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Intersil - CORPORATE RETIREMENT PLAN
EXHIBIT 10.36
INTERSIL CORPORATION
RETIREMENT PLAN
(NON-UNION)
TABLE OF CONTENTS
ARTICLE I DEFINITIONS.........................................................1
1.1. Accounts .........................................................1
1.2. Affiliate ........................................................1
1.3. After-Tax Account ................................................1
1.4. After-Tax Contributions ..........................................1
1.5. Basic Account ....................................................1
1.6. Beneficiary ......................................................1
1.7. Break-in-Service .................................................2
1.8. Code .............................................................2
1.9. Compensation .....................................................2
1.10. Corporation ......................................................3
1.11. Disability .......................................................3
1.12. Early Retirement Age .............................................3
1.13. Effective Date ...................................................3
1.14. Employee .........................................................3
1.15. Employer .........................................................4
1.16. ERISA ............................................................4
1.17. Excess Compensation ..............................................4
1.18. Full-Time Employee ...............................................4
1.19. Harris Stock Fund ................................................4
1.20. Harris Stock After-Tax Account ...................................5
1.21. Harris Stock Matching Account ....................................5
1.22. Harris Stock Pre-Tax Account .....................................5
1.23. Highly Compensated Employee ......................................5
1.24. Hour of Service ..................................................5
1.25. Investment Funds .................................................5
1.26. Layoff ...........................................................6
1.27. Leave of Absence .................................................6
1.28. Matching Account .................................................6
1.29. Matching After-Tax Contributions .................................6
1.30. Matching Contributions ...........................................7
1.31. Matching Pre-Tax Contributions ...................................7
1.32. Military Service .................................................7
1.33. Normal Retirement Age ............................................7
1.34. Participant ......................................................7
1.35. Period of Service ................................................7
1.36. Period of Severance ..............................................8
1.37. Plan .............................................................8
1.38. Plan Year ........................................................8
1.39. Predecessor Company ..............................................8
1.40. Predecessor Plan .................................................8
1.41. Pre-Tax Account ..................................................8
i Intersil Retirement Plan (Non-Union)
1.42. Pre-Tax Contributions ............................................8
1.43. Profit-Sharing Account ...........................................8
1.44. Profit-Sharing Contributions .....................................8
1.45. Retirement Committee .............................................8
1.46. Rollover Account .................................................9
1.47. Savings Account ..................................................9
1.48. SERP .............................................................9
1.49. Severance from Service Date ......................................9
1.50. Supplemental Account .............................................9
1.51. Taxable Wage Base ................................................9
1.52. Trust Agreement .................................................10
1.53. Trust Fund ......................................................10
1.54. Trustee .........................................................10
1.55. Valuation Date ..................................................10
ARTICLE II PARTICIPATION.....................................................11
2.1. In General.......................................................11
2.2. Renewal of Participation on Reemployment.........................11
2.3. Periods of Service on Reemployment...............................12
2.4. Service with an Acquired Company.................................12
2.5. Employment by Non-Participating Affiliates.......................13
2.6. Military Service.................................................13
ARTICLE III CONTRIBUTIONS AND ALLOCATIONS....................................15
3.1. Profit-Sharing Contributions.....................................15
3.2. Allocation of Profit-Sharing Contribution to Participants........15
3.3. Pre-Tax Contributions............................................17
3.4. Matching Pre-Tax Contributions...................................18
3.5. After-Tax Contributions for Participants Credited with at least
a One-Year Period of Service.....................................18
3.6. Matching After-Tax Contributions.................................19
3.7. Elections to Make Pre-Tax and After-Tax Contributions............19
3.8. Rollover Contributions...........................................20
3.9. Employer's Obligation to Make Contributions......................21
3.10. Treatment of Forfeited Amounts...................................22
3.11. Finality of Allocations..........................................22
ARTICLE IV LIMITATIONS ON CONTRIBUTIONS......................................23
4.1. In General.......................................................23
4.2. Pre-Tax Contributions............................................23
4.3. Limitations on Contributions for Highly Compensated Employees....23
4.4. Limitations on Annual Additions..................................33
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ARTICLE V VESTING AND FORFEITURES............................................35
5.1. In General.......................................................35
5.2. Vesting on Retirement, Death or Disability.......................35
5.3. Vesting on Other Termination of Employment.......................35
5.4. Effect of In-Service Withdrawals on a Participant's Vested
Percentage.......................................................36
5.5. Forfeitures......................................................37
ARTICLE VI ACCOUNTS AND INVESTMENTS..........................................38
6.1. Establishment of Accounts........................................38
6.2. Investment of Accounts...........................................40
6.3. Allocation of Earnings and Losses................................42
6.4. Special Rules Concerning Harris Stock Fund.......................42
ARTICLE VII DISTRIBUTIONS....................................................44
7.1. In General.......................................................44
7.2. Small Benefit Cash-out...........................................44
7.3. Form of Payment..................................................45
7.4. Time of Payment..................................................46
7.5. Direct Rollover..................................................46
7.6. Payments on Death................................................47
7.7. Benefit Amount and Withholding...................................48
7.8. Order of Distributions...........................................48
7.9. Statutory Requirements...........................................49
7.10. Designating Beneficiaries........................................52
7.11. Inability to Locate Participant..................................53
ARTICLE VIII LOANS...........................................................53
8.1. In General, Loans to Participants................................53
ARTICLE IX IN-SERVICE WITHDRAWALS............................................55
9.1. Withdrawals from Savings Account and After-Tax Account...........55
9.2. Withdrawals from Rollover, Pre-Tax and Profit Sharing Accounts...55
9.3. Conditions Applicable to All Withdrawals.........................57
9.4. Reduction of Investment Fund Balances............................58
ARTICLE X TOP-HEAVY PROVISIONS...............................................58
10.1. In General.......................................................58
10.2. Minimum Allocation...............................................58
10.3. Minimum Vesting..................................................59
10.4. Definitions......................................................59
iii Intersil Retirement Plan (Non-Union)
ARTICLE XI ADMINISTRATION....................................................63
11.1. Named Fiduciaries................................................63
11.2. Retirement Committee.....................