Document:

ex4_7.htm

    
       

       

       

       

       

       

       

       

      EXHIBIT 4.7

       

       

       

       

       

       

       

       

      
        
          
             

          

          
             

            
              

            

          

          
             

          

        

      

       

    

    Exhibit
4.7

     

     

    

    INSTRUMENT
OF

    AMENDMENT
TO THE

    MDU
RESOURCES GROUP, INC.

    401(k)
RETIREMENT PLAN

    

    

    The MDU
Resources Group, Inc. 401(k) Retirement Plan (as amended and restated effective
December 1, 2006) (the “Plan”), is hereby amended as follows:

    

     

    
      	
              1.

            	
              Effective as
      of January 1, 2007, by replacing the definition of “Eligible Employee”
      under Article I of the Plan, in its entirety, with the
      following:

            

    

    

    Eligible Employee -
An “Eligible Employee” means each regular full-time Employee or a part-time
Employee scheduled to work at least 1,000 hours a year who is at least 18 years
of age and who is actively employed by the Employer in other than a temporary or
occasional position as defined by the payroll practices of the Employer;
provided, however, that a temporary, occasional, or part-time Employee scheduled
to work less than 1,000 hours a year who completes more than 1,000 hours of
service within a twelve-month period beginning on their employment date or in
any subsequent Plan Year, shall be an Eligible
Employee.  Notwithstanding the foregoing, an Employee of an Employer
shall not be an Eligible Employee during any time when such Employee is 1)
eligible to participate in a retirement plan which is a multi-employer plan as
defined in Section 3(37) of ERISA to which the Employer contributes, or 2)
covered by a collectively bargained unit which has not bargained for the Plan
for such Employee.”

    

    Explanation:  This
amendment clarifies that part time employees are eligible to participate in the
plan if they are scheduled to work at least 1,000 hours a year (i.e., those
part-time employees referred to as “Code 4” employees in MDU Resources Group,
Inc. CORP Policy No. 154.3). If a part-time employee is scheduled to complete
less than 1,000 hours a year, they are eligible to participate in the plan if
they, in fact, complete 1,000 hours of service in their first 12 months of
employment or in any subsequent plan year.

    

    

    
      	
              2.

            	
              Effective as
      of January 1, 2006, by adding the following paragraph to the end of
      Section 3.5(g) of the Plan:

            

    

    

     

    
      	
              3.5  

            	
              Special Limitations on
      Savings Contributions –

            

    

    
      
         

      

      
        1

        
          

        

      

      
         

      

    

    Savings
contributions exceeding the limits of this paragraph (g) shall mean the amount
of savings contributions (as defined in Section 3.1) for a calendar year that
the Participant designates to the Plan pursuant to the following procedure. The
Participant’s designation shall (1) be submitted to the administrator in writing
no later than March 1, (2) specify the Participant’s savings contributions
exceeding the limits of this paragraph (g) for the preceding calendar year, and
(3) be accompanied by the Participant’s written statement that if such excess
savings contribution is not distributed, it will, when added to amounts deferred
under other plans or arrangements described in Section 401(k), 408(k), or 403(b)
of the Code, exceed the limit imposed on the Participant by Section 402(g) of
the Code for the year in which the deferral occurred. Savings contributions
exceeding the limits of this paragraph (g) shall mean those savings
contributions that are includible in a Participant's gross income under Section
402(g) of the Code to the extent such Participant's savings contributions for a
taxable year exceed the dollar limitation under such Code
section.  Such excess savings contributions, and the income or loss
allocable thereto, may be distributed before the end of the calendar year in
which the savings contributions were made.  A Participant who has such
excess savings contributions for a taxable year, taking into account only such
savings contributions under the Plan or any other plans of the Employer
(including any member of the Employer’s related group), shall be deemed to have
designated the entire amount of such excess savings contributions.

     

    

    Explanation:  This
amends the plan to comply with the final regulations under Section 401(k) and
401(m) of the Internal Revenue Code.

    

    

    
      	
              3.

            	
              Effective as
      of December 31, 2006, by replacing Section 4.6(b)(ii) of the Plan, in its
      entirety, with the following:

            

    

    

    
      	
              4.6  

            	
              Timing of
      Distributions –

            

    

    

    (b)           When Distributions Must
Commence.

