Amendment to Employment Agreement Regarding LTI Awards between Tower Automotive Operations USA I, LLC and Jeffrey Kersten
This letter amends the employment agreement between Tower Automotive Operations USA I, LLC and Jeffrey Kersten. Effective for fiscal years starting on or after March 6, 2018, the percentage referenced in Section 4.3 of the agreement is increased from 100% to 150% for long-term incentive (LTI) awards. All other terms of the original employment agreement remain unchanged. The amendment is confirmed by both parties' signatures.
Exhibit 10.2
 | 17672 Laurel Park Drive N, Suite 400E Livonia, Michigan 48152-3984 |
January 30, 2018
Jeffrey Kersten
17672 N. Laurel Park Drive, Ste. 400E
Livonia, MI 48152
Re: Amendment to Employment Agreement With Respect to LTI Awards
Dear Jeff,
Reference is made to the Second Amended and Restated Employment Agreement, dated as of August 31, 2016, between you and Tower Automotive Operations USA I, LLC (the “Employment Agreement”).
This is to confirm that, effective for fiscal years during the “Term” (as defined in the Employment Agreement) beginning on and after March 6, 2018, “one hundred fifty percent (150%)” shall be substituted for “one hundred percent (100%)” where the latter appears in Section 4.3 of the Employment Agreement.
Except as provided by this letter, the provisions of the Employment Agreement shall remain in full force and effect.
Please acknowledge your agreement with the foregoing by countersigning this letter below and returning it to me.
Regards,
/s/ Mark Flynn
Mark Flynn
Sr. Vice President Global Human Resources
Acknowledged and agreed:
/s/ Jeffrey L. Kersten
Jeffrey L. Kersten
