Document:

exv10w4

 

EXHIBIT 10.4

FIRST AMENDMENT TO THE

TRW AUTOMOTIVE DEFERRED COMPENSATION PLAN

          TRW Automotive U.S. LLC (the “Company”) hereby adopts this First Amendment to the TRW
Automotive Deferred Compensation Plan (Effective as of February 28, 2003) (the “Plan”), effective
as of the dates set forth herein.

RECITALS

A. The Company adopted and maintains the Plan for the benefit of certain of its eligible employees
and retirees.

B. The Company desires to modify the election rules and procedures under the Plan to comply with
the American Jobs Creation Act of 2004, effective as of January 1, 2005.

C. The Company desires to amend the Plan to change the default investment election under the Plan
from the Applicable Federal Long Term Rate to the Fidelity Managed Income Portfolio, effective as
of July 1, 2004.

D. The Company desires to amend the Plan to reflect the appointment of Fidelity Investments as the
new recordkeeper for the Plan, effective as of July 1, 2004.

NOW, THEREFORE, the Plan is hereby amended as follows:

	 	1.	 	Section 1.17 is amended to include the following sentence at the end thereof:
	 
	 	 	 	Notwithstanding anything to the contrary herein, effective January 1, 2005, a participant
shall be deemed to have a “Financial Hardship”, if he experiences an “unforeseeable
emergency”, as defined by Section 409A of the Code and regulations promulgated thereunder.
	 
	 	2.	 	Section 1.20 is amended to include the following sentence at the end thereof:
	 
	 	 	 	Effective January 1, 2005, the applicable long-term federal rate generally is not available
as an investment option under the Plan.
	 
	 	3.	 	Effective as of July 1, 2004, Section 3.1(b)(iii) is hereby amended in it’s entirety
to read as follows:

 

 

(iii) the Investment Fund Returns and/or Interest Rate to be credited to the Participant’s
entire Sub-Account applicable to the payout year, or, if the deferred amount is to be paid
out following retirement, the entire Retirement Payment Sub-Account (if the Eligible
Employee does not specify such matters, 100% of the amount deferred for such fiscal year
and all amounts in the applicable Sub-Account with the same payout year, or the Retirement
Payment Sub-Account, as the case may be, shall be invested in the Fidelity Managed Income
Portfolio or such other investment fund as the Investment Committee of the Company shall
specify from time to time).

	 	4.	 	Effective as of January 1, 2005, Section 3.1(c) is hereby amended by replacing the
date “September 30” with the date “July 1” where it appears therein.
	 
	 	5.	 	Effective as of January 1, 2005, Section 3.3(a) is hereby amended by replacing the
date “October 1” with the date “July 1” where it appears in the first sentence thereof and
by replacing the date “February 1” with the date “July 1” where it appears in the last
sentence thereof.
	 
	 	6.	 	Section 4.5 is hereby amended by adding the phrase “to the extent approved by the
Committee for any year” at the end of the sentence “For new allocations of Deferred
Compensation deferred to a Participant’s Account in the month of February, Investment Fund
Returns and Interest will be credited retroactive to February 1” where it appears therein.
	 
	 	7.	 	Section 5.1 is hereby amended, effective January 1, 2005, to add the following new
subsections (i) and (j) to the end thereof:

(i) Notwithstanding anything to the contrary herein, to the extent required by the American
Jobs Creation Act of 2004 and Code Section 409A with respect of amounts earned or vested
under the Plan in any plan year beginning on or after January 1, 2005, a participant must
elect the form in which such amounts shall be paid upon retirement in the year immediately
preceding the plan year in which services are performed. Except as otherwise provided in
applicable Treasury Regulations, any such election shall be irrevocable. If the
Participant fails to make an election under this subsection (i), payment shall be made in
the form of a single sum.

(j) Notwithstanding anything to the contrary herein, to the extent required by the American
Jobs Creation Act of 2004 and Code Section 409A, distribution to a participant who is a
“key employee” must be delayed at least 6 months after the last day worked.

 

 

	 	8.	 	Section 5.4 is hereby amended, effective January 1, 2005, to add the following new
sentence to the end thereof:
	 
	 	 	 	Provided, however, that to the extent required by the American Jobs Creation Act of 2004
and Code Section 409A, distribution to a participant who is a “key employee” must be
delayed at least 6 months after the last day worked.
	 
