Document:

Exhibit 10.4

 

AMERIPRISE FINANCIAL

 

SUPPLEMENTAL RETIREMENT PLAN

 

As Amended and Restated Effective January 1, 2010

 

 

TABLE OF CONTENTS

 

	
  ARTICLE
  1 PURPOSE, EFFECTIVE DATE AND TRANSITION RULES

  	
  1

  
	
   

  	
   

  
	
  ARTICLE
  2 DEFINITIONS

  	
  2

  
	
   

  	
   

  
	
  ARTICLE
  3 ELIGIBILITY

  	
  4

  
	
   

  	
   

  
	
  ARTICLE
  4 PLAN BENEFITS

  	
  5

  
	
   

  	
   

  
	
  ARTICLE
  5 SUBACCOUNTS, INVESTMENT PERFORMANCE AND TRANSFERS

  	
  8

  
	
   

  	
   

  
	
  ARTICLE
  6 DISTRIBUTION OF BOOK RESERVE ACCOUNTS

  	
  10

  
	
   

  	
   

  
	
  ARTICLE
  7 BENEFICIARY DESIGNATION

  	
  12

  
	
   

  	
   

  
	
  ARTICLE
  8 EFFECT OF CERTAIN EVENTS

  	
  12

  
	
   

  	
   

  
	
  ARTICLE
  9 SPECIAL RESTRICTIONS

  	
  13

  
	
   

  	
   

  
	
  ARTICLE
  10 AMENDMENT AND TERMINATION

  	
  14

  
	
   

  	
   

  
	
  ARTICLE
  11 ADMINISTRATION

  	
  14

  
	
   

  	
   

  
	
  ARTICLE
  12 CLAIMS PROCEDURES

  	
  15

  
	
   

  	
   

  
	
  ARTICLE 13 MISCELLANEOUS

  	
  16

  

 

 

AMERIPRISE FINANCIAL

SUPPLEMENTAL RETIREMENT PLAN

 

As Amended and Restated Effective January 1, 2010

 

Article 1

Purpose, Effective Date and Transition Rules

 

1.01.        Purpose.  The Ameriprise Financial Supplemental
Retirement Plan (the “Plan”) was adopted by Ameriprise Financial, Inc.
effective October 1, 2005, was amended and restated in its entirety
effective January 1, 2007, was amended and restated in its entirety
effective January 1, 2009 and is hereby amended and restated in its
entirety effective January 1, 2010. 
The Plan is intended to supplement retirement benefits provided under
the Retirement Plan, the 401(k) Plan (for pay periods ending prior to December 31,
2006), and any other retirement and savings plans sponsored by the Company, for
a select group of management or highly compensated individuals.  The Plan is intended to be and shall be construed
and operated as a “top-hat plan” under Sections 201(2), 301(a)(3), and 401(a)(1) of
the Employee Retirement Income Security Act of 1974, as amended (“ERISA”), and Section 2520.104-23
of the United States Department of Labor Regulations.

 

1.02.        Effective Date.  The Plan became effective October 1,
2005.  Effective as of the close of
business on September 30, 2005, the American Express Company effectuated
the distribution of all of the outstanding securities of Ameriprise Financial, Inc.
to the shareholders of the American Express Company in a tax-free spin-off
under the Code (the “Spin-Off”).  On that
date, the Company ceased to be a participating employer in the American Express
Company’s tax-qualified retirement plans and the components of such plans
covering Company participants were transferred to new plans established by the
Company in a transaction that complied with Section 414(l) of the
Code.  In connection with this
transaction, the component of the American Express Company Supplemental Retirement
Plan (the “AXP Plan”) covering Company participants was similarly transferred
to the Company.  Effective as of the
close of business on September 30, 2005, the Company and its subsidiaries
ceased to be participating companies, and employees and retirees of the Company
and its subsidiaries ceased to be participants, in the AXP Plan.  Effective January 1, 2007, the Plan was
amended to discontinue contributions to Participants in excess of the limits
under the 401(k) Plan for pay periods ending after December 31, 2006,
and to reflect certain other design changes. 
Effective January 1, 2009, the Plan was amended to comply with the
requirements of Section 409A, and to reflect certain other design
changes.  Effective January 1, 2010,
the Plan is hereby amended to clarify the operation of certain provisions in
compliance with Section 409A.

 

1.03.        Transition Rules

 

(a)           Opening Account Balances and
Participation.  Unless
otherwise expressly set forth herein, the account balance as of the close of
business on September 30, 2005 of any individual who had accumulated
benefits under the AXP Plan, the responsibility for which was transferred to
the Company pursuant to the Employee Benefits Agreement by and between the
American Express Company and the Company, dated as of September 30, 2005
(the “EBA”), shall be the account balance such Participant had in the AXP Plan
immediately before the 

 

 

Spin-Off.  For purposes of this transition rule only,
“Participant” shall include individuals with accrued benefits under the AXP
Plan, the responsibility for which was transferred to the Company under the
EBA.  A Participant who became an
Employee of the Company and Participant under the Plan shall accrue benefits
and receive distributions of such benefits, including benefits accrued under
the AXP Plan, as set forth below in the Plan. 
A Participant who had accrued benefits under the AXP Plan, but did not
become an Employee of the Company accruing additional benefits under the Plan,
shall have benefits solely as set forth in, and shall receive payments from the
Company solely in accordance with, the terms of the AXP Plan as in effect on September 30,
2005.

 

(b)           Plan Elections and Designations.  Notwithstanding anything herein to the
contrary and in accordance with the requirements of the EBA, all beneficiary
designations, deferral election forms, investment elections, payment form
elections, and qualified domestic relations orders creating rights for
alternate payees in effect under the AXP Plan as of September 30, 2005
shall be deemed to be effective with respect to the Plan.  For purposes of this Article 1.03(b),
investment elections relating to the American Express Company Stock Fund under
the AXP Plan shall be deemed to apply to the Company Stock Fund under the Plan.

 

(c)           Calculation of Limitations.  Notwithstanding anything herein to the
contrary, for purposes of calculating the Section 415 Limitations and the Section 401(a)(17)
Limitation, compensation and benefits accrued under the AXP Plan (and the
underlying AXP qualified retirement plans) and/or while a Participant was
employed by the American Express Company or its affiliates during 2005 shall be
taken into consideration under the Plan for the 2005 Plan Year.

 

Article 2

Definitions

 

As used in the Plan, the following terms have
the meanings indicated below:

 

2.01.        “Affiliate” means any
corporation or other trade or business under common control with the Company,
as further defined in the Company’s Qualified Retirement Plans.

 

2.02.        “Beneficiary” means
the individual or entity designated by the Participant pursuant to Article 7
and in accordance with procedures established by the Committee to receive
benefits under the Plan in the event of the Participant’s death.

 

2.03.        “Board” means the
board of directors of the Company.

 

2.04.        “Change in Control”
has the meaning given such term in the Ameriprise Financial 2005 Incentive
Compensation Plan, as amended.

 

2.05.        “Claimant” has the
meaning set forth in Article 12.01.

 

2.06.        “Code” means the
Internal Revenue Code of 1986, as it may be amended from time to time, and all
regulations, interpretations and administrative guidance issued thereunder.

 

 

2.07.        “Committee” means the
Compensation and Benefits Committee of the Company or such other committee
designated by the Board to administer the Plan. 
Any reference herein to the Committee shall be deemed to include any
person to whom any duty of the Committee has been delegated pursuant to Article 11.03.

 

2.08.        “Company” means
Ameriprise Financial, Inc. and any of its subsidiaries and Affiliates
which have become participating employers in a Qualified Retirement Plan.

 

2.09.        “Compensation” means,
with respect to excess benefits calculated with reference to a particular
Qualified Retirement Plan, “Compensation” as defined in the applicable
Qualified Retirement Plan, as the context implies, provided that the Committee
may, in its discretion, designate additional or different items, such as the
value of certain equity awards, as Compensation for purposes of one or more of
the benefits provided under the Plan.

 

2.10.        “Deferral Plan” means
the Ameriprise Financial Deferred Compensation Plan, or any similar or
successor non-qualified plan for the deferral of compensation in accordance
with Section 409A.

 

2.11.        “Defined Termination”
has the meaning given such term in the Senior Executive Severance Plan.

 

2.12.        “Employee” means an
elected or appointed officer of the Company or any other individual whom the
Committee identifies as an employee of the Company, and whose compensation is
reported on a Form W-2, regardless of whether the use of such form is
subsequently determined to be erroneous.

 

2.13.        “Exchange Act” means
the Securities Exchange Act of 1934, as amended.

 

2.14.        “Insiders” means such
Participants who are or may be required to file reports under Section 16(a) of
the Exchange Act, with respect to equity securities of  Ameriprise Financial, Inc.

 

2.15.        “401(k) Plan”
means the Ameriprise Financial 401(k) Plan, as amended.

 

2.16.        “Participant” means
an eligible Employee who accrues benefits under the Plan.

 

2.17.        “Plan Year” means the
calendar year with reference to which benefits are determined under the Plan.

 

2.18.        “Qualified Retirement
Plan” means the Retirement Plan and/or the 401(k) Plan, as the context
may imply.

 

2.19.        “Retirement Plan” means
the Ameriprise Financial Retirement Plan, as amended.

 

2.20.        “Section 401(a)(17)
Limitation” refers to the limitation on the dollar amount of Compensation
which may be taken into account under the Qualified Retirement Plans under Section 401(a)(17)
of the Code.

 

 

2.21.        “Section 409A”
means Section 409A of the Code, and the Treasury Regulations promulgated
and other official guidance issued thereunder.

 

2.22.        “Section 415
Limitations” refer to the limitations on benefits for defined benefit
pension plans and defined contribution plans which are imposed by Section 415
of the Code.

 

2.23.        “Senior Executive
Severance Plan” means the Ameriprise Financial Senior Executive Severance
Plan, as amended.

 

2.24.        “Termination of
Employment” means a “separation from service” as defined under Section 409A,
as determined in accordance with the Company’s Policy Regarding Section 409A
Compliance.

 

2.25.        “Unforeseeable Emergency”
means, with respect to a Participant, a severe financial hardship to the
Participant resulting from an illness or accident of the Participant, the
Participant’s spouse, or a dependent (as defined in Section 152(a) of
the Code) of the Participant, loss of the Participant’s property due to
casualty, or other similar extraordinary and unforeseeable circumstances
arising as a result of events beyond the control of the Participant.  In making its determination, the Committee
shall be guided by the prevailing authorities applicable under Section 409A.

 

Article 3

Eligibility

 

3.01.        Automatic Participation.  Participation in the Plan shall be limited to
Employees who meet the requirements of Articles 3.02(a) and 3.02(b), and
shall automatically occur for such Employees; provided, that the Committee may
designate, on a case-by-case basis, Employees or categories of Employees who
shall not be eligible to participate in all or any portion of the Plan.

 

3.02.        Participation Requirements.  To become a Participant in the Plan, an
Employee must:

 

(a)           be a participant under a
Qualified Retirement Plan maintained by the Company.  Participation by an Employee in a Qualified
Retirement Plan shall be determined pursuant to and in accordance with the
eligibility criteria applicable under such Qualified Retirement Plan; and

 

(b)           for the relevant Plan Year:

 

 

(i)            be credited
with Compensation earned from the Company in an amount in excess of the
applicable Code Section 401(a)(17) Limitation or accrue benefits under a
Qualified Retirement Plan in excess of the Section 415 Limitation; or

 

(ii)           have deferred
Compensation under a Deferral Plan and be classified as a level “Grade Band 50”
personnel or greater (as such classification is defined by the Committee from
time-to-time); provided, however, that the Committee may, in its sole
discretion, set a different required pay level or grade for participation in
the Plan.

 

Article 4

Plan Benefits

 

4.01.        Benefits Under the
Retirement Plan.  For
purposes of this Article 4.01, capitalized terms not otherwise defined
herein shall have the same meaning set forth in the Retirement Plan.

 

(a)           Benefits in Excess of Limits
Under the Retirement Plan.  The Company shall establish a book reserve
account pursuant to this Article for: 
(i) a participant under the Retirement Plan; or (ii) a
terminated participant under the Retirement Plan, with respect to Compensation
which is paid by the later of 2 1⁄2 months after the participant’s separation
from service or the end of the Limitation Year that includes the date of the
participant’s separation from service.

 

(i)            Initial Book
Reserve Account Balance.  A
Participant’s initial book reserve account balance shall be zero unless the
Participant was a participant in the AXP Plan. 
A Participant who was a participant in the AXP Plan shall have an
initial book reserve account balance equal to his or her book reserve account
balance in the AXP Plan on September 30, 2005.

