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Exhibit 99.1 Amendment No. 1 to the Albany International Corp. 2003 Restricted Stock Unit Plan

Restricted Stock Units Agreement

Exhibit 99.1 Amendment No. 1 to the Albany International Corp. 2003 Restricted Stock Unit Plan | Document Parties: ALBANY INTERNATIONAL CORP /DE/ You are currently viewing:
This Restricted Stock Units Agreement involves

ALBANY INTERNATIONAL CORP /DE/

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Title: Exhibit 99.1 Amendment No. 1 to the Albany International Corp. 2003 Restricted Stock Unit Plan
Date: 12/6/2005
Industry: Paper and Paper Products     Sector: Basic Materials

Exhibit 99.1 Amendment No. 1 to the Albany International Corp. 2003 Restricted Stock Unit Plan, Parties: albany international corp /de/
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                                  Exhibit 99.1

 

                             Amendment No. 1 to the

           Albany International Corp. 2003 Restricted Stock Unit Plan

 

      WHEREAS, Albany International Corp. (the "Company") maintains the Albany

International Corp. 2003 Restricted Stock Unit Plan (the "Plan");

 

      WHEREAS, the Board of Directors of the Company has designated authority to

the Compensation Committee (the "Committee") to administer the Plan;

 

      WHEREAS, the Committee has the authority pursuant to Sections 3.2 and 11.8

of the Plan to amend the Plan;

 

      WHEREAS, in light of Section 409A of the Internal Revenue Code of 1986,

the Committee has decided to cancel any valid deferral elections made pursuant

to Section 6.2 of the Plan on or before December 31, 2005 in accordance with Q&A

20 of Notice 2005-1 "Guidance Under ss.409A of the Internal Revenue Code" issued

by the Treasury Department; and

 

      WHE


 
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