Company: PLPC
Filing Date: 2025-03-21
Form Type: DEF 14A
Source: 0001628280-25-014223
Chunk: 32

Company: PREFORMED LINE PRODUCTS CO
Filing Date: 2025-03-21
Form: DEF 14A
Chunk 32
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 arrangements upon retirement, resignation, death, disability, or other termination for other plans. Profit-Sharing Plan Upon termination of employment, the employee may receive vested contributions plus income earned on those contributions under the Company’s Profit-Sharing Plan. Upon disability, the IRS allows withdrawals to be made if the employee became permanently disabled. Upon death, the vested account balance of the employee will be paid to the designated beneficiaries. Non-Qualified SERP Our SERP was established in 1995 to compensate employees whose benefits in the Profit-Sharing Plan were reduced due to IRS limitations on compensation. In 2018, the Company opened an account with a third-party administrator, in which the participants are able to hypothetically invest their unfunded liability balances in various investment options, primarily mutual funds. Upon termination of employment, retirement, death, or disability, the employee may receive vested contributions plus any gains or losses on those contributions, based on pre-elections made upon the opening of their accounts. Alongside the liability accounts, there is a Company Owned Life Insurance policy, in which the Company has investments shadowing those of the liabilities, in order to mitigate the risk associated with the unfunded liability. DSP We established a rabbi trust in 2009, managed by a third-party, which is a deferred compensation arrangement where our directors and officers are permitted to defer the receipt of shares earned. The value of a participant’s deferral is based on the market value of our common shares at the time of the deferral. Upon termination of employment, retirement, death, or disability, the director's or officer may receive a settlement made in our common shares, based on pre-elections as determined at the time of deferral.

| 262024 Proxy Statement | PREFORMEDLINEPRODUCTSCOMPANY |

| Director Compensation |

Each director who is not an employee of the Company received an annual retainer fee of $45,000 and an annual award of approximately $75,000 in common shares, to be paid just prior to the completion of each calendar year. Directors who are also employees are not paid a director’s fee. Additionally, board members who serve on committees are also paid an annual retainer of $10,000 per committee per year and chairpersons of each committee are paid an additional annual retainer of $10,000. Under the Board Stock Ownership Plan, committee members are required to maintain ownership of the Company’s common shares with a minimum aggregate market value of three times the amount of the annual cash retainer paid to a director for Board service