Sixth Amendment 71605-06110 -2- March 19, 2002 4:47 PM Burns/Amendment/Sixth Amendment March 19, 2002 4:47 PM SIXTH AMENDMENT TO THE PHOENIX COMPANIES, INC. NON-QUALIFIED SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN BY THIS AGREEMENT, The Phoenix Companies, Inc. Non-qualified Supplemental Executive Retirement Plan (the "Plan"), as amended and restated effective January 1, 1989, is amended by this Sixth Amendment, effective December 1, 2001. 1. Section 4.6 of the Plan is hereby amended in its entirety to read as follows: "(a) The payment of benefits to which a Participant or Beneficiary shall be entitled under this Supplemental Plan shall be made in the same form and manner and at the same time as is applicable or elected under the Employee Pension Plan. (b) In addition to the benefit forms available under the Employee Pension Plan, a Participant or Beneficiary may elect to receive payment of his benefits in a single lump sum, the present value of which shall be determined based upon the factors for Actuarial Equivalence set forth in the Employee Pension Plan, provided, however, that with respect to a Participant, such election shall become effective only if all of the following conditions are satisfied: (i) such Participant remains in the employment of the Employer for the full twelve (12) calendar months immediately following the date of such election (the "Election Date"), except in the case of the death of such Participant or such Participant's becoming Disabled (in which case Section 4.6(c) shall apply), and (ii) such Participant complies with the administrative procedures set forth by the Administrator with respect to the making of such lump sum election. It is hereby provided, however, that the Administrator, in its sole discretion, may elect to waive the twelve month period set forth above. (c) In the event a Participant who has made a lump sum election pursuant to Section 4.6(b) dies or becomes Disabled while employed by the Employer during the 12-month period immediately following the Election Date, the 12-month condition shall be deemed satisfied with respect to such Participant." (d) It is hereby provided that, if the Participant elects to participate in the Phoenix OPT Plan (a separate non-qualified retirement plan maintained by The Phoenix Companies, Inc.), the Employer's obligation for payment of benefits under this Plan shall be irrevocably cancelled and the Participant shall have no rights or claims for benefits under this Plan. IN WITNESS WHEREOF, this Sixth Amendment has been executed this ____ day of December, 2001. Phoenix Life Insurance Company Benefit Plans Committee Witness By
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10-K Filing
Phoenix Companies (PNX) Inactive 10-K2001 FY Annual report
Filed: 27 Mar 02, 12:00am