Exhibit 10.5
AMENDMENT NUMBER ONE
This AMENDMENT NUMBER ONE (hereinafter the "Amendment") is made and
entered into as of this 28th day of February 2003, by and between REPUBLIC
SERVICES, INC., a Delaware corporation, (hereinafter the "Company") and XXXXXXX
XXXXXXXXX, a Florida Resident (hereinafter the "Employee"):
RECITALS
WHEREAS, the Company and the Employee have heretofore entered into a
certain Employment Agreement dated as of January 31, 2003 ("Employment
Agreement"; terms defined therein being used herein as therein defined); and
WHEREAS, the Company and the Employee wish to make amendments to the
Employment Agreement as set forth below;
A. For all purposes therein, Section 2, clause (a) of the
Employment Agreement is hereby deleted, in its entirety, and replaced with the
following:
2. Compensation.
(a) BASE SALARY. In consideration for the Employee's
services hereunder and the restrictive covenants contained herein, the Employee
shall be paid (i) an annual base salary of $360,000 commencing on February 28,
2003 and continuing until July 31, 2003, and (ii) an annual base salary of
$425,000 commencing on August 1, 2003 and continuing until February 29, 2004.
Notwithstanding the foregoing, Employee's Base Salary may be increased at
anytime and from time to time to levels greater than the level set forth in the
preceding sentence at the discretion of the Board of Directors of the Company
to reflect merit or other increases. The Employee's Base Salary for any period
following February 29, 2004 shall remain at $425,000 unless the Board of
Directors expressly provides otherwise.
B. All other provisions or terms of the Employment Agreement are
hereby ratified and confirmed.
IN WITNESS WHEREOF, the Company and the Employee have executed this
Amendment effective as of the date first written above.
REPUBLIC SERVICES, INC., a Delaware
corporation
By: /s/ Xxxxx X. X'Xxxxxx
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Its: Chairman and Chief Executive Officer
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EMPLOYEE:
/s/ Xxxxxxx Xxxxxxxxx
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XXXXXXX XXXXXXXXX
