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AMERISOURCEBERGEN DRUG CORPORATION SUPPLEMENTAL RETIREMENT PLAN

Employee Benefits Plan Agreement

AMERISOURCEBERGEN DRUG CORPORATION SUPPLEMENTAL RETIREMENT PLAN | Document Parties: AMERISOURCEBERGEN CORPORATION | AmerisourceBergen Drug Corporation Participating Companies You are currently viewing:
This Employee Benefits Plan Agreement involves

AMERISOURCEBERGEN CORPORATION | AmerisourceBergen Drug Corporation Participating Companies

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Title: AMERISOURCEBERGEN DRUG CORPORATION SUPPLEMENTAL RETIREMENT PLAN
Governing Law: Pennsylvania     Date: 11/25/2008
Industry: Biotechnology and Drugs     Sector: Healthcare

AMERISOURCEBERGEN DRUG CORPORATION SUPPLEMENTAL RETIREMENT PLAN, Parties: amerisourcebergen corporation , amerisourcebergen drug corporation participating companies
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Exhibit 10.2

AMERISOURCEBERGEN DRUG CORPORATION

SUPPLEMENTAL RETIREMENT PLAN

(Amended and Restated November 24, 2008)


AMERISOURCEBERGEN DRUG CORPORATION

SUPPLEMENTAL RETIREMENT PLAN

In recognition of the services provided to AmerisourceBergen Drug Corporation (the “Sponsor”) and its Affiliates by certain management and highly compensated employees, the Sponsor and its Affiliates maintain the AmerisourceBergen Drug Corporation Supplemental Retirement Plan (the “Plan”) to provide such employees with retirement benefits that would otherwise be unavailable by reason of certain restrictive provisions of law applicable to the AmerisourceBergen Drug Corporation Participating Companies Pension Plan. The Plan was frozen effective as of June 30, 2007 and no further benefits accrued under the Plan after such date. This Amendment and Restatement of the Plan is made November 24, 2008, effective as of January 1, 2005, unless otherwise noted, and incorporates changes required to comply with Section 409A of the Internal Revenue Code.

TABLE OF CONTENTS

 

 

 

 

ARTICLE 1 DEFINITIONS AND CONSTRUCTION

  

1

 

 

ARTICLE 2 BENEFITS

  

2

 

 

ARTICLE 3 DISTRIBUTIONS TO PARTICIPANTS

  

3

 

 

ARTICLE 4 DEATH BENEFITS

  

3

 

 

ARTICLE 5 VESTING

  

4

 

 

ARTICLE 6 FUNDING

  

4

 

 

ARTICLE 7 ADMINISTRATION

  

4

 

 

ARTICLE 8 AMENDMENT AND TERMINATION

  

5

 

 

ARTICLE 9 MISCELLANEOUS

  

6

 

-i-


ARTICLE 1

DEFINITIONS AND CONSTRUCTION

Section 1.1. Definitions . Whenever used in this Plan:

“Administrator” means the Benefits Committee; provided however, that in the absence of a Benefits Committee, Administrator shall mean the Board.

“Affiliate” means any entity which (a) with the Sponsor, constitutes a controlled group of corporations, a group of trades or businesses under common control, or an affiliated service group, as defined in sections 414(b), (c), and (m) of the Code, respectively, or (b) is required to be aggregated with the Sponsor pursuant to section 414(o) of the Code.

“Beneficiary” means, for death benefits described in Sections 4.1 and 4.2, the beneficiary for purposes of any benefits payable under the Pension Plan subsequent to the Participant’s death, except to the extent that the beneficiary is receiving a benefit under the Pension Plan pursuant to a qualified domestic relations order as defined in section 414(p) of the Code.

“Benefits Committee” means the AmerisourceBergen Corporation Benefits Committee.

“Board” means the Board of Directors of AmerisourceBergen Corporation.

“Code” means the Internal Revenue Code of 1986, as amended, and any successor statute of similar nature and purpose.

“Deferred Compensation Plan” means the Alco Standard Corporation 1985 Deferred Compensation Plan transferred to the Sponsor, and any other plan or contract designated by the Benefits Committee which involves a Participant and a Participating Employer.

