Document:

exhibit101nonqualifiedsa

                                                  Exhibit 10.1                                                                                                                                                                                                                                                                             John Bean Technologies Corporation      Non-Qualified Savings and Investment Plan   As Amended and Restated, Effective January 1, 2019                                                                                                                                                                                                                                                                    

 

                              TABLE OF CONTENTS                                                                                                                    Page    ARTICLE I INTRODUCTION ...................................................................................................... 1        Section 1.1    Name; Purpose ...................................................................................... 1        Section 1.2    Administration of the Plan .................................................................... 1  ARTICLE II DEFINITIONS .......................................................................................................... 2        Section 2.1    Account ................................................................................................. 2        Section 2.2    Account Balance ................................................................................... 2        Section 2.3    Adopting Affiliate ................................................................................. 2        Section 2.4    Affiliated Group .................................................................................... 2        Section 2.5    Board ..................................................................................................... 2        Section 2.6    Code ...................................................................................................... 2        Section 2.7    Committee ............................................................................................. 2        Section 2.8    Company ............................................................................................... 2        Section 2.9    Compensation ....................................................................................... 2        Section 2.10   Deferral Contributions .......................................................................... 3        Section 2.11   Deferral Contributions Account ............................................................ 3        Section 2.12   Effective Date ....................................................................................... 3        Section 2.13   Employer ............................................................................................... 3        Section 2.14   Employer Contributions ........................................................................ 3        Section 2.15   Employer Contributions Account ......................................................... 3        Section 2.18   ERISA ................................................................................................... 3        Section 2.19   Excess Compensation ........................................................................... 3        Section 2.20   Incentive Bonus .................................................................................... 3        Section 2.21   Participant ............................................................................................. 4        Section 2.22   Permitted Investment ............................................................................ 4        Section 2.23   Plan ....................................................................................................... 4        Section 2.24   Plan Year ............................................................................................... 4        Section 2.25   Savings Plan .......................................................................................... 4  ARTICLE III PLAN PARTICIPATION ........................................................................................ 4        Section 3.1    Eligibility .............................................................................................. 4        Section 3.2    Participation .......................................................................................... 4                                         i         

 

                            TABLE OF CONTENTS                                                                                                                    Page    ARTICLE IV DEFERRAL CONTRIBUTIONS............................................................................ 5        Section 4.1    Deferral Contributions .......................................................................... 5        Section 4.2    Deferral Contributions Account ............................................................ 5  ARTICLE V EMPLOYER CONTRIBUTIONS AND EMPLOYER DISCRETIONARY                 MATCHING CONTRIBUTIONS .................................................................... 5        Section 5.1    Employer Contributions ........................................................................ 5        Section 5.2    Employer Contributions Account ......................................................... 5  ARTICLE VI DEEMED INVESTMENTS AND EARNINGS ..................................................... 6        Section 6.1    Deemed Investments ............................................................................. 6        Section 6.2    Crediting of Deferrals and Contributions ............................................. 6        Section 6.3    Statement of Accounts .......................................................................... 7  ARTICLE VII ESTABLISHMENT OF TRUST ........................................................................... 7        Section 7.1    Establishment of Trust .......................................................................... 7        Section 7.2    Status of Trust ....................................................................................... 7  ARTICLE VIII DISTRIBUTION OF PLAN BENEFITS ............................................................. 7        Section 8.1    Vesting of Accounts .............................................................................. 7        Section 8.2    Payment of Account Balances .............................................................. 8        Section 8.3    Payments in the Event of Unforeseeable Emergency ........................... 9        Section 8.4    Forfeitures ............................................................................................. 9        Section 8.5    Designation of Beneficiaries ................................................................. 9  ARTICLE IX AMENDMENT AND TERMINATION ................................................................. 9  ARTICLE X GENERAL PROVISIONS...................................................................................... 10        Section 10.1   Non-Alienation of Benefits ................................................................. 10        Section 10.2   Withholding for Taxes ........................................................................ 10        Section 10.3   Immunity of Committee Members...................................................... 10        Section 10.4   Plan Not to Affect Employment Relationship .................................... 10        Section 10.5   Action by the Employers .................................................................... 11        Section 10.6   Effect on Other Employee Benefit Plans ............................................ 11        Section 10.7   Employer Liability .............................................................................. 11        Section 10.8   Notices ................................................................................................ 11        Section 10.9   Gender, Number and Headings ........................................................... 11                                         ii        

 

                      TABLE OF CONTENTS                                                                                                        Page                 Section 10.10  Controlling Law .................................................................................. 11  Section 10.11  Successors ........................................................................................... 11  Section 10.12  Severability ......................................................................................... 11  Section 10.13  Subsequent Changes ........................................................................... 12  Section 10.14  Benefits Payable to Minors, Incompetents and Others ....................... 12  Section 10.15  409A Compliance ............................................................................... 12  Section 10.16  Receipt or Release............................................................................... 12  Section 10.17  Errors in Account Statements, Deferrals or Distributions .................. 12  Section 10.18  Domestic Relations Orders ................................................................. 12  Section 10.19  No Guarantee of Tax Consequences ................................................... 13  Section 10.20  Entire Agreement ................................................................................ 13                                                                  iii                    

 

