Document:

exv10w1

 

EXHIBIT 10.1

THIRD AMENDMENT TO EMPLOYMENT AGREEMENT

(John C. Plant)

          THIRD
AMENDMENT dated as of July 28, 2006 (this “Amendment”) to EMPLOYMENT AGREEMENT (the
“Agreement”) dated as of February 6, 2003, by and between TRW Automotive Inc. (the
“Company”), TRW Limited and John C. Plant (“Executive”), as amended.

          WHEREAS, in order to increase the predictability of the supplemental pension benefits to which
Executive is entitled, Executive and Company desire to amend the Agreement as set forth;

          In consideration of the premises and mutual covenants herein and for other good and valuable
consideration, the parties agree as follows:

          1. Defined Terms. Capitalized terms used herein but not defined shall have the
meanings assigned to them in the Agreement.

          2. Amendment to Section 5.c. of the Agreement. The last sentence of Section 5.c. of
the Agreement shall be amended in its entirety to read as follows:

As used in this Agreement, “Average Annual Bonus” means the greater of (a)
$650,000 and (b) the average of the Annual Bonuses earned by the Executive
with respect to the four (4) completed fiscal years among the eight (8)
completed fiscal years immediately preceding the Executive’s termination of
employment that produces the highest such average

          3. No Other Amendments; Effectiveness. Except as set forth in this Amendment,
the Agreement is ratified and confirmed in all respects. This Amendment shall be effective
as of the date hereof.

          4. Governing Law. This Agreement shall be governed by and construed in accordance
with the laws of the State of New York, without regard to conflicts of laws principles thereof.

          5. Counterparts. This Agreement may be signed in
counterparts, each of which shall be an original, with the same effect as if the signatures thereto
and hereto were upon the same instrument.

     IN WITNESS WHEREOF, the parties hereto have duly executed this Agreement as of the day and year first above written.

	 	 	 	 	 	 	 	 	 
	TRW Automotive Inc.	 	 	 	John C. Plant	 	 
	 
	 
	 	/s/ David L. Bialosky	 	 	 	       /s/ John C. Plant	 	 
	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	By:
	 	David L. Bialosky	 	 	 	 	 	 
	Title:
	Executive Vice President
General
Counsel and Secretary	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	TRW Limited	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	By: 
	 	/s/ David L. Bialosky	 	 	 	 	 	 
	 

	 	 	 	 	 	 	 
	 
	 	David L. Bialosky	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	Title:
	Attorney-In-Factexv10w2

 

EXHIBIT 10.2

FIRST AMENDMENT TO THE

TRW AUTOMOTIVE INC. EXECUTIVE SUPPLEMENTAL RETIREMENT PLAN

(EFFECTIVE DATE: FEBRUARY 28, 2003)

          TRW Automotive Inc. (the “Company”) hereby adopts this First Amendment to the TRW Automotive
Inc. Executive Supplemental Retirement Plan (Effective Date: February 28, 2003) (the “Plan”)
established for John C. Plant.

RECITALS

A. The Company adopted and maintains the Plan for the benefit of John C. Plant, its Chief Executive
Officer.

B. The Company desires to modify the definition of Earnings considered in the determination of
benefits under the Plan in accordance with an agreement between Mr. Plant, the Company and TRW
Limited dated as of the date hereof.

NOW, THEREFORE, the Plan is hereby amended, effective immediately upon execution of this First
Amendment by the Company and Mr. Plant, as follows:

	 	1.	 	The first sentence of Section 2.01(i) is amended in its entirety to read as follows:
	 
	 	 	 	Earnings means the sum of (a) the Base Salary received in the twelve (12) month
period preceding the Participant’s termination of employment, but not less than $1,350,000,
and (b) the average of the Annual Bonuses earned with respect to the four (4) completed
fiscal years among the eight (8) completed fiscal years immediately preceding the
Participant’s termination of employment that produces the highest such average, but not
less than $650,000.
	 
