EXHIBIT 10(e)
SUPPLEMENT
TO THE
FPL GROUP, INC.
SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN
AS IT APPLIES TO
THOMAS F. PLUNKETT
1. Introduction. Section 5.03 of the FPL Group, Inc.
Supplemental Executive Retirement Plan as amended and
restated effective April 1, 1997 (the "Plan") authorizes the
Committee and the Employer to adopt supplements that modify
or add to the terms of the Plan. Pursuant to this authority
the Committee adopts this supplement (the "Supplement"),
which is incorporated by this reference and forms a part of
the Plan.
2. Applicability of This Supplement. The provisions of this
Supplement shall only apply to Thomas F. Plunkett (the
"Participant").
3. Definitions. All of the capitalized terms used in this
Supplement shall have the meanings assigned to them in the
Plan, unless explicitly defined in this Supplement. The
following words, when used in the Supplement, shall have the
following meanings:
(a) "Adjusted Years of Service" shall mean the sum of:
(i) Years of Service completed as of August 26,
2004, multiplied by two (2), and
(ii) Years of Service, if any, credited after
such date.
(b) "Participant" shall mean Thomas F. Plunkett.
(c) "Supplemental SERP Benefit" shall mean the benefit
described in Section 4 hereof.
(d) "Supplement" shall mean the supplement as set forth
in this document as it may be amended from time to
time.
4. Benefits. To the extent vested (as described in Section 5
hereof), the benefits to be provided under this Supplement
to which the Participant shall be entitled shall be the
Supplemental SERP Benefit. The "Supplemental SERP Benefit"
shall be the difference, if any, between (a) and (b), where:
(a) is the benefit to which the Participant would be
entitled under the Pension Plan, expressed in the
normal form of benefit, if such benefit was computed
(i) as if benefits under such plan were based upon
the Participant's Base Compensation and Adjusted
Years of Service, (ii) without the annual
compensation limitation imposed by Section 401
(a)(17) of the Code, and (iii) without the
restrictions or the limitations imposed by Sections
415(b) or 415(e) of the Code; and
(b) is the sum of the benefits payable to the
Participant under the Pension Plan and the Plan,
both expressed in the normal form of benefit.
As between the Plan and this Supplement, there shall be no
duplication of benefits.
5. Vesting of Benefits. The benefits to be provided under
this Supplement shall vest upon the Participant s attainment
of age 62 (11/23/01).
6. Right to Amend or Terminate this Supplement. The powers
reserved to the Committee with respect to amendment and
termination of the Plan (i.e., Article V of the Plan) shall
apply with equal force to this Supplement.
7. Effective Date. This Supplement shall be adopted effective
as of December 15, 1997.
IN WITNESS WHEREOF, the Committee has caused this instrument
to be executed this 15 day of December, 1997 by their duly authorized
officers, effective as of date and year described above.
FPL GROUP, INC.
By: LAWRENCE J. KELLEHER
Lawrence J. Kelleher
Vice President, Human Resources
SUPPLEMENT
TO THE
FPL GROUP, INC.
SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN
AS IT APPLIES TO
THOMAS F. PLUNKETT
1. Introduction. Section 5.03 of the FPL Group, Inc.
Supplemental Executive Retirement Plan as amended and
restated effective April 1, 1997 (the "Plan") authorizes the
Committee and the Employer to adopt supplements that modify
or add to the terms of the Plan. Pursuant to this authority
the Committee adopts this supplement (the "Supplement"),
which is incorporated by this reference and forms a part of
the Plan.
2. Applicability of This Supplement. The provisions of this
Supplement shall only apply to Thomas F. Plunkett (the
"Participant").
3. Definitions. All of the capitalized terms used in this
Supplement shall have the meanings assigned to them in the
Plan, unless explicitly defined in this Supplement. The
following words, when used in the Supplement, shall have the
following meanings:
(a) "Adjusted Years of Service" shall mean the sum of:
(i) Years of Service completed as of August 26,
2004, multiplied by two (2), and
(ii) Years of Service, if any, credited after
such date.
(b) "Participant" shall mean Thomas F. Plunkett.
(c) "Supplemental SERP Benefit" shall mean the benefit
described in Section 4 hereof.
(d) "Supplement" shall mean the supplement as set forth
in this document as it may be amended from time to
time.
4. Benefits. To the extent vested (as described in Section 5
hereof), the benefits to be provided under this Supplement
to which the Participant shall be entitled shall be the
Supplemental SERP Benefit. The "Supplemental SERP Benefit"
shall be the difference, if any, between (a) and (b), where:
(a) is the benefit to which the Participant would be
entitled under the Pension Plan, expressed in the
normal form of benefit, if such benefit was computed
(i) as if benefits under such plan were based upon
the Participant's Base Compensation and Adjusted
Years of Service, (ii) without the annual
compensation limitation imposed by Section 401
(a)(17) of the Code, and (iii) without the
restrictions or the limitations imposed by Sections
415(b) or 415(e) of the Code; and
(b) is the sum of the benefits payable to the
Participant under the Pension Plan and the Plan,
both expressed in the normal form of benefit.
As between the Plan and this Supplement, there shall be no
duplication of benefits.
5. Vesting of Benefits. The benefits to be provided under
this Supplement shall vest upon the Participant s attainment
of age 62 (11/23/01).
6. Right to Amend or Terminate this Supplement. The powers
reserved to the Committee with respect to amendment and
termination of the Plan (i.e., Article V of the Plan) shall
apply with equal force to this Supplement.
7. Effective Date. This Supplement shall be adopted effective
as of December 15, 1997.
IN WITNESS WHEREOF, the Committee has caused this instrument
to be executed this 15 day of December, 1997 by their duly authorized
officers, effective as of date and year described above.
FPL GROUP, INC.
By: LAWRENCE J. KELLEHER
Lawrence J. Kelleher
Vice President, Human Resources