                           John Bean Technologies Corporation                      Non-Qualified Savings and Investment Plan                                        Article I                                    Introduction               Section 1.1 Name;  Purpose.  John  Bean  Technologies Corporation  (the  “Company”) established  the John  Bean  Technologies  Corporation Non-Qualified  Savings  and  Investment Plan (the “Plan”), originally effective as of June 1, 2008, for the purpose of providing  deferred compensation to a select group of management or highly compensated employees (as  defined  for  purposes  of  Title  I  of  the  Employee  Retirement  Income  Security  Act  of  1974,  as  amended  (“ERISA”))  of  the  Company  and  of  certain  of  the  Company's  affiliates.  The Plan  constitutes  an  unfunded,  non-qualified,  deferred  compensation arrangement.  The  Plan  is  intended to, and will be interpreted to, comply in all respects with Section 409A of the Internal  Revenue Code of 1986, as amended (the “Code”) and is intended to constitute a “top-hat” plan  within the meaning of ERISA Sections 201(2), 301(a)(3) and 401(a)(1).  The Company hereby  amends and restates the Plan, effective January 1, 2019.               Section 1.2 Administration  of  the  Plan.   The  Plan  is  administered  by  the  Company  or, as  delegated  by  the  Board,  by  the Committee.   The duties  and  authority  of  the  Committee include:               (a)   interpreting and applying the Plan's terms;               (b)   adopting  any  rules  or  regulations  the  Committee  deems  necessary  or                    desirable to operate the Plan;               (c)   making whatever determinations are permitted or required to maintain or                    administer the Plan; and               (d)   taking  any  other  actions  that  prove  necessary  to  administer  the  Plan                    properly, in accordance with its terms.   Any decision of the Committee as to any matter within its authority will be final, binding and  conclusive  upon  the  Company,  any  Employer  and  each  Participant,  former  Participant,  designated beneficiary or other person claiming under or through any Participant or designated  beneficiary.   No  additional  authorization  or  ratification  by  the  Board  is  necessary  for  the  Committee to act on any matter within its authority.  An action taken by the Committee as to a  Participant will not be binding on the Committee regarding an action to be taken as to any other  Participant.  A member of the Committee may be a Participant, but he or she may not participate  in any decision that directly affects his or her rights under the Plan, or the computation of his or  her Plan benefits.  Each determination required or permitted under the Plan will be made by the  Committee in its sole and absolute discretion.  The Committee may delegate some or all of its  duties or responsibilities.      

 

                                      Article II                                    Definitions               Section 2.1 Account.  Account means a bookkeeping Account maintained by  the Company for a Participant, including his or her Deferral Contributions Account, Employer  Discretionary Matching Contributions Account and Employer Contributions Account.               Section 2.2 Account  Balance.  Account  Balance  means  the  value,  as  of  a  specified  date,  of  the  Account  maintained  by  the  Company  on  behalf  of  the  Participant’s  Account,  Deferral  Contributions  Account,  Employer  Discretionary  Matching  Contributions  Account or Employer Contributions Account.               Section 2.3 Adopting  Affiliate.  Adopting  Affiliate means  an  entity  that,  together with the Company, is considered as a single employer under Section 414(b), (c), (m) or  (o) of the Code, and has adopted the Savings Plan for its employees.               Section 2.4 Affiliated Group.  Affiliated Group means the group that consists  of the Company and every other entity that, together with the Company, is considered as a single  employer under Section 414(b), (c), (m) or (o) of the Code.               Section 2.5 Board.  Board means the Board of Directors of the Company.               Section 2.6 Code.  Code means  the  Internal  Revenue  Code  of  1986,  as  amended,  as  interpreted  by  Treasury  regulations  and  applicable  authorities  promulgated  thereunder.               Section 2.7 Committee.  Committee means  the JBT  Corporation Employee  Welfare Benefits Plan Committee, or its delegate.               Section 2.8 Company.  Company means John Bean Technologies Corporation               Section 2.9 Compensation.  Compensation means the total compensation paid  by the Employer to an eligible employee for each Plan Year, including Incentive Bonuses, that is  currently  includible  in  gross  income  for  federal  income  tax  purposes.  Notwithstanding  the  foregoing, Compensation shall not  include:  amounts  received  as  deferred  compensation;  disability  payments  from  insurance  or  the  Company’s  long-term  disability  plan;  workers’  compensation  benefits;  state  disability  benefits;  flexible  credits  (i.e.,  wellness  awards  and  payments for opting out of benefit coverage); expatriate premiums; grievance or settlement pay;  pay in lieu of notice; severance pay; incentives for reduction in force accrued (but not earned)  vacation;  other  special  payments  such  as  reimbursements,  relocation  or  moving  expense  allowances;  stock  options  or  other  stock-based  compensation  (except  as  provided  above);  any  gross-up  paid  by  an  Employer  on  any  amount  paid  that  is  Compensation  (as  defined  herein);  other distributions that receive special tax benefits; any amounts paid by an Employer to cover  an employee’s FICA tax obligation as to amounts deferred or accrued under any nonqualified  retirement plan of an Employer; and any gross-up paid by an Employer on any amount paid that  is not Compensation (as defined herein).  Notwithstanding anything herein to the contrary, no  amounts paid to a Participant more than 30 days after his or her termination of employment with  the Company or a Participating Employer will be considered Compensation.                                        -2-  

 

