Amendment No. 7 to Werner Holding Co. (PA), Inc. Stock Incentive Plan

Contract Categories: Human Resources › Bonus & Incentive Agreements
Summary

Werner Holding Co. (PA), Inc. has amended its Stock Incentive Plan to allow for new, revised EBITDA performance targets for certain participants, as designated by the Committee. Participants affected by this change will either sign an amendment to their existing agreement or enter into a new agreement reflecting the updated targets. All other terms of the original plan remain unchanged. This amendment was approved by the company's Board of Directors on April 15, 2004.

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EX-10.4 5 l08685aexv10w4.txt EX-10.4 AMENDMENT NO. 7 TO WERNER HOLDING CO. STOCK INCENTIVE PLAN EXHIBIT 10.4 AMENDMENT NO. 7 TO WERNER HOLDING CO. (PA), INC. STOCK INCENTIVE PLAN The Werner Holding Co. (PA), Inc. Stock Incentive Plan (the "Plan") is hereby amended as follows: 1. New, revised EBITDA targets as set forth below may be adopted for certain Participants in the Plan as designated by the Committee. Those Participants entitled to receive the revised EBITDA targets shall either enter into an amendment to the Participant's existing Agreement or a new Agreement reflecting such change. EARNINGS BEFORE INTEREST, TAXES, DEPRECIATION AND AMORTIZATION (IN THOUSANDS OF DOLLARS)
(A) (B) (C) Cumulative Fiscal Year Minimum Target Target - ----------- ------- ------ ---------- 2004 48,800 61,000 61,000 2005 55,600 69,500 130 ###-###-#### 61,800 77,100 207 ###-###-#### 66,800 83,500 291 ###-###-#### 74,400 92,900 384,100 2009 81,100 101,400 485,500
2. All other provision of the Plan unchanged hereby shall continue in full force and effect. Pursuant to Werner Holding Co. (PA), Inc. Board of Directors action dated April 15, 2004.