Amendment to Employment Agreement between Robert K. Burgess, Adobe Systems Incorporated, and Adobe Macromedia Software LLC

Summary

This amendment updates the employment agreement between Robert K. Burgess, Adobe Systems Incorporated, and Adobe Macromedia Software LLC. The main change ensures that any payments to Mr. Burgess upon termination comply with Section 409A of the Internal Revenue Code, which may require delaying certain payments for up to six months to avoid tax penalties. All other terms of the original agreement remain unchanged.

EX-10.2 2 a05-21650_1ex10d2.htm MATERIAL CONTRACTS

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 Executive’s “separation from service” earlier than six (6) months following Executive’s 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 Executive’s 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