Fourth Amendment to AnnTaylor Stores Corporation 2002 Stock Option and Restricted Stock and Unit Award Plan
This amendment updates the AnnTaylor Stores Corporation 2002 Stock Option and Restricted Stock and Unit Award Plan, effective March 13, 2008. It adds a provision specifying that Restricted Unit Awards must be settled promptly after vesting, but no later than the end of the applicable 2.5-month period as defined by IRS regulations. All other terms of the original plan remain unchanged.
Exhibit 10.9
FOURTH AMENDMENT TO
THE ANNTAYLOR STORES CORPORATION
2002 STOCK OPTION AND RESTRICTED STOCK AND UNIT AWARD PLAN
The AnnTaylor Stores Corporation 2002 Stock Option and Restricted Stock and Unit Award Plan (the “Plan”) is hereby amended effective as of March 13, 2008 (the “Effective Date”) as set forth below.
1. Section 7 of the Plan is hereby amended to add Subsection (h) at the end thereof as follows, effective with respect to all Options (as defined in the Plan) granted pursuant to the Plan, including outstanding Options granted before the Effective Date:
“(h) CERTAIN PROVISIONS APPLICABLE TO RESTRICTED UNIT AWARDS. Unless otherwise provided in the Restricted Unit Award Agreement, Restricted Unit Awards shall be settled as soon as practicable following the vesting thereof (but in no event later than the last day of the ‘applicable 2 1/2 month period’, as such term is defined in Treasury Regulation § 1.409A-1(b)(4)(i)(A)).”
Except as set forth above, the Plan is hereby ratified and affirmed in all respects.
