Document:

Prepared by R.R. Donnelley Financial -- Amendment to Employment Agmt. -Martinez de Hoz

 Exhibit 10.29 
  
  
 AMENDMENT TO EMPLOYMENT AGREEMENT 
 AND LONG TERM INCENTIVE PLAN OPERATING PROVISIONS 
  
 This agreement is made and entered into this 23rd day of October, 2000, by and between S.C. JOHNSON COMMERCIAL MARKETS, INC., Delaware corporation
(“CMI”) and Alejandro Martinez de Hoz (“Employee”) 
  
 WHEREAS, CMI and employee have entered into an
employment agreement dated November 8, 1999 (the “Employment Agreement”) and the Employee is a participant in the S. C. Johnson Commercial Markets, Inc. Long Term Incentive Plan (the “LTIP”) and has executed the Long Term
Incentive Plan Operating Provisions (the “Operating Provisions”); and 
  
 WHEREAS, the Employment Agreement and the
Operating Provisions must all be amended to provide favorable accounting treatment for CMI with respect to the Employee’s interests under the LTIP; and 
  
 WHEREAS, the Employee will benefit from such favorable accounting treatment. 
  
 NOW
THEREFORE, in consideration of the mutual promises and agreements set forth in the premises and below, the receipt and sufficiency of which are hereby acknowledged, the parties agree as follows: 
  

1.1  LTIP Revisions.    Employee acknowledges and accepts the provisions of the revised LTIP, a copy of which is attached to this agreement.

  
 1.2  Employment Agreement.    Section 4.5 of the Employment Agreement is modified, in
its entirety, to read as follows: 
  
 4.5  Provisions Applicable To All Purchased and Non-Purchased Shares And
Options. 
  
 A)  Minimum Holding Period.    The Employee shall hold
all Purchased Shares for at least 6 months from the date such Purchased Shares were purchased. The Employee shall hold all Non-Purchased Shares for at least six months from the date such Non-Purchased Shares were vested. The Employee shall hold all
Company Shares acquired through the exercise of Options for at least 6 months from the date such Options were exercised. 
  
 B)  Transfer of Shares and Repurchase By Company.    The Company shall have the option, pursuant to Article V of the LTIP, to repurchase all Company Shares upon Employee’s termination of
employment. The purchase price shall be the price determined pursuant to Article 5 of the LTIP as of the June 30 nearest the Employee’s termination of employment (or, if later, the June 30 nearest the date the Employee has held the

  
 Company Shares for 6 months). Company shares may not be transferred except pursuant to
Section 5.2 of the LTIP. An appropriate legend shall be placed on the Company shares identifying them as subject to its provisions of the LTIP. 
  
 C)  Discretion of Committee.    Employee acknowledges the Committee’s authority with respect to the LTIP, including the Committee’s authority to interpret the LTIP.
Employee agrees to the Committee’s determination of the Company’s value based on its Cash Flow Return on Investment (“CFROI”). 
  
 D)  Withholding.    The Company shall have the authority to deduct or withhold, or require Employee to remit to the Company, an
amount sufficient to satisfy Federal, state, and local taxes (including Employee’s FICA obligation) required by law to be withheld with respect to any exercise of Employee’s rights under this Agreement. 
  
 1.3  Operating Provisions.    Section 1.5 of the Operating Provisions is modified, in its entirety, to read as
follows: 
  
 1.5  Provisions Applicable To All Purchased and Non-Purchased Shares And Options. 

 
 A)  Minimum Holding Period.    The Employee shall hold all Purchased Shares for at
least 6 months from the date such Purchased Shares were purchased. The Employee shall hold all Non-Purchased Shares for at least 6 months from the date such Non-Purchased Shares were vested. The Employee shall hold all Company shares acquired
through the exercise of Options for at least 6 months from the date such options were exercised. 
  
 B)  Transfer of Shares and Repurchase By Company.    The Company shall have the option, pursuant to Article V of the LTIP, to repurchase all Company Shares upon Employee’s termination of
employment. The purchase price shall be the price determined pursuant to Article 5 of the LTIP as of the June 30 nearest the Employee’s termination of employment (or, if later, the June 30 nearest the date the Employee has held the Company
shares for 6 months). Company shares may not be transferred except pursuant to Section 5.2 of the LTIP. An appropriate legend shall be placed on the Company shares identifying them as subject to its provisions of the LTIP. 
  
 C)  Discretion of Committee.    Employee acknowledges the Committee’s authority with
respect to the LTIP, including the Committee’s authority to interpret the LTIP. Employee also acknowledges the Committee’s 
 

  
 determination of the Company’s value based on its Cash Flow Return on Investment
(“CFROI”). 
  
 D)  Withholding.    The Company shall have the
authority to deduct or withhold, or require Employee to remit to the Company, an amount sufficient to satisfy Federal, state, and local taxes (including Employee’s FICA obligation) required by law to be withheld with respect to any exercise of
Employee’s rights under these provisions. 
  
