Exhibit 10.2
COCA-COLA ENTERPRISES
INC.
SUPPLEMENTAL MATCHED EMPLOYEE
SAVINGS AND INVESTMENT PLAN
(AMENDED AND RESTATED EFFECTIVE
DECEMBER 31, 2008)
ARTICLE I
INTRODUCTION AND
PURPOSE
1.1. Purpose . The
purpose of the Coca-Cola Enterprises Inc. Supplemental Matched
Employee Savings and Investment Plan (the “Plan”) is to
provide a select group of management and highly compensated
employees with the opportunity to enhance their retirement security
by deferring a portion of their compensation under the
Plan.
1.2. Amendment and
Restatement . Coca-Cola Enterprises Inc. hereby amends and
restates the Plan, effective December 31, 2008. This amended
and restated Plan applies to all Participants, including former
Employees, with an Account under the Plan who had not commenced
payments by December 31, 2008. Participants who had commenced
payments by December 31, 2008 shall continue to be paid in
accordance with the form of payment then in effect.
ARTICLE II
DEFINITIONS
2.1. “ Account
” means the record maintained by the Administrative Committee
that represents each Participant’s interest under the Plan.
Such interest may be reflected as a book reserve entry in the
Company’s accounting records, or as a separate account under
a trust, or as a combination of both methods. Each
Participant’s Account shall consist of at least two
subaccounts: a Deferral Account and an Employer Matching
Account.
2.2. “ Administrative
Committee ” means the committee appointed pursuant to
Article VI to administer the Plan or such committee’s
designee.
2.3. “
Affiliates ” means all entities treated as a
single service recipient or employer with the Company pursuant to
Code section 409A.
2.4. “
Beneficiary ” means (i) the beneficiary
designated by the Participant in accordance with the procedures
established by the Administrative Committee, (ii) if the
Participant has not designated a beneficiary or such beneficiary is
no longer living, the Participant’s Surviving Spouse, and
(iii) if there is no designated beneficiary or Surviving
Spouse, the Participant’s estate.
2.5. “ Code
” means the Internal Revenue Code of 1986, as amended.
Reference to any section of the Code includes reference to any
regulations promulgated thereunder, and any related administrative
guidance, notice, or ruling that amends or supplements such
section.
2.6. “ Company
” means Coca-Cola Enterprises Inc., a Delaware corporation,
or its successor or successors.
2.7. “
Compensation ” means those amounts included in
the definition of Compensation under the MESIP. For purposes of
this Plan, “Compensation” shall be determined without
regard to the limits of Code section 401(a)(17), and shall include
amounts deferred under this Plan, but shall exclude the amount of a
Participant’s MIP Award, whether or not deferred
hereunder.
2.8. “ Deferral
Account ” means that portion of each
Participant’s Account that represents his interest in the
Plan that is credited pursuant to Sections 4.1(a) and
4.1(c).
2.9. “ Deferral
Election ” means a Participant’s election to
defer a portion of his Compensation and/or his MIP Award, which
election must be made in the manner required by the Administrative
Committee.
2.10. “ Eligible
Employee ” means any Employee who satisfies the
criteria for participation in the Plan, as established by the
Administrative Committee.
2.11. “ Employee
” means any person who is an employee on the payroll of the
Employer and shall exclude any person not on the payroll of the
Employer, such as an independent contractor or person paid by a
temporary staffing or similar agency, even if a court or
administrative agency determines at any time that such an
individual is a common law employee of the Employer.
2.12. “ Employer
” means the Company or any Participating Company.
2.13. “ Employer
Matching Account ” means that portion of each
Participant’s Account that represents his interest in the
Plan that is credited pursuant to Sections 4.1(b) and
4.1(c).
2.14. “ Enrollment
Period ” means any period designated by the
Administrative Committee during which an Eligible Employee is
permitted to make a Deferral Election.
2.15. “ Initial
Enrollment Period ” means the period designated by
the Administrative Committee in connection with an Eligible
Employee’s initial employment with the Employer during which
an Eligible Employee is permitted to make a Deferral Election;
provided, however, that the Initial Enrollment Period shall end no
later than the date that is 30 days after the date that the
Employee first becomes eligible to participate in the Plan or any
other plan required to be aggregated with the Plan pursuant to
Treas. Reg. § 1.409A-1(c)(3)(viii).
2.16. “ MESIP
” means the Coca-Cola Enterprises Inc. Matched Employee
Savings and Investment Plan.
2.17. “ MIP
Award ” means the cash bonus payable under the
Company’s Management Incentive Plan.
2.18. “ Open Enrollment
Period ” means any period designated by the
Administrative Committee, other than an Initial Enrollment Period,
during which an Eligible Employee is permitted to make a Deferral
Election.
2.19. “
Participant ” means an Eligible Employee who
satisfies the requirements for participation in the Plan and makes
a Deferral Election pursuant to Article III. Any current or former
Employee who has an interest under the Plan shall also be
considered a Participant, even though such Employee is ineligible
to make a Deferral Election.
