{"id":40243,"date":"2015-09-17T11:25:58","date_gmt":"2015-09-17T16:25:58","guid":{"rendered":"https:\/\/content.findlaw-admin.com\/ability-legal\/contracts\/uncategorized\/pension-restoration-plan-e-i-du-pont-de-nemours-amp-co.html"},"modified":"2015-09-17T11:25:58","modified_gmt":"2015-09-17T16:25:58","slug":"pension-restoration-plan-e-i-du-pont-de-nemours-amp-co","status":"publish","type":"corporate_contracts","link":"https:\/\/corporate.findlaw.com\/contracts\/compensation\/pension-restoration-plan-e-i-du-pont-de-nemours-amp-co.html","title":{"rendered":"Pension Restoration Plan &#8211; E I du Pont de Nemours &#038; Co."},"content":{"rendered":"<pre>\n                             PENSION RESTORATION PLAN\n\n\n\n                       Originally Adopted - January 1, 1976\n\n                            Last Amended - June 4, 1996\n\n\n\n                       E. I. du Pont de Nemours and Company\n\n \n                                                                   EXHIBIT 10.4\n\n\n                             PENSION RESTORATION PLAN\n                             ------------------------\n\n  I.  PURPOSE\n\n           The purpose of this Plan is to provide an employee or pensioner or\nhis survivor or survivors eligible to receive payments pursuant to the Company's\nPension and Retirement Plan the portion of his pension or survivor benefit that\nwould have been paid to him or his survivor or survivors under the Pension and\nRetirement Plan if the limitations established in paragraphs A(2)(b)(iii)\nrelating to deferred Variable Compensation Awards, A(2)(b)(v) and D of Section\nIX of such Plan had not been applied, or, effective with payments made after\nJanuary 1, 1996, if the limitations established in paragraphs A(2)(b)(v) and D\nof Section IX of such Plan not been applied. Notwithstanding the above, an\nemployee or the survivor(s) of an employee who retires in accordance with the\nIncapability Retirement provision of Section IV of the Pension and Retirement\nPlan will not be eligible for participation in this Plan.\n\n II.  ADMINISTRATION\n\n           The administration of this Plan is vested in the Board of Benefits\nand Pensions appointed by the Company, except that the Compensation and Benefits\nCommittee shall determine the discount rate to be used in calculating the lump\nsum payment described in Section V. The Board may adopt such rules as it may\ndeem necessary for the proper administration of the Plan, and its decision in\nall matters involving the interpretation and application of this Plan shall be\nfinal. The Board shall have the discretionary right to determine eligibility for\nbenefits hereunder and to construe the terms and conditions of this Plan.\n\nIII.  ELIGIBILITY\n\n           An employee or pensioner who is entitled to pension payments, or a\nperson entitled to survivor benefits, pursuant to the Company's Pension and\nRetirement Plan, but excluding an employee or the survivor(s) of an employee who\nretires under the Incapability Retirement provision of Section IV of the Plan,\nwill be eligible for payments under this Plan provided payments that would have\nbeen made under the Pension and Retirement Plan have been reduced by the\nlimitations on such payments set forth in paragraphs A(2)(b)(iii) relating to\ndeferred Variable Compensation Awards, A(2)(b)(v) and D of Section IX of such\nPlan, or, effective with payments made after January 1, 1996, the limitations on\nsuch payments set forth in paragraphs A(2)(b)(v) and D of Section IX of such\nPlan.\n\n                                       1\n\n \n                                                                  EXHIBIT 10.4\n\n           For purposes of this Plan, the term 'Company' means E. I. du Pont de\nNemours and Company, any wholly owned subsidiary or part thereof and any\npartnership or joint venture in which E. I. du Pont de Nemours and Company is\njoined which adopts this Plan with the approval of the Company, or such person\nor persons as the Company may designate.\n\n IV.  AMOUNT PAYABLE\n\n          The monthly amount payable to a person eligible to receive payments\nunder this Plan will be equal to his monthly pension or survivor benefit under\nthe Pension and Retirement Plan calculated without application of the\nlimitations on such payment set forth in paragraphs A(2)(b)(iii) relating to\ndeferred Variable Compensation Awards, A(2)(b)(v) and D of Section IX of such\nPlan, or effective with payments made after January 1, 1996, the limitations on\nsuch payments set forth in paragraphs A(2)(b)(v) and D of Section IX of such\nPlan, less the amount of the actual monthly pension or survivor benefit paid\nunder such Plan.\n\n  V.  PAYMENTS OF BENEFITS\n\n          The amount payable under this Plan will be paid coincident with the\nmonthly pension or survivor benefit paid under the Pension and Retirement Plan,\nunless (1) the amount payable is or becomes less than or equal to the minimum\nmonthly payment amount fixed by the Board of Benefits and Pensions, in which\ncase the actuarial equivalent of all such remaining payments shall be paid in a\nlump sum, or (2) the employee irrevocably elects under rules prescribed by the\nBoard of Benefits and Pensions to receive all or part of the actuarial\nequivalent of such monthly payments in a lump sum. A lump sum payment shall be\ndelivered as of the end of the month following that in which the employee\nretires or at such future times and under such terms and conditions as the\nCompensation Committee may determine. All payments under this Plan shall be made\nby, and all expenses of administering this Plan shall be borne by, the Company.\n\n VI.  RIGHT TO MODIFY\n\n          The Company reserves the right to change this Plan in its discretion\nby action of the Compensation and Benefits Committee or its delegate or to\ndiscontinue this Plan in its discretion by action of the Board of Directors.\n\nVII.  NONASSIGNMENT\n\n          No assignment of the rights and interests under this Plan will be\npermitted or recognized under any circumstances, nor shall such rights and\ninterests be subject to attachment or other legal processes for debt.\n\n                                         2\n<\/pre>\n","protected":false},"template":"","meta":{"_acf_changed":false,"_stopmodifiedupdate":true,"_modified_date":"","_cloudinary_featured_overwrite":false},"corporate_contracts_companies":[7369],"corporate_contracts_industries":[9451],"corporate_contracts_types":[9539,9550],"class_list":["post-40243","corporate_contracts","type-corporate_contracts","status-publish","hentry","corporate_contracts_companies-dupont-e-i-de-nemours---co","corporate_contracts_industries-manufacturing__chemicals","corporate_contracts_types-compensation","corporate_contracts_types-compensation__retirement"],"acf":[],"_links":{"self":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts\/40243","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts"}],"about":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/types\/corporate_contracts"}],"wp:attachment":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/media?parent=40243"}],"wp:term":[{"taxonomy":"corporate_contracts_companies","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_companies?post=40243"},{"taxonomy":"corporate_contracts_industries","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_industries?post=40243"},{"taxonomy":"corporate_contracts_types","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_types?post=40243"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}