Document:

Exhibit 4.11

 

AMENDMENT NUMBER FOUR

TO THE

GREAT LAKES SAVINGS PLAN

 

THIS AMENDMENT NUMBER FOUR is executed this          
day of                         ,
2004 by Great Lakes Chemical Corporation (“Corporation”).

 

WITNESSETH:

 

WHEREAS, the Corporation adopted the Great Lakes Savings Plan (“Plan”)
effective as of May 1, 1985, which was most recently restated in its
entirety effective as of January 1, 2003,  and later amended three times;

 

WHEREAS, the Corporation wishes to change the Plan to provide immediate
eligibility with regard to participation for all future Participants in the
Plan;

 

NOW, THEREFORE, the Plan is hereby amended, effective as provided
herein, as follows:

 

1.             Effective November 1, 2004, Section 2.01(w) “Entry
Date,” shall be deleted in its entirety.

 

2.             Effective November 1, 2004, Section 3.01(b) “Participation,”
shall be amended to be and read as follows:

 

(b)           Except as provided
in subsection (a), and effective as of November 1, 2004, an Employee
shall become a Participant in the Plan effective as of the first payroll period
on or after he/she (i) completes an Hour of Service as an Eligible
Employee for an Employer, and (ii) completes and properly submits to the
Administrator or its designee any Applicable Forms for participation in the Plan,
as provided under Section 4.02.  See
Section 4.05 for Eligible Employee participation with regard to Rollover
Contributions.

 

3.             Effective November 1, 2004, Section 4.02(c) “Pre-Tax
Contributions,” shall be amended to be and read as follows:

 

(c)           A Participant may
elect to make or change an election to make Pre-Tax Contributions at any time
by completing the Applicable Form within such period before the effective
date of the election or change in election as the Administrator may establish
to become effective as of the first payroll period on or following such
election.  A Participant may suspend his
Pre-Tax Contributions at any time on an Applicable Form filed with the
Administrator within such period before the effective date of the suspension as
the Administrator may

 

 

establish.  Except as provided in Section 4.02(a) or
Section 7.09(c)(3), the election of a Participant to make, change, or
suspend Pre-Tax Contributions shall remain continuously in effect until changed
by the Participant or the Participant Terminates Employment or Retires.

 

4.             Effective for payroll periods ending on or after September 10,
2004, Section 11.03(c) “Company Stock,” shall be amended by adding
the following sentence to the end thereof, to be and read as follows:

 

(c)           “Trading Impact Procedures
may apply.”

 

5.             In all other respects, the Plan shall be and remain
unchanged.

 

This Amendment Number Four to the Plan is executed by the duly
authorized officer of Great Lakes Chemical Corporation as of the date first
above written.

 

	
   

  	
  GREAT
  LAKES CHEMICAL CORPORATION

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  Title:

  	
   

  	
   

  
							

 

2Exhibit 4.12

 

AMENDMENT NUMBER FIVE

TO THE

GREAT LAKES SAVINGS PLAN

 

THIS AMENDMENT NUMBER FIVE is executed this          
day of                         ,
2004 by Great Lakes Chemical Corporation (“Corporation”).

 

WITNESSETH:

 

WHEREAS, the Corporation adopted the Great Lakes Savings Plan (“Plan”)
effective as of May 1, 1985, most recently restated the Plan in its
entirety effective as of January 1, 2003,  and later amended the Plan four times; and

 

WHEREAS, the Corporation wishes to change the Plan as provided herein;

 

NOW, THEREFORE, the Plan is hereby amended, effective as provided
herein, as follows:

 

1.                                       Effective
January 1, 2004, Section 2.01(s), “Eligible Employee,” shall be
amended by adding the following sentence to the end thereof, to be and read as
follows:

 

(s)                                  Notwithstanding
the above, expatriates shall be eligible to participate in the Plan in
accordance with the terms and conditions of his/her assignment agreement with
an Employer.

 

2.                                       Effective
January 1, 2004, Section 4.02(b) is amended to read as follows:

 

(b)                                 Pre-Tax
Contributions shall reduce the cash compensation otherwise payable to a
Participant and shall be paid in cash to the Trustee by the Employer on a basis
consistent with its payroll practices within a reasonable period after being
withheld from the Participant’s cash compensation and within the time period
prescribed by law.  Pre-Tax Contributions
made on behalf of a Participant for a Plan Year shall be allocated to the
Participant’s Pre-Tax Contribution Account as of the earlier of the date on
which they are contributed to the Trust or the last day of the Plan Year.

