Amendment No. 1 to Alpharma Inc. Amended and Restated Deferred Compensation Plan

Contract Categories: Human Resources › Compensation Agreements
Summary

This amendment to the Alpharma Inc. Amended and Restated Deferred Compensation Plan, effective January 1, 2006, states that no new employees can join the plan after December 31, 2005. Additionally, starting in 2006, employees are no longer allowed to defer any salary, fees, commissions, or bonus compensation into the plan. The amendment applies to all payroll periods beginning in 2006 and restricts further participation and deferrals under the plan.

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EX-10.46A 12 exh10_46a.htm AMENDMENT NO. 1 TO THE ALPHARMA INC. AMENDED AND RESTATED DEFERRED COMPENSATION PLAN AMENDMENT NO

AMENDMENT NO. 1 TO THE ALPHARMA INC.
AMENDED AND RESTATED DEFERRED COMPENSATION PLAN

 

The Alpharma Inc. Amended and Restated Deferred Compensation Plan (the "Plan") is hereby amended effective as of the date indicated below, as follows:

    1. Effective January 1, 2006, Section II. of the Plan is hereby amended by adding the following to the end thereof:

      2. "No employee shall become a participant in the Plan after December 31, 2005."

       

    2. Effective with the first payroll period ending in 2006, Section III. A of the Plan is hereby amended by adding the following to the end thereof:

      3. "Effective January 1, 2006, no employee shall be permitted to defer salary, fee or commission compensation to the Plan."

       

    3. Effective with the first payroll period ending in 2006, Section III. B. of the Plan is hereby amended by adding the following to the end thereof:

"Effective January 1, 2006, no employee shall be permitted to defer bonus compensation to the Plan."

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