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
