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Dupont E I De Nemours & Co – ‘10-Q’ for 6/30/15 – ‘EX-10.4’

On: Tuesday, 7/28/15, at 1:16pm ET · For: 6/30/15 · Accession #: 30554-15-70 · File #: 1-00815

  As Of               Filer                 Filing    For·On·As Docs:Size

 7/28/15  Dupont E I De Nemours & Co        10-Q        6/30/15   84:9.6M

Quarterly Report — Form 10-Q — Sect. 13 / 15(d) – SEA’34
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 10-Q        Quarterly Report                                    HTML    630K 
 2: EX-10.3     Material Contract                                   HTML     37K 
 3: EX-10.4     Material Contract                                   HTML     39K 
 9: EX-95       Mine-Safety Disclosure                              HTML     31K 
 4: EX-12       Statement re: Computation of Ratios                 HTML     33K 
 5: EX-31.1     Certification -- §302 - SOA'02                      HTML     32K 
 6: EX-31.2     Certification -- §302 - SOA'02                      HTML     32K 
 7: EX-32.1     Certification -- §906 - SOA'02                      HTML     26K 
 8: EX-32.2     Certification -- §906 - SOA'02                      HTML     26K 
57: R1          Document and Entity Information                     HTML     44K 
44: R2          Consolidated Income Statements                      HTML     80K 
55: R3          Consolidated Statements of Comprehensive Income     HTML     89K 
59: R4          Condensed Consolidated Balance Sheets               HTML    135K 
77: R5          Condensed Consolidated Balance Sheets               HTML     38K 
                (Parenthetical)                                                  
47: R6          Condensed Consolidated Statements of Cash Flows     HTML    113K 
54: R7          Summary of Significant Accounting Policies          HTML     44K 
40: R8          Divestitures and Other Transactions                 HTML     35K 
31: R9          Employee Separation / Asset Related Charges, Net    HTML     54K 
78: R10         Other Income, Net                                   HTML     54K 
61: R11         Provision for Income Taxes                          HTML     35K 
60: R12         Earnings Per Share of Common Stock                  HTML     59K 
66: R13         Inventories                                         HTML     37K 
67: R14         Other Intangible Assets                             HTML     80K 
64: R15         Long-Term Borrowings                                HTML     31K 
68: R16         Commitments and Contingent Liabilities              HTML     71K 
56: R17         Stockholders' Equity                                HTML    236K 
58: R18         Financial Instruments                               HTML    187K 
63: R19         Long-Term Employee Benefits                         HTML     69K 
84: R20         Segment Information                                 HTML    219K 
73: R21         Subsequent Events                                   HTML     54K 
51: R22         Summary of Significant Accounting Policies Summary  HTML     48K 
                of Significant Accounting Policies (Policies)                    
62: R23         Employee Separation / Asset Related Charges, Net    HTML     48K 
                (Tables)                                                         
53: R24         Other Income, Net (Tables)                          HTML     53K 
24: R25         Earnings Per Share of Common Stock (Tables)         HTML     59K 
74: R26         Inventories (Tables)                                HTML     36K 
80: R27         Other Intangible Assets (Tables)                    HTML     77K 
35: R28         Commitments and Contingent Liabilities (Tables)     HTML     42K 
34: R29         Stockholders' Equity (Tables)                       HTML    226K 
38: R30         Financial Instruments (Tables)                      HTML    174K 
39: R31         Long-Term Employee Benefits (Tables)                HTML     66K 
41: R32         Segment Information (Tables)                        HTML    216K 
22: R33         Subsequent Events (Tables)                          HTML     48K 
71: R34         Summary of Significant Accounting Policies          HTML     26K 
                Venezuelan Foreign Currency Translation (Details)                
49: R35         Divestitures and Other Transactions (Narrative)     HTML     39K 
                (Details)                                                        
52: R36         Employee Separation / Asset Related Charges, Net    HTML     36K 
                Employee Separation / Asset Related Charges, Net                 
                (Chemours Restructuring Program) (Details)                       
27: R37         Employee Separation / Asset Related Charges, Net    HTML     82K 
                (2014 Restructuring Program schedule) (Details)                  
83: R38         Employee Separation / Asset Related Charges, Net    HTML     35K 
                (Narrative) (Details)                                            
