Document:

exv10w124

 

Exhibit 10.124

FIRST AMENDMENT TO THE

AMENDED AND RESTATED

ALLIED WASTE INDUSTRIES, INC.

1993 INCENTIVE STOCK PLAN

(Originally Adopted on February 23, 1993;

Most Recent Amendment and Restatement

Effective February 5, 2004;

This Amendment Effective January 1, 2008)

     THIS AMENDMENT, made and entered into on October 24, 2007, by Allied Waste Industries, Inc.
(“Employer”).

R E C I T A L S:

     1. The Employer maintains the Amended and Restated Allied Waste Industries, Inc. 1993
Incentive Stock Plan, as most recently amended and restated on February 5, 2004 (“Plan”);

     2. The Employer has reserved the right to amend the Plan in whole or in part; and

     3. The Employer intends to amend the Plan.

     THEREFORE, the Employer hereby adopts this Amendment as follows:

     1. Section 22 of the Plan is hereby eliminated in its entirety.

     2. The Effective Date of this Amendment shall be January 1, 2008.

     3. Except as amended, all of the terms and conditions of the Plan shall remain in full force
and effect.

	 	 	 	 	 
	 	 	ALLIED WASTE INDUSTRIES, INC.
	 
	 	 	 	 
	 

	 	By	 	 
	 

	 	 	 	 
	 
	 

	 	Title	 	 
	 

	 	 	 	 

“Employer”exv10w125

 

Exhibit 10.125

FIRST AMENDMENT TO THE

AMENDED AND RESTATED

ALLIED WASTE INDUSTRIES, INC.

1994 INCENTIVE STOCK PLAN

(Originally Adopted Effective May 1, 1996;

Most Recent Amendment and Restatement

Effective February 5, 2004;

This Amendment Effective January 1, 2008)

     THIS AMENDMENT, made and entered into on October 24, 2007, by Allied Waste Industries, Inc.
(“Employer”).

R E C I T A L S:

     1. The Employer maintains the Amended and Restated Allied Waste Industries, Inc. 1994
Incentive Stock Plan, as most recently amended and restated on February 5, 2004 (“Plan”);

     2. The Employer has reserved the right to amend the Plan in whole or in part; and

     3. The Employer intends to amend the Plan.

     THEREFORE, the Employer hereby adopts this Amendment as follows:

     1. Section 22 of the Plan is hereby eliminated in its entirety.

     2. The Effective Date of this Amendment shall be January 1, 2008.

     3. Except as amended, all of the terms and conditions of the Plan shall remain in full force
and effect.

	 	 	 	 	 
	 	 	ALLIED WASTE INDUSTRIES, INC.
	 
	 	 	 	 
	 

	 	By	 	 
	 

	 	 	 	 
	 
	 

	 	Title	 	 
	 

	 	 	 	 

“Employer”exv10w126

 

Exhibit 10.126

ALLIED WASTE INDUSTRIES, INC.

2005
EXECUTIVE DEFERRED
 COMPENSATION PLAN

As Amended and Restated

Effective January 1, 2008

 

 

Table of Contents

	 	 	 	 	 
	 	 	Page	 
	ARTICLE I PURPOSE; EFFECTIVE DATE
	 	 	1	 
	1.1 Purpose
	 	 	1	 
	1.2 Effective Date
	 	 	1	 
	ARTICLE II DEFINITIONS
	 	 	1	 
	2.1 Account
	 	 	1	 
	2.2 Adjustment Rate
	 	 	1	 
	2.3 Base Salary
	 	 	1	 
	2.4 Beneficiary
	 	 	1	 
	2.5 Board
	 	 	1	 
	2.6 Bonus
	 	 	1	 
	2.7 Change of Control
	 	 	1	 
	2.8 Code
	 	 	2	 
	2.9 Committee
	 	 	2	 
	2.10 Company
	 	 	2	 
	2.11 Compensation
	 	 	2	 
	2.12 Deferred Stock Units
	 	 	2	 
	2.13 Deferral Commitment
	 	 	2	 
	2.14 Deferral Period
	 	 	2	 
	2.15 Discretionary Contribution
	 	 	2	 
	2.16 Employer
	 	 	2	 
	2.17 Identification Date
	 	 	2	 
	2.18 Key Employee
	 	 	2	 
	2.19 LTIP Award
	 	 	2	 
	2.20 Participant
	 	 	2	 
	2.21 Participation Agreement
	 	 	3	 
	2.22 Plan
	 	 	3	 
	2.23 Plan Year
	 	 	3	 
	2.24 Restricted Stock Units
	 	 	3	 
	2.25 Termination of Service
	 	 	3	 
	2.26 Unforeseeable Emergency
	 	 	3	 
	2.27 Valuation Date
	 	 	3	 
	2.28 Valuation Period
	 	 	3	 
	ARTICLE III PARTICIPATION AND DEFERRAL COMMITMENTS
	 	 	4	 
	3.1 Eligibility and Participation
	 	 	4	 
	3.2 Form of Deferral
	 	 	4	 
	3.3 Limitations on Deferral Commitments
	 	 	5	 
	3.4 Modification or Cancellation of Deferral Commitment
	 	 	6	 
	3.5 Change in Employment Status
	 	 	6	 
	ARTICLE IV DEFERRED COMPENSATION ACCOUNT
	 	 	7	 
	4.1 Account
	 	 	7	 
	4.2 Timing of Credits: Withholding
	 	 	7	 
	4.3 Discretionary Contributions
	 	 	7	 
	4.4 Determination of Account
	 	 	7	 
	4.5 Vesting of Account
	 	 	7	 

ii

 

