Document:

Exhibit 10.7

 

SUPERIOR
ESSEX INC.

 

AMENDED AND
RESTATED

SENIOR
EXECUTIVE RETIREMENT PLAN

 

Introduction

 

The purpose of the Plan is to provide supplemental retirement benefits
to certain employees of the Company and its Affiliates, in addition to other
sources of retirement income.  It is intended that the Plan will be a
non-qualified, unfunded, deferred compensation plan for a “select group of
management or highly compensated employees” as that term is used in
ERISA.  The purpose of the Plan is also to attract, retain and motivate
key personnel for the progress of the Company and its Affiliates.

 

This Plan was originally effective November 10, 2003 and is hereby
amended and restated effective as of April 1, 2008.

 

Article I.

Definitions

 

The following words and phrases as used herein have the following
meaning unless a different meaning is plainly required by the context:

 

1.1.          “Actuarial Equivalent” means an amount equal in value on an actuarial basis, as determined by
an actuary selected by the Committee, based on the Actuarial Equivalent
Factor.  The calculation by the actuary shall be final and binding on all
persons.

 

1.2           “Actuarial Equivalent Factor” means a factor reflecting an assumption of interest at a rate of
7.0%and utilizing the sex-distinct RP-2000 Mortality Tables based on White
Collar Mortality with Mortality Improvements Projected to the calendar year in
which the Participant’s Normal Retirement Date would occur, using projection
scale AA.

 

1.3.          “Affiliate” means each of the following:  (a) any subsidiary corporation
of the Company within the meaning of Section 424(f) of the Code; (b) any
parent corporation of the Company within the meaning of Section 424(e) of
the Code; (c) any corporation, trade or business (including, without
limitation, a partnership or limited liability company) which is directly or
indirectly controlled 50% or more (whether by ownership of stock, assets or an
equivalent ownership interest or voting interest) by the Company or one of its
Affiliates; and (d) any other entity in which the Company or one of its
Affiliates has a material equity interest and which is designated as an “Affiliate”
by resolution of the Committee.

 

1.4.          “Beneficiary” means the individual designated by the
Participant to receive benefits payable under the Plan in the event of the
Participant’s death.  If no Beneficiary is designated or if the
Beneficiary predeceases the Participant, the Participant’s Beneficiary shall be
his or her spouse, or if the Participant is not  married, the Participant’s
estate.  A Participant’s designation of a Beneficiary (or any election to
revoke or change a prior Beneficiary designation) must be made and filed with
the Committee, in writing, on such form(s) and in such manner prescribed
by the Committee.  Upon the acceptance by the Committee of a new
Beneficiary designation, all Beneficiary designations previously filed shall be
canceled.  The Committee shall be entitled to rely on the last Beneficiary
designation filed by the Participant and accepted by the Committee prior to his
or her death.

 

 

1.5.          “Benefit Percentage” means, except as provided in Appendix A, one and one-half percent
(1.5%).

 

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

 

1.7.          “Cause” means the following: (a) in the case where there is no employment
agreement or similar agreement in effect between the Company or an Affiliate
and the Participant (or where there is such an agreement but it does not define
“cause” (or words of like import)), (i) a Participant’s continued willful
failure to perform substantially the Participant’s duties (other than as a
result of total or partial incapacity due to physical or mental illness)
following written notice by the Company to the Participant of such failure, (ii) dishonesty
in the performance of the Participant’s duties which is injurious (other than
in some immaterial or de minimis respect) to the financial condition or
business reputation of the Company or any of its Affiliates, (iii) a
Participant’s conviction of, or plea of guilty or nolo  contendere
to, a crime constituting (y) a felony under the laws of the United States
or any state thereof or (z) a misdemeanor involving misconduct by the
Participant in his personal or professional conduct punishable by imprisonment
of more than three days or a fine in excess of $5,000 (other than a traffic
violation), which is reasonably likely to damage the business, prospects or
reputation of the Company or any of its Affiliates in any respect, (iv) a
Participant’s willful malfeasance or willful misconduct in connection with the
Participant’s duties or any act or omission which is injurious (other than in
some immaterial or de minimis respect) to the financial condition or business
reputation of the Company or any of its Affiliates or (v) a Participant’s
breach of the provisions of Sections 9 or 10 of this Agreement (other than a
breach which is insubstantial and insignificant, taking into account all of the
circumstances); provided, however, that any event described in
clauses (i), (ii) and (iv) of this Section 1.7(a) shall
constitute Cause only if a Participant fails to cure such event, to the
reasonable satisfaction of the Board, within 10 days after receipt from the
Company of written notice of the event which constitutes Cause or (b) in
the case where there is an employment agreement or similar agreement in effect
between the Company or an Affiliate and the Participant that defines “cause”
(or words of like import), as defined under such agreement; provided, however,
that with regard to any agreement under which the definition of “cause” only
applies on occurrence of a change in control, such definition of “cause” shall
not apply until a change in control actually takes place and then only with
regard to a termination thereafter, provided that prior to a change in control “cause”
shall be defined as provided in subsection (a) above.

 

1.8.          “Change in Control” means the following: (a) in the case where there is no change in
control agreement or similar agreement in effect between the Company or an
Affiliate and the Participant, a “change in control” as defined in the Company’s
2005 Stock Incentive Plan, as amended from time to time, or, if after the
Effective Date, the Company adopts a new equity-based incentive plan, a “change
in control” as defined in such plan or (b) in the case where there is a
change in control agreement or similar agreement in effect between the Company
or an Affiliate and the Participant that defines “change in control” (or words
of like import), as defined under such agreement without regard to whether a
change in control has taken place.

 

1.9.          “Code” means the Internal Revenue Code of 1986, as amended.  Any
reference to any section of the Code shall also be a reference to any successor
provision and any Treasury Regulation promulgated thereunder.

 

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1.10.        “Committee” means the Compensation Committee of the Board or such other committee
as may be appointed by the Board from time to time to administer the
Plan.  The Committee may act under the Plan through any officers or
employees duly authorized by it.

 

1.11.        “Company” means Superior Essex Inc. and any successors to the Company or the
business or all or substantially all of the assets of Superior Essex Inc.

 

1.12.        “Company Client”  with respect to any Participant has the meaning assigned such term (or
a substantively similar term or concept in the context of restrictive
covenants) in any employment or change in control agreement between such
Participant and the Company.  In the
absence of any such agreement, “Company Client” means an actual client of the
Company or any Affiliate as of the date of a Participant’s Termination of
Employment and during the 12 months prior to that date as well as any
prospective client of the Company or any Affiliate that has been actively
solicited by the Company or any Affiliate during that same 12-month period.

 

1.13.        “Compensation” means a Participant’s annual base salary and actual short term bonus
earned as an employee from the Company or an Affiliate, including, without
limitation, (a) any amounts reduced pursuant to the Participant’s salary
reduction agreement under Section 125, 132 or 401(k) of the Code (if
any), or (b) any amounts that the Participant elects to defer under any
nonqualified deferred compensation plan or arrangement maintained by the
Company or one of its Affiliates.  Compensation shall not include any
other compensation, including, without limitation, commissions, overtime pay,
severance pay, incentive compensation (other than short-term bonus), benefits
paid under any tax-qualified plan, any group medical, dental or other welfare
benefit plan, amounts realized upon the exercise of a stock option or vesting
of restricted stock, noncash compensation, fringe benefits (cash and noncash),
reimbursements or other expense allowances, moving expenses, retention payments
or any other additional compensation.  For purposes of this Plan, annual
bonus is deemed to be earned as of the end of the year for which services were
performed; regardless of whether the bonus had been paid as of the date of
Termination of Employment.  Notwithstanding
any other provision of the Plan to the contrary, Compensation shall not include
any amounts received from the Company or one of its Affiliates (or any of their
respective predecessors) prior to November 10, 2003.

 

1.14.        “Competitive Business” with respect to any Participant has the meaning assigned such term (or
a substantively similar term or concept in the context of restrictive
covenants) in any employment or change in control agreement between such
Participant and the Company.  In the
absence of any such agreement, “Competitive Business” means an entity or
enterprise whose business, in whole or in part, involves the manufacture, sale
or distribution of telecommunication wire or cable products or magnet wire or
related products that directly compete with or are directly substitutable for
the products or services of the Company or its Affiliates, except that, if a
Participant’s particular employment responsibilities for the Company or its
Affiliates are limited solely to the Company’s telecommunications wire or cable
products business or solely to the Company’s magnet wire business, the
definition of Competitive Business shall be deemed to apply only to that
portion of the business with which the Participant is affiliated.

 

1.15.        “Confidential Information” with respect to any Participant has the meaning assigned such term (or
a substantively similar term or concept in the context of restrictive
covenants) in any employment or change in control agreement between such
Participant and the Company.  In the
absence of any such agreement, “Confidential Information” means any non-public,
proprietary or confidential information, including without limitation trade
secrets, know-how, research and development, software, databases, inventions,
processes, formulae, technology, designs and other intellectual property,
information concerning finances, investments, profits, 

 

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pricing, costs, products,
services, vendors, customers, clients, partners, investors, personnel,
compensation, recruiting, training, advertising, sales, marketing, promotions,
government and regulatory activities and approvals concerning the past, current
or future business, activities and operations of the Company or Affiliates
and/or any third party that has disclosed or provided any of same to the
Company or its Affiliates on a confidential basis without the prior written
authorization of the Board.  “Confidential Information” shall not include
any information that is (a) generally known to the industry or the public
other than as a result of the Participant’s breach of this covenant or any
breach of other confidentiality obligations by third parties; (b) made
legitimately available to the Participant by a third party without breach of
any confidentiality obligation; or (c) required by law to be disclosed;
provided, however, that the Participant shall give prompt written notice to the
Company of such requirement, disclose no more information than is so required,
and cooperate (at the Company’s expense) with any attempts by the Company to
obtain a protective order or similar treatment.

