Napa Auto Parts 2012 Annual Report Download - page 81

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10.
Article Eight is amended as follows:
In Section 8.01, a new paragraph (c) is added to the end of section 8.01:
“(c) Impact of Pension Plan Freeze. As a result of the Pension Plan Freeze, beginning January 1, 2014, the NR70 Key Employee will have his or her
benefit under the Plan determined using the Part B Formula in the same manner as the Part B Formula applies to a Key Participant. The benefit
payable under the Plan for a NR70 Key Employee as of his Normal Retirement Date cannot be less than the NR70 Key Employee’s Minimum
Benefit computed as of December 31, 2013 under Section 5.02 (see Section 5.02(c) for more specific guidance).”
In Section 8.02, a new paragraph (c) is added to the end of section 8.02:
“(c) Impact of Pension Plan Freeze. As a result of the Pension Plan Freeze, beginning January 1, 2014, the NR70 Key Employee will have his or her
benefit under the Plan determined using the Part B Formula in the same manner as the Part B Formula applies to a Key Participant. The benefit
payable under the Plan for a NR70 Key Employee as of his Normal Retirement Date cannot be less than the NR70 Key Employee’s Minimum
Benefit computed as of December 31, 2013 under Section 5.02 (see Section 5.02(c) for more specific guidance).”
11.
Article Nine is amended as follows:
In Section 9.01, a new paragraph (e) is added to the end of section 9.01:
“(e) Impact of Pension Plan Freeze. A NR70 Key Employee’s benefit is also subject to this Section 9.01. For example, if a NR70 Key Employee’s
benefit is determined under Section 5.02 (i.e., the NR70 Key Employee’s Minimum Benefit under Section 5.02 is greater than the benefit
determined under the Part B Formula), then Section 9.01(a) shall apply to the NR70 Key Employee. If a NR70 Key Employee’s benefit is
determined under Article 7 (i.e., the benefit determined under the Part B Formula is greater than the NR70 Key Employee’s Minimum Benefit
under Section 5.02), then Section 9.01(b) shall apply to the NR70 Key Employee.”
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