Exhibit 10.4
 
NEWLINK GENETICS CORPORATION 401(K) PLAN
 
SUMMARY PLAN DESCRIPTION
MATERIAL MODIFICATION
 
I
INTRODUCTION
 
 
NewLink Genetics Corporation has amended your Profit Sharing Plan effective as
of January 1, 2011. This is merely a summary of the most important changes to
the Plan. It is presented to you as an addition to the Summary Plan Description.
If you have any questions, contact the Administrator. A copy of the Plan is
available for your inspection. If there is any discrepancy between the terms of
the Plan or this summary of material modifications, the provisions of the Plan,
as amended, will control.
 
II
GENERAL INFORMATION ABOUT THE PLAN
 
 
There is certain general information which you may need to know about this
amendment to the Plan.   This Information has been summarized for you in this
Section.
 
1.         General Plan Information:
 
NewLink Genetics Corporation 401 (k) Plan is the name of the Plan. We have
assigned Plan Number 001 to this Plan.                            
                                             

 2.            Employer/Administrator Information:
NewLink Genetics Corporation
2503 South Loop Drive, Suite 5100
Ames, Iowa 50010
(515) 296-5555
42-1491350

                        
    The Administrator has the complete power, in its sole discretion to
determine all questions arising in connection with the administration,
interpretation, and application of the Plan (and any related documents and
underlying policies). Any such determination by the Administrator is conclusive
and binding upon all persons.
 
 
3.       Trustee information: All money that is contributed to the Plan is held
in a trust fund. The Trustee is responsible for the safekeeping of the trust
fund. The trust fund established by the Trustee will be the funding medium used
for the accumulation of assets from which benefits will be distributed.
 
III
SUMMARY OF CHANGES
 
Nonelective contribution. Each year, the Employer may make a discretionary
nonelective contribution to the Plan. Your share of any contribution is
determined below. The nonelective contribution will be "allocated" or divided
among participants eligible to share in the contribution for the Plan Year.
 
Your share of the nonelective contribution will depend on how much compensation
you received during the year as well as the group to which you are assigned (see
below). The Employer may contribute a different amount on behalf of each group.
The amount contributed on behalf of your group will be allocated to you
proportionately based on your compensation compared to the total compensation of
all participants in your group. You will be categorized into one of the
following groups:
 
 
• Groups will consist of: A: Chief Executive Officer; B: Chief Medical Officer;
C: Vice President Clinical & Regulatory Affairs; D: Quality Assurance Officer;
E: Senior Vice President of Business Development; F: Vice President of Drug
Development; G: CFO; H: VP, Finance; I: VP, Governmental Affairs; J: All other
Eligible Employees not listed in A-l
 
 
 

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Nonstandardized 401(k) Plan
EXECUTION PAGE
 
The Employer, by executing this Adoption Agreement, hereby agrees to the
provisions of this Plan and Trust.
 

 
 
Employer. NewLink Genetics
Corporation_____________________________________________________________
 
 
Date: __________________________________________________________________________________________
 
Signed: /s/ Gordon
Link____________________________________________________________________________
 
______________________________________________________________________________________________
 

[print name/title]
                                                                                                                                            
                                                                           
The Trustee (and Custodian, if applicable), by executing this Adoption
Agreement, hereby accepts its position and agrees to all of the obligations,
responsibilities and duties imposed upon the Trustee (or Custodian) under the
Prototype Plan and Trust. If the Employer under Election 5(c) will use a
separate Trust, the Trustee need not execute this Adoption Agreement.
 

 
 
Nondiscretionary Trustee(s): Dr. Nicholas
Vahanian________________________________________________
 
 
Date: ___10-14-11______________________________________________________________________________
 
Signed: /s/ Nicholas
Vahanian____________________________________________________________________
 
Nicholas
Vahanian-President______________________________________________________________________
 

[print name/title]
 

 
 
Nondiscretionary Trustee(s): Dr. Charles
Link_________________________________________________________
 
 
Date: ___10/13/11________________________________________________________________________________
 
Signed:  /s/ Charles Link
___________________________________________________________________________
 
Charles
Link-CEO_______________________________________________________________________________
 

[print name/title]
 

 
 
Custodian(s)
(Optional):__________________________________________________________________________
 
 
Date: __________________________________________________________________________________________
 
Signed:________________________________________________________________________________________
 
______________________________________________________________________________________________
 

[print name/title]
 
Use of Adoption Agreement. Failure to complete properly the elections in this
Adoption Agreement may result in disqualification of the Employer's Plan. The
Employer only may use this Adoption Agreement only in conjunction with the basic
plan document referenced by its document number on Adoption Agreement page one.
 
Execution for Page Substitution Amendment Only. If this paragraph is completed,
this Execution Page documents an amendment to Adoption Agreement Election(s)
28(d) effective January 1, 2011, by substitute Adoption Agreement page number(s)
14 . The Employer should retain all Adoption Agreement Execution Pages and
amended pages. [Note: The Effective Date may be retroactive or may be
prospective as permitted under Applicable Law.]
 
Prototype Plan Sponsor. The Prototype Plan Sponsor identified on the first page
of the basic plan document will notify all adopting Employers of any amendment
to this Prototype Plan or of any abandonment or discontinuance by the Prototype
Plan Sponsor of its maintenance of this Prototype Plan. For inquiries regarding
the adoption of the Prototype Plan, the Prototype Plan Sponsor's intended
meaning of any Plan provisions or the effect of the Opinion Letter issued to the
Prototype Plan Sponsor, please contact the Prototype Plan Sponsor at the
following address and telephone number: 201 East Clark Street, Albert Lea, MN
58007-1228. (507) 377-9344.
 
