Exhibit(10)(iii)(A)(17.14)
AMENDMENT TO
CINCINNATI BELL MANAGEMENT
PENSION PLAN
The Cincinnati Bell Management
Pension Plan (the “Plan”) is hereby amended, effective
as of January 1, 2008, by adding a new Article 20 reading
as follows immediately after the current Article 19 of the
Plan.
ARTICLE 20
2008 SPECIAL EARLY RETIREMENT
BENEFITS
20.1 Overview . This Article
20 is effective as of January 1, 2008 and provides for special
benefits to be provided certain Participants who accepted an early
retirement offer of the Participating Employers, all as is provided
for in the following provisions of this Article 20.
20.2 Special Definitions .
For purposes of this Article 20 only, the following terms shall
have the meanings hereinafter set forth.
20.2.1 The term “Eligible
Participant” means any person who was eligible under
Section 20.3 below to be provided the early retirement offer
described in this Article 20.
20.2.2 The term “Extra Lump
Sum Formula Amount” means, with respect to any Eligible
Participant who accepted the early retirement offer provided under
this Article 20 and subject to paragraphs (a) and (b) of
this Subsection 20.2.2, an amount equal to the sum of: (1) the
product obtained by multiplying (A) a dollar amount equal to
two weeks value of the Eligible Participant’s base rate of
pay as determined on October 1, 2007 by (B) the number of
the whole years included in the Eligible Participant’s Net
Credited Service as determined on October 1, 2007, up to but
not in excess of 17 such years; and (2) the product obtained
by multiplying (A) a dollar amount equal to four weeks value
of the Eligible Participant’s base rate of pay as determined
on October 1, 2007 by (B) the number of the whole years
included in the Eligible Participant’s Net Credited Service
as determined on October 1, 2007 in excess of 17 such
years.
(a) Notwithstanding the foregoing
provisions of this Subsection 20.2.2, an Eligible
Participant’s “Extra Lump Sum Formula Amount”
shall in no event be deemed to exceed an amount equal to 78 weeks
value of the Eligible Participant’s base rate of pay as
determined on October 1, 2007.
(b) For purposes of this Subsection
20.2.2, if prior to October 1, 2007 an Eligible Participant
was assigned to a sales division of a Participating Employer and
received Sales Incentive Compensation Awards, all such awards paid
to him for the twelve month period ending on the day immediately
preceding October 1, 2007 shall be taken into account in
determining his base rate of pay on October 1, 2007. In
addition, for purposes of this Subsection 20.2.2 and except as is
provided in the immediately preceding
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sentence, night differentials,
overtime pay, team incentive and other awards, bonuses, and any
other amounts not part of an Eligible Participant’s basic
rate of scheduled pay shall not be included in determining such
Eligible Participant’s base rate of pay.
20.2.3 The term “Normal
Retirement Extra Single Life Annuity Benefit” means, with
respect to any Eligible Participant who accepted the early
retirement offer described in this Article 20 and when determined
as of any date (for purposes of this Subsection 20.2.3, the
“subject date”), a hypothetical Single Life Annuity
payable to the Eligible Participant that both (a) commences to
be paid as of the later of the Eligible Participant’s Normal
Retirement Date or the Eligible Participant’s Offer
Retirement Date and (b) has a monthly amount that is
actuarially equivalent to a hypothetical single sum payment that
both is made as of the subject date and is equal to the Eligible
Participant’s Extra Lump Sum Formula Amount. The actuarial
assumptions to be used in making such actuarially equivalent
calculation shall be solely the applicable interest rate and
applicable mortality assumption that are in effect under
Section 11.5 above for a benefit for which the subject date is
the benefit’s commencement date.
20.2.4 The term “Offer
Retirement Date” means, with respect to any Eligible
Participant who accepted the early retirement offer described in
this Article 20, the date the Participant ceases to be an Employee
pursuant to such offer.
20.2.5 The term “Net Credited
Service” means, with respect to any Eligible Participant, the
Eligible Participant’s Term of Employment that would be
determined under the terms of the Prior Pension Plan if all
references to a “Covered Employee” in such Prior
Pension Plan were deemed to be references to an
“Employee” (and if section 4.1.8 of such Prior Pension
Plan were disregarded).
20.3 Eligible Participants .
Any person was eligible to be offered the early retirement offer
described in this Article 20 if, and only if, he met the following
conditions:
20.3.1 He was on October 1,
2007 both a Covered Employee and a Participant in the Plan;
and
20.3.2 He would by December 31,
2009, if he remained an Employee from October 1, 2007 to
December 31, 2009, either (a) have Net Credited Service
of 30 or more years, (b) both be age 50 and have Net Credited
Service of 25 or more years, (c) both be age 55 and have Net
Credited Service of 20 or more years, or (d) both be age 60
and have Net Credited Service of 10 or more years; and
20.3.3 He was or is not prevented by
the Participating Employers from accepting the early retirement
offer provided under this Article 20 because of business needs of
the Participating Employers. In this regard, the Participating
Employers may take actions to exclude employees performing certain
jobs from
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being eligible for such offer and/or
to limit the number of employees in the Participating Employers in
the aggregate, or in any department, job, or other unit, who will
be permitted to accept such offer.
20.4 Offer .
20.4.1 The Participating Employers
delivered or mailed written material to each Eligible Participant
setting forth the early retirement offer described in this Article
20 on or about December 7, 2007.
20.4.2 Such early retirement offer
provided that an Eligible Participant shall receive the benefits
described in Sections 20.5 and 20.6 below if, and only if, the
Eligible Participant satisfies all of the conditions set forth in
the following paragraphs of this Subsection 20.4.2.
(a) He voluntarily terminated or
terminates his employment with the Affiliated Employers on such
date as was or is requested or agreed to by the Participating
Employers, which date shall, except as is indicated in the
immediately following sentence, not be earlier than
December 7, 2007 or later than December 31, 2010.
However, if the Eligible Participant terminated his employment with
the Affiliated Employers between October 1, 2007 and
December 7, 2007, he shall be deemed for all purposes of this
Article 20 to have voluntarily terminated his employment with the
Affiliated Employers on a date that was requested or agreed to by
the Participating Employers and to have met the condition set forth
in this paragraph (a).
(b) He accepted the early retirement
offer described in this Article 20 by, and only by, signing a form
prepared by the Participating Employers for this purpose (which
form set forth the Eligible Participant’s agreement to accept
the offer and, if appl
