Document:

exv10w2

Exhibit 10.2

July 20, 2011

Mr. Mark Klee Knoy

413 Pine Bend Drive

Wildwood, Missouri 63005

Dear Mark:

We are very pleased to extend to you an offer of employment as President and Chief Executive
Officer of American Commercial Lines Inc. (the “Company”). Your start date will be August 8, 2011
(the “Start Date”). Following are the terms and conditions of our offer.

BASE PAY COMPENSATION. Your base annualized salary will be $450,000. It will be paid in
accordance with the Company’s regular payroll process and procedures.

SIGN-ON BONUS. You will receive a one-time $100,000 sign-on bonus payable on your first regular
pay date. You agree to promptly reimburse the Company for the sign-on bonus if the Company
terminates your employment for Cause (as defined below) or you resign without Good Reason (as
defined below) within the 12-month period following the State Date. The amount of such
reimbursement shall be pro-rated based on the number of days you are employed by the Company during
such 12 month period.

INCENTIVE PAY COMPENSATION. You will be eligible to participate in the Company’s Annual Incentive
Compensation Plan that provides an “on-target” bonus equal to seventy-five (75%) of your base
salary at 100% of corporate plan achievement. Provided that you remain employed by the Company
through December 31, 2011, (i) your 2011 bonus will be guaranteed at $338,000, reflecting full-year
100% pay-out, and (ii) you will be entitled to an additional $100,000 one-time incentive payment.

PARTICIPATION PLAN. You will be eligible to participate in the Participation Plan (the “Plan”),
subject to the terms and conditions of the Plan, with an allocation of performance units equal to
2.0 percentage points which represents 25% of the management allocation pool.

VACATION. You will be entitled to four (4) weeks of paid vacation per calendar year, which vacation
will be taken at the reasonable and mutual convenience of you and the Company.

BENEFITS. You and your qualified dependents will be eligible to participate in the Company’s health
and welfare insurance programs that provide medical, dental and vision benefits, subject to the
terms and conditions thereof. In addition, the Company provides a 401(k) plan with a matching
contribution feature, life and accidental death and dismemberment insurance, short-term disability
salary continuance, and long-term disability insurance, subject to a thirty (30) calendar day
waiting period. Please note that the retirement, health and welfare benefit programs including
carriers, plan features and contributions are subject to change from time to time.

BUSINESS EXPENSES. All reasonable and necessary business travel, lodging, meals and other related
business expenses incurred by you in the course of performing your duties shall be reimbursed in
accordance with the Company’s expense reimbursement policy.

American Commercial Lines

 

 

RELOCATON EXPENSES. As provided by the Company’s Relocation Policy, you will be reimbursed for all
actual reasonable IRS tax qualified and non-qualified expenses related to the full service
transport of household goods, and temporary living accommodations and commuting expenses from
Wildwood, Missouri to the Jeffersonville, Indiana area for a period of up to six (6) months. As
provided in the Company’s Relocation Policy, non-qualified IRS relocation expenses, which are
subject to tax withholding and reporting, will be grossed-up. Your reimbursements and tax gross-ups
under this paragraph shall be limited to $100,000 in the aggregate and any expenses you incur in
excess of $100,000 shall be your responsibility. You agree to submit all reimbursement requests to
the Company promptly following the date the expense is incurred, but in no event later than
February 20, 2012. The company shall reimburse you for your relocation expenses, up to the $100,000
cap, no later than March 15, 2012.

CONDITIONS. This employment offer is contingent upon successful completion of a background
investigation, final reference checks, a pre-employment drug screen and your execution of the
Company’s standard confidential information and restricted covenant agreement applicable to senior
executives (the “Confidentiality Agreement”). You warrant that your employment by the Company does
not violate any existing agreement between you and any third party, nor will your employment with
the Company constitute a violation of any non-compete, confidentiality or non-disclosure agreement.

