SEC Contract Filing

Filing Date: 2020-02-20

Document Content:
<DOCUMENT>
<TYPE>EX-10.A24
<SEQUENCE>8
<FILENAME>x10a24-q42019.htm
<DESCRIPTION>EXHIBIT 10.A24
<TEXT>
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<div><a name="sFF8F2003399DE45C00E3117EB5B99F9D"></a></div><div></div><div><br></div><div style="line-height:120%;padding-bottom:8px;text-align:right;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Exhibit 10(a)24</font></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;">SIXTH 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;">&#32;the Board of Directors of 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;); </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 (the &#8220;Committee&#8221;) may amend the Plan, provided the amendment either (a) does not involve a substantial increase in cost to any Affiliated Employer, 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;">&#32;the Committee, in its settlor capacity, desires to amend the Plan to reflect the new method of allocating SERP Benefit liability for Participants who have been employed by more than one Affiliated Employer.</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;">&#32;pursuant to the Resolution adopted on November 8, 2019, the Committee hereby amends the Plan as follows, effective as specified herein:</font></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;">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 January 1, 2019, the Plan is hereby amended by deleting Section&#160;5.4 in its entirety and replacing it with the following:</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;">5.4&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Allocation of SERP Benefit Liability</font><font style="font-family:inherit;font-size:12pt;">. If a Participant entitled to a SERP Benefit has been employed by more than one Affiliated Employer, then the Affiliated Employer that employed the Participant as of the date of his Separation from Service, as determined by the Administrative Committee, will be responsible for payment of the entire SERP Benefit liability to such Participant. However, settlement of obligations of the SERP Benefit liability for Participants who transfer employment shall occur among the Affiliated Employers using the methods described in this Section&#160;5.4.</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;">(a)&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;font-style:italic;">Transfers On or After January 1, 2019</font><font style="font-family:inherit;font-size:12pt;">. With respect to a Participant with a SERP Benefit who transfers employment from one Affiliated Employer to another Affiliated Employer on or after January 1, 2019, the prior Affiliated Employer shall be responsible for paying the Participant&#8217;s SERP Benefit earned through the date of the Participant&#8217;s transfer. </font></div><table cellpadding="0" cellspacing="0" style="padding-bottom:16px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:192px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:12pt;padding-left:144px;"><font style="font-family:inherit;font-size:12pt;">(1)</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;font-style:italic;">Calculation</font><font style="font-family:inherit;font-size:12pt;">. The amount of money to be transferred to the new Affiliated Employer by the prior Affiliated Employer as payment for the transferred liability shall be the Participant&#8217;s accumulated benefit obligation under Accounting Standards Codification Section 715 as of December 31 of the year during which he transfers employment, using data, assumptions, methods, and Plan provisions as of the applicable ASC 715 measurement date. </font></div></td></tr></table><table cellpadding="0" cellspacing="0" style