Document:

exv10w34

 

Exhibit 10.34

THIS SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN, amended, restated and executed at Montreal, Quebec, by
Lafarge Canada Inc.

     WITNESSETH THAT:

     WHEREAS, Lafarge Canada Inc. (“Lafarge”) maintains for the benefit of certain employees an
unfunded retirement plan known as the Lafarge Canada Inc. Supplemental Executive Retirement Plan to
provide certain benefits to those employees in addition to those payable under the Lafarge Canada
Inc. Salaried Employees’ Pension Plan (the “Retirement Plan”);

     NOW, THEREFORE, the Lafarge Canada Inc. Supplemental Executive Retirement Plan is hereby
amended and restated, effective 31 October 2001, as follows:

	 	 	 
	Section 1.
	 	Defined Terms. As used herein, the term “Plan” means this
Lafarge Canada Inc. Supplemental Executive Retirement Plan,
effective as of 7 May 1997, and as from time to time in effect
thereafter. Unless the context clearly indicated otherwise,
the other words and phrases used in this Plan shall have the
meanings assigned to them under the provisions of the
Retirement Plan.

	 
	 	 

	Section 2.
	 	Nature of the Plan. This plan is intended to be an unfunded
plan (except as otherwise provided under the Plan) maintained
primarily for the purpose of providing pension benefits for a
select group of management or highly compensated employees of
Lafarge.

	 
	 	 

	Section 3.
	 	Administration. This Plan shall be administered by the Board
of Directors of Lafarge (the “Board”). The Board shall
interpret the provisions of this Plan and perform and exercise
all of the duties and powers granted to it under the terms of
this Plan by action of a majority of its members in office from
time to time. The Board may adopt such rules and regulations
for the administration of this Plan as are consistent with the
terms hereof and shall keep adequate records of its proceedings
and acts. All interpretations and decisions made and other
action taken by the Board shall be conclusive and binding upon
all parties having or claiming to have an interest under this
Plan.

	 
	 	 

	Section 4.
	 	Eligibility. Each Employee who is an Executive for the
purposes of Part V of the Retirement Plan shall be a Plan
Member for purposes of this Plan.

	 
	 	 

	Section 5.
	 	Benefits. If a Plan Member, a Spouse or a designated
beneficiary or, estate in lieu of, commences to receive a
monthly retirement income, or would have been eligible to
commence receiving a monthly retirement income where benefits
under the Retirement Plan have been commuted, then Lafarge shall

 

 

			
	SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN	 	Page 2

	 	 	 
	 	 	pay to such Plan Member, Spouse, designated beneficiary or estate a monthly retirement income equal
to the amount by which:

	 	i)	 	the monthly retirement income that would have been payable to
such Plan Member, Spouse, designated beneficiary or estate under the Retirement
Plan had such income been computed without regard to the maximum benefits
limitation imposed by the Retirement Plan, exceeds
	 
	 	ii)	 	the monthly retirement income payable under the Retirement Plan
or where benefits under the Retirement Plan have been commuted, the monthly
retirement income that is the Actuarial Equivalent to the benefit commuted.

	 	 	 
	 
	 	For greater clarity, the sum of the monthly amounts payable or which would have been
payable as aforesaid to such Plan Member, Spouse, designated beneficiary or estate
under this Plan and the Retirement Plan will equal the monthly amount such Plan
Member, Spouse, designated beneficiary or estate would have been entitled to receive
under the provisions of the Retirement Plan if such amount was computed without
regard to the maximum benefits limitation of the Retirement Plan. If a Plan Member,
a Spouse, a designated beneficiary or an estate commences to receive a monthly
retirement income under the Retirement Plan, the benefits payable under this Plan
shall be paid coincident with the benefits paid to such Plan Member, Spouse,
designated beneficiary or estate under the Retirement Plan. Where benefits under
the Retirement Plan have been commuted, the benefits under this Plan payable to a
Plan Member, a Spouse, a designated beneficiary or estate shall commence to be paid
on the first of any month as elected by the Plan Member, Spouse, designated
beneficiary or estate as applicable, provided that such date is not earlier or later
than the earliest or latest retirement date under the Retirement Plan. The benefits
to a Plan Member, Spouse, designated beneficiary or estate cannot be commuted and
transferred from the Plan, except as otherwise provided in Section 8.

