EXHIBIT 10.20
AMENDMENT TO SERVICE AGREEMENT
THIS AMENDMENT TO SERVICE AGREEMENT (the "Amendment"), made as of this 4th
day of November, 2003, by and between Cronos Containers Limited, a United
Kingdom corporation (the "Employer"), and Xxxx X. Xxxxx (the "Employee"),
W I T N E S S E T H:
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WHEREAS, Employer and Employee entered into a Service Agreement, dated as of
February 29, 2000, as amended on December 17, 2001 and November 5, 2002
(hereinafter, the "Service Agreement"); and
WHEREAS, pursuant to clauses 2.1 and 2.2 of the Service Agreement, Employer
agreed to employ Employee, and Employee agreed to serve in the employ of the
Employer, on an exclusive and full-time basis, as the Vice President -
Operations of Employer, through November 30, 2004, subject to earlier
termination pursuant to the provisions of the Service Agreement; and
WHEREAS, Employer and Employee desire to extend the term of the Service
Agreement;
NOW, THEREFORE, in consideration of the mutual covenants herein contained and
other good and valuable consideration, the parties hereto agree as follows:
3. Extension of Term of Service Agreement. Employer agrees to employ the
Employee, and the Employee agrees to serve in the employ of the Employer, on an
exclusive and full-time basis, in the position identified for Employee in the
Service Agreement, subject to the supervision and direction of that person or
persons set forth in the Service Agreement, through November 30, 2005, unless
such period is sooner terminated by either party giving the other not less than
three (3) months written notice and pursuant to the provisions of clauses 13.1
or 13.3 of the Service Agreement.
4. Continuance in Force of Service Agreement. Other than as specifically
amended hereby, the terms and provisions of the Service Agreement shall remain
in full force and effect.
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EXHIBIT 10.20
IN WITNESS WHEREOF, the Employer and the Employee have signed this Amendment,
effective as of the date and year first above written.
"EMPLOYER"
CRONOS CONTAINERS LIMITED
By /S/ XXXXX X XXXXXXX
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Its Director
"EMPLOYEE"
/s/ XXXX X XXXXX
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Xxxx X. Xxxxx
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