Amendment to Employment Offer Letter between Reynolds American Inc. and Jeffrey A. Eckmann (Severance and LTIP Provisions)

Contract Categories: Human Resources › Separation Agreements
Summary

This amendment, dated February 2, 2005, modifies Jeffrey A. Eckmann's employment offer letter with Reynolds American Inc. It clarifies that after his projected employment termination on August 31, 2006, Eckmann will be eligible for severance benefits under a special agreement, pending board approval. Additionally, if he qualifies for these severance terms, any Long Term Incentive Plan (LTIP) awards will become fully vested on his last day of active employment. Eckmann accepted these terms by signing the amendment.

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EX-10.5 7 g93080k1exv10w5.htm EX-10.5 EX-10.5  

Exhibit 10.5

February 2, 2005

Jeffrey A. Eckmann
409 Orchard Park Drive
Bermuda Run, NC 27006

Dear Jeff:

     When signed in the space provided below, this document shall constitute an acceptance of an amendment to your offer of employment letter dated July 29, 2004.

     Your offer of employment letter is hereby amended by adding the following explanatory language regarding your eligibility for severance and the Company’s Long Term Incentive Plan (LTIP):

  •   Following the termination of your active employment, projected to be August 31, 2006, you will be eligible to receive severance under the terms of a Special Severance Benefits and Change of Control Protection agreement, subject to approval by the RAI Board of Directors.
 
  •   If you are terminated from active employment under circumstances that make you eligible for the terms of Special Severance Benefits and Change of Control Protections agreement, any LTIP granted to you will be deemed to be fully vested on your last day of active employment.

     Please indicate your agreement to the terms of this amendment by signing below and returning it to Ann Johnston. A copy will be provided to you.

             
    Sincerely,
 
            
    REYNOLDS AMERICAN INC.
 
            
  By:       /s/ Ann A. Johnston
       
          Ann A. Johnston
Executive Vice President
Human Resources
         
Acknowledged and Accepted:
    
 
    
     /s/ Jeffrey A. Eckmann
    
     Jeffrey A. Eckmann
    
 
    
Date:      February 4, 2005