Document:

Exhibit 10.29

 

ELEVENTH AMENDMENT

TO THE FIRST RESTATEMENT OF THE

MERIT MEDICAL SYSTEMS, INC. 401(k) PROFIT SHARING
PLAN

 

This
Eleventh Amendment to the First Restatement of the Medical Systems, Inc.
401(k) Profit Sharing Plan (the “Plan”) is adopted effective as of January 1,
2008 by Merit Medical Systems, Inc. (the “Employer”) as principal sponsor
of the Plan.

 

WHEREAS,
the Employer maintains the Plan for the benefit of its employees and the
employees of its participating subsidiaries; and

 

WHEREAS,
it is necessary and desirable to amend the Plan’s definitions of “Compensation”  and “Section 415 Total Earnings” to
reflect “final” Internal Revenue Code Section 415 regulations that apply
to the Plan for limitation years beginning after July 1, 2007; and

 

WHEREAS,
the Employer has reserved the right to amend the Plan.

 

NOW,
THEREFORE, the Plan is hereby amended as follows:

 

1.                                       Article I, Section 11 of the Plan
document, defining “Compensation,” is amended to add the following paragraph at
the end thereof:

 

“With respect to any Plan Year, a Participant’s
Compensation for that Plan Year shall mean the amount of Compensation actually
paid to the Participant during that Plan Year (regardless of whether earned
during the Plan Year or the immediately preceding Plan Year).  Notwithstanding the foregoing, Compensation
for a Plan Year shall not include amounts paid by the Employer after the
effective date of the Participant’s “severance from employment” within the
meaning of Treasury Regulation Section 1.415(a)-1(f)(5) except for
the following amounts which the Employer pays by the later of (i) 2 1⁄2
months after the effective date of severance from employment, or (ii) the
end of the Limitation Year that includes the effective date of severance from
employment:

 

(a)  Regular pay for
services during the Participant’s regular working hours, or compensation for
services rendered outside the Participant’s regular working hours (such as
overtime or shift differential), bonuses, commissions or other similar accrued
amounts that would have been paid had the Participant not incurred a severance
from employment; and

 

(b)  Payment for
unused, accrued bona fide sick, vacation or other leave, but only to the extent
the Participant would have been able to use such leave if employment had continued.

 

In no event shall any severance pay, severance benefits or
non-qualified deferred compensation paid after the date of severance of
employment be included in Compensation, and no contributions shall be made
under the Plan with respect to such excluded amounts.”

 

 

2.                                       Article I, Section 46 of the Plan
document, defining “Section 415 Total Earnings,” is amended to add the
following paragraph at the end thereof:

 

“With respect to any Limitation Year, a
Participant’s Section 415 Total Earnings for that Limitation Year shall
mean the amount of “Compensation” actually paid to the Participant during that
Limitation Year (regardless of whether earned during the Limitation Year or the
immediately preceding Limitation Year). 
Notwithstanding the foregoing, Section 415 Total Earnings for a
Limitation Year shall not include amounts paid by the Employer after the
effective date of the Participant’s “severance from employment” within the
meaning of Treasury Regulation Section 1.415(a)-1(f)(5) except for
the following amounts which the Employer pays by the later of (i) 2 1⁄2
months after the effective date of severance from employment, or (ii) the
end of the Limitation Year that includes the effective date of severance from
employment:

 

(a)  Regular pay for
services during the Participant’s regular working hours, or compensation for
services rendered outside the Participant’s regular working hours (such as
overtime or shift differential), bonuses, commissions or other similar accrued
amounts that would have been paid had the Participant not incurred a severance
from employment; and

 

(b)  Payment for
unused, accrued bona fide sick, vacation or other leave, but only to the extent
the Participant would have been able to use such leave if employment had
continued.

 

In no event shall any severance pay, severance benefits or
non-qualified deferred compensation paid after the date of severance of
employment be included in “Section 415 Total Earnings.”

 

3.                                       Except as provided above, the Plan is hereby
ratified and confirmed in all respects.

 

 

IN WITNESS WHEREOF, the Employer has caused
this Eleventh Amendment to be executed this 21st day of May, 2008.

 

	
   

  	
  MERIT MEDICAL SYSTEMS, INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Rashelle Perry

  
	
   

  	
  Name:

  	
  Rashelle Perry

  
	
   

  	
  Its:

  	
  Chief Legal Officer

  
					

 

2Exhibit 10.30

 

TWELFTH AMENDMENT

TO THE FIRST RESTATEMENT OF THE

MERIT MEDICAL SYSTEMS, INC. 401(k) PROFIT SHARING
PLAN

 

This
Twelfth Amendment to the First Restatement of the Medical Systems, Inc.
401(k) Profit Sharing Plan (the “Plan”) is adopted effective as of January 1,
2008 by Merit Medical Systems, Inc. (the “Employer”) as principal sponsor
of the Plan.

 

WHEREAS,
the Employer maintains the Plan for the benefit of its employees and the
employees of its participating subsidiaries; and

 

WHEREAS,
it is necessary and desirable to amend the Plan’s definition of “Section 415
Total Earnings” to include distributions from unfunded non-qualified deferred
compensation plans in the year distributed: and

 

WHEREAS,
it is necessary and desirable to expand the ability of participants to obtain
in-service distributions at or after attaining age 591⁄2; and

 

WHEREAS,
the Employer has reserved the right to amend the Plan.