	 
	 	 

	Section 6.
	 	Expatriates. Any period, following a period of employment in
Canada, during which the Plan Member received no Earnings from
Lafarge or a Participating Company and throughout which the
Plan Member was employed by a foreign associate or affiliate of
Lafarge or of a Participating Company, shall be considered as
Credited Service for the purpose of the computation of the
benefit under Section 5.(i).

	 
	 	 

	Section 7.
	 	Vesting. Benefits under the Plan shall vest in the Plan
Member, the Spouse, the designated beneficiary or estate under
the same conditions as under the Retirement Plan.

 

 

			
	SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN	 	Page 3

	 	 	 
	Section 8.
	 	Commuting. Lafarge reserves the right to commute benefits due
under the Plan and pay such commuted value in a lump sum amount
to the Plan Member,
Spouse, designated beneficiary or estate, as applicable, provided that such commuted
value qualifies as a small amount under the rules and regulations governing the
administration of the Plan. Commuted values shall be calculated in accordance with
such rules and regulations.

	 
	 	 

	Section 9.
	 	Source of Benefits. The benefits payable under this Plan
shall be paid by Lafarge solely out of its general assets. No
provision of this Plan shall be deemed or construed to create
a trust fund of any kind or to grant to any Plan Member or his
or her Spouse or other beneficiary any property right or
beneficial ownership interest of any kind in the assets of
Lafarge. To the extent that any Plan Member or his or her
Spouse or other beneficiary acquires a right to receive
payments from Lafarge under this Plan, such right shall be no
greater than the right of any unsecured general creditor of
Lafarge.

	 
	 	 

	Section 10.
	 	Spendthrift Provision. No right or interest of a Plan Member
or his or her Spouse or other beneficiary under this Plan may
be assigned, transferred or alienated, in whole or in part,
either directly or by operation of law, and no such right or
interest shall be liable for or subject to any debt,
obligations or liability of such Plan Member, Spouse or
beneficiary.

	 
	 	 

	Section 11.
	 	Employment Non-contractual. The establishment of this Plan
shall not enlarge or otherwise affect the terms of any Plan
Member’s employment with Lafarge, and Lafarge may terminate
the employment of such Plan Member as freely and with the same
effect as if this Plan had not been established.

	 
	 	 

	Section 12.
	 	RCA Trust. Upon a Change of Control, as defined under Section
14, Lafarge shall, as soon as possible, but in no event later
than twenty (20) days following the Change of Control,
establish a Trust (“RCA Trust”) which will qualify as
Retirement Compensation Arrangement under the Income Tax Act
(Canada), and make an irrevocable contribution to the RCA
Trust in an amount that is sufficient to pay each Plan Member
who has completed at least five (5) years of membership in the
Retirement Plan, or Spouse or beneficiary of such Plan Member,
the benefits to which they would be entitled pursuant to the
terms of the Plan as of the date on which the Change of
Control occurred. The RCA Trust shall be established
concurrently with the making of such contribution and shall
have terms and conditions substantially similar to the draft
Retirement Compensation Arrangement Trust Agreement appended
to the Plan.

	 
	 	 

	 	 	Any payment out of the RCA Trust shall discharge, to the extent of such payment, the
obligations of Lafarge under this Plan.

 

 

			
	SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN	 	Page 4

	 	 	 
	Section 13.
	 	Amount of Contribution. The amount of the contribution to the RCA Trust shall
be determined by Lafarge using assumptions and methods consistent with the windup of the
Retirement Plan on the date of Change of Control and which take into account the tax treatment
of the RCA Trust. Such amount shall be determined for the Plan Members as a group, unless the
Board decides otherwise. Benefits payable under the Plan to a Plan Member not eligible to receive
an immediate pension shall be valued by taking into account his Credited Service and
Final Average Earnings under the Retirement Plan up to the date of Change of Control
and on the assumption that such Plan Member would have chosen to receive his pension
on the date that produces the greatest retirement value.

