Amendment to 1998 Leveraged Incentive Plan Approved by Human Resources Committee

Contract Categories: Human Resources › Bonus & Incentive Agreements
Summary

The Human Resources Committee approved changes to the 1998 Leveraged Incentive Plan (LIP), effective April 1, 2000, following the spin-off of Energizer. The amendment sets the calculation of the Base Award for the entire LIP term on 100% controllable earnings, and the Peer Group Award on a comparison of total shareholder return between the Company and the S&P Food Index. These changes affect how employee incentives are determined under the plan.

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EX-10.XXVIII 10 0010.txt EXCERPT OF MARCH 16, 2000 HUMAN RESOURCES COMMITTEE MEETING MINUTES AMENDING 1998 LEVERAGED INCENTIVE PLAN After discussion, upon motion duly made and seconded, the Committee approved the amendment of the 1998 LIP, effective as of April 1, 2000 after the spin-off of Energizer, to calculate the Base Award, for the entire term of the LIP, based on 100% controllable earnings and the Peer Group Award, for the entire term of the LIP, based on a comparison of total shareholder return for the Company and total shareholder return calculated for the S&P Food Index.