Supplemental Savings Plan (2008)Full Document 

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BIOGEN IDEC INC.
SUPPLEMENTAL SAVINGS PLAN
(Plan Provisions as in Effect on January 1, 2008)

 


 

TABLE OF CONTENTS
             
        Page
 
           
ARTICLE 1
  INTRODUCTION     1  
1.1
  Purpose and Effective Date     1  
 
           
ARTICLE 2
  DEFINITIONS     1  
2.1
  401(k) restoration     1  
2.2
  Applicable compensation     1  
2.3
  Base salary     1  
2.4
  Biogen Idec     1  
2.5
  Biogen SERP     1  
2.6
  Board     1  
2.7
  Bonus     1  
2.8
  Change in Control     1  
2.9
  Code     2  
2.10
  Committee     2  
2.11
  Compensation Committee     2  
2.12
  Disability     2  
2.13
  Employee     2  
2.14
  Employer     2  
2.15
  ERISA     2  
2.16
  Excess applicable compensation     2  
2.17
  Participant     2  
2.18
  Plan     2  
2.19
  Plan year     2  
2.20
  Prior plan     3  
2.21
  Savings Plan     3  
2.22
  Service     3  
2.23
  Transition credit     3  
2.24
  Voluntary deferred compensation     3  
2.25
  Years of service     3  
 
           
ARTICLE 3
  PARTICIPATION     3  
3.1
  Eligibility and Participation     3  
3.2
  End of Participation     4  
 
           
ARTICLE 4
  VOLUNTARY DEFERRALS BY PARTICIPANTS; EMPLOYER CREDITS     4  
4.1
  401(k) Restoration     4  
4.2
  Voluntary Deferrals     4  
4.3
  Transition Credit     5  
4.4
  Election Procedures     5  
 
           
ARTICLE 5
  PARTICIPANT ACCOUNTS     7  
5.1
  Participant Accounts     7  
5.2
  Participant’s Account Value     7  
5.3
  Vesting     10  
 
           
ARTICLE 6
  DISTRIBUTIONS TO PARTICIPANT     10  
6.1
  Distributions for Unforeseeable Emergency     10  
6.2
  Distribution Upon Change in Control     11  
6.3
  In-Service Distribution(s) at a Time Specified by Participant     11  
6.4
  Distribution upon Death of a Participant     11  
6.5
  Distribution upon Participant’s Termination of Employment     12  
6.6
  Installment Distributions in Certain Cases     12  
6.7
  Certain Other Distributions     13  

 


 

             
 
      Page
6.8
  Delay in Distributions     13  
6.9
  Compliance with Code Section 409A     13  
 
           
ARTICLE 7
  MISCELLANEOUS     13  
7.1
  Amendment or Termination of Plan     13  
7.2
  Benefits Not Currently Funded     14  
7.3
  No Assignment     14  
7.4
  Effect of Change in Control     15  
7.5
  Responsibilities and Authority of Committee     15  
7.6
  Limitation on Rights Created by Plan     15  
7.7
  Tax Withholding     15  
7.8
  Text Controls     16  
7.9
  Applicable State Law     16  
7.10
  Paperless Administration     16  
 
           
 
  APPENDIX A     A-l  
 
  APPENDIX B     B-l  

 


 

ARTICLE 1
INTRODUCTION
1.1 Purpose and Effective Date. The purpose of this plan is to provide certain key executives and managers of Biogen Idec (or its subsidiaries) with additional tax-deferred savings opportunities supplementing those available under the Savings Plan. This plan allows certain eligible participants to make voluntary deferrals from base salary or bonus if elected by a participant. In addition, certain participants whose compensation exceeds the Code Section 401(a)(17) limit applicable to the Savings Plan will receive an employer 401(k) restoration credit in accordance with Section 4.1, and certain participants received transition credits in accordance with Section 4.3.
     This plan also contains certain account balances or benefits previously maintained under the amended and restated IDEC Pharmaceuticals Corporation Deferred Compensation Plan, the Biogen, Inc. Voluntary Executive Supplemental Savings Plan, and the Biogen, Inc. Supplemental Executive Retirement Plan.
     This amended and restated plan document is effective as of January 1, 2005, except as otherwise specified. Certain historical information about the plan and any amendments thereto is set forth in Appendix A.

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