Executive Change of Control Severance Plan
EX-10.VII 2 g00166exv10wvii.htm EX-10(VII) Ex-10(vii)
Exhibit 10(vii)
Executive Change of Control Severance Plan
| § | Plan change to comply with Section 409A of the Internal Revenue Code. | |
| § | Plan provides payment to executive in lump sum within five days of termination. | |
| § | 409A requires payment to be delayed for six months — interest at 10% per annum will accumulate from original date. | |
| § | The amount payable under the severance plan can be reduced by any amount payable under any separation plan. |
E-3