Reliance on Sponsor Opinion Letter. The Prototype Plan Sponsor has obtained from
the IRS an Opinion Letter specifying the form of this Adoption Agreement and the
basic plan document satisfy, as of the date of the Opinion Letter, Code §401. An
adopting Employer may rely on the Prototype Sponsor's IRS Opinion Letter only to
the extent provided in Rev. Proc. 2005-16. The Employer may not rely on the
Opinion Letter in certain other circumstances or with respect to certain
qualification requirements, which are specified in the Opinion Letter and in
Rev. Proc. 2005-16, Sections 19.02 and 19.03. In order to have reliance in such
circumstances or with respect to such qualification requirements, the Employer
must apply for a determination letter to Employee Plans Determinations of the
IRS.
 
32
 
 

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                                                                                       Nonstandardized
401 (k) Plan
Replacement Page Effective January 1, 2011
 
 
(c)     [  ]  Prevailing Wage Contribution. The Prevailing Wage Contribution
amount(s) specified for the Plan Year or other applicable period in the
Employer's Prevailing Wage Contract(s). The Employer will make a Prevailing Wage
Contribution only to Participants covered by the Contract and only as to
Compensation paid under the Contract, if the Participant accrues an allocation
of Employer Contributions (including forfeitures) under the Plan or any other
Employer plan In addition to the Prevailing Wage Contribution, the Plan
Administrator will (Choose one of (1) or (2)):
 
(1)     [  ]  No offset. Not reduce the Participant's Employer Contribution
allocation by the amount of the Prevailing Wage Contribution.
 
(2)     [  ]  Offset. Reduce the Participant's Employer Contribution allocation
by the amount of the Prevailing Wage Contribution.
 
(d)     [  ]  Related and Participating Employers. If any Related and
Participating Employers contribute Nonelective Contributions to the Plan, the
contribution formula(s) (Choose one of (1) or (2)):
 
    (1)  [  ]   All the same. Is (are) the same as for the Signatory Employer
under this Election 27.
 
    (2)  [  ]   At least one different. Is (are) as
follows: ___________________________________.                                                                                     
 
[Note: The Employer should not elect 27(d) unless there are Related Employers
which ere also Participating Employers. See Section 1.23(D). The Employer
electing 27(d) also must complete Election 28(g) as to the allocation methods
which apply to the Participating Employers.]
 
(e)      [  ]   Describe:____________________________________________________________________________________________________________________________                                                                                                                                 
 
[Note: Under Election 27(e). the Employer may describe the amount and type of
Nonelective Contributions from the elections available under Election 27 and/or
a combination thereof as to a Participant group (e.g.. A Discretionary
Nonelective Contribution applies to Division A Employees, A Fixed Nonelective
Contribution equal to 5% of Plan Year Compensation applies to Division B
Employees).]
 
28. NONELECTIVE CONTRIBUTION ALLOCATION (3.04(B)). The Plan Administrator,
subject to Section 3.08, will allocate to each Participant any Nonelective
Contribution (excluding QNECs) under the following contribution allocation
formula (Choose one or more of(a) through (h) as applicable):
 
(a) [  ]   Pro rata. As a uniform percentage of Participant Compensation.
 
(b) [  ]   Permitted disparity. In accordance with the permitted disparity
allocation provisions of Section 3.04(B)(2), under which the following permitted
disparity formula and definition of "Excess Compensation" apply (Complete (1)
and (2)):
 
    (1)      Formula (Choose one of a. or b.):
a.      [   ]   Two-tiered.
b.      [   ]   Four-tiered.
 
    (2)      Excess Compensation. For purposes of Section 3.04(B)(2), "Excess
Compensation" means Compensation in excess of  (Choose one of a. or b.):
 
a.      [  ]   Percentage amount. _________%  (not exceeding 100%) of the
taxable wage base In effect on the first day of the Plan Year, rounded to the
next highest $___ (not exceeding the taxable wage base).
b.      [  ]  Dollar amount. The following amount: $______(not exceeding the
taxable wage base In effect on the first day of the Plan Year).
 
(c)      [  ] Incorporation of contribution formula. The Plan Administrator will
allocate any Fixed Nonelective Contribution under Elections 27(b), 27(d), or
27(e), or any Prevailing Wage Contribution under Election 27(c), in accordance
with the contribution formula the Employer adopts under those Elections.
 
(d)      [X] Classifications of Participants. In accordance with the
classifications allocation provisions of Section 3.04(B)(3). The classifications
are (Choose one of (1), (2), or (3)):
 
[Note: Typically, the Employer would elect 28(d) where it intends to satisfy
nondiscrimination requirements using "cross-testing" under Treas. Reg.
§1.401(a)(4)-8. However, choosing this election does not necessarily require
application of cross-testing and the Plan may be able to satisfy
nondiscrimination as to its classification-based allocations by testing
allocation rates.]
 
(1) [   ]   Each In own classification. Each Participant constitutes a separate
classification.
 
(2) [   ]   NHCEs/HCEs. Nonhighly Compensated Employee/Participants and Highly
Compensated Employee/Participants.
 
(3) [X]   Describe the classifications: A: Chief Executive Officer; B: Chief
Medical Officer; C: Vice President Clinical & Regulatory Affairs; D: Quality
Assurance Officer; E: Senior Vice President of Business Development; F: Vice
President of Drug Development; G: CFO; H: VP. Finance; I: VP. Governmental
Affairs; J: All other Eligible Employees not listed in
A-1                                                                                                                    
 
©2008
 
 
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