	 	 	 	 	 
	 	 	Page	 
	4.6 Statement of Account
	 	 	7	 
	ARTICLE V ADJUSTMENT RATE
	 	 	8	 
	5.1 Selection of Adjustment Rate
	 	 	8	 
	5.2 Rate of Return
	 	 	8	 
	5.3 Rate for Deferred Stock Units
	 	 	8	 
	ARTICLE VI DISTRIBUTIONS
	 	 	8	 
	6.1 Distributions on Elected Payment Dates
	 	 	8	 
	6.2 Distributions for Unforeseeble Emergencies
	 	 	10	 
	6.3 Distributions Upon Death
	 	 	10	 
	6.4 Withholding for Taxes
	 	 	10	 
	6.5 Valuation and Settlement
	 	 	10	 
	6.6 Payment to Guardian
	 	 	10	 
	6.7 Receipt on Release
	 	 	11	 
	6.8 Inability to Locate Participant or Beneficiary
	 	 	11	 
	ARTICLE VII BENEFICIARY DESIGNATION
	 	 	11	 
	7.1 Beneficiary Designation
	 	 	11	 
	7.2 Changing Beneficiary
	 	 	11	 
	7.3 Community Property
	 	 	11	 
	7.4 No Beneficiary Designation
	 	 	12	 
	ARTICLE VIII ADMINISTRATION
	 	 	12	 
	8.1 Committee; Duties
	 	 	12	 
	8.2 Agents
	 	 	12	 
	8.3 Binding Effect of Decisions
	 	 	12	 
	8.4 Indemnity of Committee
	 	 	13	 
	8.5 Compensation and Expenses
	 	 	13	 
	ARTICLE IX CLAIMS PROCEDURE
	 	 	13	 
	9.1 Claim
	 	 	13	 
	9.2 Review of Claim
	 	 	13	 
	9.3 Notice of Denial of Claim
	 	 	13	 
	9.4 Reconsideration of Denied Claim
	 	 	14	 
	9.5 Employer to Supply Information
	 	 	14	 
	ARTICLE X AMENDMENT AND TERMINATION OF PLAN
	 	 	14	 
	10.1 Amendment
	 	 	14	 
	10.2 Employer’s Right to Terminate
	 	 	15	 
	ARTICLE XI MISCELLANEOUS
	 	 	15	 
	11.1 Unfunded Plan
	 	 	15	 
	11.2 Company Obligations
	 	 	15	 
	11.3 Unsecured General Creditor
	 	 	15	 
	11.4 Trust Fund
	 	 	15	 
	11.5 Nonassignability
	 	 	15	 
	11.6 Not a Contract of Employment
	 	 	16	 
	11.7 Protective Provisions
	 	 	16	 
	11.8 Governing Law
	 	 	16	 
	11.9 Validity
	 	 	16	 
	11.10 Notice
	 	 	16	 
	11.11 Successors
	 	 	16	 

iii

 

ALLIED WASTE INDUSTRIES, INC.

2005 EXECUTIVE DEFERRED COMPENSATION PLAN

     THIS PLAN is hereby amended and restated by ALLIED WASTE INDUSTRIES, INC., a Delaware
corporation (“Company”).

ARTICLE I

PURPOSE; EFFECTIVE DATE

     1.1 Purpose. The purpose of this 2005 Executive Deferred Compensation Plan is to provide a tax
deferred capital accumulation opportunity to certain executives through deferrals of salary, bonus
awards, certain long-term incentive awards, and restricted stock units. It is intended that the
Plan also will provide the Company with a method of rewarding and retaining certain executives.

     1.2 Effective Date. The original effective date of this Plan is December 1, 2004. The
effective date of this amended and restated Plan is January 1, 2008. This Plan is intended to
comply with Code Section 409A and shall be construed accordingly.

ARTICLE II

DEFINITIONS

     For the purposes of this Plan, the following terms shall have the meanings indicated, unless
the context clearly indicates otherwise:

     2.1 Account. “Account” means the bookkeeping account maintained by the Committee for each
Participant.

     2.2 Adjustment Rate. “Adjustment Rate” means the rate of return on the Participant’s Account
(or subaccounts thereunder) during a Valuation Period, as determined pursuant to Article V below.

     2.3 Base Salary. “Base Salary” means a Participant’s annual base salary, excluding bonuses,
incentives, and other extraordinary remuneration for services rendered to the Company, but
including any contributions made by a Participant to a plan established pursuant to Code Section
125 or qualified pursuant to Code Section 401(k).

     2.4 Beneficiary. “Beneficiary” means the person(s) or entity(ies) entitled under Article VII
to receive any death benefits payable after a Participant’s death.

     2.5 Board. “Board” means the Board of Directors of the Company.

     2.6 Bonus. “Bonus(es) ” means such additional amounts of income, over and above the
Participant’s Base Salary, as the Company may pay the Participant, including incentive compensation
(other than LTIP Awards and Performance Based Compensation).

     2.7 Change of Control. “Change of Control” means a change in the ownership or effective
control of the Company or a change in the ownership of a
substantial portion of the assets of the Company, as defined in Treasury Regulation Section
1.409A-3(i)(5) and as may be modified by subsequent applicable law or regulations.

 

 

     2.8 Code. “Code” means the Internal Revenue Code of 1986, as thereafter amended.

     2.9 Committee. “Committee” means a committee consisting of the Company’s Chief Financial
Officer and General Counsel.

     2.10 Company. “Company” means Allied Waste Industries, Inc., a Delaware corporation. The term
“Company” also shall include any entity or sole proprietor that adopts this Plan with the express
written consent of Allied Waste Industries, Inc.

     2.11 Compensation. “Compensation” means Base Salary and Bonuses earned by an
employee-Participant during a calendar year, before reduction for amounts deferred under this Plan
or any other salary reduction program. “Compensation” also includes Performance Based Compensation
earned by an employee-Participant for a performance cycle of at least twelve (12) months, before
reduction for amounts deferred under this Plan or any other salary reduction agreement.
“Compensation” also includes LTIP Awards and/or RSUs that would be paid to the employee-Participant
but for a deferral election made under this Plan. Compensation does not include expense
reimbursements, any form of noncash compensation, or benefits.

     2.12 Deferred Stock Units. “Deferred Stock Units” mean Restricted Stock Units which are
granted under the terms of the Allied Waste Industries, Inc. 2006 Incentive Stock Plan (“2006 Stock
Plan”) and deferred under this Plan pursuant to Article III.

     2.13 Deferral Commitment. “Deferral Commitment” means a commitment made by a Participant to
defer Compensation pursuant to Article III.

     2.14 Deferral Period. “Deferral Period” means each calendar year.

     2.15 Discretionary Contribution. “Discretionary Contribution” means the Employer contribution
credited to a Participant’s Account under Section 4.3.