 

1.16.        “Credited Service” means a Participant’s period (or periods) of employment with the
Company or one of its Affiliates, plus any period specified in Appendix A with
respect to a Participant.  Credited Service shall not include (a) any
periods of employment with the Company or one of its Affiliates (or any of
their respective predecessors) prior to November 10, 2003, except that if
a Participant was employed by the Company or an Affiliate during the entire
period beginning on November 10, 2003 and ending on November 30,
2003, such Participant shall receive one full month of credited service for
such period of service or (b) any periods of Disability.  No more
than 30 years of Credited Service shall be taken into account for any purpose
under the Plan. Credited Service shall be computed in years and full
months.  In the event a Participant is rehired, the Committee shall
determine, in its sole discretion, the method of calculating Credited Service,
taking into account any Retirement Benefit previously paid to the Participant.

 

1.17.        “Deferred Retirement Date” means the first day of the month coincident with or next following the
Participant’s Termination of Employment after the Participant’s Normal
Retirement Date.  Notwithstanding any other provision to the contrary, a
Participant must have a vested interest prior to receiving a Retirement
Benefit.

 

1.18.        “Early Retirement Date” means  the first day of the
month coincident with or next following the Participant’s attainment of age 55 (“Early Retirement Age”) and
completion of 5 years of Credited Service. 
Notwithstanding any other provision to the contrary, a Participant must
have a vested interest prior to receiving a Retirement Benefit.

 

1.19.        “Early Retirement Reduction
Factor” means, except as provided in Appendix A,  5% for each year (or portion of a year), if
any, by which (a) (i) the first day of the month coincident with or
next following a Participant’s Permanent and Total Disability or (ii) the
first day of the month coincident with or next following the a Participant’s Termination
of Employment, as the case may be, (b) precedes his or her Normal
Retirement Date. Notwithstanding the foregoing, the Early Retirement Reduction
Factor shall in no event produce a benefit that is less than the Normal
Retirement Benefit reduced by the Actuarial Equivalent Factor.

 

1.20.        “Effective Date” means April 1, 2008.

 

1.21.        “ERISA” means the Employee Retirement Income Security Act of 1974, as
amended.  Any reference to any section of ERISA shall also be a reference
to any successor provision and any Department of Labor Regulation promulgated
thereunder.

 

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1.22         “Final Average Compensation” means the annual average of a Participant’s Compensation earned while
designated as a Participant in the Plan, with respect to any three full calendar
years worked in the final five full calendar years of employment (or any lesser
number of full years of employment) with the Company or an Affiliate prior to
the Participant’s Termination of Employment which yields the highest
average.   Final Average
Compensation shall not include any amount earned for a partial year of
service.  Notwithstanding any other
provision of the Plan to the contrary, Final Average Compensation shall not
include any amounts received from the Company or one of its Affiliates (or any
of their respective predecessors) prior to November 10, 2003.

 

1.23.        “Normal Retirement Date” means  the first day of the
month coincident with or next following the date on which a Participant attains
age 62 (“Normal Retirement Age”).  Notwithstanding any other provision to the contrary, a
Participant must have a vested interest prior to receiving a Retirement
Benefit.

 

1.24.        “Original Effective Date” means November 10,
2003.

 

1.25.        “Participant” means (a) the persons specified in Appendix B and any other Chief
Executive Officer, Executive Vice-President or Senior Vice-President of the
Company or one of its Affiliates selected by the Committee in its sole
discretion and designated in writing as a Participant; and (b) any former
employees of the Company or one of its Affiliates that is entitled to a
Retirement Benefit under the Plan.

 

1.26.        “Participation Service” means a
Participant’s period (or periods) of Credited Service during which the person
is a Participant hereunder.

 

1.27.        “Permanent and Total
Disability” means either of the following with respect to a
Participant:

 

(A) The Participant is
unable to engage in any substantial gainful activity by reason of any medically
determinable physical or mental impairment that can be expected to result in
death or can be expected to last for a continuous period of not less than 12
months; or

 

(B) The Participant is,
by reason of a medically determinable physical or mental impairment that can be
expected to result in death or can be expected to last for a continuous period
of not less than 12 months, receiving income replacement benefits for a
period of not less than three months under an accident and health plan covering
employees of the Company or one of its Affiliates.

 

In either case, the date of
a Participant’s Permanent and Total Disability shall be as determined and
designated by the Committee.

 

1.28.        “Plan” means the Amended and Restated Superior
Essex Inc. Senior Executive Retirement Plan, as set forth herein and as amended
from time to time.

 

1.29.        “Restricted Territory” with respect to any Participant has the meaning assigned such term (or
a substantively similar term or concept in the context of restrictive
covenants) in any employment or change in control agreement between such
Participant and the Company.  In the
absence of any such agreement, “Restricted Territory” means, with respect to
any Participant, all geographical areas within a 100 mile radius of each
facility from which or with respect to 

 

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which, as of the date the Participant
becomes a Participant in the Plan: (a) the Company or its Affiliates
manufacture or distribute wire and cable products; and (b) the Participant
has responsibility for representing the Company or its Affiliates.  The
Parties acknowledge and agree that certain senior executive officers of the
Company, including, without limitation, the Tier 1 Executives and “corporate”
Participants who are employed by the Company rather than its Affiliates, can
reasonably be assumed to be “representing” the Company or its Affiliates
anywhere the Company or the Affiliates are doing business.  Thus, the
foregoing restricted territory is intended to reflect an attempt by the Company
to choose a relatively narrow territory that provides the Company with some
protection from competition from its former key executives and yet does not
unreasonably restrain the former employee from engaging in a competing
business.

 

1.30.        “Retirement Benefit” means any benefit payable under the Plan.  A Participant’s
Retirement Benefit under the Plan shall be calculated as a single life annuity
commencing at the Participant’s Normal Retirement Age and then converted into
the form for payment specified by the Plan or elected by the Participant, which
shall have the same Actuarial Equivalent value based on the Actuarial
Equivalent Factor.  Notwithstanding any other provision to the contrary, a
Participant must have a vested interest prior to receiving a Retirement
Benefit.

 

1.31.        “Termination of Employment”  means a Participant’s “separation
from service” (within the meaning of Section 409A of the Code, without
giving effect to any elective provisions that may be available under such
definition) with the Company and its Affiliates
for any reason.

 

Article II.

Participation

 

2.1.          Participation.  Only Participants designated by the Committee in writing shall participate
in the Plan.

 

2.2.          Continuation of
Participation.

 

(a)           Subject
to the provisions of Article XII, a person who has become a Participant in
accordance with Section 2.1 shall, except as provided in (b) below,
continue as a Participant as long as he or she continues in the employment of
the Company or one of its Affiliates and thereafter as long as he is entitled
to benefits under the Plan.

 

(b)           If an
employee no longer meets the requirements to be a Participant (e.g., ceases to
be the Chief Executive Officer, an Executive Vice-President or Senior
Vice-President of the Company or one of its Affiliates), he or she shall no
longer be eligible to participate in the Plan but shall continue to be a
Participant until his or her Retirement Benefits (if any) have been fully paid;
provided that: (a) the individual shall not accrue additional Retirement
Benefits under the Plan, (b) for purposes of calculating a Participant’s
Retirement Benefit, the Participant’s Credited Service and Final Average
Compensation shall be determined as if the date that the employee no longer met
the requirements to be a Participant was the date of his or her Termination of
Employment, (c) for purposes of Section 5.1(a), the individual shall
cease to accrue additional years of Participation Service, and (d) commencement
of Retirement Benefits shall not be accelerated by the person’s ceasing to meet
the requirements to be a Participant, but rather shall commence at the normal
time.

 

6

 

(c)           After a
Participant commences to receive Retirement Benefits in accordance with Article IV,
the Committee may cease payment of benefits under the Plan if the Committee
determines, in its sole reasonable discretion, that the Participant is in
violation of the restrictions set forth in Section 2.3.

 

2.3.          Restrictive Covenants.  In consideration of and as a condition of the receipt of any
Retirement Benefits by any Participant, the Participant agrees to the following
provisions:

 

(a)           If a
Participant is a party to an employment agreement, change in control agreement,
or other agreement with the Company that contains non-competition,
non-solicitation and/or confidentiality covenants, such restrictive covenants
shall be deemed incorporated herein by reference in lieu of Sections 2.3(b), (c) and
(d) hereof, as the case may be, for the shorter of (i) the applicable
period of such other restrictive covenants or (ii) 18 months following the
Participant’s Termination of Employment. 
If no other such covenants apply or to the extent they apply for less
than 18 months following the Participant’s Termination of Employment, then the
provisions of Section 2.3(b), (c) and (d) apply.

 

(b)           So long
as a Participant is employed by the Company or any of its Affiliates and for a
period of 18 months following the Participant’s Termination of Employment for
any reason (the “Restricted Period”), the Participant will not, whether on the
Participant’s own behalf or on behalf of or in conjunction with any person,
firm, partnership, joint venture, association, corporation or other business
organization, entity or enterprise whatsoever (“Person”), including, without
limitation a Competitive Business, directly or indirectly solicit or assist in
soliciting a Company Client for the purpose of providing or having that Company
Client provided with products or services directly competitive with or directly
substitutable for products or services of the Company or any Affiliate;
provided that after the effective date of Participant’s Termination of
Employment the foregoing covenant shall be limited to Company Clients:

 

(i)            with whom the Participant had personal contact or dealings
on behalf of the Company or any of its Affiliates during the one year period
preceding the Participant’s Termination of Employment;

 

(ii)           with whom employees reporting to the Participant have had
personal contact or dealings on behalf of the Company or its Affiliates during
the one year period immediately preceding the Participant’s Termination of
Employment; or

 

(iii)          for whom the Participant had direct responsibility or
direct access to and knowledge of sensitive client information during the
one-year period immediately preceding the Participant’s Termination of Employment.

