Freddie Mac 2014 Annual Report Download - page 306

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(b) For each Plan Year in which a Participant participates in the Thrift/401(k)
Plan, makes a Roth Contribution under the Thrift/401(k) Plan, and meets the other
requirements set forth in this Plan, the Participant’s Account shall be credited with a
Supplemental Benefit Credit in an amount equal to the excess, if any, of (i) over (ii),
where:
(i) is the amount of the Employer Contributions that would have been
made to the Thrift/401(k) Plan for the Plan Year in question without regard to the
Section 415 Limitation and the cap described in Code section 401(a)(17) on
Compensation under the Thrift/401(k) Plan, and
(ii) is the amount of the Employer Contribution that was actually made
to the Participant’s account under the Thrift/401(k) Plan for the Plan Year in
question with the application of the limitations, caps, and exclusions referred to in
subparagraph (i) above.
4.3 Accrual of Supplemental Benefit Credit.
(a) The Supplemental Benefit Credit for each Participant as calculated
pursuant to Sections 4.1 and 4.2 shall be credited to the Participant’s Account (as to
timing) in a manner consistent with that in which an Employer Contribution would have
been made by the Corporation on the Participant’s behalf to the Transitional Plan or
Thrift/401(k) Plan, as applicable, provided that the Participant will forfeit the
Supplemental Benefit Credit related to the Transitional Employer Contributions and
Fixed Employer Contributions under the Transitional Plan, and any related Deemed
Earnings, if the Participant is not employed by the Employer on the last day of the
applicable Plan Year, except as provided in subsections (b) and (c) below. For the
avoidance of doubt, a Participant will not forfeit accrued Supplemental Benefit Credits
related to the Matching Contributions under the Thrift/401(k) Plan, or related Deemed
Earnings, upon the Participant’s Separation from Service. Deemed Earnings for a
Supplemental Benefit Credit shall not begin accruing until such time as the corresponding
Employer Contributions under the Transitional Plan or Thrift/401(k) Plan, as applicable,
are credited to Participant accounts under the Transitional Plan or Thrift/401(k) Plan, as
applicable, subject to Section 5.3 in the case of Total and Permanent Disability and
Section 5.2 in the case of death.
(b) Notwithstanding subsection (a) above, if a Participant has a Qualifying
Termination, the Participant will be eligible to receive a Supplemental Benefit Credit
related to the Transitional Employer Contributions and Fixed Employer Contributions
under the Transitional Plan pursuant to Sections 4.1 and 4.2 for the Plan Year in which
the Qualifying Termination occurs, at the same time and on the same schedule as
regularly situated Participants.
(c) Notwithstanding subsection (a) above, if a Participant experiences a Total
and Permanent Disability or dies, the Participant (or the Participant’s Beneficiary in the
case of death) will be eligible to receive a Supplemental Benefit Credit related to the
Transitional Employer Contributions and Fixed Employer Contributions under the