               Section 2.10 Deferral Contributions.  Deferral Contributions means the deferral  contributions  credited to a  Participant’s Deferral  Contributions Account maintained  by  the  Company on behalf of the Participant pursuant to Section 4.1.               Section 2.11 Deferral  Contributions  Account.  Deferral  Contributions  Account  means  the  Account  maintained  on  behalf  of  a  Participant by  the  Company to  represent  the  amount  of  the  Deferral  Contributions  credited  in  his  or  her  behalf,  as  adjusted  to  account  for  deemed gains and losses, withdrawals and distributions.               Section 2.12 Effective  Date.  Effective  Date means January  1, 2019,  the  effective date of this amended and restated Plan.  The Plan was originally effective June 1, 2008.               Section 2.13 Employer.   Employer means  the  Company  and/or  any  Adopting  Affiliate.               Section 2.14 Employer  Contributions.   Employer  Contributions  means  the  contributions  credited  to  a  Participant’s  Employer  Contributions  Account  maintained  by  the  Company on behalf of the Participant pursuant to Section 5.1.               Section 2.15 Employer  Contributions  Account.   Employer  Contributions  Account means the Account maintained on behalf of a Participant by the Company to represent  the  amount  of  Employer  Contributions  credited  in  his  or  her  behalf  (including  Matching  Contributions  credited  in  the  Participant’s  behalf  under  the  Plan  prior  to  January  1,  2009),  as  adjusted to account for deemed gains and losses, withdrawals and distributions.               Section 2.16 Employer  Discretionary  Matching  Contributions.   Employer  Discretionary Matching Contributions means the contributions credit to a Participant’s Employer  Discretionary  Matching  Contributions  Account  maintained  by  the  Company  on  behalf  of  the  Participant pursuant to Section 5.3.               Section 2.17 Employer  Discretionary  Matching  Contributions  Accounts.   Employer  Discretionary  Matching  Contributions  Account  means  the  Account  maintained  on  behalf  of  a  Participant  by  the  Company  to  represent  the  amount  of  Employer  Discretionary  Matching Contributions credited in his or her behalf, as adjusted to account for deemed gains,  losses, withdrawals and distributions.               Section 2.18 ERISA.  ERISA means the Employee Retirement Income Security  Act of 1974, as amended.               Section 2.19 Excess  Compensation.  Excess    Compensation  means  Compensation (excluding amounts a Participant deferred under the Plan during the Plan Year) in  excess  of  the  annual  compensation  limit  set  forth  under  Section  401(a)(17)  of  the  Code,  as  adjusted for a given Plan Year.               Section 2.20 Incentive Bonus.  Incentive Bonus  means amounts  paid  to  the  Participant by the Employer in the form of incentive compensation or any other bonus designated  by the Committee as eligible to be deferred under the Plan, before reductions for contributions to  or  deferrals  under  any  deferred  compensation  or benefit  plans  sponsored  by  the  Company.                                        -3-  

 

   Notwithstanding  the  foregoing,  Incentive  Bonus  shall  not  include  hiring  bonuses,  referral  bonuses,  stay  bonuses,  retention  bonuses  and  awards  (including  safety  awards  and  other  recognition  awards)  and  any  other  form of  irregular  pay  the  Committee  determines  to  be  ineligible to be deferred under the Plan.               Section 2.21 Participant.  Participant means  any  eligible  employee  of  an  Employer who participates in the Plan pursuant to Article III.               Section 2.22 Permitted  Investment.  Permitted  Investment means  a  notional  fund or type of notional investment approved by the Committee for Plan purposes.               Section 2.23 Plan.  Plan means this John Bean Technologies Corporation Non- Qualified Savings and Investment Plan.               Section 2.24 Plan Year.  Plan Year means the calendar year.               Section 2.25 Savings Plan.  Savings  Plan means  the John  Bean  Technologies  Corporation Savings and Investment Plan, as amended from time to time.                                     Article III                                 Plan Participation               Section 3.1 Eligibility.   An  employee  of  an  Employer  will  be  eligible  to  participate in any Plan Year if he or she meets all of the following conditions:               (a)   the  employee  is  part  of  a  select  group  of  management  or  highly                    compensated employees, within the meaning of Title I of ERISA;               (b)   the  employee  is  eligible  to  participate  in  the  Savings  Plan  for  the  Plan                    Year; and               (c)   the  Committee,  or its  delegate,  designates  the  employee  as  eligible  to                    participate in the Plan.               Section 3.2 Participation.  An employee who meets the conditions of Section  3.1 becomes a Participant effective January 1 of the Plan Year following the Plan Year in which  the  employee  satisfies  such conditions;  provided,  however, in  order  to  make  Deferral  Contributions under Article IV of the Plan, an eligible employee must execute and file with the  Company  a  deferral  election  for  such  Plan  Year  under  which  the  eligible  employee  elects  to  defer  a  certain  portion  of  the  eligible  employee’s  Compensation  for  such  Plan  Year,  in  the  manner  determined  by  the  Company  and  at  the  time  required  under  Article  IV.   Once  an  individual is a Participant, he or she will remain a Participant for so long as he or she has  an  Account  Balance,  although  a  Participant  may  continue  to  make  Deferral  Contributions  and  receive allocations  under the Plan only so  long  as  he or she  remains  an eligible  employee by  satisfying the conditions of Article III.                                         -4-  

 

