Exhibit 10 (iii)A(62)(b)
AMENDMENT OF
ASPIRATION ACHIEVEMENT INCENTIVE AWARD AGREEMENT
FOR THE PERFORMANCE CYCLE ENDING AUGUST 31, 2001
WHEREAS, the undersigned Grantee was granted an Aspiration Achievement
Incentive Award ("Aspiration Award") under the NSI Long-Term Achievement
Incentive Plan (the "Plan") for the Performance Cycle ending August 31, 2001, as
evidenced by an Aspiration Achievement Incentive Award Agreement dated September
22, 1998 (the "Agreement"); and
WHEREAS, NSI, the Company, and the Grantee desire to amend the Agreement
as set forth hereafter;
NOW THEREFORE, the parties do hereby agree as follows:
1. Appendix A to the Agreement is amended by deleting the original
Appendix A and substituting the Appendix A attached hereto for all purposes of
the Agreement.
2. The effectiveness of this Amendment is subject to approval of an
amended and restated Plan by the stockholders of NSI at the Annual Meeting in
January 2000.
3. Capitalized terms used but not defined herein shall have the meaning
set forth in the Plan.
IN WITNESS WHEREOF, this Amendment has been duly executed by the parties
to the Agreement.
NATIONAL SERVICE INDUSTRIES, INC.
By:________________________________________________
Xxxxx X. Xxxxxxx
Chairman, President and Chief Executive Officer
NATIONAL SERVICE INDUSTRIES, INC. (GA)
By:________________________________________________
Xxxxx X. Xxxxxxx
Chairman, President and Chief Executive Officer
___________________________________________________
Name of Grantee: ((GRANTEE))
Aspiration Achievement Incentive Award Amended Appendix A -- Key Employees
Name Xxxxxxx X. XxXxx Xxxxxxx X. Xxxxxxxxx Xxxx X. Xxxxxx
Position SVP, Bus. Development VP, HiTek Group VP, Sales &
Marketing
Salary $198,485 $225,000 $205,000
Division National Linen Service Lithonia Lithonia
Total LTI 80% 80% 80%
Multiple
AAI % of LTI 70% 70% 70%
FY 99-01
Threshold 4.3 6 6
Commitment 7.3 26 26
Aspiration 16.4 114 114
Special NA 128 128
Individual AAI Opportunity
Threshold $27,788 $31,500 $28,700
Commitment $111,152 $126,000 $114,800
Aspiration $555,759 $753,333 $716,000
Special NA $1,000,000 $1,000,000
Aspiration Achievement Incentive Award Amended Appendix A - Division
Presidents
Name Xxxxxxx X. XxXxx
Position President
Salary $250,000
Division National Linen Service
Total LTI Multiple 100%
AAI % of LTI 70%
FY 99-01
Threshold 4.3
Commitment 7.3
Aspiration 16.4
Individual AAI Opportunity
Threshold $43,750
Commitment $175,000
Aspiration $874,998
Aspiration Achievement Incentive Award Amended Appendix A -- Executive Officers
Name Xxxxx X. Xxxxxxx Xxxxx X. Xxxxxx
Position Chairman & CEO EVP, Chief Financial Officer
Salary $800,000 $380,000
Division NSI Total NSI Total
Total LTI Multiple 160% 160%
AAI % of LTI 30% 30%
FY 99-01
Threshold 11.0 11.0
Commitment 59.0 59.0
Aspiration 177.0 177.0
Individual AAI Opportunity
Threshold $100,000 $45,600
Commitment $400,000 $182,400
Aspiration $2,000,000 $912,000