16: R39         Other Income, Net (Schedule of Other Income)        HTML     62K 
                (Details)                                                        
42: R40         Provision for Income Taxes (Details)                HTML     37K 
76: R41         Earnings Per Share of Common Stock (Earnings Per    HTML     43K 
                Share of Common Stock Reconciliation) (Details)                  
26: R42         Earnings Per Share of Common Stock Earnings Per     HTML     31K 
                Share of Common Stock (Schedule of Average Number                
                of Antidultive Stock Options) (Details)                          
33: R43         Inventories (Details)                               HTML     40K 
37: R44         Other Intangible Assets (Schedule of Other          HTML     67K 
                Intangible Assets) (Details)                                     
45: R45         Other Intangible Assets (Narrative) (Details)       HTML     44K 
21: R46         Long-Term Borrowings (Narrative) (Details)          HTML     65K 
30: R47         Commitments and Contingent Liabilities              HTML     55K 
                (Guarantees) (Details)                                           
18: R48         Commitments and Contingent Liabilities (Imprelis)   HTML     40K 
                (Narrative) (Details)                                            
75: R49         Commitments and Contingent Liabilities              HTML     56K 
                (Litigation) (Narrative) (Details)                               
25: R50         Commitments and Contingent Liabilities Commitments  HTML     35K 
                and Contingent Liabilities (Environmental)                       
                (Narrative) (Details)                                            
72: R51         Stockholders' Equity (Share Repurchase Program)     HTML     48K 
                (Narrative) (Details)                                            
28: R52         Stockholders' Equity (Schedule of Other             HTML    158K 
                Comprehensive Income) (Details)                                  
43: R53         Stockholder's Equity (Schedule of Accumulated       HTML     71K 
                Other Comprehensive Loss) (Details)                              
17: R54         Financial Instruments (Debt) (Narrative) (Details)  HTML     27K 
20: R55         Financial Instruments (Cash Equivalents)            HTML     29K 
                (Narrative) (Details)                                            
36: R56         Financial Instruments (Notional Amounts of          HTML     36K 
                Derivatives) (Details)                                           
23: R57         Financial Instruments (Effect of Cash Flows Hedges  HTML     38K 
                on Accumulated Other Comprehensive Income (Loss))                
                (Details)                                                        
79: R58         Financial Instruments (Schedule of the Fair Value   HTML     66K 
                of Derivative Instruments) (Details)                             
48: R59         Financial Instruments (Effect of Derivative         HTML     68K 
                Instruments) (Details)                                           
65: R60         Long-Term Employee Benefits Long Term Employee      HTML     29K 
                Benefits Defined Benefit Plans (Narrative)                       
                (Details)                                                        
29: R61         Long-Term Employee Benefits (Schedules of Net       HTML     56K 
                Periodic Benefit Cost) (Details)                                 
32: R62         Segment Information (Schedule of Segment            HTML    125K 
                Information) (Details)                                           
70: R63         Segment Information (Reconciliation to              HTML     59K 
                Consolidated Income Statements) (Details)                        
69: R64         Subsequent Events (Narrative) (Details)             HTML     50K 
50: R65         Subsequent Events (Pro Forma Income Statement)      HTML     53K 
                (Details)                                                        
82: R9999       Uncategorized Items - dd-20150630.xml               HTML     25K 
81: XML         IDEA XML File -- Filing Summary                      XML    146K 
19: EXCEL       IDEA Workbook of Financial Reports                  XLSX     91K 
10: EX-101.INS  XBRL Instance -- dd-20150630                         XML   3.53M 
12: EX-101.CAL  XBRL Calculations -- dd-20150630_cal                 XML    262K 
13: EX-101.DEF  XBRL Definitions -- dd-20150630_def                  XML    856K 
14: EX-101.LAB  XBRL Labels -- dd-20150630_lab                       XML   1.57M 
15: EX-101.PRE  XBRL Presentations -- dd-20150630_pre                XML    967K 
11: EX-101.SCH  XBRL Schema -- dd-20150630                           XSD    183K 
46: ZIP         XBRL Zipped Folder -- 0000030554-15-000070-xbrl      Zip    273K

