Exhibit 10.30


 


TWELFTH AMENDMENT


TO THE FIRST RESTATEMENT OF THE


MERIT MEDICAL SYSTEMS, INC. 401(k) PROFIT SHARING
PLAN


 


This
Twelfth Amendment to the First Restatement of the Medical Systems, Inc.
401(k) Profit Sharing Plan (the “Plan”) is adopted effective as of January 1,
2008 by Merit Medical Systems, Inc. (the “Employer”) as principal sponsor
of the Plan.


 


WHEREAS,
the Employer maintains the Plan for the benefit of its employees and the
employees of its participating subsidiaries; and


 


WHEREAS,
it is necessary and desirable to amend the Plan’s definition of “Section 415
Total Earnings” to include distributions from unfunded non-qualified deferred
compensation plans in the year distributed: and


 


WHEREAS,
it is necessary and desirable to expand the ability of participants to obtain
in-service distributions at or after attaining age 591⁄2; and


 


WHEREAS,
the Employer has reserved the right to amend the Plan.


 


NOW,
THEREFORE, the Plan is hereby amended as follows:


 


1.                                       Paragraph A of Article I Section 46
of the Plan document, relating to items excluded from the definition of “Section 415
Total Earnings,” is amended to read as follows:


 


“A.          Employer contributions to a plan of
deferred compensation to the extent contributions are not included in gross
income of the Employee for the taxable year in which contributed, or on behalf
of an Employee to a simplified employee pension plan to the extent the
contributions are deductible under Section 219(b)(7) of the Code, and
any distributions from a plan of deferred compensation whether or not
includable in the gross income of the Employee when distributed; provided,
however, that distributions received by an Employee from an unfunded
non-qualified plan are considered Section 415 Total Earnings in the year
the amounts so received are included in the gross income of the Employee;”


 


2.                                       Article VI H of the Plan document,
dealing with in-service distributions after age 59-1/2, is amended to read as
follows:


 


“H.          In-Service Distributions After Age 59-1/2.  Any
Participant who has attained age 59-1/2 and is still employed by an Employer
may elect to receive one or more in-service distributions of a designated
portion of his Vested Benefit prior to his Separation from Service (an “In-Service
Distribution”).   All In-Service
Distributions after attaining age 59-1/2 shall be paid in a lump sum for that
period of distribution.  A Participant
who has attained age 59-1/2 may only receive one In-Service Distribution per
Plan Year after attaining that age and prior to his or her Separation from
Service.  No such In-Service Distribution
shall exceed fifty percent of the Participant’s Vested Benefit as of the
Valuation Date immediately preceding the date of the distribution.  A Participant who elects to receive an
In-Service Distribution shall provide notice requesting the distribution to the
Plan on such forms as the Plan Administrator requires.  Distribution shall be made as soon as
practicable after receipt of the distribution request.”


 

















 


3.                                       Except as provided above, the Plan is hereby
ratified and confirmed in all respects.


 


IN WITNESS WHEREOF, the Employer has caused this Twelfth Amendment to
be executed this 12th day of December, 2008.


 


	
   

  	
  MERIT MEDICAL SYSTEMS, INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Rashelle Perry

  
	
   

  	
  Name:

  	
  Rashelle Perry

  
	
   

  	
  Its:

  	
  Chief Legal Officer

  
					



 


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