AMENDMENT TO EMPLOYMENT AGREEMENT
Exhibit 10.1
AMENDMENT TO EMPLOYMENT AGREEMENT
This Amendment to the Amended and Restated Employment Agreement dated as of November 13, 2008 (the Agreement) by and between Rockwood Holdings, Inc., a Delaware Corporation (the Company) and Seifi Ghasemi (the Executive ) is hereby executed as of October 28, 2010.
1. Section 3 of the Agreement is amended, effective April 1, 2010, by substituting $1,100,000 for $1,300,000 in the first sentence thereof; and by deleting the last sentence and substituting it with the following: Executives Base Salary shall not be decreased unless agreed to in writing by both parties.
2. Section 4 of the Agreement is amended, effective as of calendar year 2010, by substituting 200% for 150% in the first sentence thereof.
3. Section 6(b) of the Agreement is amended, effective April 1, 2010, by substituting $53,000 for $50,000.
4. Section 7(b) of the Agreement is amended, effective January 1, 2010, to read as follows:
b. Company Car. During the Employment Term, the Executive will be provided with use of a Company automobile or an automobile allowance equivalent to the lease payment of an automobile commensurate with the Executives position, including reimbursement on a monthly basis for expenses associated with operating the automobile including gas, insurance and maintenance. The reimbursements called for by this Section 7(b) shall be paid in accordance with the Companys reimbursement policy for senior executives (but in no event later than the last day of the calendar year next following the calendar year in which the Executive pays the respective expenses).
5. Clause (D) of Section 8(c)(iii) of the Agreement is amended by substituting $53,000 for $50,000.
6. Except as set forth above, the Agreement remains in full force and effect.
IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed and delivered as of the day and year first above set forth.
| ROCKWOOD HOLDINGS, INC. | |
|
|
|
| By: | /s/ Sheldon R. Erikson |
|
| Name: Sheldon R. Erikson |
|
| Title: Chairman, Compensation Committee |
|
| |
| /s/ Seifi Ghasemi | |
| Seifi Ghasemi |