Document:

Form of Amended and Restated WD-40 Company Supplemental Retirement Benefit Plan

 Exhibit 10(a) 
 AMENDED AND RESTATED 
 WD-40 COMPANY 
 SUPPLEMENTAL RETIREMENT BENEFIT PLAN 
 This Amended and Restated WD-40 Company Supplemental Retirement Benefit Plan (the “Plan”) is a complete restatement of the WD-40 Company Supplemental Retirement Benefit Plan between WD-40 COMPANY, a Delaware corporation
(hereinafter called “Company”) and              (hereinafter called “Employee”) dated
                    , as previously amended. Employee and the Company hereby agree as follows: 
 1. Employee is considered a “key employee” as that term is defined in Section 416(i) of the Internal Revenue Code of 1986, as amended
(“IRC”). Employee is presently employed by the Company and it is contemplated that Employee will retire on or about
                    . Company or Employee may, however, terminate Employee’s employment at any time and nothing herein shall be construed
as a contract for continued employment for any specified period of time. 
 2. Upon the retirement of Employee on or after
                    , Company shall pay to Employee a supplemental retirement benefit in quarterly payments for a period of fifteen
(15) years measured from the first day of the next month of January, April, July or October following the effective date of Employee’s separation from service with the Company (the “Retirement Date”). Quarterly payments shall be
made in an amount equal to one-sixteenth (1/16) of Employee’s base salary as of the Retirement Date as such amount shall last have been determined by the Company’s Board of Directors. It is intended that this Plan comply with the
requirements of IRC Section 409A and the regulations promulgated thereunder. Therefore, no payment shall be made 

  

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to Employee earlier than the six month anniversary of the Retirement Date or otherwise earlier than may be permitted under such statute and the regulations
promulgated thereunder unless earlier payment is so permitted under the statute and regulations as they may be hereafter amended. If deferred, the first two quarterly payments shall be made on the day of the six month anniversary of the Retirement
Date. The remaining quarterly payment amounts shall be made on the first day of the following months of January, April, July or October until the supplemental retirement benefit is paid in full. All of such payments shall be subject to any
required withholding for federal or state income or payroll taxes. 
 3. Upon the death of Employee prior to receiving all of the aforesaid
payments, such payments shall continue to be paid to                     , or to such other person or persons as the Employee shall hereafter
designate in writing to Company. If no designated beneficiary survives to receive all such remaining payments, such payments shall be made to the Employee’s estate. 
 4. If the Company shall elect to purchase a life insurance contract to provide Company with funds to make payment hereunder, Company shall at all times be the sole and complete owner and beneficiary of any such
contract and shall have the unrestricted right to use all amounts and exercise all options and privileges thereunder; neither Employee nor beneficiary nor any other person shall have any right, title or interest whatsoever in or to any such life
insurance contract. 
 5. The designated beneficiary or any other person or persons having any claim or right to payment hereunder shall rely
solely on the unsecured promise of the Company set forth herein and nothing in this agreement shall be construed to give the Employee, beneficiary or any other person or persons any right, title, interest or claim in or to any specific asset, fund,
reserve, account or property of any kind whatsoever owned by the Company. The designated beneficiary or other person or persons shall have the right to enforce a claim for payments due against the Company in the same manner as an 

  

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unsecured creditor. 
 6. This Plan may be amended
at any time upon the written agreement of the parties. 
 7. Neither Employee nor any designated beneficiary nor any other person entitled to
payment hereunder shall have the right to transfer, assign, pledge or otherwise encumber any such payment hereunder nor shall any such payment be subject to seizure for the payment of any debt or judgment, or be transferable by operation of law in
the event of bankruptcy or insolvency. 
 8. In the event of any attempted transfer, assignment or other encumbrance or levy, the Company
shall have no further liability hereunder. 
 9. In the event of the death of Employee prior to retirement or separation of service with the
Company, no supplemental retirement benefit hereunder shall be payable. 
 IN WITNESS WHEREOF, the undersigned have executed this agreement
this          day of                     , 20    . 
  

					
	 Company:
	 	WD-40 COMPANY
			
		 	By	 	  
		 		 	Garry O. Ridge, President
		
		 	Attest:
		
		 	                                      
                                        
                
		 		 	Maria Mitchell, Secretary
		
	Employee:	 	                                      
                                        
                
		
		 	                                      
                                        
                

  

 3EX-10.1

Exhibit 10.1

FIRST AMENDMENT TO EMPLOYMENT AGREEMENT

THIS FIRST AMENDMENT TO EMPLOYMENT AGREEMENT (this “Amendment”), is entered into as of January
5, 2007 by and between Michael N. Regan (the “Executive”) and The St. Joe Company, a Florida
corporation (the “Company”).

