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Quotes & Info
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| TNL > SEC Filings for TNL > Form 8-K on 15-Jul-2009 | All Recent SEC Filings |
15-Jul-2009
Other Events
On July 9, 2009, Technitrol's Board of Directors terminated the Technitrol, Inc. Supplemental Retirement Plan amended and restated effective January 1, 2009 (the "409A Plan"). The 409A Plan, which was filed as Exhibit 10.8(3) to Technitrol's Form 8-K dated December 31, 2008, applies to benefits accrued by participants from January 1, 2005 until the present period. In connection with the 409 Plan termination, which is effective as of June 26, 2009, participants consisting of ten present and former employees received payments of the benefits due them in accordance with the terms of the plan which have been previously described in the Definitive Proxy Statement on Schedule 14A dated April 9, 2009 for Technitrol's 2009 annual shareholders meeting. Payments were made from the trust established under the Technitrol, Inc. Grantor Trust Agreement dated July 5, 2006 which was filed as Exhibit 10.8(1) to Technitrol's Form 8-K dated July 11, 2006 (the "Trust"). Other than amounts previously paid into the Trust, the aggregate cash cost to Technitrol to fund obligations arising before the 409A Plan termination was approximately $3.2 million. The 409A Plan termination has no effect on either the Trust or Technitrol's Supplemental Retirement Plan amended and restated effective December 31, 2004 (the "Pre-409A Plan"). The Pre-409A Plan, which was filed as Exhibit 10.8(2) to Technitrol's Form 8-K dated December 31, 2008, applies to benefits accrued by participants from inception of the plan through December 31, 2004.
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