exv10w16






Exhibit 10.16




RETIREMENT SAVINGS RESTORATION

PLAN




Originally Adopted — January 1, 2007




Last Amended Effective January 1, 2009




E. I. du Pont de Nemours and

Company




 









 





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RETIREMENT 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 Plan Administrative Committee
appointed by 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 eligible to participate in the E. I. du Pont de Nemours
and Company Retirement Savings Plan and who is Grade 7 or above (or equivalent level for a
participating subsidiary) shall be eligible to participate in this Plan (hereinafter
“Participant”).




     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 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 Retirement Savings Plan) in excess of the
amount prescribed in Internal Revenue Code Section











 





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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
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
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 Matching 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 100% of the Participant
Contribution.




(C) Company Non-elective Contributions. For each employee eligible to participate
in this 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 Retirement
Savings Plan) in excess of the amount prescribed in Internal Revenue Code Section
401(a)(17).




(D) Earnings Equivalents. Credits for Participant Contributions and Company
Matching and Non-elective 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 Retirement Savings Plan. 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 Retirement Savings












 





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	 	 	 	Plan; and/or






	 	(2)	 	change the designated investment options used in valuing
his/her Account under this Plan, subject to the rules governing investment
direction and/or transfers among funds in the Retirement Savings Plan.






(E) Credits to Accounts. Participant Contributions, Company Matching and
Non-elective 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 Matching and Earnings Equivalents attributable thereto
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 Retirement Savings 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 nay 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. Any such election shall be made by
the Participant at the time the deferral election is made. Notwithstanding any provision of
this Plan to the contrary, amounts payable to an officer of the Company shall be paid no
sooner











 





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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 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 or its delegate.