Document:

exv10w6

Exhibit 10.6

THE J. M. SMUCKER COMPANY

VOLUNTARY DEFERRED COMPENSATION PLAN

(Amended and Restated Effective January 1, 2009)

     The J. M. Smucker Company Deferred Compensation Plan (hereinafter referred to as the “Plan”),
established effective as of May 1, 2003, by The J. M. Smucker Company, (hereinafter referred to as
the “Company”) and will be maintained by the Company for the purpose of providing benefits for
certain employees as provided herein. The Plan was amended and restated in good faith, effective
January 1, 2005, in order to comply with Code §409A and the regulations and other guidance
promulgated thereunder, and is now further amended to clarify certain provisions of the Plan in
order to assure more fully that the Plan is compliant with Code §409A.

ARTICLE I

ELIGIBILITY AND PARTICIPATION

     Section 1.1 Participants. The Company’s Board of Directors has identified
certain members of management who are highly compensated employees eligible to participate in the
Plan and has provided such individuals with written notice of eligibility (each a “Participant”).

     Section 1.2 Elections to Defer. The individuals described in Section 1.1
shall be eligible to participate in the Plan and may do so by filing a written election with the
Company in such form as approved by the Company. In the first year in which a Participant becomes
eligible to participate in the Plan, in order to participate in the Plan, the newly eligible
Participant must

 

 

make an election to defer compensation for services to be performed for the Company within 30 days
after he or she becomes eligible. Subsequent elections to defer payment of compensation that would
otherwise be paid as annual base salary must be made before the beginning of the calendar year for
which the compensation is earned. Subsequent elections to defer payment of compensation that would
otherwise be paid as an annual bonus award must be made before the beginning of the fiscal year
(May 1) for which the bonus compensation is earned.

     Section 1.3 Participant Accounts. For each Participant, the Company shall
establish and maintain a separate deferred compensation account (the “Voluntary Deferral Account”).
The amount of each Participant’s compensation which is deferred pursuant to the deferral election
form shall be credited to the Voluntary Deferral Account as of the date such compensation otherwise
would be payable. Participants shall always be 100% percent vested in the balance in their
Voluntary Deferral Account and any earnings and losses on such amounts. In addition, for each
Participant who has a Grandfathered Benefit, as defined in this Section 1.3, the Company shall
determine the portion of the Participant’s Voluntary Deferral Account that is a Grandfathered
Benefit (as defined in this Section 1.3) (the “Grandfathered Portion”) which shall consist of all
amounts to which a Participant has a legally binding right to be paid and to which the right to be
paid was earned and vested prior to January 1, 2005, and any earnings or losses on such amounts
(the “Grandfathered Benefit”). Determination of the Grandfathered Benefit shall be made in
accordance with the provisions of Code § 409A and Treasury Regulation §1.409A-6(a)(3)(ii) and (iv).
No amount shall actually be set aside for payment under the Plan, and the Voluntary Deferral
Account shall be maintained for record keeping purposes only. Any Participant to whom an amount is
credited under the Plan shall be deemed a

 

 

general, unsecured creditor of the Company.

     Section 1.4 Elections to Defer Compansation. Any Participant may defer all or
any portion (up to the limits specified in Section 2.1 of this Plan) of his or her compensation
otherwise earned by him or her for the calendar year or fiscal year, as applicable, beginning after
the date of such election. Any amounts deferred shall be paid to the Participant only as provided
in this Plan. Any Participant may change the amount of, or suspend, future deferrals with respect
to compensation otherwise payable to him or her for calendar or fiscal years, as applicable,
beginning after the date of change or suspension. The election to defer shall be irrevocable as to
the deferred compensation for the period for which the election is made.

ARTICLE II

DEFERRED COMPENSATION

     Section 2.1 Deferred Compensation. Each Participant will have the right to
defer up to fifty percent (50%) of his/her respective annual base salary and up to one hundred
percent (100%) of his/her respective annual bonus award, and such amounts will be deemed
contributed to the Participant’s Voluntary Deferral Account. Annually, the Company will provide to
each Participant an election to defer form, either as a paper form or electronically, which must be
completed before: (i) December 31, in order to be effective for the subsequent calendar year’s
compensation that would otherwise have been paid as annual base salary, and (ii) April 30, in order
to be effective for the subsequent fiscal year’s compensation that would otherwise have been paid
as an annual bonus award.

