XM Radio 2008 Annual Report Download - page 185
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(d) Notwithstanding any provision of this Plan and grants hereunder to the contrary, in light of the
uncertainty with respect to the proper application of Section 409A of the Code, the Company shall amend this
Plan and grants hereunder as the Company deems necessary or desirable to avoid the imposition of taxes or
penalties under Section 409A of the Code. In any case, a Participant shall be solely responsible and liable for
the satisfaction of all taxes and penalties that may be imposed on a Participant or for a Participant’s account in
connection with this Plan and grants hereunder (including any taxes and penalties under Section 409A of the
Code), and neither the Company nor any of its Affiliates shall have any obligation to indemnify or otherwise
hold a Participant harmless from any or all of such taxes or penalties.
SECTION 16. Term of the Plan.
(a) Effective Date. The Plan shall be effective as of the date of its approval by the Board (the “Effective
Date”), subject to approval of the Plan by the stockholders of the Company. No grants will be made under the
Existing Plans on or after the date the Plan is first approved by the stockholders of the Company, except that
outstanding awards granted under the Existing Plans will continue unaffected following the Effective Date.
(b) Expiration Date. No grant will be made under this Plan more than ten years after the Effective
Date, but all grants made on or prior to such date will continue in effect thereafter subject to the terms thereof
and of this Plan.
C-13