Exhibit 10(17)
PFIZER INC. NONFUNDED
DEFERRED
COMPENSATION AND UNIT AWARD PLAN
FOR
NON-EMPLOYEE
DIRECTORS
(Effective June 23,
1994)
(Amended September 26,
1996)
(Further Amended Effective March 1,
2006)
1. Each director who is not an employee of
Pfizer Inc. (the "Company") or any of subsidiaries may elect on or
before the last day of any calendar quarter to have payment of all
or a specified part of all fees payable to him or her for services
as a director during the following calendar quarter and thereafter
deferred until he or she ceases to be director of the Company. Any
such election shall be made by written notice directed the
Secretary of the Company. Any such election may be terminated, or
may be modified as to amount of deferral or form of deferral
(whether interest or units), with regard to fees to be paid during
the following calendar quarter and thereafter upon written notice
directed to the Secretary of the Company on or before the last day
of the calendar quarter preceding the calendar quarter in which
such fees would otherwise be payable. director may elect to switch
the form of deferral of previously deferred fees effective on the
first day of any calendar quarter by giving prior written notice
directed to the Secretary of the Company; provided, however, that a
switch into, or out of, the unit account shall be permitted only if
the director has not elected to switch out of, or into, the unit
account within this Plan, the Pfizer Company Stock Fund
within the Pfizer Savings Plan or the unit account within the
Pfizer Inc. Nonfunded Deferred Compensation and Supplemental
Savings Plan during the prior six months. The Awarded Units,
described in paragraph 7, shall not be affected by any such
election.
2. All deferred fees shall be held in the
general funds of the Company and shall be credited to the
director’s account, and, at the director’s election,
the account shall be credited either with a) interest at a rate
equal to the rate of return for the Intermediate Treasury
Index Fund within the Pfizer Savings Plan, compounded monthly
or, b) a number of units, calculated to the nearest thousandth of a
unit, produced by dividing the amount of fees deferred on the date
such fees would otherwise have been paid, by the closing market
price of the Company’s Common Stock as reported on the
Consolidated Tape of the New York Stock Exchange on the last
business day prior to the date such fees would otherwise have been
paid. In the case of Awarded Units, the director’s account
shall be credited with the number of Units so awarded on the date
specified in paragraph 7. Whenever a dividend is declared, the
number of units in the director’s account shall be increased
by the result of the following calculations: 1) the number of units
in the director’s account multiplied by any cash dividend
declared by the Company on a share of its Common Stock, divided by
the closing market price of such Common Stock on the related
dividend record date; and/or 2) the number of units in the
director’s account multiplied by any stock dividend declared
by the Company on a share of its Common Stock. Solely as to the
Awarded Units, a director may elect to receive in cash the value of
any cash dividend, declared by the Company on a share of its Common
Stock, in lieu of having his or her account credited as specified
above. Any such election shall be made, and may also be terminated,
by written notice directed to the Secretary of the
Company
