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EXHIBIT 10.20
ZIONS BANCORPORATION
EXECUTIVE MANAGEMENT PENSION
PLAN
Effective January 1,
1994
TABLE OF CONTENTS
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Page
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Introduction
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1
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Article
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1-
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Definitions
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2
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1.1
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Accrued
Benefit
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2
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1.2
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Code
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2
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1.3
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Committee
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2
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1.4
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Company
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2
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1.5
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Effective
Date
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2
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1.6
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ERISA
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2
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1.7
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Executive
Management Plan Benefit
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2
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1.8
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Executive
Management Retirement Income
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2
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1.9
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Participant
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2
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1.10
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Pension
Plan
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2
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1.11
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Pension Plan
Benefit
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2
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1.12
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Plan
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2
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1.13
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Retirement
Date
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2
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1.14
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Unrestricted
Pension Plan Benefit
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2
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Article
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2-
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Participation
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3
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2.1
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Participants
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3
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Article
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3-
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Executive
Management Retirement Income
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4
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3.1
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Amount of
Accrued Benefit
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4
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3.2
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Executive
Management Retirement Income
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4
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3.3
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Forms of
Retirement Income
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4
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Article
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4-
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Termination and
Vesting
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5
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4.1
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Vesting
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5
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Article
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5-
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Disability
Benefits
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6
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5.1
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Payment of
Disability Benefit
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6
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Article
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6-
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Death
Benefits
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7
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6.1
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Preretirement
Death Benefit
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7
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6.2
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Postretirement
Death Benefit
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7
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Article
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7-
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General
Provisions
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8
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7.1
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Unfunded
Obligation
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8
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7.2
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Administration
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8
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7.3
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Employment
Status
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8
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7.4
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Amendment and
Termination of Plan
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8
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7.5
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Provision
Against Anticipation
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8
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7.6
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Facility of
Payment
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8
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7.7
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Withholding
Taxes
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9
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7.8
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Applicable
Law
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9
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Introduction
Zions Bancorporation recognizes the
value of services performed by its executives and desires to
provide them with full pension benefits even when those benefits
exceed the limits on benefits which can be provided by Zions
Bancorporation Pension Plan. This reflects Zions
Bancorporation’s recognition that the value of services
provided by its executives may not be adequately reflected in the
retirement benefits provided under its tax qualified retirement
plans.
Accordingly, this Executive
Management Pension Plan is established supplement benefits provided
to executives under the tax qualified Zions Bancorporation Pension
Plan.
1
Article 1
Definitions
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1.1
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Accrued Benefit
means the monthly amount of benefit credited to a Participant in
accordance with Section 3.1.
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1.2
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Code means the
Internal Revenue Code of 1986, as amended.
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1.3
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Committee means
the Retirement Committee appointed to administer the Pension
Plan.
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1.4
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Company means
Zions Bancorporation and any af
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