1
Exhibit 10(g)(1)
AMENDMENT TO TECNOL, INC.
EMPLOYEE STOCK OWNERSHIP PLAN
This Amendment, is made and entered into this 25th day of November,
1996, by and between TECNOL MEDICAL PRODUCTS, INC., a Delaware corporation
which was formerly known as Tecnol, Inc., a Texas corporation, TECNOL, INC., a
Delaware corporation, for itself and as successor through merger of TECNOL
ORTHOPEDIC PRODUCTS, INC., a Delaware corporation (herein Tecnol Medical
Products, Inc. and Tecnol, Inc. are jointly referred to as the "Employer") and
the Trustees of such plan set forth below (herein referred to as the
"Trustee").
W I T N E S S E T H:
WHEREAS, the Employer's predecessor in interest has heretofore adopted
an Employee Stock Ownership Plan dated October 11, 1988 which it has amended
from time to time; and
WHEREAS, the Employer and Trustee, pursuant to the authority granted
in Section 9.1 of the Plan, desire to amend the above plan to provide for a
vesting year using participant anniversary dates and to remove certain
diversification provisions from the Plan;
NOW, THEREFORE, effective December 1, 1995, the Employer and the
Trustee in accordance with the provisions of the Plan hereby modify and amend
such Plan as follows:
(1) Section 1.58 of the Tecnol Medical Products, Inc. Employee
Stock Ownership Plan shall be amended to read in its entirety as follows:
"1.58 'Year of Service' means twelve (12) consecutive
Months of Service.
For vesting purposes, the computation shall be measured from
the date on which an Employee first performs an Hour of Service and
anniversaries thereof.
For all other purposes, the computation period shall be the
Plan Year.
Years of service with Anago, Inc., Poly Med Industrial, Inc.,
Tecnol Orthopedic Products, Inc., Tecnol International, Inc., Tecnol
Medical Products, Inc., Tecnol, Inc. and any Affiliated Employer shall
be recognized."
(2) Section 1.33 of the Tecnol Medical Products, Inc. Employee
Stock Ownership Plan shall be amended to read in its entirety as follows:
"1.33 'Month of Service' means a calendar month during any
part of which an Employee completed an Hour of Service."
-1-
2
(3) Section 4.6 of the Tecnol Medical Products, Inc. Employee
Stock Ownership Plan shall be amended by deleting paragraphs (a) through (c)
thereof and renumbering (d) through (f) as (a) through (c) with any reference
in the Plan to Section 4.6, paragraphs (d), (e) or (f) being instead (a), (b)
or (c) respectively.
IN WITNESS WHEREOF, this Amendment has been executed the day and year
first above written.
ATTEST: TECNOL MEDICAL PRODUCTS,
INC.
s/s Xxxxx Xxxxxxxx
----------------------------
Secretary By: s/s Xxx Xxxxxxx
------------------------------------
Xxx Xxxxxxx, President
ATTEST: TECNOL, INC.
s/s Xxxxx Xxxxxxxx By: s/s Xxx Xxxxxxx
---------------------------- ------------------------------------
Secretary Xxx Xxxxxxx, President
s/s Xxxxx Xxxxxxxx
---------------------------------------
Xxxxx Xxxxxxxx, Trustee
s/s Xxx Xxxxxxx
---------------------------------------
Xxx Xxxxxxx, Trustee
s/s Xxxx Xxxxxxx
---------------------------------------
Xxxx Xxxxxxx, Trustee
-2-
