SIXTH AMENDMENT TO EMPLOYMENT AGREEMENT
Exhibit 10.1
SIXTH AMENDMENT TO EMPLOYMENT AGREEMENT
SIXTH AMENDMENT dated as of February 18, 2009 (this “Amendment”) to EMPLOYMENT AGREEMENT dated
as of August 16, 2004, as amended (the “Agreement”) by and between TRW Automotive Inc. (the
“Company”) and Xxxx X. Xxxxxxx (“Executive”).
WHEREAS, in order to adjust Executive’s bonus eligibility, Executive and Company desire to
amend the Agreement as set forth below.
In consideration of the premises and mutual covenants herein, the parties agree as follows:
1. Defined Terms. Capitalized terms used herein but not defined shall have the
meanings assigned to them in the Agreement.
2. Amendment to Section 4 of the Agreement. The first sentence of Section 4 of the
Agreement shall be amended to read in its entirety as follows:
“Each fiscal year during the Employment Term beginning with the 2009 fiscal
year, Executive shall be eligible to earn an annual bonus award (an “Annual
Bonus”), the target of which will be ninety percent (90%) of Executive’s
Base Salary (the “Target Annual Bonus”) based upon the achievement of
objectives established by the Compensation Committee of the Board of
Directors of TRW Automotive Holdings Corp. annually for defined measures of
EBITDAP and cash flow.”
3. No Other Amendments; Effectiveness. Except as set forth in this Amendment, the
Agreement is ratified and confirmed in all respects. This Amendment shall be effective as of the
date hereof.
4. Governing Law. This Amendment shall be governed by and construed in accordance
with the laws of the State of New York, without regard to conflicts of laws principles thereof.
5. Counterparts. This Amendment may be signed in two or more counterparts, each of
which shall be deemed to be an original but all of which together shall constitute one and the same
agreement.
IN WITNESS WHEREOF, the parties hereto have duly executed this Amendment as of the day and
year first above written.
TRW Automotive Inc. |
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By: | /s/ Xxxx X. Plant | /s/ Xxxx X. Xxxxxxx | |||
Name: | Xxxx X. Plant | Xxxx X. Xxxxxxx | |||
Title: | President and Chief Executive Officer | ||||