Document:

Supplemental Executive Retirement Income Plan

 Exhibit 10.17 
  
 UNISYS CORPORATION 
 SUPPLEMENTAL EXECUTIVE RETIREMENT INCOME PLAN 
 AS AMENDED AND RESTATED 
 EFFECTIVE JANUARY 1, 2005 
  
 PREAMBLE 
  
 The Unisys
Corporation Supplemental Executive Retirement Income Plan, as amended and restated effective January 1, 2005 (the “Supplemental Plan”), was adopted by Unisys Corporation (the “Company”) to provide for the payment of supplemental
pension benefits to certain employees who retire under the terms of the Unisys Pension Plan (the “Company Plan”). Capitalized terms which are used and not otherwise defined in this Supplemental Plan have the same definition assigned to
them in the Company Plan. 
  
 The Supplemental Plan was originally
adopted by Burroughs Corporation, effective January 1, 1976, and prior to April 1, 1988, was known as the Burroughs Corporation Supplemental Executive Retirement Income Plan (the “Burroughs Plan”). The Burroughs Plan provided for the
payment of supplemental pension benefits to employees of the Company who participated in the Burroughs Employees’ Retirement Income Plan. Prior to April 1, 1988, the Company also maintained the Sperry Excess Benefit Plan (the “Sperry
Plan”) which provided for the payment of supplemental pension benefits to employees of the Company who participated in Part A of the Sperry Retirement Program. (The Burroughs Plan and Sperry Plan will be collectively referred to hereinafter as
the “Prior Plan(s).”) Effective April 1, 1988, supplemental pension benefits will be provided to employees who participate in the Unisys Pension Plan pursuant to the terms of the Supplemental Plan. 
  
 The provisions of Part IV of the Supplemental Plan (effective from April 1,
1988 through May 31, 1988) have been amended and restated effective June 1, 1988 and later amended and restated effective January 1, 2005 and Part IV has been renamed the Unisys Corporation Elected Officers’ Pension Plan. The provisions of that
Plan are set forth in a separate plan document. 
  
 Purpose 
  
 The Supplemental Plan (which consolidates the
provisions of Parts I and II of the Burroughs Plan) provides for the payment of pension benefits that would have been paid under the Company Plan but for the benefit limitations imposed by the Internal Revenue Code (the “Code”). The
Supplemental Plan also provides for the payment of pension benefits that would have been paid under the Company Plan if deferred salary, bonuses and commissions had been included in the calculation of the employee’s Compensation. 
  
 Effective Date 
  
 The Effective Date of the Supplemental Plan, as amended and restated, is January 1, 2005.

 Any former Employee who has retired or terminated employment before April 1, 1988 shall receive no
additional rights as a result of this amended and restated Supplemental Plan, but shall have a right to benefits, if any, determined in accordance with the terms of the Prior Plan in effect on the date of retirement or other termination of
employment. 
  
 ARTICLE I - SUPPLEMENTAL BENEFITS 
  

	1.1	Eligibility 

  
 (a) Each Employee who is a Participant in the Company Plan and whose pension benefits payable under the Company Plan are limited by the compensation or
benefit limitations set forth in Sections 401(a)(17) or 415 of the Code shall be eligible for the benefits described in Section 1.2(a)(1) hereunder. 
  
 (b) Each Employee who is a Participant in the Company Plan and who has elected to defer base pay, bonus and commissions shall be eligible for the benefits
described in Section 1.2(a)(2) hereunder. 
  
 (c) An Employee who
terminates employment prior to earning a vested right in an accrued benefit under the Company Plan will not be eligible to receive the benefits provided hereunder. 
  

	1.2	Calculation of Supplemental Pension Benefit 

  
 (a) Subject to subsection (b), an eligible Employee or the Employee’s Beneficiary, if applicable, shall be entitled to receive a supplemental pension
benefit equal to the pension benefit that would have been paid to the Employee or Beneficiary under the terms of the Company Plan, calculated as if: 
  
 (1) the Company Plan were administered without regard to the special benefit limitations imposed under Sections 401(a)(17) or 415 of the Code; and

  
 (2) any deferred compensation under an arrangement approved
by the Board not included in the Company Plan had been included in the Employee’s Compensation in the month in which the Employee would have received the bonus or variable compensation amount or salary (but for the Employee’s election to
defer). 
  