 

(c)           During
the Restricted Period, the Participant will not own an equity interest in or
provide services or funding to or affiliate with any Competitive Business
within the Restricted Territory; provided, however, that during the 18 months
following the Participant’s Termination of Employment for any reason, this
restriction shall apply only where Participant’s services for or affiliation
with the competing entity are substantially similar to the services that
Participant provided to the Company or its Affiliates or the capacity in which
Participant served with the Company or its Affiliates as of the date the
Participant became a Participant in the Plan.

 

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Notwithstanding
the foregoing, nothing herein shall prevent the Participant from owning up to
but not more than a 2% interest in the shares or other equity interest of any
Competitive Business in the United States whose shares are publicly traded or
listed on a national exchange.

 

(d)           During
the Restricted Period, the Participant will not, whether on the Participant’s
own behalf or on behalf of or in conjunction with any Person, directly or
indirectly solicit or encourage any employee, consultant or other personnel or
contractor of the Company or any of its Affiliates with whom the Participant
had material contact during the 18 month period immediately prior to the
Participant’s Termination of Employment to terminate or sever that party’s
relationship or affiliation with the Company or any of its Affiliates.

 

(e)           The
Participant will not at any time (whether during or after the Participant’s
employment with the Company or any of its Affiliates) (i) retain or use
for the benefit, purposes or account of the Participant or any other Person, or
(ii) disclose, divulge, reveal, communicate, share, transfer or provide
access to any Person outside the Company or its Affiliates (other than its
professional advisers who are bound by confidentiality obligations), any
Confidential Information.  Upon termination of the Participant’s
employment with the Company for any reason, the Participant shall: (x) cease
and not thereafter commence use of any Confidential Information or intellectual
property (including without limitation, any patent, invention, copyright, trade
secret, trademark, trade name, logo, domain name or other source indicator)
owned or used by the Company or its Affiliates; (y) immediately destroy,
delete, or return to the Company, at the Company’s option, all originals and
copies in any form or medium (including memoranda, books, papers, plans,
computer files, letters and other data) in the Participant’s possession or
control (including any of the foregoing stored or located in the Participant’s
office, home, laptop or other computer, whether or not Company property) that
contain Confidential Information or otherwise relate to the business of the
Company, its Affiliates, except that the Participant may retain only those
portions of any personal notes, notebooks and diaries that do not contain any
Confidential Information; and (z) notify and fully cooperate with the
Company (at the Company’s expense) regarding the delivery or destruction of any
other Confidential Information of which the Participant is or becomes
aware.  Notwithstanding the foregoing, the non-disclosure and non-use
covenants in this paragraph shall cease to apply three years after the
Participant’s Termination of Employment with respect to any Confidential
Information that does not meet the definition of “trade secret” under Georgia
law.

 

(f)            Although the Participant and the Company
consider the restrictions contained in this Section 2.3 to be reasonable,
if a final judicial determination is made by a court of competent jurisdiction
that the time or territory or any other restriction contained in this Section 2.3
is an unenforceable restriction against the Participant, the provisions of this
Section 2.3 shall not be rendered void but shall be deemed amended to
apply as to such maximum time and territory and to such maximum extent as such
court may judicially determine or indicate to be enforceable, and the parties
authorize any court reaching a determination that the covenants are
unenforceable to partially enforce or “blue pencil” those covenants so that
they are enforced to an extent that complies with applicable law. 
Alternatively, if any court of competent jurisdiction finds that any
restriction contained in this Section 2.3 is unenforceable, and such
restriction cannot be amended so as to make it enforceable, such finding shall
not affect the enforceability of 

 

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any of the
other restrictions contained herein.  If a material change in the nature
of the Participant’s employment responsibilities or the Company’s business
renders any parameter of the non-competition or non-solicitation covenants
unreasonable or inexact, then the
parties agree to amend the covenants to make them conform to the changed nature
of the employment duties or the Company’s business.

 

(g)           Since the
Company’s remedies at law for a breach or threatened breach of any of the
provisions of Section 2.3 would be inadequate and the Company would suffer
irreparable damages as a result of such breach or threatened breach, in the
event of such a breach or threatened breach, in addition to any remedies at
law, the Company, without posting any bond, shall be entitled to cease making
any payments or providing any benefit otherwise required by the Plan and obtain
equitable relief in the form of specific performance, temporary restraining
order, temporary or permanent injunction or any other equitable remedy which
may then be available.

 

(h)           The
obligations contained in this Section 2.3 will survive the Participant’s
Termination of Employment and will be fully enforceable thereafter.

 

Article III.

Retirement Date

 

Subject to the provisions of Articles V and X and the Company’s right
to terminate benefits or to forfeit benefits in accordance with the provisions
of Section 2.2(c) or 5.2:

 

3.1.          Normal Retirement Date.  A Participant who retires on his or her Normal Retirement Date
shall be entitled to a Retirement Benefit as determined in accordance with Section 4.1.

 

3.2.          Deferred Retirement Date.  A Participant whose employment with the Company or one of its
Affiliates continues beyond his or her Normal Retirement Date shall retire on a
Deferred Retirement Date and shall be entitled to a Retirement Benefit in
accordance with Section 4.2.

 

3.3.          Early Retirement Date.  A Participant who terminates employment before his or her Normal
Retirement Date shall be entitled to a Retirement Benefit as determined under Section 4.3.

 

Article IV.

Retirement Benefits;
Benefits Upon Death, Disability or Change in Control

 

4.1.          Normal Retirement Benefit.  Subject to any adjustments required by Appendix A, the annual
amount of the Retirement Benefit for a Participant retiring on his or her
Normal Retirement Date shall be equal to the Benefit Percentage multiplied by
the Participant’s Final Average Compensation multiplied by the Participant’s
years of Credited Service, each determined as of the date of the Participant’s
Termination of Employment.

 

4.2.          Deferred Retirement Benefit.  If a Participant remains in employment after his or her Normal
Retirement Date and is entitled to a Retirement Benefit in accordance with Section 3.2,
benefit payments shall be postponed until the Participant’s Deferred Retirement
Date.  At such Deferred Retirement Date, the Participant shall be entitled
to the benefit computed under 

 

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Section 4.1 based on his
or her Final Average Compensation and Credited Service, each determined as of the
Deferred Retirement Date, with no actuarial adjustment for such deferred
payment.

 

4.3.          Early Retirement Benefit.  A Participant whose Termination of Employment occurs prior to
his or her Normal Retirement Date, as provided in Section 3.3, shall be
entitled to receive a Retirement Benefit, commencing on later of (i) the first
day of the month coincident with or next following the date of Termination of Employment
or (ii) the Early Retirement Date , equal to the amount computed under Section 4.1
based on his or her Final Average Compensation and Credited Service, each
determined as of the date of the Participant’s Termination of Employment, and reduced
by the Early Retirement Reduction Factor for each year (or portion of a year)
by which such Early Retirement Date precedes his or her Normal Retirement Date.

 

4.4           Change in
Control. 
A Participant whose Termination of Employment occurs, for any reason
other than death or Permanent and Total Disability, within two (2) years
after a Change in Control shall be entitled to receive a Retirement Benefit
commencing as of first day of the month coincident with or next following such
Termination of Employment, equal to the amount computed under Section 4.1
based on his or her Final Average Compensation and Credited Service, each
determined as of the date of the Participant’s Termination of Employment, and
reduced by the Early Retirement Reduction Factor for each year (or portion of a
year) by which such payment precedes the Participant’s Normal Retirement Date.

 

4.5.          Death.  In the event of a Participant’s death prior to the commencement
of Retirement Benefits, whether or not the Participant was employed by the
Company or its Affiliates at the date of death, the Participant’s Beneficiary
shall be entitled to receive an amount equal to the Participant’s Retirement
Benefit, commencing as of the date of death, equal to the amount computed under
Section 4.1 based on his or her Final Average Compensation and Credited
Service, each determined as of the date of the Participant’s Termination of
Employment, and reduced by the Early Retirement Reduction Factor for each year
(or portion of a year) by which such payment precedes the Participant’s Normal
Retirement Date.

 

4.6.          Permanent
and Total Disability. In the event of a
Participant’s Permanent and Total Disability, the Participant shall be entitled
to receive a Retirement Benefit, commencing as of the date of Permanent and
Total Disability, equal to the amount computed under Section 4.1 based on
his or her Final Average Compensation and Credited Service, each determined as
of the date of the Participant’s Permanent and Total Disability,
and reduced by the Early Retirement Reduction Factor for each year (or portion
of a year) by which such payment precedes the Participant’s Normal Retirement
Date. In the event a Participant receives a Retirement Benefit under this Section 4.6,
he or she shall cease to be a Participant in the Plan immediately following the
receipt of such lump sum payment.

