{"id":40700,"date":"2015-09-17T11:25:58","date_gmt":"2015-09-17T16:25:58","guid":{"rendered":"https:\/\/content.findlaw-admin.com\/ability-legal\/contracts\/uncategorized\/supplemental-savings-and-investment-plan-colgate-palmolive-co.html"},"modified":"2015-09-17T11:25:58","modified_gmt":"2015-09-17T16:25:58","slug":"supplemental-savings-and-investment-plan-colgate-palmolive-co","status":"publish","type":"corporate_contracts","link":"https:\/\/corporate.findlaw.com\/contracts\/compensation\/supplemental-savings-and-investment-plan-colgate-palmolive-co.html","title":{"rendered":"Supplemental Savings and Investment Plan – Colgate-Palmolive Co."},"content":{"rendered":"

COLGATE-PALMOLIVE COMPANY<\/strong><\/p>\n

\n<\/p>\n

SUPPLEMENTAL SAVINGS AND INVESTMENT PLAN<\/strong><\/p>\n

\n<\/p>\n

\n

TABLE OF CONTENTS<\/strong><\/p>\n

\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
<\/td>\n\n

PAGE<\/strong><\/p>\n<\/td>\n<\/tr>\n

<\/td>\n<\/td>\n<\/tr>\n
\n

ARTICLE I INTRODUCTION<\/p>\n<\/td>\n

\n

1<\/p>\n<\/td>\n<\/tr>\n

<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
\n

Section 1.1<\/p>\n<\/td>\n

\n

Name of Plan<\/p>\n<\/td>\n

\n

1<\/p>\n<\/td>\n<\/tr>\n

<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
\n

Section 1.2<\/p>\n<\/td>\n

\n

Effective Date<\/p>\n<\/td>\n

\n

1<\/p>\n<\/td>\n<\/tr>\n

<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
\n

ARTICLE II DEFINITIONS<\/p>\n<\/td>\n

\n

1<\/p>\n<\/td>\n<\/tr>\n

<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
\n

Section 2.1<\/p>\n<\/td>\n

\n

“Account”<\/p>\n<\/td>\n

\n

1<\/p>\n<\/td>\n<\/tr>\n

<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
\n

Section 2.2<\/p>\n<\/td>\n

\n

“Annual Allocation”<\/p>\n<\/td>\n

\n

2<\/p>\n<\/td>\n<\/tr>\n

<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
\n

Section 2.3<\/p>\n<\/td>\n

\n

“Base Plan”<\/p>\n<\/td>\n

\n

2<\/p>\n<\/td>\n<\/tr>\n

<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
\n

Section 2.4<\/p>\n<\/td>\n

\n

“Change of Control”<\/p>\n<\/td>\n

\n

2<\/p>\n<\/td>\n<\/tr>\n

<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
\n

Section 2.5<\/p>\n<\/td>\n

\n

“Deferred Annual Allocation”<\/p>\n<\/td>\n

\n

2<\/p>\n<\/td>\n<\/tr>\n

<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
\n

Section 2.6<\/p>\n<\/td>\n

\n

“Eligible Employee”<\/p>\n<\/td>\n

\n

2<\/p>\n<\/td>\n<\/tr>\n

<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
\n

Section 2.7<\/p>\n<\/td>\n

\n

“Grandfathered Benefit”<\/p>\n<\/td>\n

\n

3<\/p>\n<\/td>\n<\/tr>\n

<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
\n

Section 2.8<\/p>\n<\/td>\n

\n

“Member”<\/p>\n<\/td>\n

\n

3<\/p>\n<\/td>\n<\/tr>\n

<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
\n

Section 2.9<\/p>\n<\/td>\n

\n

“Subsidiary”<\/p>\n<\/td>\n

\n

3<\/p>\n<\/td>\n<\/tr>\n

<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
\n

ARTICLE III BENEFITS<\/p>\n<\/td>\n

\n

3<\/p>\n<\/td>\n<\/tr>\n

<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
\n

Section 3.1<\/p>\n<\/td>\n

\n

Participation<\/p>\n<\/td>\n

\n

3<\/p>\n<\/td>\n<\/tr>\n

<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
\n

Section 3.2<\/p>\n<\/td>\n

\n

Amount of Annual Allocation<\/p>\n<\/td>\n

\n

3<\/p>\n<\/td>\n<\/tr>\n

<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
\n

Section 3.3<\/p>\n<\/td>\n

\n

