Attached files
| file | filename |
|---|---|
| 8-K - FORM 8-K - NORDSTROM INC | d498018d8k.htm |
Exhibit 10.1
AMENDMENT 2013-1
NORDSTROM LEADERSHIP SEPARATION PLAN
The Nordstrom Leadership Separation Plan, as restated effective March 1, 2005 (the “Plan”), is hereby amended effective February 27, 2013, to reduce the maximum possible months of Cash Severance Benefits available under the Plan for certain leadership levels.
1. Article IV Plan Benefits is amended by deleting subsection A.1. Severance Benefit Amount and replacing it with the following to clarify that the Cash Severance Benefits available under the Plan are subject to certain minimum and maximum parameters as set forth in the Schedule of Benefits:
| “A. | Cash Severance Benefits. |
| 1. | Severance Benefit Amount. A Participant will receive the Cash Severance Benefits specified in the Schedule of Benefits, based on his or her designated Leadership Level, Years of Service and Annual Salary. Calculation of Cash Severance Benefits is subject to the minimum and maximum time periods set forth in the Schedule of Benefits for the Plan.” |
* * *
2. The Schedule of Benefits for the Plan is amended in its entirety as follows to reduce the maximum number of months that may be used to calculate Cash Severance Benefits for Business and Company leadership level employees who are Designated Leadership Employees:
NORDSTROM LEADERSHIP SEPARATION PLAN
Schedule of Benefits
As of February 27, 2013
| Leadership Level | Years of
Service Category |
Cash Severance (per year of service) |
Minimum – Maximum for Cash Severance Benefits |
Period of Medical/ Dental Premium Assistance |
Outplacement Services | |||||
| Company and Business |
All years | 1 month | 6 - 12 months | 12 months | 6 months | |||||
| Core and Key |
20 or more years | 2 weeks | 12 - 52 weeks | 12 months | 6 months | |||||
|
12 – 19 years
|
||||||||||
| 6 months | ||||||||||
| 6 – 11 years | 1 ½ weeks |
3 months | ||||||||
| 0 – 5 years | 3 months |
LEADERSHIP SEPARATION PLAN
AMENDMENT 2013-1
| Note: | COBRA-related benefit provided only if the Participant is not eligible for the Nordstrom Retiree Health Plan or if Participant elects not to participate in that plan. |
Approved pursuant to proper authority this 5th day of March 2013.
| NORDSTROM, INC. | ||||||||
| By: | /s/ Delena M. Sunday | |||||||
| Its: | Executive Vice President, | |||||||
| Human Resources and Diversity Affairs | ||||||||
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LEADERSHIP SEPARATION PLAN
AMENDMENT 2013-1