 A WITNESS WHEREOF the parties hereto have executed this agreement as of the
day, month and year first above written. 
  
  
 
	 S.C. JOHNSON COMMERCIAL MARKETS, INC.
 
	 
	 By:
 	 	 /s/    JOANNE
BRANDEs        
 

	  	 	 JoAnne Brandes
 
	 
	  	 	 /s/    ALEJANDRO MARTINEZ DE
HOZ        
 

	  	 	 Alejandro Martinez de Hoz
 (Employee)
 

 
 

 3Prepared by R.R. Donnelley Financial -- Employment Agmt. -Johnson

  
 Exhibit 10.30 
 LONG TERM INCENTIVE PLAN OPERATING PROVISIONS 
  
 The following sets forth additional provisions
regarding the Long Term Incentive Plan: 
  
 1.1    Participation.    Employee
will be eligible to participate in the Commercial Markets Holdco, Inc. Long Term Equity Incentive Plan (the “LTIP”) in accordance with the terms of the LTIP and these operating provisions. As provided in the LTIP, however, the awards
granted pursuant to the LTIP shall be in the sole discretion of the Board of Directors Compensation Committee which administers the LTIP. The Provisions of the LTIP (including the defined terms) are incorporated by references in these operating
provisions. 
  
 1.2    Stock Options. 
  

	 	A)
	Exercise and Vesting.    Vested Options shall be exercisable for a 7 year period from the date of grant. Options shall become vested four years
from the date of grant except to the extent vesting is accelerated by the Committee. If Employee is terminated prior to the date he becomes vested as a result of Termination For Cause (as defined below) or Resignation, Employee will forfeit all
options not yet vested. If Employee is terminated due to death, Disability or Retirement, Employee shall become fully vested in all options not yet vested. If Employee is terminated for other reasons, the committee shall determine if options are
forfeited. All Vested Options must be exercised within 90 days of Employees’ termination of employment. 
 

  

	 	B)
	Exercise.    Vested Options may be exercised by giving notice to the company of the number of shares being exercised accompanied by full
payment of the exercise price in cash or such other form of payment as the committee shall permit. 
 

  

	 	C)
	Rights As A Stockholder.    Employee will have no rights as stockholder with respect to shares subject to Options unless and until they are
exercised and Company Shares are actually issued to the Employee. 
 

  

	 	D)
	Non-Transferability of Options.    Options are not transferable except by the laws of descent and distribution on the death of the Employee.

 

  
 1.3    Provisions Applicable To All Options. 
  

	 	A)
	Minimum Holding Period.    The Employee shall hold all Company Shares acquired through the exercise of Options for at least 6 months from the
date such Options were exercised. 
 

  

	 	B)
	Transfer of Shares and Repurchase By Company.    The Company shall have the option, pursuant to Article V of the LTIP, to repurchase all
Company Shares upon Employee’s termination of employment. The purchase price shall be the 
 

	 	
transferred except pursuant to Section 5.2 of the LTIP. An appropriate legend shall be placed on the Company shares identifying them as subject to its provisions of the LTIP. 

  

	 	B)
	Discretion of Committee.    Employee acknowledges the Committee’s authority with respect to the LTIP, including the Committee’s
authority to interpret the LTIP. Employee also acknowledges the committee’s determination of the Company’s value based on its Cash Flow Return on Investment (“CFROI”). 
 

  

	 	C)
	Withholding.    The Company shall have the authority to deduct or withhold, or require Employee to remit to the Company, an amount
sufficient to satisfy Federal, state, and local taxes (including Employee’s FICA obligation) required by law to be withheld with respect to any exercise of Employee’s rights under these provisions. 
 

 
 1.4    Definition.    “Termination for Cause” means termination for any
of the following reasons: 
  

	 	(a)
	Failure to perform within the provisions of “This We Believe”. 
 

  

	 	(b)
	Willful misconduct, or willful violation of the law in the performance of duties under these provisions. 
 

  

	 	(c)
	Willful failure or refusal to follow reasonable, explicit, and lawful instructions or directions from the Chairman or President concerning the operation of CMI’s
business. 
 

  

	 	(d)
	Conviction of a felony. 
 

  

	 	(e)
	Theft or misappropriation of funds or property of CMI, or commission of any material act of dishonesty involving CMI, its employees, or business. 

  

	 	(f)
	Appropriating any corporate opportunity of CMI, unless the transaction was approved in writing by the Chairman or President following full disclosure of all pertinent
details of the transaction. 
 

  

	 	(g)
	Breach of the fiduciary duty owed to CMI as an executive of CMI. 
 

  
 Received this 06 day of December, 2001. 
  
 

	 
	 Employee Signature:
 	 	  	 	 /S/    S. CURTIS JOHNSON
 

	  	 	  	 	 Name: S. Curtis Johnson

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