Amendment to 2000 Incentive Compensation Plan—Section 4.2 Award Agreement Provision

Contract Categories: Human Resources › Bonus & Incentive Agreements
Summary

This amendment updates Section 4.2 of the 2000 Incentive Compensation Plan, effective January 1, 2008. It requires that each award under the plan be documented by an Award Agreement. If there is any conflict between the plan and an Award Agreement, the plan's terms will take precedence. The amendment clarifies the relationship between the plan and individual award agreements for participants.

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EX-10.5 6 ex10-5.htm AMENDMENT TO 2000 INCENTIVE COMP PLAN ex10-5.htm
 
 
 

Exhibit 10.5
 
 
 
Amendment to 2000 Incentive Compensation Plan
 
 
 
 
Section 4.2 of the 2000 Incentive Compensation Plan was amended effective January 1, 2008 by replacing Section 4.2 of such Plan in its entirety with the following new Section 4.2:
 
"4.2                      Award Agreement.  Each Award granted under the Plan shall be evidenced by an Award Agreement; provided, however, that in the event of any conflict between a provision of the Plan and any provision of an Award Agreement, the provision of the Plan shall prevail."