April 11, 2003 Mr. Bruce E. Grout c/o Airborne Express, Inc. Post Office Box 662 Seattle, WA 98111 Dear Mr. Grout:Airborne Inc /De/ • August 8th, 2003 • Air courier services
The purpose of this letter is to amend the letter agreement by and among you, Airborne, Inc. and Airborne Express, Inc. dated August 7, 2001 (the “Agreement”) to establish your current base pay and bonus payable for 2002 as the floor for calculating the multiple of base pay and bonus portions of the benefits payable under the Agreement. Accordingly, your Agreement is hereby amended as follows:
April 11, 2003 Mr. Robert T. Christensen c/o Airborne Express, Inc. Post Office Box 662 Seattle, WA 98111 Dear Mr. Christensen:Airborne Inc /De/ • August 8th, 2003 • Air courier services
The purpose of this letter is to amend the letter agreement by and among you, Airborne, Inc. and Airborne Express, Inc. dated August 7, 2001 (the “Agreement”) to establish your current base pay and bonus payable for 2002 as the floor for calculating the multiple of base pay and bonus portions of the benefits payable under the Agreement. Accordingly, your Agreement is hereby amended as follows:
April 11, 2003 Mr. Lanny H. Michael c/o Airborne Express, Inc. Post Office Box 662 Seattle, WA 98111 Dear Mr. Michael:Airborne Inc /De/ • August 8th, 2003 • Air courier services
The purpose of this letter is to amend the letter agreement by and among you, Airborne, Inc. and Airborne Express, Inc. dated August 7, 2001 (the “Agreement”) to provide a window period following a “change in control” (as defined in the Agreement) during which you may terminate your employment with the Company (as defined in the Agreement) without any reason and still be entitled to the benefits set forth in Section 7 of the Agreement and to establish your current base pay and bonus payable for 2002 as the floor for calculating the multiple of base pay and bonus portions of the benefits payable under the Agreement. Accordingly, your Agreement is hereby amended as follows:
