SEC Contract Filing

Filing Date: 2018-05-02

Document Content:
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<TYPE>EX-10.A1
<SEQUENCE>2
<FILENAME>x10a1-q12018.htm
<DESCRIPTION>EXHIBIT 10.A1
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<div><a name="sF2AE23F7B75D795198B8AAFCAA93798C"></a></div><div><div style="line-height:120%;text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Exhibit 10(a)1</font></div></div><div><br></div><div style="line-height:120%;padding-bottom:16px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">THIRD AMENDMENT TO THE SOUTHERN COMPANY <br>SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">WHEREAS</font><font style="font-family:inherit;font-size:12pt;">, Southern Company Services, Inc. heretofore established and adopted the Southern Company Supplemental Executive Retirement Plan, as amended and restated effective June 30, 2016 (the &#8220;Plan&#8221;); and</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">WHEREAS</font><font style="font-family:inherit;font-size:12pt;">, under Section 6.2 of the Plan, the Benefits Administration Committee (&#8220;Administrative Committee&#8221;) may amend the Plan, provided the amendment either (a) does not involve a substantial increase in cost to any Employing Company, or (b) is necessary, proper, or desirable in order to comply with applicable laws or regulations enacted or promulgated by any federal or state governmental authority; and</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">WHEREAS</font><font style="font-family:inherit;font-size:12pt;">, the Administrative Committee by Resolution on March 7, 2018 has determined it is appropriate to amend the Plan to change the form of payment for benefits in the event of death prior to retirement on or after April 1, 2019 under the authority granted to the Administrative Committee.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">NOW, THEREFORE</font><font style="font-family:inherit;font-size:12pt;">, effective as the date set forth below, the Administrative Committee hereby amends the Plan as&#160;follows:</font></div><div style="line-height:120%;padding-bottom:16px;text-align:center;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">1.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Effective April 1, 2018, the Plan is hereby amended by deleting Section 5.2(e)(2) in its entirety and replacing it with the following:</font></div><table cellpadding="0" cellspacing="0" style="padding-bottom:16px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:144px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:12pt;padding-left:96px;"><font style="font-family:inherit;font-size:12pt;">(2)</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">The form of payment of the Single-Sum Amount described in Section 5.2(e)(1) is as follows:</font></div></td></tr></table><div style="line-height:120%;padding-bottom:16px;text-align:justify;padding-left:144px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(A)&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;font-style:italic;">For deaths prior to April 1, 2019.</font><font style="font-family:inherit;font-size:12pt;">&#32;A single lump sum equal to the Single-Sum Amount is payable to the Designated Beneficiary(ies) on the first of the month following the date of the Participant&#8217;s death. The single lump sum benefit will be payable as soon as administratively feasible after the Designated Beneficiary(ies) have been confirmed and located.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;padding-left:144px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(B)&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;font-style:italic;">For deaths on or after April 1, 2019.</font><font style="font-family:inherit;font-size:12pt;">&#32;Ten (10) annual installments are payable to the Designated Beneficiary(ies), commencing on the first of the month following the date of the Participant&#8217;s death. The first installment shall be derived from the Single-Sum Amount plus Earnings, if any, divided by ten (10). Subsequent annual installments shall be amounts equal to the Participant&#8217;s unpaid Single-Sum Amount plus Earnings divided by the number of remaining annual payments. The first annual installment will be payable as soon as administratively feasible after the Designated Beneficiary(ies) have been confirmed and located. This payment is subject to the cash out rules described in Section 5.9 of the Plan. </font></div><div><br></div><div></div><hr style="page-break-after:always"><div></div><div><br></div><div style="line-height:120%;padding-bottom:16px;text-align:center;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">2.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text