50 of the Top 250 law firms use our Products every day
Amendment to
Key Executive
Employment Protection Agreement
This amendment
(this “Amendment”) to the Key Executive Employment
Protection Agreement (the “Agreement”) between Landstar
System, Inc., a Delaware corporation (the “Company”),
and Jeffrey L. Pundt (the “Executive”), dated
January 30, 1998, is entered into as of August 7,
2002.
WHEREAS, the
parties to the Agreement desire to amend the Agreement in certain
respects.
NOW THEREFORE, the
Agreement is hereby amended as follows:
1. Section 2(a)(ii)
of the Agreement is hereby deleted in its entirety and a new
Section 2(a)(ii) shall be added to read as follows:
(ii) the
Shareholders of the Company approve a definitive agreement (a
“Definitive Agreement”) (a) for the merger or
other business combination of the Company with or into another
corporation, a majority of the directors of which were not
directors of the Company immediately prior to the merger and in
which the shareholders of the Company immediately prior to the
effective date of such merger directly or
|