Amendment No. 2 to Employment and Compensation Agreement between ChoicePoint Inc. and Derek V. Smith

Contract Categories: Human Resources › Employment Agreements
Summary

This amendment updates the employment and compensation agreement between ChoicePoint Inc. and Derek V. Smith. It increases the percentage of compensation for the executive's SERP contribution to 40% for 2003 and 45% for subsequent years. It also grants the executive access to a corporate aircraft for ten years after the agreement's maturity, including its extension, at a specified usage rate. The amendment is effective as of July 29, 2003, and is signed by both parties.

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EX-10.1 3 g85855exv10w1.htm EX-10.1 AMENDMENT 2 TO EMPLOYMENT AGREEMENT exv10w1  

Exhibit 10.1

AMENDMENT NO. 2
TO THE EMPLOYMENT AND COMPENSATION AGREEMENT
BETWEEN CHOICEPOINT INC. AND DEREK V. SMITH
DATED APRIL 25, 2002

Pursuant to the action of the Management Compensation and Benefits Committee taken on July 29, 2003, the Employment and Compensation Agreement between ChoicePoint Inc. and Derek V. Smith dated April 25, 2002, is hereby amended as of July 29, 2003.

  (i)   Exhibit B is amended by changing the last sentence of Section 3(e) “Non-Qualified Plan” to read

  “Executive shall be entitled to a SERP contribution in the following percentages of ‘Compensation’, as that term is defined in such plan, for the periods indicated:

  40% from January 1, 2003 through December 31, 2003;
45% for years commencing on or after January 1, 2004;” and

  (ii)   add on said Exhibit B next to the “Benefit – Corporate Aircraft,” the phrase “and access provided for ten years following the maturity of this Employment Agreement, including its three-year extension, to an aircraft comparable to that provided to Executive at the maturity date (including its three-year extension) of this Employment Agreement, at a rate of 75 hours per year on the same basis as personal usage during the term of this Employment Agreement” in the column “Amount”.
     
  Employer
CHOICEPOINT INC.
     
  By:/s/    Kenneth G. Langone
   
  Name: Kenneth G. Langone
  Title: Chairman, Management
Compensation & Benefits Committee
     
  EXECUTIVE:
     
  /s/ Derek V. Smith