Common use of Section 4(b) Clause in Contracts

Section 4(b). The second sentence of Section 4(b) of the Employment Agreement is hereby deleted and replaced in its entirety with the following: “It is expected that the target date-of-grant value of the Employee’s annual long-term incentive awards will be 200% of his Base Salary (“Target LTIP”) granted in the following allocations: 40% of the award as a time-vesting award, vesting ratably over three years (one-third per year from the date of grant), and 60% of the award as a performance-vesting award, vesting over a three-year performance period.”