     2.16 Employer. “Employer” means the Company.

     2.17 Identification Date. “Identification Date” means December 31.

     2.18 Key Employee. “Key Employee” means a “key employee” as defined in Code Section 416(i)
without regard to Code Section 416(i)(5). If a Participant meets the definition of Key Employee as
of an Identification Date or during the twelve (12) month period ending on the Identification Date,
the Participant shall be a Key Employee for the twelve (12) month period that begins on the first
day of the fourth month immediately following the Identification Date.

     2.19 LTIP Award. “LTIP Award” means an amount awarded to a Participant under the Allied Waste
Industries, Inc. Long-Term Incentive Plan (“LTIP”), which would otherwise be payable to the
Participant but for an election to defer the LTIP Award under this Plan.

     2.20 Participant. “Participant” means any eligible individual who becomes a Participant in
accordance with Section 3.1.

2

 

     2.21 Participation Agreement. “Participation Agreement” (also called a “Deferral Election
Form”) means the agreement submitted by a Participant prior to the beginning of a Deferral Period,
with respect to a Deferral Commitment made for such Deferral Period. “Participant Agreement” also
includes an agreement submitted by a Participant with respect to a deferral of an LTIP Award, RSU
award or Performance Based Compensation in accordance with Sections 3.2(c), (d) or (e).

     2.22 Performance Based Compensation. “Performance Based Compensation” means “performance-based
compensation” (other than LTIP Awards) as defined in Treasury Regulation Section 1.409A-1(e) and as
may be modified by subsequent applicable law or regulations.

     2.23 Plan. “Plan” means this 2005 Executive Deferred Compensation Plan as amended from time to
time.

     2.24 Plan Year. “Plan Year” means the calendar year; provided that there shall be an initial
short Plan Year of December 1, 2004 through December 31, 2004 to permit Deferral Commitments to be
made for the 2005 Deferral Period.

     2.25 Restricted Stock Units. “Restricted Stock Units” or “RSUs” mean units of restricted stock
granted to a Participant under the 2006 Stock Plan, which would otherwise be payable to the
Participant but for an election to defer the RSUs under this Plan.

     2.26 Termination of Service. “Termination of Service” means a Participant’s separation from
service with the Company due to the Participant’s death, retirement or other “termination of
employment” as defined in Treasury Regulation 1.409A-1(h) and as may be modified by subsequent
applicable law or regulations.

     2.27 Unforseeable Emergency. “Unforeseeable Emergency” means a severe financial hardship to
the Participant resulting from an illness or accident of the Participant, the Participant’s spouse,
or a dependent of the Participant (as defined in Code Section 152, without regard to 152(b)(1),
(b)(2) and(d)(1)(B)), loss of the Participant’s property due to casualty (including the need to
rebuild a home following damage not otherwise covered by insurance, for example, as a result of a
natural disaster), or other similar extraordinary and unforeseeable circumstances arising as a
result of events beyond the control of the Participant.

     2.28 Valuation Date. “Valuation Date” means the last day of the Plan Year or such other, more
frequent, dates as determined by the Committee.

     2.29 Valuation Period. “Valuation Period” means the period beginning on the day after each
Valuation Date and ending on the immediately following Valuation Date.

3

 

ARTICLE III

PARTICIPATION AND DEFERRAL COMMITMENTS

     3.1 Eligibility and Participation.

          (a) Eligibility. Eligibility to participate in the Plan shall be limited to the Company’s
corporate officers who earn an annual Base Salary of at least $150,000, or who satisfy such other
criteria as may be established by the Chief Executive Officer of the Company, and who are
designated from time to time by the Chief Executive Officer.

          (b) Participation. An eligible individual may elect to participate in the Plan with respect to
a Deferral Period by submitting a Participation Agreement to the Committee by the fifteenth (15th)
day of the month immediately preceding the first day of the Deferral Period. If a Participation
Agreement is timely submitted for a Deferral Period, the provisions of Sections 3.2, 3.3 and 3.4
govern the Compensation to be deferred for that Deferral Period and the irrevocability of the
Participation Agreement for that Deferral Period. If a Participation Agreement is not timely
submitted for a Deferral Period, the eligible individual cannot defer any Compensation earned
during that Deferral Period, except as may be explicitly permitted under Section 3.2(c), (d) or (e)
with respect to an LTIP Award, a RSU award or Performance Based Compensation.

          (c) Initial Deferral Period. If an individual first becomes eligible to participate in the
Plan during a Deferral Period (“initial Deferral Period”), the eligible individual may elect to
participate in the Plan with respect to the initial Deferral Period by submitting a Participation
Agreement to the Committee within thirty (30) days after the individual is first designated as
eligible to participate. If a Participation Agreement is timely submitted, the provisions of
Sections 3.2, 3.3 and 3.4 govern the Compensation to be deferred for the initial Deferral Period
and the irrevocability of the Participation Agreement for the initial Deferral Period. If a
Participation Agreement is not timely submitted for the initial Deferral Period, the eligible
individual cannot defer any Compensation earned during the initial Deferral Period, except as may
be explicitly permitted in Section 3.2(c), (d) or (e) with respect to an LTIP Award, a RSU award,
or Performance Based Compensation.

     3.2 Form of Deferral. A Participant may elect Deferral Commitments in the Participation
Agreement as follows:

          (a) Salary Deferral Commitment. A salary Deferral Commitment that is made for a Deferral
Period shall be related only to the Base Salary earned by the Participant during that Deferral
Period. The amount to be deferred shall be stated either as a percentage or a flat dollar amount.

          (b) Bonus Deferral Commitment. A bonus Deferral Commitment that is made for a Deferral Period
shall be related only to the Bonus(es) earned by the Participant during that Deferral Period. The
amount to be deferred may be stated either as a percentage or a flat dollar amount.