	 	9.	 	Effective as of July 1, 2004, the Plan is hereby amended by replacing all references
to Putnam Fiduciary Trust Company or Putnam with references to Fidelity Investments or
Fidelity.

EXECUTED this 18th day of November, 2004.

	 	 	 	 	 
	 	TRW Automotive U.S. LLC

 	 
	 	By:  	/s/ David L. Bialoskyexv10w5

 

EXHIBIT 10.5

SECOND AMENDMENT TO THE

TRW AUTOMOTIVE BENEFIT EQUALIZATION PLAN

          TRW Automotive U.S. LLC (the “Company”) hereby adopts this Second Amendment to the TRW
Automotive Benefit Equalization Plan (Effective as of February 28, 2003) (the “Plan”), effective as
of the dates set forth herein.

RECITALS

A. The Company adopted and maintains the Plan for the benefit of certain of its eligible employees
and retirees.

B. The Company desires to amend the Plan to offer a one-time early distribution option in
accordance with the transition rules provided under the American Jobs Creation Act of 2004,
effective as of January 1, 2006.

C. The Company desires to further amend the Plan to limit eligibility to full-time, salaried
employees who participate in the TRW Automotive Operational Incentive Plan at Level III or above in
the immediately preceding calendar year, effective as of January 1, 2007.

NOW, THEREFORE, the Plan is hereby amended as follows:

	 	1.	 	Effective as of January 1, 2007, Section 2 of the Plan is hereby amended in its
entirety to read as follows:

2. Eligibility. An employee of TRW Automotive who is eligible to participate
in the Savings Plan will be eligible to participate in the Plan for a
calendar year if he or she is a full-time active, salaried employee of TRW
Automotive who participated in the TRW Automotive Operational Incentive Plan
at Level III or above in the immediately preceding calendar year; subject to
a determination by the Committee or its delegate that the employee’s
participation must cease in order to preserve the Plan’s status as a plan
maintained primarily for the purpose of providing deferred compensation for a
select group of management or highly compensated employees. An employee will
cease to be eligible to participate in the Plan if he or she ceases to
participate in the TRW Automotive Operational Incentive Plan at Level III or
above. Notwithstanding anything to the contrary herein, an employee’s
eligibility is at all times contingent on his or her timely election to
participate in the Savings Plan and the Plan.

 

 

	 	2.	 	Effective January 1, 2006, Section 5 is amended by adding the following new
subsection (d) to the end thereof:

(f) Notwithstanding anything to the contrary herein, to the extent permitted
by the American Jobs Creation Act of 2004 (the “Act”) and Code Section 409A
and the regulations promulgated thereunder, Participants shall be offered a
one-time, irrevocable election to receive all or a percentage of their May
31, 2006, vested account balance under the Plan (plus earning and losses
thereon) in July 2007, rather than at such other date as is required by this
Section 5 (e.g. retirement or termination of employment). If elected, such
distribution shall be made in one-lump sum payment. The election period
shall commence on or about June 10, 2006, and end on June 30, 2006. If the
Participant fails to make an election under this subsection (d) by June 30,
2006, payment shall be made on the date(s) and in the payment form(s)
previously elected, subject to the Act and the Plan.

	 	3.	 	Effective as of January 1, 2005, Section 6(f) is hereby amended by adding the
following to the end thereof:

In addition, during the 2005 enrollment period that occurred in December
2004, a Participant was required to elect the form of distribution for all
contributions made to the Plan prior to January 1, 2005. The available
distribution options were a single lump sum and annual installments of up to
10 years. This was a one-time, irrevocable distribution election. If the
Participant failed to make an election under this subsection (f), payment of
such pre-2005 contributions (plus earnings and losses thereon) would be made
in the form of a single lump sum.

	 	4.	 	Except as set forth in this Second Amendment, the Plan is ratified and confirmed in
all respects.

EXECUTED
this 31st day of July, 2006.

	 	 	 	 	 
	 	TRW Automotive U.S. LLC

 	 
	 	By:  	     /s/
Steven M. Kiwiczexv10w6

 

EXHIBIT 10.6

SECOND AMENDMENT TO THE

TRW AUTOMOTIVE DEFERRED COMPENSATION PLAN

          TRW Automotive U.S. LLC (the “Company”) hereby adopts this Second Amendment to the TRW
Automotive Deferred Compensation Plan (Effective as of February 28, 2003) (the “Plan”), effective
as of the dates set forth herein.

