EXHIBIT 10.21


 


NINTH AMENDMENT


TO THE FIRST RESTATEMENT OF THE


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


 


                                                This Ninth
Amendment to the First Restatement of the Medical Systems, Inc. 401(k) Profit
Sharing Plan (the “Plan”) is adopted effective as of April 1, 2007 by
Merit Medical Systems, Inc. (the “Employer”) as principal sponsor of the
Plan.


 


                                                WHEREAS, it is
necessary and desirable to amend the Plan to provide that employees commencing
employment with the Employer on or after April 1, 2007 must first complete
90 days of continuous eligible employment to participate in the Plan and that
temporary employees hired on or after April 1, 2007 are eligible for
participation only if they complete at least 1,000 hours of service in a year.


 


                NOW, THEREFORE, the Employer
hereby amends the Plan as follows:


 


1.             Article I of the Plan is
hereby amended to add a new definition, “Temporary Employee,” as Section 50A
to read as follows:


 


“50.A      Temporary Employee.  An Employee who the Employer classifies as a “temporary
employee” under the Employer’s system of personnel classification.”


 


2.             Article I, Section 60, of
the Plan, the definition of “Year of Service,” is hereby amended to add the
following paragraph at the end thereof:


 


“D.          In the case of a Temporary Employee
first commencing employment with an Employer on or after April 1, 2007,
for participation purposes, a Year of Service means: (i) the period
consisting of the first consecutive twelve months of the Temporary Employee’s
employment with the Employer if the Temporary Employee completes at least 1,000
Hours of Service during that twelve-month period; or (ii) any Plan Year
ending after the Temporary Employee’s first twelve months of employment during
which the Temporary Employee completes at least 1,000 Hours of Service (or in
the case of a Plan Year consisting of less than twelve months, at least that
number of Hours of Service equal to 1,000 multiplied by a fraction the
numerator of which is the number of months in the partial Plan Year and the
denominator of which is twelve).”


 


3.             Article II B of the Plan,
dealing with participation, is amended to read as follows:


 


“B.          Participation
Requirements and Commencement.


 


(1)           Any Employee who
first commences employment with the Employer prior to April 1, 2007 shall
become a Participant on the Entry Date he or she first renders one Hour of
Service for the Employer as an Employee within the eligible class.


 


(2)           Any Employee who
first commences employment with the Employer on or after April 1, 2007
shall become a Participant on the Entry Date on which he or she completes
ninety (90) days of continuous employment within the eligible class for the
Employer; provided, however, that a Temporary Employee who first commences
employment for the Employer on or after April 1, 2007 shall be eligible to
participate 


 


 

















 


only
upon the earlier of (i) the Entry Date on which he or she completes one
Year of Service, or (ii) the date he or she transfers from Temporary
Employee status to another status within the eligible class of Employees and
completes at least ninety (90) days of continuous service.  No Employee who first commences employment
with the Employer on or after April 1, 2007 shall be eligible to
participate in the Plan unless and until he or she first meets the ninety (90)
days of continuous service requirement or Year of Service requirement, as
applicable, set forth in the immediately preceding sentence.


 


(3)           For purposes of this
Article II B, the “Entry Dates” are
each day of the Plan Year.”


 


IN
WITNESS WHEREOF, the Employer has caused this Ninth Amendment to be executed
this 31 day of March, 2007.


 


	
   

  	
   

  	
   

  	
  MERIT
  MEDICAL SYSTEMS, INC.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:
  

  	
  /s/
  Fred P. Lampropoulos

  
	
   

  	
   

  	
   

  	
  Name:

  	
  Fred
  P. Lampropoulos

  
	
   

  	
   

  	
   

  	
  Its:

  	
  President
  and CEO

  
								



 


 


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