EXHIBIT 10(Z)
Amendment No. 1 dated as of November 14, 2000, to Agreement (the "Agreement")
dated November 14, 1997 between UNITED RENTALS, INC., a Delaware corporation
("UR"), and XXXXXXX X. XXXXX ("Employee").
For good and valuable consideration, the parties agree as follows:
1. Section 2(a) of the Agreement is amended in its entirety to read as follows:
"Base Salary and Bonus. The base salary payable to Employee shall be $450,000
per year, payable in monthy installments. (References to "Shares" in this
Agreement are to shares of common stock issued to Employee under this Agreement
as in effect prior to November 17, 2000). The Board of Directors may from time
to time award bonuses to Employee based on such criteria as the Board shall
establish in its discretion. The payment of base salary and bonuses shall be
subject to all applicable federal, state and local withholding taxes, social
security deductions and other general obligations. Employee shall also be
entitled to an automobile allowance of not less than $700 per month."
2. The first sentence of Section 3(a) of the Agreement is hereby amended to
read: "The term of this Agreement shall begin on the date hereof, and shall
continue until November 17, 2003.
3. Except as amended hereby, the Agreement is in all respects ratified and
confirmed.
UNITED RENTALS, INC.
BY: /s/ Xxxxxxx Xxxxxx
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Xxxxxxx Xxxxxx, its Chief Executive Officer
EMPLOYEE:
/s/ Xxxxxxx Xxxxx
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Xxxxxxx X. Xxxxx
