Document:

Exhibit
10.10

 

VWR INTERNATIONAL, INC.

RETIREMENT PLAN

(As amended and restated effective January 1, 2001)

 

 

 

	
   

  	
   

  	
   

  	
  Page

  
	
  SECTION 1

  	
  DEFINITIONS

  	
  2

  
	
   

  	
  1.1

  	
  Accrued
  Benefit

  	
  2

  
	
   

  	
  1.2

  	
  Actuarially Equivalent

  	
  2

  
	
   

  	
  1.3

  	
  Annuity Starting Date

  	
  2

  
	
   

  	
  1.4

  	
  Applicable Interest Rate

  	
  2

  
	
   

  	
  1.5

  	
  Applicable Mortality Table

  	
  2

  
	
   

  	
  1.6

  	
  Beneficiary

  	
  2

  
	
   

  	
  1.7

  	
  Code

  	
  2

  
	
   

  	
  1.8

  	
  Credited
  Service

  	
  3

  
	
   

  	
  1.9

  	
  Disabled

  	
  3

  
	
   

  	
  1.10

  	
  Earnings

  	
  3

  
	
   

  	
  1.11

  	
  Eligible
  Employee

  	
  4

  
	
   

  	
  1.12

  	
  Employer

  	
  4

  
	
   

  	
  1.13

  	
  Employment Commencement
  Date

  	
  5

  
	
   

  	
  1.14

  	
  ERISA

  	
  5

  
	
   

  	
  1.15

  	
  Expatriate

  	
  5

  
	
   

  	
  1.16

  	
  Final Average Monthly
  Earnings

  	
  5

  
	
   

  	
  1.17

  	
  Final Average Accrued
  Benefit

  	
  5

  
	
   

  	
  1.18

  	
  Foreign
  Affiliate

  	
  5

  
	
   

  	
  1.19

  	
  Frozen Final
  Average Accrued Benefit

  	
  5

  
	
   

  	
  1.20

  	
  Fund

  	
  6

  
	
   

  	
  1.21

  	
  Funding
  Agent

  	
  6

  
	
   

  	
  1.22

  	
  Hour
  of Service

  	
  6

  
	
   

  	
  1.23

  	
  Investment
  Manager

  	
  6

  
	
   

  	
  1.24

  	
  Leased
  Employee

  	
  6

  
	
   

  	
  1.25

  	
  Participant

  	
  7

  
	
   

  	
  1.26

  	
  PBGC

  	
  7

  
	
   

  	
  1.27

  	
  Period
  of Service

  	
  7

  
	
   

  	
  1.28

  	
  Plan

  	
  7

  
	
   

  	
  1.29

  	
  Plan
  Administrator

  	
  7

  
	
   

  	
  1.30

  	
  Plan Year

  	
  7

  
	
   

  	
  1.31

  	
  Qualified Domestic
  Relations Order

  	
  7

  
	
   

  	
  1.32

  	
  Retirement Committee

  	
  8

  
	
   

  	
  1.33

  	
  Section 401(a)(17)
  Participant

  	
  8

  
	
   

  	
  1.34

  	
  Service

  	
  8

  
	
   

  	
  1.35

  	
  Severance From Service Date

  	
  8

  
	
   

  	
  1.36

  	
  Temporarily Terminated

  	
  8

  
	
   

  	
  1.37

  	
  Temporary
  Employee

  	
  8

  
	
   

  	
  1.38

  	
  Terminated

  	
  8

  
	
   

  	
  1.39

  	
  VWR

  	
  8

  
						

 

i

 

	
  SECTION 2

  	
  PARTICIPATION

  	
  9

  
	
   

  	
  2.1

  	
  Eligibility for
  Participation.

  	
  9

  
	
   

  	
  2.2

  	
  Reemployment After a
  Termination.

  	
  9

  
	
   

  	
  2.3

  	
  Special Rules
  for Certain Participants.

  	
  9

  
	
  SECTION 3

  	
  RETIREMENT DATES

  	
  10

  
	
   

  	
  3.1

  	
  Regular Retirement Date.

  	
  10

  
	
   

  	
  3.2

  	
  Early Retirement Date.

  	
  10

  
	
   

  	
  3.3

  	
  Deferred Retirement Date.

  	
  11

  
	
   

  	
  3.4

  	
  Retirement
  Date.

  	
  11

  
	
  SECTION 4

  	
  RETIREMENT BENEFITS

  	
  12

  
	
   

  	
  4.1

  	
  Accrued
  Benefit.

  	
  12

  
	
   

  	
  4.2

  	
  Regular Retirement Benefit.

  	
  13

  
	
   

  	
  4.3

  	
  Early Retirement Benefit.

  	
  13

  
	
   

  	
  4.4

  	
  Deferred Retirement
  Benefit.

  	
  14

  
	
   

  	
  4.5

  	
  Reemployment After
  Retirement.

  	
  14

  
	
   

  	
  4.6

  	
  Suspension of Payments

  	
  14

  
	
   

  	
  4.7

  	
  Benefit; for Former
  Participants.

  	
  15

  
	
  SECTION 5

  	
  FORMS OF PAYMENT

  	
  16

  
	
   

  	
  5.1

  	
  Forms
  of Payment.

  	
  16

  
	
   

  	
  5.2

  	
  Automatic Form of Benefit.

  	
  17

  
	
   

  	
  5.3

  	
  Limitation on Joint
  Annuitant.

  	
  18

  
	
   

  	
  5.4

  	
  Explanation of Forms of
  Payment.

  	
  18

  
	
   

  	
  5.5

  	
  Small Benefit;
  and Repayment of Benefit.

  	
  19

  
	
   

  	
  5.6

  	
  Direct
  Rollovers.

  	
  19

  
	
  SECTION 6

  	
  DEATH AND DISABILITY BENEFITS

  	
  21

  
	
   

  	
  6.1

  	
  Spouse’s Death Benefit.

  	
  21

  
	
   

  	
  6.2

  	
  Disability Benefits.

  	
  22

  
	
  SECTION 7

  	
  VESTING

  	
  23

  
	
   

  	
  7.1

  	
  Vesting.

  	
  23

  
	
   

  	
  7.2

  	
  Deferred Vested Benefit.

  	
  23

  
	
   

  	
  7.3

  	
  Forfeitures.

  	
  24

  
	
  SECTION 8

  	
  LIMITATIONS ON BENEFITS

  	
  25

  
	
   

  	
  8.1

  	
  Limitations
  re Highly Compensated Employees.

  	
  25

  
	
   

  	
  8.2

  	
  Maximum
  Annual Benefit Payable Under the Plan.

  	
  26

  
	
  SECTION 9

  	
  TOP HEAVY PROVISIONS

  	
  30

  
	
   

  	
  9.1

  	
  Scope.

  	
  30

  
	
   

  	
  9.2

  	
  Top
  Heavy Status.

  	
  30

  
	
   

  	
  9.3

  	
  Minimum
  Benefit.

  	
  34

  
	
   

  	
  9.4

  	
  Vesting.

  	
  35

  
	
  SECTION 10

  	
  ADMINISTRATION OF THE PLAN

  	
  37

  
	
   

  	
  10.1

  	
  Plan Administrator.

  	
  37

  
	
   

  	
  10.2

  	
  Organization and
  Procedures.

  	
  37

  
	
   

  	
  10.3

  	
  Duties and Authority.

  	
  37

  

 

ii

 

	
   

  	
  10.4

  	
  Expenses and Assistance.

  	
  38

  
	
   

  	
  10.5

  	
  Claims
  Procedure.

  	
  39

  
	
   

  	
  10.6

  	
  Appeal
  Procedure.

  	
  39

  
	
   

  	
  10.7

  	
  Arbitration.

  	
  41

  
	
   

  	
  10.8

  	
  Plan Administration
  — Miscellaneous.

  	
  41

  
	
   

  	
  10.9

  	
  Qualified Domestic
  Relations, Orders.

  	
  44

  
	
   

  	
  10.10

  	
  Plan
  Qualification.

  	
  45

  
	
   

  	
  10.11

  	
  Deductible Contribution.

  	
  45

  
	
   

  	
  10.12

  	
  Action by
  VWR.

  	
  45

  
	
  SECTION 11

  	
  AMENDMENT AND TERMINATION

  	
  46

  
	
   

  	
  11.1

  	
  Amendment
  General.

  	
  46

  
	
   

  	
  11.2

  	
  Amendment —
  Consolidation or Merger.

  	
  46

  
	
   

  	
  11.3

  	
  Termination of the Plan.

  	
  46

  
	
   

  	
  11.4

  	
  Allocation
  of the Fund on Termination of Plan.

  	
  46

  
	
  SECTION 12

  	
  FUNDING

  	
  48

  
	
   

  	
  12.1

  	
  Contributions to the Fund.

  	
  48

  
	
   

  	
  12.2

  	
  Fund
  for Exclusive Benefit of Participants, and Beneficiaries.

  	
  48

  
	
   

  	
  12.3

  	
  Disposition of
  Credits and Forfeitures.

  	
  48

  
	
   

  	
  12.4

  	
  Funding
  Agent.

  	
  48

  
	
   

  	
  12.5

  	
  Investment Manager.

  	
  48

  
	
  SECTION 13

  	
  FIDUCIARIES

  	
  49

  
	
   

  	
  13.1

  	
  Limitation
  of Liability of the Employer and Others.

  	
  49

  
	
   

  	
  13.2

  	
  Indemnification of
  Fiduciaries.

  	
  49

  
	
   

  	
  13.3

  	
  Scope of Indemnification.

  	
  49

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  APPENDIX A

  	
  —

  	
  FORMER VAN WATERS & ROGERS PROFIT
  SHARING PLAN PARTICIPANTS.

  	
  A-1

  
	
   

  	
   

  	
   

  	
   

  
	
  APPENDIX B

  	
  —

  	
  FORMER PARTICIPANTS OF UNION PLANS

  	
  B-1

  
	
   

  	
   

  	
   

  	
   

  
	
  APPENDIX C

  	
  —

  	
  EMPLOYEES TRANSFERRED IN SPINOFF FROM UNIVAR
  CORPORATION

  	
  C-1

  
	
   

  	
   

  	
   

  	
   

  
	
  APPENDIX D

  	
  —

  	
  FORMER EMPLOYEES OF ACQUIRED COMPANIES

  	
  D-1

  
	
   

  	
   

  	
   

  	
   

  
	
  APPENDIX E

  	
  —

  	
  TRANSFER OF EMPLOYEES BETWEEN VWR SCIENTIFIC
  PRODUCTS CORPORATION AND MOMENTUM DISTRIBUTION INC. PRIOR TO APRIL 1, 1992

  	
  E-1

  
	
   

  	
   

  	
   

  	
   

  
	
  APPENDIX F

  	
  —

  	
  FORMER EMPLOYEES OF BAXTER INTERNATIONAL,
  INC.

  	
  F-1

  

 

iii

 

	
  APPENDIX G

  	
  —

  	
  FORMER PARTICIPANTS IN SCIENCE KIT, INC.
  RETIREMENT PLAN

  	
  G-1

  
	
   

  	
   

  	
   

  	
   

  
	
  APPENDIX H

  	
  —

  	
  FORMER PARTICIPANTS IN WARD’S NATURAL SCIENCE
  ESTABLISHMENT, INC. RETIREMENT PLAN

  	
  H-1

  
	
   

  	
   

  	
   

  	
   

  
	
  APPENDIX I

  	
  —

  	
  FORMER EMPLOYEES OF MERCK
  AND SUBSIDIARIES

  	
  I-1

  

 

iv

 

PREAMBLE

THIS VWR INTERNATIONAL, INC. RETIREMENT PLAN
(hereinafter referred to as the “Plan,” and formerly known as the VWR
Scientific Products Corporation Retirement Plan) was adopted effective March 1,
1986, by VWR International, Inc. (formerly known as VWR Scientific Products
Corporation) and is amended and restated effective January 1, 2001.

WHEREAS, the Plan shall be maintained for the
exclusive benefit of covered employees and their beneficiaries, and is intended
to comply with the Internal Revenue Code of 1986, as amended, the Employee
Retirement Income Security Act of 1974, as amended, and other applicable laws;

NOW, THEREFORE, effective January 1, 2001, VWR does
hereby adopt the amended and restated Plan as set forth in the following pages.

 

 

SECTION 1

 

DEFINITIONS

The following terms when used herein shall have the
following meanings, unless a different meaning is plainly required by the
context.

1.1           Accrued Benefit means on any date, the benefit
determined under the formula specified in Section 4.1 as of such date.

1.2           Actuarially Equivalent and terms of
similar import (for purposes other than determining contributions to the Fund)
mean, except as otherwise specifically provided, that the present value of two
payments or series of payments shall be of equal value when computed at a 7%
rate of interest and on the basis of the UP-1984 Mortality Table with
ages set back 1-1/2 years.

1.3           Annuity Starting Date means:

(a)           the first day of the first period for
which an amount is paid as an annuity; or

(b)           in the case of a benefit not payable
in the form of an annuity, the first day on which all events have occurred
which entitle the Participant to such benefit.

1.4           Applicable Interest Rate means the
annual rate of interest on 30-year Treasury securities, as specified by
the Commissioner of Internal Revenue for the second calendar month preceding
the beginning of the Plan Year which includes the Annuity Starting Date.

1.5           Applicable Mortality Table means the
table described in Rev. Rule. 95-6, or any successor table prescribed by
the Commissioner of Internal Revenue in revenue rulings, notices, or other
published guidance under section 417(e)(3) of the Code.

1.6           Beneficiary means the person or persons designated
to be the Beneficiary by the Participant in writing to the Retirement
Committee.  In the event a married
Participant designates someone other than his or her spouse as Beneficiary,
such designation shall be invalid unless the spouse consents in a writing which
is notarized or witnessed by a Plan representative.  If no designated Beneficiary survives the Participant, the
benefits shall be paid to the Participant’s estate.

1.7           Code means the Internal Revenue Code of 1986, as amended
and including all regulations promulgated pursuant thereto.

 

2

 

1.8           Credited Service means years and months of
employment during a Period of Service. 
Credited Service shall also include years and months of employment with
certain predecessor employers as described in Appendices to this Plan.  Notwithstanding the foregoing, effective
January 30, 2001, for benefit accrual purposes, Credited Service shall not
include service as an Expatriate.

1.9           Disabled means a physical or mental condition of a
person which qualifies him or her to receive benefits from an Employer’s
disability plan designed to benefit totally and permanently disabled employees,
or which would qualify such person to receive benefits if he or she were
covered by such disability plan.

1.10         Earnings means an employee’s salary or wages for the
calendar year.  Earnings shall include
bonuses, commissions, overtime, severance payments, and salary reduction
contributions made by an employee to a benefit plan, but shall not include such
items as reimbursement of moving expenses, car allowances, club dues, income
attributable to life insurance, or any other nonsalary items.  If an employee elects to receive severance
payments in a single lump sum in lieu of monthly installments, such payments
shall be treated for purposes of this Plan as if they had been made in equal
monthly installments over the period of time provided by the Employer’s
severance pay plan.

With respect to benefits accruing after December 31,
1993, but prior to January 1, 2002, Earnings shall not include the amount of
any annual Earnings received by a Participant in excess of $150,000, as
adjusted by the Commissioner of Internal Revenue for increases in the cost of living
in accordance with section 401(a)(17)(B) of the Code, as amended by the
Omnibus Budget Reconciliation Act of 1993. 
With respect to benefits accruing after December 31, 2001, Earnings
shall not include the amount of any annual Earnings received by a Participant
in excess of $200,000, as adjusted for increases in the cost of living in
accordance with section 401(a)(17)(B) of the Code.  The cost-of-living adjustment in effect for
a calendar year applies to any period, not exceeding twelve months, over which
Earnings are determined (the “determination period”) beginning in such calendar
year.  If a determination period
consists of fewer than twelve months, the limit shall be multiplied by a
fraction, the numerator of which is the number of months in the determination
period, and the denominator of which is twelve.

