Amendment No. 2 to Employment Agreement between Chart Industries, Inc. and Michael F. Biehl
Chart Industries, Inc. and Michael F. Biehl have agreed to amend their existing employment agreement, effective January 1, 2012. The amendment increases Mr. Biehl's base salary to $365,000 and changes the target bonus from 100% to 90% of his base salary. All other terms of the original agreement remain unchanged.
Exhibit 10.2
CHART INDUSTRIES, INC.
AMENDMENT NO. 2
TO
EMPLOYMENT AGREEMENT
This Amendment No. 2 (the Amendment) to the Employment Agreement, dated February 26, 2008 and subsequently amended effective January 1, 2009 (the Agreement), by and between Chart Industries, Inc. (the Company) and Michael F. Biehl (Executive), is effective January 1, 2012.
WITNESSETH:
WHEREAS, the Company and the Executive desire to amend the Agreement; and
WHEREAS, the parties reserved the right to amend the Agreement pursuant to Section 13.c thereof.
NOW, THEREFORE, pursuant to Section 13.c of the Agreement, and effective as of January 1, 2012, the parties hereby amend the Agreement as follows:
1. In Section 3 of the Agreement, delete the dollar amount $262,150 and replace with $365,000.
2. In Section 4 of the Agreement delete the phrase of one hundred percent (100%) of the Executives Base Salary (with it being understood that one hundred percent (100%) of the Executives Base Salary is the Target) in its entirety and replace it with of ninety percent (90%) of the Executives Base Salary (with it being understood that ninety percent (90%) of the Executives Base Salary is the Target).
3. Except as set forth herein, the Agreement is not modified or amended.
IN WITNESS WHEREOF, the parties hereto have duly executed this Amendment.
CHART INDUSTRIES, INC. | MICHAEL F. BIEHL | |||||
(Company) | (Executive) | |||||
By: | /s/ Mark H. Ludwig | /s/ Michael F. Biehl | ||||
Name: | Mark H. Ludwig | |||||
Title: | Vice President Human Resources |