RECITALS

A. The Company adopted and maintains the Plan for the benefit of certain of its eligible employees
and retirees.

B. The Company desires to amend the Plan to offer a one-time early distribution option in
accordance with the transition rules provided under the American Jobs Creation Act of 2004,
effective as of June 1, 2006.

C. The Company desires to further amend the Plan to cease all future deferrals thereto after
December 31, 2006.

NOW, THEREFORE, the Plan is hereby amended as follows:

	 	1.	 	The introductory language at the beginning of the Plan is hereby amended to include
the following new paragraph at the end thereof:
	 
	 	 	 	Notwithstanding anything to the contrary herein, no further deferrals will be
permitted to the Plan after December 31, 2006. Existing account balances will
remain in the Plan until distributed in accordance with the provisions hereof.
	 
	 	2.	 	Section 3.2 is amended to include the following new sentence to the end thereof:
	 
	 	 	 	Notwithstanding anything to the contrary herein, no deferral elections will be
permitted under the Plan after December 31, 2006.
	 
	 	3.	 	Section 4.1 is amended to include the following new sentence to the end thereof:
	 
	 	 	 	Notwithstanding anything to the contrary herein, no deferrals will be permitted
under the Plan after December 31, 2006.
	 
	 	4.	 	Section 5.1(b) is hereby amended in its entirety, effective June 1, 2006, to read as
follows:

 

 

(b) For amounts earned or vested prior to January 1, 2005, if a Participant’s
Termination of Employment occurs as a result of retirement, the Participant shall
receive the Plan Benefit payable in respect of his pre-2005 Retirement Payment
Sub-Account in ten annual installments, unless the Participant elected otherwise
at the time of his original Deferral Election. Such installments shall be paid in
accordance with the procedures set forth in Section 5.1(f) below beginning in the
January following the year in which Termination of Employment occurred. That
notwithstanding, to the extent permitted by the American Jobs Creation Act of 2004
(the “Act”), the Participant can petition the Special Committee (or the Committee
in the case of an Executive Officer) at any time at least twelve months prior to
retirement to change such payment into a lesser number of installments (from two
to nine years) or in a single sum; provided that any such payment change shall not
be effective until the fifth calendar year following the date payment otherwise
would have been made. For purposes hereof and the Act, installments shall be
considered a single payment.

Notwithstanding the foregoing, if the amount in the Retirement Payment Sub-Account
is less than $5,000 valued at December 31 of any year, the balance in the
Retirement Payment Sub-Account shall be paid in a lump sum in the January
following retirement or any January thereafter in which such Participant’s
Retirement Payment Sub-Account falls below $5,000.

In the event of death of a Participant after payouts have begun from such
Participant’s Retirement Payment Sub-Account, payouts will continue to be made to
the beneficiary or estate until paid out completely, subject to this Section
5.1(b).

For amounts earned or vested on and after January 1, 2005, if a Participant’s
Termination of Employment occurs as a result of retirement, the Participant shall
receive the Plan Benefit payable in respect of his post-2004 Retirement Payment
Sub-Account in accordance with subsection (i) below.

	 	5.	 	Effective January 1, 2006, Section 5 is amended by adding the following new
subsection (k) to the end thereof:

(k) Notwithstanding anything to the contrary herein, to the extent permitted by
the Act and Code Section 409A and the regulations promulgated thereunder,
Participants shall be offered a one-time, irrevocable election to receive all or a
percentage of their May 31, 2006, vested account balance under the Plan (plus
earning and

 

 

losses thereon) in July 2007, rather than at such other date as is
required by this Section 5 (e.g. retirement, termination of employment, five or
ten years). If elected, such distribution shall be made in one-lump sum payment.
The election period shall commence on or about June 10, 2006, and end on June 30,
2006. If the Participant fails to make an election under this subsection (k) by
June 30, 2006, payment shall be made on the date(s) and in the payment form(s)
previously elected, subject to the Act and the Plan.

	 	6.	 	Except as set forth in this Second Amendment, the Plan is ratified and confirmed in
all respects.

EXECUTED
this 31st day of July, 2006.

	 	 	 	 	 
	 	TRW Automotive U.S. LLC

 	 
	 	By:  	     /s/
Steven M. Kiwicz

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