FIRST AMENDMENT TO THE
BOB EVANS FARMS, INC. AND AFFILIATES
THIRD AMENDED AND RESTATED
EXECUTIVE DEFERRAL PROGRAM
This First
Amendment (this “Amendment”) to the Bob Evans Farms,
Inc. and Affiliates Third Amended and Restated Executive Deferral
Program (the “Plan”) is effective as of
November 18, 2008.
WHEREAS, Bob Evans
Farms, Inc. (the “Company”) previously adopted the
Plan; and
WHEREAS, pursuant
to Section 8.01 of the Plan, the Company desires to amend the
Plan.
NOW, THEREFORE,
the Plan is hereby amended as follows:
1.
Section 6.01(a) of the Plan is hereby deleted in its entirety
and the following is substituted therefor:
(i)
In-Service Distribution Account . With respect to Pre-2008
Deferrals (and any earnings related thereto), the vested portion of
each Sub-Account within a Member’s In-Service Distribution
Account will be distributed in a lump sum within 60 days
following the earliest of (A) the first day of the calendar
year specified in the Member’s Deferral Election Form,
(B) the Member’s death, (C) the date the Member
becomes Disabled, or (D) the date the Member Separates from
Service before reaching age 55.
(ii)
Education Distribution Account . With respect to Pre-2008
Deferrals (and any earnings related thereto), the vested portion of
each Sub-Account within a Member’s Education Distribution
Account will be distributed (or begin to be distributed) within
60 days following the earliest of (A) the first day of
the calendar year specified in the Member’s Deferral Election
Form, (B) the Member’s death, (C) the date the
Member becomes Disabled, or (D) the date the Member Separates
from Service before reaching age 55. Each such Sub-Account, to the
extent vested, will be distributed in five substantially equal
annual installments; provided, however, that the Member may elect
that such distribution be made in a lump sum in the year specified
in the Member’s Deferral Election Form or in four or fewer
substantially equal annual installments beginning in the year
specified in such Deferral Election Form. Notwithstanding the
foregoing, if a distribution of the Education Distribution Account
is due to a Member’s death, Disability or Separation from
Service before reaching age 55, such distribution shall be made in
a lump sum.
(iii)
Retirement Distribution Account . With respect to Pre-2008
Deferrals (and earnings related thereto), the vested portion of
each Sub-Account within a Member’s Retirement Distribution
Account will be distributed (or begin to be distributed) within 60
days following the earliest of (A) the first day of the
calendar year specified in the Member’s Deferral Election
Form, (B) the Member’s death, (C) the date the
Member becomes Disabled, or (iv) the date the Member Separates
from Service (regardless of the Member’s age). Each such
Sub-Account, to the extent vested, will be distributed in a lump
sum or in substantially equal monthly, quarterly or annual
installments for a period of no more than ten years as elected by
the Member in the Member’s Deferral Election Form.
Notwithstanding th
|