          (c) LTIP Award Deferral Commitment. If permitted by the Committee for the LTIP, a Participant
may elect to defer his or her LTIP Award for a Performance Cycle (as defined in the LTIP). The
election must be made prior to the date on which the LTIP Award becomes readily ascertainable and
at least one year prior to the close of the relevant Performance Cycle. In addition,

4

 

to be eligible
to defer the LTIP Award for that Performance Cycle, the Participant must have performed services
for the Company continuously from the later of the first day of that Performance Cycle or the date
the performance criteria were established for that Performance Cycle through the date the election
is made. The amount to be deferred may be stated either as a percentage or a flat dollar amount. If
a deferral election is timely made for an LTIP Award, the deferral election shall relate only to
that LTIP Award and shall become irrevocable in accordance with Section 3.4. Moreover, all of the
Participant’s rights to his or her deferred LTIP Award will be deemed to have been transferred to
this Plan, effective as of the date the LTIP Award would have otherwise been payable to the
Participant from the LTIP, but for the Participant’s deferral election. If a deferral election is
not timely made for an LTIP Award, the Participant cannot defer under this Plan any portion of that
LTIP Award.

          (d) RSU Deferral Commitment. If permitted by the Committee for this Plan, a Participant may
elect to defer all or a portion of a RSU award. The election must be made either prior to the first
day of the calendar year during which the RSU award is granted or by the 30th day
immediately following the date of grant (provided, however, that only RSUs that vest on a date that
is at least twelve (12) months after the date the Deferral Commitment is made shall be eligible for
deferral). The amount to be deferred may be stated as all (i.e., one hundred percent (100%)) of one
or more vesting tranches or, if there is only one or no vesting tranches, as a percentage amount.
If a deferral election is timely made for a RSU award, the deferral election shall relate only to
that RSU award and shall become irrevocable in accordance with Section 3.4. Moreover, all of the
Participant’s rights to his or her deferred RSUs will be deemed to have been transferred to this
Plan effective as of the date of the election, provided that the RSUs shall remain subject to any
vesting provisions set forth in the 2006 Stock Plan. If a deferral election is not timely made for
a RSU award, the Participant cannot defer under this Plan any portion of that RSU award.

          (e) Performance Based Compensation Deferral Commitment. A Participant may elect to defer all
or a portion of his or her Performance Based Compensation for a performance period. The election
must be made prior to the date on which the Performance Based Compensation becomes readily
ascertainable and at least six months prior to the close of the relevant performance period. In
addition, to be eligible to defer Performance Based Compensation for a performance period, the
Participant must have performed services for the Company continuously from the later of the first
day of that performance period or the date the performance criteria were established for that
performance period through the date the election is made. The amount to be deferred may be stated
either as a percentage or a flat dollar amount. If a deferral election is timely made, the deferral
election shall relate only to the Performance Based Compensation earned for that performance period
and shall become irrevocable in accordance with Section 3.4. Moreover, all of the Participant’s
rights to his or her deferred Performance Based Compensation will be deemed to have been
transferred to this Plan, effective as of the date the Performance Based Compensation would have
otherwise been
payable to the Participant but for the Participant’s deferral election. If a deferral election
is not timely made for Performance Based Compensation for a performance period, the Participant
cannot defer under the Plan any portion of the Performance Based Compensation earned for that
performance period.

     3.3 Limitations on Deferral Commitments. The following limitations shall apply to Deferral
Commitments:

5

 

          (a) Minimum. The minimum deferral amount shall be five thousand dollars ($5,000) for each
Deferral Period. The minimum deferral amount can be satisfied from either the Participant’s Base
Salary, Bonus, Performance Based Compensation and/or LTIP Award. The minimum deferral amount does
not apply to RSU deferrals.

          (b) Maximum. The maximum deferral amount for each Deferral Period shall be one hundred percent
(100%) of the Participant’s Base Salary, one hundred percent (100%) of the Participant’s Bonus, one
hundred percent (100%) of the Participant’s Performance Based Compensation, one hundred percent
(100%) of the Participant’s LTIP Award, and/or one hundred percent (100%) of the Participant’s
RSUs; provided, however, that no Deferral Commitment shall reduce a Participant’s total
Compensation below the amount necessary to satisfy the following obligations: (1) applicable
employment taxes on amounts deferred; (2) withholding requirements for other employee benefit plan
elections made by the Participant and/or required by the Company; and (3) all applicable tax
withholding for Compensation that cannot be deferred. For Compensation earned during a
Participant’s initial Deferral Period, Compensation earned prior to the date on which a
Participation Agreement is submitted in accordance with Section 3.1(c) cannot be deferred.

          (c) Changes in Minimum or Maximum. The Committee may change the minimum or maximum deferral
amounts from time to time by giving written notice to all Participants. No such change may affect a
Deferral Commitment that was made prior to the Committee’s action.

     3.4 Modification or Cancellation of Deferral Commitment. A Deferral Commitment that is made
for an LTIP Award, an RSU award, or Performance Based Compensation, in accordance with Section
3.2(c), (d) or (e), shall become irrevocable as of the first day immediately following the last day
on which a deferral election may be made under Section 3.2(c), (d) or (e), as applicable. A
Deferral Commitment that is made for Base Salary and/or Bonus shall become irrevocable as of the
first day of the Deferral Period for which the deferral election is made, except as otherwise
provided in this Section in the case of a distribution for an Unforeseeable Emergency. If the
Participant applies for a distribution due to an Unforeseeable Emergency, the Participant may also
request that his or her Deferral Commitment for Base Salary and Bonus then in effect be cancelled
for the remainder of the Deferral Period during which the distribution due to an Unforeseeable
Emergency is paid. If the Committee grants the distribution for an Unforeseeable Emergency, the
Committee shall also grant the Participant’s request to cancel his or her Deferral Commitment for
Base Salary and Bonus then in effect.

     3.5 Change in Employment Status. If the Chief Executive Officer of the Company determines that
a Participant’s performance is no longer at a level that deserves to be rewarded through
participation in the Plan, or that the Participant otherwise
no longer satisfies the eligibility criteria of Section 3.1, but the Participant’s employment
with Employer is not terminated, the Participant’s existing Deferral Commitment shall terminate at
the end of the Deferral Period and no new Deferral Commitment may be made by such Participant after
notice of such determination is given. The distribution provisions set forth in Article VI shall
continue to apply.

6

 

ARTICLE IV

DEFERRED COMPENSATION ACCOUNT

     4.1 Account. The Committee shall establish and maintain an Account for each Participant under
the Plan. Separate subaccounts may be maintained to reflect different forms of distribution elected
by the Participant and/or different Adjustment Rates.