                                     Article IV                               Deferral Contributions               Section 4.1 Deferral Contributions.  Each eligible employee as defined under  Section 3.1 who has made an election to defer a portion of his or her Compensation under the  Savings Plan for a Plan Year may elect to defer an additional amount under this Plan for that  Plan Year, as Deferral Contributions.  A Deferral Contribution is an amount, between 1% and  100% of the Participant's Compensation.   A Participant's Deferral Contributions for a Plan Year may not exceed his or her Compensation.   A Participant must make his or her deferral election for a Plan Year no later than the last day of  the preceding Plan Year, and may not change his or her deferral election during the Plan Year,  provided,  with  respect  to  the  deferral  of  any Incentive Bonuses,  the  deferral election must  be  made  no  later  than  the  last  day  of  the  Plan  Year  preceding  the  Plan  Year  in  which  the  performance  of  services giving rise to  the Incentive Bonus commences.   Notwithstanding  the  foregoing, when an employee first becomes an eligible employee, he or she may make a deferral  election no later than thirty days  after becoming  an eligible employee, so long as  the deferral  election  applies  to  Compensation  earned  during  the  Plan  Year  after  the  date  of  the  deferral  election.               Section 4.2 Deferral Contributions Account.  The Committee will establish and  maintain  a  Deferral  Contributions  Account  on  behalf  of  each  Participant  who  elects  to  make  Deferral Contributions.                                        Article V         Employer Contributions and Employer Discretionary Matching Contributions               Section 5.1 Employer Contributions.  With respect to each Plan Year for which  an  employee  remains  an  eligible  employee  and  satisfies  the  conditions  of  Article  III  for  such  Plan Year, the Participant will be credited with an Employer Contribution in an amount equal to  6% of the Participant’s Excess Compensation and 6% of the Participant’s Deferral Contributions  for such Plan Year.               Section 5.2 Employer  Contributions  Account.   The  Committee  will  establish  and maintain an Employer Contributions Account on behalf of each Participant who is credited  with Employer Contributions.                 Section 5.3 Employer Discretionary Matching Contributions.  With respect to  each Plan Year for which an employee remains an eligible employee, satisfies the conditions of  Article  III  for such Plan Year,  and defers the maximum  amount permitted to  be deferred and  matched under the Savings Plan for such Plan Year, the Company, in its discretion, may make an  Employer  Discretionary  Matching  Contribution  to  the  Employer  Discretionary  Matching  Contributions  Account  of  each  Participants  equal  to  an  amount  between  0% and  2%  of  (a) Deferral  Contributions made  by  the  Participant  for  the  Plan  Year  and  (b)  the  Participant’s  Excess Compensation (which percentage elected by the Company, in its discretion, shall be the  same for each eligible Participant).                                         -5-  

 

               Section 5.4 Employer  Discretionary  Matching  Contributions  Account.   The  Committee  will  establish  and  maintain  an  Employer  Discretionary  Matching  Contributions  Account  on behalf of each Participant  who is  credited with  Employer Discretionary Matching  Contributions.                                       Article VI                           Deemed Investments and Earnings               Section 6.1 Deemed Investments.               (a)   Each  Participant  may  designate  from  time  to  time,  in  the  manner                    prescribed by the Committee, that all or a portion of his or her Deferral                    Contributions  Account,  Employer  Discretionary  Matching  Contributions                    Account and Employer Contributions Account be deemed to be invested                    in one or more Permitted Investments.  The Committee will establish rules                    governing the dates as of which amounts will be deemed to be invested in                    the  Permitted  Investments  chosen  by  the  Participant,  and the  time  and                    manner  in  which  amounts  will  be  deemed  to  be  transferred  from  one                    Permitted  Investment  to  another,  pursuant  to  a  Participant’s  election  to                    change his or her deemed investments.  The Committee will also establish                    a  default  Permitted  Investment, in  which  the  Deferral  Contributions                    Account,  Employer  Discretionary  Matching  Contributions  Account and                    Employer  Contributions  Account  of  a  Participant  who  fails  to  make  an                    investment election will be deemed to be invested.  The Committee’s Plan                    investment election rules permit a Participant to transfer any or all of his                    or her Account from one investment option to another investment option.               (b)   Each Account will be deemed to receive all interest, dividends, earnings                    and other property that would be received by it if it were actually invested                    in  the  Permitted  Investment  in  which  it  is  deemed  to  be  invested.                     Similarly, each Account will be deemed to suffer all investment losses and                    other  diminutions  it  would  suffer  if  it  were  actually  invested  in  the                    Permitted  Investment  in  which  it  is  deemed  to  be  invested.   Gains  and                    losses will be credited to or debited from each Account at the times and in                    the manner specified by the Committee.               (c)   Neither the Company nor the Plan need make any Permitted Investment.                     If, from time to time, the Company actually makes an investment similar                    to  a  Permitted  Investment,  that  investment  will  be  solely  for  the                    Company's  own  account,  and  the  Participant  will  have  no  right,  title  or                    interest  in  that  investment.   Each  Participant  has  only  the  rights  of  an                    unsecured  creditor  of  the  Company  or  any  Employer,  as  to  any  amount                    owing to him or her under the Plan.               Section 6.2 Crediting  of  Deferrals  and  Contributions.   The  Company  will  credit all deemed Deferral Contributions to a Participant's Deferral Contributions Account within  a reasonable period of time after the date they  would have been paid  to the Participant  if the                                        -6-  

 