 

NOW,
THEREFORE, the Plan is hereby amended as follows:

 

1.                                       Paragraph A of Article I Section 46
of the Plan document, relating to items excluded from the definition of “Section 415
Total Earnings,” is amended to read as follows:

 

“A.          Employer contributions to a plan of
deferred compensation to the extent contributions are not included in gross
income of the Employee for the taxable year in which contributed, or on behalf
of an Employee to a simplified employee pension plan to the extent the
contributions are deductible under Section 219(b)(7) of the Code, and
any distributions from a plan of deferred compensation whether or not
includable in the gross income of the Employee when distributed; provided,
however, that distributions received by an Employee from an unfunded
non-qualified plan are considered Section 415 Total Earnings in the year
the amounts so received are included in the gross income of the Employee;”

 

2.                                       Article VI H of the Plan document,
dealing with in-service distributions after age 59-1/2, is amended to read as
follows:

 

“H.          In-Service Distributions After Age 59-1/2.  Any
Participant who has attained age 59-1/2 and is still employed by an Employer
may elect to receive one or more in-service distributions of a designated
portion of his Vested Benefit prior to his Separation from Service (an “In-Service
Distribution”).   All In-Service
Distributions after attaining age 59-1/2 shall be paid in a lump sum for that
period of distribution.  A Participant
who has attained age 59-1/2 may only receive one In-Service Distribution per
Plan Year after attaining that age and prior to his or her Separation from
Service.  No such In-Service Distribution
shall exceed fifty percent of the Participant’s Vested Benefit as of the
Valuation Date immediately preceding the date of the distribution.  A Participant who elects to receive an
In-Service Distribution shall provide notice requesting the distribution to the
Plan on such forms as the Plan Administrator requires.  Distribution shall be made as soon as
practicable after receipt of the distribution request.”

 

 

3.                                       Except as provided above, the Plan is hereby
ratified and confirmed in all respects.

 

IN WITNESS WHEREOF, the Employer has caused this Twelfth Amendment to
be executed this 12th day of December, 2008.

 

	
   

  	
  MERIT MEDICAL SYSTEMS, INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Rashelle Perry

  
	
   

  	
  Name:

  	
  Rashelle Perry

  
	
   

  	
  Its:

  	
  Chief Legal Officer

  
					

 

2Exhibit
10.15

 

STOCK
UNIT AGREEMENT

 

THIS STOCK UNIT
AGREEMENT (this “Agreement”) is made as of November 7,
2008, by and between GP STRATEGIES CORPORATION, a Delaware corporation (“GPS”),
and [NAME] (“Recipient”).

 

A.   Recipient is an employee,
officer or director of GPS or an entity that is directly or indirectly
controlled by GPS (“Controlled Entity”); and

 

B.   GPS is offering this Agreement
to motivate Recipient by providing the opportunity to acquire an equity
interest in GPS and to align the Recipient’s interests with the long-term
interests of GPS’ stockholders.

 

C.   Capitalized terms in this
Agreement that are not defined herein shall have the meanings ascribed to them
in the GPS 2003 Incentive Stock Plan (the “Plan”).

 

Section 1. Stock Unit Grant.  GPS hereby grants to Recipient
[NUMBER] Stock Units of GPS common stock (“Stock”) pursuant to the Plan as
provided for in the following Grant Schedule:

 

GRANT
SCHEDULE

 

	
  Number of Stock Units

  	
   

  	
  Issue Date

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  

 

Section 2. Delivery of Shares.  If Recipient is (a) continuously
an employee, officer or director of GPS or a Controlled Entity, from the date
hereof to the Issue Date specified in the Grant Schedule for a Stock Unit and (b) in
full compliance on such Issue Date with any contractual and/or legal
obligations then owed by Recipient to GPS or any Controlled Entity, then, as
soon as practicable after such Issue Date, Recipient shall be issued, or there
shall be electronically deposited in an account belonging to Recipient, one
share of Stock for each Stock Unit with such Issue Date, subject to the terms
and conditions of the Plan, this Agreement, and any other agreement (an “Other
Agreement”) between the Recipient and GPS or a Controlled Entity, as the same
may be amended from time to time in the future.

 

Section 3. Restrictions.  No Stock will be delivered to Recipient
or transferred into the Recipient’s name pursuant to this Agreement except as
provided in Section 2.  Notwithstanding any other provisions of the
Plan, this Agreement, or any Other agreement, the issuance or delivery of any
shares of Stock may be postponed for such period as may be required to comply
with applicable requirements of any national securities exchange or any
requirements under any law or regulation applicable to the issuance or delivery
of such shares, and GPS shall not be obligated to issue or deliver any shares
of Stock if the issuance or delivery hereof shall constitute a violation of any
provision of any law or of any regulation of any governmental authority or national
securities exchange.

 

Section 4. Binding Effect.  This Agreement shall be binding upon
and inure to the benefit 

 

 

of any successor to GPS and all persons lawfully claiming under the
Recipient.

 

Section 5. Entire Agreement.  This Agreement may not be modified
or superseded except by means of a writing signed by an authorized
representative of GPS and by Recipient that specifically states that is the
intention of both GPS and Recipient that such writing supersede or modify this
Agreement.

 

Section 6. Conflicts. In the case of any conflict between the
provisions of this Agreement or any Other Agreement and the provisions of the
Plan, the provisions of the Plan shall govern. In the case of any conflict
between the provisions of this Agreement and the provisions of any Other
Agreement, the provisions of the Other Agreement shall govern. The Recipient
acknowledges receiving a copy of the Plan.

 

This Agreement is executed on behalf of GP
STRATEGIES CORPORATION:

 

 

 

	
   

  	
   

  
	
   

  	
  Scott N. Greenberg

  
	
   

  	
  Chief Executive Officer

  

 

Recipient
agrees that his/her acceptance of the Stock Units constitutes Recipient’s
acknowledgement that he/she has carefully read this Agreement and the
prospectus for the Plan and agrees to be bound by all of the provisions set
forth in these documents.

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