     4.2 Timing of Credits: Withholding. A Participant’s deferred Compensation shall be credited to
the Participant’s Account at the time it would have been payable to the Participant. Any
withholding of taxes or other amounts with respect to deferred Compensation that is required by
state, federal, or local law shall be withheld from the Participant’s nondeferred Compensation to
the maximum extent possible and any remaining amount shall reduce the amount credited to the
Participant’s Account.

     4.3 Discretionary Contributions. Employer may make Discretionary Contributions to a
Participant’s Account. Discretionary Contributions shall be credited at such times and in such
amounts as the Board in its sole discretion shall determine.

     4.4 Determination of Account. Each Participant’s Account as of each Valuation Date shall
consist of the balance of the Account as of the immediately preceding Valuation Date, adjusted as
follows:

          (a) New Deferrals. The Account shall be increased by any deferred Compensation credited since
the immediately preceding Valuation Date.

          (b) Discretionary Contributions. The Account shall be increased by any Discretionary
Contributions credited since the immediately preceding Valuation Date.

          (c) Distributions. The Account shall be reduced by any benefits distributed from the Account
to the Participant since the immediately preceding Valuation Date.

          (d) Earnings/Losses. The Account shall be increased for earnings accumulated and reduced for
losses incurred since the immediately preceding Valuation Date. Earnings and losses shall be
determined by multiplying the amount credited to the Account (net of any reduction required by
Section 4.4(c) above) by the Adjustment Rate in effect during the Valuation Period. If two or more
Adjustment Rates are in effect during any Valuation Period, earnings and losses shall be determined
separately with respect to each subaccount.

     4.5 Vesting of Account. Each Participant shall be one hundred percent (100%) vested at all
times in the amounts credited to such Participant’s Account and earnings or losses.

     4.6 Statement of Account. The Committee shall give to each Participant a statement showing the
balance in the Participant’s Account on an annual basis and at such times as may be determined by
the Committee.

7

 

ARTICLE V

ADJUSTMENT RATE

     5.1 Selection of Adjustment Rate. Each Participant shall have the right to direct that the
Adjustment Rate for his or her Account be equal to the rate of return (as determined by the
Committee in accordance with Section 5.2) on one or more hypothetical investments approved by the
Committee. The Committee shall specify from time to time a menu of hypothetical investments from
which the Participant may choose, consisting of investments for which market quotations are readily
available, including but not necessarily limited to publicly traded stocks, bonds, or mutual funds.
The Committee may amend this menu from time to time in its discretion.

     By filing a written election with the Committee, the Participant may select hypothetical
investments from the Committee’s approved menu. The Participant’s written election shall specify
the name of each hypothetical investment, and the percentage of his or her Account to be indexed to
each such hypothetical investment. The Participant’s election shall remain in effect until modified
or revoked by the Participant. The Participant shall have the right to make a new election or
revoke or modify any previous election: (a) effective as of the first day of a calendar year, by
filing his or her written election with the Committee by the fifteenth day (15th) of the month
immediately preceding the beginning of the calendar year, or (b) effective as of the first day of a
calendar quarter by filing his or her written election with the Committee at least thirty (30) days
before the quarter begins.

     If the Participant fails to make an election pursuant to this Section (or if the Participant
revokes an election without making a new one), the Adjustment Rate shall be equal to the rate of
return on a Money Market fund as selected by the Committee. In no event will the Employer be
required under this Plan to make any investment in accordance with a Participant’s selection of a
hypothetical investment for determining the Adjustment Rate.

     5.2 Rate of Return. For purposes of Sections 4.4 and 5.1 above, the rate of return on any
hypothetical investment approved by the Committee shall be equal to the rate of return, net of all
fund-level expenses, an investor would realize for the Valuation Period if the investor had
invested in that specific investment vehicle on the first day of the Valuation Period.

     5.3 Rate for Deferred Stock Units. Notwithstanding Sections 5.1 and 5.2 above, with respect to
any Deferred Stock Units that are to be paid from the Plan, the Adjustment Rate and rate of return
will be based on the Fair Market Value of the shares of Company stock to be issued for such Units
as of the Valuation Date. The “Fair Market Value” is the closing sales price on the Valuation Date
(or if the Valuation Date is not a business
day, on the immediately preceding business day) as reported on the principal securities
exchange on which the shares are then listed or admitted to trading.

ARTICLE VI

DISTRIBUTIONS

     6.1 Distributions on Elected Payment Dates. When a Participant makes a Deferral Commitment,
the Participant shall make a payment designation (“Payment Designation”) in the Deferral Election
Form for such Deferral Commitment, specifying whether the Compensation deferred pursuant to that
form and any Discretionary Contribution for that year shall be paid (a) on a specified date or (b)
at Termination of Service. The Participant shall also specify in the Payment

8

 

Designation whether
such amount shall be paid (a) in a lump sum or (b) in substantially equal quarterly or annual
installments over a specified number of years (not to exceed ten (10) years); provided, however,
that Deferred Stock Units will be paid only in a lump sum in the form of shares of the Company’s
common stock with any fractional share being paid in cash. To the extent permitted by the
Committee, a Participant who defers different types of Compensation (e.g., Base Salary and LTIP
Award) in a Deferral Election Form may make a different Payment Designation for each type of
Compensation that is deferred. If the Participant fails to make a Payment Designation, the
Participant will be deemed to have elected payment at Termination of Service in a lump sum. Except
as expressly permitted in this Section, a Participant cannot change or revoke his or her Payment
Designation once it is made.

     If the Participant elects payment on a specified date, the Company shall pay to the
Participant on that date the Compensation deferred in connection with that Payment Designation, any
Discretionary Contributions for that year, and any related earnings/losses thereon. Payment shall
be made in the manner (i.e., lump sum v. installments) elected by the Participant in the Payment
Designation. A Participant may postpone payment to a specified date that is at least five (5) years
later than the specified date to be postponed. In connection with a postponement, a Participant may
also change the manner in which payment is to be made. To be effective, an election to postpone or
an election to postpone and change the manner of payment must be made at least twelve (12) months
prior to the specified date to be postponed, and will only become effective twelve (12) months
after the date the change is made.

