Kodak 2004 Annual Report Download - page 176

Exhibits
67
E A S T M A N฀ K OD A K ฀ C O M PA N Y
16.5฀฀No฀Right฀to฀Continued฀Employment฀or฀Grants฀฀Participation฀in฀the฀Plan฀shall฀not฀give฀any฀Employee฀any฀right฀to฀remain฀in฀the฀
employ฀of฀Kodak฀or฀any฀Subsidiary.฀Kodak฀or,฀in฀the฀case฀of฀employment฀with฀a฀Subsidiary,฀the฀Subsidiary,฀reserves฀the฀right฀to฀terminate฀any฀Employee฀at฀
any฀time฀for฀any฀or฀no฀reason.฀Further,฀the฀adoption฀of฀this฀Plan฀shall฀not฀be฀deemed฀to฀give฀any฀Employee฀or฀any฀other฀individual฀any฀right฀to฀be฀selected฀
as฀a฀Participant฀or฀to฀be฀granted฀an฀Award.฀In฀addition,฀no฀Employee฀having฀been฀selected฀for฀an฀Award,฀shall฀have฀at฀any฀time฀the฀right฀to฀receive฀any฀
additional฀Awards.
16.6฀฀Amendment/Termination฀฀The฀Committee฀may฀suspend฀or฀terminate฀the฀Plan฀at฀any฀time฀for฀any฀reason฀with฀or฀without฀prior฀notice.฀
In฀addition,฀the฀Committee฀may,฀from฀time฀to฀time฀for฀any฀reason฀and฀with฀or฀without฀prior฀notice,฀amend฀the฀Plan฀in฀any฀manner,฀but฀may฀not฀without฀
shareholder฀approval฀adopt฀any฀amendment฀which฀would฀require฀the฀vote฀of฀the฀shareholders฀of฀Kodak฀required฀under฀the฀New฀York฀Stock฀Exchange’s฀
shareholder฀approval฀rules.
16.7฀฀Governing฀Law฀฀The฀Plan฀shall฀be฀governed฀by฀and฀construed฀in฀accordance฀with฀the฀laws฀of฀the฀State฀of฀New฀York,฀except฀as฀superseded฀by฀
applicable฀federal฀law,฀without฀giving฀effect฀to฀its฀conflicts฀of฀law฀provisions.
16.8฀฀No฀Right,฀Title฀or฀Interest฀in฀Company฀Assets;฀No฀Rights฀as฀a฀Shareholder฀฀No฀Participant฀shall฀have฀any฀rights฀as฀a฀
shareholder,฀including฀the฀right฀to฀vote,฀as฀a฀result฀of฀participation฀in฀the฀Plan฀until฀the฀date฀of฀issuance฀of฀a฀stock฀certificate฀in฀his฀or฀her฀name฀or฀such฀
other฀evidence฀of฀ownership฀as฀may฀be฀determined฀by฀the฀Committee฀and,฀in฀the฀case฀of฀Restricted฀Stock฀Awards฀such฀rights฀as฀are฀granted฀to฀the฀Partici-
pant฀under฀the฀Plan.฀To฀the฀extent฀any฀person฀acquires฀a฀right฀to฀receive฀payments฀from฀the฀Company฀under฀the฀Plan,฀such฀rights฀shall฀be฀no฀greater฀than฀
the฀rights฀of฀an฀unsecured฀creditor฀of฀the฀Company฀and฀the฀Participant฀shall฀not฀have฀any฀rights฀in฀or฀against฀any฀specific฀assets฀of฀the฀Company.฀All฀of฀the฀
Awards฀granted฀under฀the฀Plan฀shall฀be฀unfunded.
16.9฀฀Section฀16฀of฀the฀Exchange฀Act฀฀In฀order฀to฀avoid฀any฀Exchange฀Act฀violations,฀the฀Committee฀may,฀from฀time฀to฀time,฀impose฀additional฀
restrictions฀upon฀an฀Award,฀including฀but฀not฀limited฀to,฀restrictions฀regarding฀tax฀withholdings.
16.10฀฀No฀Guarantee฀of฀Tax฀Consequences฀฀No฀person฀connected฀with฀the฀Plan฀in฀any฀capacity,฀including,฀but฀not฀limited฀to,฀Kodak฀and฀its฀
Subsidiaries฀and฀their฀directors,฀officers,฀agents฀and฀employees฀makes฀any฀representation,฀commitment฀or฀guarantee฀that฀any฀tax฀treatment,฀including,฀but฀
not฀limited฀to,฀federal,฀state฀and฀local฀income,฀estate฀and฀gift฀tax฀treatment,฀will฀be฀applicable฀with฀respect฀to฀amounts฀deferred฀under฀the฀Plan,฀or฀paid฀to฀
or฀for฀the฀benefit฀of฀a฀Participant฀under฀the฀Plan,฀or฀that฀such฀tax฀treatment฀will฀apply฀to฀or฀be฀available฀to฀a฀Participant฀on฀account฀of฀participation฀in฀the฀
Plan.
