First Amendment to the Nicor Gas Supplementary Retirement Plan (Northern Illinois Gas Company)

Contract Categories: Human Resources › Retirement Agreements
Summary

This amendment to the Nicor Gas Supplementary Retirement Plan allows employees who retire in 2005 to receive a lump sum payment of benefits accrued from January 1, 2005, until their retirement date. The change is made to comply with IRS transition rules under Section 409A of the Internal Revenue Code. The amendment is effective as of January 1, 2005, and is executed by an authorized officer of Northern Illinois Gas Company (Nicor Gas).

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EX-10.01 2 exhibit1005.htm NICOR GAS EXHIBIT 10.05 Exhibit 10.05 - First Amendment to the Northern Illinois Gas Company Supplementary Retirement Plan
Nicor Gas Company
Form 10-K
Exhibit 10.05

 
FIRST AMENDMENT TO THE
NICOR GAS SUPPLEMENTARY RETIREMENT PLAN


WHEREAS, Northern Illinois Gas Company (doing business as Nicor Gas Company) (the “Company”), established and maintains the Nicor Gas Supplementary Retirement Plan (“SRET”)

WHEREAS, amendment of the SRET is desirable to ease the administrative burden of the SRET with respect to retirements occurring in 2005 under the transition rules set forth in IRS Notice 2005-1 with respect to Section 409A of the Internal Revenue Code of 1986, as amended (“Section 409A”)

NOW, THEREFORE, pursuant to the power and authority reserved to the Company pursuant to Section 4.1 of the SRET and delegated to the undersigned officer by resolution dated November 17, 2005 the SRET is hereby amended, effective as January 1, 2005 by adding the following Section 3.7:

“3.7 Section 409A Distributions in 2005. Notwithstanding the provisions of Section 3.3, and in accordance with IRS Notice 2005-1, each Participant who retires from the Company and its affiliates in calendar year 2005 shall be permitted to take a distribution in a lump sum of any benefits such Participant accrues from January 1, 2005 through the date of retirement.”

 
  IN WITNESS WHEREOF, the duly authorized officer has caused this First Amendment to be executed on this 15th day of December, 2005.


NORTHERN ILLINOIS GAS COMPANY


By: /s/ CLAUDIA J. COLALILLO
Claudia J. Colalillo
Its: Senior Vice President, Human Resources and Customer Care