Document:

exv10wc

 

EXHIBIT 10.C

Second Amendment to

Amended and Restated Employment Agreement

For Code Section 409A

     This Second Amendment to the Amended and Restated Employment Agreement (this “Second
Amendment”) by and between Viad Corp, a Delaware corporation (the “Company”), and Robert H.
Bohannon (the “Executive”) amends the Amended and Restated Employment Agreement, effective as of
April 1, 2006 (“Employment Agreement”) and,

     WHEREAS, the parties hereto wish to amend the Employment Agreement for purposes of compliance
with the requirements of Internal Revenue Code Section 409A (“Section 409A”);

     NOW, THEREFORE, in consideration of the mutual execution hereof and other good and valuable
consideration, the parties hereto agree, effective as of April 1, 2006, as follows:

	 	1.	 	The first sentence of Section 5(a) of the Employment Agreement shall be amended
by deleting the phrase “within 90 days after the Date of Death or Disability
Termination” and replacing it with “no later than 75 days after the Date of Death or
Disability Termination (“Disability” shall be defined as provided in Section 409A.)”
	 
	 	2.	 	The first sentence of Section 5(b) of the Employment Agreement shall be amended
by deleting the phrase “provide the Executive with outplacement services, the scope and
provider of which shall be selected by the Executive in the Executive’s sole
discretion” and replacing it with “provide the Executive with reasonable outplacement
services for a period of no more than two years or until Executive’s placement with a
new employer, whichever is earlier.”
	 
	 	3.	 	A new section 5(e) shall be added as follows: “Compliance with Internal
Revenue Code Section 409A.  Notwithstanding any other provision of this Agreement
to the contrary, any payment pursuant to this Agreement, including but not limited to,
medical benefits, in-kind benefits (office space and equipment, administrative
assistant, and leased automobile) and/or severance pay in connection with a separation
from service will be administered in accordance with all applicable exemptions from the
deferred compensation requirements of Section 409A and, therefore, shall not be delayed
pursuant to the six-month delay rule of Section 409A. To the extent that any payment
herein does not qualify for any such exemption from Section 409A, such payment shall
meet the requirements of Section 409A by satisfying the following conditions:

	 	(i)	 	such payment must be provided pursuant to an
objectively determinable and non-discretionary definition;
	 
	 	(ii)	 	such payment must be provided during an objectively
specified period;
	 
	 	(iii)	 	the amount of payment in any one taxable year may
not affect the amount of payment in another taxable year;
	 
	 	(iv)	 	any reimbursement of expenses or payment shall be
made on or before the last day of the Executive’s taxable year following
the taxable year in which the expense was incurred;
	 
	 	(v)	 	any right to reimbursement or in-kind benefit is
not subject to liquidation for cash or exchange for another benefit;
	 
	 	(vi)	 	consistent with the foregoing, medical benefits
shall be provided pursuant to the terms of the Viad Corp Limited
Executive Medical Plan for the lifetime of the Executive and spouse (and
dependent children until age 19 or age 25 if documented full-time
students), in-kind benefits of office space and equipment, administrative
assistant and leased automobile shall be for no longer than a period of 5
years from the date of separation and shall be comparable to such similar
in-kind benefits provided to the previous Chairman of the Board; and
	 
	 	(vii)	 	if it is determined that Executive is a Key
Employee any payment of deferred compensation due to a separation from
service within the meaning of Section 409A shall commence no earlier than
6 months following separation from service and, beginning the seventh
month following separation from service, the Executive shall be paid the
aggregate amount in a single sum without interest. “Key Employee” means
an employee who, on December 31st of any preceding year meets
the requirements of Internal Revenue Code Section 416 (as applied under
Code Section 409A) and is considered a “Key Employee” for the applicable
12 month period from April 1st to March 31st of the
following year. “

 

 

     Except as expressly modified by this Second Amendment, the Employment Agreement shall be and
remain in full force and effect in accordance with its terms and shall constitute the legal, valid
and binding obligations of the parties. This Second Amendment, the First Amendment and the
Employment Agreement are the complete agreement of the parties and supersede all other prior
agreements and oral and written representations concerning its subject matter.

