Avis 2008 Annual Report Download - page 161

ARTICLE I – SPONSORSHIP AND PURPOSE OF PLAN
Avis Budget Group, Inc. (the “Company”) a corporation organized under the laws of the State of Delaware, sponsors the Avis Budget
Group, Inc. Deferred Compensation Plan (the “Plan”), a non-qualified deferred compensation plan for the benefit of Participants and
Beneficiaries (as defined herein). This Plan shall generally be effective October 31, 1999; however, the Plan will be effective as to each
individual upon becoming a Participant.
Effective as of January 1, 2008, the Plan was amended and restated to comply with the provisions of Section 409A of the Code and the
regulations thereunder, and to conform with certain other administrative or operational procedures.
Effective as of November 1, 2008, the Plan was further amended to merge the Avis Rent A Car System, LLC Deferred Compensation
Plan (referred to as the “Old ARAC Plan”) into this Plan and to conform with certain other administrative or operational procedures.
Except where specifically noted, the provisions of this document will apply to both the Plan and the Old ARAC Plan.
The Plan is intended to be an unfunded plan maintained primarily for the purpose of enabling certain employees to defer receipt of
designated percentages or amounts of their Compensation and to provide a means for certain other deferrals of Compensation.
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1.1
Sponsorship
1.2
Purpose of Plan