Saks Fifth Avenue 2008 Annual Report Download - page 247

5. Section 4(a)(ii)(E) is hereby deleted and replaced in its entirety with the following:
“(E) reimbursement of the Executive for the amount expended by the Executive for the cost of medical insurance coverage
under COBRA for the Executive and the Executive’s dependents from the Employment Termination Date until the end of the
third month following the month in which the Executive reaches the age of 65.”
6. Section 12(b)(iv) is hereby amended to delete “12 months” and to replace it with “24 months.”
The parties agree that the Executive’s termination of employment with the Company on the Date of Termination, as
contemplated by this Amendment, shall be deemed a termination “without Cause” pursuant to Section 4(a) of the Agreement.
Notwithstanding the foregoing, and for purpose of clarification, the parties hereto agree and confirm that nothing contained herein
shall affect the Executive’s right to receive any benefits to which such Executive would be entitled pursuant to Section 4(b) of the
Agreement.
The Executive hereby waives any notice requirement provided for under the Agreement and agrees that the Company’s failure
to comply with any such requirements with respect to this Amendment will not affect the validity thereof.
Except as expressly modified herein, all other terms of the Agreement shall remain in full force and effect.
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