Company: LIN
Filing Date: 2025-04-30
Form Type: DEF 14A
Source: 0000950170-25-060925
Chunk: 68

Company: LINDE PLC
Filing Date: 2025-04-30
Form: DEF 14A
Chunk 68
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. This benefit formula considers an employee’s final average pay and years of service with the Company. For this purpose, the employee’s “final average pay” is generally equal to the employee’s highest three years of salary plus annual variable compensation out of their last ten years of service.                                                                                                |
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| · | Generally, an employee’s annual pension benefit is determined using a formula of 1.5% times the employee’s years of service with the Company times the employee’s final average pay. This is subject to several reductions, including offsets for the employee’s projected Social Security benefits and certain pension benefits payable under pension programs maintained by the Company’s subsidiaries or affiliates.                                                                                                                          |
| · | Unreduced pension benefits are generally payable from the Pension Plan in an annuity beginning following the employee’s separation from service after the earliest of (i) the employee’s reaching age 65, (ii) the employee’s reaching age 62 and completing at least 10 years of service with the Company, or (iii) when the sum of the employee’s age plus years of service with the Company equals at least 85. Mr. Strauss is currently eligible to immediately commence an unreduced pension benefit following his separation from service. |
| · | Traditional Design benefits under the SRIP are generally payable in a lump sum following the employee’s separation from service with the Company with the lump sum payment being actuarially equivalent to the employee’s accrued benefit under the SRIP determined using actuarial factors set forth in the Pension Program.                                                                                                                                                                                                                    |
| · | Traditional Design SRIP benefits become immediately vested and payable in a lump sum upon the occurrence of a change-in-control of the                                                                                                                                                                                                                                                                                                                                                                                                           |

| Company (as defined in the SRIP) unless the NEO has made a valid election to waive the right to receive an accelerated payment of their SRIP benefit in connection with a change-in-control and to instead receive such payment in the ordinary course. |

Account-Based Design (Applicable to Messrs. Lamba, White, Bichara and Durbin)

| · | This is a “cash balance” pension design that applies to eligible U.S. employees of the Company who are not covered under the Traditional Design program. The Company makes an annual notional “contribution” for each participant equal to 4% of eligible pay (salary plus annual variable compensation) and credits each participant’s account with interest annually based on the 30-year Treasury Bond rate in effect during