Document:

exv10w10wf

Exhibit 10.10 (f)

Sixth Amendment to the

Sterling Chemicals, Inc.

Amended and Restated Salaried Employees’ Pension Plan

          Whereas, Sterling Chemicals, Inc. (the “Corporation”)
currently
maintains its Amended and Restated Salaried Employees’ Pension Plan (as amended, the “Existing
Plan”);

          Whereas, pursuant to Section 16.1 of the Existing Plan, the Corporation has the
right
to amend the Existing Plan in certain respects; and

          Whereas, the Corporation desires to amend the Existing Plan, effective as of
December
31, 2009, to comply with certain provisions of the Pension Protection Act of 2006, The Heroes
Earnings Assistance and Relief Tax Act of 2008 and The Worker, Retiree, and Employer Recovery Act
of 2008 in order to ensure the qualification of the Existing Plan; and the Corporation, as plan
sponsor, desires to, and hereby elects to, modify the Existing Plan as provided in this Sixth
Amendment to Amended and Restated Salaried Employees’ Pension Plan (this “Amendment”);

          Now, Therefore, the Existing Plan is hereby amended as follows:

          Section 1. Amendment of Section 1.1 of the Existing Plan. Section 1.1 of the Existing
Plan is hereby amended by amending the definition of “Actuarial Equivalent” contained therein by
adding two new sentences at the end thereof to read in their entirety as follows:

Notwithstanding the foregoing, effective for Plan Years beginning December 1, 2008 or
after, for determining the value of single sum distributions, the Applicable Interest
Rate shall be determined as set forth in Notice 2007-81, Rev. Rule 2007-67 and/or other
subsequent guidance issued under the requirements of the Pension Protection Act of 2006
(as amended, the “PPA”). Notwithstanding the foregoing, effective for Plan Years
beginning December 1, 2008 or after, the Applicable Mortality Table for determining the
value of lump sum distributions shall be determined as set forth in Rev. Rul. 2007-67
and/or other subsequent guidance issued under the requirements of the PPA.

     Section 2. Amendment of Section 1.1 of the Existing Plan. Section 1.1 of the Existing
Plan is hereby amended by amending the definition of “Beneficiary” by adding a new sentence at the
end thereof to read in its entirety as follows:

Notwithstanding the foregoing, effective for Plan Years beginning December 1, 2008 a
Participant’s Beneficiary shall also mean a trust within the meaning of Code Section
401(a)(9)(E).

 

 

          Section 3. Amendment of Section 9.4 of the Existing Plan. Section 9.4 of the Existing
Plan is hereby amended by adding a new sentence at the end thereof to read in its entirety as
follows:

For written explanations given in Plan Years beginning after December 31, 2006, such
explanation shall also include, (1) a description of how much larger benefits will be if
the commencement of distributions is deferred, and (2) the relative values of the
various optional forms of benefit under the plan as provided in Treas. Reg Section.
1.417(a)-3.

          Section 4. Amendment of Section 9.4 of the Existing Plan. Section 9.4 of the Existing
Plan is hereby amended by adding a new sentence at the end thereof to read in its entirety as
follows:

Notwithstanding the foregoing, for any distribution notice issued in Plan Years
beginning after December 31, 2006, any reference to the 90-day maximum notice period
requirements shall be deemed to be a reference to a 180-day maximum notice.

          Section 5. Amendment of Section 9.5 of the Existing Plan. Section 9.5 of the Existing
Plan is hereby amended by adding a new sentence at the end thereof to read in its entirety as
follows:

Notwithstanding the foregoing, for any distribution notice issued in Plan Years
beginning after December 31, 2006, any reference to the 90-day maximum notice period
requirements shall be deemed to be a reference to a 180-day maximum notice.

          Section 6. Amendment of Section 11.6(a) of the Existing Plan. Section 11.6 (a) of the
Existing Plan is hereby amended by adding a new sentence at the end thereof to read in its entirety
as follows:

Effective with respect to distributions made on and after January 1, 2008, an “eligible
retirement plan” shall include a Roth IRA described in Section 408A of the Code.

