Owens & Minor, Inc. Board Approval of Amendment to Executive Deferred Compensation Trust
Owens & Minor, Inc.'s Board of Directors has approved an amendment to its Executive Deferred Compensation Trust, allowing it to also hold contributions for the company's Supplemental Executive Retirement Plan (SERP). The trust is renamed the Owens & Minor, Inc. Deferred Compensation Trust. Company officers are authorized to take all necessary actions to implement this change. This amendment was recommended by the Compensation & Benefits Committee and adopted by unanimous board consent.
Exhibit 10.3
OWENS & MINOR, INC.
BOARD OF DIRECTORS
UNANIMOUS CONSENT
IN LIEU OF A MEETING
December 31, 2004
APPROVAL OF AMENDMENT TO EXECUTIVE DEFERRED COMPENSATION TRUST
WHEREAS, the Company established the Owens & Minor, Inc. Executive Deferred Compensation Trust (the “Trust”) to hold contributions associated with the Company’s obligations under the Owens & Minor, Inc. Executive Deferred Compensation Plan; and
WHEREAS, the Company also maintains the Owens & Minor, Inc. Supplemental Executive Retirement Plan (“SERP”); and
WHEREAS, the Company desires to amend and restate the Trust so that it also can hold contributions associated with the Company’s obligations under the SERP; and
WHEREAS, the Company has reserved the right to amend the Trust; and
WHEREAS, the Compensation & Benefits Committee recommends that the amendments specified should be adopted; and
WHEREAS, upon recommendation of the Compensation & Benefits Committee the Board of Directors hereby approves the amendment specified as presented.
NOW THEREFORE BE IT RESOLVED, that the Trust is hereby amended and restated (and renamed the Owens & Minor, Inc. Deferred Compensation Trust) in the form as presented.
RESOLVED, that the appropriate officers of the Company are hereby authorized and directed to take such actions and to execute such documents as may be necessary or desirable to implement the foregoing resolution, all without the necessity of further action by this Board.
