Exhibit 10(g)
AMENDMENT
This is an Amendment, dated as of April 28, 1995, to an
Agreement dated December 1, 1994 between XXXXX INDUSTRIAL
CORPORATION ("Xxxxx") and XXXXX X. XXXXXX ("Xx. Xxxxxx").
PREAMBLE
Following the execution of the Agreement, Xxxxx'x Board of
Directors ("Board") approved at its April 1991 meeting the Xxxxx
Industrial Corporation Management Compensation Program a.k.a. the
Corporate Management Variable Compensation Program ("Program")
which replaced the prior compensation plan for management and
changed, among other things, levels of variable compensation which
could be earned if certain performance measurements were met. In Xx.
Xxxxxx'x case the Program provides for total variable compensation of
80% of Xx. Xxxxxx'x base salary when 100% variable compensation is
awarded. The prior plan provided for 40%.
At the April 1995 meeting, the Board acknowledged that the
Agreement's provision for severance pay failed to be updated to reflect
the change from 50% to 90% to properly reflect the Program.
Accordingly the Board approved the following Amendment to the
Agreement.
1. Severance Pay. Paragraph 5(a) of the Agreement is
amended hereby to provide:
(a) monthly severance payments which shall
continue for the term of the Compensation Period. The
amount of each monthly payment shall be equal to Xx.
Xxxxxx'x monthly salary for the last full month
immediately preceding his termination, plus one-twelfth
(1/12) of eighty percent (80%) of the total salary paid to
Xx. Xxxxxx during the one year period immediately
preceding his termination.
2. The Agreement in all other respects is not amended but
remains unchanged and the parties hereto, continue to be legally bound
by the Agreement as amended hereby.
XXXXX INDUSTRIAL CORPORATION
By: /s/Xxxxxx X. Xxxxxxx
Xxxxxx X. Xxxxxxx
Its: Chairman and Chief Executive Officer
/s/ Xxxxx X. Xxxxxx
Xxxxx X. Xxxxxx
AMENDMENT
This is an Amendment, dated as of April 28, 1995, to an
Agreement dated August 23, 1985 between XXXXX INDUSTRIAL
CORPORATION ("Xxxxx") and XXXXXXX X. XXXXXXXX ("Xx.
Xxxxxxxx").
PREAMBLE
Following the execution of the Agreement, Xxxxx'x Board of
Directors ("Board") approved at its April 1991 meeting the Xxxxx
Industrial Corporation Management Compensation Program a.k.a. the
Corporate Management Variable Compensation Program ("Program")
which replaced the prior compensation plan for management and
changed, among other things, levels of variable compensation which
could be earned if certain performance measurements were met. In Xx.
Xxxxxxxx'x case the Program provides for total variable compensation of
70% of Xx. Xxxxxxxx'x base salary when 100% variable compensation is
awarded. The prior plan provided for 40%.
At the April 1995 meeting, the Board acknowledged that the
Agreement's provision for severance pay failed to be updated to reflect
the change from 40% to 70% to properly reflect the Program.
Accordingly the Board approved the following Amendment to the
Agreement.
1. Severance Pay. Paragraph 5(a) of the Agreement is
amended hereby to provide:
(a) monthly severance payments which shall
continue for the term of the Compensation Period. The
amount of each monthly payment shall be equal to Xx.
Xxxxxxxx'x monthly salary for the last full month
immediately preceding his termination, plus one-twelfth
(1/12) of seventy percent (70%) of the total salary paid to
Xx. Xxxxxxxx during the one year period immediately
preceding his termination.
2. The Agreement in all other respects is not amended but
remains unchanged and the parties hereto, continue to be legally bound
by the Agreement as amended hereby.
XXXXX INDUSTRIAL CORPORATION
By: /s/Xxxxxx X. Xxxxxxx
Xxxxxx X. Xxxxxxx
Its: Chairman and Chief Executive Officer
/s/ Xxxxxxx X. Xxxxxxxx
Xxxxxxx X. Xxxxxxxx
AMENDMENT
This is an Amendment, dated as of April 28, 1995, to an
Agreement dated August 17, 1990 between XXXXX INDUSTRIAL
CORPORATION ("Xxxxx") and XXXXX X. XXXXXXXX ("Xx.
