Amendment to Employment Agreement between Casella Waste Systems, Inc. and Edwin D. Johnson (February 2013)
Casella Waste Systems, Inc. and Edwin D. Johnson have agreed to update Johnson's Employment Agreement to reflect his promotion from Senior Vice President and Chief Financial Officer to President and Chief Operating Officer. The amendment changes the definition of "Good Reason" in the agreement to align with his new title and responsibilities. Johnson's compensation and equity benefits were also adjusted as part of the promotion. This letter serves as formal confirmation of these changes, which Johnson has acknowledged and accepted.
Exhibit 10.26
February 12, 2013
Edwin D. Johnson
President and COO
Casella Waste Systems, Inc.
25 Greens Hill Lane
Rutland, VT. 05701
Dear Ed:
On December 3, 2012, your title and responsibilities within Casella Waste Systems, Inc. (Casella) were changed from Senior Vice President and Chief Financial Officer to President and Chief Operating Officer.
As a result of your promotion, certain adjustments to your compensation were made, and equity participation benefits were modified, all consistent with, and as contemplated by, your Employment Agreement with Casella as dated July 6, 2010, as amended on December 29, 2010, (EA). Additionally, pursuant to Section 4.4.1(c) of the EA, entitled Good Reason, the definition of those events which may constitute Good Reason is, the assignment to Employee of any duties inconsistent with his status as Senior Vice President and Chief Financial Officer, at a publicly traded company, . Please consider this correspondence as formal confirmation that the foregoing language in Section 4.4.1(c), should now read, the assignment to Employee of any duties inconsistent with his status as President and Chief Operating Officer at a publicly traded company, .
Please let me know if you have any questions. If not, please sign the acknowledgement below, and return a signed copy to my attention.
Sincerely, CASELLA WASTE SYSTEMS, INC. |
/s/ David L. Schmitt |
David L. Schmitt |
Senior Vice President and General Counsel |
ACKNOWLEDGED AND AGREED TO: |
/s/ Edwin D. Johnson |
By: Edwin D. Johnson |
Title: President and COO |
Date: | February 14, 2013 |
cc: | John W. Casella |
Gerry Gormley |