FIRST AMENDMENT TO THE RUBY TUESDAY, INC. CHANGE IN CONTROL SEVERANCE PLAN

Contract Categories: Human Resources › Change of Control Agreements
EX-10.3 4 ex10-3.htm AMENDMENT TO THE RUBY TUESDAY, INC. CHANGE IN CONTROL SEVERANCE PLAN, DATED APRIL 4, 2017 ex10-3.htm

FIRST AMENDMENT TO THE RUBY TUESDAY, INC.
CHANGE IN CONTROL SEVERANCE PLAN

 

Pursuant to Section 8.20 of the Ruby Tuesday, Inc. Change in Control Severance Plan (the “CIC Severance Plan”) the Board of Directors of Ruby Tuesday, Inc. has determined to amend the CIC Severance Plan as described in the provision below. Accordingly, effective as of April 4, 2017, the CIC Severance Plan shall be, and hereby is, amended, as follows:

 

 

1.

Appendix A of the CIC Severance Plan is hereby amended to read as follows:

 

“Appendix A – Covered Executives and Applicable Severance Multiples

 

Executive Name

 

Title

Severance Multiple
 

Chief Executive Officer

 

2x
 

Chief Legal Officer

 

2x
 

Chief Financial Officer

 

2x
 

President, Ruby Tuesday Concept

 

2x
 

Chief Development Officer

 

2x
 

Chief Marketing Officer

 

2x
 

Chief People Officer

 

2x
 

Vice President

 

1x


”

 

RATIFICATION AS AMENDED. Except as amended by this Amendment, the terms and conditions of the CIC Severance Plan are confirmed, approved and ratified, and the CIC Severance Plan, as amended by this Amendment, shall continue in full force and effect. Any reference to the “CIC Severance Plan” shall mean the CIC Severance Plan as amended by this Amendment.