 

 

     Section 2.2 Deemed Investment Earnings. All amounts credited under the terms
of the Plan to the Voluntary Deferral Account maintained in the name of a Participant by the
Company shall be credited with earnings or losses based upon the Participant’s deemed investments
made pursuant to an investment election form provided by the Company either as a paper form or
electronically. The investment vehicles available pursuant to this Plan are listed in Exhibit
A attached to the Plan. Such earnings or losses shall continue to be credited to the
Participant’s balance in the Voluntary Deferral Account until the entire amount credited to the
account has been distributed to the Participant or to the Participant’s beneficiary in accordance
with a beneficiary designation form delivered to the Company. The Company retains the right to
change the available investment vehicles at its sole discretion. Participants will have the right
to change deemed investment vehicles in accordance with administrative procedures adopted by the
Company by completing new investment elections in the paper or electronic form provided by the
Company.

ARTICLE III

DISTRIBUTION

     Section 3.1 Distribution of Grandfathered Benefit. Notwithstanding any
provisions of the Plan to the contrary, distribution of a Grandfathered Benefit shall be determined
in accordance with the provisions of the Plan in effect on December 31, 2004, and as provided on
Addendum I to the Plan.

 

 

      Section 3.2 Distribution of Nongrandfathered Benefit. Distribution
of amounts deferred with respect to a Participant under the Plan, other than a Grandfathered
Benefit, will be payable as set forth below or in Section 3.3, as applicable, based on the earliest
to occur of such Participant’s Separation from Service, death (to which Section 3.3(a) applies) or
Total Disability (to which Section 3.3(b) applies). In the event death causes a Separation from
Service, death shall be deemed to be the earliest event to occur under the Plan.

     If Separation from Service is the earliest such event for a Participant (and such Separation
from Service does not occur within the two years following a Change in Control, in which case
Section 3.3(c) applies) then payment shall be made or commence on the first anniversary of the date
on which such Participant has a Separation from Service. Such distributions will be made in ten
annual installments on the first through the tenth anniversaries of the date the Participant has
such a Separation from Service, and shall reflect any gains or losses in the Participant’s
Voluntary Deferral Account in such manner as the Company shall determine. In the alternative, the
Participant may select one of the distribution alternatives set forth below:

     (a) a lump sum payment made within 60 days of such Separation from Service; or

     (b) substantially equal annual installments for not less than two (2) and not greater than ten
(10) years. Distribution shall commence on the first anniversary of the date on which the
Participant has such Separation from Service, with subsequent installments made on each anniversary
date following the date of the first installment. The final installment will be the balance of the
Participant’s Voluntary Deferral Account.

     Selection of an alternative form of distribution must be made prior to the calendar year or
fiscal year, as applicable, in which the compensation would be otherwise paid, as provided in
Section 1.2 of the Plan. Subsequent changes to an election of an alternative form of distribution
or any

 

 

election to defer the commencement of distribution, with respect to amounts deferred in any
calendar year or fiscal year, as applicable, shall not be effective unless the election satisfies
the following requirements:

     (1) A change of election will not be effective until at least twelve (12) months after the
date on which it is filed by the Participant with the Company.

     (2) A change of election with respect to a payment commencing on, or made on, a specified date
may not be filed with the Company less than twelve (12) months prior to such date.

     (3) A change of election with respect to a time of payment or a method of payment must provide
that the payment subject to the change be deferred for a period of not less than five (5) years
from the date such payment would otherwise have been made except in the event of a payment made on
account of the Participant’s death or Total Disability.

The Company may impose such other restrictions and limitations on subsequent changes to an election
relating to the time or form of distribution as it determines appropriate.

     Section 3.3 Distribution of Nongrandfathered Benefit in Event of Death, Total Disability
or Separation after a Change in Control. To the extent applicable pursuant to Section 3.2:

     (a) Within 30 days following the date on which a Participant dies, the Company will distribute
to the Participant’s primary beneficiary in a single lump sum the amount credited to the
Participant’s Voluntary Deferral Account. If the primary beneficiary is no longer alive, then such
amounts shall be distributed to the Participant’s secondary beneficiary. If a Participant has not
designated a beneficiary, or if no designated beneficiary is living on the date of distribution,
then such amounts shall be distributed to such Participant’s spouse, or if deceased, or none, then
to the Participant’s children, per stirpes, or if none, then to the Participant’s estate.

     (b) Within 30 days following the date on which a Participant incurs a Total Disability,

 

 

the Company will distribute to the Participant in a single lump sum the amount credited to his
Voluntary Deferral Account.

     (c) If a Participant incurs a Separation from Service for any reason (whether by reason of his
voluntary or involuntary termination of employment) within the two years following a Change in
Control, the Company will distribute to the Participant in a single lump sum within 30 days
following the date of such Separation from Service the amount credited to the Participant’s
Voluntary Deferral Account.

