Exhibit 10.30
UNIVERSAL CORPORATION
AMENDMENT TO STOCK OPTION AND
EQUITY ACCUMULATION AGREEMENTS
This Amendment dated this 8/th/ day of December, 2000, is made to the
Agreement or Agreements listed on Exhibit A (the "Option Agreements", whether
one or more) between Universal Corporation (the "Company") and __________ (the
"Optionee").
The Company and the Optionee agree to amend each of the Option Agreements
as follows:
1. Paragraph 3 of each Option Agreement is hereby deleted and amended to read
in its entirety as follows:
3. Date Options Become Exercisable. Except as provided in subparagraph
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6A, any Option granted hereunder may not be exercised until at least six
(6) months after the date of grant thereof.
2. Subparagraph 6A of each Option Agreement is hereby deleted and amended to
read in its entirety as follows:
A. Subject to Automatic Exercise Program Termination. Except for
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exercises under the Automatic Exercise Program as provided in paragraph 5,
the Optionee shall not be able to exercise the Long-Term and Reload Options
until the earlier of (i) the date the Program terminates as provided in
subparagraph 5G or (ii) the date one (1) year prior to the Expiration Date.
On such date, such Options that have vested pursuant to paragraph 3 and
that have not been previously exercised under the Automatic Exercise
Program may be exercised in the manner provided in this paragraph 6.
During the one (1) year period prior to the Expiration Date, such Options
that have not vested pursuant to paragraph 3 and that have not been
previously exercised under the Automatic Exercise Program may only be
exercised in the manner provided in this paragraph 6.
3. Except as expressly amended hereby, the Option Agreements shall remain in
full force and effect in all respects and are hereby ratified and affirmed.
IN WITNESS WHEREOF, the Company has caused this Amendment to be signed by a
duly authorized officer, and Optionee has affixed his or her signature hereto.
UNIVERSAL CORPORATION OPTIONEE
By: ______________________________________ ______________________________
Xxxxxxx X. Xxxxxx, Vice President and [Optionee Name]
Chief Administrative Officer
EXHIBIT A TO
UNIVERSAL CORPORATION
AMENDMENT TO STOCK OPTION AND
EQUITY ACCUMULATION AGREEMENTS
1. 1991 Stock Option and Equity Accumulation Agreement dated
December 5, 1991, as amended.
2. 1994 Stock Option and Equity Accumulation Agreement dated
December 1, 1994, as amended.
3. 1997 Stock Option and Equity Accumulation Agreement dated
November 20, 1997, as amended.
4. 1999 Stock Option and Equity Accumulation Agreement dated
December 2, 1999.
