This excerpt taken from the ODP DEF 14A filed Mar 13, 2008.
Federal Tax Consequences
Under the Code, a grant of an award under the New Plan would have no federal income tax consequences. The payment of the award would be taxable to a participant as ordinary income in the year paid. The payment of an award, however, may be deferred by the participant if such deferral is permitted under a deferral plan or arrangement approved by us. We intend for all payments under the New Plan to be exempt from the rules for deferred compensation that are set forth in Section 409A of the Code or for these payments to comply with its requirements. Amounts taxable to participants under the New Plan would be deductible by us as compensation.
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