SEVERANCE. In the event that your employment is terminated (a) by the Company without Cause, which
shall not include termination due to your death or disability, or (b) by you for Good Reason, the
Company shall pay to you (i) an amount equal to twelve (12) months of your then current base
salary, which amount will be paid to you in periodic installments over the twelve month period
following your termination in accordance with the Company’s regular payroll schedule, and (ii) a
pro-rated bonus based on the number of days you are employed by the company during the applicable
calendar year and the level of achievement of corporate annual incentive plan objectives as of the
date of termination, as reasonably determined by the Company pursuant to the Company’s Annual
Incentive Compensation Plan, which pro-rated bonus shall be paid to you in a lump sum on the
sixtieth day following the date of your termination (collectively, clauses (i) and (ii) shall be
referred to herein as the “Severance”). Notwithstanding the foregoing, if you are entitled to
Severance in 2011 the amount of your pro-rated bonus will be calculated by multiplying $338,000 by
a fraction, the numerator of which is the number of days you are employed by the Company during
calendar year 2011 and the denominator of which is 146. You shall not be entitled to any severance
pay or benefits under the Company’s Severance Policy. Your right to receive the Severance shall be
contingent upon you executing and not revoking a severance agreement and release in the form
provided to you by the Company (the “Release”) within the time period provided in such Release,
which time period shall not exceed 55 days following your termination of employment.

For purposes of this letter agreement, “Cause” means (i) your failure to substantially perform your
duties as an employee, (ii) your conviction, plea of no contest, plea of nolo contendere, or
imposition of unadjudicated probation for any felony or crime involving moral turpitude, (iii) your
unlawful use (including being under the influence) or possession of illegal drugs on the Company’s
or any of its affiliate’s premises or while performing your duties and responsibilities; or (iv)
your commission of an act of fraud, embezzlement, misappropriation, willful misconduct, or breach
of fiduciary duty against the Company or any of its affiliates. For purposes of this letter
agreement, “Good Reason” means, without your written consent (i) a material diminution in your
authority, duties or responsibilities, or (ii) a material diminution in your base salary or target
bonus; provided, however, that in all cases, prior to your termination for “Good Reason,” you must
give the Company written notice whereby you elect to resign for “Good Reason” and describe in
reasonable detail the events constituting “Good Reason.” Such notice must be provided to the
Company within 90 days of the initial occurrence of such events and the Company must be given 30
days to cure such events.

American Commercial Lines

 

 

AT WILL EMPLOYMENT. Subject only to the provisions related to Severance above, your employment is
at will, and either you or the Company may terminate the employment relationship at any time with
or without cause. We ask that you give us at least two (2) weeks’ notice if you wish to terminate
your employment.

ARBITRATION. In the event of any dispute or claim relating to or arising out of our employment
relationship, you and the Company agree that all such disputes shall be fully and finally resolved
by binding arbitration conducted by the American Arbitration Association in Indianapolis, Indiana.
Notwithstanding the foregoing, the Company will be entitled to specific performance and injunctive
relief in the event of a breach of any of the covenants contained in the Confidentiality Agreement,
in addition to any other remedy which may be available at law or in equity.

KEY PERSON INSURANCE. You agree that the Company shall have the right (but not the obligation) to
insure your life for the Company’s sole benefit. The Company shall have the right to determine the
amount of insurance and the type of policy. You agree to reasonably cooperate with the Company in
obtaining such insurance by submitting to reasonable physical examinations, by supplying all
information reasonably required by any insurance carrier, and by executing all necessary documents
reasonably required by any insurance carrier. You will incur no financial obligation by executing
any required document, and shall have no interest in any such policy.

GENERAL. You agree that the provisions of this letter are severable; and, if any portion thereof
shall be declared unenforceable, the same shall not affect the enforceability of all other
provisions hereof. The Company may assign its rights and obligations under this letter agreement
to any successor to all or substantially all of the business or the assets of the Company (by
merger or otherwise). None of your rights or obligations may be assigned or transferred by you
other than your rights to payments hereunder, which may be transferred only by will or operation of
law. This letter agreement shall be governed, construed, interpreted and enforced in accordance
with its express terms, and otherwise in accordance with the substantive laws of the State of
Indiana without reference to the principles of conflicts of law of the State of Indiana or any
other jurisdiction, and where applicable, the laws of the United States. This letter agreement may
not be modified, amended, or terminated except by an instrument in writing, signed by you and a
duly authorized officer of the company. The Company shall be entitled to withhold from any amounts
payable under this letter agreement any federal, state, local or foreign withholding or other taxes
or charges which the company is required to withhold.

