EYE » Topics » TRUST AND INSURANCE CONTRACTS

This excerpt taken from the EYE 10-K filed Feb 24, 2009.

TRUST AND INSURANCE CONTRACTS

14.1 Trust Information. The Trust Agreement for Advanced Medical Optics, Inc. Executive Deferred Compensation Plan (the “Trust” or “Trust Agreement”) previously established by the Company and First American Trust, FSB (the “Trustee”) for the purpose of carrying out the provisions of the Predecessor Plan shall continue for the purposes of carrying out the provisions of this Plan and is made a part hereof. The Trust shall continue to be a grantor trust within the meaning of subpart E, part I, subchapter J, chapter 1, subtitle A of the Code.

14.2 Funding of Trust. All amounts of Base Salary or Bonuses that are subject to Deferral Elections by Participants under this Plan shall be contributed by the Company to the Trust (or directly to insurance contracts or other investment vehicles to be held by the Trustee as part of the Trust’s assets) at or about the same time as such amounts are credited to the Deferral Accounts of Participants. For each Plan Year, an amount equal to all Profit Sharing Restoration Credits shall be contributed by the Company to the Trust (or directly to insurance contracts or other investment vehicles to be held by the Trustee as part of the Trust’s assets) no later than ninety (90) days after all “Profit Sharing Contributions” (as defined in the AMO 401(k) Plan), if any, have been made to the AMO 401(k) Plan for the same Plan Year. For each Plan Year, an amount equal to all Matching Contribution Restoration Credits shall be contributed by the Company to the Trust (or directly to insurance contracts or other investment vehicles to be held by the Trustee as part of the Trust’s assets) no later than ninety (90) days after all “Matching Contributions” (as defined in the AMO 401(k) Plan, and including additional “Matching Contributions” under Section 5.3(b) of the AMO 401(k) Plan), if any, have been made to the AMO 401(k) Plan for the same Plan Year. All amounts of a Discretionary Credit shall be contributed by the Company to the Trust (or directly to insurance contracts or other investment vehicles to be held by the Trustee as part of the Trust’s assets) no later than ninety (90) days after the determination of such Discretionary Credit.

14.3 Investment in Insurance Contracts. The Committee shall direct the Trustee to invest the majority or all of the assets of the Trust in life insurance contracts, to be selected by the Committee, on the lives of Participants. In order for a Participant’s Deferral Election Form to be effective, the Committee may require that each Participant cooperate in signing an insurance application, submit to medical examination, and provide any relevant information to third parties, including the insurance company(ies) or outside consultants. Such information shall be held in confidence by those who receive it and such information shall not be provided to the Committee or the Company. Participation shall not be denied to an Eligible Employee because he or she is not insurable or must be rated in order for insurance to be issued.

14.4 Investment in Fund Media. With respect to assets of the Trust attributable to Deferral Elections where the Fund Rate applies, the Committee may provide, in its sole discretion, methods by electronic means or otherwise for Participants (or the Committee where the Plan so provides) to make or change investment decisions consistent with the terms of the Plan.

 

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This excerpt taken from the EYE 10-K filed Mar 2, 2005.

TRUST AND INSURANCE CONTRACTS

 

15.1 Trust Information. The Trust Agreement for Advanced Medical Optics, Inc. Executive Deferred Compensation Plan (the “Trust” or “Trust Agreement”) previously established by the Company and First American Trust, FSB (the “Trustee”) for the purpose of carrying out the provisions of the Predecessor Plan shall continue for the purposes of carrying out the provisions of this Plan and is made a part hereof. The Trust shall continue to be a grantor trust within the meaning of subpart E, part I, subchapter J, chapter 1, subtitle A of the Code.

 

15.2 Funding of Trust. All amounts of Base Salary or Bonuses that are subject to Deferral Elections by Participants under this Plan shall be contributed by the Company to the Trust (or directly to insurance contracts or other investment vehicles to be held by the Trustee as part of the Trust’s assets) at or about the same time as such amounts are credited to the Deferral Accounts of Participants. All amounts of Profit Sharing Restoration Credits shall be contributed by the Company to the Trust (or directly to insurance contracts or other investment vehicles to be held by the Trustee as part of the Trust’s assets) no later than ninety (90) days after all “Profit Sharing Contributions” (as defined in the AMO 401(k) Plan), if any, under the AMO 401(k) Plan are made. All amounts of Matching Contribution Restoration Credits shall be contributed by the Company to the Trust (or directly to insurance contracts or other investment vehicles to be held by the Trustee as part of the Trust’s assets) no later than ninety (90) days after all “Matching Contributions” (as defined in the AMO 401(k) Plan, and including additional “Matching Contributions” under Section 5.3(b) of the AMO 401(k) Plan), if any, under the AMO 401(k) Plan are made. All amounts of a Discretionary Credit shall be contributed by the Company to the Trust (or directly to insurance contracts or other investment vehicles to be held by the Trustee as part of the Trust’s assets) no later than ninety (90) days after the determination of such Discretionary Credit.

 

15.3 Investment in Insurance Contracts. The Committee shall direct the Trustee to invest the majority or all of the assets of the Trust in life insurance contracts, to be selected by the Committee, on the lives of Participants. In order for a Participant’s Participation Agreement to be effective, the Committee may require that each Participant cooperate in signing an insurance application, submit to medical examination, and provide any relevant information to third parties, including the insurance company(ies) or outside consultants. Such information shall be held in confidence by those who receive it and such information shall not be provided to the Committee or the Company. Participation shall not be denied to an Eligible Employee because he or she is not insurable or must be rated in order for insurance to be issued. Notwithstanding any other provision in this Plan, if insurance is denied or discontinued because a Participant fails to disclose (or makes a material misrepresentation of) medical or other information, or if the Participant commits suicide during the first two (2) years of participation in the Plan, any amounts which are deferred by the Participant under a Deferral Election shall be repaid to the Participant with investment earnings credited at the Fund Rate, and no other benefits shall be due to the Participant.

 

15.4 Investment in Fund Media. With respect to assets of the Trust attributable to Deferral Elections where the Fund Rate applies, the Committee may provide, in its sole

 

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discretion, methods by electronic means or otherwise for Participants (or the Committee where the Plan so provides) to make or change investment decisions consistent with the terms of the Plan.

 

EXCERPTS ON THIS PAGE:

10-K
Feb 24, 2009
10-K
Mar 2, 2005
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