form10q08062009b.htm


    
      
        

        

      

      Exhibit
10.1

       

      FIRST
AMENDMENT TO

      THE
BLACK & DECKER SUPPLEMENTAL PENSION PLAN

      (January
1, 2008 Restatement)

      


      


      Pursuant
to the powers of amendment reserved under Section 17 of The Black & Decker
Supplemental Pension Plan, as amended and restated effective January 1, 2008
(the “Plan”), Black & Decker (U.S.) Inc. (the “Sponsor”) hereby amends the
Plan as follows, effective on the dates specified herein:

       

      FIRST
CHANGE

       

      
        Effective
for any payment made after May 31, 2009, Section 5 of the Plan is amended by the
addition of the following as a new Section 5(c):

         

        
          
            	
                     
      

                  	
                    (c)

                  	
                    Notwithstanding
      the provisions of Section 5(a), and except as provided in Section 5(b),
      the Pension Committee may, in its discretion, direct that the Actuarial
      Equivalent of the Participant’s Supplemental Pension (including the
      Actuarial Equivalent of the remaining installments of the Participant’s
      Supplemental Pension) be paid to the Participant in a single lump sum
      payment provided that (i) such payment is in connection with and results
      in the complete termination and liquidation of the entirety of the
      Participant’s interest under the Plan and any other plan required to be
      aggregated with the Plan under Treas. Reg. §1.409A-1(c)(2), and (ii) the
      amount of the payment is not greater than the applicable dollar amount
      under Code Section
402(g)(1)(B).

                  


          

        

      

    

     

    
      SECOND
CHANGE

       

      Effective for any payment made after
May 31, 2009, Section 6 of the Plan is amended by the addition of the following
as a new Section 6(d):

       

      
        
          	
                   
      

                	
                  (d)

                	
                  Notwithstanding
      the provisions of this Section 6, and except as provided in Section 6(c),
      the Pension Committee may, in its discretion, direct that the Actuarial
      Equivalent of any death benefit (including the Actuarial Equivalent of the
      remaining installments of any death benefit) be paid to the Participant’s
      surviving spouse or Beneficiary (as applicable) in a single lump sum
      payment provided that (i) such payment is in connection with and results
      in the complete termination and liquidation of the entirety of the
      spouse’s or 

                


        

         

         

        
          
            
            

          

          
            
            

            
              

            

          

          
            
            

             

            
              	 	 	
                      Beneficiary’s
      interest under the Plan and any other plan required to be
      aggregated with the Plan under Treas. Reg. §1.409A-1(c)(2), and (ii) the
      amount of the payment is not greater than the applicable
      dollar amount under Code Section
402(g)(1)(B).

                    


            

             

            
              THIRD
CHANGE

               

              Effective
as of January 1, 2008, the references to Section 5(d) in Section 6(a) and in
Section 6(b) of the Plan are changed to Section 5(b) and Section 6(c)
respectively; and the reference to Section 5(d) in Section 6(c) of the Plan is
changed to Section 6(c).

              


              The Plan,
as amended by the foregoing change, is hereby ratified and confirmed in all
respects.

               

              IN
WITNESS WHEREOF, the Sponsor has caused this Amendment to be executed on
this 29th day of
May 2009.

               

               

              


              WITNESS:                                                                                                      BLACK & DECKER (U.S.)
INC.

               

              


              /s/
SIOBHAN E.
MILLER                                                                           By:   /s/ WILLIAM G. BRUNER,
III     

                                                                  Vice
President