EXHIBIT 10b5
AMENDMENT TO SEVERANCE AGREEMENT
This AMENDMENT dated as of September 29, 1998 to the Severance
Agreement (the "Agreement") dated as of March 1, 1988, as amended, between
AMERICAN BRANDS, INC., a Delaware corporation (the "Company") and XXXX X. XXXXX
(the "Executive"),
W I T N E S S E T H :
WHEREAS, the Company (now known as Fortune Brands, Inc.) and the
Executive entered into the Agreement in order to provide severance benefits in
the event of termination of the Executive's employment; and
WHEREAS, in order to induce the Executive to continue in its employ
through December 31, 1999, the Company and the Executive desire to amend the
Agreement in order to provide severance benefits in the event that the Executive
resigns effective December 31, 1999;
NOW, THEREFORE, in consideration of the premises and to further assure
the retention of the Executive in the employ of the Company through December 31,
1999, the parties hereto do hereby agree as follows:
1. Section 1(f) of the Agreement is hereby amended by redesignating
clauses (iv) through (vi) thereof as clauses (v) through (vii), respectively,
and adding new clause (iv) thereto as follows:
"(iv) the effectiveness of the resignation of the Executive,
effective December 31, 1999, as a director, officer and employee of
the Company and from every position held by the Executive with the
Company and any of its subsidiaries;".
2. Executive hereby resigns, effective December 31, 1999, as a
director, officer and employee of the Company and from every position held by
the Executive with the Company and any of its subsidiaries.
IN WITNESS WHEREOF, the Company has caused this Amendment to Severance
Agreement to be signed by its officer thereunto duly authorized and its seal to
be hereunder affixed and attested and the Executive has hereunto set his hand as
of the date first written above.
FORTUNE BRANDS, INC.
By Xxxxxx X. Xxxxxxxxxx
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Xxxxxx X. Xxxxxxxxxx
Senior Vice President and
Chief Administrative Officer
(Corporate Seal)
ATTEST:
Xxxxx X. Xxxxxxx, Xx. Xxxx X. Xxxxx
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Secretary XXXX X. XXXXX
