Document:

Amendment No. 4 to the UPS Savings Plan

 Exhibit 10.3(4) 
 Execution Copy 
 AMENDMENT NUMBER FOUR 
 TO THE 
 UPS SAVINGS PLAN 
 WHEREAS, The United Parcel Service of America, Inc. (the “Company”) and its affiliated corporations maintain the UPS Savings Plan (the
“Plan”) as amended and restated effective January 1, 1998; and 
 WHEREAS, the Board of Directors of the Company reserved the
right in Section 14.1 of the Plan to amend, modify or change the Plan from time to time; and 
 WHEREAS, this amendment to the Plan is
adopted to (1) provide eligible participants with the opportunity to defer from 1 to 100% of the cash portion of their MIP award to the Plan (less applicable payroll tax withholding), (2) allow for the use of an on-line method and recorded
phone line method of designating beneficiaries, and (3) provide for partial distributions to Participants who have separated from service and to alternate payees. 
 NOW THEREFORE, pursuant to the authority vested in the Board of Directors, the UPS Savings Plan is hereby further amended to reflect the following changes: 
 1. Effective as of September 1, 2005, Section 1.18(d), Eligible Compensation, is hereby amended by deleting it in its entirety and replacing it with the
new Section 1.18(d) to read as follows: 
 “MIP awards (other than the portion payable solely in the form of cash);”

 2. Effective as of September 1, 2005, Section 3.1(a)(1), Pre-Tax Contributions is hereby amended by deleting such subparagraph in its
entirety and replacing it with the following new subparagraph 3.1(a)(1) to read as follows: 
 “(1) from 1% to 25% (for periods before
August 1, 2002, from 1% to 17%) in 1% increments of his or her Eligible Compensation (excluding those items set forth in Section 3.1(a)(2), (3), (4), and (5) below) for each pay period;” 
 3. Effective as of September 1, 2005, Section 3.1(a), Pre-Tax Contributions is hereby amended by deleting the word “and” from the end of
subparagraph (3), deleting the “.” at the end of subparagraph (4), adding a “;” immediately following the word “off” in subparagraph (4), and adding the word “and” immediately following the newly added
“;” in subparagraph (4). 
 4. Effective as of September 1, 2005, Section 3.1(a), Pre-Tax Contributions is hereby amended by
adding the following new subparagraph (5) to read as follows: 

 “(5) from 1% to 100%, in 1% increments, of the portion of his or her MIP award paid solely in the
form of cash (less amounts withheld for FICA and Medicare taxes).” 
 5. Effective as of September 1, 2005, the first sentence of
Section 3.1(b), Catch-Up Contributions is hereby amended by replacing the parenthetical description of amounts excluded from Eligible Compensation for making Catch-Up Contributions and replacing it with a new description to read as
follows: 
 “(excluding those items set forth in Section 3.1(a)(2), (3), (4), and (5))” 
 6. Effective as of September 1, 2005, Section 3.1(b), Catch-Up Contributions is hereby further amended by adding a new second sentence immediately
following the first sentence to read as follows: 
 “Effective September 1, 2005, each Participant who is an Eligible Employee
(other than an Eligible Employee employed in Puerto Rico) who will attain age 50 before the close of the Plan Year shall be eligible to make Catch-Up Contributions in 1% increments from 1% to 100% of the portion of his or her MIP award payable
solely in the form of cash (less amounts withheld for FICA and Medicare taxes ).” 
 7. Effective as of August 1, 2005 (January 1, 2005 for
distributions from a self-managed account), Section 9.5(a) is amended by adding the following sentences immediately following the first sentence to read as follows: 
 “Notwithstanding the immediately preceding sentence, effective for distributions on or after August 1, 2005 (January 1, 2005 for distributions from a self-managed account), a Participant who has a Separation
from Service may request a lump sum distribution of less than his or her entire Account balance. There is no minimum amount for such partial distributions and each partial distribution is subject to a service fee established by the Committee.”

 8. Effective as of June 20, 2005, Section 9.6(c) of the Plan is amended by adding a new second sentence immediately following the first sentence
to read as follows: 
 “Effective as of June 20, 2005, a Participant may designate one or more Beneficiaries in a manner
satisfactory to the Committee which may include among other things, the use of an approved form, an on-line method via the Plan administrator’s website, or telephonically.” 
 9. Effective as of June 20, 2005, Section 9.6(c) of the Plan is further amended by changing the portion of the fourth sentence regarding the Beneficiary designation form so that the beginning of such
sentence reads as follows: 

 “Unless clearly indicated otherwise by the Participant in his or her Beneficiary designation made in
accordance with this Section 9.6(c):” 
 10. Effective as of August 1, 2005 (January 1, 2005 for distributions from a self-managed account),
Section 9.7 is amended by adding the following sentence immediately following the first sentence to read as follows: 
 “Effective
for distributions on or after August 1, 2005 (January 1, 2005 for distributions from a self-managed account), if the qualified domestic relations order so provides, an alternate payee may receive a lump sum distribution of less than the entire
balance credited to that portion of the Participant’s Account allocated to such alternate payee. There is no minimum amount for such partial distributions and each partial distribution is subject to a service fee established by the
Committee.” 
  

