Sample Business Contracts

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

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                                     to the
                                ALBERTSON'S, INC.
                         1990 DEFERRED COMPENSATION PLAN

          This Amendment is made by  Albertson's,  Inc., a Delaware  corporation
the "Corporation").


          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.


         The Plan is hereby  amended,  as of November 1, 1998,  in the following

         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