     Section 3.4 Distribution of Nongrandfathered Benefit upon Death following
Separation from Service. If a Participant should die after Separation from Service and before
distribution of the full amount of the Voluntary Deferral Account has been made to the Participant
(whether before or after payments have commenced), any remaining amounts shall be distributed to
the Participant’s primary beneficiary by the same method as distributions were being made to the
Participant or were scheduled to be made. If the primary beneficiary is no longer alive, then such
amounts shall be distributed to the Participant’s secondary beneficiary. If a Participant has not
designated a beneficiary, or if no designated beneficiary is living on the date of distribution,
then, such amounts shall be distributed to such Participant’s spouse, or if deceased or none, then
to the Participant’s children per stirpes, or if none, then to the Participant’s estate.

     Section 3.5 Distribution of Small Amounts. If, at any time following
Separation from Service, the value of a Participant’s Voluntary Deferral Account is less than
$10,000, the Company may elect to distribute such account balance in a lump sum payment regardless
of the Participant’s election.

     Section 3.6 Distributions of Amounts in Excess of Code § 162(m).
Notwithstanding

 

 

the above provisions, no amount may be distributed from the Plan if the Company reasonably
anticipates that such amount would not be deductible under Code §162(m), as determined by the Board
of Directors in its sole discretion, and in accordance with Code §409A and the Treasury regulations
promulgated thereunder.

     Section 3.7 Distributions of Amounts Deemed Includable in Gross Income.
Notwithstanding any provisions of the Plan to the contrary, if, at any time, a court or the
Internal Revenue Service determines that an amount in a Participant’s Voluntary Deferral Account is
includable in the gross income of the Participant and subject to tax, the Board of Directors of the
Company may, in its sole discretion, and in accordance with Code § 409A and the Treasury
regulations promulgated thereunder, permit a lump sum distribution of an amount equal to the amount
determined to be includable in the Participant’s gross income.

     Section 3.8 Distributions of Amounts in Violation of Securities Laws.
Notwithstanding any provisions of the Plan to the contrary, a payment under the Plan may be delayed
if the Company reasonably anticipates that the making of such payment will violate Federal
securities laws or other applicable law, in the Company’s sole discretion, and in accordance with
Code §409A and the Treasury regulations promulgated thereunder, provided that the payment is made
on the earliest at which the Company reasonably anticipates that the making of the payment will not
cause such violation.

     Section 3.9 Six-Month Delay of Distributions to Specified Employees. Under no
circumstances, other than death as set forth above, will a Participant who is a Specified Employee,
as of the date of the Participant’s Separation from Service, receive a distribution under the Plan
earlier than six (6) months following such Participant’s Separation from Service.

 

 

ARTICLE IV

AMENDMENT AND TERMINATION OF PLAN

     The Company reserves the right to amend or terminate the Plan at any time,
prospectively or retroactively, through an instrument executed by an officer pursuant to
authorization or ratification by the Board or by any committee designated by the Board. Any
termination shall be in writing and shall be effective when made. In the event the Company elects
to terminate the Plan, any amounts credited to the Voluntary Deferral Account of any Participant
shall remain subject to the provisions of the Plan (including Article III and Addendum I,
as applicable) and distribution will not be accelerated because of the termination of the Plan,
except as otherwise provided in an amendment to this Plan, and under the circumstances permitted in
accordance with Code §409A. Notification to Participants of any amendment or termination shall be
in writing and delivered by first class mail, addressed to each Participant at the Participant’s
last known address, or by such other method as the Company may determine. No amendment or
termination shall directly or indirectly reduce the balance of any Voluntary Deferral Account
described in this Plan as of the later of the date of such amendment or termination, or the
effective date of such amendment or termination. No additional credits or contributions will be
made to the Voluntary Deferral Accounts of the Participants under the Plan after termination of the
Plan, but Voluntary Deferral Accounts of the Participants under the Plan will continue to fluctuate
with investment gains and losses until all benefits are distributed to the participants or to their
beneficiaries.

 

 

ARTICLE V

CLAIMS PROCEDURE

     Section 5.1 Claims Reviewer. For purposes of handling claims with respect to
this Plan, the “Claims Reviewer” shall be the benefits committee, unless another person or
organizational unit is designated by the Company as Claims Reviewer.

     Section 5.2 Claims for Benefits. An initial claim for benefits under the Plan
must be made by the Participant or his or her beneficiary in accordance with the terms of the Plan
through which the benefits are provided. Not later than 90 days after receipt of such a claim, the
Claims Reviewer will render a written decision on the claim to the claimant, unless special
circumstances require the extension of such 90-day period. If such extension is necessary, the
Claims Reviewer shall provide the Participant or the Participant’s beneficiary with written
notification of such extension before the expiration of the initial 90-day period. Such notice
shall specify the reason or reasons for such extension and the date by which a final decision can
be expected.. In no event shall such extension exceed a period of 90 days from the end of the
initial 90-day period.