SECTION 409A. Notwithstanding anything in this letter agreement to the contrary, any Severance that
is designated as payable upon your termination of employment shall be payable only upon your
“separation from service” from the Company (a “Separation from Service”) within the meaning of
Section 409A of the Internal Revenue Code of 1986, as amended (“Section 409A”) and, except as
provided below, any such Severance shall not be paid, or, in the case of installments, shall not
commence payment, until the date the Release becomes effective (the “Release Effective Date”). Any
installment payments that would have been made to you during the period immediately following your
Separation from Service but for the preceding sentence shall be paid to you within five (5) days of
the Release Effective Date and the remaining payments shall be made as provided in this letter
agreement. Any tax gross up payment, within the meaning of Section 409A, provided for in the
Company’s Relocation Policy shall be made by the end of the your taxable year next following the
your taxable year in which you remit the related taxes, provided that you provide the Company with
a reimbursement request reasonably promptly following the date such tax is due. Your right to
receive any installment payments under this letter agreement shall be
treated as a right to receive
a series of separate payments and, accordingly, each such installment payment shall at all times be
considered a separate and distinct payment as permitted under Section 409A. To the extent any
deferred compensation is intended to comply with and be subject to Section 409A (as opposed

American Commercial Lines

 

 

to any exception thereto), the Company may accelerate any such deferred compensation as long as
such acceleration would not result in additional tax or interest pursuant to Section 409A and as
long as such acceleration is permitted by Section 409A. The decision as to when to make any payment
within any specified time period shall solely be that of the Company.

***

I look forward to the contributions you will make to the Company. Enclosed are two copies of this
letter. Please sign both copies and return one to me.

	 	 	 	 	 

	 

	 	Very truly yours,	 	 
	 
	 	 	 	 
	 

	 	/s/ Eva M. Kalawski
 

Eva M. Kalawski
	 	 
	 

	 	Vice President and Secretary	 	 

ACCEPTED AND AGREED TO this

22 day of July, 2011

	 	 	 

	/s/ Mark Klee Knoy
 

Mark Klee Knoy

	 	 

American Commercial Linesexv10w3

EXHIBIT 10.3

July 19, 2011

David Huls

11165 Alameda Avenue

Inver Grove Heights, MN 55077

			
	RE:	 	Employment Agreement

Dear David:

We are pleased to extend to you an offer of employment as Senior Vice President and Chief Financial
Officer. You will report to Michael Ryan, President and Chief Executive Officer. Following are
the terms and conditions of our offer.

BASE PAY COMPENSATION

Your base annualized salary will be $305,000. It will be paid in accordance with the Company’s
regular payroll process and procedures and will be subject to all applicable withholdings.

INCENTIVE PAY COMPENSATION

You will be eligible to participate in the Company’s Annual Incentive Compensation (“AIC”) Plan
that provides an “on-target” bonus equal to sixty-five (65%) of your base salary. Any 2011
incentive bonus that may be payable will be prorated based on your service with the Company.

PARTICIPATION PLAN

You will be eligible to participate in the Finn Holding Corporation Participation Plan, subject to
the terms and conditions of the Plan. You will receive a grant award of performance units equal
to 8.75% of the total employee performance units allocated to the Plan.

VACATION

You will be entitled to four (4) weeks of accrued paid vacation per calendar year.

BENEFITS

Thirty (30) calendar days after your date of hire you and your qualified dependents will be
eligible to participate in the Company’s health and welfare insurance programs that provide
medical, dental and vision benefits. In addition, the Company provides life and accidental death
and dismemberment insurance, short-term disability salary continuance, and long-term disability
insurance following thirty (30) calendar days after your date of hire.