	 
	 	 

	Section 14.
	 	Change of Control. Unless the context clearly indicates otherwise, for
purposes of this Plan:

	 	(a)	 	“Board of Company” means the Board of Directors of Company.
	 
	 	(b)	 	“Change of Control” means either (i) a Change of Control of
Company or (ii) a Change of Control of Lafarge, S.A.
	 
	 	(c)	 	“Change of Control of Company” means any one of the following:

	 	(1)	 	Continuing Directors no longer constitute at least
two-thirds of the Directors constituting the Board of Company;
	 
	 	(2)	 	Except for Lafarge, S.A. and its subsidiaries, any
person or group of persons (as defined in Rule 13d-5 under the Securities
Exchange Act of 1934), together with its or their respective affiliates (as
defined in Rule 405 under the Securities Act of 1933), becomes the
beneficial owner, directly or indirectly, of 20% or more of
Company’s then outstanding common stock or 20% or more of voting power of
Company’s then outstanding securities entitled generally to vote for the
election of directors in a transaction opposed by at least a majority of
the Continuing Directors in office immediately prior to consummation of
such acquisition;
	 
	 	(3)	 	The occurrence or the approval by Company’s
stockholders of the merger or consolidation with any other corporation, the
sale of all or substantially all of the assets of Company or the
liquidation or dissolution of Company unless, in the case of a merger or
consolidation, the Continuing Directors in office immediately prior to such
merger or consolidation will constitute at least two-thirds of the
directors constituting the board of directors of the surviving corporation
of such merger or consolidation and any parent (as

 

 

			
	SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN	 	Page 5

	 	 	 	defined in Rule 12b-2 under the Securities Exchange Act of 1934 of the United States of America)
of such corporation;
	 
	 	(4)	 	At least a majority of the Continuing Directors in
office immediately prior to the occurrence of any of the events described
in paragraphs (1), (2) or (3) of this Section 14(c), determines that any
such event, if it occurs, would constitute, a Change of Control of Company;
or
	 
	 	(5)	 	At least a majority of the Continuing Directors in
office immediately prior to any other action taken or proposed to be taken
by Company’s stockholders or by the Board of Company, determines that such
action constitutes, or that such proposed action, if taken, would
constitute a Change of Control of Company.

	 	(d)	 	“Change of Control of Lafarge, S.A.” means either of the
following:

	 	(1)	 	At least a majority of the Continuing Directors in
office immediately prior to the occurrence of any event involving Lafarge,
S.A. of the nature described in paragraphs (1), (2) or (3) of Section 14(c)
hereof, determines that such event, if it occurs, would constitute a Change
of Control of Lafarge, S.A.;
	 
	 	(2)	 	At least a majority of the Continuing Directors in
office immediately prior to any other action taken or proposed to be taken
by Lafarge, S.A. stockholders of by its board of directors, determines that
such action constitutes, or that such proposed action, if taken, would
constitute a Change of Control of Lafarge, S.A.

	 	(e)	 	“Company” means Lafarge North America Inc.
	 
	 	(f)	 	“Continuing Directors” means those persons who are either (i)
Directors on the date hereof, (ii) Directors designated as Continuing Directors
by a majority of the Continuing Directors, (iii) Directors elected by a
majority of the Continuing Directors at a meeting of the Board, (iv) Directors
nominated by a majority of the Continuing Directors who are thereafter elected
by the stockholders of Company at a meeting thereof, or (v) Directors elected
by consent of the stockholders of Company if, thereafter, a majority of the
Continuing Directors designate such Director as a Continuing Director;
provided, however, that a Continuing Director associated or affiliated with, or
acting as an agent or nominee, of any person or group of persons (as defined in
Rule 13d-5 under the Securities Exchange Act of 1934), or their respective
affiliates (as defined in Rule 405 under the Securities Act of 1933),
initiating or attempting to initiate a transaction designed to result in a
Change of Control of Company or a Change of Control of Lafarge, shall not be
deemed a Continuing Director.

