Document:

Second Amemdment to Anthem's 401(k) Long-Term Savings Investment Plan

 
EXHIBIT 10.25
(i) 
 
SECOND AMENDMENT OF THE

ANTHEM 401(K) LONG TERM SAVINGS INVESTMENT PLAN 
(SECOND RESTATEMENT EFFECTIVE JANUARY 1, 1997) 
 
Pursuant to rights reserved under Article X of the Anthem 401(k) Long Term Savings Investment Plan (the “Plan”), Anthem
Insurance Companies, Inc. (the “Company”) hereby amends the Plan, effective (except as otherwise expressly provided herein) as of the close of business on October 31, 2002, as follows: 
 
1. Section 6.12 of the Plan is hereby amended to provide, in
its entirety, as follows: 
 

	 	6.12	 	Elimination of Annuity Option.    Notwithstanding anything set forth in any Merged Plan Exhibit to the contrary and effective on and after
November 1, 2001, the distribution options described in Section 6.7 shall be the only options available under this Plan for a Participant, including a Participant who previously participated in a Merged Plan; provided, however, that under no
circumstances shall this Section be applicable to a Participant with respect to any distribution with a benefit commencement date earlier than the ninetieth (90th) calendar day after the date the affected Participant has been provided notice that the distribution options described in Section 6.7 are the only distribution options permissible under this Plan;
provided, further, that this Section shall also not apply to any Merged Plan which before its merger into this Plan was subject to the requirements of Section 412 of the Code and was not an employee stock ownership plan. 

 
2. Section 2.47 of the Plan is hereby amended to provide, in
its entirety, as follows: 
 

	 	2.47	 	Merged Plan means any of the plans defined in Sections 2.48 - 2.62b and any other plan that is merged into the Plan after December 31, 2000.

 
3. A new Section 2.62b is added
to the Plan to provide, in its entirety, as follows: 
 

	 	2.62b	 	Merged Plan XVII means The McElroy-Minister Company 401(k) 

 
 

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	 	  Retirement	 	Savings Plan, which was in effect prior to its merger into the Plan on October 31, 2002. 

 
4. The McElroy-Minister Company 401(k) Retirement Savings Plan is merged into the Plan effective as of the
close of business on October 31, 2002 and a new Exhibit M is added to the Plan, a copy of which is attached hereto. 
 
IN WITNESS WHEREOF, this Second Amendment has been adopted this 31st day of October, 2002. 
 
 

	 ANTHEM INSURANCE COMPANIES, INC.

	
	 By:
	 	

	 	 	 Chairman of the Anthem Pension Committee

 
 
 

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EXHIBIT M

 
ANTHEM 401(k) LONG TERM SAVINGS INVESTMENT
PLAN 
 

	 Merged Plan
	 	 The McElroy-Minister Company 401(k) Retirement Savings Plan (“McElroy Plan”).

	
	 Merger Date:
	 	 October 31, 2002

	
	 Accounts:
	 	 A Participant’s accounts maintained under the McElroy Plan shall be held in similar Accounts under the Plan and
shall be subject to the provisions of the Plan, except as provided in this Exhibit M; provided, however, amounts attributable to before tax contributions, matching contributions and rollover contributions to the McElroy Plan which are qualified cash
or deferred arrangements under Section 401(k) of the Code shall be held in a separate subaccount (the “McElroy Plan Subaccount”).

	
	 Distribution:
	 	 That portion of a Participant’s accounts attributable to amounts contributed when the Participant was a
participant in the McElroy Plan will be subject to the distribution provisions applicable under the Plan; until the ninetieth (90th) calendar day following the later of (i) the Merger Date or (ii) the date the affected Participant has been provided notice that the amounts contributed by the Participant will be subject to the distribution provisions applicable
under the Plan.

	
	 	 	 As soon as administratively feasible following the Merger Date, each Participant of the McElroy Plan shall have the
opportunity to elect a distribution of some or all of the amounts which had been held on his or her behalf under the McElroy Plan immediately prior to the Merger Date; provided, however, no distribution of a Participant’s McElroy Plan
Subaccount may be effected before the earlier of the Participant’s termiantion of employment from Employer or the Participant’s attainment of age 59 1/2.

	
	 Investment:
	 	 The monies which had been held in the McElroy Plan immediately before the Merger Date shall, after the Merger Date, be
initially invested in Investment Funds determined by the Pension Committee and communicated to the Participants. As soon is administratively feasible following the Merger Date, Participants of the McElroy Plan shall have the opportunity to elect
Investment Funds with respect to their Accounts held under the Plan, including those Accounts attributable to Merged Plan XVII, in accordance with Section 7.2 of the Plan.

