Document:

Exhibit
10.4

 

OLD
SECOND BANCORP, INC.

 

2008
EQUITY INCENTIVE PLAN

 

NON-QUALIFIED
STOCK OPTION

 

The Participant specified below has been granted this Option by Old
Second Bancorp, Inc., a Delaware corporation (the “Company”) under the terms of the Old Second
Bancorp, Inc., Inc. 2008 Equity Incentive Plan (the “Plan”).  The Option shall be subject
to the following terms and conditions (the “Option
Terms”):

 

Section 1.                                          Terms of Award.  The following words and
phrases relating to the grant of the Option shall have the following meanings:

 

(a)                                  The
“Participant” is                                             .

 

(b)                                 The
“Grant Date” is                                            .

 

(c)                                  The
number of “Covered Shares” is                     
shares of Stock.

 

(d)                                 The
“Exercise Price” is $                        per
share.

 

Except where the context clearly implies to the contrary, any
capitalized term in this award shall have the meaning ascribed to that term
under the Plan.

 

Section 2.                                          Non-Qualified Stock Option.  The Option is not intended
to constitute an “incentive stock option” as that term is used in Code Section 422.

 

Section 3.                                          Vesting.  Subject to the limitations of the
Option Terms, each installment of Covered Shares of the Option (“Installment”) shall become vested and
exercisable on and after the “Vesting Date”
for such Installment as described in the following schedule (but only if a Termination
of Service has not occurred before the Vesting Date):

 

	
  INSTALLMENT

  	
   

  	
  VESTING DATE

  APPLICABLE TO INSTALLMENT

  
	
  1/3 of Covered Shares

  	
   

  	
  [date]

  
	
  1/3 of Covered Shares

  	
   

  	
  [date]

  
	
  1/3 of Covered Shares

  	
   

  	
  [date]

  

 

(a)                                  Notwithstanding
the foregoing provisions of this Section 3, the Option shall become
fully and immediately vested upon a Change in Control that occurs on or before
the Participant’s Termination of Service or upon a Participant’s Termination of
Service due to Retirement, Disability or death.

 

 

(b)                                 The
Option, once vested, may be exercised in whole or in part (but not as to less
than 25 Covered Shares at any one time, unless fewer than 25 Covered Shares
then remain and the Option is being exercised as to all such remaining Covered
Shares).

 

(c)                                  The
Option may only be exercised on or after the Termination of Service only as to
that portion of the Covered Shares for which it was exercisable immediately
prior to the Termination of Service, or became exercisable on the Termination
of Service.

 

Section 4.                                          Expiration.  The Option shall not be exercisable after the Company’s
close of business on the last business day that occurs prior to the Expiration
Date.  The “Expiration Date” shall be the
earliest to occur of:

 

(a)                                  the
ten-year anniversary of the Grant Date;

 

(b)                                 the
one-year anniversary of the Termination of Service if the termination of
employment or service occurs due to death or Disability;

 

(c)                                  the
three-year anniversary of the Termination of Service if the termination of
employment or service occurs due to Retirement;

 

(d)                                 the
three-month anniversary of the Termination of Service if the termination of
employment or service occurs for reasons other than death, Disability or
Retirement; or

 

(e)                                  the
date on which the Participant engages in conduct which constitutes Cause.

 

Section 5.                                          Termination
Followed by Death.  In the event
that the Participant’s employment or service terminates by reason of Disability
or Retirement, and within the exercise period following such termination the
Employee dies, then the remaining exercise period under outstanding Options
shall equal the longer of: (i) one (1) year following death; or (ii) the
remaining portion of the exercise period which was triggered by the employment or
service termination; provided, however, that
the exercise period may not extend beyond the expiration date of the
Options.  Such Options shall be
exercisable by such person or persons who shall have been named as the Participant’s
beneficiary, or by such persons who have acquired the Participant’s rights
under the Option by will or by the laws of descent and distribution.

 

Section 6.                                          Method
of Option Exercise.

 

(a)                                  Method of Exercise. 
Subject to the Option Terms and the Plan, the Option may be exercised in
whole or in part by filing an exercise notice with the Vice President of Human
Resources of the Company at its corporate headquarters prior to the Company’s
close of business on the last business day that occurs prior to the Expiration
Date.  The notice requirement may only be satisfied by the method
prescribed by the Committee; provided, however,
the Committee shall retain the right to limit or expand the method of exercise
to any one or more methods with respect to any individual Participant or group
or class of Participants.  Such notice
shall specify the number of Covered Shares which the Participant elects to
purchase, 

 

2

 

and shall be accompanied by payment of the Exercise
Price for such Covered Shares indicated by the Participant’s election.

