This excerpt taken from the NKE 10-K filed Jul 28, 2008.
Year: The fiscal year of the Company.STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%">Section 2. Objectives.
The objectives of the Plan are to:STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%">(a) recognize and reward on a long-term basis selected employees of the Company and its subsidiaries for their contributions to the overall profitability
and performance of the Company; and
(b) qualify compensation under the Plan as performance-based compensation within the
Section 3. Administration.
The Plan will be administered by the Committee. Subject to the provisions of the Plan, the Committee will have full authority to interpret the Plan,
SIZE="2">Target Awards may be granted under the Plan only to individuals selected by the Committee who are employees of the Company or a subsidiary of the Company.
FACE="Times New Roman" SIZE="2">Section 5. Determination of the Performance Targets and Awards.
(a) Performance Targets and
(b) Other Terms and Restrictions. The Committee may establish other restrictions to payment under a Target Award, such as a
(c) Maximum Awards. The Committee shall
FACE="Times New Roman" SIZE="2">At the conclusion of the Performance Period, in accordance with Section 162(m)(4)(C)(iii) of the Code, prior to the payment of any award under the Plan, the Committee shall certify in the Committees
FACE="Times New Roman" SIZE="2">Section 7. Termination of Employment.
The terms of a Target Award may provide that in the
Section 8. Miscellaneous.STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%">(a) Amendment and Termination of the Plan. The Committee with the approval of the Board may amend, modify or terminate the Plan at any time and
from time to time except insofar as approval by the Companys shareholders is required pursuant to Section 162(m)(4)(C)(ii) of the Code. The Plan shall terminate at the first shareholder meeting that occurs in the fifth year after the
Companys shareholders approve the Plan. Notwithstanding the foregoing, no such amendment, modification or termination shall affect the payment of Target Awards previously established. STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%">(b) No Assignment. Except as otherwise required by applicable law, no interest, benefit, payment, claim or right of any participant under the plan
shall be subject in any manner to any claims of any creditor of any participant or beneficiary, nor to alienation by anticipation, sale, transfer, assignment, bankruptcy, pledge, attachment, charge or encumbrance of any kind, and any attempt to take
any such action shall be null and void.
(c) No Rights to Employment. Nothing contained in the Plan shall give any person the right
whom any amounts would be payable in the event of a participants death.
(e) Plan Unfunded. The entire cost of the Plan shall
State of Oregon.