Amendment No. 1 to Rewards Network Inc. 2006 Long-Term Incentive Plan
This amendment, effective January 1, 2009, modifies the Rewards Network Inc. 2006 Long-Term Incentive Plan. The changes were authorized by the company's Board of Directors to ensure the plan complies with final IRS regulations under Section 409A of the Internal Revenue Code. The amendment updates specific plan sections to reference and align with these tax regulations. The document is executed by Rewards Network Inc. and signed by an authorized representative.
Exhibit 10.10
AMENDMENT NUMBER ONE
TO THE
REWARDS NETWORK INC.
2006 LONG-TERM INCENTIVE PLAN
WHEREAS, Rewards Network Inc., a Delaware corporation (the Company), has heretofore adopted and maintains the Rewards Network Inc. 2006 Long-Term Incentive Plan (the Plan);
WHEREAS, the Board of Directors of the Company (the Board) has retained the power to amend the Plan; and
WHEREAS, the Board has authorized the amendment of the Plan to comply with final regulations issued under Section 409A of the Internal Revenue Code of 1986, as amended (the Code).
NOW THEREFORE, pursuant to the power of amendment contained in Section 8(e) of the Plan, the Plan is hereby amended, effective as of January 1, 2009, as follows:
1. Section 2(h) of the Plan is hereby amended by adding in accordance with Section 409A of the Code immediately prior to the proviso set forth therein.
2. Section 6(c)(i) of the Plan is hereby amended by adding the phrase and permitted under Section 409A of the Code immediately after the phrase except as provided in Section 7(a), where it appears therein.
3. Section 6(e)(i) of the Plan is hereby amended by adding in accordance with Section 409A of the Code at the end of the first sentence thereof.
IN WITNESS WHEREOF, the Company has caused this instrument to be executed by its duly authorized agent on this 31st day of December, 2008.
REWARDS NETWORK INC. | ||
By: | /s/ Ronald L. Blake |
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