Document:

First Amendment dated March 25, 2004 re: Severance Plan

 Exhibit 10(vi) 
  
 FIRST AMENDMENT 
 OF THE 
 NORTHERN TRUST CORPORATION 
 SEVERANCE PLAN 
  
 WHEREAS, the Northern Trust Corporation (the “Corporation”) maintains the Northern Trust Corporation Severance Plan (the “Plan”); and 
  
 WHEREAS, amendment of the Plan is now considered desirable; 
  
 NOW, THEREFORE, by virtue and in exercise of the amending power
reserved to the Corporation under Section 6.1 of the Plan, the Plan is hereby amended as follows: 
  

	1.	To insert the following after the term “Administrator” where that term first appears in the second sentence of Section 5.1 of the Plan: 

  
 “(including the Committee with respect to appeals of adverse benefit
determinations or denied claims under Section 5.6 and with respect to other responsibilities or duties delegated to the Committee under the Plan and/or by action of the Corporation, the Company, an Employer or the Administrator).” 

 

	2.	To add the following as new Section 5.8 of the Plan: 

  
 “5.8 Terms Include Authorized Delegates 
 Where appropriate, the term ‘Company’, ‘Corporation’, ‘Committee’, ‘Employer’ or ‘Administrator’ as used in this Plan shall also include any applicable subcommittee or any duly authorized
delegate of the Company, the Corporation, the Committee, the Employer or the Administrator, as the case may be. Such duly authorized delegate may be an individual or an organization within the Company, the Corporation, the Committee, the Employer or
the Administrator, or may be an unrelated third party individual or organization.” 
  

	3.	To add the following at the end of Section 6.1 of the Plan: 

  

	 	“(a)	Any termination shall be made by action of the Compensation and Benefits Committee of the Board of Directors of the Corporation (the “Board”) (or by action of the Board if
the Compensation and Benefits Committee is unavailable or unable to act for any reason) and shall be effective as of the date set forth in such resolution. 

	 	(b)	Any amendment shall be made in accordance with the following: 

  

	 	(i)	material amendments to the Plan (including any extraordinary amendment related to an acquisition or divestiture by the Company or the Corporation) shall be made by action of the
Compensation and Benefits Committee of the Board (or by action of the Board, if the Compensation and Benefits Committee is unavailable or unable to act for any reason); and 

  

	 	(ii)	(a) non-material or administrative amendments to the Plan (including any amendment pursuant to guidelines established by the Compensation and Benefits Committee of the Board related
to an acquisition or divestiture by the Company or the Corporation) or (b) any amendment to the Plan deemed required, authorized or desirable under applicable statutes, regulations or rulings, shall be made by action of either the Chairman and Chief
Executive Officer of the Corporation or the Executive Vice President and Human Resources Department Head of the Corporation (or either of their duly authorized designees).” 

  
 IN WITNESS WHEREOF, the Corporation has caused this amendment to be
executed on its behalf this 25th of March, 2004 effective such 25th of March, 2004. 
  

			
	 NORTHERN TRUST CORPORATION

		
	 By:
	 	 /s/ Timothy P. Moen

	 Name:
	 	 Timothy P. Moen

	 Title:
	 	 Executive Vice President

  

 - 2 -Second Amendment dated March 25, 2004 re: Deferred Compensation Plan

 Exhibit 10(vii) 
  
 SECOND AMENDMENT 
 TO THE 
 NORTHERN TRUST CORPORATION 
 DEFERRED COMPENSATION PLAN 
  
 WHEREAS, the Northern Trust Corporation (the “Company”) has adopted the Northern Trust Corporation Deferred Compensation Plan (the “Plan”) for the purpose of providing deferred compensation to a select group of
management or highly compensated employees of the Company, effective as of May 1, 1998; and 
  
 WHEREAS, pursuant to Section 7.1 of the Plan, the Company has the right to amend the Plan when, in the sole discretion of the Company, such amendment is advisable; and 
  
 WHEREAS, the Company deems it advisable to amend the Plan. 

 
 NOW, THEREFORE, the Plan is hereby amended as follows:

  

	1.	To delete the phrase “consistent with the Board resolutions establishing the Plan” from Section 4.1 of the Plan and to substitute the following therefor:

  
 “consistent with resolutions or actions of
the Board or the Compensation and Benefits Committee of the Board establishing the Plan.” 
  