 (b) The supplemental pension benefit calculated under
Subsection (a) shall be reduced by any benefit payable under the Company Plan, calculated as if such benefit is payable in the same form as the benefit payable under the Supplemental Plan. The calculation will be made by utilizing methods and
assumptions that the Committee deems to be reasonable. 

 (c) For purposes of Subsection (a)(2), the subsequent receipt of any deferred annual bonus amount or
salary included in the Employee’s benefit accrual under the Company Plan shall not be considered for purposes of benefit calculation hereunder. 
  
 (d) The supplemental pension benefit calculated under Subsection (a) shall exclude any amount of a Participant’s accrued benefit payable under the
Company Plan attributable to the 2000 Additional Benefit described in Appendix I of the Company Plan, the 2001 Additional Benefit described in Appendix K of the Company Plan and the 2002 Additional Benefit described in Appendix M of the Company
Plan. 
  
 ARTICLE II - GENERAL PROVISIONS OF THE SUPPLEMENTAL PLAN

  

	2.1	Survivor Benefits 

  
 The pre-retirement surviving spouse benefit provisions shall also apply under this Supplemental Plan. 
  

	2.2	Vesting Benefits 

  
 Any benefit payable under this Supplemental Plan shall be vested in the same manner and percentage as benefits accrued under the Company Plan. 
  

	2.3	Forfeiture of Benefits 

  
 Any benefit payable under this Supplemental Plan shall be forfeitable in the event it is found by the Committee that a retired member hereunder, either during or
following termination of employment with the Company, willfully engaged in any activity which is determined by the Committee to be materially adverse or detrimental to the interests of the Company, including any activity which might reasonably be
considered by the Committee to be of a nature warranting dismissal of an employee for cause. If the Committee so finds, it may suspend benefits to such retired member and, after furnishing notice to the retired member, may terminate benefits under
this Supplemental Plan. The Committee will consider in its deliberation relative to this provision any explanation or justification submitted to it in writing by the retired member within 60 days following the giving of such notice. 
  
 Except as heretofore provided for in this Section 2.3, the acceptance by a retired member of
any benefit under this Supplemental Plan shall constitute an agreement with the provisions of this Supplemental Plan and a representation that he or she is not engaged or employed in any activity serving as a basis for suspension or forfeiture of
benefits hereunder. The Committee may require each retired member eligible for a benefit under this Supplemental Plan to acknowledge in writing prior to payment of such benefit that he or she will accept payment of benefits under this Supplemental
Plan only if there is no basis for such suspension or forfeiture. 

	2.3	Administration 

  
 This Supplemental Plan shall be administered by the committee (the “Committee”) appointed by the Board of Directors to administer the Company Plan. The Committee shall administer this Supplemental Plan in a
manner consistent with the administration of the Company Plan, except that this Supplemental Plan shall be administered as an unfunded plan which is not intended to meet the qualification requirements of Section 401 of the Internal Revenue Code. The
Committee’s decision in all matters involving the interpretation and application of this Supplemental Plan shall be final. 
  

	2.4	Payment of Benefits 

  
 Payment of vested benefits under this Supplemental Plan shall be made as provided below: 
  
 (a) The Participant’s Retirement Accumulation Account shall be payable in a lump sum upon the Participant’s separation from service. 

 
 (b) The Participant’s Residual Annuity shall be payable at the later
of the Participant’s separation from service or his or her attainment of age 55 as a life annuity, if the Participant is single, or as a reduced (actuarial equivalent) joint and 50% survivor annuity, if the Participant is married. Such
reduction shall be consistent with the factors applicable under the Company Plan. Other forms of annuity payments may be permitted if allowed under Section 409A of the Internal Revenue Code and regulations issued thereunder. All payments commence on
the first day of the month coincident with or next following attainment of eligibility. 
  
 (c) Notwithstanding the foregoing, distributions upon a Participant’s separation from service may not be made earlier than six months following the date of the Participant’s separation from service, if a
committee, composed of the Chief Financial Officer of the Company and the Company’s head of worldwide Human Resources, determines that such Participant is a Key Employee as provided in Section 409A of the Internal Revenue Code and regulations
issued thereunder. Any benefit accrued and vested as of December 31, 2004 is exempt from the six-month delay. 
  

	2.5	Employees’ Rights 

  
 An employee’s rights, or the rights of an employee’s beneficiary, under this Supplemental Plan, except as to eligibility for a vested benefit and except as
specifically altered by the terms of this Supplemental Plan shall be the same as such person’s rights under the Company Plan, except that such person shall not be entitled to the payment of any benefits under this Plan from the trust
established under the Company Plan. Benefits under this Supplemental Plan shall be payable from the general assets of the Company. 