 

(ii)           Contribution
Credits.  There shall be credited to a
Participant’s book reserve account, in accordance with Article 4.04, an
amount equal to the excess, if any, of:  (x) the
Contribution Credits that would have been credited to a Participant’s Defined
Benefit Account Balance under the Retirement Plan for the Plan Year if the Plan’s
definition of Compensation was used, the Section 401(a)(17) Limitation was
ignored, and the Participant had not elected or been required to defer the
receipt of any Compensation pursuant to a Deferral Plan, over (y) the
actual Contribution Credits credited to the Participant’s Defined Benefit
Account Balance under the Retirement Plan for the Plan Year.  In the event a Participant terminates from
service as a result of a disability, as determined under the Retirement Plan,
this Article 4.01(a)(ii) will apply as if the Section 401(a)(17)
Limitation and Section 415 Limitations applied to the deemed Compensation
considered by the Retirement Plan.

 

(b)           Additional Years of Service.  Certain Participants, as determined by the
Company in its sole discretion, may be deemed to have rendered five additional
Years of Service under the Plan.  For
each such Participant, subject to such terms and conditions as the Company may
impose upon such benefits by special agreement with such Participant (in the
event of a conflict with this Article 4.01(b), such special agreement
shall control), an additional amount shall be credited to the Participant’s
book reserve account equal to the excess, if any of:  (x) the total cumulative Contribution
Credits that would have been credited to the Participant’s book 

 

 

reserve account under Article 4.01(a) had
the Participant rendered such additional Years of Service under the Retirement
Plan, over (y) the actual total cumulative Contribution Credits credited
to the Participant’s book reserve account under Article 4.01(a) as of
the date the Participant is eligible for such benefits under the Plan.  Subject to the terms of the special agreement
with each such Participant, such amounts shall be calculated and credited in
accordance with Article 4.04 under procedures to be determined from time
to time by the Committee and consistently applied to similarly situated
Employees.  Unless otherwise determined
by the Committee or agreed in a special agreement with the Participant, amounts
credited under this Article 4.01(b) shall be subject to five year
vesting, and such amounts shall be forfeited by the Participant if the
Participant’s service with the Company terminates for any reason other than
death or disability (as defined in the Retirement Plan) before five years of
actual service have been rendered to the Company by such Participant.

 

(c)           Benefits Formula.  The formula of the benefits for a Plan Year
under this Article 4.01 shall be determined by the Committee and applied
in a uniform manner for all similarly situated Employees.

 

(d)           Benefits Restricted to Vested
Portion.  The benefits
credited under this Article 4.01 at the time of distribution to a
Participant shall be restricted to a Participant’s vested portion.  Unless otherwise expressly provided in the
Plan, a Participant’s vested portion shall be determined under the vesting
provisions of the Retirement Plan; provided, that vesting shall cease as of the
date a Participant commences payment pursuant to Article 6.02.  Any non-vested portion of amounts credited to
a Participant hereunder shall be forfeited.

 

(e)           Additional Accounts.  The Committee may, in its sole and exclusive
discretion, establish additional book reserve accounts from time to time.  The procedures to reflect and credit
increases, decreases, interest, dividends, and other income, gains and losses shall
be determined by the Committee in its sole and exclusive discretion.

 

4.02.        Benefits Under the 401(k) Plan.  For purposes of this Article 4.02,
capitalized terms not otherwise defined herein shall have the same meaning set
forth in the 401(k) Plan.

 

(a)           Benefits in Excess of Limits
Under the 401(k) Plan.  If a Participant is a participant in the 401(k) Plan
for a Plan Year ending on or before December 31, 2006, the Company shall
establish book reserve accounts under the Plan on behalf of such
Participant.  A Participant’s initial
book reserve account balance shall be zero unless the Participant was a
participant in the AXP Plan.  A
Participant who was a participant in the AXP Plan shall have an initial balance
in each book reserve account equal to such Participant’s book reserve account
balance in the equivalent account under the AXP Plan on September 30,
2005.  The following amounts shall be
credited to the Participant’s book reserve accounts as described in Article 4.04:

 

(i)            Company Stock
Contribution Allocation.  For
pay periods ending on or before December 31, 2006, an amount shall be
credited to the Participant’s book reserve account for each Plan Year equal
to:  (A) one percent, or such other
amount as may be set by the Committee for some or all Participants, of the sum
of:  (1) the Participant’s
Compensation, calculated without the Section 401(a)(17) Limitation or Section 415
Limitations, plus (2) that portion of a Participant’s Compensation
deferred during such Plan Year pursuant to a Deferral 

 

 

Plan,
minus (B) the amount actually allocated as a Company Stock Contribution to
the account of the Participant under the 401(k) Plan.

 

(ii)           Company
Profit-Sharing Contribution Allocation.  For pay periods ending on or before December 31,
2006, an amount shall be credited to the Participant’s book reserve account for
each Plan Year equal to:  (A) the
Company Profit-Sharing Contribution percentage utilized for purposes of the 401(k) Plan
for that Plan Year for such Participant times the sum of:  (1) the Participant’s Compensation,
calculated without the Section 401(a)(17) Limitation or Section 415
Limitations, plus (2) that portion of a Participant’s Compensation
deferred during such Plan Year pursuant to a Deferral Plan, minus (B) the
amount actually allocated as a Company Profit-Sharing Contribution to the
account of the Participant under the 401(k) Plan.  Unless otherwise expressly provided in the
Plan, benefits credited under this Article 4.02(a)(ii) at the time of
distribution shall be restricted to a Participant’s vested portion as determined
under the applicable provisions of the 401(k) Plan.  Any non-vested portion of such deferred
compensation to be paid shall be forfeited.

 

(iii)          Company
Matching Contribution Allocation.  For pay periods ending on or before December 31,
2006, a Company matching contribution, whether or not the Participant actually
elects to defer Compensation under the 401(k) Plan, for each Plan Year
equal to three percent, or such other amount as may be set by the Committee for
some or all Participants, of:  (A) that
portion of the Participant’s Compensation which was deferred during the Plan
Year pursuant to a Deferral Plan, plus (B) that portion of the Participant’s
Compensation (not including the amounts deferred as described in clause (A) above)
in excess of the Section 401(a)(17) Limitation, shall be contributed and
allocated to the account of a Participant by the Company as a matching
contribution on behalf of such Participant; provided, however, for purposes of
this Company matching contribution, Compensation shall not be subject to the Section 401(a)(17)
Limitation.

 

(b)           Additional Accounts.  The Committee may, in its discretion,
establish additional book reserve accounts from time to time.  The procedures to reflect and credit
increases, decreases, interest, dividends, and other income, gains and losses
shall be determined by the Committee in its sole and exclusive discretion.

 

4.03.        Benefits Upon a Change in
Control.  If a Participant who is
eligible to receive benefits under the Senior Executive Severance Plan experiences
a Defined Termination, then the Participant shall be entitled to an additional
benefit under the Plan in an amount equal to the contributions that would have
been made by the Company on behalf of the Participant under the Retirement Plan
or the Plan (and other similar plans of the Company), during a period equal to
the number of weeks of severance pay to which the Participant is entitled under
the Senior Executive Severance Plan, as in effect immediately prior to the
Change in Control, assuming compensation per week during such period of an
amount equal to the Participant’s weekly severance benefit under the Senior
Executive Severance Plan (for avoidance of doubt, without consideration of any
offsets which may be provided in such plan against severance benefits, such as
termination pay, office closing amounts, etc.). 
The full amount of such benefit shall be credited to the Participant’s
book reserve accounts, as described in Article 4.04, effective as of the
date of the Defined Termination.

 

 

4.04.        Crediting of Accounts

 

(a)           Time and Manner.  Amounts described in this Article 4
shall be credited to a book reserve account established for a Participant at
such times and in such manner as may be determined by the Committee.  In making such credits, the Committee shall
generally attempt to, but shall not be required to, credit accounts at a time
and in a manner as similar as possible to the time and manner for the crediting
of similar amounts under the Qualified Retirement Plans; provided that, unless
the Committee determines otherwise, amounts credited to an account with respect
to the application of the Section 415 Limitations to the Retirement Plan
shall be credited upon the commencement of the benefit payment under the
Retirement Plan, and may, pursuant to rules determined by the Committee,
include for purposes of such calculation years of service, compensation, and
other crediting information accrued under the AXP Plan.  The Committee shall apply such procedures
consistently to similarly situated Participants.

 

(b)           Company Stock Contributions.  Amounts described in Article 4.02(a)(i) shall
be initially credited to a book reserve account established for a Participant
which shall be denominated in units (“Units”). 
For purposes of the Plan, the price and value of a Unit shall be
determined by the Committee in a manner determined by the Committee to be
reasonably consistent with similar determinations made under the 401(k) Plan
Company Stock Fund (the “Stock Fund”).

 

(c)           Other Contributions.  Amounts described in Articles 4.02(a)(ii) (profit-sharing
contributions), 4.02(a)(iii) (matching contributions) and 4.03 (benefits
upon a change in control) shall be credited to a book reserve account
established for a Participant which shall contain various subaccounts selected
by the Committee in its sole and exclusive discretion, representing the various
investment funds available to a Participant under the 401(k) Plan as
provided for in the Plan; provided that, unless otherwise determined by the
Committee, no subaccount shall be established under the Plan to coincide with
any self-directed brokerage account which may be available under the 401(k) Plan.

 

Article 5

Subaccounts, Investment Performance and Transfers

 

5.01.        Earnings Crediting.  For each Participant, the book reserve
accounts established pursuant to Article 4.01 shall be increased by the
Imputed Earnings Credit (as such term is defined in the Retirement Plan), not
less frequently than annually, under procedures and at times determined by the
Committee and consistently applied for similarly situated Participants.  Such earnings shall be credited at the same
interest rate and computed in a similar manner (to the extent administratively
feasible) as Imputed Earnings Credits are computed under the Retirement Plan
for each Plan Year.

 

5.02.        Performance of Company Stock.  Subject to Article 5.06, and to such rules as
may be adopted by the Committee, the performance of the book reserve account
established for each Participant pursuant to Article 4.04(b) shall
reflect the performance of the Stock Fund. 
Such book reserve account shall reflect such increases or decreases in
value from time to time, whether from dividends, gains, losses or otherwise, as
may be experienced by the Stock Fund. 
Subject to Article 9, and to such rules as may be adopted by
the Committee, a Participant may 

 

 

elect to transfer credits to
the book reserve account established pursuant to Article 4.04(b) to
or from such account to or from one or more subaccounts established pursuant to
Article 4.04(c), in a manner similar to the rules for such transfers
under the 401(k) Plan.

 

5.03.        Investment following Change
in Control. 
Notwithstanding the above, effective immediately upon a Change in
Control, to the extent a book reserve account established on behalf of a
Participant reflects, or by the terms of the Plan should in the future reflect,
the performance of the Stock Fund, it shall thereafter reflect the performance
of the 401(k) Plan Income Fund, or a default subaccount selected by the
Committee.

 

5.04.        Investment Allocation.  For each Participant, credits to the book
reserve account established pursuant to Article 4.04(c) shall be made
to such subaccounts thereunder as directed by such Participant.  If more than one subaccount is selected, a
Participant must designate, on a form or other medium acceptable to the
Committee, in one-percent increments, the amounts to be credited to each
subaccount.  A Participant shall be
allowed to amend such designation consistent with the frequency of investment changes
offered the Participant under rules governing the 401(k) Plan for a
given Plan Year.

 

5.05.        Investment Performance.  Subject to Article 5.06, for each
Participant, the performance of such subaccounts shall reflect the performance
of the investment fund under the 401(k) Plan that such subaccount
represents.  Each such subaccount shall
reflect such increases or decreases in value from time to time, whether from
dividends, gains, losses or otherwise, as that experienced by the related
investment fund under the 401(k) Plan. 
Subject to Article 9, credits to such subaccounts may be
transferred to any other subaccount under the Plan on such terms and at such
times as permitted with respect to the related investment funds under the 401(k) Plan,
and to such rules as may be adopted by the Committee.  If a Participant fails to affirmatively
designate one or more subaccounts pursuant to this Article 5.05, subject
to rules established by the Committee, such Participant shall be deemed to
have selected either a default account selected by the Committee or, to the
extent feasible, the subaccount(s) that relate to the Participant’s
investment direction under the 401(k) Plan; provided, however, to the
extent an Insider has directed 401(k) Plan amounts to the Stock Fund, such
Insider shall be deemed to have selected the subaccount relating to the 401(k) Plan
Income Fund or a default subaccount selected by the Committee.  Notwithstanding the foregoing, the Committee
may, in its sole discretion, provide that one or more investment funds
available under the 401(k) Plan, including any self-directed brokerage
account which may be available under the 401(k) Plan, shall not be
available for designation under the Plan.

