First Amendment to Employment Agreement between ICO, Inc. and Charlotte J. Fischer

Summary

This amendment updates the employment agreement between ICO, Inc. and Charlotte J. Fischer. Effective November 1, 2002, instead of providing a company vehicle, the company will pay Ms. Fischer a monthly vehicle allowance of $1,130, which will be adjusted for inflation. She will also be reimbursed for business mileage at the IRS rate. All other terms of the original employment agreement remain unchanged.

EX-10.17 8 h02127exv10w17.txt 1ST AMEND.TO EMPLOYMENT AGMT - CHARLOTTE FISCHER EXHIBIT 10.17 FIRST AMENDMENT TO EMPLOYMENT AGREEMENT This First Amendment to Employment Agreement ("Agreement"), made on October 24, 2002, is entered into by and between ICO, Inc., a Texas corporation, and its subsidiaries and affiliates (the "Company"), and Charlotte J. Fischer, a Texas resident ("Employee"). 1. Paragraph 2.7 of the Employment Agreement is hereby amended, effective as of November 1, 2002, to read as follows: "During the Employment Period, in lieu of use of a Company vehicle, and maintenance, repair, insurance, and fuel charges associated therewith, the Employee shall receive a monthly vehicle allowance in the sum of $1,130.00 ("Vehicle Allowance"), paid in advance on the first payday of each month. The Vehicle Allowance shall be periodically adjusted to reflect inflation. As reimbursement for fuel and vehicle-related charges incurred by Employee when using Employee's personal vehicle on Company business, Employee shall be reimbursed at the IRS reimbursement rate of $0.365 per mile (or the prevailing rate)." 2. All terms and conditions in the Employment Agreement that are not amended or supplemented pursuant to paragraph 1 above continue to be in full force and effect between Employee and ICO, Inc. AGREED AND ACCEPTED: ICO, INC. By: /s/ Jon C. Biro /s/ Charlotte J. Fischer - ---------------------------- ------------------------- Charlotte J. Fischer Printed Name: Jon C. Biro Title: CFO and Treasurer S-6