First Amendment to SCS Transportation, Inc. 2003 Omnibus Incentive Plan

Contract Categories: Human Resources › Bonus & Incentive Agreements
Summary

This amendment, effective December 11, 2003, modifies the SCS Transportation, Inc. 2003 Omnibus Incentive Plan. It allows Non-Employee Directors to defer all or part of their Mandatory and Discretionary Awards under the Plan, in accordance with the SCS Transportation, Inc. Directors' Deferred Fee Plan. The amendment was adopted by SCS Transportation, Inc. to provide greater flexibility in how directors receive their awards.

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EX-10.14 5 c83178exv10w14.txt FIRST AMENDMENT TO OMNIBUS INCENTIVE PLAN EXHIBIT 10.14 FIRST AMENDMENT TO THE SCS TRANSPORTATION, INC. 2003 OMNIBUS INCENTIVE PLAN WHEREAS, SCS Transportation, Inc. ("Company") adopted the SCS Transportation, Inc. 2003 Omnibus Incentive Plan ("Plan"); and WHEREAS, the Company retained the right to amend the Plan pursuant to Section 20 thereof; and WHEREAS, the Company desires to amend the Plan to permit Non-Employee Directors to defer their Mandatory and Discretionary Awards under Sections 10.1 and 10.2. NOW, THEREFORE, effective December 11, 2003, the Plan is amended as follows: 1. A new Section 10.4 is added to read as follows: 10.4 Deferral of Awards. Notwithstanding Sections 10.1 and 10.2, each Non-Employee Director shall have the right to defer all or a portion of his or her Mandatory Awards under Section 10.1 and Discretionary Awards under Section 10.2 under the SCS Transportation, Inc. Directors' Deferred Fee Plan. IN WITNESS WHEREOF, the foregoing amendment was adopted on the 11th day December, 2003.