Amendment to Supplemental Retirement Benefit Letter Agreement between The Advest Group, Inc. and Allen Weintraub

Contract Categories: Human Resources › Retirement Agreements
Summary

This agreement amends a previous letter agreement between The Advest Group, Inc. and Allen Weintraub regarding his supplemental retirement benefit. Effective upon the completion of a merger involving The MONY Group, Inc., the benefit amount is set at $300,000, and a provision for charitable contributions is removed. The amendment is only valid if the merger occurs and will not take effect if the merger agreement is terminated. The agreement is binding on the company and its successors and benefits Mr. Weintraub's beneficiaries.

Read More Arrow
EX-10.Z 7 y44389ex10-z.txt EXHIBIT 10(Z) 1 EXHIBIT 10(z) August 23, 2000 Mr. Allen Weintraub Re: Adjustment to Supplemental Retirement Benefit Dear Allen: Effective as of the effective time of the merger contemplated by the Agreement and Plan of Merger between The MONY Group, Inc., MONY Acquisition Corp. and The Advest Group, Inc. (the "Merger Agreement"), The Advest Group, Inc. (the "Company") hereby agrees to amend the letter agreement between you and the Company, dated January 28, 1999 (the "Letter Agreement") that amended your employment agreement dated November 30, 1995. The Letter Agreement is amended as follows: 1. Post-Employment Services. The second to last sentence of Paragraph 2 of the Letter Agreement shall be eliminated in its entirety and replaced with the following sentence: "The amount of the benefit described in Section 7(a)(1) of the Employment Agreement shall be treated for all purposes to be an amount equal to $300,000." 2. Charitable Contributions. Paragraph 7 of the Letter Agreement shall be deleted in its entirety. This agreement shall be of no further force and effect in the event of the termination of the Merger Agreement prior to the effective time of the merger. This letter shall be binding upon the Company and its successors and shall inure to the benefit of your beneficiaries. Yours truly, /s/ Grant W. Kurtz Grant W. Kurtz Chief Executive Officer Accepted and Acknowledged: /s/ Allen Weintraub - ------------------------- Allen Weintraub