   Participant  had  not  elected  to  defer  them.   The  Company  will  credit  all deemed Employer  Contributions made on a Participant's behalf to the Participant's Employer Contributions Account  within a reasonable period after the end of the Plan Year.  The Company will credit all deemed  Employer  Discretionary  Matching  Contributions  made  on  a  Participant’s  behalf  to  the  Participant’s  Employer  Discretionary  Matching  Contributions  Account  within  a  reasonable  period after the end of the Plan Year.               Section 6.3 Statement of Accounts.  Within a reasonable period of time after  the end of each calendar quarter, the Company will provide each Participant with an electronic  statement showing the value of his or her Account as of the end of that calendar quarter.                                     Article VII                               Establishment of Trust               Section 7.1 Establishment of Trust.  The Company has, in its sole discretion,  established a grantor trust in order to accumulate assets to pay Plan obligations.  The assets and  income of any trust established under this Plan will be subject to the claims of the Company’s  general  creditors,  and  the  Employers'  general  creditors,  but  only  to  the  extent  such  assets  are  attributable to the contributions made on behalf of employees employed by such Employer.   The establishment or maintenance of a Plan trust will not affect the Employers' liability to pay  Plan  benefits,  except  as  and  to  the  extent  amounts  from  the  trust  are  actually  used  to  pay  a  Participant's Plan benefits.  If the Company does establish a trust under the Plan, the Company  will  determine  how  much  will  be  contributed  to  the  trust  and  when,  and  trust  assets  will  be  invested in accordance with the terms of the trust.               Section 7.2 Status of Trust.  A Participant will have no direct or secured claim  in any asset of the trust, or in specific assets of the Company or of his or her Employer, and will  have  the  status  of  a  general  unsecured  creditor  of  his  or  her  Employer,  for  any  amounts  due  under this Plan.                                     Article VIII                             Distribution of Plan Benefits               Section 8.1 Vesting  of  Accounts.  Each  Participant  will  at  all  times  be  fully  vested in his or her deemed Deferral Contributions Account.  A Participant’s vested interest in  his  or  her  deemed  Employer  Contributions  Account and  Employer  Discretionary  Matching  Contributions Account is determined according to the following schedule:                        Years of Service        Percent Vested                      Fewer than 1            0%                      1 but fewer than 2      331⁄3%                      2 but fewer than 3      662⁄3%                                         -7-  

 

                       3 or more               100%                         Section 8.2 Payment of Account Balances.   (a)   Generally,  the  vested  portion  of  a  Participant's  Account  Balance  will  be        paid to him or her (or, if the Participant has died, to his or her designated        beneficiary) in cash, in a single lump sum.   (b)   Notwithstanding Section 8.2(a), any such Participant may elect to have the        vested portion of his or her Account paid in annual, quarterly or monthly        installments over a 5-year-period; provided, such election is made no later        than  30  days  after  the  Participant  commences  initial  participation  in  the        Plan  or  such  election  is  made  in  accordance  with  the  requirements  of        Section 8.2(d).     (c)   Payment  to  the  Participant  of  the  lump  sum  or  installments  shall        commence as soon as administratively possible, but in any event no later        than  90  days  following  separation  from  service for  any  reason.         Notwithstanding  a  Participant’s  election  to  the  contrary,  payment  to  the        Participant’s  beneficiary  shall  be made in  a  single  lump  sum payment,        such  lump  sum  payment  to  be  made  within  90  days  following  the        Participant’s  date  of  death.   Notwithstanding  the  foregoing,  except  for        payments made upon separation due to death, no payments shall he made        to a Participant who is a “specified employee” (as defined in Section 409A        of the Code) of the Affiliated Group until on or after the first day of the        seventh  calendar  month  following  the  Participant's  separation  from        service.  If a separated Participant's vested Account Balance is not greater        than $10,000, then such Account Balance shall be paid to the Participant        in a lump sum within 90 days following separation from service.   (d)   A Participant  may  change  the  form  and  time  of  payment  that  he or she        previously elected, by notice filed with the Administrator provided:         (i)   Such election shall not take effect until at least 12 months after the              date on which the election is made;         (ii)  The first  payment with  respect  to  such election must be deferred              for a period of not less than five years from the date such payment              would otherwise have been made;         (iii) The new payment election shall not be effective if made less than              12 months prior to the date of the first scheduled payment; and         (iv)  The  Participant  may  file  a  new  payment  election  only  while              employed by the Company or any other Employer.                             -8-  

 

               Section 8.3 Payments in the Event of Unforeseeable Emergency.  A Participant  may  request,  in  the  manner  and  within  the  time  constraints established  by  the  Committee,  to  receive  an  emergency  payment  of  some  or  all  of  his  or  her  vested  Account  Balance.   The  Committee will authorize an emergency payment under this Section 8.3 only if the Participant  experiences  an  unforeseeable  emergency consistent  with  the  rules  promulgated  pursuant  to  Section 409A of the Code.  An emergency payment must be limited to the amount the Participant  reasonably needs to satisfy the unforeseeable emergency.  An unforeseeable emergency is severe  financial hardship to the Participant resulting from:               (a)   a sudden and unexpected illness or accident to the Participant or to his or                    her dependent (as defined in Section 152(a) of the Code); or               (b)   the Participant's losing his or her property due to casualty.   Whether a Participant suffers an unforeseeable emergency depends upon the facts of each case;  in no event, however, may the Participant receive an emergency payment if his or her hardship is  or  may  be  relieved  through  reimbursement  or  compensation  by  insurance  or  otherwise,  by  liquidation of the Participant's  assets (to the extent liquidation of those assets would not itself  cause severe financial hardship) or by ceasing to make deferrals under the Plan.  The need to  send  a  Participant's  child  to  college  or  the  desire  to  purchase a  home  are  not  unforeseeable  emergencies.               Section 8.4 Forfeitures.  The portion of a Participant's Employer Contributions  Account that is not fully vested will be forfeited if the requirements for vesting under Section 8.1  of the Plan are not satisfied.               Section 8.5 Designation  of Beneficiaries.   Each  Participant  may  name  any  person or persons to whom his or her vested Account Balance will be paid if the Participant dies  before  they  have  been  fully  distributed.   Each  beneficiary  designation  will  revoke  all  prior  beneficiary designations made by that Participant.  The Committee will designate the time and  manner  in  which  a  Participant  must  made  a  beneficiary  designation,  but  will  not  require  a  Participant  to  obtain  the  consent  of  his  or  her  current  beneficiary  to  the  naming  a  new  or  additional  beneficiaries.   A  beneficiary  designation  will  be  effective  only  if  it  meets  the  requirements specified by the Committee.  If a Participant fails to designate a beneficiary, or if  the Participant's beneficiary dies before the Participant does or before receiving the full amount  to which he or she is entitled, the Committee may, in its discretion, pay the vested portion of the  Participant's  Account  Balance  (or  the  portion  that  remains  unpaid)  to  one  or  more  of  the  Participant's relatives by blood, adoption or marriage, in the proportions it determines, or to the  legal representative of the estate of the later to die of the Participant and his or her designated  beneficiary.                                     Article IX                             Amendment and Termination               The Company has the right to amend or terminate the Plan by action of the Board,  or  by  action  of a committee  authorized  by  the  Board  to  amend or  terminate the  Plan.   Any  Employer  may  terminate  its  participation  in  the  Plan  at  any  time  by  appropriate  action,  in  its                                         -9-  

