Document:

DD-EX.10.4_2011.6.30_Q2

Exhibit 10.4

RULES FOR LUMP SUM PAYMENTS
Adopted By the Board of Benefits and Pensions July 17, 2006
I.    Payment of Benefits
A.    Payments under the Pension Restoration Plan for employees who terminated employment and elect to commence the payment of benefits on or before December 31, 2006 will be determined in accordance with the Rules for Lump Sum Payments of the Board of Benefits and Pensions in effect at the date payments commenced. Payments under the Pension Restoration Plan for employees who terminated employment on or before December 30, 2006 but as of January 1, 2007 had not yet elected to commence payment of benefits will be made in accordance with the Rules for Lump Sum Payments in effect on January 1, 2007.
B.    Effective for employees who terminate employment on or after December 31, 2006 the benefit payable under the Pension Restoration Plan will be one lump sum payment paid at the later of:
(a) The end of the month coincident with or next following the three month anniversary of the employee's termination date, except for officers of the Company for whom the three month period shall be a six month period; or
(b) The end of the month in which the Earliest Benefit Commencement Date occurs.
For purposes of the Plan, the Earliest Benefit Commencement Date is defined as follows:
 
	
											
	Age at Termination
	 
	 
	 
	Service at Termination
	 
	Earliest Benefit Commencement Date

	At least 50
	 
	15 or more
	 
	Termination Date + 1 Day *

	Not yet 50
	 
	15 or more
	 
	First Day of the Month Following Age 50

	Any Age
	 
	10 through 14
	 
	First Day of the Month Following Age 60

	Any Age
	 
	Less than 10
	 
	First Day of the Month Following Age 65

                                          
*   Note: For those employees who terminate in connection with a Reduction in Force prior to age 50 who are eligible for an Optional Pension at termination, the Earliest Benefit Commencement Date is Termination Date + 1 Day.

II.    Amount Payable
A.    Payments under the Pension Restoration Plan for employees who terminated employment and elect to commence the payment of benefits on or before December 31, 2006 will be determined in accordance with the Rules for Lump Sum Payments of the Board of Benefits and Pensions in effect at the date payments commenced. Payments under the Pension Restoration Plan for employees who terminated employment on or before December 30, 2006 but as of January 1, 2007 had not yet elected to commence payment of benefits will be made in accordance with the Rules for Lump Sum Payments in effect on January 1, 2007.
B.    Effective for employees who terminate employment on or after December 31, 2006 the benefit payable under the Pension Restoration Plan will be the lump sum present value of the monthly pension and company-paid survivor benefit, if applicable, under the Pension and Retirement Plan calculated without application of the limitations on such payment set forth in paragraphs A(2)(b)(iii) relating to deferred Variable Compensation Awards, A(2)(b)(v) and D of Section IX of such Plan, or effective with payments made after January 1, 1996, the limitations on such payments set forth in paragraphs A(2)(b)(v) and D of Section IX of such Plan, less the amount of the actual monthly pension and company-paid survivor benefit, if applicable, payable under the Pension and Retirement Plan assuming such benefit commenced as of the Earliest Benefit Commencement Date defined under the Pension Restoration Plan.
The lump sum present value shall be determined as of the Earliest Benefit Commencement Date using the Applicable Interest Rate and the Applicable Mortality Table. The term “Applicable Interest Rate” means, for benefit commencement dates during a calendar quarter, the average, rounded to two decimal places, of the annual rate of interest on 30-year Treasury securities for the fourth and fifth month preceeding the first day of the calendar quarter. The term “Applicable Mortality Table” means the table prescribed by the Secretary of the Treasury as required by Section 417(e) (3) of the Internal Revenue Code. The amount payable will be determined without regard to any optional forms of payment elected under the Pension and Retirement Plan and will include the value of the company-paid survivor benefit, if applicable, converted to a lump sum based on the actual age of the survivor unless the employee is single at the time of termination, in which case the value will be calculated on the assumption that the employee has a spouse of the same age.
If the Earliest Benefit Commencement Date is the first day of a month, the amount payable will be credited with interest each month at the Applicable Interest Rate for such month beginning with the first day of the month following the month of the Earliest Benefit Commencement Date and ending with the end of the month of the payment date. If the Earliest Benefit Commencement Date is not the first day of a month, the amount payable will be credited with interest each month at the Applicable Interest Rate for such month beginning with the first day of the month following the one month anniversary of the Earliest Benefit Commencement Date and ending with the end of the month of the payment date.
When a former employee is granted a Variable Compensation Award or variable pay after termination, the amount payable under the Pension Restoration Plan will be recalculated. If the recalculated amount exceeds the amount previously determined, an incremental lump sum will be determined and paid as soon as practicable after the recalculation, but not earlier than the date specified in Section I above. Any incremental lump sum amount will be calculated based on the employee's age and the Applicable Interest Rate in effect on the Earliest Benefit Commencement Date. All payments from the Pension Restoration Plan will be made at the end of a month.
III.    Future Adjustments
An employee who receives a lump sum under this Plan will not be eligible for future adjustments on the portion of retirement income previously converted to a lump sum.
IV.    Amount Payable in the Event of the Death of An Active Employee
Following the death on or after December 31, 2006 of an active employee with 15 or more years of service whose survivor(s) is eligible to receive payments under this Plan, the amount payable to the survivor(s) will be the lump sum present value of the benefit determined in paragraph A of Section VI of the Pension and Retirement Plan calculated without application of the limitations on such payment set forth in paragraphs A(2)(b)(iii) relating to deferred Variable Compensation Awards, A(2)(b)(v) and D of Section IX of such Plan, or effective with payments made after January 1, 1996, the limitations on such payments set forth in paragraphs A(2)(b)(v) and D of Section IX of such plan, less the amount payable to the survivor(s) under the Pension and Retirement Plan. The lump sum present value will be determined as of the first day of the month following the employee's death using the Applicable Interest Rate and the Applicable Mortality Table described in Section II above.
V.    Beneficiary Designation
If a former employee dies after his Earliest Benefit Commencement Date, but before payment is made under this Plan, the calculated lump sum amount to which such former employee would have been entitled shall be paid to the designated beneficiary, or to such former employee's estate.