	2.6	Amendments and Discontinuance 

  
 The Company expects to continue this Supplemental Plan indefinitely, but reserves the right to amend or discontinue it if, in its sole judgment, such a change is deemed
necessary or desirable. However, if the Company should amend or discontinue this Supplemental Plan, the Company shall be liable for any benefits accrued under this Supplemental Plan as of the date of such action. Any change to the Plan which
adversely affects a Participant’s or Beneficiary’s rights to benefits and/or the amount, form and manner in which benefits are accrued, vested and/or paid shall not affect the Participant’s or Beneficiary’s benefits accrued up to
the date of the change. Changes which adversely affect the Participant’s or Beneficiary’s rights under the Plan may only take effect on the adoption date of the change and on a going forward basis. 
  

	2.7	Claims Procedure 

  
 (a) Claims. Any person or entity claiming a benefit, requesting an interpretation or ruling under the Plan (hereinafter referred to as
“claimant”), or requesting information under the Plan shall present the request in writing to the Committee, which shall respond in writing or electronically. The notice advising of the denial shall be furnished to the claimant within
ninety (90) days of receipt of the benefit claim by the Committee, unless special circumstances require an extension of time to process the claim. If an extension is required, the Committee shall provide notice of the extension prior to the
termination of the ninety (90) day period. In no event may the extension exceed a total of one hundred eighty (180) days from the date of the original receipt of the claim. 
  
 (b) Denial of Claim. 
  
 If the claim or request is denied, the written or electronic notice of denial shall state: 
  

	 	•	 	The reason(s) for denial; 

  

	 	•	 	Reference to the specific Plan provisions on which the denial is based; 

  

	 	•	 	A description of any additional material or information required and an explanation of why it is necessary; and 

  

	 	•	 	An explanation of the Plan’s claims review procedures and the time limits applicable to such procedures, including the right to bring a civil action under section 502(a) of
ERISA. 

  
 (c) Review of Claim. Any claimant
whose claim or request is denied or who has not received a response within sixty (60) days may request a review by notice given in writing or electronic form to the Committee. Such request must be made within sixty (60) days after receipt by the
claimant of the written or electronic notice of denial, or in the event the claimant has not received a response, sixty (60) days after receipt by the Committee of the claimant’s claim or request. The claim or request shall be reviewed by the
Committee which may, but shall not be 

 
required to, grant the claimant a hearing. On review, the claimant may have representation, examine pertinent documents, and submit issues and comments in
writing. 
  
 (d) Final Decision. The decision on review
shall normally be made within sixty (60) days after the Committee’s receipt of claimant’s claim or request. If an extension of time is required for a hearing or other special circumstances, the claimant shall be notified and the time limit
shall be one hundred twenty (120) days. The decision shall be in writing or in electronic form and shall: 
  

	 	•	 	state the specific reason(s) for the denial; 

  

	 	•	 	reference the relevant Plan provisions; 

  

	 	•	 	state that the claimant is entitled to receive, upon request and free of charge, and have reasonable access to and copies of all documents, records and other information relevant to
the claim for benefits; and 

  

	 	•	 	state that the claimant may bring an action under section 502(a) of ERISA. 

  
 All decisions on review shall be final and bind all parties concerned.Elected Officer Pension Plan

 Exhibit 10.18 
  
 UNISYS CORPORATION 
 ELECTED OFFICER PENSION PLAN 
 AS AMENDED AND RESTATED 
 EFFECTIVE JANUARY 1, 2005 
  
 ARTICLE I 
  
 PURPOSE 
  

	1.01	The Unisys Corporation Elected Officer Pension Plan (the “Plan”) has been adopted by Unisys Corporation (the “Company”) to provide a minimum level of retirement
benefits for elected Officers (as defined in Section 2.12 below) of the Company. The Plan is effective June 1, 1988 and applies to any elected Officer or other eligible employee of the Company who terminates employment on or after that date. This
document is a restatement that includes all amendments made through January 1, 2005. Prior to June 1, 1988, elected Officers of the Company were provided executive pension benefits under the Unisys Corporation Supplemental Executive Retirement
Income Plan - Part IV or the Sperry Corporation Executive Pension Plan. Officers who terminated employment prior to June 1, 1988 will receive executive pension benefits, if any, under the terms of the prior plan in effect on their termination date.

