Document:

Wdesk | 2015 Q2 Ex 10(a)

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 March 1, 2011) (the “K-Plan”), is hereby further amended, effective July 1, 2015 by adding Supplement D-9, Provisions Relating to the Hawaiian Cement, Maui Concrete and Aggregate Division Retirement Contribution Feature, as follows:
Supplement D-9

Provisions Relating to the
Hawaiian Cement, Maui Concrete and Aggregate Division,
Retirement Contribution Feature

		
	D-9-1
	Introduction. Effective July 1, 2015, Hawaiian Cement (“HC”), a Participating Affiliate in the Plan, hereby establishes the Retirement Contribution Feature as described in this Supplement D-9. This Retirement Contribution shall be in addition to all other contributions provided by HC pursuant to the Plan. 

		
	D-9-2
	Eligibility to Share in the Retirement Contribution. In order to share in the allocation of any Retirement Contribution made by HC pursuant to Paragraph 3 below for a given Plan Year, a Participant must be an Eligible Employee of HC who was an active participant in the Pension Plan for Bargaining Unit Employees of Hawaiian Cement, Maui Concrete and Aggregate Division as of June 30, 2015. Participants who meet the preceding requirements are referred to herein as “Supplement D-9 Participants.” 

		
	D-9-3
	Amount of Retirement Contribution, Allocation. For each Plan Year, Supplement D-9 Participants will be credited with the contributions below for each Hour Worked. Hours Worked shall mean all hours where the employee is on HC property performing bargaining unit work, not to include vacation, sick leave, or other non-worked hours for which the employee may receive compensation from HC.

	
		
	Date
	Rate per Hour Worked

	July 1, 2015 – April 15, 2016
	$3.02

	April 16, 2016 – April 15, 2017
	$3.34

	April 16, 2017 – April 15, 2018
	$3.67

	April 16, 2018 – April 15, 2019
	$4.02

	April 16, 2019 – April 15, 2020
	$4.34

		
	D-9-4
	Vesting. Notwithstanding anything in Section 4.2 to the contrary, Supplement D-9 Participants shall be vested in their Retirement Contribution 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‐9 Participant is credited with at least 1,000 Hours of Service. Service with a Supplement D-9 Company, the Company, and all Affiliates shall be recognized for purposes of this Paragraph, including, but not limited to, service that occurred prior to the effective date of Supplement D-9, applying these rules as if the Supplement D-9 Company (and its affiliates at that time) were Affiliates under the Plan. Notwithstanding the foregoing, a Participant shall be fully vested in his or her Retirement Contribution Account upon death, Disability, or upon attaining age 60. 
		
	D-9-5
	Use of Terms. Terms used in this Supplement D-9 shall, unless defined in this Supplement D-9 or elsewhere noted, have the meanings given to those terms in the Plan.

		
	D-9-6
	Inconsistencies with the Plan. The terms of this Supplement D‐9 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-9.

Explanation: This amendment (1) allows Hawaiian Cement (HC) employees who are active participants in the Pension Plan For Bargaining Unit Employees of Hawaiian Cement, Maui Concrete and Aggregate Division as of June 30, 2015 to receive a Retirement Contribution due to the pension plan freezing accruals and (2) provides past service credit for vesting purposes.

IN WITNESS WHEREOF, MDU Resources Group, Inc., as Sponsoring Employer of the Plan, has caused this amendment to be duly executed by a member of the MDU Resources Group, Inc. Employee Benefits Committee on this 30th day of June, 2015.

	
			
	 
	 

	 
	MDU RESOURCES GROUP, INC. 

	 
	EMPLOYEE BENEFITS COMMITTEE

	 
	 

	 
	By:
	/s/ Doran N. Schwartz

	 
	 
	Doran N. Schwartz, ChairmanWdesk | 2015 Q2 Ex 10(b)

WAIVER AND VOLUNTARY RELEASE

This Separation Agreement and Release (this “Agreement”) is entered into by and between Steven L. Bietz (“Bietz”), and WBI Holdings Inc., a Delaware corporation, including all of its parents, subsidiaries, divisions, affiliates, limited liability companies, partnerships, both foreign and domestic, successors and assigns of (“the Company”), and their directors, officers, and employees (collectively, the “Parties” or a “Party”).

