Supplement No. 5 to Employment Agreement between Edmond L. Peters and AM General Corporation (May 15, 2000)

Summary

This document is a supplement to the employment agreement between Edmond L. Peters and AM General Corporation. Effective May 15, 2000, it amends the salary to $225,000 per year and sets an annual bonus of $100,000 for each fiscal year ending October 31, starting with the year commencing November 1, 1999. All other terms of the original agreement and previous supplements remain unchanged.

EX-10.3.4 3 0003.txt SUPPLEMENT NO. 5, DATED MAY 15, 2000 - PETERS EXHIBIT 10.3.4 SUPPLEMENT NO. 5 dated May 15, 2000 to Employment Agreement dated May 1, 1992 between EDMOND L. PETERS and AM GENERAL CORPORATION, as amended by Supplement No. 1, dated December 16, 1993; Supplement No. 2, dated February 16, 1995; Supplement No. 3, dated September 25, 1996; and Supplement No. 4, dated October 13, 1997 3. Effective as of May 15, 2000, Section 2(a) of the Employment Agreement is amended to read in its entirety as follows: "(a) a salary at the rate of Two Hundred Twenty Five Thousand ($225,000) Dollars per year (or such greater amount as Employer may from time to time determine), payable periodically in accordance with the Employer's usual executive payroll payment procedures; plus" 4. Effective for the fiscal year commencing November 1, 1999, the introduction to Section 2(b) is amended to read in its entirety as follows: (c) an annual bonus of One Hundred Thousand ($100,000) Dollars for each fiscal year (ending October 31st), provided that Except as expressly modified hereby, all provisions of the Employment Agreement as supplemented by Supplement Nos. 1-4 shall remain in full force and effect. AM GENERAL CORPORATION By: __________________________ Employer By: __________________________ Employee _______________________ Witness