 

5.06.        Valuation.  Subject to Article 4.04(c), the
subaccounts shall be valued subject to such reasonable rules and
procedures as the Committee may adopt and apply to all Participants similarly
situated with an effort to value such subaccounts as if amounts designated were
invested in at similar times and in manners, subject to administrative
convenience, as amounts are invested, and subject to the same market
fluctuation factors used in valuing such investments in the 401(k) Plan.

 

 

Article 6

Distribution of Book Reserve Accounts

 

6.01.        Distribution Elections.

 

(a)           Initial Elections.  In accordance with rules and procedures
adopted by the Committee, and in compliance with Section 409A, existing
Participants, including Participants (other than those in pay status on December 31,
2004) who were participants under the AXP Plan, may make a distribution
election to receive benefits in a single lump-sum payment or in annual
installments payable over a period of five, ten or 15 consecutive calendar
years.  The amount of each installment
payment shall be equal to the value of the Participant’s respective book
reserve accounts divided by the number of installments remaining to be paid.

 

(i)            Participants
who have not previously made an initial distribution election, whether under
the Plan or under the AXP Plan, may make such an initial election on or before
the date set by the Committee.

 

(ii)           Employees who
first become Participants after December 31, 2005 may make an initial
distribution election in accordance with rules and procedures adopted by
the Committee in compliance with Section 409A.

 

(iii)          A Participant’s
distribution election is irrevocable and may not be modified except as provided
in Article 6.01(b).  Such election
shall apply to the payment of all benefits under the Plan, including benefits
accrued under the AXP Plan (except for benefits that were in pay status under
the AXP Plan on December 31, 2004).

 

(iv)          If a
Participant fails to make a valid, timely distribution election in accordance
with this Article 6.01(a) and the rules and procedures adopted
by the Committee, such Participant shall be deemed to have made an initial
distribution election to receive benefits in the form of a single lump sum.

 

(b)           Subsequent Distribution
Elections.  A
Participant who has not previously modified an initial distribution election,
whether under the Plan or under the AXP Plan, may make a one-time modification
to such Participant’s initial distribution election to elect a different form
of payment.  To be effective, such a
modification shall be made by filing a written notice of modification in such
form and manner as the Committee may prescribe; provided, however, that the
modification (i) must be submitted no later than a date specified by the
Committee in accordance with the requirements of Section 409A, (ii) shall
not take effect until 12 months after the date on which such modification
becomes effective, and (iii) specifies a new distribution date (or a new
initial distribution date in the case of installment distributions) that is no
sooner than five years after the original distribution date (or the original
initial distribution date in the case of installment distributions), or such
later date specified by the Committee.  A
Participant may not change the payment method after Termination of
Employment.  For the avoidance of doubt,
any such distribution which accelerates payments from the Plan shall not cause
any reduction in the amounts otherwise payable hereunder (notwithstanding Section V(E)(1)(b)(ii) of
the AXP Plan).

 

 

6.02.        Payment of Benefits.

 

(a)           Subject to Article 8,
if a Participant has not made an effective one-time modification to his or her
initial distribution election pursuant to Article 6.01(b), then payment of
benefits shall be made (or commence in the case of installment distributions)
as follows:  (i) if a Participant
has elected (or is deemed to have elected) a lump sum payment, it shall be made
on the first January 1 or July 1 which is at least six months
following the Participant’s Termination of Employment for any reason from the
Company, or as soon thereafter as administratively practicable, but in no event
later than 90 days thereafter; and (ii) if a Participant has elected
annual installment payments, they shall begin on July 1 of the calendar
year following the Participant’s Termination of Employment for any reason from
the Company, or as soon thereafter as administratively practicable, but in no
event later than 90 days thereafter, and shall continue on each July 1
thereafter for the period selected by the Participant.

 

(b)           Subject to Article 8,
if a Participant has made an effective one-time modification to his or her
initial distribution election pursuant to Article 6.01(b), then payment of
benefits shall be made (or commence in the case of installment distributions)
as follows:  (i) if a Participant
has elected (or is deemed to have elected) a lump sum payment, it shall be made
on the first January 1 or July 1 which is at least five years and six
months following the Participant’s Termination of Employment for any reason
from the Company, or as soon thereafter as administratively practicable, but in
no event later than 90 days thereafter; and (ii) if a Participant has
elected annual installment payments, they shall begin on July 1 of the
calendar year following the five-year anniversary of the Participant’s
Termination of Employment for any reason from the Company, or as soon
thereafter as administratively practicable, but in no event later than 90 days
thereafter, and shall continue on each July 1 thereafter for the period
selected by the Participant.

 

(c)           A Participant who has
experienced a Termination of Employment and has begun receiving payments as set
forth above, shall continue receiving any remaining payments according to the
terms in effect on the date of such Participant’s Termination of Employment,
even if later re-employed by the Company.

 

6.03.        Offsets.  Notwithstanding anything in the Plan, the
Retirement Plan or the 401(k) Plan to the contrary, to the maximum extent
permissible by Section 409A and applicable law, any amount otherwise due
or payable under the Plan may be forfeited, or its payment suspended, at the
discretion of the Committee, to apply toward or recover any claim the Company
may have against the Participant, including but not limited to, for the
enforcement of the Company’s Detrimental Conduct provisions under its long-term
incentive award plan, to recover a debt to the Company or to recover a benefit
overpayment under a Company benefit plan or program.  No amounts shall be offset against a
Participant’s account prior to the date on which the offset amounts would
otherwise be distributed to the Participant unless otherwise permitted by Section 409A.  An offset shall be made only to the extent
and in the manner permitted by the Company’s Policy Regarding Section 409A
Compliance.

 

6.04.        Effect of Severance Plans.  The benefits of a Participant under the Plan
are subject to the terms of any severance plan of the Company or an Affiliate
applicable to such Participant, which plans may provide for the reduction of
such benefits in accordance with the terms thereof.

 

 

6.05.        Withholding.  The Company shall be entitled to deduct from
any payment under the Plan, regardless of the form of such payment, the amount
of all applicable income and employment taxes, if any, required by law to be
withheld with respect to such payment or may require the Participant to pay to
it such tax prior to and as a condition of the making of such payment.

 

6.06.        Payment Medium.  Any benefits payable under the Plan shall be
paid in cash from the general assets of the Company.

 

Article 7

Beneficiary Designation

 

7.01.        Beneficiary.  A Participant shall designate such
Participant’s Beneficiary or Beneficiaries entitled to receive benefits under
the Plan by filing written notice of such designation with the Committee in
such form as the Committee may prescribe.

 

7.02.        Beneficiary Designation;
Change.  A Participant may revoke or
modify such designation at any time by a further written designation in such
form as the Committee may prescribe.  A
Participant’s Beneficiary designation shall be deemed automatically revoked in
the event of the death of the Beneficiary or, if the Beneficiary is the
Participant’s spouse, in the event of dissolution of marriage.

 

7.03.        No Beneficiary Designation.  If no designation is in effect at the time
benefits payable under the Plan become due, the Beneficiary shall be deemed to
be the Participant’s surviving spouse, if any, and if not, the Participant’s
estate.

 

Article 8

Effect of Certain Events

 

8.01.        Death.  Upon a Participant’s death, benefits under
the Plan shall be payable in cash to a Participant’s Beneficiary.  If a Participant dies while still actively
employed by the Company, such payment shall be made as a single lump-sum payment
on the first January 1 or July 1 which is at least six months
following the Participant’s death.  If a
Participant elects annual installment payments and dies after such installment
payments have commenced, any remaining installment payments shall be made to
such Participant’s Beneficiary as a single lump-sum payment within 90 days of
the date of the Participant’s death, or such later date permissible under Section 409A.

 

8.02.        Unforeseeable Emergency.  In the event that a Participant experiences
an Unforeseeable Emergency, the Participant may petition the Committee to
receive a partial or full payout of amounts credited to one or more of the
Participant’s book reserve accounts.  The
Committee shall determine, in its sole discretion, whether the requested payout
shall be made, the amount of the payout and the Plan Accounts from which the
payout will be made; provided, however, that the payout shall not exceed the
lesser of the Participant’s vested balance in his or her book reserve accounts
or the amount reasonably needed to satisfy the Unforeseeable Emergency plus
amounts necessary to pay taxes reasonably anticipated as a result of the
distribution.  In making its
determination under this Article 8.02, the Committee shall be guided by
the requirements of Section 409A and any other related prevailing legal
authorities and the 

 

 

Committee shall take into
account the extent to which a Participant’s Unforeseeable Emergency is or may
be relieved through reimbursement or compensation by insurance or otherwise or
by the liquidation by the Participant of his or her assets (to the extent the
liquidation of such assets would not itself cause severe financial
hardship).  If, subject to the sole
discretion of the Committee, the petition for a payout is approved, the payout
shall be made within 90 days of the date of the Unforeseeable Emergency.

 

8.03.        Change In Control.  Notwithstanding the above and any other
provision herein to the contrary, to the extent permitted by Section 409A
without excise tax or penalty, effective immediately upon a Change of Control,
the entire value of each Participant’s book reserve accounts under the Plan
shall be maintained in a trust (the “Trust”) established by the Company for
this purpose and the Company shall transfer to the Trust an amount sufficient
to fund the entire value of each Participant’s book reserve accounts.  The Trust is intended to be classified for
federal income tax purposes as a “grantor trust” within the meaning of Subpart
E, Part I, Subchapter J, Chapter 1, Subtitle A of the Code.

 

8.04.        Plan Termination.  In the event of a termination of the Plan
pursuant to Article 10.02 as it relates to any Participant, then subject
to Article 4.04, all amounts credited to each of the book reserve accounts
of each affected Participant shall be 100 percent vested and shall be paid to
the Participant or, in the case of the Participant’s death, to the Participant’s
Beneficiary, in a lump sum.  Such
lump-sum payment shall be made 13 months after such termination (or such
earlier date permitted under Section 409A), notwithstanding any elections
made by the Participant, except that the Company shall not have any right to so
accelerate the payment of any amount to the extent such right would cause the
Plan to fail to comply with, or cause a Participant to be subject to a tax
under, the provisions of Section 409A.

 

Article 9

Special Restrictions

 

9.01.        Insider Status.  The provisions of this Article 9 shall
apply to Insiders.  Such provisions shall
apply during all periods that Insiders are subject to reporting under Section 16(a) of
the Exchange Act, including any period following cessation of Insider status
during which such Insiders are required to report transactions pursuant to Rule 16a-2(b) (or
its successor) under the Exchange Act.  At
such time as any Insider ceases to be subject to Section 16(a) reporting
(and any period contemplated by Rule 16a-2(b) has expired), this Article 9
shall cease to be applicable to such Participant.

 

9.02.        Applicability.  This Article 9 shall be automatically
applicable to any person who, on and after the date hereof, becomes an
Insider.  For purposes of the foregoing,
the effective date of this Article shall be the date the person becomes an
Insider.

 

9.03.        Stock Fund Limitations.  Notwithstanding anything in the Plan to the
contrary, (a) except as set forth below, credits to the account of an
Insider pursuant to Article 4.04 may not be made to any subaccount that
reflects the performance of the Stock Fund, (b) credits made pursuant to Article 4.04
to the account of an Insider at any time may not be transferred to any book
reserve account or subaccount that reflects the performance of the Stock Fund,
and (c) credits made to an Insider’s book reserve account pursuant to Article 4.04(b) at
any time and 

 

 

credits to the account of an
Insider pursuant to Article 4.04 that were made to a subaccount that
reflects the performance of the Stock Fund (which credits could only have been
made when such individual was not an Insider) may not be transferred,
withdrawn, paid out or otherwise changed, other than (i) pursuant to Article 4.04(a) or
(b) (but only at such time as such person is no longer an Insider), or (ii) pursuant
to the forfeiture provisions contained in the last sentence of Article 4.02(a)(ii).

 

9.04.        Exchange Act Exemption.  It is intended that the crediting of amounts
to the accounts of Insiders that represents the performance of the Stock Fund
is intended to qualify for exemption from Section 16 under Rule 16b-3(d) under
the Exchange Act.  The Committee shall,
with respect to Insiders, administer and interpret all Plan provisions in a
manner consistent with such exemption.

 

Article 10

Amendment And Termination

 

10.01.      Plan Amendment.  The Committee may, at any time, amend or
modify the Plan in whole or in part, provided that the Committee may not reduce
or modify the amount of any benefit payable to a Participant or any Beneficiary
receiving benefit payments at the time the Plan is amended or modified.  Notwithstanding the foregoing, the Committee
shall not have the right to amend the Plan to the extent such amendment or
modification would result in a violation of Section 409A.

