Amendment to the Unifi, Inc. Supplemental Key Employee Retirement Plan
This amendment, effective December 31, 2017, modifies the Unifi, Inc. Supplemental Key Employee Retirement Plan, which provides extra retirement benefits to certain management employees. The change updates the investment fund used to adjust participant account balances, specifying that accounts will now be adjusted as if invested in the Vanguard Federal Money Market Fund (VMFXX). All other terms of the plan remain unchanged. The amendment is executed by an authorized officer of Unifi, Inc.
Exhibit 10.1
AMENDMENT
TO THE
UNIFI, INC. SUPPLEMENTAL KEY EMPLOYEE RETIREMENT PLAN
WHEREAS, Unifi, Inc. established the Unifi, Inc. Supplemental Key Employee Retirement Plan (the “Plan”), an unfunded supplemental retirement plan for the purpose of providing supplemental retirement benefits to a select group of management employees;
WHEREAS the Plan was originally effective as of July 26, 2006 and was amended effective as of January 1, 2009; and
WHEREAS, Unifi, Inc. now desires to amend the Plan to change the investment fund used to adjust Plan account balances.
NOW, THEREFORE, Unifi, Inc. does hereby amend the Plan, effective as of December 31, 2017, as follows:
1.Section 4.2(b) is amended in its entirety to read as follows:
“(b)Account Adjustments. Each Participant’s SERP Account shall be adjusted for each Valuation Period as if such SERP Account had been invested in the Vanguard Federal Money Market Fund (VMFXX).”
2.Except as expressly or by necessary implication amended hereby, the Plan shall continue in full force and effect.
IN WITNESS WHEREOF, the undersigned authorized officer of the Company has executed this instrument on behalf of the Participating Employers as of the 23rd day of January, 2018.
UNIFI, INC.
| By: /s/ John D. Vegas |
| Name: John D. Vegas |
| Title: Executive Vice President and |
| Chief Human Resources Officer |