Second Amendment to Payment Schedule, Trust Under Vans, Inc. Deferred Compensation Plan (Vans, Inc. and The Chase Manhattan Bank and Trust Company of California)

Summary

This amendment updates the payment schedule for the trust under the Vans, Inc. Deferred Compensation Plan. It specifies that remaining trust funds will be paid quarterly in 2004 to Walter Schoenfeld, and, if he dies, to Esther Schoenfeld if she is his spouse at that time, or to their estates as applicable. If Walter retires before December 31, 2003, the balance will be paid in a lump sum. The trustee is not required to make payments before February 15, 2004, unless notified of Walter's retirement.

EX-10.2 4 v71160ex10-2.txt EXHIBIT 10.2 1 EXHIBIT 10.2 SECOND AMENDMENT TO APPENDIX B, PAYMENT SCHEDULE, TRUST UNDER VANS, INC. DEFERRED COMPENSATION PLAN This instrument shall constitute the Second Amendment to the Payment Schedule set forth in Appendix B of the Trust Under Vans, Inc. Deferred Compensation Plan, made and entered into as of the 1st day of June, 1996, by and between Vans, Inc., a Delaware corporation, and The Chase Manhattan Bank and Trust Company of California, a California corporation. Payment Schedule (Second Revision) "Subject to the terms of the Plan, the remaining balance in the trust on January 31, 2004, in quarterly amounts on February 15, 2004, May 15, 2004, August 15, 2004 and November 15, 2004. The payments shall be made solely to Walter Schoenfeld and, upon his death, such payments shall thereafter be made to Easter Schoenfeld, if she is then living, or her estate if she dies before the payments are completed, provided that she is married to Walter Schoenfeld on the date of his death. If Esther Schoenfeld, shall survive Walter Schoenfeld, but not be married to Walter Schoenfeld on the date of his death, or does not survive Walter Schoenfeld, the remaining balance in the Trust shall be paid to the Estate of Walter Schoenfeld on a quarterly basis. In the event Walter Schoenfeld retires prior to December 31, 2003, the payments shall be made in a lump sum based upon the remaining balance in the trust on the 15th of the month following the month of retirement and shall be payable prior to the end of such month. The Trustee shall have no obligation to make any payments prior to February 15, 2004 unless notified in writing by the Company that Walter Schoenfeld has retired. VANS, INC., a Delaware Corporation By: /s/ CRAIG GOSSELIN ---------------------------------- THE CHASE MANHATTAN BANK AND TRUST COMPANY OF CALIFORNIA, a California Corporation By: /s/ JEFFREY A. PHILPOTT ---------------------------------- Jeffrey A. Philpott Vice President