Ex.
10(iii)A(89)
AMENDMENT NO.
3
TO
ACUITY BRANDS, INC.
2005 SUPPLEMENTAL DEFERRED
SAVINGS PLAN
THIS AMENDMENT
made as of this 24th day of October, 2008, by ACUITY BRANDS, INC.
(the “Company”);
W
I T
N E S S E T H
:
WHEREAS, the
Company established the Acuity Brands, Inc. 2005 Supplemental
Deferred Savings Plan, which was generally effective as of
January 1, 2005 (the “Plan”), subject to the
transition rules of Section 409A;
WHEREAS, the
Company now desires to amend the Plan in the manner hereinafter
provided;
NOW, THEREFORE,
the Plan is hereby amended, as follows:
1.
Section 2.31
is hereby amended by deleting the present Section in its entirety
and substituting the following in lieu thereof:
“2.31
“ Retirement Account ” means the account
established for the Participant which will be payable in the manner
elected by the Participant if the Participant terminates employment
upon death, Disability, or after attaining age 55 and completing at
least five Years of Service.”
2.
Article V is
hereby amended by deleting the present Article V in its
entirety and substituting the following in lieu thereof:
“ARTICLE
V
PAYMENT OF
ACCOUNTS
5.1 Timing and
Form of Payment .
(a) Subject to
subsection (h) below, on the Election Form, the Participant
shall make an election as to the timing and form of payment for any
Participant deferrals for such Plan Year and the form of payment
for any Employer contribution credits for such Plan Year pursuant
to Section 4.1 (such contributions are automatically credited
to the Participant’s Retirement Account) from among the
options set forth below for the Participant’s Retirement
Account and for any Cash In-Service Account. Once the Participant
elects a form of payment for the Retirement Account, and the time
and form of payment for any Cash In-Service Account, those
elections may only be changed twice and only in accordance with
subsection (e) below.
(b) The
Participant will be entitled to payment of his Retirement Account
in accordance with his payment election if he terminates employment
upon death, Disability, or after attaining age 55 and completing
five or more Years of Service. The Participant may elect that the
vested amount of his Retirement Account be distributed in a lump
sum, or in annual payments for a period of up to ten
(10) years, provided that if the balance of the
Participant’s Account is less than $15,000, the
Participant’s Account will automatically be paid in a lump
sum. For example, under the 10-year annual payment method, the
first year’s payment will equal one tenth (1/10) of the
total Account, the second year’s will equal one ninth
(1/9) of the remaining Account, and so forth. Subject to
subsection (h) below, payment of the Participant’s
Retirement Account shall be made (i) if the payment is in a
lump sum, within 90 days after the event entitling the Participant
to payment, or (ii) if the payment is in installments,
commencing in the January following the event entitling the
Participant to payment.
(c) The
Participant may elect to have a Cash In-Service Account payable (or
commence to be paid) during January of the year selected by the
Participant on the Election Form (which initial payment date may
not be earlier than two years after the end of the calendar year
during which amounts are first credited to such Account), in a lump
sum or in annual payments over a period of up to ten
(10) years, in the manner provided in (a) above, as
applicable; provided, that any subsequent deferrals to such
designated Cash In-Service Account must be made no later than the
end of the calendar year ending two years prior to such payment
date; provided, further, that a Participant may only establish such
number of Cash In-Service Accounts for his Account as may be
permitted by the Plan Administrator (or his designee) and the Plan
Administrator may increase the minimum deferral period for Cash
In-Service Accounts. Notwithstanding the Participant’s
elections under this Section 5.1(c), in the event the
Participant becomes entitled to payment of his Retirement Account
under subsection (b) above or to his Account under
Section 5.2 below, the remaining balance of the
Participant’s Account shall be payable in accordance with the
provisions for payment under subsection (b) or under
Section 5.2 (whether or not the Cash In-Service Account was in
payment status at such time).
(d) The
Participant will designate each Plan Year which portion of the
Participant’s deferrals for such Plan Year shall be credited
to the Participant’s Retirement Account and any Cash
In-Service Accounts he has established. If a Participant’s
Account is distributed
