Amendment No. 7 to Pfizer Supplemental Savings Plan (PSSP)

Contract Categories: Human Resources › Retirement Agreements
Summary

This amendment updates the Pfizer Supplemental Savings Plan (PSSP), effective January 1, 2016. It clarifies that participants generally cannot change their Excess Regular Earnings Deferrals during the plan year except during the next annual enrollment. However, if a participant experiences a hardship withdrawal, disability, or an unforeseeable emergency distribution, their deferral election will be cancelled. The amendment aims to specify when changes to deferral elections are permitted under the plan.

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EX-10.15 4 pfe-ex1015x12312019xk.htm EXHIBIT 10.15 Exhibit


Exhibit 10.15

Amendment No. 7
Pfizer Supplemental Savings Plan (the “PSSP”)
(Amended and Restated as of January 1, 2016)

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(New material underlined; deletions crossed out)

1. Section 3.3 shall be amended to read as follows:
3.3    Amendment or Suspension of Election. Except as otherwise provided in this Section 3.3, once made, a Member may not change his or her existing Excess Regular Earnings Deferrals election under this Plan during the Plan Year until the next Annual Enrollment. Notwithstanding the foregoing, if a Member receives a hardship withdrawal under the Qualified Plan, incurs a Disability or obtains a distribution under Section 6.4 on account of an Unforeseeable Emergency during a year, his or her Excess Regular Earnings Deferral election shall be cancelled.