 

4.7           Standard Time
and Form of Payment of Retirement Benefits.  Unless
the Participant elects otherwise under Article VII, the Retirement Benefit
computed under Section 4.1 (Normal Retirement Benefit), Section 4.2
(Deferred Retirement Benefit), 4.3 (Early Retirement Benefit), 4.4 (Change in
Control), Section 4.5 (Death), or Section 4.6 (Permanent and Total
Disability), as the case may be, shall be converted into a single lump sum
payment which shall have the same Actuarial Equivalent value (based on the
Actuarial Equivalent Factor) as the applicable Retirement Benefit.  Subject to any delay in payment required by Section 7.3,
such Retirement Benefit shall be payable within 75 days following the Participant’s
Termination of Employment, except (i) in the case of Termination of
Employment pursuant to Section 4.3 prior to the Participant’s Early
Retirement Date, in which case the such amount shall be paid on the 

 

10

 

Early Retirement Date, and (ii) in
the case of Permanent and Total Disability pursuant to Section 4.6, in
which case the such amount shall be payable within 75 days following the
Participant’s Permanent and Total Disability.

 

Article V.

Vesting

 

5.1.          Vesting of Interest of
Participant in Trust Fund.  A
Participant’s rights under the Plan to any Retirement Benefit shall be fully
vested and nonforfeitable, except as provided in Section 5.2, solely upon
the earliest of the following to occur:

 

(a)           completion
of four full and consecutive years of Participation Service;

 

(b)           the
occurrence of a Change in Control;

 

(c)           the
termination of the Plan as provided in Article X;

 

(d)           the
Participant’s death; or

 

(e)           the
Participant’s Permanent and Total Disability while an employee of the Company
or one of its Affiliates.

 

5.2.          Forfeiture.  If a Termination of Employment occurs with respect to a
Participant prior to becoming vested in the Retirement Benefit, the Participant’s
right under the Plan to a Retirement Benefit is terminated. 
Notwithstanding the provisions of Section 5.1, a Participant shall not
have any right to a Retirement Benefit in the event the Participant’s
Termination of Employment is for Cause or if the Participant violates the
provisions of Section 2.3. The Committee may waive the forfeiture of a
Retirement Benefit, in whole or in part, in the event the Participant’s
Termination of Employment is for Cause or if a Participant violates the
provisions of Section 2.3.

 

Article VI.

Termination of Employment

 

6.1.          Termination Prior to Vesting.  If a Participant’s Termination of Employment occurs for any
reason before the Participant has a vested interest in a Retirement Benefit, no
Retirement Benefit shall become payable to such Participant under the Plan.

 

Article VII.

Elections Regarding Time and
Form of Payment of Retirement Benefit

 

7.1.          Change
in Form of Payment.  A
Participant may elect, in lieu of the standard form of payment set forth in Section 4.7
and in accordance with the provisions of Section 7.2, to receive the
Retirement Benefit in one of the following forms of payment (each of which
shall have the same Actuarial Equivalent value based on the Actuarial
Equivalent Factor):

 

(a)           a joint
and 50% survivor annuity (equal monthly payments for the Participant’s lifetime
and, in the event of the Participant’s death, 50% of the amount payable to the
Participant will be payable to the Participant’s Beneficiary for his or her
lifetime if the Participant’s Beneficiary survives the Participant);

 

11

 

(b)           a single
life annuity (equal monthly payments for the Participant’s lifetime);

 

(c)           a life
annuity with a 10-year period certain (equal monthly payments for the
Participant’s lifetime with payments to the Participant’s beneficiary for the
remainder of the 10-year period certain in the event of the Participant’s death
prior to the end of the period certain);

 

7.2.          Timing of Elections to
Change Form of Payment.  Within 30 days after an individual first
becomes a Participant, he or she shall have the right to elect, on a form
prescribed by the Committee, the form of payment in which his or her Retirement
Benefit will be paid.  A Participant may supersede  such an election at any time by filing a subsequent election with the Committee at least one year prior to the
Participant’s Termination of Employment; provided that if it is later
determined that such subsequent election occurred within one year prior to the
Participant’s Termination of Employment, then such subsequent election shall
not be effective and the Participant’s prior election shall govern. Any such
subsequent election must defer the commencement of the Retirement Benefit for a
period of at least five (5) years from the date that such payment would
have otherwise commenced.  A Participant
who does not make an election, or whose election is not effective, shall
receive his or her benefits in the distribution form and at the time described
in Section 4.7.  Special timing of
election provisions with respect to Participants in the Plan prior to the
Effective Date are set forth in Appendix A.

 

7.3           Delay in
Benefit Payments for Specified Employees.  Notwithstanding
anything in the Plan to the contrary, any amount or benefit that is
distributable under this Plan by reason of a Participant’s Termination of
Employment during a period in which the Participant is a Specified Employee (as
defined below) shall be subject to a delay in payment as set forth below,
subject to any permissible acceleration of payment by the Committee under
Treas. Reg. Section 1.409A-3(j)(4)(ii) (domestic relations order),
(j)(4)(iii) (conflicts of interest), or (j)(4)(vi) (payment of
employment taxes):

 

(i) if
the payment or distribution is payable in a lump sum, the Participant’s right
to receive payment or distribution of such non-exempt deferred compensation
will be delayed until the earlier of the Participant’s death or the first day
of the seventh month following the Participant’s Termination of Employment; and

 

(ii) if
the distribution is payable as an annuity, the amount of such payment that
would otherwise be payable during the six-month period immediately following
the Participant’s Termination of Employment will be accumulated and the
Participant’s right to receive payment of such accumulated amount will be
delayed until the earlier of the Participant’s death or the first day of the
seventh month following the Participant’s Termination of Employment, whereupon
the accumulated amount will be paid or distributed to the Participant and the
normal payment schedule for any remaining payments or distributions will resume.

 

For purposes of this Plan, the term “Specified
Employee” has the meaning given such term in Code Section 409A and the
final regulations thereunder, provided, however,
that, as permitted in such final regulations, the Company’s Specified Employees
and its application of the six-month delay rule of Code Section 409A(a)(2)(B)(i) shall
be determined in accordance with rules adopted by the Board or a committee
of the Board, which shall be applied consistently with 

 

12

 

respect to all nonqualified
deferred compensation arrangements of the Company, including this Plan.

 

Article VIII.

Funding

 

The Plan shall be funded out of the general assets of the Company as
and when benefits are payable under the Plan.  All Participants shall be
solely unsecured creditors of the Company and, if a bankruptcy proceeding of
the Company is pending, the Participants shall be solely unsecured creditors of
the Company with administrative priority.  If the Company decides in its
sole discretion to establish any advance accrued reserve on its books against
the future expense of benefits payable hereunder, or if the Company decides in
its sole discretion to fund a trust under the Plan, such reserve or trust shall
not under any circumstances be deemed to be an asset of the Plan.

 

Article IX.

Administration of the Plan

 

9.1.          Plan Administrator.  The general administration of the Plan on behalf of the Company
(as plan administrator under Section 3(16)(A) of ERISA) shall be
placed with the Committee.

 

9.2.          Reimbursement of Expenses of
Plan Committee.  The Company shall
pay or reimburse the members of the Committee for all reasonable expenses
incurred in connection with their duties hereunder.

 

9.3.          Action by the Plan Committee.  Subject to the terms of the Plan and provided that the Committee
acts in good faith, the Committee shall have the authority to determine a
Participant’s participation and benefits under the Plan and to interpret and
construe the provisions of the Plan.

 

9.4.          Retention of Professional
Assistance.  The Committee may
employ such legal counsel, accountants and other persons as may be required in
carrying out its work in connection with the Plan.

 

9.5.          Accounts and Records.  The Committee shall maintain such accounts and records regarding
the fiscal and other transactions of the Plan and such other data as may be
required to carry out its functions under the Plan and to comply with all
applicable laws.

 

9.6.          Claims/Disputes Procedure.

 

(a)           Any claim
by a Participant or beneficiary (“Claimant”) with respect to eligibility,
participation, contributions, benefits or other aspects of the operation of the
Plan shall be made in writing to the Committee. The Committee shall provide the
Claimant with the necessary forms and make all determinations as to the right
of any person to a disputed benefit.  If a Claimant is denied benefits
under the Plan, the Committee or its designee shall notify the Claimant in writing
of the denial of the claim within 90 days (such period may be extended to 180
days) after the Plan receives the claim, provided that in the event of special
circumstances such period may be extended.

 

13

 

(b)           If the
initial 90 day period is extended, the Committee or its designee shall, within
90 days of receipt of the claim, notify the Claimant in writing of such
extension.  The written notice of extension will indicate the special circumstances
requiring the extension of time and provide the date by which the Committee
expects to make a determination with respect to the claim.  If the
extension is required due to the Claimant’s failure to submit information
necessary to decide the claim, the period for making the determination will be
tolled from the date on which the extension notice is sent to the Claimant
until the earlier of (i) the date on which the Claimant responds to the
Plan’s request for information or (ii) expiration of the 45 day period commencing
on the date that the Claimant is notified that the requested additional
information must be provided.  If notice of the denial of a claim is not
furnished within the required time period described herein, the claim shall be
deemed denied as of the last day of such period.

 

(c)           If the
claim is wholly or partially denied, the notice to the Claimant shall set
forth:

 

(i)            the specific reason or reasons for the denial;

 

(ii)           specific reference to pertinent Plan provisions upon which
the denial is 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;

 

(iv)          appropriate information as to the steps to be taken and the
applicable time limits if the Claimant wishes to submit the adverse
determination for review; and

 

(v)           a statement of the Claimant’s right to bring a civil action
under Section 502(a) of ERISA following an adverse determination on
review (collectively, the “Notice Requirements”).

 

(d)           If the
claim has been denied, the Claimant may submit the claim for review.  Any
request for review of a claim must be made in writing to the Committee no later
than 60 days after the Claimant receives notification of denial or, if no notification
was provided, the date the claim is deemed denied.  The claim will then be
reviewed by the Committee.  The Claimant or his duly authorized
representative may:

 

(i)            upon request and free of charge, be provided with access
to, and copies of, relevant documents, records, and other information relevant
to the Claimant’s claim; and

 

(ii)           submit written comments, documents, records, and other
information relating to the claim.  The review of the claim determination
shall take into account all comments, documents, records, and other information
submitted by the Claimant relating to the claim, without regard to whether such
information was submitted or considered in the initial claim determination.

