First Amendment to the Electronic Arts Inc. Deferred Compensation Plan,
Exhibit 10.58
Execution Copy
First Amendment
to the
Electronic Arts Inc. Deferred Compensation Plan,
As Amended and Restated as of January 1, 2005
WHEREAS, Electronic Arts Inc. (the Company) sponsors the Electronic Arts Inc. Deferred Compensation Plan, As Amended and Restated as of January 1, 2005 (the Plan); and
WHEREAS, the Company wishes to amend the provisions of the Plan relating to the deferral of annual bonuses; and
WHEREAS, the Company reserves the right to amend the Plan pursuant to Section 10.2 thereof;
NOW, THEREFORE, effective January 1, 2008, the Plan is amended as follows:
1. The following provisions shall be added at the end of Section 3.1(a) Annual Base Salary, Annual Bonus and Director Fees:
Effective for deferral elections made during any Plan Year commencing on or after January 1, 2008, a Participant may elect to defer, as his or her Annual Deferral Amount, Annual Base Salary and/or Director Fees in the following minimum amount:
Deferral | Minimum Amount | |
Annual Base Salary | $5,000 | |
Director Fees | $5,000 |
If an election is made for less than such minimums or if no election is made, the amount deferred shall be zero.
2. The following provisions shall be added at the end of Section 3.2(a) Annual Base Salary, Annual Bonus and Director Fees:
Effective for deferral elections made during any Plan Year commencing on or after January 1, 2008, a Participant may elect to defer, as his or her Annual Deferral Amount, Annual Base Salary and/or Director Fees up to the following maximum percentages for each deferral elected:
Deferral | Maximum Percentage | |
Annual Base Salary | 75% | |
Director Fees | 100% |
IN WITNESS WHEREOF, the Company has signed this First Amendment to the Plan as of this 12th day of August, 2008.
Electronic Arts Inc.
By: /s/ John Andrews
Title: VP, HR Operations