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2004-08-25 WS & CC Meeting
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2004-08-25 WS & CC Meeting
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<br />eik;b.'+ A <br /> <br />457 Plan and Trust Document <br /> <br />DEFERRED COMPENSATION PLAN & TRUST <br /> <br />As Amended and Restated Effective January 1,2002 <br /> <br />Article I. Purpose <br /> <br />The Employer hereby establishes the Employer's Deferred Compensation Plan and Trust, <br />heteaftet referred to as the "Plan." The Plan consists of the provisions set forrh in this <br />document. <br /> <br />The ptimary purpose of this Plan is to ptovide tetirement income and other deferred benefits <br />to the Employees of the Employer and the Employees' Beneficiaries in accordance with the . <br />provisions of Section 457 of the Internal Revenue Code of 1986, as amended (the "Code"). <br /> <br />This Plan shall be an agteement solely between the Employet and participating Employees. <br />The Plan and Trust fotming a part hereof are established and shall be maiotained fot the <br />exclusive benefit of Participants and their Beneficiaries. No parr of the corpus or income of <br />the Trust shall revert to the Employer or be used fot or diverted to purposes other than the <br />exclusive benefir of Participants and their Beneficiaries. <br /> <br />Article II. Definitions <br /> <br />2.01 Account: The bookkeeping account maiotained for each Participant reflecting the <br />cumulative amount of the Participant's Deferred Compensation, including any income, <br />gains, losses, or increases or decreases in market value attributable to the Employer's <br />investment of the Participant's Deferred Compensation, and furthet reflecting any <br />distributions to the Participant or the Participant's Beneficiary and any fees or expenses <br />charged agaiost such Participant's Deferred C~mpensation. <br /> <br />2 (, '\ccounting Date: Each business day that the New York Stock Exchange is open for <br />t. ;, as provided in Section 6.06 for valuing the Trust's assets. <br /> <br />2. . Administrator: The person or persons named to carry out certain nondiscretionary <br />administrative functions under the Plan, as hereinafter described. The Employer may <br />remove any person as Administrator upon 60 days' advance notice in writing to such person, <br />in which case the Employer shall name another person or persons to act as Administrator. <br />The Administrator may resign upon 60 days' advance notice in writing to the Employer, in <br />which case the Employer shall name another person or persons to act as Administrator. <br /> <br />2.04 Automatic Distribution Date: April 1 of the calendar year after the Plan Year the <br />Participant attains age 70-1/2 or, if/ater, has a Severance Event. <br /> <br />2.05 Beneficiary: The person or persons designated by the Participanr in his or her Joinder <br />Agteement who shall receive any benefits payable hereunder in the event of the Participant's <br />death. In the event that the Participant names two or mOre Beneficiaries, each Beneficiary <br />shall be entitled to equal shares of the benefits payable at the Parricipant's death, unless <br />otherwise provided in the Participant's Joinder Agreement. If no beneficiary is designated in <br />the Joinder Agreement, if the Designated Beneficiary predeceases the Participant, or if the <br />designated Beneficiary does not survive the Participant for a period of fifteen (15) days, then <br /> <br /> <br />.;, <br /> <br />. . <br />:f--':',- :"..*.l-;;~i~, -,;.< >_i-:-,:"'f';'~"'!i_'i:'';_~';<~~J,;;'~~@-1?{-e~~f~~~i.?~}f41~..;-;:~*t;::%,j,f.?~~~~-:k :~'i~~tp_:;~<f.~:~E'.:,~;.'1~~,:,,:~t;{~~~f.;~ <br /> <br />1 <br />
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