     In the event the Claims Reviewer denies the claim of a Participant or the beneficiary in whole
or in part, the Claims Reviewer’s written notification shall specify, in a manner calculated to be
understood by the claimant, the reason for the denial; a reference to the Plan or other document or
form that is the basis for the denial; a description of any additional material or information
necessary for the claimant to perfect the claim; an explanation as to why such information or
material is necessary; and an explanation of the applicable claims procedure.

     Should the claim be denied in whole or in part and should the claimant be dissatisfied with
the

 

 

Claims Reviewer’s disposition of the claimant’s claim, the claimant may have a full and fair review
of the claim by the Company (but not the same person who reviewed the initial claim, or subordinate
of such person) upon written request therefore submitted by the claimant or the claimant’s duly
authorized representative and received by the Company within 60 days after the claimant receives
written notification that the claimant’s claim has been denied In connection with such review, the
claimant or the claimant’s duly authorized representative shall be entitled to review pertinent
documents and submit the claimant’s views as to the issues, in writing. The Company shall act to
deny or accept the claim within 60 days after receipt of the claimant’s written request for review
unless special circumstances require the extension of such 60-day period. If such extension is
necessary, the Company shall provide the claimant with written notification of such extension
before the expiration of such initial 60-day period. In all events, the Company shall act to deny
or accept the claim within 120 days of the receipt of the claimant’s written request for review.
The action of the Company shall be in the form of a written notice to the claimant and its contents
shall include all of the requirements for action on the original claim.

     In no event may a claimant commence legal action for benefits the claimant believes are due to
the claimant until the claimant has exhausted all of the remedies and procedures afforded the
claimant by this Article V.

ARTICLE VI

ADMINISTRATION

     Section 6.1 Plan is Unfunded. The right of a Participant or the Participant’s
beneficiary to receive a distribution hereunder shall be an unsecured claim against the general
assets of the Company, and neither a Participant nor his or her designated beneficiary shall have
any rights in or against any amount

 

 

credited to any Voluntary Deferral Accounts under this Plan or any other assets of the Company. The
Plan at all times shall be considered entirely unfunded both for tax purposes and for purposes of
Title I of the Employee Retirement Income Security Act of 1974, as amended. Any funds invested
hereunder shall continue for all purposes to be part of the general assets of the Company and
available to its general creditors in the event of bankruptcy or insolvency. Voluntary Deferral
Accounts under this Plan and any benefits which may be payable pursuant to this Plan are not
subject in any manner to anticipation, sale, alienation, transfer, assignment, pledge, encumbrance,
attachment, or garnishment by creditors of a Participant or a Participant’s beneficiary. The Plan
constitutes a mere promise by the Company to make benefit payments in the future. No interest or
right to receive a benefit may be taken, either voluntarily or involuntarily, for the satisfaction
of the debts of, or other obligations or claims against, such person or entity, including claims
for alimony, support, separate maintenance and claims in bankruptcy proceedings.

     Section 6.2 Plan Administration. The Plan shall be administered by the
benefits committee or such other committee as designated by the Board of Directors of the Company.
The committee administering the Plan shall have the authority, duty and power to interpret and
construe the provisions of the Plan and the duty and responsibility of maintaining records, making
the requisite calculations and disbursing the payments hereunder The Board shall have the authority
to determine and identify participants eligible to participate in the Plan.

     Section 6.3 Expenses of Administration. Expenses of administration shall be
paid by the Company. The committee administering the Plan shall be entitled to rely on all tables,
valuations, certificates, opinions, data and reports furnished by any actuary, accountant,
controller, counsel or other person employed or retained by the Company with respect to the Plan.

     Section 6.4 Individual Participant Accounts. The committee administering the
Plan shall

 

 

furnish individual annual statements of accrued benefits to each Participant, or current
beneficiary, in such form as determined by the Company or as required by law.

     Section 6.5 No Guaranty of Plan Benefits or of Employment. The sole rights of
a Participant or beneficiary under this Plan shall be to have this Plan administered according to
its provisions, to receive whatever benefits he or she may be entitled to hereunder, and nothing in
the Plan shall be interpreted as a guaranty that any funds in any trust which may be established in
connection with the Plan or assets of the Company will be sufficient to pay any benefit hereunder.
Further, the adoption and maintenance of this Plan shall not be construed as creating any contract
of employment between the Company and any Participant. The Plan shall not affect the right of the
Company to deal with any participants in employment respects, including their hiring, discharge,
compensation, and conditions of employment.