 

 

			
	SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN	 	Page 6

	 	(g)	 	“Directors” means the members of the Board of Company.

	 	 	 
	Section 15.
	 	Amendment and Termination. The Board shall have the right and power at any
time and from time to time to amend this Plan, in whole or in part, and at any time to
terminate this Plan; provided, however, that no such amendment or termination shall reduce or
eliminate Lafarge’s obligation for the payment of benefits accrued under this Plan as of the
date of such amendment or
termination, such benefits to be determined as if the Retirement Plan had terminated
on that date.

LAFARGE CANADA INC.

Per: /s/ Alain Fredetteexv10w35

 

Exhibit 10.35

LAFARGE NORTH AMERICA INC.

SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN

(As Amended and Restated as of January 1, 2002)

 

 

LAFARGE NORTH AMERICA INC.

SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN

(Amended and Restated as of January 1, 2002)

     THIS SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN, made and executed at Herndon, Virginia, by
LAFARGE NORTH AMERICA INC., a Maryland corporation (“Lafarge”),

WITNESSETH THAT:

     WHEREAS, Lafarge has heretofore maintained for the benefit of certain employees an unfunded
retirement plan known as the Lafarge Corporation Supplemental Executive Retirement Plan to provide
certain benefits to those employees in addition to those payable under the Lafarge North America
Inc. Retirement Plan (Amended and Restated as of January 1, 1989) (the “1989 Restatement”); and

     WHEREAS, Lafarge amended and restated the Lafarge North America Inc. Retirement Plan,
effective January 1, 2002, as the Lafarge North America Inc. Retirement Plan (Amended and Restated
Effective as of January 1, 2002) (the “2002 Restatement”) to modify the pension formula, update the
plan for tax compliance and make certain other changes; and

     WHEREAS, because benefits under this Plan are determined by reference to the pension formula
under the 1989 Restatement, Lafarge wishes to amend and restate this Plan to take into account the
differing pension formulas under the 1989 Restatement and the 2002 Restatement and to make certain
other changes;

     NOW, THEREFORE, pursuant to the provisions of Section 10 thereof, the Lafarge Corporation
Supplemental Executive Retirement Plan is hereby amended and restated in its entirety to read as
follows:

 

 

     Section 1. Defined Terms. As used herein, the term “Plan” means this Lafarge North
America Inc. Supplemental Executive Retirement Plan, originally effective as of July 30, 1986, and
as from time to time in effect thereafter, and the term “Employers” shall include Lafarge North
America Inc. and any other incorporated or unincorporated trade or business which may adopt the
1989 Restatement and/or the 2002 Restatement, and this Plan. Unless the context clearly indicates
otherwise, the other words and phrases used in this Plan shall have the meanings assigned to them
under the provisions of the 1989 Restatement or the 2002 Restatement, as the context requires.

     Section 2. Nature of Plan. This Plan is intended to be an unfunded plan maintained
primarily for the purpose of providing deferred compensation for a select group of management or
highly compensated employees within the meaning of Section 201(2) of the Employee Retirement Income
Security Act of 1974, as amended, which does not qualify under the provisions of Section 401 of the
Code.

     Section 3. Administration. This Plan shall be administered by the Management
Development and Compensation Committee of the Board of Directors of Lafarge (the “Committee”). The
Committee shall interpret the provisions of this Plan and perform and exercise all of the duties
and powers granted to it under the terms of this Plan by action of a majority of its members in
office from time to time. The Committee may adopt such rules and regulations for the
administration of this Plan as are consistent with the terms hereof and shall keep adequate records
of its proceedings and acts. All interpretations and decisions made and other action taken by the
Committee shall be conclusive and binding upon all parties having or claiming to have an interest
under this Plan.

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     Section 4. Eligibility and Vesting. Each Employee who is a Participant under the
1989 Restatement or the 2002 Restatement and considered by the Committee to be a key Employee shall
be eligible to be designated by the Committee as a Plan Participant for the purposes of this Plan.
No benefit shall be payable under this Plan to or with respect to any Employee unless he or she has
been specifically designated by the Committee as a Plan Participant for the purposes of this Plan.
Notwithstanding any provision of this Plan to the contrary, an Employee who first becomes a
Participant in this Plan on or after January 1, 2002, shall be entitled to a benefit hereunder only
if such Participant completes both five years of Credited Service and five years of participation
in this Plan.