 

(b)                                 Payment of Exercise Price. 
Payment may be by cash or, subject to limitations imposed by applicable
law, by such means as the Committee from time to time may permit, including, (i) by
tendering, either actually or by attestation, Stock acceptable to the
Committee, valued at Fair Market Value on the date of exercise (which may
include shares acquired hereunder); (ii) by irrevocably authorizing a
third party, acceptable to the Committee, to sell Stock (or a sufficient
portion of the shares) acquired upon exercise of the Option and to remit to the
Company a sufficient portion of the sale proceeds to pay the entire Exercise Price;
(iii) by personal, certified or cashiers’ check; (iv) by other
property deemed acceptable by the Committee; or (v) any combination of the
above.  If payment is made pursuant to
clauses (i) or (ii) above, the Participant’s election must be made on
or prior to the date of exercise of the Option and must be irrevocable.  The Option shall not be exercisable if and to
the extent the Company determines that such exercise would violate applicable
state or federal securities laws or the rules and regulations of any
securities exchange on which the Stock is traded and shall not be exercisable
during any blackout period established by the Company from time to time.

 

Section 7.                                          Delivery
of Shares.  Delivery of Stock or
other amounts under this Award Agreement and the Plan shall be subject to the
following:

 

(a)                                  Compliance with Applicable Laws.  Notwithstanding any other provision of this
Award Agreement or the Plan, the Company shall have no obligation to deliver
any Stock or make any other distribution of benefits under this Award Agreement
or the Plan unless such delivery or distribution complies with all applicable
laws (including, the requirements of the Securities Act), and the applicable
requirements of any securities exchange or similar entity.

 

(b)                                 Certificates.  To the
extent that this Award Agreement and the Plan provide for the issuance of
Stock, the issuance may be effected on a non-certificated basis, to the extent
not prohibited by applicable law or the applicable rules of any stock
exchange.

 

Section 8.                                          Withholding.  The exercise of the Option is subject to withholding
of all applicable taxes.  At the election of the Participant, and subject
to such rules and limitations as may be established by the Committee from
time to time, such withholding obligations may be satisfied (i) through
cash payment by the Participant; (ii) through the surrender of shares of
Stock by (actual delivery or by attestation) which the Participant already owns
(provided, however, that to the
extent shares described in this clause (ii) are used to satisfy more than
the minimum statutory withholding obligation, as described below, then, except
as otherwise provided by the Committee, payments made with shares of Stock in
accordance with this clause (ii) shall be limited to shares held by the
Participant for not less than six (6) months prior to the payment date);
or (iii) through the surrender of shares of Stock to which the Participant
is otherwise entitled under the Plan; provided,
however, that such shares under this clause (iii) may be used
to satisfy not more than the Company’s minimum statutory withholding obligation
(based on minimum statutory withholding rates for Federal and state tax
purposes, including payroll taxes, that are applicable to such supplemental
taxable income).

 

3

 

Section 9.                                          Transferability.  The Option is not
transferable by the Participant other than (i) by will or by the laws of
descent and distribution or (ii) pursuant to a qualified domestic
relations order, as defined in the Code or Title I of the Employee Retirement
Income Security Act of 1974, as amended, and during the Participant’s life, may
be exercised only by the Participant.  Except as provided in the preceding
sentence, the Option may not be assigned, transferred (except as aforesaid),
pledged or hypothecated by the Participant in any way whether by operation of
law or otherwise, and shall not be subject to execution, attachment or similar
process.  Any attempt at assignment, transfer, pledge or hypothecation, or
other disposition of this Option contrary to the provisions hereof, and the
levy of any attachment or similar process upon this option, shall be null and
void and without effect.

 

Section 10.                                   Definitions.  For purposes of the Option Terms, words and phrases
shall be defined as follows:

 

(a)                                  “Cause” means in the case of a Participant
with a then-current written Compensation and Benefit Assurance Agreement (“Change in Control Agreement”), the
definition of Cause set forth in the Change in Control Agreement.  For all other Participants, Cause means the (i) willful
misconduct on the part of a Participant that is materially detrimental to the
Company; or (ii) the conviction of a Participant for the commission of a
felony or crime involving turpitude.  “Cause”
under either (i) or (ii) shall be determined in good faith by the
Company.

 

(b)                                 “Disability” shall mean that a Participant (i) is
unable to engage in any substantial gainful activity by reason of any medically
determinable physical or mental impairment which can be expected to result in
death or can be expected to last for a continuous period of not less than
twelve (12) months, or (ii) is, by reason of any medically determinable
physical or mental impairment which can be expected to result in death or can
be expected to last for a continuous period of not less than twelve (12)
months, receiving income replacement benefits for a period of not less than
three (3) months under an accident and health plan covering the Company’s
employees.

 

(c)                                  “Retirement” means Termination of Service, other than for
Cause, after either: (a) attainment of age sixty-five (65); or (b) attainment
of age fifty-five (55) and completion of ten (10) years of service with
the Company or a Subsidiary, as determined in the sole discretion of the
Committee.

