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EXHIBIT
10.10
FIRST 2009 AMENDMENT
TO
LA-Z-BOY
INCORPORATED
2004 LONG-TERM EQUITY AWARD
PLAN
La-Z-Boy Incorporated (the
“Company”) adopts this First 2009 Amendment to the
La-Z-Boy Incorporated 2004 Long-Term Equity Award Plan (the
“Plan”).
WITNESSETH
:
WHEREAS the Company previously established the Plan for
the benefit of certain of its eligible employees; and
WHEREAS pursuant to Article X, Section 10.2 of the Plan,
the Company reserved the right to amend the Plan subject to the
conditions provided therein; and
WHEREAS the Company believes it advisable and in the
Company’s best interests to make certain changes
to the Plan;
NOW, THEREFORE , the Plan is amended as follows:
1.
The following is added as section 3.7:
3.7. Allocation of Awards.
Notwithstanding anything herein to the contrary, the
Administrator may, in its sole discretion, provide for an aggregate
total of grants of Awards to Employees who are Executive Management
Employees, Senior Management Employees, or Key Management
Employees, such grants to be allocated among Employees within each
group by the Company’s Chief Executive Officer in the Chief
Executive Officer’s sole discretion, which discretion shall
include the ability to issue no Award to one or more Employees
within a group. The Administrator may make such
provision as to one or more of the specified Employee groups,
designating aggregate grants either for each group or for multiple
groups combined.
2.
The existing section 10.7 is deleted and replaced with the
following:
10.7. Right
of Recapture. If (a) at any time within one year
after the date on wh
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