‘EX-10.4’ — Material Contract

This Exhibit is an HTML Document rendered as filed. [ Alternative Formats ]

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DD-Ex.10.4_2015.6.30_Q2

Exhibit 10.4

RULES FOR LUMP SUM PAYMENTS

Adopted May 15, 2014


I.	Payment of Benefits

A. Payments under the Pension Restoration Plan for employees who terminated employment and elect to commence the payment of benefits on or before December 31, 2006 will be determined in accordance with the Rules for Lump Sum Payments in effect at the date payments commenced. Payments under the Pension Restoration Plan for employees who terminated employment on or before December 30, 2006 but as of January 1, 2007 had not yet elected to commence payment of benefits will be made in accordance with the Rules for Lump Sum Payments in effect on January 1, 2007.

B. Effective for employees who terminate employment on or after December 31, 2006 the benefit payable under the Pension Restoration Plan will be one lump sum payment paid at the later of:

(a) The end of the month coincident with or next following the three month anniversary of the employee’s termination date, except for officers of the Company for whom the three month period shall be a six month period; or

(b) The end of the month in which the Earliest Benefit Commencement Date occurs.

For purposes of the Plan, the Earliest Benefit Commencement Date is defined as follows:



Age at Termination	Service at Termination	Earliest Benefit Commencement Date
At least 50	15 or more	Termination Date + 1 Day *
Not yet 50	15 or more	First Day of the Month Following Age 50
Any Age	10 through 14	First Day of the Month Following Age 60
Any Age	Less than 10	First Day of the Month Following Age 65

* Note: For those employees who terminate in connection with a Reduction in Force prior to age 50 who are eligible for an Optional Pension at termination, the Earliest Benefit Commencement Date is Termination Date + 1 Day.

II. Amount Payable

B. Effective for employees who terminate employment on or after December 31, 2006 the benefit payable under the Pension Restoration Plan will be the lump sum present value of the monthly pension and company-paid survivor benefit, if applicable, under the Pension and Retirement Plan calculated without application of the limitations on such payment set forth in paragraphs A(2)(b)(iii) relating to deferred Variable Compensation Awards, A(2)(b)(v) and D of Section IX of such Plan, or effective with payments made after January 1, 1996, the limitations on such payments set forth in paragraphs A(2)(b)(v) and D of Section IX of such Plan, less the amount of the actual monthly pension and company-paid survivor benefit, if applicable, payable under the Pension and Retirement Plan assuming such benefit commenced as of the Earliest Benefit Commencement Date defined under the Pension Restoration Plan.

The lump sum present value shall be determined as of the Earliest Benefit Commencement Date using the Applicable Interest Rate and the Applicable Mortality Table. The term “Applicable Interest Rate” means, for benefit commencement dates during a calendar quarter, the average, rounded to two decimal places, of the rate of interest prescribed by the Secretary of the Treasury as required by Section 417(e)(3) of the Internal Revenue Code for the fourth and fifth month preceding the first day of the calendar quarter. The term “Applicable Mortality Table” means the table prescribed by the Secretary of the Treasury as required by Section 417(e)(3) of the Internal Revenue Code. The amount payable will be determined without regard to any optional forms of payment elected under the Pension and Retirement Plan and will include the value of the company-paid survivor benefit, if applicable, converted to a lump sum based on the actual age of the survivor unless the employee is single at the time of termination, in which case the value will be calculated on the assumption that the employee has a spouse of the same age.

