Napa Auto Parts 2010 Annual Report Download - page 72

Download and view the complete annual report

Please find page 72 of the 2010 Napa Auto Parts 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 115

  • 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

“(b) Vesting for Key Participants on or after January 1, 2011. A Key Participant who participates in the Plan shall become 100% vested in his or her
Additional Retirement Income (as provided in Article 7 and Article 8) on the earliest of the Vesting Dates described in Section 3.01(c) below.
(c) Vesting Dates. A Key Employee or a Key Participant described above shall become 100% vested on the earliest of the following Vesting Dates: “
Paragraphs (1) through (6) of former Section 3.01(a) are moved and now immediately follow new Section 3.01(c) except as amended below.
The phrase “or Key Participant” has been added after the words “The Key Employee” in paragraphs (1),(2),(3), and (4) of Section 3.01(c).
The phrase “or Key Participant’s” has been added after the words “The Key Employee’s” in paragraph 3.01(c)(5). The words “(see Article Nine)” have
been deleted and replaced with “and the Key Employee or Key Participant becomes entitled to a lump sum distribution pursuant to the terms of Article 11”.
The phrase “or Key Participant’s” has been added after the words “The Key Employee’s” in paragraph Section 3.01(c)(6) and “10.08” has been replaced
with “12.08”.
Former Section 3.01(b) is renumbered as Section 3.01(d).
A new first sentence has been added to Section 3.01(d): “Key Employees who have a Separation from Service prior to January 1, 2009 shall become vested
in their Supplemental Retirement Income in accordance with the terms of the Plan as it existed at the time of such Separation from Service”.
Former Section 3.01(c) is renumbered as Section 3.01(e).
The phrase “or Key Participant” has been added after the words “The Key Employee” in two places in the first sentence of Section 3.01(e). The word
“100%” has been added before the word “vested” in the first sentence of Section 3.01(e). Also in the first sentence of Section 3.01(e), the word “Three” has been
replaced with “3”.
The word “who” in the second sentence of Section 3.01(e) has been replaced with the phrase “or Key Participant (or their beneficiaries) if the Key Employee
or Key Participant”. The word “100%” has been added before the word “vested” in the second sentence of Section 3.01(e).
A paragraph (f) has been added to Section 3.01:
“(f) Normal Retirement Date for Key Participants . For Key Participants subject to the Part B Formula, a different definition of Normal Retirement
- 5 -