Amendment to Section 6.3(d) of Executive Stock Bonus Plan Regarding Cash in Lieu of Fractional Shares

Summary

This amendment modifies the Executive Stock Bonus Plan to specify that if a participant is entitled to receive fractional shares or securities, they will instead receive a cash payment equal to the fair market value of those fractions on the relevant distribution date. The amendment clarifies how such payments are calculated and when they are made, ensuring participants are compensated fairly for any fractional entitlements.

EX-10.(R)(II) 4 c27185_ex10rii.txt EXHIBIT 10 (r) (ii) AMENDMENT SECTION 6.3(d) OF EXECUTIVE STOCK BONUS PLAN (d) CASH IN LIEU OF STOCK If any fractional shares or securities would be issuable to a Participant in respect of Stock Units, in lieu thereof such fractional shares or securities shall be payable in cash based upon the Fair Market Value of such shares or securities on the Mandatory Distribution Date or Voluntary Distribution Date, as the case may be, or in the case of a distribution pursuant to Section 6.3(c), on the date of determination as provided for therein.