16.11฀฀Other฀Benefits฀฀No฀Award฀granted฀under฀the฀Plan฀shall฀be฀considered฀compensation฀for฀purposes฀of฀computing฀benefits฀under฀any฀retirement฀
plan฀of฀the฀Company฀nor฀affect฀any฀benefits฀or฀compensation฀under฀any฀other฀benefit฀or฀compensation฀plan฀of฀the฀Company฀now฀or฀subsequently฀in฀effect.
16.12฀฀Section฀Headings฀฀The฀section฀headings฀contained฀herein฀are฀for฀the฀purpose฀of฀convenience฀only฀and฀are฀not฀intended฀to฀define฀or฀limit฀
the฀contents฀of฀the฀sections.
16.13฀฀Severability;฀Entire฀Agreement฀฀If฀any฀of฀the฀provisions฀of฀this฀Plan฀or฀any฀Award฀Notice฀is฀finally฀held฀to฀be฀invalid,฀illegal฀or฀un-
enforceable฀(whether฀in฀whole฀or฀in฀part),฀such฀provision฀shall฀be฀deemed฀modified฀to฀the฀extent,฀but฀only฀to฀the฀extent,฀of฀such฀invalidity,฀illegality฀or฀
unenforceability฀and฀the฀remaining฀provisions฀shall฀not฀be฀affected฀thereby;฀provided,฀that฀if฀any฀of฀such฀provisions฀is฀finally฀held฀to฀be฀invalid,฀illegal฀or฀
unenforceable฀because฀it฀exceeds฀the฀maximum฀scope฀determined฀to฀be฀acceptable฀to฀permit฀such฀provision฀to฀be฀enforceable,฀such฀provision฀shall฀be฀
deemed฀to฀be฀modified฀to฀the฀minimum฀extent฀necessary฀to฀modify฀such฀scope฀in฀order฀to฀make฀such฀provision฀enforceable฀hereunder.฀The฀Plan,฀any฀
administrative฀guidelines฀or฀sub-plans฀issued฀pursuant฀to฀Section฀4.2(i),฀and฀any฀Award฀Notices฀contain฀the฀entire฀agreement฀of฀the฀parties฀with฀respect฀
to฀the฀subject฀matter฀thereof฀and฀supersede฀all฀prior฀agreements,฀promises,฀covenants,฀arrangements,฀communications,฀representations฀and฀warranties฀
between฀them,฀whether฀written฀or฀oral฀with฀respect฀to฀the฀subject฀matter฀thereof.
16.14฀฀No฀Third฀Party฀Beneficiaries฀฀Except฀as฀expressly฀provided฀therein,฀neither฀the฀Plan฀nor฀any฀Award฀Notice฀shall฀confer฀on฀any฀person฀
other฀than฀the฀Company฀and฀the฀grantee฀of฀any฀Award฀any฀rights฀or฀remedies฀thereunder.
16.15฀฀Successors฀and฀Assigns฀฀The฀terms฀of฀this฀Plan฀shall฀be฀binding฀upon฀and฀inure฀to฀the฀benefit฀of฀the฀Company฀and฀its฀successors฀and฀
assigns.
16.16฀฀Waiver฀of฀Claims฀฀Each฀Participant฀recognizes฀and฀agrees฀that฀prior฀to฀being฀selected฀by฀the฀Committee฀to฀receive฀an฀Award฀he฀or฀she฀has฀
no฀right฀to฀any฀benefits฀hereunder.฀Accordingly,฀in฀consideration฀of฀the฀Participant’s฀receipt฀of฀any฀Award฀hereunder,฀he฀or฀she฀expressly฀waives฀any฀right฀
to฀contest฀the฀amount฀of฀any฀Award,฀the฀terms฀of฀any฀Award฀Notice,฀any฀determination,฀action฀or฀omission฀hereunder฀or฀under฀any฀Award฀Notice฀by฀the฀
Committee,฀the฀Company฀or฀the฀Board,฀or฀any฀amendment฀to฀the฀Plan฀or฀any฀Award฀Notice฀(other฀than฀an฀amendment฀to฀this฀Plan฀or฀an฀Award฀Agreement฀
to฀which฀his฀or฀her฀consent฀is฀expressly฀required฀by฀the฀express฀terms฀of฀the฀Plan฀or฀an฀Award฀Notice).฀