CDI CORP. Amendment To Employment Agreement
Exhibit 10.2
CDI CORP.
Amendment To Employment Agreement
This is an amendment (Amendment) to the employment agreement (Agreement) entered into as of the 1st day of January, 2008 between CDI Corp., a Pennsylvania corporation (the Company), and Roger H. Ballou (Executive).
Background
The Agreement provides, among other things, that Executive will be granted shares of Deferred Stock in each of 2009, 2010 and 2011 within ten days following the Companys receipt of the signed report and opinion of the Companys outside auditors regarding the Companys financial statements of the prior year. This timing is different from that used in granting equity awards to other members of the Companys executive team. The Company and Ballou wish to coordinate this timing.
Amendment
Accordingly, for good and valuable consideration, the receipt and sufficiency of which is acknowledged by both parties, and intending to be legally bound, the parties agree as follows:
Section 5(b)(ii)(A) of the Agreement is amended by deleting the sentence which reads as follows:
The Time-Vested Deferred Stock shall be granted
within ten days following the Companys receipt of
the signed report and opinion of the Companys
outside auditors regarding the Companys financial
statements of the prior year.
and inserting in its place the following sentence:
The Time-Vested Deferred Stock shall be granted
on the third business day following the issuance of
the Companys earnings release for the prior year.
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All other provisions of the Agreement remain unchanged.
IN WITNESS WHEREOF, the undersigned have executed this Amendment effective as of April 1, 2008.
Company: | ||
CDI CORP. | ||
/s/ Walter R. Garrison | ||
By: | Walter R. Garrison | |
Chairman of the Board | ||
EXECUTIVE: | ||
/s/ Roger H. Ballou | ||
Roger H. Ballou |
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