EXHIBIT (10)(G)
PS GROUP, INC.
0000 XX XXXXX XXXXXXX XXXXX
XXXXX 0000
XXX XXXXX, XXXXXXXXXX 00000
February 9, 1999
Xx. Xxxxxxxx X. Xxxxx
PS Group, Inc.
0000 Xx Xxxxx Xxxxxxx Xxxxx
Xxx Xxxxx, Xxxxxxxxxx 00000
Re: Employment Agreement
Dear Xxxxx:
As you know, Section 10 of your Employment Agreement dated as of January
15, 1988, between you and PS Group, Inc. contains a definition of "Change of
Control." In connection with the reorganization that resulted in the formation
of PS Group Holdings, Inc. in 1996, it was PS Group, Inc.'s intention that your
Employment Agreement would apply to a Change of Control of PS Group Holdings,
Inc., as well as a Change of Control of PS Group, Inc. We now suggest that this
intention be formalized. Your signature below constitutes your agreement that
Section 10 of your employment agreement is amended to cover not only Changes of
Control of PS Group, Inc., but also a "Change of Control" of PS Group Holdings,
Inc.
Please execute this letter in the space provided below to confirm your
agreement with the foregoing.
Sincerely,
/s/ Xxxxxxx X. Xxxxxxxxxxxxx, Xx.
----------------------------------
Xxxxxxx X. Xxxxxxxxxxxxx, Xx.
Chairman of the Board and
Chief Executive Officer
AGREED AND ACCEPTED:
/s/ X. X. Xxxxx
------------------------------
Xxxxxxxx X. Xxxxx
Dated: February 9, 1999
