ADP 2008 Annual Report Download - page 96

Download and view the complete annual report

Please find page 96 of the 2008 ADP annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 105

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105

Supplement A
1.1 In General
(a) As of the Spin-off date, Participants transferring to Broadridge Financial Solutions, Inc. (“Broadridge”) are no longer eligible to
participate in the Plan, except executive with employee identification number 100600 (“Executive”).
(b) As of the Spin-off date, Executive’ s accrued benefit under the Plan shall be the Executive’ s projected accrued benefit at the age of
65 based upon terms and factors agreed upon in Appendix A.
(c) If Executive voluntarily terminates employment with Broadridge prior to age 65, Executive’ s accrued benefit will be re-calculated to
what Executive would have accrued from the Spin-off date to the last day employed at Broadridge.
(d) Executive will no longer be an eligible Participant of the Plan if Executive becomes a participant in any supplemental officers
retirement plan sponsored by Broadridge, whose terms are substantially similar to the Plan as of the Spin-off date. Such determination shall be
made solely by the Company.
1.2 Distributions
(a) Executive’ s benefits shall commence on his 65th birthday, whether or not Executive is still employed at Broadridge.
(b) Executive’ s elections shall be irrevocable.
14