     Section 5. Benefits.

     (a) If a Plan Participant commences receiving a Normal Retirement Pension, Early Retirement
Pension, Special Early Retirement Pension or Deferred Vested Pension under the 2002 Restatement in
connection with his or her retirement or vested termination from the employ of an Employer
(including retirement or vested termination following deemed employment for 2002 Restatement
purposes by reason of qualifying for a Permanent Disability Benefit), or in the event a Plan
Participant’s spouse or other Beneficiary commences receiving a monthly retirement income under
Section 6.1(a), Option 2 or Option 3 of Section 6.2(c), or Section 7.1 of the 2002 Restatement by
reason of such Plan Participant’s death, then concurrently with the payment of said monthly
retirement income under the 2002 Restatement the Employers shall pay to such Plan Participant,
spouse or Beneficiary a monthly income equal to the amount by which:

     (i) the monthly retirement income that would have been payable to such Plan
Participant, spouse or Beneficiary under the 2002 Restatement had such income been computed
(1) without regard to the maximum benefits limitation imposed by Section 10.3

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of the 2002 Restatement, (2) without regard to the limitation on the amount of
compensation that may be taken into account for the purposes of the 2002 Restatement as
imposed by Section 401(a)(17) of the Code, (3) with the percentage specified in Section
5.1(a) of the 2002 Restatement being 1.75% rather than 1.33%, and (4) by including in the
Participant’s Earnings amounts voluntarily deferred by the Participant pursuant to a Lafarge
nonqualified deferred compensation plan or a written agreement between the Participant and
Lafarge, exceeds

     (ii) the monthly retirement income payable to such Participant, spouse or Beneficiary
under the 2002 Restatement,

so that the sum of the monthly amounts payable to such Plan Participant, spouse or Beneficiary
under this Plan and the 2002 Restatement will equal the monthly amount such Plan Participant,
spouse or Beneficiary would have been entitled to receive under the provisions of the 2002
Restatement if such amount was computed without regard to the maximum benefits limitation imposed
by Section 10.3 of the 2002 Restatement, without regard to the limitation on the amount of
compensation that may be taken into account for the purposes of the 2002 Restatement as imposed by
Section 401(a)(17) of the Code, as if the percentage specified in Section 5.1 of the 2002
Restatement was 1.75%, and as if nonqualified deferred compensation was allowed to be recognized as
Earnings. The benefits payable under this Plan to such a Plan Participant or his or her spouse or
other Beneficiary shall be paid at the same time and in the same manner as the benefits paid to
such Plan Participant, spouse or Beneficiary under the 2002 Restatement.

     (b) If a Plan Participant commences receiving a monthly retirement income under Section 5.01,
5.02, 5.03, 8.03 or 13.18 of the 1989 Restatement, in connection with his or her retirement or
vested termination from the employ of an Employer (including retirement or vested

-4-

 

termination following deemed employment for 1989 Restatement purposes by reason of being
disabled within the meaning of Article 9 of the 1989 Restatement), or in the event a Plan
Participant’s spouse or other Beneficiary commences receiving a monthly retirement income under
Section 7.01, 7.02, 7.03, 7.04 or 8.04 of the 1989 Restatement by reason of such Plan Participant’s
death, then concurrently with the payment of said monthly retirement income under the 1989
Restatement the Employers shall pay to such Plan Participant, spouse or Beneficiary a monthly
income equal to the amount by which:

     (i) the monthly retirement income that would have been payable to such Plan
Participant, spouse or Beneficiary under the 1989 Restatement had such income been computed
(1) without regard to the maximum benefits limitation imposed by Section 5.07 of the 1989
Restatement, (2) without regard to the limitation on the amount of compensation that may be
taken into account for the purposes of the 1989 Restatement as imposed by Section 401(a)(17)
of the Code, and (3) with the percentage specified in Section 5.01(a)(i) of the 1989
Restatement being one and three-fourths percent (1-3/4%) rather than one and one-half
percent (1-1/2%), exceeds