     Section 6.6 Incompetent Participant. The Company may from time to time
establish rules and procedures which it determines to be necessary for the proper administration of
the Plan and the benefits payable to an individual in the event that individual is declared
incompetent and a conservator or other person legally charged with that individual’s care is
appointed. Except as otherwise provided herein, when the Company determines that such individual is
unable to manage his or her financial affairs, the Company may pay such individual’s benefits to
such conservator, person legally charged with such individual’s care, or institution then
contributing toward or providing for the care and maintenance of such individual. Any such payment
shall constitute a complete discharge of any liability of the Company and the Plan for such
individual.

     Section 6.7 Lost Participants. Each Participant shall keep the Company
informed of his or her current address and the current address of his or her designated
beneficiary. The Company shall not be obligated to search for any person.

 

 

     Section 6.8 No Liability. Notwithstanding any provision herein to the
contrary, neither the Company nor any individual acting as an employee or agent of the Company
shall be liable to any Participant, former Participant, designated beneficiary, or any other person
for any claim, loss, liability or expense incurred in connection with the Plan, including without
limitation, the investment performance of any deemed investments, unless attributable to fraud or
willful misconduct on the part of the Company or any such employee or agent of the Company.

     Section 6.9 Applicable Law. All questions pertaining to the construction,
validity and effect of the Plan shall be determined in accordance with the laws of the United
States, and to the extent not preempted by such laws, by the laws of the State of Ohio.

     Section 6.10 Compliance with Code §409A. To the extent applicable, it is
intended that this Plan and any deferrals of compensation made hereunder comply with the provisions
of Code §409A. This Plan and any deferrals or compensation made hereunder shall be administrated
in a manner consistent with this intent, and any provisions that would cause this Plan or any grant
made hereunder to fail to satisfy Code §409A shall have no force and effect until amended to comply
with Code §409A (which amendment may be retroactive to the extent permitted by Code §409A and may
be made by the Company without the consent of Participants). Any reference in this Plan to Code
§409A will also include any proposed, temporary or final regulations, or any other guidance,
promulgated with respect to Code §409A by the U.S. Department of the Treasury or the Internal
Revenue Service. In no event, however, shall this section or any other provisions of this Plan be
construed to require the Company to provide any gross-up for the tax consequences of any provisions
of, or payments under, this Plan and the Company shall have no responsibility for tax or legal
consequences to any Participant (or beneficiary) resulting from the terms or operation of this
Plan.

 

 

ARTICLE VII

DEFINITIONS

Whenever used in the Plan, the following words and phrases shall have the meanings set forth below
unless the context plainly requires a different meaning, and when a defined meaning is intended,
the term is capitalized in this document.

7.1 “Change of Control” means the definition of change of control provided in The J. M. Smucker
Company 2006 Equity Compensation Plan (the “2006 Plan”) provided that, for purposes of
distributions from the Plan (other than Grandfathered Benefits), such distribution shall only be
made on the basis of a Change in Control to the extent that the event constitutes a “change in
ownership or effective control” of the Company or “in the ownership of a substantial portion of the
assets” of the Company (as determined under Code §409A, and Treasury regulation §1.409A-3(i)(5)).

7.2 “Code” means the Internal Revenue Code of 1986, as amended from time to time, and any lawful
regulations or other pronouncements relating thereto.

7.3 “Company” means The J. M. Smucker Company and any of its subsidiaries or affiliated business
entities, as determined in accordance with the provisions contained in Code §414.

7.4 “Participant” means any employee described in Article I of this Plan.

7.5 “Plan” means The J. M. Smucker Company Voluntary Deferred Compensation Plan, as of May 1,

 

 

2003, amended and restated effective January 1, 2005, and as further amended and restated herein
effective January 1, 2009, and including any subsequent amendments thereto.

7.6 “Separation from Service” means a separation from service as defined in Code §409A with the
Company and all other related employers of the Company (as determined under Code §414), which Code
§409A is incorporated herein by reference, generally including the severance of the Employee’s
employment relationship for any reason, voluntarily or involuntarily, and with or without cause,
including without limitation, quit, discharge, retirement, death, leave of absence (including
military leave, sick leave, or other bona fide leave of absence if the period of such leave exceeds
the greater of six (6) months, or the period for which the Employee’s right to reemployment is
provided either by statute or by contract) or permanent decrease in service to the Company and all
such other related employers to a level that is no more than twenty percent (20%) of its prior
level.

7.7 “Specified Employee” refers to an individual defined in Code §416(i) without regard to
paragraph (5) of that Section as of the date of the individual’s Separation from Service determined
as provided in Treasury Regulation §1.409A-1(i).

