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2010-1 AMENDMENT TO THE STEELCASE INC. EXECUTIVE SEVERANCE PLAN

Equity Incentive Plan Agreement

2010-1 AMENDMENT TO THE STEELCASE INC. EXECUTIVE SEVERANCE PLAN | Document Parties: STEELCASE INC You are currently viewing:
This Equity Incentive Plan Agreement involves

STEELCASE INC

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Title: 2010-1 AMENDMENT TO THE STEELCASE INC. EXECUTIVE SEVERANCE PLAN
Date: 10/5/2009
Industry: Furniture and Fixtures     Sector: Consumer Cyclical

2010-1 AMENDMENT TO THE STEELCASE INC. EXECUTIVE SEVERANCE PLAN, Parties: steelcase inc
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EXHIBIT 10.1

2010-1 AMENDMENT
TO THE
STEELCASE INC.
EXECUTIVE SEVERANCE PLAN

     This 2010-1 Amendment to the STEELCASE INC. EXECUTIVE SEVERANCE PLAN (the “Plan”) is adopted by Steelcase Inc. (the “Company”). The amendment is effective as of June 24, 2009.

     Pursuant to Section 6 of the Plan, the Company amends the Plan as follows:

A.

     Sections 1.11 is amended and replaced in its entirety with the following:

     SECTION 1.11 “ CIC SERP Benefit ” means the present value of a Severed Employee’s benefit determined under the terms of the SERP, as if the Severed Employee had met the conditions for Normal Retirement (as such term is defined in the SERP) or Early Retirement (as such term is defined in the SERP), with the following modifications:

(a) the Severed Employee’s “Vested Percentage” (as such term is used in Section 5 of the SERP) shall be 100%;

(b) such benefit, as modified by clause (a) above, multiplied by the following fraction:

(1) the numerator o


 
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