1990 Deferred Compensation Plan [Amendment] - Albertson's Inc.
AMENDMENT
to the
ALBERTSON'S, INC.
1990 DEFERRED COMPENSATION PLAN
This Amendment is made by Albertson's, Inc., a Delaware corporation
the "Corporation").
RECITALS:
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. and the Committee has granted the authority to amend the Plan
to the Grantor Trust Committee so long as such amendments do not materially
alter benefits; and
C. The Committee has determined that it is advisable to amend the Plan
in the manner hereinafter set forth and that such amendments does not materially
alter benefits.
AMENDMENT
The Plan is hereby amended, as of November 1, 1998, in the following
respects:
The last two sentences of Section 6.4 (a) of the Plan shall be deleted
and the following language shall be substituted in their place:
The Participant may modify the form of the distribution of all or part
of the Participant's Account, provided that such modification is made
on a validly executed and timely filed Deferral Agreement before the
end of the calendar year which ends at least twelve (12) months prior
to the date on which any distribution of the Participant's Account
shall have commenced.
IN WITNESS WHEREOF, this instrument has been duly executed by the
undersigned on this 11th day of November, 1998.
ALBERTSON'S, INC.
By:/s/ Thomas R. Saldin
Thomas R. Saldin
Executive Vice President,
Administration and General Counsel