Bietz will retire from his employment with the Company effective as of the close of business July 17, 2015.  In consideration of the mutual promises made herein, the Parties hereby agree as follows:

1.    Employment Relationship.  Bietz hereby retires from all positions, boards, memberships, employment, agreements, and contracts with the Company including, but not limited to his position as President and Chief Executive Officer of the Company effective July 17, 2015.  Any obligations of the Company to Bietz pursuant to contracts or agreements which are not specified herein shall terminate effective at the close of business on July 17, 2015.  Except as otherwise provided in this Agreement, all of Bietz’s benefits, rights, authority and privileges of employment from the Company ended as of the close of business on July 17, 2015.  

2.    Employment Benefits and Management Compensation Programs.  Bietz agrees that his retirement is a “qualifying event” which commences his right for continuance of applicable group health and welfare insurance benefits at his own expense and within the provisions of the Consolidated Omnibus Budget Reconciliation Act (“COBRA”).  Bietz’s specific rights under the Company’s health, welfare, incentive, and other management compensation programs will be governed by the terms of the applicable plan document and will not be impacted, regardless of whether he executes this Agreement.

3.    Consideration.  In consideration for the terms of this Agreement the Company will provide Bietz “severance pay” equal to the sum of $750,000.00.  This payment will be subject to required deductions for federal, state, and/or local tax withholdings; however, this payment includes no contribution by the Company for 401(k) contribution, or any other elected coverage or benefits Bietz had while employed by the Company.  This payment will be paid to Bietz in a lump sum, within fifteen (15) business days after the Company receives a copy of this Agreement signed by him.  Bietz acknowledges that he is not entitled to this payment unless he signs this Agreement, and that the payment is more than the Company is required to provide to him under its regular policies, procedures and practices. 

4.    Acceptance Period.  The terms of this Agreement will be open for acceptance by Bietz for a period of twenty-one (21) calendar days, during which time he may consider whether or not to accept this Agreement.  The Company encourages Bietz to consult with an attorney before signing this Agreement.  Bietz agrees that changes to this Agreement, whether material or immaterial, will not restart this acceptance period.  If the Company does not receive this Agreement, signed by Bietz, by the close of business on August 7, 2015, then this Agreement shall become null and void.

5.    General Release.  In exchange for the consideration specified in Section 3 of this Agreement, Bietz agrees to release the Company, any of its parent or affiliated companies, and the employees, officers, and directors of any of them from any and all claims or demands he may have based on his employment with the Company, including any claims based upon:
		
	•
	Federal, state or local employment discrimination laws or regulations, including but not limited to the North Dakota Human Rights Act; the North Dakota Equal Pay Law; the North Dakota Age Discrimination Law; the North Dakota Whistleblower Law; the North Dakota Wage and Hour Law; the North Dakota Wage Payment Law; the Age Discrimination in Employment Act; the National Labor Relations Act, as amended; Title VII of the Civil Rights Act of 1964, as amended; 

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the Immigration Reform Control Act, as amended; the Americans with Disabilities Act; the Older Workers Benefit Protection Act, as amended; the Sarbanes Oxley Act of 2002, as amended; and the Family Medical and Leave Act of 1993, as amended; 
		
	•
	Any other statute, ordinance, or regulation;

		
	•
	Any contract, quasi-contract or promissory estoppel;

		
	•
	Any tort, including wrongful discharge, constructive discharge, misrepresentation, fraud, infliction of emotional distress, or defamation; or

		
	•
	Any other theory, whether developed or undeveloped. 

Nothing contained in this Agreement shall prohibit Bietz from filing a charge with the Equal Employment Opportunity Commission.  However, Bietz releases his right to file a court action or to seek individual remedies or damages in any Equal Employment Opportunity-filed court action, and his release of these rights shall apply with full force and effect to any proceedings arising from or relating to such a charge.  Bietz further agrees that he will not institute any claim for damages, by charge or otherwise, nor will he authorize any other Party, governmental or otherwise, to institute any claims for damages via administrative or legal proceedings against the Company.  Bietz also waives the right to money damages or other legal or equitable relief awarded by any government agency related to any such claim. 
This release applies both the claims presently known by Bietz as well as claims unknown by him, and Bietz hereby waives his rights under North Dakota Century Code § 9-13-02, which states in relevant part that “A general release does not extend to claims which the creditor does not know or suspect to exist in the creditor’s favor at the time of executing the release, which if known by the creditor, must have materially affected the creditor's settlement with the debtor.”
6.     Right to Rescind and/or Revoke.  Bietz has the right to revoke this Agreement, only insofar as it extends to potential claims under the Age Discrimination in Employment Act, by informing the Company of his intent to revoke this Agreement within seven (7) calendar days following his execution of the same.  Any rescission must be in writing and hand-delivered or sent by certified mail, return receipt to the Company within the seven (7) day period.  If mailed, the revocation must be postmarked within the seven (7) day period.  Bietz agrees that if he exercises his right of rescission or revocation under this Paragraph 6, the Company may, at its discretion, either nullify this Agreement in its entirety or keep it in effect as to all terms not rescinded or revoked in accordance with the rescission or revocation provision of this Agreement.  In the event the Company opts to nullify the entire Agreement, neither Bietz nor the Company will have any rights or obligations whatsoever under this Agreement.

