HORMEL SUPPLEMENTAL EXECUTIVE RETIREMENT PLANEmployee Benefits Plan Agreement |
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EXHIBIT 10.1
HORMEL
SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN
(2005
Restatement)
First
Effective January 1, 1976
As Amended and Restated Effective January 1, 2005
HORMEL
SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN
(2005 Restatement)
TABLE OF
CONTENTS
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SECTION 1. |
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INTRODUCTION |
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1 |
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1.1. |
Amendment and Restatement |
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1.1.1. |
Grandfathered Accrued Benefit |
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1.1.2. |
Non-Grandfathered Accrued Benefit |
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1.2. |
Unfunded Obligation |
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SECTION 2. |
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PLAN NAME |
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SECTION 3. |
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PARTICIPANTS |
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2 |
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3.1. |
General Rule |
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3.2. |
Specific Exclusion |
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SECTION 4. |
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BENEFIT FOR PARTICIPANTS |
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2 |
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4.1. |
General Amount Rule |
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4.2. |
Special Amount Rule |
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4.3. |
Time and Form of Payment |
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4.3.1. |
Time of Payment |
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4.3.2. |
Form of Payment |
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4.4. |
Forfeiture of Benefits |
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SECTION 5. |
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BENEFIT FOR BENEFICIARIES |
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6 |
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5.1. |
Death Before Benefit Commencement |
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5.1.1 |
General Amount Rule |
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5.1.2. |
Special Amount Rule |
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5.1.3. |
Time and Form of Payment |
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5.2. |
Death After Benefit Commencement |
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SECTION 6. |
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COMMUTATION TO LUMP SUM |
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SECTION
7. |
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FUNDING |
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8 |
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7.1. |
Funding |
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7.2. |
Hedging Investments |
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7.3. |
Consensual Creditor |
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SECTION 8. |
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GENERAL MATTERS |
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8.1. |
Amendment and Termination |
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8.2. |
ERISA Administrator |
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8.3. |
Limited Benefits |
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8.4. |
Spendthrift Provision |
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8.5. |
Service of Process |
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8.6. |
Plan Year |
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8.7. |
§ 162(m) Deferral |
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SECTION 9. |
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CLAIMS PROCEDURES |
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9.1. |
Determinations |
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9.2. |
Rules and Regulations |
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9.3. |
Method of Executing Instruments |
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9.4. |
Claims Procedure |
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9.4.1. |
Original Claim |
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9.4.2. |
Claims Review Procedure |
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9.4.3. |
General Rules |
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9.4.4. |
Deadline to File Claim |
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9.4.5. |
Exhaustion of Administrative Remedies |
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9.4.6. |
Deadline to File Legal Action |
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9.4.7. |
Knowledge of Fact by Participant Imputed to Beneficiary |
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9.5. |
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