If Earnings for any prior determination period are
taken into account in determining a Participant’s benefits accruing in any Plan
Year beginning after December 31, 1993, but prior to January 1, 2002, the
Earnings for such prior determination period are subject to the limit in effect
for such prior determination period. 
For this purpose, for determination periods beginning before January 1,
1994, the annual limit is $150,000.

 

3

 

In determining benefit accruals in Plan Years
beginning after December 31, 2001, the annual limit for determination
periods beginning prior to January 1, 2002, shall be $200,000.

1.11         Eligible Employee means any person employed by
the Employer as a common law employee provided he or she is not:

(a)           An employee covered by a collective
bargaining agreement resulting from negotiations in which retirement benefits
were the subject of good faith bargaining, unless there is an agreement that
this Plan shall cover employees within the bargaining unit;

(b)           A Temporary Employee;

(c)           Effective January 30, 2001, an
Expatriate;

(d)           An individual who provides services
to the Employer pursuant to an agreement between the Employer and a leasing
organization (including, but not limited to, a Leased Employee); or

(e)           Any other individual who is
classified by the Employer as an independent contractor or in any other
category which is not a common law employee, as reflected in the official
payroll and personnel records of the Employer. 
The exclusion set forth in this paragraph (e) shall be based solely
on the Employer’s classification, regardless of how such individual is
classified by any governmental or regulatory authority, or by any court.  If the Employer reclassifies an individual
as an employee, such reclassification shall apply prospectively from the date
of such reclassification (and not retroactively to the date on which he or she
was found to have first become an employee for any other purpose), unless the
Employer specifically provides otherwise.

1.12         Employer means VWR and any affiliate of VWR which
adopts the Plan with the approval of VWR. 
For purposes of applying to this Plan sections 401, 410, 411, and
415 of the Code which relate to qualified retirement plans generally, minimum
participation and vesting standards, and limitations on benefits and
contributions under qualified retirement plans, all employees of businesses
under common control shall be considered to be employed by a single
employer.  In determining whether
businesses are under common control, the rules of section 414(b), (c),
(m), and (o) of the Code shall apply; provided that, for purposes of applying
section 414(b) and (c) of the Code to the limitations on benefits set
forth in Section 8.2, the phrase “more than 50 percent” shall be
substituted for the phrase “at least 80 percent” each place it appears in
section 1563(a)(1) of the Code.

 

4

 

1.13         Employment Commencement Date means
the date on which an Eligible Employee first completes an Hour of Service for
the Employer during the current period of employment.

1.14         ERISA means the Employee Retirement Income Security Act
of 1974, as amended.

1.15         Expatriate means any person who transfers to
employment with the Employer from employment with a Foreign Affiliate and who
continues to accrue retirement benefits under a plan maintained by or
contributed to by such Foreign Affiliate. 
A person shall cease to be an Expatriate on the day following the last
day of the period for which he or she accrues a benefit under the plan
maintained by or contributed to by the Foreign Affiliate.

1.16         Final Average Monthly Earnings
means one sixtieth of the total Earnings received by the Participant in the
five consecutive calendar year period during which such total Earnings are the
highest.  If a Participant who was
credited with Periods of Service and/or Credited Service under Section 6.2
as a Disabled employee received Earnings before and after the Disability
period, the Disability period shall be disregarded in computing consecutive
calendar years so that Earnings received immediately before and after the
Disability period shall be deemed to have been paid in consecutive periods.  If a Participant becomes entitled to a
benefit under the Plan before he or she has received Earnings for a period of
five consecutive calendar years, such Participant’s Final Average Monthly
Earnings shall be determined by dividing the total Earnings the Participant has
received during the full and partial calendar years of his or her employment by
the number of months during which such Earnings were received.  The Final Average Monthly Earnings of a
Participant who has Terminated shall be determined by taking into account any
severance payments to which the Participant is entitled, whether or not the
Participant has yet received such payments.

1.17         Final Average Accrued Benefit means
a Participant’s Accrued Benefit as determined under Section 4.1(b).

1.18         Foreign Affiliate means Merck KGaA, Darmstadt,
Germany (“Merck”), or any entity which is a direct or indirect subsidiary of
Merck and which is not an American employer (as defined in section 3121(h)
of the Code).

1.19         Frozen Final Average Accrued Benefit
means a Participant’s Final Average Accrued Benefit as of December 31, 1993,
frozen in accordance with Treas. Reg. §1.401(a)(4)-13, multiplied by
a fraction (not less than one), the numerator of which is the Participant’s
Final Average Monthly Earnings as of the date of determination, and the
denominator of which is the Participant’s Final Average Monthly Earnings as of
December 31, 1993, under the provisions of the Plan in effect on such date.

 

5

 

1.20         Fund means the fund or funds into which shall be paid all
contributions and from which all benefits shall be paid under this Plan.  It shall include, without limitation, any
annuity contract, trust fund, and/or assets managed by an Investment Manager.

1.21         Funding Agent means the trustee or insurance
company who receives, holds, invests, and disburses the assets of the Fund in
accordance with the terms and provisions set forth in a trust agreement or an
annuity contract.

1.22         Hour of Service means each hour for which an
employee is paid or entitled to payment for the performance of duties for the
Employer.

1.23         Investment Manager means any fiduciary (other
than the Funding Agent) who:

(a)           has the power to manage, acquire, or
dispose of any asset of the Plan;

(b)           is either:

(i)            registered as an “investment
adviser” under the Investment Advisers Act of 1940; or, if not so registered by
reason of paragraph (1) of section 203A(a) of such Act, is registered
as an investment adviser under the laws of the state referred to in such paragraph (1)
in which it maintains its principal office and place of business; or

(ii)           a bank, or

(iii)          an insurance company qualified under
the laws of more than one state to perform the services described in
paragraph (a) above; and

(c)           has acknowledged in writing that he
or she is a fiduciary with respect to the Plan.

1.24         Leased Employee means any person who is not an
employee of the Employer and who provides services to the Employer if (i) such
services are provided pursuant to an agreement between the Employer and any
other person (a “leasing organization”), (ii) such person has performed such
services for the Employer (or for the Employer and related persons) on a
substantially full-time basis for a period of at least one year, and (iii) such
services are performed under the primary direction or control of the
Employer.  Notwithstanding the
foregoing, if all such leased employees constitute less than 20 percent of the
nonhighly compensated work force (within the meaning of

 

6

 

Code
§414(n)(5)(C)(ii)) of the Employer, the term “Leased Employee” shall not
include any leased employee covered by a plan maintained by the employer of the
leased employee and described in Code §414(n)(5).

1.25         Participant means any Eligible Employee who
qualifies for participation under Section 2.  A nonvested Participant shall cease to be a Participant on the
date he or she Terminates.  A vested Participant
shall cease to be a Participant when his or her benefit payments are completed.

1.26         PBGC means the Pension Benefit Guaranty Corporation.

1.27         Period of Service means the period of time
commencing with the Employment Commencement Date and ending on the Severance
From Service Date.  Nonsuccessive
periods are aggregated to determine the employee’s total Period of
Service.  For vesting and eligibility
purposes, an employee’s Period of Service shall also include the following:

(a)           Periods not in Service due to
Temporary Termination; and

(b)           Periods of Service required by
section 414(a)(1) of the Code or under Treasury Regulations issued
pursuant to section 414(a)(2) of the Code, and Service with any employer
which is a member of a controlled group of corporations (within the meaning of
section 414(b) of the Code) which includes the Employer, with any trade or
business under common control (within the meaning of section 414(c) of the
Code) with the Employer, with any employer which is a member of an affiliated
service group (within the meaning of section 414(m) of the Code) with the
Employer, or with any other employer required to be aggregated with the
Employer under section 414(o) of the Code.  Also, Periods of Service shall include service required under
section 414(n) of the Code relating to employees leased to the Employer or
to an employer which is aggregated under section 414(b), (c), (m), or (o)
of the Code.

1.28         Plan means the “VWR International, Inc. Retirement Plan”
set forth in this document, as from time to time amended.

1.29         Plan Administrator means the person or entity
designated in Section 10 to administer the Plan.

1.30         Plan Year means the twelve-month period commencing
each January 1 and ending each December 31.

1.31         Qualified Domestic Relations Order
means a qualified domestic relations order as defined in section 414(p) of
the Code.

 

7

 

1.32         Retirement Committee means the Committee as
from time to time constituted and appointed by VWR to administer the Plan.

1.33         Section 401(a)(17) Participant
means a Participant whose Accrued Benefit as of any date on or after January 1,
1994, is based on Earnings for a Plan Year beginning prior to January 1, 1994,
that exceeded $150,000.

1.34         Service means periods for which an employee is paid or
entitled to payment for the performance of duties for the Employer.

1.35         Severance From Service Date means the
date on which an employee quits, retires, is discharged or dies.

1.36         Temporarily Terminated means Terminated
but subsequently rehired and in Service within one year of the Severance From Service
Date.

1.37         Temporary Employee means any individual who
is (i) employed by the Employer for a temporary period or without a regular
work schedule, and (ii) classified by the Employer as temporary.

1.38         Terminated means no longer in Service or employed as
an employee with the Employer because the employee has quit, retired, been
discharged, died, or has sustained a one year period of absence for any other
reason.

1.39         VWR means VWR International, Inc., a Delaware corporation.

 

8

 

SECTION 2

 

PARTICIPATION

2.1           Eligibility for Participation.

Each Eligible Employee shall become a Participant
under this Plan upon completing one year of Credited Service.

2.2           Reemployment After a Termination.

Upon the reemployment of a Terminated former
Participant as an Eligible Employee, he or she shall immediately become a
Participant.

2.3           Special Rules for Certain
Participants.

Special rules relating to vesting and benefit
computation apply to certain Participants. 
The special rules are set out in appendices to this Plan as follows:

(a)           Former Van Waters & Rogers Profit
Sharing Plan Participants, Appendix A.

(b)           Former Participants of Union Plans,
Appendix B.

(c)           Employees Transferred in Spinoff from
Univar Corporation, Appendix C.

(d)           Former Employees of Acquired
Companies, Appendix D.

(e)           Transfer of Employees between VWR
Scientific Products Corporation and Momentum Distribution Inc. prior to April
1, 1992, Appendix E.

(f)            Former Employees of Baxter
International, Inc., Appendix F.

(g)           Former Participants in Science Kit,
Inc. Retirement Plan, Appendix G.

(h)           Former Participants in Ward’s Natural
Science Establishment, Inc. Retirement Plan, Appendix H.

(i)            Former Employees of Merck and
Subsidiaries, Appendix I.

 

9

 

SECTION 3

 

RETIREMENT
DATES

3.1           Regular Retirement Date.

The Regular Retirement Date for a Participant shall be
the first day of the month on which the Participant is eligible to receive his
or her full Social Security benefit. 
Under the Social Security Act, the date on which a Participant is
eligible to receive full Social Security benefits is determined in accordance
with the following table:

	
  If
  Participant was born in

  	
   

  	
  If Participant will be age 62 in

  	
   

  	
  Participant’s Age for full benefit; is

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  1937 or earlier

  	
   

  	
  1999 or earlier

  	
   

  	
  65 yrs

  	
   

  
	
  1938

  	
   

  	
  2000

  	
   

  	
  65 yrs, 2 mos

  	
   

  
	
  1939

  	
   

  	
  2001

  	
   

  	
  65 yrs, 4 mos

  	
   

  
	
  1940

  	
   

  	
  2002

  	
   

  	
  65 yrs, 6 mos

  	
   

  
	
  1941

  	
   

  	
  2003

  	
   

  	
  65 yrs, 8 mos

  	
   

  
	
  1942

  	
   

  	
  2004

  	
   

  	
  65 yrs, 10 mos

  	
   

  
	
  1943-1954

  	
   

  	
  2005-2016

  	
   

  	
  66 yrs

  	
   

  
	
  1955

  	
   

  	
  2017

  	
   

  	
  66 yrs, 2 mos

  	
   

  
	
  1956

  	
   

  	
  2018

  	
   

  	
  66 yrs, 4 mos

  	
   

  
	
  1957

  	
   

  	
  2019

  	
   

  	
  66 yrs, 6 mos

  	
   

  
	
  1958

  	
   

  	
  2020

  	
   

  	
  66 yrs, 8 mos

  	
   

  
	
  1959

  	
   

  	
  2021

  	
   

  	
  66 yrs, IO mos

  	
   

  
	
  1960 or later

  	
   

  	
  2022 or later

  	
   

  	
  67 yrs

  	
   

  

A Participant who Terminates prior to his or her Regular
Retirement Date with a vested Accrued Benefit shall commence receiving his or
her benefit at Regular Retirement Date, unless such Participant qualifies for
and elects to receive benefits at Early Retirement Date.

If a Participant continues working after the Regular
Retirement Date specified above, but works less than eight days during a
calendar month, or during a four- or five-week payroll period ending in a
calendar month, such Participant shall be considered retired and shall receive
benefit payments.  If a Participant
performs only one Hour of Service in a day, that day shall be counted as one of
the eight days.

3.2           Early
Retirement Date.

Each Participant who attains age 55 and completes a
fifteen- (15-)year Period of Service may elect, in writing, an Early
Retirement Date.  Such Early Retirement
Date shall be before the Regular Retirement Date and after Termination on

 

10

 

the first day of any month coinciding with or
following the date the early retirement requirements are met.

3.3           Deferred
Retirement Date.

The Deferred Retirement Date for a Participant who
continues working after the Regular Retirement Date shall be:

(a)           in the case of a Participant who
reaches age 70-1/2 prior to January 1, 1999, or who is a five-percent
owner (within the meaning of section 401(a)(9)(C)(ii) of the Code), the
earlier of (i) the first day of the month coinciding with or next following his
or her Termination date, or (ii) April 1 of the calendar year following the year
in which the Participant reaches age 70-1/2; and

(b)           in the case of a Participant who is
not a five-percent owner and who reaches age 70-1/2 on or after January
1, 1999, the first day of the month coinciding with or next following his or
her Termination date, or, if the Participant so elects, April 1 of the calendar
year following the year in which the Participant reaches age 70-1/2, if
earlier.

3.4           Retirement
Date.

The Retirement Date for a Participant shall be the
date specified in Sections 3. 1, 3.2, or 3.3.  The Retirement Date is the Annuity Starting Date.  Notwithstanding any other provision of the
Plan, all distributions under the Plan shall comply with section 401(a)(9)
of the Code, including the minimum distribution incidental benefit requirements
of section 401(a)(9)(G) of the Code, and regulations issued thereunder
(Prop. Treas. Reg. §1.401(a)(9)-l through §1.401(a)(9)-8 or
any successor thereto).  This
Section 3.4 and section 401(a)(9) of the Code shall take precedence
over any distribution options in the Plan inconsistent with this
Section 3.4 or section 401(a)(9) of the Code.  With respect to distributions under the Plan
made in calendar years beginning on or after January 1, 2001, the Plan shall apply
the minimum distribution requirements of section 401(a)(9) of the Code in
accordance with the regulations thereunder which were proposed in January 2001,
notwithstanding any provision of the Plan to the contrary.  This provision shall continue in effect until
the end of the last calendar year beginning before the effective date of final
regulations under section 401(a)(9) of the Code or such other date as is
specified in guidance published by the Internal Revenue Service.

