Amendment to The Sports Club Company, Inc. 401(k) Profit Sharing Plan (November 6, 2000)

Summary

This amendment, approved by the Board of Directors of The Sports Club Company, Inc. on November 6, 2000, updates the company's 401(k) Profit Sharing Plan. The changes include extending the eligibility period for participation from six months to one year of service and modifying the timing for when employees can join the plan. The plan now allows entry on the first day of the quarter after eligibility requirements are met, instead of only on specific dates or plan anniversaries.

EX-10.75 5 v70894ex10-75.txt EXHIBIT 10.75 1 EXHIBIT 10.75 AMENDMENT TO THE SPORTS CLUB COMPANY, INC. 401(k) PROFIT SHARING PLAN ADOPTED NOVEMBER 6, 2000 By action taken November 6, 2000, the Board of Directors of The Sports Club Company, Inc. approved the following changes to The Sports Club Company, Inc. 401(k) Profit Sharing Plan: 1. Exhibit 2, Sections 2(a)(1) and 2(a)(2) of the Adoption Agreement are hereby amended by deleting "6 months from Employment Date" and substituting "1 Year of Eligibility Service", in lieu thereof. 2. Exhibit 3 of the Adoption Agreement is hereby amended by deleting the election of (e), "Plan Anniversary or the seventh month of the Plan Year coinciding with or next following satisfaction of all eligibility requirements" and substituting election (c) "first day of the Plan Year quarter following satisfaction of all eligibility requirements" in lieu thereof. 3. Exhibit 3, Sections 1(c) and 1(e) of the Adoption Agreement are hereby amended by deleting subsection (4) "other: January 1st and July 1st" from each such subsection (4) and substituting subsection 2 "as of the first day of the Plan Year quarter" in lieu thereof.