          Section 7. Amendment of Section 16.1 of the Existing Plan. Section 16.1 of the
Existing Plan is hereby amended by adding a new sentence at the end thereof to read in its entirety
as follows:

No such amendment which has the effect of increasing Plan liabilities by reason of
increases in benefits, establishment of new benefits, changing the rate of benefit
accrual, or changing the rate at which benefits become nonforfeitable may take effect
during any Plan Year if the Plan’s AFTAP for such Plan Year is less than 80% (or

-2-

 

would
be less than 80% taking into account such amendment); provided that (a) this Section
16.1 shall cease to apply to any Plan Year, effective as of the first day of such Plan
Year, upon payment by the Employer of a contribution (in addition to any minimum
required contribution under Code Section 430) equal to the amount of the increase in the
Plan’s funding target under Code Section 430 for the Plan Year attributable to the
amendment (or sufficient to result in an AFTAP of 80%), and (b) this sentence shall not
apply to any amendment which provides for an increase in benefits under a formula which
is not based on a Participant’s compensation, but only if the rate of such increase is
not in excess of the contemporaneous rate of increase in average wages of Participants
covered by the amendment. For purposes of the Plan, “AFTAP” shall mean the Plan’s
adjusted funding target attainment percentage determined under Code Section 436 or any
successor thereto.

          Section 8. Amendment of Section 17.10 of the Existing Plan. Section 17.10 of the
Existing Plan is hereby amended by adding three new sentences at the end thereof to read in their
entirety as follows:

Effective January 1, 2007, to the extent provided under Code Section 401(a)(37), in the
case of a Participant whose employment is interrupted by qualified military service and
who dies while performing qualified military service, the survivor of such Participant
shall be entitled to any additional benefit provided under the Plan as if the
Participant timely resumed employment in accordance with the Uniformed Services
Employment and Reemployment Rights Act and then, on the next day, terminated employment
on account of death. For years beginning after December 31, 2008, an individual on a
qualified military leave who is receiving differential wage payments (as defined by Code
Section 3401(h)(2)) from the Employer, shall be treated as an Employee of the Employer.
Such differential wage payment shall be treated as Compensation and the Plan shall not
be treated as failing to meet the requirements of any provision described in Code
Section 414(u)(1)(c) by reason of any contribution or benefit which is based on the
differential wage payment. Notwithstanding any provision of this Section 17.10 to the
contrary, if the inclusion of differential wage payments in a Participant’s Compensation
reduces a Participant’s Accrued Benefit under the Plan such differential wage payments
shall be ignored for determining the Participant’s Accrued Benefit.

          Section 9. Effect of Amendments. Except as amended and modified by this Amendment,
the Existing Plan shall continue in full force and effect. The Existing Plan and this Amendment
shall be read, taken and construed as one and the same instrument. This Amendment shall supersede
any provisions of the Existing Plan to the extent those provisions are inconsistent with the
provisions of this Amendment. Upon the effectiveness of this Amendment, each reference in the
Existing Plan to “this Plan” or “the Plan” shall mean and be a reference to the Existing Plan as
amended hereby.

          Section 10. Binding Effect. This Amendment shall inure to the benefit of, and shall
be binding upon the Employer (as defined in the Existing Plan) and its successors and assigns
and upon the participants in the Existing Plan and their respective heirs, executors, personal
representatives, administrators, successors and assigns.

-3-

 

          Section 11. Severability. Should any clause, sentence, paragraph, subsection or
Section of this Amendment be judicially declared to be invalid, unenforceable or void, such
decision will not have the effect of invalidating or voiding the remainder of this Amendment, and
the part or parts of this Amendment so held to be invalid, unenforceable or void will be deemed to
have been stricken herefrom as if such stricken part or parts had never been included herein.

          Section 12. Governing Law. To The Extent Not Superseded By The Laws Of The
United
States, This Amendment Shall Be Construed and Enforced in Accordance With, and
the Rights of the Parties Shall Be Governed By, the Internal Laws of the State of Texas, Without
Reference to Principles of Conflicts of Law. 