 

11

 

SECTION 4

 

RETIREMENT
BENEFITS

4.1           Accrued Benefit.

The Accrued Benefit, in the form of a monthly benefit
payable as a single life annuity, for any Participant shall equal the greatest
of:

(a)           $20 multiplied by his or her Credited
Service;

(b)           the Participant’s Credited Service,
up to a maximum of 33 years multiplied by:

(i)            1% of Final Average Monthly
Earnings; plus

(ii)           3/4 of 1% of Final Average Monthly
Earnings in excess of the integration level. 
For the purposes of this Section 4.1, the integration level is 1/36
of the Social Security maximum taxable wage base, as defined under
Section 230 of the Social Security Act, in the year of Termination,
provided that the 1/36 Social Security maximum taxable wage base shall not
exceed 1/12 of covered compensation as defined under section 401(1) of the
Code and regulations thereunder; or

(c)           the greatest early retirement benefit
the Participant would have been entitled to receive under Section 4.3 if
he or she had retired and commenced receiving a reduced monthly pension at any
time before his or her Regular Retirement Date.

Notwithstanding the foregoing, a Participant’s Accrued
Benefit shall not be less than his or her Accrued Benefit would have been on
February 28, 1989, if the Accrued Benefit had been calculated on that date
using the benefit formula in effect on December 31, 1988.

The Final Average Accrued Benefit of a
Section 401(a)(17) Participant who is eligible to receive retirement
income under the Plan shall be a monthly income equal to the greater of (1) or
(2) below, where:

(1)           is the sum of (A) and (B) below,

(A)          the Participant’s Frozen Final Average
Accrued Benefit; plus

(B)           the Participant’s Final Average
Accrued Benefit determined under paragraph (b) above, based upon the
Participant’s Final

 

12

 

Average Monthly Earnings and Credited Service as of
the date of determination, but disregarding Credited Service prior to January
1, 1994 (except for purposes of the 33-year limit under
paragraph (b) above);

and

(2)           is the Participant’s Final Average
Accrued Benefit determined under paragraph (b) above, counting all
Credited Service, up to a maximum of 33 years, and using the maximum
compensation limits in effect under section 401(a)(17) of the Code on and
after January 1, 1994, in determining a Participant’s Final Average Monthly
Earnings.

It is intended that the foregoing provisions comply
with the requirements of Treas. Reg. §1.401(a)(4)-13 and
§1.401(a)(17)-1 regarding the fresh-start with extended wear-away of
Section 401(a)(17) Participants.

4.2           Regular
Retirement Benefit.

A Participant’s monthly Regular Retirement Benefit
shall equal his or her vested Accrued Benefit as of the date of Termination
Actuarially adjusted for form of payment and any prior distributions.

4.3           Early
Retirement Benefit.

A Participant’s Early Retirement Benefit shall equal
his or her vested Accrued Benefit as of the date of Termination, reduced as
specified below for each year that the Early Retirement Date precedes the
Regular Retirement Date, and then Actuarially adjusted for form of payment and
any prior distributions.  The reduced
benefit shall be determined using the general reduction factor from the
following table, except that the amount determined under Section 4.1(b)(ii)
shall be reduced using the special reduction factor indicated:

	
  Number of
  years Prior to Regular Retirement Date

  	
   

  	
  General Reduction Factor

  	
   

  	
  Section 4.1(b)(ii) Reduction Factor

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  0

  	
   

  	
  100.0000%

  	
   

  	
  100.0000%

  	
   

  
	
  1

  	
   

  	
  98.0000

  	
   

  	
  93.3333

  	
   

  
	
  2

  	
   

  	
  96.0000

  	
   

  	
  86.6667

  	
   

  
	
  3

  	
   

  	
  94.0000

  	
   

  	
  80.0000

  	
   

  
	
  4

  	
   

  	
  90.0000

  	
   

  	
  74.0000

  	
   

  
	
  5

  	
   

  	
  86.0000

  	
   

  	
  68.0000

  	
   

  
	
  6

  	
   

  	
  80.0000

  	
   

  	
  62.0000

  	
   

  
	
  7

  	
   

  	
  74.0000

  	
   

  	
  56.0000

  	
   

  

 

13

 

	
  8

  	
   

  	
  68.0000

  	
   

  	
  50.0000

  	
   

  
	
  9

  	
   

  	
  62.0000

  	
   

  	
  44.0000

  	
   

  
	
  10

  	
   

  	
  56.0000

  	
   

  	
  38.0000

  	
   

  
	
  11

  	
   

  	
  50.0000

  	
   

  	
  32.0000

  	
   

  
	
  12

  	
   

  	
  44.0000

  	
   

  	
  26.0000

  	
   

  

If the Participant’s number of years prior to Regular
Retirement Date includes partial years, the percentages to be applied to the
two benefit factors shall be interpolated from the above table.

4.4           Deferred
Retirement Benefit.

A Participant’s Deferred Retirement Benefit shall
equal his or her vested Accrued Benefit as of the date of Termination, and
Actuarially adjusted for form of payment and any prior distributions, and, to
the extent required under section 401(a)(9) of the Code, to reflect commencement
after age 70-1/2.  Additional
benefit accruals after a Participant’s Regular Retirement Date shall be offset
by any adjustment attributable to the delay in distribution of benefits after
age 70-1/2, as permitted under section 411-(b)(1)(H)(iii)(II)
of the Code.  There shall be no
Actuarial adjustment to reflect the deferred commencement of benefits prior to
age 70-1/2.  Service and Earnings
beyond the Regular Retirement Date shall be taken into consideration, subject
to the 33-year limit in Section 4.1.  In no event shall the benefit provided under this paragraph be
less than the retirement benefit to which the Participant would have been
entitled if he or she had actually retired on the Regular Retirement Date.

4.5           Reemployment
After Retirement.

Upon reemployment, a Participant shall continue to
receive retirement benefits and resume accruing benefits under the Plan.  Benefits shall be adjusted to reflect
additional accruals to the extent required by ERISA and the Code.  At the Participant’s subsequent retirement,
benefits payable shall be based on his or her total Credited Service and
Earnings at the time of subsequent retirement, and shall be reduced by the
Actuarial Equivalent value of benefits previously received by the Participant,
except as otherwise provided in Section 5.5.  In no event shall the benefit provided upon subsequent retirement
be less than the initial retirement benefit.

4.6           Suspension of Payments.  Except as otherwise provided in
Section 3.3, Section 4.4, and Section 4.5, no pension payments
shall be made for any period in which a Participant is in “Substantial
Employment.”  A Participant is in
Substantial Employment if the Participant has remained in or returned to
employment with the Employer during any calendar month subsequent to the date
the Participant reaches age 65 and works at least eight days in such calendar
month (or during a four- or five-week payroll period ending in such calendar
month).  For this purpose, a Participant
shall be treated as working on any day during which he or she performs at least
one Hour

 

14

 

of
Service.  If all or a portion of a
Participant’s pension payments are suspended for any period after he or she
reaches age 65, the Retirement Committee shall notify the Participant, by
personal delivery or first class mail, during the first calendar month
commencing on or after the date the Participant reaches age 65 in which the
Plan withholds payments, that his or her benefits are suspended, in accordance
with the requirements set forth in 29 C.F.R. §2530.203-3(b)(4).

A Participant’s pension payments shall commence,
subject to offset as provided by 29 CFR §2530.203-3(b)(2) and (3), no
later than the first day of the third calendar month after the calendar month
in which the Participant ceases to be in Substantial Employment.  The pension payable when the Participant
ceases to be in Substantial Employment shall be determined in accordance with
Section 4.4 or 4.5, whichever is applicable at such time, and shall be
based on his or her total Credited Service (to a maximum of 33 years).

Every Participant must notify the Retirement Committee
of any employment with the Employer subsequent to the time his or her pension
payments from the Plan commence.  A
Participant may request that the Retirement Committee render a determination
pursuant to Section 10.5 as to whether specific contemplated employment
would constitute Substantial Employment.

4.7           Benefit;
for Former Participants.

Except as otherwise specifically provided in the Plan,
eligibility for benefits and the amount of such benefits for a former
Participant who retired or otherwise separated from service with the Employer
before January 1, 2001, shall be based upon the provisions of the Plan in
effect on the Participant’s date of Termination.  An employee who Terminates prior to becoming a Participant in
this Plan may be eligible for benefits under a predecessor employer plan but is
not eligible for benefits under this Plan. 
However, if a Terminated Participant has had an hour of service on or
after January 1, 1976, and is living on August 23, 1984, a spouse’s death
benefit maybe payable under Section 6.1(c) if the requirements of that
section are met.

 

15

 

SECTION 5

 

 FORMS OF PAYMENT

5.1           Forms of Payment.

A retiring Participant may elect any one of the
options described below at any time during the 90-day period ending on
the Annuity Starting Date.

(a)           Whole Life Annuity

A Whole Life Annuity shall be payable monthly from the
Annuity Starting Date to the first of the month preceding death.  The amount of the monthly benefit shall
equal the monthly Regular Retirement Benefit, adjusted for Early or Deferred
Retirement if applicable.

(b)           Joint and Survivor Annuity

A reduced Joint and Survivor Annuity shall be payable
monthly to a retired Participant from the Annuity Starting Date to the first of
the month preceding death.  Following
the Participant’s death, a benefit, equal to 50% or 100% of the reduced amount
payable to the retired Participant, shall be payable for life to the
Participant’s spouse, if living at the time of the Participant’s death.  A Participant may elect which percentage
shall be payable to the spouse.

If the spouse dies after the Participant’s Annuity
Starting Date, the Participant’s payments shall be in the same reduced amount
as is otherwise payable under the Joint and Survivor Annuity.  If the spouse dies prior to the
Participant’s Annuity Starting Date, any election of a form of benefit under
this paragraph (b) shall be automatically canceled.  If the Participant dies prior to the Annuity
Starting Date, the spouse shall not be entitled to receive any payments under
this Section 5.1.

The 50% Joint and Survivor Annuity shall be equal to
90% of the Participant’s retirement benefit payable in the form of a Whole Life
Annuity.

The 100% Joint and Survivor Annuity shall be equal to
80% of the Participant’s retirement benefit payable in the form of a Whole Life
Annuity.

(c)           Period Certain and Life Annuity

A reduced Period Certain and Life Annuity shall be
payable monthly from the Annuity Starting Date to the first of the month
preceding death, but in no event shall less than a certain number of monthly
payments be made.  A Participant may
elect the period certain and number of monthly payments under the table
below.  If the Participant dies before
receiving the applicable number of monthly payments, the remaining

 

16

 

payments shall continue to be made to his or her
designated Beneficiary.  If both the
Participant and the Beneficiary die before receiving the applicable number of
monthly payments, the remaining payments shall be made to the estate of the
last to die of the Participant and the Beneficiary.  The total value of the Period Certain and Life Annuity shall be
equal to the portion of the Participant’s retirement benefit payable in the
form of a Whole Life Annuity, specified in the table below:

	
  Period of
  Years

  	
   

  	
  Number of Monthly Payments

  	
   

  	
  Total Benefit Reduction Factor

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  5

  	
   

  	
  60

  	
   

  	
  .98

  	
   

  
	
  10

  	
   

  	
  120

  	
   

  	
  .92

  	
   

  
	
  15

  	
   

  	
  180

  	
   

  	
  .85

  	
   

  
	
  20

  	
   

  	
  240

  	
   

  	
  .75

  	
   

  

If any benefit is payable to the Participant’s or
Beneficiary’s estate under this paragraph, such benefit shall be payable in a
single sum amount.  The single sum amount
shall be the present value of the benefit under this paragraph, determined by
using the interest rate used in this Plan for determining Actuarial
Equivalency.

5.2           Automatic Form of Benefit.

Unless a Participant elects otherwise, Benefits shall
be paid as provided below:

(a)           Married Participants

Any Participant who is married on his or her Annuity
Starting Date shall automatically be deemed to have elected the 50% (or, if the
Participant so elects in writing during the election period described in Section 5.1,
100%) Joint and Survivor Annuity, effective as of such date, with his or her
spouse as the joint annuitant.

A Participant may reject the Joint and Survivor
Annuity by filing a written notice with the Retirement Committee prior to the
Annuity Starting Date.  Such notice must
be signed by the Participant’s spouse and the spouse’s signature must be
notarized or witnessed by a Plan representative.  In the event the Joint and Survivor Annuity is rejected, benefits
shall be paid in the form of a Whole Life Annuity, unless another option is
elected.  The election of an optional
benefit or the designation of a Beneficiary other than the spouse may not be
changed without spousal consent or the spousal consent must permit designations
by the Participant without further consent by the spouse.

A Participant may file a rejection notice or revoke
any such notice at any time during the election period described in
Section 5.1.

 

17

 

(b)           Other Participants

Any other Participant shall receive his or her
retirement benefits in the form of a Whole Life Annuity, unless another option
is elected.

5.3           Limitation
on Joint Annuitant.

A Participant may not elect a joint annuitant other
than his or her spouse.

5.4           Explanation
of Forms of Payment.

The Retirement Committee shall furnish each
Participant with a written explanation of the terms and conditions of the forms
of payment, and of his or her right to defer commencement of benefit payments
until his or her Regular Retirement Date, if applicable, not more than ninety
(90) days and not less than thirty (30) days prior to the Annuity Starting
Date; provided, however, that distributions of a Participant’s benefit may
commence less than thirty days after such explanation is given to the
Participant if:

(a)           The Retirement Committee clearly
informs the Participant that he or she has a right to a period of at least
thirty (30) days after receiving such explanation to consider whether to waive
the automatic form of payment described in Section 5.2 and, if applicable,
to consider whether to commence receipt of his or her benefit before his or her
Regular Retirement Date;

(b)           After receiving the explanation, the
Participant affirmatively elects a form of distribution (with spousal consent,
if required under Section 5.2), and the Participant affirmatively elects
to commence receiving his or her benefit (if distribution is to commence prior
to his or her Regular Retirement Date);

(c)           The Participant is permitted to
revoke his or her affirmative election at least until his or her Annuity
Starting Date or, if later, at any time prior to the expiration of the seven-
(7-) day period that begins the day after the explanation is provided to
the Participant;

(d)           The Participant’s Annuity Starting
Date is after the date the explanation is provided to the Participant, except
as otherwise permitted under section 417(a)(7) of the Code and Treasury
regulations issued thereunder; and

(e)           Distribution in accordance with the
Participant’s affirmative election does not commence before the expiration of
the seven- (7-) day period that begins on the day after the explanation
is provided to the Participant.

 

18

 

5.5           Small Benefit; and Repayment of
Benefit.

Effective for Participants Terminating on and after
January 1, 1998, in cases where the present value of a vested or payable
benefit of a Terminating Participant is not greater than $5,000 (and, in the
case of a distribution made prior to October 17, 2000, was not greater than
$5,000 at the time of any prior distribution), the benefit shall be paid in a
lump-sum distribution as soon as practicable after Termination.  For purposes of this paragraph, the present
value shall be based upon the Applicable Interest Rate and the Applicable
Mortality Table.  A Participant who has
no vested benefit at the time of his or her Termination shall be deemed to
receive a distribution in the amount of $0 under this Section 5.5 as of
the date of such Termination.

In the event a Participant receives a lump-sum
distribution at any time after Termination and later resumes participation
after returning to work, he or she may repay such benefit with 5% interest to
the Plan within two years of resuming employment.  The Accrued Benefit of a Participant who makes such repayment
shall be determined as if no prior distribution occurred.  If a Participant who receives a deemed $0
distribution later returns to work, he or she shall be deemed to have repaid
such distribution to the Plan.

5.6           Direct Rollovers.

(a)           Direct Rollovers.  Notwithstanding any provisions of the Plan
to the contrary that would otherwise limit a distributee’s election under this
Section 5.6, a distributee may elect, at the time and in the manner
prescribed by the Retirement Committee, to have any portion of an eligible
rollover distribution paid directly to an eligible retirement plan specified by
the distributee in a direct rollover.

(b)           Definitions.

