Document:

Exhibit 10.fff

 

Adopted pursuant to resolutions of the
Cinergy Corp.

Benefits Committee on December 17, 2004

 

AMENDMENT TO THE

CINERGY CORP. NON-UNION EMPLOYEES’ 401(K)
PLAN

 

The Cinergy Corp. Non-Union Employees’ 401(k)
Plan, as amended and restated effective January 1, 2003, is hereby amended,
effective as of January 1, 2005 or such other date specified below.

 

Explanation of Amendment

 

The amendment (i) clarifies
that nonresident aliens with no United States source income are not eligible to
participate in the Plan, (ii) provides that individuals who were terminated in
connection with the transition of certain information
technology-related responsibilities from the Company will be entitled
to receive a profit-sharing contribution for 2004 even if they are not employed
by the Company and its affiliates on December 31, 2004, (iii) clarifies the
Plan’s disability provisions, (iv) reduces the amount to which an involuntary
cash-out applies from $5,000 to $1,000 and provides that such determination
shall be made after taking into account rollover contributions and (v)
clarifies the Plan’s ERISA Section 404(c) provisions.

 

Amendment

 

(a)            Section
2.1(o) of the Plan is hereby amended and restated in its entirety to provide as
follows:

 

“Eligible Employee”
means an Employee on the payroll of an Employer who has attained age 18, provided,
however, that an “Eligible
Employee” shall not include (1) an Employee whose terms and conditions
of employment are governed by a collective bargaining agreement unless the
collective bargaining agreement provides for such participation, (2) a “leased
employee” (as defined in Section 3.3), (3) an individual who is classified
by the Employer as a summer laborer or a summer employee and (4) an individual
who is a nonresident alien and who receives no earned income (within the
meaning of Section 911(d)(2) of the Code) from an Employer which constitutes
income from sources within the United States (within the meaning of Section
861(a)(3) of the Code).”

 

(b)            Effective
as of January 1, 2004, Section 4.10(a) of the Plan is hereby amended and
restated in its entirety to provide as follows:

 

“Balanced
Profit Sharing Contributions. 
Each Employer may, in its discretion, make a Balanced Profit Sharing
Contribution to the Plan for a Plan Year in an amount determined by the
Company.  Any Balanced Profit Sharing
Contribution made by an Employer for a Plan Year shall be allocated among
Balanced Program Employees (as defined in Subsection 4.10(c) below) who are employed
with the Employer as Balanced

 

1

 

Program Employees on the last day of the Plan
Year, provided, however, that any Balanced Profit Sharing
Contribution made by an Employer for the Plan Year ending on December 31, 2004
shall be allocated among (i) Balanced Program Employees (as defined in
Subsection 4.10(c) below) who are employed with the Employer as Balanced
Program Employees on the last day of the Plan Year and (ii) any individual who
was a Balanced Program Employee during at least one day of the Plan Year and who
voluntarily terminated employment with the Company and its Affiliates,
between August 7, 2004 and October 31, 2004, and commenced employment with
Computer Sciences Corporation, International Business Machines Corporation or
dbaDirect Inc., or one of their affiliates, in connection with
the transition of certain information
technology-related responsibilities from the Company.  The allocable share of each such Balanced Program Employee
described in the preceding sentence shall be in the ratio which his Profit
Sharing Earnings (as defined in Subsection 4.10(c) below) bears to the
aggregate of such Profit Sharing Earnings for all such Balanced Program
Employees.”

 

(c)            Effective
as of January 1, 2004, Section 4.10(b) of the Plan is hereby amended and
restated in its entirety to provide as follows:

 

“Investor
Profit Sharing Contributions. 
Each Employer may, in its discretion, make an Investor Profit Sharing
Contribution to the Plan for a Plan Year in an amount determined by the
Company.  Any Investor Profit Sharing
Contribution made by an Employer for a Plan Year shall be allocated among
Investor Program Employees (as defined in Subsection 4.10(c) below) who are
employed with the Employer as Investor Program Employees on the last day of the
Plan Year, provided, however, that any  Investor Profit Sharing Contribution made by
an Employer for the Plan Year ending on December 31, 2004 shall be allocated
among (i) Investor Program Employees (as defined in Subsection 4.10(c) below)
who are employed with the Employer as Investor Program Employees on the last
day of the Plan Year and (ii) any individual who was an Investor Program
Employee during at least one day of the Plan Year and who voluntarily
terminated employment with the Company and its Affiliates, between August
7, 2004 and October 31, 2004, and commenced employment with Computer
Sciences Corporation, International Business Machines Corporation or dbaDirect
Inc., or one of their affiliates, in connection with the transition of
certain information technology-related responsibilities from the
Company.  The allocable share of each such Investor Program Employee
described in the preceding sentence shall be in the ratio which his Profit
Sharing Earnings (as defined in Subsection 4.10(c) below) bears to the
aggregate of such Profit Sharing Earnings for all such Investor Program
Employees.”

