Amendment To Employment Agreement
Exhibit 10.2
Amendment To Employment Agreement
This Amendment To Employment Agreement (Amendment) is made and entered into by and among Robert K. Burgess (Executive), on the one hand, and Adobe Systems Incorporated (the Company), the new parent company of Adobe Macromedia Software LLC (formerly Macromedia, Inc.) (Macromedia), and Macromedia, on the other hand. Executive and Macromedia are parties to an Amended and Restated Employment Agreement of January 19, 2005 (the Agreement). The parties now wish to amend the Agreement on the terms set forth herein.
1. In recognition of the fact that Section 409A of the Internal Revenue Code may prohibit the payment of certain benefits in connection with Executives separation from service earlier than six (6) months following Executives termination of employment, a new Section 10.7 designed to ensure the Agreement complies with the requirements of Section 409A is added to the Agreement to read in its entirety as follows:
10.7 Compliance With Section 409A. Notwithstanding any other provision of this Agreement, any payments that may be subject to Internal Revenue Code (Code) Section 409A and due Executive in connection with Executives termination of employment shall be delayed until the earliest date necessary to enable such payments to be made without incurring an excise tax under Code Section 409A.
2. Except as modified by this Amendment, the Agreement shall remain in full force and effect.
Dated: December 7, 2005 | /s/ Robert K. Burgess |
| ||
| Robert K. Burgess | |||
|
| |||
Dated: December 7, 2005 | ADOBE SYSTEMS INCORPORATED | |||
|
| |||
|
| |||
| By: | /s/ Bruce R. Chizen |
| |
| Name: Bruce R. Chizen | |||
| Title: Chief Executive Officer | |||
|
| |||
|
| |||
Dated: December 7, 2005 | ADOBE MACROMEDIA SOFTWARE LLC | |||
|
| |||
|
| |||
| By: | /s/ Karen O. Cottle |
| |
| Name: Karen O. Cottle | |||
| Title: Vice President and Secretary | |||