Amendment 2014-2 to Nordstrom Supplemental Executive Retirement Plan (2008 Restatement)
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Summary
This amendment, effective immediately, modifies the Nordstrom Supplemental Executive Retirement Plan (2008 Restatement) to set a maximum annual retirement benefit of $700,000, or $58,333.33 per month, for executives. The amendment was approved by Nordstrom, Inc. in August 2014 and applies to all retirement benefits paid under the plan, regardless of other provisions.
EX-10.2 3 jwn-08252014xex102.htm EX-10.2 jwn-08252014xex10.2
Exhibit 10.2
AMENDMENT 2014-2
NORDSTROM
SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN
The Nordstrom Supplemental Executive Retirement Plan (2008 Restatement) (the “Plan”) is hereby amended pursuant to 6.01(b) of the Plan to impose a maximum annual Retirement Benefit of $700,000 ($58,333.33 expressed monthly), effective as stated herein.
1. Section 3.01 Retirement Benefit is amended effective immediately by adding new subsection (d), as follows:
“(d) Maximum Retirement Benefit. Notwithstanding anything in the Plan to the contrary, including but not necessarily limited to this Article III, the Retirement Benefit payable to an Executive under this Plan shall at no time exceed $58,333.33 per month.”
Approved pursuant to proper authority this ___ day of August, 2014.
NORDSTROM, INC.
By:_________________________________
Title:________________________________
SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN
AMENDMENT 2014-2
