Avnet 2013 Annual Report Download - page 136

(i)
“Eligible Employee” means an individual who (1) is an “eligible employee” under the Avnet Pension Plan and
(2) is part of a select group of management and highly compensated employees who are designated by the Plan
Committee as eligible to accrue benefits under the Plan.
(j)
“
Employer
”
means the Company and any Affiliate that has adopted the Avnet Pension Plan.
(k)
“ERISA”
means the Employee Retirement Income Security Act of 1974, as amended.
(l)
“Interest Credit”
means the interest credited to a Participant's Restoration Account for a Plan Year, as described
in Section 4.01(b).
(m)
“
Interest Crediting Rate
”
means, for any Plan Year, the annual interest crediting percentage for such Plan Year
for Post-2010 Balances under the Avnet Pension Plan. (As of January 1, 2012, the Interest Crediting Rate is 4%
per year.)
(n)
“
Participant
”
means an individual who has commenced, and not ceased, participation in the Plan in accordance
with Section 3.01.
(o)
“Payment Date” means, for a Participant, the date as of which the Participant's benefit under the Plan is
scheduled to be paid, as prescribed by Section 4.02. For a Participant who is also a participant in the SERP, the
Payment Date shall be the “payment calculation date” determined under the SERP.
(p)
“Plan”
means this Avnet Restoration Plan, as set forth herein and amended from time to time.
(q)
“Plan Committee”
means the committee responsible for administering the Plan, as described in Section 5.01.
(r)
“
Plan Year
”
means the plan year under the Avnet Pension Plan.
(s)
“
Qualified Plan Limits
”
means the limits on benefits that may accrue or be paid under a tax-qualified defined
benefit plan pursuant to Section 401(a)(17) of the Code and Section 415 of the Code.
(t)
“Restoration Account” means, for each Participant, the book-entry account described in Section 4.01. The
establishment of a Restoration Account shall not result in assets being set aside for the benefit of any individual.
Immediately after the Participant's Payment Date, the balance of his Restoration Account shall be zero.
(u)
“
Restoration Contribution Credit
”
means the amount contributed to a Participant's Restoration Account each
Plan Year as described in Section 4.01(a).
(v)
“
Separation from Service
”
means the date of an individual's “separation from service” (within the meaning of
Section 409A(a)(2)(A)(i) of the Code) with the Employer and its Affiliates, as determined by the Company in
accordance with Treas. Reg. § 1.409A-1(h)(1). For purposes of the Plan:
(1)
An individual who is on a leave of absence (with the expectation that he will return) and does not have a
statutory or contractual right to reemployment shall be deemed to have had
Avnet Restoration Plan
2013 Restatement
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