CHART INDUSTRIES, INC. AMENDMENT NO. 2 TO EMPLOYMENT AGREEMENT
Exhibit 10.4
CHART INDUSTRIES, INC.
AMENDMENT NO. 2 TO
EMPLOYMENT AGREEMENT
This Amendment No. 2 (the Amendment) to the Employment Agreement dated February 26, 2008 (the Agreement), by and between Chart Industries, Inc. (the Company) and Kenneth J. Webster (Executive), is effective June 1, 2010.
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 June 1, 2010, the parties hereby amend the Agreement as follows:
1. Section 2.a of the Agreement shall be deleted in its entirety and replaced with the following:
2.a. Title. During the Employment Term, Executive shall serve as Vice President, Chief Accounting Officer and Controller of the Company. In such position, Executive shall have such duties, authority and responsibility as shall be determined from time to time by the Board of Directors of the Company (the Board), the Chief Executive Officer or the Chief Financial Officer of the Company, which duties, authority and responsibility are consistent with the position of Vice President, Chief Accounting Officer and Controller of the Company.
2. In Section 3 of the Agreement, delete the dollar amount $156,000 and replace with $180,000.
3. In Section 4 of the Agreement delete the phrase of forty-five percent (45%) of the Executives Base Salary (with it being understood that forty-five percent (45%) of the Executives Base Salary is the Target) in its entirety and replace it with of sixty-five percent (65%) of the Executives Base Salary (with it being understood that sixty-five percent (65%) of the Executives Base Salary is the Target).
3. Except as set forth herein, this Agreement is not modified or amended.
IN WITNESS WHEREOF, the parties hereto have duly executed this Amendment.
CHART INDUSTRIES, INC. | KENNETH J. WEBSTER | |||||
(Company) | (Executive) | |||||
By: | /s/ Mark H. Ludwig | /s/ Kenneth J. Webster | ||||
Name: | Mark H. Ludwig | |||||
Title: | Vice PresidentHuman Resources |