EX-10.D 6 a2020q4_viacxex10d.htm EX-10.D Document
AMENDMENT No. 8 TO THE CBS EXCESS 401(k) PLAN
FOR DESIGNATED SENIOR EXECUTIVES
PART B – AMENDMENT AND RESTATEMENT AS OF JANUARY 1, 2009
Except as otherwise noted herein, the following amendments shall be effective as of 11:59 PM on December 31, 2020:
1.Section 4 of the Plan is amended by:
(a)Replacing the word ”An” at the beginning thereof with the phrase “For calendar years prior to January 1, 2021, an”.
(b)Adding the following new paragraph at the end thereof:
For calendar years beginning on and after January 1, 2021 an Employer Match will be credited each payroll period to a Participant’s Account with respect to the Eligible Salary Reduction Contributions to which an employer Match has not previously been credited. The rate of Employer Match shall be equal to the sum of (a) 100% of the first 1% of Eligible Salary Reduction Contributions deferred each pay period on a pre-tax basis and (b) 50% of the next 5% of Eligible Salary Reduction Contributions. Eligible Salary Reduction Contributions in excess of 6% shall not be eligible for Employer Match and Eligible Salary Reduction Contributions on annual Compensation in excess of $500,000 shall not be eligible for Employer Match.
2.Section 5 of the Plan is amended by:
(a)Revising the text immediately above the three (3) year graded vesting schedule chart to provide: “For each Participant who has incurs a Separation from Service on or after July 1, 2019 and on or before after December 31, 2020, a Participant’s Employer Match (and earnings and losses thereon) will become vested according to the following schedule:”
(b)Adding the following immediately after the three (3) year graded vesting schedule chart:
For each Participant who has not incurred a Separation from Service before January 1, 2021, a Participant’s Employer Match (and earnings and losses thereon) will become vested according to the following schedule:
|Years of Completed Vesting Service||Vesting %|
|Less than 2 years||0%|
|2 years or more||100%|
For any Participant who had a higher Vesting % under the prior vesting schedule, his or her Vesting % for the purpose of Employer Match shall not be reduced by the adoption of this new schedule.
IN WITNESS WHEREOF, pursuant to a resolution of the ViacomCBS Administrative Committee, the undersigned hereby executes this amendment this 13th day of November, 2020.
|/s/ Mark Beatty|