 

10.02.      Plan Termination.  Although the Company may anticipate that it
will continue the Plan for an indefinite period of time, there is no guarantee
that the Company will continue the Plan or will not terminate the Plan at any
time in the future.  Accordingly, the
Committee reserves the right to discontinue its sponsorship of the Plan and to terminate
the Plan; provided, however, that:  (a) the
Committee may not reduce or modify the amount of any benefit payable to a
Participant or any Beneficiary receiving benefit payments at the time the Plan
is terminated; (b) all plans that are aggregated with the Plan for
purposes of Section 409A are also terminated; and (c) the Plan is not
terminated proximate to a downturn in the financial health of the Company, or
any entity other than the Company with whom the Company would be considered a
single employer under Sections 414(b) or 414(c) of the Code  In the event of a termination described in
this Article 10.02, no new deferred compensation plans may be established
by the Company for a minimum period of three years following the termination
and liquidation of the Plan if such new plan would be aggregated with the Plan
under Section 409A.

 

Article 11

Administration

 

11.01.      Committee Duties.  The Plan shall be administered by the
Committee.  The Committee shall have full
power, authority and discretion to interpret, construe and administer the Plan,
and such interpretation and construction thereof and actions taken thereunder
shall be binding on all persons for the purposes so stated by the
Committee.  The Committee may correct any
defect, supply any omission or reconcile any inconsistency in the Plan in the
manner and to the extent the Committee deems necessary or desirable.  The Committee may prescribe a form of 

 

 

agreement to be used by a
Participant and the Company, to the extent deemed necessary, to defer
compensation under the Plan.

 

11.02.      Binding Effect of Decisions.  The decision or action of the Committee with
respect to any question arising out of or in connection with the
administration, interpretation and application of the Plan and the rules and
regulations promulgated hereunder shall be final and conclusive and binding
upon all persons having any interest in the Plan.

 

11.03.      Agents.  In the administration of the Plan, the
Committee may, from time to time, employ agents and delegate to them such
administrative duties as it sees fit (including acting through a duly appointed
representative) and may from time to time consult with counsel who may be
counsel to the Company.

 

11.04.      Indemnity of Committee.  The Company shall indemnify and hold harmless
the members of the Committee, and any agent to whom duties of the Committee may
be delegated, against any and all claims, losses, damages, expenses or
liabilities arising from any action or failure to act with respect to the Plan,
except in the case of willful misconduct by the Committee or any of its members
or any such agent.

 

Article 12

Claims Procedures

 

12.01.      Presentation of Claim.  Any Participant or the Beneficiary of a
deceased Participant (such Participant or Beneficiary being referred to below
as a “Claimant”) may deliver to the Committee a written claim for a
determination with respect to the amounts distributable to such Claimant from
the Plan.  If such a claim relates to the
contents of a notice received by the Claimant, the claim must be made within 60
days after such notice was received by the Claimant.  The claim must state with particularity the
determination desired by the Claimant. 
All other claims must be made within 180 days of the date on which the
event that caused the claim to arise occurred. 
The claim must state with particularity the determination desired by the
Claimant.

 

12.02.      Notification of Decision.  The Committee shall consider a Claimant’s
claim within a reasonable time, and shall notify the Claimant in writing:  (a) that the Claimant’s requested
determination has been made, and that the claim has been allowed in full; or (b) that
the Committee has reached a conclusion contrary, in whole or in part, to the
Claimant’s requested determination, and such notice must set forth in a manner
calculated to be understood by the Claimant: 
(i)      the specific reason(s) for
the denial of the claim, or any part of it; (ii) specific reference(s) to
pertinent provisions of the Plan upon which 
such denial was based; (iii) a description of any additional
material or information necessary  for
the Claimant to perfect the claim, and an explanation of why such material or
information is necessary; and (iv) an explanation of the claim review
procedure set forth in Article 12.03.

 

12.03.      Review of a Denied Claim.  Within 60 days after receiving a notice from
the Committee that a claim has been denied, in whole or in part, a Claimant (or
the Claimant’s duly authorized representative) may file with the Committee a
written request for a review of the denial of the claim.  Thereafter, but not later than 30 days after
the review procedure began, the 

 

 

Claimant (or the Claimant’s
duly authorized representative):  (a) may
review pertinent documents; (b) may submit written comments or other
documents; and/or (c) may request a hearing, which the Committee, in its
sole discretion, may grant.

 

12.04.      Decision on Review.  The Committee shall render its decision on
review promptly, and not later than 60 days after the filing of a written
request for review of the denial, unless a hearing is held or other special
circumstances require additional time, in which case the Committee’s decision
must be rendered within 120 days after such date.  Such decision must be written in a manner
calculated to be understood by the Claimant, and it must contain: (a) specific
reasons for the decision; (b) specific reference(s) to the pertinent
Plan provisions upon which the decision was based; and (c) such other
matters as the Committee deems relevant.

 

12.05.      Cause of Action.  No legal or equitable action for benefits
under the Plan may be brought after the earliest of 90 days after the claim
denial or one year after the date the cause of action accrued.  For this purpose, a cause of action is
considered to have accrued when the person bringing the legal action knew, or
in the exercise of reasonable diligence should have known, that a plan party
has clearly repudiated the claim or legal position which is the subject of the
action, regardless of whether such person has filed a claim for benefits.  The Committee’s decisions are final.  As described above, an individual is required
to follow the procedures described in this Article 12 and a lawsuit
generally cannot be filed unless the claims and appeals process is
complete.  The deadlines for filing a
lawsuit apply regardless of whether the claims procedures are followed, and the
deadline generally will expire sooner if the claims and appeals process has not
been completed.  For example, the 90-day
period for filing a lawsuit involving a Plan change or amendment starts to run
as of the date the change or amendment is first communicated to Plan
participants even if a claim is not filed.

 

Article 13

Miscellaneous

 

13.01.      Status of Plan.  The Plan is intended to be (a) a plan
that is not qualified within the meaning of Section 401(a) of the
Code and (b) a plan that “is unfunded and is maintained by an employer
primarily for the purpose of providing deferred compensation for a select group
of management or highly compensated employees” within the meaning of Sections
201(2), 301(a)(3) and 401(a)(1) of ERISA.  The Plan shall be administered and
interpreted to the extent possible in a manner consistent with that
intent.  All book reserve accounts and
all credits and other adjustments to such book reserve accounts shall be
bookkeeping entries only and shall be utilized solely as a device for the
measurement and determination of amounts to be paid under the Plan.  No book reserve accounts, credits or other
adjustments under the Plan shall be interpreted as an indication that any
benefits under the Plan are in any way funded.

 

13.02.      Section 409A.  It is intended that the Plan (including all
amendments thereto) comply with provisions of Section 409A, so as to
prevent the inclusion in gross income of any benefits accrued hereunder in a
taxable year prior to the taxable year or years in which such amount would
otherwise be actually distributed or made available to the Participants.  The Plan shall be administered and
interpreted to the extent possible in a manner consistent with that intent and
the Company’s Policy Regarding Section 409A Compliance.

 

 

13.03.      Unsecured General Creditor.  Participants and their beneficiaries, heirs,
successors and assigns shall have no legal or equitable rights, interests or
claims in any property or assets of the Company.  For purposes of the payment of benefits under
the Plan, any and all of the Company’s assets, shall be, and remain, the
general, unpledged unrestricted assets of the Company.  The Company’s obligation under the Plan shall
be merely that of an unfunded and unsecured promise to pay money in the future.

 

13.04.      Other Benefits and
Agreements.  The
benefits provided for a Participant under the Plan are in addition to any other
benefits available to such Participant under any other plan or program for
employees of the Company.  The Plan shall
supplement and shall not supersede, modify or amend any other such plan or
program except as may otherwise be expressly provided.

 

13.05.      Limitations on Liability.  Neither the establishment of the Plan nor any
modification thereof, nor the creation of any account under the Plan, nor the
payment of any benefits under the Plan shall be construed as giving to any
Participant or other person any legal or equitable right against the Company,
or any officer or employer thereof except as provided by law or by any Plan
provision.  No person (including the
Company) in any way guarantees any Participant’s book reserve account from loss
or depreciation, whether caused by poor investment performance of a deemed
investment or the inability to realize upon an investment due to an insolvency
affecting an investment vehicle or any other reason.  In no event shall the Company or any
successor, employee, officer, director or stockholder of the Company, be liable
to any person on account of any claim arising by reason of the provisions of
the Plan or of any instrument or instruments implementing its provisions
(except that the Company shall make benefit payments in accordance with the
terms of the Plan), or for the failure of any Participant, Beneficiary or other
person to be entitled to any particular tax consequences with respect to the
Plan, or any credit or distribution hereunder.

 

13.06.      Nonassignability.  Neither a Participant nor any other person
shall have any right to commute, sell, assign, transfer, pledge, anticipate,
mortgage or otherwise encumber, transfer, hypothecate, alienate or convey in
advance of actual receipt, the amounts, if any, payable hereunder, or any part
thereof, which are, and all rights to which are expressly declared to be,
unassignable and non-transferable.  No
part of the amounts payable shall, prior to actual payment, be subject to
seizure, attachment, garnishment or sequestration for the payment of any debts,
judgments, alimony or separate maintenance owed by a Participant or any other
person, be transferable by operation of law in the event of a Participant’s or
any other person’s bankruptcy or insolvency or be transferable to a spouse as a
result of a property settlement or otherwise.

 

13.07.      Not a Contract of
Employment.  The terms and conditions of
the Plan shall not be deemed to constitute a contract of employment between the
Company and the Participant.  Such
employment is hereby acknowledged to be an “at will” employment relationship
that can be terminated at any time for any reason, or no reason, with or
without cause, and with or without notice, except as otherwise provided in a
written employment agreement.  Nothing in
the Plan shall be deemed to give a Participant the right to be retained in the
service of the Company or to interfere with the right of the Company to
discipline or discharge the Participant at any time.

 

 

13.08.      No Guarantee of Tax
Consequences.

 

(a)           The Company makes no
representations or warranties and assumes no responsibility as to the tax
consequences to any Participant in the Plan. 
Further, payment by the Company to a Participant (or to a Participant’s
Beneficiary or Beneficiaries) in accordance with the terms of the Plan,
including any designation of Beneficiary on file with the Committee at the time
of such Participant’s death, shall be binding on all interested parties and
persons, including such Participant’s heirs, executors, administrators and
assigns, and shall discharge the Company, its directors, officers and employees
from all claims, demands, actions or causes of action of every kind arising out
of or on account of Participant’s participation in the Plan, known or unknown,
for himself or herself, his or her heirs, executors, administrators and
assigns.

 

(b)           No person connected with the
Plan in any capacity, including, but not limited to, the Company and its
directors, officers, agents and employees, makes any representation,
commitment, or guarantee that any tax treatment, including, but not limited to,
Federal, state and local income, estate and gift tax treatment, will be
applicable to any amounts deferred under the Plan, or paid to or for the
benefit of a Participant or Beneficiary under the Plan, or that such tax
treatment will apply to or be available to a Participant or Beneficiary on
account of participation in the Plan.

 

(c)           Any agreement executed
pursuant to the Plan shall be deemed to include the above provisions of this Article 13.08.

 

13.09.      Furnishing Information.  A Participant will cooperate with the Committee
by furnishing any and all information requested by the Committee and take such
other actions as may be requested in order to facilitate the administration of
the Plan and the payments of benefits hereunder, including but not limited to
taking such physical examinations as the Committee may deem necessary.

 

13.10.      Terms.  Whenever any words are used herein in the
masculine, they shall be construed as though they were in the feminine in all
cases where they would so apply; and whenever any words are used herein in the
singular or in the plural, they shall be construed as though they were used in
the plural or the singular, as the case may be, in all cases where they would
so apply.

 

13.11.      Captions.  The captions of the articles and paragraphs
of the Plan are for convenience only and shall not control or affect the
meaning or construction of any of its provisions.

 

13.12.      Governing Law.  The Plan and all determinations made and
actions taken thereunder, to the extent not otherwise governed by federal law,
shall be governed by the laws of the State of Delaware, without reference to
principles of conflict of laws, and construed accordingly.

 

13.13.      Notice.  Any notice or filing required or permitted to
be given to the Committee under the Plan shall be sufficient if in writing and
hand-delivered, or sent by registered or certified mail, to the address below:

 

Ameriprise
Financial, Inc.

360
Ameriprise Financial Center

 

 

Minneapolis,
Minnesota 55474

Attn:  Vice President, Benefits

 

with
a copy to:

 

General
Counsel’s Office

 

Such notice shall be deemed given as of the
date of delivery or, if delivery is made by mail, as of the date shown on the
postmark or the receipt for registration or certification.

 

Any notice or filing required or permitted to
be given to a Participant under the Plan shall be sufficient if in writing and
hand-delivered, or sent by mail, to the last known address of the Participant.

