Amendment to Change of Control Compensation Arrangement between Albemarle Corporation and Mark C. Rohr
This amendment updates the terms of Mark C. Rohr's employment agreement with Albemarle Corporation regarding compensation in the event of a change of control. Specifically, it revises the conditions under which Mr. Rohr may resign and receive a lump sum payment and other benefits if certain events occur within 24 months after a change of control. The amendment is effective as of March 4, 2005, and is accepted by both parties through their signatures.
Exhibit 10.2
March 4, 2005
Mark C. Rohr
2216 Monument Avenue
Richmond, Virginia 23220
Dear Mark:
On February 26, 1999, Albemarle Corporation provided you a letter agreement outlining the terms of your employment with the Company. Item 12 of that letter outlines the agreement regarding a Change of Control. Upon further review and discussion with the Executive Compensation Committee, the Company would like to amend and replace the first sentence of Item 12 as follows:
“In the event a Change of Control were to occur and one or more of the following events happen with respect to your employment within a period of 24 months thereafter, you may resign and receive a lump sum payment and other benefits as described below.”
This amendment is effective as of March 4, 2005. By signing below, you acknowledge your acceptance of this amendment.
Sincerely,
| /s/ Jack P. Harsh |
| Jack P. Harsh |
| Vice President, Human Resources |
| /s/ Mark C. Rohr |
| Mark C. Rohr |