     (ii) the monthly retirement income payable to such Plan Participant, spouse or
Beneficiary under the 1989 Restatement,

so that the sum of the monthly amounts payable to such Plan Participant, spouse or Beneficiary
under this Plan and the 1989 Restatement will equal the monthly amount such Plan Participant,
spouse or Beneficiary would have been entitled to receive under the provisions of the 1989
Restatement if such amount was computed without regard to the maximum benefits limitation imposed
by Section 5.07 of the 1989 Restatement, without regard to the limitation on the amount of
compensation that may be taken into account for the purposes of the 1989 Restatement as

-5-

 

imposed by Section 401(a)(17) of the Code, and as if the percentage specified in Section 5.01(a)(i)
of the 1989 Restatement was one and three-fourths percent (1-3/4%). The benefits payable under
this Plan to such a Plan Participant or his or her spouse or other Beneficiary shall be paid at the
same time and in the same manner as the benefits paid to such Plan Participant, spouse or
Beneficiary under the 1989 Restatement.

     (c) Notwithstanding the foregoing, if a Plan Participant listed in Appendix A commences
receiving a Normal Retirement Pension, Early Retirement Pension, Special Early Retirement Pension
or Deferred Vested Pension under the 2002 Restatement in connection with his or her retirement or
vested termination from the employ of an Employer (including retirement or vested termination
following deemed employment for 2002 Restatement purposes by reason of qualifying for a Permanent
Disability Benefit), or in the event a Plan Participant’s spouse or other Beneficiary commences
receiving a monthly retirement income under Section 6.1(a), Option 2 or Option 3 of Section 6.2(c),
or Section 7.1 of the 2002 Restatement by reason of such Plan Participant’s death, then
concurrently with the payment of said monthly retirement income under the 2002 Restatement the
Employers shall pay to such Plan Participant, spouse or Beneficiary a monthly income equal to the
amount by which:

     (i) the greater of:

	 	(A)	 	the monthly retirement income that would have been payable to
such Plan Participant, spouse or Beneficiary under the formula set forth in
subsection (a)(i) above, or
	 
	 	(B)	 	the monthly retirement income that would have been payable to
such Plan Participant, spouse or Beneficiary under the formula set forth in
subsection (b)(i) above had such income been computed as if the Participant were a 

-6-

 

	 	 	 	Participant in the 1989 Restatement as of the date of his
retirement, vested termination or death (as applicable), using Credited
Service as determined under the 1989 Restatement and Final Average Earnings
as determined under the 2002 Restatement (without regard to the limitation
on the amount of compensation that may be taken into account for the
purposes of the 2002 Restatement as imposed by Section 401(a)(17) of the
Code and as if Earnings includes amounts voluntarily deferred by the
Participant pursuant to a Lafarge nonqualified deferred compensation plan or
a written agreement between the Participant and Lafarge), converted from the
normal form of benefit payable under the 1989 Restatement to an actuarially
equivalent (as defined in the 1989 Restatement) single life annuity, exceeds

     (ii) the monthly retirement income payable to such Participant, spouse or Beneficiary
under the 2002 Restatement.

The benefits payable under this Plan to such a Plan Participant or his or her spouse or other
Beneficiary shall be paid at the same time and in the same manner as the benefits paid to such Plan
Participant, spouse or Beneficiary under the 2002 Restatement.

     Section 6. Source of Benefits. The benefits payable under this Plan shall be paid by
the Employers solely out of their general assets. No provision of this Plan shall be deemed or
construed to create a trust fund of any kind or to grant to any Plan Participant or his or her
spouse or other Beneficiary any property right or beneficial ownership interest of any kind in the
assets of the Employers. To the extent that any Plan Participant or his or her spouse or other
Beneficiary acquires a right to receive payments from the Employers under this Plan, such right

-7-

 

shall be no greater than the right of any unsecured general creditor of the Employers. If the
benefits payable to a Plan Participant or his or her spouse or other Beneficiary under the 1989
Restatement or the 2002 Restatement are attributable to periods of employment with more than one
Employer, any amounts payable to such Plan Participant, spouse or Beneficiary under this Plan shall
be apportioned among such Employers on an equitable basis determined by the Committee in its
discretion.

