Kraft 2010 Annual Report Download - page 134

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ARTICLE V.
ADMINISTRATION
Section 5.1 – Committee. For LTIP Awards that are intended to qualify as Qualified Performance-Based Compensation, the Committee shall
consist solely of two or more Directors appointed by and holding office at the pleasure of the Board, each of whom constitutes an "outside director" within the
meaning of Section 162(m)(4)(C) of the Code and the Treasury Regulations thereunder. In the case of LTIP Awards that are not intended to constitute
Qualified Performance-Based Compensation, the Committee may consist of two or more Directors appointed by and holding office at the pleasure of the
Board; provided, that, to the extent permitted by applicable law, the Committee may also consist of one or more officers of the Company in the case of LTIP
Awards not intended to constitute Qualified Performance-Based Compensation granted to Eligible Employees who are not (i) subject to Section 16 of the
Exchange Act of 1934, as amended, or (ii) officers of the Company who have been appointed to serve on the Committee as contemplated hereunder.
Section 5.2 – Duties and Powers of Committee. It shall be the duty of the Committee to conduct the general administration of the LTI Plan in
accordance with its provisions. The Committee shall have the power to interpret the LTI Plan, and to adopt such rules for the administration, interpretation
and application of the LTI Plan as are consistent therewith and to interpret, amend or revoke any such rules. In its absolute discretion, the Board may at any
time and from time to time exercise any and all rights and duties of the Committee under the LTI Plan except with respect to matters which under
Section 162(m) of the Code are required to be determined in the sole and absolute discretion of the Committee.
Section 5.3 – Determinations of the Committee or the Board. All actions taken and all interpretations and determinations made by the Committee
or the Board shall be final and binding upon all Participants, the Company and all other interested persons. No members (or former members) of the
Committee or the Board shall be personally liable for any action, inaction, determination or interpretation made in good faith with respect to the LTI Plan or
any LTIP Award, and all members of the Committee and the Board shall be fully protected by the Company in respect of any such action, determination or
interpretation.
ARTICLE VI.
OTHER PROVISIONS
Section 6.1 – Amendment, Suspension or Termination of the LTI Plan. This LTI Plan may be wholly or partially amended or otherwise modified,
suspended or terminated at any time or from time to time by the Board or the Committee. However, with respect to LTIP Awards granted under the LTI Plan
which the Committee determines should constitute Qualified Performance-Based Compensation, no action of the Board or the Committee may modify the
Performance Goals (or adjustments) applicable to any outstanding LTIP Award, to the extent such modification would cause the LTIP Award to fail to
constitute Qualified Performance-Based Compensation.
9