Amendment No. 1 to Sequa Corporation Management Incentive Bonus Program for Corporate Executive Officers

Contract Categories: Human Resources › Bonus & Incentive Agreements
Summary

Sequa Corporation has amended its Management Incentive Bonus Program for Corporate Executive Officers, effective March 25, 2004. This amendment updates the titles of two participants in the program, changing "President/Chief Operating Officer" and "Senior Vice President/Gas Turbine Operations" to "Vice Chairman and Executive Officer" throughout the plan. The amendment does not alter the number of eligible participants or any other substantive terms of the bonus program.

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EX-10.26 6 exh10-26.htm AMENDMENT NO. 1 TO SEQUA'S INCENTIVE BONUS PROGRAM SEQUA CORPORATION

Exhibit 10.26

 

 

 

Sequa Corporation
 

Amendment No. 1 to

 

Management Incentive Bonus Program
 

for
 

Corporate Executive Officers
 
 

(Amendment Effective March 25, 2004)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

SEQUA CORPORATION

MANAGEMENT INCENTIVE BONUS PROGRAM

FOR CORPORATE EXECUTIVE OFFICERS

AMENDMENT NO. 1
 
 
 

This Amendment No. 1 is made by Sequa Corporation (the "Company") to the Sequa Corporation Management Incentive Bonus Program for Corporate Executive Officers (the "Plan").
 

WITNESSETH:
 

WHEREAS, the Company maintains the Plan; and
 

WHEREAS, the Company wishes to amend the Plan to reflect a change in

the titles of two of the participants in the Plan; and
 

WHEREAS, this amendment to the Plan does not and will not change the

number or pool of eligible participants in the Plan or otherwise substantively change any of the terms of the Plan.
 

NOW, THEREFORE, effective as of March 25, 2004, the Company hereby

amends the Plan as follows:

1.

The title "President/Chief Operating Officer" shall be replaced with "Vice

Chairman and Executive Officer" in every instance in which it appears in the Plan.
 

2.

The title "Senior Vice President/Gas Turbine Operations" shall be replaced

with "Vice Chairman and Executive Officer" in every instance in which it appears in the Plan.
 
 

IN WITNESS WHEREOF, this Amendment No. 1 to the Plan is hereby

executed on this 25th day of March, 2004.
 
 

SEQUA CORPORATION
 
 
 

By:___________________________
Jesse Battino
Vice President, Human Resources