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THIRD AMENDEMENT
TO TERMINATION BENEFITS AGREEMENT
This
Third Amendment to Termination Benefits Agreement dated as of
December 24, 2008 (this “Amendment”), further
amends the Termination Benefits Agreement made and entered into as
of December 22, 2003 (the “Agreement”) by and
among American Commercial Lines LLC (the “Company”) and
its affiliates and W. N. Whitlock (“Employee”) as
amended pursuant to the First Amendment and Supplement dated as of
April 30, 2004 and the Second Amendment and Supplement dated
as of January 18, 2005.
A. Employee
currently serves as Executive Vice President of Operations of
ACL.
B. The
Company and Employee desire to Amend the terms of the Agreement and
to continue their relationship under the Agreement as modified by
the provisions of this Amendment.
In
consideration of the foregoing, the mutual covenants herein
contained and the mutual benefits herein provided, the Company and
Employee hereby agree to amend the Agreement as follows:
1. To the
extent any payments made under the Agreement are due upon
termination and exceed the amount permitted t
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