Document:

Unassociated Document

     

    Exhibit
      10.1

     

    H.B.
      FULLER COMPANY

    SUPPLEMENTAL
      EXECUTIVE RETIREMENT PLAN

    1998
      REVISION

     

    Second
      Declaration of Amendment

     

    Pursuant
      to Section 7.10 of the H.B. Fuller Company Supplemental Executive Retirement
      Plan--1998 Revision, the Company hereby amends Subsection A. of Section 7.1
      of
      the Plan to read as follows:

     

    “A. The
      terms
‘Final Average Compensation’ and ‘Credited Service’ shall have the meanings
      given them in the H.B. Fuller Company Retirement Plan at the time a
      Participant’s eligibility for benefits under this Plan or the amount of such
      benefits is being determined; provided, however, that:

     

    (1)  Final
      Average Compensation shall be determined without regard to any limitation on
      the
      maximum dollar amount of compensation taken into account under the pension
      plan
      pursuant to Internal Revenue Code § 401(a)(17) or any similar provision of
      law.

     

    (2)  Final
      Average Compensation shall be determined by including amounts that would have
      been treated as compensation under the pension plan, but for the fact that
      the
      Participant elected to defer payment of such amounts pursuant to the H.B. Fuller
      Key Company Employee Deferred Compensation Plan. Deferred compensation shall
      only be treated as compensation when it would have been received by a
      Participant had it not been deferred. Payments to a Participant from the H.B.
      Fuller Company Employee Deferred Compensation Plan will not be included in
      determining the Participant’s Final Average Compensation.

     

    (3)  Service
      with the Company or an Affiliated Organization shall be taken into account
      as
      Credited Service notwithstanding an otherwise applicable limitation based on
      the
      Participant’s nationality or place of residence.”

     

    This
      Amendment shall be effective as of the initial effective date of the H.B. Fuller
      Company Employee Deferred Compensation Plan.

     

    IN
      WITNESS WHEREOF, the Company has caused this instrument to be executed by its
      duly authorized officers this 20th day of July, 1999.

     

     

    H.B.
      FULLER COMPANY

     

    /s/
      Albert P.L.
      Stroucken                     

    Chief
      Executive OfficerUnassociated Document

    Exhibit
      10.2

     

    H.B.
      FULLER COMPANY

    SUPPLEMENTAL
      EXECUTIVE RETIREMENT PLAN

    1998
      REVISION

     

    Third
      Declaration of Amendment

     

    Pursuant
      to Section 7.10 of the H.B. Fuller Company Supplemental Executive Retirement
      Plan--1998 Revision, the Company hereby amends Section 3.6 of the Plan to read
      as follows:

     

    “3.6 Death
      Benefit.
      

     

    A. If
      a
      Participant dies after attaining age 55 and completing at least five years
      of
      Credited Service, but prior to terminating his or her employment, the spouse
      (if
      any) to whom the Participant was married throughout the one-year period ending
      on the date of the Participant’s death shall be eligible to receive a monthly
      payment for such spouse’s life. Such monthly payment shall commence on the first
      day of the month following the date of the Participant’s death, and shall be in
      an amount equal to 50% of the actuarially reduced monthly benefit that would
      have been payable to the Participant had the Participant retired with an
      immediate joint and 50% survivor annuity benefit on the day preceding the date
      of the Participant’s death; provided, that if the Participant had completed
      fewer than 10 years of Credited Service at the time of his or her death, the
      service reduction under Section 3.2 shall be calculated as though the
      Participant had completed 10 years of Credited Service. 

     

    B. If
      a
      Participant dies after completing at least five years of Credited Service,
      but
      prior to attaining age 55 and prior to terminating his or her employment, the
      spouse (if any) to whom the Participant was married throughout the one-year
      period ending on the date of the Participant’s death shall be eligible to
      receive a monthly payment for such spouse’s life. Such monthly payment shall
      commence on the first day of the month following the date on which the
      Participant would have attained age 55, and shall be in an amount equal to
      50%
      of the actuarially reduced monthly benefit that would have been payable to
      the
      Participant had the Participant survived until attaining age 55 (but without
      completing any additional years of Credited Service), retired with an immediate
      joint and 50% survivor annuity benefit, and died the following day; provided,
      that if the Participant had completed fewer than 10 years of Credited Service
      at
      the time of his or her death, the service reduction under Section 3.2 shall
      be
      calculated as though the Participant had completed 10 years of Credited Service.
      

