Document:

Exhibit 10.40.7

 

Exhibit 10.40.7

AMENDMENT TO

FEDERATED DEPARTMENT STORES, INC.

PROFIT SHARING 401(k) INVESTMENT PLAN

        The Federated Department Stores, Inc. Profit Sharing 401(k) Investment Plan (the “Plan”) is
hereby amended, effective as of the date that this document is signed, by adding a new Section
1.10.6 reading as follows to the end of Section 1.10 of the Plan.

          1.10.6 Notwithstanding any of the foregoing provisions of this Section 1.10,
any person who is, on any employee payroll of The May Department Stores Company
(for purposes of this Section 1.10.6, “May Company”) or a subsidiary thereof,
treated or classified as an employee of May Company or a subsidiary thereof
immediately prior to the effective date of the merger of May Company into a wholly
owned subsidiary of Federated shall not, at any time during the period that begins
on the effective date of such merger and ends on the next date on which he or she
no longer is an Employee, qualify as a Covered Employee for purposes of this Plan
(until, unless, and to the extent the provisions of this Section 1.10.6 are changed
or deleted by a further amendment to the Plan). For purposes of this Section
1.10.6, a “subsidiary” of May Company means any corporation, partnership, or other
organization other than May Company which is in a chain of corporations,
partnerships, and/or other organizations that begins with May Company and in which
at least 80% of the voting interests in such corporation, partnership, or other
organization in such chain (other than May Company) is owned by May Company or
another corporation, partnership, or other organization in such chain.

        IN ORDER TO EFFECT THE FOREGOING PLAN REVISION, the sponsor of the Plan hereby signs this Plan
amendment.

	 	 	 
	 

	 	FEDERATED DEPARTMENT STORES,
	 

	 	INC.
	 
	 	 
	 

	 	By: /s/ David W. Clark
	 
	 	 
	 

	 	Title: SVP Human Resources
	 
	 	 
	 

	 	Date: August 23, 2005Exhibit 10.40.8

 

Exhibit 10.40.8

AMENDMENT TO

FEDERATED DEPARTMENT STORES, INC.

PROFIT SHARING 401(k) INVESTMENT PLAN

        The Federated Department Stores, Inc. Profit Sharing 401(k) Investment Plan (the “Plan”) is
hereby amended, effective as of February 1, 2006, in the following respects.

        1. Section 1.10.6 of the Plan is amended in its entirety to read as follows.

               1.10.6 Notwithstanding any of the foregoing provisions of this Section 1.10,
any person who on August 30, 2005 (the effective date of the May Company Merger)
was a May Company Defined Contribution Plan Active Participant shall not ever be
considered a Covered Employee for purposes of this Plan. Further and also
notwithstanding any of the foregoing provisions of this Section 1.10, any person
who, on any post-August 30, 2005 date that occurs prior to such person becoming on
or after August 30, 2005 either a May Company Defined Contribution Plan Active
Participant or a Federated Defined Contribution Plan Active Participant, is a May
Company Employee shall not be considered a Covered Employee for purposes of this
Plan on such date. Finally and also notwithstanding any of the foregoing
provisions of this Section 1.10, any person who was not a May Company Defined
Contribution Plan Active Participant on August 30, 2005 but who becomes a May
Company Defined Contribution Plan Active Participant on any date after August 30,
2005 (and has not on any prior post-August 30, 2005 date become a Federated Defined
Contribution Plan Active Participant) shall not ever be considered a Covered
Employee for purposes of this Plan. For purposes of this Section 1.10.6, the
following terms shall have the meanings indicated below.

                    (a) “May Company” means the corporation that, immediately prior to the May
Company Merger, was named The May Department Stores Company and had an employer
identification number (as assigned by the Internal Revenue Service) of 43-1104396.

                    (b) “May Company Employer” means each of May Company and each corporation,
partnership, or other organization other than May Company that, immediately prior
to the May Company Merger, was in a chain of corporations, partnerships, and/or
other organizations that began with May Company and in which at least 80% of the
voting interests in such corporation, partnership, or other organization in such
chain (other than May Company) was owned by May Company or another corporation,
partnership, or other organization in such chain.

