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Exhibit 10(iii)A(1)(b)
AMENDMENT NO. 4
TO THE
SUPPLEMENTAL RETIREMENT PLAN FOR EXECUTIVES
OF
NATIONAL SERVICE INDUSTRIES, INC.
THIS AMENDMENT made as of the 1st day of December, 1996 by NATIONAL
SERVICE INDUSTRIES, INC., a Delaware corporation ("NSI");
WITNESSETH
WHEREAS, NSI previously established the Supplemental Retirement Plan
for Executives of National Service Industries, Inc. ("Plan") for the exclusive
benefit of its eligible executives and their beneficiaries; and
WHEREAS, NSI desires to amend the Plan to clarify the benefits payable
upon the death of a participating executive;
NOW, THEREFORE, the Plan is hereby amended as follows:
1.
Article IV is hereby amended by deleting the present provision in its
entirety and substituting the following in lieu thereof:
"ARTICLE IV
DEATH BENEFITS
The Death Benefits payable following the death of a
Participant shall be determined as follows:
(a) Death Prior to Eligibility for Early Retirement
or Normal Retirement: No death benefit is provided under this
Plan for Participants who die prior to completing the
eligibility requirements for Early Retirement or Normal
Retirement.
(b) Death After Attaining Eligibility for Early
Retirement or Normal Retirement: If a Participant dies while
employed by the Company or an Adopting Employer after
completing the eligibility requirements for Early Retirement
or Normal Retirement, the Participant's designated beneficiary
shall be paid the amount which would have been payable to the
Participant under this Plan had the Participant retired
immediately prior to the moment of his death, with such
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Exhibit 10(iii)A(1)(b)
payments commencing on the first day of the month following
the date of death of the Participant. The Participant's
beneficiary shall receive the 120 monthly payments under the
normal form of pension payment (as described in Section 3.7)
and the payments shall cease after such 120 monthly payments
have been made. In computing the amount payable under this
Plan, the Actuarial Equivalent of any Group Term Life
Insurance benefits (Policy No. 8800-1(52) or its replacement)
payable as a result of the Participant's death while covered
under Pension Plan C shall be deemed to have been paid as a
death benefit from Pension Plan C. If the Participant
terminates employment after satisfying the requirements for
Early Retirement but delays commencement of his Pension, he
shall be covered by the death benefit provisions of this
subsection (b) until his Pension payments commence."
2.
This Amendment No. 4 shall be effective as of the date hereof. Except
as hereby modified, the Plan shall remain in full force and effect.
IN WITNESS WHEREOF, NSI has caused this Amendment No. 4 to be executed
by its duly authorized corporate officers as of the date and year first above
written.
NATIONAL SERVICE INDUSTRIES, INC.
By: /S/ DAVID LEVY
ATTEST:
By:/S/ KEN MURPHY
