8-KLeadership ChangesExhibits & Filings

EIDP, Inc. 8-K Report, Executive Changes (May 2, 2008)

Filed May 2, 2008For Securities:CTA-PBCTA-PA

Summary

E. I. du Pont de Nemours and Company (the "Company") announced the adoption of the E. I. du Pont de Nemours Management Deferred Compensation Plan (the "Plan") on April 30, 2008, approved by its Board of Directors. This plan allows a select group of management and highly compensated employees to defer a portion of their compensation, including base salary (up to 60%), short-term incentive (STIP) awards (up to 60%), and long-term incentive (LTI) awards (up to 100%). The deferral provisions for base salary and LTI awards are effective January 1, 2009, while STIP award deferrals apply to awards earned in 2008 and paid in 2009. The Plan offers participants flexibility in managing their deferred compensation. They can allocate deferrals into up to five "Directed Investment Subaccounts" for salary and STIP awards, with options for investment elections and distribution methods. For LTI awards, participants can allocate deferrals into up to five "Stock Unit Subaccounts," which will consist of the Company's common stock units, with no separate investment elections allowed for these. The Plan is unfunded, meaning participants have the status of unsecured creditors.

Key Highlights

  • 1E. I. du Pont de Nemours and Company has adopted a new Management Deferred Compensation Plan.
  • 2The plan allows select management and highly compensated employees to defer compensation.
  • 3Deferral limits include up to 60% of base salary, up to 60% of STIP awards, and up to 100% of LTI awards.
  • 4Effective dates vary: January 1, 2009 for base salary and LTI, and for 2008 STIP awards payable in 2009.
  • 5Participants can direct investments for deferred salary and STIP awards into subaccounts.
  • 6Deferred LTI awards will be held as Company common stock units, with no investment elections for these.
  • 7The plan is unfunded, and participants are unsecured creditors of the company.

Frequently Asked Questions

The primary purpose of the plan is to allow a select group of management and highly compensated employees to defer the receipt of a portion of their compensation, including salary, short-term incentive (STIP) awards, and long-term incentive (LTI) awards, for tax and financial planning purposes.

Eligibility is limited to a 'select group of management or highly compensated employees' of E. I. du Pont de Nemours and Company.

For deferred base salary and STIP awards, participants can choose investment subaccounts and distribution methods. For deferred LTI awards, these will be held as Company common stock units in subaccounts. Distributions can be elected upon separation from service, a specified date, or a change of control, with options for lump sum or installment payments over up to 15 years. Participants can also request distributions for unforeseeable emergencies.

As an unfunded plan, E. I. du Pont de Nemours does not set aside specific assets to cover its obligations under the plan. This means that participants' rights to their deferred compensation are those of unsecured creditors of the Company. In the event of the Company's insolvency, participants would be subject to the claims of other creditors.