EXHIBIT 10.10
FORM OF
AMENDMENT NO. 1
TO
EMPLOYMENT AGREEMENT AND RESTRICTED STOCK GRANT
THIS AMENDMENT NO. 1 TO THE EMPLOYMENT AGREEMENT AND
RESTRICTED STOCK GRANT ("Employment Agreement") by and among [Neenah Foundry
Company] [or subsidiary of Neenah Foundry Company], ACP Holding Company ("ACP")
and ______ (this "Amendment") is effective as of _____, 2004.
Capitalized terms not otherwise defined herein shall have the
meanings assigned to such capitalized terms in the Employment Agreement.
1. Amendment of the Employment Agreement. The Employment Agreement is
hereby amended as follows:
(a) Section 2.02 (b) is deleted and replaced in full with the
following text:
"All Unvested Shares will automatically become vested immediately prior
to a Significant Transaction."
(b) The definition of "Stockholders Agreement" is amended by
adding the following text to the end thereof:
", as amended from time to time."
(c) The definition of "Tag-Along Transaction" is deleted and
replaced in full with the following text:
"Tag-Along Transaction" means any transaction involving a sale by one
or more parties of 50% or more of the Shares (as defined in the Stockholders
Agreement).
2. Miscellaneous.
(a) Governing Law. This Amendment shall be governed by the
corporate laws of the State of Wisconsin without giving effect
to any choice of law provisions that might otherwise refer
construction or interpretation of the Plan to the substantive
law of another jurisdiction.
(b) Severability. Whenever possible, each provision of this
Amendment shall be interpreted in such manner as to be
effective and valid under applicable law, but if any provision
of this Amendment is held to be prohibited by or invalid under
applicable law, such provision shall be ineffective only to
the extent of such prohibition or invalidity, without
invalidating the remainder of this Amendment.
(c) Effect on the Employment Agreement. Except as it is expressly
modified by this Amendment, the Employment Agreement remains
in full force and effect.
******
IN WITNESS WHEREOF, the parties hereto have executed this
Amendment or caused this Agreement to be executed this _____________ day of
____________, 2004.
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[Employee]
[NEENAH FOUNDRY COMPANY]
[OR SUBSIDIARY OF NEENAH FOUNDRY COMPANY]
By:
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Name:
Title:
ACP HOLDING COMPANY
By:
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Name:
Title:
