What is the main purpose of this 8-K filing?

The main purpose of this filing is to report an amendment and restatement of Boston Scientific's Non-Employee Director Deferred Compensation Plan to comply with Internal Revenue Code Section 409A.

Does this filing indicate any new financial performance or operational changes?

No, this filing is purely administrative and relates to the company's compliance with tax regulations concerning deferred compensation plans for directors. It does not disclose any new financial performance metrics or operational changes.

What is Internal Revenue Code Section 409A?

Section 409A of the Internal Revenue Code provides rules and regulations for nonqualified deferred compensation plans. Compliance with Section 409A is important to avoid adverse tax consequences for plan participants.

When will the amended deferred compensation plan become effective?

The amended and restated Non-Employee Director Deferred Compensation Plan will be effective as of January 1, 2009.

BSX 8-K: Material Agreements

Summary

Boston Scientific Corporation (BSX) filed an 8-K on October 30, 2008, reporting an amendment and restatement of its Non-Employee Director Deferred Compensation Plan. This action was primarily taken to ensure compliance with Internal Revenue Code Section 409A, which governs nonqualified deferred compensation arrangements. While this filing does not involve any material financial events or operational changes, it indicates the company's commitment to maintaining regulatory compliance for its executive and director compensation structures.

Key Highlights

1Amendment and restatement of the Non-Employee Director Deferred Compensation Plan.
2Primary driver for amendment is compliance with IRS Section 409A.
3Technical and administrative changes were also made to the plan.
4The amended plan is effective January 1, 2009.
5This filing relates to corporate governance and regulatory compliance.
6No material financial or operational updates are disclosed in this 8-K.

BOSTON SCIENTIFIC CORP 8-K Report, Material Agreement (Oct 31, 2008)

Summary

Key Highlights

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