Amendment to 2005 Three-Year Performance Award under Long-Term Incentive Plan
This amendment clarifies that for three-year Performance Awards granted in 2005 under the company's Long-Term Incentive Plan, the target for Compound Annual Growth Rate (CAGR) of Adjusted Operating Cash Flow (AOCF) will not be changed. All other adjustments specified in the original Performance Award Agreements will still apply. The amendment ensures that the AOCF target remains fixed, while other terms of the awards continue as previously agreed.
Exhibit 10.59
AMENDMENT TO 2005 THREE-YEAR PERFORMANCE AWARD
Notwithstanding anything to the contrary contained in the Performance Award Agreements reflecting grants, during calendar year 2005, of three-year Performance Awards under the Company’s then in effect Long-Term Incentive Plan, the Compound Annual Growth Rate (CAGR) percentage target for the Adjusted Operating Cash Flow (AOCF) component of the performance Objective stated in such Award Letters shall not be adjusted. All other adjustments required by such Performance Award Agreements shall be made and shall remain in effect.
