Amendment No. 5 and No. 7 to the CBS Excess 401(k) Plan for Designated Senior Executives

Summary

This document amends the CBS Excess 401(k) Plan for Designated Senior Executives, effective July 1, 2019. It updates the definition of "Investment Options" to exclude the Self-Directed Brokerage Account and revises the vesting schedule for employer matching contributions for participants who have not separated from service before July 1, 2019. The amendments clarify how and when participants become vested in employer contributions based on years of service.

EX-10.A 2 cbs_ex10a-033119.htm EXHIBIT 10.A Exhibit

Exhibit 10(a)

AMENDMENT No. 5 TO THE CBS EXCESS 401(k) PLAN

FOR DESIGNATED SENIOR EXECUTIVES

PART A – AMENDMENT AND RESTATEMENT AS OF DECEMBER 31, 2005 (THE “PLAN”)

Except as otherwise noted herein, the following amendments shall be effective as of July 1, 2019:


1.	Section 2.12 of the Plan is hereby amended to add the following at the end thereof:

Notwithstanding anything herein to the contrary, effective as of July 1, 2019, the term “Investment Options” means the investment funds available to the CBS 401(k) Plan, excluding the Self-Directed Brokerage Account.

AMENDMENT No. 7 TO THE CBS EXCESS 401(k) PLAN

FOR DESIGNATED SENIOR EXECUTIVES

PART B – AMENDMENT AND RESTATEMENT AS OF JANUARY 1, 2009 (THE “PLAN”)

Except as otherwise noted herein, the following amendments shall be effective as of July 1, 2019:


2.	Section 2.19 of the Plan is hereby amended to add the following at the end thereof:


3.	Section 5 of the Plan is hereby amended by:


(a)	Deleting the word “A” at the beginning of the second sentence in the first paragraph and replacing it with the phrase “For each Participant who has incurred a Separation from Service prior to July 1, 2019, a”.


(b)	Adding the following immediately after the five (5) year graded vesting schedule chart:

For each Participant who has not incurred a Separation from Service prior to July 1, 2019, a Participant’s Employer Match (and earnings and losses thereon) will become vested according to the following schedule:



Years of Vesting Service	Vesting %
Less than 1	0%
1 but less than 2	33-1/3%
2 but less than 3	66-2/3%
3 or more	100%