 

14

 

(e)           The
decision of the Committee shall be made within 60 days (such period may be
extended to 120 days)  after receipt of the Claimant’s request for review,
unless special circumstances require an extension.

 

(f)            If the
initial 60 day period is extended, the Committee or its designee shall, within
60 days of receipt of the claim, notify the Claimant in writing of such
extension.  The written notice of extension will indicate the special circumstances
requiring the extension of time and provide the date by which the Committee
expects to make a determination with respect to the claim.  If the
extension is required due to the Claimant’s failure to submit information
necessary to decide the claim, the period for making the determination will be
tolled from the date on which the extension notice is sent to the Claimant
until the earlier of (i) the date on which the Claimant responds to the
Plan’s request for information or (ii) expiration of the 45 day period
commencing on the date that the Claimant is notified that the requested
additional information must be provided. If notice of the denial of a claim is
not furnished within the required time period described herein, the claim shall
be deemed denied as of the last day of such period.

 

(g)           If an
extension of time is required, the Claimant shall be notified in writing of
such extension.  The written notice of extension will indicate the special
circumstances requiring the extension of time and the date by which the
Committee expects to make a determination with respect to the claim.  If
the extension is required due to the Claimant’s failure to submit information
necessary to decide the claim on review, the period for making the
determination will be tolled from the date on which the extension notice is
sent to the Claimant until the earlier of (i) the date on which the
Claimant responds to the Plan’s request for information or (ii) expiration
of the 45-day period commencing on the date that the Claimant is notified that
the requested additional information must be provided.  In any event, a
decision shall be rendered not later than 120 days after receipt of the request
for review.  If notice of the decision upon review is not furnished within
the required time period described herein, the claim on review shall be deemed
denied as of the last day of such period.

 

(h)           The
Committee’s decision on the Claimant’s claim for review will be communicated to
the Claimant in writing.  If the claim on review is denied, the notice to
the Claimant shall provide a statement that the Claimant is entitled to
receive, upon request and free of charge, reasonable access to, and copies of,
all documents, records and other information relevant to the claim, and also
set forth the Notice Requirements (other than subsection (c)(iv)).

 

(i)            The claims
procedures set forth in this section are intended to comply with U.S.
Department of Labor Regulation § 2560.503-1 and should be construed in
accordance with such regulation.  In no event shall it be interpreted as
expanding the rights of Claimants beyond what is required by U.S. Dept. of
Labor § 2560.503-1.

 

(j)            A
Claimant shall not be required to exhaust all administrative remedies under
this Section 9.6 prior to commencing any action in Federal court.

 

9.7.          Indemnification.  The Committee and its members shall not be liable for any action
or determination made in good faith with respect to the Plan.  The Company
shall, to the extent permitted by law, by the purchase of insurance or
otherwise, indemnify and hold harmless each member of the Committee and each
director, officer and employee of the Company for 

 

15

 

liabilities or expenses they
and each of them incur in carrying out their respective duties under the Plan,
other than for any liabilities or expenses arising out of such individual’s
willful misconduct or fraud.

 

Article X.

Amendment and Termination

 

The Company reserves the right to amend, freeze or terminate, in whole
or in part, any or all of the provisions of the Plan at any time, retroactively
or otherwise; provided, however, that no amendment or termination shall (i) affect
the provisions of Appendix A, or (ii) reduce the amount of the Retirement
Benefit being paid to any Participant or Beneficiary as of the date of
amendment or termination or, for any active Participant with a vested interest
on such date, the amount of the Retirement Benefit otherwise payable based on
the Participant’s Credited Service and compensation to the date of the
amendment, freezing or termination, unless such Participant consents to such
amendment or termination.  Without limiting the generality of the
foregoing, the Company may amend the Plan at any time, retroactively or
otherwise, without the Participant’s consent to such amendments, as may be
necessary to preserve the intended tax-deferred characteristics of the
Plan.  The Company’s right to amend or terminate the Plan pursuant to this
Article X shall not affect any Participant’s right to a supplemental
retirement benefit under any employment or similar agreement between the
Company and a Participant or to enforce such Participant’s rights under such
employment or similar agreement.

 

In the event of a termination of the Plan, (i) a Participant’s
rights under the Plan to any Retirement Benefit shall be fully vested and
nonforfeitable and (ii) a lump sum payment equal to 100% of the Retirement
Benefit calculated as if the Participant had a Termination of Employment as of
the date of termination of the Plan, reduced by the Early Retirement Reduction
Factor for each year (or portion of a year) by which such payment precedes the
Participant’s Normal Retirement Date, shall be distributed within 75 days following
the first day of the month coincident
with or next following such termination or in accordance with the
Participant’s elections pursuant to Section 7.1 and 7.2, as determined by
the Committee, in its sole discretion. 
Notwithstanding the foregoing, any plan termination shall be effected in
a manner that permits payments upon such plan termination to meet an exception
to the prohibition on acceleration as set forth in Treas. Regulations Section 1.409A-3(j)(4).

 

Article XI.

Successors

 

For purposes of the Plan, the Company shall include any and all
successors and assignees, whether direct or indirect, by purchase, merger,
consolidation or otherwise, to all or substantially all the business or assets
of the Company and such successors and assignees shall perform the Company’s
obligations under the Plan, in the same manner and to the same extent that the
Company would be required to perform if no such succession or assignment had
taken place.  In such event, the term “Company”, as used in the Plan,
shall mean the Company, as hereinbefore defined and any successor or assignee
to the business or assets which by reason hereof becomes bound by the terms and
provisions of the Plan.

 

Article XII.

Miscellaneous

 

12.1.        Rights of Participants.  Nothing herein contained shall be held or construed to create
any liability or obligation upon the Company or any of its Affiliates to retain
any 

 

16

 

Participant in its service.  All Participants shall
remain subject to discharge or discipline to the same extent as if the Plan had
not been put into effect.

 

12.2.        Governing Law.  The Plan is intended to be a “top hat” pension benefit plan
within the meaning of U.S. Department of Labor Regulation Section 2520.104-24. 
To the extent legally required, the Code and ERISA shall govern the Plan and,
if any provision hereof is in violation of any applicable requirement thereof,
the Company reserves the right to retroactively amend the Plan to comply
therewith.  To the extent not governed by the Code and ERISA, the Plan
shall be governed by the laws of the State of Georgia (without reference to rules relating
to conflicts of law).

 

12.3.        Withholding.  The Company and its Affiliates shall have the right to make such
provisions as it deems necessary or appropriate to satisfy any obligations it
may have to withhold federal, state or local income or other taxes incurred by
reason of payments pursuant to the Plan.

 

12.4.        Severability.  In case any provision of the Plan be deemed or held to be
unlawful or invalid for any reason, such fact shall not adversely affect the
other provisions of the Plan unless such determination shall render impossible
or impracticable the functioning of the Plan, and in such case, an appropriate
provision or provisions shall be adopted so that the Plan may continue to
function properly.

 

12.5.        Assignment and Alienation.  The benefits payable to the Participant under the Plan shall not
be subject to alienation, transfer, assignment, garnishment, execution or levy
of any kind and any attempt to cause any benefits to be so subjected shall not
be recognized.

 

12.6.        Communications.  All announcements, notices and other communications regarding
the Plan will be made by the Company in writing.

 

17

 

Appendix A

 

Special
Provisions

 

Participants
Prior to the Effective Date

 

This
Appendix A sets forth special plan provisions with respect to certain
Participants covered by the Plan prior to January 1, 2009.

 

“Benefit Percentage” – for purposes of calculating the
Retirement Benefit with respect to Credited Service prior to January 1,
2009, the “Benefit Percentage” referred to in Section 4.1 will be as
follows: (a) 2.0% in the case of Messrs. Aldridge, Deedy and Jack and
Ms. Blackford; and (b) 2.5% in the case of Mr. Carter.

 

“Credited Service” – For purposes of calculating the Retirement Benefit for Messrs. Carter,
Aldridge, Deedy and Jack under Section 4.1 of the Plan, such Participants shall
be treated as having accrued an additional five years of Credited Service after
completing five years of continuous service with the Company and its Affiliates
beginning on November 10, 2003 (i.e., a 10% accrual for year five
in addition to the 2% per year accrual in the case of Messrs. Aldridge,
Deedy and Jack, and 12.5% accrual for year five in the case of Mr. Carter).

 

“Early Retirement Reduction Factor” – in the case
of Messrs. Carter,
Aldridge, Deedy and Jack and Ms. Blackford, the
Early Retirement Reduction Factor shall be 3% for each year (or portion of a
year) by which (a) (i) the first day of the month coincident with or
next following such a Participant’s Permanent and Total Disability or (ii) the
first day of the month coincident with or next following his or her Termination
of Employment, as the case may be, (b) precedes his or her Normal
Retirement Date.  Notwithstanding the
foregoing, the Early Retirement Reduction Factor shall in no event produce a
benefit that is less than the Normal Retirement Benefit reduced by the
Actuarial Equivalent Factor.

 

Opportunity to Make New Elections With Respect to Form of Payment

 

Notwithstanding
the required deadline for the submission of an initial form-of-payment election
under Section 7.2, the Committee may, to the extent permitted by IRS
Notice 2007-86, provide a limited period in which a Participant may make
new form-of-payment elections with respect to his or her Retirement Benefit, by
submitting the election on a form prescribed by the Committee on or before the
deadline established by the Committee, which in no event shall be later than December 31,
2008. Any form-of-payment election made by a Participant, and accepted by the
Committee, in accordance with this Appendix A, shall not be treated as a
change in either the form or timing of a Participant’s benefit payment for
purposes of Code Section 409A or the Plan. If any form-of-payment election
submitted by a Participant in accordance with this Appendix A relates to
an amount that would otherwise be paid to the Participant in 2008 or would
cause an amount to be paid to the Participant in 2008, such election shall not
be effective.