                    (c) “May Company Merger” means the merger of May Company into a subsidiary of
Federated, the effective date of which was August 30, 2005.

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                    (d) “May Company Employee” means, as of any date, a person who on such date
(1) is a common law employee of any Associated Employer and (2) is working at or
assigned to an office, store, or other facility that had immediately prior to the
May Company Merger been an office, store, or other facility of a May Company
Employer.

                    (e) “May Company Defined Contribution Plan” means the defined contribution
plan (within the meaning of Section 414(i) of the Code) that immediately prior to
the May Company Merger was known as The May Department Stores Co. Profit Sharing
Plan, had May Company as its sponsor, and had been assigned a plan number (by May
Company) of 003, as such plan existed as of August 30, 2005 (the effective date of
the May Company Merger) and as it was or may be subsequently amended or renamed.

                    (f) “May Company Defined Contribution Plan Active Participant” means, as of
any date, a person who on such date (1) is a May Company Employee and (2) meets all
requirements of the May Company Defined Contribution Plan (including any minimum
service, age, entry date, and employee classification requirements of such plan) to
be a participant in such plan.

                    (g) “Federated Defined Contribution Plan Active Participant” means, as of any
date, a person who on such date (1) is a common law employee of the Employer, (2)
is not a May Company Employee, and (3) meets all requirements of this Plan
(including this Plan’s minimum service, age, entry date, and covered employee
classification requirements) to be a participant in this Plan.

        2. Section 1.13 of the Plan is amended in its entirety to read as follows.

               1.13
Employer — means, except as is otherwise provided in this Section
1.13, each corporation which is (and only during the period in which it is) a
member of a controlled group of corporations (within the meaning of Section 414(b)
of the Code) which includes Federated and each other corporation, partnership, or
other organization which is (and only during the period in which it is) part of a
group of trades or businesses under common control (within the meaning of Section
414(c) of the Code) with Federated. Except where the context otherwise is clear,
any reference to the Employer in this Plan shall be deemed to be referring
collectively to all of the corporations, partnerships, and other organizations
which comprise the Employer. Notwithstanding the foregoing, any corporation,
partnership, or other organization (for purposes of this Section 1.13, an “acquired
company”) that first becomes a member of a controlled group of corporations (within
the meaning of Section 414(b) of the Code) which includes Federated or a part of a
group of trades or businesses under common control (within the meaning of Section
414(c) of the Code) with Federated after the Effective Amendment Date as a result
of the acquisition by Federated and/or another member of the Employer of the stock
or interests of the acquired company or substantially all of the assets of a trade
or business

2

 

previously operated by another organization shall not be considered a part of
the Employer unless and until the first date as of which both (1) the agreements by
which such stock, interests, or assets were acquired by Federated and/or another
member of the Employer do not require that the employees of the acquired company be
eligible to actively participate in another defined contribution plan (within the
meaning of Section 414(i) of the Code) maintained by the acquired company or
another Affiliated Employer (and do not otherwise prohibit the employees of the
acquired company from participating in the Plan) and (2) Federated has taken such
actions (such as, but not necessarily limited to, the providing of notices) so as
to clearly indicate that at least certain employees of the acquired company are
eligible to begin participating in the Plan as of such date.

        IN ORDER TO EFFECT THE FOREGOING PLAN REVISIONS, the sponsor of the Plan hereby signs this
Plan amendment.

	 	 	 
	 

	 	FEDERATED DEPARTMENT STORES,
	 

	 	INC.
	 
	 	 
	 

	 	By: David W. Clark
	 
	 	 
	 

	 	Title: SVP Human Resources
	 
	 	 
	 

	 	Date:                                                             

3Exhibit 10.42

 

Exhibit 10.42

FEDERATED DEPARTMENT STORES, INC.