  
 ARTICLE II 
  
 DEFINITIONS 
  

	2.01	“Board” shall mean the Board of Directors of Unisys Corporation. 

  

	2.02	“Company” shall mean Unisys Corporation, a Delaware corporation. 

  

	2.03	“Company Plan” shall mean the Unisys Pension Plan. 

  

	2.04	“Committee” shall mean the Compensation Committee of the Board. 

  

	2.05	“Code” shall mean the Internal Revenue Code of 1986, as amended from time to time. 

  

	2.06	“Credited Service” shall mean the Participant’s Credited Service, as defined in Article IV. 

	2.07	“Disability” shall refer to a Participant who is determined by the Committee or its designee to be unable to perform, because of injury or sickness, each of the
regular duties of the Participant’s occupation for a period of up to 24 months. After 24 months, the Participant will continue to be considered Disabled if the Committee or its designee determines that the Participant cannot perform each of the
regular duties of any gainful occupation for which he or she is fitted by training, education or experience. 

  

	2.08	“Effective Date” shall mean June 1, 1988. 

  

	2.09	“Final Average Compensation” shall mean the Participant’s Final Average Compensation, as defined in the Company Plan, except that any salary amounts deferred
under an arrangement approved by the Board not included by the Company Plan and any amounts excluded from consideration under the Company Plan due to the application of Section 401(a)(17) of the Code shall be included in the calculation of Final
Average Compensation in the month in which such amounts were or would otherwise have been paid; provided, however, that no more than the most recent five annual bonus amounts (whether paid or deferred) shall be included in the calculation of Final
Average Compensation. 

  

	2.10	“Employee” shall mean any person employed by Unisys Corporation or one of its subsidiaries. 

  

	2.11	“Key Employee” shall mean (i) an officer of the Company or its affiliates having annual compensation greater than $130,000 (adjusted for inflation and limited to 50
employees), (ii) a five percent owner of the Company and its affiliates, or (iii) a one percent owner of the Company and its affiliates who has annual compensation from the Company and its affiliates greater than $150,000, as determined by the
Committee in a manner consistent with the regulations issued under section 409A of the Code. 

  

	2.12	“Officer” shall mean any officer of the Company elected by the Board, but excluding assistant officers, appointed officers or the general auditor.

  

	2.13	“Participant” shall mean any person entitled to participate in this Plan under Article III. 

  

	2.14	“Plan” shall mean the Unisys Corporation Elected Officer Pension Plan, as set forth herein and as hereafter amended. 

  

	2.15	 “Primary Social Security Benefit” shall mean the annualized amount calculated according to the rules for computing the primary social security
benefit payable to a Participant upon attainment of Social Security Retirement Age under the Federal Social Security Act as in effect at the time the Participant retires. In the event that a Participant retires prior to attainment of eligibility for
Social Security benefits, 

	 	 
the Participant’s Primary Social Security Benefit shall be deemed to be 80% of the Primary Social Security Benefit payable at Social Security Retirement
Age. In the event the Participant retires after attainment of eligibility for Social Security benefits, but before Social Security Retirement Age, the Primary Social Security Benefit shall be deemed to be an amount prorated between the benefit
payable at Social Security Retirement Age and 80% of such amount. For purposes of this calculation, it will be assumed that the Participant has no earnings for Social Security purposes beyond the date of retirement. 

  

	2.16	“Supplemental Plan” shall mean the Unisys Corporation Supplemental Executive Retirement Income Plan-Article I, as amended and restated effective January 1, 2005,
and as amended from time to time. 

  

	2.17	“Change in Control” means any of the following events: 

  

	 	(a)	The acquisition by any individual, entity or group (within the meaning of Section 13(d)(3) or 14(d)(2) of the Securities Exchange Act of 1934, as amended (the “Exchange
Act”)) (a “Person”) of beneficial ownership (within the meaning of Rule 13d-3 promulgated under the Exchange Act) of 20% or more of either (i) the then outstanding shares of common stock of the Company (the “Outstanding Company
Common Stock”) or (ii) the combined voting power of the then outstanding voting securities of the Company entitled to vote generally in the election of directors (the “Outstanding Company Voting Securities”); provided, however, that
for purposes of this subsection (a), the following acquisitions shall not constitute a Change of Control: (i) any acquisition directly from the Company, (ii) any acquisition by the Company, (iii) any acquisition by any employee benefit plan (or
related trust) sponsored or maintained by the Company or any corporation controlled by the Company or (iv) any acquisition by any corporation pursuant to a transaction which complies with clauses (i), (ii) and (iii) of subsection (c) of this Section
2.17; or 