    

    
      
        	
                 
      

              	
                (ii)

              	
                Accounts in Excess of
      $1,000. If a Participant incurs a distribution event described in
      Section 4.3(a)(i)-(iv), payment of a Participant's Accounts shall commence
      not later than the 60th day after the end of the calendar year in which
      the latest of the following events occurs:

              
	 	 	 

      

    

    

    
      
        	 	
                 
      

              	
                (A)

              	
                the
      Participant attains age 62;

              

      

    

    

    
      
         

      

      
        2

        
          

        

      

      
         

      

    

    
      
        	
                 
      

              	
                (B)

              	
                the tenth
      anniversary of the year in which the Participant commenced participation
      in the Plan occurs; or

              
	 	 	 
	 	(C) 	      
                the
      Participant terminates employment with the Company and all
      Affiliates;

              

      

    

     

    
    

     

    
      	 	      
              provided,
      however, that the Participant may elect to defer distribution of the
      Accounts (by not requesting a distribution) until attainment of age
      70-1⁄2.  As a result, if the Participant's Account (excluding the
      balance in the Participant’s Rollover Account and any loan offset amount)
      exceeds $1,000, a distribution will not be made to the Participant before
      attainment of age 70-1⁄2 without consent. Upon a Participant's attainment of
      age 70-1⁄2, distribution of the Account shall commence as soon as
      practicable after such amounts are ascertained.  If a
      Participant dies before age 70-1⁄2 and the Participant's surviving spouse is
      the beneficiary, the surviving spouse may elect to defer distribution of
      the Participant's Account until the Participant would have attained age
      70-1⁄2.

            

    

     

    

    Explanation:  This
amendment changes the mandatory distribution age in the Plan from 65 to
70-1⁄2.

    

    

    
      	
              4.

            	
              Effective as
      of January 1, 2007, by replacing the final paragraph of Paragraph 2 of
      Supplement D-35, Provisions Relating to
      the MDU Resources Group, Inc. Special Contribution Feature, of the
      Plan, in its entirety, with the
following:

            

    

    

    
      	
              2.  

            	
              Eligibility Share in
      the Special Contribution.

            

    

    

    In order to share in the allocation of the
Special Contribution for any Plan Year, Eligible Employees described above must
complete 1,000 Hours of Service in that Plan Year; provided, however, that if
the Participant's failure to complete 1,000 Hours of Service in the Plan Year is
due to the Participant's Disability, Death, or Retirement on or after Normal
Retirement Date during such Plan Year, such Participant shall nevertheless be
entitled to share in the allocation of the Special Contribution for such Plan
Year. Individuals who satisfy the preceding requirements for the Special
Contribution are referred to herein as “Supplement D-35
Participants.”

     

    
      
         

      

      
        3

        
          

        

      

      
         

      

    

    Explanation:  This
amendment clarifies that eligible participants must complete 1,000 hours of
service to share in the special contribution for any plan
year.

    

    

    
      	
              5.

            	
              Effective as
      of December 1, 2006, by adding the following new Supplement H-11 to the
      Plan:

            

    

    

     

    Supplement
H-11

     

    Provisions Relating to the
Merger of the

    Granite City Ready Mix
401(k) Plan for Union Employees

     

    

    
      	
               
      

            	
              H-11-1.

            	
              Introduction.  Effective
      as of December 1, 2006 (the “Merger Date”), the Granite City Ready Mix
      401(k) Plan for Union Employees (the “Granite City Plan”) will merge into
      the Plan.

            

    

    

    
      	
               
      

            	
              H-11-2.

            	
              Merger. The
      merger of the Granite City Plan into the Plan and the resulting transfer
      of assets described above was designed to comply with Sections 401(a)(12),
      411(d)(6), and 414(l) of the Internal Revenue Code and the regulations
      thereunder. The purpose of this Supplement H-11 is to reflect the merger
      and to set forth special provisions which shall apply with respect to
      Participants who had a portion of their Accounts transferred from the
      Granite City Plan in connection with the merger of such plan (“Supplement
      H-11 Participants”).

            

    

    

    
      	
               
      

            	
              H-11-3.

