Amendment to Smithfield Foods, Inc. 1998 Stock Incentive Plan

Contract Categories: Human Resources › Bonus & Incentive Agreements
Summary

This amendment, effective August 29, 2000, modifies the Smithfield Foods, Inc. 1998 Stock Incentive Plan by increasing the number of shares available for issuance under the plan. Specifically, the total shares are raised from 1,500,000 to 6,000,000, and the maximum shares for certain awards are increased from 300,000 to 2,000,000. The changes also account for a two-for-one stock split effective in September 2001. The amendment ensures more shares are available for employee incentives.

Read More Arrow
EX-10.6B 16 dex106b.htm EX-10.6B Prepared by R.R. Donnelley Financial -- EX-10.6B
 
EXHIBIT 10.6(b)
 
AMENDMENT TO
 
SMITHFIELD FOODS, INC.
1998 STOCK INCENTIVE PLAN
 
This Amendment to the Smithfield Foods, Inc. 1998 Stock Incentive Plan is made effective August 29, 2000.
 
 
1.
 
Section 4 of the Plan is amended by deleting the phrase “one million five hundred thousand (1,500,000)” and replacing it with “six million (6,000,000)”.
 
 
2.
 
Section 4 of the Plan is amended by deleting the phrase “three hundred thousand (300,000)” and replacing it with “two million (2,000,000)”.
 
(1)
 
The number of shares has been increased to reflect the effect of a two for one stock split effective in September 2001.