EXHIBIT 10.7
FORM OF STOCK APPRECIATION RIGHTS AGREEMENT
THIS AMENDMENT is made this 3rd day of June, 1998, between
XXXXXX'X, INC., a Wisconsin corporation ("Xxxxxx'x") and
[EMPLOYEE NAME] ("Employee").
RECITALS:
1. The Employee and Xxxxxx'x are parties to certain "Stock
Appreciation Rights Agreements" dated as of [agreement dates]
(the "Existing Agreements"), entered into pursuant to the
Company's 1991 Stock Incentive Plan (the "Plan").
2. The Parties desire to amend the Existing Agreements, in the
manner set forth herein, to conform the Existing Agreements to
certain amendments made by Xxxxxx'x to the Plan.
AGREEMENT:
Therefore, in consideration of the premises and the
Employee's continued employment with Xxxxxx'x, Xxxxxx'x and the
Employee hereby agree as follows:
1. Amendment of Existing Agreements.
(A) Clause (a) of Section 7 of each of the Existing
Agreements is deleted and replaced with the following:
". . . (a) the Fair Market Value per share of the
Company Stock as of the date on which the SAR is
exercised and . . ."
(B) The Expiration Date of each of the respective Existing
Agreements, as set forth on Page 1 thereof, is extended to a date
five (5) years after the Expiration Date originally specified in
such Existing Agreement.
2. Agreements Otherwise Remain in Effect. Except as
expressly set forth above, the Existing Agreements remain in
force and effect in accordance with their original terms.
IN WITNESS WHEREOF, the parties have executed this
Amendment, as of the date first written above.
XXXXXX'X, INC.
By:
Xxxxxx X. Xxxxxxx, President & CEO
Attest:
*, Employee Xxxxxx X. Xxxx, Vice Pres., Secy. & Treas.