Document:

EXHIBIT (10.18)(ii)

 

AMENDMENT NO. 1 TO

ECOLAB INC.

CHANGE IN CONTROL SEVERANCE COMPENSATION POLICY

(as Amended and Restated Effective as of February 26, 2010)

 

WHEREAS, Ecolab Inc. (the “Company”) adopted an amended and restated Change in Control Severance Compensation Policy (the “Policy”) effective as of February 26, 2010; and

 

WHEREAS, the Company wishes to adopt a change to the Policy to provide for the exclusion of newly-elected officers that are also covered by a similar plan from participating and the coverage of such officers under the Policy upon the termination or expiration of such similar plan;

 

NOW THEREFORE, pursuant to the amending power reserved to the Company’s Board of Directors by Section 8.2 of the Policy, the Board of Directors adopted this Amendment No. 1 to the Policy on the 27th day of October, 2011.

 

Section 1

 

Section 3.1 is amended and restated to insert the following definition as a new subsection (j) and to adjust the current subsections (j) through (t) to accommodate the addition of such new subsection (j):

 

(j)                                     “Existing Agreement” means an employment, severance, change in control or other similar agreement not governed by this Policy (other than a stock option or restricted stock agreement or other form of participation document entered into pursuant to an Employer-sponsored plan which may incidentally refer to accelerated vesting or accelerated payment upon a change in control (as defined in such separate plan or document)) with the Company or a Subsidiary which becomes operative upon the occurrence of a change in control of the Company or such Subsidiary (as defined in such agreement) and which agreement is still in effect.  An Existing Agreement shall include any such agreement entered into prior to an entity becoming a Subsidiary and pursuant to which a change in control of the Subsidiary has already occurred.

 

Section 2

 

The definition of “Participant” under Section 3.1(o) is amended and restated in its entirety to the following:

 

(o)                                 “Participant” means an Executive who meets the eligibility requirements of Article IV hereof.

 

 

Section 3

 

Section 4.1 is amended and restated to read as follows:

 

Section 4.1                                      Participation.  Each person who is an Executive on the Effective Date shall be a Participant on the Effective Date.  Thereafter, each other person who becomes an Executive prior to both (a) a Change in Control and (b), unless specifically provided for by the Board at the time a Participant is elected as an Executive, the date a notice of termination of the Policy is provided under Section 8.1(a), shall automatically become a Participant on the day on which such person becomes an Executive.  Notwithstanding the foregoing, however, no Executive shall be a Participant if such person is a party to an Existing Agreement.  If an Executive is not eligible to become a Participant on the date such person would otherwise be so entitled solely because the person has entered into and is subject to an Existing Agreement, such person shall automatically become a Participant upon the termination or expiration of such Existing Agreement.

 

[Signature page follows.]

 

2

 

IN WITNESS WHEREOF, Ecolab Inc. has executed this Amendment No. 1 this 5th day of January, 2012.

 

	
 
    	
ECOLAB   INC.
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/Steven   L. Fritze
    
	
 
    	
 
    	
 
    
	
 
    	
Name:   
    	
Steven   L. Fritze
    
	
 
    	
 
    	
 
    
	
 
    	
Title:
    	
Chief   Financial Officer
    

 

 

Attest:

 

 

	
/s/James   J. Seifert
    	
 
    
	
 
    	
 
    
	
Name:   
    	
James   J. Seifert
    	
 
    
	
 
    	
 
    	
 
    
	
Title:   
    	
General   Counsel and Secretary
    	
 
    

 

3EXHIBIT (10.27)(ii)

 

DESCRIPTION OF AMENDMENT EFFECTIVE AS OF FEBRUARY 22, 2012

TO NON PLAN INDUCEMENT AWARD RESTRICTED STOCK AWARD AGREEMENT

 

