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CODE SECTION 409A AMENDMENT
TO
TENNECO INC. SUPPLEMENTAL PENSION PLAN FOR
MANAGEMENT
WHEREAS, Tenneco
Inc. (the “Company”) has established the Tenneco Inc.
Supplemental Pension Plan for Management (also referred to as the
“KEPP,” the “Plan”); and
WHEREAS, amendment
of the Plan for compliance with Section 409A of the Internal
Revenue Code of 1986, as amended, and the Treasury regulations
issued thereunder now is considered desirable;
NOW, THEREFORE, by
virtue and in exercise of the power reserved to the Company and
granted to the undersigned officer of the Company by
Section 12 of the Plan, the Plan be and is amended, effective
January 1, 2008, in the following particulars:
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1.
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By
deleting the first paragraph of Section 4 of the Plan in its
entirety and substituting the following:
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“The Plan
Benefit shall be paid in a single lump sum payment within
90 days after the later of (a) the Participant’s
Termination Date or (b) the date on which he attains age
55.”
2. By adding the following new
Section 13:
(a) The
time and form of payment of the Participant’s Plan Benefit as
described in Section 4, if any, shall be made in accordance with
such Section, provided that with respect to termination of
employment for reasons other than death, the payment at such time
can be characterized as a ‘short-term deferral’ for
purposes of Code Section 409A or as otherwise exempt from the
provisions of Code Section 409A, or if any portion of the
payment cannot be so characteriz
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