 

 

Appendix B

 

List of Participants as of April 1, 2008

 

Stephen M. Carter

David S. Aldridge

Justin F. Deedy, Jr.

H. Patrick Jack

Barbara L. Blackford

J. David Reed

Debrah Baker-Oliver

David Cummings

Tracye C. Gilleland

Michael McIlwain

Mike McMillan

Terry Richards

Tim Waldner

Craig York

Mary Love Sullenberger

David R. Siegel

James V. CassellaExhibit 10.8

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

SUPERIOR ESSEX INC.

AMENDED AND RESTATED EXECUTIVE
BONUS PLAN

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

TABLE OF CONTENTS

 

	
  ARTICLE 1 

  	
   

  	
  ESTABLISHMENT OF PLAN

  	
   

  	
  1

  
	
  1.1

  	
   

  	
  Background

  	
   

  	
  1

  
	
  1.2

  	
   

  	
  Purpose

  	
   

  	
  1

  
	
  1.3

  	
   

  	
  Effective Date

  	
   

  	
  1

  
	
  ARTICLE 2 

  	
   

  	
  DEFINITIONS

  	
   

  	
  2

  
	
  2.1

  	
   

  	
  Definitions

  	
   

  	
  2

  
	
  ARTICLE 3 

  	
   

  	
  ADMINISTRATION

  	
   

  	
  4

  
	
  3.1

  	
   

  	
  Committee

  	
   

  	
  4

  
	
  3.2

  	
   

  	
  Authority of Committee

  	
   

  	
  4

  
	
  3.3

  	
   

  	
  Decisions Binding

  	
   

  	
  5

  
	
  ARTICLE 4 

  	
   

  	
  ELIGIBILITY

  	
   

  	
  5

  
	
  4.1

  	
   

  	
  Designation of Participants

  	
   

  	
  5

  
	
  4.2

  	
   

  	
  Partial Year Participation

  	
   

  	
  5

  
	
  4.3

  	
   

  	
  Demotions

  	
   

  	
  5

  
	
  ARTICLE 5 

  	
   

  	
  OPERATION OF THE PLAN

  	
   

  	
  6

  
	
  5.1

  	
   

  	
  Plan Structure

  	
   

  	
  6

  
	
  5.2

  	
   

  	
  Establishment of Target Bonuses

  	
   

  	
  6

  
	
  5.3

  	
   

  	
  Other Corporate Financial Objectives

  	
   

  	
  6

  
	
  5.4

  	
   

  	
  Business Unit Financial Objectives

  	
   

  	
  6

  
	
  5.5

  	
   

  	
  Threshold Performance Goal and Individual Award Limits

  	
   

  	
  7

  
	
  5.6

  	
   

  	
  Adjustment to Financial Objectives

  	
   

  	
  7

  
	
  5.7

  	
   

  	
  Payout Form and Timing

  	
   

  	
  8

  
	
  5.8

  	
   

  	
  Terminations of Employment

  	
   

  	
  8

  
	
  5.9

  	
   

  	
  Recoupment Policy

  	
   

  	
  8

  
	
  ARTICLE 6 

  	
   

  	
  AMENDMENT, MODIFICATION AND TERMINATION

  	
   

  	
  9

  
	
  6.1

  	
   

  	
  Amendment, Modification and Termination

  	
   

  	
  9

  
	
  6.2

  	
   

  	
  Termination After or During Plan Year

  	
   

  	
  9

  
	
  ARTICLE 7

  	
   

  	
  GENERAL PROVISIONS

  	
   

  	
  9

  
	
  7.1

  	
   

  	
  No Right to Participate

  	
   

  	
  9

  
	
  7.2

  	
   

  	
  No Right to Employment

  	
   

  	
  9

  
	
  7.3

  	
   

  	
  Withholding

  	
   

  	
  9

  
	
  7.4

  	
   

  	
  Funding

  	
   

  	
  9

  
	
  7.5

  	
   

  	
  Expenses

  	
   

  	
  10

  
	
  7.6

  	
   

  	
  Titles and Headings

  	
   

  	
  10

  
	
  7.7

  	
   

  	
  Gender and Number

  	
   

  	
  10

  
	
  7.8

  	
   

  	
  Governing Law

  	
   

  	
  10

  
	
  7.9

  	
   

  	
  Omnibus Plan Controls

  	
   

  	
  10

  

 

 

 

i

 

 

SUPERIOR ESSEX INC.

AMENDED AND RESTATED EXECUTIVE BONUS PLAN

 

ARTICLE 1

ESTABLISHMENT OF PLAN

 

                1.1           BACKGROUND.  This Amended and Restated Executive Bonus
Plan (the “Executive Bonus Plan” or the “Plan”) is a subplan of the Superior
Essex Inc. Amended and Restated 2005 Incentive Plan (“Omnibus Plan”),
consisting of a program for the grant of annual Performance-Based Cash Awards
under Article 9 of the Omnibus Plan. 
This Plan has been established and approved, and will be administered
by, the Committee pursuant to the terms of the Omnibus Plan, including without
limitation, Article 14 thereof.  It
is intended that the Performance Bonuses earned under this Plan shall be
Qualified Performance-Based Cash Awards with respect to Participants who are
Covered Employees, with the intent that the Performance Bonuses will be fully
deductible by the Company without regard to the limitations of Code Section 162(m).  The applicable Award limits of Section 5.4
of the Omnibus Plan shall apply with respect to this Plan.  As of the Effective Date, Section 5.4 of
the Omnibus Plan provides that the aggregate dollar value of any
Performance-Based Cash Award or other cash-based award that may be paid to any
one Participant during any one calendar year under the Omnibus Plan is
$3,000,000.

 

                1.2.          PURPOSE.  The
purpose of this Plan is to provide for the payment of a cash bonus to eligible
executives of the Company, the payment of which will be based on the
achievement of Performance Objectives during a Plan Year.  Business Unit and Corporate Financial
Objectives are designed to focus on overall Corporate or Business Unit
financial results that drive shareholder value. 
Unless otherwise specified by the Committee, the Performance Objectives
include Corporate Financial Objectives, Business Unit Financial Objectives (for
Business Unit executives) and the Threshold Earnings Performance.

 

                1.3.          EFFECTIVE DATE.  This Plan was originally adopted
in principle by the Committee on February 23, 2005, subject to approval as
to form by the Chair of the Committee and to approval by the stockholders of
the Omnibus Plan.  This Plan became
effective on May 3, 2005, the date the Omnibus Plan was approved by the
Company’s stockholders (the “Effective Date”). 
This Plan was amended and restated by the Committee on March 29,
2006, to be effective as of the beginning of Plan Year 2006, on February 15,
2007 to be effective as of the beginning of Plan Year 2007, and on March 19,
2008 to be effective as of the beginning of Plan Year 2008.

 

 

 

1

 

 

ARTICLE 2

DEFINITIONS

 

                2.1.          DEFINITIONS.  Capitalized terms used herein and not
otherwise defined shall have the meanings assigned to such terms in the Omnibus
Plan.  In addition, the following terms
shall have the following meanings for purposes of this Plan, unless the context
in which they are used clearly indicates that some other meaning is intended.

 

Adjusted
Business Unit Operating Income.  A non-GAAP financial measure for a Business
Unit for a given year, which is Adjusted EBITDA of such Business Unit as
reflected in the Company’s year-end earnings release, decreased by depreciation
and amortization.  Adjusted Business Unit
Operating Income does not reflect the internal allocation of management fees
among the consolidated group.

 

Adjusted
EBITDA.  A non-GAAP financial measure
for the Company or a Business Unit for a given year, as reflected in the
Company’s year-end earnings release, or if Adjusted EBITDA is no longer
reported, EBITDA.  Adjusted EBITDA is
generally operating income, increased by other income (exclusive of interest
income) and reduced by other expense and further adjusted as follows, without
duplication and only to the extent such item is included as a component of
operating income:

 

(1)          increased by depreciation
and amortization,

(2)          increased or reduced to
eliminate the effects of extraordinary items, within the meaning of GAAP,

(3)          increased or reduced to
eliminate the effects of accounting changes implemented during the Plan Year,

(4)          increased or reduced to
eliminate the impact of discontinued operations,

(5)          increased or reduced by
other charges that are considered to be non-recurring or special items, and

(6)          increased or reduced by
non-cash gains, losses, income or expenses, such as non-cash compensation
expense.

 

Adjusted
EPS.  A non-GAAP financial measure
for the Company for a given year, as reflected in the Company’s year-end
earnings release, or if Adjusted EPS is no longer reported, EPS.  Adjusted EPS is generally earnings per
diluted share of the Company  excluding the
after-tax impact of special items detailed in the earnings release, without
duplication.  Notwithstanding the
foregoing, in the event the Company shall issue new shares during a Plan Year,
all newly issued shares in such Plan Year shall be disregarded in calculating
Adjusted EPS for that Plan Year for purposes of this Plan; provided, however,
that the Committee may choose not to disregard some or all of such newly issued
shares in the calculation of Adjusted EPS if the effect of including such newly
issued shares would be to 

 

 

2

 

 

decrease
the amount of Performance Bonuses that otherwise would be payable under this
Plan for such Plan Year.

