Amendment to On Command Corporation 2001 Severance Pay Plan
This amendment updates the On Command Corporation 2001 Severance Pay Plan by excluding certain high-level executives from participating in the plan. Specifically, Senior Vice Presidents, Executive Vice Presidents, and the President and Chief Executive Officer of the company are now excluded. The amendment clarifies which employees are not eligible for severance benefits under the plan.
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Exhibit 10.3
Amendment to On Command Corporation 2001 Severance Pay Plan
RESOLVED, that Section 2.1(b) of the 2001 Plan be amended to add a new paragraph 2.1(b)(4) (adding a class of employees excluded from participation under the Plan) to read as follows:
(4) Senior Vice Presidents of the Company (but not Senior Vice Presidents of Affiliated Companies), Executive Vice Presidents of the Company, and the President and Chief Executive Officer of the Company.
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- Exhibit 10.3
