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TRAILER BRIDGE, INC. AMENDMENT TO NON-EMPLOYEE DIRECTOR STOCK INCENTIVE PLAN

Executive Compensation Plan Agreement

TRAILER BRIDGE, INC. AMENDMENT TO NON-EMPLOYEE DIRECTOR STOCK INCENTIVE PLAN | Document Parties: TRAILER BRIDGE, INC You are currently viewing:
This Executive Compensation Plan Agreement involves

TRAILER BRIDGE, INC

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Title: TRAILER BRIDGE, INC. AMENDMENT TO NON-EMPLOYEE DIRECTOR STOCK INCENTIVE PLAN
Date: 3/31/2009
Industry: Water Transportation     Sector: Transportation

TRAILER BRIDGE, INC. AMENDMENT TO NON-EMPLOYEE DIRECTOR STOCK INCENTIVE PLAN, Parties: trailer bridge  inc
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Exhibit 10.11.6

TRAILER BRIDGE, INC.

AMENDMENT

TO

NON-EMPLOYEE DIRECTOR

STOCK INCENTIVE PLAN

This Amendment to the Trailer Bridge, Inc. Non-Employee Director Stock Incentive Plan (“Plan”) has been adopted by the Board of Directors of Trailer Bridge, Inc. in order to conform the Plan to the requirements of Section 409A of the Internal Revenue Code of 1986, as amended.

The Plan is hereby amended, effective January 1, 2009, as follows:

1. The definition of the term “Fair Market Value” is amended in its entirety to provide as follows:

“Fair Market Value” means, with respect to a Share, for purposes of determining the minimum exercise price of an Option on the Grant Date or otherwise, (i) if the Shares are readily tradable on an established securities market, the arithmetic mean of the closing prices of a Share on such market on the ten business days immediately prior to the


 
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