Amendment to Employment Agreement between The Greenbrier Companies, Inc. and James T. Sharp (June 26, 2008)
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Summary
This amendment updates the employment agreement between The Greenbrier Companies, Inc. and James T. Sharp, originally dated April 7, 2008. The main change aligns the agreement's Change of Control provisions with those generally offered by the company. Specifically, it clarifies that if Mr. Sharp's employment is terminated by the company (other than for cause) or if he resigns for good reason or during a specified window, within 24 months after a change of control, he will receive certain benefits. All other terms of the original agreement remain unchanged.
EX-10.23 9 v50395exv10w23.htm EX-10.23 EX-10.23
Exhibit 10.23
AMENDMENT TO EMPLOYMENT AGREEMENT
This Amendment to Employment Agreement dated as of June 26, 2008 (this Amendment) is entered into by and between The Greenbrier Companies, Inc. (Company) and James T. Sharp (Employee) and amends that certain Employment Agreement between such parties dated as of April 7, 2008 (the Employment Agreement). The purpose of this Amendment is to conform the Change of Control provisions to those offered in the Companys plans and agreements generally. To accomplish these purposes, and for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties agree as follows:
1. Change of Control Period. Section 8.1 of the Agreement is amended by modifying the first sentence of that paragraph to read as follows:
If, during the twenty-four month period following a Change of Control, the Company terminates Employees employment other than for Cause, or Employee terminates his employment either without any reason during the Window Period or for Good Reason, then the Company shall pay or provide the benefits set forth in subsections (a) (c) below.
2. Except as hereby amended, the Employment Agreement shall remain in full force and effect.
THE GREENBRIER COMPANIES, INC. | |||||
By: | /s/ Mark J. Rittenbaum | ||||
Title: Executive VP and CFO | |||||
/s/ James T. Sharp | |||||
James T. Sharp | |||||