Amendment to Managing Directorship Agreement between EnerSys S.A. and Raymond R. Kubis (May 8, 2003)
This letter agreement amends the existing Managing Directorship Agreement between EnerSys S.A. and Raymond R. Kubis. Effective April 1, 2003, Mr. Kubis's annual fixed gross compensation is increased to €297,600, paid in twelve monthly installments. All other terms of the original agreement remain unchanged.
Exhibit 10.23
 | [HAWKER LOGO] | |
| S.A. EnerSys N.V. Houtweg 26, 1140 Bruxelles-Brussel | ||
| Tel: +32 (0)2 215 18 18 | - Fax: +32 (0)2 215 49 30 | |
| Postbus 37029 | - Bovendijk 132 | |
| NL-3005 LA Rotterdam | - NL-3045 PC Rotterdam | |
| Tel: +31 (0)10 285 5600 | - Fax: +31(10) 418 54 68 | |
| www.enersysinc.com | ||
May 8, 2003
Raymond R. Kubis
2135 Lincoln Lake
Coal City IL 60416
Dear Ray:
With reference to the Managing Directorship Agreement dated January 8, 2002 (the "Directorship Agreement") between you and EnerSys S.A. (formerly known as Hawker Belgium S.A., and referred to herein as the "Company"), pursuant to which you are currently serving as Managing Director of the Company, we confirm that effective as of April 1, 2003 your annual fixed gross emolument provided for in Subsection 2.1 of the Directorship Agreement has been increased to €297,600 (payable in twelve monthly installments of €24,800 each). Subsection 2.1 of the Directorship Agreement is hereby amended to reflect such increase.
Except as expressly set forth herein, the Directorship Agreement shall remain in full force and effect.
| EnerSys S.A. | ||||
By: | /s/ Nadine deSmit Nadine deSmit Managing Director | |||
By: | /s/ Raymond R. Kubis Raymond R. Kubis | |||
