Exhibit No. 10(f)(*)
AMENDMENT TO
AMENDED AND RESTATED COMPENSATION
AGREEMENT
FOR MYRON KUNIN
This Amendment (the
“Amendment”) to the Amended and Restated Compensation
Agreement entered into between Regis Corporation, a Minnesota
corporation (the “Corporation”), and Myron Kunin
(“Kunin”) as of June 29, 2007 is hereby entered
into as of December 23, 2008 (the “Effective
Date”). The Corporation and Kunin shall be referred to
herein together as “the Parties.”
WHEREAS, the Parties previously
entered into a Compensation and Non-Competition Agreement, dated
May 7, 1997 (the “Original Agreement”);
and
WHEREAS, the Original Agreement was
amended from time to time and was last amended and restated as of
June 29, 2007 (the “Restated Agreement”);
and
WHEREAS, the Parties wish to amend
the Restated Agreement as of the date hereof to make certain
changes to comply with Section 409A of the Internal Revenue
Code of 1986, as amended (the “Code”);
NOW, THEREFORE, IN CONSIDERATION of
the mutual agreements hereinafter contained, the parties hereby
agree as follows:
1.
Paragraph 1 of the Restated
Agreement shall be amended by deleting it in its entirety and
replacing it as follows:
Continued Compensation
Payments . The
Corporation shall continue to pay Kunin the amount specified under
the Agreement, that is, $600,000 per year, increased each year,
commencing July 1, 1997, in proportion to any increase in the
consumer price index (as defined in the Original Agreement) from
July 1, 1996, to each July 1 thereafter in which payments
are made to Kunin under the Restated Agreement. Such amount
shall be paid to Kunin on a monthly basis for his lifetime.
Under no circumstances shall the annual amount payable to Kunin
pursuant to this paragraph 1 be decreased in any year.
2.
Paragraph 5 of the Restated
Agreement shall be amended by deleting it in its entirety and
replacing it as follows:
Change in Control
Benefits . In
addition to the benefits payable to Kunin under other provisions of
this Restated Agreement, in the event a Change in Control of the
Corporation occurs at any time prior to Kunin’s death, the
Corporation shall provide to Kunin the benefits described in (a),
(b), (c), (d) and (e) below:
(a)
In lieu of the monthly payments provided under paragraph 1 above,
the Corporation shall pay to Kunin within five (5) days after
a