 

Section 11.                                   Heirs and Successors.  The Option Terms shall be
binding upon, and inure to the benefit of, the Company and its successors and
assigns, and upon any person acquiring, whether by merger, consolidation,
purchase of assets or otherwise, all or substantially all of the Company’s
assets and business.  If any rights of
the Participant or benefits distributable to the Participant under this
Agreement have not been exercised or distributed, respectively, at the time of
the Participant’s death, such rights shall be exercisable by the Designated
Beneficiary, and such benefits shall be distributed to the Designated
Beneficiary, in accordance with the provisions of this Agreement and the
Plan.  The “Designated Beneficiary” shall be the beneficiary or
beneficiaries designated by the Participant in a writing filed with the
Committee in such form and at such time as the Committee shall require.  If a deceased Participant fails to designate
a beneficiary, or if the Designated Beneficiary does not survive the
Participant, any 

 

4

 

rights that would have
been exercisable by the Participant and any benefits distributable to the
Participant shall be exercised by or distributed to the legal representative of
the estate of the Participant.  If a
deceased Participant designates a beneficiary and the Designated Beneficiary
survives the Participant but dies before the Designated Beneficiary’s exercise
of all rights under this Agreement or before the complete distribution of
benefits to the Designated Beneficiary under this Agreement, then any rights
that would have been exercisable by the Designated Beneficiary shall be
exercised by the legal representative of the estate of the Designated Beneficiary,
and any benefits distributable to the Designated Beneficiary shall be
distributed to the legal representative of the estate of the Designated
Beneficiary.

 

Section 12.                                   Administration.  The authority to manage
and control the operation and administration of the Option Terms and the Plan shall
be vested in the Committee, and the Committee shall have all powers with
respect to the Option Terms as it has with respect to the Plan. Any
interpretation of the Option Terms or the Plan by the Committee and any decision
made by it with respect to the Option Terms or the Plan is final and binding on
all persons.

 

Section 13.                                   Plan Governs.  Notwithstanding
anything in the Option Terms to the contrary, the Option Terms shall be subject
to the terms of the Plan, a copy of which may be obtained by the Participant
from the office of the Secretary of the Company; and the Option Terms are
subject to all interpretations, amendments, rules and regulations
promulgated by the Committee from time to time pursuant to the Plan.

 

Section 14.                                   Interpretation.  The Option Terms are subject to all
interpretations, amendments, rules and regulations promulgated by the
Company from time to time.  Any
interpretation of the Option Terms by the Company and any decision made by it
with respect to the Option Terms are final and binding on all persons.  Notwithstanding anything in the Option Terms
to the contrary, in the event of any discrepancies between the corporate
records and the Option Terms, the corporate records shall control.

 

Section 15.                                   Not An Employment Contract.  The
Option will not confer on the Participant any right with respect to continuance
of employment or other service with the Company or any Related Corporation, nor
will it interfere in any way with any right the Company or any Related
Corporation would otherwise have to terminate or modify the terms of such
Participant’s employment or other service at any time.

 

Section 16.                                   No Rights As Shareholder.  The Participant shall not
have any rights of a shareholder with respect to the Shares subject to the
Option, until a stock certificate has been duly issued following exercise of
the Option as provided herein.

 

Section 17.                                   Amendment.  The Option Terms may be amended in accordance with the
provisions of the Plan, and may otherwise be amended by written agreement of
the Participant and the Company without the consent of any other person.

 

Section 18.                                   Section 409A
Amendment.  The Committee
reserves the right (including the right to delegate such right) to unilaterally
amend this Award Agreement without the consent of the Participant in order to
maintain an exclusion from the application of, or to maintain 

 

5

 

compliance with, Code Section 409A.  Participant’s acceptance of this Option award
constitutes acknowledgement and consent to such rights of the Committee.

 

 

	
   

  	
  OLD
  SECOND BANCORP, INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
  Its:

  	
   

  

 

6Exhibit 10.24

 

AMPHENOL
CORPORATION

 

SUPPLEMENTAL
EMPLOYEE RETIREMENT PLAN

 

(Amended and
Restated Effective January 1, 2009)

 

 

AMPHENOL CORPORATION

 

SUPPLEMENTAL EMPLOYEE RETIREMENT PLAN

 

PREAMBLE

 

Amphenol
Corporation (“Amphenol”) formally adopted a Supplemental Employee Retirement
Plan, effective January 25, 1996, for a select group of senior management
personnel of Amphenol and its Affiliated Companies to insure that the overall
effectiveness of the executive compensation and retirement programs of Amphenol
and its Affiliated Companies will attract, retain and motivate qualified senior
management personnel.  The Supplemental
Employee Retirement Plan has been amended from time to time, and is being amended
and restated, effective January 1, 2009, to comply with the requirements
of Section 409A of the Internal Revenue Code of 1986, as amended, and the
Treasury Regulations and other applicable guidance issued thereunder.