To assist with your transition from PBH, the Company will reimburse you for the cost of COBRA
expenses from your current carrier less the family coverage premium of the ACL benefit plan for
thirty days prior to your participation in ACL plan.

Please note that the health and welfare benefits program including carriers, plan features and
contributions are subject to change from time to time.

American Commercial Lines

 

 

RETIREMENT

Thirty (30) calendar days after your date of hire you will be eligible to participate in the
Company’s savings and retirement 401(k) plan. This plan, which provides a Company matching
contribution, allows participants to direct, on a pre- and post tax basis, income to the plan for
long-term investment retirement purposes. Please note that the savings and retirement 401(k)
plan including administrator, investment vehicles, fees, and the Company matching contribution are
subject to change from time to time.

BUSINESS EXPENSES

All reasonable and necessary business travel, lodging, meals and other related business expenses
incurred by you in the course of performing your duties shall be reimbursed.

CELL PHONE

ACL will reimburse your reasonable business expenses associated with the use of your personal cell
phone.

RELOCATON EXPENSES

As provided by the Company’s Relocation Policy, you will be eligible to receive relocation
assistance to include reimbursement of reasonable transaction closing costs (e.g., legal fees, bank
points, realtor commissions) associated with the sale of your home in Inver Grove Heights, MN and
the purchase of new home in the greater Jeffersonville, IN area. In addition, you will be
reimbursed for all reasonable IRS tax qualified and non-qualified expenses related to the full
service transport of household goods and temporary living accommodations. Note non-qualified IRS
relocation expenses, which are subject to tax withholding and reporting, will be grossed-up.

Commuting costs and temporary living expenses will be reimbursed for a period of twelve months.
These costs will include the following:

	§	 	Weekly flights home to MN, with flight times to accommodate office presence from 8AM Monday
through EOD Thursday (with Friday to be worked from home office) or noon Monday to noon
Friday. With no incremental cost to ACL this weekly flight can be arranged as a coach class
flight from MN to Louisville to accommodate the travel of Mrs. Huls;
	 
	§	 	Temporary living in an apartment in Louisville area, which includes the cost of associated
utilities;
	 
	§	 	Transportation costs to / from Minneapolis and Louisville airports to include either taxi
or parking charges in these respective locations as well as local transportation during the
commuting period in the Louisville area.
	 
	§	 	For purposes of house-hunting, travel costs for four trips during the commute period may be
made, for which ACL will purchase 3 coach class tickets with at least two weeks advance
notice.

All items not specifically addressed via this letter will be subject to the provisions of the
Relocation Policy.

PRE-EMPLOYMENT SCREEN

This employment offer is contingent upon successful completion of a background investigation and
pre-employment drug screen.

American Commercial Lines

 

 

SEVERANCE

In the event that your employment is terminated without cause the Company shall pay to you an
amount equal to twelve (12) months of your then current base salary. Any payments made by the
Company shall be governed and administered by the Company’s Severance Policy and (a) be subject to
appropriate withholdings and deductions, (b) be paid to you in periodic installments in accordance
with the Company’s regular payroll schedule, and (c) be contingent upon you executing a mutually
acceptable severance agreement and release.

AT WILL EMPLOYMENT

Your employment is at will, and either you or the Company may terminate the employment relationship
at any time with or without cause. We ask that you give us at least two (2) weeks’ notice if you
wish to terminate your employment.

RETURN OF COMPANY PROPERTY

Upon termination of your employment for any reason, you agree to return all documents, property,
software, materials, information and other records of ACL or a Platinum Equity LLC affiliate or
Platinum Equity LLC (individually and collectively, the “Group”), and all copies therefore, within
your possession, custody or control, including but not limited to any material containing trade
secrets or confidential information of the Group.

