Amendment to the Walgreen Co. Profit-Sharing Restoration Plan

Contract Categories: Human Resources › Profit Sharing Plans
Summary

This amendment to the Walgreen Co. Profit-Sharing Restoration Plan states that no new employees may join the plan after October 1, 2010. Additionally, effective January 1, 2011, no further contributions can be made to the plan's Secular Trust, although existing participants may keep their accounts. The amendment clarifies participation and contribution rules for the plan going forward.

Read More Arrow
EX-10.3 2 exhibit_10-3.htm AMENDMENT TO THE WALGREEN CO. PROFIT SHARING RESTORATION PLAN exhibit_10-3.htm
 

AMENDMENT
to the
WALGREEN CO. PROFIT-SHARING RESTORATION PLAN

I.

The Walgreen Co. Profit-Sharing Restoration Plan (the “Plan”) is amended to add the following paragraph after the last paragraph of Section 3 (Participation):

“Notwithstanding the foregoing, no employees shall be permitted into the Plan on and after October 1, 2010.”

II.

Effective January 1, 2011, the following Section 4.7 shall be added after Section 4.6 (Effect of Payment):

‘4.7  Frozen Plan.  No contributions to the Secular Trust shall be permitted under the Plan on and after January 1, 2011.  Participants who have a phantom account under the Secular Trust prior to such date, however, may continue to maintain such account.”