Document:

amendmentnicorincseniorret.htm

    Nicor Inc.

    Form 8-K

    Exhibit 10.6

     

    

      Amendment
To

      Nicor Inc. Supplemental
Senior Officer Retirement Plan

       

      (As in
Effect on October 3, 2004, for Pre-2005 Benefits)

       

      WHEREAS,
Nicor Inc. (the “Company”), previously established and maintains the Nicor Inc.
Supplemental Senior Officer Retirement Plan as in effect of October 3, 2004 for
pre-2005 benefits (the “Plan”); and

       

      WHEREAS,
the provisions of the Plan in effect on October 3, 2004 apply to those amounts
that were earned and vested under the Plan within the meaning of Treas. Reg.
§§1.409A-6(a) as of December 31, 2004, as well as the interest earned thereon
(“Grandfathered Benefits”); and

       

      WHEREAS,
the terms applicable to the Grandfathered Benefits have not been materially
modified within the meaning of Treas. Reg. §§1.409A-6(a)(1) and (4) on or after
October 3, 2004; and

       

      WHEREAS,
the Company now desires to revise the administrative provisions of the Plan as
in effect on October 3, 2004, and that such amendment not be a material
modification of the Plan terms applicable to Grandfathered Benefits, within the
meaning of Treas. Reg. §§1.409A-6(a)(1) and (4);

       

      NOW,
THEREFORE, pursuant to the power reserved to the Company by subsection 8.1 of
the Plan, the Plan be and hereby is amended in the following particulars,
effective as of January 1, 2008:

       

      
        	
                      1.  

              	
                By
      substituting the following for subsection 1.2 of the
  Plan:

              

      

       

      “1.2         Committee

       

      (a)           Membership.  The
authority to manage and control the operation and administration of the Plan
shall be vested in the Compensation Committee of the Company’s Board of
Directors (the “Committee”).  Except as otherwise specifically
provided in this subsection 1.2, in controlling and managing the operation and
administration of the Plan, the Committee shall act by the concurrence of a
majority of its then members by meeting or by writing without a
meeting.  The Committee, by unanimous written consent, may authorize
any one of its members to execute any document, instrument or direction on its
behalf.  

       

      (b)           Powers of
Committee.  Subject
to the conditions and limitations of the Plan, the Committee shall have the sole
and complete authority and discretion to:

       

      
        	
                                     
      (i)  

              	
                Conclusively
      interpret and construe the provisions of the Plan and to remedy
      ambiguities, inconsistencies and omissions of whatever kind or
      nature;

              

      

       

      
        
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      (ii)  

              	
                Adopt,
      and apply in a uniform and nondiscriminatory manner to all persons
      similarly situated, such rules of procedure and regulations as, in its
      opinion, may be necessary for the proper and efficient administration of
      the Plan, and as are consistent with the provisions of the
      Plan;

              

      

       

      
        	
                                        (iii)  

              	
                Conclusively
      determine all questions arising under the Plan, including the power to
      determine rights or eligibility of employees or former employees, and the
      respective benefits of Participants and others entitled
      thereto;

              

      

       

      
        	
                                       
      (iv)  

              	
                Maintain
      and keep adequate records concerning the Plan and concerning its
      proceedings and acts in such form and detail as the Committee may
      decide;

              

      

       

      
        	
                                      
      (v)  

              	
                Direct
      all benefit payments under the
Plan;

              

      

       

      
        	
                                       
      (vi)  

              	
                Furnish
      the Company and its subsidiaries with such information with respect to the
      Plan as may be required by them for tax or other
  purposes;

              

      

       

      
        	
                                         
      (vii)  

              	
                By
      unanimous action of the members then acting, employ agents and counsel
      (who also may be employed by the Company and its subsidiaries or a
      trustee) and to delegate to them, in writing, such powers as the Committee
      considers desirable;

              

      

       

      
        	
                                          
      (viii)  

              	
                Correct
      any defect or omission and to reconcile any inconsistency in the Plan, and
      to remedy any error in any payment made hereunder;
  and

              

      

       

      
        	
                                       
      (ix)  

              	
                make
      all other determinations and take all other actions necessary or advisable
      for the implementation and administration of the
  Plan.

