Common use of Excess Pension Plan Clause in Contracts

Excess Pension Plan. If your base salary is in excess of $170,000, you are a participant in the Times Mirror Excess Pension Plan. Provided you are an employee of Times Mirror at the Effective Date, accrued benefits earned as of the Effective Date under the Excess Pension Plan will become fully vested. Benefits under the Excess Pension Plan will be determined under the same rules as the qualified pension plan and will include credit for any severance payment received as a result of the change of control up to one additional year credit for service and salary, that cannot be recognized under the qualified pension plan.