50 of the Top 250 law firms use our Products every day
SPECIAL TERMINATION
AGREEMENT
BearingPoint,
Inc. (the “Company”) and certain employees (the
“Executives”) have entered into individual Special
Termination Agreements (the “Agreements”), pursuant to
which the Company has agreed to make severance payments in the
event of the termination of the Executive’s employment as a
result of a change in control of the Company. The Agreements
provide that the Company has the right to amend the provisions of
the Agreements in order to avoid the imposition of the additional
tax required by Section 409A of the Internal Revenue Code of
1986, as amended. The Company has determined that it is in the best
interest of the Company and Executive to provide that the benefits
payable under the Agreements shall satisfy the requirements of
Section 409A. The Company therefore amends each Agreement,
effective as of December 31, 2008, as follows:
|
1.
|
|
The
introductory clause of Section 3(a) is deleted and is replaced by
the following:
|
The Company
shall provide the Executive, within 10 business days following the
applicable Termination Date (but in any event by March 15 of
the year following such Termination Date), Severance Compensation
in lieu of compensation to the Executive for periods subsequent to
the Termination Date, but without affecting any other rights of the
Executive at law or in equity, if any of the following events
occur:
|
2.
|
|
Section 3(a)(ii) of the
Agreement is amended by adding the foll
|
|