7.8 “Totally Disabled” or “Total Disability” means the first to occur of the following conditions,
all as determined in accordance with Code §409A:

(a) The Participant is unable to engage in any substantial gainful activity by reason of any
medically determinable physical or mental impairment that can be expected to result in death
or can be expect to last for a continuous period of not less than 12 months, or

(b) The Participant is, by reason of any medically determinable physical or mental
impairment

 

 

that can be expected to result in death or can be expected to last for a continuous period
of not less than 12 months, receiving income replacement benefits for a period of not less
than 3 months under any plan covering employees of the Employer, or

(c) The Participant has been determined to be totally disabled by the Social Security
Administration.

The Company hereby adopts this Amendment and Restatement of the Plan effective as of January 1,
2009.

	 	 	 	 	 

	 

	 	THE J. M. SMUCKER COMPANY
	 	 
	 
	 	 	 	 
	 

	 	/s/ Mark R. Belgya	 	 
	 

	 	 	 	 
	 

	 	Name: Mark R. Belgya	 	 
	 

	 	Title: Senior Vice President and Chief Financial Officer	 	 
	 
	 	 	 	 
	 

	 	DATED: December 31, 2010	 	 

 

 

ADDENDUM I

PROVISIONS WITH RESPECT TO GRANDFATHERED BENEFITS

     Section 1.1 Grandfathered Benefits. A Participant’s Grandfathered Benefit,
as defined in Section 1.3 of the Plan, shall be determined in accordance with the provisions of
Code §409A and Treasury Regulation §1.409A-6(a)(3)(ii) and (iv). Notwithstanding any provision of
the Plan to the contrary, any Grandfathered Benefit under the Plan shall be subject to the
provisions of the Plan in effect on December 31, 2004, and as provided in this Addendum I.

     Section 1.2 Distributions Upon Retirement or Termination of Employment.
Distribution of a Grandfathered Benefit under the Plan will commence, on the first anniversary of
the date on which a Participant’s employment with the Company and all other related employers of
the Company (as determined under Code §414) terminates for any reason, (other than death,
disability (as defined in the 1998 Equity and Performance Incentive Plan), or change in control (as
defined in the 1998 Equity and Performance Incentive Plan)). The distributions will be in ten
annual installments, and shall reflect any gains or losses in the Grandfathered Portion of the
Participant’s Voluntary Deferral Account in such manner as the Company shall determine and which is
consistent with Treasury Regulation §1.409A-6(a)(3)(iv). In the alternative, the Participant may
select one of the alternative forms of distribution set forth below. Selection of an alternative
shall be made at the time the Participant first elects to participate in the Plan in accordance
with Section 1.2 of the Plan. Distribution elections as to a Grandfathered Benefit may be
subsequently changed provided that such new election is made at least 12 months prior to the date
that distributions under the Plan would commence.

 

 

The alternative forms of distribution are:

     (a) lump sum payable within 60 days of retirement or termination of employment; or

     (b) substantially equal annual installments for not less than two and not greater than ten
years. Distribution shall commence on the first anniversary of the date on which the Participant’s
employment with the Company and any other related employers of the Company (as determined under
Code §414) terminates. Subsequent installments, if any, will be made on each anniversary date
following the date of the first installment. The final installment will be the balance of the
Grandfathered Portion of the Participant’s Voluntary Deferral Account.

     Section 1.3 Distribution Upon Death, Disability or Change in Control. Within
30 days following the date on which a Participant’s employment with the Company and all other
related employers of the Company (as determined under Code §414) terminates as a result of death,
disability (as defined in Section 1.2 of this Addendum I), or change in control (as defined
in Section 1.2 of this Addendum I), the Company will distribute in a single lump sum the
amount constituting the Grandfathered Portion of the Participant’s Voluntary Deferral Account in
accordance with this Plan, to the Participant, or in the event of death, to the Participant’s
primary beneficiary. If the primary beneficiary is no longer alive, then such amounts shall be
distributed to the Participant’s secondary beneficiary. If a Participant has not designated a
beneficiary, or if no designated beneficiary is living on the date of distribution, then such
amounts shall be

 

 

distributed to such Participant’s spouse, or if deceased, or none, then to the Participant’s
children, per stirpes, or if none, then to the Participant’s estate in a lump sum distribution as
soon as administratively feasible following such Participant’s death.

     Section 1.4 Distribution Upon Death if Payments have Commenced. If a
Participant should die before distribution of the full amount of the Grandfathered Portion of the
Voluntary Deferral Account has been made to the Participant, any remaining amounts shall be
distributed to the Participant’s primary beneficiary by the same method as distributions were being
made to the Participant. If the primary beneficiary is no longer alive, then such amounts shall be
distributed to the Participant’s secondary beneficiary by the same method as distributions were
being made to the Participant. If a Participant has not designated a beneficiary, or if no
designated beneficiary is living on the date of distribution, then, such amounts shall be
distributed to such Participant’s spouse, or if deceased, or none, then to the Participant’s
children per stirpes, or if none, then to the Participant’s estate, in a lump sum distribution as
soon as administratively feasible following such Participant’s death.