Pursuant to action by the Compensation Committee of the Board of Directors of Ecolab Inc. effective as of February 22, 2012, the Non Plan Inducement Award Restricted Stock Award Agreement effective as of March 7, 2008 (the “Agreement”) between Nalco Holding Company, a Delaware corporation, and J. Erik Fyrwald (“Fyrwald”) was amended with respect to Exhibit A to the Agreement by accelerating the vesting date for the remaining 50% of the restricted shares subject to the Agreement (amounting to 67,959 shares of Ecolab Inc. Common Stock) from March 6, 2012 to February 22, 2012.EXHIBIT (10.28)(ii)

 

FIRST AMENDMENT

TO

SEVERANCE AGREEMENT

 

THIS FIRST AMENDMENT TO SEVERANCE AGREEMENT (the “Amendment”) is entered into by and between Ecolab Inc., a Delaware corporation (the “Company”) on behalf of its subsidiary Nalco Company, and J. Erik Fyrwald (“Executive”), effective as of February 24, 2012.  Capitalized terms not defined in the Amendment shall have the meanings ascribed to such terms in the Agreement.

 

RECITALS

 

WHEREAS, Executive and Nalco Company (“Nalco”) entered into a Severance Agreement, dated January 1, 2011 (the “Agreement”); and

 

WHEREAS, pursuant to that certain Agreement and Plan of Merger, dated as of July 19, 2011, Nalco Holding Company merged with and into Sustainability Partners Corporation a wholly-owned subsidiary of the Company, as of December 1, 2011, pursuant to which Sustainability Partners Corporation survived the merger and was renamed Nalco Holding Company; and

 

WHEREAS, Nalco is a wholly-owned subsidiary of Nalco Holding Company; and

 

WHEREAS, Executive and the Company desire to amend the Agreement to acknowledge the occurrence, and revise the definition, of Good Reason and make certain other changes;

 

NOW, THEREFORE, in consideration of Executive’s performance, the mutual covenants contained herein and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree, effective as of the date first above written, to amend the Agreement in the following particulars:

 

1.                                      By deleting the second and third sentences of the definition of “Good Reason” under Section 1 of the Agreement and replacing them with the following:

 

“For purposes of this Agreement, the Executive must notify the Company within twenty-four (24) months of a claimed Good Reason Event that Executive is terminating his employment.  For the avoidance of doubt, the Company acknowledges and agrees that Executive incurred a material diminution in Executive’s responsibilities constituting a “Good Reason Event” as a result of changes in the circumstances of his employment occurring on the date of merger, December 1, 2011, which is not susceptible to cure, and may voluntarily

 

 

terminate his employment at any time through November 30, 2013 in accordance with Section 3 herein.”

 

2.                                      By deleting Section 2 of the Agreement and replacing it with the following:

 

“2.  Term of Agreement and Termination of All Other Severance Benefits. This Agreement shall be in effect from January 1, 2011 until November 30, 2013 (the “Term”).  Notwithstanding the foregoing but subject to Section 3 (and those portions of Section 1 as apply to Section 3) herein, Executive’s employment at all times shall be deemed to be an employment at-will and Executive’s employment may be terminated by Executive or the Company for any reason or no reason. While in force, this Agreement shall represent the only severance benefit for Executive (it being acknowledged and understood that Executive’s Change in Control Agreement dated January 1, 2011 between Nalco Holding Company and him provides for benefits other than severance and is not affected by this Agreement as amended). All other severance agreements for Executive, including without limitation the Severance Agreement dated February 28, 2008, are hereby terminated, and Executive shall have no claim under any severance policy.”

 

3.                                      By adding the following immediately at the end of Section 6(g) of the Agreement:

 

“With a copy to:

Ecolab Inc.

370 Wabasha Street North

St. Paul, Minnesota 55102

Attention: James J. Seifert, Executive Vice President, General Counsel and Secretary

Fax No. : (651) 293-2471”

 

4.                                      Except as modified herein the Agreement shall remain in full force and effect.

 

This Amendment may be executed in counterparts, each of which shall be deemed an original for all purposes, and together shall constitute one and the same Amendment.

 

 

IN WITNESS WHEREOF, the parties hereto have executed this Amendment on this 24th day of February, 2012, to be effective as of the date first above written.

