First Amendment to The Scotts Company Retirement Savings Plan (Effective January 1, 2002)

Contract Categories: Human Resources › Retirement Agreements
Summary

This amendment to The Scotts Company Retirement Savings Plan ensures that employees become fully vested in their retirement accounts if they reach age 65, die, or become totally and permanently disabled while still employed. Disability is defined as qualifying for Social Security disability benefits. The amendment is effective January 1, 2002, and was executed by the company's Vice President of Global Benefits and Compensation.

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EX-10.H.2 4 l97330aexv10whw2.txt EX-10.H.2 FIRST AMNDT TO THE RETIREMENT SVNGS PLAN Exhibit 10(h)(2) First Amendment to The Scotts Company Retirement Savings Plan, effective as of January 1, 2002 FIRST AMENDMENT TO THE SCOTTS COMPANY RETIREMENT SAVINGS PLAN WHEREAS, The Scotts Company (the "Company") sponsors The Scotts Company Retirement Savings Plan (the "Plan"); and WHEREAS, the Company wants to amend the Plan to provide full vesting in the event a Participant becomes disabled while employed by the Company; NOW, THEREFORE, effective as of January 1, 2002, Section 7.2 of the Plan shall be amended to provide as follows: 7.2. FULL VESTING AT NORMAL RETIREMENT AGE, DEATH, AND DISABILITY. ------------------------------------------------------------- Notwithstanding any provision in this Plan to the contrary, all amounts credited to a Participant's Account shall be fully vested and nonforfeitable if the Participant attains age 65, dies, or becomes totally and permanently disabled prior to terminating employment. A Participant shall be considered to be totally and permanently disabled for purposes of this section only if the Participant qualifies for Social Security disability benefits. IN WITNESS WHEREOF, the Company has caused this Amendment to be executed as of the 20th day of May, 2002. THE SCOTTS COMPANY By: /s/ George Murphy ----------------------------------- Print Name: George Murphy --------------------------- Title: Vice President, Global Benefits and Compensation --------------------------------