Second Amendment to Harris Teeter Supermarkets, Inc. Key Employee Life Insurance Plan
This amendment updates the Harris Teeter Supermarkets, Inc. Key Employee Life Insurance Plan. It clarifies that participants can assign ownership of their life insurance certificates to remove proceeds from their estate for tax purposes, following the certificate's terms. For any other type of assignment, participants must obtain written consent from the company. The amendment is effective as of May 17, 2012, and is executed by the company's Executive Vice President and Chief Financial Officer.
Exhibit 10.2
SECOND AMENDMENT
TO THE
HARRIS TEETER SUPERMARKETS, INC. KEY EMPLOYEE LIFE INSURANCE PLAN
By the authority granted the undersigned officer of Harris Teeter Supermarkets, Inc. (f/k/a Ruddick Corporation), this Second Amendment to the Harris Teeter Supermarkets, Inc. Key Employee Life Insurance Plan ("Plan") is hereby adopted and approved as follows:
| 1. | Section 4.04 of the Plan shall be amended and restated in its entirety as follows: |
4.04 Assignment of Certificate. If the Participant desires to assign all incidents of ownership of the Certificate in order to remove any proceeds of the Certificate from the Participant's gross estate for estate tax purposes, the Participant may make such assignment in accordance with the terms and conditions of the Certificate. If the Participant desires to assign any incidents of ownership of the Certificate for any other purpose, the Participant may make such assignment only with the written consent of the Company.
IN WITNESS WHEREOF, this Second Amendment to the Harris Teeter Supermarkets, Inc. Key Employee Life Insurance Plan is adopted effective May 17, 2012.
HARRIS TEETER SUPERMARKETS, INC.
By: /S/ JOHN B. WOODLIEF
John B. Woodlief, Executive Vice President and Chief Financial Officer
