APS 2015 Annual Report Download - page 212

Download and view the complete annual report

Please find page 212 of the 2015 APS 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 264

  • 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
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148
  • 149
  • 150
  • 151
  • 152
  • 153
  • 154
  • 155
  • 156
  • 157
  • 158
  • 159
  • 160
  • 161
  • 162
  • 163
  • 164
  • 165
  • 166
  • 167
  • 168
  • 169
  • 170
  • 171
  • 172
  • 173
  • 174
  • 175
  • 176
  • 177
  • 178
  • 179
  • 180
  • 181
  • 182
  • 183
  • 184
  • 185
  • 186
  • 187
  • 188
  • 189
  • 190
  • 191
  • 192
  • 193
  • 194
  • 195
  • 196
  • 197
  • 198
  • 199
  • 200
  • 201
  • 202
  • 203
  • 204
  • 205
  • 206
  • 207
  • 208
  • 209
  • 210
  • 211
  • 212
  • 213
  • 214
  • 215
  • 216
  • 217
  • 218
  • 219
  • 220
  • 221
  • 222
  • 223
  • 224
  • 225
  • 226
  • 227
  • 228
  • 229
  • 230
  • 231
  • 232
  • 233
  • 234
  • 235
  • 236
  • 237
  • 238
  • 239
  • 240
  • 241
  • 242
  • 243
  • 244
  • 245
  • 246
  • 247
  • 248
  • 249
  • 250
  • 251
  • 252
  • 253
  • 254
  • 255
  • 256
  • 257
  • 258
  • 259
  • 260
  • 261
  • 262
  • 263
  • 264

Participant returns to a paid employment status. Upon such expiration or return, deferrals shall resume for the remaining portion of the
Plan Year in which the expiration or return occurs, based on the deferral election, if any, made for that Plan Year prior to the leave of
absence.
8.3 Definition of Leave of Absence. Whether a Participant is on a leave of absence shall be determined in accordance with
the default rules under the regulations issued pursuant to Section 409A.
ARTICLE 9
Termination, Amendment or Modification
9.1 Termination. Subject to the requirements of Section 409A, each Employer reserves the right to terminate the Plan at any
time with respect to Participants whose services are retained by that Employer. Upon the termination of the Plan in accordance with the
requirements of Section 409A, a Participant’s Account Balance and Discretionary Credit Account, if any, shall be paid out in
accordance with the regulations issued under Section 409A. The termination of the Plan shall not adversely affect any Participant or
Beneficiary who has become entitled to the payment of any benefits under the Plan as of the date of termination.
9.2 Amendment. The Company may, at any time, amend or modify the Plan in whole or in part with respect to any
Employer or all Employers, provided, however, that no amendment or modification shall be effective to the extent it would cause an
amount to become taxable or be subject to additional taxes on account of such amendment under Section 409A.
ARTICLE 10
Administration
10.1 Committee Duties. This Plan shall be administered by a Committee, which shall consist of persons approved by the
Human Resources Committee of the Company’s Board of Directors. Members of the Committee may be Participants under this Plan.
The Committee shall also have the discretion and authority to make, amend, interpret, and enforce all appropriate rules and regulations
for the administration of this Plan and decide or resolve any and all questions including interpretations of this Plan, as may arise in
connection with the Plan.
10.2 Agents. In the administration of this Plan, the Committee may, from time to time, employ agents and delegate to them
such administrative duties as it sees fit and may from time to time consult with counsel who may be counsel to any Employer.
10.3 Binding Effect of Decisions. The decision or action of the Committee with respect to any question arising out of or in
connection with the administration, interpretation and application
14