     Section 1.5 Small Amount Distribution. If, at any time following termination
of employment, the value of a Participant’s Voluntary Deferral Account is less than $10,000, the
Company may elect to distribute such account balance in a lump sum payment regardless of the
Participant’s election.

     Section 1.6 Distributions Not Deductible Under Code § 162(m). Notwithstanding
the above provisions, no amount may be distributed from the Plan if the Company reasonably

 

 

anticipates that such amount would not be deductible under Code §162(m), as determined by the Board
of Directors in its sole discretion.

     Section 1.7 Distributions Subject to Tax. Notwithstanding the above
provisions, if, at any time, a court or the Internal Revenue Service determines that an amount in
the Grandfathered portion of a Participant’s Voluntary Deferral Account is includable in the gross
income of the Participant and subject to tax, the Board of Directors of the Company may, in its
sole discretion, permit a lump sum distribution of an amount equal to the amount determined to be
includable in the Participant’s gross income.

     Section 1.8 Distributions in Violation of Securities Laws. Notwithstanding
the above provisions, a payment under the Plan may be delayed if the Company reasonably anticipates
that the making of such payment will violate Federal securities laws or other applicable law, in
the Company’s sole discretion, provided that the payment is made on the earliest at which the
Company reasonably anticipates that the making of the payment will not cause such violation.

 

 

EXHIBIT A

TO

VOLUNTARY DEFERRED COMPENSATION PLAN

Deferred amounts may be tracked with investments in either (or a combination of):

1. Common shares of the Company; or

2. Funds of Fidelity Management and Research Company or any of its affiliates, which are available
as designated investments under the Company’s 401 (k) plan.exv10w35

Exhibit 10.35

AMENDMENT NO. 3 TO STOCKHOLDERS AGREEMENT

OF

SS&C TECHNOLOGIES HOLDINGS, INC.

This Amendment No. 3 (“Amendment”), dated March
10, 2011, to the Stockholders
Agreement dated as of November 23, 2005, as amended by Amendment No. 1 to the Stockholders
Agreement dated April 22, 2008 and Amendment No. 2 to the Stockholders Agreement dated March 2,
2010 (collectively, the “Agreement”) is entered into by and among SS&C Technologies
Holdings, Inc., a Delaware corporation (formerly known as Sunshine Acquisition Corporation) (the
“Company”), Carlyle Partners IV, L.P., a Delaware limited
partnership (“CP IV”), CP
IV Coinvestment, L.P., a Delaware limited partnership (“Coinvestment”, and, together with
CP IV, the “Initial Carlyle Stockholders”), and William C. Stone, an individual
(“Executive”). Certain capitalized terms used herein without definition have the meanings
ascribed to them in the Agreement (as amended hereby).

RECITALS:

WHEREAS, the Company, the Initial Carlyle Stockholders and Executive desire to amend the
Agreement in accordance with the terms of this Amendment.

AGREEMENT:

NOW, THEREFORE, in consideration of the foregoing and the mutual agreements set forth herein,
and other good and valuable consideration, the receipt and adequacy of which is hereby
acknowledged, the Parties hereto, intending to be legally bound, hereby agree as follows:

Section 1. Amendments.

(a) Effective as of the date hereof, Section 7(a) of the Agreement is hereby amended and
restated in its entirety to read as follows:

“(a) Nomination. The Company and the Stockholders shall take such action as may be required
under applicable law to cause the Board to consist of eight (8) Directors. The Stockholders and the
Company agree that (i) the Carlyle Stockholders shall collectively be entitled to nominate for
election to the Board four (4) Directors (the “Carlyle Designees”); (ii) the Chief
Executive Stockholders shall collectively be entitled to nominate for election to the Board two (2)
Directors (the “Executive Designees”), one of whom shall be Executive for so long as
Executive is the Chief Executive Officer of the Company; and (iii) the Carlyle Stockholders and the
Chief Executive Stockholders shall collectively be entitled to nominate for election to the Board
two (2) Directors (the “Stockholders Designees”); provided, however, that (A) the number of
Carlyle Designees shall be reduced to (x) three (3) Directors at such time as the Carlyle
Stockholders hold less than 40% of the then-outstanding shares of Common Stock, (y) two (2)
Directors at such time as the Carlyle Stockholders hold less than 30% of the then-outstanding
shares of Common Stock and (z) one (1) Director at such time as the Carlyle
Stockholders hold less than 15% of the then-outstanding shares of Common Stock and (B) the
number of Executive Designees shall be reduced to one (1) at such time as Executive holds less than
15% of the then-outstanding shares of Common Stock. So long as the Carlyle Stockholders shall be
entitled to nominate directors for election to the Board pursuant to this Section 7(a), CP IV shall
be entitled to designate at least one of the Carlyle Designees. At the option of the Carlyle
Stockholders, the Carlyle Stockholders may, by written notice to the Company, designate the Carlyle
Stockholder(s) that have the right to nominate the individual Carlyle Designees. For so long as
Executive serves as a member of the Board, Executive shall be a member of any Executive Committee
of the Board.”