Distribution of Amounts Credited for any Plan Year<\/p>\n<\/td>\n

\n

4<\/p>\n<\/td>\n<\/tr>\n

<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
\n

Section 3.4<\/p>\n<\/td>\n

\n

Deferral Election<\/p>\n<\/td>\n

\n

4<\/p>\n<\/td>\n<\/tr>\n

<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
\n

Section 3.5<\/p>\n<\/td>\n

\n

Adjustments to Deferred Annual Allocations<\/p>\n<\/td>\n

\n

5<\/p>\n<\/td>\n<\/tr>\n

<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
\n

Section 3.6<\/p>\n<\/td>\n

\n

Distributions of Member153s Account<\/p>\n<\/td>\n

\n

6<\/p>\n<\/td>\n<\/tr>\n

<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
\n

Section 3.7<\/p>\n<\/td>\n

\n

Vested Portion of Member153s Account<\/p>\n<\/td>\n

\n

6<\/p>\n<\/td>\n<\/tr>\n

<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
\n

Section 3.8<\/p>\n<\/td>\n

\n

Death of a Member<\/p>\n<\/td>\n

\n

7<\/p>\n<\/td>\n<\/tr>\n

<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
\n

Section 3.9<\/p>\n<\/td>\n

\n

Change of Control for Members Covered under the Executive Severance Plan<\/p>\n<\/td>\n

\n

7<\/p>\n<\/td>\n<\/tr>\n

<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
\n

ARTICLE IV PLAN ADMINISTRATION<\/p>\n<\/td>\n

\n

7<\/p>\n<\/td>\n<\/tr>\n

<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
\n

Section 4.1<\/p>\n<\/td>\n

\n

Committee<\/p>\n<\/td>\n

\n

7<\/p>\n<\/td>\n<\/tr>\n

<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
\n

Section 4.2<\/p>\n<\/td>\n

\n

Delegated Responsibilities<\/p>\n<\/td>\n

\n

8<\/p>\n<\/td>\n<\/tr>\n

<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
\n

Section 4.3<\/p>\n<\/td>\n

\n

Amendment and Termination<\/p>\n<\/td>\n

\n

8<\/p>\n<\/td>\n<\/tr>\n

<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
\n

Section 4.4<\/p>\n<\/td>\n

\n

Payments<\/p>\n<\/td>\n

\n

8<\/p>\n<\/td>\n<\/tr>\n

<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
\n

Section 4.5<\/p>\n<\/td>\n

\n

Non-Assignability of Benefits<\/p>\n<\/td>\n

\n

8<\/p>\n<\/td>\n<\/tr>\n

<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
\n

Section 4.6<\/p>\n<\/td>\n

\n

Plan Unfunded<\/p>\n<\/td>\n

\n

9<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

– i –<\/p>\n

\n

\n

TABLE OF CONTENTS<\/strong><\/p>\n

\n\n\n\n\n\n\n\n\n\n
<\/td>\n<\/td>\n\n

PAGE<\/strong><\/p>\n<\/td>\n<\/tr>\n

<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
\n

Section 4.7<\/p>\n<\/td>\n

\n

Applicable Law<\/p>\n<\/td>\n

\n

9<\/p>\n<\/td>\n<\/tr>\n

<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
\n

Section 4.8<\/p>\n<\/td>\n

\n

No Employment Rights Conferred<\/p>\n<\/td>\n

\n

9<\/p>\n<\/td>\n<\/tr>\n

<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
\n

Section 4.9<\/p>\n<\/td>\n

\n

Plan to Comply with Code Section 409A<\/p>\n<\/td>\n

\n

10<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

– ii –<\/p>\n

\n

\n<\/p>\n

COLGATE-PALMOLIVE COMPANY<\/strong><\/p>\n

\n<\/p>\n

SUPPLEMENTAL SAVINGS AND INVESTMENT PLAN<\/strong><\/p>\n

\n<\/p>\n

Colgate-Palmolive Company hereby continues the Supplemental Savings and
\nInvestment Plan, a non-qualified, unfunded plan which it maintains to provide
\nEligible Employees with a benefit which, in the absence of certain limitations
\nimposed by the Code, would have been provided under the Colgate-Palmolive
\nCompany Employees Savings and Investment Plan.<\/p>\n<\/p>\n<\/p>\n

