Napa Auto Parts 2010 Annual Report Download - page 82

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Income in the manner described in Section 7.01(a) or Section 7.01(b), whichever is applicable payable on the Key Participant’s Normal
Retirement Date. In other words, if the Key Participant has completed 15 or more years of Credited Service prior to his or her Separation from
Service, Section 7.01(a) applies; otherwise Section 7.01(b) applies. The Additional Retirement Income shall be computed assuming (1) the
monthly Additional Retirement Income commenced on the Key Participant’s Normal Retirement Date (as defined in Section 7.01(c)) and (2) the
pension benefits, if any, were payable under Section 4.05 of the Pension Plan at Normal Retirement Date.”
13.
Effective January 1, 2011, changes to Article Seven have been amended as follows:
“Article Seven” has been changed to “Article Nine”.
Section 7.01 has been changed to Section 9.01.
The heading of Section 9.01 has been changed to read “Six Month Distribution Delay”.
A new Section 9.01(b) has been added, as follows:
“(b) For a Key Participant described in Article 7 (commencement of benefits upon Normal or Delayed Retirement Date) and a Key Participant described in
Section 8.01 (commencement of benefits upon Early Retirement Date), the Employer shall delay payment of the Additional Retirement Income until
the first day of the seventh month following the Key Participant’s Separation from Service with the Employer.”
Former Section 7.01(b) has been changed to Section 9.01(c) and the following changes have been made to that subsection:
“Section 7.01(a)” has been deleted from Section 9.01(c) and replaced with: “Section 9.01(a) or to a Key Participant described in Section 9.01(b)”.
The phrase “or Key Participant’s” has been added after the words “Key Employee’s” in the first sentence of Section 9.01(c).
The phrase “or the Key Participant” has been added after the words “Key Employee” in the second sentence of Section 9.01(c).
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