Sunoco 2015 Annual Report Download - page 158

Download and view the complete annual report

Please find page 158 of the 2015 Sunoco annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 173

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148
  • 149
  • 150
  • 151
  • 152
  • 153
  • 154
  • 155
  • 156
  • 157
  • 158
  • 159
  • 160
  • 161
  • 162
  • 163
  • 164
  • 165
  • 166
  • 167
  • 168
  • 169
  • 170
  • 171
  • 172
  • 173

PAGE 3
Section 2.15 ERISA. "ERISA" means the Employee Retirement Income Security Act of
1974, as amended.
Section 2. 16 Form of Payment. "Form of Payment" means a single sum distribution.
Section 2.17 Hypothetical Investment Benchmark. "Hypothetical Investment
Benchmark" means the phantom investment benchmarks that are used to measure the earnings
credited to and/or losses debited from a Participant's Account.
Section 2.18 Participant. "Participant" means either Robert W. Owens or Michael J,
Hennigan, provided the relevant offer letter for each such individual is executed.
Section 2.19 Plan Year. "Plan Year" means a twelve-month period beginning January 1 and
ending the following December 31.
Section 2.20 Separation from Service. "Separation from Service" means the termination
of a Participant's employment with the Employer and all Affiliates for any reason whatsoever. A
Participant shall be considered to have terminated his employment if it is reasonably anticipated
that the bona fide level of services he would perform after a certain date (whether performed as an
employee or independent contractor) would permanently decrease to no more than 49 percent of
the average rate of services performed prior to such reduction over the immediately preceding 12-
month period. If a Participant ceases or reduces services under a bona fide leave of absence, a
Separation from Service occurs after the close of the 6-month anniversary of such leave, provided
however that the Separation from Service shall be delayed to the extent that the employee has a
statutory or contractual right to reemployment. Determination of whether a Separation from Service
occurs shall be made in accordance with Treasury Regulation Section 1.409A-1(h). "Separate from
Service" shall also be used herein to refer to a Separation from Service as defined above, as the
context requires.
Section 2.21 Trust. "Trust" means the irrevocable grantor trust established under the Trust
Agreement.
Section 2.22 Trust Agreement. "Trust Agreement" means the agreement entered into
between the Employer and the Trustee pursuant to Article VIII.
Section 2.23 Trust Fund. "Trust Fund" means the funds and properties held pursuant to the
provisions of the Trust Agreement, together with all income, profits and increments thereto.
Section 2.24 Trustee. "Trustee" means the independent commercial trustee or trustees
qualified and acting under the Trust Agreement at any time.