ARTICLE I<\/strong><\/p>\n

\n

INTRODUCTION<\/strong><\/p>\n

\n<\/p>\n\n\n\n
\n

Section 1.1<\/p>\n<\/td>\n

\n

Name of Plan. The name of this Plan is the “Supplemental Savings and
\nInvestment Plan”.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/p>\n\n\n\n
\n

Section 1.2<\/p>\n<\/td>\n

\n

Effective Date. The effective date of this Plan is January 1, 1991. This
\namended and restated Plan is effective September 1, 2010, except as otherwise
\nprovided herein.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/p>\n

ARTICLE II<\/strong><\/p>\n

\n

DEFINITIONS<\/strong><\/p>\n

\n<\/p>\n

Capitalized terms which are not defined herein shall have the meaning given
\nto them in the Base Plan. Whenever reference is made herein to “this Plan”, such
\nreference shall be to this Supplemental Savings and Investment Plan.<\/p>\n<\/p>\n<\/p>\n\n\n\n
\n

Section 2.1<\/p>\n<\/td>\n

\n

“Account” shall mean a separate account maintained for a Member to record the
\nAllocation that is deferred under Section 3.4 of the Plan, and the earnings and
\nlosses allocable thereto. Separate sub-accounts shall be maintained within the
\nAccount for each Member to reflect the aggregate Allocations deferred for Plan
\nYears: (a) 1991 through 2002; (b) 2003 through 2009, plus the Allocations for
\n2010 attributable to Company Matching Contributions; and (c) 2011 and later,
\nplus the portion of the 2010 Allocations not included in (b) above, and in each
\ncase the respective earnings and losses thereon.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/p>\n

\n<\/p>\n\n\n\n
\n

Section 2.2<\/p>\n<\/td>\n

\n

“Allocations” shall mean the amount determined under Section 3.2 for any
\napplicable period.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/p>\n\n\n\n
\n

Section 2.3<\/p>\n<\/td>\n

\n

“Base Plan” shall mean the Colgate-Palmolive Company Employees Savings and
\nInvestment Plan, as amended from time to time.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/p>\n\n\n\n
\n

Section 2.4<\/p>\n<\/td>\n

\n

“Change of Control” shall have the meaning given to such term under the
\nColgate-Palmolive Company Executive Severance Plan, as amended from time to
\ntime.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/p>\n\n\n\n
\n

Section 2.5<\/p>\n<\/td>\n

\n

“Deferred Allocation” shall mean the amount described in Section 3.4.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/p>\n\n\n\n
\n

Section 2.6<\/p>\n<\/td>\n

\n

“Eligible Employee” shall mean (a) a non-union person who is employed by the
\nCompany on a full-time or part-time basis as of January 1 of a Plan Year and is,
\nor is expected to become, eligible to participate in the Base Plan during the
\nPlan Year, or (b) a United States Employee in Foreign Service as of January 1 of
\na Plan Year who is eligible to participate in the Base Plan, and whose
\nRecognized Earnings for such Plan Year in either case are expected to be limited
\nby Code section 401(a)(17).<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/p>\n

– 2 –<\/p>\n

\n

\n<\/p>\n\n\n\n
\n

Section 2.7<\/p>\n<\/td>\n

\n

“Grandfathered Benefit” shall mean the portion of the Member153s Account that
\nreflects the Allocations deferred for Plan Years prior to 2005, as adjusted for
\nearnings and losses thereon.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/p>\n\n\n\n
\n

Section 2.8<\/p>\n<\/td>\n

\n

“Member” shall mean an Eligible Employee who participates in this Plan
\npursuant to Article III. An Eligible Employee shall remain a Member under this
\nPlan until all amounts credited to his Account under the Plan have been paid.\n<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/p>\n\n\n\n
\n