  

	 	(b)	Individuals who, as of May 25, 1995, constitute the Board (the “Incumbent Board”) cease for any reason to constitute at least a majority of the Board; provided, however,
that any individual becoming a director subsequent to such date whose election, or nomination for election by the Company’s shareholders, was approved by a vote of at least a majority of the directors then comprising the Incumbent Board shall
be considered as though such individual were a member of the Incumbent Board, but excluding, for this purpose, any such individual whose initial assumption of office occurs as a result of an actual or threatened election contest with respect to the
election or removal of directors or other actual or threatened solicitation of proxies or consents by or on behalf of a Person other than the Board; or 

	 	(c)	Consummation of a reorganization, merger or consolidation or sale or other disposition of all or substantially all of the assets of the Company (a “Business Combination”),
in each case, unless, following such Business Combination, (i) all or substantially all of the individuals and entities who were the beneficial owners, respectively, of the Outstanding Company Common Stock and Outstanding Company Voting Securities
immediately prior to such Business Combination beneficially own, directly or indirectly, more than 50% of, respectively, the then outstanding shares of common stock and the combined voting power of the then outstanding voting securities entitled to
vote generally in the election of directors, as the case may be, of the corporation resulting from such Business Combination (including, without limitation, a corporation which as a result of such transaction owns the Company or all or substantially
all of the Company’s assets either directly or through one or more subsidiaries) in substantially the same proportions as their ownership, immediately prior to such Business Combination of the Outstanding Company Common Stock and Outstanding
Company Voting Securities, as the case may be, (ii) no Person (excluding any corporation resulting from such Business Combination or any employee benefit plan (or related trust) of the Company or such corporation resulting from such Business
Combination) beneficially owns, directly or indirectly, 20% or more of, respectively, the then outstanding shares of common stock of the corporation resulting from such Business Combination or the combined voting power of the then outstanding voting
securities of such corporation except to the extent that such ownership existed prior to the Business Combination and (iii) at least a majority of the members of the board of directors of the corporation resulting from such Business Combination were
members of the Incumbent Board at the time of the execution of the initial agreement, or of the action of the Board, providing for such Business Combination; or 

  

	 	(d)	Approval by the shareholders of the Company of a complete liquidation or dissolution of the Company. 

  

	2.18	“Date of an Insolvency” shall mean the date on which the Company (i) voluntarily files a petition under the United States Bankruptcy Code, (including a petition for
Chapter 11 reorganization) or (ii) has filed involuntarily against it a petition under the United States Bankruptcy Code and an Order for Relief is entered thereon. 

  
 Unless otherwise specified, capitalized words and phrases used in this Plan shall have the same meaning as such words or phrases when used
in the Company Plan. 

 ARTICLE III 
  
 PARTICIPATION AND VESTING 
  

	3.01	Participation 

  
 An Officer shall become a Participant in the Plan on the later of (i) the Effective Date or (ii) the effective date on which the Officer is elected to
officer status by the Board. 
  

	3.02	Vesting 

  

	 	(a)	Each Participant shall acquire a vested right to a retirement benefit calculated in accordance with Article V on the earliest to occur of the following: 

  

	 	(1)	the date on which the Employee attains age 55 and completes 10 years of Credited Service, provided that the Employee is or becomes an Officer on or after such date; or

  

	 	(2)	the date on which occurs a Change in Control or the Date of an Insolvency, provided the Employee is an Officer on such date; or 

  

	 	(3)	for an Employee who is or becomes an Officer on or after January 1, 1997 and before July 19, 2001, the date on which the Employee attains age 50 and completes 5 years of Credited
Service, provided that the Employee is employed by the Company or an Affiliated Company on or after December 31, 1998; or 

  

	 	(4)	The date specified in a written agreement between a Participant and the Company, provided that for agreements entered into on and after May 22, 1997, such agreements must be
approved by the Committee. 

  

	 	(b)	A Participant who (i) retires from active employment or terminates employment due to Disability or death, or (ii) retires from active employment or terminates employment with the
Company due to death or Disability within twelve months of ceasing to be an Officer, shall be eligible, upon application, to receive the retirement and surviving spouse benefits provided in Article V below. 