     Section 7. Spendthrift Provision. No right or interest of a Plan Participant or his
or her spouse or other Beneficiary under this Plan may be assigned, transferred or alienated, in
whole or in part, either directly or by operation of law, and no such right or interest shall be
liable for or subject to any debt, obligation or liability of such Plan Participant, spouse or
Beneficiary.

     Section 8. Employment Noncontractual. The establishment of this Plan shall not
enlarge or otherwise affect the terms of any Plan Participant’s employment with an Employer, and
such Employer may terminate the employment of such Plan Participant as freely and with the same
effect as if this Plan had not been established.

     Section 9. Adoption by Other Employers. With the consent of the Committee, this Plan
may be adopted by any incorporated or unincorporated trade or business which is an Employing
Company under the 1989 Restatement and/or 2002 Restatement, such adoption to be effective as of the
date specified by such Employing Company at the time of adoption.

     Section 10. Amendment and Termination. The Board of Directors of Lafarge shall have
the right and power at any time and from time to time to amend this Plan, in whole or in part, on
behalf of all Employers, and at any time to terminate this Plan or any Employer’s participation
hereunder; provided, however, that no such amendment or termination shall reduce or eliminate an
Employer’s obligation for the payment of benefits accrued under this Plan as of the date of

-8-

 

such amendment or termination, such benefits to be determined as if the 1989 Restatement or
2002 Restatement, as applicable, had terminated on that date.

     Section 11. Claims Procedure. If any person (hereinafter called the “Claimant”)
feels that he or she is being denied a benefit to which he or she is entitled under this Plan, such
Claimant may file a written claim for said benefit with the Committee. Within 60 days following
the receipt of such claim, the Committee shall determine and notify the Claimant as to whether he
or she is entitled to such benefit. Such notification shall be in writing and, if denying the
claim for benefit, shall set forth the specific reason or reasons for the denial, make specific
reference to the pertinent provisions of this Plan, and advise the Claimant that he or she may,
within 60 days following the receipt of such notice, in writing request to appear before the
Committee or its designated representative for a hearing to review such denial. Any such hearing
shall be scheduled at the mutual convenience of the Committee or its designated representative and
the Claimant, and at any such hearing the Claimant and/or his or her duly authorized representative
may examine any relevant documents and present evidence and arguments to support the granting of
the benefit being claimed. The final decision of the Committee with respect to the claim being
reviewed shall be made within 60 days following the hearing thereon, and the Committee shall in
writing notify the Claimant of said final decision, again specifying the reasons therefor and the
pertinent provisions of this Plan upon which said final decision is based. The final decision of
the Committee shall be conclusive and binding upon all parties having or claiming to have an
interest in the matter being reviewed.

     Section 12. Applicable Law. This Plan shall be governed and construed in accordance
with the internal laws (and not the principles relating to conflicts of laws) of the State of
Maryland, except where superseded by federal law.

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     Section 13. Special Benefit Adjustments. Any provision of this Plan to the contrary
notwithstanding:

     (i) in determining the number of years of service and years of Credited Service to be
credited to John M. Piecuch (“Piecuch”) for the purpose of computing the monthly retirement
income that would have been payable to or with respect to Piecuch under the provisions of
Section 5(b)(i) of this Plan, Piecuch’s period of employment with National Gypsum Company
from March 13, 1978, to December 31, 1986, shall be deemed to be a period of employment with
Lafarge North America Inc. (formerly known as Lafarge Corporation); provided, however, that
the benefit payable to or with respect to Piecuch under this Plan which is attributable to
the additional years of service and years of Credited Service credited to Piecuch under this
Section shall be offset and reduced by the actuarial equivalent (using such actuarial
assumptions as the Committee shall determine to be reasonable for the purposes of this
Section) of any benefit paid or payable to or with respect to Piecuch under the National
Gypsum Company Salaried Employees’ Retirement Plan (or any other defined benefit pension
plan currently or previously maintained by National Gypsum Company) which is attributable to
Piecuch’s period of employment with National Gypsum Company from March 13, 1978, to December
31, 1986; and

     (ii) in computing the monthly retirement income that would have been payable to or with
respect to H. L. Youngblood under the provisions of Section 5(b)(i) of this Plan, such
income shall be computed without the application of any otherwise applicable Early
Retirement Factor provided for under Section 5.03 of the 1989 Restatement.