	 	2.	 	Exhibit A to the Plan is amended in its entirety, as set forth in Exhibit A attached
hereto.
	 
	 	3.	 	No Other Amendments; Effectiveness. Except as set forth in this First
Amendment, the Plan is ratified and confirmed in all respects. This First Amendment shall
be effective as of the date hereof.
	 
	 	4.	 	Governing Law. This First Amendment shall be governed by and construed in
accordance with the laws of the State of New York, without regard to conflicts of laws
principles thereof.

EXECUTED
this 28th day of July, 2006.

	 	 	 	 	 	 	 
	 	 	TRW Automotive Inc.  
	 
	 	 	 	 	 	 
	 

	 	By:	 	     /s/ David L. Bialosky	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	David L. Bialosky

Executive Vice President

General Counsel and Secretary	 	 

EXECUTED
this 28th day of July, 2006.

	 	 	 	 	 
	 

	 	     John C. Plant
	 	 
	 
	 	     /s/ John C. Plant	 	 
	 

	 	 

	 	 

 

 

Exhibit A

The following example is hypothetical
and intended to illustrate Plan arithmetic. Actual benefits and lump sums
under the Plan  will depend on the timing and circumstances of Mr. Plant’s retirement,
and on his compensation
history at that date. The illustration is based on  the assumption that Mr. Plant’s
Base Salary will increase at a rate
 approximating 4% per year, and that the Annual Bonus earned in a given year will vary by 150%,
200% or 250% of Base Salary as indicated below.

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	a	 	Normal Retirement age under Plan Provisions	 	 	 	 	 	 	57 1/2	 
	b	 	Actual age of retirement	 	 	 	 	 	 	61	 
	 	 	Calculate accrued annual gross Plan benefit at age 61	 	 	 	 	 	 	 	 
	 	 	Base Salary in prior year	 	$	2,094,000	 	 	 	 	 
	 	 	Annual Bonus in prior year
	 	 	200	%	 	$	4,188,000	 	 	 	 	 
	 	 	Annual Bonus in second prior year
	 	 	150	%	 	$	3,019,500	 	 	 	 	 
	 	 	Annual Bonus in third prior year
	 	 	200	%	 	$	3,872,000	 	 	 	 	 
	 	 	Annual Bonus in fourth prior year
	 	 	250	%	 	$	4,655,000	 	 	 	 	 
	 	 	Annual Bonus in fifth prior year
	 	 	200	%	 	$	3,580,000	 	 	 	 	 
	 	 	Annual Bonus in sixth prior year
	 	 	150	%	 	$	2,581,500	 	 	 	 	 
	 	 	Annual Bonus in seventh prior year
	 	 	250	%	 	$	4,137,500	 	 	 	 	 
	 	 	Annual Bonus in eighth prior year
	 	 	200	%	 	$	3,182,000	 	 	 	 	 
	 	 	Earnings to apply in gross benefit formula	 	 	 	 	 	$	6,307,125	 
	 	 	Years of Pensionable Employment at age 61	 	 	 	 	 	 	37	 
	c	 	Annual gross Plan benefit, payable for life commencing at 61**	 	 	 	 	 	$	3,467,600	 
	 	 	Calculate accrued annual UK Scheme accrued benefit at age 61	 	 	 	 	 	 	 	 
	 	 	Base pay in prior year	 	$	2,094,000	 	 	 	 	 
	 	 	10% of base pay in prior year	 	$	209,400	 	 	 	 	 
	 	 	10% of base pay in second prior year	 	$	201,300	 	 	 	 	 
	 	 	10% of base pay in third prior year	 	$	193,600	 	 	 	 	 
	 	 	10% of base pay in fourth prior year	 	$	186,200	 	 	 	 	 
	 	 	10% of base pay in fifth prior year	 	$	179,000	 	 	 	 	 
	 	 	Average pay to apply in UK Scheme benefit formula	 	 	 	 	 	$	2,287,900	 
	d	 	Annual UK Scheme accrued benefit*	 	 	 	 	 	$	1,525,300	 
	e	 	Life annuity equivalent to UK Scheme accrued benefit	 	 	 	 	 	$	1,605,600	 
	f	 	Annual net Plan benefit, payable for
life commencing at 61 = c - e**	 	 	 	 	 	$	1,862,000	 
	g	 	Present value at age 61, of $1 per year payable for life commencing at
age 61, based on assumptions specified in Plan document***	 	 	 	 	 	 	11.8451	 
	h	 	Lump sum value at age 61, = f x g**	 	 	 	 	 	$	22,055,576	 