  

	 	(c)	 A former Officer who was a Participant but who continues in active employment for more than twelve months after ceasing to be an Officer shall be eligible, upon
application, to receive a vested annual retirement benefit calculated in accordance with Sections 5.01(a), 5.02, 5.04 and 

 
5.05, utilizing as an offset the amount of benefits payable under the Company Plan and the Supplemental Plan calculated as if the Participant had elected a
single life annuity form of benefit under the Company Plan, and such former Officer shall not be eligible for the survivor benefits described in Section 5.03. This Section 3.01(c) shall not apply after the occurrence of a Change in Control with
respect to any individual who was an Officer on the date of the Change in Control. 
  

	 	(d)	Each Employee who was a participant in a prior plan, but who is not eligible to participate in this Plan, shall continue to have his or her rights to executive pension benefits
determined under such prior plan. 

  
 ARTICLE IV

  
 CREDITED SERVICE 
  

	4.01	Credited Service 

  
 Credited Service under this Plan shall be calculated on the basis of Credited Service as defined in the Company Plan for the following periods:

  

	 	(a)	periods of employment as an Officer; and 

  

	 	(b)	up to twelve months of active employment with the Company immediately following termination of Officer status, or, if longer, the number of months of a Company approved leave of
absence due to Disability immediately following termination of Officer status; and 

  

	 	(c)	employment prior to becoming an Officer with the Company including a predecessor or an Affiliated Company or 50% Affiliated Company for the period of time such company was an
Affiliated Company or 50% Affiliated Company. However, if a Participant receives Credited Service under the Company Plan for employment with a company before it became an Affiliated Company or 50% Affiliated Company, Credited Service shall include
the period of employment with such company. 

 ARTICLE V 
  
 CALCULATION OF BENEFITS 
  

	5.01	Amount of Benefits 

  

	 	(a)	Subject to the adjustments set forth in Section 5.02, a Participant who satisfies the vesting requirements described in Section 3.02(a) shall receive an annual retirement benefit
payable at Normal Retirement Date equal to: 

  

	 	(1)	4% of the Participant’s Final Average Compensation for each year of Credited Service not in excess of 10 including proportional credit for a fraction of a year; plus

  

	 	(2)	1% of the Participant’s Final Average Compensation for each year of Credited Service in excess of 10 (but not in excess of 30) including proportional credit for a fraction of a
year; minus 

  

	 	(3)	50% of the Participant’s Primary Social Security Benefit. 

  

	 	(b)	The benefit payable from this Plan and described in paragraph (a) shall be a monthly benefit paid in the form of a single life annuity if the Participant is unmarried on the date
that the Participant commences receipt of benefits, or in the form of a joint and 50% surviving spouse annuity if the Participant is married on the date the Participant commences receipt of benefits. The benefit payable to a Participant shall not be
reduced or increased as a result of such payment in the surviving spouse benefit form or for any age difference between the Participant and spouse. Other forms of annuity payments may be permitted if allowed under section 409A of the Internal
Revenue Code and regulations issued thereunder. 

  

	5.02	Early Retirement Prior to Age 62 

  
 Benefits paid under this Plan shall be reduced by one- half of one percent (0.5%) for each calendar month by which the commencement of benefits precedes
the first day of the month coincident with or next following the Participant’s 62nd birthday, provided that benefits cannot commence prior to the first day of the month coincident with or next following attainment of age 55. 
  

	5.03	Death Benefits 

  

	 	(a)	In the event of the death of a Participant who, at the time of death, has satisfied the vesting requirements described in Section 3.01(a) above, and who: 

 

	 	(1)	has not commenced retirement benefits under this Plan; and 

	 	(2)	who has a surviving spouse, such Participant’s surviving spouse shall receive a survivor’s benefit in the amount described in paragraph (b). 

  

	 	(b)	The amount payable under this paragraph shall be equal to the benefit the spouse would have received if the Participant: 

  

	 	(1)	had terminated employment on the earlier of the date of death or the date of the Participant’s actual termination of employment; and 

  

	 	(2)	had survived to the benefit commencement date described in subsection (c); and 

  

	 	(3)	had begun to receive an immediate retirement benefit in the Normal Form under Section 5.01(b); and 

  

	 	(4)	had died on the following day. 

  

	 	(c)	The benefit payable under this Section shall be paid to the surviving spouse in the form of a single life annuity and shall commence on the first day of the month coincident with or
next following the month in which the Participant’s death occurs, but not before the Participant would have attained age 55. 

