{"id":39123,"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-richard-d-kinder.html"},"modified":"2015-09-17T11:25:58","modified_gmt":"2015-09-17T16:25:58","slug":"employment-agreement-enron-corp-and-richard-d-kinder","status":"publish","type":"corporate_contracts","link":"https:\/\/corporate.findlaw.com\/contracts\/compensation\/employment-agreement-enron-corp-and-richard-d-kinder.html","title":{"rendered":"Employment Agreement &#8211; Enron Corp. and Richard D. Kinder"},"content":{"rendered":"<pre>              FIFTH AMENDMENT TO EMPLOYMENT AGREEMENT        \n        \n        \n        This Agreement, made and entered into on this 15th day\nof October, 1993, and made effective as of January 1, 1993,\nby and between Enron Corp. ('Enron'), a Delaware corporation\nhaving its headquarters at 1400 Smith Street, Houston, Texas\n77002, and Richard D. Kinder, ('Employee'), an individual\nresiding in Houston, Texas, is an amendment to that certain\nEmployment Agreement between the parties effective September\n1, 1989 (the 'Employment Agreement').\n\n     WHEREAS, the Employment Agreement incorporates the\nterms and provisions of a Stock Finance Agreement attached\nto the Employment Agreement as Exhibit C and a Loan\nCommitment Agreement attached to the Employment Agreement as\nExhibit D, as though recited therein in their entirety; and\n\n     WHEREAS, the parties desire to amend a certain\nprovision of the Stock Finance Agreement and the Loan\nCommitment Agreement;\n\n     NOW THEREFORE, in consideration thereof and of the\nmutual covenants contained herein, the parties agree as\nfollows:\n\n1.   Section 2.04 of the Stock Finance Agreement is deleted\nin its entirety and the following is substituted in its\nplace:\n\n     'SECTION 2.04.  Interest.  The Borrower shall pay\n     interest, compounded annually, on the unpaid principle\n     and interest at an annual rate determined under the\n     following formula:  I = A x AFR, where 'I' is the\n     amount of interest, 'A' is the amount of the Advance,\n     and 'AFR' is the applicable federal rate as defined\n     under U.S. Internal Revenue Code Section 1274 (d) in\n     effect during each month that the Advance is\n     outstanding.'\n\n2.   Section 2.05 of the Loan Commitment Agreement is\ndeleted in its entirety and the following is substituted in\nits place:\n\n     'SECTION 2.05.  Interest.  The Borrower shall pay\n     interest compounded annually, on the unpaid principal\n     and interest at an annual rate determined under the\n     following formulas for each Advance:  I = A x AFR,\n     where 'I' is the amount of interest, 'A' is the amount\n     rate as defined under U.S. Internal Revenue Code\n     Section 1274 (d) in effect during each month that the\n     Advance is outstanding.  The Borrower shall make\n     payments of accrued interest with respect to each\n     Advance on the anniversary date of an Advance, or at\n     the election of Borrower on the subsequent 31st day of December.'\n\n\n3.   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, as amended by any prior amendments thereto, shall\nremain in full force and effect and without any change or\nmodification, except as provided herein.\n\n     IN WITNESS WHEREOF, the parties have duly executed this\nAgreement as of the date first above written.\n\nENRON CORP.                             \n\n\nBy:  CHARLES A. LeMAISTRE\nTitle:  Chairman, Compensation Committee,\n     Enron Corp. Board of Directors\n\n\n\nRICHARD D. KINDER\n\nRICHARD D. KINDER\n\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-39123","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\/39123","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=39123"}],"wp:term":[{"taxonomy":"corporate_contracts_companies","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_companies?post=39123"},{"taxonomy":"corporate_contracts_industries","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_industries?post=39123"},{"taxonomy":"corporate_contracts_types","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_types?post=39123"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}