Freddie Mac 2014 Annual Report Download - page 303

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(b) Elimination of position;
(c) A company divestiture or closure; and
(d) Retirement (as defined in the Transitional Plan or Thrift/401(k) Plan, as
applicable).
2.25 Roth Contribution. The term “Roth Contribution” shall have the meaning set
forth in the Thrift/401(k) Plan.
2.26 Section 415 Limitation. The limitation on annual additions that are permitted to be
made to an individual’s account(s) under the Transitional Plan or the Thrift/401(k) Plan, as
applicable, pursuant to Code section 415.
2.27 SERP. The Federal Home Loan Mortgage Corporation Supplemental Executive
Retirement Plan, as amended and restated January 1, 2008.
2.28 Spouse. The person legally married to the Participant on the date of the
Participant’s death under the laws of the jurisdiction in which the marriage was entered.
2.29 Supplemental Benefit Credit. The amount credited to a Participant’s Account for
a Plan Year to compensate the Participant for the portion of the Employer Contributions lost due
to (a) the Compensation cap as set forth in Code section 401(a)(17), and (b) the Section 415
Limitation, in accordance with the terms set forth in Article IV.
2.30 Termination of Employment. A separation from the service of the Corporation
which constitutes a “separation from service” within the meaning of Treasury Regulation
§1.409A-1(h) and any successor or other applicable regulation under Code section 409A.
2.31 Thrift/401(k) Plan. The Federal Home Loan Mortgage Corporation Thrift/401(k)
Savings Plan, as may be amended from time to time.
2.32 Total and Permanent Disability. A Participant shall be considered as totally and
permanently disabled for purposes of the Plan if the Participant has been determined by the
Social Security Administration to be totally disabled.
2.33 Transitional Plan. The Federal Home Loan Mortgage Corporation Transitional
Retirement Savings Plan, as may be amended from time to time.
ARTICLE III
Eligibility and Participation
3.1 Eligibility for Participation. Subject to Section 3.2, in order to be eligible for this
Plan, an Executive must be eligible to participate in the Transitional Plan or the Thrift/401(k)
Plan, provided, however, that the Administrator reserves the discretion to limit an Executive’s
ability to participate in this Plan. In order to become a Participant the Executive shall complete
such enrollment process as may be required by the Administrator. An Executive shall remain a
Participant in the Plan until such time as all benefits payable under the Plan have been paid in