Exhibit 10(c)(10)


 


TENTH
AMENDMENT


TO THE


ICF KAISER
INTERNATIONAL, INC.


RETIREMENT
PLAN


 


WHEREAS, the ICF
Kaiser International, Inc. Retirement Plan (hereinafter referred to as the
“Plan”) was established effective August 1, 1971;


 


WHEREAS,
the Plan was most recently restated effective January 1, 1996, by ICF Kaiser
International, Inc. (currently known as Kaiser Group International, Inc. and
hereinafter referred to as the “Company”);


 


WHEREAS,
the restated Plan was amended subsequently on nine occasions;


 


WHEREAS,
the Plan was again restated effective January 1, 1996, to incorporate
amendments numbered one through nine, as required by the Internal Revenue
Service (“IRS”) in order to be considered for a favorable determination letter;
and


 


WHEREAS,
the IRS has  requested certain other amendments to the
Plan as a condition to its favorable determination letter dated December 19,
2003, such amendments having been proposed to the IRS on October 1, 2003, and
December 9, 2003;


 


NOW,
THEREFORE, effective as of the dates stated below, the
Plan is hereby amended in the manner hereinafter set forth:


 


1.             The
fourth sentence of Section 1.10 of the Plan is hereby amended, effective as of
January 1, 1998, to provide as follows:


 


“Effective January 1, 1998, notwithstanding
the above, for purposes of Section 4.1 of the Plan, salary reduction amounts
contributed to the Company’s Dependent Care Assistance plan, the Health
Flexible Spending Account Plan, Pre-tax Contribution Plan, and ICF Kaiser
International, Inc. Section 401(k) Plan shall be considered Compensation; and provided
moreover that, effective for Plan Years beginning on and after January 1,
2001, notwithstanding the above,
for purposes of Section 4.1 of the Plan, qualified transportation fringe
benefits excluded from gross income by reason of Section 132(f)(4) of the Code
shall be considered Compensation.”


 


2.             Section
1.19 of the Plan is hereby amended, effective as of January 1, 1997, to provide
as follows:


 


“1.19       The term “Highly
Compensated Participant” shall mean any Participant who is an Employee
of the Company or a Member of the Controlled Group for a Plan Year who:


 


(a)           during the immediately preceding Plan Year,
received Compensation (as defined in Section 4.4(b)(iii) of the Plan without
regard to Sections 125, 132(f) (on and after January 1, 1997),


 

















 


403(e)(3) and 402(h)(1)(B)) of the Code, in excess of $80,000 (such
dollar limitation shall be adjusted automatically in accordance with the
maximum amount permitted under Section 414(q) of the Code) and was a member of
the group of Employees consisting of the top 20 percent of all Employees when
ranked by Compensation paid during such Plan Year; or


 


(b)   during such Plan Year or during the immediately
preceding Plan Year, owned directly or indirectly 5% or more of the Company or
a Member of the Controlled Group (so that he is a “5% owner” as defined in
Section 416(I)(1) of the Code).  A
former Employee shall be treated as a Highly Compensated Participant, if such
Employee was a Highly Compensated Participant when such Employee separated from
service or such Employee was a Highly Compensated Participant at any time after
attaining age 55.  Notwithstanding the
foregoing provisions of this paragraph, the sole purpose of this Section 1.19
is to define and apply the term Highly Compensated Participant strictly (and
only) to the extent necessary to satisfy the minimum requirements of Section
414(q) of the Code relating to “highly compensated employees.”  This Section 1.19 shall be interpreted,
applied and, if and to the extent necessary, deemed modified without formal
amendment of language, so as to satisfy solely the minimum requirements of
Section 414(q) of the Code.”


 


3.             Section 4.4(b)(iii)
of the Plan is hereby amended, effective as of January 1, 1998, to provide as
follows:


 


“(iii)     The
term “Compensation”
shall mean compensation as defined in Section 415(c)(3) of the Code, including
the items specified in Treasury Regulation Section 1.415-2(d)(2)(i) and
excluding the items specified in Treasury Regulation Section 1.415-2(d)(3).  For Limitation Years beginning after
December 31, 1997, for purposes of applying the limitations under Section 4.4,
Compensation paid or made available during such Limitation Year shall include
any elective deferral (as defined in Section 402(g)(3) of the Code) and any
amount that is contributed or deferred by the Employer at the election of an
Employee and that is not includible in gross income of the Employee by reason
of Section 125 or 457 of the Code.  For
Plan and Limitation Years beginning on and after January 1, 2001, for purposes
of applying the limitations under Section 4.4, Compensation paid or made
available during such Plan and Limitation Years shall include elective amounts
that are not includible in gross income of an Employee by reason of  Section 132(f)(4) of the Code.”


 


4.             The second sentence
of Section 4.4(c) of the Plan is hereby amended to provide as follows:


 


“If, as a result of the allocation of forfeitures or any other
circumstance permitted under rules promulgated by the Internal Revenue Service,
the Annual Additions to the Account of a Participant in any Limitation Year
would otherwise exceed such amount, the Excess Amount shall be disposed of by
reducing the Employer


 

















 


contributions and forfeitures, if any, otherwise allocable to the
Participant’s Account for the Limitation Year.”


 


5.             Section 8.4(b)(iii)
of the Plan is hereby amended, effective January 1, 1999,  to provide as follows:


 


“(iii)     “Eligible
rollover distribution” means  all or any
portion of a Plan distribution to a Participant, a beneficiary who is a
deceased Participant’s surviving spouse, or an alternate payee under a
qualified domestic relations order who is a Participant’s spouse or former
spouse; provided, however, that such distribution is not (i) one of a
series of substantially equal periodic payments made at least annually for over
a specified period of ten or more years or the life of the Participant or
beneficiary or the joint lives of the Participant and the beneficiary; (ii) a
distribution to the extent such distribution is required under Section
401(a)(9) of the Code;  (iii) the
portion of any distribution which is not includable in gross income (determined
without regard to any exclusion of net unrealized appreciation with respect to
employer securities); (iv) a distribution from elective deferral contributions
of a Participant made on or after January 1, 1999, on account of hardship or
(v) any distribution that is made on or after January 1, 2002 on account of
hardship.  A portion of a distribution
that is received on or after January 1, 2002, shall not fail to be an eligible
rollover distribution merely because such portion consists of voluntary
after-tax contributions that are not includible in gross income; provided,
however, that such portion may be transferred only to an individual retirement
account or annuity described in Section 408(a) or (b) of the Code or to a
qualified defined contribution plan described in Section 401(a) or 403(a) of
the Code that agrees to account separately for amounts so transferred,
including separately accounting for the portion of such distribution that is
includible in gross income and the portion of such distribution that is not so
includible.”


 


Executed this 17th
day of March, 2004.


 


 


	
   

  	
  KAISER GROUP INTERNATIONAL, INC.

  
	
   

  	
  (formerly known as ICF Kaiser International,

  Inc.)

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ John T. Grigsby, Jr.

  	
   

  
	
   

  	
   

  	
  Title: 
  President