Document:

Exhibit 10.17

 

AMENDMENT NUMBER TWO TO AMENDED AND RESTATED EMPLOYMENT
 AGREEMENT

 

This AMENDMENT NUMBER TWO TO AMENDED AND RESTATED EMPLOYMENT AGREEMENT (“Amendment”) is entered into as of February 23, 2011 between Thompson Creek Metals Company USA, a Colorado corporation (“Thompson Creek”), and Pamela L. Saxton (“Executive”), effective December 30, 2009 (the “Effective Date”).

 

RECITALS

 

WHEREAS, Thompson Creek and Executive entered into an Employment Agreement dated August 4, 2008;

 

WHEREAS, Thompson Creek and Executive subsequently entered into an Amended and Restated Employment Agreement effective December 30, 2009 and an Amendment to Employment Agreement effective August 5, 2010 (collectively, the “Agreement”), which Agreement remains in effect except as amended herein;

 

NOW THEREFORE, in consideration of the mutual promises and undertakings contained herein, the sufficiency of which is acknowledged by the parties hereto, Thompson Creek and the Executive agree to amend the Agreement as of the Effective Date as follows:

 

1.             A new paragraph 30 is hereby added to the Agreement as follows:

 

“PAYMENT PURSUANT TO RELEASE

 

30.           Notwithstanding anything to the contrary in this Agreement, in the event that a payment to be made under this Agreement provides for the deferral of compensation pursuant to section 409A of the Code and is pursuant to this Agreement to be made to Executive within sixty days of the Executive’s Termination of Employment but only upon the execution (and, if applicable, the nonrevocation) of a general release, then, if such sixty-day period begins in one taxable year of Executive and ends in a subsequent taxable year of Executive, such payment shall only be made in such subsequent taxable year.”

 

1

 

IN WITNESS WHEREOF, the parties have executed this Amendment on the dates written below.

 

 

EXECUTIVE:

 

 

	
Pamela   L. Saxton
    	
February 23, 2011
    	
 
    
	
Pamela   L. Saxton
    	
(Date)
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
THOMPSON CREEK METALS COMPANY USA:
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
/s/   Kevin Loughrey
    	
February 23, 2011
    	
 
    
	
By:   Kevin Loughrey
    	
(Date)
    	
 
    

 

 

Its: President and Chief Executive Officer

 

2Exhibit 10.20

 

AMENDMENT NUMBER TWO TO EMPLOYMENT AGREEMENT

 

This AMENDMENT NUMBER TWO TO EMPLOYMENT AGREEMENT (“Amendment”) is entered into as of February 23, 2011 between Thompson Creek Metals Company USA, a Colorado corporation (“Thompson Creek”), and S. Scott Shellhaas (“Executive”), effective December 30, 2009 (the “Effective Date”).

 

RECITALS

 

WHEREAS, Thompson Creek and Executive entered into an Employment Agreement dated December 30, 2009;

 

WHEREAS, Thompson Creek and Executive subsequently entered into an Amendment to Employment Agreement effective August 5, 2010 (collectively, the “Agreement”), which Agreement remains in effect except as amended herein;

 

NOW THEREFORE, in consideration of the mutual promises and undertakings contained herein, the sufficiency of which is acknowledged by the parties hereto, Thompson Creek and the Executive agree to amend the Agreement as of the Effective Date as follows:

 

1.             A new paragraph 30 is hereby added to the Agreement as follows:

 

“PAYMENT PURSUANT TO RELEASE

 

30.           Notwithstanding anything to the contrary in this Agreement, in the event that a payment to be made under this Agreement provides for the deferral of compensation pursuant to section 409A of the Code and is pursuant to this Agreement to be made to Executive within sixty days of the Executive’s Termination of Employment but only upon the execution (and, if applicable, the nonrevocation) of a general release, then, if such sixty-day period begins in one taxable year of Executive and ends in a subsequent taxable year of Executive, such payment shall only be made in such subsequent taxable year.”

 

1

 

IN WITNESS WHEREOF, the parties have executed this Amendment on the dates written below.

 

 

EXECUTIVE:

 

 

	
/s/   S. Scott Shellhaas
    	
February 23, 2011
    	
 
    
	
S.   Scott Shellhaas
    	
(Date)
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
THOMPSON CREEK METALS COMPANY USA:
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
/s/   Kevin Loughrey
    	
February 23, 2011
    	
 
    
	
By:   Kevin Loughrey
    	
(Date)
    	
 
    

 

 

Its: President and Chief Executive Officer

 

2Exhibit 10.23

 

AMENDMENT NUMBER TWO TO AMENDED AND RESTATED EMPLOYMENT
 AGREEMENT

 

This AMENDMENT NUMBER TWO TO AMENDED AND RESTATED EMPLOYMENT AGREEMENT (“Amendment”) is entered into as of February 23, 2011 between Thompson Creek Metals Company USA, a Colorado corporation (“Thompson Creek”), and Mark Wilson (“Executive”), effective December 30, 2009 (the “Effective Date”).

