Exhibit 10.2
THE PEP BOYS SAVINGS
PLAN
AMENDMENT 2009-1
Pursuant to the authority reserved
to it under Section 8.2 of The Pep Boys Savings Plan (the
“Plan”), the Committee for the Savings Plan (the
“Committee”) hereby amends the Plan as
follows:
1.
The definition of
“Compensation” in Section 2.1 of the Plan is
hereby amended to add the following to the end of the first
paragraph thereof:
“Effective for Plan Years
beginning after December 31, 2007, Compensation for purposes
of this paragraph shall not include any amounts that are excluded
from the definition of compensation set forth in section
415(c)(3) of the Code.”
2.
The definition of
“Compensation” in Section 2.1 of the Plan is
hereby amended to add the following to the end of the third
paragraph thereof:
“Compensation for purposes of
this paragraph shall include the following post-severance
compensation amounts if paid by the end of the Limitation Year that
includes the Employee’s termination of employment, or if
later, 2-1/2 months after the Employee’s termination of
employment (the “Post Termination Period”) and
if:
(i)
the payment is regular pay as described in Treasury Regulation
section 1.415(c)-(2)(e)(3)(ii); or
(ii)
the payment is for unused accrued bona fide sick, vacation or other
leave that the Employee would have been able to use if employment
had continued.
Any payments not described in the
foregoing subsections (i) or (ii) shall not be considered
Compensation if paid after termination of employment, even if they
are paid within the Post Termination Period.”
3.
The definition of
“Compensation” in Section 2.1 of the Plan is
hereby amended to replace the reference to “$200,000”
with “$230,000.”
4.
The definition o
