First Amendment to U.S. Bancorp 2007 Stock Incentive Plan
Contract Categories:
Human Resources
›
Bonus & Incentive Agreements
Summary
This amendment updates the U.S. Bancorp 2007 Stock Incentive Plan by revising the definition of 'Specified Employee' to align with IRS Code Section 409A, effective January 1, 2009. All other terms of the original plan remain unchanged. The amendment ensures compliance with tax regulations regarding deferred compensation for certain employees.
EX-10.4.B 8 c48479exv10w4wb.htm EX-10.4.B EX-10.4.B
Exhibit 10.4(b)
FIRST AMENDMENT
OF
U.S. BANCORP 2007 STOCK INCENTIVE PLAN
OF
U.S. BANCORP 2007 STOCK INCENTIVE PLAN
The U.S. Bancorp 2007 Stock Incentive Plan (the “Plan”) is amended in the following respects:
1. SPECIFIED EMPLOYEE. Effective for determinations of who is a specified employee on and after January 1, 2009, Section 2(dd) shall be amended to read as follows:
(dd) “Specified Employee” shall mean an employee who is a specified employee for purposes of Code Section 409A as defined in the separate document entitled “U.S. Bank Specified Employee Determination.”
2. SAVINGS CLAUSE. Save and except as expressly amended above, the Plan shall continue in full force and effect.
