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AMENDMENT 2008-1
TO THE
NORDSTROM EXECUTIVE DEFERRED COMPENSATION PLAN
(2007 Restatement)
The Nordstrom
Executive Deferred Compensation Plan (2007 Restatement)
(“Plan”) is hereby amended to reflect administrative
changes adopted (1) to simplify administration of deferral
elections after a Plan participant receives a hardship distribution
under the Nordstrom 401(k) Plan & Profit Sharing, and
(2) to establish a hierarchy of unforeseeable financial
emergency withdrawals that complies with Section 409A of the
Internal Revenue Code.
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1.
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Section 3.7 Applicability of
Deferral Agreement is replaced with the following:
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“3.7 Applicability of
Deferral Agreement .
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(a) General
Rule . Except as provided in this Section 3.7, a Deferral
Agreement shall be irrevocable and remains in effect for the entire
Plan Year to which it applies. A Participant must file a new
Deferral Agreement to continue deferrals in any subsequent Plan
Year. The terms of any Deferral Agreement may, but need not be,
similar to the terms of any prior Deferral Agreement.
(b)
Exceptions to Irrevocability .
(1)
Financial Hardship . A Participant’s Deferral
Agreement shall be automatically canceled and deferrals shall cease
for the remainder of the Plan Year if the Participant:
(A) receives a distribution due to an
unforeseeable f
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