     IN WITNESS WHEREOF, the Executive has hereunto set the Executive’s hand and, pursuant to the
authorization of its Board of Directors, the Company has caused this Agreement to be executed in
its name and on its behalf, all as of the day and year first above written.

	 	 	 	 	 
	 	 	 
	 	    /s/ Robert H. Bohannon
 	 
	 	Robert H. Bohannon 	 
	 	 	 
	 

	 	 	 	 	 
	 	VIAD CORP

 	 
	 	By  	/s/ Scott E. Sayre
 	 
	 	 	Scott E. Sayre 	 
	 	 	Vice President & General Counsel 	 
	 

2exv10wd

 

EXHIBIT 10.D

AMENDMENT TO VIAD CORP

PERFORMANCE UNIT AGREEMENT

FOR CODE SECTION 409A

THIS AMENDMENT (this “Amendment”), effective as of January 1, 2005 is entered into between Viad
Corp, a Delaware Corporation, (the “Company”) and each Employee awarded Performance Units related
to Performance Periods commencing on or after January 1, 2005.

WHEREAS, the Company and certain Employees have entered into Performance unit Agreements with
Performance Periods and related awards that are subject to restrictions on transfer which lapse per
the terms of the Agreement;

WHEREAS, the Company and such Employees wish to amend the Performance Unit Agreements for purposes
of documentary compliance with Internal Revenue Code Section 409A (“Section 409A”) on or before
December 31, 2007;

NOW THEREFORE, in consideration of the premises and for other good and valid consideration, the
receipt and sufficiency of which is hereby acknowledged, the Company and said Employees agree as
follows:

     1. A new Section 6 shall be added as follows:

Compliance with or exemption from Code Section 409A. Notwithstanding any other term
of this Plan to the contrary, the Plan is intended to satisfy or otherwise be exempt from
the requirements of Section 409A. To the extent that any payment pursuant to this Plan is or
becomes subject to Section 409A of the Internal Revenue Code it shall be paid in accordance
with the requirements of Section 409A and no deferral or acceleration of payment
inconsistent with Section 409A shall be permitted. Any payment subject to Section 409A due
to a separation from service shall be delayed for a six month period if payable to a “Key
Employee” (as defined below). Payments made upon lapse of a substantial risk of forfeiture
herein shall be made within the two and one-half month period following the taxable year of
the Corporation in which the amount was no longer subject to a substantial risk of
forfeiture and an Employee shall have no ability to designate the taxable year of payment.
Payments made due to a Change in Control shall be made within 30 days of the Change in
Control and the Employee shall have no discretion to designate the taxable year of receipt.
To the extent that any provision of this Plan fails to satisfy the requirements of, or be
exempt from Section 409A, the provision shall be automatically modified in a manner that, in
the good faith opinion of the Corporation, brings the provision into compliance with Section
409A while preserving as closely as possible the original intent of the Plan. “Key Employee”
means an Executive considered a key employee for the 12-month period commencing on April
1st of the year following the 12-month period ending on December 31st
of the preceding year during which the Executive met the requirements of Internal Revenue
Code Section 416 as applied under Section 409A.

THIS AMENDMENT to the Performance Unit Agreement, having been duly considered by the Board
of Directors of Viad Corp at its regular meeting held August ___, 2007, is hereby
approved.

     SIGNED this ___day of ___, 2007

	 	 	 	 	 	 	 
	 

	 	By:
	 	 	 	 
	 

	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 	 	 	 	 
	 

	 	(Name)	 	 	 	 
	 
	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 	 	 	 	 
	 

	 	(Title)exv10we

 

EXHIBIT 10.E

VIAD CORP

SUPPLEMENTAL TRIM PLAN

(As amended and restated effective January 1, 2005 for Internal Revenue Code Section 409A)

