Amendment to Employment Letter Between VWR International, Inc. and John M. Ballbach (Relocation and Bonus Terms)
This letter amends John M. Ballbach's employment agreement with VWR International, Inc. to address his relocation. VWR will arrange for SIRVA Relocation LLC to purchase Ballbach's former home at its fair market value of $970,000, and VWR will be responsible for any difference in the resale price. Additionally, Ballbach will receive a one-time bonus of $92,500 due to the decrease in his home's value. All other terms of his original employment agreement remain unchanged.
Exhibit 10.1
[VWR Letterhead]
December 20, 2006
Mr. John Ballbach
VWR International, Inc.
1310 Goshen Parkway
West Chester, PA 19380
Dear John:
I am writing to confirm the amendment to your existing employment letter, dated October 17, 2005, as amended on February 22, 2006 (the “Employment Letter”). Pursuant to your relocation to join the company, VWR International, Inc. will cause SIRVA Relocation LLC to purchase your former house at its current fair market value of $970,000.00. VWR has agreed with SIRVA Relocation LLC that the house will be resold and any difference in the resale price will be for the benefit of, or will be the responsibility of, VWR. In recognition of the decrease in the value of this house, VWR agrees to pay you a special one-time bonus of $92,500.00.
The remaining terms of your Employment Letter will continue to apply and are not affected by this Amendment.
| Sincerely, |
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| /s/ Charles Canfield |
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| Charles Canfield |
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| Senior Vice President, Human Resources |
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| cc: | Charles B. Ames |
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| Richard J. Schnall |
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| ACCEPTED AND AGREED: |
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| /s/ John M. Ballbach |
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| John M. Ballbach |
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| Date: December 20, 2006 |
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