{"id":39118,"date":"2015-09-17T11:25:58","date_gmt":"2015-09-17T16:25:58","guid":{"rendered":"https:\/\/content.findlaw-admin.com\/ability-legal\/contracts\/uncategorized\/employment-agreement-enron-corp-and-kenneth-l-lay9.html"},"modified":"2015-09-17T11:25:58","modified_gmt":"2015-09-17T16:25:58","slug":"employment-agreement-enron-corp-and-kenneth-l-lay9","status":"publish","type":"corporate_contracts","link":"https:\/\/corporate.findlaw.com\/contracts\/compensation\/employment-agreement-enron-corp-and-kenneth-l-lay9.html","title":{"rendered":"Employment Agreement &#8211; Enron Corp. and Kenneth L. Lay"},"content":{"rendered":"<pre>\n           SIXTH AMENDMENT TO EMPLOYMENT AGREEMENT\n\n     This Agreement, made and entered into and effective as\nof the 22nd day of April, 1994, by and among Enron Corp.\n(Company'), and Kenneth L. Lay ('Employee'), is an amendment\nto that certain Employment Agreement between the parties\neffective September 1, 1989 (the 'Employment Agreement').\n\n     WHEREAS, the parties desire to amend the Employment\nAgreement to provide for Employee and Company to establish a\nprogram for split dollar life insurance;\n\n     WHEREAS, Employee has certain rights and benefits under\nthe terms and provisions of the Enron Executive Supplemental\nSurvivor Benefit Plan, the Houston Natural Gas Corporation\nand Subsidiaries Executive Post-Retirement Salary\nContinuation Agreement and the Houston Natural Gas\nCorporation and Subsidiaries Executive Supplemental Benefit\nAgreement which will terminate, and be superseded by the\nprovisions of the Split Dollar Life Insurance Agreement;\n\n     NOW, THEREFORE, in consideration thereof, and of the\nmutual covenants contained herein, the parties agree as\nfollows:\n\n     1.   Contemporaneously with the execution of this\nAgreement, Company and Employee shall execute and deliver a\nform of Split Dollar Life Insurance Agreement ('Split Dollar\nAgreement') attached hereto as Exhibit A.\n\n     2.   Article 3, Section 3.3 Other Employee Benefits\nshall be amended by adding the following language:\n\n     As consideration for the Company to enter into the\n     Split Dollar Agreement on behalf of the Employee,\n     Employee irrevocably waives, renounces and forfeits any\n     and all rights to benefits under the Enron Executive\n     Supplemental Survivor Benefits Plan; the Houston\n     Natural Gas Corporation and Subsidiaries Executive\n     Post-Retirement Salary Continuation Agreement between\n     Employee and Houston Natural Gas Corporation dated July\n     1, 1985; and the Houston Natural Gas Corporation and\n     Subsidiaries Executive Supplemental Benefit Agreement,\n     excluding all rights as described under the terms and\n     provisions of Section 2 of the Houston Natural Gas\n     Corporation and Subsidiaries Executive Supplemental\n     Benefit Agreement, between Employee and Houston Natural\n     Gas Corporation dated November 12, 1984; all of\n     Employee's rights with respect thereto are rescinded.\n\n     3.   This Agreement is an amendment to the Employment\nAgreement, and the parties agree that all other terms,\nconditions and stipulations contained in the Employment\nAgreement shall remain in full force and effect and without\nany change or modification, except as provided herein.\n\n\n     IN WITNESS WHEREOF, the parties have duly executed this\nAgreement as of the date first above written.\n\n\nENRON CORP.\n\n\n\nBy:    JOHN H. DUNCAN         \nName:  John H. Duncan\nTitle: Chairman, Executive\n       Committee of Board of\n       Directors\n\n\n\n\nBy:    CHARLES A. LeMAISTRE   \nName:  Charles A. LeMaistre\nTitle: Chairman, Compensation\n       Committee of Board of\n       Directors\n\n\n\n\nKENNETH L. LAY\nKenneth L. Lay               \n\n\n\n<\/pre>\n","protected":false},"template":"","meta":{"_acf_changed":false,"_stopmodifiedupdate":true,"_modified_date":"","_cloudinary_featured_overwrite":false},"corporate_contracts_companies":[7454],"corporate_contracts_industries":[9535],"corporate_contracts_types":[9539,9544],"class_list":["post-39118","corporate_contracts","type-corporate_contracts","status-publish","hentry","corporate_contracts_companies-enron-corp","corporate_contracts_industries-utilities__gas","corporate_contracts_types-compensation","corporate_contracts_types-compensation__employment"],"acf":[],"_links":{"self":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts\/39118","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts"}],"about":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/types\/corporate_contracts"}],"wp:attachment":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/media?parent=39118"}],"wp:term":[{"taxonomy":"corporate_contracts_companies","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_companies?post=39118"},{"taxonomy":"corporate_contracts_industries","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_industries?post=39118"},{"taxonomy":"corporate_contracts_types","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_types?post=39118"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}