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Exhibit
10.17.1
FIRST AMENDMENT
TO THE
SAKS INCORPORATED DEFERRED
COMPENSATION PLAN
(as amended and restated
effective May 1, 2002)
The Saks Incorporated
Deferred Compensation Plan (the “Plan”) is hereby
amended, effective April 1, 2004, as follows:
1. Section 2.01 is amended by
adding the following at the end of the Section:
“For members of the
Corporation’s Board of Directors, the term Basic Compensation
means retainers and attendance fees paid by the Corporation to the
Director for service as a Director.”
2. Section 2.06 is amended by
adding the following at the end of the Section:
“For members of the
Corporation’s Board of Directors, the term Compensation means
retainers and attendance fees paid by the Corporation to the
Director for service as a Director.”
3. Section 2.16 is amended by
adding the following at the end of the Section:
“The term Employee
shall also include members of the Corporation’s Board of
Directors.”
4. The first paragraph of
Section 3.01 is amended by adding the following at the end of
the paragraph:
“Effective
April 1, 2004, members of the Corporation’s Board of
Directors shall be eligible to participate in the
plan.”
5. Subsection 4.01(a)(2) is amended to
read as follows:
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“(2) |
In-service Deferral Buckets - used to account for amounts to be
distributed at times selected by the Participant, without regard to
the Participant’s retirement date. A Participant may elect to
maintain up to three in-service deferral
buckets.” |
6. Subsection 4.01(b) is amended to read
as follows:
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“(b) |
Stock Grant Account. In addition, if applicable, the
Committee shall establish a separate book reserve account (the
Stock Grant Account as defined in Section 2.25 hereof) for the
purpose of determining deferred co |
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