GNC 2009 Annual Report Download - page 217
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Exhibit 10.18.2
AMENDMENT NO. 1
TO
EMPLOYMENT AGREEMENT
AMENDMENT ("Amendment") made as of this 3rd day of March, 2009 to the Employment Agreement dated as of April 21, 2008 (the
"Employment Agreement"), by and between General Nutrition Centers, Inc., a Delaware corporation (the "Company"), which is an indirect
wholly owned subsidiary of GNC Acquisition Holdings, Inc., a Delaware corporation, and Thomas Dowd (the "Executive").
WHEREAS, the Company and the Executive have previously entered into the Employment Agreement; and
WHEREAS, the Company and the Executive desire to amend the Employment Agreement in a manner intended to comply with
Section 409A of the Internal Revenue Code of 1986, as amended.
NOW, THEREFORE, effective as of January 1, 2009, the Employment Agreement is hereby amended as follows:
1. The third sentence of Section 3.2 of the Employment Agreement is hereby amended in its entirety as follows:
"Any Annual Bonus earned shall be payable in full no later than March 15 of the year following the year the bonus is earned."
2. The last sentence of Section 4.2(a) of the Employment Agreement is hereby amended in its entirety as follows:
"The Base Salary shall be paid in accordance with the Company's general payroll practices and procedures and any bonus shall be paid
no later than March 15 of the year following the year the bonus is earned, and in accordance with the Company's general payroll practices
and procedures."
3. The last sentence of Section 4.3(c)(iv) of the Employment Agreement is hereby amended in its entirety as follows:
"The bonus shall be payable no later than March 15 of the year following the year the bonus is earned, and in accordance with the
Company's general payroll practices and procedures."