EMPLOYEE'S TIME SPENT ACTIVELY AT WORK PRIOR TO HIS OR
HER RETIREMENT DATE.
(VI)
DEATH.
IF A PARTICIPANT DIES PRIOR TO THE END
OF A PERFORMANCE PERIOD OR AFTER THE END OF A PERFORMANCE PERIOD BUT PRIOR TO
PAYMENT, ANY BONUS MAY BE PAID TO THE PARTICIPANT'S ESTATE AND MAY BE BASED ON
THE PARTICIPANT'S ACTUAL BASE PAY FOR THE PERFORMANCE PERIOD.
(D)
PAYMENTS OF BONUSES TO PARTICIPANTS WHO ARE ON THE PAYROLL OF AFFILIATES OF
THE COMPANY SHALL BE PAID DIRECTLY BY SUCH ENTITIES.
9.
CHANGES IN STATUS.
(A)
IF PRIOR TO THE END OF A PERFORMANCE PERIOD A PERSON IS HIRED FOR A
POSITION PREVIOUSLY DESIGNATED BY THE COMMITTEE FOR PARTICIPATION UNDER THE
PLAN, THAT PERSON WILL COMMENCE PARTICIPATION IN THE PLAN ON A PRO-RATED BASIS
FROM THE DATE OF HIRE.
SUBJECT TO PARAGRAPH (C) BELOW IF AN EMPLOYEE'S POSITION
CHANGES, OR THE EMPLOYEE IS TRANSFERRED, FROM A POSITION THAT WAS ELIGIBLE FOR
PARTICIPATION IN THE COMPANY PERFORMANCE BONUS PLAN, OR THE PAY-FOR-RESULTS
SHORT-TERM BONUS PLAN, HE OR SHE WILL BE CONSIDERED TO HAVE BEEN A PARTICIPANT
IN THIS PLAN FROM THE BEGINNING OF THE PERFORMANCE PERIOD OR, IF LATER, FROM THE
DATE OF HIRE. NOTWITHSTANDING THE FOREGOING, THIS SECTION 9(A) SHALL NOT APPLY
TO A COVERED OFFICER.
(B)
IF A PARTICIPANT TRANSFERS FROM ONE ELIGIBLE POSITION TO ANOTHER PRIOR TO
THE END OF A PERFORMANCE PERIOD, ANY BONUS WILL BE BASED ON PERFORMANCE AS IT
RELATES TO THE PARTICIPANT'S POSITION ON THE LAST DAY OF THE PERFORMANCE PERIOD.
(C)
IF PRIOR TO THE END OF A PERFORMANCE PERIOD, A PARTICIPANT TRANSFERS INTO A
POSITION THAT IS NOT ELIGIBLE FOR PARTICIPATION UNDER THE PLAN, THE EMPLOYEE
WILL NOT RECEIVE A BONUS UNDER THE PLAN.
10.
MISCELLANEOUS.
(A)
NO ASSIGNMENT.
NO PORTION OF ANY BONUS UNDER THE PLAN MAY BE ASSIGNED OR
TRANSFERRED OTHERWISE THAN BY WILL OR THE LAWS OF DESCENT AND DISTRIBUTION PRIOR
TO THE PAYMENT THEREOF.
(B)
TAX REQUIREMENTS.
ALL PAYMENTS MADE PURSUANT TO THE PLAN OR DEFERRED
PURSUANT TO SECTION 8(A) SHALL BE SUBJECT TO ALL APPLICABLE TAXES OR
CONTRIBUTIONS REQUIRED BY
6
federal, state or local law to be withheld, in accordance with the procedures to
be established by the Committee.
(C)
NO ADDITIONAL PARTICIPANT RIGHTS.
THE SELECTION OF AN INDIVIDUAL FOR
PARTICIPATION IN THE PLAN SHALL NOT GIVE SUCH PARTICIPANT ANY RIGHT TO BE
RETAINED IN THE EMPLOY OF THE COMPANY OR ANY OF ITS AFFILIATES, AND THE RIGHT OF
THE COMPANY AND ANY SUCH AFFILIATE TO DISMISS SUCH PARTICIPANT OR TO TERMINATE
ANY ARRANGEMENT PURSUANT TO WHICH ANY SUCH PARTICIPANT PROVIDES SERVICES TO THE
COMPANY, WITH OR WITHOUT CAUSE, IS SPECIFICALLY RESERVED.
NO PERSON SHALL HAVE
CLAIM TO A BONUS UNDER THE PLAN, EXCEPT AS OTHERWISE PROVIDED FOR HEREIN, OR TO
CONTINUED PARTICIPATION UNDER THE PLAN.
THERE IS NO OBLIGATION FOR UNIFORMITY
OF TREATMENT OF PARTICIPANTS UNDER THE PLAN.
THE BENEFITS PROVIDED FOR
PARTICIPANTS UNDER THE PLAN SHALL BE IN ADDITION TO AND SHALL IN NO WAY PRECLUDE
OTHER FORMS OF