 

Section I. 
Definitions.

 

When
used herein the following words shall have the meanings below unless the
context clearly indicates otherwise.  To
the extent additional definitions of words or terms (not defined below) are
necessary or helpful, the definitions of such words or terms in the Basic
Retirement Plans shall apply unless the context clearly indicates otherwise.

 

1.1                               “Affiliated
Company” means any trade or business entity, or predecessor company of such
entity, if any, which is a member of a controlled group of corporations as
defined under the Internal Revenue Code Section 414, of which Amphenol is
also a member.

 

1.2                               “Basic
Retirement Plan” means any defined benefit pension plan intended to be
qualified under Section 401 of the Code, sponsored by Amphenol Corporation
or any Affiliated Company, as amended from time to time.

 

1.3                               “Basic
Retirement Plan Benefit” means the annual benefit to which a Participant is
entitled from the Basic Retirement Plan.

 

1.4                               “Benefit
Commencement Date” means the date on which a Participant’s benefits under the
Plan commence.

 

1.5                               “Company”
means Amphenol Corporation and its subsidiaries and any successors thereto.

 

1.6                               “Compensation”
means the Participant’s Compensation as defined in the Basic Retirement Plan.

 

1.7                              “Code” means
the Internal Revenue Code of 1986, as amended.

 

 

1.8                              “Participant”
means any employee of the Company who meets the eligibility requirements of Section II
and who is designated and approved as set forth in Section II.

 

1.9                               “Pension
Committee” means the Pension Committee as designated by the Board of Directors,
from time to time, or if none, the Board of Directors of the Company.

 

1.10                        “Plan” means
the Amphenol Corporation Supplemental Employee Retirement Plan.

 

1.11                        “Retirement
Date” means a Participant’s Normal Retirement Date, Early Retirement Date or
Late Retirement Date as the context may indicate and as defined in Section III
of the Plan.

 

1.12                        “Section 409A”
means Section 409A of the Internal Revenue
Code of 1986, as amended, and the Treasury Regulations and other applicable
guidance issued thereunder.

 

1.13                        “Supplemental
Retirement Plan Benefit” means the annual benefit payable in accordance with
the Plan.

 

1.14                        “Surviving
Spouse” means the spouse of the Participant who is legally married to the
Participant, and is not legally separated or divorced from the Participant, and
with respect to an active Participant, has been so married for a period of not
less than 12 months as of the Annuity Starting Date or death of the
Participant.

 

1.15                        “Years of
Service” means the Participant’s Years of Accrual Service as defined in and
accrued under the Basic Retirement Plan.

 

 

Section II. 
Eligibility to Participate.

 

2.1.                            Eligibility.

 

(a)                                  General.  Each senior management employee of the
Company shall be eligible to become a Participant in the Plan but shall only
become a Participant upon such employee being designated as a Participant by
the Pension Committee in writing and provided further that at the time of such
designation and approval the employee is a Participant in a Basic Retirement
Plan. Notwithstanding the preceding sentence, effective January 1, 2000,
any employee of the Company who is actively employed and a Participant in the
Basic Retirement Plan, and whose benefit under the Basic Retirement Plan has
been limited by the application of Section 401(a)(17) or Section 415
of the Code, shall be eligible to become a Participant in the Plan; provided,
however, that any employee of
the Company shall only become a Participant eligible for a benefit determined
pursuant to Section 3.2(a)(iii) upon such employee being designated
in writing by the Pension Committee as a Participant with respect to that
portion of the Plan.

 

(b)                                  January 1,
2007 Basic Retirement Plan Freeze.  No
salaried employee shall become a participant in the Basic Retirement Plan after
December 31, 2006.  An inactive participant
in the Basic Retirement Plan who is reemployed by the Company or a
participating employer under the Basic Retirement Plan as a salaried employee
after December 31, 2006 shall not resume participation in the Basic
Retirement Plan or this Plan.

 

2.2.                            Cessation of Eligibility. 
Once an employee becomes a Participant, he or she shall remain a
Participant until his or her termination of employment with the Company and
thereafter until all benefits to which the Participant or the Participant’s
Surviving Spouse is entitled under the Plan have been paid; provided, however,
that if a Participant ceases to be a Participant in a Basic Retirement Plan
prior to the first to occur of his or her Retirement Date and the date of his or
her termination of employment with the Company, he or she shall cease to be a
Participant hereunder on the date he or she ceases to be a Participant in a
Basic Retirement Plan.

 

Section III. 
Eligibility, Amount, Form and Commencement of Benefits.

 

3.1                               Eligibility. 
Each Participant who satisfies the vesting requirements under a Basic
Retirement Plan shall be eligible to receive a benefit from the Plan.

