APS 2015 Annual Report Download - page 234

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Section 1.409A‑3(d), such payment will be treated as made within the time period specified in the Plan (for example, in situations
where the calculation of the amount payable is not administratively practicable, the payment will be treated as made upon the date
specified under the Plan if the payment is made during the first taxable year in which the calculation of the amount is practicable). In
addition, if a distribution is not made due to a dispute with respect to such distribution, the distribution may be delayed in accordance
with Treasury Regulation Section 1.409A‑3(g).
The Company may accelerate the distributions described in Article 5 upon the occurrence of the events described in Treasury
Regulation Section 1.409A‑3(j)(4), which include, without limitation, an accelerated distribution in the event the Plan fails to meet the
requirements of Section 409A.
ARTICLE 8
FUNDING
Benefits under this Plan shall be payable from the general assets of the Company and shall not be segregated in a trust fund or
otherwise funded in any manner prior to the time of payment. No Plan participant shall have any vested rights hereunder nor any right
hereunder to any specific assets of the Company.
ARTICLE 9
ADMINISTRATION
The Plan will be administered by the Administrative Committee that administers the Retirement Plan. Except as otherwise
expressly provided in this Plan, the Administrative Committee shall have the same powers and responsibilities as it has under Sections
10.3 and 10.4 of the Retirement Plan. Claims for benefits under the Plan shall be determined in the manner set forth in Article 11 of the
Retirement Plan.
ARTICLE 10
AMENDMENT AND TERMINATION OF THE PLAN
The Plan may be amended in whole or in part, prospectively or retroactively, by action of the Company’s Board of Directors,
and may be terminated at any time by action of the Board of Directors in accordance with the requirements of Code Section 409A and
the regulations issued thereunder; provided, however, that no such amendment or termination shall reduce any amount payable
hereunder to the extent such amount accrued prior to the date of amendment or termination. All amendments shall be in writing,
approved by the Company’s Board of Directors and executed by a duly authorized officer of the Company.
ARTICLE 11
ASSIGNMENT
15