Amendment to Morgan Stanley DPSP/START Plan (January 2003)
Morgan Stanley & Co. Incorporated has amended its DPSP/START Plan, effective January 26, 2003. The amendment clarifies rules regarding the acquisition or sale of Morgan Stanley stock by plan participants, ensuring compliance with insider trading policies and relevant securities regulations. The Administrative Committee is given authority to set uniform rules for participants subject to Section 16 of the Securities Exchange Act and to control when participants may direct stock transactions under the plan. The amendment was executed by Morgan Stanley on January 23, 2003.
Exhibit 10.18
AMENDMENT TO DPSP/START PLAN
Effective January 26, 2003, Morgan Stanley & Co. Incorporated (the “Corporation”) hereby amends the Morgan Stanley DPSP/START Plan (the “DPSP/START Plan”) as follows:
1. The second sentence of Section 8(d)(v) of the DPSP/START Plan shall be amended to read as follows:
“Without limiting the generality of the foregoing, (i) the Administrative Committee may from time to time prescribe rules of uniform application to those Participants subject to Section 16 of the Securities Exchange Act of 1934, as amended, to ensure compliance with the conditions for exemption in Rule 16b-3 under such Section, and (ii) except as the Administrative Committee may otherwise provide in its sole discretion, no acquisition or disposition of allocated Morgan Stanley Stock at the direction of a Participant or Beneficiary may be effected unless directed by the Participant or Beneficiary at a time at which that particular Participant or Beneficiary would be permitted, under Morgan Stanley’s policies regarding insider trading by employees, to acquire or dispose, respectively, of Morgan Stanley Stock owned by such Participant or Beneficiary other than under the Plan.”
IN WITNESS WHEREOF, the Corporation has caused this Amendment to be executed on its behalf as of the 23rd day of January, 2003.
| MORGAN STANLEY & CO. INCORPORATED | ||
| By: | /S/ MICHAEL T. CUNNINGHAM | |