 

   discretion.  The Plan will automatically terminate as to any Employer upon termination of the  Employer’s  participation  in  the  Savings  Plan.   Notwithstanding  the  foregoing,  no  Plan  amendment  or  termination  may  adversely  affect  the  right  of  a  Participant  (or  his  or  her  designated beneficiary) to vested benefits already accrued in the Participant's behalf under this  Plan,  unless  the  Participant  (or  beneficiary)  consents  to  the  amendment.  Any  amendment  or  termination of the Plan shall be done in a manner so as to comply with Section 409A of the Code  (and all applicable regulations and other guidance thereunder).                                       Article X                                 General Provisions               Section 10.1 Non-Alienation of Benefits.  A Participant's rights to the amounts  credited  to  his  or  her  Account  under  the  Plan  cannot  be  granted,  transferred,  pledged  or  otherwise assigned, in whole or in part, by the voluntary or involuntary acts of any person, or by  operation  of  law,  and  will  not  be  liable  or  taken  for  any  obligation  of  the  Participant.   Any  attempted grant, transfer, pledge or assignment of a Participant's rights to Plan benefits will be  null and void and without any legal effect.               Section 10.2 Withholding  for  Taxes.   Notwithstanding  anything  contained  in  this Plan to the contrary, each Employer will withhold from any distribution, deferral or accrual  under the Plan whatever amount or amounts may be required to comply with the tax withholding  provisions of the Code or any State income tax act for purposes of paying any income, estate,  inheritance,  employment  or  other  tax  attributable  to  any  amounts  distributable  or  creditable  under the Plan.  To the extent permissible under Section 409A of the Code, the Company shall  have the right to reduce any payment (or other pay or benefits) by the amount of cash sufficient  to provide the amount of said taxes.               Section 10.3 Immunity  of  Committee  Members.   The  members  of  the  Committee may rely upon any information, report or opinion supplied to them by any officer of  an Employer or any legal counsel, independent public accountant or actuary, and will be fully  protected in relying on any such information, report or opinion.  No member of the Committee  will  have  any  liability  to  the  Company,  any  Employer  or  any  Participant,  former  Participant,  designated  beneficiary,  person  claiming  under  or  through  any  Participant  or  designated  beneficiary, or other person interested or concerned in connection with any Plan decision made  by that member of the Committee, so long as the decision was based on any such information,  report or opinion, and the Committee member relied on it in good faith.               Section 10.4 Plan  Not  to  Affect  Employment Relationship.   Neither  the  adoption of the Plan nor its operation will in any way affect the right and power of an Employer  to  dismiss  or  otherwise  terminate  the  employment,  or  change  the  terms  of  employment  or  amount of compensation, of any Participant at any time, for any reason or without cause.  By  accepting  any  payment  under  this  Plan,  each  Participant,  former  Participant,  and  designated  beneficiary,  and  each  person  claiming  under  or  through  a  Participant,  former  Participant  or  designated beneficiary, is conclusively bound by any action or decision taken or made under the  Plan by the Committee, the Company or any Employer.                                         -10-  

 

