Napa Auto Parts 2010 Annual Report Download - page 77

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Section 12.05 (Noncompetition, Embezzlement, Etc.) be entitled to a monthly additional retirement income under the Part B Formula
(“Additional Retirement Income”) equal to (A) minus (B) as provided below.
(A) This subparagraph (A) is equal to the Applicable Percentage of the Key Participant’s Average Earnings as of the Key Participant’s
Normal Retirement Date less 50% of the Key Participant’s monthly Anticipated Social Security Benefit, measured in the form of a
single life annuity payable in monthly installments for the Key Participant’s life. The terms used in this subparagraph (A) are
defined below.
(B) This subparagraph (B) is equal to the monthly Normal Retirement Income which the Key Participant is actually entitled to receive
under the Pension Plan beginning on the Key Participant’s Normal Retirement Date measured in the form of a single life annuity
payable in monthly installments for the Key Participant’s life.
If the monthly amount in subparagraph (B) exceeds the monthly amount in subparagraph (A), no Additional Retirement Income shall be
paid under this Part B Formula of the Plan.
(3) The term “Applicable Percentage” referred to in paragraph (2)(A) above is based on the following table and the Key Participant’s Credited
Service on the date of his or her Separation from Service.
Key Participant’s Key Participant’s
Years of Applicable Years of Credited Applicable
Credited Service Percentage of Service at Percentage of
at Separation Average Separation from Average
from Service Earnings Service Earnings
15 30.0% 31 38.0%
16 30.5% 32 38.5%
17 31.0% 33 39.0%
18 31.5% 34 39.5%
19 32.0% 35 40.0%
20 32.5% 36 40.5%
21 33.0% 37 41.0%
22 33.5% 38 41.5%
23 34.0% 39 42.0%
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