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AMENDMENT NO. 1 TO THE APPLIED MATERIALS, INC. 2005 EXECUTIVE DEFERRED COMPENSATION PLAN

Executive Compensation Plan Agreement

AMENDMENT NO. 1 TO THE APPLIED MATERIALS, INC. 2005 EXECUTIVE DEFERRED COMPENSATION PLAN | Document Parties: APPLIED MATERIALS, INC You are currently viewing:
This Executive Compensation Plan Agreement involves

APPLIED MATERIALS, INC

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Title: AMENDMENT NO. 1 TO THE APPLIED MATERIALS, INC. 2005 EXECUTIVE DEFERRED COMPENSATION PLAN
Date: 12/12/2008
Industry: Semiconductors     Sector: Technology

AMENDMENT NO. 1 TO THE APPLIED MATERIALS, INC. 2005 EXECUTIVE DEFERRED COMPENSATION PLAN, Parties: applied materials  inc
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Exhibit 10.51

AMENDMENT NO. 1 TO THE
APPLIED MATERIALS, INC.
2005 EXECUTIVE DEFERRED COMPENSATION PLAN

     APPLIED MATERIALS, INC., having adopted the Applied Materials, Inc. 2005 Executive Deferred Compensation Plan (the “Plan”) effective as of January 1, 2005, and having amended and restated the Plan effective as of July 11, 2007, hereby amends the restated Plan, effective as of August 26, 2008, as follows:

     1. Section 1.8 is amended in its entirety to read as follows:

     1.8 “Compensation” means an Eligible Employee’s Base Salary, Eligible Bonus and/or Sign-On Bonus. An Eligible Employee’s Compensation does not include any other type of remuneration.

     2. Section 1.24 is hereby renumbered as Section 1.24A and a new Section 1.24B is added immediately thereafter to read as follows:

     1.24B “Sign-On Bonus” means a cash-based bonus award (if any) that is payable to an Eligible Employee pursuant to the terms and conditions of the Employer’s offer of employment, to induce him or her to become an employee of the Employer, or any similar item of compensation, which the Committee designates as a “Sign-On Bonus” for purposes of the Plan.

     3. Section 2.1.2(a) is amended by adding the following subsection (iv) immediately after subsection (iii) thereof to read as follows:

          (iv) On or After August 26, 2008 . Notwithstanding the foregoing provisions of this Section 2.1.2, each individual who first becomes an Eligible Employee during a Plan Year due to his or her hire by an Employer (a “Newly-Hired Eligible Employee”) will be eligible to participate in the Plan effective as of the date of such hire (“Hire Date”). A Newly-Hired Eligible Employee may elect to become a Participant in the Plan by electing, within thirty (30) days of his or her Hire Date, to make Compensation Deferrals under the Plan. However, no such election may be made if the Newly-Hired Eligible Employee was previously eligible to participate in another plan that is required to be aggregated with this Plan under section 409A of the Code.

 



 
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