 

RECITALS

 

WHEREAS, Thompson Creek and Executive entered into an Employment Agreement dated December 1, 2006;

 

WHEREAS, Thompson Creek and Executive subsequently entered into an Amended and Restated Employment Agreement effective December 30, 2009 and an Amendment to Employment Agreement effective August 5, 2010 (collectively, the “Agreement”), which Agreement remains in effect except as amended herein;

 

NOW THEREFORE, in consideration of the mutual promises and undertakings contained herein, the sufficiency of which is acknowledged by the parties hereto, Thompson Creek and the Executive agree to amend the Agreement as of the Effective Date as follows:

 

1.             A new paragraph 30 is hereby added to the Agreement as follows:

 

“PAYMENT PURSUANT TO RELEASE

 

30.           Notwithstanding anything to the contrary in this Agreement, in the event that a payment to be made under this Agreement provides for the deferral of compensation pursuant to section 409A of the Code and is pursuant to this Agreement to be made to Executive within sixty days of the Executive’s Termination of Employment but only upon the execution (and, if applicable, the nonrevocation) of a general release, then, if such sixty-day period begins in one taxable year of Executive and ends in a subsequent taxable year of Executive, such payment shall only be made in such subsequent taxable year.”

 

1

 

IN WITNESS WHEREOF, the parties have executed this Amendment on the dates written below.

 

 

EXECUTIVE:

 

 

	
/s/   Mark Wilson
    	
February 23, 2011
    	
 
    
	
Mark   Wilson
    	
(Date)
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    
	
THOMPSON CREEK METALS COMPANY USA:
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
/s/   Kevin Loughrey
    	
February 23, 2011
    	
 
    
	
By:   Kevin Loughrey
    	
(Date)
    	
 
    

 

 

Its: President and Chief Executive Officer

 

2ex10_45.htm

EXHIBIT 10.45

FIRST AMENDMENT TO CHANGE IN CONTROL AGREEMENT

Amendment (this “Amendment”) to the change in control agreement (the “Agreement”) dated as of ________ __, ____, by and between USEC Inc. (the “Company”) and ________ (the “Executive”).  This Amendment is made as of _____________ __, 2010.

The Agreement provides for a reduction in Severance Benefits (as defined in the Agreement) in the event that (and only to the extent that) Severance Benefits would be otherwise subject to golden parachute excise taxes.  The parties wish to clarify more completely the order in which Severance Benefits would be reduced if necessary.

Therefore, the parties intending to be legally bound hereby agree as follows:

1.           Section 6(c) of the Agreement is amended to read in its entirety as follows:

“(c)  Notwithstanding any contrary provision of this Agreement, the Severance Benefits shall be reduced to the extent necessary so that no portion of such Severance Benefits shall be subject to the Excise Taxes, but only if the sum of (A) the net amount of such Severance Benefits, without reduction (but after imposition of the total amount of taxes under federal, state and local law) plus (B) the amount of the Excise Tax Payment in respect of such excess plus any interest or penalties payable by the Executive with respect to such excess (but after imposition of the total amount of taxes under federal, state and local law applicable to such additional payment) exceeds the net amount of such Severance Benefits, as so reduced (and after imposition of the total amount of taxes under federal, state and local law on such amounts or benefits).  Any reduction pursuant to this paragraph shall be made by agreement of the parties first from payments and benefits that are exempt from Code Section 409A, and only thereafter from benefits that are subject to Code Section 409A. To the extent any reduction of Severance Benefits pursuant to this paragraph is to be made from payments and benefits that are subject to Code Section 409A, such reduction shall first apply to in-kind benefits (or reimbursements) beginning with the benefits (or reimbursements) to be paid latest in time; second, to payments in the form of Shares, beginning with Shares to be delivered latest in time; third, with respect to cash payments, beginning with the cash payments to be made latest in time; provided that if two or more payments or benefits in the same category (in-kind benefits (or reimbursements), Shares, or cash) would be payable at the same time, the parties shall agree on the order in which the reduction shall occur.” 

2.           The Agreement, as amended by this Amendment, shall remain in full force and effect.

  

  

  

IN WITNESS WHEREOF, each of the parties hereto has caused this Amendment to be duly executed and delivered as of the date first above written.

USEC INC.

By: ____________________________________

Name:

Title:

AGREED AND ACCEPTED:

_____________________________

By:

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