Company: KODK
Filing Date: 2025-04-10
Form Type: DEF 14A
Source: 0001140361-25-013170
Chunk: 44

Company: EASTMAN KODAK CO
Filing Date: 2025-04-10
Form: DEF 14A
Chunk 44
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 a lump sum upon his termination of employment with us (less applicable withholding); this amount was fixed following our emergence from bankruptcy. Dr. Taber no longer has a traditional KRIP benefit as he took a lump sum in-service distribution in 2020. |

| (4) | Mr. Byrd had been employed with us for 9.68 years as of December 31, 2024. His accumulated benefit is the value of his account value under the cash balance arrangement in KRIP. |

| (5) | Mr. Michaels had been employed with us for 20.53 years as of December 31, 2024. His accumulated benefit is the value of his account value under the cash balance arrangement in KRIP. |

Tax-Qualified Retirement Plan: Kodak Retirement Income Plan (KRIP) We fund a tax-qualified defined benefit pension plan known as the Kodak Retirement Income Plan (KRIP) for all U.S. employees. Effective January 1, 2000, we amended KRIP to include a cash balance component. KRIP’s cash balance component covers employees hired before March 1, 1999 who elected that coverage and all new U.S. employees hired on or after March 1, 1999, including Messrs. Continenza, Bullwinkle, Byrd and Michaels. Dr. Taber participated in KRIP’s traditional defined benefit component. On January 1, 2015, we froze all benefit accruals in the traditional component of KRIP for all participants. Beginning on that date, accruals in KRIP were made under the cash balance component for all participating employees in an amount equal to 7% of the employee’s monthly pay, which had previously been 4% for cash balance participants. The cash balance accrual rate was increased from 7% to 9% effective January 1, 2020, and from 9% to 12% effective January 1, 2022, along with lump sum additional pay credits, one effective May 31, 2022 and a second one effective June 30, 2023. Accruals for Dr. Taber since January 1, 2015 have been made under the cash balance component. Cash Balance Component Under KRIP’s cash balance component, a hypothetical account is established for each participating employee and, for every month the employee works, the employee’s account is credited with an amount equal to a percentage of the employee’s monthly pay (i