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First Amendment To The Salary Continuation Agreement

This is an actual contract by Ridgeview.

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Sectors: Consumer Products (Non-Durables)
Effective Date: June 08, 1992
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STATE OF NORTH CAROLINA )
) FIRST AMENDMENT TO COUNTY OF CATAWBA ) SALARY CONTINUATION AGREEMENT


This first Amendment to the Salary Continuation Agreement entered into this the 8th day of June, 1992, by and between Ridgeview, Inc., a North Carolina Corporation, (hereinafter Ridgeview), and William D. Durrant, a resident of Conover, County of Catawba, State of North Carolina (hereinafter Employee).


WHEREAS, the parties entered into that Salary Continuation Agreement dated March 1, 1983, (a copy of which is attached hereto and incorporated by reference), and wish to amend the same by increasing the benefit payable under said agreement and to make certain administrative changes and consistent benefit formula changes.


NOW THEREFORE, the parties agree as follows:


1. That the retirement benefit payable under said Agreement shall be sixty percent (60%) of the highest base salary of Employee during his employ with Ridgeview, payable monthly for fifteen (15) years.


2. That the death benefit payable under said Agreement shall be sixty (60%) of the highest base salary paid Employee during his employ with Ridgeview, payable monthly for fifteen (15) years and payable to the person or persons as prescribed in the that Agreement.


3. That Paragraph 3. of said Agreement is deleted and the following Paragraph 3. is inserted therein:


DISABILITY BENEFIT. If Employee becomes totally and
permanently disabled pri
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