Amendment to Employment Terms between Catalina Marketing Corporation and L. Dick Buell
This amendment updates the employment agreement between Catalina Marketing Corporation and L. Dick Buell, CEO, originally dated March 3, 2004. It revises the terms for reimbursement of relocation expenses, specifying eligibility periods for different types of expenses and requiring repayment if Mr. Buell leaves the company within eighteen months. All other terms of the original agreement remain unchanged.
Exhibit 10.3
October 26, 2004
L. Dick Buell
Dear Dick:
I reference the letter (the Original Letter) written by me, as Chairman of the Board of Directors of Catalina Marketing Corporation (Catalina), to you, dated March 3, 2004. The Original Letter spelled out the terms and conditions of your employment arrangement with Catalina as Chief Executive Officer, which commenced March 17, 2004. The purpose of this letter is to amend the Original Letter as set forth below. When accepted by you in the manner stated below, this letter shall constitute an amendment to the Original Letter, and will be binding on you and Catalina, as follows:
The fifth full paragraph of the Original Letter is hereby amended to read in its entirety as follows:
You will be eligible for reimbursement of relocation expenses incurred in accordance with our Relocation Assistance Guidelines (the Guidelines) as modified by the balance of this paragraph. You will be eligible for reimbursement of Transition expenses described in the Guidelines incurred during the first seven months of your employment and for Personal Property and Housing expenses described in the Guidelines for the period commencing the first day of your employment through October 31, 2005. Taxable reimbursements under this paragraph will be grossed up. All relocation costs described or referenced in this paragraph are reimbursable to Catalina by you should you voluntarily leave employment with Catalina within eighteen months after the initial date of your employment.
Except as set forth in this letter, the Original Letter shall remain in full force and effect without change.
Sincerely,
/s/ Frederick W. Beinecke |
Frederick W. Beinecke |
Chairman of the Board |
Catalina Marketing Corporation |
ACCEPTED: |
/s/ L. Dick Buell |
L. Dick Buell |
Date: 10.29.04 |