AMENDMENT TO CHANGE OF CONTROL
SEVERANCE AGREEMENT
This Amendment to the Change of Control Severance Agreement as amended
(the "Severance Agreement"), by and between Melamine Chemicals, Inc., a
Delaware corporation (the "Company") and _________________ (the "Employee"),
is entered into as of August 6, 1997.
WHEREAS, the Company and Employee have entered into the Severance
Agreement to provide for certain benefits to Employee upon a Change of
Control of the Company, as defined in the Severance Agreement;
WHEREAS, Section 1(b) of the Severance Agreement provides that it shall
expire on November 15, 1997; and
WHEREAS, the Board of Directors of the Company has determined that it is
in the best interest of the Company and its shareholders to extend the term
of the Severance Agreement until November 15, 1998 in order to assure that
the Company will have the continued dedication of the Employee,
notwithstanding the possibility, threat or occurrence of a Change of Control
of the Company;
NOW, THEREFORE, for and in consideration of the continued dedication of
Employee to the Company, the parties hereto hereby agree as follows:
Section 1(b) of the Severance Agreement is hereby amended to read in its
entirety as follows:
(b) The "Change of Control Period" shall mean the period commencing
the date originally entered into and ending on November 15, 1998, unless
otherwise extended by the Company.
IN WITNESS WHEREOF, the Employee has hereunto set the Employee's hand
and, pursuant to the authorization of its Board of Directors, the Company
has caused these presents to be executed in its name on its behalf, all as
of the day and year first above written.
EMPLOYEE:
_________________________
(Name of Employee)
MELAMINE CHEMICALS, INC.
By: _________________________
Xxxx X. Xxxxx
President and
Chief Executive Officer