 

 

3.2                               Retirement Benefits. 
The Supplemental Retirement Plan Benefit payable to a Participant as of
the Benefit Commencement Date shall be calculated as: an annual benefit,
payable in the Normal Form provided under the Basic Retirement Plan, equal
to (a) less (b):

 

(a)                                  is the
annual benefit which is derived from Employer and Employee contributions, if
any, payable to the Participant or Participant’s Surviving Spouse or other
applicable beneficiary, if any, under the Basic Retirement Plan as of the
Participant’s Benefit Commencement Date, such benefit to be calculated:

 

(i)                                     as if the
compensation limitation imposed to determine benefits by Section 401(a)(17)
of the Code was $500,000 for Plan Years prior to 2007, and 3.33 multiplied by
the Section 401(a)(17) limitation for the applicable Plan Year for 2007 and
subsequent Plan Years;

 

(ii)                                  without
regard to any limitations under Code Section 415; and

 

(iii)                               for a
Participant who receives a portion of his or her remuneration from the Employer
or a Participating Employer under the Basic Retirement Plan and a portion from
a Foreign Subsidiary (that is not a Participating Employer in the Basic Retirement
Plan), as if the definition of compensation under the Basic Retirement Plan
includes compensation paid, on or after January 1, 2004, by such Foreign
Subsidiary; provided, however, that such Participant is not eligible to
participate in a plan of deferred compensation provided by such Foreign
Subsidiary, or any person or corporation other than the Employer, with respect
to such remuneration; and

 

(b)                                 is the
annual benefit which is derived from Employer and Employee contributions, if
any, and which would be payable to the Participant or the Participant’s
Surviving Spouse or other applicable beneficiary, if any, under the Basic
Retirement Plan if benefits commenced under that plan on the Participant’s Benefit
Commencement Date under this Plan.

 

No
benefit shall be payable under this Plan to a Participant or Surviving Spouse,
or other beneficiary unless a benefit is or will be payable to such
Participant, Surviving Spouse or beneficiary under the Basic Retirement
Plan.  The calculation of the
Supplemental Retirement Plan Benefit shall be done by Amphenol in consultation
with the consulting actuary for the Company’s Basic Retirement Plans.  The benefits so determined and the
interpretation of Amphenol based upon such actuarial input shall be final and
binding on the Company, the Participant and the Participant’s Surviving Spouse
or other applicable beneficiary, if any.

 

 

3.3                               Death
Prior to Benefit Commencement.  If a
Participant dies prior to his or her Benefit Commencement Date, his or her Surviving
Spouse, if any, shall be entitled to a Supplemental Retirement Plan Benefit
equal to the death benefit payable to the Surviving Spouse calculated in
accordance with Section 3.2 above, and payable in the form of a life
annuity for the life of the Surviving Spouse. 
Said death benefit shall be payable commencing upon the later of: the
first day of the month immediately following death or the earliest date
retirement benefits could have been paid to the Participant under the Basic
Retirement Plan as in effect on December 31, 2008 if he or she had ceased
to be an Employee on the date of his or her death and survived to such date.

 

3.4                               Disability
Prior to Termination of Employment. 
If a Participant becomes Disabled, as defined below, prior to his or her
termination of employment, he or she shall be entitled to a Supplemental
Retirement Plan Benefit equal to the disability benefit payable under the Basic
Retirement Plan calculated in accordance with Section 3.2 above.  In accordance with Sections 4.1 and 4.2, the
Supplemental Retirement Plan Benefit shall be payable in the form of a life
annuity, the actual type of which shall be elected by the Participant from the
options available under the Basic Retirement Plan prior to the date payments
commence, and shall commence on the first day of the month following the date
on which a Participant attains age 65. 
For purposes of this Section, a Participant is Disabled, in accordance
with Section 409A, when, 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, he or she receives
income replacement benefits for a period of 6 months under an accident and
health plan covering employees of Amphenol.  If a participant incurs a disability that does
not constitute a Disability as set forth in the preceding sentence,
Supplemental Retirement Plan Benefits shall not commence pursuant to this
Section.

 

3.5                               Change in Control.  Upon
a Change in Control, as defined below and in accordance with Section 409A,
notwithstanding any provision of this Plan to the contrary, Participants shall
be 100% vested.  A Participant who did
not reach his or her Benefit Commencement Date prior to the Change in Control
shall receive his or her Supplemental Retirement Plan Benefit, calculated
in accordance with Section 3.2 based upon his or her Years of Service and
Compensation as of the date of the Change in Control, in an immediate lump sum
that shall be actuarially equivalent, using the
actuarial assumptions in the Basic Retirement Plan but without adjustment pursuant
to Code Section 417(e)(3)(D), to the annuity calculated under 3.2 above.

