Amendment to General Mills, Inc. Supplemental Retirement Plan (Effective January 1, 2006)
This amendment updates the General Mills, Inc. Supplemental Retirement Plan to comply with Section 409A of the Internal Revenue Code. It specifies that distributions for affected employees will begin at the later of age 55 or when the employee leaves the company, with additional timing requirements for certain employees as required by law. The amendment ensures the plan aligns with federal tax regulations and clarifies when retirement benefits will be paid.
Exhibit 10.3
AMENDMENT TO GENERAL MILLS, INC.SUPPLEMENTAL RETIREMENT PLAN
Effective January 1, 2006, the General Mills, Inc. Supplemental Retirement Plan is amended to provide that distributions of amounts subject to §409A of the Internal Revenue Code shall begin at the later of age 55 or separation from service, subject to other provisions of §409A, such as the six month delay imposed on specified employees under §409A(a)(2)(B)(i).
