EXHIBIT 10(ff)(2)
ARKLA, INC. AND SUBSIDIARIES
EXECUTIVE DISABILITY INCOME AGREEMENT
THIS EXECUTIVE DISABILITY INCOME AGREEMENT ("the Individual Disability
Income Agreement") made effective as of July 1, 1984, by and between Arkla, Inc.
("the Company"), a Delaware corporation with executive offices at 000 Xxxxx
Xxxxxx, Xxxxxxxxxx, Xxxxxxxxx 00000 and Tholbert Xxxxxx Xxxxx, Xx. ("Employee"),
Vice President, Corporate Development, Arkla, Inc., whose mailing address is c/o
Arkla, Inc., Xxxx Xxxxxx Xxx 00000, Xxxxxxxxxx, Xxxxxxxxx 00000;
WHEREAS, the Board of Directors has approved and adopted an Executive
Disability Income Plan ("the Plan") for those key employees of the Company whose
efforts have an important bearing upon the success of the Company; and
WHEREAS, the Board of Directors did, on July 1, 1984, designate
Employee as eligible to participate in the Plan;
WITNESSETH:
For and in consideration of the premises, and the mutual promises and
agreements herein contained, the Company and Employee hereby agree as follows:
(1) All of the terms and provisions of the Arkla, Inc. and Subsidiaries
Executive Disability Income Plan, a copy of which is attached hereto,
are hereby incorporated in this Individual Disability Income Agreement
as if set forth in full herein.
(2) Employee acknowledges and understands that the Plan may be terminated
at any time, in the sole discretion of the Company. If the Plan
termination is prior to the date on which he became Disabled as that
term is defined in the Plan, such termination shall be without any
obligation of any nature whatsoever to the Employee.
(3) Employee further acknowledges and understands that this Individual
Disability Income Agreement may be terminated at any time for any
reason by the Committee. If such termination is prior to the date on
which he became Disabled, the termination of this Individual Disability
Income Agreement shall be without any obligation of any nature
whatsoever to the Employee. If such termination is after the Employee
has become Disabled, then the rights of the Employee under this
Individual Disability Agreement shall not be affected whatsoever.
IN WITNESS WHEREOF, Arkla, Inc. and Employee have caused this
instrument to be executed in duplicate original counterparts on this 15th day of
July, 1984, effective as of July 1, 1984.
ATTEST: ARKLA, INC.
/s/ X. X. XXXXX By /s/ E. XXXXXXXXX XXXXXX
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X. X. Xxxxx E. Xxxxxxxxx Xxxxxx
Secretary Chairman of the Board
and Chief Executive Officer
/s/ THOLBERT XXXXXX XXXXX, XX.
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Tholbert Xxxxxx Xxxxx, Xx.
Employee
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