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Title: |
Executive Supplemental Plan |
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Entities: |
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Date: |
2003 |
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Preview shows 4KB of 27KB total |
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Price: |
$43 |
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ID: |
#330035 |
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ECKERD CORPORATION
EXECUTIVE SUPPLEMENTAL PLAN
EFFECTIVE MARCH 21, 2002
=========================================================
DOCUMENT HISTORY
This Plan was adopted by the Board of Directors of Eckerd
Corporation on May 31, 2002, as amended on the following
dates:
None
=========================================================
{PAGE}
ECKERD CORPORATION
EXECUTIVE SUPPLEMENTAL PLAN
TABLE OF CONTENTS
{Table}
{Caption}
Page
----
{S} {C}
ARTICLE ONE - Definitions............................................ 1
ARTICLE TWO - Eligibility and Participation ......................... 5
ARTICLE THREE - Benefits ............................................ 6
ARTICLE FOUR - Type of Plan.......................................... 9
ARTICLE FIVE - Plan Administrator.................................... 10
ARTICLE SIX - Miscellaneous.......................................... 11
{/Table}
i
{PAGE}
ARTICLE ONE
DEFINITIONS
For the purposes of the Plan, the following terms shall have the
following meanings:
Age: Actual age in complete years plus days in an incomplete year as
determined on the earlier of an Officer's Separation from Service or the date he
is no longer an Officer. If a Participant who was a former Officer again becomes
an Officer, his Age shall include the period of time that he was a former
Officer.
Associate: Any person who is classified as an associate and employed by
a Controlled Group Member if the relationship between a Controlled Group Member
and such person would constitute the legal relationship of employer and
employee.
Average Final Pay: The average annual Compensation of a Participant
with respect to the 3 calendar years of his highest Compensation determined by
taking into account (a) the Compensation attributable to his Service in the
calendar year in which occurs his Separation from Service, and (b) the
Compensation during either of the following, whichever is appropriate:
(i) the 9 full calendar years of Service immediately preceding the
calendar year in which occurs his Separation from Service; or
(ii) if he has less than 9 full calendar years of Service, the
entire number of full calendar years of such Service
immediately preceding the calendar year in which occurs his
Separation from Service.
If such Participant has less than 3 full calendar years of Service
prior to the calendar year in which occurs his Separation from Service, Average
Final Pay shall mean the aggregate Compensation earned with respect to his
Service immediately preceding the calendar year in which occurs his Separation
from Service, divided by the total number of full months of such Service,
multiplied by 12.
Beneficiary: The one or more persons or entities entitled to receive a
distribution of a Participant's interest in the Plan in the event of his death.
Benefit Commencement Date: The date on which payment of a Participant's
retirement benefits under the Plan begin which shall be the first day of the
month after the later of the Participant's (a) Separation from Service or (b)
attainment of age 60, unless the Participant defers commencement of benefits
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