 

13.14.      Successors.  The provisions of the Plan shall bind and
inure to the benefit of the Company and its successors and assigns and the
Participant and the Participant’s designated Beneficiaries.

 

13.15.      Spouse’s Interest.  The interest in the benefits hereunder of a
spouse of a Participant who has predeceased the Participant shall automatically
pass to the Participant and shall not be transferable by such spouse in any
manner, including but not limited to such spouse’s will, nor shall such
interest pass under the laws of intestate succession.

 

13.16.      Validity.  In case any provision of the Plan shall be
illegal or invalid for any reason, said illegality or invalidity shall not
affect the remaining parts hereof, but the Plan shall be construed and enforced
as if such illegal or invalid provision had never been inserted herein.

 

13.17.      Incompetent.  If the Committee determines in its discretion
that a benefit under the Plan is to be paid to a minor, a person declared
incompetent or to a person incapable of handling the disposition of that person’s
property, the Committee may direct payment of such benefit to the guardian,
legal representative or person having the care and custody of such minor,
incompetent or incapable person.  The
Committee may require proof of minority, incompetence, incapacity or
guardianship, as it may deem appropriate prior to distribution of the
benefit.  Any payment of a benefit shall
be a payment for the account of the Participant and the Participant’s estate,
as the case may be, and shall be a complete discharge of any Company liability
under the Plan for such payment amount.

 

13.18.      Legal Fees To Enforce Rights
After Change in Control.  The
Company is aware that upon the occurrence of a Change in Control, the Board
(which might then be composed of new members), or a stockholder of the Company
or of any successor corporation might then cause or attempt to cause the
Company or such successor to refuse to comply with its obligations under the
Plan and might cause or attempt to cause the Company to institute, or may
institute, arbitration or litigation seeking to deny Participants the benefits
intended under the Plan.  In these
circumstances, the purpose of the Plan could be frustrated.  Accordingly, if, following a Change in
Control, it should appear to any Participant that the Company or any successor
corporation has failed to comply with any of its obligations under the Plan or
any agreement thereunder, or if the Company or any other person takes any
action to declare the Plan void or 

 

 

unenforceable or institutes
any arbitration, litigation or other legal action designed to deny, diminish or
to recover from any Participant the benefits intended to be provided, then the
Company irrevocably authorize such Participant to retain counsel of his or her
choice at the expense of the Company to represent such Participant in
connection with the initiation or defense of any arbitration, litigation or
other legal action, whether by or against the Company or any director, officer,
stockholder or other person affiliated with the Company or any successor
thereto in any jurisdiction; provided, however, that in the event that the
trier in any such legal action determines that the Participant’s claim was not
made in good faith or was wholly without merit, the Participant shall return to
the Company any amount received pursuant to this Article 13.18.  Any reimbursements shall be paid in
accordance with the Company’s Policy Regarding Section 409A Compliance.

 

*  *  * 
*  *Exhibit 10.13

 

AMERIPRISE FINANCIAL SENIOR EXECUTIVE SEVERANCE PLAN

 

As Amended and Restated Effective December 10, 2009

 

 

AMERIPRISE FINANCIAL SENIOR EXECUTIVE SEVERANCE PLAN

 

INTRODUCTION

 

The Board of Directors of Ameriprise Financial, Inc.
established the Ameriprise Financial Senior Executive Severance Plan
(hereinafter referred to as the “Plan”), effective as of September 30, 2005,
restated as of November 14, 2005 and amended and restated as of December 10,
2009, to provide for severance benefits for certain eligible senior executives
of Ameriprise Financial, Inc. and its participating subsidiaries whose
employment is terminated under certain conditions.  Severance benefits under the Plan are to be
provided to such eligible executives in exchange for a signed agreement that
includes a release of all claims.

 

1

 

ARTICLE
ONE

DEFINITIONS

 

1.1.          “Affiliated
Company” means any corporation which is a member of a controlled group of
corporations (determined in accordance with Section 4l4(b) of the
Code) of which the Company is a member and any other trade or business (whether
or not incorporated) which is controlled by, or under common control
(determined in accordance with Section 4l4(c) of the Code) with the
Company, but which is not an Employing Company.

 

1.2.          “Base
Salary” means the regular basic cash remuneration before deductions for taxes
and other items withheld, payable to an Employee for services rendered to an
Employing Company, but not including pay for bonuses, incentive compensation,
special pay, awards or commissions.

 

1.3.          “Board
of Directors” means the board of directors of the Company.

 

1.4.          “Bonus”
means the largest annual incentive compensation amount paid to an Employee in
the last three years, excluding the year of the Employee’s Termination of
Employment, over and above Base Salary earned and paid in cash or otherwise,
under any executive bonus or sales incentive plan or program of an Employing
Company.

 

1.5.          “Change
in Control” has the meaning set forth in the Ameriprise Financial 2005
Incentive Compensation Plan, as amended; provided that, notwithstanding
anything to the contrary therein, a Change in Control shall not be deemed to
occur under this Plan as a result of any event or transaction to the extent
that treating such event or transaction as a Change in Control would cause any
tax to become due under Section 409A.

 

1.6.          “Code”
means the Internal Revenue Code of 1986, as amended from time to time, and all
regulations, interpretations and administrative guidance issued thereunder.

 

1.7.          “Committee”
means the Compensation and Benefits Committee of the Board of Directors or any
committee established and appointed by the Board of Directors or by a committee
of the Board of Directors, or any successor committee appointed by the Board of
Directors to administer the Plan.

 

1.8.          “Company”
means Ameriprise Financial, Inc., a Delaware corporation, its successors
and assigns.

 

1.9.          “Comparable
Position” means a job with the Company, an Employing Company, an Affiliated
Company or successor company at the same or higher Total Cash Compensation as
an Employee’s current job and at a work location within reasonable commuting
distance from an Employee’s home, as determined by such Employee’s Employing
Company.  For Employees in a qualifying
international expatriate program adopted
by an Employee’s Employing Company, “Comparable Position” means a job with an
Employing Company, an Affiliated Company or successor company at the same or
higher Total Cash Compensation as an Employee’s current job and at a work
location in the Employee’s country of assignment, home country or career base
country.

 

2

 

1.10.        “Completed
Years of Service” means the number of full one-year periods that have
transpired since the Employee’s original date of hire or, in the case of
someone who has incurred a break in service as defined in the Ameriprise
Financial Retirement Plan, the adjusted date of hire, through the Employee’s
last day of active employment with the Company. 
The determination of Completed Years of Service will take into account
years of service with American Express Company if and to the extent, and in
accordance with, the provisions of the Employee Benefits Agreement by and between
American Express Company and Ameriprise Financial, Inc., dated as of September 30,
2005 (the “Employee Benefits Agreement”).

 

1.11.        “Constructive
Termination” means resignation or other Termination of Employment by an
Employee from an Employing Company as a result of one or more of the following
without the Employee’s written consent within two (2) years after a Change
in Control (each of the following, a “Good Reason”):

 

(a)           a
reduction in Base Salary, except for across-the-board changes similarly affecting
all Employees of the Employing Company and all Employees of any Person in
control of the Employing Company, or any material reduction in the aggregate of
the Employee’s annual target bonus and long term incentive opportunity, in each
case from that in effect immediately prior to the Change in Control;

 

(b)           the
Employing Company’s requirement that the Employee be based more than fifty (50)
miles from the location at which the Employee was based immediately prior to
the Change in Control and which location is more than thirty-five (35) miles
from the Employee’s residence; or

 

(c)           a
significant reduction in the Employee’s position, duties, or responsibilities
from those in effect prior to the Change in Control.

 

The Employee shall notify
the Employing Company within ninety (90) days after the occurrence of an event
giving rise to a Good Reason and the Employing Company shall have thirty (30)
days to remedy the condition, and if remedied by the Employing Company within
such thirty- (30-) day period, no Good Reason shall exist on account of the
remedied event.  A “Constructive
Termination” is intended to qualify as an involuntary separation from service
for purposes of Section 409A, and this definition of “Constructive
Termination” shall be administered and interpreted consistent with such
intention.

 

1.12.        “Defined
Termination” means a Termination of Employment of an Employee within two (2) years
after a Change in Control that occurs as a result of either:

 

(a)           an
Involuntary Termination; or

 

(b)           a
Constructive Termination.

 

1.13.        “Disability”
has the meaning set forth in Section 409A.

 

3

 

1.14.        “Employee”
means any person, at the senior executive level as defined by the Committee,
paid through the payroll function of the Employing Company (as opposed to the
accounts payable function of the Employing Company) and employed on a regular
full-time basis (i.e., an employee whose scheduled workweek is consistent with
the standard workweek schedule of a business unit or department) or regular
part time basis (i.e., an employee who is scheduled to work at least twenty
(20) hours per week, but fewer than the hours of a regular full-time employee)
by an Employing Company, who receives from an Employing Company a regular stated
compensation and an annual IRS Form W-2; provided, however, that an
Employing Company or operating business unit thereof, due to business,
marketplace or employee relations reasons, may, in its sole discretion, by
policy exclude from the definition of Employee under the Plan any category or
level of Employee employed in a non-exempt, exempt or executive level position
or in an initial probationary or trial period of employment.  The term “Employee” shall not include any
person who has entered into an independent contractor agreement, consulting
agreement, franchise agreement or any similar agreement with an Employing
Company, nor the employees of any such person, regardless of whether that
person (including his or her employees) is later found to be an employee by any
court of law or regulatory authority.

 

1.15.        “Employing
Company” means each of the Company and the subsidiary and affiliated companies
of the Company listed on Schedule A attached hereto, as such Schedule A may be
amended by the Committee, in its sole discretion, from time to time.

 

1.16.        “ERISA”
means the Employee Retirement Income Security Act of l974, as amended from time
to time, and all regulations, interpretations and administrative guidance
issued thereunder.

 

1.17.        “Good Cause”
means a discontinuance of an Employee’s employment by an Employing Company upon
one of the following:

 

(a)           an
Employee’s Willful and continued failure to adequately perform substantially
all of the Employee’s duties with an Employing Company;

 

(b)           an
Employee’s Willful engagement in conduct which is demonstrably and materially
injurious to an Employing Company or an affiliate thereof, monetarily or
otherwise; or

 

(c)           an
Employee’s conviction of, or entering a plea of guilty or nolo contendere to (i) a
felony or (ii) any misdemeanor that disqualifies an Employee from
employment with an Employing Company.

 

1.18.        “Involuntary
Termination” means any involuntary Termination of Employment by an Employing
Company for reasons other than Good Cause within two (2) years after a
Change in Control.

 

1.19.        “Leave of
Absence” means the period during which an Employee is absent from work pursuant
to a leave of absence granted by an Employing Company, and a Leave of Absence
shall not constitute a Termination of Employment.

 

4

 

1.20.        “Person”
means a “person” as such term is used in Section 13(d) and 14(d) of
the Securities and Exchange Act of 1934, as amended (the “Exchange Act”),
including any “group” within the meaning of Section 13(d)(3) under
the Exchange Act.

 

1.21.        “Plan”
means the Ameriprise Financial Senior Executive Severance Plan, as set forth
herein and as hereafter amended from time to time.

 

1.22.        “Retirement”
means a Termination of Employment that qualifies as an early, normal or
deferred retirement as defined in and meeting the terms and conditions of the
Ameriprise Financial Retirement Plan, as amended, or any successor plan
thereto.

 

1.23.        “Section 409A”
means Section 409A of the Code, and the Treasury Regulations promulgated
and other official guidance issued thereunder.

 

1.24.        “Separation
Period” means the period of time over which an Employee receives severance
benefits under the Plan in biweekly or other installment payments.

 

1.25.        “Specified
Employee” means a key employee (as defined for purposes of Section 409A,
as determined in accordance with the Company’s Policy Regarding Section 409A
Compliance) of an Employing Company, as determined by the Committee in its sole
discretion.

 

1.26.        “Termination
of Employment” means the date on which an Employee undergoes a “separation from
service” from an Employing Company, as defined under Section 409A, and as
determined in accordance with the Company’s Policy Regarding Section 409A
Compliance.

 

1.27.        “Total Cash
Compensation” means an Employee’s Base Salary and any Bonus.

 

1.28.        “Willful”
means that an act or failure to act on an Employee’s part is done, or omitted
to be done, by the Employee in a manner that is not in good faith, and that is
without reasonable belief that such action or omission was in the best
interests of an Employing Company.

 

1.29.        The
masculine pronoun shall be construed to mean the feminine and the singular
shall be construed to mean the plural, wherever appropriate herein.

