Document:

PepsiCo 2014 Form 10-K EX 10.77

EXHIBIT 10.77

AMENDMENT TO THE
PEPSICO PENSION EQUALIZATION PLAN DOCUMENT

The PepsiCo Pension Equalization Plan (“PEP”) is hereby amended, effective October 1, 2014, unless otherwise provided herein, as follows:

I.

Section 3.3 of the main plan document for the PEP 409A program is amended to read as follows:

3.3 Credited Service:  The amount of a Participant’s Pension and a Pre-Retirement Spouse’s Pension or a Pre-Retirement Domestic Partner’s Pension shall be based upon the Participant’s period of Credited Service, as determined under Article III of Part B of the Salaried Plan, except as provided in the remainder of this Section 3.3. 

(a)  Inpats.  The provision in Section 3.5 of Part B of the Salaried Plan which disregards the pre-transfer Credited Service of certain inpats who transfer to the United States shall not apply in the case of such inpat transfers that occur on or after January 1, 2011 and before October 1, 2014.

(b)  Leaves of Absence.  If a Participant’s period of Credited Service (as so determined) would extend beyond the Participant’s Separation from Service date because of a leave of absence, the Plan Administrator may provide for determining the Participant’s 409A Pension at Separation from Service by projecting the benefit the Participant would have if all such Service were taken into account under the Plan.

II.

Corrections to the PEP document necessary to carry forth the above amendment, including corrections to cross-references affected by the amendment, shall be made as necessary.

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	PEPSICO, INC.

	 
	 
	 

	 
	By:
	/s/ Cynthia M. Trudell

	 
	 
	Cynthia M. Trudell

	 
	 
	Executive Vice President, Human Resources 
and Chief Human Resources Officer

	 
	 
	 

	 
	 
	Date: September 29, 2014

APPROVED:

By:  /s/ Cynthia Nastanski                  
Cynthia Nastanski
Senior Vice President, Corporate Law and
Deputy Corporate Secretary

Date: September 29, 2014

2PepsiCo 2014 Form 10-K EX 10.78

EXHIBIT 10.78

AMENDMENT 
TO
THE PEPSICO INTERNATIONAL RETIREMENT PLAN
DEFINED BENEFIT PROGRAM (PIRP-DB)

The PepsiCo International Retirement Plan Defined Benefit Program (PIRP-DB) (“Plan”) is hereby amended as follows, effective as of January 1, 2015:

I.
Section 5.03(c) of the Plan is amended to read in its entirety as follows:

(c)  Lump Sum Payment:  Subject to Section 5.04, a Member who elects not to receive benefits in the normal form may elect to receive payment of his Pension in the form of a single lump sum payment.  The amount of the single lump sum payment shall be the actuarial equivalent of the Single Life Annuity, determined in accordance with Table A, utilizing the lump sum equivalent factors currently applicable to lump sum distributions under the PepsiCo Salaried Plan (disregarding transition factors), calculated as of the date payments would have commenced under the normal form of benefit or other optional benefit.  The lump sum payment shall be made in one taxable year of the Member and shall be paid as soon as practicable after the date specified by the Member in his written election.  Effective for lump sum payments due to be paid on or after the Restatement Date, interest will be added to late lump sum payments in accordance with the administrative practices of the PepsiCo Salaried Plan. No interest shall be payable on such sum during any such deferred period specified by the Member.  

II.

Section 5.04(b) of the Plan is amended to read in its entirety as follows:

(b)  Deferred Vested Pensions:  Deferred Vested Pensions under Section 4.04 shall be eligible for payment only under the Single Life Annuity, the 50 Percent Survivor Option or the 75 Percent Survivor Option, except as provided in the next sentence.  Effective January 1, 2015, Deferred Vested Pensions under Section 4.04 shall also be eligible for the Lump Sum Payment option, but only to the limited extent that such option is available on an on-going basis with respect to deferred vested pensions under the PepsiCo Salaried Plan (except that unlike participants in the PepsiCo Salaried Plan, participants in this Plan with a benefit under the PepsiCo Pension Equalization Plan shall not be excluded from the Lump Sum Payment option). 

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II.
Corrections to the Plan document necessary to carry forth the above amendment, including corrections to cross-references affected by this amendment, shall be made as necessary. 
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This amended and restated Plan is hereby adopted and approved, to be effective as of January 1, 2015 (unless otherwise noted herein), this 16th day of December, 2014.

 
	
			
	 
	 
	 

	 
	PEPSICO, INC.

