EXHIBIT 10-U
AMENDMENT TO STOCK OPTION AGREEMENT
This is an Amendment effective as of August 10, 1995, to a
certain Stock Option Agreement dated November 10, 1994, between GUARDSMAN
PRODUCTS, INC., a Delaware corporation, and XXXX X. XXXXXX pursuant to
action of the Board of Directors of Guardsman Products, Inc.
Paragraph 2 of the November 10, 1994, Stock Option Agreement is
amended in its entirety as of the effective date of this Amendment to read
as follows:
2. TERM. The right to exercise this option, in whole or
in part, up to a total of 50,000 shares, shall commence on
December 31, 1994, for a period of 10 years thereafter. If any
portion of this option is not exercised during the 10-year period
of exercisability, the unexercised portion of the option shall
lapse.
Except as herein amended, said Option Agreement remains in full
force and effect as written.
GUARDSMAN PRODUCTS, INC.
By /S/ XXXXXXXX X. XXXXXXX, III
Xxxxxxxx X. Xxxxxxx, III
Chairman, Organization/Compensation
Committee
GRANTEE:
/S/ XXXX X. XXXXXX
Xxxx X. Xxxxxx
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