SEC Contract Filing

Filing Date: 2023-02-24

Document Content:
<DOCUMENT>
<TYPE>EX-10.79
<SEQUENCE>5
<FILENAME>cb-12312022xex1079.htm
<DESCRIPTION>EX-10.79
<TEXT>
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<title>Document</title></head><body><div id="i71735e658764461fb85a7c8650b7b72c_33"></div><div style="min-height:72pt;width:100%"><div><font><br></font></div></div><div style="text-align:right"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:112%;text-decoration:underline">Exhibit 10.79</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:112%">Chubb US </font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:112%">DEFERRED COMPENSATION PLAN </font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:112%">(As Amended and Restated Effective January 1, 2023)</font></div><div><font><br></font></div><div><font><br></font></div><div style="text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:112%">The purpose of the Chubb US Deferred Compensation Plan (the &#8220;Plan&#8221;) sponsored by Chubb INA Holdings, Inc. (the &#8220;Company&#8221;) is to attract and retain key employees by providing each participant with an opportunity to defer receipt of a portion of compensation. The Plan is not intended to meet the qualification requirements of Code Section 401(a) but is intended to meet the requirements of Code Section 409A and shall be operated and interpreted consistent with that intent. </font></div><div><font><br></font></div><div style="text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:112%">The Plan is intended (1) to comply with Code Section 409A, the final regulations and official guidance issued thereunder for credited amounts earned and vested after December 31, 2004, while credited amounts earned and vested prior to January 1, 2005 (and applicable earnings credited on these amounts) are not intended to be subject to the provisions of Code Section 409A (the &#8220;Grandfathered Amounts&#8221;), to the fullest extent permitted by Code Section 409A and official guidance, and (2) to be &#8220;a plan which is unfunded and is maintained by an employer primarily for the purpose of providing deferred compensation for a select group of management or highly compensated employees&#8221; within the meaning of sections 201(2), 301(a)(3) and 401(a)(1) of ERISA. Notwithstanding any other provision of this Plan, this Plan shall be interpreted, operated and administered in a manner consistent with these intentions. The Plan document and Plan procedures in effect on December 31, 2004 remain in full force and effect for the Grandfathered Amounts. </font></div><div><font><br></font></div><div style="text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:112%">The Plan was last amended and restated effective January 1, 2011. Following the merger of Chubb Corporation and ACE, the Plan was amended effective January 1, 2017 to reflect the name change of the Plan sponsor and provide that employees who would have been eligible to participate under the Chubb Corporation Key Employee Deferred Compensation Plan were eligible to participate in the Plan. The Plan was then amended effective January 1, 2021 to comply with the Tax Cuts and Jobs Act of 2017. The Plan is hereby amended and restated effective January 1, 2023 to reflect certain administrative changes desired by the Company.</font></div><div><font><br></font></div><div><font><br></font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:112%">SECTION 1</font></div><div><font><br></font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:112%">DEFINITIONS</font></div><div><font><br></font></div><div style="text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:112%">Wherever used herein the following terms shall have the meanings hereinafter</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-style:italic;font-weight:400;line-height:112%"> </font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:112%">set forth&#58;</font></div><div><font><br></font></div><div style="text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:112%">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:112%;text-decoration:underline">Account</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:112%">&#8221; means a bookkeeping account established by the Company for each Participant electing to defer Eligible Income under the Plan.</font></div><div><font><br></font></div><div style="text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:112%">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:112%;text-decoration:underline">Affiliate</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size