 

1.30.        Headings in
this document are for identification purposes only and do not constitute a part
of the Plan.

 

5

 

ARTICLE
TWO

ELIGIBILITY TO RECEIVE BENEFITS

 

2.1.          Eligibility
to Receive Benefits.  Each Employee shall be eligible to receive
benefits under the Plan in the event such Employee undergoes a Termination of
Employment from an Employing Company for one of the following reasons:

 

2.1.1.       Reduction
in force;

 

2.1.2.       Position
elimination;

 

2.1.3.       Office
closing;

 

2.1.4.       Mutually satisfactory
resignation;

 

2.1.5.       Relocation
of an Employee’s current position that does not meet the definition of
Comparable Position; or

 

2.1.6.       Defined
Termination, as defined in Section 1.12, (applicable only within two (2) years
after a Change in Control), and notwithstanding any provision of Section 2.3.

 

2.2.          Limitations
on Eligibility.

 

2.2.1.       An Employee’s
resignation only qualifies as a “mutually satisfactory resignation” for
purposes of Section 2.1.4 if the Employing Company would have terminated the
Employee’s services if the Employee did not voluntarily resign, and the
Employee was aware of that fact.  A “mutually
satisfactory resignation” is intended to qualify as an involuntary separation
from service for purposes of Section 409A, and this definition of “mutually
satisfactory resignation” shall be administered and interpreted consistent with
such intention.

 

2.2.2.       In the
event an Employee who is otherwise eligible to receive benefits under the Plan
is offered a Comparable Position (whether the position is accepted or rejected
by the Employee), he will not be eligible to receive benefits under the
Plan.  In addition, an Employee is not
eligible to receive benefits under the Plan if the Employee accepts any position
in the Employing Company, an Affiliated Company or successor company
(regardless of whether it is a Comparable Position).  An Employee who is offered or placed on a
temporary layoff status (often referred to as a furlough) with reduced or no
pay for a period of less than six (6) months during which time the
Employee continues to participate in certain benefit plans as determined by the
Company is not eligible to receive benefits under the Plan.

 

2.3.          Ineligibility
to Receive Benefits.  An Employee is ineligible to receive benefits
under the Plan in the event such Employee undergoes a Termination of Employment
from an Employing Company for a reason other than those enumerated in Section 2.1
above, including, but not limited to, the following:

 

6

 

2.3.1.       Voluntary
resignation;

 

2.3.2.       Failure to
report for work;

 

2.3.3.       Failure to
return from leave;

 

2.3.4.       Return from
a Leave of Absence which extends beyond the policy reinstatement period, if
applicable, and no position is available;

 

2.3.5.       Excessive
absenteeism or lateness;

 

2.3.6.       Merger,
acquisition, sale, transfer, outsourcing or reorganization of all or part of
the Employing Company that does not constitute a Change in Control where either
(i) a Comparable Position is offered with, or (ii) the Employee
accepts any position (regardless of whether it is a Comparable Position) with,
a successor company, whether affiliated or unaffiliated with the Employing
Company, including an outside contractor, and whether or not the successor
company participates in the Plan;

 

2.3.7.       Violation
of a policy or procedure of the Employing Company, insubordination,
unwillingness to perform the duties of a position, or other misconduct;

 

2.3.8.       Retirement,
including the acceptance of any Employing Company sponsored retirement
incentive; provided, however, that in the event an Employee is otherwise
eligible for a severance pay benefit in accordance with Section 2.1 above
and also eligible for Retirement, the Employee shall be eligible to receive
benefits under the Plan in accordance with Article Three below;

 

2.3.9.       Death; or

 

2.3.10.     Disability.

 

7

 

ARTICLE
THREE

AMOUNT OF BENEFITS

 

3.1.          Amount
of Benefits.  The severance benefit payable to an eligible
Employee under the Plan shall be based on his Completed Years of Service and
position with the Company, Employing Company or an Affiliated Company.  The formula for determining an Employee’s
severance benefit payment shall be calculated by first adding
together:   (i) the Employee’s annual Base Salary in effect
immediately prior to the date of Termination of Employment (or if the Employee
undergoes a Termination of Employment pursuant to Section 1.11(a), the
Employee’s annual Base Salary that was in effect immediately before such
reduction in Base Salary); and (ii) the Employee’s Bonus.  The sum of subsections (i) and (ii) above
shall then be divided by fifty-two (52) to calculate the weekly severance
benefit.  The amount of the total
severance benefit to which an Employee may be entitled is set out in Schedule
B.

 

Notwithstanding the
foregoing and in accordance with the terms of the Employee Benefits Agreement,
any Employee who was eligible to receive severance benefits under the American
Express Company Senior Executive Severance Plan immediately prior to the
Distribution Date (as defined in the Employee Benefits Agreement) and becomes
eligible to receive severance benefits pursuant to the Plan during the period
commencing on the Distribution Date (as defined in the Employee Benefits
Agreement) and ending on the first anniversary of the Distribution Date, shall
receive an amount of severance benefit that is not less than the number of
weeks of pay that such Employee would have received under the American Express
Company Senior Executive Severance Plan as in effect immediately prior to the
Distribution Date.

 

3.2.          Special
Retirement Program Contributions.  An Employee eligible for benefits under the
Plan due to a Defined Termination shall, in addition to the benefits provided
above in Section 3.1, receive the value of Company contributions that
would have been made to the Ameriprise Financial Retirement Plan, Ameriprise
Financial 401(k) Plan, Ameriprise Financial Supplemental Retirement Plan
or other similar plans adopted by the Company, for the period during which the
Employee is receiving weekly severance payments under this Plan.  Effective on the date of the Defined
Termination, this amount will be credited to the Employee’s book reserve
account in the Ameriprise Financial Supplemental Retirement Plan, consistent
with the terms of such plan, and paid in accordance with the terms of such
plan.

 

3.3.          Limitations
on Amount of Severance Benefits.  Severance benefits payable under the Plan
shall be inclusive of and offset by any other severance, redundancy or
termination payment made by an Employing Company to an Employee, including, but
not limited to, any amounts paid pursuant to federal, state, local or foreign
government worker notification (e.g., Worker Adjustment and Retraining
Notification Act) or office closing requirements, any amounts owed the Employee
pursuant to a contract with the Employing Company (unless the contract
specifically provides otherwise) and amounts paid to an Employee placed in a
temporary layoff status (often referred to as a furlough) which immediately
precedes the commencement of the severance payments.

 

8

 

3.4.          Reemployment.  In the event an
Employee is reemployed by the Employing Company or an Affiliated Company within
the period covered by the schedule of severance benefits in Section 3.1
above, the severance benefits, if any, that are in excess of the number of
weeks between the Termination of Employment and the rehire date shall be repaid
by the Employee or withheld by the Employing Company, as the case may be; and
any benefits withheld or repaid shall be forfeited by the terminating
Employee..  In the further event an
eligible Employee who is receiving severance benefits under the Plan is later
rehired by an Employing Company or an Affiliated Company, and employment later
terminates under conditions making such Employee eligible for severance
benefits under the Plan, the amount of the second severance benefit will be
based on such Employee’s actual date of reemployment and not the original date
of employment.

 

3.5.          Withholding
Tax. 
The Employing Company shall deduct from the amount of any severance
benefits payable under the Plan, any amount required to be withheld by the
Employing Company by reason of any law or regulation, for the payment of taxes
or otherwise to any federal, state, local or foreign government.  In determining the amount of any applicable
tax, the Employing Company shall be entitled to rely on the number of personal
exemptions on the official form(s) filed by the Employee with the
Employing Company for purposes of income tax withholding on regular wages.

 

3.6.          Requirement
of Signed Agreement.  Receipt of severance benefits under the Plan
is conditioned upon the Employee signing an agreement with the Employee’s
Employing Company in a form satisfactory to the Company and in accordance with
the requirements of applicable law (the “Agreement”).  The Agreement must include a release of
claims and may include whatever other terms the Employing Company deems
appropriate, including restrictive covenants. 
If the terms of the Agreement are found to be legally unenforceable, the
Employee must return any severance benefits paid pursuant to Section 3.1
of the Plan plus the value of any long term incentive awards which vested
during the Separation Period; provided, however, that in the event the Employee
has a Defined Termination, such restrictive covenants shall:  (a) be
reasonable under the applicable facts and circumstances; (b) include the
following (i) non-solicitation of customers and employees; (ii) confidentiality
of business data; (iii) full release of claims; and (iv) non-denigration
of the Company and its affiliates, and their officers, directors and agents and
(c) not include any non-competition limitations.  Notwithstanding anything herein to the
contrary, the Company shall, for a period of two (2) years and one (1) day
following a Change in Control, be prohibited from entering into any agreement
with an Employee, which contains a more expansive Competitor List (as provided
in Paragraph 2 of the Consent to the Application of Forfeiture and Detrimental
Conduct Provisions to Long-Term Incentive Awards relating to awards issued
under the Ameriprise Financial 2005 Incentive Compensation Plan) than that
which was in effect for such Employee immediately prior to the date of such
Change in Control.  If an Employee has
already signed an Agreement as required by Section 3.6 prior to the date
of a Change in Control, the Employee is not eligible to receive any benefits
that would otherwise be triggered by a Change in Control, except as provided by
Section 4.2.

 

9

 

3.7.          Excise
Tax.

 

(a)           This Section 3.7
shall apply in the event of a Change in Control, as defined in Section 1.5
hereof.

 

(b)           In the event that any payment or benefit received or to be
received by an Employee from the Company, an Employing Company or any
Affiliated Company in connection with a Change in Control or such Employee’s
Termination of Employment (such payments and benefits, excluding any Gross-Up
Payment (as hereinafter defined), being hereinafter referred to collectively as
the “Payments”), will be subject to the excise tax (the “Excise Tax”) referred
to in Section 4999 of the Code, then the Company shall pay to such
Employee, within five (5) days after receipt by such Employee of the
written statement referred to in subsection (d) below, an additional
amount (the “Gross-Up Payment”) such that the net amount retained by such
Employee, after deduction of any Excise Tax on the Payments and any federal,
state and local income and employment taxes and Excise Tax upon the Gross-Up
Payment, shall be equal to the Payments. 
The Gross-Up Payment shall be
paid to the Employee not later than December 31st of the year following
the year in which the Employee remits the related taxes.

 

(c)           For purposes of determining whether the Payments will be
subject to the Excise Tax and the amount of such Excise Tax:  (i) all
payments and benefits received or to be received by an Employee in connection
with such Change in Control or such Employee’s Termination of Employment,
whether pursuant to the terms of the Plan or any other plan, arrangement or
agreement with the Company, any Employing Company, any Person (as such term is
defined in Section 1.20) whose actions result in such Change in Control or
any Person affiliated with the Company, such Employing Company or such Person
(all such payments and benefits, excluding the Gross-Up Payment and any similar
gross-up payment to which an Employee may be entitled under any such other
plan, arrangement or agreement, being hereinafter referred to as the “Total
Payments”), shall be treated as “parachute payments” (within the meaning of Section 280G(b)(2) of
the Code) unless, in the opinion of the accounting firm which was, immediately
prior to the Change in Control, the Company’s independent auditor, or if that
firm refuses to serve, by another qualified firm, whether or not serving as
independent auditors, designated by the Committee (the “Auditor”), such
payments or benefits (in whole or in part) do not constitute parachute
payments, including by reason of Section 280G(b)(2)(A) or Section 280G(b)(4)(A) of
the Code; (ii) no portion of the Total Payments the receipt or enjoyment
of which the Employee shall have waived at such time and in such manner as not
to constitute a “payment” within the meaning of Section 280G(b) of
the Code shall be taken into account; (iii) all “excess parachute payments”
within the meaning of Section 280G(b)(l) of the Code shall be treated
as subject to the Excise Tax unless, in the opinion of the Auditor, such excess
parachute payments (in whole or in part) represent reasonable compensation for
services actually rendered (within the meaning of Section 280G(b)(4)(B) of
the Code) in excess of the Base Amount (within the meaning of Section 280G(b)(3) of
the Code) allocable to such reasonable compensation, or are otherwise not
subject to the Excise Tax; and (iv) the value of any noncash benefits or
any deferred payment or benefit shall be determined by the Auditor in
accordance with the principles of Sections 280G(d)(3) and (4) of the
Code and regulations or other guidance there under.  

 

10

 

For purposes of determining the amount of the Gross-Up
Payment in respect of an Employee,
the Employee shall be deemed to pay federal income tax at the highest marginal
rate of federal income taxation (and state and local income taxes at the
highest marginal rate of taxation in the state and locality of such Employee’s
residence, net of the maximum reduction in federal income taxes which could be
obtained from deduction of such state and local taxes) in the calendar year in
which the Gross-Up Payment is to be made. 
The Auditor will be paid reasonable compensation by the Company for its
services.

