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This excerpt taken from the GIS DEF 14A filed Aug 10, 2009. Executive
Survivor Income Plan
In the event that a named executive officer dies, his or her
surviving spouse, or dependents if there is no surviving spouse,
receive a monthly benefit equal to a percentage of the named
executive officer’s final average earnings under the
Pension Plan (1/12 of 25% for spouses or 1/12 of 12.5% divided
equally among dependents). Benefits continue until the
spouse’s death or until the dependents no longer satisfy
certain eligibility requirements. This benefit is reduced by
benefits payable under the company’s retirement plans. The
benefit valuation at the end of this section assumes payments to
a surviving spouse. No new participants have been accepted into
the Executive Survivor Income Plan since September 1, 2000.
All of the named executive officers except Mr. Mulligan
participate in the Plan.
This excerpt taken from the GIS DEF 14A filed Aug 12, 2008. Executive
Survivor Income Plan
In the event that a named executive officer dies, his or her
surviving spouse, or dependents if there is no surviving spouse,
receive a monthly benefit equal to a percentage of the named
executive officer’s final average earnings under the
Pension Plan (1/12 of 25 percent for spouses or 1/12 of
12.5 percent divided equally among dependents). Benefits
continue until the spouse’s death or until the dependents
no longer satisfy certain eligibility requirements. This benefit
is reduced by benefits payable under the company’s
retirement plans. The benefit valuation at the end of this
section assumes payments to a surviving spouse. No new
participants have been accepted into the Executive Survivor
Income Plan since September 1, 2000.
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