Section 2.9<\/p>\n<\/td>\n

\n

“Subsidiary” means a domestic or foreign company, at least 50% of whose
\nissued and outstanding voting shares are directly or indirectly owned or
\ncontrolled by the Company.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/p>\n

ARTICLE III<\/strong><\/p>\n

\n

BENEFITS<\/strong><\/p>\n

\n<\/p>\n\n\n\n
\n

Section 3.1<\/p>\n<\/td>\n

\n

Participation<\/u>. An Eligible Employee will participate in this Plan for
\nany Plan Year if Recognized Earnings, as determined under the Base Plan for such
\nPlan Year, are limited by Code Section 401(a)(17). For any Plan Year for which a
\ndeferral election under Section 3.4 is permitted, a person who is hired and
\nbecomes an Eligible Employee after January 1 of such Plan Year is not eligible
\nto make a deferral election until the election for the following Plan Year.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/p>\n\n\n\n
\n

Section 3.2<\/p>\n<\/td>\n

\n

Amount of Allocations<\/u>. A Member153s Allocation for any applicable period
\nshall be equal to the difference between (a) and (b) below where: (a) is the sum
\nof (i) the Company Matching Contribution based on the Member153s elected
\npercentage under the Base Plan (for the 2010 Plan Year, determined as of the
\nfirst day of such Plan Year) and (ii) the Member153s Basic Retirement
\nContributions and Additional Basic Retirement Contributions that would have been
\nmade under the Base Plan for the applicable period on behalf of such Member, in
\neach case determined as if the Recognized Earnings used in calculating such
\ncontributions were not limited by Code section 401(a)(17); and (b) is the
\nCompany Matching Contribution, Basic Retirement Contributions and Additional
\nBasic Retirements Contributions actually made under the Base Plan for such
\nperiod. For the 2010 Plan Year, Company Matching Contributions under (a)(i) and
\n(b) above shall be based on the matching contribution formula in effect under
\nthe Base Plan on January 1, 2010; and the Company Matching Contribution under
\n(b) above shall be determined on the basis of the same elected percentage as in
\n(a) but with the Recognized Earnings subject to such elected percentage limited
\nby Code section 401(a)(17)).<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/p>\n

– 3 –<\/p>\n

\n

\n<\/p>\n\n\n\n
\n

Section 3.3<\/p>\n<\/td>\n

\n

Distribution of Amounts Credited for any Plan Year<\/u>. Absent a timely
\ndeferral election made in accordance with Section 3.4, a Member153s Allocation for
\nany Plan Year prior to 2010, and the Allocations for 2010 attributable to the
\nCompany Matching Contributions, shall be distributed to the Member on or about
\nDecember 15th of such Plan Year.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/p>\n\n\n\n
\n

Section 3.4<\/p>\n<\/td>\n

\n

Deferral Election<\/u>. For Plan Years prior to 2011, a Member may elect
\nbefore the beginning of the applicable Plan Year to defer distribution of his
\nAllocation for such Plan Year, resulting in a Deferred Allocation. For the 2010
\nPlan Year the election is limited to the portion of the Allocation attributable
\nto the Company Matching Contribution. Such election shall be made on a form
\nprovided by, and delivered to, the Committee prior to the first day of the Plan
\nYear. Amounts deferred hereunder shall be credited to the Member153s Account. A
\nMember153s Allocations for any applicable period beginning after 2010, and the
\n2010 Allocations not attributable to Company Matching Allocations, shall
\nautomatically be credited to the Member153s Account.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/p>\n

– 4 –<\/p>\n

\n

\n<\/p>\n\n\n\n
\n

Section 3.5<\/p>\n<\/td>\n

\n

Adjustments to Deferred Allocations<\/u>. Deferred Allocations shall be
\nadjusted as follows:<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/p>\n\n\n\n
<\/td>\n\n

(a)<\/p>\n<\/td>\n

\n

amounts allocated to the separate account under Section 2.1(a) shall be
\ncredited with earnings and losses based on the performance of shares of the
\nCompany153s Series B Convertible Preference Stock (including dividends thereon
\nwhich shall be deemed to be reinvested in such shares);<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/p>\n\n\n\n
<\/td>\n\n