2.20. “ Participating
Company ” shall mean an Affiliate that has adopted
the Plan with the consent of the Company or the Administrative
Committee.
2.21. “ Plan
” means the Coca-Cola Enterprises Inc. Supplemental Matched
Employee Savings and Investment Plan, as amended.
2.22. “ Plan
Year ” means the 12-month period beginning each
January 1st and ending on the next
December 31st.
2.23. “ Separation from
Service ” means a separation from service, within the
meaning of Code section 409A, with the Employer and all Affiliates,
applying the special rules regarding military service and periods
of leave treated as continued employment pursuant to Treas. Reg.
§1.409A-1(h)(1)(i) and using a 50% threshold for the level of
service rather than 20% under Treas. Reg.
§1.409A-1(h)(1)(ii).
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2.24. “ Surviving
Spouse ” shall mean a spouse who is married to the
Participant as of the date of the Participant’s death and who
survives the Participant.
ARTICLE III
PARTICIPATION AND DEFERRAL
ELECTIONS
3.1. Participation
.
(a) Compensation Deferral
Election . An Eligible Employee may make a Deferral
Election with respect to Compensation during the following
periods:
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(1)
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in
the case of an Eligible Employee becoming eligible to participate
in the Plan in connection with being hired by the Employer, during
the Initial Enrollment Period, with such Deferral Election to be
effective with respect to Compensation earned during or after the
first full pay period of the first month following the end of the
Initial Enrollment Period and through the last pay period that
begins in the year of the election; or
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(2)
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in
all other cases, during an Open Enrollment Period ending no later
than December 31 of the Plan Year, with such Deferral Election
to be effective with respect to Compensation earned during and
after the first full pay period that begins on or after
January 1 next following such Open Enrollment Period and
through the last pay period that begins in the same
year.
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(b) MIP Deferral
Election . An Eligible Employee may make a Deferral
Election during an Open Enrollment Period with respect to his MIP
Award payable for services performed in the Plan Year following
such Open Enrollment Period. Such Open Enrollment Period shall end
no later than December 31 of the Plan Year preceding the year
in which the services relating to the MIP Award are performed. For
example, an Eligible Employee’s Deferral Election made during
the 2009 Open Enrollment Period with respect to his MIP Award will
apply to his MIP Award earned in 2010 and paid in 2011.
(c) Employer Matching
Contributions . A Participant with an effective Deferral
Election in place shall be eligible to have Employer matching
contributions credited to his Employer Matching Account under
Section 4.1(b).
3.2. Limitation on Amount of
Deferral Election . An Eligible Employee may elect to defer
any whole percentage of his Compensation and/or MIP Award, subject
to any maximum established by the Administrative Committee. Until
changed by the Administrative Committee, a Participant’s
Deferral Election shall not exceed 70% of his Compensation for any
payroll period and/or 70% of any MIP Award.
3.3. Change in Deferral
Election . Deferral Elections shall remain in effect until
changed or revoked pursuant to this Section 3.3 or
Section 3.5. A Participant may, during any Open Enrollment
Period in which he is an Eligible Employee, increase or decrease
the percentage of an existing Deferral Election or revoke an
existing Deferral Election with respect to Compensation or an MIP
Award to be paid for services performed in the Plan Year next
following such Open Enrollment Period, provided: (a) such
change must be made during, and shall become irrevocable at the end
of, the Plan Year during which such Open Enrollment Period occurs;
and (b) such Open Enrollment Period shall end no later than
December 31 of the Participant’s taxable year prior to
the Participant’s taxable year in which the services relating
to the Compensation or MIP Award will be performed. A Participant
may not otherwise revoke or change the percentage of an existing
Deferral Election.
3.4. Rehired Employees
. A rehired Eligible Employee shall be permitted to make an
Deferral Election under Section 3.1(a)(2), but shall not be
permitted to make a Deferral Election under
Section 3.1(a)(1).
3.5. Cancellation of Deferrals
Upon Hardship . In the event that a Participant receives a
hardship distribution in a Plan Year pursuant to Treas. Reg.
§1.401(k)-1(d)(3) under any section 401(k) plan of the
Employer
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or an Affiliate or pursuant to Section 5.7
of this Plan, the Participant’s Deferral Election shall be
cancelled with respect to any Compensation or MIP Award to be paid
during the remainder of such Plan Year and any future Plan Year;
provided, however, that (a) in the case of a hardship
distribution under a section 401(k) plan, the Participant may elect
during the next Open Enrollment Period that is at least six months
after such hardship distribution occurs to make a new Deferral
Election in accordance with the procedures set forth in this
Article III, and (b) in the case of a hardship distribution
under Section 5.7 of this Plan, the Participant may elect
during the next Open Enrollment Period to make a new Deferral
Election in accordance with the procedures set forth in this
Article III.
ARTICLE IV
ACCRUAL OF
BENEFITS
4.1. Participants’
Accounts .
(a) Deferral Account .
Each Participant’s Deferral Account shall be credited with an
amount equal to the portion of the Compensation or MIP Award
deferred by the Participant as soon as practicable after such
amount would oth