First Amendment to Employment Agreement between Smurfit-Stone Container Corporation and Steven J. Klinger
This amendment updates the employment agreement between Smurfit-Stone Container Corporation and Steven J. Klinger, effective April 23, 2008. The main change clarifies that the company cannot require Mr. Klinger to relocate his primary residence unless both parties mutually agree on the timing and location. All other terms of the original agreement remain unchanged.
Exhibit 10.1
FIRST AMENDMENT
OF
EMPLOYMENT AGREEMENT OF STEVEN J. KLINGER
The Amendment (the Amendment) is effective as of April 23, 2008 (the Amendment Date), as to the Employment Agreement by and between Smurfit-Stone Container Corporation (the Company) and Steven J. Klinger (the Executive).
WHEREAS, the Company and the Executive entered into an Employment Agreement effective as of May 11, 2006 (the Agreement); and
WHEREAS, the Company and the Executive now desire to amend the Agreement to reflect their further understanding;
NOW, THEREFORE, in consideration of the mutual covenants set forth in this Amendment, the Company and the Executive hereby agree to amend the Agreement, as of the Amendment Date, as follows:
1. By substituting the following language for Section 5(e) (iv) of the Agreement:
(iv) the Company requires the Executive to relocate his primary residence in the absence of mutual agreement between the Executive and the Company as to the timing and location;
2. All other terms of the Agreement shall remain in full force and effect.
IN WITNESS WHEREOF, the parties have executed this Amendment effective as of the date first above written.
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| Smurfit-Stone Container Corporation | |
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/s/ Steven J. Klinger |
| By: | /s/ Patrick J. Moore |
Steven J. Klinger |
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| Patrick J. Moore |
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| Chairman and Chief Executive Officer |