(1)           Eligible rollover distribution:  An eligible rollover distribution is any distribution
of all or any portion of the balance to the credit of the distributee, except
that an eligible rollover distribution does not include:  any distribution that is one of a series of
substantially equal periodic payments (not less frequently than annually) made
for the life (or life expectancy) of the distributee or the joint lives (or
joint life expectancies) of the distributee and the distributee’s designated
Beneficiary, or for a specified period of ten years or more; any distribution
to the extent such distribution is required under section 401(a)(9) of the
Code; and the portion of any distribution that is not includible in gross
income (determined without regard to the exclusion for net unrealized
appreciation with respect to employer securities).

 

19

 

(2)           Eligible retirement plan:  An eligible retirement plan is an individual
retirement account described in section 408(a) of the Code, an individual
retirement annuity described in section 408(b) of the Code, an annuity
plan described in section 403(a) of the Code, or a qualified trust
described in section 401(a) of the Code, that accepts the distributee’s
eligible rollover distribution. 
However, in the case of an eligible rollover distribution to a surviving
spouse prior to January 1, 2002, an eligible retirement plan is only an
individual retirement account or individual retirement annuity.

Effective for Eligible Rollover Distributions made
after December 31, 2001, an eligible retirement plan shall also mean an annuity
contract described in section 403(b) of the Code and an eligible plan
under section 457(b) of the Code which is maintained by a state, a
political subdivision of a state, or any agency or instrumentality of a state
or political subdivision of a state which agrees to account separately for
amounts transferred into such plan from this Plan.

(3)           Distributee:  A distributee includes an employee or former
employee.  In addition, the employee’s
or former employee’s surviving spouse and the employee’s or former employee’s
spouse or former spouse who is the alternate payee under a Qualified Domestic
Relations Order are distributees with regard to the interest of the spouse or
former spouse.

(4)           Direct rollover:  A direct rollover is a payment by the Plan
to the eligible retirement plan specified by the distributee.

 

20

 

SECTION 6

 

DEATH
AND DISABILITY BENEFITS

6.1           Spouse’s Death Benefit.

In the event a vested Participant dies before his or
her Annuity Starting Date, his or her spouse shall receive a pre-retirement
death benefit.  The amount of the
spouse’s benefit and time of commencement is described below.  The spouse of a nonvested Participant, or of
a Participant who dies on or after his or her Annuity Starting Date, is not
entitled to this death benefit.

(a)           Death After Earliest Retirement
Date

If the Participant dies before his or her Annuity
Starting Date and after his or her Earliest Retirement Date, the spouse’s
benefit shall be paid monthly from the first of the month coinciding with or
following the Participant’s death through the first of the month preceding the
spouse’s death.  For purposes of this
Section 6.1, a Participant’s “Earliest Retirement Date” means the earliest
date on which he or she could have elected to receive benefits under
Section 3 or Section 7.2, based on his or her actual Period of
Service at death.  The benefit shall
equal 45% (or, if the Participant dies after electing a 100% Joint and Survivor
Annuity under Section 5.2(a) during the 90-day period ending on the
first of the month coinciding with or following the Participant’s death, 80%)
of the benefit in the form of a single life annuity to which the Participant
would have been entitled if his or her Retirement Date were immediately before
the date of his or her death.

(b)           Death Prior to Earliest Retirement
Date and Termination

If the Participant Terminates due to death and prior
to his or her Earliest Retirement Date, the spouse’s benefit shall be paid
monthly from the Participant’s Earliest Retirement Date through the first of
the month preceding the spouse’s death. 
The benefit shall equal 45% (or, if the Participant dies after electing
a 100% Joint and Survivor Annuity under Section 5.2(a) during the 90-day
period ending on his or her Earliest Retirement Date, 80%) of the benefit to
which the Participant would have been entitled at his or her Earliest
Retirement Date.  The Participant shall
be deemed to continue accruing Periods of Service and Credited Service until
the Earliest Retirement Date.

(c)           Death Prior to Earliest Retirement
Date and After Termination

If the Participant dies following Termination but
prior to his or her Earliest Retirement Date, the spouse’s benefit shall be
paid monthly from the Participant’s

 

21

 

Earliest Retirement Date through the first of the
month preceding the spouse’s death.  The
Earliest Retirement Date shall be determined as if he or she had survived but
not accrued Periods of Service or Credited Service past date of death.  The benefit shall equal 45% (or, if the
Participant dies after electing a 100% Joint and Survivor Annuity under
Section 5.2(a) during the 90-day period ending on his or her
Earliest Retirement Date, 80%) of the benefit to which the Participant would
have been entitled at his or her Earliest Retirement Date.  If the Participant has not had an hour of
service on or after January 1, 1976, the Participant is not eligible for a benefit
under this paragraph.

(d)           Spousal Consent to Annuity
Commencement

Notwithstanding the provisions of paragraphs (a)
through (c) above, survivor annuity payments under this Section 6.1 shall
not commence prior to the date on which the Participant would have attained his
Regular Retirement Date (or, if earlier, the later of age 65 or the fifth
anniversary of the Participant’s commencement of participation in the Plan)
unless the spouse consents to the commencement of such payments at an earlier
date.  If the spouse elects to defer
commencement of the survivor annuity beyond the date otherwise provided under
paragraphs (a) through (c), the amount of the survivor annuity shall be
adjusted to reflect the amount of the Joint and Survivor Annuity which would
have been payable to the Participant on such deferred commencement date.

(e)           Benefit Payable to Child

If this Section 6.1 would apply to a Participant
but for the fact that there is no surviving spouse, and if such Participant is
survived by a child under age twenty-one, then the monthly benefit provided for
in paragraphs (a) through (c) above shall be paid to such child until the
first day of the month in which he or she attains age twenty-one; and if there
are two or more such children, the benefit shall be divided equally among them;
and if any of such children’s benefits cease by virtue of their attaining age
twenty-one, the benefits shall be divided equally among the remaining eligible
children.  The monthly benefit payable
under this paragraph shall commence on the first of the month coinciding with
or following the Participant’s death, and the benefit shall not be Actuarially
adjusted to reflect immediate commencement.

6.2           Disability
Benefits.

Periods of Disability up to a maximum of ten years,
or, if less, the number of years during which a Participant is entitled to
receive disability benefits under the Employer’s voluntary disability plan,
shall be included for purposes of determining Periods of Service for vesting
and for Credited Service.

 

22

 

SECTION 7

 

VESTING

7.1           Vesting.

Each Participant shall have a vested, nonforfeitable
right to his or her Accrued Benefit multiplied by the appropriate vesting
percentage in accordance with the following table:

	
  Period of

  	
   

  	
  Percent Vested

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Less than 5
  years

  	
   

  	
  0%

  	
   

  
	
  5 years or more

  	
   

  	
  100%

  	
   

  

In addition, each employee shall have a I 00%
nonforfeitable right to his or her Accrued Benefit upon attaining age 65 while
in the service of the Employer.  An
employee who Terminates with a 0% vested benefit shall be deemed “nonvested”.

7.2           Deferred Vested Benefit.

A Participant who Terminates with a vested Accrued
Benefit prior to his or her Regular or Early Retirement Date shall be entitled
to receive his or her vested Accrued Benefit Actuarially adjusted for form of
payment and any prior distributions, commencing on his or her Regular
Retirement Date.

Payment of a Participant’s vested Accrued Benefit,
reduced in accordance with the factors set forth in Section 4.3 and
Actuarially adjusted for form of payment and any prior distributions, shall
commence not later than the 60th day after the close of the Plan Year in which
occurs the latest of

(a)           the date the Participant attains age
65;

(b)           the tenth anniversary of the
Participant’s commencement of participation in the Plan; or

(c)           the date the Participant Terminates.

Notwithstanding the preceding sentence, a Participant
may elect to defer commencement of benefits until his or her Regular Retirement
Date, if later.  For this purpose, the
Participant’s failure to apply for benefits shall be deemed an election to
defer commencement of benefit payments to his or her Regular Retirement Date.

A Participant who Terminates after completing a
fifteen- (15-)year Period of Service but prior to age 55 may elect to
commence receiving his or her vested Accrued

 

23

 

Benefit, reduced in accordance with the factors set
forth in Section 4.3 and Actuarially adjusted for form of payment and any
prior distributions, on the first day of any month coinciding with or following
the date he or she attains age 55.

7.3           Forfeitures.

Any forfeitures arising
under this Plan shall be used only to offset future Employer contributions and
shall not affect any Participant’s Accrued Benefit.

 

24

 

SECTION 8

 

LIMITATIONS
ON BENEFITS

8.1           Limitations re Highly Compensated
Employees.

(a)           Restriction of Benefits.  In the event of Plan termination, the
benefit of any highly compensated employee (as defined in section 414(q)
of the Code and regulations thereunder, including any highly compensated former
employee) shall be limited to a benefit which is nondiscriminatory under
section 401(a)(4) of the Code.

(b)           Restrictions on Distribution.  Annual payments to a Restricted Participant
shall be restricted to an amount equal to the payments that would be made on
behalf of such Restricted Participant under a single life annuity which is
Actuarially Equivalent to the sum of the Restricted Participant’s Accrued
Benefit and his or her other Benefits under the Plan.  However, the restrictions of this paragraph (b) shall not
apply if:

(i)            After payment to such Restricted
Participant of all Benefits, the value of Plan assets equals or exceeds 110
percent of the value of current liabilities (as defined in
section 412(l)(7) of the Code); or

(ii)           The value of the Benefits for such
Restricted Participant is less than one percent of the value of current
liabilities.

(c)           Definitions.  The following definitions shall apply for
purposes of this Section 8.1:

(i)            Restricted Participant means,
for any Plan Year, any highly compensated employee or highly compensated former
employee, as defined in section 414(q) of the Code and the regulations
thereunder; provided, however, that for any Plan Year, the total number of
Restricted Participants shall be limited to a group of 25 highly compensated
employees and highly compensated former employees.  Such group shall consist of those highly compensated employees and
highly compensated former employees with the greatest compensation.

(ii)           Benefit shall include loans in
excess of the amounts set forth in section 72(p)(2)(A) of the Code, any
periodic income, any withdrawal values payable to a living employee, and any
death benefits not provided for by insurance on the employee’s life.

 

25

 

(d)           Inapplicability of Restrictions.  In the event that the provisions of this
Section 8.1 are no longer necessary to qualify this Plan under
section 401(a) of the Code, this Section 8.1 shall be ineffective
without amendment to the Plan.

8.2           Maximum Annual Benefit Payable
Under the Plan.

Anything to the contrary notwithstanding, a
Participant’s annual benefit shall not exceed the lesser of the Defined Benefit
Dollar Limitation (or, if greater, the Participant’s Accrued Benefit on
December 31, 1982), or one hundred percent (100%) of the Participant’s average
compensation during the three (3) consecutive Plan Years when his or her
compensation was the highest.  Subject
to the following:

(a)           A Participant’s annual benefit shall
mean the benefit payable annually in the form of a straight life annuity (with
no ancillary benefits), within the meaning of section 415(b)(2) of the
Code, determined in accordance with the following:

(i)            Except as provided herein, a
Participant’s retirement benefit under the Plan shall, for purposes of applying
the limitations of this Section 8.2, be adjusted to a straight life
annuity beginning at the same age which is the Actuarial Equivalent of such
benefit in accordance with rules determined by the Commissioner of Internal
Revenue.  For purposes of making the
foregoing adjustment to a straight life annuity, there shall not be taken into
account the value of a qualified Joint and survivor annuity provided under the
Plan to the extent that such value exceeds the sum of (A) the value of a
straight life annuity beginning on the same date and (B) the value of any
post-retirement death benefits which would be payable even if the annuity was
not in the form of a joint and survivor annuity.

(ii)           For purposes of subparagraph (i)
above, the annual benefit in the form of a straight life annuity commencing at
the same age that is Actuarially Equivalent to the Plan benefit shall be the
greater of the equivalent annual benefit computed using the mortality table and
interest rate specified in Section 1.2 and the equivalent annual benefit
computed using the Applicable Mortality Table and an interest rate of five
percent (or, in the case of a benefit in a form that is subject to
section 417(e)(3) of the Code, the Applicable Interest Rate).

(b)           The “Defined Benefit Dollar
Limitation” shall mean, except as otherwise provided in this Section 8.2:

 

26

 

(i)            Except as provided in subparagraph (ii)
below, $90,000 (as adjusted by the Secretary of the Treasury under
section 415(d) of the Code for increases in the cost of living); and

(ii)           On and after January 1, 2002, with
respect to any Participant who has an Hour of Service on or after such date,
$160,000, as adjusted under section 415(d) of the Code, effective as of
January 1 of each year, in such manner as the Secretary of the Treasury shall
prescribe, and payable in the form of a straight life annuity.

For purposes of this paragraph (b), a limitation
as adjusted under section 415(d) of the Code shall apply to Limitation
Years ending with or within the calendar year for which the adjustment applies.

(c)           If the Participant has less than ten
(10) years of employment with the Employer, the 100% of average compensation
limitation referred to in this Section 8.2 shall be reduced by multiplying
it by a fraction which has a numerator equal to the Participant’s years of
employment (including fractions thereof) and which has a denominator equal to
ten (10).

(d)           If the Participant has been a
Participant in the plan for fewer than ten (10) years, the Defined Benefit
Dollar Limitation shall be reduced by multiplying it by a fraction which has a
numerator equal to the Participant’s years of participation (including
fractions thereof) and which has a denominator equal to ten (10).

(e)           The Defined Benefit Dollar
Limitation, as reduced under paragraph (d) above, if necessary, shall be
adjusted in accordance with the following, to the extent applicable:

(i)            If benefit payments commence before
the Participant reaches the Social Security retirement age, and on or after age
62, the Defined Benefit Dollar Limitation shall be reduced by (A) in the case
of a Participant whose Social Security retirement age is 65, 5/9 of one percent
for each month by which benefits commence before the month in which the
Participant attains age 65, or (B) in the case of a Participant whose Social
Security retirement age is greater than 65, 5/9 of one percent for each of the
first 36 months and 5/12 of one percent for each of the additional months (up
to 24 months) by which benefits commence before the month in which the
Participant attains the Social Security retirement age; provided, however, that
this subparagraph (i) shall not apply effective January 1, 2002, with
respect to any Participant who has an Hour of Service on or after such date.

 

27

 

(ii)           If benefit payments commence before
the Participant reaches age 62, the Defined Benefit Dollar Limitation at age 62
(as reduced under subparagraph (i) above, if necessary) shall be adjusted
so that it is the Actuarial Equivalent of the limitation at age 62.  For purposes of this subparagraph (ii),
the reduced limitation that is the Actuarial Equivalent of such limitation at
age 62 shall be the lesser of the equivalent amount using the interest rate and
mortality table specified in Section 1.2, or the equivalent amount using
an interest rate of five percent and the Applicable Mortality Table.

(iii)          Prior to January 1, 2002, if benefit
payments commence after the Participant reaches the Social Security retirement
age, the Defined Benefit Dollar Limitation shall be increased so that it is the
Actuarial Equivalent of an annual benefit equal to the Defined Benefit Dollar
Limitation beginning at the Participant’s Social Security retirement age.  On and after January 1, 2002, with respect
to any Participant who has an Hour of Service on or after such date, if benefit
payments commence after the Participant reaches age 65, the Defined Benefit
Dollar Limitation (as reduced under paragraph (d) above, if necessary),
shall be increased so that it is the Actuarial Equivalent of an annual benefit
equal to the Defined Benefit Dollar Limitation beginning at age 65.  For purposes of this
subparagraph (iii), the increased limitation that is the Actuarial
Equivalent of such limitation at the Social Security retirement age shall be
the lesser of the equivalent amount using the interest rate and mortality table
specified in Section 1.2, or the equivalent amount using an interest rate
of five percent and no mortality decrement.

All adjustments shall be made in accordance with the
provisions of section 415 of the Code, regulations promulgated thereunder,
and any IRS publications concerning section 415.

