EXHIBIT 10.1
AMENDMENT NO. 4
to
EMPLOYMENT AGREEMENT
dated May 4,
1998
by and between
The Brink’s Company (the
“Company”),
Brink’s,
Incorporated
and
Michael T. Dan (the
“Executive”)
WHEREAS, the
Company, Brink’s, Incorporated and the Executive entered into
an employment agreement dated as of May 4, 1998, as amended as of
March 8, 2002, March 8, 2006 and November 14, 2008 (the
“Agreement”).
WHEREAS, the
Company, Brink’s Incorporated and the Executive desire to
amend the Agreement as set forth herein.
NOW, THEREFORE,
the Agreement is hereby amended as follows:
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The first
sentence of the second paragraph of Section 1 of the Agreement is
hereby amended by substituting the date “March 31,
2013” for the date “March 31, 2010”.
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The first
sentence of Section 3(a) of the Agreement is hereby amended by
substituting the phrase “one million, one hundred seven
thousand two hundred fifty ($1,107,250)” for the phrase
“one million, thirty-three thousand five hundred
($1,033,500)”.
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Section
4(b)(ii) of the Agreement is hereby amended by substituting the
date “March 31, 2013” for the date “March 31,
2010”.
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The fourth
sentence of Section 4(c) of the Agreement is hereby deleted in its
entirety and replaced with the following language:
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“The term
‘Due Cause,’ as used herein, shall mean (i)
embezzlement, theft or misappropriation by the Executive of any
property of the Company, (ii) the Executive’s willful breach
of any fiduciary