     If the Participant elects payment at Termination of Service, following the Participant’s
Termination of Service, the Company shall pay to the Participant within ninety (90) days following
the Termination of Service the Compensation deferred in connection with that Payment Designation,
any Discretionary Contributions for that year, and any related earnings/losses thereon, and the
Participant shall have no right to directly or indirectly designate the tax year in which payment
occurs. Notwithstanding the foregoing, if the Participant is a Key Employee as of his or her
Termination of Service, payment shall be delayed until the first business day immediately following
the six (6) month anniversary of the Participant’s Termination of Service. Payment shall be made
(or begin) in the manner (i.e., lump sum v. installments) elected by the Participant in the Payment
Designation. For each Payment Designation, a Participant may elect, only once, to change the manner
of payment specified in that Payment Designation. The change will not become effective until twelve
(12) months after the date on which the change is made. If the change becomes effective,
payment will be made in the manner specified in the supplemental Payment Designation, and payment
will be delayed until five (5) years after Termination of Service.

     In the case of RSU deferrals, any RSUs that are payable at Termination of Service but will not
become vested until after Termination of Service shall be paid within ninety (90) days following
the later of (a) the date such RSUs vest, or (b) if the Participant is a Key Employee at
Termination of Service, the first business day immediately following the six (6) month anniversary
of the Participant’s Termination of Service. The Participant shall have no right to directly or
indirectly designate the tax year in which payment occurs.

     If payments are to be made in installments, the first annual installment payment shall be
determined by dividing the amount to be paid in installments by the total number of payments to be
made. Successive annual installment payments shall be paid on the anniversary date of the first
installment payment, and successive quarterly installment payments shall be paid on the first

9

 

business day of each calendar quarter. Successive installment payments shall be determined by
dividing the remaining amount to be paid by the remaining number of payments to be made.

     If the Participant dies before receiving payment in full of his or her Account, the remaining
Account balance will be paid in accordance with Section 6.3.

     6.2 Distributions for Unforeseeable Emergencies. A Participant may submit to the Committee, in
writing, a request to receive a distribution due to an Unforeseeable Emergency. The Committee, in
its sole discretion, shall determine whether the Participant has suffered an Unforeseeable
Emergency. If the Committee determines that an Unforeseeable Emergency exists, the Committee shall
also determine whether to make a distribution and, if so, the amount to be distributed, which shall
be the lesser of (a) the Participant’s Account or (b) the amount necessary to satisfy the
Unforeseeable Emergency. The amount necessary to satisfy the Unforeseeable Emergency is the amount,
as determined by the Committee, that is reasonably necessary to satisfy the Unforeseeable Emergency
(and may include the amount necessary to pay any Federal, state or local income taxes or penalties
reasonably anticipated to result from the distribution), minus the amounts available to the
Participant to meet the Unforeseeable Emergency by ceasing deferrals under the Plan. If the
Committee approves the distribution, the distribution shall be made within thirty (30) days after
the Committee’s approval and the Participant shall have no right to directly or indirectly
designate the tax year in which payment occurs.

     6.3 Distributions Upon Death. Any portion of the Participant’s Account that is in pay status
at the time of his or her death shall be paid to the Participant’s Beneficiary according to the
method of payment being paid to the Participant. Any portion of the Participant’s Account that is
not in pay status at the time of his or her death shall be paid to the Participant’s Beneficiary,
and payment shall be made in the same manner as it would have been made to the Participant, except
that payment shall be made (or commence) within ninety (90) days following the Participant’s death.
Neither the Participant nor Beneficiary shall have any right to designate the tax year in which
payment occurs.

     6.4 Withholding for Taxes. To the extent required by the law in effect at the time payments
are made, the Employer shall withhold from the payments
made hereunder any taxes required to be withheld by the federal or any state or local
government, including any amounts which the Employer determines is reasonably necessary to pay any
generation-skipping transfer tax which is or may become due. A Beneficiary, however, may elect not
to have withholding of federal income tax pursuant to Code Section 3405(a)(2), or any successor
provision thereto.

     6.5 Valuation and Settlement. The amount of a lump sum payment and the initial amount of
installments shall be based on the value of the Participant’s Account on the Valuation Date
coincident with or immediately preceding the date such payment is to be made (or commence).

     6.6 Payment to Guardian. The Committee may direct payment to the duly appointed guardian,
conservator, or other similar legal representative of a Participant or Beneficiary to whom payment
is due. In the absence of such a legal representative, the Committee may, in its sole and absolute
discretion, make payment to a person having the care and custody of a minor, incompetent or person
incapable of handling the disposition of property upon proof satisfactory to the Committee of
incompetency, minority, or incapacity. Such distribution shall completely discharge the Company
from all liability with respect to such benefit.

10

 

     6.7 Receipt on Release. Any payment to a Participant or the Participant’s Beneficiary in
accordance with the provisions of the Plan shall, to the extent thereof, be in full satisfaction of
all claims against the Committee and the Company. The Committee may require such Participant or
Beneficiary, as a condition precedent to such payment, to execute a receipt and release to such
effect.

     6.9 Inability to Locate Participant or Beneficiary. In the event that the Committee is unable
to locate a Participant or Beneficiary within the time period by which payment is required to be
made under the terms of this Plan and Code Section 409A, the Participant’s account balance shall be
forfeited.

     6.10 Payment Dates. Any payment made under this Article shall be treated as having been made
on the payment date provided for in this Article if the payment is made no earlier than 30 days
prior to the payment date provided for in this Article and no later than the later of (a) the last
day of the calendar year in which the payment date occurs or (b) the fifteenth day of the third
calendar month following the month in which the payment date occurs. The Participant shall not
designate, directly or indirectly, the taxable year in which any payment is made.

ARTICLE VII

BENEFICIARY DESIGNATION

     7.1 Beneficiary Designation. Subject to Section 7.3, each Participant shall have the right, at
any time during his or her lifetime, to designate one (1) or more persons or an entity as
Beneficiary (both primary as well as contingent) to whom benefits under this Plan shall be paid in
the event of Participant’s death prior to complete distribution of the Participant’s Account. Each
Beneficiary designation shall be in a written form prescribed by the Committee and shall be
effective only when filed with the Committee during the Participant’s lifetime.