     

    C. No
      benefit shall be payable under Subsections A or B with respect to a Participant
      who is not survived by a spouse to whom the Participant was married throughout
      the one-year period ending on the date of the Participant’s death, with respect
      to a Participant who had not completed at least five years of Credited Service,
      or to a spouse who dies prior to the date on which his or her monthly payment
      is
      scheduled to commence.

     

    D. Notwithstanding
      the foregoing, if a “Pre-2003 Participant” dies after attaining age 55 and
      completing at least 10 years of Credited Service, but prior to terminating
      his
      or her employment, there shall be paid to such Participant’s designated
      beneficiary the sum of $50,000 per year for 10 years. This benefit shall be
      paid
      in lieu of, and not in addition to, the benefit described in Subsection A;
      provided, that if the Participant’s designated beneficiary is the spouse (if
      any) to whom the Participant was married throughout the one-year period ending
      on the date of the Participant’s death, such spouse will receive whichever of
      the benefit described in Subsection A or the benefit described in this
      Subsection D has the greater actuarially equivalent value at the time of the
      Participant’s death. For the purposes of this Subsection D and Subsection E
      below, a “Pre-2003 Participant” is an Eligible Employee who first became a
      Participant in the Plan before January 1, 2003, and who was an Eligible Employee
      and a Participant in the Plan throughout the period commencing on January 1,
      2003 and ending on the date of his or her death. 

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    E. A
      Pre-2003 Participant may, in form prescribed by and filed with the
      Administrator, designate a beneficiary to receive the $50,000 per year death
      benefit payable under Subsection D. If no effective beneficiary designation
      is
      on file at the time of the Participant’s death, such death benefit shall be paid
      as follows:

     

    (1) To
      the
      Participant’s surviving spouse, or

     

    (2) If
      no
      spouse survives, to the Participant’s surviving children in equal shares, with
      the descendants of a child who has predeceased the Participant taking such
      child’s share by representation; or

     

    (3) If
      none
      of the Participant’s spouse and descendants is living, to the representative of
      the Participant’s estate.

     

    The
      automatic beneficiaries set forth in this Subsection E and, except as otherwise
      provided in the Participant’s duly filed beneficiary designation, the
      beneficiaries named in such designation, shall become fixed at the Participant’s
      death so that if a beneficiary survives the Participant but dies before final
      payment of the death benefit, any remaining death benefits shall be paid to
      the
      representative of such beneficiary’s estate.

     

    F. No
      benefit, other than the survivor’s annuity payable to the surviving spouse of a
      Participant whose benefit commenced in the form of a joint and survivor annuity,
      shall be payable following the death of a Participant whose employment
      terminated prior to death.”

     

    This
      Declaration of Amendment shall be effective as of January 1, 2003.

     

    *
      * * *
      *

     

    
      
         

      

      
        -2-

        
          

        

      

      
         

      

    

     

    IN
      WITNESS WHEREOF, the Company has caused this instrument to be executed by its
      duly authorized officers this 4th day of November, 2002.

     

     

    H.B.
      FULLER COMPANY

     

     

    /s/
      Albert P.L.
      Stroucken                                            

    President
      and Chief Executive Officer

     

    Attest:

     

     

    /s/
      Patricia
      Jones                                                

     

    As
      its:
Corporate
      Secretary                            
 

     

    
      
         

      

      
        -3-Unassociated Document

    Exhibit
      10.3

     

    H.B.
      FULLER COMPANY

    SUPPLEMENTAL
      EXECUTIVE RETIREMENT PLAN

    1998
      REVISION

     

    Fourth
      Declaration of Amendment

     

