Exhibit 10.14.1
FIRST AMENDMENT TO EMPLOYMENT AGREEMENT
THIS FIRST AMENDMENT TO EMPLOYMENT AGREEMENT (this "Amendment") dated this
14th day of March 2003 by and between The Kansas City Southern Railway Company,
a Missouri corporation ("Railway"), Kansas City Southern, a Delaware corporation
f/k/a Kansas City Southern Industries, Inc. ("KCSI"), and Xxxxxx X. Xxxx, an
individual ("Executive").
WHEREAS, Railway, KCSI and Executive are parties to that certain Employment
Agreement dated June 1, 2002 (the "Employment Agreement"), pursuant to which
Railway employed Executive as Senior Vice President & Chief Financial Officer;
WHEREAS, as of January 16, 2003 (the "Effective Date"), Executive assumed
the role of Executive Vice President & Chief Financial Officer for Railway (the
"Promotion"); and
WHEREAS, Railway, KCSI and Executive desire to amend the Employment
Agreement to provide for certain changes to the Employment Agreement
necessitated by the Promotion.
NOW, THEREFORE, in consideration of the mutual covenants and agreements set
forth herein, and for other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the parties hereto agree as
follows:
1. Section 1 of the Employment Agreement is hereby amended so that the first
sentence and only the first sentence of Section 1 is deleted in its entirety and
replaced with the following:
"Railway hereby continues the employment of Executive as Executive
Vice President & Chief Financial Officer, to serve at the pleasure of
the Board of Directors of Railway (the "Railway Board") and to have
such duties, powers and responsibilities as may be prescribed or
delegated from time to time by the President or other officer to whom
Executive reports, subject to the powers vested in the Railway Board
and in the stockholder of the Railway."
2. The parties hereto acknowledge and agree that this Amendment shall be
deemed to have been effective as of the Effective Date.
3. Capitalized terms used herein without definition shall have the respective
meanings attributed to such terms in the Employment Agreement.
4. The parties hereto hereby ratify, confirm and approve the Employment
Agreement, as amended by this Amendment. Should any terms of this Amendment
conflict with any terms of the Employment Agreement, the terms of this Amendment
shall control.
5. This Amendment may be executed in two or more counterparts, each of which
shall be deemed an original, but all of which together shall constitute one and
the same instrument.
Exhibit 10.14.1
IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be
executed as of the day and year first written above.
RAILWAY:
THE KANSAS CITY SOUTHERN RAILWAY COMPANY
By: /s/ Xxxxxxx X. Xxxxxxx
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Name: Xxxxxxx X. Xxxxxxx
Title: Chairman, President & CEO
KCSI:
KANSAS CITY SOUTHERN
By: /s/ Xxxxxxx X. Xxxxxxx
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Name: Xxxxxxx X. Xxxxxxx
Title: Chairman, President & CEO
EXECUTIVE:
By: /s/ Xxxxxx X. Xxxx
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Name: Xxxxxx X. Xxxx
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