Amendment to Special Retirement Plan of American Commercial Lines LLC

Summary

American Commercial Lines LLC has amended its Special Retirement Plan, effective May 22, 2002. This amendment specifies that Article 10 of the Plan, which addresses 'Change of Control,' will not apply to the transactions outlined in the Recapitalization Agreement dated March 15, 2002, involving Danielson Holding Corporation, American Commercial Lines Holdings LLC, American Commercial Lines LLC, and certain unitholders. The amendment was executed by the company's Senior Vice President.

EX-10.7 12 y63024exv10w7.txt AMENDMENT TO SPECIAL RETIREMENT PLAN EXHIBIT 10.7 AMENDMENT OF THE SPECIAL RETIREMENT PLAN OF AMERICAN COMMERCIAL LINES LLC WHEREAS, American Commercial Lines LLC (the "Sponsor") maintains the Special Retirement Plan of American Commercial Lines LLC (as amended, the "Plan"); and WHEREAS, pursuant to Article 7 of the Plan, the Sponsor has the right to amend the Plan; and WHEREAS, the Sponsor deems it advisable to amend the Plan; NOW, THEREFORE, the Plan is hereby amended, effective May 22, 2002, as follows: 1. Article 10 of the Plan, entitled "Change of Control," shall not be effective with respect to the transactions contemplated by that certain Recapitalization Agreement, dated as of March 15, 2002, by and among Danielson Holding Corporation, American Commercial Lines Holdings LLC, American Commercial Lines LLC) and the Preferred Unitholders and Management Unitholders (as defined therein). IN WITNESS WHEREOF, the Sponsor has caused this amendment to be executed on its behalf as of this 22nd day of May, 2002. AMERICAN COMMERCIAL LINES LLC By: /s/ Paul S. Besson __________________________ Name: Paul S. Besson Title: SR. Vice President