“Eligible Employee” means any Employee who is a participant in the Pension Plan and is a management, professional or highly compensated Employee who is designated as an Eligible Employee by the Board, and has completed five years of employment with a Participating Employer.

“Employee” means any individual employed by a Participating Employer.

“Participant” means (a) any Eligible Employee and (b) any former Eligible Employee who has a Supplemental Pension Benefit greater than zero and who either (1) continues to be employed by the Sponsor or an Affiliate, or (2) has a vested interest in all or a portion of his Supplemental Pension Benefit pursuant to Article 5 which has not been distributed pursuant to Article 3 or 4.

“Participating Employer” means the Sponsor and any Affiliate.


“Pension Plan” means the AmerisourceBergen Drug Corporation Participating Companies Pension Plan, as in effect on the date of reference.

“Plan” means the AmerisourceBergen Drug Corporation Supplemental Retirement Plan as set forth herein.

“Plan Year” means the 12-month period commencing each October 1 and ending the next following September 30.

“Separation from Service” means, for any Participant, his death, retirement, discharge or any absence that causes him to cease to be an employee of the Sponsor and all Affiliates, and in each case constitutes a “separation from service” within the meaning of Treas. Reg. 1.409A-1(h).

“Sponsor” means AmerisourceBergen Drug Corporation.

“Supplemental Pension Benefit” means a Participant’s supplemental pension benefit under the Plan, as determined pursuant to Section 2.1.

“Total and Permanent Disability” means Total Disability as that term is defined in the Pension Plan.

Section 1.2. Gender and Number . The masculine pronoun shall include the feminine; the singular shall include the plural; and vice versa.

ARTICLE 2

BENEFITS

Section 2.1. Supplemental Pension Benefits . A Participant’s Supplemental Pension Benefit shall equal the excess of (a) over (b), if any, when:

(a) is the benefit that would have been payable to the Participant under the Pension Plan as of the Participant’s Separation from Service if (1) the limitations of sections 401(a)(17) and 415 of the Code did not apply and (2) the Participant’s compensation for purposes of calculating benefits under the Pension Plan had not been reduced in connection with a Deferred Compensation Plan; and

(b) is the benefit payable to the Participant under the Pension Plan as of the Participant’s Separation from Service.

(c) In the event a Participant’s benefit under the Pension Plan is subject to a qualified domestic relations order as defined in section 414(p) of the Code which does not also apply to this Plan, the Supplemental Pension Benefit shall be calculated and paid as if no qualified domestic relations order was in existence.

 

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ARTICLE 3

DISTRIBUTIONS TO PARTICIPANTS

Section 3.1. Distribution of Supplemental Pension Benefit . A Participant’s Supplemental Pension Benefit under the Plan, to the extent vested under Article 5, shall be paid to the Participant in the form of a lump sum distribution as soon as administratively practicable following (but in no event later than 75 days following) the date that is six months after the Participant’s Separation from Service.

ARTICLE 4

DEATH BENEFITS

Section 4.1. Supplemental Pension Death Benefits for Death Prior to Benefit Commencement .

(a) The death benefit payable to the Beneficiary of a Participant who dies at a time when he has a vested right to a benefit under the Pension Plan and prior to the date payment of the Supplemental Pension Benefit is made pursuant to Section 3.1 shall equal the excess of (1) over (2), if any, when:

(1) is the benefit that would have been payable to the Participant’s Beneficiary under the Pension Plan, determined on the basis of the Participant’s benefit under the Pension Plan calculated as of the Participant’s death if (A) the limitations of sections 401(a)(17) and 415 of the Code did not apply and (B) the Participant’s compensation for purposes of calculating benefits under the Pension Plan had not been reduced in connection with a deferred Compensation Plan; and

(2) is the benefit payable to the Participant’s Beneficiary under the Pension Plan as of the Participant’s death.

(b) The benefit payable to a Beneficiary pursuant to paragraph (a) shall be paid to the Beneficiary as soon as administratively practicable following the Participant’s death (but in


 
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