Personal Financial Planning Services Agreement for 3M Executives (as of January 1, 2004)
This agreement outlines a program where eligible 3M Company executives can receive personal financial planning and tax preparation services from approved vendors, including Deloitte & Touche LLP, Ernst and Young LLP, and The Ayco Company. 3M will cover all vendor fees and related expenses for these services, while participating executives are responsible for any taxes incurred as a result of receiving these benefits. Only executives invited by 3M and who are members of the Executive Conference are eligible.
EXHIBIT 10.11
PERSONAL FINANCIAL PLANNING
SERVICES FOR 3M EXECUTIVES
(as of January 1, 2004)
Eligibility: Active employees of 3M Company (the “Company”), its subsidiaries and affiliates who are members of 3M’s Executive Conference and who are invited to participate by the Company.
Participating Vendors: Participants may elect to receive covered services from any of the vendors approved by the Company. As of January 1, 2004, these vendors are Deloitte & Touche LLP, Ernst and Young LLP, and The Ayco Company.
Covered Services: Personal financial planning and the preparation of personal income tax returns for participants.
Company’s Responsibility for Covered Services: The Company will pay all fees charged by the participating vendors for the covered services they provide to participants, together with any reimbursable out-of-pocket expenses.
Participants’ Responsibility for Covered Services: Each participant will be responsible for paying any taxes imposed on any income resulting from their receipt of covered services.
