TE Connectivity Supplemental Savings and Retirement Plan (as Amended and Restated Effective January 1, 2021)
This agreement establishes the TE Connectivity Supplemental Savings and Retirement Plan, which allows certain key employees of TE Connectivity and its affiliates to defer compensation and receive supplemental retirement benefits. The plan is designed to make up for contributions that cannot be made under the company's standard retirement plan due to IRS limits. It outlines eligibility, deferral options, vesting, benefit payments, and administrative procedures. The plan is intended to comply with IRS Section 409A and applies to both current and former participants, including those with benefits transferred from predecessor plans.
Exhibit 10.19
TE CONNECTIVITY SUPPLEMENTAL SAVINGS
AND RETIREMENT PLAN
As Amended and Restated Effective as of January 1, 2021
TABLE OF CONTENTS
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TE CONNECTIVITY SUPPLEMENTAL SAVINGS
AND RETIREMENT PLAN
Purpose
Effective January 1, 2017, the name of the Company, Tyco Electronics Corporation, changed to TE Connectivity Corporation, and the name of the Plan was changed to the TE Connectivity Supplemental Savings and Retirement Plan. These name changes have no impact on the benefits accrued, eligibility of persons to participate in the Plan, or rights of Participants under the Plan.
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Definitions
For ease of reference, the following definitions will be used in the Plan:
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provided, however, that if and to the extent that any provision of this Plan would cause a payment of deferred compensation that is subject to Section 409A(a)(2) of the Code to be made upon the occurrence of a "Change in Control," then such payment shall not be made unless such "Change in Control" satisfies the requirements of Section 409A(2)(A)(v) of the Code and applicable regulations and rulings thereunder.
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Administration
Eligibility for Participation
Basic Deferral Participation
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Notwithstanding the foregoing, to the extent necessary, the Plan Administrator may permit an Administrative Error Correction.
For purposes of the Plan, an employee who otherwise meets the requirements of Section 2.21 will be considered an Eligible Employee on the 15th day of the month following the employee's hire date. Effective June 1, 2021, an employee who otherwise meets the requirements of Section 2.21 will be considered an Eligible Employee on the employee's hire date.
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Spillover Participation/Matching, Company and Discretionary Credits
Notwithstanding the foregoing, to the extent necessary, the Plan Administrator may permit an Administrative Error Correction.
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Participant Account
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Payments to Participants
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Claims Procedures
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Miscellaneous
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