Document:

Exhibit 10(f)

 

AMENDMENT NO. 1 TO THE CBS EXCESS 401(K) PLAN

FOR DESIGNATED SENIOR EXECUTIVES

PART A – AMENDMENT AND RESTATEMENT AS OF DECEMBER 31, 2005

 

Except as otherwise noted herein, the following amendments shall be effective as of January 1, 2014.

 

 

1.    Section 2.12 of the CBS Excess 401(k) Plan for Designated Senior Executives – Part A (the “Plan”) is hereby amended by adding at the beginning thereof the words “Prior to January 1, 2014,” by removing the initial capitalization of the word “The” and by adding the following at the end thereof:

 

“and effective as of January 1, 2014, means the notional investment options selected by the Committee in its sole discretion.”

 

2.    Section 5.3(a) of the Plan is hereby amended by adding at the beginning thereof the words “Prior to January 1, 2014,” by removing the initial capitalization of the word “All”, by deleting the words “will be” and inserting in place thereof the word “were” and by adding at the end thereof following new paragraph:

 

“Effective as of January 1, 2014, a Participant may select from a list of notional Investment Options how the balance of his or her Account will be invested.  If no selection is made, the Participant’s Account will be notionally invested in the “qualified default investment alternative” (within the meaning of the CBS 401(k) Plan) in effect from time to time.  Earnings and losses received on the Participant’s notional investments will be credited to the Participant’s Account in the manner designated by the Committee.  The Committee shall develop such procedures as it, in its discretion, deems advisable with respect to the selection of notional investments by Participants and the reflection of value attributable to such notional investments in their Accounts, including, without limitation, procedures which restrict a Participant’s ability to notionally invest in certain Investment Options.”

 

 

AMENDMENT NO. 3 TO THE CBS EXCESS 401(K) PLAN

FOR DESIGNATED SENIOR EXECUTIVES

PART B – AMENDMENT AND RESTATEMENT AS OF JANUARY 1, 2009

 

 

Except as otherwise noted herein, the following amendments shall be effective as of January 1, 2014.

 

 

 

1.    Section 2.19 of the CBS Excess 401(k) Plan for Designated Senior Executives – Part B (the “Plan”) is hereby amended by adding at the beginning thereof the words “Prior to January 1, 2014,” by removing the initial capitalization of the word “The” and by adding the following at the end thereof:

 

“and effective as of January 1, 2014, means the notional investment options selected by the Committee in its sole discretion.”

 

2.    Section 6.2(a) of the Plan is hereby amended by adding at the beginning thereof the words “Prior to January 1, 2014,” by removing the initial capitalization of the word “All”, by deleting the words “will be” and inserting in place thereof the word “were” and by adding at the end thereof the following new paragraph:

 

“Effective as of January 1, 2014, a Participant may select from a list of notional Investment Options how the balance of his or her Account will be invested.  If no selection is made, the Participant’s Account will be notionally invested in the “qualified default investment alternative” (within the meaning of the CBS 401(k) Plan) in effect from time to time.  Earnings and losses received on the Participant’s notional investments will be credited to the Participant’s Account in the manner designated by the Committee.  The Committee shall develop such procedures as it, in its discretion, deems advisable with respect to the selection of notional investments by Participants and the reflection of value attributable to such notional investments in their Accounts, including, without limitation, procedures which restrict a Participant’s ability to notionally invest in certain Investment Options.”

 

2Exhibit 10(g)

 

AMENDMENT NO. 1 TO THE CBS BONUS DEFERRAL PLAN

FOR DESIGNATED SENIOR EXECUTIVES

PART A – AMENDMENT AND RESTATEMENT AS OF DECEMBER 31, 2005

 

Except as otherwise noted herein, the following amendments shall be effective as of January 1, 2014.

 

 

1.    Section 2.10 of the CBS Bonus Deferral Plan for Designated Senior Executives – Part A (the “Plan”) is hereby amended by adding at the beginning thereof the words “Prior to January 1, 2014,” by removing the initial capitalization of the word “The” and by adding the following at the end thereof:

 

“and effective as of January 1, 2014, means the notional investment options selected by the Committee in its sole discretion.”

 

2.    Section 4.3(a) of the Plan is hereby amended by adding at the beginning thereof the words “Prior to January 1, 2014,” by removing the initial capitalization of the word “All”, by deleting the words “will be” and inserting in place thereof the word “were” and by adding at the end thereof the following new paragraph:

 

“Effective as of January 1, 2014, a Participant may select from a list of notional Investment Options how the balance of his or her Account will be invested.  If no selection is made, the Participant’s Account will be notionally invested in the “qualified default investment alternative” (within the meaning of the CBS 401(k) Plan) in effect from time to time.  Earnings and losses received on the Participant’s notional investments will be credited to the Participant’s Account in the manner designated by the Committee.  The Committee shall develop such procedures as it, in its discretion, deems advisable with respect to the selection of notional investments by Participants and the reflection of value attributable to such notional investments in their Accounts, including, without limitation, procedures which restrict a Participant’s ability to notionally invest in certain Investment Options.”

