First Amendment to H.B. Fuller Company 2003 Directors' Deferred Compensation Plan

Contract Categories: Human Resources › Compensation Agreements
Summary

H.B. Fuller Company has amended its 2003 Directors' Deferred Compensation Plan, which provides deferred compensation benefits to non-employee board members. The amendment changes the definition of a "Change in Control" by increasing the ownership threshold from 15% to 30%. All other terms of the plan remain unchanged. This amendment was signed by the company's President and CEO on January 24, 2008.

Read More Arrow
EX-10.5 2 dex105.htm FIRST AMENDMENT OF 2003 DIRECTORS' DEFERRED COMPENSATION PLAN First Amendment of 2003 Directors' Deferred Compensation Plan

Exhibit 10.5

 

FIRST AMENDMENT

OF

H.B. FULLER COMPANY

2003 DIRECTORS’ DEFERRED COMPENSATION PLAN

 

H.B. Fuller Company (“H.B. Fuller”) maintains a nonqualified, unfunded deferred compensation plan (the “Plan”) for the benefit of the non-employee members of its board of directors which is currently embodied in a document entitled “H.B. Fuller Company Directors’ Compensation Plan (the “Plan Statement”). The Plan Statement is hereby amended as follows:

 

1.     DEFINITION OF CHANGE IN CONTROL. Effective January 23, 2008, Section 1.1(d)(ii) of the Plan Statement is amended by replacing the number “15%” with the number “30%.”

 

2.    SAVINGS CLAUSE. Save and except as hereinabove expressly amended, the Plan Statement shall continue in full force and effect.

 

 

Dated: January 24, 2008     H.B. FULLER COMPANY
      By:    /s/ Michele Volpi
     

Its:

  

President and Chief Executive Officer