 

Business
Unit.  The principal business
segments of the Company during any Plan Year. 
Unless otherwise specified by the Committee, the Business Units are (i) Communications,
(ii) Essex North America, (iii) Essex Asia Pacific, and (iv) Essex
Europe.

 

Business
Unit Financial Objectives.  The
Business Unit Financial Objectives established by the Committee for a Plan
Year, as provided in Article 5.

 

Consolidated
Adjusted EBITDA.  For any
Plan Year, Adjusted EBITDA for the Company as a whole.

 

Consolidated
EBITDA.  The Company’s consolidated
earnings before interest, taxes, depreciation and amortization for a given
year, as reflected in the Company’s year-end earnings release.

 

Corporate
Financial Objectives.  The
Corporate Financial Objectives established by the Committee for a Plan Year, as
provided in Article 5.

 

EPS.  Earnings per share of the Company, as
reflected in the Company’s year-end earnings release.

 

Executive
Bonus Plan or Plan.  The Superior
Essex Inc. Amended and Restated Executive Bonus Plan as set forth in this
document together with any subsequent amendments hereto.

 

GAAP.  Generally accepted accounting principles for
U.S. companies.

 

Individual
Award Limit.  Has the
meaning described in Section 5.2.

 

Performance
Bonus.  The bonus payable to a
Participant under this Plan calculated by reference to the achievement of
applicable Performance Objectives, as determined in accordance with Article 5.

 

Performance
Objectives. 
Collectively with respect to a Participant, the Threshold Earnings
Performance and any other Corporate Financial Objectives and Business Unit
Financial Objectives (if applicable to the Participant), as provided in Article 5.

 

Plan
Year.  January 1 to December 31
of each year.

 

Schedule.  Means a document setting forth Corporate
Financial Objectives and/or Business Unit Financial Objectives relevant to a
Participant or Group of 

 

 

3

 

 

Participants,
and the relative weightings of such measures and such other information as the
Committee determines is appropriate.

 

Target
Bonus.  Has the meaning described in Section 5.4.

 

Threshold
Earnings Performance.  Has the
meaning given such term in Section 5.2.

 

Triggering
Acquisition.  An
acquisition (or combination of acquisitions) in which the acquired entity’s
EBITDA (on a proforma basis) for the four quarters completed immediately prior
to consummation of the acquisition is equal to one percent (1%) or more of the
Adjusted EBITDA for the Company (on a consolidated basis) for the same period.

 

Triggering
Disposition.  The
disposition of businesses, product lines or interests that, individually or in
the aggregate, represent one percent (1%) or more of the Company’s target
Adjusted EBITDA (on a consolidated basis) for the four fiscal quarters
completed immediately prior to the consummation of the disposition.

 

ARTICLE 3

ADMINISTRATION

 

                3.1.          COMMITTEE.  This Plan shall be administered by the
Committee.

 

                3.2.          AUTHORITY OF COMMITTEE.  Without limiting its authority under Article 4
of the Omnibus Plan, the Committee has the exclusive power, authority and
discretion to:

 

(a)  Designate Participants for each
Plan Year;

 

(b)  Establish and review Performance
Objectives and weightings for different Performance Objectives for each Plan
Year;

 

(c)  Establish Target Bonuses for Participants for each Plan Year;

 

(d)  Determine whether and to what extent Performance Objectives
were achieved for each Plan Year;

 

(e)  Increase (subject to the Individual Award Limit) or decrease
the Performance Bonus otherwise payable to any Participant resulting from the
achievement of financial Performance Objectives in any Plan Year, based on such
subjective factors as the Committee shall deem relevant, in accordance with the
parameters, if any, set forth in the relevant Schedule (for example, a Schedule
permits such reduction by up to X%);

 

 

4

 

 

(f)  Increase the Performance Objectives or decrease the
Performance Bonus otherwise payable to any Participant resulting from the
achievement of financial Performance Objectives in any Plan Year, if the
Committee determines that the Performance Objectives would result in payouts
that would be disproportionate to the Company’s performance or other
extraordinary circumstances merit a reduction in the amounts earned;

 

(g)  Establish, adopt or revise any rules and regulations as
it may deem necessary or advisable to administer this Plan;

 

(h)  Make all other decisions and determinations that may be
required under this Plan or as the Committee deems necessary or advisable to
administer this Plan; and

 

(i)  Amend this Plan as provided herein.

 

                3.3.          DECISIONS BINDING. 
The Committee’s interpretation of this Plan and all decisions and determinations
by the Committee with respect to this Plan are final, binding, and conclusive
on all parties.

 

ARTICLE 4

ELIGIBILITY

 

                4.1.          DESIGNATION OF PARTICIPANTS.  Exhibit A hereto lists the Executives
who are designated as Participants in this Plan.  The Committee, in its discretion, may
determine whether other positions may qualify for participation in all or any
portion of this Plan for any subsequent Plan Year or change Target Bonuses of
existing Participants, subject to the terms of any Employment Agreement with
the Participant.  Before March 31 of
each Plan Year, the Committee shall approve and substitute a new Exhibit A
indicating the Participants and their Target Bonuses for that Plan Year.  The Committee will notify or cause
Participants to be notified of their eligibility to participate, and the terms
thereof, in writing.

 

                4.2.          PARTIAL YEAR PARTICIPATION.  If a Participant begins employment or is
promoted to an eligible position after the beginning of a Plan Year, the
Committee, in its discretion, may determine whether such employee may
participate in this Plan and if so, the terms of such participation, which will
be pro rated based on the number of days such person participated in this Plan
during the Plan Year, unless the Committee determines otherwise.  If a Participant takes a leave of absence
during the Plan Year for any reason the Participant will receive a pro rata
share of a Performance Bonus, if any, for such Plan Year, unless the Committee
decides otherwise.

 

                4.3.          DEMOTIONS.  If
a Participant is demoted during the Plan Year, the Committee will determine
whether Plan participation ends at that time, or is continued, perhaps at a
reduced level.  If participation ends,
any Performance Bonus earned during the time of participation will be prorated
for the Plan Year.

 

 

 

5

 

 

 

ARTICLE 5

OPERATION OF THE PLAN

 

                5.1.          PLAN STRUCTURE.  Each Participant shall be eligible to receive
a Performance Bonus for the Plan Year if the Company meets or exceeds certain
Performance Objectives set by the Committee. 
It is anticipated that the Committee shall establish or approve
Performance Objectives and their respective weightings, and Target Bonuses as
provided in Sections 5.4, 5.5 and 5.6. 
In establishing Performance Objectives, the Committee may take into
account such factors as it deems appropriate, including, without limitation,
prior year results, planned business results, anticipated business trends,
performance relative to peer companies and macroeconomic conditions.  Those Performance Objectives shall provide
the framework for the Committee in determining the appropriate amount of
incentive awards to payout in each Plan Year. 
However, this Plan is designed to provide the Committee discretion to
make pay-outs that differ from those that would result from the application of
the Sections 5.4, 5.5 and 5.6, if circumstances warrant, so long as, at a
minimum, the requirements of Section 5.2 are met.  Such circumstances could include, for example
and without limitation, events that are not anticipated at the time the
Performance Objectives are established or extenuating circumstances or
extraordinary performance that is not recognized through the Performance
Objectives.

 

                5.2.          ESTABLISHMENT OF TARGET BONUSES.  The Committee plans to establish Performance
Objectives (in addition to the Threshold Earnings Performance) and Target
Bonuses (other than the Individual Award Limit) for each Plan Year, by
approving in writing the percentage of each Participant’s base salary that will
be awarded to the Participant for that Plan Year if the Threshold Performance
Goal is achieved and if the other established Performance Objectives are
achieved at the target level (the “Target Bonus”).  Each Participant’s Target Bonus percentage will
be communicated in writing to the Participant unless such target is specified
in his or her Employment Agreement with the Company.  The actual Performance Bonus to a Participant
may be greater or less than his or her Target Bonus, depending on the level of
achievement of Performance Objectives, as provided in the relevant Schedule,
and depending on whether the Committee exercises its discretion to increase or
reduce a resulting Performance Bonus as provided herein or in the relevant
Schedule.

 

5.3.          CORPORATE FINANCIAL OBJECTIVES.  Before March 31 of each Plan Year, it is
anticipated that the Committee will approve Corporate Financial Objectives for
each Plan Year for corporate-level Participants in addition to Threshold
Earnings Performance, and shall set forth such Corporate Financial Objectives
in one or more Schedules.  The Schedule
shall provide the formula that the Committee will use as a guide for
determining a Participant’s Performance Bonus.

 

                5.4.          BUSINESS UNIT FINANCIAL OBJECTIVES.  Before March 31 of each Plan Year, it is
anticipated that the Committee will approve Corporate Financial Objectives in
addition to Threshold Earnings Performance and/or Business Unit Financial

 

6

 

Objectives
for the Plan Year for Business Unit Participants, and shall set forth such
Corporate Financial Objectives and Business Unit Financial Objectives in one or
more Schedules.  The Schedule shall
provide the formula that the Committee will use as a guide in exercising its negative
discretion for determining a Business Unit Participant’s Performance Bonus.

 

5.5           THRESHOLD PERFORMANCE GOAL AND
INDIVIDUAL AWARD LIMITS.  Pursuant to Article 14
of the Omnibus Plan, by adopting this amended and restated Executive Bonus Plan
on March 19, 2008 to be effective as of the beginning of Plan Year 2008,
the Committee has established for each Plan Year beginning with Plan Year 2008
a threshold performance goal under the Plan based on “earnings,” which is one
of the Qualified Business Criteria approved by the shareholders under Section 14.2
of the Omnibus Plan.  Specifically, the
threshold performance goal under the Plan for each such Plan Year is that the
Company achieve positive Consolidated EBITDA for such fiscal year (the “Threshold
Earnings Performance”).  Subject to Section 14.3
of the Omnibus Plan in the case of the death or Disability of a Participant or
the occurrence of a Change in Control, no incentive awards shall be payable
under the Plan for any Plan Year unless the Threshold Earnings Performance has
been achieved.

