Northern Trust 10-K 2008
Documents found in this filing:
NORTHERN TRUST CORPORATION
1997 DEFERRED COMPENSATION PLAN FOR
AS AMENDED AND RESTATED
Northern Trust Corporation, a Delaware corporation (the Corporation) maintains the Northern Trust Corporation 1997 Deferred Compensation Plan for Non-Employee Directors, as previously amended April 15, 1997 and effective as of January 21, 2003 (the Plan).
In exercise of the amending power reserved to the Corporation under Section 6(a) of the Plan, and pursuant to the authority delegated to the undersigned officer by resolutions of the Board of Directors of the Corporation dated November 13, 2007, the Corporation now hereby further amends and restates the Plan, generally effective January 1, 2008 (with such other effective dates as are noted herein), to comply with Section 409A of the Internal Revenue Code of 1986, as amended, (the Code) and regulations and guidance thereunder.
In 1997, the Plan also permitted a Non-Employee Director to elect to defer the annual stock grant under the Northern Trust Corporation 1997 Stock Plan for Non-Employee Directors, in accordance with the terms of the Plan in effect at that time.
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The shares of Common Stock representing a stock grant under the Northern Trust Corporation 1997 Stock Plan for Non-Employee Directors which were deferred by a Non-Employee Director pursuant to Section 3 were credited to a Stock Unit Account and converted into stock units as of the date of the annual meeting of stockholders on which the stock was granted.
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IN WITNESS WHEREOF, Northern Trust Corporation has caused this amendment and restatement of the Plan to be executed on its behalf by its duly authorized officer, this 14th day of December, 2007, effective January 1, 2008 (or as of such other dates as are noted herein).
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