 

(d)            The
first sentence of Section 5.3 of the Plan is hereby amended and restated in its
entirety to provide as follows:

 

“Upon a Member’s termination of employment for any reason, including
retirement or death, or upon a Member’s Disability, the Member’s Profit Sharing
Account shall be distributable as provided in Article 6.”

 

(e)            The
first sentence of Section 6.1 of the Plan is hereby amended and restated in its
entirety to provide as follows:

 

2

 

“Upon a Member’s termination of employment for any reason, including
retirement or death, or upon a Member’s Disability, the vested amount of the
Member’s Account will be distributable to the Member, or to the Member’s
Beneficiary in case of the Member’s death.”

 

(f)             Effective
with respect to distributions on or after March 28, 2005, Section 6.2(b) of the
Plan is hereby amended and restated in its entirety to provide as follows:

 

“If the vested portion of the Member’s
Account to be distributed pursuant to Section 6.1 does not exceed $1,000,
then the distribution will be made as soon as practicable following termination
of employment.  If the value of the
vested portion of the Member’s Account exceeds $1,000, then the distribution
will be made as of any Valuation Date elected by the Member, subject to (a)
through (g).”

 

(g)            Effective
with respect to distributions on or after March 28, 2005, the first sentence of
the second paragraph of Section 6.3(c) of the Plan is hereby amended and
restated in its entirety to provide as follows:

 

“If a Member dies prior to commencement of
distribution of his Account, and the value of the vested portion of his Account
balance exceeds $1,000, the Member’s Beneficiary may elect to receive
distribution of the vested portion of the Member’s Account in a lump sum or in
annual installments over a period not exceeding the greater of ten years or the
Beneficiary’s life expectancy as of the date payments commence.”

 

(h)            Section
7.3 of the Plan is hereby amended by adding the following at the end thereof:

 

“(d)          ERISA Section 404(c). 
The Plan is intended to be an “ERISA Section 404(c) plan” as defined in
Department of Labor Regulations Section 2550.404c-1(b).  Pursuant to Department of Labor Regulations
Section 2550.404c-1(d)(2)(ii)(E)(4)(viii), the Benefits Committee shall be the
fiduciary that shall ensure that (i) sufficient procedures are in place so that
information relating to the purchase, holding and sale of Cinergy Stock, and
the exercise of voting, tender and similar rights with respect to such
securities by Members and Beneficiaries, is maintained in accordance with
procedures which are designed to safeguard the confidentiality of such information,
except to the extent necessary to comply with federal laws or state laws not
preempted by ERISA, (ii) such procedures are being followed and (iii) an
independent fiduciary has been appointed to carry out activities relating to
any situations which the Benefits Committee determines involve a potential for
undue employer influence upon Members and Beneficiaries with regard to the
direct or indirect exercise of shareholder rights.”

 

(i)             Effective
with respect to distributions on or after March 28, 2005, Paragraph 2 of
Section 6 of the Addendum to the Plan is hereby amended and restated in its
entirety to provide as follows:

 

3

 

“2.  Rollovers Included in Determining Value of
Account Balance for Involuntary Distributions. For purposes of Subsection
6.2 of the Plan, the value of a participant’s nonforfeitable account balance
shall be determined after taking into account that portion of the account
balance that is attributable to rollover contributions (and earnings allocable
thereto) within the meaning of Sections 402(c), 403(a)(4), 403(b)(8),
408(d)(3)(A)(ii), and 457(e)(16) of the Code. 
If the value of the participant’s nonforfeitable account balance as so
determined is $1,000 or less, the Plan shall immediately distribute the
participant’s entire nonforfeitable account balance.”

 

IN WITNESS WHEREOF, Cinergy Corp. has caused this Amendment to be
executed and approved by its duly authorized officer.

 

 

	
   

  	
  By:

  	
  /s/ Timothy J. Verhagen

  	
   

  
	
   

  	
   

  	
  Timothy J. Verhagen

  
	
   

  	
   

  	
  Vice President of Human Resources

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  Date:

  	
  December 17, 2004

  	
   

  
					

 

4Exhibit 10.jjj

 

Adopted pursuant to resolutions of the
Cinergy Corp.

Benefits Committee on December 17, 2004

 

AMENDMENT TO THE

CINERGY CORP. UNION EMPLOYEES’ 401(K) PLAN

 

The Cinergy Corp. Union Employees’ 401(k)
Plan, as amended and restated effective January 1, 2003, is hereby amended,
effective as of January 1, 2005 or such other date specified below.

 

Explanation of Amendment

 

The amendment (i) clarifies
that nonresident aliens with no United States source income are not eligible to
participate in the Plan, (ii) clarifies the Plan’s disability provisions, (iii)
reduces the amount to which an involuntary cash-out applies from $5,000 to
$1,000 and provides that such determination shall be made after taking into
account rollover contributions and (iv) clarifies the Plan’s ERISA Section
404(c) provisions.