	 
	 
	 

	 
	By:
	/s/ Cynthia M. Trudell

	 
	 
	Cynthia M. Trudell

	 
	 
	Executive Vice President, Human Resources 
and Chief Human Resources Officer

LAW DEPARTMENT APPROVAL:

By:  /s/ Cynthia Nastanski          
Cynthia Nastanski
Senior Vice President, Corporate Law and
Deputy Corporate Secretary

3PepsiCo 2014 Form 10-K EX 10.79

EXHIBIT 10.79

DECEMBER 2014 AMENDMENT
TO THE
PEPSICO PENSION EQUALIZATION PLAN DOCUMENT
The PepsiCo Pension Equalization Plan (“PEP”) is hereby amended as follows, effective as of January 1, 2014 unless otherwise provided herein:
I.
		
	1.
	The paragraph headed “Lump Sums” in the definition of Actuarial Equivalent in Article II of the main plan document for the PEP 409A program is amended to read as follows:

To determine the lump sum value of a Pension, a Pre-Retirement Spouse’s Pension under Section 4.6, or a Pre-Retirement Domestic Partner’s Pension under Section 4.12, the lump sum equivalent factors currently applicable to lump sum distributions under the Salaried Plan shall apply (disregarding transition factors).
2.    Section 3.2 of the main plan document for the PEP 409A program is amended to read as follows:

3.2    Service:  A Participant’s entitlement to a Pension or, in the event the Participant dies before commencing a benefit hereunder, either a Pre-Retirement Spouse’s Pension for his Eligible Spouse or a Pre-Retirement Domestic Partner’s Pension for his Eligible Domestic Partner, shall be determined under Article IV based upon his period of Service.  A Participant’s period of Service shall be determined under Article III of Part B of the Salaried Plan, except that any Salaried Plan provision which results in disregarding for certain purposes the pre-transfer Service of certain inpats who transfer to the United States shall not apply under this Plan before January 1, 2015, unless such earlier application avoids duplication of benefits under the Salaried Plan.  If a Participant’s period of Service (as so determined) would extend beyond the Participant’s Separation from Service date because of a leave of absence, the Plan Administrator may provide for determining the Participant’s 409A Pension at Separation from Service by projecting the benefit the Participant would have if all such Service were taken into account under the Plan.
3.    Section 3.3 of the main plan document for the PEP 409A program is amended to read as follows:
3.3    Credited Service:  Subject to the next two sentences, the amount of a Participant's Pension, Pre-Retirement Spouse's Pension or Pre-Retirement Domestic Partner's Pension shall be based upon the Participant's period of Credited Service, as determined under Article III of the Salaried Plan. 

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(a)  Inpats.  Any provision in Section 3.5 of Part B of the Salaried Plan which resulted in disregarding the pre-transfer Credited Service of certain inpats who transferred to the United States shall not apply under this Plan in the case of such inpats who transfer to the United States before October 1, 2014, unless such earlier application avoids duplication of benefits under the Salaried Plan.
(b)  Leaves of Absence.  If a Participant’s period of Credited Service (as so determined) would extend beyond the Participant’s Separation from Service date because of a leave of absence, the Plan Administrator may provide for determining the Participant’s 409A Pension at Separation from Service by projecting the benefit the Participant would have if all such Service were taken into account under the Plan.

II.
In the document for the PEP Pre-409A Program, the paragraph headed “Lump Sums” in the definition of Actuarial Equivalent in Article II is amended to read as follows:
To determine the lump sum value of a Pension, or a Pre-Retirement Spouse's Pension under Section 4.6, the factors applicable for such purposes under the Salaried Plan shall apply, except that when the term "PBGC Rate" is used in the Salaried Plan in this context it shall mean "PBGC Rate" as defined in this Plan.  However, in determining a Pre-409A Pension, no change occurring on or after the Effective Date in the basis for determining lump sums from that in effect as of December 31, 2004 shall be taken into account to the extent that doing so would result in a different lump sum (or prior to January 1, 2015, a larger lump sum), but this sentence shall not apply for purposes of Section 5.1(b)(3), relating to the “Limit on the Pre-409A Pension Benefit.”  
III.
Corrections to the Plan document necessary to carry forth the above amendments, including corrections to cross-references affected by these amendments, shall be made as necessary.
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 This amended and restated Plan is hereby adopted and approved, to be effective as of January 1, 2014 (unless otherwise noted herein), this 16th day of December, 2014.

	
			
	 
	 
	 

	 
	PEPSICO, INC.

	 
	 
	 

	 
	By:
	/s/ Cynthia M. Trudell

	 
	 
	Cynthia M. Trudell

	 
	 
	Executive Vice President, Human Resources 
and Chief Human Resources Officer

LAW DEPARTMENT APPROVAL:

By:  /s/ Cynthia Nastanski                                  
Cynthia Nastanski
Senior Vice President, Corporate Law and
Deputy Corporate Secretary

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