Executive Pension Makeup Plan [Amendment] - Albertson's Inc.
AMENDMENT
TO
ALBERTSON'S, INC. EXECUTIVE PENSION MAKEUP PLAN
WHEREAS, the Albertson's, Inc. Executive Pension Makeup Plan (the
"Plan"), was originally established effective on June 1, 1988 and was amended
November 27, 1989 to be effective January 1, 1990; and
WHEREAS, Albertson's, Inc. desires to amend the Plan retroactively to
January 1, 1990 to clarify certain provisions;
NOW, THEREFORE, effective January 1, 1990, the plan is amended as
follows:
1. Section 2.01 of the Plan is amended and restated to read in its
entirety as follows:
2.01 Eligibility to Participate. An Employee shall be
eligible to participate in the Plan only if specified, either by name
or by class of employees, by resolution of the Board of Directors of
the Employer. Once an Employee becomes a Participant, the Employee
shall remain a Participant until the earlier of the Participant's
death or the complete distribution of the Participant's Accrued
Benefit.
2. Section 3.01 (a) of the Plan is amended to add a new sentence at
the end thereof to read as follows:
If an Officer Participant becomes a Non-Officer Participant or
otherwise ceases to be in the eligible class of employees under
Section 2.01 without retiring or terminating employment with the
Employer, the Participant's benefit shall continue to accrue and be
calculated pursuant to this Section 3.01(a).
3. Section 3.01(b) of the Plan is amended to add a new sentence at
the end thereof to read as follows:
If a Non-Officer Participant ceases to be in the eligible class of
employees under Section 2.01 without retiring or terminating
employment with the Employer, the Participant's benefit shall continue
to accrue and be calculated pursuant to this Section 3.01(b).
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IN WITNESS WHEREOF, Albertson's, Inc. has caused this instrument to be
executed by its officer, duly authorized by its Board of Directors, this 4th
day of March, 1996.
ALBERTSON'S, INC.
By: THOMAS R. SALDIN
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Thomas R. Saldin
Its: Executive Vice President,
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Administration and General
Counsel
ATTEST:
KAYE L. O'RIORDAN
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Kaye L. O'Riordan
Corporate Secretary