Amendment to A. O. Smith Corporation Corporate Directors' Deferred Compensation Plan
This amendment allows directors participating in the A. O. Smith Corporation Corporate Directors' Deferred Compensation Plan to elect to terminate their participation in the plan during 2005 by filing an election by December 31, 2005. Upon termination, the director's entire account balance will be distributed as soon as possible, and the amount will be reported as taxable income for 2005. This change is made in accordance with IRS Notice 2005-1.
Exhibit 10(f)
AMENDMENT OF
A. O. SMITH CORPORATION
CORPORATE DIRECTORS’ DEFERRED COMPENSATION PLAN
The A. O. Smith Corporation Corporate Directors’ Deferred Compensation Plan is amended effective as of
January 1, 2005, to add the following paragraph to Section III of the Plan:
“Pursuant to Internal Revenue Service Notice 2005-1, any Director participating in the Plan may elect to terminate participation in the Plan during 2005 by filing such election by December 31, 2005. Upon the filing of such election to terminate participation, the Director’s entire account balance shall be distributed to him or her as soon as practicable after the date the notice of termination has been received. The amount distributed upon termination of participation shall be reported as includible in the income of the Director for calendar year 2005.”
