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This excerpt taken from the MDT 10-Q filed Mar 4, 2008. GENERAL |
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1.1. |
This Amendment (the “Amendment”) shall apply only to Participants who are residents of the State of Israel or those who are deemed to be residents of the State of Israel for the payment of tax. The provisions specified hereunder shall form an integral part of the 2003 Long-Term Incentive Plan, as amended (the “Plan”), of the Company as defined in the Plan. |
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1.2. |
This Amendment is effective with respect to Options, Stock Appreciation Rights, Shares of Restricted Stock, Other Stock-Based Awards or Other Cash-Based Awards; to be granted according to the resolution of the Committee, as such term is defined in the Plan and shall comply with Amendment no. 147 of the Israeli Tax Ordinance. |
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1.3. |
This Amendment is to be read as a continuation of the Plan and only refers to Awards granted to Israeli Participants so that they comply with the requirements set by the Israeli law in general, and in particular with the provisions of Section 102 of the Israeli Income Tax Ordinance (New Version), 1961 (the “Ordinance”), and any regulations, rules, orders or procedures promulgated thereunder, as may be amended or replaced from time to time. For the avoidance of doubt, this Amendment does not add to or modify the Plan in respect of any other category of Participants. |
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1.4. |
The Plan and this Amendment are complementary to each other and shall be deemed one. In any case of contradiction, whether explicit or implied, between the provisions of this Amendment and the Plan, the provisions set out in this Amendment shall prevail with respect to Awards granted to Israeli Participants. |
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1.5. |
Any capitalized terms not specifically defined in this Amendment shall be construed according to the interpretation given to them in the Plan. |
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2. |
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