Document:

exh_102.htm

Exhibit 10.2

 

 

Board of Directors of Exide Technologies

13000 Deerfield Parkway

Building 200

Milton, Georgia 30004

February 6, 2012

 

	
Mr. James R. Bolch

Chief Executive Officer

Exide Technologies

13000 Deerfield Parkway

Building 200

Milton, Georgia 30004

	  

Re:  Amendment to Employment Agreement dated June 10, 2010

 

Dear Mr. Bolch:

 

This letter agreement (“Amendment’) executed and delivered as an amendment to the Employment Agreement (as subsequently  modified, supplemented or amended from time to time, the “Employment Agreement”), dated as of June 10, 2010, by and between you, James R. Bolch, (the “Executive”) and Exide Technologies, a Delaware corporation (the “Company”).  Except as otherwise defined herein, capitalized terms used in this Amendment have the meanings assigned to them in the Employment Agreement.

 

The undersigned hereby acknowledge and agree as follows:

 

1.  Section 8(a)(iii) is deleted in its entirety and replaced with the following:

 

(i) In the event of termination of the Executive’s employment pursuant to Section 6(d), 6(e) or 6(g) that occurs:

 

(A)  prior to or more than 24 months following a Change in Control (as defined in the Exide Technologies Change in control Severance Plan as of the date of this Amendment), the Company shall pay to Executive on the day that is sixty (60) days following the Date of Termination (the “Severance Payment Date”) a lump sum cash payment equal to 225% of the Base Salary for the remainder of the Employment Period; provided, that, in no event will such amount be based on less than twelve (12) months remaining in the Employment Period; or

 

(B)  upon or during the 24 month period following a Change in Control, the Company shall pay to Executive on the Severance Payment Date a lump sum cash payment equal to 250%  of the sum of  Executive’s (x) Base Salary and (y) Target Bonus; provided, that if a notice of non-renewal is given by the Company following initiation of negotiations or 

  

  

  

affirmative Board actions in response to proposals that may result in a Change in Control, Executive shall be entitled to the payments provided for under this subsection 8(a)(iii)(B) regardless of whether the Date of Termination occurs before or after the Change in Control. Executive shall also be entitled to an immediate full vesting and lapse of all restrictions on any and all then outstanding equity-based long-term incentives, including but not limited to stock options, restricted stock, performance unit and performance share awards held by the Executive. For purposes of the performance unit and performance share awards, target goals will be assumed to have been achieved for purposes of determining the number of shares and/or units earned under such awards.  This provision shall override any conflicting language contained in Executive’s current or future long-term incentive plan award agreements.  In addition, the amount of clause B in Section 8(a)(v) below shall be deemed to be zero.

 

(C)  At any time during which Section 8(a)(iii)(B) of this Agreement is in effect, Executive shall not be eligible to participate in the Exide Technologies Change in Control Severance Plan.

2.           Amendment.  No provisions of this Amendment may be amended, modified, or waived unless such amendment, modification, or waiver is agreed to in writing signed by Executive and by a duly authorized officer of the Company, and such waiver is set forth in writing and signed by the party to be charged.  No waiver by either party hereto at any time of any breach by the other party hereto of any condition or provision of this Amendment to be performed by such other party shall be deemed a waiver of similar or dissimilar provisions or conditions at the same or at any prior or subsequent time.

 

3.           Governing Law.  This Amendment is governed by, and is to be construed and enforced in accordance with, the laws of Delaware without regard to principles of conflicts of laws. If, under such law, any portion of this Amendment is at any time deemed to be in conflict with any applicable statute, rule, regulation or ordinance, such portion shall be deemed to be modified or altered to conform thereto or, if that is not possible, to be omitted from this Amendment, and the invalidity of any such portion shall not affect the force, effect and validity of the remaining portion hereof.

 

4.           Counterparts.  This Amendment may be executed in two or more-counterparts, each of which shall be deemed to be an original but all of which together will constitute one and the same instrument.

 

5.           Effect on Employment Agreement.  Except as otherwise expressly set forth herein, this Amendment shall not, by implication or otherwise, alter, modify, amend or in any way affect any of the terms, conditions, obligations or agreements contained in the Employment Agreement and the Employment Agreement shall remain in full force and effect in accordance with its terms.

  

  

  

6.           Section Headings.  The section headings in this Amendment are for convenience of reference only, and they form no part of this Amendment and shall not affect its interpretation.

 

Please confirm your undersigning of, and legally binding agreement with, the foregoing by signing and returning a copy of this Amendment to the undersigned at the address set forth above.