              

      

       

      Except as
otherwise specifically provided by the Plan, any determinations to be made by
the Committee under the Plan shall be decided by the Committee in its sole
discretion.  Any interpretation of the Plan by the Committee and any
decision made by it under the Plan is conclusive, final and binding on all
persons.

       

      (c)           Delegation by
Committee.  The
Committee may allocate all or any part of its responsibilities and powers to any
one or more of its members and may delegate all or any part of its
responsibilities and powers to any person or persons selected by
it.  Any such allocation or delegation may be revoked at any
time.

       

      (d)           Information to be Furnished
to Committee.  The
Company and participating subsidiaries shall furnish the Committee such data and
information as it may require.  The records of the Company and
participating subsidiaries as to an employee’s or Participant’s period of
employment, termination of employment and the reason therefor, leave of absence,
reemployment and compensation amounts shall be conclusive on all persons unless
determined to be incorrect.  Participants and other persons entitled
to benefits under the Plan must furnish the Committee such evidence, data or
information as the Committee considers desirable to carry out the
Plan.

       

      
        
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      (e)           Committee’s Decision
Final.  To
the extent permitted by law, any interpretation of the Plan and any decision on
any matter within the discretion of the Committee made by the Committee in good
faith is binding on all persons.  A misstatement or other mistake of
fact shall be corrected when it becomes known, and the Committee shall make such
adjustment on account thereof as it considers equitable and
practicable.  Notwithstanding any other provision of the Plan to the
contrary, benefits under the Plan will be paid only if the Committee, in its
discretion, determines that the applicant is entitled to them.

       

      (f)           Liability and
Indemnification of the Committee.  No
member of the Committee shall be liable to any person for any action taken or
omitted in connection with the administration of the Plan unless attributable to
his own fraud or willful misconduct; nor shall the Company or participating
subsidiaries be liable to any person for any such action unless attributable to
fraud or willful misconduct on the part of a director or employee of the Company
or participating subsidiaries.  The Committee and the individual
members thereof shall be indemnified by the Company or participating subsidiary
against any and all liabilities, losses, costs and expenses (including legal
fees and expenses) of whatsoever kind and nature which may be imposed on,
incurred by or asserted against the Committee or its members by reason of the
performance of a Committee function under the terms of this Plan unless such
liability, loss, cost or expense arises due to his own fraud or willful
misconduct.  This indemnification shall not duplicate but may
supplement any coverage available under any applicable insurance.  For
purposes of this subsection 1.2(f), the term “Committee” includes both the
Committee and members of the compensation committee of the Participant’s
employer.”

       

      
        	
                     2.  

              	
                By
      substituting the following for subsection 6.6 of the
  Plan:

              

      

       

      “6.6         Beneficiary.  Each
Participant from time to time, by signing a form furnished by the Committee, may
designate any legal or natural person or persons (who may be designated
contingently or successively) to whom his benefits under the Plan are to be paid
if he dies before he receives all of his benefits (“Beneficiary”).  A
beneficiary designation form will be effective only when the signed form is
filed with the Committee while the Participant is alive and will cancel all
beneficiary designation forms filed earlier.  If more than one
Beneficiary has been designated, the balance in the Participant’s Account shall
be distributed to each such Beneficiary per capita.  Except as
otherwise specifically provided in this subsection 6.6, if a deceased
Participant failed to designate a Beneficiary as provided above, or if no
designated Beneficiary survives the Participant or dies before complete payment
of the Participant’s benefits, then his benefits shall be paid to the legal
representative or representatives of the estate of the last to die of the
Participant and any designated Beneficiary.”

