Common use of Discontinued Plan Clause in Contracts

Discontinued Plan. The term “Discontinued Plan” includes any Retirement Plan, the Savings Plan and/or the KeyCorp Deferred Savings Plan that: (a) the Executive was covered by and participating in immediately before the occurrence of a Change of Control, and (b) was, between the date of the Change of Control and the Termination Date, either terminated or altered in such a way as to substantially reduce the benefits provided to the Executive thereunder without having been substituted for by a similar plan providing substantially similar benefits to the Executive.