(f)            The term “compensation” as used in
this Section 8.2 shall be defined as per Internal Revenue Service
Regulation 1.415-2(d)(2) and (3), but shall include, effective January 1,
1998, any contributions made by the Employer on behalf of an employee, by
salary reduction pursuant to the employee’s election, to a cash or deferred
arrangement described in section 401(k) of the Code, a cafeteria plan as
defined in section 125(d) of the Code, or a qualified transportation fringe
described in section 132(f)(4) of the Code.

(g)           The Plan Year shall be the
“limitation year” for purposes of section 415 of the Code.

(h)           This Section 8.2, as amended to
comply with section 415(b)(2) of the Code as amended by the Retirement
Protection Act of

 

28

 

1994, the Small Business Job Protection Act of 1996,
and the Taxpayer Relief Act of 1997 (collectively, “GATT”), shall not apply to
benefits accrued before January 1, 2000 (“Old-Law Benefits”).  After December 31, 1999, the limitations of
this Section 8.2, as amended to comply with GATT, shall apply to a
Participant’s total accrued benefit, provided that, in any event, the
Participant shall receive no less than his or her Old-Law Benefit, limited to
the extent required under Q/A-15 of Rev. Rule. 98-1, in accordance
with Method 2 of Q/A-14 of Rev. Rule. 98-1.

 

29

 

SECTION 9

 

TOP
HEAVY PROVISIONS

9.1           Scope.

Notwithstanding any Plan provision to the contrary,
for any Plan Year in which the Plan is Top Heavy within the meaning of
section 416(g) of the Code, the provisions of this Section 9 shall
govern to the extent they conflict with or specify additional requirements to
the Plan provisions governing Plan Years which are not Top Heavy.

9.2           Top Heavy Status.

(a)           Top Heavy

This Plan shall be “Top Heavy” for Plan Years
commencing after December 31, 1983, if, as of the Determination Date, (i) the
sum of the Aggregate Accounts of Key Employees, or (ii) the Present Value of
Accrued Benefits of Key Employees under this Plan and any plan of an
Aggregation Group, exceeds 60% of the Aggregate Accounts or the Present Value
of Accrued Benefits of all Participants under this Plan and any plan of an
Aggregation Group.

The Present Value of Accrued Benefits and/or Aggregate
Account balance of a Participant shall not be taken into account for purposes
of determining Top Heavy status:

(i)            If the Participant was previously a
Key Employee but is no longer a Key Employee;

(ii)           For Plan Years beginning prior to
January 1, 2002, if the Participant has not been credited with at least one
Hour of Service with the Employer at any time during the Plan Year containing
the Determination Date or any of the four preceding Plan Years; and

(iii)          For Plan Years beginning on or after
January 1, 2002, if the Participant has not been credited with at least one
Hour of Service during the one year period ending on the Determination Date.

(b)           Determination Date

Whether the Plan is Top Heavy for any Plan Year shall
be determined as of the Determination Date. 
“Determination Date” means (i) the last day of the preceding Plan Year,
or (ii) in the case of the first Plan Year, the last day of such Plan Year.

 

30

 

(c)           Valuation Date

“Valuation Date” means, for purposes of determining
Top Heaviness, the Determination Date.

(d)           Aggregate Account

“Aggregate Account” means, with respect to a
Participant, his or her adjusted account balance in a defined contribution
plan, as determined under the top heavy provisions of such plan.

(e)           Present Value of Accrued Benefits

“Present Value of Accrued Benefits” means the sum of:

(i)            the Actuarial Equivalent present
value of the accrued normal retirement benefit under the Plan as of the
Valuation Date; and

(ii)           in determining whether the Plan is
Top Heavy for Plan Years beginning prior to January 1, 2002, distributions
prior to the Valuation Date, made during the Plan Year that contains the
Determination Date and the four preceding Plan Years; and

(iii)          in determining whether the Plan is Top
Heavy for Plan Years beginning on or after January 1, 2002, (A) any part of any
distribution made during the one-year period ending on the Determination Date
on account of separation from service, death, or disability, and (B) any
part of any distribution, for any reason other than separation from service,
death, or disability, during the five-year period ending on the Determination
Date.

The amounts in subparagraphs (ii) and (iii) above
shall include distributions under a terminated plan which, had it not been
terminated, would have been aggregated with the Plan under
section 416(g)(2)(A)(i) of the Code.

Unrelated rollovers or transfers shall be considered
distributions.  A related rollover or
transfer shall not be considered a distribution.  An unrelated rollover or transfer is one which is both initiated
by the employee and made between plans of different employers.  A related rollover or transfer is one which
is either not initiated by the employee or made between plans of the same
employer.

For purposes of subparagraph (i) above, the
Present Value of Accrued Benefits shall include benefits attributable to
voluntary or mandatory employee contributions, unrelated rollovers or transfers
accepted prior to January 1, 1984, and

 

31

 

related rollovers or transfers accepted at any
time.  The present value of accrued
benefits shall not include benefits attributable to voluntary deductible
employee contributions, or unrelated rollovers or transfers accepted after
January 1, 1984.

Solely for the purpose of determining if the Plan, or
any other plan included in a required aggregation group of which this Plan is a
part, is Top Heavy, the accrued benefit of an employee other than a Key
Employee shall be determined under (i) the method, if any, that uniformly
applies for accrual purposes under all plans maintained by the Employer, or
(ii) if there is no such method, as if such benefit accrued not more rapidly
than the slowest accrual rate permitted under the fractional accrual rate of
section 411(b)(1)(C) of the Code.

(f)            Key Employee

“Key Employee” shall be determined as follows:

(i)            For purposes of determining whether
the Plan is Top Heavy for Plan Years beginning prior to January 1, 2002, a “Key
Employee” is any employee or former employee of the Employer who, at any time
during the Determination Period, is:

(A)          an officer of the Employer whose
annual compensation (as defined in section 414(q)(4) of the Code) exceeds
50% of the dollar limitation under section 415(b)(1)(A) of the Code;

(B)           one of the ten employees owning the
largest interest in the Employer who owns more than a 0.5% interest of the
Employer, and who earns more than the dollar limitation under
section 415(c)(1)(A) of the Code;

(C)           an employee who owns more than 5% of
the Employer; or

(D)          an employee who owns more than 1% of
the Employer with annual compensation from the Employer that exceeds $150,000.

(ii)           For purposes of determining whether
the Plan is Top Heavy for Plan Years beginning on and after January 1, 2002, a
“Key Employee” is any employee or former employee of an Employer who, at any
time during the Plan Year that includes the Determination Date, is:

(A)          an officer of the Employer whose
annual compensation (as defined in section 415(c)(3) of the Code) is
greater than

 

32

 

$130,000 (as adjusted under section 416(i)(1) of
the Code for Plan Years beginning after December 31, 2001);

(B)           an employee who owns more than 5% of
the Employer; or

(C)           an employee who owns more than 1% of
the Employer with annual compensation from the Employer that exceeds $150,000.

(iii)          The Beneficiaries of a Key Employee
shall also be considered Key Employees.

(iv)          For purposes of
subparagraph (i)(A) and subparagraph (ii)(A), no more than 50
employees (or, if less, the greater of three or 10% of the employees) shall be
treated as officers.

(v)           For purposes of
subparagraph (i)(B), if two employees have the same interest in the
Employer, the employee having the greater annual compensation from the Employer
shall be treated as having the larger interest.

(vi)          The determination of who is a Key
Employee shall be made in accordance with section 416(i)(1) of the Code
and the Treasury regulations thereunder.

(g)           Aggregation Group

“Aggregation Group” means the group of plans that must
be considered as a single plan for purposes of determining whether the plans
within the group are Top Heavy (Required Aggregation Group), or the group of
plans that may be aggregated for purposes of Top Heavy testing (Permissive
Aggregation Group).  The Determination
Date for each plan must fall within the same calendar year in order to
aggregate the plans.

(i)            The Required Aggregation Group includes
each plan of the Employer in which a Key Employee is a participant in the Plan
Year containing the Determination Date (or, for purposes of determining whether
the Plan is Top Heavy for Plan Years beginning prior to January 1, 2002,
any of the four preceding Plan Years), and each other plan of the Employer
which, during this period, enables any plan in which a Key Employee
participates to meet the minimum participation standards or nondiscriminatory
contribution requirements of sections 401(a)(4) and 410 of the Code.

 

33

 

(ii)           A Permissive Aggregation Group may
include any Employer-sponsored plan, provided the group as a whole continues to
satisfy the minimum participation standards and nondiscriminatory contribution
requirements of sections 401(a)(4) and 410 of the Code.

Each plan belonging to a Required Aggregation Group
shall be deemed Top Heavy, or non-Top Heavy in accordance with the group’s
status.  In a Permissive Aggregation
Group that is determined Top Heavy only those plans that are required to be
aggregated shall be Top Heavy.  In a
Permissive Aggregation Group that is not Top Heavy, no plan in the group shall
be Top Heavy.

9.3           Minimum
Benefit.

(a)           General Rule

For any Top Heavy Plan Year, a non-Key Employee shall
have an Accrued Benefit at least equal to the minimum benefit described
herein.  The minimum Accrued Benefit at
any point in time equals the lesser of:

(i)            two percent multiplied by Top Heavy
Periods of Service; or

(ii)           twenty percent,

multiplied by such Participant’s “Average
Compensation.” “Average Compensation” means a Participant’s compensation as
described in section 415 of the Code, as limited by
section 401(a)(17) of the Code, for the five consecutive years when such
Participant had the highest aggregate compensation from the Employer.  However, compensation received for non-Top
Heavy Plan Years shall be disregarded. 
The benefit described herein is expressed as an annual benefit in the
form of a single life annuity (with no ancillary benefits), commencing at
normal retirement age.

A non-Key Employee shall not be denied this minimum
benefit because he or she was not employed on a specified date, failed to make
any mandatory employee contributions, or failed to earn a specified amount of
compensation.

For purposes of satisfying the minimum benefit
requirements of section 416(c)(1) of the Code and this Section 9.3
with respect to Plan Years beginning after December 31, 2001, in determining
Top Heavy Periods of Service, any service with the Employer shall be
disregarded to the extent that such Periods of Service occur during a Plan Year
when the Plan benefits (within the

 

34

 

meaning of
section 410(b) of the Code) no Key Employee or former Key Employee.

(b)           Special Two Plan Rule

Where this Plan and a defined contribution plan belong
to an Aggregation Group that is determined Top Heavy, the minimum benefit
required under (a) above for any non-Key Participant who also participates in
the defined contribution plan shall be reduced by the minimum contribution and
forfeiture allocated to the non-Key Participant’s accounts pursuant to the
defined contribution plan’s top heavy provisions.  Such offset shall be in accordance with the safe harbor rules of
Treas. Reg. §1.416-1 (M-12).

9.4           Vesting.

(a)           Top Heavy Schedule

For any Top Heavy Plan Year, each Participant who
completes an Hour of Service in such Year shall become vested and have a
nonforfeitable right to retirement benefits he or she has earned under the Plan
in accordance with the following table, provided, however, that a Participant’s
vesting percentage shall not be less than the percentage determined under the
table in Section 7.1:

	
  Periods of
  Service

  	
   

  	
  Vesting Percentage

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Less than 2 years

  	
   

  	
  0%

  	
   

  
	
  2 years

  	
   

  	
  20%

  	
   

  
	
  3 years

  	
   

  	
  40%

  	
   

  
	
  4 years

  	
   

  	
  60%

  	
   

  
	
  5 years

  	
   

  	
  80%

  	
   

  
	
  6 years or more

  	
   

  	
  100%

  	
   

  

 

(b)           Return to Non-Top Heavy Status

If the Plan becomes Top Heavy and ceases to be Top
Heavy in any subsequent Plan Year, the vesting schedule shall revert to the
vesting schedule in effect before the Plan became Top Heavy.  Any such reversion shall be treated as a
Plan amendment pursuant to the terms of the Plan, and shall not cause a
reduction of any Participant’s nonforfeitable interest in the Plan on the date
of such amendment.

In the event of such reversion, or in the event the
Retirement Committee elects to amend the Top Heavy vesting schedule, a
Participant with three or more years of service with the Employer as of the end
of the election

 

35

 

period may elect to
remain covered by the Top Heavy vesting schedule.  If a Participant fails to make such election, then such
Participant shall be subject to the new vesting schedule.  The Participant’s election period shall
commence on the adoption date of the amendment and shall end 60 days after the
latest of:

(i)            the adoption date of the amendment;

(ii)           the effective date of the amendment;
or

(iii)          the date the Participant receives
written notice of the amendment from the Retirement Committee.

 

36

 

SECTION 10

 

ADMINISTRATION
OF THE PLAN

10.1         Plan
Administrator.

The Plan Administrator shall be VWR which, by action
of its Board of Directors, shall appoint a Retirement Committee composed of at
least three persons.  Every member of
VWR’s Board of Directors and the Retirement Committee shall be deemed a
fiduciary.  No Retirement Committee
member who is an employee shall receive compensation with respect to his or her
service on the Retirement Committee. 
Any member of the Retirement Committee may resign by delivering written
resignation to VWR and to the Retirement Committee.  VWR may remove or replace any member of the Retirement Committee
at any time.

10.2         Organization
and Procedures.

VWR shall designate a chairman from the members of the
Retirement Committee.  The Retirement
Committee shall appoint a secretary, who may or may not be a member of the
Retirement Committee.  The secretary
shall have the primary responsibility for keeping a record of all meetings and
acts of the Retirement Committee and shall have custody of all documents, the
preservation of which shall be necessary or convenient to the efficient
functioning of the Retirement Committee. 
The chairman of the Retirement Committee shall be the agent of the Plan
for service of legal process.  All
reports required by law may be signed by the chairman on behalf of all members
of the Retirement Committee.

The Retirement Committee shall act by a majority of
its members in office, either by a vote at a meeting or in writing without a
meeting, and may adopt such by-laws and regulations as it deems desirable for
the conduct of its affairs.

10.3         Duties
and Authority.

(a)           Administrative Duties

The Retirement Committee shall administer the Plan in
a nondiscriminatory manner for the exclusive benefit of Participants and their
Beneficiaries.  The Retirement Committee
shall perform all such duties as are necessary to supervise the administration
of the Plan and to control its operations in accordance with the terms thereof,
including, but not limited to, the following:

(i)            Interpret the provisions of the Plan
and determine any question arising under the Plan, or in connection with the
administration or operation thereof;

 

37

 

(ii)           Determine all considerations
affecting the eligibility of any employee to be or become a Participant;

(iii)          Determine eligibility for and amount
of retirement benefits for any Participant;

(iv)          Authorize and direct the Funding Agent
with respect to all disbursements of benefits under the Plan;

(v)           Employ and engage such persons,
counsel, and agents and to obtain such administrative, clerical, medical,
legal, audit, and actuarial services as it may deem necessary in carrying out
the provisions of the Plan.

(b)           Investment Authority

The Retirement Committee shall have no responsibility
or authority with respect to the management, acquisition, disposition or
investment of Plan assets.  Such shall
be the sole function and responsibility of the Board of Directors of VWR except
to the extent delegated by the Board to the Funding Agent and/or designated
Investment Manager.

(c)           General Authority

The Retirement Committee shall have all powers
necessary or appropriate to carry out its duties.  The Retirement Committee shall have sole discretion to carry out
its responsibilities under the Plan to construe and interpret the provisions of
the Plan and to determine all questions concerning benefit entitlements,
including the power to construe and interpret disputed or doubtful terms.  To the maximum extent permissible under law,
any interpretation or construction of or action by the Retirement Committee
with respect to the Plan and its administration shall be conclusive and binding
upon any and all parties and persons affected hereby, subject to the exclusive
appeal procedure set forth in Section 10.6.