       

      
        	
                    
      3.  

              	
                By
      substituting the following for Section 8 of the
  Plan:

              

      

       

      “SECTION
8

      Amendment and
Termination

       

      While the
Committee expects and intends the Company to continue the Plan, the Committee
reserves the right, at any time and in any way, to amend, suspend or terminate
the Plan; provided, however, that subject to the provisions of the following
sentence, neither an amendment nor a termination shall adversely affect the
rights of any Participant or Beneficiary 

       

      
        
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      under the
Plan. The Committee, by Plan amendment or termination, may prospectively modify
or eliminate the right to have Contributions credited to the Account of any
Participant. Notwithstanding the foregoing provisions of this Section 8, the
Committee may amend or terminate the Plan at any time, to take effect
retroactively or otherwise, as deemed necessary or advisable for purposes of
conforming the Plan to any present or future law, regulations or rulings
relating to plans of this or a similar nature.”

       

      
        	
                   
      4.  

              	
                By
      substituting the following for Section 9 of the
  Plan:

              

      

       

      “SECTION
9

      Claims
Procedures

       

      Any claim
for benefits under the Plan shall be governed by and submitted pursuant to the
rules established under the Nicor Claims Procedures for Nonqualified Plans, as
such are in effect from time to time.  The decision of the Committee
shall be conclusive, final and binding in all respects on both the Company and
the claimant.  Benefits shall be paid only if the Committee determines
that the claimant is entitled to them.”

       

      IN
WITNESS WHEREOF, the Company has caused this Amendment to be signed on its
behalf by its duly authorized representative as of this    25   
day of     
July      , 2008.

       

      NICOR
INC.

       

      

       

      By: /s/ CLAUDIA J. COLALILLO

      Its:
Senior Vice President Human
Resources

            and Corporate
Communications               

       

      
        
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4 -fourthamendnicorinc97ltinc.htm

    Nicor Inc.

    Form 8-K

    Exhibit 10.7

     

    

    FOURTH
AMENDMENT TO

    NICOR
INC. 1997

    LONG-TERM
INCENTIVE PLAN

    

    

    This Fourth Amendment to the Nicor Inc.
1997 Long-Term Incentive Plan (the “Plan”) is effective as of January 1, 2008,
by amending the Plan in the following particulars:

    

    1.           By
substituting the following for Section 10(d):

    

    
      	
               
      

            	
              “(d)

            	
              Change in
      Control.  For purposes of the Plan, “Change in Control”
      means the occurrence of a “change in the ownership,” a “change in the
      effective control” or a “change in the ownership of a substantial portion
      of the assets” of an entity, as determined in accordance with this
      subsection 10(d).  In determining whether an event shall be
      considered a “change in the ownership,” a “change in the effective
      control” or a “change in the ownership of a substantial portion of the
      assets” of an entity, the following provisions shall
  apply:

            

    

     

    
      	
                                               
      (i)  

            	
              A
      “change in the ownership” of the Company shall occur on the date on which
      any one person, or more than one person acting as a group (within the
      meaning of Section 13(d)(3) or 14(d)(2) of the Securities Exchange Act of
      1934, as amended (a “Person”)), acquires ownership of the equity
      securities of the Company that, together with the equity securities held
      by such Person, constitutes more than 50% of the total fair market value
      or total voting power of the Company, as determined in accordance with
      Treas. Reg. §1.409A-3(i)(5)(v).  If a Person is considered
      either to own more than 50% of the total fair market value or total voting
      power of the equity securities of the Company, or to have effective
      control of the Company within the meaning of subsection 10(d)(ii), and
      such Person acquires additional equity securities of the Company, the
      acquisition of additional equity securities by such Person shall not be
      considered to cause a “change in the ownership” of the
      Company.

