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W.W. Grainger (GWW)
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GWW » Topics » Date Creating an Entitlement

These excerpts taken from the GWW 10-K filed Feb 27, 2008.
Date Creating an Entitlement” shall mean the Participant’s date of death for benefits described in Section 4.1 or date of Separation from Service for benefits described in Section 4.3. Notwithstanding, if a Participant’s annual salary and/or target bonus under the Company’s Management Incentive Program is significantly decreased while such Participant continues to be employed in good standing by the Company, the Committee may, in its sole discretion, define Date Creating an Entitlement for that Participant as the day immediately prior to the effective date of such decrease.

Date Creating an Entitlement” shall mean the Participant’s date of death for benefits described in Section 4.1 or date of Separation from Service for benefits described in Section 4.3. Notwithstanding, if a Participant’s annual salary and/or target bonus under the Company’s Management Incentive Program is significantly decreased while such Participant continues to be employed in good standing by the Company, the Committee may, in its sole discretion, define Date Creating an Entitlement for that Participant as the day immediately prior to the effective date of such decrease.



EXCERPTS ON THIS PAGE:

10-K (2 sections)
Feb 27, 2008

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