 

3.   Section 8 of the Plan is hereby amended by adding at the beginning thereof the words “Prior to January 1, 2014,” by deleting the words “will automatically be” and inserting in place thereof the words “were automatically”, and by adding at the end the following new paragraph:

 

“Effective as of January 1, 2014, a Participant’s beneficiary designation for the Plan will be a separate written designation in a form acceptable to the Committee that has been properly filed with the Committee and recorded in the Company’s records.  If no such beneficiary designation has been made under the Plan, then a Participant’s beneficiary designation for the Plan shall be the same as the Participant’s beneficiary designation recognized under the CBS Excess 401(k) Plan.  If no such beneficiary designation has been made under the CBS Excess 401(k) Plan, then a Participant’s beneficiary designation for the Plan shall be the same as the Participant’s beneficiary designation recognized under the CBS 401(k) Plan.”

 

 

AMENDMENT NO. 3 TO THE CBS BONUS DEFERRAL PLAN

FOR DESIGNATED SENIOR EXECUTIVES

PART B – AMENDMENT AND RESTATEMENT AS OF JANUARY 1, 2009

 

Except as otherwise noted herein, the following amendments shall be effective as of January 1, 2014.

 

 

1.    Section 2.17 of the CBS Bonus Deferral Plan for Designated Senior Executives – Part B (the “Plan”) is hereby amended by adding at the beginning thereof the words “Prior to January 1, 2014,” by removing the initial capitalization of the word “The” and by adding the following at the end thereof:

 

“and effective as of January 1, 2014, means the notional investment options selected by the Committee in its sole discretion.”

 

2.    Section 4.2(a) of the Plan is hereby amended by adding at the beginning thereof the words “Prior to January 1, 2014,” by removing the initial capitalization of the word “Amounts”, by deleting the words “will be” and inserting in place thereof the word “were” and by adding at the end thereof following new paragraph:

 

“Effective as of January 1, 2014, a Participant may select from a list of notional Investment Options how the balance of his or her Account will be invested.  If no selection is made, the Participant’s Account will be notionally invested in the “qualified default investment alternative” (within the meaning of the CBS 401(k) Plan) in effect from time to time.  Earnings and losses received on the Participant’s notional investments will be credited to the Participant’s Account in the manner designated by the Committee.  The Committee shall develop such procedures as it, in its discretion, deems advisable with respect to the selection of notional investments by Participants and the reflection of value attributable to such notional investments in their Accounts, including, without limitation, procedures which restrict a Participant’s ability to notionally invest in certain Investment Options.”

 

2Exhibit 10(h)

 

Summary of CBS Corporation Compensation for Outside Directors

(Effective January 29, 2014)

 

Directors of CBS Corporation (the “Company”) who are not employees of the Company or any of its subsidiaries (the “Outside Directors”) receive compensation for their service as follows:

 

CASH COMPENSATION

 

·                    An annual Board retainer of $100,000, payable in equal installments quarterly in advance; and

 

·                    The Chairs of the Audit, Compensation and Nominating and Governance Committees each receive an annual retainer of $20,000, payable in equal installments quarterly in advance, and the members of those committees receive a per meeting attendance fee of $2,000.

 

Outside Directors may elect to defer their cash compensation under the CBS Deferred Compensation Plan for Outside Directors, or any successor plan.

 

EQUITY COMPENSATION

 

Restricted Share Units (RSUs):

 

·                    an annual grant of RSUs on each February 15th, equal to $200,000 in value based on the closing price of the Company’s Class B common stock on the New York Stock Exchange (“NYSE”) on the date of grant, which RSUs vest one year from the date of grant; and

 

·                    prorated RSU grants for Outside Directors who join the Board following the date of the annual RSU grant, but during the calendar year of the grant. Such grants will be made 5 business days following the date such Outside Director joins the Board, and will be determined by multiplying the number of months remaining in such calendar year from the date the Outside Director joins the Board (counting the month of joining as a full month), by the value of the annual RSU grant for that calendar year divided by 12, divided by the closing price of the Company’s Class B common stock on the NYSE on the date of grant.  Prorated RSU grants vest on the first anniversary of the date of grant of the annual RSU grant that was awarded during the calendar year in which the Outside Director received such prorated RSU grant.

 

RSUs are payable to Outside Directors in shares of the Company’s Class B common stock upon vesting unless the Outside Director elects to defer settlement of the RSUs to a future date.  Outside Directors are entitled to receive dividend equivalents on the RSUs in the event the Company pays a regular cash dividend on its Class B common stock.  Dividend equivalents will accrue on the RSUs (including deferred RSUs) in accordance with the RSU Plan for Outside Directors until the RSUs are settled.

 

 

OTHER

 

Expenses:

 

Outside Directors are reimbursed for expenses incurred in attending Board, committee and stockholder meetings (including travel and lodging) in accordance with the Company’s normal travel policies.

 

Matching Gifts Program for Directors:

 

All Directors, including Directors who are Employees, are eligible to participate in the Company’s Matching Gifts Program for Directors. Under the program, the Company matches donations made by a Director to eligible tax-exempt organizations at the rate of one dollar for each dollar donated up to $7,500 for each fiscal year. The purpose of the program is to recognize the interest of the Company and its Directors in supporting eligible organizations.

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