EXHIBIT 10(e)
Amendment No. 2 dated as of October 8, 1997 to Agreement dated
as of October 25, 1995, as supplemented by letter agreement dated
November 18, 1996 (the "Original Agreement"), between Insituform
Technologies, Inc. (the "Corporation") and Xxxxxx Xxxxxxxxx (the
"Vice Chairman").
W I T N E S S T H:
WHEREAS, the parties have entered into the Original Agreement
and desire to effectuate the amendments thereto hereinafter set
forth;
NOW, THEREFORE, in consideration of the mutual covenants and
agreements contained herein, the parties agree as follows:
1. Term. Paragraph A of Section II of the Original Agreement
is hereby amended by deleting the reference to "December 9, 1998"
and substituting therefor a reference to "December 9, 1999".
2. Payments. Paragraph A of Section III of the Original
Agreement is hereby deleted in its entirety and the following
paragraph substituted therefor:
"A. The Corporation hereby agrees to pay, and the
Vice Chairman hereby agrees to accept, as full
compensation for the services to be rendered by him under
Section I hereunder, an annual fee of $100,000, payable
in equal installments at the end of such regular payroll
accounting periods as are established by the Corporation,
or in such other installments upon which the parties
hereto shall mutually agree, during the period from the
date hereof through December 9, 1998 (such annual amount
to be appropriately pro rated in the event any period
shorter than one year falls within the period during
which such amount is due)."
3. Office Facilities. The last sentence of Paragraph B of
Section III of the Original Agreement is hereby deleted in its
entirely and the following sentence substituted therefor:
"During the Term, the Corporation shall furnish to the
Vice Chairman office facilities and secretarial services
at the Corporation's head offices equivalent to those
provided to him as of August 1, 1997."
3. Miscellaneous. Except as set forth herein, the Original
Agreement shall remain in full force and effect and continue to
bind the parties hereto. This Amendment No. 2 contains the entire
agreement of the parties with respect to the subject matter herein
and supersedes all other understandings, oral or written, with
respect thereto. This Amendment No. 2 may be executed in
counterparts, each of which shall be deemed an original and both of
which shall constitute one and the same agreement.
IN WITNESS WHEREOF, the undersigned have executed this
Amendment No. 2 as of the date first-above written.
INSITUFORM TECHNOLOGIES, INC.
By s/Xxxxxxx X. Xxxxxx
----------------------------
s/Xxxxxx Xxxxxxxxx
------------------------------
Xxxxxx Xxxxxxxxx
