Visa 2008 Annual Report Download - page 265

ATTACHMENT A TO SECTION 3(a)(B)
OF THE VISA EXCESS RETIREMENT BENEFIT PLAN
(Amended and Restated Effective as of October 1,2003)
DEFINITIONS OF "SOCIAL SECURITY AMOUNT"
AND
"TEMPORARY SOCIAL SECURITY SUPPLEMENT"
"Social security amount" means the estimated monthly unreduced primary old age insurance amount which the Participant could expect to receive
commencing on the first day of the month next following his 65th birthday or Postponed Retirement Date, whichever is later (ignoring any earnings in the
calendar year of his 65th birthday or Postponed Retirement Date, as applicable) under the Social Security Act as in effect on the Participant's Retirement Date,
Termination Date, or date of death, whichever occurs first; provided, however, that in making the estimate it will be assumed that:
(a) if the Participant retires on his Normal or Postponed Retirement Date, covered earnings (wages under Section 3121(a)(l) of the Code) for the
calendar year prior to his Retirement Date will be assumed to be based on 12 times his Monthly Earnings at retirement divided by 1.06 or 12
times his Final Average Earnings, if greater. Covered earnings in each prior year will be based on the assumption that the Participant received 6%
annual increases in his Monthly Earnings (or Final Average Earnings) on each January 1;
(b) if the Participant retires on his Early Retirement Date or dies and his Spouse is eligible for the pre-retirement death benefit, covered earnings for
years prior to his Early Retirement Date or date of death will be determined as in subparagraph (a) above. Covered earnings in calendar years
coincident with and subsequent to this Early Retirement Date or date of death will be assumed to be zero;
(c) if the Participant terminates with a deferred vested accrued benefit, covered earnings for years prior to his Termination Date will be determined
as in subparagraph (a) above. Covered earnings coincident with and subsequent to his Termination Date will be assumed to be equal to the
greater of 12 times his Final Average Earnings or 12 times his Monthly Earnings on his Termination Date and to continue through the calendar
year prior to his Normal Retirement Date.
Social security amount will be determined on the earliest of the Participant's Retirement Date, Termination Date or date of death and shall forever thereafter
be fixed in computing the Participant's Basic Retirement Income unless the Committee shall authorize a change in accordance with future federal regulations.
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