(b)<\/p>\n<\/td>\n

\n

amounts allocated to the separate account under Section 2.1(b) for the period
\nJanuary 1, 2010 through September 30, 2010 shall be credited with interest at an
\nannual rate equal to the interest rate credited on long-term deferrals under the
\nColgate-Palmolive Company Deferred Compensation Plan for 2010.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/p>\n\n\n\n
<\/td>\n\n

(c)<\/p>\n<\/td>\n

\n

amounts allocated to the separate account under Section 2.1(b) after
\nSeptember 30, 2010 shall be credited with interest at an annual rate equal to
\n6.01%; and<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/p>\n

– 5 –<\/p>\n

\n

\n<\/p>\n\n\n\n
<\/td>\n\n

(d)<\/p>\n<\/td>\n

\n

amounts allocated to the separate account under Section 2.1(c) shall be
\ncredited with interest at the rate used under the Colgate-Palmolive Company
\nEmployees153 Retirement Income Plan for determining Interest Credits.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/p>\n\n\n\n
\n

Section 3.6<\/p>\n<\/td>\n

\n

Distribution of Member153s Account<\/u>. The vested portion of a Member153s
\nAccount shall be distributed as soon as practicable following the end of the
\nquarter in which the Member separated from service; provided, however, that
\neffective for distributions made on or after January 1, 2006, if the Member is a
\n“specified employee,” as determined in accordance with procedures adopted by the
\nCompany that reflect the requirements of Code section 409A(a)(2)(B)(i),
\ndistribution of the portion of the Member153s Account in excess of the
\nGrandfathered Benefit shall be deferred until the earlier of (i) the date that
\nis six months following the Member153s separation from service or (ii) the date of
\nthe Member153s death. Distributions shall be made in cash, except for the portion
\nof a Member153s Account described in Section 2.1(a) which shall be distributed in
\nshares of Company common stock.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/p>\n\n\n\n
\n

Section 3.7<\/p>\n<\/td>\n

\n

Vested Portion of Member153s Account<\/u>. Allocations to the Member153s
\nAccount for Plan Years prior to 2010, and Allocations for the 2010 Plan Year
\nattributable to the Company Matching Contribution, shall be 100% vested. All
\nother Allocations shall vest in accordance with the vesting rules specified in
\nthe Base Plan.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/p>\n

– 6 –<\/p>\n

\n

\n<\/p>\n\n\n\n
\n

Section 3.8<\/p>\n<\/td>\n

\n

Death of a Member<\/u>. Upon a Member153s death, the Member153s Account shall
\nbe distributed to the Member153s Beneficiary in a lump sum payment as soon as
\npracticable following the end of the quarter in which the Member died.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/p>\n\n\n\n
\n

Section 3.9<\/p>\n<\/td>\n

\n

Change of Control for Members Covered under the Executive Severance
\nPlan<\/u>. In the event of a Change of Control, a distribution of the Member153s
\nGrandfathered Benefit shall be made as soon as practicable following the Change
\nof Control provided the Member is then covered under the Executive Severance
\nPlan. If the Change of Control satisfies the requirements of Code section
\n409A(a)(2)(A)(v), a distribution of the portion of such Member153s Account in
\nexcess of the Grandfather Benefit shall be made as soon as practicable following
\nthe Change of Control.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/p>\n

ARTICLE IV<\/strong><\/p>\n

\n

PLAN ADMINISTRATION<\/strong><\/p>\n

\n<\/p>\n\n\n\n
\n

Section 4.1<\/p>\n<\/td>\n

\n

Committee<\/u>. This Plan shall be administered by the Employee Relations
\nCommittee, which shall have full authority to administer and interpret this
\nPlan, make payments and maintain records hereunder. The Employee Relations
\nCommittee may adopt or amend from time to time such procedures as may be
\nrequired for determinations required under the Plan. All interpretations of the
\nEmployee Relations Committee shall be final and binding on all parties including
\nMembers, Beneficiaries and the Company. Any complaint with regard to benefits
\nunder the Plan should be directed to the Employee Relations Committee,
\nColgate-Palmolive Company, 300 Park Avenue, New York, NY 10022. Such complaint
\nmust be filed in writing no later than 90 days after the date of retirement,
\ntermination or other occurrence related to the complaint.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/p>\n