-10-

 

     Section 14. Offset for Other Nonqualified Plan Benefits. Any provision of this Plan
other than Section 13 to the contrary notwithstanding, the benefit payable to or with respect to a
Plan Participant under this Plan, which is attributable to periods of service used to determine
such Plan Participant’s monthly retirement income under the 1989 Restatement or the 2002
Restatement, shall be offset and reduced by the actuarial equivalent (using such actuarial
assumptions as the Committee shall determine to be reasonable for purposes of this Section) of any
pension benefit paid or payable to or with respect to such Plan Participant for the same period of
service under any other nonqualified plan: (i) which provides benefits that are determined by
reference to benefits payable to or with respect to such Plan Participant pursuant to a
tax-qualified defined benefit pension plan and (ii) under which any Employer, Employing Company,
any Affiliate or any predecessor company has any liability; provided, however, that the offset
provided by this Section shall apply only to the extent that nonqualified plan benefits are not
offset under the 1989 Restatement or 2002 Restatement.

     Section 15. Merger of Redland Supplemental Retirement Income Plans. Effective as of
December 31, 1998, the Western Mobile, Inc. Supplemental Retirement Income Plan and the Genstar
Stone Products Company Supplemental Retirement Income Plan (each such plan hereinafter referred to
as a “Redland SRIP”) were amended to merge into and become a part of this Plan. The provisions of
this Section shall apply to those participants in a Redland SRIP who had an accrued benefit
thereunder as of December 31, 1998 (a “Redland SRIP Participant”). Any provision of this Plan to
the contrary notwithstanding:

     (i) a Redland SRIP Participant shall become a Plan Participant in this Plan only if he
or she is designated as such by the Committee pursuant to Section 4 hereof;

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     (ii) any benefits in pay status under a Redland SRIP as of December 31, 1998, shall
continue to be paid under this Plan in the same manner and amount and for the same period as
provided in the applicable Redland SRIP as in effect on December 31, 1998;

     (iii) the benefits payable under this Plan to or with respect to a Redland SRIP
Participant (i) who had satisfied the requirements for a supplemental plan benefit under a
Redland SRIP as of December 31, 1998, but such benefit had not yet commenced in pay status
as of such date, and (ii) who has not been designated as a Plan Participant under this Plan
in accordance with Section 4, shall be the accrued supplemental plan benefit as of December
31, 1998, that would have been payable to or with respect to such Redland SRIP Participant
under the provisions of the applicable Redland SRIP as of December 31, 1998, and shall vest
and be paid in accordance with the provisions of the applicable Redland SRIP as in effect on
such date; and

     (iv) the benefit payable under this Plan to or with respect to a Redland SRIP
Participant who has been designated as a Plan Participant pursuant to Section 4 shall not be
less than the benefit accrued for such Plan Participant as of December 31, 1998, under the
provisions of the applicable Redland SRIP in effect on such date.

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     IN WITNESS WHEREOF, this amended and restated Plan has been executed this 31st day
of December, 2002, to be effective as of January 1, 2002.

	 	 	 	 	 
	 	LAFARGE NORTH AMERICA INC.

 	 
	 	By  	/s/ James Nealis
 	 
	 	 	James Nealis, Senior Vice President — 	 
	 	 	Human Resources 	 
	 

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Appendix A

Ray S. Arnold

Michael J. Balchunas

Daniel P. Bray

David W. Carroll

Jerodd Jensen

David Jones

Edward X. Junia

James J. Nealis

Eric H. Sundquist

David C. Tovey

Larry J. Waisanen

Patrick H. Walker

Martin A. Warborg

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