FIRST AMENDMENT TO APPLETON PAPERS INC. TERMINATION PROTECTION AGREEMENT
Exhibit
10.14
FIRST AMENDMENT TO
APPLETON PAPERS
INC.
This
First Amendment (“Amendment”) to the Appleton Papers Inc. Termination Protection
Agreement effective April 4, 2005 (“Agreement”) is made by and among Appleton
Papers Inc. (the “Corporation”) and Xxxx X. Xxxxxxxx (the
“Executive”). The terms and conditions of this Amendment are as
follows:
1. Paragraph
3(b)(i) of the Agreement shall be deleted in its entirety and replaced with the
following:
an amount
in cash equal to the product of three (3), multiplied by the sum of the
Executive’s Base Salary and Target Bonus;
2. This
Amendment is effective upon execution and hereby becomes part of the
Agreement.
3. Except
as expressly modified herein, the Agreement between the Corporation and the
Executive shall remain unchanged and in full force and effect.
APPLETON PAPERS INC.
By: /s/ Xxxxxx
X. Xxxxxxxxxx
Xxxxxx X. Xxxxxxxxxx,
Secretary
For the Board of
Directors
EXECUTIVE
By: /s/ Xxxx
X. Xxxxxxxx
Xxxx X. Xxxxxxxx
CEO and President