 

A Change in Control shall
be considered to have occurred only if the circumstances satisfy one of the
following, which shall be construed to be consistent with the requirements of
Treasury Regulation Section 1.409A-3(i)(5) (except to the extent that
such regulations are superseded by subsequent guidance under Section 409A):

 

(I)                                    Change
in the ownership of the Company.  A
change in the ownership of the Company shall occur on the date that any one
person, or more than one person acting as a group (as defined in Treasury
Regulation Section 1.409A-3(i)(5)(v)(B)), acquires ownership of stock of
the Company that,

 

 

together with
stock held by such person or group, constitutes more than 50% of the total fair
market value or total voting power of the stock of the Company.

 

(II)                                Change
in the effective control of the Company.  A change in the effective control
of the Company shall occur on the date that either (A) any one person, or
more than one person acting as a group (as defined in Treasury Regulation Section 1.409A-3(i)(5)(vi)(D)),
acquires (or has acquired during the 12-month period ending on the date of the
most recent acquisition by such person or persons) ownership of stock of the
Company possessing 30% or more of the total voting power of the stock of the
Company; or (B) a majority of members of the Company’s Board of Directors
is replaced during any 12-month period by Directors whose appointment or
election is not endorsed by a majority of the members of Company’s Board of
Directors prior to the date of the appointment or election.

 

(III)                            Change
in the ownership of a substantial portion of the Company’s assets.  A change in the ownership of a substantial
portion of the Company’s assets shall occur on the date that any one person, or
more than one person acting as a group (as defined in Treasury Regulation Section 1.409A-3(i)(5)(vii)(C)),
acquires (or has acquired during the 12-month period ending on the date of the
most recent acquisition by such person or persons) assets from the Company that
have a total gross fair market value equal to more than 40% of the total gross
fair market value of all of the assets of the Company immediately prior to such
acquisition.  For this purpose, gross
fair market value means the value of the assets of the corporation, or the
value of the assets being disposed of, determined without regard to any
liabilities associated with such assets.

 

3.6                               Termination of Employment. 
If a vested Participant’s employment with the Company is terminated
prior to attaining Early Retirement Age, the Participant and his or her Surviving
Spouse or beneficiary shall have a right to receive deferred Supplemental Plan
Benefits, subject to Section 6.1 hereof.

 

Section IV. 
Form and Commencement of Benefits to a Participant (General).

 

4.1                               Form of Benefits.  Except as provided in Section 3.5, Supplemental
Retirement Plan Benefits payable to a Participant pursuant to Section III
will be payable in the form of a life annuity, the actual type of which shall
be elected by the Participant from the options available under the Basic
Retirement Plan, prior to the date of payment, provided that (i) each such
annuity form is actuarially equivalent to each other form of annuity that can
be chosen under this Plan by the Participant, using the same equivalencies as
set forth in the Basic Retirement Plan provided said actuarial assumptions and
methods shall at all times be applied consistently and be reasonable, (ii) each
such form of annuity must have the same initial payment date, and (iii) the
Plan has otherwise complied with the requirements of IRS Regulation
1.409A-2(b)(2)(ii).

 

 

4.2                               Commencement of Benefits.  Supplemental Retirement Plan Benefits payable
under this Plan to a Participant pursuant to Section III will commence on
the first day of the month following the earlier of: (a) a Change in
Control, or (b) the later of the Participant’s: (i) termination from
employment or (ii) attainment of the earliest retirement age under the
Basic Retirement Plan as in effect on December 31, 2008; provided,
however, if the Participant becomes Disabled prior to termination of employment
his or her benefit shall commence upon the first day of the month following his
or her 65th birthday. 
Notwithstanding the preceding, Supplemental Retirement Plan Benefits
payable to a Specified Employee upon his or her termination of employment shall
be delayed as set forth in Section 6.13. 
In the event of any commencement of benefits prior to Normal Retirement
Date, such benefits shall be subject to the same actuarial adjustment for early
commencement, if any, as are made for benefits under the Basic Retirement Plan.

 

4.3                               Acceleration/Commutation of Benefits.  Except as may be permitted under Section 409A,
or otherwise applicable law, payment of Supplemental Retirement Plan Benefits shall
not be accelerated.  Notwithstanding
anything herein to the contrary, the Company may, in its discretion,
automatically pay out a Participant’s vested Supplemental Retirement Plan
Benefit in a lump sum, provided that such payment satisfies the requirements in
(I) through (III) below:

 

(I)                                    Such payment
results in the termination and liquidation of the entirety of the Participant’s
interest under the Plan (as defined in Reg. Section 1.409A-1(c)(2)),
including all agreements, methods, programs, or other arrangements with respect
to which deferrals of compensation are treated as having been deferred under a
single nonqualified deferred compensation plan under Reg. Section 409A-1(c)(2);

 

(II)                                Such payment
is not greater than the applicable dollar amount under Code Section 402(g)(1)(B);
and

 

(III)                            Such
exercise of the Company’s discretion is evidenced in writing no later than the
date of such payment.

 

Section V. 
Amendment and Termination.

