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This excerpt taken from the F 10-K filed Feb 26, 2009. Section 6. Earning Out
Conditions. Anything herein contained to the contrary
notwithstanding, the right of any Eligible Retired Executive to receive
Supplemental Benefit, Conditional Annuity or Pension Parity payments hereunder
for any month shall accrue only if, during the entire period from the date of
retirement to the end of such month, the Eligible Retired Executive shall have
earned out such payment by refraining from engaging in any activity that is
directly or indirectly in competition with any activity of the Company or any
Subsidiary or Affiliate thereof.
In the
event of an Eligible Retired Executive's nonfulfillment of the condition set
forth in the immediately preceding paragraph, no further payment shall be made
to the Eligible Retired Executive or the Designated Beneficiary; provided,
however, that the nonfulfillment of such condition may at any time (whether
before, at the time of or subsequent to termination of employment) be waived in
the following manner:
(1) with
respect to any such Eligible Retired Executive who at any time shall have been a
member of the Board of Directors, an Executive Vice President, a Group Vice
President, a Vice President, the Treasurer, the Controller or the Secretary of
the Company, such waiver may be granted by the Committee upon its determination
that in its sole judgment there shall not have been and will not be any
substantial adverse effect upon the Company or any Subsidiary or Affiliate
thereof by reason of the nonfulfillment of such condition; and
(2) with
respect to any other such Eligible Retired Executive, such waiver may be granted
by the Annual Incentive Compensation Committee of Ford Motor Company (or any
committee appointed for the purpose) upon its determination that in its sole
judgment there shall not have been and will not be any such substantial adverse
effect.
Anything
herein contained to the contrary notwithstanding, Supplemental Benefit,
Conditional Annuity and Pension Parity payments shall not be paid to or with
respect to any person as to whom it has been determined that such person at any
time (whether before or subsequent to termination of employment) acted in a
manner inimical to the best interests of the Company. Any such
determination shall be made by (i) the Committee with respect to any Eligible
Retired Executive who at any time shall have been a member of the Board of
Directors, an Executive Vice President, a Group Vice President, a Vice
President, the Treasurer, the Controller or the Secretary of the Company, and
(ii) the Annual Incentive Compensation Committee of Ford Motor Company (or any
committee appointed for the purpose) with respect to any other Eligible
Retired
Executive,
and shall apply to any amounts payable after the date of the applicable
committee's action hereunder, regardless of whether the Eligible Retired
Executive has commenced receiving any benefits hereunder. Conduct
which constitutes engaging in an activity that is directly or indirectly in
competition with any activity of the Company or any Subsidiary or Affiliate
thereof shall be governed by the two immediately preceding paragraphs of this
Section and shall not be subject to any determination under this
paragraph.
Section
7. General Provisions.
This excerpt taken from the F 10-K filed Mar 10, 2005. Section 6. Earning Out
Conditions. Anything herein
contained to the contrary notwithstanding, the right of any
Eligible Retired Executive to receive Supplemental Benefit,
Conditional Annuity or Pension Parity payments hereunder for any
month shall accrue only if, during the entire period from the
date of retirement to the end of such month, the Eligible
Retired Executive shall have earned out such payment by
refraining from engaging in any activity that is directly or
indirectly in competition with any activity of the Company or
any Subsidiary or Affiliate thereof.
In the event of an Eligible Retired Executive’s nonfulfillment of the condition set forth in the immediately preceding paragraph, no further payment shall be made to the Eligible Retired Executive or the Designated Beneficiary; provided, however, that the nonfulfillment of such condition may at any time (whether before, at the time of or subsequent to termination of employment) be waived in the following manner:
Anything herein contained to the contrary notwithstanding, Supplemental Benefit, Conditional Annuity and Pension Parity payments shall not be paid to or with respect to any person as to whom it has been determined that such person at any time (whether before or subsequent to termination of employment) acted in a manner inimical to the best interests of the Company. Any such determination shall be made by (i) the Committee with respect to any Eligible Retired Executive who at any time shall have been a member of the Board of Directors, an Executive Vice President, a Group Vice President, a Vice President, the Treasurer, the Controller or the Secretary of the Company, and (ii) the Annual Incentive Compensation Committee of Ford Motor Company (or any committee appointed by it for the purpose) with respect to any other Eligible Retired Executive, and shall apply to any amounts payable after the date of the applicable committee’s action hereunder, regardless of whether the Eligible Retired Executive has commenced receiving any benefits hereunder. Conduct which constitutes engaging in an activity that is directly or indirectly in competition with any activity of the Company or any Subsidiary or Affiliate thereof shall be governed by the two immediately preceding paragraphs of this Section 6 and shall not be subject to any determination under this paragraph.
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