10.4         Expenses
and Assistance.

All reasonable expenses which are necessary to operate
and administer the Plan may be deducted from the Fund or paid directly by the
Employer, at the Employer’s discretion.

 

38

 

10.5         Claims
Procedure.

(a)           Conditions of Payment

Benefit payments under the Plan shall not be payable
prior to the fulfillment of the following conditions:

(i)            The Retirement Committee has been
furnished with such applications, proofs of birth, address, form of benefit,
and other information the Retirement Committee deems necessary;

(ii)           Except as otherwise provided in
Section 3.4, the Participant has Terminated employment with the Employer;

(iii)          The Participant is eligible to receive
benefits under the Plan as determined by the Retirement Committee.

(b)           Commencement of Payment

The payment of benefits shall commence no later than
60 days after the retirement date specified herein for commencement of such
benefits.  If the information required
above is not available prior to said retirement date, the amount of payment
required to commence will not be ascertainable.  In such event, the commencement of payments shall be delayed
until no more than 60 days after the date the amount of such payment is
ascertainable, at which time a lump-sum payment retroactive to the applicable
retirement date shall be made and monthly payments shall commence.

10.6         Appeal
Procedure.

(a)           Notice of Denial

The Retirement Committee shall make all determinations
as to the right of any person to a benefit under the Plan.  If the Retirement Committee denies in whole
or in part any claim for a benefit under the Plan by a Participant or
Beneficiary or his or her authorized representative (hereinafter, “Claimant”),
the Retirement Committee shall furnish the Claimant with notice of the decision
not later than 90 days after receipt of the claim, unless special circumstances
require an extension of time for processing the claim.  Such extension shall not exceed the period
of 90 days from the end of such initial period; provided, however, that in the
event the Claimant fails to submit information necessary to decide a claim,
such period shall be tolled from the date on which the extension notice is sent
to the Claimant until the date on which the Claimant responds to the request
for additional information.  The
extension notice shall indicate the special

 

39

 

circumstances requiring
an extension of time and the date by which the Retirement Committee expects to
render the final decision.  The written
or electronic notice which the Retirement Committee shall provide to every
Claimant who is denied a claim for benefits shall set forth in a manner
calculated to be understood by the Claimant:

(i)            The specific reason or reasons for
the denial;

(ii)           Specific reference to pertinent Plan
provisions on which the denial is based;

(iii)          A description of any additional
material or information necessary for the Claimant to perfect the claim and an
explanation of why such material or information is necessary; and

(iv)          A description of the Plan’s review
procedures and the time limits applicable to such procedures, including, with
respect to claims filed on or after January 1, 2002, a statement of the
Claimant’s right to bring a civil action under section 502(a) of ERISA
following an adverse benefit determination on review.

(b)           Right to Request Review

A Claimant may request that the Retirement Committee
review the claim denial by the Retirement Committee.  Such request shall be made in writing and shall be presented to
the Retirement Committee not more than 60 days after receipt by the Claimant of
notification of the denial of a claim. 
If written request for review is not made within such 60-day
period, the Claimant shall forfeit his or her right to review.  The Claimant shall be provided, upon request
and free of charge, reasonable access to, and copies of, all documents,
records, and other information relevant to the Claimant’s claim for
benefits.  The Claimant shall also have
the opportunity to submit written comments, documents, records, and other
information relating to the claim for benefits, and the Retirement Committee
shall take into account all such information submitted without regard to
whether such information was submitted or considered in the initial benefit
determination.

(c)           Review of Claim

The Retirement Committee shall make its decision on
review not later than 60 days after receipt of the Claimant’s request for
review, unless special circumstances require an extension of time, in which
case notice of the extension and circumstances shall be provided to the
Claimant prior to the termination of the initial 60-day period and a
decision shall be rendered as soon as possible but not later than 120 days
after receipt of the request for review; provided, however,

 

40

 

in the event the Claimant
fails to submit information necessary to make a benefit determination on
review, such period shall be tolled from the date on which the extension notice
is sent to the Claimant until the date on which the Claimant responds to the
request for additional information.  The
decision on review shall be written or electronic and, in the case of an
adverse determination, shall include specific reasons for the decision, written
in a manner calculated to be understood by the Claimant, and specific
references to the pertinent Plan provisions on which the decision is
based.  With respect to claims filed on
or after January 1, 2002, the decision on review shall also include (i) a
statement that the Claimant is entitled to receive, upon request and free of
charge, reasonable access to, and copies of, all documents, records, or other
information relevant to the Claimant’s claim for benefits; and (ii) a statement
describing any voluntary appeal procedures offered by the Plan, and a statement
of the Claimant’s right to bring an action under §502(a) of ERISA.

(d)           Regulations

The claims procedure of this Plan also shall be
administered in accordance with the claims procedure regulations of the
Department of Labor.

10.7         Arbitration.

Any controversy or claim arising out of or relating to
this Plan, which is asserted by any person as an employee, a former employee, a
Participant or a Beneficiary of Plan benefits, may be settled by arbitration in
accordance with the Commercial Rules of the American Arbitration Association,
and judgment upon the award rendered by the arbitrator shall be entered in a
court having jurisdiction thereof.  All
such arbitration cases shall be heard by an attorney licensed in the
jurisdiction where the arbitration hearing is to occur.

10.8         Plan Administration — Miscellaneous.

(a)           Limitations on Assignments

Benefits under the Plan may not be assigned, sold,
transferred, or encumbered, and any attempt to do so shall be void.  The interest of a Participant in benefits
under the Plan shall not be subject to debts or liabilities of any kind and
shall not be subject to attachment, garnishment or other legal process, except
as provided in Section 10.9 relating to Qualified Domestic Relations
Orders.  This paragraph (a) shall
not prevent the offset of a Participant’s benefits against an amount that the
Participant is ordered or required to pay to the Plan to the extent permitted
under section 401(a)(13)(C) of the Code.

 

41

 

(b)           Masculine and Feminine, Singular
and Plural

Whenever used herein, pronouns shall include any
applicable gender, and the singular shall include the plural and vice versa
whenever the context shall plainly so require.

(c)           No Additional Rights

No person shall have any rights in or to the Fund, or
any part thereof, or under the Plan, except as, and only to the extent,
expressly provided for in the Plan. 
Neither the establishment of the Plan, the granting of a retirement
allowance nor any action of the Employer or the Retirement Committee shall be
held or construed to confer upon any person any right to be continued as an
employee, or, upon dismissal, any right or interest in the Fund other than as
herein provided.  The Employer expressly
reserves the right to discharge any employee at any time.

(d)           Governing Law

This Plan shall be construed in accordance with
applicable Federal law and the laws of the Commonwealth of Pennsylvania
(without reference to the principles of conflict of laws), wherein venue shall
lie for any dispute arising hereunder.

(e)           Disclosure to Participants

Each Participant shall be advised of the general
provisions of the Plan and, upon written request addressed to the Retirement
Committee, shall be furnished any information requested regarding the
Participant’s status, rights, and privileges under the Plan as may be required
by law.

(f)            Income Tax Withholding
Requirements

Any retirement benefit payment made under the Plan
shall be subject to any applicable income tax withholding requirements.  For this purpose, the Retirement Committee
shall provide the Funding Agent with any information the Funding Agent needs to
satisfy such withholding obligations and with any other information that may be
required by regulations promulgated under the Code.

(g)           Severability

If any provision of this Plan shall be held illegal or
invalid for any reason, such determination shall not affect the remaining
provisions of this Plan,

 

42

 

which shall be construed
as if said illegal or invalid provision had never been included.

(h)           Facility of Payment

In the event any benefit under this Plan shall be
payable to a person who is under legal disability or is in any way
incapacitated so as to be unable to manage his or her financial affairs, the
Retirement Committee may direct payment of such benefit to a duly appointed
guardian, committee or other legal representative of such person, or in the
absence of a guardian or legal representative, to a custodian for such person
under a Uniform Gifts to Minors Act or to any relative of such person by blood
or marriage, for such person’s benefit. 
Any payment made in good faith pursuant to this provision shall fully
discharge the Employer and the Plan of any liability to the extent of such
payment.

(i)            Correction of Errors

Any Employer contribution to the Fund made under a
mistake of fact (or investment proceed of such contribution if a lesser amount)
shall be returned to the Employer within one year after payment of the
contribution.

In the event an incorrect amount is paid to a
Participant or Beneficiary, any remaining payments may be adjusted to correct
the error.  The Retirement Committee may
take such other action it deems necessary and equitable to correct any such
error.

(j)            Military Service

Effective December 12, 1994, or such later date as the
requirements of the Uniformed Services Employment and Reemployment Act of 1994
shall first become applicable to the Plan, notwithstanding any provision of
this Plan to the contrary, contributions, benefits, and service credit with respect
to qualified military service shall be provided in accordance with
section 414(u) of the Code.

(k)           EGTRRA Amendments

Certain provisions of the Plan as amended and restated
herein are adopted to reflect provisions of the Economic Growth and Tax Relief
Reconciliation Act of 2001 (“EGTRRA”). 
Such provisions are intended as good faith compliance with the
requirements of EGTRRA and are to be construed in accordance with EGTRRA and
guidance issued thereunder.

 

43

 

10.9         Qualified
Domestic Relations, Orders.

Notwithstanding any Plan provisions to the contrary,
benefits under the Plan may be paid to someone other than the Participant,
Beneficiary or joint annuitant, pursuant to a Qualified Domestic Relations Order,
in accordance with section 414(p) of the Code.  A Qualified Domestic Relations Order is one that:

(a)           relates to the provision of child
support, alimony payments or marital property rights to a spouse, former
spouse, child or other dependent of a Participant;

(b)           is made pursuant to a state domestic
relations law (including a community property law);

(c)           creates or recognizes the existence
of an alternate payee’s right to, or assigns to an alternate payee the right
to, receive all or a portion of the benefits payable to a Participant under the
Plan;

(d)           specifies the name and last known
address of the Participant and each alternate payee;

(e)           specifies the amount or method of
determining the amount of benefit payable to an alternate payee;

(f)            specifies the number of payments or
period during which payments are to be made;

(g)           names each plan to which the order
applies;

(h)           does not require any form, type or
amount of benefit not otherwise provided under the Plan; and

(i)            does not conflict with a prior Qualified
Domestic Relations Order that meets the requirements of this Section 10.9.

Payments to an alternate payee pursuant to a Qualified
Domestic Relations Order may commence at the earliest date on which a
Participant is eligible to elect an Early Retirement Date, regardless of
whether the Participant continues working after that date.

The Retirement Committee shall determine whether an
order meets the requirements of this Section 10.9 within a reasonable
period after receiving an order.  The
Retirement Committee shall notify the Participant and any alternate payee that
an order

 

44

 

has been received and shall establish a separate
account under the Plan for any alternate payee pending determination that an
order meets the requirements of this Section 10.9.

10.10       Plan
Qualification.

Any modification or amendment of the Plan may be made
retroactive, as necessary or appropriate, to establish and maintain a
“qualified plan” pursuant to section 401 of the Code and ERISA and
regulations thereunder and to maintain the exempt status of the Fund under
section 501 of the Code.

10.11       Deductible
Contribution.

Notwithstanding anything herein to the contrary, any
contribution by the Employer to the Fund is conditioned upon the deductibility
of the contribution by the Employer under the Code and, to the extent any such
deduction is disallowed, the Employer may within one year following a final
determination of the disallowance, demand repayment of such disallowed contribution
and the Funding Agent shall return such contribution less any losses
attributable thereto within one year following the disallowance.

10.12       Action by VWR.

Any action required to be taken by VWR under the Plan,
including the amendment or termination of the Plan under Section 11, shall
be taken pursuant to a written resolution of the Board of Directors of VWR.

 

45

 

SECTION 11

 

AMENDMENT
AND TERMINATION

11.1         Amendment
General.

VWR shall have the right to amend, terminate, or
partially terminate this Plan at any time subject to any advance notice or
other requirements of ERISA.  No
amendment shall decrease a Participant’s accrued benefit.

11.2         Amendment
— Consolidation or Merger.

In the event this Plan, its assets and its liabilities
are merged into, transferred to or otherwise consolidated with any other
retirement plan, then such must be accomplished so as to ensure that each
Participant would (if the other retirement plan then terminated) receive a
benefit immediately after the merger, transfer or consolidation, which is equal
to or greater than the benefit the Participant would have been entitled to
receive immediately before the merger, transfer or consolidation (as if the
Plan had then terminated).  This provision
shall not be construed as limiting the powers of VWR to appoint a successor
Funding Agent.

11.3         Termination
of the Plan.

The termination of the Plan shall not cause or permit
any part of the Fund to be diverted to purposes other than for the exclusive
benefit of the Participants and their Beneficiaries, or cause or permit any
portion of the Fund to revert to or become the property of the Employer at any
time prior to the satisfaction of all liabilities with respect to the
Participants.

Upon termination of this Plan, the Retirement
Committee shall continue to act for the purpose of complying with the preceding
paragraph and shall have all power necessary or convenient to the winding up
and dissolution of the Plan as herein provided.  While so acting, the Retirement Committee shall be in the same
status and position with respect to other persons as if the Plan remained in
existence.

11.4         Allocation of the Fund on
Termination of Plan.

In the event of a complete Plan termination, the right
of each Participant to benefits accrued to the date of such termination that
would be vested under the provisions of the Plan in the absence of such
termination shall continue to be vested and nonforfeitable; and the right of
each Participant to any other benefits accrued to the date of termination shall
be fully vested and nonforfeitable to the extent then funded under the priority
rules set forth in section 4044 of ERISA. 
In any event, a Participant or a Beneficiary shall have recourse only
against Plan assets for the payment of benefits

 

46

 

thereunder, subject to any applicable guarantee
provisions of Title IV of ERISA.  The
Retirement Committee shall direct the Funding Agent to allocate Fund assets to
those affected Participants to the extent and in the order of preference set
forth in section 4044 of ERISA. 
The assets so allocated shall be distributed, in the discretion of the
Retirement Committee, either wholly or in part by purchase of nontransferable
annuity contracts or lump-sum payments. 
If Fund assets as of the date of Plan termination exceed the amounts
required under the priority rules set forth in section 4044 of ERISA, such
excess shall, after all liabilities of the Plan have been satisfied, revert to
the Employer to the extent permitted by applicable law.

If at any time the Plan is terminated with respect to
any group of Participants under such circumstances as to constitute a partial
Plan termination within the meaning of section 411(d)(3) of the Code, each
affected Participant’s right to benefits that have accrued to the date of
partial termination that would be vested under the provisions of the Plan in
the absence of such termination shall continue to be so vested; and the right
of each affected Participant to any other benefits accrued to the date of such
termination shall be vested to the extent then funded under the priority rules
set forth in section 4044 of ERISA in the event of a complete Plan
termination.  In any event, affected
Participants shall have recourse only against Plan assets for payment of
benefits thereunder, subject to any applicable guarantee provisions of Title IV
of ERISA.  Subject to the foregoing, the
vested benefits of such Participants shall be payable as though such
termination had not occurred; provided, however, that the Retirement Committee,
in its discretion, subject to any necessary governmental approval, may direct
that the amounts held in the Fund that are allocable to the Participants as to
whom such termination occurred be segregated by the Funding Agent as a separate
plan.  The assets thus allocated to such
separate plan shall be applied for the benefit of such Participants in the
manner described in the preceding paragraph.

 

47

 

SECTION 12

 

FUNDING

12.1         Contributions
to the Fund.

As a part of this Plan VWR shall maintain a Fund.  From time to time, the Employer shall make
such contributions to the Fund as it determines, with the advice of its
actuary, are required to maintain the Plan on a sound actuarial basis.