 

3.                                       Effective
November 1, 2004, Section 4.03, “Matching Contributions,” is amended
to read as follows:

 

Section 4.03.  Matching Contributions.

 

(a)                                  Unless
the Board of Directors determines otherwise before the beginning of a Plan
Year, the Employer shall contribute the following Matching Contributions on
behalf of each Participant:

 

 

(1)                                  with
respect to each payment of Plan Compensation, a Matching Contribution equal to
fifty percent (50%) of the Pre-Tax Contributions of the Participant with
respect to such payment to the extent that such Pre-Tax Contributions do not
exceed six percent (6%) of the Participant’s Plan Compensation included in such
payment; and

 

(2)                                  an
additional Matching Contribution on behalf of each Participant who made Pre-Tax
Contributions with respect to the Plan Year and who is an Employee on the last
day of the Plan Year equal to the excess, if any, of

 

(a)                                  fifty
percent (50%) of the Participant’s Pre-Tax Contributions for the Plan Year to
the extent that such Pre-Tax Contributions do not exceed six percent (6%) of
the Participant’s Plan Compensation for the Plan Year, over

 

(b)                                 the
Matching Contributions made for such Participant for the Plan Year pursuant to
paragraph (1) above.

 

(b)                                 Matching
Contributions made on behalf of a Participant shall be made in Company Stock or
cash, in which case the cash shall be used promptly to purchase Company Stock
on the open market.

 

(c)                                  Matching
Contributions made on behalf of a Participant pursuant to Subsection (a)(1) shall
be allocated to the Participant’s Matching Account at the same time as the
related Pre-Tax Contributions are allocated to his Pre-Tax Contributions
Account.  Matching Contributions made on
behalf of a Participant pursuant to Subsection (a)(2) shall be
allocated to the Participant’s Matching Account as of the last day of the Plan
Year.

 

(d)                                 If
a Participant is employed by more than one (1) Employer during a Plan
Year, the portion of the total Matching Contributions of the Participant for
the Plan Year that is paid by each Employer shall be based on the percentage of
the Pre-Tax Contributions of the Participant for the Plan Year paid by the
Employer.

 

4.                                       Effective
January 1, 2005, Section 11.02, “Investments,” is amended to read as
follows:

 

Section 11.02.  Investments.

 

(a)                                  Each
Participant shall have the right to direct the investment of his Accounts in
accordance with this Section.

 

(b)                                 Subject
to the limitations of Section 11.03, contributions shall be invested as
elected by the Participant, or as subsequently changed, on the Applicable Form filed
with the Administrator, subject to such conditions as it may prescribe.

 

2

 

(c)                                  Contributions
shall be invested in multiples of five percent (5%) in any one (1) or more
of the Funds, as elected by the Participant on the Applicable Form filed
with the Administrator, or its designee, or by such other means as may be
provided for the Funds, subject to such conditions as the Administrator, or its
designee, may prescribe.  If a
Participant does not complete an Applicable Form electing the investment
of his Accounts, his Accounts shall be invested in the Fund or Funds designated
by the Administrator, from time to time.

 

(d)                                 A
Participant may change his investment election with respect to contributions to
be made thereafter.  Subject to Section 11.03
and the limitations of the Funds, a Participant may elect to transfer all or
any portion of the Accounts of the Participant invested in any one (1) Fund
to another Fund by filing a request on the Applicable Form with the
Administrator, or its designee, or by such other means as may be provided for
the Funds.  Certain Trading Impact
Procedures may apply.

 

(e)                                  Where
excessive trading can undermine any of the Funds or exceed the available
liquidity for any such Fund, the Company reserves the right to modify or
suspend transfer and withdrawal privileges on any of the Funds, at any time,
upon notice to Participants.

 

(f)                                    A
reasonable annual administrative fee, as determined by the Administrator, may
be charged to the Accounts of a Participant who has Terminated Employment or
Retired for related expenses after the first Plan Year of the Participant’s
Termination of Employment or Retirement.