 

5.1                               Amendment or Termination. 
Amphenol intends the Plan to be permanent but reserves the right to
amend or terminate the Plan when, in the sole opinion of Amphenol, such
amendment or termination is advisable. 
Any such amendment or termination shall be made pursuant to a resolution
by the Board of Directors of Amphenol which shall be effective on the date of
such resolution.  No amendment or
termination of the Plan shall directly or indirectly deprive any Participant,
Surviving Spouse or beneficiary of all or any portion of any Supplemental
Retirement Plan Benefit which has commenced prior to the effective date of the
resolution amending or terminating the Plan nor any benefit accrued prior to
the effective date of a resolution amending or terminating the Plan.

 

 

5.2                               Termination Benefits. 
In the event of termination of the Plan or a Participant’s participation
in the Plan, each actively employed or disabled Participant on the termination
date shall become vested in his or her accrued Supplemental Retirement Plan
Benefit as of the termination date.  Such
accrued Supplemental Retirement Plan Benefit shall be calculated as set forth
in paragraph 3.2 above based upon the Participant’s Years of Accrual Service,
Compensation and Basic Retirement Plan Benefit, as of the termination
date.  For purposes of determining a
Participant’s accrued Supplemental Retirement Plan Benefit pursuant to this
paragraph, the Participant’s Basic Retirement Plan Benefit shall be his or her
then accrued benefits from the Basic Retirement Plan payable at Normal
Retirement Age.  Payment of a Participant’s
accrued Supplemental Retirement Plan Benefit shall not be dependent upon the
continuation of employment with the Company following the Plan termination
date.  Accrued Supplement Retirement Plan
Benefits shall become payable at the date for commencement of payment of a
Supplemental Retirement Plan Benefit pursuant to the terms of paragraph 4.2 above.

 

5.3                               Corporate Successors. 
The Plan shall not be automatically terminated by a transfer or sale of
assets of Amphenol or by the merger or the consolidation of Amphenol into or
with any other corporation or other entity, but the Plan shall be continued
after such sale, merger or consolidation only if and to the extent that the
transferee, purchaser or successor entity agrees to continue the Plan.  In the event the Plan is not continued by the
transferee, purchaser or successor entity, then the Plan shall terminate
subject to the provisions of paragraph 5.1 and 5.2.

 

Section VI. 
Miscellaneous.

 

6.1                               Forfeiture of Benefit. 
Notwithstanding any other provision of the Plan, future payment of a
Supplemental Retirement Plan Benefit hereunder to a Participant, Surviving
Spouse or beneficiary will, at the discretion of the Retirement Committee, be
discontinued and forfeited hereunder to the Participant, Surviving Spouse or
beneficiary, at any time if any of the following circumstances occur:

 

(a)                                  the
Participant engages in activities deemed competitive with and/or materially
detrimental to the Company following his or her termination of employment with
the Company;

 

(b)                                 the
Participant performs acts of willful malfeasance or gross negligence in a
matter of material importance to the Company, and such acts are discovered by
the Company at any time prior to the death of the Participant.

 

The Pension Committee shall have the sole and
unlimited discretion with respect to the application and the provisions of this
Section and the exercise of discretion shall be conclusive and binding
upon the Participant, Surviving Spouse and beneficiary and all other persons.

 

6.2                               No Effect on Employment Rights. Nothing
contained herein will confer upon any Participant the right to be retained in
the employ or service of the Company nor

 

 

limit
the rights of the Company to discharge or otherwise deal with Participants
without regard to the existence of the Plan.

 

6.3                               Funding. 
The Plan at all times shall be entirely unfunded and no provision shall
at any time be made with respect to segregating any assets of the Company for
payment of any benefits hereunder. 
Nothing in this Plan and no action taken pursuant to the provisions of
the Plan shall create or be construed to create a trust fund of any kind. Any
funds which may be set aside to provide for benefits hereunder shall continue
for all purposes to be part of the general funds of the Company and no person
other than the Company shall have any interest in such funds.  No Participant, Surviving Spouse, beneficiary
or any other person shall have any interest in any particular assets of the
Company by reason of the right or prospective right to receive a benefit under
the Plan, and any such Participant, Surviving Spouse, beneficiary or other person
shall only have the rights of a general unsecured creditor of the Company with
respect to any rights under the Plan. 
Nothing contained in this Plan shall constitute a guarantee by the
Company or any officer or other member or other entity or member of the control
group or other persons associated with the Company that the assets of the
Company will be sufficient to pay any benefit hereunder.

 

6.4                               Spendthrift. 
No benefit payable under the Plan shall be subject to any manner of
anticipation, alienation, sale, transfer, assignment, pledge, encumbrance, or
charge prior to actual receipt thereof by the payee; and any attempt so to
anticipate, alienate, sell, transfer, assign, pledge, encumber or charge prior
to such receipt shall be null and void; and the Company shall not be liable in
any manner for or subject to the debt, contracts, liabilities, engagement or
torts of any person entitled to any benefit under the Plan.

