NetSpend 2011 Annual Report Download - page 153

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thereunder shall be final and conclusive and binding upon all persons having any interest in the Plan.
ARTICLE X.
Amendment and Termination
10.1
Amendment and Termination. The Company may at any time and from time to time amend the Plan or may terminate the Plan as
provided in this Article X. Each Participating Employer may also terminate its participation in the Plan.
10.2
Amendments. The Company, by action taken by its Compensation Committee, may amend the Plan at any time and for any reason,
provided that any such amendment shall not reduce the vested Account Balances of any Participant accrued as of the date of any such
amendment or restatement (as if the Participant had incurred a voluntary Separation from Service on such date) or reduce any rights of
a Participant under the Plan or other Plan features with respect to Deferrals made prior to the date of any such amendment or
restatement without the consent of the Participant. Notwithstanding the foregoing, a Participant’s consent shall not be required if the
Committee determines in its sole discretion that such amendment is required or advisable in order for the Company or the Plan to
satisfy any applicable law or regulation (including, without limitation, Section 409A of the Code), stock exchange rule, over-the-
counter market rule, or to meet the requirements of any intended accounting or tax treatment, so long as the adverse effect on the
Participant is not material. The Compensation Committee may delegate to the Plan Committee the authority to amend the Plan
without the consent of the Compensation Committee for the purpose of: (i) conforming the Plan to the requirements of law; (ii)
facilitating the administration of the Plan; (iii) clarifying provisions based on the Committee’s interpretation of the document; and (iv)
making such other amendments as the Compensation Committee may authorize.
10.3
Termination. The Company, by action taken by its Board of Directors, may terminate the Plan and pay Participants and Beneficiaries
their Account Balances in a single lump sum at any time, to the extent and in accordance with Treas. Reg. Section 1.409A-3(j)(4)(ix).
If a Participating Employer terminates its participation in the Plan, the benefits of affected Employees shall be paid at the time
provided in Article VI. For purposes of clarification, upon a Change in Control, this Plan may be terminated pursuant to this Section
10.3.
10.4
Accounts Taxable Under Code Section 409A. The Plan is intended to constitute a plan of deferred compensation that meets the
requirements for deferral of income taxation under Code Section 409A. The Committee, pursuant to its authority to interpret the Plan,
may sever from the Plan or any Compensation Deferral Agreement any provision or exercise of a right that otherwise would result in a
violation of Code Section 409A. Neither the Company nor any other Participating Employer shall have any liability whatsoever for or
in respect of any decision to take action to attempt to comply with Section 409A of the Code, any omission to take such action or for
the failure of any such action taken by the Company to so comply.
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