PENSION RESTORATION PLAN

RULES FOR LUMP SUM PAYMENTS

The second paragraph of Section II (B) is hereby amended, as follows:

(B)    The lump sum present value shall be determined as of the Earliest Benefit Commencement Date using the Applicable Interest Rate and the Applicable Mortality Table.  The term “Applicable Interest Rate” means, for benefit commencement dates during a calendar quarter, the average, rounded to two decimal places, of the annual rate of interest on 30 year Treasury securities prescribed by the Secretary of the Treasury as required by Section 417(e)(3) of the Internal Revenue Code for the fourth and fifth month preceding the first day of the calendar quarter.  The term “Applicable Mortality Table” means the table prescribed by the Secretary of the Treasury as required by Section 417(e)(3) of the Internal Revenue Code.  The amount payable will be determined without regard to any optional forms of payment elected under the Pension and Retirement Plan and will include the value of the company-paid survivor benefit, if applicable, converted to a lump sum based on the actual age of the survivor unless the employee is single at the time of termination, in which case the value will be calculated on the assumption that the employee has a spouse of the same age.DD-EX.10.8_2011.6.30_Q2

Exhibit 10.8

RETIREMENT SAVINGS RESTORATION PLAN
Originally Adopted - January 1, 2007
Last Amended May 23, 2011
Effective June 1, 2011

E. I. du Pont de Nemours and Company

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 the Senior Vice President - HR of E. I. du Pont de Nemours and 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. In all cases, terms of this Plan shall be interpreted as necessary to comply with the requirements of Section 409A of the Internal Revenue Code and accompanying regulations.

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 13 or above (or equivalent level for a participating subsidiary), or an employee of a Company who is eligible to participate in the tax-qualified 401(k) plan sponsored by the Company and who is eligible as listed on Exhibit A, 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 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 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 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 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.

(F)     Definition of Compensation. Compensation for purposes of this Plan shall mean “compensation” as defined in the tax-qualified plan in which the Participant participates.

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 as defined in the tax-qualified plan in which the Participant participates.

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. 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 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.

Benefits payable due to a Participant's death shall be paid to the beneficiary designated on the most recent valid beneficiary designation form received by the Committee, or, if no valid beneficiary designation is on file or the beneficiary cannot be determined by the Committee, to the Participant's estate.

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

E. I . du Pont de Nemours and Company reserves the right to change or discontinue this Plan in its discretion by action of the Compensation Committee of the Board of Directors, or its delegate.

Retirement Savings Restoration Plan

Exhibit A

Participating Employers (Effective as of June 1, 2011)
E. I. du Pont de Nemours and Company - Level 13 and above
DuPont Performance Elastomers LLC 

First Chemical Texas, LP - effective 1-1-09
First Chemical Corporation - effective 1-1-09
EKC Technology, Inc. - effective 1-1-09
DuPont Electronic Polymers, LP - effective 1-1-09

DuPont Authentication - effective 1-1-09
DuPont Displays Inc - effective 1-1-09
DuPont Displays Enhancements, Inc. - effective 1-1-09

Magellan Systems International, LLC - effective mid-09 (no one eligible 2009)

Pioneer Hi-Bred International, Inc. (Level 20 and above) -
 effective 6-30-11 for compensation paid beginning in 2012

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00192-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00192-of-00352.parquet"}]]