Second Amendment to Employment Agreement between FleetBoston Financial Corporation and Paul F. Hogan

Contract Categories: Human Resources › Employment Agreements
Summary

FleetBoston Financial Corporation and Paul F. Hogan have amended their employment agreement, effective April 22, 2002. The amendment allows Mr. Hogan to designate a beneficiary to receive certain payments if he dies, specifically those under Section 5(a)(i) of the agreement. He can change this beneficiary at any time by submitting a form to the company. If no beneficiary is designated or survives him, the payments will go to his estate.

Read More Arrow
EX-10.(PP) 11 b45729fbexv10wxppy.txt EX-10(PP) SECOND AMENDMENT TO AGREEMENT - HOGAN EXHIBIT 10(pp) SECOND AMENDMENT TO EMPLOYMENT AGREEMENT The Employment Agreement by and between FLEET FINANCIAL GROUP, INC. (now FleetBoston Financial Corporation), a Rhode Island Corporation (the "Company"), and Paul F. Hogan (the "Executive"), dated as of March 14, 1999 as amended effective as of March 17, 2000 (the "Agreement"), is hereby further amended, effective as of April 22, 2002, as set forth below. The following is hereby added at the end of Section 10(a) of the Agreement: Notwithstanding the above, the Executive may designate a beneficiary who will be entitled to any portion of the payments under Section 5 (a)(i) to which the Executive is entitled in the event of his death. The beneficiary may be designated or changed by the Executive (without the consent of any prior beneficiary) on a form provided by the Company and delivered to the Company before his death. If no such beneficiary shall have been designated, or if no designated beneficiary shall survive the Executive, such payments , if not previously paid, shall be paid to the Executive's estate. IN WITNESS WHEREOF, the Executive and the Company have caused this Amendment to the Agreement to be entered into, as of the day and year as set forth above. /s/ PAUL F. HOGAN ---------------------------- Executive Signature FLEETBOSTON FINANCIAL CORP. /s/ M. ANNE SZOSTAK ---------------------------- By: M. Anne Szostak Title: Executive Vice President