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Exhibit 10.2
AMENDMENT NO. 3 TO THE
ENSCO
SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN
(As Amended and Restated Effective January 1, 2004)
THIS AMENDMENT No. 3,
executed this 4th day of August, 2009, and effective the first day
of October, 2009, by Ensco International Incorporated, having its
principal office in Dallas, Texas (hereinafter referred to as the
"Company").
WITNESSETH:
WHEREAS,
effective April 1, 1995, Energy Service Company, Inc. adopted the
Energy Service Company, Inc. Select Executive Retirement Plan (the
"Original SERP");
WHEREAS,
the name of the Company was changed to ENSCO International
Incorporated;
WHEREAS,
the Company amended and restated the Original SERP, effective
January 1, 1997, to (i) provide a discretionary profit sharing
contribution, (ii) rename the Original SERP the "ENSCO Supplemental
Executive Retirement Plan," and (iii) coordinate the operation of
the Original SERP with the ENSCO Savings Plan;
WHEREAS,
the Pension and Welfare Benefits Administration of the Department
of Labor issued final regulations establishing new standards for
processing benefit claims of participants and beneficiaries under
Section 8.2 of the Original SERP which were subsequently clarified
by further guidance from the Pension and Welfare Benefits
Administration (collectively the "Final Claims Procedure
Regulations");
WHEREAS,
the Company adopted Amendment No. 1 to the amended and restated
Original SERP, effective as of January 1, 2002, to revise Section
8.2 of the Original SERP to provide that the administrator of the
Original SERP shall process benefit claims of participants and
beneficiaries pursuant to the claims procedure specified in the
summary plan description for the Original SERP which shall comply
with the Final Claims Procedure Regulations, as may be amended from
time to time;
WHEREAS,
the Company amended and restated the Original SERP, effective as of
January 1, 2004;
WHEREAS,
the American Jobs Creation Act of 2004 (the "AJCA") enacted new
section 409A of the Internal Revenue Code of 1986, as amended (the
"Code"), which imposes new rules regarding the timing of elections
and distributions under n
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