7.    Effective Date.  This Agreement does not become effective until the eighth day after the Company and Bietz sign it, and then only if it has not been nullified by the Company in the event of rescission or revocation under the procedures of Paragraph 6.  

8.    No Admission.  Neither this Agreement nor any action or acts taken in connection with this Agreement or pursuant to it will constitute an admission by either Party of any violation of law or be construed as an admission of any wrongdoing whatsoever.

9.    Confidential, Trade Secret, and Proprietary Information.  Bietz agrees that during his employment, and due to his position as Chief Executive Officer of the Company, he has knowledge and possession of Confidential Information.  “Confidential Information” means information of or about the Company and its parent, sister, or subsidiary corporations, its products, services or customers which is not generally known to others, including trade secret information about the Company’s methods or processes

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and products, and information relating to research, development, manufacture, purchasing, accounting, marketing, merchandising, selling, servicing, customers, finance and business systems and techniques and other confidential information from which the Company may derive economic value, which the Company considers confidential and proprietary.  Bietz agrees that during the course of his employment with the Company, he has received certain notes, records, documentation, and products developed by the Company and which the Company considers confidential and proprietary and which he agrees shall not be revealed to third Parties. Bietz acknowledges that the Company has informed Bietz that his misappropriation of such Confidential Information would be a violation of North Dakota law and may result in his liability for damages, exemplary damages, and attorneys’ fees under the North Dakota Trade Secrets Act.  Bietz agrees that for period of two years from the date of his execution of this Agreement he will not disclose and will take prudent steps to prevent disclosure of Confidential Information that he has acquired or become aware of as an employee of the Company.

10.    Integration.    This Agreement is an integration of the entire understanding and agreement of the Parties with respect to the matters referred to in this Agreement.  Any representation, warranty, promise or condition, whether written or oral, between the Parties with respect to the matters referred to in this Agreement which is not specifically incorporated in this Agreement shall not be binding upon any of the Parties hereto and the Parties acknowledge that they have not relied, in entering into this Agreement, upon any representations, warranties, promises or conditions not specifically stated in this Agreement.  No prior or contemporaneous oral or written understanding, covenant, or agreement between the Parties, with respect to the matters referred to in this Agreement, shall survive the execution of this Agreement.  This Agreement may be modified only by a written agreement executed by both Parties.

11.    Binding Agreement.  The Parties understand and expressly agree that this Agreement shall bind the Parties’ heirs, subsidiaries, affiliates, successors, and assigns.
12.    Governing Law.  This Agreement shall be governed by the laws of the State of North Dakota.  

13.    Construction.  The language of this Agreement shall be construed as to its fair meaning and not strictly for or against either Party.  If any part of this Agreement is construed to be a violation of law, such part shall be modified to achieve the objective of the Parties to the fullest extent permitted and the balance of this Agreement shall remain in full force and effect.  Headings in this Agreement are for convenience only and are not a part of the substance hereof. However, should any court with jurisdiction determine that any provision of this Agreement is invalid, void or unenforceable, the remaining provisions shall remain in full force and effect.

14.    ACKNOWLEDGEMENT.  BIETZ ACKNOWLEDGES THAT HE HAS READ THIS AGREEMENT, THAT HE HAS HAD THE OPPORTUNITY TO CONSULT WITH AN ATTORNEY PRIOR TO SIGNING THIS AGREEMENT, AGREES THAT THE PROVISIONS OF THIS AGREEMENT ARE UNDERSTANDABLE TO HIM, AND THAT HE HAS ENTERED INTO THIS AGREEMENT FREELY AND VOLUNTARILY.

	
				
	7/17/2015
	/s/ Steven L. Bietz

	Dated:__________________
	_____________________________

	 
	 
	 Steven L. Bietz

	 
	 
	 
	 

	 
	 
	WBI HOLDINGS , INC.

	7/17/2015
	/s/ David L. Goodin

	Dated:___________________
	_____________________________

	 
	 
	David L. Goodin,  Chairman of the Board

    

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