Exhibit 10.mmm


 


Adopted by the Cinergy Corp.


Benefits Committee on October 10, 2003


 


 


AMENDMENT TO THE


CINERGY CORP. EXCESS PENSION PLAN


 


 


The Cinergy Corp. Excess
Pension Plan, as amended and restated effective as of January 1, 1998, and as
amended from time to time (the “Plan”), is hereby amended effective as of
January 1, 2003.




(1)           Explanation
of Amendment


 


The Plan is amended to
clarify the relationship between the Plan and the Cinergy Corp. Non-Union
Employees’ Pension Plan in light of the Retirement Choice program.  The Plan is also amended to make certain
non-substantive changes.


 


(2)           Amendment


 


(a)                          Article 5 of the Plan is hereby amended by
deleting the phrase “Spouse’s Benefit” in the title thereof and substituting
therefor the phrase “Death Benefit.”


 


(b)                         Article 5 of the Plan is hereby amended by adding the following
Section 5.3 at the end thereof:


 


“5.3         Cash Balance Participant’s Death
Benefit


 


The
following rules shall apply upon the death of a Participant who is classified
as a “Cash Balance Participant” under Cinergy’s Pension Plan:


 


(a)                                    Spouse
Beneficiary.  If a death
benefit is payable under Article 6 of Cinergy’s Pension Plan on account of the
Participant’s death and the Participant’s Beneficiary (as defined in Cinergy’s
Pension Plan) at the date of the Participant’s death is his Spouse, such Spouse
shall receive a death benefit in an amount equal to the Actuarial Equivalent
(as defined in Cinergy’s Pension Plan) of the benefits that would otherwise
have been payable to the Participant under the Plan.  The form of the death benefit payable to the Spouse under the
Plan shall be the same form in which the Spouse’s benefit is payable under
Cinergy’s Pension Plan.  The payment of
the Spouse’s death benefit under the Plan shall be made, or shall commence, as
of the same date as the Spouse’s benefit under Cinergy’s Pension Plan is made
or commences.


 


(b)                                   Non-Spouse
Beneficiary.  If a death
benefit is payable under Article 6 of Cinergy’s Pension Plan on account of the
Participant’s death and the 


 


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Participant’s
Beneficiary (as defined in Cinergy’s Pension Plan) at the date of the
Participant’s death is any person other than the Participant’s Spouse, such
Beneficiary shall receive a death benefit in an amount equal to the Actuarial
Equivalent (as defined in Cinergy’s Pension Plan) of the benefits that would
otherwise have been payable to the Participant under the Plan.  The death benefit shall be payable in the
form of a single lump sum cash payment and shall be made as soon as
administratively practicable following the Participant’s death.


 


(c)                                  The first
sentence of Section 5.2 of the Plan is hereby amended by deleting the word
“annul” where it appears therein and substituting therefor the word “annual.”  The first sentence of Article 16 of the Plan
is hereby amended by deleting the word “Employee” where it appears therein and
substituting therefor the word “Employer.” 
The last sentence of Article 9 of the Plan is hereby deleted.


 


IN WITNESS WHEREOF, Cinergy
Corp. has caused this Amendment to be executed and approved by its duly
authorized officer effective as of the date set forth herein.


 


	
   

  	
   

  	
  /s/  Timothy J. Verhagen

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Timothy J. Verhagen

  
	
   

  	
   

  	
  Vice President of Human
  Resources

  



 


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