Xxxxxxxx").
PREAMBLE
Following the execution of the Agreement, Xxxxx'x Board of
Directors ("Board") approved at its April 1991 meeting the Xxxxx
Industrial Corporation Management Compensation Program a.k.a. the
Corporate Management Variable Compensation Program ("Program")
which replaced the prior compensation plan for management and
changed, among other things, levels of variable compensation which
could be earned if certain performance measurements were met. In Xx.
Xxxxxxxx'x case the Program provides for total variable compensation of
90% of Xx. Xxxxxxxx'x base salary when 100% variable compensation is
awarded. The prior plan provided for 50%.
At the April 1995 meeting, the Board acknowledged that the
Agreement's provision for severance pay failed to be updated to reflect
the change from 50% to 90% to properly reflect the Program.
Accordingly the Board approved the following Amendment to the
Agreement.
1. Severance Pay. Paragraph 5(a) of the Agreement is
amended hereby to provide:
(a) monthly severance payments which shall
continue for the term of the Compensation Period. The
amount of each monthly payment shall be equal to Xx.
Xxxxxxxx'x monthly salary for the last full month
immediately preceding his termination, plus one-twelfth
(1/12) of ninety percent (90%) of the total salary paid to
Xx. Xxxxxxxx during the one year period immediately
preceding his termination.
2. The Agreement in all other respects is not amended but
remains unchanged and the parties hereto, continue to be legally bound
by the Agreement as amended hereby.
XXXXX INDUSTRIAL CORPORATION
By: /s/Xxxxxx X. Xxxxxxx
Xxxxxx X. Xxxxxxx
Its: Chairman and Chief Executive Officer
/s/ Xxxxx X. Xxxxxxxx
Xxxxx X. Xxxxxxxx
AMENDMENT
This is an Amendment, dated as of April 28, 1995, to an
Agreement dated August 23, 1985 between XXXXX INDUSTRIAL
CORPORATION ("Xxxxx") and XXXXXX X. XXXXXXXXX ("Xx.
Xxxxxxxxx").
PREAMBLE
Following the execution of the Agreement, Xxxxx'x Board of
Directors ("Board") approved at its April 1991 meeting the Xxxxx
Industrial Corporation Management Compensation Program a.k.a. the
Corporate Management Variable Compensation Program ("Program")
which replaced the prior compensation plan for management and
changed, among other things, levels of variable compensation which
could be earned if certain performance measurements were met. In Xx.
Xxxxxxxxx'x case the Program provides for total variable compensation of
80% of Xx. Xxxxxxxxx'x base salary when 100% variable compensation is
awarded. The prior plan provided for 45%.
At the April 1995 meeting, the Board acknowledged that the
Agreement's provision for severance pay failed to be updated to reflect
the change from 45% to 80% to properly reflect the Program.
Accordingly the Board approved the following Amendment to the
Agreement.
1. Severance Pay. Paragraph 5(a) of the Agreement is
amended hereby to provide:
(a) monthly severance payments which shall
continue for the term of the Compensation Period. The
amount of each monthly payment shall be equal to Xx.
Xxxxxxxxx'x monthly salary for the last full month
immediately preceding his termination, plus one-twelfth
(1/12) of eighty percent (80%) of the total salary paid to
Xx. Xxxxxxxxx during the one year period immediately
preceding his termination.
2. The Agreement in all other respects is not amended but
remains unchanged and the parties hereto, continue to be legally bound
by the Agreement as amended hereby.