	11.	Except as otherwise provided, this amendment shall be effective as of the dates specified herein. 

 11. Except as amended herein, the Plan as in effect before this Amendment No. Four shall remain in full force and effect. 
 IN WITNESS WHEREOF, the undersigned certify that United Parcel Service of America, Inc., based upon action by its Board of Directors on this 16 day of August, 2005, has caused this Amendment No. Four to be adopted.

  

					
	ATTEST:	 		 	 UNITED PARCEL SERVICE
 OF AMERICA,
INC.

			
	/s/    ALLEN E. HILL	 		 	/s/    MICHAEL L. ESKEW
	Allen E. Hill	 		 	Michael L. Eskew
	Secretary	 		 	ChairmanAmendment No. 5 to the UPS Savings Plan

 Exhibit 10.3(5) 
 Execution Copy 
 AMENDMENT NUMBER FIVE 
 TO THE 
 UPS SAVINGS PLAN 
 WHEREAS, United Parcel Service of America, Inc. (the “Company”) and its affiliated corporations maintain the UPS Savings Plan (the
“Plan”) as amended and restated effective January 1, 1998; 
 WHEREAS, the Board of Directors of the Company reserved the
right in Section 14.1 of the Plan to amend, modify or change the Plan from time to time; 
 WHEREAS, Overnite Corporation became a
wholly owned subsidiary and Overnite Transportation Company, Motor Cargo and Motor Cargo Distribution Services, Inc. became wholly owned indirect subsidiaries of United Parcel Service, Inc. on August 5, 2005 pursuant to an agreement of merger
among United Parcel Service, Inc., Olympic Merger Sub, Inc. and Overnite Corporation dated as of May 25, 2005 (the “Merger”); 
 WHEREAS, as a result of the Merger, the Company desires to make Overnite Corporation, Overnite Transportation Company, Motor Cargo and Motor Cargo Distribution Services, Inc. Employer Companies in the Plan effective as of January 1,
2006; 
 WHEREAS, also as a result of the Merger, the Company desires to merge the assets and liabilities of the Motor Cargo Profit Sharing
Plan attributable to (i) those participants who are employees of Motor Cargo and whose terms and conditions of employment are not governed by a collective bargaining agreement and (ii) terminated vested participants whose terms and
conditions of employment as of their most recent termination date were not governed by a collective bargaining agreement with and in to the Plan effective on or about February 28, 2006; 
 WHEREAS, also as a result of the Merger, the Company desires to merge the assets and liabilities of the Overnite Transportation Company Tax
Reduction Investment Plan with and into the Plan effective on or about February 28, 2006; and  
 WHEREAS, the Company also
desires to amend the Plan to (i) reduce the minimum account balance required to allow terminated participants to make a rollover contribution to $1000 so that it will conform to the cash-out limitations (ii) clarify the service requirement
for installment distributions, (iii) to clarify that the portion of an account invested in the self-managed account is not available for a loan and or an in-service withdrawal and (iv) to add a provision for accepting contributions from
participants who were on military leave under a plan merged into this Plan. 

 NOW THEREFORE, pursuant to the authority vested in the Board of Directors by Section 14.1 of the
Plan, the UPS Savings Plan is hereby amended, as follows: 
 1. By amending Section 3.6, effective as of March 28, 2005, to delete the last
sentence thereof and insert the following sentence at the end of such Section: 
 Effective March 28, 2005, a Participant who has
incurred a Separation from Service may contribute to the Trust in accordance with this Section 3.6(a), provided that the Participant has not otherwise received a distribution of his or her Account pursuant to Section 9.2 and the
Participant’s aggregate balance in the Savings Plan and the QSOP exceeds one thousand dollars ($1,000.00). 
 2. By amending the phrase (1) in the
first sentence of Section 9.5(b), effective as of January 1, 2003, to read as follows: 
 (1) he or she Separates from Service on or
after attaining age fifty-five (55) and completing at least ten (10) years of service (as described in Section 1.40), taking into account any prior service credit with an employer identified in Appendix 1.38 from his or her most
recent employment date or reemployment commencement date with such employer. 
 3. By amending the introductory paragraph of Section 9.8,
Section 9.8A and Section 9.9 to add the following sentence at the end of such Sections effective as of January 1, 1998: 
 Notwithstanding any contrary provisions, the portion of an Account invested in a self-managed account (as described in Section 9.5(b)) will not be available for withdrawal under this Section. 
 4. By amending the first sentence of Section 10.1(a), effective as of January 1, 1998, to add the following proviso to the end of such sentence: 
 ; provided, however, that the portion of a person’s Account allocated to his or her SavingsPLUS Transfer Account or invested in a self-managed
account (described in Section 9.5(b)) shall not be available for hardship loans. 
 5. By amending Section 15.10, USERRA, effective as of
January 1, 2006, to add the following sentence to the end thereof: 
 Additionally, to the extent required under Code § 414(u),
a Participant eligible to make contributions to this Plan with respect to a period of military leave from an employer that sponsored a merged plan (as listed in Appendix 1.38) and which leave occurred (all or in part) prior to the merger of such
merged plan into this Plan, and the amount of such contributions for the portion of the leave that occurred prior to the merger shall be determined under the terms of the merged Plan as in effect during the period of the applicable leave.

