Amendment to The Estée Lauder Companies Inc. Non-Employee Director Share Incentive Plan
The Estée Lauder Companies Inc. Board of Directors amended its Non-Employee Director Share Incentive Plan on July 20, 2005. The amendment allows non-employee directors to defer receiving shares of Class A Common Stock, provided the deferral complies with Section 409A of the Internal Revenue Code. This change gives directors more flexibility in when they receive their share awards, subject to tax law requirements.
EXHIBIT 10.16a
AMENDMENT TO NON-EMPLOYEE DIRECTOR SHARE INCENTIVE PLAN
On July 20, 2005, The Board of Directors of The Estée Lauder Companies Inc. adopted the following amendment to the Non-Employee Director Share Incentive Plan:
Section 8(c) of the Non-Employee Director Share Incentive Plan is revised to read in its entirely as follows:
(c) The Board may, in its discretion, allow a Non-Employee Director to defer receipt of shares of Class A Common Stock in a manner which complies with Section 409A of the Internal Revenue Code of 1986, as amended.
