GNC 2009 Annual Report Download - page 212
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3. Section 4.2(b)(ii) of the Employment Agreement is hereby amended in its entirety as follows:
"(ii) Centers shall pay to the Executive, or to the Executive's guardian or personal representative, as the case may be, a lump sum
payment equal to the sum of (x) the Executive's current Base Salary and (y) the annualized value of the Perquisites as determined in
good faith by the Accounting Firm (as defined in Section 4.3(f)(ii)) using customary valuation methods, payable on the 30th day following
the date of termination."
4. The parenthetical at the end of Section 4.2(b)(iii) of the Employment Agreement is hereby amended in its entirety as follows:
"(any such bonus shall be payable no later than March 15 of the year following the year the bonus is earned, and in accordance with
Centers' normal payroll practices and procedures)"
5. Section 4.3(c) of the Employment Agreement is hereby amended in its entirety as follows:
"Following the Initial Employment Period, GNC may decline to renew this Agreement for an additional Extension Period, in accordance
with Section 2.2 hereof, for reasons other than those that would otherwise constitute Cause, provided that the Executive shall be required
to continue to provide services hereunder through the end of the Employment Period."
6. Section 4.3(d)(i) of the Employment Agreement is hereby amended in its entirety as follows:
"(i) Centers shall pay the Executive the Accrued Obligations in accordance with Section 4.2(b)(i)."
7. The last sentence of Section 4.3(d)(ii) is hereby amended in its entirety as follows:
"All payments pursuant to Sections 4.3(d)(i) and (ii) shall be made on the 30th day following the date of termination."
8. The second to last sentence of Section 4.3(d)(iii) of the Employment Agreement is hereby amended in its entirety as follows.
"All payments pursuant to Sections 4.3(d)(iii) shall be made on the 30th day following the date of termination."
9. The second to last sentence of Section 4.3(f)(i) of the Employment Agreement is hereby amended in its entirety as follows.
"To the extent necessary to effect the Payment Reduction, Centers shall reduce or eliminate the Payments by first reducing or
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