 
 
 

	

	

 

M-1Third Amendment to Anthem's 401(k) Long-Term Savings Investment Plan

EXHIBIT 10.25 (ii) 
 
THIRD AMENDMENT OF THE 
ANTHEM 401(K) LONG TERM SAVINGS INVESTMENT PLAN 
(SECOND RESTATEMENT EFFECTIVE JANUARY 1, 1997) 
 
Pursuant to rights reserved under Article X of the Anthem 401(k) Long Term Savings Investment Plan (the “Plan”), Anthem Insurance Companies, Inc. (the “Company”) hereby amends the
Plan, effective (except as otherwise expressly provided herein) as of January 1, 2002, as follows: 
 
1. Limitations on Contributions.    Section 5.4 of the Plan is hereby amended to provide, in its entirety, as
follows: 
 

	 	5.4	 	Maximum Annual Additions.    Except for catch-up contributions permitted under Section 4.1(a)(v) of the Plan, the maximum Annual Additions
that may be contributed or allocated to a Participant’s Accounts under the Plan for any Limitation Year shall not exceed the lesser of: 

 

	 	(i)	 	$40,000, as adjusted for increases in the cost of living under Section 415(d) of the Code, or 

 

	 	(ii)	 	100 percent of the Participant’s compensation, as defined below, within the meaning of Section 415(c)(3) of the Code, for the Limitation Year.

 
2. Modification of Top-Heavy
Rules.    Article XIII of the Plan is hereby amended as follows: 
 
Section 13.5(d) is hereby amended to provide, in its entirety, as follows: 
 

	 	13.5(d)	 	“Key Eligible Employee” means any Employee or former Employee (including any deceased Employee) who at any time during the Plan Year that includes the
determination date was an officer of the employer having annual compensation greater than $130,000 (as adjusted under Section 416(i)(1) of the Code for Plan Years beginning after December 31, 2002), a 5-percent owner of the employer, or a 1-percent
owner of the employer having annual compensation of more than $150,000. For this purpose, annual compensation means compensation within the meaning of Section 415(c)(3) 

 

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of the Code. The determination of who is a Key Eligible Employee will be made in accordance with Section 416(i)(1) of the Code and the
applicable regulations and other guidance of general applicability issued thereunder. 

 
A new final paragraph is hereby added to Section 13.8 of the Plan to provide, in its entirety, as follows: 
 
Employer matching contributions shall be taken into account
for purposes of satisfying the minimum contribution requirements of Section 416(c)(2) of the Code and the Plan. The preceding sentence shall apply with respect to matching contributions under the Plan or, if the Plan provides that the minimum
contribution requirement shall be met in another plan, such other plan. Employer matching contributions that are used to satisfy the minimum contribution requirements shall be treated as matching contributions for purposes of the actual contribution
percentage test and other requirements of Section 401(m) of the Code. 
 
A new Section 13.10 is hereby added to the Plan to provide, in its entirety, as follows: 
 

	 	13.10	 	Determination of Present Values and Amounts.    This Section 13.10 shall apply for purposes of determining the present values of
Cumulative Accrued Benefits and Cumulative Account Balances of Eligible Employees as of the determination date. 

 

	 	(a)	 	Distributions during Year Ending on the Determination Date. The present values of Cumulative Accrued Benefits and the amounts of Cumulative Account Balances of an
Eligible Employee as of the Determination Date shall be increased by the distributions made with respect to the Eligible Employee under the Plan and any plan aggregated with the Plan under Section 416(g)(2) of the Code during the 1-year period
ending on the Determination Date. The preceding sentence shall also apply to distributions under a terminated plan which, had it not been terminated, would have been aggregated with the Plan under Section 416(g)(2)(A)(i) of the Code. In the case of
a distribution made for a reason other than separation from service, death, or Disability, this provision shall be applied by substituting 5-year period for 1-year period. 

 

	 	(b)	 	Eligible Employees Not Performing Services during Year Ending on the Determination Date. The Cumulative Accrued Benefits and Cumulative Account Balance of any
individual who has not performed services for the Employer during the 1-year period ending on the determination date shall not be taken into account. 

 
3. Repeal of Multiple Use Test.    Section 4.8 of the Plan is hereby amended by
the addition of a new final paragraph which provides, in its entirety, as follows: 
 

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The Multiple Use Test described in Treasury Regulation Section 1.401(m)-2 and the Plan
shall not apply for Plan Years beginning after December 31, 2001. 
 
4. Increase in Compensation Limit.    The first paragraph of Section 2.15 of the Plan is hereby amended by the addition of a new last sentence which provides, in its entirety, as follows:

 
The Compensation of each Participant taken
into account in determining allocations for any Plan Year beginning after December 31, 2001, shall not exceed $200,000, as adjusted for cost of living increases in accordance with Section 401(a)(17)(B) of the Code. The cost of living adjustment in
effect for a calendar year applies to Compensation for the determination period that begins with or within such calendar year. 
 
5. Contribution Limitation for Elective Deferrals.    Section 2.15 of the Plan is hereby amended by the
addition of a new final paragraph which provides, in its entirety, as follows: 
 
No Participant shall be permitted to have elective deferrals made under this Plan, or any other qualified plan maintained by the Employer during any taxable year, in excess of the dollar limitation
contained in Section 402(g) of the Code in effect for such taxable year, except to the extent permitted under Section 4.1(a)(v) of the Plan and Section 414(v) of the Code, if applicable. 
 
IN WITNESS WHEREOF, this Third Amendment has been adopted this 31st day of December, 2002. 
 
 

	 ANTHEM INSURANCE COMPANIES, INC.

	
	 By:
	 	 
	 	

	 	 	 Chairman of the Anthem Pension Committee

 

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