 

Amendment

 

(a)            Section
2.1(o) of the Plan is hereby amended and restated in its entirety to provide as
follows:

 

“Eligible Employee”
means an Employee on the payroll of an Employer who has attained age 18 and
whose terms and conditions of employment are governed by a collective
bargaining agreement that provides for participation in the Plan, provided,
however, that an “Eligible
Employee” shall not include (1) a “leased employee” (as defined in
Section 3.3), (2) an individual who is classified by the Employer as a
summer laborer or a summer employee and (3) an individual who is a nonresident
alien and who receives no earned income (within the meaning of Section
911(d)(2) of the Code) from an Employer which constitutes income from sources
within the United States (within the meaning of Section 861(a)(3) of the Code).”

 

(b)            The
first sentence of Section 5.3 of the Plan is hereby amended and restated in its
entirety to provide as follows:

 

“Upon a Member’s termination of employment for any reason, including
retirement or death, or upon a Member’s Disability, the Member’s Profit Sharing
Account shall be distributable as provided in Article 6.”

 

(c)            The
first sentence of Section 6.1 of the Plan is hereby amended and restated in its
entirety to provide as follows:

 

“Upon a Member’s termination of employment for any reason, including
retirement or death, or upon a Member’s Disability, the vested amount of the
Member’s Account will

 

1

 

be distributable to the Member, or to the Member’s Beneficiary in case
of the Member’s death.”

 

(d)            Effective
with respect to distributions on or after March 28, 2005, Section 6.2(b) of the
Plan is hereby amended and restated in its entirety to provide as follows:

 

“If the vested portion of the Member’s
Account to be distributed pursuant to Section 6.1 does not exceed $1,000,
then the distribution will be made as soon as practicable following termination
of employment.  If the value of the vested
portion of the Member’s Account exceeds $1,000, then the distribution will be
made as of any Valuation Date elected by the Member, subject to (a) through
(g).”

 

(e)            Effective
with respect to distributions on or after March 28, 2005, the first sentence of
the second paragraph of Section 6.3(c) of the Plan is hereby amended and
restated in its entirety to provide as follows:

 

“If a Member dies prior to commencement of
distribution of his Account, and the value of the vested portion of his Account
balance exceeds $1,000, the Member’s Beneficiary may elect to receive
distribution of the vested portion of the Member’s Account in a lump sum or in
annual installments over a period not exceeding the greater of ten years or the
Beneficiary’s life expectancy as of the date payments commence.”

 

(f)             Section
7.3 of the Plan is hereby amended by adding the following at the end thereof:

 

“(d)          ERISA Section 404(c). 
The Plan is intended to be an “ERISA Section 404(c) plan” as defined in
Department of Labor Regulations Section 2550.404c-1(b).  Pursuant to Department of Labor Regulations
Section 2550.404c-1(d)(2)(ii)(E)(4)(viii), the Benefits Committee shall be the
fiduciary that shall ensure that (i) sufficient procedures are in place so that
information relating to the purchase, holding and sale of Cinergy Stock, and
the exercise of voting, tender and similar rights with respect to such
securities by Members and Beneficiaries, is maintained in accordance with
procedures which are designed to safeguard the confidentiality of such
information, except to the extent necessary to comply with federal laws or
state laws not preempted by ERISA, (ii) such procedures are being followed and
(iii) an independent fiduciary has been appointed to carry out activities
relating to any situations which the Benefits Committee determines involve a
potential for undue employer influence upon Members and Beneficiaries with
regard to the direct or indirect exercise of shareholder rights.”

 

(g)            Effective
with respect to distributions on or after March 28, 2005, Paragraph 2 of
Section 5 of the Addendum to the Plan is hereby amended and restated in its
entirety to provide as follows:

 

“2.  Rollovers Included in Determining Value of
Account Balance for Involuntary Distributions. For purposes of Subsection
6.2 of the Plan, the value of a participant’s nonforfeitable account balance
shall be determined after taking into account that portion of the account
balance that is attributable to rollover contributions (and earnings

 

2

 

allocable
thereto) within the meaning of Sections 402(c), 403(a)(4), 403(b)(8),
408(d)(3)(A)(ii), and 457(e)(16) of the Code. 
If the value of the participant’s nonforfeitable account balance as so
determined is $1,000 or less, the Plan shall immediately distribute the
participant’s entire nonforfeitable account balance.”

 

IN WITNESS WHEREOF, Cinergy Corp. has caused this Amendment to be
executed and approved by its duly authorized officer.

 

 

	
   

  	
  By:

  	
  /s/ Timothy J. Verhagen

  	
   

  
	
   

  	
   

  	
  Timothy J. Verhagen

  
	
   

  	
   

  	
  Vice President of Human Resources

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  Date:

  	
  December 17, 2004

  	
   

  
					

 

3

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