          In Witness Whereof, the Corporation has caused this Amendment to be duly executed in
its name and on its behalf by its proper officer thereunto duly authorized effective as of December
31, 2009.

	 	 	 	 	 
	 

	 	Sterling Chemicals, Inc.	 	 
	 
	 	 	 	 
	 
	 	 	 	 
	 

	 	 

Kenneth M. Hale, Senior Vice-President and
	 	 
	 

	 	General Counsel	 	 

-4-exv10w13wc

Exhibit 10.13(c)

Third Amendment to the

Sterling Chemicals, Inc.

Amended and Restated Hourly Employees’ Pension Plan

          Whereas, Sterling Chemicals, Inc. (the “Corporation”)
currently
maintains its Amended and Restated Hourly Employees’ Pension Plan (as amended, the “Existing
Plan”);

          Whereas, pursuant to Section 16.1 of the Existing Plan, the Corporation has the
right
to amend the Existing Plan in certain respects; and

          Whereas, the Corporation desires to amend the Existing Plan, effective as of
December
31, 2009, to comply with certain provisions of the Pension Protection Act of 2006, The Heroes
Earnings Assistance and Relief Tax Act of 2008 and The Worker, Retiree, and Employer Recovery Act
of 2008 in order to ensure the qualification of the Existing Plan; and the Corporation, as plan
sponsor, desires to, and hereby elects to, modify the Existing Plan as provided in this Third
Amendment to Amended and Restated Hourly Employees’ Pension Plan (this “Amendment”);

          Now, Therefore, the Existing Plan is hereby amended as follows:

          Section 1. Amendment of Section 1.1 of the Existing Plan. Section 1.1 of the Existing
Plan is hereby amended by amending the definition of “Actuarial Equivalent” contained therein by
adding two new sentences at the end thereof to read in their entirety as follows:

Notwithstanding the foregoing, effective for Plan Years beginning December 1, 2008 or
after, for determining the value of single sum distributions, the Applicable Interest
Rate shall be determined as set forth in Notice 2007-81, Rev. Rule 2007-67 and/or other
subsequent guidance issued under the requirements of the Pension Protection Act of 2006
(as amended, the “PPA”). Notwithstanding the foregoing, effective for Plan Years
beginning December 1, 2008 or after, the Applicable Mortality Table for determining the
value of lump sum distributions shall be determined as set forth in Rev. Rul. 2007-67
and/or other subsequent guidance issued under the requirements of the PPA.

          Section 2. Amendment of Section 1.1 of the Existing Plan. Section 1.1 of the Existing
Plan is hereby amended by amending the definition of “Beneficiary” by adding a new sentence at the
end thereof to read in its entirety as follows:

Notwithstanding the foregoing, effective for Plan Years beginning December 1, 2008 a
Participant’s Beneficiary shall also mean a trust within the meaning of Code Section
401(a)(9)(E).

 

 

          Section 3. Amendment of Section 9.4 of the Existing Plan. Section 9.4 of the Existing
Plan is hereby amended by adding a new sentence at the end thereof to read in its entirety as
follows:

Notwithstanding the foregoing, for any distribution notice issued in Plan Years
beginning after December 31, 2006, any reference to the 90-day maximum notice period
requirements shall be deemed to be a reference to a 180-day maximum notice.

          Section 4. Amendment of Section 9.5 of the Existing Plan. Section 9.5 of the Existing
Plan is hereby amended by adding a new sentence at the end thereof to read in its entirety as
follows:

Notwithstanding the foregoing, for any distribution notice issued in Plan Years
beginning after December 31, 2006, any reference to the 90-day maximum notice period
requirements shall be deemed to be a reference to a 180-day maximum notice.

          Section 5. Amendment of Section 11.6(a) of the Existing Plan. Section 11.6(a) of the
Existing Plan is hereby amended by adding a new sentence at the end thereof to read in its entirety
as follows:

Effective with respect to distributions made on and after January 1, 2008, an “eligible
retirement plan” shall include a Roth IRA described in Section 408A of the Code.

