This excerpt taken from the AKS 10-Q filed Nov 6, 2007.
ARTICLE IINTRODUCTION AND PURPOSE
AK Steel Corporation hereby amends and restates the AK Steel Corporation Supplemental Thrift Plan (Plan) effective as of October 18, 2007. The purpose of the Plan is to aid AK Steel Corporation and its subsidiaries and affiliates in attracting and retaining key management personnel by providing a vehicle for such employees to accumulate additional retirement savings to supplement the retirement benefits available to them under the qualified retirement plans sponsored by AK Steel Corporation. The Plan is designed primarily to insure that such employees retirement savings include company matching contributions that may not be credited to such employees accounts under the AK Steel Corporation Thrift Plan due to the compensation and benefit limitations under sections 401(a)(17) and 415, respectively, of the Internal Revenue Code of 1986, as amended.
The purpose of this amendment and restatement is to bring the Plan into compliance with the requirements of Section 409A of the Code and applicable Treasury Regulations thereunder (referred to collectively as Section 409A). The terms of the Plan shall be interpreted in such manner as to be in compliance with the requirements of Section 409A, including the grandfathering provisions thereof. Participants accrued benefits under the Plan as of December 31, 2004 shall be grandfathered (within the meaning of Section 409A) and remain subject to the terms and conditions of the Plan as in effect on that date. This amendment and restatement is in no way intended to materially modify (within the meaning of the term material modification under Section 409A) the Plan as in effect on December 31, 2004 with respect to Participants grandfathered accrued benefits as of such date.
This Plan is in part an excess benefit plan and in part an unfunded deferred compensation arrangement maintained by AK Steel Corporation for the purpose of providing deferred compensation primarily for a select group of management or highly compensated employees within the meaning of sections 201(2), 301(a)(3) and 401(a)(1) of the Employee Retirement Income Security Act of 1974, as amended.