 

Sincerely,

 

________________________________________

 

	  	 
	  	
John P. Reilly, Chairman of the Board of Directors

 

ACCEPTED AND AGREED:

 

 

 

____________________________

	  	  

 

James R. Bolch

Dated:__________________exh_103.htm

Exhibit 10.3

 

Seite/Side 1 von/of 3

	
ERGÄNZUNGSVEREINBARUNG

	
AMENDMENT AGREEMENT

	
 

zum Dienstvertrag

vom 27. November 2008

	
 

to the Employment Agreement

dated November 27, 2008

	
 

zwischen

 

	
 

between

	
Exide Technologies GmbH

Thiergarten

63654 Büdingen

 

- nachfolgend „GESELLSCHAFT“ genannt -

	
Exide Technologies GmbH

Thiergarten

63654 Büdingen

 

- hereinafter referred to as “Company”

	  	  
	
und / and

	
Herrn Michael Ostermann

[Straße]

[Stadt]

 

- nachfolgend „Herr Ostermann“ genannt-

	
Mr. Michael Ostermann

[Street]

[City]

 

- hereinafter referred to as “Mr. Ostermann” -

	  	  

	
Herr Ostermann ist seit dem 1. Januar 2009 als Geschäftsführer der GESELLSCHAFT angestellt. In § 12 (7) des zwischen den Parteien bestehenden Dienstvertrages vom 27. November 2008 (nachfolgend „Dienstvertrag“) ist eine Abfindungsregelung enthalten. Die Konzernmuttergesellschaft EXIDE Technologies, USA, beabsichtigt, einen Change In Control Executive Severance Plan (nachfolgend „CIC Severance Plan“) zu implementieren, der zu Informationszwecken der vorliegenden Ergänzungsvereinbarung als ANLAGE beigefügt ist und von dem auch Herr Ostermann erfasst sein soll. Vor diesem Hintergrund vereinbaren die Parteien folgende klarstellende Regelungen:

 

	
Mr. Ostermann is employed by the Company since January 1, 2009.  Section 12 (7) of the employment contract, dated November 27, 2008 which exists between the parties (hereinafter referred to as “Employment Agreement”) includes a severance provision.  The ultimate parent company EXIDE Technologies, USA, intends to implement a Change In Control Executive Severance Plan (hereinafter referred to as “CIC Severance Plan”) which is attached hereto as EXHIBIT for reasons of information and which shall cover Mr. Ostermann as well.  Against this background the parties hereby agree the following clarifying provisions:

 

	
1.

Es wird klargestellt, dass der unter bestimmten Umständen einschlägige Abfindungsanspruch von Herrn Ostermann gegen die GESELLSCHAFT gemäß § 12 (7) des Dienstvertrages von einem eventuellen Abfindungsanspruch gegenüber der EXIDE Technologies, USA, aus dem CIC Severance Plan unberührt bleibt.

 

	
1.

It is clarified that the severance claim of Mr. Ostermann against the Company which applies under certain conditions in accordance with Section 12 (7) of the Employment Agreement shall remain unaffected besides a possibly applying severance claim against EXIDE Technologies, USA, pursuant to the CIC Severance Plan.

 

 

  

  

 

Seite/Side 2 von/of 3

 

	
2.

Es wird des Weiteren klargestellt, dass jegliche Abfindungszahlung durch die GESELLSCHAFT gemäß § 12 (7) des Dienstvertrages einen eventuellen Anspruch von Herrn Ostermann auf Abfindung gegenüber der EXIDE Technologies, USA, auf Grund des CIC Severance Plans im Wege der Anrechnung in vollem Umfang reduziert.

 

	
2.

Furthermore, it is clarified that any severance payment by the Company in accordance with Section 12 (7) of the Employment Agreement shall - to its full extent - reduce by an offset mechanism the possibly applying severance claim of Mr. Ostermann against EXIDE Technologies, USA on the basis of the CIC Severance Plan.

	
3.

Dieser Vertrag ist zweisprachig ausgefertigt. Rechtlich bindend ist ausschließlich die deutschsprachige Version. Der englische Text dient lediglich zur Information.

	
3.

This agreement has been prepared in two languages. Only the German text is legally binding. The English version is for information purposes only.

	
 

 

Ort/Place: [_________]

Datum/Date: [________] 2012

 

 

 

 

 

................................................

GESCHÄFTSFÜHRER

Managing Director

	
 

 

EXIDE TECHNOLOGIES GMBH

represented by its

shareholders’ assembly /

vertreten durch

die Gesellschafterversammlung

 

 

 

...........................................................

EXIDE Transportation Holding Europe S.L.

 

By/Durch:

 

Title/Titel:

 

Place/Ort, Date/Datum: ............,

	  	
 

 

 

 

............................................................

EXIDE Holding Europe S.A.S

 

By/Durch:

Title/Titel:

 

    Place/Ort, Date/Datum: ...........,

 

  

  

  

Seite/Side 3 von/of 3

ANLAGE / EXHIBIT

[Change In Control Executive Severance Plan]

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