WHEREAS, the Executive and the Company entered into an Employment Agreement dated as of July
27, 2006 (together with this Amendment, the “Agreement”); and

WHEREAS, at the request of the Company, the Executive has decided to extend his anticipated
retirement date from June 30, 2007 to September 30, 2007; and

WHEREAS, the Executive has recently assumed the additional duties and responsibilities of
Chief Financial Officer of the Company on an interim basis until his retirement or earlier
replacement, and Executive has not received any increase in base salary; and

WHEREAS, in order to motivate Executive in his new role and to ensure a smooth transition from
Executive to a successor Chief Financial Officer, the Company and the Executive each wish to amend
the terms of the Agreement.

NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which is
hereby acknowledged by both parties, it is agreed as follows:

1. All capitalized terms used herein and not otherwise defined shall have the meanings
assigned to them in the Agreement.

2. The definition of “Employment Period” shall be deleted in its entirety and replaced with
the following:

“Employment Period” means the period commencing on the date hereof and ending on
September 30, 2007 (the “Retirement Date”).

3. Section 3.1 of the Agreement shall be deleted in its entirety and replaced with the
following:

3.1 Positions and Duties. During the Employment Period, the Executive
shall be employed and shall serve as the Chief Financial Officer of the Company with
such duties and responsibilities as are customarily assigned to such officer;
provided, however, that in the event that a successor Chief Financial Officer
commences employment with the Company prior to the Retirement Date, then the
Executive shall be employed and shall serve in such other capacity as the Chief
Executive Officer shall designate with such duties and responsibilities as are
customarily assigned to an officer of the Company. Executive agrees that the duties
designated by the Chief Executive Officer to be performed by Executive pursuant to
the foregoing sentence shall not be considered a significant diminution in the
Executive’s position, authority, comparable duties or responsibilities for purposes
of the definition of “Good Reason.”

4. Section 4 of the Agreement shall be amended by deleting the introductory paragraph and
Sections 4.1, 4.2 and 4.3 in their entirety and replacing them with the following:

The Executive’s compensation during the Employment Period shall be determined as
follows:

4.1 Base Salary. During the Employment Period, the Executive shall receive
an annual base salary (“Base Salary”) of $285,000. The Base Salary shall be payable
in accordance with the Company’s regular payroll practices for its senior
executives, as in effect from time to time.

4.2 Annual Bonus. For the 2006 Fiscal Period, the Executive shall be
designated as a participant in the Company’s Annual Incentive Plan or any similar
bonus plan for senior executives (the “Bonus Plan”), which provides for bonus
payments to the Executive, and subject to meeting the criteria of the Bonus Plan
established by the Board in its discretion, shall receive the bonus award provided
for therein, if any (the “Annual Bonus”). For the 2007 Fiscal Period, the
Executive’s Annual Bonus shall be equal to one-half of the Executive’s targeted
Annual Bonus, or $71,250. The Annual Bonus for the 2006 Fiscal Period, if any,
shall be paid not later than March 15, 2007, and the Annual Bonus for the 2007
Fiscal Period shall be paid on the Retirement Date.

4.3 Incentive, Retirement, and Savings Plans. During the Employment Period,
the Executive shall participate in all pension, retirement, supplemental retirement,
and savings plans, as well as all other employee benefit plans and programs, which
are made available from time to time by the Company for the benefit of similarly
situated senior executives of the Company. Notwithstanding the foregoing, the
Executive shall not participate in any stock option, restricted stock and other
stock grant and equity compensation plans.

5. Section 4 of the Agreement shall be amended by adding the following new Section 4.8:

“4.8 Stay Bonus. If Executive remains an employee of the Company through the
Retirement Date, the Company shall pay to the Executive, in a lump sum within 30 days of the
Retirement Date, a cash bonus equal to $800,000.

6. In the event of the termination of Executive’s employment with the Company on the
Retirement Date:

(a) Sections 6.4 and 6.5 of the Agreement shall not apply; and

	 	(b)	 	The Company shall not accelerate the vesting of any of
Executive’s shares of restricted stock or stock options that are unvested as of
the retirement date.

7. Except as modified hereby, the Agreement shall remain in full force and effect.

	 	 	 
	EXECUTIVE

	 	THE ST. JOE COMPANY
	 
	 	 
	/s/ Michael N. Regan

	 	By: /s/ Peter S. Rummell
	 

	 	 
	Michael N. Regan

	 	Peter S. Rummell

Chairman and Chief Executive

Officer

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