Amendment to Briggs & Stratton Corporation Economic Value Added Incentive Compensation Plan

Summary

This amendment updates the Briggs & Stratton Corporation Economic Value Added Incentive Compensation Plan. It clarifies that the Compensation Committee of the Board of Directors will oversee the plan's design, administration, and interpretation. It also specifies that, for disability-related terminations, the effective date is when an employee starts receiving long-term disability benefits under the company's group insurance. The amendment authorizes company officers to take necessary actions to implement these changes.

EX-10.0 2 c60050ex10-0.txt AMENDMENT TO ECONOMIC VALUE ADDED INCENTIVE 1 BRIGGS & STRATTON CORPORATION FORM 10-Q for Quarterly Period Ended December 31, 2000 EXHIBIT NO. 10.0 AMENDMENT TO BRIGGS & STRATTON CORPORATION ECONOMIC VALUE ADDED INCENTIVE COMPENSATION PLAN WHEREAS, the Corporation desires to amend the Briggs & Stratton Corporation Economic Value Added Incentive Compensation Plan to make administrative changes under the Plan, NOW THEREFORE, BE IT RESOLVED, that the Plan be amended as follows: 1. Section II. Plan Administration, is amended to read as follows: "The Compensation Committee of the Board of Directors (the "Committee") shall be responsible for the design, administration, and interpretation of the Plan." 2. Section VII. D. is amended by adding the following sentence to the end of the first paragraph: "For purposes of this section, the date a participant is deemed to be terminated pursuant to disability shall be the date the employee begins receiving a monthly Long Term Disability Benefit under the Company's Group Insurance Plan." FURTHER RESOLVED, that the appropriate officers of this Corporation be and they hereby are authorized and directed to take any and all such further actions as they deem necessary or desirable in order to implement the foregoing resolutions, including the incorporation of the amendment into a restated Plan document.