AMENDMENT NO





Exhibit (10)(k)(7)


 


AMENDMENT NO. 7


TO


ALLTEL CORPORATION PENSION PLAN


(January 1, 2001 Restatement)


 


WHEREAS,
ALLTEL Corporation (the “Company”) maintains the ALLTEL Corporation Pension
Plan, as amended and restated effective as of January 1, 2001, and as
subsequently amended, (the “Plan”); and


 


WHEREAS,
the Company desires further to amend the Plan;


 


NOW
THEREFORE, BE IT RESOLVED, that the Company hereby amends the Plan, effective
as set forth herein, in the respects hereinafter set forth:


 


1.     Effective
as of September 1, 2003, Section 13 of the Plan is amended by adding the
following Section 13.42 thereto:


 


13.42       Employees of Western Wireless
Corporation


 


(a)           Effective Date - September
1, 2003.


 


(b)           Account - None.


 


(c)           Minimum Normal Retirement Pension - None.


 


(d)           Minimum Early Retirement Pension - None.


 


(e)           Minimum Disability Retirement Pension - None.


 


(f)            Minimum Deferred Vested Pension - None.


 


(g)           Minimum Death Benefit - None.


 


(h)           Prior Plan Offset - Not
Applicable.


 


(i)            Provision Relative to Section 401(a)(12) of the Code - Not Applicable.


 


(j)            Miscellaneous - See
APPENDIX SS - SPECIAL PROVISIONS APPLICABLE TO CERTAIN EMPLOYEES OF WESTERN
WIRELESS CORPORATION, which follows immediately hereafter.


 


 


APPENDIX SS


SPECIAL PROVISIONS APPLICABLE TO CERTAIN EMPLOYEES


OF


WESTERN WIRELESS CORPORATION


 


Effective as of September 1, 2003, certain employees of
Western Wireless Corporation became employees of the Controlled Group.


 

















 


Notwithstanding any other provision of the Plan, effective
September 1, 2003, the Plan is modified as set forth below with respect to
active employees of Western Wireless Corporation who became employees of the
Controlled Group on September 1, 2003.


 


A.            Section 1.07 is modified by adding to the definition thereof the
following:


 


1.07SS    “Basic Compensation” shall include only
amounts earned on or after September 1, 2003.


 


A.            Section 1.14 is modified by adding to the definition thereof the
following:


 


1.14SS    “Compensation” shall include only amounts
earned on or after September 1, 2003.


 


B.            Section 1.37(g) is modified as follows:


 


1.37(g)SS               Vesting
Service


 


(a)           A Participant’s eligibility for benefits under the Plan shall be
determined by his period of Vesting Service, in accordance with the following:


 


(i)            Service
Prior to September 1, 2003:  An
Employee’s period(s) of employment with Western Wireless Corporation prior to
September 1, 2003, shall be counted as Vesting Service to the extent that such
periods would have counted under the Plan if such employment had been with the
Company.


 


(ii)           Service From
and After September 1, 2003:  In
accordance with the provisions of Section 1.37(g).


 


(iii)          Notwithstanding
any other provision of the Plan, there shall be no duplication of Vesting
Service (or Vesting Years of Service) by reason of any restoration of,
crediting of, or granting of service in respect of any single period or
otherwise.


 


C.            Section 1.37(d) is modified as follows:


 


1.37(d)SS               Benefit
Service


 


(a)           The amount of the benefit payable to or on behalf of a Participant shall
be determined on the basis of his Benefit Service, in accordance with the
following:


 


(i)            Benefit
Service Prior to September 1, 2003: 
None.


 


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(ii)           Benefit
Service From and After September 1, 2003: 
In accordance with the provisions of Section 1.37(d).


 


D.             Section 1.37(f) is modified as follows:


 


1.37(f)SS                Eligibility
Year of Service


 


(a)           A Participant’s Eligibility Years of Service under the Plan shall be
determined in accordance with the following:


 


(i)            Service
Prior to September 1, 2003:  An
Employee’s period(s) of employment with Western Wireless Corporation prior to
September 1, 2003, shall be counted as Eligibility Years of Service to the
extent that such periods would have counted under the Plan if such employment
had been with the Company.


 


(ii)           Service From
and After September 1, 2003:  In
accordance with the provisions of Section 1.37(f).


 


(iii)          Notwithstanding
any other provision of the Plan, there shall be no duplication of Eligibility
Years of Service under the Plan by reason of any restoration of, crediting of,
or granting of service in respect of any single period or otherwise.


 


2.             Effective as if originally included in Amendment No. 1 to the
Plan (January 1, 2001 Restatement), clause (d) of Section 1.27 (definition of
“Monthly Compensation”) of Appendix OO to Section 13.38 of the Plan is amended
to provide as follows:


 


(d)           Monthly Compensation (i) shall include commissions and
bonuses on account of sales when received by an Employee pursuant to a written
commitment of his employer, but (ii) shall not include any (A) overtime, (B)
differentials, (C) premiums, and (D) other similar types of payment.  In addition, effective January 1, 1995 with
respect to any non-union hourly Employee, Monthly Compensation shall
include team-oriented short-term incentives that are specifically
included by the Committee from time to time. 
In addition, effective January 1, 1996 with respect to any Employee who
is covered by a collective bargaining agreement with CWA Locals 3371 or 3372,
and effective January 1, 1997 with respect to any Employee who is covered by a
collective bargaining agreement with IBEW Local 463, Monthly Compensation shall
include team-oriented short-term incentives.  Monthly Compensation shall include imputed
compensation relating to an Employee’s approved excused absence time while
employed by an authorized bargaining agent for Employees covered by the Former
Plan or this Appendix OO.  The imputed
compensation will be credited in accordance with the agreement


 


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between
the Company and the authorized bargaining agent.  Monthly Compensation shall include installment payments under the
Termination Pay Program (TPP) or similar programs; provided, however, in no
event shall lump sum payments (if available) under these programs be treated as
Monthly Compensation.


 


IN
WITNESS WHEREOF, the Company, by its duly authorized officer, has caused this
Amendment No. 7 to ALLTEL Corporation Pension Plan (January 1, 2001 Restatement)
to be executed on this 10th day of December, 2003.


 


	
   

  	
  ALLTEL CORPORATION

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Scott T. Ford

  
	
   

  	
   

  	
  Title:

  	
  President & CEO