Exhibit 10.22


 


SUPPLEMENTAL
RETIREMENT INCOME PLAN


 


FIRST
AMENDMENT


 


Section 3.3 of the Supplemental Retirement
Income Plan as amended and restated effective December 31, 2008, (the “Plan”)
is hereby amended as set forth below effective November 30, 2009.


 


3.3                                 Amount of
Post-409A Benefits.  The amount
of any benefits which otherwise would have been provided for a Participant
under the Retirement Plan after December 31, 2004, but which may not be
paid from such plan because of the limitations and restrictions imposed by the
Code, shall be calculated as provided in this subsection 3.3 and paid under
this Plan as provided in Section 4 below. 
Such benefits shall be equal to the excess of:  (a) the amount of retirement benefit
earned after December 31, 2004 which otherwise would have been provided
for the Participant (or in the event of his death, his Beneficiary) by the
Retirement Plan, determined without regard to the limitations of the Code and
by taking into account any compensation deferred after December 31, 2004
under The Allstate Corporation Deferred Compensation Plan and The Allstate
Corporation Deferred Compensation Plan for Employee Agents which is not
included as Annual Compensation (as defined in the Retirement Plan) under the
Retirement Plan; over (b) the actual amount of retirement benefit
determined for the Participant or his Beneficiary under the Retirement Plan
after December 31, 2004.


 


The amount of any Post-409A Benefits paid to a Participant shall be
determined on the Plan Payment Date for Post-409A Benefits using the lump sum
death benefit calculation methodology described in Section E.6.(A)(1) of
the Retirement Plan for final average pay benefits or Section 3.8(A) of
the Retirement Plan for cash balance benefits, as applicable, and the lump sum
methodology and actuarial methods in effect under the Retirement Plan.


 


The amount of any Post-409A Benefits paid to a Beneficiary shall be
determined on the death benefit payment date for Post-409A Benefits using the
lump sum death benefit provisions contained in Section E.6. of the
Retirement Plan for final average pay benefits or Section 3.8(A) of
the Retirement Plan for cash balance benefits, as applicable, and the lump sum
methodology and actuarial methods in effect under the Retirement Plan.


 


Notwithstanding
the foregoing, the lump sum interest rate and mortality table applicable to
participants who separate from service or die on or after age 55 after November 30,
2009 with a Plan Payment Date for Post-409A Benefits in the first six months of
a calendar year shall be the applicable lump sum interest rate and mortality
table under the Retirement Plan during the year prior to the Plan Payment Date
for Post-409A Benefits.  The lump sum interest rate and mortality table
applicable to participants who separate from service or die on or after age 55
after November 30, 2009 with a Plan Payment Date for Post-409A Benefits in
the last six months of a calendar year shall be the applicable lump sum
interest rate and mortality table under the Retirement Plan during the year in
which the Plan Payment Date for Post-409A Benefits occurs.