Amendment No. 8 to Alltel Corporation 1998 Management Deferred Compensation Plan

Contract Categories: Human Resources › Compensation Agreements
Summary

This amendment, effective January 1, 2008, modifies the Alltel Corporation 1998 Management Deferred Compensation Plan. It changes how interest is credited to participants' deferred compensation accounts, setting the interest rate at 500 basis points for each year after December 31, 2007. The amendment applies to all participants, including those with deferrals from related incentive compensation plans. Alltel Corporation, represented by its President and CEO, executed this amendment.

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EX-10.F9 21 alltelex10f9032008.htm AMENDMENT NO. 8 TO THE ALLTEL CORPORATION 1998 MANAGEMENT DEFERRED COMPENSATION PLAN EFFECTIVE JANUARY 1, 2008 Unassociated Document

 
Exhibit (10)(f)(9)
AMENDMENT NO. 8
 
TO
 
ALLTEL CORPORATION
 
 1998 MANAGEMENT DEFERRED COMPENSATION PLAN

 
WHEREAS, Alltel Corporation ("Alltel") maintains the Alltel Corporation 1998 Management Deferred Compensation Plan, effective June 23, 1998, as amended (the "Plan"); and
 
WHEREAS, Alltel desires to further amend the Plan regarding the crediting of earnings and interest under the Plan for all Participants, which shall also apply to any deferrals of those Participants of awards under the Alltel Corporation Performance Incentive Compensation Plan, as amended, and the Alltel Corporation Long-Term Performance Incentive Compensation Plan, as amended and any other plans as applicable;
 
                NOW, THEREFORE, BE IT RESOLVED, that the Plan is hereby amended effective January 1, 2008, in the respects hereinafter set forth:
 
Article I of the Plan is amended to state:
 
“1.18.  “Interest Rate” shall, except as otherwise provided in Section 3.3, mean a percentage equal to the “Prime Rate” as published in the first issue (in which “Prime Rate” is published) of the Wall Street Journal during each Year beginning after December 31, 1998, plus two hundred (200) basis points.  For each Year beginning after December 31, 2007, “Interest Rate” shall mean five hundred (500) basis points.”
 
 
IN WITNESS WHEREOF, Alltel has caused this Amendment to be executed on this 1st day of January, 2008.
 
 
ALLTEL CORPORATION
                                                                                                                                                     &# 160;                                     
                                                                                                                                                     &# 160;                                      By:  /s/ Scott T. Ford                                         
                                                                                                                                             Title: President and Chief Executive Officer