               Section 10.5 Action by the Employers.  Any action required or permitted to be  taken  under  the  Plan  by  an Employer  must  be  taken  by  its  board  of  directors,  by  a  duly  authorized committee of its board of directors, or by a person or persons authorized by its board  of directors or an authorized committee.               Section 10.6 Effect  on  Other  Employee  Benefit  Plans.   Any  compensation  deferred or accrued under this Plan, and any amount credited to a Participant's Account under  this  Plan,  will  not  be  included  in  the  Participant's  compensation  or  earnings  for  purposes  of  computing benefits under any other employee benefit plan maintained or contributed to by the  Employer, except as and to the extent required under the terms of that employee benefit plan or  applicable law.               Section 10.7 Employer  Liability.   Each  Employer  is  liable  to  pay  the  Plan  benefits earned or accrued for its eligible employees who are Participants.  With the consent of  the Board (or of a duly appointed delegate of the Board), any Employer may assume any other  Employer's  Plan  liabilities  and  obligations.   To  the  extent  that  an  Employer  assumes  another  Employer's  Plan  liabilities  or  obligations,  the  second  Employer  will  be released  from  any  continuing  obligation  under  the  Plan.   At  the  Company's  request,  a  Participant  or  designated  beneficiary  will  sign  any  documents  reasonably  required  by  the  Company  to  effectuate  the  purposes of this Section 10.7.               Section 10.8 Notices.   Any  notice  required  to  be  given  by  the  Company,  any  Employer or the Committee must be in writing and must be delivered in person, by registered  mail, return receipt requested, or by regular mail, telecopy or electronic mail.  Any notice given  by mail will be deemed to have been given on the date it was mailed, correctly addressed to the  last known address of the person to whom the notice is to be given.               Section 10.9 Gender,  Number  and  Headings.   Except  where  the  context  otherwise  requires,  in  this  Plan  the  masculine  gender  includes  the  feminine,  the  feminine  includes  the  masculine,  the  singular  includes  the  plural,  and  the  plural  includes  the  singular.   Headings are inserted for convenience only, are not part of the Plan, and are not to be considered  in the Plan's construction.               Section 10.10 Controlling  Law.   The  Plan  will  be  construed  according  to  the  internal  laws  of  Delaware,  to  the  extent  they  are  not  preempted  by ERISA  or any  applicable  federal law.               Section 10.11 Successors.  The Plan is binding on all persons entitled to benefits  under it, on their respective heirs and legal representatives, on the Committee and its successor,  and on any Employer and its successor, whether by way of merger, consolidation, purchase or  otherwise.               Section 10.12 Severability.  If any provision of the Plan is held to be illegal or  invalid for any reason, that illegality or invalidity will not affect the remaining provisions of the  Plan, and the Plan will be enforced and administered, from that point forward, as if the invalid  provisions had never been part of it.                                         -11-  

 

               Section 10.13 Subsequent  Changes.   All  benefits  to  which  any  Participant,  designated beneficiary or other person is entitled under this Plan will be determined according to  the terms of the Plan as in effect when the Participant ceases to be an eligible employee, and will  not  be  affected  by  any  subsequent  change  in  Plan  provisions,  unless  the  Participant  again  becomes  an  eligible  employee,  or  unless  and  to  the  extent  the  subsequent  change  expressly  applies to the Participant, his or her designated beneficiary or other person claiming through or  on behalf of the Participant or designated beneficiary.               Section 10.14 Benefits  Payable  to  Minors,  Incompetents  and  Others.   If  any  benefit is payable to a minor, an incompetent, or a person otherwise under a legal disability, or to  a person the Committee reasonably believes to be physically or mentally incapable of handling  and disposing of his or her property, the Committee has the power to apply all or any part of the  benefit directly to the care, comfort, maintenance, support, education or use of the person, or to  pay all or any part of the benefit to the person's parent, guardian, committee, conservator or other  legal representative, to the individual with whom the person is living, or to any other individual  or entity having the care and control of the person.  The Plan, the Committee, the Company, any  Employer and their employees and agents will have fully discharged their responsibilities to the  Participant or beneficiary entitled to a payment by making payment under this Section 10.14.               Section 10.15 409A  Compliance.  The  Company  intends  that  the  Plan  comply  with  the  requirements  of  Section  409A of  the  Code  (and  all  applicable  regulations  and  other  guidance  thereunder)  and the  Plan  shall  be  interpreted,  construed  and  administered  in  such  a  manner so as to comply with that intent. Notwithstanding the foregoing, the Company makes no  representation that the Plan complies with Section 409A of the Code.               Section 10.16 Receipt  or  Release.   Any  payment  made  in  good  faith  to  a  Participant or the Participant’s beneficiary shall, to the extent thereof, be in full satisfaction of all  claims against the the Committee, its members and the Company.  The Committee may require  such Participant or beneficiary, as a condition precedent to such payment, to execute a receipt  and release to such effect.                Section 10.17 Errors  in  Account  Statements,  Deferrals  or  Distributions.   In  the  event  an  error  is  made  in  an  Account  statement,  such  error  shall  be  corrected  on  the  next  statement  following  the  date  such  error  is  discovered.   In  the  event  of  an  operational  error,  including, but not limited to, errors involving deferral amounts, overpayments or underpayments,  such operational  error shall be corrected in a manner consistent with  and as permitted by any  correction  procedures  established  under Section 409A of  the  Code.   If  any  portion  of  a  Participant’s Account(s) under this Plan is required to be included in income by the Participant  prior to receipt due to a failure of this Plan to comply with the requirements of Section 409A of  the Code, the Committee may determine that such Participant shall receive a distribution from  the Plan in an amount equal to the lesser of (i) the portion of his or her Account required to be  included  in  income  as  a  result  of  the  failure  of  the  Plan  to  comply  with  the  requirements  of  Section 409A of the Code, or (ii) the unpaid Account balance.               Section 10.18 Domestic Relations Orders.  Notwithstanding any provision in this  Plan  to  the  contrary,  in  the  event  that  the  Committee  receives  a  domestic  relations  order,  as  defined in Section 414(p)(1)(B) of the Code, pursuant to  which a  court has  determined that  a                                        -12-  