     7.2 Changing Beneficiary. Subject to Section 7.3, any beneficiary designation may be changed
by a Participant without the consent of the previously named Beneficiary by the filing of new
designation with the Committee during the Participant’s lifetime. The filing of a new designation
shall cancel all designations previously filed.

     7.3 Community Property. If the Participant resides in a community property state, the
following rules shall apply:

          (a) Designation by a married Participant of a Beneficiary other than the Participant’s spouse
shall not be effective unless the spouse executes a written consent that acknowledges the effect of
the designation, or it is established the consent cannot be obtained because the spouse cannot be
located.

          (b) A married Participant’s Beneficiary designation may be changed by a Participant with the
consent of the Participant’s spouse as provided for in Section 7.3(a) by the filing of a new
designation with the Committee.

          (c) If the Participant’s marital status changes after the Participant has designated a
Beneficiary, the following shall apply:

11

 

     (1) If the Participant is married at the time of death but was unmarried when
the designation was made, the designation shall be void unless the spouse has
consented to it in the manner prescribed in Section 7.3(a).

     (2) If the Participant is unmarried at the time of death but was married when
the designation was made:

     a) The designation shall be void if the spouse was named as
Beneficiary.

     b) The designation shall remain if a nonspouse Beneficiary was named.

     (3) If the Participant was married when the designation was made and is married
to a different spouse at death, the designation shall be void unless the new spouse
has consented to it in the manner prescribed above.

     7.4 No Beneficiary Designation. If any Participant fails designate a Beneficiary in the manner
provided above, if the designation is void, or if the designated Beneficiary dies before the
Participant or before complete distribution of the Participant’s benefits, the Participant’s
Beneficiary shall be the person in the first of the following classes in which there is a survivor:

          (a) The Participant’s spouse;

          (b) The Participant’s children in equal shares, except that if any of the children predeceases
the Participant but leaves issue surviving, then such issue shall take by right of representation
the share the parent would have taken if living;

          (c) The Participant’s estate.

ARTICLE VIII

ADMINISTRATION

     8.1 Committee; Duties. This Plan shall be administered by the Committee. The Committee shall
have the exclusive authority to make, amend, interpret and enforce all appropriate rules and
regulations for the administration of the Plan and decide or resolve any and all questions,
including interpretations of the Plan, as may arise in such administration. A majority vote of the
Committee members shall control any decision. Members of the Committee may be Participants under
this Plan. In no event shall a Committee member make a deciding vote on his or her own benefit. The
Committee shall report to the Chief Executive Officer on an annual basis regarding Plan activity
and at such other times as may be requested.

     8.2 Agents. The Committee may, from time to time, employ agents and delegate to them such
administrative duties as it sees fit, and may from time to time consult with counsel who may be
counsel to the Company.

     8.3 Binding Effect of Decisions. The decision or action of the Committee with respect to any
question arising out of or in connection with the administration, interpretation and application of

12

 

the Plan and the rules and regulations promulgated hereunder shall be final, conclusive and binding
upon all persons having any interest in the Plan.

     8.4 Indemnity of Committee. The Company shall indemnify and hold harmless the members of the
Committee against any and all claims, loss, damage, expense or liability arising from any action or
failure to act with respect to this Plan on account of such person’s service on the Committee,
except in the case of gross negligence or willful misconduct.

     8.5 Compensation and Expenses. The members of the Committee shall serve without compensation
for their services hereunder. Expenses and fees in connection with the administration of the Plan
shall be paid by the Company.

ARTICLE IX

CLAIMS PROCEDURE

     9.1 Claim. The Committee shall establish rules and procedures to be followed by Participants
and Beneficiaries in (a) filing claims for benefits, and (b) for furnishing and verifying proofs
necessary to establish the right to benefits in accordance with the Plan, consistent with the
remainder of this Article. Such rules and procedures shall require that claims and proofs be made
in writing and directed to the Committee.

     9.2 Review of Claim. The Committee shall review all claims for benefits. Upon receipt by the
Committee of such a claim, it shall determine the validity of all facts which are necessary to
establish the right of the claimant to benefits under the provisions of the Plan and the amount
thereof as herein provided within ninety (90) days of receipt of such claim. If prior to the
expiration of the initial ninety (90) day period, the Committee determines additional time is
needed to come to a determination on the claim, the Committee shall provide written notice to the
Participant, Beneficiary or other claimant of the need for the extension, not to exceed a total of
one hundred eighty (180) days from the date the application was received.

     9.3 Notice of Denial of Claim. In the event that any Participant, Beneficiary or other
claimant claims to be entitled to a benefit under the Plan, and the Committee determines that such
claim should be denied in whole or in part, the Committee shall, in writing, notify such claimant
that the claim has been denied, in whole or in part, setting forth the specific reasons for such
denial. Such notification shall be written in a manner reasonably expected to be understood by the
claimant and shall refer to the specific sections of the Plan relied on, shall describe any
additional material or information necessary for the claimant to perfect the claim and an
explanation of why such material or information is necessary, and shall include an explanation of
how the claimant can obtain reconsideration of such denial.

13

 

     9.4 Reconsideration of Denied Claim.

          (a) Within sixty (60) days after receipt of the notice of the denial of a claim, the claimant
or duly authorized representative may request, by mailing or delivery of such written notice to the
Committee, a reconsideration by the Committee of the decision denying the claim. If the claimant or
duly authorized representative fails to request a reconsideration within the sixty (60) day period,
it shall be conclusively determined for all purposes of this Plan that the denial of such claim by
the Committee is correct. If the claimant or duly authorized representative requests a
reconsideration within the sixty (60) day period, the claimant or duly authorized representative
shall have thirty (30) days after filing a request for reconsideration to submit additional written
material in support of the claim, review pertinent documents, and submit issues and comments in
writing.

          (b) After the reconsideration request, the Committee shall determine within sixty (60) days of
receipt of the claimant’s request for reconsideration whether the denial of the claim was correct
and shall notify the claimant in writing of its determination. The notice of decision shall include
specific reasons for the decision, shall be written in a manner calculated to be understood by the
claimant, and shall include specific references to the pertinent Plan provisions on which the
decision is based. In the event of special circumstances determined by the Committee, the time for
the Committee to make a decision may be extended by an additional sixty (60) days upon written
notice to the claimant prior to the commencement of the extension. If such determination is
favorable to the claimant, it shall be binding and conclusive. If such determination is adverse to
such claimant, it shall be binding and conclusive unless the claimant or his or her duly authorized
representative notifies the Committee within ninety (90) days after the mailing or delivery to the
claimant by the Committee of its determination that claimant intends to institute legal proceedings
challenging the determination of the Committee and actually institutes such legal proceedings
within one hundred eighty (180) days after such mailing or delivery.

