ERISA SUPPLEMENTAL PLAN 1
EFFECTIVE DECEMBER 1, 1993
receive a benefit under this Plan if:
(a) he or she has vested in benefits under one or both Pension Plans;
(b) he or she has vested benefits reduced because of the application of section 415; and
(c) he or she is not eligible to receive a benefit under the Northrop Corporation Supplemental Retirement Income
Plan for Senior Executives.
1.01 Company means the Company as designated in the
1.02 Participant means any employee who (a) is eligible
for benefits under one or both Pension Plans, (b)
meets the eligibility requirements of Section 2.02
of this Plan and (c) and has not received full
payment under the Plan.
1.03 Plan means the Northrop Corporation ERISA
Supplemental Plan 1.
1.04 Pension Plan Benefits is defined in Section 2.08
of this Plan.
1.05 Pension Plan and Pension Plans mean the Northrop
Retirement Plan and/or the Retirement Plan of
Northrop Corporation, Electronic Systems
DivisionRolling Meadows Site.
Eligibility for and Amount of Benefits
2.01 Purpose. The purpose of this Plan is simply to
restore to employees of the Company the benefits
they lose under the Pension Plans as a result of
the benefit limits in section 415 of the Internal
Revenue Code of 1986, as amended, or any successor
section (section 415).
2.02 Eligibility. Each Participant is eligible to
2.03 Amount of Benefit. The benefit payable from the
Company under this Plan to a Participant will
equal the retirement benefit, if any, which would
have been payable to the Participant under the
terms of a Pension Plan but for the restrictions
of section 415.
The benefit payable under this Plan will be