          Section 6. Amendment of Article 11 of the Existing Plan. Article 11 of the Existing
Plan is hereby amended by adding a new Section 11.10 thereto to read in its entirety as follows:

11.10 Limitations based on funded status

Effective January 1, 2010 (or such other later date permitted by rule or regulation),
notwithstanding any other provision of the Plan to the contrary, the following limitations
shall apply:

	 	(a)	 	Funding Percentage Less Than 60 Percent. In any case in which the Plan’s AFTAP
for a Plan Year is less than 60%, the Plan shall not make any Prohibited Payment with an
Annuity Starting Date on or after the Applicable Section 436 Measurement Date.
	 
	 	(b)	 	Bankruptcy. The Plan shall not make any Prohibited Payment with an Annuity
Starting Date during any period in which the plan sponsor is a debtor in a case under
title 11 of the United States Code or any similar Federal or state law, provided that
this Section 11.10(b) shall not apply on or after the date on which an enrolled actuary
certifies that the Plan’s AFTAP is not less than 100%.

-2-

 

	 	(c)	 	Funding Percentage Between 60 and 80 Percent. In any case in which the Plan’s
AFTAP for a Plan Year is at least 60% but less than 80%, the Plan shall not make any
Prohibited Payment with an Annuity Starting Date after the Applicable Section 436
Measurement Date to the extent the amount of such payment exceeds the lesser of:

	 	(i)	 	50% of the amount of the payment that could be made without regard to this
Section 11.10; or
	 
	 	(ii)	 	the present value of the maximum guarantee with respect to the Participant
under ERISA Section 4022 (determined under guidance prescribed by the Pension
Benefit Guaranty Corporation using the Applicable Interest Rate and Applicable
Mortality Table);

	 	 	 	provided that only one Prohibited Payment meeting the requirements of this Section
11.10(c) may be made with respect to any Participant during any period of
consecutive Plan Years to which a limitation under Section 11.10(a), Section
11.10(b), or this Section 11.10(c) applies. For purposes of this Section
11.10(c), a Participant and his Beneficiary (or alternate payee under a Qualified
Domestic Relations Order) shall be treated as one Participant in accordance with
Code Section 436(d)(3)(B)(ii) and regulations thereunder.
	 
	 	(d)	 	Definitions. The following definitions shall apply for purposes of the
Plan:

	 	(i)	 	“AFTAP” shall mean the Plan’s adjusted funding target attainment percentage
determined under Code Section 436(j)(2).
	 
	 	(ii)	 	“Applicable Section 436 Measurement Date” shall mean the applicable Section
436 measurement date within the meaning of proposed regulations under Code Section
436 or any successor thereto.
	 
	 	(iii)	 	“Prohibited Payment” shall mean:

	 	(A)	 	any payment in excess of the monthly amount paid under a single
life annuity to a Participant or Beneficiary whose Annuity Starting Date
occurs during any period in which a limitation described in Section 11.10(a)
or (b) is in effect;
	 
	 	(B)	 	any payment for the purchase of an irrevocable commitment from an
insurer to pay benefits; or
	 
	 	(C)	 	any other payment specified under applicable Treasury regulations
issued under Code Section 436;

	 	 	 	provided however, the term “Prohibited Payment” shall not include any benefit
which under Code Section 411(a)(11) may be immediately distributed without the
consent of the Participant.

-3-

 

	 	(e)	 	Applicable Rules. This Section 11.10 shall be applied in accordance with Code
Section 436 and regulations promulgated thereunder.