	1.	 	Purpose of the Plan

The purpose of Supplemental TRIM Plan (the Plan) is to provide a select group of management or
highly compensated employees who are officers and key employees of Viad Corp (the Company) and its
subsidiaries with an opportunity to accumulate pre-tax savings for retirement. This amended and
restated Plan document (the “Restatement”) is effective for plan years beginning on January 1, 2005
and thereafter. This Restatement is intended to meet the requirements of Code Section 409A of the
Internal Revenue Code enacted as part of the American Jobs Creation Act on October 22, 2004 and the
regulations and guidance promulgated thereto (“Section 409A”). The amendments adopted herein shall
be effective for the Plan year 2005 and thereafter and shall apply only to amounts deferred (within
the meaning of Section 409A) after December 31, 2004. Amounts deferred under the Plan prior to
January 1, 2005 are not subject to Section 409A (“Grandfathered Amounts”). An amount deferred
prior to January 1, 2005 equals that portion of an employee’s account balance as of December 31,
2004 the right to which is earned and vested as of December 31, 2004 plus any future contributions
to the account, the right to which is earned and vested as of December 31, 2004. The terms and
conditions of this Plan as in effect on October 3, 2004 shall apply to such Grandfathered Amounts.
The Plan as in effect on October 3, 2004 was governed by the Plan document as amended and restated
August 20, 2003. During the 2005, 2006 and 2007 Plan years, the Plan shall be operated in good
faith compliance with Section 409A, including any applicable regulatory guidance and transition
relief.

	2.	 	Administration of the Plan

The Plan shall be administered by the Compensation Advisory Committee (the Committee), the members
of which shall be appointed by the Chief Executive Officer of Viad Corp. Subject to the express
provisions of the Plan, the Committee shall have the authority to adopt, amend and rescind such
rules and regulations, and to make such determinations and interpretations relating to the Plan,
which it deems necessary or advisable for the administration of the Plan, but it shall not have the
power to amend, suspend or terminate the Plan. All such rules, regulations, determinations and
interpretations shall be conclusive and binding on all parties.

	3.	 	Participation in the Plan

	(a)	 	Participation in the Plan shall be restricted to those officers and key employees of the
Company and its subsidiaries whose pre-tax, elective deferrals to the Viad Corp Capital
Accumulation Plan (“TRIM Plan”) are actually limited by the elective deferral limitations
contained in Section 402 of the Internal Revenue Code to the extent such deferrals do not
reach the maximum employer-matchable percentage of their base salary under the TRIM Plan and
whose timely written requests to defer the receipt of compensation are accepted in whole or in
part by the Committee, in its sole discretion. A written request for deferral under
paragraph 4 shall not be timely in any event unless it is duly submitted to the Committee in
the employee’s taxable year before the year in which the services giving rise to the
compensation to be deferred are performed. No deferral of compensation need be made by a
participant in the Plan as a condition to entitlement to the benefit described in paragraph
6(a)(iii). Every Plan participant shall, however, timely designate the time and form of
payment in accordance with and subject to the terms and conditions of the Plan.

	(b)	 	If a participant in the Plan shall (1) sever his or her employment with the Company or one of
its subsidiaries or (2) during or following such employment, engage in any activity in
competition with the Company or any of its subsidiaries during or following such employment,
or (3) remain in the employ of a corporation which for any reason ceases to be a subsidiary of
the Company, his or her participation in the Plan shall automatically terminate, as of the
date his or her employment is severed or the Committee determines that he or she has engaged
in such competitive activity or that his or her employer is no longer a subsidiary of the
Company. Such termination shall not accelerate or delay payment of the deferred compensation
account which shall be made in accordance with the prior election made by the employee as to a
specified date and form of payment pursuant to Sections 4 and 5 hereof.

	4.	 	Requests for Deferral

 

All requested elections for deferral of compensation must be made in writing (in such form and
containing such terms and conditions as the Committee may determine) not later than December
31st of the year prior to the year in which the services giving rise to the compensation
to be deferred are performed. In the case of the first year in which an employee becomes eligible
to participate in the Plan, a requested election to defer shall be made within thirty (30) days
after the employee becomes eligible to participate and shall be made solely with respect to
services to be performed subsequent to the making of the request. A participant’s election to
defer, once accepted by the Committee, remains in effect and shall become irrevocable on each
December 31st prior to the year in which the services giving rise to the compensation to
be deferred are performed, unless prior to December 31st the participant requests that
future deferrals for the subsequent year be terminated.