            	
              Transfer of
      Assets. The assets of the Granite City Ready Mix 401(k) Plan for
      Union Employees trust, which trust serves as a funding vehicle for the
      Granite City Plan, shall be transferred to the trustee of the trust that
      serves as a funding vehicle for the Plan on or as soon as practicable
      after the Merger Date.

            

    

    

    
      	
               
      

            	
              H-11-4.

            	
              Transfer of Account
      Balances. As soon as practicable after the Merger Date, assets and
      liabilities equal to the aggregate, adjusted account balances of each
      Supplement H-11 Participant who had an account balance under the Granite
      City Plan will be transferred to the Plan from the Granite City Plan and
      credited to corresponding accounts established for each such Supplement
      H-11 Participant (“Account
Balances”).

            

    

    

    
      	
               
      

            	
              H-11-5.

            	
              Participation.
      Each Supplement H-11 Participant shall become a Participant in the Plan on
      the Merger Date (if not

            

    

    
      
         

      

      
        4

        
          

        

      

      
         

      

    

    already a
Participant), and shall continue as a Participant in the Plan until all of the
Participant’s vested account balances are distributed, subject to the terms and
conditions of the Plan and this Supplement H-11.

    

    
      	
               
      

            	
              H-11-6.

            	
              Vesting. Each
      Supplement H-11 Participant shall be fully vested in the amounts
      transferred from the Granite City Plan in connection with the merger of
      such plan, with the balance of each such Participant’s account being
      vested in accordance with the provisions of Section 4.2 of the Plan.
      Notwithstanding Section 4.2 of the Plan, however, each Supplement H-11
      Participant shall become fully vested in his or her entire account balance
      under the Plan upon attainment of age fifty-five
  (55).

            

    

    

    
      	
               
      

            	
              H-11-7.

            	
              Hardship
      Withdrawals. Any Supplement H-11 Participant that requests and is
      approved for a hardship withdrawal pursuant to Section 4.5(a) of the Plan
      will have included in the available amount any such amounts transferred
      from the Granite City Plan in connection with the merger of such plan,
      excluding all earnings derived from any 401(k) contributions credited to
      such account.

            

    

    

    
      	
               
      

            	
              H-11-8.

            	
              Use of Terms.
      The terms used in this Supplement H-11 shall, unless defined in this
      Supplement H-11 or otherwise noted, have the meanings given to those terms
      in the Plan.

            

    

    

    
      	
               
      

            	
              H-11-9.

            	
              Inconsistencies with
      the Plan. The terms of this Supplement H-11 are a part of the Plan
      and supersede the provisions of the Plan to the extent necessary to
      eliminate inconsistencies between the Plan and this Supplement
      H-11.

            

    

    

     

    IN WITNESS WHEREOF,
MDU Resources Group, Inc., as Sponsoring Employer of the Plan, has caused this
Instrument of Amendment to be duly executed by a member of the MDU Resources
Group, Inc. Employee Benefits Administrative Committee on this 28th day of
December, 2006.

     

                                     

    

    
      
        
          
            
              
                
                  	
                          MDU RESOURCES
      GROUP, INC.

                          EMPLOYEE
      BENEFITS

                          ADMINISTRATIVE
      COMMITTEE 

                        
	
                          By: /s/ Cindy C.
      Redding_____________

                        
	     
      Cindy C. Redding,
Chairman

                

              

            

          

        

      

    

    
      
      

    

     

     

    5ex4_8.htm

    
       

       

       

       

       

       

       

       

      EXHIBIT 4.8

       

       

       

       

       

       

       

       

      
        
          
             

          

          
             

            
              

            

          

          
             

          

        

      

       

    

    Exhibit
4.8

     

    

    INSTRUMENT
OF

    AMENDMENT
TO THE

    MDU
RESOURCES GROUP, INC.

    401(k)
RETIREMENT PLAN

     

    
      Effective January
1, 2007, the MDU Resources Group, Inc. 401(k) Retirement Plan, as amended and
restated December 31, 2006, (the “Plan”), is hereby further amended by adding a
new Supplement D-11 to the Plan, as follows:

       

    

    Supplement
D-11 to the Plan Document

     

    Provisions
Relating to the

    Young
Contractors, Inc.

    Profit
Sharing Feature

    

    
      	
               
      

            	
              1.

