THREE MONTHS ENDED
Exhibit 10(y)
AMENDMENT
TO
THE SCOTTS COMPANY 1992 LONG TERM INCENTIVE PLAN
2005 AMENDMENT
WHEREAS, the shareholders of The Scotts Company (Scotts) previously approved the adoption of The Scotts Company 1992 Long Term Incentive Plan (the Plan); and
WHEREAS, on March 18, 2005 (the Effective Time), Scotts consummated the restructuring of Scotts corporate structure into a holding company structure by merging Scotts into a wholly-owned second-tier Ohio limited liability company subsidiary, The Scotts Company LLC (Scotts LLC), pursuant to the Agreement and Plan of Merger, dated as of December 13, 2004 (the Merger Agreement), by and among Scotts, Scotts LLC and The Scotts Miracle-Gro Company (the Company); and
WHEREAS, pursuant to the Merger Agreement, the Company assumed, as of the Effective Time, the Plan and all obligations and liabilities of Scotts thereunder; and
WHEREAS, Section 10 of the Plan provides that the Companys Board of Directors (the Board) may amend the Plan at any time; and
WHEREAS, the Board has resolved to amend the Plan to reflect the Companys assumption of the Plan;
NOW, THEREFORE, the Plan is amended effective as of the Effective Time as follows:
1. The title of the Plan is amended to be The Scotts Miracle-Gro Company 1992 Long Term Incentive Plan.
2. Section 2.1(i) of the Plan is amended and restated to read, in its entirety, as follows: Company means The Scotts Miracle-Gro Company, an Ohio corporation, and any successor thereto.
3. Section 2.1(s) of the Plan is amended and restated to read, in its entirety, as follows: Plan means The Scotts Miracle-Gro Company 1992 Long Term Incentive Plan, as in effect from time to time.
IN WITNESS WHEREOF, the Company has caused this Amendment to be executed as of the 6th day of May, 2005, to be effective as of March 18, 2005.
THE SCOTTS MIRACLE-GRO COMPANY | ||||
By /s/ Christopher L. Nagel | ||||
Print Name: Christopher L. Nagel | ||||
Title: | EVP and Chief Financial Officer | |||