Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
The Compensation Committee of The Goodyear Tire & Rubber Company has approved
amendments to the supplemental letter agreement, dated February 3, 2004, between
Goodyear and Robert J. Keegan, Goodyear's Chairman, President and Chief
Executive Officer. The amended supplemental letter agreement was signed and
became effective on December 18, 2008.
The amendments extend the term of the supplemental agreement from February 28,
2009 until February 28, 2012 and eliminate the agreement's excise tax gross-up
provision. The amendments also make other changes required in order to comply
with Section 409A of the Internal Revenue Code and to ensure the deductibility
by Goodyear of performance-based payments to Mr. Keegan under Section 162(m) of
the Internal Revenue Code.
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