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EXHIBIT 10
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FORM OF SEVERANCE LETTER AGREEMENT
Benjamin Moore & Co.
51 Chestnut Ridge Road
Montvale, New Jersey 07645
November 2, 2000
Dear __________:
This letter is intended to memorialize the terms of the understanding
between you and Benjamin Moore & Co. (the "Company") that the Company will
provide you with the following enhanced severance benefits upon your termination
of employment with the Company at any time for any reason other than (x) your
voluntary resignation from service with the Company without "Good Reason" as
defined in Sections 2.14 and 2.18 of the Company's Key Employee Severance
Protection Plan (the "Plan") or (y) a termination of your employment by the
Company for "Cause," as defined in Section 2.6 of the Plan, for death, or for
"Disability," as defined in Section 2.10 of the Plan.
This letter is intended to acknowledge that the Company has agreed to
provide you with severance pay equal to 12 months of Base Salary (as defined
in the Plan) in lieu of the severance pay to which you would otherwise be
entitled pursuant to Section 4.2(c) of the Plan.
Except as otherwise provided herein, all other provisions of the Plan
shall remain in effect and continue to apply to a termination of your employment
with the Company.
BENJAMIN MOORE & CO.
By: ____________________________________
Name:
Title:
Date: ______________________________
ACCEPTED AND AGREED TO:
_______________________
Date:___________________