            	
              Introduction.  Effective
      January 1, 2007, Young Contractors, Inc. (“YCI”), a Participating
      Affiliate in the Plan, has established the profit sharing feature
      described in this Supplement.  The profit sharing feature shall
      be effective as of January 1, 2007, and shall be in addition to the
      Matching Contributions provided by YCI pursuant to the
    Plan.

            

    

    

    
      	
               
      

            	
              2.

            	
              Eligibility to Share
      in Profit Sharing Contribution.  In order to share in the
      allocation of any profit sharing contribution made by YCI pursuant to
      Paragraph 3 below for a given Plan Year, Participants employed by YCI must
      complete 1,000 Hours of Service in that Plan Year and be an Active
      Employee of YCI on the last day of the Plan Year.  However, any
      Eligible Employee who transfers to Knife River Corporation or any of its
      operating companies during the Plan Year and is employed by that company
      on the last day of the Plan Year will be eligible to receive a pro-rated
      profit sharing contribution for the portion of the Plan Year during which
      the Participant was employed by YCI so long as the Eligible Employee has
      completed 1,000 Hours of Service cumulatively during the Plan
      Year.  Participants who meet the preceding requirement are
      referred to herein as “Supplement D-11
  Participants.”

            

    

    

    
      	
               
      

            	
              For purposes
      of this Supplement, an “Active Employee” means an employee who is still on
      the payroll or has been temporarily laid off or who terminated employment
      due to Disability, Death, or Retirement on or after Normal Retirement Date
      during such Plan Year, but does not mean an employee whose employment
      otherwise has terminated effective on or before December 31 of that
      Plan Year.

            

    

    

    
      
         

      

      
        1

        
          

        

      

      
         

      

    

    
      	
               
      

            	
              3.

            	
              Amount of Profit
      Sharing Contributions, Allocation.  For each Plan Year,
      the Board of Directors of YCI, in its discretion, shall determine the
      amount (if any) of profit sharing contributions to be made to the Plan
      based upon the profitability of YCI.  The amount of any such
      contribution for a Plan Year shall be allocated to Supplement D-11
      Participants, based upon their Compensation, excluding bonuses, received
      while employed by YCI for that Plan
Year.

            

    

    

    
      	
               
      

            	
              4.

            	
              Vesting.  Notwithstanding
      anything in Section 4.2 to the contrary, Supplement D-11 Participants
      shall be vested in their Profit Sharing Accounts only upon completing
      three (3) Years of Vesting Service as defined
  below.

            

    

    

    A “Year of Vesting
Service” means a Plan Year in which the Supplement D-11 Participant completes at
least 1,000 Hours of Service.  In addition, service with YCI, the
Company and all Affiliates that occurred prior to the effective date of
Supplement D-11 shall be recognized for purposes of this Paragraph, applying
these rules as if YCI (and its affiliates at that time) were Affiliates under
the Plan. Notwithstanding the foregoing, a Participant shall be fully vested in
his or her Profit Sharing Account upon Death, Disability, or attaining age
65.

    

    
      	
               
      

            	
              5.

            	
              Use of
      Terms.  Terms used in this Supplement D-11 shall, unless
      defined in this Supplement D-11 or elsewhere noted, have the meanings
      given to those terms in the Plan.

            

    

    

    
      	
               
      

            	
              6.

            	
              Inconsistencies with
      the Plan.  The terms of this Supplement D-11 are a part
      of the Plan and supersede the provisions of the Plan to the extent
      necessary to eliminate inconsistencies between the Plan and the Supplement
      D-11.

            

    

    

      IN WITNESS WHEREOF,
MDU Resources Group, Inc., as Sponsoring Employer of the Plan, has caused this
Supplement to be duly executed by a member of the MDU Resources Group, Inc.
Employee Benefits Administrative Committee (“EBAC”) on this 2nd day of February,
2007.

      
 

    

    
      
         

        
          
            
              
                
                  
                    
                      	 
    	
                              MDU RESOURCES
      GROUP, INC.

                              EMPLOYEE
      BENEFITS

                              ADMINISTRATIVE COMMITTEE

                            
	 
    	 
    
	 
    	 
    
	 
    	 By: 	
                              /s/ Cindy C. Redding

                            
	 
    	 	
                              Cindy C.
      Redding,
Chairman

                            

                    

                  

                

              

            

          

        

         

        
 

        2

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