 

   spouse or former spouse of a Participant has an interest in the Participant’s benefits under the  Plan, the Board shall have the right to immediately distribute the spouse’s or former spouse’s  interest in the Participant’s benefits under the Plan to such spouse or former spouse to the extent  necessary to fulfill such domestic relations order, provided that such distribution is in accordance  with the requirements of Section 409A of the Code.               Section 10.19 No  Guarantee  of  Tax  Consequences.   The  Company  and  the  Committee make no commitment or guarantee to any Participant that any federal, state or local  tax treatment will apply or be available to any person eligible for benefits under the Plan and  assume no liability whatsoever for the tax consequences to any Participant.               Section 10.20 Entire  Agreement.   Unless  specifically  indicated  otherwise,  this  Plan supersedes any and all prior communications, understandings, arrangements or agreements  between  the  parties,  including  the  Employer,  the  Committee  and  any  and  all  Participants,  whether written, oral, express or implied relating thereto.         IN WITNESS WHEREOF, the Company has caused this Plan to be executed in its name  and behalf on this 24th day of August, 2018 to be effective, as amended and restated, January 1,  2019.                                       JOHN BEAN TECHNOLOGIES CORPORATION                                                                                                                  By: /s/ Jason T. Clayton                                      Its:  EVP-Human Resources                                              -13-Exhibit

Exhibit 10.2
NINETEENTH AMENDMENT 
OF 
JOHN BEAN TECHNOLOGIES CORPORATION SAVINGS AND INVESTMENT PLAN
(As Amended and Restated, Effective as of January 1, 2012)

WHEREAS, John Bean Technologies Corporation (the “Company”) maintains the JBT Corporation Savings and Investment Plan (the “Plan”);
WHEREAS, the Company now deems it necessary and desirable to amend the Plan in certain respects; and
WHEREAS, this Nineteenth Amendment shall supersede the provisions of the Plan to the extent those provisions are inconsistent with the provisions of the amendment;
NOW, THEREFORE, by virtue of the authority reserved to the Company by Section 12.1 of the Plan, the Plan is hereby amended as follows, effective August 1, 2017, unless specifically stated otherwise: 
•Appendix D is hereby amended in its entirety to read as follows:

Appendix D

List of Airport Services Locations

	
					
	Name of Division Location
	Effective Date
	End Date
	Prevailing Wage Employee (Y/N)
	Living Wage Employee (Y/N)

	LAX Terminal 6 (FFT AS LAX PW 50248)
	January 1, 2011
	 
	Y
	Y

	Miami-Dade County (FFT AS MIAMI PW 50245)
	January 1, 2011
	 
	Y
	N

	Orange County (FFT AS ORANGE CTY PW 50246)
	January 1, 2011
	 
	Y
	N

	Long Beach (FFT AS Long Beach PW 50247)
	January 1, 2011
	 
	Y
	N

	LAX Delta (FFT AS LAX DELTA LP 50249)
	March 1, 2011
	 
	N
	N

	Cincinnati (FFT AS CINCINNATI LP 50250)
	June 1, 2011
	 
	N
	N

	LAX Terminal 2 (FFT AS LAX2 LP 50251)
	September 1, 2011
	 
	N
	N

	Houston Train (FFT AS HAS TRAIN LP 50253)
	September 1, 2011
	December 31, 2015
	N
	N

	Chicago O’Hare (FFT AS CHI ORD LP 50252)
	October 1, 2011
	 
	N
	N

	
					
	Name of Division Location
	Effective Date
	End Date
	Prevailing Wage Employee (Y/N)
	Living Wage Employee (Y/N)

	Dallas-Fort Worth (FFT AS Dallas Terminal E 50228)
	January 1, 2012
	 
	N
	N

	Rhode Island (FFT AS RHODE ISLAND LP 50254)
	July 1, 2012
	 
	N
	N

	Ontario Terminals 2 and 4 (FFT AS ONTARIO T2 T4 LP 50255)
	July 1, 2013
	 
	N
	N

	Salt Lake City Baggage System (FFT AS SLC BAG SYSTEM LP 50256)
	July 1, 2013
	 
	N
	N

	Greensboro NC Ground Support (FFT AS GSO GRND SUPPT LP 50257)
	November 1, 2013
	 
	N
	N

	Houston Airport System (FFT AS HAS 50237)
	January 1, 2014
	 
	N
	N

	Phoenix Baggage Handling System (FFT AS PHX BHS LP 50258)
	March 1, 2014
	 
	N
	N

	Dallas-Fort Worth Mechanical, Electrical, and Plumbing Services (FFT AS DFW MEPS LP 50259)
	July 1, 2014
	 
	N
	N

	Columbia, SC (FFT AS COLUMBIA SC LP 50260)
	November 1, 2014
	 
	N
	N

	Richmond, VA (FFT AS RICHMOND LP 50261)
	July 1, 2015
	 
	N
	N

	West Palm Beach (FFT AS WEST PALM PBI LP 50262)
	November 1, 2015
	 
	N
	N

	Dallas Terminal D (FFT AS DFW Terminal D LP 50263)
	January 1, 2016
	 
	N
	N

	Dallas Southgate (FFT AS DFW Southgate LP 50264)
	July 1, 2016
	 
	N
	N

	Baltimore International (FFT AS Baltimore LP 50265)
	July 1, 2016
	 
	N
	N

	Dallas Enterprise  (FFT AS DFW Enterprise LP 50266)
	February 1, 2017
	 
	N
	N

	Nashville BNA  (FFT AS Nashville LP 50267)
	April 1, 2017
	 
	N
	N

	Philadelphia - Union (FFT AS PHILA UNION 50268)
	August 1, 2017
	 
	N
	N

IN WITNESS WHEREOF, the Company has caused this amendment to be executed by a duly authorized representative this 2nd day of August, 2017.

JOHN BEAN TECHNOLOGIES 
CORPORATION

By:    s/ Jason T. Clayton

Its:    Executive Vice President – Human Resources

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00288-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00288-of-00352.parquet"}]]