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Exhibit 10.98
AMENDMENT TO
ALLIED WASTE INDUSTRIES, INC.
EXECUTIVE DEFERRED COMPENSATION PLAN
AND 2005 EXECUTIVE DEFERRED COMPENSATION PLAN
THIS
AMENDMENT is made and entered into on December 29, 2005, by
Allied
Waste Industries, Inc. ("Company").
R E C I T A L S:
1. Company
maintains the Allied Waste Industries, Inc. Executive Deferred
Compensation Plan ("Grandfathered Plan"), which is a non-qualified
deferred
compensation plan;
2. Section
409A of the Internal Revenue Code imposes new requirements on
non-qualified deferred compensation plans effective January 1,
2005, but
generally exempts from these new requirements amounts that were
deferred/contributed and vested prior to January 1, 2005;
3. Company
has established a new non-qualified deferred compensation plan,
entitled the Allied Waste Industries, Inc. 2005 Executive Deferred
Compensation
Plan ("2005 Plan"), effective December 1, 2004, which is intended
to comply with
Code Section 409A, to accept deferrals/contributions for 2005 and
later calendar
years;
4. Company
has reserved the right to amend the Grandfathered Plan and the
2005 Plan in whole or in part; and
5. Company
intends to amend the Grandfathered Plan to memorialize the
freezing of the Plan effective January 1, 2005, and intends to
amend the
Grandfathered Plan and the 2005 Plan to provide for certain other
changes which
are permitted under the transitional rules issued by the Internal
Revenue
Service in Notice 2005-1.
THEREFORE,
the Company hereby adopts this Amendment as follows:
1
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1.
Effective January 1, 2005, the Grandfathered Plan shall be frozen.
No
new participants shall be admitt
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