 

(d)           In the event that the Excise Tax is finally determined to be
less than the amount taken into account hereunder in calculating the Gross-Up
Payment, then an amount equal to the amount of the excess of the earlier
payment over the redetermined amount (the “Excess Amount”) will be treated as
if it were a loan to the Employee made on the date of the Employee’s receipt of
such Excess Amount, which the Employee will have an obligation to repay to the
Company on the fifth business day after demand, together with interest on such
amount at the lowest applicable federal rate (as defined in Section 1274(d) of
the Code or any successor provision thereto), compounded semi-annually (the “Section 1274
Rate”) from the date of the Employee’s receipt of such Excess Amount until the
date of such repayment (or such lesser rate (including zero) as may be
designated by the Auditor such that the Excess Amount and such interest will
not be treated as a parachute payment as previously defined).  In the event that the Excise Tax is finally
determined to exceed the amount taken into account hereunder in calculating the
Gross-Up Payment (including by reason of any payment the existence or amount of
which cannot be determined at the time of the Gross-Up Payment), within five (5) business
days of such determination, but not later
than December 31st of the year following the year in which the Employee
remits the related taxes, the Company
will pay to the Employee an additional amount, together with interest thereon
from the date such additional amount should have been paid to the date of such
payment, at the Section 1274 Rate (or such lesser rate (including zero) as
may be designated by the Auditor such that the amount of such deficiency and
such interest will not be treated as a parachute payment as previously
defined).  The Employee and the Company
shall each reasonably cooperate with the other in connection with any
administrative or judicial proceedings concerning the amount of any Gross-Up
Payment.

 

(e)           As soon as practicable following a Change in Control, the
Company shall provide to each Employee, a written statement setting forth the
manner in which the Total Payments in respect of such Employee were calculated
and the basis for such calculations, including, without limitation, any
opinions or other advice the Company has received from the Auditor or other
advisors or consultants (and any such opinions or advice which are in writing
shall be attached to the statement).

 

(f)            Notwithstanding
anything herein to the contrary, the Committee may designate by resolution any
group of Employees or individual Employee that would not be eligible to receive
a Gross-Up Payment or any other benefit provided for under this Section 3.6.  With regard to any such Employee or group of
Employees, the Committee may provide for a reduction in Payments for the purpose
of avoiding the imposition of the Excise Tax, 

 

11

 

in all or certain specified circumstances, such reduction to
be implemented pursuant to such rules as the Committee shall adopt from
time to time.

 

3.8.          Payment
for Cancelled Stock Options.  An Employee eligible for benefits under the
Plan due to a Change in Control may receive the value of American Express
Company vested stock options that are cancelled, on or before December 31,
2009, due to a (a) Change in Control or (b) Defined Termination.  The value, if any, will be determined by the
Company, in its sole discretion and be equal to the Black Scholes value (for
the remaining term) less the intrinsic value of the option (all measured at the
options’ cancellation date).  Subject to Article 4.1,
this benefit will be payable in a one-time lump sum payment made as soon as
reasonably practicable following the cancellation of the option due to (a) or
(b) above, but in no event later than 90 days thereafter.

 

12

 

ARTICLE
FOUR

METHOD OF PAYMENT

 

4.1.          Payment.

 

4.1.1.       To the
extent that a Participant’s severance benefit under the Plan qualifies for the
involuntary separation pay exemption to Section 409A or other exemption to
Section 409A, such benefit (or the portion thereof that qualifies for such
exemption) may be payable in biweekly or other installments over a number of
weeks not exceeding the number of weekly severance benefit payments determined
pursuant to Section 3.1 above (including any resolution referred to
therein) at the sole discretion of the Employing Company; provided, however,
the Employee shall have no say in the form of benefit chosen by the Employing
Company.

 

4.1.2.       To the extent that a Participant’s severance
benefit under the Plan does not qualify for the involuntary separation pay
exemption or other exemption to Section 409A, such benefit (or the portion
thereof that does not qualify for such
exemption) shall be paid to the Participant as follows:  (a) the first payment shall be made on
the first day of the seventh month following the Employee’s Termination of
Employment, the amount of which shall equal the sum of the installment payments
that would have been paid to the Employee during the six-month period
immediately following the Employee’s Termination of Employment had the payment
commenced as of such date; and (b) the remainder of the severance benefit
shall be paid in substantially equivalent installments.

 

4.1.3.       Notwithstanding
anything in the Plan to the contrary, if the Employee undergoes a Termination
of Employment within two (2) years following a Change in Control and if
the Employee receives lump-sum severance, to the extent permitted under Section 409A,
the Employee shall continue to be eligible to receive benefits under the
Company’s medical and dental plans for a number of weeks equal to the number of
weekly severance benefit payments determined pursuant to Section 3.1 above
(including any resolution referred to therein), such benefits to be
substantially identical to the benefits provided to other employees who remain
in active employment status on substantially the same terms and conditions as
apply to such active employees (including without limitation, any requirement
that the Employee pay premiums or other similar costs).  In the event that the continuation of any
such benefits would result in the imposition of a tax under Section 409A,
instead of continuing to provide such benefits, the Company will make a
lump-sum payment to the Employee in an amount equal to the present value of
such benefits, as determined by the Committee in its sole discretion, on the
first day of the seventh month following the Employee’s Termination of
Employment, or as soon thereafter as administratively practicable, but in no
event later than 90 days thereafter.

 

4.2.          Inactive
Employment Status.  During the Separation Period (where severance
benefits are paid in biweekly or other installments) the Employee receiving
such payments will 

 

13

 

remain in an inactive employment status until receipt of such
payments is completed, at which time such inactive status will be
terminated.  During the Separation
Period, certain other employee benefits may be continued to the extent permitted under Section 409A, payment for
which shall be deducted from such severance payments in accordance with the
Employee’s previously elected benefit coverage. 
If an Employee has already signed an Agreement as required by Section 3.5
and is receiving severance payments under the Plan on the date of Change in
Control, the following would apply (subject to applicable governing documents):

 

(a)           immediate
vesting of outstanding unvested stock option shares and restricted stock awards
under the Company’s incentive compensation plans; and

 

(b)           cash payment equivalent to the amount of excise tax paid as a
result of the Employee being deemed a “disqualified” individual under current
U.S. tax laws (paid no earlier than first day of the seventh month following
the Employee’s Termination of Employment and no later than the end of the
Employee’s taxable year next following the taxable year in which the related
taxes are remitted to the taxing authority.

 

During the Separation
Period, the Company reserves the right to continue other programs such as the
Ameriprise Financial 2005 Incentive Compensation Plan and the Perquisite
Program in accordance with its policies, which may be changed or terminated
from time to time.  Nothing in this
section shall create a contract to provide such benefits.

 

4.3.          Death.  In the event an
Employee dies before full receipt of severance benefits payable under the Plan,
the remaining severance benefits will be paid to the legal representative of
such Employee’s estate in a lump sum within 90 days of the date of the Employee’s
death, or such later date permissible under Section 409A.

 

14

 

ARTICLE
FIVE

ADMINISTRATION OF THE PLAN

 

5.1.          Powers
of the Employing Company.  The Employing Company shall have such powers,
authorities and discretion as are necessary or appropriate in order to carry
out its duties under the Plan, including, but not limited to, the power:

 

5.1.1.       To obtain
such information as it shall deem necessary or appropriate in order to carry
out its duties under the Plan;

 

5.1.2.       To make
determinations with respect to the grounds for Termination of Employment of any
Employee; and

 

5.1.3.       To
establish and maintain necessary records.

 

5.2.          Employing
Company Authority.  Nothing contained in the Plan shall be deemed
to qualify, limit or alter in any manner the Employing Company’s sole and
complete authority and discretion to establish, regulate, determine or modify
at any time, the terms and conditions of employment, including, but not limited
to, levels of employment, hours of work, the extent of hiring and employment
termination, when and where work shall be done, marketing of its products, or
any other matter related to the conduct of its business or the manner in which its
business is to be maintained or carried on, in the same manner and to the same
extent as if the Plan were not in existence.

 

5.3.          Committee
Duties and Powers.  The Committee shall be responsible for the
general administration and interpretation of the Plan and the proper execution
of its provisions and shall have full discretion to carry out its duties.  The Committee shall be the “Administrator” of
the Plan and shall be, in its capacity as Administrator, a “Named Fiduciary,”
as such terms are defined or used in ERISA. 
For the purposes of carrying out its duties as Administrator, the
Committee may, in its sole discretion, allocate its responsibilities under the
Plan among its members, and may, in its sole discretion, designate persons
other than members of the Committee to carry out such of its responsibilities
under the Plan as it may deem fit.  In
addition to the powers of the Committee specified elsewhere in the Plan, the
Committee shall have all discretionary powers necessary to discharge its duties
under the Plan, including, but not limited to, the following discretionary
powers and duties:

 

5.3.1.       To
interpret or construe the Plan, and resolve ambiguities, inconsistencies and
omissions;

 

5.3.2.       To make and
enforce such rules and regulations and prescribe the use of such forms as
it deems necessary or appropriate for the efficient administration of the Plan;
and

 

5.3.3.       To decide
all questions on appeal concerning the Plan and the eligibility of any person
to receive benefits under the Plan.

 

15

 

5.4.          Determinations.  The determination of
the Committee as to any question involving the general administration and
interpretation or construction of the Plan shall be within its sole discretion
and shall be final, conclusive and binding on all persons, except as otherwise
provided herein or by law.

 

5.5.          Claims
Review Procedure.  Consistent with the requirements of ERISA and
the regulations thereunder as promulgated by the Secretary of Labor from time
to time, the following claims review procedure shall be followed with respect
to the denial of severance benefits to any Employee:

 

5.5.1.       Within
thirty (30) days from the date of an Employee’s Termination of Employment, the
Employing Company shall furnish such Employee either an agreement offering
severance benefits under the Plan or notice of such Employee’s ineligibility
for or denial of severance benefits, either in whole or in part.  Such notice from the Employing Company will
be in writing and sent to the Employee or the legal representatives of his
estate stating the reasons for such ineligibility or denial and, if applicable,
a description of additional information that might cause a reconsideration by
the Committee or its delegate of the decision and an explanation of the Plan’s
claims review procedure.  In the event
such notice is not furnished within thirty (30) days, any claim for severance
benefits shall be deemed denied and the Employee shall be permitted to proceed
to Section 5.5.2 below.

 

5.5.2.       Within sixty
(60) days after receiving notice of such denial or ineligibility or within
ninety (90) days after the date of an Employee’s Termination of Employment if
no notice is received, the Employee, the legal representatives of his estate or
a duly authorized representative may then submit to the Committee a written
request for a review of such decision of denial.

 

5.5.3.       The
Committee will review the claim and within sixty (60) days (or one hundred
twenty (120) days in special circumstances) provide a written response to the
appeal setting forth specific reasons for such decision.  In the event the decision on review is not
furnished within such time period, the claim shall be deemed denied.

 

16

 

ARTICLE
SIX

ADOPTING COMPANIES AND PLAN MERGERS

 

6.1.          Adopting
Companies.  Any corporation which succeeds to the
business and assets of the Company or any part of its operations, may by
appropriate resolution adopt the Plan and shall thereupon succeed to such
rights and assume such obligations hereunder as the Company and said
corporation shall have agreed upon in writing. 
Any corporation which succeeds to the business of any Employing Company
other than the Company, or any part of the operations of such Employing
Company, may by appropriate resolution adopt the Plan and shall thereupon
succeed to such rights and assume such obligations hereunder as such Employing
Company and said corporation shall have agreed upon in writing; provided,
however, that such adoption and the terms thereof agreed upon in such writing
have been approved by the Company.

 

17

 

ARTICLE
SEVEN

AMENDMENT AND TERMINATION

 

7.1.          Right
to Amend or Terminate.  The Company reserves the right, by action of
the Board of Directors or the Committee, to amend or terminate this Plan in
whole or in part at any time and from time to time, and any amendment or
effective date of termination may be given retroactive effect; provided,
however, that the Plan may not be amended or terminated if such amendment or
termination would cause the Plan to fail to comply with, or cause an Employee
to be subject to tax under, the provisions of Section 409A.  The foregoing sentence to the contrary
notwithstanding, for a period of two (2) years and one (1) day after
the date of an occurrence of a Change in Control, neither the Board of
Directors nor the Committee may terminate this Plan or amend this Plan in a
manner that is detrimental to the rights of any Employee receiving severance
benefits under the Plan without his or her written consent.

 

7.2.          Termination
by an Employing Company.  Any Employing Company other than the Company
may withdraw from participation in the Plan at any time by delivering to the
Committee written notification to that effect signed by such Employing Company’s
chief executive officer or his delegate. 
Withdrawal by any Employing Company pursuant to this section or complete
discontinuance of severance benefits under the Plan by any Employing Company
other than the Company, shall constitute termination of the Plan with respect
to such Employing Company.  The foregoing
sentence to the contrary notwithstanding, neither the Board of Directors nor
the Committee may terminate this Plan or amend this Plan in a manner that (a) would
cause the Plan to fail to comply with, or cause an Employee to be subject to
tax under the provisions of Section 409A; or (b) is detrimental to
the rights of any Employee receiving severance benefits under the Plan without
his written consent (i) with respect to the provisions of the Plan which
become applicable upon a Change in Control, and (ii) with respect to all
provisions of the Plan for a period of two (2) years and one (1) day
after the date of a Change in Control.

