Amendment to Change of Control Severance Agreement between Company and Brian Reagan

Contract Categories: Human Resources › Change of Control Agreements
Summary

This amendment, dated April 8, 2005, modifies the Change of Control Severance Agreement between the company and Brian Reagan. It shortens the time frame in which the company must provide an offer or termination notice to Reagan from thirty days after a change in control to fifteen days following approval of the offer by the company's Board of Directors or Compensation Committee. All other terms of the original agreement remain unchanged.

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EX-10.62 4 y18781exv10w62.htm EX-10.62: AMENDMENT TO CHANGE OF CONTROL SEVERANCE AGREEMENT EX-10.62  

Exhibit 10.62
April 8, 2005
Brian Reagan
1853 Orchard Hill
St. Paul, MN 55118
     
Re:
  Amendment to Change of Control Severance Agreement
Dear Brian:
Reference is made to that certain Form of Change of Control Severance Agreement, dated as of June 14, 2004 (the “Agreement”). Capitalized terms used herein and not otherwise defined herein shall have the meanings given to those terms in the Agreement.
This letter shall serve to amend the time in which the Company must provide you with the Offer or Termination Advice.
The phrase “thirty (30) days after the Change in Control” contained in the last sentence of the first paragraph of Section 1 of the agreement is hereby deleted, and substituted therefor shall be the phrase “fifteen (15) days following the approval of the Offer by the Company’s Board of Directors or its Compensation Committee”.
Except as modified hereby, the Agreement shall remain unmodified and in full force and effect.
Kindly signify your agreement to the foregoing by signing your name in the place indicated below.
Very truly yours,
/s/  Barry A. Posner
Barry A. Posner
Executive Vice President and General Counsel
Agreed to and Accepted By:
/s/ Brian Reagan
 
Brian Reagan