	2.	To add the following after the second sentence of Section 6.1 of the Plan: 

  
 “Where appropriate, the term ‘Company’ or ‘Committee’ as used in this Plan shall also include any applicable subcommittee or any
duly authorized delegate of the Company or the Committee, as the case may be. Such duly authorized delegate may be an individual or an organization within the Company or the Committee, or may be an unrelated third party individual or
organization.” 
  

	3.	To delete the phrase “all related orders or resolutions of the Board” from Section 6.3 of the Plan and to substitute the following therefor: 

  
 “all related orders, resolutions or actions of the Board, the
Compensation and Benefits Committee of the Board, the Chairman and Chief Executive Officer of the Company or the Executive Vice President and Human Resources Department Head of the Company (or the duly authorized designee of either of the latter two
individuals).” 

	4.	To delete the second sentence of Section 7.1 of the Plan in its entirety and to substitute the following therefor: 

  

	 	“(a)	Any such termination shall be made by action of the Compensation and Benefits Committee of the Board (or by action of the Board if the Compensation and Benefits Committee is
unavailable or unable to act for any reason) and shall be effective as of the date set forth in such resolution. 

  

	 	(b)	Any such amendment shall be made in accordance with the following: 

  

	 	(i)	material amendments to the Plan shall be made by action of the Compensation and Benefits Committee of the Board (or by action of the Board, if the Compensation and Benefits
Committee is unavailable or unable to act for any reason); and 

  

	 	(ii)	(a) non-material or administrative amendments to the Plan or (b) any amendment to the Plan deemed required, authorized or desirable under applicable statutes, regulations or
rulings, shall be made by action of either the Chairman and Chief Executive Officer of the Company or the Executive Vice President and Human Resources Department Head of the Company (or either of their duly authorized designees).”

  
 IN WITNESS WHEREOF, the Corporation has
caused this amendment to be executed on its behalf this 25th of March, 2004 effective such 25th of March, 2004. 
  

			
	 NORTHERN TRUST CORPORATION

		
	 By:
	 	 /s/ Timothy P. Moen

	 Name:
	 	 Timothy P. Moen

	 Title:
	 	 Executive Vice President

  

 - 2 -Letter Agreement between CIT, Kinion and Rhodes dated as of 03/31/2004.

 Exhibit 10.8 
  
 THE CIT GROUP/BUSINESS CREDIT, INC. 
 300 South Land Avenue, 3rd Floor 
 Los Angeles, California 90071 
  
 Dated as of 
 March 31, 2004 

 
 Brenda C. Rhodes 
 Todd Kinion 
 c/o Hall, Kinion and Associates, Inc. 
 75 Rowland Way, Suite 200 
 Novato, California 94945 
  

	 	Re:	$5,000,000 Aggregate Letters of Credit 

  
 Dear Sir and Madam: 
  
 This letter agreement (the “Agreement”) sets forth the agreement among you (together, the “Account Parties”) and us (“CIT”) with respect to
the one or more irrevocable standby letters of credit in the aggregate amount of $5,000,000 (the “L/Cs”) to be provided in support of our credit facility to Hall, Kinion & Associates, Inc., Group-Ipex, Inc. and Onstaff Acquisition
Corp. (collectively, the “Companies”) to be extended by CIT thereunder pursuant to that certain Financing Agreement, dated as of June 13, 2003 (as amended, the “Financing Agreement”) 
  
 1. L/C Draws. CIT shall have the immediate and unconditional right,
but no obligation, to draw the full or any partial amount available under the L/Cs without notice to you upon: (a) the occurrence of any Event of Default under the Financing Agreement; or (b) CIT’s receipt of notice from the issuing bank that a
L/C will not be extended as provided therein; or (c) if any bankruptcy, insolvency or similar proceeding under any federal or state law is filed by or against any Company. The proceeds of all drawings against the L/Cs will be applied to the
Obligations pursuant to the terms of the Financing Agreement. 
  