 

5.                                       Effective
January 1, 2005, Section 11.03 “Company Stock,” shall be amended to
be and read as follows:

 

Section 11.03.                       Company
Stock.

 

(a)                                  Participants
may direct the investment of their Accounts into Company Stock as provided in Section 11.02.  In addition, as provided under Article IV,
certain Matching Contributions shall be made in Company Stock or cash used to
purchase Company Stock on the open market.

 

(b)                                 No
employer securities shall be distributed from the Plan for any type of Plan
distribution, whether Retirement, Termination of Employment, death, in-service
withdrawal or loan.  All Company Stock
shall be liquidated under the Plan, as allowed under the terms and conditions
of the Plan, in order to effectuate any distribution.  All distributions from
the Plan shall be paid in cash.

 

(c)                                  Elections
with respect to investments in Company Stock by Participants who are members of
the Board of Directors of the Company or who are officers of the Company within
the meaning of Securities and Exchange

 

3

 

Commission Rule 16a-1(f),
will be given effect only if one of the following conditions is met:

 

(1)                                  if
the election is made in connection with the death, Disability, Retirement, or
Termination of Employment of the Participant; or

 

(2)                                  the
election is required to be made available to the Participant pursuant to the
Internal Revenue Code; or

 

(3)                                  if
the election involves a transfer of existing Account balances into Company
Stock, it is not made within six (6) months following the most recent
election, with respect to any employee benefit plan of the Company, that
effected a transaction that was a disposition of Company Stock; or, if the
election involves a transfer of Account balances out of the Company Stock, it
is not made within six (6) months following the most recent election, with
respect to any employee benefit plan of the Company, that effected a
transaction that was an acquisition of Company Stock; or

 

(4)                                  if
the election results in the investment of future contributions (e.g., new
money) into Company Stock; or

 

(5)                                  the
election is determined by the Trustee, based upon the advice of counsel to the
Company, to be otherwise exempt from Section 16(b) of the Securities
Exchange Act of 1934, as amended.

 

6.                                       Effective
December 1, 2004, a new Article XVIII is added, which shall read as
follows:

 

ARTICLE XVIII

 

TRANSFER OF ASSETS AND LIABILITIES WITH RESPECT TO TRANSFERRED
PARTICIPANTS

 

Section 18.01.  Definitions.

 

For purposes of this Article, the following terms shall have the
meanings specified below:

 

(a)                                  “New
WIL” means WIL Research Laboratories, LLC.

 

(b)                                 “New
WIL Plan” means a qualified retirement plan containing a qualified cash or
deferred arrangement established by New WIL for the benefit of eligible
employees.

 

(c)                                  “Old
WIL” means WIL Research Laboratories, Inc.

 

4

 

(d)                                 “Transferred
Participant” means a Participant who (i) was employed by Old WIL
immediately before the sale of Old WIL’s assets to New WIL and (ii) is an
employee of New WIL on January 1, 2005.

 

Section 18.02.  Transfer of Assets and Liabilities to New
WIL Plan.

 

(a)                                  Subject
to the following provisions of this Section, as soon as administratively
feasible after January 1, 2005, the Plan shall transfer in a
trust-to-trust-transfer to the trust for the New WIL Plan the assets and
liabilities of the Plan with respect to Transferred Participants.  After such transfer, the Plan shall have no
further obligations with respect to any Transferred Participant.

 

(b)                                 The
transfer required by Subsection (a) shall comply in all respects with
the applicable requirements of the Code, including Code Section 414(l),
and it shall be conditioned on the Administrator’s prior receipt of
documentation, including any agreement reasonably requested by the
Administrator, deemed by the Administrator to be necessary or appropriate to
assure compliance with the Code’s requirements.

 

(c)                                  Each
Transferred Participant’s benefit under the New WIL Plan immediately after the
transfer, determined as if the New WIL Plan had then terminated, shall be equal
to or greater than his benefit under this Plan immediately before the transfer,
determined as if this Plan had then terminated.

 

7.                                       In
all other respects, the Plan shall remain unchanged.

 

This Amendment Number Five to the Plan is executed by the duly
authorized officer of Great Lakes Chemical Corporation as of the date first
above written.

 

	
   

  	
  GREAT
  LAKES CHEMICAL CORPORATION

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  Title:

  	
   

  	
   

  
						

 

5

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