EXHIBIT 10.1(k)(1)
[LETTERHEAD]
Date
Name
Address
Address
Re: Amendment to Change of Control Employment and Severance Agreement
Dear ____________________:
As you know, effective as of November 6, 2000, the Board of
Directors approved a change in the name of the corporation, subject to
shareholder approval at the Annual Meeting of Shareholders in or about April
2001. Once shareholder approval is obtained Universal Foods Corporation (the
"Corporation") will officially become Sensient Technologies Corporation. In
anticipation of such approval, the Corporation will begin to do business as
Sensient Technologies Corporation. In addition, the Corporation has changed its
fiscal year from the 12-month period beginning on October 1st, to the
twelve-month period beginning on January 1st. We would like to update your
Chance of Control Employment and Severance Agreement, to reflect the name change
and the change in the Corporation's fiscal year. To that end, please review the
following, sign and return a copy of this letter to: ___________________________
__________________________________ by no later than:___________________.
The Change of Control Employment and Severance Agreement entered
into 1w and between Universal Foods Corporation, and [NAME] dated as of [DATE]
is amended as follows:
1. The reference to "Universal Foods Corporation" in the
introductory paragraph is replaced with "Universal Foods Corporation d/b/a
Sensient Technologies Corporation, and effective upon shareholder approval, to
be known as Sensient Technologies Corporation".
2. Subparagraph (ii) of paragraph (b) of Section 4. Annual Bonus.,
is amended to read as follows:
"(ii) Annual Bonus. In addition to Annual Base Salary,
the Executive shall be awarded, for each fiscal year ending
during the Employment Period, an annual bonus (the "Annual
Bonus") in cash at least equal to the Executive's highest
bonus under the Company's [APPLICABLE PLAN NAME], or any
comparable bonus under any predecessor or successor plan, for
the last three full fiscal years prior to the Effective Date
(annualized in the event that the Executive was not employed
by the Company for the whole such fiscal year or in the event
of a short fiscal year consisting of less than twelve full
months) (the "Recent Annual
Bonus"). Each such Annual Bonus shall be paid no later than
the end of the third month following the close of the fiscal
year for which the Annual Bonus is awarded, unless the
Executive shall elect to defer the receipt of such Annual
Bonus."
UNIVERSAL FOODS CORPORATION
d/b/a SENSIENT TECHNOLOGIES CORPORATION
By: __________________________________________
Chairman & Chief Executive Officer
EXECUTIVE
______________________________________________
(Signature and Date)