XXXXX INDUSTRIAL CORPORATION
By: /s/Xxxxxx X. Xxxxxxx
Xxxxxx X. Xxxxxxx
Its: Chairman and Chief Executive Officer
/s/ Xxxxxx X. Xxxxxxxxx
Xxxxxx X. Xxxxxxxxx
AMENDMENT
This is an Amendment, dated as of April 28, 1995, to an
Agreement dated August 23, 1985 between XXXXX INDUSTRIAL
CORPORATION ("Xxxxx") and XXXXX X. XXXXXX ("Xx. Xxxxxx").
PREAMBLE
Following the execution of the Agreement, Xxxxx'x Board of
Directors ("Board") approved at its April 1991 meeting the Xxxxx
Industrial Corporation Management Compensation Program a.k.a. the
Corporate Management Variable Compensation Program ("Program")
which replaced the prior compensation plan for management and
changed, among other things, levels of variable compensation which
could be earned if certain performance measurements were met. In Xx.
Xxxxxx' case the Program provides for total variable compensation of
70% of Xx. Xxxxxx' base salary when 100% variable compensation is
awarded. The prior plan provided for 40%.
At the April 1995 meeting, the Board acknowledged that the
Agreement's provision for severance pay failed to be updated to reflect
the change from 40% to 70% to properly reflect the Program.
Accordingly the Board approved the following Amendment to the
Agreement.
1. Severance Pay. Paragraph 5(a) of the Agreement is
amended hereby to provide:
(a) monthly severance payments which shall
continue for the term of the Compensation Period. The
amount of each monthly payment shall be equal to Xx.
Xxxxxx' monthly salary for the last full month
immediately preceding his termination, plus one-twelfth
(1/12) of seventy percent (70%) of the total salary paid to
Xx. Xxxxxx during the one year period immediately
preceding his termination.
2. The Agreement in all other respects is not amended but
remains unchanged and the parties hereto, continue to be legally bound
by the Agreement as amended hereby.
XXXXX INDUSTRIAL CORPORATION
By: /s/Xxxxxx X. Xxxxxxx
Xxxxxx X. Xxxxxxx
Its: Chairman and Chief Executive Officer
/s/ Xxxxx X. Xxxxxx
Xxxxx X. Xxxxxx
AMENDMENT
This is an Amendment, dated as of April 28, 1995, to an
Agreement dated March 31, 1987 between XXXXX INDUSTRIAL
CORPORATION ("Xxxxx") and XXXXXXX X. XXXXXXXX ("Xx.
Xxxxxxxx").
PREAMBLE
Following the execution of the Agreement, Xxxxx'x Board of
Directors ("Board") approved at its April 1991 meeting the Xxxxx
Industrial Corporation Management Compensation Program a.k.a. the
Corporate Management Variable Compensation Program ("Program")
which replaced the prior compensation plan for management and
changed, among other things, levels of variable compensation which
could be earned if certain performance measurements were met. In Xx.
Xxxxxxxx'x case the Program provides for total variable compensation of
80% of Xx. Xxxxxxxx'x base salary when 100% variable compensation
is awarded. The prior plan provided for 45%.
At the April 1995 meeting, the Board acknowledged that the
Agreement's provision for severance pay failed to be updated to reflect
the change from 45% to 80% to properly reflect the Program.
Accordingly the Board approved the following Amendment to the
Agreement.
1. Severance Pay. Paragraph 5(a) of the Agreement is
amended hereby to provide:
(a) monthly severance payments which shall
continue for the term of the Compensation Period. The
amount of each monthly payment shall be equal to Xx.
Xxxxxxxx'x monthly salary for the last full month
immediately preceding his termination, plus one-twelfth
(1/12) of eighty percent (80%) of the total salary paid to
Xx. Xxxxxxxx during the one year period immediately
preceding his termination.
2. The Agreement in all other respects is not amended but
remains unchanged and the parties hereto, continue to be legally bound
by the Agreement as amended hereby.
XXXXX INDUSTRIAL CORPORATION
By: /s/Xxxxxx X. Xxxxxxx
Xxxxxx X. Xxxxxxx
Its: Chairman and Chief Executive Officer
/s/ Xxxxxxx X. Xxxxxxxx
Xxxxxxx X. Xxxxxxxx