 

			
	*	 	Payable as a joint and survivor annuity. For purposes of this Exhibit A only, future UK cost
of living assumptions have been factored at a zero percent rate. The actual amount of
the offset calculated under Section 2.01 (a) (5) would be increased assuming an
inflationary environment.
	 
	**	 	A portion of this benefit will be payable from the US Qualified Plan
	 
	***	 	According to the Plan, lump sum values are determined in accordance with assumptions used
by the US Qualified Plan for lump determinations which, in turn, are based on
statutory minimum assumptions that vary with interest rates from year to year.exv10w3

 

EXHIBIT 10.3

FIRST AMENDMENT TO THE

TRW AUTOMOTIVE BENEFIT EQUALIZATION PLAN

(Effective as of January 1, 2005)

          TRW Automotive U.S. LLC (the “Company”) hereby adopts this First Amendment to the TRW
Automotive Benefit Equalization Plan (Effective as of February 28, 2003) (the “Plan”), effective as
of the dates set forth herein.

RECITALS

A. The Company adopted and maintains the Plan for the benefit of certain of its eligible employees
and retirees.

B. The Company desires to modify the election rules and procedures under the Plan to comply with
the American Jobs Creation Act of 2004, effective as of January 1, 2005.

C. The Company desires to amend the Plan to reflect the appointment of Fidelity Investments as the
new recordkeeper for the Plan, effective as of July 1, 2004.

NOW, THEREFORE, the Plan is hereby amended as follows:

	 	1.	 	Effective as of January 1, 2005, Section 3(b) is hereby amended by deleting the
phrase “unless the Participant elects zero percent” where it appears in the second
sentence thereof.
	 
	 	2.	 	Effective January 1, 2005, Section 5(a)(i) is amended in its entirety to read as
follows:

          (i) the Participant’s becoming disabled, as defined by Section 409A of the
Internal Revenue Code of 1986, as amended (the “Code”) and regulations promulgated
thereunder;

	 	3.	 	Effective January 1, 2005, Section 5(c) is amended by adding the following new
sentence to the end thereof:
	 
	 	 	 	For purposes hereof, a participant shall be deemed to have an “emergency event beyond his
control which would impose an immediate and heavy financial hardship”, if he experiences an
“unforeseeable emergency”, as defined by Section 409A of the Code and regulations
promulgated thereunder.

 

 

	 	4.	 	Effective as of January 1, 2005, Section 6 is hereby amended by added the following
new subsections (f) and (g) to the end thereof:

     (f) Notwithstanding anything to the contrary herein, to the extent required by the
American Jobs Creation Act of 2004 and Code Section 409A with respect of amounts earned or
vested under the Plan in any plan year beginning on or after January 1, 2005, a participant
must elect the form in which such amounts shall be paid upon retirement in the year
immediately preceding the plan year in which services are performed. Except as otherwise
provided in applicable Treasury Regulations, any such election shall be irrevocable. If
the Participant fails to make an election under this subsection (f), payment shall be made
in the form of a single sum.

     (g) Notwithstanding anything to the contrary herein, to the extent required by the
American Jobs Creation Act of 2004 and Code Section 409A, distribution to a participant who
is a “key employee” must be delayed at least 6 months after the last day worked.

	 	5.	 	Effective as of July 1, 2004, the Plan is hereby amended by replacing all references
to Putnam Fiduciary Trust Company or Putnam with references to Fidelity Investments or
Fidelity.

EXECUTED this 18th day of November, 2004.

	 	 	 	 	 
	 	TRW Automotive U.S. LLC

 	 
	 	By:  	/s/ David L. Bialosky

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00107-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00107-of-00352.parquet"}], [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00107-of-00352.parquet"}]]