  

	 	(d)	No benefits shall be payable from this Plan to a surviving spouse (or any other beneficiary) of a Participant unless the form of benefit paid to the Participant provides for the
payment of benefits upon the Participant’s death or except as otherwise provided in this Section. 

  

	5.05	Benefit Offset 

  

	 	(a)	The retirement benefit determined under this Article and payable to a Participant or surviving spouse shall be reduced by any benefit payable under the Company Plan and the
Supplemental Plan, calculated in accordance with Section 6.01. 

  

	 	(b)	With respect to a Participant who is not a participant in the Company Plan, the retirement benefit payable to the Participant or surviving spouse shall be reduced by the amount of
retirement pension payable under the plan of any Affiliated Company or 50% Affiliated Company, including any governmental plan retirement benefit or lump sum termination or similar entitlements, in effect at the time of the Participant’s
termination of employment. 

 ARTICLE VI 
  
 BENEFIT PAYMENTS 
  

	6.01	Form of Benefit Payment 

  
 If a Participant should elect a form of benefit payment under the Company Plan (or such other plan or program, unless impracticable not to so elect) which
is different than the form of benefit payment under this Plan, then for purposes of determining the offset under Section 5.05, the Participant shall be deemed to be in receipt of the amount of benefit payable as if the Participant had elected the
Normal Form of Benefit under the Company Plan. 
  

	6.02	Commencement of Benefits 

  
 Payment of a Participant’s vested benefits shall commence on the first day of the month coincident with or next following the Participant’s
separation from service, but not before age 55. Notwithstanding the foregoing, distributions upon a Participant’s separation from service will not be made earlier than six months following the date of the Participant’s separation from
service, if the Participant is a Key Employee. Any benefit accrued and vested as of December 31, 2004 is exempt from the six-month delay. 
  

	6.03	Funding of Benefits 

  
 Benefits under this Plan shall not be funded and shall be paid out of the general assets of the Company. The Company shall not be required to segregate
any funds for the Plan’s Participants. Notwithstanding any provision in this Section 6.03 to the contrary, the Committee shall have the discretion but not the obligation to fund this Plan through a trust of the type described in Internal
Revenue Service Private Letter Ruling 8502023. 
  

	6.04	Forfeiture and Suspension of Benefits 

  

	 	(a)	Any benefit payable under this Plan shall be suspended for any period during which it is determined by the Committee that a Participant is engaged or employed as a business owner,
employee or consultant in any activity which is in competition with any line of business of the Company existing as of the date of the Participant’s termination of employment from the Company. 

	 	(b)	Additionally, any benefit payable under this Plan shall be forfeitable in the event it is found by the Committee that a Participant, either during or following termination of
employment with the Company, willfully engaged in any activity which is determined by the Committee to be materially adverse or detrimental to the interests of the Company, including any activity that might reasonably be considered by the Committee
to be of a nature warranting dismissal of an employee for cause. If the Committee so finds, it may suspend benefits to the Participant and, after furnishing notice to the Participant, may terminate benefits under this Plan. The Committee will
consider in its deliberation relative to this provision any explanation or justification submitted to it in writing by the Participant within 60 days following the giving of such notice. 

  

	 	(c)	Except as heretofore provided for in this Section 6.04, the acceptance by a Participant of any benefit under this Plan shall constitute an agreement with the provisions of this Plan
and a representation that he or she is not engaged or employed in any activity serving as a basis for suspension or forfeiture of benefits hereunder. The Committee may require each Participant eligible for a benefit under this Plan to acknowledge in
writing prior to the payment of such benefit that he or she will accept payment of benefits under this Plan only if there is no basis for such suspension or forfeiture. 

  
 ARTICLE VII 
  
 ADMINISTRATION 
  

	7.01	Committee 

  
 The Plan shall be administered by the Committee, which shall administer the Plan in a manner consistent with the administration of the Company Plan,
except that this Plan shall be administered as an unfunded plan that is not intended to meet the requirements of Section 401 of the Code. The Committee shall be the Plan administrator and named fiduciary of the Plan that has the discretionary
authority to control and manage the operation and administration of the Plan. The Committee has the discretionary authority to supply omissions, make factual determinations, and to decide any dispute that may arise regarding the rights of
Participants. All such decisions are binding and conclusive on all interested parties. 
  