 6. By amending Appendix 1.23, effective as of January 1, 2006, to add Overnite Corporation, Overnite Transportation
Company, Motor Cargo and Motor Cargo Distribution Services, Inc. to the list of participating employers. 
 7. By amending Appendix 1.38, effective
February 28, 2006, to add Overnite Corporation, Overnite Transportation Company, Motor Cargo and Motor Cargo Distribution Services, Inc. to the list of companies for which prior service credit will be recognized and to add Overnite
Transportation Company Tax Reduction Investment Plan and the Motor Cargo Profit Sharing Plan to the list of merged plans. 
 8. By amending Appendix 14.3,
Special Provisions Relating to Mergers, Acquisitions, and other Transfers, effective as of February 28, 2006, to add Sections 14.3.7 and 14.3.8, as follows: 
 Section 14.3.7 Overnite Corporation and Overnite Transportation Company 
 (a)
Overnite Plan. For purposes of this Section 14.3.7, Overnite Plan means the Overnite Transportation Company Tax Reduction Investment Plan, as in effect immediately prior to the transfer of its assets and liabilities into this Plan
effective on or about February 28, 2006. 
 (b) Merger. The assets and liabilities of the Overnite Plan will be
merged with and into this Plan on or about February 28, 2006. 
 (c) Accounts. An Account will be established
under this Plan to reflect the interest of each former participant in the Overnite Plan to the extent he or she does not already have an Account under this Plan. The portion of a Participant’s account under the Overnite Plan attributable to his
or her “salary deferrals” and “catch-up contributions”, if any, will become part of his or her Pre-Tax Contribution Account under this Plan; the portion attributable to his or her “rollover contributions”, if any, will
become part of his or her Rollover Contribution Account under this Plan; and the remaining portion of a Participant’s account under the Overnite Plan will become a part of his or her Merged Account under this Plan. 
 (d) In-Service Distribution. A Participant who has a Merged Account
attributable to assets transferred from the Overnite Plan to this Plan on or about February 28, 2006 may withdraw all or any portion of this or her entire Account balance pursuant to Section 9.8(b) of the Plan (59  1/2 Withdrawal). 
 Section 14.3.8 Motor Cargo 
 (a) Motor Cargo Plan. For purposes of this Section 14.3.8,
Motor Cargo Plan means the Motor Cargo Profit Sharing Plan, as in effect immediately prior to the transfer of its assets and liabilities into this Plan effective on or about February 28, 2006. 

 (b) Merger. The assets and liabilities of the Motor Cargo Profit Sharing Plan
attributable to (i) participants who are employees as of December 31, 2005 and whose terms and conditions of employment are not governed by a collective bargaining agreement and (ii) terminated vested participants whose terms and
conditions of employment as of their most recent termination date were not governed by a collective bargaining agreement, will be merged with and into this Plan effective on or about February 28, 2006. 
 (c) Accounts. An Account will be established under this Plan to reflect the interest of each former participant who had an account
balance transferred from the Motor Cargo Plan to the extent he or she does not already have an Account under this Plan. The portion of a Participant’s account under the Motor Cargo Plan attributable to his or her “deferral
contributions” and “catch-up contributions”, if any, will become part of his or her Pre-Tax Contribution Account under this Plan; the portion attributable to his or her “rollover contributions”, if any, will become part of
his or her Rollover Contribution Account under this Plan; and the remaining portion of a Participant’s account under the Motor Cargo Plan will become a part of his or her Merged Account. 
 (d) In-Service Distribution Amounts. A Participant who has a Merged Account
attributable to assets transferred from the Motor Cargo Plan to this Plan on or about February 28, 2006 may withdraw all or any portion of that Merged Account balance pursuant to Section 9.8(b) of the Plan (59  1/2 Withdrawal). Additionally, a Participant who receives an in-service hardship distribution from the Motor Cargo Plan and who would
be prevented from making contributions to the Motor Cargo Plan after December 31, 2005 as a result of such withdrawal, will to be subject to such contribution suspension under this Plan as if it were the Motor Cargo Plan. 
 IN WITNESS WHEREOF, the undersigned certify that United Parcel Service of America, Inc. based upon action by its Board of Directors on December 20, 2005,
has caused this Amendment No. 5 to be adopted. 
  

					
	ATTEST:	 		 	 UNITED PARCEL SERVICE
 OF AMERICA,
INC.

			
	/s/    ALLEN E. HILL	 		 	/s/    MICHAEL L. ESKEW
	Allen E. Hill	 		 	Michael L. Eskew
	Secretary	 		 	Chairman

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00137-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00137-of-00352.parquet"}]]