Attached files
Exhibit 10.54
FIRST AMENDMENT TO AQUA AMERICA, INC.
SUPPLEMENTAL PENSION BENEFIT PLAN
FOR SALARIED EMPLOYEES
SUPPLEMENTAL PENSION BENEFIT PLAN
FOR SALARIED EMPLOYEES
(As Amended and Restated Effective January 1, 2008)
WHEREAS, Aqua America, Inc. (the “Company”) maintains the Aqua America, Inc. Supplemental
Pension Benefit Plan for Salaried Employees (the “Plan”) for the benefit of a select group of
management and highly compensated employees; and
WHEREAS, the Company desires to amend the Plan to increase the benefit payable to a Surviving
Spouse;
NOW, THEREFORE, effective as of the date set forth below, Section 1.16 of the Plan is hereby
amended to read as follows:
1.16 “Surviving Spouse Benefit” means the survivor annuity payable to the
Surviving Spouse determined as if the Participant had retired on the later of the day prior
to his death or on the date of his earliest retirement age (having survived to such date),
with an immediate joint and survivor annuity. The survivor annuity percentage shall be 75%
with respect to Participants in Part A of the Retirement Plan and 50% with respect to
Participants in Part C of the Retirement Plan. A Surviving Spouse Benefit shall be
determined in the form of a single life annuity (based on such survivor annuity) for the
life of the Surviving Spouse commencing on the later of the Participant’s date of death or
earliest retirement age. Earliest retirement age shall have the same meaning as under the
Retirement Plan.
IN WITNESS WHEREOF, Aqua America, Inc. has caused this Amendment to be duly executed, under
seal, this 10th day of December, 2009.
| AQUA AMERICA, INC. | ||||
Maria Gordiany
|
By: | Roy H. Stahl | ||
Assistant Secretary
|
Chief Administrative Officer, General Counsel and Secretary |
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[Corporate Seal]