This excerpt taken from the DIS 10-K filed Nov 20, 2008.
Article 4. Retirement Income
FACE="Times New Roman" SIZE="2">4.1 Determination of Retirement Income
(a)
Except as provided in this Plan section, a Participant’s Retirement Income payable for the Participant’s lifetime (or other form in which the accrued benefit is defined) as of his Benefit Calculation Date shall be equal to the benefit that would have been payable to the Participant under the applicable provision(s) of the Retirement Plan as of the Benefit Calculation Date determined:
To the extent that a Participant’s name is set forth in Committee records on or before December 31, 2008, in determining the amount of the Participant’s Retirement Income, the amount determined under subsection (a) shall be further reduced by the Retirement Income amount stated in the Committee records for such Participant that was paid on or about the January 1, 1996. This amount reflects the annuity value on which a lump sum was paid to the Participant under the terms of the Plan then in effect as a result of the Change in Control by which The Walt Disney Company acquired ABC, Inc.
If Schedule XXVI of the Retirement Plan, relating to the reduction in the Code section 401(a)(17) limit that became effective for Plan Years beginning on or after January 1, 1994, applies to the determination of the Participant’s Retirement Plan Benefit, then the Participant’s Retirement Income under subsection (a) shall be determined without regard to any amounts attributable to the sum of the pre-1994 portion and post-1993 portion of the Participant’s Retirement Plan Benefit to the extent that such benefit otherwise payable under the Retirement Plan exceeds the limitations imposed by Code sections 401(a)(17) and 415.
(d)
To the extent that a Participant is entitled to Retirement Income under section XXXVII of the Retirement Plan, the Participant’s Retirement Income determined under subsection (a) shall be determined based solely on the formula effective January 1, 1993 and without taking into consideration the Participant’s accrued benefit as of December 31, 1993, as determined under the applicable portion of the Retirement Plan as in effect as of December 31, 1992.
(e)
To the extent that a Participant is entitled to Retirement Income on account of a Change in Control, the Participant’s Retirement Income determined under subsection (a) shall be determined as if:
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(1)
The Participant “Severed from Service” as that term is defined under the Retirement Plan with a fully vested Retirement Plan Benefit on the last day of the month preceding the Change in Control, and
(2)
The Participant’s Retirement Plan Benefit is payable as of the date the Participant attains age 65 (or the Participant’s actual age, if later), and to the extent the Benefit Calculation Date occurs prior to such date, the amount of the Participant’s Retirement Income, after taking into account any adjustments in subsections (b), (c) and (d), is reduced on an Actuarially Equivalent basis to the Participant’s Benefit Calculation Date.
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