 

 

 

Section 2. Miscellaneous.

(a) Effect of Amendment. Except as expressly set forth herein, this Amendment shall
not by implication or otherwise limit, impair, constitute a waiver of, or otherwise affect the
rights and remedies of the Parties under the Agreement or any agreement or instrument referred to
therein, and shall not alter, modify, amend or in any way affect any of the terms, conditions,
obligations, covenants or agreements contained in the Agreement or any agreement or instrument
referred to therein, all of which are ratified and affirmed in all respects and shall continue in
full force and effect. This Amendment shall apply and be effective only with respect to the
provisions of the Agreement specifically referred to herein. On and after the date hereof, any
reference to the Agreement in any agreement or instrument referred to therein shall mean the
Agreement as modified hereby.

(b) Governing Law. This Amendment shall be governed by, and construed in accordance
with, the laws of the State of Delaware (without giving effect to the choice of law principles
therein).

(c) Interpretation. The headings of the Sections contained in this Amendment are
solely for the purpose of reference, are not part of the agreement of the Parties and shall not
affect the meaning or interpretation of this Amendment.

(d) Counterparts. This Amendment may be executed in two or more counterparts, each of
which shall be deemed to be an original and all of which together shall be deemed to constitute one
and the same agreement.

(e) Severability. In the event that any one or more of the provisions contained
herein, or the application thereof in any circumstances, is held invalid, illegal or unenforceable
in any respect for any reason, the validity, legality and enforceability of any such provision in
every other respect and of the remaining provisions contained herein shall not be in any way
impaired thereby.

[Remainder of Page Intentionally Left Blank.]

 

 

 

IN WITNESS WHEREOF, the Parties have executed this Amendment on the date first written above.

	 	 	 	 	 	 	 
	 	 	SS&C TECHNOLOGIES HOLDINGS, INC.
	 
	 	 	 	 	 	 
	 	 	By:	 	/s/ Patrick J. Pedonti
	 	 	 	 	 
	 	 	 	 	Name: Patrick J. Pedonti

Title: Senior Vice President and Chief Financial Officer
	 
	 	 	 	 	 	 
	 	 	CARLYLE PARTNERS IV, L.P.,
	 	 	 	 	a Delaware limited partnership
	 
	 	 	 	 	 	 
	 	 	 	 	By: TC Group IV, L.P.,

its General Partner
	 
	 	 	 	 	 	 
	 	 	 	 	By: TC Group IV Managing GP, L.L.C.,

its General Partner
	 
	 	 	 	 	 	 
	 	 	 	 	By: TC Group, L.L.C.,

its Managing Member
	 
	 	 	 	 	 	 
	 	 	 	 	By: TCG Holdings, L.L.C.,

its Managing Member
	 
	 	 	 	 	 	 
	 

	 	 	 	By:
	 	/s/ Claudius E. Watts, IV
	 

	 	 	 	 	 	 
	 

	 	 	 	 	 	Name: Claudius E. Watts, IV
	 

	 	 	 	 	 	Title: Managing Director
	 
	 	 	 	 	 	 
	 	 	CP IV COINVESTMENT, L.P.,
	 	 	 	 	a Delaware limited partnership
	 
	 	 	 	 	 	 
	 	 	 	 	By: TC Group IV, L.P.,

its General Partner
	 
	 	 	 	 	 	 
	 	 	 	 	By: TC Group IV Managing GP, L.L.C.,

its General Partner
	 
	 	 	 	 	 	 
	 	 	 	 	By: TC Group, L.L.C.,

its Managing Member
	 
	 	 	 	 	 	 
	 	 	 	 	By: TCG Holdings, L.L.C.,

its Managing Member
	 
	 	 	 	 	 	 
	 

	 	 	 	By:
	 	Claudius E. Watts, IV
	 

	 	 	 	 	 	 
	 

	 	 	 	 	 	Name: Claudius E. Watts, IV
	 

	 	 	 	 	 	Title: Managing Director
	 
	 	 	 	 	 	 
	 	 	By:	 	/s/ William C. Stone
	 	 	 	 	 
	 	 	 	 	William C. Stone

[Signature Page to Amendment No. 3 to Stockholders Agreement]

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