If the Earliest Benefit Commencement Date is the first day of a month, the amount payable will be credited with interest each month at the Applicable Interest Rate for such month beginning with the first day of the month following the month of the Earliest Benefit Commencement Date and ending with the end of the month of the payment date. If the Earliest Benefit Commencement Date is not the first day of a month, the amount payable will be credited with interest each month at the Applicable Interest Rate for such month beginning with the first day of the month following the one month anniversary of the Earliest Benefit Commencement Date and ending with the end of the month of the payment date.

When a former employee is granted a Variable Compensation Award or variable pay after termination, the amount payable under the Pension Restoration Plan will be recalculated. If the recalculated amount exceeds the amount previously determined, an incremental lump sum will be determined and paid as soon as practicable after the recalculation, but not earlier than the date specified in Section I above. Any incremental lump sum amount will be calculated based on the employee’s age and the Applicable Interest Rate in effect on the Earliest Benefit Commencement Date. All payments from the Pension Restoration Plan will be made at the end of a month.

III. Future Adjustments

An employee who receives a lump sum under this Plan will not be eligible for future adjustments on the portion of retirement income previously converted to a lump sum.

IV. Amount Payable in the Event of the Death of An Active Employee

Following the death on or after December 31, 2006 of an active employee with 15 or more years of service whose survivor(s) is eligible to receive payments under this Plan, the amount payable to the survivor(s) will be the lump sum present value of the benefit determined in paragraph A of Section VI of the Pension and Retirement Plan calculated without application of the limitations on such payment set forth in paragraphs A(2)(b)(iii) relating to deferred Variable Compensation Awards, A(2)(b)(v) and D of Section IX of such Plan, or effective with payments made after January 1, 1996, the limitations on such payments set forth in paragraphs A(2)(b)(v) and D of Section IX of such plan, less the amount payable to the survivor(s) under the Pension and Retirement Plan. The lump sum present value will be determined as of the first day of the month following the employee’s death using the Applicable Interest Rate and the Applicable Mortality Table described in Section II above.

Following the death on or after May 15, 2014 active employee age 50 with 15 or more years of service whose survivor(s) is eligible to receive payments under the Pension Restoration Plan, the amount payable to the survivor(s) will be 50% of the amount that would have been paid to the participant under Article II.B. had the participant terminated employment on the date of death.

V. Beneficiary Designation

If a former employee dies after his Earliest Benefit Commencement Date, but before payment is made under this Plan, the calculated lump sum amount to which such former employee would have been entitled shall be paid to the designated beneficiary, or to such former employee’s estate.

VI. Right to Modify

The Company reserves the right to change the Rules in its discretion by action of the Board of Directors or its delegate; provided, however, that no amendment may be made to the Rules following a Change in Control (as defined in the Company’s Equity and Incentive Plan, a “Change in Control”) unless necessary to comply with any new legal requirements adopted after the date of the Change in Control.

Dates Referenced Herein and Documents Incorporated by Reference

This ‘10-Q’ Filing	Date	Other Filings

Filed on:	7/28/15	8-K
For Period end:	6/30/15
	5/15/14
	1/1/07
	12/31/06	10-K, 11-K, 4
	12/30/06
	1/1/96
		List all Filings

4 Subsequent Filings that Reference this Filing

  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

 2/08/24  Corteva, Inc.                     10-K       12/31/23  176:25M
 2/09/23  Corteva, Inc.                     10-K       12/31/22  166:28M
 2/10/22  Corteva, Inc.                     10-K       12/31/21  187:29M
 2/11/21  Corteva, Inc.                     10-K       12/31/20  196:32M

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Filing Submission 0000030554-15-000070 – Alternative Formats (Word / Rich Text, HTML, Plain Text, et al.)