Exhibit 10.18
FIRST AMENDMENT TO AMENDED AND
RESTATED
CHANGE IN CONTROL SEVERANCE
AGREEMENT
This First Amendment (this “
Amendment ”) is made and entered into as of February
26, 2009 (the “ Effective Date ”), by and
between Marten Transport, Ltd., a Delaware corporation,
(the “ Company ”), located at 129 Marten
Street, Mondovi, Wisconsin 54755 and
,
an individual residing at
(the “ Executive ”).
RECITALS
WHEREAS, the Company and the
Executive entered into an Amended and Restated Change in Control
Severance Agreement, dated as of August 13, 2007
(the “ Severance Agreement ”);
WHEREAS, pursuant to the Severance
Agreement, the Company agreed in certain circumstances to pay or
reimburse the Executive for fees and expenses of the
Executive’s counsel; and
WHEREAS, the parties desire to
clarify how they intended that fees and expenses of the
Executive’s counsel, which would be paid or reimbursed by the
Company, be determined.
NOW, THEREFORE, in consideration of
the mutual covenants and agreements contained herein, the
Executive’s continued employment with the Company, the
Executive’s participation in the Company’s cash and
equity incentive plans, and benefits to the Executive under the
Severance Agreement, the Severance Agreement is hereby clarified
and amended as follows:
Amendment
.
Section 5 of the Severance Agreement is hereby amended to add
a new subsection (r) at the end thereof:
(r)
Attorneys&r