Each such request shall specify the percentage or dollar amount of base salary if any, but in no
event shall the amount to be deferred in a Plan year be greater than the lesser of (i) $45,000, or
the amount specified by the Internal Revenue Service under Code Section 415, Defined Contribution
Annual Maximum, less the total amount of all contributions of whatever nature, to the Participant’s
TRIM Plan account during the same time period, or (ii) 50% of the participant’s base salary in the
Plan year. Each such request shall also specify (1) the date (by year or by age of participant)
when payment of the deferred amount credited to the deferred compensation account is to commence
(which shall not be earlier than age 55 nor later than age 65) and (2) whether such payment is then
to be made in a lump sum or in quarterly or annual installments, and the period of time (not in
excess of ten years) over which the installments are to be paid. If the participant has designated
a year for his or her commencement date then payment shall commence on January 1st of
that year. If the participant has designated an age as his or her commencement date, then payment
shall commence on the first day of the month following the month in which the participant has
attained the designated age. Generally, the Plan does not permit payment due to a separation from
service within the meaning of Section 409A. However, in the event of any payment due to separation
from service to a Key Employee (as such term is defined under Code Section 416) the six month delay
in payment for such key employee as set forth in Section 409A shall apply to such payments under
this Plan.

The Committee shall not, under any circumstances, accept any requested election to defer
compensation greater than the limits defined above. The Committee shall not accept any request
which is not in writing or which is not timely submitted. The Committee shall make its
determination on any requested election to defer on or before the December 31st before
the year in which the employee’s services giving rise to the compensation to be deferred are to be
performed.

Pursuant to the transition relief extended by Treasury regulations proposed on October 24, 2005,
for the Plan years 2005 and 2006 and extended for the 2007 Plan year by Notice 2006-79,
participants may make new requests for deferral with respect to amounts that are subject to Code
Section 409A in order to conform existing deferral requests for 2005, 2006 and 2007 to the extent
necessary to comply with the requirements of Section 409A provided that such new request is made
and on or before December 31, 2007 and is otherwise consistent with applicable guidance.
Accordingly, any such new election cannot defer or accelerate amounts subject to Section 409A that
would have been otherwise paid in 2005, 2006, or 2007.

5. Deferral of Compensation

The Committee shall notify each individual who has submitted a request for deferral of compensation
whether or not such request has been accepted. If the request has been accepted in whole or in
part, the Committee shall advise the participant of the percentage of his or her compensation which
the Committee has determined to be deferred. The Committee shall further advise the participant of
its determination as to the date when payment of the deferred amount credited to the participant’s
deferred compensation account is to commence, whether payment of the amount so credited as of that
date will then be made in a lump sum or in quarterly or annual installments, and if payment is to
be made in installments, the period of time over which the installments will be paid.
Notwithstanding any other provision of the Plan, the participant’s designation of the date and form
of payment as accepted by the Committee shall be irrevocable and the Committee shall not permit the
acceleration of the time or schedule of any payment under the Plan except upon the death or
disability of the participant (within the meaning of Code Section 409A and regulations pursuant
thereto). In the event of the death or disability of the participant, such participant’s deferral
election shall be cancelled and payment of the participant’s total account shall be made in a lump
sum within 60 days of the participant’s death or the date that the participant incurred a
disability. Nor shall the Committee permit any participant elections which would have the effect
of delaying scheduled payments or changing the form of scheduled payment except as provided herein.
Accordingly, while a participant may timely terminate an election to defer as to future
compensation, the participant’s election as to the date and form of payment shall not be modified
or terminated except as follows:

          A participant may delay or change the method of payment provided that:

(a) the new election must be made at least 12 months prior to the date of the
first scheduled payment from such account;

2

 

(b) the new election may not take effect until at least 12 months after the
date on which the new election is made; and

(c) the new election must provide for deferral of the first payment for a
period of at least five years from the date such payment would otherwise have
been made.