12.2         Fund for Exclusive Benefit of
Participants, and Beneficiaries.

The Fund is for the exclusive benefit of Participants
and their Beneficiaries.  Except as
provided in Sections 10.8(i) and 10.11, no portion of the Fund shall be
diverted to purposes other than this or revert to or become the property of the
Employer at any time prior to the satisfaction of all liabilities with respect
to the Participants.

12.3         Disposition of Credits and
Forfeitures.

In no event shall any credits or forfeitures which may
arise under the Plan be used to increase benefits under the Plan.

12.4         Funding
Agent.

As a part of this Plan, VWR has entered into an
agreement with a Funding Agent.  VWR has
the power and duty to appoint the Funding Agent and it shall have the power to
remove the Funding Agent and appoint successors at any time.  As a condition to exercising its power to
remove any Funding Agent hereunder, VWR must first enter into an agreement with
a successor Funding Agent.

12.5         Investment
Manager.

VWR has the power to appoint an Investment Manager to
invest a portion of the Fund held by the Funding Agent.

 

48

 

SECTION 13

 

FIDUCIARIES

13.1         Limitation of Liability of the
Employer and Others.

No Participant shall have any claim against the
Employer, or the Retirement Committee, or against their directors, officers,
members, agents or representatives, for any benefits under the Plan, and such
benefits shall be payable solely from the Fund; nor shall the Employer, the
Retirement Committee, or their directors, officers, members, agents or
representatives incur any liability to any person for any action taken or
suffered or omitted to be taken by them under the Plan in good faith.

13.2         Indemnification
of Fiduciaries.

In order to facilitate the recruitment of competent
fiduciaries, the Employer adopting this Plan agrees to provide the
indemnification as described herein. 
This provision shall apply to employees who are considered Plan
fiduciaries including without limitation, Retirement Committee members, any
agent of the Retirement Committee, or any other officers, directors or
employees.  Notwithstanding the
preceding, this provision shall not apply and indemnification shall not be
provided for any Funding Agent or Investment Manager appointed as provided in
this Plan.

13.3         Scope
of Indemnification.

The Employer agrees to indemnify an employee fiduciary
as described above for all acts taken in good faith in carrying out his or her
responsibilities under the terms of this Plan or other responsibilities imposed
upon such fiduciary by ERISA or regulations promulgated thereunder.  If an employee fiduciary is sued in
connection with his or her acts as a fiduciary, the employee shall tender the
defense of the claim to the Employer.

IN WITNESS WHEREOF, VWR International, Inc. has caused this
amendment and restatement of the WR International, Inc. Retirement Plan to be
duly executed on this _______ day of ____________, 2001.

	
  Attest:

  	
   

  	
  VWR INTERNATIONAL, INC.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
   

  	
   

  	
  By:

  	
   

  
	
   

  	
  Secretary

  	
   

  	
   

  	
  President

  

 

[Corporate Seal]

 

49

 

APPENDIX A

FORMER VAN WATERS & ROGERS PROFIT SHARING PLAN
PARTICIPANTS

1.1           General.  The following provisions shall apply only to
VWR International Inc. Retirement Plan (“this Plan”) Participants who were
participants in the VW&R Profit Sharing Plan on February 29, 1968.

1.2           Determination
of Account Balances.  The value of a
person’s VW&R Profit Sharing Plan account as of any date shall be
determined by multiplying the number of units credited to his or her account as
of February 29, 1968, by the value of each unit on such valuation date.  The value of each unit on any valuation date
shall be determined by dividing the market value of the VW&R Profit Sharing
Plan Fund as of the valuation date by the number of units credited to former
participants in the VW&R Profit Sharing Plan who are active Participants in
this Plan.

1.3           Retirement
or Termination Where Participant is Qualified for Benefits Under This Plan.  In the event of retirement or termination
from service of a participant in the VW&R Profit Sharing Plan at a time
when such participant is entitled to benefits under this Plan (herein referred
to as an active participant), the participant shall be given the option
of:  (a) receiving benefits to which the
participant would otherwise be entitled under this Plan without reference to
participation under said profit sharing plan, or (b) receiving benefits
calculated according to Section 1.2 above, plus benefits under this Plan
computed as the product of (i) and (ii) below:

(i)            being a fraction, the numerator
being the participant’s completed and fractional years of credited service
subsequent to February 29, 1968, and the denominator being the participant’s
completed and fractional years of credited service at termination;

(ii)           being the total benefit as described
in (a) above.  Upon such termination,
the value of said participant’s account in the VW&R Profit Sharing Fund
shall be used to provide the benefits to which he or she is entitled under (a)
or (b) of this Section 1.3, to the extent that his or her account balance
in said fund is adequate to provide these benefits.

In the event said participant’s account in the
VW&R Profit Sharing Plan Fund determined as of the valuation date
applicable to such participant, exceeds the actuarial value of benefits equal
to benefits under paragraph (a) above less benefits under
paragraph (b) above (that is to say, the benefits under this Plan with
respect to credited service prior to March 1, 1968) said participant shall be
entitled to receive a benefit under this Plan based upon service rendered prior
to March 1, 1968, which is equal to the

 

A-1

 

benefit which can be provided by participant’s account
balance determined, as previously mentioned, as of the valuation date
applicable to such participant and the benefit mentioned in paragraph (b)
above.

1.4           Retired
Nonparticipating and Vested Participants. 
With respect to retired or nonparticipating vested participants in the
VW&R Profit Sharing Plan as of February 29, 1968, the funding agency or
agencies under this Plan shall retain in trust the amounts needed to continue
payments in accordance with the provisions of that Plan.

1.5           Death
of Participant.  In the event of the
death of a Participant who was a participant in the VW&R Profit Sharing
Plan prior to distribution to the Participant of his or her entire beneficial
interest generated by such plan, the full remaining value of such interest
shall be distributed in a lump sum to his or her beneficiary designated by such
Participant in writing.  The beneficiary
or beneficiaries designated by a Participant may be changed at any time and
from time to time at the election of the Participant, but only by his or her
filing with the committee a new designation and revoking all prior
designations.  If no such designation of
beneficiary is filed, or if the designated beneficiary shall predecease the
Participant, or, having survived the Participant, shall die prior to the final
and complete distribution of the Participant’s participating interest, the
undistributed portion of such interest shall be distributed to the
Participant’s personal representative.

1.6           Permanent
Disability.  Any amounts
distributable to a participant in said profit sharing plan by virtue of
permanent Disability shall, notwithstanding any provision hereof to the
contrary, be distributable to said participant in accordance with the original
tenor of that plan.

1.7           Valuation
Date.  The valuation dates for
purposes of determining the unit value of units held by participants in the
former VW&R Profit Sharing Plan shall be the last days of December and June
of each year.

1.8           VW&R
Profit Sharing Plan Fund.  The
VW&R Profit Sharing Plan Fund shall mean the fund held for the exclusive
benefit of participants of the VW&R Profit Sharing Plan (and their
beneficiaries) who have not previously become entitled to benefits under
Section 1.3 hereof.

1.9           Number
of Units at a Validation Date.  The
number of units at any valuation date is equal to the number of units at the
prior valuation date reduced by the number of units used to provide benefits
under Section 1.3 hereof.

1.10         Reduction
in VW&R Profit Sharing Plan Fund. 
The VW&R Profit Sharing Plan Fund shall be reduced as benefit
payments are made or are provided for in accordance with Section 1.3
hereof.

 

A-2

 

APPENDIX B

FORMER PARTICIPANTS OF UNION PLANS

1.1           In
General.  If a Participant was
formerly covered by a collective bargaining agreement with the Employer that
did not provide for retirement benefits under this Plan, the period of
employment covered by the collective bargaining agreement shall be included in
determining Years of Service under this Plan for all purposes, subject to any
applicable limits set forth in the Plan. 
However, except as provided in Section 1.2 of this Appendix B, the
benefit payable from this Plan shall be reduced by any benefits from a collectively
bargained plan which are attributable to Employer contributions on the
Participant’s behalf

1.2           Special
Provisions Regarding the VWR Corporation Pension Plan for Hourly Employees
(Skokie Plant).

(a)           Background.  VWR maintains the VWR Corporation Pension
Plan for Hourly Employees (Skokie Plant) (the “Hourly Plan”) for the benefit of
employees at the Skokie Plant who are covered by the collective bargaining
agreement between VWR and the United Paper Workers International Union AFL-CIO
Local 325 (“Local 325”).  Effective
November 19, 1996, Local 325 members ceased to be employed at the Skokie
Plant.  Therefore, in accordance with
the terms of the Hourly Plan, no employee accrued a benefit under the Hourly
Plan with respect to service completed on and after November 19, 1996.

(b)           Merger of Plans.  Effective December 31, 1997, the Hourly Plan
was merged with and into this Plan, and the trust established under the Hourly
Plan was merged with and into the Fund.

(c)           Retirees and Vested Terminated
Participants.  Benefits payable on
and after January 1, 1998, under the terms of the Hourly Plan as in effect on
December 31, 1997, to participants who retired or otherwise separated from
service with a vested right to a benefit prior to November 20, 1996, or to their
beneficiaries (“Transferred Pensioners”), shall be paid from this Plan in
accordance with the terms of the Hourly Plan applicable to such payments as of
December 31, 1997 (except to the extent that the provisions of this Plan are
required to apply to any such payments in order to comply with applicable laws
and regulations).  The Transferred
Pensioners who were receiving a monthly pension from the Hourly Plan as of
November 19, 1996, the amount of such benefits, and the form of such benefits,
are set forth in Exhibit I.  The accrued
benefits under the Hourly Plan of Transferred Pensioners who were not receiving

 

B-1

 

a monthly pension from the Hourly Plan as of November
19, 1996, are set forth in Exhibit II.

(d)           Hourly Plan Participants Who Were
Active Employees on November 20, 1996. 
The following rules shall apply to each person who was an Eligible
Employee on November 20, 1996, and who was a participant in the Hourly Plan as
of November 19, 1996 (a “Former Skokie Employee”):

(i)            Accrued Benefit.  The accrued benefit of a Former Skokie
Employee under this Plan shall be determined under the formula specified in
Section 4.1; provided, however, that the Accrued Benefit of a Former
Skokie Employee shall not be less than his or her accrued benefit under the
Hourly Plan on November 19, 1996, as set forth in Exhibit II.  Any section 411(d)(6) protected benefit
(within the meaning of Treas. Reg. §1.411(d)-4, Q&A-1)
that has accrued with respect to the benefits set forth in Exhibit II as of
December 31, 1997, shall not be reduced or eliminated with respect to such
benefits, except as provided in regulations and rulings issued pursuant to
section 411(d)(6)of the Code.  Such
section 411(d)(6) protected benefits shall be determined by reference to
the terms of the Hourly Plan as of December 31, 1997 (except to the extent that
the provisions of this Plan are required to apply in order to comply with
applicable laws and regulations).

(ii)           Period of Service.  In addition to the service described in
Section 1.1 of this Appendix B, a Former Skokie Employee who participated
in the Sargent-Welch Pension Plan for Hourly Employees (Skokie Plant) on
September 17, 1989, shall be given credit for his or her years of service under
that plan to determine his or her Periods of Service solely for purposes of
determining his or her vesting and eligibility for early retirement under this
Plan.  No credit shall be given for such
service for purposes of determining benefits under this Plan.

 

B-2

 

EXHIBIT I

Transferred Pensioners Receiving a Benefit Under the

VWR Corporation Pension Plan for Hourly Employees as of November 19, 1996

_____________________________________________

	
  SS NO

  	
   

  	
  NAME

  	
   

  	
  SEX

  	
   

  	
  DATE OF HIRE

  	
   

  	
  DATE OF MEMBERSHIP

  	
   

  	
  BENEFIT SERVICE

  	
   

  	
  ANNUAL ACCRUED BENEFIT

  
	
  ###-##-####

  	
   

  	
  Bliwas, Errol

  	
   

  	
  M

  	
   

  	
  06/14/82

  	
   

  	
  10/01/89

  	
   

  	
  7.167

  	
   

  	
  1,720.08

  
	
  ###-##-####

  	
   

  	
  Camara, Yolanda

  	
   

  	
  F

  	
   

  	
  03/27/78

  	
   

  	
  10/01/89

  	
   

  	
  7.167

  	
   

  	
  1,720.08

  
	
  ###-##-####

  	
   

  	
  Delaney, Bessie

  	
   

  	
  F

  	
   

  	
  08/24/70

  	
   

  	
  10/01/89

  	
   

  	
  7.167

  	
   

  	
  1,720.08

  
	
  ###-##-####

  	
   

  	
  Jackson, Jessie M.

  	
   

  	
  M

  	
   

  	
  02/19/79

  	
   

  	
  10/01/89

  	
   

  	
  7.167

  	
   

  	
  1,720.08

  
	
  ###-##-####

  	
   

  	
  Jochim, Glenn

  	
   

  	
  M

  	
   

  	
  11/26/79

  	
   

  	
  10/01/89

  	
   

  	
  7.167

  	
   

  	
  1,720.08

  
	
  ###-##-####

  	
   

  	
  Johnson, Dorothy

  	
   

  	
  F

  	
   

  	
  04/13/70

  	
   

  	
  10/01/89

  	
   

  	
  7.167

  	
   

  	
  1,720.08

  
	
  ###-##-####

  	
   

  	
  Krus, Mitchell

  	
   

  	
  M

  	
   

  	
  09/15/81

  	
   

  	
  10/01/89

  	
   

  	
  7.167

  	
   

  	
  1,720.08

  
	
  ###-##-####

  	
   

  	
  Messina, Nagui Y.

  	
   

  	
  M

  	
   

  	
  08/31/78

  	
   

  	
  10/01/89

  	
   

  	
  7.167

  	
   

  	
  1,720.08

  
	
  ###-##-####

  	
   

  	
  Metz Jr., Fred

  	
   

  	
  M

  	
   

  	
  08/17/59

  	
   

  	
  10/01/89

  	
   

  	
  7.167

  	
   

  	
  1,720.08

  
	
  ###-##-####

  	
   

  	
  Robinson, Chester

  	
   

  	
  M

  	
   

  	
  01/23/56

  	
   

  	
  10/01/89

  	
   

  	
  7.167

  	
   

  	
  1,720.08

  
	
  ###-##-####

  	
   

  	
  Tatum, Hattie

  	
   

  	
  F

  	
   

  	
  09/05/67

  	
   

  	
  10/01/89

  	
   

  	
  7.167

  	
   

  	
  1,720.08

  
	
  ###-##-####

  	
   

  	
  Thrawl, Jon C.

  	
   

  	
  M

  	
   

  	
  03/01/93

  	
   

  	
  03/01/93

  	
   

  	
  3.750

  	
   

  	
  900.00

  
	
  ###-##-####

  	
   

  	
  Wilson, Hester L.

  	
   

  	
  M

  	
   

  	
  08/21/69

  	
   

  	
  10/01/89

  	
   

  	
  7.167

  	
   

  	
  1,720.08

  
	
  ###-##-####

  	
   

  	
  Young, Alex

  	
   

  	
  M

  	
   

  	
  09/17/81

  	
   

  	
  10/01/89

  	
   

  	
  7.167

  	
   

  	
  1,720.08

  

 

EXHIBIT II

Accrued Benefit Under the VWR Corporation Pension Plan
for Hourly Employees

As of November 19, 1996 — Participants Not In Pay Status on November 19, 1996

_____________________________________________

	
  SS NO.

  	
   

  	
  NAME

  	
   

  	
  SEX

  	
   

  	
  DATE OF RETIREMENT

  	
   

  	
  MONTHLY BENEFIT

  	
   

  	
  FORM

  	
   

  	
  J & S

  	
   

  	
  PERIOD CERTAIN

  	
   

  	
  STATUS

  
	
  ###-##-####

  	
   

  	
  Duarte, Ruben E.

