CDRT Holding Corporation Letter Agreement Increasing Base Salary for Randel G. Owen
This letter agreement between CDRT Holding Corporation and Randel G. Owen confirms that, effective upon the closing of a specified merger, Mr. Owen's base salary will increase to $505,000 per year. All other terms and conditions of his existing employment agreement, as previously amended, remain unchanged. The agreement is signed by both parties and is effective as of May 25, 2011.
Exhibit 10.13
CDRT Holding Corporation
c/o Clayton, Dubilier & Rice, LLC
375 Park Avenue
18th Floor
New York, NY 10152
May 25, 2011
CONFIDENTIAL
Randel G. Owen
1103 Northwood Lane
Castle Rock, CO 80108
Dear Randy:
Effective with respect to the period beginning on the closing of the Merger (as defined in the Rollover Agreement, dated as of May 25, 2011, to which you and CDRT Holding Corporation are parties), your base salary will increase to $505,000 per year. All other terms and conditions of your employment agreement dated February 10, 2005, as amended on January 1, 2009, March 12, 2009, and May 18, 2010 will remain the same.
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| Sincerely, |
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| /s/William Sanger |
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| William A. Sanger |
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| Chief Executive Officer |
Accepted and agreed:
| /s/Randel G. Owen |
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| Randel G. Owen |
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