	6.	 	Deferred Compensation Account

	(a)	 	A deferred compensation account shall be maintained for each participant of this Plan by his
or her employer. The employer shall credit to each participant’s account the following
amounts, as appropriate:

          (i) The deferral duly elected under the Plan on the date the participant would have received
such deferral as base salary;

          (ii) Based on the provision of the TRIM Plan in effect at the time, an amount with respect to
the deferrals in (1), above, calculated on the same basis as the employer’s then current matching
contribution on elective deferrals under the TRIM Plan on the first day of each quarter. In no
event shall this amount exceed the maximum amount of matching contributions which would be
available, assuming the participant elects the maximum deferrals allowed under the TRIM Plan and
the limitations on elective deferrals contained in Code Section 402 do not apply, less the amount
of actual matching contributions made by the employer to the participant’s TRIM Plan account, if
any, for the same period;

          (iii) Based on the provisions of the TRIM Plan in effect at the time, and not withstanding the
amount, if any, of deferrals in (i) above, an amount equal to the employer matching contributions
which would have been made to the participant’s TRIM Plan account based on the amount of elective
deferrals actually made by said participant to the TRIM Plan, but for the application of Code
Section 401(a)(17) or any other similar law on the first day of each quarter; and

          (iv) Interest on the participant account balance at a per annum rate equal to the yield as of
January 1, April 1, July 1, and October 1 on Merrill Lynch Taxable Bond Index-Long Term Medium
Quality (A3) Industrial Bonds or such other rate the Committee may determine consistent with the
requirements of Code Section 409A and related regulations, credited quarterly prior to the
termination of the participant’s deferral period, or if the deferred compensation account is to be
paid in installments, credited quarterly, prior to the termination of such installment period.

	(b)	 	The Company or employer, as the case may be, shall not be required to physically segregate
any amounts of money or property or otherwise provide for funding of any amounts credited to
the deferred compensation accounts of participants in the Plan. Participants have no claim,
interest or right to any particular funds or property that the Company or any employer may
choose to reserve or otherwise use to provide for its liabilities under the Plan and the
participants of the Plan shall have the rights of general creditor only with respect to their
interests in the Plan.

	7.	 	Designation of Beneficiary

Each participant in the Plan shall deliver to the Committee a written instrument, in the form
provided by the Committee, designating one or more beneficiaries to whom payment of the amount
credited to his or her deferred compensation account shall be made in the event of his or her
death.

	8.	 	Nonassignability of Participant Rights

No right, interest or benefit under the Plan shall be assignable or transferable under any
circumstances other than to a participant’s designated beneficiary in the event of his or her
death, nor shall any such right, interest or benefit be subject to or liable for any debt,
obligation, liability or default of any participant. In the event of any attempt to assign or
transfer any right, interest or benefit under the Plan, or to subject any such right, interest or
benefit to a debt, obligation, liability or default of a participant, his or her participation in
the Plan shall terminate on the date such an attempt is made, and such attempt shall be void and of
no effect.

	9.	 	Rights of Participants

A participant in the Plan shall have only those rights, interest or benefits as are expressly
provided in the Plan. This Plan does not create for any employee or participant any right to be
retained in service by any Company nor affect the right of any such Company to discharge any
employee or participant from employment.

	10.	 	Amendment, Suspension or Termination of the Plan

3

 

	(a)	 	The Board of Directors of the Company (the Board) may from time to time amend, suspend or
terminate the Plan, in whole or in part, and if the Plan is suspended or terminated, the Board
may reinstate any or all provisions of the Plan, except that no amendment, suspension or
termination of the Plan shall, without consent of a participant, adversely affect such
participant’s right to receive payment of the entire amount credited to his or her deferred
compensation account on the date of such Board action. In the event the Plan is terminated,
the Board may, in its discretion, direct the Committee to pay to each participant the amount
credited to his or her account provided that such Plan termination is in accordance with
Proposed Treasury Regulation Section 1.409A-3(j)(4)(ix) or as such regulation may be
subsequently amended.

	(b)	 	Any action by Viad Corp under the Plan may be by resolution of its Board of Directors, or by
any person or persons duly authorized by resolution of said Board to take such action.

11. Effective Date

The amended and restated Plan’s effective date is January 1, 2005. The Plan year is January 1 to
December 31.

The undersigned, an authorized officer of the Company, has signed this Plan document on this 27th
day of August, 2007.

	 	 	 	 	 	 	 
	 	 	Viad Corp	 	 
	 
	 	 	 	 	 	 
	 

	 	By
	 	/s/ Suzanne Pearl	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	Vice President — Human Resources and Administration	 	 
	 

	 	 	 	(title)	 	 

4

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