Description of Non-Employee Directors’ Compensation Program

As of April 1, 2006

	•	 	Retainer and Meeting Fees

          Non-Employee Directors receive the following compensation:

	 	 	 
	Type
of Compensation	 	Amount
of Compensation
	Base Retainer

	 	$60,000 annually *

	Board
or Board Committee Meeting Fee

	 	$2,000 for each meeting attended and for
each review session with one or more
members of management
	Committee
Chairperson Fee

	 	$10,000 annually
	Equity Grant

	 	Options to
purchase up to 5,000 shares of common stock **

 

 

			
	*	 	Effective January 1, 1999, the annual base retainer fee (including the fee payable to a
committee chair) and the meeting fee payable to Non-Employee Directors was paid 50% (or such
greater percentage, in ten percent increments, as any individual director may have elected) in
credits representing the right to receive shares of common stock, with the balance being paid
in cash, in each case three years following the crediting of such stock credits (or at such
later time as any individual director’s service on the Board ends, if such individual director
has elected to defer compensation under the Non-Employee Directors’ deferred
compensation plan). Effective as of March 31, 2006, the
Non-Employee Directors’
compensation program was amended to provide that such stock credits credited between April
2004 and through the date of the 2007 annual shareholder’s
meeting will be settled in cash.
	 
	**	 	In connection with the termination of the retirement plan for Non-Employee Directors
described below, the 1995 Equity Plan was amended to make each Non-Employee Director eligible
to receive annual grants of options to purchase up to 3,500 shares of common stock. The 1995
Equity Plan was further amended to make each Non-Employee Director eligible to receive,
commencing with fiscal year 2001, annual grants of options to purchase up to 5,000 shares of
common stock.

	•	 	Directors’ Deferred Compensation Plan

          Subject to the holding period described above for stock credits covering a portion of retainer
and meeting fees, any Non-Employee Director may defer all or a portion of the total fees received
by him or her either as stock credits or cash credits under
the Non-Employee Directors’ deferred compensation
plan until such director’s service on the Board ends, provided that the stock credits

 

 

subject to
the holding period described above may be deferred under the
Non-Employee Directors’ deferred
compensation plan only as stock credits.

	•	 	Retirement Benefits

          Federated’s retirement plan for Non-Employee Directors was terminated on a prospective basis
effective May 16, 1997 (the “Plan Termination Date”). As a result of such termination, persons who
first become Non-Employee Directors after the Plan Termination Date will not be entitled to receive
any payment thereunder. Persons who were Non-Employee Directors as of the Plan Termination Date
will be entitled to receive retirement benefits accrued as of the Plan Termination Date. Subject
to an overall limit in an amount equal to the aggregate retirement benefit accrued as of the Plan
Termination Date (i.e., the product of the amount of the annual base retainer fee earned
immediately prior to retirement and the years of Board service prior to the Plan Termination Date),
and the vesting requirements described below, persons who retire from service as Non-Employee
Directors after the Plan Termination Date will be entitled to receive an annual payment equal to
the amount of the annual base retainer fee earned immediately prior to retirement, payable in
monthly installments, commencing at age 60 (if such person’s termination of Board service occurred
prior to reaching age 60) and continuing for the lesser of such person’s remaining life or a number
of years equal to such person’s years of Board service prior to the Plan Termination Date. Full
vesting will occur for Non-Employee Directors who reach age 60 while serving on the Board,
irrespective of such person’s years of Board service. Vesting will occur as follows for
Non-Employee Directors whose Board service terminates before the director reaches age 60: 50%
vesting after five years of Board service and an additional 10% vesting for each year of Board
service after five years. Board service following the Plan Termination Date will be given effect
for purposes of the foregoing vesting requirements. There are no survivor benefits under the terms
of the retirement plan.

	•	 	Other

          Each
Non-Employee Director, his or her spouse and eligible dependents also receive executive discounts on merchandise
purchased at Federated
stores, which benefit remains available to them following such
director’s retirement from the Board.

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