MRC Transmark Limited Heaton House Riverside Drive Cleckheaton West Yorkshire BD19 4DH
Exhibit 10.10.2
MRC Transmark Limited
Xxxxxx Xxxxx
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Xxxxxx Xxxxx
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February 23, 2011
Xxxx Xxxxxx Xxxxxxxx
Xxxxxx Xxxxx
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Xxxxxx Xxxxx
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Dear Xxxx:
This letter agreement memorializes our mutual understanding that the employment agreement
entered into between you and MRC Transmark Limited (formerly known as Transmark Fcx Limited) on
September 10, 2009 (the “Employment Agreement”) shall be amended as follows. Terms used in
this letter agreement that are not defined herein shall have the meanings given to such terms in
the Employment Agreement.
| 1. | Annual Bonus. For the fiscal year commencing on January 1, 2011, your target annual bonus shall be sixty-seven percent (67%) of your base salary as in effect at the beginning of such fiscal year with the actual annual bonus to be based upon such individual and/or Employer and/or Group performance criteria established for each such fiscal year by the Board. |
| 2. | Good Reason Consent. You hereby agree that notwithstanding the terms of the Employment Agreement the decrease in your target annual bonus for 2011 as set forth in this letter agreement does not constitute “Good Reason” pursuant to the Employment Agreement. |
| 3. | Governing Law. This letter agreement shall be construed and enforced in accordance with, and the rights and obligations of the parties hereto shall be governed by, the laws of England. |
| 4. | Confirmation of Employment Agreement. In all other respects the Employment Agreement shall remain in effect and is hereby confirmed by the parties. |
If the foregoing terms and conditions accurately reflect your understanding, please sign this
letter agreement below and return a copy to me.
[signature page follows]
| Very truly yours, | ||
| MRC TRANSMARK LIMITED | ||
| /s/ Xxxxxx X. Xxxx | ||
| By: Xxxxxx X. Xxxx | ||
| Title: | ||
ACCEPTED AND AGREED: |
||
/s/ Xxxx Xxxxxx Xxxxxxxx |
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Xxxx Xxxxxx Xxxxxxxx |
[Signature Page to Xxxx Xxxxxx Xxxxxxxx Agreement]
