Amendment No. 4 to Flowserve Corporation 1998 Restricted Stock Plan

Summary

This amendment updates the Flowserve Corporation 1998 Restricted Stock Plan, allowing eligible participants to defer the receipt of restricted shares by notifying the company. The deferral applies to shares not yet granted or those that vest after the election, provided IRS requirements are met. The amendment takes effect January 1, 2001, and all other terms of the plan remain unchanged.

EX-10.1 3 d89895ex10-1.txt AMENDMENT NO. 4 TO 1998 RESTRICTED STOCK PLAN 1 EXHIBIT 10.1 AMENDMENT NO. 4 TO FLOWSERVE CORPORATION 1998 RESTRICTED STOCK PLAN Effective January 1, 2001, Paragraph (b) of Section 1 Forms of Deferral is hereby amended to read in its entirety: (b) An Eligible Participant may defer the receipt of Restricted Shares issuable pursuant to the Plan by filing an appropriate notice with the Secretary of the Company. An election to defer Shares shall be effective upon such acceptance and shall apply only to Shares which either (i) have not yet been granted or awarded or (ii) which vest thereafter, provided, in the case of this clause (ii), such election is made and accepted in conformance with applicable IRS requirements, in the opinion of the Company's tax advisors. This election to defer to Restricted Shares (which shall be called "Deferred Shares" hereafter upon such election) shall remain in effect until terminated or changed as provided in this Plan. The remainder of the Plan shall remain unchanged and in full force and effect. FLOWSERVE CORPORATION By: /s/ Ronald F. Shuff ----------------------------- Ronald F. Shuff Vice President, Secretary and General Counsel