     9.5 Employer to Supply Information. To enable the Committee to perform its functions, the
Employer shall supply full and timely information to the Committee of all matters relating to the
retirement, death or other cause for termination of employment of all Participants, and such other
pertinent facts as the Committee may require.

ARTICLE X

AMENDMENT AND TERMINATION OF PLAN

     10.1 Amendment. The Board may at any time amend the Plan by written instrument, notice of
which is given to all Participants and to Beneficiaries receiving installment payments, subject to
the following:

          (a) Preservation of Account Balance. No amendment shall reduce the amount accrued in any
Account to the date such notice of the amendment is given; provided, however, that any amendment
required due to legislation or regulations may require and/or permit amounts to be returned to the
Participant.

          (b) Changes in Interest Rate. No amendment shall reduce the amount of earnings or losses
already accrued in any Account. A change shall not become effective before the first day of the
Plan year which follows the adoption of the amendment and at least thirty (30) days= written
notice to the Participants.

14

 

          (c) Compliance with Section 409A. No amendment shall cause the Plan to violate any applicable
provision of Code Section 409A.

     10.2 Employer’s Right to Terminate. The Board may at any time partially or completely
terminate the Plan if, in its judgment, the tax, accounting or other effects of the Plan, or
potential payments thereunder are not in the best interests of the Employer.

          (a) Partial Termination. The Board may partially terminate the Plan by instructing the
Committee not to accept any additional Deferral Commitments. If such a partial termination occurs,
the Plan shall continue to operate and be effective with regard to Deferral Commitments for the
current Deferral Period entered into prior to the effective date of such partial termination.

          (b) Complete Termination. The Board may completely terminate the Plan at any time in any
manner and due to any reason permitted under Code Section 409A.

ARTICLE XI

MISCELLANEOUS

     11.1 Unfunded Plan. This Plan is an unfunded plan maintained primarily to provide deferred
compensation benefits for a select group of “management or highly-compensated employees” within the
meaning of Sections 201, 301 and 401 of ERISA, and therefore is exempt from the provisions of Parts
2, 3 and 4 of Title I of ERISA.

     11.2 Company Obligations. The obligation to make benefit payments to any Participant under the
Plan shall be the liability of the Company.

     11.3 Unsecured General Creditor. Participants and Beneficiaries shall be unsecured general
creditors, with no secured or preferential right to any assets of Employer or any other party for
payment of benefits under this Plan. Any life insurance policies, annuity contracts or other
property purchased by Employer in connection with this Plan shall remain its general, unpledged and
unrestricted assets. Employer’s obligation under the Plan shall be an unfunded and unsecured
promise to pay money in the future.

     11.4 Trust Fund. At its discretion, the Company may establish one (1) or more trusts, with
such trustees as the Board may approve, for the purpose of providing for the payment of benefits
owed under the Plan. Although such a trust may be irrevocable, its assets shall be held for payment
of all the Company’s general creditors in the event of insolvency or bankruptcy. To the extent any
benefits provided under the Plan are paid from any such trust, Employer shall have no further
obligation to pay them. If not paid from the trust, such benefits shall remain the obligation of
Employer.

     11.5 Nonassignability. Neither a Participant nor any other person shall have any right to
commute, sell, assign, transfer, pledge, anticipate, mortgage or otherwise encumber, transfer,
hypothecate or convey in advance of actual receipt the amounts, if any, payable hereunder, or any
part thereof, which are, and all rights to which are, expressly declared to be unassignable and
nontransferable. No part of the amounts payable shall, prior to actual payment be subject to
seizure or sequestration for the payment of any debts, judgments, alimony or separate maintenance
owed by

15

 

a Participant or any other person, nor be transferable by operation of law in the event of
a Participant’s or any other person’s bankruptcy or insolvency.

     11.6 Not a Contract of Employment. This Plan shall not constitute a contract of employment
between Employer and the Participant. Nothing in this Plan shall give a Participant the right to be
retained in the service of Employer or to interfere with the right of Employer to discipline or
discharge a Participant at any time.

     11.7 Protective Provisions. A Participant will cooperate with Employer by furnishing any and
all information requested by Employer in order to facilitate the payment of benefits hereunder, and
by taking such physical examinations as Employer may deem necessary and taking such other action as
may be requested by Employer.

     11.8 Governing Law. The provisions of this Plan shall be construed and interpreted according
to the laws of the State of Arizona, except as preempted by federal law.

     11.9 Validity. In case any provision of this Plan shall be held illegal or invalid for any
reason, said illegality or invalidity shall not affect the remaining parts hereof, but this Plan
shall be construed and enforced as if such illegal and invalid provision had never been inserted
herein.

     11.10 Notice. Any notice required or permitted under the Plan shall be sufficient if in
writing and hand delivered or sent by registered or certified mail. Such notice shall be deemed as
given as of the date of delivery or, if delivery is made by mail, as of the date shown on the
postmark on the receipt for registration or certification. Mailed notice to the Committee shall be
directed to the Company’s address. Mailed notice to a Participant or Beneficiary shall be directed
to the individual’s last known address in Employer’s records.

     11.11 Successors. The provisions of this Plan shall bind and inure to the benefit of Employer
and its successors and assigns. The term successors as used herein shall include any corporate or
other business entity which shall, whether by merger, consolidation, purchase or otherwise acquire
all or substantially all of the business and assets of Employer, and successors of any such
corporation or other business entity.

     DATED: October 24, 2007.

	 	 	 	 	 	 	 
	 	 	ALLIED WASTE INDUSTRIES, INC., a	 	 
	 

	 	Delaware corporation

	 	 
	 
	 	 	 	 	 	 
	 

	 	By	 	 	 	 
	 

	 	 	 	 	 
	 
	 	 	 	 	 	 
	 

	 	Title 	 	 	 	 
	 

	 	 	 	 	 

16

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