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Exhibit 10.34.1
FIRST AMENDMENT TO THE
SHELDAHL, INC. SUPPLEMENTAL
EXECUTIVE RETIREMENT PLAN
THIS INSTRUMENT, amending the Sheldahl, Inc. Supplemental Executive
Retirement Plan, is made and entered into by Sheldahl, Inc., a Minnesota
corporation, and shall be effective as of October 14, 1997.
AMENDMENT
1. Section 5.2 is hereby amended to read as follows:
5.2 A Participant may elect to have the amount deferred each
year distributed in one of the following forms:
(a) a single lump sum;
(b) distribution in equal annual installments (not
exceeding 10); or
(c) distribution of $10,000.00 annually until the account
is depleted.
Installment payments shall commence on the 15th day of the first
calendar quarter immediately following the date specified in the
Participant's election, with succeeding amounts paid on each January
15th thereafter. The amount of each installment under (b) and (c) shall
be determined each year by dividing the total of the account by the
number of installments remaining to be paid, including the current
installment.
2. Except as otherwise provided above, the provisions of the Sheldahl,
Inc. Supplemental Executive Retirement Plan shall remain in full force and
effect.
IN WITNESS WHEREOF, the Board of Directors of Sheldahl, Inc. has
authorized its officer to execute this amendment, to be effective as of the date
first above written.
SHELDAHL, INC.
By
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Its
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