AZZ INC
AMENDMENT NO. 2 TO EMPLOYMENT AGREEMENT OF DAVID H. DINGUS
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<TYPE>EX-10.(33)
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<FILENAME>dex1033.htm
<DESCRIPTION>AMENDMENT NO. 2 TO EMPLOYMENT AGREEMENT OF DAVID H. DINGUS
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<TITLE>Amendment No. 2 to Employment Agreement of David H. Dingus</TITLE>
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<P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2" COLOR="#000000"><B>EXHIBIT 10(33) </B></FONT></P><P STYLE="margin-top:0px;margin-bottom:0px"
ALIGN="center"><FONT FACE="Times New Roman" SIZE="2" COLOR="#000000"><B>AMENDMENT NO. TWO TO EMPLOYMENT AGREEMENT </B></FONT></P><P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P><P
STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2" COLOR="#000000">This Amendment No. Two to Employment Agreement (&#147;Amendment No. Two&#148;) is entered into as of the 15 day of May, 2003, between AZZ
incorporated, a Texas corporation, (the &#147;Company&#148;) and David H. Dingus, President and Chief Executive Officer of the Company (&#147;Employee&#148;). </FONT></P><P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P><P
STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2" COLOR="#000000">WHEREAS, the Company and Employee entered into an Employment Agreement effective March 1, 2001 and entered into Amendment No. One to it on
or about May 13, 2002 (the Employment Agreement and Amendment No. One to Employment Agreement being collectively referred to below as the &#147;Amended Employment Agreement&#148;); and </FONT></P><P STYLE="margin-top:0px;margin-bottom:0px"><FONT
SIZE="1">&nbsp;</FONT></P><P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2" COLOR="#000000">WHEREAS, the Company and the Employee desire to amend the Amended Employment Agreement in order to revise the
provisions of Section 4(c) relating to stock options in view of proposed amendments to the corporate governance rules of the New York Stock Exchange; </FONT></P><P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P><P
STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2" COLOR="#000000">NOW, THEREFORE, in consideration of the premises and in order to eliminate the necessity of submitting the Employment Agreement for
shareholder approval in the event of adoption of proposed amendments to the corporate governance rules of the New York Stock Exchange, it is agreed as follows: </FONT></P><P STYLE="margin-top:0px;margin-bottom:-6px"><FONT
SIZE="1">&nbsp;</FONT></P><P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2" COLOR="#000000">1. Section 4(c) of the Amended Employment Agreement is hereby canceled and removed in its entirety from the
Amended Employment Agreement, and the following Section 4(c) is added to the Amended Employment Agreement: </FONT></P><P STYLE="margin-top:0px;margin-bottom:-6px"><FONT SIZE="1">&nbsp;</FONT></P><P
STYLE="margin-top:0px;margin-bottom:0px; margin-left:8%"><FONT FACE="Times New Roman" SIZE="2" COLOR="#000000">(c) STOCK OPTIONS. Employee shall be eligible to receive such stock options as may be provided from time to time by Company. The Board has
the sole discretion to determine whether or not the Company shall offer stock options and, if so, the type, terms and provisions of any such stock options and the number, if any, to be granted to Employee and additionally shall have the sole
discretion to provide, or not provide, any other type of long term incentive to Employee. </FONT></P><P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P><P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT
FACE="Times New Roman" SIZE="2" COLOR="#000000">2. Except as amended by this Amendment No. Two to Employment Agreement, all of the terms and provisions of the Amended Employment Agreement are ratified, confirmed and approved. </FONT></P><P
STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P><P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2" COLOR="#000000">EXECUTED this the 15 day of May, 2003. </FONT></P><P
STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
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<TD VALIGN="top" COLSPAN="3" WIDTH="37%"> <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:2%; text-indent:-2%"><FONT FACE="Times New Roman" SIZE="2" COLOR="#000000">AZZ incorporated</FONT></P></TD></TR>
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<TD VALIGN="top" WIDTH="2%"> <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:2%; text-indent:-2%"><FONT FACE="Times New Roman" SIZE="2" COLOR="#000000">By</FONT></P></TD>
<TD VALIGN="bottom" WIDTH="3%"><FONT FACE="Times New Roman" SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" WIDTH="37%"> <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:2%; text-indent:-2%"><FONT FACE="Times New Roman" SIZE="2" COLOR="#000000">/s/ H. Kirk Downey</FONT></P><HR SIZE="1" NOSHADE COLOR="#000000"
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<TD><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" WIDTH="3%"><FONT FACE="Times New Roman" SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" WIDTH="37%"> <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:2%; text-indent:-2%"><FONT FACE="Times New Roman" SIZE="2" COLOR="#000000">H. Kirk Downey, Chairman of the Board</FONT></P></TD></TR>
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<TD VALIGN="top" COLSPAN="3" WIDTH="37%"> <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:2%; text-indent:-2%"><FONT FACE="Times New Roman" SIZE="2" COLOR="#000000">/s/ David H. Dingus</FONT></P><HR SIZE="1" NOSHADE COLOR="#000000"
ALIGN="left"></TD></TR>
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<TD VALIGN="top" COLSPAN="3" WIDTH="37%"> <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:2%; text-indent:-2%"><FONT FACE="Times New Roman" SIZE="2" COLOR="#000000">David H. Dingus</FONT></P></TD></TR>
</TABLE><P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
<P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2" COLOR="#000000">1 </FONT></P>

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