    Pursuant
      to Section 7.10 of the H.B. Fuller Company Supplemental Executive Retirement
      Plan--1998 Revision, the Company hereby amends the Plan as follows:

     

    1.  Subsection
      A of Section 8.1 is amended in its entirety, to read as follows:

     

    “A. A
      number
      of years shall be added to the age, and a number of years shall be added to
      the
      Credited Service, of a CIC Participant for the purposes of Section 2.2
      (‘Entitlement to Benefits’), Section 3.2 (‘Service Reduction’), and Section
      3.7.B (‘Time of Payment’). The number of years to be added shall be the lesser
      of five or the number of years specified in any separate written agreement
      between the CIC Participant and the Company that is in effect on the date the
      Change in Control occurs. If no such agreement is in effect, then the number
      of
      years to be added shall be:

     

    (1) three
      years, if the CIC Participant is the Chief Executive Officer of the Company,
      or
      is classified as a key manager direct report to the Chief Executive Officer
      of
      the Company, when the Change in Control occurs; 

     

    (2) two
      years, if the CIC Participant is not the Chief Executive Officer of the Company,
      or classified as a key manager direct report to the Chief Executive Officer
      of
      the Company, but is in pay grade 32 or above, when the Change in Control occurs;
      

     

    (3) one
      year,
      if the CIC Participant is not the Chief Executive Officer of the Company, or
      classified as a key manager direct report to the Chief Executive Officer of
      the
      Company, but is in pay grade 30 or 31, when the Change in Control occurs;
      or

     

    (4) no
      years,
      if the CIC Participant is not the Chief Executive Officer of the Company, or
      classified as a key manager direct report to the Chief Executive Officer of
      the
      Company, and is in a pay grade below pay grade 30 when the Change in Control
      occurs.”

     

    2.  Subsection
      B of Section 8.1 is deleted and not replaced.

     

    3.  Subsection
      D of Section 8.2 is amended in its entirety, to read as follows:

     

    “D. ‘CIC
      Participant’ means a Participant whose employment is terminated upon or within
      two years after the occurrence of a Change in Control, if such termination
      is
      initiated:

     

    (1) by
      the
      Company or an Affiliated Organization without Cause; or

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    (2) by
      the
      Participant for Good Reason.”

     

    4.  Subsection
      F of Section 8.2 is amended in its entirety, to read as follows:

     

    “F. ‘Good
      Reason’ means:

     

    (1) a
      material change in the Participant’s pay consisting of a 10% or more reduction
      in total cash compensation opportunity as in effect immediately prior to the
      Change in Control (unless such reduction is part of an across-the-board
      uniformly applied reduction affecting all similarly situated Participants);
      or

     

    (2) a
      significant diminution in the Participant’s authority and duties as in effect
      immediately prior to the Change of Control (excluding an isolated, insubstantial
      or inadvertent action not taken in bad faith that is remedied promptly by the
      Company after receiving notice); provided, however, that a change of the
      individual or officer to whom the Participant reports, in and of itself, would
      not constitute diminution; or

     

    (3) any
      change in a Participant’s principal work location, if the new principal work
      location is 50 or more miles from the previous work location;

     

    provided,
      that a
      Participant shall not be deemed to have terminated employment for Good Reason
      unless the termination
      occurs within 180 days after the Participant is notified by the Company of
      the
      event constituting Good Reason or, if later, within 180 days after the
occurrence
      of such event.”

     

    5.  This
      Amendment shall be effective as of the date on which this instrument is
      executed.

     

    *
      * * *
      *

     

    IN
      WITNESS WHEREOF, the Company has caused this instrument to be executed by its
      duly authorized officers this 30th day of November, 2006.

     

     

    H.B.
      FULLER COMPANY

     

    /s/
      Albert P.L.
      Stroucken                                               

    President
      and Chief Executive Officer

     

    ATTEST:

     

    By
      /s/
      Timothy J.
      Keenan                                           

    As
      its
Secretary                                                            
      

     

    
      
        
        

      

      
        -2-

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00114-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00114-of-00352.parquet"}], [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00114-of-00352.parquet"}]]