McKesson 2005 Annual Report Download - page 165

McKESSON CORPORATION
EXECUTIVE SURVIVOR BENEFITS PLAN
(Amended and Restated as of October 28, 2004)
A. PURPOSE
This Plan was established to enable the Company to attract and retain key executive personnel by providing survivor benefits to Executives’
Beneficiaries. This Plan amends, restates and supersedes the 1988 Executive Survivor Benefits Plan. Since its original effective date, the Plan
has been amended and restated on various occasions. The amendment and restatement has been approved by the Board as of October 28, 2004
and shall be effective as of such date except as otherwise set forth below.
B. ERISA PLAN
This Plan is a welfare benefit program intended primarily for a select group of management or highly compensated employees of the
Company. The Plan, therefore, is covered by Title I of ERISA.
C. PARTICIPATION
1. Selection by Compensation Committee. The Compensation Committee may select, at its discretion and from time to time as it decides,
the key Executives who participate in this Plan. Participation in the Plan shall be limited to those Executives of the Company who are selected
by the Compensation Committee. Selection of a key Executive to participate in the Plan may be evidenced by the terms of his or her
Employment Agreement, if any, with the Company.
2. Election Not to Participate. An Executive may elect not to participate in this Plan at any time; such election shall be in writing and shall
become effective upon its receipt by the Administrator. No compensation or benefits in lieu of this Plan shall be paid to an Executive who
elects not to participate, unless otherwise specifically approved by the Compensation Committee. An election not to participate shall be
irrevocable unless otherwise determined by the Compensation Committee.
3. Insurability. Executives selected by the Compensation Committee are not automatically entitled to the benefits provided under this Plan.
Each Executive may be required to satisfy such requirements for insurability as the Company shall establish from time to time, if any, before
he is entitled to benefits under this Plan.
4. Addition and Removal of Participants. The Compensation Committee may, at its discretion and at any time, designate additional
Executives to participate in the Plan and remove Executives from participation in the Plan. When an Executive is removed from participation
in the Plan by the Compensation Committee, his or her benefits, if any, shall be determined under Section E.
5. Relation to Other Plans. If an Executive participates in this Plan, he or she shall
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