Amendment to AT&T Excess Benefit and Compensation Plan (Change in Control Provisions)

Contract Categories: Human Resources › Retirement Agreements
Summary

This amendment to the AT&T Excess Benefit and Compensation Plan, dated July 28, 2003, outlines how retirement and death benefits for eligible employees are determined following a change in control of AT&T, as defined in the AT&T Management Pension Plan. It ensures that, after such an event, benefits are calculated according to specific change in control provisions and may be paid as a lump sum. The amendment also protects participants by prohibiting adverse changes to these provisions without their consent, especially after a change in control occurs.

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EX-10.JJJ_I 38 ex10jjj_i.htm AMENDMENT TO THE AT&T CORP EXCESS BENEFIT AND COMP PLAN ex10jjj_i.htm
Exhibit 10-jjj(i)



Amendment to

AT&T EXCESS BENEFIT AND COMPENSATION PLAN

Dated July 28, 2003

AT&T
and
such of its Subsidiary Companies that are
Participating Companies


ARTICLE 4

RETIREMENT AND DEATH BENEFITS

* * * *



4.9.    Change in Control Provisions

     (a) In  accordance  with the  preceding  provisions  of  Article 3 and this Article 4,  following  the  occurrence of a "change in control," as that term is defined in the AT&T Management Pension Plan, the benefit determined  pursuant to Section 4.2 and/or  Section 4.3 for a "CIC  eligible  employee," as that term is defined in the AT&T  Management  Pension Plan,  shall be determined  taking into account  the change in control  provisions  of such plan.  Pursuant to the Board resolution  of January 21,  1998,  the Company may elect to pay a  Participant's benefit from this Plan in a single sum payment.

     (b)  Notwithstanding  the provisions of Section 9.1, or any other provision of the Plan,  unless  required by  applicable  law,  this Section 4.9 may not be amended in any manner  adverse to the  interests of  Participants  without their consent and, further,  upon the occurrence of a CIC, no amendment may be made to this Section 4.9 by the Board,  the  Company,  (including  any  successor to the Company), any committee,  any officer, or any other party to suspend, modify, or eliminate any benefit provisions that are applicable upon occurrence of a CIC.