 2. Partial Draws. CIT agrees that it will draw pro rata (based upon the relative amounts of the L/Cs) against the L/Cs in the event Agent draws for less than the full, aggregate amount of the L/Cs (other than drawings contemplated by
clause (b) of the preceding paragraph, in which case CIT shall have the right to draw the full amount of the L/C that will not be extended). 
  
 3. Representation and Warranties. Each Account Party represents and warrants that: (a) the Account Parties directly or indirectly own issued and
outstanding capital stock of Hall, Kinion & Associates, Inc. and (b) this Agreement, when signed by such Account Party has been duly authorized, executed and delivered by such Account Party and when so executed and delivered, constitutes a

 Brenda C. Rhodes 
 Todd Kinion 
 March 31, 2004 
 Page 2 of 3 
  

 legal, valid and binding obligation of such Account Party enforceable against such Account Party in accordance with its
terms. 
  
 4. Costs and Attorneys’ Fees. If any
action, suit or proceeding is commenced by or between any of the parties in connection with this Agreement, the prevailing party shall be entitled to recover from the other any costs, expenses or attorneys’ fees incurred in connection
therewith. 
  
 5. Successors and Assigns. This Agreement
shall be binding on, and shall inure to the benefit of, the parties and their respective successors and assigns (including, in the case of any bankruptcy or similar proceeding, any receiver, assignee for the benefit of creditors, trustee or debtor
in possession on behalf of such person), except as otherwise provided herein. This Agreement is freely assignable at any time by CIT and is not assignable by the Account Parties, provided that any such assignment by CIT is in conjunction with the
assignment in whole or in part of the Obligations in accordance with the terms of the Financing Agreement. 
  
 6. Integrated Agreement. This Agreement sets forth the entire understanding of the parties with respect to the matters set forth herein and may not
be modified or amended except in a writing signed by all parties. 
  
 7. Interpretation. The captions in this Agreement are for convenience of reference only, do not constitute a part of this Agreement and are not to be considered in construing or interpreting this Agreement. All section, preamble,
recital, exhibit, schedule, disclosure schedule, annex, clause and party references are to this Agreement unless otherwise stated. No party, nor its counsel, shall be deemed the drafter of this Agreement for purposes of construing the provisions of
this Agreement, and all provisions of this Agreement shall be construed in accordance with their fair meaning, and not strictly for or against any party. 
  
 8. Counterparts. This Agreement may be executed in two or more counterparts and by facsimile, each of which shall be deemed an original, but all of
which together shall constitute one instrument. 
  
 9.
GOVERNING LAW. IN ALL RESPECTS, INCLUDING ALL MATTERS OF CONSTRUCTION, VALIDITY AND PERFORMANCE, THIS AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED AND ENFORCED IN ACCORDANCE WITH, THE INTERNAL LAWS OF THE STATE OF CALIFORNIA APPLICABLE TO
CONTRACTS MADE AND PERFORMED IN THAT STATE (WITHOUT REGARD TO THE CHOICE OF LAW OR CONFLICT 

 Brenda C. Rhodes 
 Todd Kinion 
 March 31, 2004 
 Page 3 of 3 
  

 OF LAW PROVISIONS THEREOF) AND ANY APPLICABLE LAWS OF THE UNITED STATES OF AMERICA. 
  
 10. WAIVER OF JURY TRIAL. EACH ACCOUNT PARTY WAIVES THE RIGHT TO A
TRIAL BY JURY IN ANY ACTION UNDER THIS AGREEMENT OR ANY ACTION OR ACTIONS ARISING OUT OF THE TRANSACTIONS CONTEMPLATED HEREBY, REGARDLESS-OF WHICH PARTY INITIATES SUCH ACTION OR ACTIONS. 
  
 Please indicate your acceptance of the foregoing by signature below. 
  
 Sincerely, 
  

			
	THE CIT GROUP/BUSINESS CREDIT, INC.
		
	By:	 	 
	 	 	

	 Title: Vice President

	
	 ACCEPTED AND AGREED:

	
	 /s/ Brenda C. Rhodes

	 BRENDA C. RHODES, an individual

	
	 /s/ Todd Kinion

	 TODD KINION, an individual

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00065-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00065-of-00352.parquet"}], [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00065-of-00352.parquet"}]]