Sample Business Contracts

1990 Deferred Compensation Plan [Amendment] - Albertson's Inc.

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                                ALBERTSON'S, INC.
                         1990 DEFERRED COMPENSATION PLAN

     This Amendment is made by Albertson's,  Inc., a Delaware  corporation  (the


A.   The   Corporation   established   the   Albertson's,   Inc.  1990  Deferred
     Compensation Plan effective January 1, 1990 (the "Plan").

B.   The Corporation,  pursuant to Section 10.1 of the Plan,  retained the right
     to amend the Plan and Section 10.1 provides that the Plan may be amended by
     the  Grantor  Trust  Committee  appointed  by the  Board  of  Directors  of
     Albertson's, Inc. (the "Committee").

C.   The Committee has determined  that it is advisable to amend the Plan in the
     manner hereinafter set forth.


     NOW,  THEREFORE,  be it resolved that the Plan is amended, as of January 1,
1998, in the following respects:

1.   Section 1.11 (originally Section 1.10) (relating to the term "Disabled") in
     Article I,  Definitions  is deleted and the other  sections are  renumbered

2.   Section 1.12 (originally Section 1.12 and formerly Section 1.13) in Article
     I,  Definitions  is amended  and  restated  to read,  in its  entirety,  as

     1.12  "Eligible  Employee"  means any  employee of the Employer who (i) (a)
     holds a position of Vice  President or above or is in the Company's  Salary
     Administration  Program  and (b) has a Base  Salary of  $55,000 or more (as
     indexed pursuant to the Salary Schedule Adjustment), or (ii) satisfies such
     other criteria as may be  established  by the Committee.  An employee shall
     cease to be an Eligible  Employee if the employee does not receive his Base
     Salary for four (4) or more consecutive weeks.

3.   All other  provisions of the Plan remain the same as in effect  immediately
     prior to this Amendment.

     IN  WITNESS  WHEREOF,  this  instrument  has  been  duly  executed  by  the
undersigned on this 5th day of November, 1997.

                                             ALBERTSON'S, INC.
                                             a Delaware corporation

                                             By:  /s/  Thomas R. Saldin
                                             Thomas R. Saldin
                                             Executive Vice President,
                                             Administration and General Counsel