THIS SECTION 1.22 CONSISTENTLY TO
SIMILARLY SITUATED PARTICIPANTS IN THE PLAN.
FOR PURPOSES OF DETERMINING A PARTICIPANT'S ESTIMATED SOCIAL SECURITY BENEFIT,
SOCIAL SECURITY "NORMAL RETIREMENT AGE" SHALL HAVE THE SAME MEANING AS SUCH TERM
IS DEFINED IN THE FEDERAL SOCIAL SECURITY ACT, AS AMENDED.
1.23
"FIFTEEN YEAR TERM CERTAIN LIFE ANNUITY" SHALL MEAN A BENEFIT THAT
IS PAYABLE MONTHLY IN THE FORM OF AN ANNUITY FOR THE LIFE OF THE PARTICIPANT OR
FIFTEEN (15) YEARS, WHICHEVER IS LONGER, AND THAT IS EQUAL TO THE PARTICIPANT'S
SERP BENEFIT.
1.24
"JOINT AND 50% SURVIVOR ANNUITY" SHALL MEAN A BENEFIT THAT IS
PAYABLE MONTHLY IN THE FORM OF AN ANNUITY FOR THE LIFE OF THE PARTICIPANT WITH A
50% SURVIVOR ANNUITY FOR THE LIFE OF SUCH PARTICIPANT'S BENEFICIARY, AND THAT IS
EQUAL TO THE PARTICIPANT'S SERP BENEFIT.
1.25
"LIFE ANNUITY" SHALL MEAN A BENEFIT THAT IS PAYABLE MONTHLY IN THE
FORM OF AN ANNUITY FOR THE LIFE OF THE PARTICIPANT AND THAT IS EQUAL TO THE
PARTICIPANT'S SERP BENEFIT.
1.26
"PARTICIPANT" SHALL MEAN ANY EMPLOYEE, (I) WHO IS SELECTED TO
PARTICIPATE IN THE PLAN, (II) WHO SUBMITS AN EXECUTED PLAN AGREEMENT, ELECTION
FORM AND BENEFICIARY DESIGNATION FORM, WHICH ARE ACCEPTED BY THE COMMITTEE, AND
(III) WHOSE PLAN AGREEMENT HAS NOT TERMINATED.
1.27
"PLAN" SHALL MEAN THE GUESS?, INC. SUPPLEMENTAL EXECUTIVE
RETIREMENT PLAN, WHICH SHALL BE EVIDENCED BY THIS INSTRUMENT AND BY EACH PLAN
AGREEMENT, AS AMENDED FROM TIME TO TIME.
1.28
"PLAN AGREEMENT" SHALL MEAN A WRITTEN AGREEMENT, AS MAY BE AMENDED
FROM TIME TO TIME, WHICH IS ENTERED INTO BY AND BETWEEN THE EMPLOYER AND A
PARTICIPANT.
EACH PLAN AGREEMENT EXECUTED BY A PARTICIPANT SHALL PROVIDE FOR
THE ENTIRE BENEFIT TO WHICH SUCH PARTICIPANT IS ENTITLED UNDER THE PLAN; SHOULD
THERE BE MORE THAN ONE PLAN AGREEMENT, THE PLAN AGREEMENT BEARING THE LATEST
DATE OF ACCEPTANCE BY THE EMPLOYER SHALL SUPERCEDE ALL PREVIOUS PLAN AGREEMENTS
IN THEIR ENTIRETY AND SHALL GOVERN SUCH ENTITLEMENT.
THE TERMS OF ANY PLAN
AGREEMENT MAY BE DIFFERENT FOR ANY PARTICIPANT, AND ANY PLAN AGREEMENT MAY
PROVIDE ADDITIONAL BENEFITS NOT SET FORTH IN THE PLAN OR LIMIT THE BENEFITS
OTHERWISE PROVIDED UNDER THE PLAN; PROVIDED, HOWEVER, THAT ANY SUCH ADDITIONAL
BENEFITS OR BENEFIT LIMITATIONS MUST BE AGREED UPON BY BOTH THE EMPLOYER AND THE
PARTICIPANT.
1.29
"PLAN YEAR" SHALL MEAN A PERIOD BEGINNING ON JANUARY 1 OF EACH
CALENDAR YEAR AND CONTINUING THROUGH DECEMBER 31 OF SUCH CALENDAR YEAR.
1.30
"RETIREMENT" OR "RETIRES" SHALL MEAN A PARTICIPANT'S SEPARATION
FROM SERVICE WITH ALL EMPLOYERS AS AN EMPLOYEE FOR ANY REASON OTHER THAN AN
AUTHORIZED LEAVE OF ABSENCE, DEATH OR DISABILITY, AS
4
DETERMINED IN ACCORDANCE WITH CODE SECTION 409A AND RELATED TREASURY GUIDANCE,
ON OR AFTER THE DATE ON WHICH THE PARTICIPANT HAS ATTAINED AGE SIXTY-FIVE (65).
1.31
"Retirement Benefit" shall mean the benefit set forth in
Section 3.1.
1.32
"SERP Benefit" shall mean a monthly amount, payable to a
Participant in the form provided in Article 4 and commencing in accordance with
the provisions of Article 3.