Safeway 2013 Annual Report Download - page 177
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regulations and other interpretive guidance issued thereunder, including without limitation any such regulations or other guidance that may be issued
after the date hereof, âSection 409Aâ). However, notwithstanding any other provision of the Plan, the Grant Notice or this Agreement, if at any time
the Administrator determines that the Option (or any portion thereof) may be subject to Section 409A, the Administrator shall have the right in its sole
discretion (without any obligation to do so or to indemnify Participant or any other person for failure to do so) to adopt such amendments to the Plan,
the Grant Notice or this Agreement, or adopt other policies and procedures (including amendments, policies and procedures with retroactive effect),
or take any other actions, as the Administrator determines are necessary or appropriate either for the Option to be exempt from the application of
Section 409A or to comply with the requirements of Section 409A.
5.15 Limitation on Participantâs Rights. Participation in the Plan confers no rights or interests other than as herein provided. This
Agreement creates only a contractual obligation on the part of the Company as to amounts payable and shall not be construed as creating a trust.
Neither the Plan nor any underlying program, in and of itself, has any assets. Participant shall have only the rights of a general unsecured creditor of
the Company with respect to amounts credited and benefits payable, if any, with respect to the Option, and rights no greater than the right to receive
the Stock as a general unsecured creditor with respect to options, as and when exercised pursuant to the terms hereof.
5.16 Claw-Back Policy. The Option shall be subject to any claw-back policy implemented by the Company, in accordance with Section
11.7(b) of the Plan.
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