Summary Plan Description for: The Dow Chemical Company ...

Summary Plan Description for: The Dow Chemical Company

Employees' Savings Plan

(As Amended and Restated January 1, 2014 and amended thereafter through January 1, 2018)

This document constitutes part of a prospectus covering securities with respect to shares of DowDuPont Inc. Common Stock that have been registered under the Securities Act of 1933.

The date of this document is January 1, 2018. Neither the Securities and Exchange Commission nor any state securities commission has approved or

disapproved of the securities referred to herein or passed upon the accuracy or adequacy of this document. Any representation to the contrary is a criminal offense.

729759001.6

SPD Prepared as of January 1, 2018

Copies of the Summary Plan Description ("SPD") can be found on the Fidelity NetBenefits at dow or by requesting a copy from the Dow Service Center at Fidelity, Fidelity Investments, P.O. Box 770003, Cincinnati, OH 45277-0065, telephone 1-877-440-4015.

2

729759001.6

TABLE OF CONTENTS

1. Introduction ............................................................................................................ 7

2. The Dow Service Center at Fidelity ......................................................................... 7 Dow Service Center at Fidelity and NetBenefits Website .......................... 8 Notification of Address ............................................................................... 8

3. Eligibility .................................................................................................................. 8

4. Special Provisions for Employees in Puerto Rico .................................................... 9

5. Enrollment .............................................................................................................. 9 Automatic Enrollment................................................................................. 9 Investment of Automatic Enrollment Contributions ................................ 10 Annual Increase Program ("AIP").............................................................. 10 Investment of AIP Contributions .............................................................. 10

6. Renewing Participation ......................................................................................... 10 Unpaid Leave of Absence.......................................................................... 10 Hardship Withdrawals .............................................................................. 10

7. Your Employee Contributions to the Plan ............................................................ 11 Catch-up Contributions............................................................................. 11 Effect of Employee Contributions on Your Taxes ..................................... 11 Taxability of Earnings ................................................................................ 12 Government Limitations on Contributions ............................................... 12 The Annual Addition Limit:............................................................ 12 The Deferral Dollar Limit:.............................................................. 12 The IRS Recognizable Income Limit:.............................................. 12 The Nondiscrimination Testing Limit: ........................................... 12

8. Dow's Regular Company Matching Contributions to the Plan ............................. 13 Company Matching Contributions............................................................ 13 Exceptions: .................................................................................... 13 True-up Contributions............................................................................... 13

9. LESOP Contingent Company Matching Contributions and Windfall Allocation ... 13

10. Company Discretionary Contributions ................................................................. 15

11. Rollover Contributions to the Plan ....................................................................... 15

12. Vesting .................................................................................................................. 15

13. Investment of Your Plan Assets ............................................................................ 15

14. Investment Funds Under the Plan ........................................................................ 16

15. Materials on Investment Funds, Fund Expenses, Redemption Fees .................... 16

16. Default (QDIA) Investment ................................................................................... 16

17. The DowDuPont Stock Fund ................................................................................. 17

3

729759001.6

18. The DowDuPont LESOP Stock Fund ...................................................................... 17

19. Divesting DowDuPont Stock ................................................................................. 17

20. Praxair Stock Fund and Eli Lilly Stock Fund ........................................................... 17 Praxair Stock Fund .................................................................................... 17 Eli Lilly Stock Fund ..................................................................................... 18 Praxair and Eli Lilly Stock Dividends.......................................................... 18

21. Owner of Record Date .......................................................................................... 18

22. Changing Investment Direction and Transferring Funds ...................................... 18 New Contributions .................................................................................... 18 Investment Fund Transfers ....................................................................... 18 Trading Restrictions .................................................................................. 19 Trading Impact .......................................................................................... 19

23. Daily Valuations .................................................................................................... 20

24. Confirmation of Elections ..................................................................................... 20

25. Account Statements.............................................................................................. 20

26. Loans ..................................................................................................................... 20

27. Withdrawals ? General Information ..................................................................... 20

28. In-service Withdrawals On or After Age 59? ....................................................... 21

29. In-service Withdrawals of After-tax Amounts ...................................................... 21

30. In-service Withdrawals from Accounts Maintained Under Certain Plans Merged into the Dow Employees' Savings Plan ................................................... 21

31. In-service Hardship Withdrawals .......................................................................... 21

32. Distributions Due to Separation from Employment, Including Retirement ......... 22

33. Mandatory Distributions At and After Age 70? ................................................... 22

34. Distribution Options.............................................................................................. 23 Lump Sum/Systematic/Partial .................................................................. 23 Retirees and Terminated Employees: ........................................... 23 In-service Distributions to Employees Over Age 59?:................... 23 Stock Distribution...................................................................................... 23 Rollover to Dow Employees' Pension Plan/Union Carbide Employees' Pension Plan .............................................................. 23

35. Withdrawals Due to Death ................................................................................... 24

36. Tax Considerations................................................................................................ 24 In General.................................................................................................. 24 Federal Income Tax Withholding Requirements ...................................... 25 Employer Securities: Net Unrealized Appreciation ("NUA") .................... 25

4

729759001.6

37. Rollovers................................................................................................................ 26 38. Stockholder Rights ................................................................................................ 26 39. Savings Plan Fees .................................................................................................. 27

Fees Imposed by the Funds ...................................................................... 27 Fees Imposed by Fidelity Directly on Members for

Recordkeeping Services ................................................................ 27 Service-based Fees.................................................................................... 27 40. Beneficiary Designations....................................................................................... 28 41. Qualified Domestic Relations Orders ("QDROs") ................................................. 28 42. Military Leave........................................................................................................ 29 43. Plan's Named Fiduciaries ...................................................................................... 29 44. Decisions of Named Fiduciaries ............................................................................ 29 45. Claims Review Process .......................................................................................... 30 Initial Determination................................................................................. 30 Appealing the Initial Determination ......................................................... 30 46. Your Legal Rights ? ERISA Enforcement................................................................ 31 Receive Information About Your Plan and Benefits ................................. 31 Prudent Actions by Plan Fiduciaries and No Discrimination for

Exercise of ERISA Rights ................................................................ 31 Enforce Your Rights................................................................................... 31 Assistance with Your Questions................................................................ 32 47. Class Action Lawsuits ............................................................................................ 32 48. Dow's Right to Amend, Modify or Terminate the Plan ........................................ 32 49. Disposition of Plan Assets if Plan is Terminated ................................................... 32 50. Assignment of Benefits ......................................................................................... 32 51. Funding ................................................................................................................. 32 52. A Final Note........................................................................................................... 33 53. For More Information ........................................................................................... 33 54. SEC Prospectus...................................................................................................... 33 55. Definitions ............................................................................................................. 35 56. ERISA Information ................................................................................................. 39

5

729759001.6

 ................
................

In order to avoid copyright disputes, this page is only a partial summary.

Google Online Preview   Download