TRADE SECRETS/CONFIDENTIALITY

You agree not to disclose any trade secrets or confidential information of the Group to anyone else
and to hold this information in confidence and use it solely on a need-to-know basis in the course
of performing services for the Group. Except in the performance of services for the Group, you will
not reproduce, distribute, transmit, reverse engineer, decompile, disassemble, or transfer,
directly or indirectly, in any form, or for any purpose, any trade secrets or confidential
information of the Group. The obligations of this paragraph shall continue during the term of your
employment with the Group and (i) with respect to trade secrets, for so long as such information
constitutes a trade secret under applicable law, and (ii) with regard to confidential information,
for a period of three (3) years after the termination of your employment for any reason. As used in
this letter, the term “trade secrets” means any information (whether or not reduced to writing and
including any information recorded by any means) of or concerning the Group or any of their
respective officers, directors, owners, employees, licensors, suppliers, customers or joint venture
partners that derives economic value, actual or potential, by not being generally known to, and not
being readily ascertainable by proper means by others, including, without limitation: information
contained in any prospect list, employee list, contact list or other database; information
concerning banking or investment banking relationships; information included in
 any non-public documentation concerning transactions completed by the Group (including information
included in any “bound volumes” and document clips); information concerning the terms of any debt
or equity financings; information concerning compensation and other employment policies and
practices; information concerning the business methods, ownership, operations, financial
performance, assets or liabilities (including contingent liabilities) of the Group; information
concerning strategic, financial, marketing or product plans; technical data; and computer programs.

NON-SOLICITATION

You agree that, except with the Group’s written consent, for a period of twelve (12) months
immediately following termination of your employment with the Group for any reason, you will not,
directly or indirectly, either for your own account or for or on behalf of any other person or
entity, call upon, contact or attempt to effect any transaction with any acquisition candidate,
customer or prospect that was being pursued by the Group (or of which you otherwise became aware or
with which you had any contact) during the six (6) month period immediately preceding the
termination of your employment. You also

American Commercial Lines

 

 

agree that you will not contact, solicit or recruit, or assist others in contacting, soliciting or
recruiting for employment, any person who is or was an employee of the Group during the six (6)
month period immediately preceding the termination of your employment, in an attempt to have such
person terminate their employment relationship with terminate their employment relationship with
the Group or to work in any capacity in any other corporation, association, or entity or business.

EXISTING AGREEMENT VIOLATION

You warrant that your employment by the Company does not violate any existing agreement between you
and any third party, nor will your employment with the Company constitute a violation of any
non-compete, confidentiality or non-disclosure agreement.

GENERAL

You agree that the provisions of this letter are severable; and, if any portion thereof shall be
declared unenforceable, the same shall not affect the enforceability of all other provisions
hereof. It is the intent of the parties to this letter that if any portion of this letter contains
provisions which are held to be unreasonable, then in such event, a court shall fix the terms of
such agreement or shall enforce the terms and provisions hereof to the extent deemed reasonable by
the court.

I look forward to the contributions you will make to the Company. Enclosed are two copies of this
letter. Please sign both copies and return one to me.

Sincerely,

	 	 	 

	/s/ Michael Ryan
 

Michael Ryan

	 	 
	President and Chief Executive Officer
	 	 
	American Commercial Lines (ACL)
	 	 

By signing below, I agree to accept employment with ACL under the terms outlined herein. I
acknowledge and agree that my employment with ACL does not breach any agreements with any other
employer and I further agree to maintain the secrecy of, and not to use in any way, any
confidential or proprietary information or trade secrets belonging to any other employer in the
performance of my duties for ACL. I agree that I am not subject to any confidentiality or
non-compete agreement that might be violated by accepting this Offer or that restrict my ability to
fully perform my job with the Company. I understand and agree that this letter is provided for
information purposes only and does not guarantee employment for any definite duration. I understand
that my employment with the Company is at will and either party can terminate this relationship at
any time with or without cause. I acknowledge that this offer letter represents the entire
agreement between me and the Company and that no verbal or written agreements, promises or
representations that are not specifically stated in this offer are or will be binding on the
Company.

	 	 	 	 	 
	     /s/ David Huls
	 	7-27-11	 	 
	 	 	 
	David Huls
	 	Date	 	 

American Commercial Lines

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