Amendment to SLM Corporation Deferred Compensation Plan for Key Employees (June 25, 2015)

Contract Categories: Human Resources › Compensation Agreements
Summary

This amendment updates the SLM Corporation Deferred Compensation Plan for Key Employees, originally established in 2014. Effective June 25, 2015, the definition of the term "Committee" in the plan is revised to refer to the SLM Corporation Retirement Committee or another committee appointed by the company's Enterprise Risk Committee. The amendment was approved by the company's Board of Directors and clarifies which group is responsible for administering the plan.

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EX-10.4 6 slm20150630ex104.htm EXHIBIT 10.4 slm20150630ex104




Exhibit 10.4



AMENDMENT
TO THE
SLM CORPORATION DEFERRED COMPENSATION PLAN FOR KEY EMPLOYEES
Effective June 25, 2015

The SLM Corporation Deferred Compensation Plan for Key Employees (the “Plan”), as established effective May 1, 2014 (and filed as Exhibit 10.42 to the Company's Annual Report on Form 10-K filed on February 26, 2015) was amended as of June 25, 2015 by action of the Company's Board of Directors to reflect the following:
Section 2.1 of the Plan was amended and the term “Committee” was redefined as follows:
Committee. “Committee” means the SLM Corporation Retirement Committee, or such other committee whose members may be appointed by and serving at the pleasure of the management-level Enterprise Risk Committee of the Company.