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BearingPoint, Inc. Performance Cash
Award Agreement
In
accordance with the Sections 10 and 17 of the BearingPoint,
Inc. Performance Cash Award Agreement (the
“Agreement”), the Compensation Committee of the Board
of Directors of BearingPoint, Inc. hereby amends the Agreement in
order to comply with the requirements of Section 409A of the
Internal Revenue Code of 1986, as amended and related regulations
or Treasury pronouncements (collectively,
“Section 409A”). This amendment shall apply to all
previously awarded and outstanding Performance Cash Awards which
amendment shall be incorporated as “Exhibit A” to
the Agreement (the “Amendment”) and shall become
effective upon the close of business on December 31,
2008.
1. Section 4(a)
of the Agreement shall be replaced with the following
sentence:
Payment of
Cash. Following a determination by the Committee that the
Performance Measures were satisfied during one or more fiscal
years, the Company shall pay to the Award Recipient, within 90 days
of December 31, 2009 (the “Settlement Date”), cash
equal to the percentage of the Cash Award that has
vested.
2. Section 5(b)(ii)
shall be replaced with the following paragraph:
Upon the Award
Recipient’s termination by reason of Disability, Retirement
or Death, the Award Recipient shall vest in a pro rata portion of
the Cash Award. The pro rata portion of the Cash Award shall be
determined in the same manner as provided in Section 5(b)(i)
above. Amounts vested as a result of Retirement shall be paid on
the Settlement Date. Amounts vested due to Death shall be paid
within 30 days of the Committee’s determination that the
Performance Measures were achieved for the year of the Award
Recipient’s Death, but in no event later than 90 days
following the year of the Award Recipient’s Death. Amounts
vested due to Award Re
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