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EXHIBIT 10.2
SECOND AMENDMENT TO APPENDIX B, PAYMENT SCHEDULE,
TRUST UNDER VANS, INC. DEFERRED COMPENSATION PLAN
This instrument shall constitute the Second Amendment to the Payment
Schedule set forth in Appendix B of the Trust Under Vans, Inc. Deferred
Compensation Plan, made and entered into as of the 1st day of June, 1996, by and
between Vans, Inc., a Delaware corporation, and The Chase Manhattan Bank and
Trust Company of California, a California corporation.
Payment Schedule (Second Revision)
"Subject to the terms of the Plan, the remaining balance in the trust on
January 31, 2004, in quarterly amounts on February 15, 2004, May 15, 2004,
August 15, 2004 and November 15, 2004. The payments shall be made solely to
Xxxxxx Xxxxxxxxxx and, upon his death, such payments shall thereafter be made to
Easter Xxxxxxxxxx, if she is then living, or her estate if she dies before the
payments are completed, provided that she is married to Xxxxxx Xxxxxxxxxx on the
date of his death. If Xxxxxx Xxxxxxxxxx, shall survive Xxxxxx Xxxxxxxxxx, but
not be married to Xxxxxx Xxxxxxxxxx on the date of his death, or does not
survive Xxxxxx Xxxxxxxxxx, the remaining balance in the Trust shall be paid to
the Estate of Xxxxxx Xxxxxxxxxx on a quarterly basis.
In the event Xxxxxx Xxxxxxxxxx retires prior to December 31, 2003, the
payments shall be made in a lump sum based upon the remaining balance in the
trust on the 15th of the month following the month of retirement and shall be
payable prior to the end of such month.
The Trustee shall have no obligation to make any payments prior to February
15, 2004 unless notified in writing by the Company that Xxxxxx Xxxxxxxxxx has
retired.
VANS, INC., a Delaware Corporation
By: /s/ XXXXX XXXXXXXX
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THE CHASE MANHATTAN BANK AND
TRUST COMPANY OF CALIFORNIA,
a California Corporation
By: /s/ XXXXXXX X. XXXXXXXX
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Xxxxxxx X. Xxxxxxxx
Vice President
