50 of the Top 250 law firms use our Products every day
WOLVERINE WORLD WIDE, INC.
409A SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN
PARTICIPATION AGREEMENT
BLAKE W. KRUEGER (“Employee”)
previously has been designated by WOLVERINE WORLD WIDE, INC.
(“Employer”) as a Participant in the Wolverine World
Wide, Inc. Supplemental Executive Retirement Plan, as then in
effect and as modified from time to time (“SERP Plan”).
As of December 11, 2008, Employer adopted and the Employee
became a Participant in the 409A Supplemental Executive Retirement
Plan (“Comprehensive SERP Plan”) that replaces the SERP
Plan and covers all of Employee’s accrued benefits under the
SERP Plan. Therefore, Employer and Employee agree as
follows:
1. Participation Date . Employee
became a Participant in the SERP Plan effective January 1,
1996. Employee agrees that the terms of the Comprehensive SERP Plan
apply to all benefits accrued under the SERP Plan.
2. Years of Service .
Employee’s commencement date for purposes of computing Years
of Service under the Comprehensive SERP Plan is April 27,
1993. Employee also has been credited previously with an additional
three (3) deemed Years of Service. Effective April 19,
2007, and continuing thereafter while the Employee remained a
Participant in the SERP Plan and is a Participant in the
Comprehensive SERP Plan, the Employee will be credited with one
(1) additional deemed Year of Service on the same date that
the Employee is credited with each Year of Service as a
Participant. By way of example only, in March 2007, when the
Employee was credited with one Year of Service under the SERP Plan
the Employee received one additional deemed Year of Service under
the SERP Plan. As of the date hereof, Employee has 18 Years of
Service.
3. Designated Percentage . The
Designated Percentage under the Comprehensive SERP Plan
Section 5.1(a) is 2.4%.
4. Designated Period . The
Designated Period under the Comprehensive SERP Plan Section 10.1 is
three (3) years.
(a) Lifetime . The Participant accepts
the presumed method of payment under the Comprehensive SERP Plan
(during life, a single life annuity, if single, or joint and 50%
spouse annuity, if married) unless one of the following forms is
selected:
|
|
|
|
|
|
|
|
|
o 5 Year Certain and Life
|
|
o Joint and 100% Spouse Annuity
|
|
|
|
o 10 Year Certain and Life
|
|
o Joint and 75% Spouse Annuity
|
|
|
|
o Life Annuity
|
|
|
(b) Pre-Benefit Death. The Participant
hereby selects that any pre-retirement death benefit to his
Surviving Spouse shall be paid as follows:
o Single Life Annuity of Spouse
o
Lump Sum (default)
6. Commencement of
Benefit . If the Participant Terminates prior to age 65, the
Participant elects that benefits shall commence:
o Promptly following Termination (but not earlier
than age 55) (default)
o Age _____ (but not earlier than age
55 or later than age 65)
|
