Exhibit 10.02
This FIRST AMENDMENT TO THE EQUITABLE COMPANIES INCORPORATED STOCK TRUST
AGREEMENT (the "Amendment") is dated as of September 19, 1996 and entered into
between The Equitable Companies Incorporated, a Delaware corporation (the
"Company"), and The Chase Manhattan Bank, a New York banking corporation
(successor in interest to The Chase Manhattan Bank, N.A., a national banking
corporation), as trustee (the "Trustee"), parties to The Equitable Companies
Incorporated Stock Trust Agreement effective as of December 2, 1993 (the
"Agreement"). Capitalized terms used herein without definition have the meanings
specified in the Agreement.
WHEREAS, it is in the best interests of the Plans and the Plan participants
to facilitate the sale of the Company's common stock by the Trust through
offerings registered pursuant to the Securities Act of 1933, as amended; and
WHEREAS, in order to facilitate such offerings it is desirable to modify
the definition of Trust Year in the Agreement;
NOW, THEREFORE, in consideration of the foregoing and the mutual covenants
and agreements set forth herein, the parties hereto agree as follows:
1. The definition of "Trust Year" in Section 1.5 of the Agreement is
hereby amended to read in its entirety as follows:
TRUST YEAR. "Trust Year" means each 12-month period beginning on
October 1 and ending on September 30 thereafter, PROVIDED that the initial
Trust Year shall be the period beginning on the date hereof and ending on
January 31, 1995, that the second Trust Year shall be the period beginning
on February 1, 1995 and ending on January 31, 1996 and that the third Trust
Year shall be the period beginning on February 1, 1996 and ending on
September 30, 1997.
2. This Amendment shall be effective as of the date first set forth above
upon execution by the parties hereto.
3. Except as specifically amended by this Amendment, the Agreement remains
in full force and effect.
4. The laws of the State of New York shall be controlling law in all
matters relating to this Amendment, without regard to conflicts of laws.
IN WITNESS WHEREOF, the Company and the Trustee have caused this Amendment
to be signed, and their seals affixed thereto, by their authorized officers all
as of the date first above written.
THE EQUITABLE COMPANIES THE CHASE MANHATTAN
INCORPORATED BANK, AS TRUSTEE
By: /s/ Xxxxx X. Xxxxx By: /s/ Xxxx X. Xxxxxxxxxx
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SCHEDULE B
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(Revised)
CUMULATIVE MAXIMUM DISTRIBUTION IN DOLLARS
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FROM THE TRUST
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Trust Year Ending January 31,
1995 $127,200,000*
1996 166,400,000
Trust Year Ending September 30,
1997 204,000,000
1998 240,000,000
1999 274,400,000
2000 307,200,000
2001 338,400,000
2002 368,000,000
2003 396,000,000
2004 422,400,000
2005 447,200,000
2006 470,400,000
2007 492,000,000
2008 and thereafter 100% of remaining
amount of Trust Assets
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* Dollar figures to be adjusted for inflation pursuant to Section 3.1.
