Amendment to Employment Agreement Between EnerSys (formerly Yuasa, Inc.) and Michael T. Philion
This letter, dated April 1, 2007, amends the employment agreement between EnerSys (formerly Yuasa, Inc.) and Michael T. Philion, who serves as Executive Vice President Finance and Chief Financial Officer. The amendment increases Mr. Philion's salary to $377,000 per year, effective April 1, 2007. All other terms of the original employment agreement remain unchanged and in effect.
Exhibit 10.14
Letter, dated April 1, 2007, amending the Employment Agreement between Yuasa, Inc. and Michael T. Philion
EnerSys
JOHN D. CRAIG
Chairman, President & CEO
April 1, 2007
Mr. Michael T. Philion
| c/o | EnerSys |
| 2366 Bernville Road |
| Reading, PA 19605 |
Dear Mike:
With reference to your employment agreement (the “Employment Agreement”) with EnerSys Delaware Inc., f/k/a Yuasa, Inc., (the “Company”), dated November 9, 2000, pursuant to which you are currently employed as Executive Vice President Finance and Chief Financial Officer of the Company, the Compensation Committee of the Board of Directors of the Company has approved your salary as set forth in Section 3 of the Employment Agreement is increased to $377,000.00, effective as of April 1, 2007.
Except as expressly set forth in the letter, the Employment Agreement shall remain in full force and effect.
| By: | ||
| John D. Craig | ||
| Chairman, President & Chief Executive Officer | ||
JDC:jls
