THIRD AMENDMENT TO THE
NONQUALIFIED SAVINGS PLAN
THIS THIRD AMENDMENT to the Interface, Inc.
Nonqualified Savings Plan
(the "Plan") is made on this 8th day of May, 2003, by the Administrative
WHEREAS, Interface, Inc.
maintains the Plan for the benefit of its
WHEREAS, Section 9.1 of the Plan provides that the Administrative
Committee has the authority to amend the Plan at any time; and
WHEREAS, the Administrative Committee desires to amend the Plan to: (i)
shorten the period for providing prior notice to defer a scheduled payment of
funds; and (ii) reduce the penalty for early withdrawal of funds.
NOW, THEREFORE, the Plan is hereby amended, as follows:
1. Effective June 30, 2003, Section 5.1(b)(iii) is amended in its
entirety to read as follows:
(iii) Modifications of Benefit Commencement Date. With
respect to any initially scheduled benefit commencement date (as
determined in accordance with subsections (b)(i) or (b)(ii) hereof), a
Participant who has not yet reached such initially scheduled benefit
commencement date may elect, at least 90 days before such date, to
delay the payment (or commencement) of his Annual Account Balance
payable on such date to a later date, or may elect at least 1 year
before such date to accelerate an initially scheduled benefit
commencement date to an earlier date, provided, any election to
accelerate the payment will be effective only if the rescheduled
benefit commencement date is no earlier than the first day of the
second Plan Year that begins after the date the election to accelerate
is made. The Annual Account Balance shall be paid (or commenced) as
soon as administratively feasible after such delayed or accelerated
date. A Participant may, with respect to each Annual Account Balance,
make no more than 5 elections to delay, and no more than 2 elections to
accelerate, his scheduled benefit commencement date, subject to the
timing restrictions set forth above.
2. Effective June 30, 2003, the references to "8%" and "92%" in
the third sentence of Section 5.4(b) are replaced with references to "5%" and
3. Except as specified herein, the Plan shall remain in full
force and effect.
IN WITNESS WHEREOF, the Administrative Committee has caused its duly
authorized officer to execute this Third Amendment on the date first written
By: /s/ W. Reynolds
Title: /s/ W. Reynolds