EXHIBIT 10-B
AMENDMENT NO. 1
TO THE
McDONALD'S SUPPLEMENTAL EMPLOYEE BENEFIT
EQUALIZATION PLAN
("McCAP II")
WHEREAS, McDonald's Corporation (the "Company") established the
McDonald's Supplemental Employee Benefit Equalization Plan
("McCap II") and amended and restated McCap II most recently effective
January 1, 1990; and
WHEREAS, the Company has given the Committee responsible for its
administration the right to amend McCap II in Section 5 thereof; and
WHEREAS, the Committee now desires to amend McCap II to provide a
procedure for the payment of benefits thereunder to a spouse, child or
other dependent pursuant to a state court domestic relations order;
NOW, THEREFORE, BE IT RESOLVED, that McCap II is hereby amended
effective January 1, 1993 as follows:
I
The following sentence shall be added to Section 2.5(a) at
the end thereof:
Notwithstanding the foregoing, no distribution shall be made
in accordance with the first sentence of this Section 2.5(a)
on account of the payment under the McDESOP portion of the
Profit Sharing Program of a distribution from the account of
a participant who is at the time of distribution a
McDonald's employee, including a distribution made from the
Profit Sharing Program in accordance with a Qualified
Domestic Relations Order.
II
The following sentence shall be added to Section 2.5(b) at
the end thereof:
Notwithstanding the foregoing, no distribution shall be made
in accordance with the first sentence of this Section 2.5(b)
on account of the payment under the Profit Sharing Plan
portion of the Profit Sharing Program of a distribution from
the account of a participant who is at the time of
distribution a McDonald's employee, including a distribution
made from the Profit Sharing Program in accordance with a
Qualified Domestic Relations Order.
III
A new Section 3.8 shall be added to read as follows:
3.8 Qualified Domestic Relations Order.
(a) Notwithstanding the provision of Section 3.3, the
Committee shall comply with the provisions of any
order determined by the Committee to be a
Qualified Domestic Relations Order.
(b) "Qualified Domestic Relations Order" means any
judgment, decree, or order (including approval of
a property settlement agreement):
(1) which is made pursuant to a state domestic
relations law (including a community property
law);
(2) which relates to the provision of child
support, alimony payments, or marital
property rights to a spouse, former spouse,
child, or other dependent of a Participant;
(3) which creates or recognizes the existence of
an alternate payee's right to or assigns to
an alternate payee the right to receive all
or a portion of the Participant's Accrued
Benefit under the Plan; and
(4) with respect to which the requirements of
paragraphs (c) and (d) are met.
(c) A domestic relations order can be a Qualified
Domestic Relations Order only if such order
clearly specifies:
(1) the name and last known mailing address, if
any, of the Participant and the name and
mailing address of each alternate payee
covered by the order;
(2) the amount or percentage of the Participant's
Accrued Benefit to be paid by the Plan to
each such alternate payee, or the manner in
which such amount or percentage is to be
determined;
(3) the number of payments or period to which
such order applies; and
(4) each plan to which such order applies.
(d) A domestic relations order can be a Qualified
Domestic Relations Order only if such order does
not
(1) require the Plan to provide any type or form
of benefit, or any option not otherwise
provided under the Plan;
(2) require the Plan to provide increased
benefits (determined on the basis of
actuarial value); or
(3) require the payment of benefits to an
alternate payee which are required to be paid
to another alternate payee under another
order previously determined to be a Qualified
Domestic Relations Order.
(e) In the case of any payment before a Participant
has had a termination of employment, a domestic
relations order shall not be treated as failing to
meet the requirements of Section 3.8(d)(1) solely
because such order requires that payment of
benefits be made to an alternate payee:
(1) in the case of any payment before a
Participant has had a termination of
employment, on or after the earlier of:
(i) the date on which the Participant is
entitled to receive benefits under the
Plan, or
(ii) the later of (A) the date the
Participant attains age 50, or (B) the
earliest date on which the Participant
could begin receiving benefits under the
Plan if the Participant had a
termination of employment;
(2) as if the Participant had retired on the date
on which such payment is to begin under such
order; and
(3) in any form in which such benefits may be
paid under the Plan to the Participant.
IN WITNESS WHEREOF, the Committee has caused an authorized
officer of the Company to execute this Amendment No. 1 in multiple
originals this 1st day of July, 1993.
By: /s/ Stanley R. Stein
Title: Senior Vice President