Exhibit 10.9
AMENDMENT NO. 1
to the
NIKE, INC. DEFERRED COMPENSATION
PLAN
(June 1, 2004 Restatement)
NIKE, Inc. (the
“Company”) currently maintains two versions of its
Deferred Compensation Plan: the Deferred Compensation Plan (June 1,
2004 Restatement) applicable to amounts deferred prior to
January 1, 2005 (the “Grandfathered Plan”), and
the Deferred Compensation Plan as subsequently restated and
applicable to amounts deferred after December 31, 2004 (the
“Ongoing Plan”). This Amendment No. 1 amends the
Grandfathered Plan and has no effect on the Ongoing
Plan.
This Amendment No. 1 has been
adopted by the Retirement Committee of the Company pursuant to
authority provided for in Section 10.4 of the Grandfathered
Plan, and is effective as of January 1, 2008. The Retirement
Committee has determined that the following amendments to the
Grandfathered Plan are not a “material modification” of
the Grandfathered Plan as that term is used in regulations under
Section 409A of the Internal Revenue Code and, therefore, that
Section 409A of Internal Revenue Code continues to be
inapplicable to amounts deferred under the Grandfathered
Plan.
The amendments to the Grandfathered
Plan approved by the Retirement Committee are as
follows:
1. Section 1.2,
Definitions of the Grandfathered Plan is amended as
follows:
(a) by replacing the definition of
“Retirement” in Section 1.2(hh) with the
following:
(hh) “ Retirement
” means the Participant’s termination of employment if
at the time thereof the Participant has attained at least age 35
and has completed at least sixty (60) whole months of
Service.
(b) by replacing subsection
(4) of the definition of “Valuation Date” in
Section 1.2(mm) with the following:
(4) For purposes of calculating the
dollar amount of a quarterly installment payment, the Valuation
Date means a day selected by the Company in its sole discretion for
administrative practicality that falls within 30 days prior to the
date of the quarterly payment.
2. Section 7.1, Distribution
of Deferred Compensation – Termination of Service of the
Gr
