Napa Auto Parts 2010 Annual Report Download - page 81

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ARTICLE EIGHT – ADDITIONAL RETIREMENT INCOME; DISTRIBUTION
PRIOR TO NORMAL OR DELAYED RETIREMENT
8.01 Separation from Service on or after the Key Participant’s Early Retirement Date .
(a) This Section 8.01 applies to a Key Participant who has a Separation from Service on or after the Key Participant’s Early Retirement Date but
before the Key Participant’s Normal Retirement Date (as defined in Section 7.01(c)).
(b) Each Key Participant who has a Separation from Service with the Employer on or after his or her Early Retirement Date by reason of early
retirement or voluntary or involuntary termination shall, except as provided in Section 12.05 (Noncompetition, Embezzlement, Etc.), be entitled to
a monthly Additional Retirement Income in the manner described in Section 7.01(a) assuming(1) the monthly Additional Retirement Income
commenced on the first day of the month following the Key Participant’s Separation from Service with the Employer, (2) the pension benefits, if
any, were payable under Section 4.02 of the Pension Plan on the same date and (3) the Key Participant’s benefit in Section 7.01(a) is reduced by
the early retirement reduction factors set forth in the Pension Plan (see Section 4.02 of the Pension Plan).
8.02 Separation from Service prior to the Key Participant’s Early Retirement Date .
(a) This Section 8.02 applies to a Key Participant who has a Separation from Service (1) prior to the Key Participant’s Early Retirement Date but
(2) on account of the Key Participant’s Permanent Disability or the termination of the Plan (i.e., 100% vested). This Section 8.02 does not apply to
a Key Participant who has a Separation from Service due to death. Instead, see Section 10.01. This Section 8.02 does not apply to a Key
Participant who receives a lump sum distribution on account of a Separation from Service within two years of a Change in Control. Instead, see
Section 11.01. Benefits under this Section 8.02 will commence on the Key Participant’s Normal Retirement Date (as defined in Section 7.01(c))
regardless of the Key Participant’s age, years of Credited Service or years of Retirement Eligibility Service.
(b) Each Key Participant who has a Separation from Service with the Employer prior to his or her Early Retirement Date and in the manner described
in Section 8.02(a) by reason of voluntary or involuntary termination shall, except as provided in Section 12.05 (Noncompetition, Embezzlement,
Etc.), be entitled to a monthly Additional Retirement
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