 

In any Plan Year in
which the Threshold Earnings Performance is achieved, the Performance Bonus
payable to each Participant under the Plan for such Plan Year shall be the
lesser of (i) $3,000,000, (ii) 2.0% of Consolidated EBITDA for the
Chief Executive Officer, or (iii) 1.0% of Consolidated EBITDA for other
Participants (the “Individual Award Limit”), subject in each case to the
Committee’s discretion to award any Participant less than such amount based on
the level of actual performance compared to Corporate Financial Objectives
and/or Business Unit Financial Objectives and such other Performance Objectives
or any other criteria determined by the Committee.  As described herein, it is anticipated that
the Committee will exercise such negative discretion such that the Performance
Bonus paid to a Participant for a Plan Year would represent the amount that
would be payable pursuant to the applicable Corporate Financial Objectives
and/or Business Unit Financial Objectives.

 

In no event shall the
sum of the Individual Award Limits for all Participants in a given Plan Year
exceed 10% of Consolidated EBITDA for such Plan Year.

 

                5.6.          ADJUSTMENT TO FINANCIAL OBJECTIVES.  If prior to the end of a Plan Year the
Company engages in a Triggering Disposition or a Triggering Acquisition, in each
case a “Re-Set Event,” the Corporate Financial Objectives (other than Threshold
Earnings Performance) and Business Unit Financial Objectives for the Plan Year
may be adjusted, effective as of the date of the Re-Set Event, (x) to
reflect any Triggering Disposition by eliminating from the original Corporate
and/or Business Unit Financial Objectives, as applicable, the plan business
results relating to the disposed business for the remainder of the Plan Year,
and (y) to reflect any Triggering Acquisition, by establishing
supplemental Corporate Financial Objectives and/or Business Unit Financial
Objectives, as the Committee deems appropriate, with respect to the acquired
business,

 

7

 

 

which
may be zero.  Notwithstanding the
foregoing, the Committee may choose not to make one or more such
adjustments.  Nothing in this Section 5.7
will be construed to authorize the Committee to take actions under this Section 5.7
that would preclude the Performance Bonuses from qualifying for the Section 162(m) Exemption
(as defined in the Omnibus Plan).

 

                5.7.          PAYOUT FORM AND TIMING.  Performance Bonuses will be paid within
thirty (30) days after the Committee determines whether and to what extent
Performance Objectives were achieved, but no later than March 15 next
following the end of the Plan Year for which the Performance Bonuses, if any,
were earned.

 

                5.8.          TERMINATION OF EMPLOYMENT.  In the event of the termination of a
Participant’s employment prior to the end of the Plan Year by reason of the
Participant’s death, Disability, Retirement, termination by the Company without
Cause, or resignation by the Participant for Good Reason, the Participant will
be paid a Performance Bonus equal to the pro rata portion (based on the number
of day worked during the Plan Year) of the Performance Bonus, if any, that
would otherwise be payable if the Participant had continued employment through
the end of the Plan Year, based on actual performance.  For example, no Performance Bonus shall be
paid if the Threshold Earnings Performance is not achieved.  If the Threshold Earnings Performance is
achieved, then his or her Performance Bonus shall be based on the applicable
performance matrix.  Any such Performance
Bonus shall be paid at the normal time for payment of Performance Bonuses
hereunder.  Any amounts paid on behalf of
a deceased Participant will be paid to the Participant’s Beneficiary.  For terminations after the end of the Plan
Year, but before payout from this Plan, payout will be made as though the
termination had not occurred.

 

                5.9.          RECOUPMENT POLICY.  Performance Bonuses earned hereunder by
executive officers with respect to Plan Years 2008 or later are subject to
recoupment pursuant to the terms of that certain Incentive Compensation
Recoupment Policy adopted by the Committee on March 6, 2008, or any
replacement policy or policies adopted by the Board or
the Committee setting forth standards for seeking the return (recoupment) from
executive officers of incentive payments if such payments were inflated due to
financial results that are later restated; provided that any such replacement
policy that would have a material adverse affect on a Participant shall only be
effective prospectively.

 

 

8

 

 

ARTICLE 6

AMENDMENT, MODIFICATION AND
TERMINATION

 

                6.1.          AMENDMENT, MODIFICATION AND
TERMINATION.  The Committee may, at
any time and from time to time, amend, modify or terminate this Plan.  The Committee may condition any amendment or
modification on the approval of shareholders of the Company if such approval is
necessary or deemed advisable with respect to tax, securities or other
applicable laws, policies or regulations, including without limitation Code Section 162(m).

 

                6.2.          TERMINATION AFTER OR DURING PLAN YEAR.  Termination of this Plan after a Plan Year
but before Performance Bonuses are paid for that Plan Year will not reduce
Participants’ rights to receive Performance Bonuses for the Plan Year.  Termination or amendment of this Plan during
a Plan Year may be retroactive to the beginning of the Plan Year, at the
discretion of the Committee.  If a Change
in Control occurs, no amendment or termination may adversely affect amounts
payable to a Participant without the consent of the Participant.

 

ARTICLE 7

GENERAL PROVISIONS

 

                7.1.          NO RIGHT TO PARTICIPATE.  No officer or employee shall have any right
to be selected to participate in this Plan.

 

                7.2.          NO RIGHT TO EMPLOYMENT.  Nothing in this Plan shall interfere with or
limit in any way the right of the Company or any Subsidiary to terminate any
Participant’s employment at any time, nor confer upon any Participant any right
to continue in the employ of the Company or any Subsidiary.

 

                7.3.          WITHHOLDING. 
The Company or any Subsidiary shall have the authority and the right to
deduct or withhold, or require a Participant to remit to the Company, an amount
sufficient to satisfy federal, state, and local taxes (including the
Participant’s FICA obligation) required by law to be withheld with respect to
any taxable event arising as a result of this Plan.

 

                7.4.          FUNDING.  Benefits payable under this Plan to a Participant or to a Beneficiary will be paid by the Company from its general assets.  The Company is not required to segregate on its books or otherwise establish any funding procedure for any amount to be used for the payment of benefits under this Plan.  The Company may, however, in its sole discretion, set funds aside in investments to meet its anticipated obligations under this Plan.  Any such action or set-aside may not be deemed to create a trust of any kind between the Company and any Participant or beneficiary or to constitute the funding of any Plan benefits.  Consequently, any person entitled to a payment under this Plan will have no rights greater than the rights of any other unsecured creditor of the Company.
 
9

 
 

                7.5.          EXPENSES.  The
expenses of administering this Plan shall be borne by the Company and its
Subsidiaries.

 

                7.6.          TITLES AND HEADINGS. 
The titles and headings of the Sections in this Plan are for convenience
of reference only, and in the event of any conflict, the text of this Plan,
rather than such titles or headings, shall control.

 

                7.7.  GENDER AND NUMBER.  Except where otherwise indicated by the
context, any masculine term used herein also shall include the feminine; the
plural shall include the singular and the singular shall include the plural.

 

                7.8.          GOVERNING LAW. 
To the extent not governed by federal law, this Plan shall be construed
in accordance with and governed by the laws of the State of Delaware.

 

                7.9           OMNIBUS PLAN CONTROLS.  This Plan is adopted pursuant to and shall be
governed by and construed in accordance with the Omnibus Plan.  In the event of any actual or alleged
conflict between the provisions of the Omnibus Plan and the provisions of this
Plan, the provisions of the Omnibus Plan shall be controlling and determinative.

 

                The foregoing is hereby
acknowledged as being the Superior Essex Inc. Amended and Restated Executive
Bonus Plan as adopted by the Committee on March 19, 2008, to be effective
as of January 1, 2008.

 

	
   

  	
  SUPERIOR ESSEX INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  /s/ Barbara L. Blackford

  
	
   

  	
  Barbara
  L. Blackford

  
	
   

  	
  Executive
  Vice President,

  
	
   

  	
  General
  Counsel and Corporate Secretary

  

 

 

 

 

10

 

 

EXHIBIT A

 

PARTICIPANTS AND TARGET BONUS PERCENTAGES EFFECTIVE
JANUARY 1, 2008

UNDER THE AMENDED AND RESTATED EXECUTIVE BONUS PLAN

 

	
  Name

  	
   

  	
  %
  of Base Salary Payable at

  Target Achievement of

  Performance Objectives*

  
	
   

  	
   

  	
   

  
	
  Corporate

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Stephen M. Carter, CEO

  	
   

  	
  100%

  
	
   

  	
   

  	
   

  
	
  David S. Aldridge, CFO

  	
   

  	
  70%

  
	
   

  	
   

  	
   

  
	
  Barbara L. Blackford, EVP,

  General Counsel and Secretary

  	
   

  	
  60%

  
	
   

  	
   

  	
   

  
	
  Other Participants

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Business Units

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Justin F. Deedy, Jr., EVP and

  President, Communications Group

  	
   

  	
  60%

  
	
   

  	
   

  	
   

  
	
  H. Patrick Jack, EVP and President,

  Essex Asia Pacific

  	
   

  	
  60%

  
	
   

  	
   

  	
   

  
	
  J. David Reed, EVP and

  President, Essex North America

  	
   

  	
  60%

  
	
   

  	
   

  	
   

  
	
  Other Participants

  	
   

  	
   

  

*Subject
to the achievement of Threshold Earnings Performance

 

 

A-1

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