|CUMMINS INC filed this Form 10-K on 02/11/2019|
(q) “Employer” means the Company and all of its Affiliated Employers.
(r) “ERISA” means the Employee Retirement Income Act of 1974, as amended from time to time.
(s) “Excess Benefit Retirement Plan” means the Cummins Inc. Excess Benefit Retirement Plan, as amended from time to time.
(t) “Executive” means (i) an individual who has been designated by the Board as an officer of the Company and who is receiving United States taxable income or (ii) any other employee of the Company designated by the Board as an executive eligible to participate in the Plan; provided in each case that the individual has consented to the purchase of insurance policies as contemplated by Article IV (and otherwise cooperates with the Company to obtain such insurance) and completed any forms or other actions required by the Administrator as a condition of participation.
(u) “Executive Retention Plan” means the Cummins Inc. Executive Retention Plan, as amended from time to time, and any successor thereto.
(v) “Grandfathered Amount” has the meaning specified in Section 1.02.
(w) “Non-Grandfathered Amount” means a benefit under the Plan in excess of the Grandfathered Amount.
(x) “Pension Plan” means the Cummins Pension Plan provisions applicable to the Executive, as amended from time to time.
(y) “Plan” means the Cummins Inc. Supplemental Life Insurance and Deferred Income Plan, as set out in this document, as amended from time to time.
(z) “Present Actuarial Value” means the present value of a future stream of payments, as determined by the Administrator using the applicable mortality table and applicable interest rate promulgated pursuant to Code Section 417(e)(3), as determined by the Administrator in its discretion.
(aa) “Prior Program” means the predecessor of this Plan for the period from January 1, 1986, through December 31, 1996.
(bb) “Service” means the total of (i) the Executive’s employment service with the Employer, plus (ii) if the Executive Terminates Employment after a Change of Control, the period of months for which Termination Payments (as defined in the Executive Retention Plan) are paid or payable to the Executive under the Executive Retention Plan. For purposes of the Plan, an Executive shall receive credit for Service for all periods of employment with the Employer, expressed in full years and months (with credit for 1/12 of a year (one month) being credited for each month during which the Executive works one day).
(cc) “Specified Employee” means, with respect to the 12-month period beginning on the Specified Employee Effective Date, an individual who, (i) during any part of the 12-month period