            

    

     

    
      	
                                                
      (ii)  

            	
              A
      “change in the effective control” of the Company shall occur on either of
      the following dates:

            

    

     

    
      	
                                                                      
      (A)  

            	
              The
      date on which any Person, acquires (or has acquired during the 12-month
      period ending on the date of the most recent acquisition by such Person)
      ownership of stock of the Company possessing 30% or more of the total
      voting power of the Company’s equity securities, as determined in
      accordance with Treas. Reg. §1.409A-3(i)(5)(vi).  If a Person is
      considered to possess 30% or more of the total voting power of the
      Company’s equity securities, and such

            

    

     

    
      
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                  Person
      acquires additional stock of the Company, the acquisition of additional
      stock by such Person shall not be considered to cause a “change in the
      effective control” of the Company;
or

                

        

         

      

    

    
      	
                                                                     
      (B)  

            	
              The
      date on which a majority of the members of the Board is replaced during
      any 12-month period by directors whose appointment or election is not
      endorsed by a majority of the members of the Board before the date of the
      appointment or election, as determined in accordance with Treas. Reg.
      §1.409A-3(i)(5)(vi).

            

    

     

    
      	
                                                 
      (iii)  

            	
              A
      “change in the ownership of a substantial portion of the assets” of the
      Company shall occur on the date on which any one Person acquires (or has
      acquired during the 12-month period ending on the date of the most recent
      acquisition by such Person) assets from the Company that have a total
      gross fair market value equal to or more than 40% of the total gross fair
      market value of all of the assets of the Company immediately before such
      acquisition or acquisitions, as determined in accordance with Treas. Reg.
      §1.409A-3(i)(5)(vii).  A transfer of assets shall not be treated
      as a “change in the ownership of a substantial portion of the assets” when
      such transfer is made to an entity that is controlled by the holders of
      the Company’s equity securities, as determined in accordance with Treas.
      Reg. §1.409A-3(i)(5)(vii)(B).

            

    

     

    
      	
                                                 
      (iv)  

            	
              Notwithstanding
      the foregoing, the following acquisitions shall not constitute a Change in
      Control: (A) an acquisition by the Company or entity controlled by the
      Company, or (B) an acquisition by an employee benefit plan (or related
      trust) sponsored or maintained by the Company or any entity controlled by
      the Company.

            

    

     

    
      	
                                                
      (v)  

            	
              For
      purposes of this subsection 10(d), (A) the term “Company” shall mean Nicor
      Inc. and shall include any Successor to Nicor Inc.; and (B) the term
      “Successor to Nicor Inc.” shall mean any corporation, partnership, joint
      venture or other entity that succeeds to the interests of Nicor Inc. by
      means of a merger, consolidation, or other restructuring that does not
      constitute a Change in Control.”

            

    

     

    

     

    2.           By
renumbering the existing Section 9 as Section 9.1; and by adding the following
as a new Section 9.2 of the Plan:

     

    “9.2       Code Section
409A.  To the extent that the Committee determines that any
Award granted under the Plan is subject to Section 409A of the Code, the Award

     

    
      
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    Agreement
evidencing such Award shall incorporate the terms and conditions required by
Section 409A of the Code.  To the extent applicable, the Plan and
Award Agreements shall be interpreted in accordance with Section 409A of the
Code and Department of Treasury regulations and other interpretive guidance
issued thereunder.  Notwithstanding any provision of the Plan to the
contrary, in the event that the Committee determines that any Award may be
subject to Section 409A of the Code and related Department of Treasury guidance,
the Committee may adopt such amendments to the Plan and the applicable Award
Agreement or adopt other policies and procedures (including amendments, policies
and procedures with retroactive effect), or take any other actions, that the
Committee determines are necessary or appropriate to (a) exempt the Award from
Section 409A of the Code and/or preserve the intended tax treatment of the
benefits provided with respect to the Award, or (b) comply with the requirements
of Section 409A of the Code and related Department of Treasury guidance and
thereby avoid the application of any penalty taxes under such
Section.”

     

    

    
 

                                             
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