exv10w15







Exhibit 10.15




SALARY DEFERRAL & SAVINGS RESTORATION

PLAN




Originally Adopted — April 26, 1994




Last
Amended – January 1, 2009




E. I. du Pont de Nemours and Company






 






 



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SALARY DEFERRAL & SAVINGS RESTORATION PLAN




I. PURPOSE





     The purpose of this Plan is to provide an eligible employee with the opportunity to defer,
until termination of employment, receipt of salary that, because of compensation limits
imposed by law, is ineligible to be considered in calculating benefits within the
Company’s tax-qualified defined contribution plan(s) and thereby recover benefits lost
because of that restriction.



II. ADMINISTRATION




     The administration of this Plan is vested in the Benefit Plans Administrative Committee
appointed by the Company. The Committee may adopt such rules as it may deem necessary for
the proper administration of the Plan, and may appoint such person(s) or group(s) as may
be judged necessary to assist in the administration of the Plan. The Committee’s decision
in all matters involving the interpretation and application of this Plan shall be final.
The Committee shall have the discretionary right to determine eligibility for benefits
hereunder and to construe the terms and conditions of this Plan.



III. ELIGIBILITY





     An employee of the Company who is Grade 7 or above (or equivalent level for a
participating subsidiary) shall be eligible to participate in this Plan (hereinafter
“Participant”). Effective January 1, 2007, employees eligible to participate in the
Retirement Savings Plan shall not be eligible to participate in this Plan.




     For purposes of this Plan, the term “Company” means E.I. du Pont de Nemours and Company,
any wholly-owned subsidiary or part thereof and any joint venture, partnership, or other
entity in which E.I. du Pont de Nemours and Company has an ownership interest, provided
that such entity (1) adopts this Plan with the approval of the E.I. du Pont de Nemours and
Company and (2) agrees to make the necessary financial commitment in respect of any of its
employees who become Participants in this Plan.



IV. PARTICIPANTS’ ACCOUNTS





	 	(A)	 	          Participant Contributions. A Participant may elect to defer receipt of a percentage
of compensation (as defined in the tax-qualified defined contribution in which the
individual participates) in excess of the amount prescribed in Internal Revenue Code
Section 401(a)(17), and have the dollar equivalent of the deferral percentage
credited to a Participant Account under this Plan. The deferral percentage elected
under this Plan










 




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	 	 	 	shall not exceed 6%. Except as provided below, such deferral election will be made
prior to the beginning of each calendar year and will be irrevocable for that
calendar year.
	 
	 	 	 	          For purposes of a Participant’s first year of participation in this Plan, the
compensation deferral election must be made within 30 days of the date the employee
first becomes eligible to participate in the Plan, and no later than 30 days prior
to the first day of the month for which compensation is deferred, and will be
irrevocable for the remainder of that calendar year.
	 
	 	(B)	 	          Company Contributions. To the extent that a Participant makes a deferral election
under the terms of subparagraph (A) above, the Company will credit to that
Participant’s Account in this Plan an amount equivalent to the company matching
contribution that would be provided to that Participant under the terms of the
Company’s tax-qualified defined contribution plan(s) in which (s)he is participating.
	 
	 	(C)	 	          Company Non-elective Contributions. For each employee eligible to participate in
this Plan, who is eligible to participate in the Savings and Investment Plan, whether
or not he or she makes a deferral election under the terms of subparagraph (A) above,
the Company will credit to that Participant’s Account in this Plan an amount equal to
3% of the employee’s compensation (as defined in the Savings and Investment Plan) in
excess of the amount prescribed in Internal Revenue code Section 401(a) (17).
	 
	 	(D)	 	          Earnings Equivalents. Credits for Participant Contributions and Company
Contributions shall be treated as having been invested in one or more of the
investment options available for the ongoing deposit of new employee contributions in
the Savings & Investment Plan of E. I. du Pont de Nemours and Company. Additional
credit (or debit) amounts will be posted to the Participant’s Account in this Plan
based on the performance of those investment options.
	 
	 	 	 	          The Participant shall have the right to:






	 	(1)	 	designate which of the available investment options are to be used in
valuing his/her Account under this Plan, subject to the rules governing
investment direction in the Savings & Investment Plan of E. I. du Pont de
Nemours and Company; and/or
	 
	 	(2)	 	change the designated investment options used in valuing his/her
Account under this Plan, subject to the rules governing investment










 




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	 	 	 	direction and/or transfers among funds in the Savings & Investment Plan of
E. I. du Pont de Nemours and Company.






	 	(E)	 	          Credits to Accounts. Participant Contributions, Company Contributions and Earnings
Equivalents shall be credited (or debited) to the Participant’s Account under this
Plan as unfunded book entries stated as cash balances, and will not be payable to
Participants until such time as employment with the Company terminates. The cash
balances in Participant Accounts shall be unfunded general obligations of the
Company, and no Participant shall have any claim to or security interest in any asset
of the Company on account thereof.





V. VESTING





     Participant Contributions and Company Contributions and Earnings Equivalents shall be
vested at the time such amounts are credited to the Participant’s Account. Company
Non-elective Contributions and Earnings Equivalents thereto shall be vested after the
employee completes 3 years of service, as defined in the Savings and Investment Plan.



VI. PAYMENT OF BENEFITS





     Amounts payable under this Plan shall be distributed in one of the following forms and at
a time as elected by the Participant: (1) a lump sum at termination of employment, or in
any year up to five years after termination of employment; or (2) annual installments for
up to 15 years, beginning in the year of termination of employment or in any of the first
five years following termination of employment.




     If the Participant does not make a valid election as to form and time of distribution, or
upon the Participant’s death, amounts payable shall be delivered in a cash lump sum as
soon as practical after termination of employment or death. Notwithstanding any
provision of this Plan to the contrary, amounts payable to an officer of the Company shall
be paid no sooner than the sixth month anniversary of the employee’s termination date.
All payments under this Plan shall be made by, and all expenses of administering this Plan
shall be borne by, the Company.



VII. NON-ASSIGNMENT





No assignment or alienation of the rights and interests of participants, beneficiaries and
survivors under this Plan will be permitted or recognized under









 




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any circumstances. Plan benefits can be paid only to participants, beneficiaries or
survivors.



VIII. RIGHT TO MODIFY





     The Company reserves the right to change or discontinue this Plan in its discretion
by action of the Compensation & Benefits Committee.