Amendment and Termination of PNM Resources, Inc. Long Term Care Insurance Plan

Contract Categories: Business Operations › Termination Agreements
Summary

PNM Resources, Inc. has amended its Long Term Care Insurance Plan to terminate the plan effective December 31, 2011. This means all employee coverage under the plan ends on that date. However, any benefits that participants became entitled to before the termination will not be affected. The amendment is executed by the company's authorized representative.

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EX-10.3 4 pnm12312011ex103.htm EXHIBIT 10.3 PNM 12.31.2011 EX 10.3



Exhibit 10.3
AMENDMENT
TO THE
PNM RESOURCES, INC.
LONG TERM CARE INSURANCE PLAN
PNM Resources, Inc. (the “Company”) previously adopted the PNM Resources, Inc. Long Term Care Insurance Plan (the “Plan”), which is a plan to assist employees in paying for assisted living or professional health care expenses in conjunction with advancing age or disability. By this instrument, the Company intends to terminate the Plan effective December 31, 2011.
1.    This Amendment shall be effective December 31, 2011, unless otherwise noted below.
2.    The Plan is hereby terminated. Pursuant to the “When Coverage Will End” Section of the Plan, all coverage under the Plan ends on December 31, 2011. The termination of the Plan will not affect any benefit to which a Participant became entitled before the termination.
IN WITNESS WHEREOF, the Company has hereby caused this Amendment to be executed by its duly authorized representative on this _16__ day of _December_, 2011.
PNM RESOURCES, INC.
By: /s/ Alice A. Cobb
Its: SVP/CAO