Quarter Ended
EX-10.(E) 6 g17294exv10wxey.htm EX-10(E) EX-10(e)
Exhibit 10(e)
AMENDMENT NUMBER FOUR
TO THE
HARRIS CORPORATION RETIREMENT PLAN
TO THE
HARRIS CORPORATION RETIREMENT PLAN
WHEREAS, Harris Corporation, a Delaware corporation (the Corporation), heretofore has adopted and maintains the Harris Corporation Retirement Plan, as amended and restated effective July 1, 2007 (the Plan);
WHEREAS, pursuant to Section 17.1 of the Plan, the Management Development and Compensation Committee of the Corporations Board of Directors (the Compensation Committee) has the authority to amend the Plan;
WHEREAS, pursuant to Section 13.3 of the Plan, the Compensation Committee has delegated to the Employee Benefits Committee of the Corporation (the Employee Benefits Committee) the authority to adopt non-material amendments to the Plan;
WHEREAS, the Employee Benefits Committee desires to amend the Plan to provide that during any period in which no direction as to the investment of a participants account is on file, in the event that the Corporation has no record of such participants age, contributions made for such participants benefit during such period shall be invested in the Balanced Fund until such participants age can be determined, at which time all such contributions made for such participants benefit during such period shall be transferred to an age-appropriate LifeCycle Fund;
WHEREAS, the Employee Benefits Committee desires to amend further the Plan to provide that a participants vested account shall be distributed in a lump sum, without the participants consent, upon his or her termination of employment only if the value of such vested account does not exceed $1,000 (as opposed to $5,000, as currently set forth in the Plan); and
WHEREAS, the Employee Benefits Committee has determined that the above-described amendments are non-material.
NOW, THEREFORE, BE IT RESOLVED, that the Plan hereby is amended, effective as of November 6, 2008, as follows:
1. | The final sentence of Section 8.2(a) hereby is amended to read as follows: | ||
During any period in which no direction as to the investment of a Participants Account is on file with the Administrative Committee (a Default Period), contributions made for a Participants benefit shall be invested in an age-appropriate LifeCycle Fund (or, if the Employers have no record of the Participants age, in the Balanced Fund until such Participants age can be determined, at which time all such contributions made for such Participants benefit during the Default Period shall be transferred to an age-appropriate LifeCycle Fund). | |||
2. | Section 9.4 hereby is amended in its entirety to read as follows: |
Section 9.4. Payment of Small Account Balances. Notwithstanding any provision of Section 9.3 to the contrary and subject to Section 9.6, if a Participants vested Account does not exceed $1,000, then such Account shall be distributed as soon as practicable after the Participants termination of employment in the form of a lump sum payment to the Participant or his or her Beneficiary, as the case may be.
APPROVED by the HARRIS CORPORATION EMPLOYEE BENEFITS COMMITTEE on this 7th day of November, 2008.
/s/ John D. Gronda |
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