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EXHIBIT 10.5
FIRST AMENDMENT
CHANGE IN CONTROL AGREEMENT
THIS FIRST AMENDMENT, made as of this 26th day of February, 1999, by
and between BOWATER INCORPORATED, a Delaware corporation having a mailing
address of 00 Xxxx Xxxxxxxxxx Xxx, Xxxxxxxxxx, Xxxxx Xxxxxxxx 00000 (the
"Corporation"), and _____________________ of _____________________________ (the
"Executive").
WHEREAS, the Corporation and the Executive entered into a Change in
Control Agreement dated July 24, 1998 (the "Agreement") and
WHEREAS, in consideration of the grant of an Equity Participation Right
Award to Executive as of February 22, 1999, for 1,000 units at a xxxxx xxxxx of
US $39.78, the Executive has agreed to amend the definition of "Change in
Control" in the Agreement.
NOW THEREFORE, the Agreement is amended as follows:
Section 1(e)(iv) of the Agreement is amended to read as follows:
"(iv) The date on which less than 50% of the total
membership of the Board consists of Continuing
Directors."
Except as hereby amended, all other provisions of the Agreement shall
remain in full force and effect.
IN WITNESS WHEREOF, the parties have caused this First Amendment to be
executed as of the day and year first above written.
BOWATER INCORPORATED
By: _______________________________________ __________________________________
Name:______________________________________ Name: ____________________________
Title:_____________________________________ Date Signed: _____________________
Date Signed:_______________________________
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SCHEDULE TO EXHIBIT 10.5
FIRST AMENDMENT
CHANGE IN CONTROL AGREEMENTS
NAME DATE OF AGREEMENT
Xxxxxxx X. Xxxxxx 02/26/99
Xxxxx X. Xxxxxxx 02/26/99
