Amendment to GM Offshore, Inc. Executive Nonqualified Excess Plan (Section 2.5 Change in Control Event)

Contract Categories: Business Finance › Modification Agreements
Summary

This agreement, made by GM Offshore, Inc., amends its Executive Nonqualified Excess Plan. Effective October 14, 2009, the amendment updates the definition of a "Change in Control Event" to align with specific Treasury regulations and clarifies that it applies to GulfMark Offshore, Inc. or its successor. The amendment is executed by an authorized officer of GM Offshore, Inc.

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EX-10.8 10 h68219exv10w8.htm EX-10.8 exv10w8
Form of
AMENDMENT
TO THE
GM OFFSHORE, INC.
EXECUTIVE NONQUALIFIED EXCESS PLAN
     THIS AGREEMENT by GM Offshore, Inc., a Delaware corporation (the “Company”),
W I T N E S S E T H:
     WHEREAS, the Company previously adopted the Executive Nonqualified Excess Plan (the “Plan”);
     WHEREAS, pursuant to Section 14 of the Plan, the Company has the right to amend the Plan; and
     WHEREAS, the Company desires to amend the Plan;
     NOW, THEREFORE, effective October 14, 2009, Section 2.5 of the Executive Nonqualified Excess Plan Plan Document is completely amended and restated to provide as follows:
2.5 “Change in Control Event” means the occurrence of a “Change in Control Event” within the meaning of section 1.409A-3(i)(5) of the Department of Treasury regulations with respect to GulfMark Offshore, Inc., a Delaware corporation, or its successor by merger.

 

 

     IN WITNESS WHEREOF, the Company has caused its duly authorized officer to execute this Agreement effective as of October 14, 2009.
             
    GM OFFSHORE, INC.    
 
            
 
  By:        
 
  Title:  
 
    
 
  Date:  
 
    
 
     
 
    

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