AMENDMENT NO. 1 TO THE NAVISTAR INTERNATIONAL CORPORATION 2004 PERFORMANCE INCENTIVE PLAN

EX-10.40 6 exhibit10_40.htm EXHIBIT 10-40 Exhibit 10-40

EXHIBIT 10.40

AMENDMENT NO. 1

TO THE

NAVISTAR INTERNATIONAL CORPORATION

2004 PERFORMANCE INCENTIVE PLAN

1. Section VI(3) is hereby replaced in its entirety by the following:

(3) The Committee shall have the discretion to adjust the determination of the degree of attainment of the preestablished goals; provided that the Awards that are designated to qualify for Performance-Based Exception may not be adjusted upward (although the Committee shall retain the discretion to adjust such Awards downward). In no event shall the Performance Period for any performance-based equity Award be less than one year.

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