FIRST AMENDMENT TO DEATH BENEFIT AGREEMENT
Exhibit
10.20
FIRST
AMENDMENT TO
This is
the First Amendment to a Death Benefit Agreement dated June 2, 1994, by and
between Kellwood Company (“Company”), a Delaware corporation, and _____________
(“Employee”), an Employee of Kellwood Company.
WHEREAS,
the Death Benefit Agreement was entered into at a time when the Employee was a
participant of the Kellwood Company Pension Plan, a qualified retirement plan;
and
WHEREAS,
the Death Benefit Agreement defined Retirement in accordance with the provisions
of the Pension Plan; and
WHEREAS,
the Company has since terminated its Pension Plan, but the parties agree that
the same definition of Retirement should continue.
NOW
THEREFORE, for good and valuable consideration, the parties agree to amend the
Death Benefit Agreement as follows:
1. Paragraph
7 entitled “Retirement” shall be deleted in it entirety and a new paragraph 7
inserted as follows:
“Retirement.
Retirement is defined as a termination of an Employee’s employment (a) when the
Employee is either at least 65 years of age, or at least 55 years of age
and has
completed 15 years of continuous employment; or (b) when the Employee is
declared by the Compensation and Stock Option Committee of Kellwood Company’s
Board of Directors to be a Retiree.”
2. This
Amendment to the Death Benefit Agreement shall be effective as of December 8,
2000.
IN
WITNESS WHEREOF, the parties have signed below to indicate their consent and
agreement this _____ day of _________________, 2001.
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KELLWOOD
COMPANY | |
|
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By:
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Xxx X. Xxxxx | |
|
Chairman, President & CEO | |
|
EMPLOYEE | |
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By:
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