Exhibit 10.3
NOTICE OF NON-RENEWAL
OF
CHANGE OF CONTROL AGREEMENT
Notice of non-renewal was adopted for all participating members of the executive
management group.
WHEREAS Crown Vantage Inc. (the "Company") and ____________ ("Executive") are
Parties to an Agreement dated as of the ____ day of _____________, 19___, which
Agreement is commonly referred to as the "Change of Control" Agreement, and
WHEREAS Section 1(b) of the Change of Control Agreement provides that the
"Change of Control Period" shall mean a three-year period from the date of the
Agreement, as extended, year to year at the Renewal Date, unless at least 60
days prior to the Renewal Date, notice is given that the Change of Control
Period shall not be so extended, and
WHEREAS Section 1(a) of the Change of Control Agreement defines the Effective
Date of that Agreement, and
WHEREAS the Effective Date has not yet come to pass, and
WHEREAS the Board of Directors of the Company (the "Board") has determined that
it is in the best interest of the Company and its shareholders to not extend the
Change of Control Period,
NOW THEREFORE, pursuant to Section 1(b) of the Change of Control Agreement, the
Board hereby gives written notice to Executive that as of the date hereof, the
Change of Control Agreement shall not be extended at the next Renewal Date.
Date: August 30, 1999 Crown Vantage Inc.
By: _________________________________
Xxxxxx X. Xxxx
President and Chief Executive Officer