          Section 7. Amendment of Section 16.1 of the Existing Plan. Section 16.1 of the
Existing Plan is hereby amended by adding a new sentence at the end thereof to read in its entirety
as follows:

No such amendment which has the effect of increasing Plan liabilities by reason of
increases in benefits, establishment of new benefits, changing the rate of benefit
accrual, or changing the rate at which benefits become nonforfeitable may take effect
during any Plan Year if the Plan’s AFTAP for such Plan Year is less than 80% (or would
be less than 80% taking into account such amendment); provided that (a) this Section
16.1 shall cease to apply to any Plan Year, effective as of the first day of such Plan
Year, upon payment by the Employer of a contribution (in addition to any minimum
required contribution under Code Section 430) equal to the amount of the increase in the
Plan’s funding target under Code Section 430 for the Plan Year attributable to the
amendment (or sufficient to result in an AFTAP of 80%), and (b) this sentence shall not
apply to any amendment which provides for an increase in benefits under a formula which
is not based on a Participant’s compensation, but only if the rate of such increase is
not in excess of the contemporaneous rate of increase in average wages of Participants
covered by the amendment.

          Section 8. Amendment of Section 17.9 of the Existing Plan. Section 17.9 of the
Existing Plan is hereby amended by adding three new sentences at the end thereof to read in their
entirety as follows:

Effective January 1, 2007, to the extent provided under Code Section 401(a)(37), in the
case of a Participant whose employment is interrupted by qualified military service and
who dies while performing qualified military service, the survivor of such Participant
shall be entitled to any additional benefit provided under the Plan as if the
Participant timely resumed employment in accordance with the Uniformed Services
Employment and Reemployment Rights Act and then, on the next day, terminated employment
on account of death. For years beginning after December 31, 2008, an individual on a
qualified military leave who is receiving differential wage payments (as defined by Code
Section 3401(h)(2)) from the Employer, shall be treated as an Employee of the Employer.
Such differential wage payment shall be treated as Compensation and the Plan shall not
be treated as failing to meet the requirements of any provision described in Code
Section 414(u)(1)(c) by reason of any contribution or benefit which is based on the
differential wage payment. Notwithstanding any provision of this Section 17.9 to the
contrary, if the inclusion of differential wage payments in a Participant’s Compensation
reduces a Participant’s Accrued Benefit
under the Plan such differential wage payments shall be ignored for determining the
Participant’s Accrued Benefit.

          Section 9. Effect of Amendments. Except as amended and modified by this Amendment,
the Existing Plan shall continue in full force and effect. The Existing Plan and this

-4-

 

Amendment
shall be read, taken and construed as one and the same instrument. This Amendment shall supersede
any provisions of the Existing Plan to the extent those provisions are inconsistent with the
provisions of this Amendment. Upon the effectiveness of this Amendment, each reference in the
Existing Plan to “this Plan” or “the Plan” shall mean and be a reference to the Existing Plan as
amended hereby.

          Section 10. Binding Effect. This Amendment shall inure to the benefit of, and shall
be binding upon the Employer (as defined in the Existing Plan) and its successors and assigns and
upon the participants in the Existing Plan and their respective heirs, executors, personal
representatives, administrators, successors and assigns.

          Section 11. Severability. Should any clause, sentence, paragraph, subsection or
Section of this Amendment be judicially declared to be invalid, unenforceable or void, such
decision will not have the effect of invalidating or voiding the remainder of this Amendment, and
the part or parts of this Amendment so held to be invalid, unenforceable or void will be deemed to
have been stricken herefrom as if such stricken part or parts had never been included herein.

          Section 12. Governing Law. To The Extent Not Superseded By The Laws Of The
United
States, This Amendment Shall Be Construed and Enforced in Accordance With, and
the Rights of the Parties Shall Be Governed By, the Internal Laws of the State of Texas, Without
Reference to Principles of Conflicts of Law. 

          In Witness Whereof, the Corporation has caused this Amendment to be duly executed in
its name and on its behalf by its proper officer thereunto duly authorized effective as of December
31, 2009.

	 	 	 	 	 
	 

	 	Sterling Chemicals, Inc.	 	 
	 
	 	 	 	 
	 
	 	 	 	 
	 

	 	 

Kenneth M. Hale, Senior Vice-President and
	 	 
	 

	 	General Counsel	 	 

-5-

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00170-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00170-of-00352.parquet"}]]