 

7.3.          Limitation
on Benefits.  In the event any Employing Company withdraws
from participation or the Company terminates the Plan as provided in this Article Seven,
no Employee shall be entitled to receive benefits hereunder for employment
either before or after such action.

 

18

 

ARTICLE
EIGHT

FINANCIAL PROVISIONS

 

8.1.          Funding.  All severance
benefits payable under the Plan shall be payable and provided for solely from
the general assets of the Employing Company in accordance with the Plan, at the
time such severance benefits are payable, unless otherwise determined by the
Employing Company.  The Employing Company
shall not be required to establish any special or separate fund or to make any
other segregation of assets to assure the payment of any severance benefits
under the Plan.

 

19

 

ARTICLE
NINE

LIABILITY AND INDEMNIFICATION

 

9.1.          Standard
of Conduct.  To the extent permitted by ERISA and other
applicable law, no member (which term, as used in this Article Nine, shall
include any employee of any Employing Company designated to carry out any
responsibility of the Committee pursuant to Section 5.3 above) of the
Committee shall be liable for anything done or omitted to be done by him in
connection with the Plan, unless the member failed to act (i) in good
faith and (ii) for a purpose which such member reasonably believed to be
in accordance with the intent of the Plan. 
The Company or Employing Company as applicable hereby indemnifies each
person made, or threatened to be made, a party to an action or proceeding,
whether civil or criminal, or against whom any claim or demand is made, by
reason of the fact that he, his testator or intestate, was or is a member of
the Committee, against judgments, fines, amounts paid in settlement and
reasonable expenses (including attorney’s fees) actually and necessarily
incurred as a result of such action or proceeding, or any appeal therein, or as
a result of such claim or demand, if such member of the Committee acted in good
faith for a purpose which he reasonably believed to be in accordance with the
intent of the Plan and, in criminal actions or proceedings, in addition, had no
reasonable cause to believe that his conduct was unlawful.  Any reimbursements
shall be paid to a member of the Committee in accordance with the Company’s
Policy Regarding Section 409A Compliance.

 

9.2.          Presumption
of Good Faith.  The termination of any such civil or criminal
action or proceeding or the disposition of any such claim or demand, by
judgment, settlement, conviction or upon a plea of nolo contendere, or its
equivalent, shall not in itself create a presumption that any such member of
the Committee did not act (i) in good faith and (ii) for a purpose
which he reasonably believed to be in accordance with the intent of the Plan.

 

9.3.          Successful
Defense. 
A person who has been wholly successful, on the merits or otherwise, in
the defense of a civil or criminal action or proceeding or claim or demand of
the character described in Section 9.1 above shall be entitled to
indemnification as authorized in such Section 9.1.

 

9.4.          Unsuccessful
Defense. 
Except as provided in Section 9.3 above, any indemnification under
Sections 9.1 and 9.2 above, unless ordered by a court of competent
jurisdiction, shall be made by the Company or Employing Company as applicable
only if authorized in the specific case:

 

9.4.1.       By the
Board of Directors acting by a quorum consisting of directors who are not
parties to such action, proceeding, claim or demand, upon a finding that the
member of the Committee has met the standard of conduct set forth in Section 9.1
above; or

 

9.4.2.       If a quorum
under Section 9.4.1 above is not obtainable with due diligence:

 

20

 

9.4.3.       By the
Board of Directors upon the opinion in writing of independent legal counsel
(who may be counsel to any Employing Company) that indemnification is proper in
the circumstances because the standard of conduct set forth in Section 9.1
above has been met by such member of the Committee; or

 

9.4.4.       By the
shareholders of the Company upon a finding that the member of the Committee has
met the standard of conduct set forth in such Section 9.1 above.

 

9.5.          Advance
Payments. 
Expenses incurred in defending a civil or criminal action or proceeding
or claim or demand may be paid by the Company or Employing Company, as applicable,
in advance of the final disposition of such action or proceeding, claim or
demand, if authorized in the manner specified in Section 9.4 above, except
that, in view of the obligation of repayment set forth in Section 9.6
below, there need be no finding or opinion that the required standard of
conduct has been met.

 

9.6.          Repayment
of Advance Payments.  All expenses incurred in defending a civil or
criminal action or proceeding, claim or demand, which are advanced by the
Company or Employing Company as applicable under Section 9.5 above shall
be repaid upon demand by the Company or Employing Company in case the person
receiving such advance is ultimately found, under the procedures set forth in
this Article Nine, not to be entitled to indemnification or, where
indemnification is granted, to the extent the expenses so advanced by the
Company or Employing Company as applicable exceed the indemnification to which
he is entitled.

 

9.7.          Right
to Indemnification.  Notwithstanding the failure of the Company or
Employing Company as applicable to provide indemnification in the manner set
forth in Section 9.4 or 9.5 above, and despite any contrary resolution of
the Board of Directors or of the shareholders in the specific case, if the
member of the Committee has met the standard of conduct set forth in Section 9.1
above, the person made or threatened to be made a party to the action or
proceeding or against whom the claim or demand has been made, shall have the
legal right to indemnification from the Company or Employing Company as
applicable as a matter of contract by virtue of this Plan, it being the
intention that each such person shall have the right to enforce such right of
indemnification against the Company or Employing Company as applicable in any
court of competent jurisdiction.

 

21

 

ARTICLE
TEN

MISCELLANEOUS

 

10.1.        No
Right to Continued Employment.  Nothing in the Plan shall be construed as
giving any Employee the right to be retained in the employ of any Employing
Company or any right to any payment whatsoever, except to the extent of the
severance benefits provided for by the Plan. 
Each Employing Company expressly reserves the right to dismiss any
Employee at any time and for any reason without liability for the effect which
such dismissal might have upon him as an Employee receiving severance benefits
under of the Plan.

 

10.2.        Construction.  This Plan shall be
governed by and construed in accordance with the substantive laws but not the
choice of law rules of the state of New York, except to the extent that
such laws have been superseded by federal law.

 

10.3.        Expenses
of the Plan.  The expenses of establishment and
administration of the Plan shall be paid by the Employing Companies.  Any expenses paid by the Company pursuant to
this Section 10.3 and indemnification under Article Nine shall be
subject to reimbursement by the other Employing Companies of their
proportionate shares of such expenses and indemnification, as determined by the
Committee in its sole discretion.

 

10.4.        Section 409A.  It is intended that
the benefits under the Plan (including all amendments thereto) are either
exempt from, or compliant with, the requirements of Section 409A, so as to
prevent the inclusion in gross income of any benefits accrued hereunder in a
taxable year prior to the taxable year or years in which such amount would
otherwise be actually distributed or made available to the Employees.  The Plan shall be administered and
interpreted to the extent possible in a manner consistent with that intent and
the Company’s Policy Regarding Section 409A Compliance.  Notwithstanding the terms of Article Four,
to the extent that a distribution to an Employee is not exempt from Section 409A
and is required to be delayed by six months pursuant to Section 409A, such
distribution shall be made no earlier than the first day of the seventh month
following the Employee’s Termination of Employment.  The amount of such payment will equal the sum
of the payments that would have been paid to the Employee during the six-month
period immediately following the Employee’s Termination of Employment had the
payment commenced as of such date.  If
the Employee is receiving installment payments, the remaining severance
benefits shall be paid in substantially equivalent installments.

 

10.5.        ERISA
Rights.

 

(a)           Plan Sponsor. 
Ameriprise Financial, Inc. is the Plan Sponsor.  Its address is:

 

Ameriprise
Financial, Inc.

200
Ameriprise Financial Center

Minneapolis,
MN 55474

 

(b)           Employer
Identification Number.  The employer identification number assigned     to Ameriprise Financial, Inc. by the
IRS is: 13-3180631.

 

22

 

(c)           Plan Administrator.  The Compensation and Benefits Committee of
the Board of   Directors, or its delegate,
is the Plan Administrator.  Its address
is:

 

Ameriprise
Financial, Inc.

360
Ameriprise Financial Center

Minneapolis,
MN 55474

 

(d)           Agent for Service of Legal
Process.  Process can be served on the
Company or the Plan Administrator by directing service to:

 

Plan
Administrator

c/o
General Counsel

Ameriprise
Financial, Inc.

52
Ameriprise Financial Center

Minneapolis,
MN 55474

 

ERISA
Rights.  Employees in the Ameriprise
Financial Senior Executive Severance Pay Plan (the “Plan”), are entitled to
certain rights and protections under the Employee Retirement Income Security
Act of 1974 (ERISA).  ERISA provides that
participants are entitled to:

 

Receive
Information About the Plan and Benefits.

 

Examine,
without charge, at the Plan Administrator’s office and at other specified
locations, all documents governing the Plan, including a copy of the latest
annual report (Form 5500 Series) filed by the Plan with the U.S.
Department of Labor, and available at the Public Disclosure Room of the
Employee Benefits Security Administration.

 

Obtain,
upon written request to the Plan Administrator, copies of documents governing
the administration of the Plan, including copies of the latest annual report (Form 5500
Series) and updated summary plan descriptions. 
The Plan Administrator may make a reasonable charge for the copies.

 

Receive
a summary of the Plan’s annual financial report.  The Plan Administrator is required by law to
furnish each participant with a copy of this summary annual report.

 

Prudent
Actions by Plan Fiduciaries

 

In
addition to creating rights for Plan participants, ERISA imposes duties upon
the people who are responsible for the operation of the employee benefit
Plan.  The people who operate the Plan,
called “fiduciaries” of the Plan, have a duty to do so prudently and in the
interest of Plan participants and beneficiaries.  No one, including Ameriprise Financial, Inc.
or any other person, may terminate a participant’s employment or otherwise
discriminate against a participant in any way in order to prevent a participant
from obtaining a benefit to which a participant is entitled or from exercising
their rights under ERISA.

 

23

 

Enforce
Participant’s Rights.

 

If
a participant’s claim for a benefit is denied or ignored, in whole or in part,
a participant has a right to know why this was done, to obtain copies of
documents relating to the decision without charge, and to appeal any denial,
all within certain time schedules.

 

Under
ERISA, there are steps a participant can take to enforce the above rights.  For instance, if a participant requests a
copy of a Plan document from the Plan Administrator or the latest annual report
from the Plan and does not receive them within 30 days, the participant may
file suit in a federal court.  In such a
case, the court may require the Plan Administrator to provide the materials and
pay you up to $110 a day until the participant receives them, unless the
materials were not sent because of reasons beyond the control of the Plan
Administrator.  If a participant has a
claim for benefits that is denied or ignored, in whole or in part, the
participant may file suit in a state or federal court provided that the
participant has exhausted their administrative rights under the Plan.  If it should happen that Plan fiduciaries
misuse the Plans’ money, or if a participant is discriminated against for
asserting their rights, the participant may seek assistance from the U.S.
Department of Labor, or may file suit in a federal court.  The court will decide who should pay court
costs and legal fees.  If the participant
is successful, the court may order the person being sued to pay the court costs
and legal fees.  If the participant loses,
the court may order the participant to pay these costs and fees, for example,
if it finds the participant’s claim is frivolous.

 

Assistance
with Questions.

 

If
a participant has any questions about the Plan, they should contact the Plan
Administrator.  If a participant has any
questions about their rights under ERISA, or needs assistance in obtaining
documents from the Plan Administrator, they should contact the nearest office
of the Employee Benefits Security Administration of the U.S. Department of
Labor, listed in the telephone directory, or the Division of Technical Assistance
and Inquiries, Employee Benefits Security Administration, U.S. Department of
Labor, 200 Constitution Avenue NW, Washington, D.C. 20210.  A participant may also obtain publications
about their rights and responsibilities under ERISA by calling the publications
hotline of the Employee Benefits Security Administration.

 

24

 

AMERIPRISE FINANCIAL

 

SENIOR EXECUTIVE
SEVERANCE PLAN

 

SCHEDULE A

 

November 14,
2005

 

Employing
Companies

·              American Centurion
Life Assurance Company

·              Ameriprise
Enterprise Investment Services, Inc.

·              Ameriprise Financial
Services Inc.

·              RiverSource
Investments, LLC

·              RiverSource Client
Service Corporation

·              IDS Life Insurance
Company

·              IDS Life Insurance
Company of New York

·              IDS Property
Casualty Insurance Company

·              Ameriprise Trust
Company

 

25

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