– 7 –<\/p>\n

\n

\n<\/p>\n\n\n\n
\n

Section 4.2<\/p>\n<\/td>\n

\n

Delegated Responsibilities<\/u>. The Employee Relations Committee shall
\nhave the authority to delegate any of its responsibilities to such persons as it
\ndeems proper.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/p>\n\n\n\n
\n

Section 4.3<\/p>\n<\/td>\n

\n

Amendment and Termination<\/u>. The Company may amend, modify or terminate
\nthis Plan at any time, provided, however, that no such amendment, modification
\nor termination shall reduce the amount credited to a Member153s Account as of the
\ndate of such amendment or termination unless the Member becomes entitled to an
\namount equal to any such reduction under another plan (including the Base Plan),
\nprogram or practice adopted by the Company.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/p>\n\n\n\n
\n

Section 4.4<\/p>\n<\/td>\n

\n

Payments<\/u>. The Company will pay all benefits arising under this Plan
\nand all costs, charges and expenses relating thereto out of its general assets.\n<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/p>\n\n\n\n
\n

Section 4.5<\/p>\n<\/td>\n

\n

Non-Assignability of Benefits<\/u>. Except as otherwise required by law,
\nneither any benefit payable hereunder nor the right to receive any future
\nbenefit under this Plan may be anticipated, alienated, sold, transferred,
\nassigned, pledged, encumbered or subjected to any charge or legal process, and
\nif any attempt is made to do so, or a person eligible for any benefits under
\nthis Plan becomes bankrupt, the interest under this Plan of the person affected
\nmay be terminated by the Employee Relations Committee which, in its sole
\ndiscretion, may cause the same to be held or applied for the benefit of one or
\nmore of the dependents of such person or make any other disposition of such
\nbenefits that it deems appropriate and is consistent with Code Section 409A.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/p>\n

– 8 –<\/p>\n

\n

\n<\/p>\n\n\n\n
\n

Section 4.6<\/p>\n<\/td>\n

\n

Plan Unfunded<\/u>. Nothing in this Plan shall be interpreted or construed
\nto require the Company in any manner to fund any obligation to the Members or
\nBeneficiaries hereunder. Nothing contained in this Plan nor any action taken
\nhere under shall create, or be construed to create, a trust of any kind, or a
\nfiduciary relationship between the Company and the Members or Beneficiaries. Any
\nfunds which may be accumulated in order to meet any obligation under this Plan
\nshall for all purposes continue to be a part of the general assets of the
\nCompany. To the extent that any Member or Beneficiary acquires a right to
\nreceive payments from the Company under this Plan, such rights shall be no
\ngreater than the rights of any unsecured general creditor of the Company.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/p>\n\n\n\n
\n

Section 4.7<\/p>\n<\/td>\n

\n

Applicable Law<\/u>. All questions pertaining to the construction, validity
\nand effect of this Plan shall be determined in accordance with the laws of the
\nState of Delaware, to the extent not preempted by Federal law.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/p>\n\n\n\n
\n

Section 4.8<\/p>\n<\/td>\n

\n

No Employment Rights Conferred<\/u>. The establishment of the Plan shall
\nnot be construed as conferring any rights upon any Eligible Employee for
\ncontinuation of employment, nor shall it be construed as limiting in any way the
\nright of the Company to discharge any Eligible Employee or treat him without
\nregard to the effect which such treatment might have upon him under the Plan.\n<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/p>\n

– 9 –<\/p>\n

\n

\n<\/p>\n\n\n\n
\n

Section 4.9<\/p>\n<\/td>\n

\n

Plan to Comply with Code Section 409A<\/u>. Notwithstanding any provision
\nto the contrary in this Plan, each provision in this Plan shall be interpreted
\nto permit the deferral of compensation in accordance with Code section 409A, and
\nany provision that would conflict with such requirements shall not be valid or
\nenforceable.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

– 10 –<\/p>\n

\n

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