Mondelez 2014 Annual Report Download - page 184
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2. Eligibility
2.1. Participation . Except as set forth in the definition of Participant above, each employee who is a Key Executive on the Effective Date shall
be a Participant in the Plan effective as of the Effective Date and each other employee shall become a Participant in the Plan effective as of the
date of the employee’s promotion or hire as a Key Executive or designation by the Committee as a Participant.
2.2. Duration of Participation . A Participant shall cease to be a Participant in the Plan if (i) the Participant terminates employment with the
Employer under circumstances not entitling him or her to Separation Benefits or (ii) the Participant otherwise ceases to be a Key Executive by
role or by action of the Committee. No Key Executive may be removed from Plan participation in connection with or in anticipation of a Change
in Control that actually occurs. A Participant who is entitled, as a result of ceasing to be a Key Executive of the Employer, to receive benefits
under the Plan shall remain a Participant in the Plan until the amounts and benefits payable under the Plan have been paid or provided to the
Participant in full.
3. Separation Benefits
3.1. Right to Separation Benefits . A Participant shall be entitled to receive from the Employer the Separation Benefits as provided in
Section 3.3, if:
(1) a Change in Control has occurred,
(2) the Participant’s employment by the Employer is terminated under circumstances specified in Section 3.2(a), whether the termination is
voluntary or involuntary, and
(3)
(i) such termination occurs after such Change in Control and on or before the second anniversary thereof, or
(ii) such termination is reasonably demonstrated by the Participant to have been initiated by a third party that has taken steps reasonably
calculated to effect a Change in Control or otherwise to have arisen in connection with or in anticipation of such Change in Control and
such Change in Control occurs within 90 days of the termination.
For avoidance of doubt, no Separation Benefits will be payable to a U.S. Participant, until the U.S. Participant has a “separation from service”
within the meaning of Treasury Regulation § 1.409A-1(h) regardless of whether the U.S. Participant has had a termination of employment.
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