First Amendment to H.B. Fuller Company Key Employee Deferred Compensation Plan (2005 Amendment and Restatement)

Contract Categories: Human Resources › Compensation Agreements
Summary

This amendment, effective January 23, 2008, modifies the H.B. Fuller Company Key Employee Deferred Compensation Plan, which is a nonqualified, unfunded plan for select employees. The amendment changes the definition of "Change in Control" by increasing the relevant ownership threshold from 15% to 30%. All other terms of the plan remain unchanged. The amendment is executed by H.B. Fuller Company and applies to eligible employees of the company and its affiliates.

Read More Arrow
EX-10.11 3 dex1011.htm FIRST AMENDMENT OF KEY EMPLOYEE DEFERRED COMPENSATION PLAN First Amendment of Key Employee Deferred Compensation Plan

Exhibit 10.11

 

FIRST AMENDMENT

OF

H.B. FULLER COMPANY

KEY EMPLOYEE DEFERRED COMPENSATION PLAN

(2005 Amendment and Restatement)

 

H.B. Fuller Company (“H.B. Fuller”) and certain affiliated companies (“Employers” or “Employer,” as applicable) maintains a nonqualified, unfunded deferred compensation plan (the “Plan”) for the benefit of a select group of employees which is currently embodied in a document entitled “H.B. Fuller Company Key Employee Deferred Compensation Plan (2005 Amendment and Restatement)” (the “Plan Statement”). The Plan Statement is hereby amended as follows:

 

1.    DEFINITION OF CHANGE IN CONTROL. Effective January 23, 2008, Section 1.2.4(b) 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