AMENDMENT TO FOREST OIL CORPORATION AMENDED AND RESTATED 2005 SALARY DEFERRED COMPENSATION PLANEmployee Benefits Plan Agreement |
|
|
|
You are currently viewing: This Employee Benefits Plan Agreement involves
FOREST OIL CORPORATION. RealDealDocs™ contains millions of easily searchable legal documents and clauses from top law firms. Search for free - click here. |
|
|
|
Search Employee Benefits Plan Agreement by:
QuickLinks -- Click here to rapidly navigate through this document
AMENDMENT TO
FOREST OIL CORPORATION
AMENDED AND RESTATED
2005 SALARY DEFERRED COMPENSATION PLAN
WHEREAS , Forest Oil Corporation (the "Company") sponsors the Forest Oil Corporation Amended and Restated 2005 Salary Deferred Compensation Plan, as amended (the "Plan"), for the benefit of its eligible employees; and
WHEREAS , no employees have commenced participation in the Plan after December 31, 2005, no compensation deferral elections under Section 4(a) of the Plan have been made under the Plan with respect to any period after such date, and the Company has no intention of permitting any employee to commence participation in the Plan or to make such compensation deferral elections under the Plan in the future; and
WHEREAS , participants in the Plan were never offered deferral elections with respect to unvested restricted stock or compensatory stock options; and
WHEREAS , the Company desires to amend the Plan in certain respects;
NOW , THEREFORE , the Plan shall be amended as follows, effective as of August 30, 2007:
1. The following new paragraph shall be added to the end of Section 1 of the Plan:
-
"Notwithstanding any provision in the Plan to the contrary, (a) no deferral elections have been or may be made under the Plan with respect to unvested restricted stock or compensatory stock options, (b) no individual who is not a Participant in the Plan as of December 31, 2005, shall become a Participant in the Plan, and (c) no Participant in the Plan shall be permitted to make a compensation deferral election under Section 4(a) of the Plan with respect to any period after December 31, 2005."
2. The following shall be added to the end of Section 2(d)(iii) of the Plan:
-
"A transfer of assets by the Company is not treated as a change in the ownership of such assets if the assets are transferred to: (1) a shareholder of the Comp






