GNC 2009 Annual Report Download - page 223
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4. The Employment Agreement is hereby amended to insert a new Section 4.3(c)(viii) as follows:
"(viii) Notwithstanding any other provision herein, payments and reimbursements made to the Executive under Section 4.2(a) and Section
4.3(c)(i)-(v) hereof shall commence 60 days from the date of termination."
5. The last sentence of Section 4.3(e) of the Employment Agreement is hereby amended in its entirety as follows:
"To the extent necessary to effect the Payment Reduction, the Company shall reduce or eliminate the Payments by first reducing or
eliminating the portion of the Payments which are not payable in cash and then by reducing or eliminating cash payments, in each case in
reverse order beginning with payments or benefits which are to be paid the farthest in time from the initial determination, subject to the
confirmation of the Accounting Firm (as defined herein) with respect to the intended effect of such Payment Reduction."
6. Section 4.3(f)(iii) of the Employment Agreement is hereby amended in its entirety as follows:
"the Company effects a material reduction in the Executive's Base Salary, unless all executives at the same level as the Executive receive
a substantially similar reduction in base salary."
7. Section 4.4(a)(iii) of the Employment Agreement is hereby amended in its entirety as follows:
"either the Company or the Executive may elect not to extend or further extend the Employment Period pursuant to Section 2.2 hereof,
provided that the Executive shall be required to continue to provide services hereunder through the end of the Employment Period."
8. The following sentence is hereby added to the end of Section 4.4(b)(i):
"The Base Salary and benefits accrued through the end of termination shall be paid in accordance with the Company's general payroll
practices and procedures and the terms and conditions of any applicable plan."
9. The last sentence of Section 4.6 of the Employment Agreement is hereby amended in its entirety as follows:
"In this regard, notwithstanding anything to the contrary in this Section 4, to the extent necessary to comply with Section 409A of the
Code, any payment required under this Section 4 shall be deferred for a period of six (6) months, regardless of the circumstances giving
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