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ALLEGHENY ENERGY SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN

Employee Benefits Plan Agreement

ALLEGHENY ENERGY
SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN You are currently viewing:
This Employee Benefits Plan Agreement involves

ALLEGHENY ENERGY, INC

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Title: ALLEGHENY ENERGY SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN
Governing Law: Pennsylvania     Date: 11/7/2007
Industry: ELECTU     Sector: Utilities

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Ex-10.8
 

Exhibit 10.8
ALLEGHENY ENERGY
SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN
(Amended and Restated as of January 1, 2008)

 


 

Table of Contents
                 
            Page  
1.   INTRODUCTION     1  
 
               
 
  1.1   History and Purpose     1  
 
  1.2   Effective Date     1  
 
               
2.   DEFINITIONS     1  
 
               
 
  2.1   Accrued Benefit     1  
 
  2.2   Affiliate     1  
 
  2.3   “Beneficiary” or “Beneficiaries”     1  
 
  2.4   Board of Directors     1  
 
  2.5   Cause     1  
 
  2.6   Code     2  
 
  2.7   Committee     2  
 
  2.8   Company     2  
 
  2.9   Compensation     2  
 
  2.10   Contingent Annuitant Option     2  
 
  2.11   Early Retirement Date     2  
 
  2.12   Eligible Employee     2  
 
  2.13   Employee     3  
 
  2.14   ERISA     3  
 
  2.15   Final Average Compensation     3  
 
  2.16   Normal Retirement Date     3  
 
  2.17   Other Supplemental Plan Reduction     3  
 
  2.18   Participant     3  
 
  2.19   Plan     3  
 
  2.20   Qualified Joint and Survivor Annuity     3  
 
  2.21   Retirement Plan     3  
 
  2.22   Retirement Plan Reduction     3  
 
  2.23   Single Life Annuity     4  
 
  2.24   Surviving Spouse     4  
 
  2.25   Year of Service     4  
 
               
3.   PARTICIPATION AND ELIGIBILITY     4  
 
               
 
  3.1   Current Participants     4  
 
  3.2   New Participants     4  
 
  3.3   Eligibility Requirements     4  
 
  3.4   Termination of Participation     5  
 
  3.5   Additional Age and Service     5  
 
               
4.   RETIREMENT BENEFITS     6  
 
               
 
  4.1   Determination of Accrued Benefit     6  
 
  4.2   Normal Retirement Benefit     6  
 
  4.3   Early Retirement Benefit     6  

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Table of Contents
(continued)
                 
            Page  
 
  4.4   Timing and Form of Payment for the Accrued Benefit     7  
 
  4.5   Benefit Computation     7  
 
               
5.   DEATH BENEFITS     7  
 
               
 
  5.1   Death Before Commencement of Benefits     7  
 
  5.2   Death After Commencement of Benefits     8  
 
  5.3   Designating a Beneficiary     8  
 
               
6.   VESTING     8  
 
               
7.   FUNDED NATURE OF THE PLAN     8  
 
               
8.   ADMINISTRATION OF THE PLAN     9  
 
               
 
  8.1   Authority of the Committee     9  
 
  8.2   Delegation of Authority     9  
 
  8.3   Compensation and Expenses     9  
 
  8.4   Liability of the Committee and Board; Indemnification     9  
 
               
9.   AMENDMENTS AND TERMINATION     9  
 
               
10.   CLAIMS PROCEDURES     10  
 
               
11.   MISCELLANEOUS     11  
 
               
 
  11.1   Construction     11  
 
  11.2   Taxes     11  
 
  11.3   Governing Law     11  
 
  11.4   No Right of Employment     11  
 
  11.5   Payment in Satisfaction of Claims     11  
 
  11.6   No Alienation of Benefits     12  
 
  11.7   Incapacity     12  
 
  11.8   Adjustment     12  
 
  11.9   Compliance With Code Section 409A     12  
 
               
Appendix A         i  

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