 

	
 
    	
 
    	
Ecolab   Inc.
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
By:
    	
/s/Michael   L. Meyer
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
Name:
    	
Michael   L. Meyer
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
Title:
    	
Executive   V.P. Human Resources
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
J.   Erik Fyrwald
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
/s/J.   Erik FyrwaldEXHIBIT (10.29)(ii)

 

FIRST AMENDMENT

TO

CHANGE OF CONTROL AGREEMENT

 

THIS FIRST AMENDMENT TO CHANGE OF CONTROL AGREEMENT (the “Amendment”) is entered into by and between Ecolab Inc., a Delaware corporation (the “Company”) on behalf of its subsidiary Nalco Holding Company, and J. Erik Fyrwald (“Executive”), effective as of February 24, 2012.  Capitalized terms not defined in the Amendment shall have the meanings ascribed to such terms in the Agreement.

 

RECITALS

 

WHEREAS, Executive and Nalco Holding Company (“Nalco”) entered into a Change of Control Agreement, dated January 1, 2011 (the “Agreement”); and

 

WHEREAS, pursuant to that certain Agreement and Plan of Merger, dated as of July 19, 2011, Nalco merged with and into Sustainability Partners Corporation a wholly-owned subsidiary of the Company, as of December 1, 2011, pursuant to which Sustainability Partners Corporation survived the merger and was renamed Nalco Holding Company; and

 

WHEREAS, Executive and the Company desire to amend the Agreement to acknowledge the occurrence, and revise the definition, of Good Reason and make certain other changes;

 

NOW, THEREFORE, in consideration of Executive’s performance, the mutual covenants contained herein and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree, effective as of the date first above written, to amend the Agreement in the following particulars:

 

1.                                      By deleting the second and third sentences of the definition of “Good Reason” under Section 1 of the Agreement and replacing them with the following:

 

“For purposes of this Agreement, the Executive must notify the Company within twenty-four (24) months of a claimed Good Reason Event that Executive is terminating his employment.  For the avoidance of doubt, the Company acknowledges and agrees that Executive incurred a material diminution in Executive’s responsibilities constituting a “Good Reason Event” as a result of changes in the circumstances of his employment occurring on the date of merger, December 1, 2011, which is not susceptible to cure, and may voluntarily terminate his employment at any time through November 30, 2013 in accordance with Section 3 herein.”

 

 

2.                                      By deleting Section 2 of the Agreement and replacing it with the following:

 

“2. Term of Agreement. This Agreement shall be in effect from January 1, 2011 until November 30, 2013 (the “Term”).  Notwithstanding the foregoing but subject to Section 3 (and those portions of Section 1 as apply to Section 3), Executive’s employment at all times shall be deemed to be an employment at-will and Executive’s employment may be terminated by Executive or the Company for any reason or no reason. While in force, this Agreement shall represent the only change of control benefit for Executive (it being acknowledged and understood that Executive’s Severance Agreement dated January 1, 2011 between Nalco Company and him provides for benefits other than change in control benefits and is not affected by this Agreement as amended). All other change of control agreements for Executive, including without limitation the Change of Control Agreement dated November 26, 2008, are hereby terminated, and Executive shall have no claim under any change in control policy.”

 

3.                                      By adding the following immediately at the end of Section 5(g) of the Agreement:

 

“With a copy to:

Ecolab Inc.

370 Wabasha Street North

St. Paul, Minnesota 55102

Attention: James J. Seifert, Executive Vice President, General Counsel and Secretary

Fax No. : (651) 293-2471”

 

4.                                      Except as modified herein the Agreement shall remain in full force and effect.

 

This Amendment may be executed in counterparts, each of which shall be deemed an original for all purposes, and together shall constitute one and the same Amendment.

 

 

IN WITNESS WHEREOF, the parties hereto have executed this Amendment on this 24th day of February, 2012, to be effective as of the date first above written.

 

	
 
    	
 
    	
Ecolab   Inc.
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
By:
    	
/s/Michael   L. Meyer
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
Name:
    	
Michael   L. Meyer
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
Title:
    	
Executive   V.P. Human Resources
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
J.   Erik Fyrwald
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
/s/J.   Erik Fyrwald

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