 

6.5                               Administration. 
The Pension Committee shall be responsible for the general operation and
administration of the Plan and for carrying out the provisions thereof.  All provisions set forth in the Basic
Retirement Plans with respect with the administrative powers and duties of the
Pension Committee, expenses of administration and the procedure for filing
claims and review of claims shall be also applicable with respect to this
Plan.  The Pension Committee shall be
entitled to rely conclusively upon all tables, valuations, certificates,
opinions, personnel files, records, benefit calculations and other information
furnished by any actuary, accountant, Controller, legal counsel or the person
employed by or engaged by the Company with respect to the Plan.

 

6.6                               Disclosure. 
Each Participant shall receive a copy of the Plan and the Pension
Committee will make available for inspection by any Participant, Surviving
Spouse or beneficiary, a copy of any rules and regulations adopted by the
Pension Committee or administrator of the Plan as well as make available any
annual reports filed by the Plan.

 

6.7                               Applicable Law. 
The Plan is established under and will be constructed according to the Internal
Revenue Code of 1986, as amended, and valid regulations issued thereunder, and
the laws of the State of Connecticut, to the extent that such laws are not preempted
by the Employee Retirement Income Security Act of 1974, as amended, and

 

 

valid
regulations published thereunder.  Each
Participant hereof consents and submits to the jurisdiction of the state or
federal court situated in the State of Connecticut in any action or proceeding
arising out of or relating to this Plan, and agrees that all claims in respect
of any such action or proceeding shall be heard and determined exclusively in
such courts.

 

6.8                               Incapacity. 
In the event a Participant, Surviving Spouse or beneficiary is declared
incompetent and a conservator of the person legally charged with the care of
his or her person or his or her estate is appointed, any benefits under this
Plan to which the Participant, Surviving Spouse or beneficiary is entitled
shall be paid to such conservator or other person legally charged with the care
of the person or his or her estate. 
Except as provided above in this paragraph when the Pension Committee in
its sole discretion determines that a Participant, Surviving Spouse or beneficiary
is unable to manage his or her financial affairs, the Retirement Committee may
direct the Company to make such distributions to any person for the benefit of
such Participant, Surviving Spouse or beneficiary.

 

6.9                               Unclaimed Benefit. 
Each Participant shall keep the Company or the Pension Committee
informed of his or her current address and the current address of his or her spouse
or beneficiary.  The Pension Committee
shall not be obliged to search for the whereabouts of any person.  If the location of a Participant, Surviving
Spouse, or other beneficiary is not made known to the Pension Committee within seventy-five
(75) days after the date which any payment of the Supplemental Retirement Plan
Benefit is due to be made, then the Company shall have no further obligation to
pay any benefit hereunder to such Participant, Surviving Spouse, beneficiary or
any other person and such benefit shall be irrevocably forfeited.

 

6.10                        Limitation or Liability. 
Notwithstanding any of the preceding provisions of the Plan, neither the
Company nor any individual acting as an Employee, agent, fiduciary or any other
capacity of the Company or as a member of the Pension Committee or Board of
Directors shall be liable to any Participant, former Participant, Surviving
Spouse, beneficiary or any other person for any claim, loss, liability or
expense incurred in connection with the Plan or any other forfeiture or
nonpayment of any benefits under the Plan.

 

6.11                        No Guarantee of Benefits. 
Nothing contained in the Plan shall constitute a guarantee by the
Company or any other person or entity that the assets of the Company will be
sufficient to pay any benefit hereunder.

 

6.12                        Administration. 
The Company shall be responsible for the general operation and
administration of the Plan and for carrying out the provisions thereof except
for those duties and authority which are reserved to the Pension Committee.

 

6.13                        Compliance with Section 409A.
 This Plan is intended to comply with Section 409A,
and as such will be interpreted in a manner consistent with the provisions set
forth therein.  With respect to any “deferred
compensation” within the meaning of Section 409A that is payable or
commences to be payable under this Plan solely by reason

 

 

of the Participant’s
termination of employment, such amount shall be payable or commence to be
payable as soon as, and no later than, the date on which the Participant
experiences a “separation from service” as defined in Section 409A,
subject to the six-month delay described below, if applicable.

 

If the Participant
is a “Specified Employee” within the meaning of Section 409A at the time
his or her employment terminates and any amount payable to the Employee by
virtue of his or her separation from service constitutes “deferred compensation”
within the meaning of Section 409A, any such amounts that otherwise would
be payable during the first six months following separation from service shall
be delayed and accumulated for a period of six months and paid in a lump sum on
the first day of the seventh month. 
Amounts exempt from Section 409A shall not be so delayed.

 

IN
WITNESS WHEREOF, Amphenol has caused this amended and
restated Plan to be executed this         
day of December, 2008.

 

 

	
   

  	
   

  	
  AMPHENOL CORPORATION

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
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