	7.02	Claims Procedure. 

  
 (a) Claims. Any person or entity claiming a benefit, requesting an interpretation or ruling under the Plan (hereinafter referred to as
“claimant”), or 

 
requesting information under the Plan shall present the request in writing to the Committee, which shall respond in writing or electronically. The notice
advising of the denial shall be furnished to the claimant within ninety (90) days of receipt of the benefit claim by the Committee, unless special circumstances require an extension of time to process the claim. If an extension is required, the
Committee shall provide notice of the extension prior to the termination of the ninety (90) day period. In no event may the extension exceed a total of one hundred eighty (180) days from the date of the original receipt of the claim. 
  

	 	(b)	Denial of Claim. 

  
 If the claim or request is denied, the written or electronic notice of denial shall state: 
  

	 	•	 	The reason(s) for denial; 

  

	 	•	 	Reference to the specific Plan provisions on which the denial is based; 

  

	 	•	 	A description of any additional material or information required and an explanation of why it is necessary; and 

  

	 	•	 	An explanation of the Plan’s claims review procedures and the time limits applicable to such procedures, including the right to bring a civil action under section 502(a) of
ERISA. 

  

	 	(c)	Review of Claim. 

  
 Any claimant whose claim or request is denied or who has not received a response within sixty (60) days may request a review by notice given in writing or
electronic form to the Committee. Such request must be made within sixty (60) days after receipt by the claimant of the written or electronic notice of denial, or in the event the claimant has not received a response, sixty (60) days after receipt
by the Committee of the claimant’s claim or request. The claim or request shall be reviewed by the Committee which may, but shall not be required to, grant the claimant a hearing. On review, the claimant may have representation, examine
pertinent documents, and submit issues and comments in writing. 
  

	 	(d)	Final Decision. 

  
 The decision on review shall normally be made within sixty (60) days after the Committee’s receipt of claimant’s claim or request. If an
extension of time is required for a hearing or other special circumstances, the claimant shall be notified and the time limit shall be one hundred twenty (120) days. The decision shall be in writing or in electronic form and shall: 
  

	 	•	 	state the specific reason(s) for the denial; 

	 	•	 	reference the relevant Plan provisions; 

  

	 	•	 	state that the claimant is entitled to receive, upon request and free of charge, and have reasonable access to and copies of all documents, records and other information relevant to
the claim for benefits; and 

  

	 	•	 	state that the claimant may bring an action under section 502(a) of ERISA. 

  
 All decisions on review shall be final and bind all parties concerned. 
  

	7.03	Plan Amendment and Termination 

  
 The Company expects to continue this Plan indefinitely, but reserves the right to amend or discontinue it if, in its sole judgment, such a change is
deemed necessary or desirable. However, if the Company should amend or discontinue this Plan, the Company shall be liable for any benefits accrued under this Plan (determined on the basis of each Employee’s presumed termination of employment as
of the date of such amendment or discontinuance) as of the date of such action. Any change to the Plan which adversely affects a Participant’s or Beneficiary’s rights to benefits and/or the amount, form and manner in which benefits are
accrued, vested and/or paid shall not affect the Participant’s or Beneficiary’s benefits accrued up to the date of the change. Changes which adversely affect a Participant’s or Beneficiary’s rights under the Plan may only take
effect on the adoption date of the change and on a going forward basis. 
  

	7.04	No Employment Rights 

  
 Neither the action of the Company in establishing the Plan, nor any provisions of the Plan, nor any action taken by the Company or by the Committee shall
be construed as giving to any employee of the Company or any of its subsidiaries the right to be retained in its employ, or any right to payment except to the extent of the benefits provided by the Plan. 
  

	7.05	Severability of Provisions 

  
 If any provision of this Plan is determined to be void by any court of competent jurisdiction, the Plan shall continue to operate and, for the purposes of
the jurisdiction of that court only, shall be deemed not to include the provision determined to be void. 
  

	7.06	Non-Assignability 

  
 Except as required by applicable law, no benefits under this Plan shall be subject in any manner to alienation, anticipation, sale, transfer, assignment,
pledge, or encumbrance. 

	7.07	Withholding 

  
 The Company shall have the right to withhold any and all state, local, and Federal taxes which may be withheld in accordance with applicable law.

  

	7.08	Governing Law 

  
 Except to the extent superseded by ERISA, all questions pertaining to the validity, construction, and operation of the Plan shall be determined in
accordance with the laws of the Commonwealth of Pennsylvania.

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