Amendment to Executive Management Non-Qualified Deferred Compensation and Long-Term Incentive Plan (Executive Management Non-Qualified Deferred Compensation and Supplemental Executive Retirement Plan)

EX-10.10.3 5 lad2019q4-10k_ex10103.htm EXHIBIT 10.10.3 Exhibit

EX 10.10.3

AMENDMENT NO. 1

TO THE

LITHIA MOTORS, INC.

EXECUTIVE MANAGEMENT NON-QUALIFIED DEFERRED COMPENSATION

AND LONG-TERM INCENTIVE PLAN

WHEREAS, Lithia Motors, Inc. (the “Company”) established and maintains the Lithia Motors, Inc. Executive Management Non-Qualified Deferred Compensation and Long-Term Incentive Plan, effective February 22, 2011 (the “Plan”); and

WHEREAS, Section 9.1(a) of the Plan grants the Compensation Committee of the Company’s Board (the “Committee”) authority to amend the Plan for the purpose of clarifying the Plan type; and

WHEREAS, the Compensation Committee desires to amend the Plan, effective September 1, 2018, to change the Plan name.

NOW, THEREFORE, the Plan is hereby amended, in the following respects:

“Lithia Motors, Inc. Executive Management Non-Qualified Deferred Compensation and Long-Term Incentive Plan” is hereby renamed “Lithia Motors, Inc. Executive Management Non-Qualified Deferred Compensation and Supplemental Executive Retirement Plan” and is replaced in each place it occurs in the Plan document.

IN WITNESS WHEREOF, the undersigned executed this Amendment No. 1 as of September 1, 2018.

LITHIA MOTORS, INC.

Carla Hegler, Director

Name, Title