  	
   

  	
  M

  	
   

  	
  04/01/93

  	
   

  	
  70.00

  	
   

  	
  LA

  	
   

  	
  0

  	
   

  	
  0

  	
   

  	
  14

  
	
  ###-##-####

  	
   

  	
  Goben, Ralph

  	
   

  	
  M

  	
   

  	
  05/01/96

  	
   

  	
  121.13

  	
   

  	
  CO

  	
   

  	
  0

  	
   

  	
  10

  	
   

  	
  18

  
	
  ###-##-####

  	
   

  	
  Gold, Richard

  	
   

  	
  M

  	
   

  	
  05/01/93

  	
   

  	
  70.71

  	
   

  	
  LA

  	
   

  	
  0

  	
   

  	
  0

  	
   

  	
  14

  
	
  ###-##-####

  	
   

  	
  Krus, Edmund

  	
   

  	
  M

  	
   

  	
  07/01/95

  	
   

  	
  115.00

  	
   

  	
  LA

  	
   

  	
  0

  	
   

  	
  0

  	
   

  	
  14

  
	
  ###-##-####

  	
   

  	
  Lavender, Louis

  	
   

  	
  M

  	
   

  	
  12/01/96

  	
   

  	
  129.27

  	
   

  	
  LA

  	
   

  	
  0

  	
   

  	
  0

  	
   

  	
  14

  
	
  ###-##-####

  	
   

  	
  Nicioli, Alda

  	
   

  	
  F

  	
   

  	
  12/01/96

  	
   

  	
  111.61

  	
   

  	
  J&S

  	
   

  	
  100

  	
   

  	
  0

  	
   

  	
  14

  
	
  ###-##-####

  	
   

  	
  Parchin, Theresa

  	
   

  	
  F

  	
   

  	
  10/01/95

  	
   

  	
  98.48

  	
   

  	
  LA

  	
   

  	
  0

  	
   

  	
  0

  	
   

  	
  14

  
	
  ###-##-####

  	
   

  	
  Rock, Mary

  	
   

  	
  F

  	
   

  	
  01/01/96

  	
   

  	
  99.40

  	
   

  	
  LA

  	
   

  	
  0

  	
   

  	
  0

  	
   

  	
  14

  
	
  ###-##-####

  	
   

  	
  Shojot, Jose

  	
   

  	
  M

  	
   

  	
  03/01/96

  	
   

  	
  128.33

  	
   

  	
  LA

  	
   

  	
  0

  	
   

  	
  0

  	
   

  	
  13

  
	
  ###-##-####

  	
   

  	
  Snyder, John

  	
   

  	
  M

  	
   

  	
  05/01/93

  	
   

  	
  56.28

  	
   

  	
  J&S

  	
   

  	
  100

  	
   

  	
  0

  	
   

  	
  14

  
	
  ###-##-####

  	
   

  	
  Spinoso, Marie

  	
   

  	
  F

  	
   

  	
  09/01/93

  	
   

  	
  72.07

  	
   

  	
  LA

  	
   

  	
  0

  	
   

  	
  10

  	
   

  	
  14

  

 

B-3

 

APPENDIX C

 

EMPLOYEES TRANSFERRED TN SPINOFF FROM UNIVAR
CORPORATION

 

In determining the benefits of an employee who was
transferred to the Employer on March 1, 1986, in connection with the spinoff of
Univar Corporation, all Periods of Service under the Univar Corporation
Retirement Plan shall be treated as Periods of Service under this Plan for all
purposes and all earnings received from Univar Corporation shall be treated as
earnings received from VWR International, Inc.

If a person is employed on or before December 31,
1988, and immediately prior to being employed was employed by Univar
Corporation or any of its affiliates and had been so employed since February
28, 1986, such person shall receive credit under this Plan for all Periods of
Service and Earnings under the Univar Corporation Retirement Plan.  When such person is 100% vested under this
Plan, the Trustee of the Univar Corporation Retirement Plan shall transfer
directly to the Trustee of this Plan the present value of such person’s accrued
benefit.  Such person’s benefit under
this Plan immediately after the transfer of funds shall not be less than the
benefit under both this Plan and the Univar Plan immediately before the
transfer of funds.

 

C-1

 

APPENDIX D

 

FORMER EMPLOYEES OF ACQUIRED COMPANIES

 

Any employee who was employed by any of the companies
listed below at the time either the company or its assets were acquired by the
Employer or Univar Corporation shall be given credit for his or her Periods of
Service with such company for purposes of determining vesting and eligibility
for early retirement under this Plan. 
However, no credit shall be given for Periods of Service with such company
for purposes of determining benefits under this Plan.

1.             Cogan
& O’Brien Company, Inc.  Fortner
Cogan & O’Brien Company, Inc. employees began participating in the Plan on
March 1, 1987.  Such employees who
previously had Periods of Service with Univar Corporation or any of its
subsidiaries shall receive credit for such Periods of Service for vesting and
eligibility for early retirement under this Plan as well as credit for Periods
of Service with Cogan & O’Brien Company, Inc. for such purposes.

2.             Roberts
& Porter, Inc.  Former Roberts
& Porter, Inc. employees began participating in the Plan on March 1, 1987.

3.             Treck
Photographic, Inc.  Accruals began
as of November 1, 1975.

4.             Will
Scientific.  Accruals began as of
January 6, 1970.

5.             A.J.
Reynolds Company, LLC.  Accruals
began as of June 9, 1998.

6.             HPC
Scientific & Technology, Inc. 
Accruals began as of July 1, 1998.

 

D-1

 

APPENDIX E

 

TRANSFER OF EMPLOYEES BETWEEN VWR SCIENTIFIC PRODUCTS
CORPORATION AND MOMENTUM DISTRIBUTION INC. PRIOR TO

APRIL 1, 1992

 

If, at any time on or before March 31, 1992, a person
terminated employment with Momentum Distribution Inc. or any of its affiliates
(“Momentum”), and was thereafter immediately employed by an Employer under this
Plan, that person was credited under this Plan with all Periods of Service and
all Earnings with which he or she was credited under the Momentum Distribution
Inc. Retirement Plan (“Momentum Plan”) if such person was transferred from VWR
Scientific Products Corporation, or one of its affiliates, in the corporate
spinoff on March 1, 1990.  Such person’s
benefit under this Plan as described in this paragraph shall not be less than
the benefit under the Momentum Plan on his or her last day of employment with
Momentum.

 

E-1

 

APPENDIX F

 

FORMER EMPLOYEES OF

BAXTER INTERNATIONAL INC.

 

If, at any time on or after July 1, 1995, but before
July 1, 1997, a person terminated employment with Baxter International, Inc.,
or any of its affiliates (“Baxter”) and was thereafter immediately employed by
an Employer under this Plan, that person shall be credited with all Periods of
Service with Baxter for purposes of determining vesting, eligibility to
participate and eligibility for early retirement under this Plan, but not for
purposes of benefit accrual.

 

F-1

 

APPENDIX G

FORMER PARTICIPANTS IN

SCIENCE KIT, INC. RETIREMENT PLAN

1.1           Background.  Pursuant to an agreement dated as of July
21, 1998, VWR Scientific Products Corporation purchased the stock of Science
Kit, Inc. (“Science Kit”), and Central Scientific Company (“Central”).  Prior to October 1, 1998, Science Kit maintained
the Science Kit, Inc. Retirement Plan (the “Science Kit Plan”) for the benefit
of the eligible employees of Science Kit and Central.

1.2           Merger
of Plans.  Effective October 1,
1998, the Science Kit Plan was merged with and into this Plan, and the assets
of the Science Kit Plan became assets of the Fund.  Also effective October 1, 1998, Science Kit and Central adopted
the Plan on behalf of their eligible employees.

1.3           Former Science Kit Participants.

(a)           Participation.  Each employee who was a participant in the
Science Kit Plan on September 30, 1998, became a Participant in this Plan as of
October 1, 1998, provided that on such date he or she was an Eligible
Employee.  Each other employee who had
service with Science Kit, Central, or any affiliate thereof prior to October 1,
1998, and who had completed at least one year of Credited Service for
eligibility purposes (after application of paragraph (b)(i) below) on or
before October 1, 1998, became a Participant in this Plan as of October 1,
1998, provided that on such date he or she was an Eligible Employee.

(b)           Service Credit.

(i)            Eligibility.  For purposes of eligibility to participate,
the service crediting rules of this Plan shall apply, but all service prior to
October 1, 1998, with Science Kit, Central, or any affiliate thereof shall be treated
as service with the Employer.

(ii)           Vesting.  For purposes of vesting, the Period of
Service of a Participant who previously participated in the Science Kit Plan
shall not be less than the sum of:

(A)          The number of years of service
credited to the Participant for vesting purposes under the Science Kit Plan as
of August 31, 1998; plus

 

G-1

 

(B)           The Participant’s Period of Service
determined under this Plan, disregarding any service prior to September 1,
1998.

(iii)          Benefit Accrual.  For purposes of determining the amount of
his or her accrued benefit under the Science Kit Plan as of September 30, 1998,
each Employee who was a Participant in the Science Kit Plan as of September 1,
1998, and who was credited with at least 83-1/3 Hours-of-Service under
the Science Kit Plan during the period from September 1, 1998, through
September 30, 1998, shall be credited with 1/12 of a year of Accrual Service
under the Science Kit Plan for such period. 
Service on and after October 1, 1998, shall be credited in accordance
with Section 1.8 for accrual purposes.

(c)           Benefit Accruals.  Effective October 1, 1998, the Accrued
Benefit of each Participant who previously participated in the Science Kit Plan
shall be an amount equal to the sum of:

(i)            the Participant’s accrued benefit
under the Science Kit Plan as of September 30, 1998 (after the application of
paragraph (b)(iii) above), determined as if he or she had separated from
service on such date; plus

(ii)           the amount determined under
Section 4.1, based solely on the Participant’s Credited Service and
Earnings on and after October 1, 1998;

provided, however, that such Participant’s Accrued
Benefit shall in no event be less than the actuarial equivalent of his or her
“Vested Transfer Value” (as defined in the Science Kit Plan as in effect on
September 30, 1998), determined as of the Participant’s Annuity Starting Date
in accordance with the rules for determining actuarial equivalence for such
purpose under the provisions of the Science Kit Plan as in effect on September
30, 1998.  For purposes of this Appendix
G, the Participant’s “Transferred Science Kit Benefit” shall be the greater of
the amount described in subparagraph (i) above or his or her Vested
Transfer Value.

(d)           Vesting.  A Participant who has a Transferred Science
Kit Benefit shall be fully vested in his or her Accrued Benefit if he or she is
in the service of the Employer at or after age 60.

(e)           Preservation of Protected Benefits.  The following rules shall apply with respect
to any Participant who has a Transferred Science Kit Benefit:

 

G-2

 

(i)            Early Commencement Prior to Date
Generally Available Under Plan.  If
such a Participant has reached age 60 and has Terminated but is not eligible to
receive an immediate retirement benefit under Section 4 or a deferred
vested benefit under Section 7.2, he or she may elect to commence
receiving his or her Transferred Science Kit Benefit, adjusted for commencement
before or after the Participant’s normal retirement date under the Science Kit
Plan (the later of (i) the first day of the month on or after age 65 or (ii)
the fifth September 1 after participation in the Science Kit Plan commenced),
in accordance with the provisions of the Science Kit Plan in effect on
September 30, 1998.

(ii)           Early Commencement On or After
Date Generally Available Under Plan. 
If such a Participant has reached age 60, has Terminated, and is
eligible to receive an immediate retirement benefit under Section 4 or a
deferred vested benefit under Section 7.2, the benefit payable to the
Participant under Section 4 or Section 7.2 shall not be less than his
or her Transferred Science Kit Benefit adjusted (in accordance with the
provisions of the Science Kit Plan in effect on September 30, 1998) for
commencement before or after the Participant’s Science Kit Plan normal
retirement date, based on the Participant’s age at his or her Annuity Starting
Date.

(iii)          In-Service Commencement.  If such a Participant has reached his or her
normal retirement date under the Science Kit Plan but has not Terminated, the
Participant may elect to commence receiving his or her Transferred Science Kit
Benefit, adjusted if necessary for commencement after the Participant’s normal retirement
date under the Science Kit Plan, in accordance with the provisions of the
Science Kit Plan in effect on September 30, 1998.

(iv)          Adjustment of Accrued Benefit.  If a Participant receives a distribution of
his or her Transferred Science Kit Benefit pursuant to subparagraph (i) or
(iii) above, the Participant’s remaining Accrued Benefit shall thereafter be
reduced by the amount of the Participant’s Transferred Science Kit Benefit.

(v)           Deferred Commencement.  Such a Participant may elect to defer commencement
of his or her Transferred Science Kit Benefit payments under the Plan until a
date not later than the later of the first day of the month coinciding with or
next following his or her Termination date or April 1 following the calendar
year in which the Participant reaches age 70-1/2.  Such payments shall be adjusted for
commencement after the Participant’s normal retirement date under the Science
Kit Plan, in accordance with the provisions of the Science Kit Plan in effect
on

 

G-3

 

September 30, 1998 (or to any greater extent required
under section 401(a)(9) of the Code to reflect commencement after age 70-1/2).  Distribution of the Participant’s Accrued
Benefit, to the extent it exceeds his or her Transferred Science Kit Benefit,
shall commence as of the date determined under Section 3 or
Section 7.2.

(vi)          Optional Forms of Benefit.  Such Participant’s Accrued Benefit shall be
distributed in accordance with the provisions of Section 5 of this
Plan.  If such a Participant receives
his or her Accrued Benefit in any form in which he or she could have received
such benefit on his or her Annuity Starting Date under the provisions of the
Science Kit Plan in effect on September 30, 1998, other than in the form of a
lump-sum distribution, the amount paid in such form shall not be less than the
actuarial equivalent of his or her Transferred Science Kit Benefit, determined
in accordance with the rules for determining actuarial equivalence for such
purpose under the provisions of the Science Kit Plan as in effect on September
30, 1998.  In addition, such Participant
shall have the right to receive his or her Transferred Science Kit Benefit in
any optional form of payment which was available for distribution under the
Science Kit Plan as of September 30, 1998, subject to the requirements of
Sections 3.4 and 5.2 of this Plan. 
If such a Participant elects to receive his or her Transferred Science
Kit Benefit in the form of a lump-sum distribution, the amount of such lump-sum
distribution shall be determined on the basis of the Applicable Mortality Table
and the Applicable Interest Rate; provided, however, that during the 12-month
period beginning October 1, 1998, the interest rate or rates which would be
used as of the Annuity Starting Date by the PBGC for purposes of determining
the present value of such benefit if the Plan had then terminated with
insufficient assets to provide benefits guaranteed by the PBGC on such date
shall be used in lieu of the Applicable Interest Rate if such rate or rates
produce a greater benefit.  (The
preceding sentence shall not apply to involuntary cash-outs described in
Section 5.5.)

This paragraph (e) is intended to comply with the
requirements of section 411(d)(6) of the Code, and shall not apply to the
extent that section 411(d)(6) of the Code and regulations issued
thereunder would permit the elimination of any optional form of payment or
other protected benefit.  (Thus, for
example, the joint and 66-2/3% survivor annuity shall not be available
with respect to a Transferred Science Kit Benefit.)

1.4           Retirees
and Vested Terminated Participants. 
Benefits payable on and after October 1, 1998, under the terms of the
Science Kit Plan as in effect on September 30, 1998, to participants who retired
or otherwise separated from service with

 

G-4

 

a vested right to a benefit prior to October 1, 1998, or to their
beneficiaries, shall be paid from this Plan in accordance with the terms of the
Science Kit Plan applicable to such payments as of September 30, 1998 (except
to the extent that the provisions of this Plan are required to apply to any
such payments in order to comply with applicable laws and regulations).  For purposes of determining the amount of
benefits payable with respect to a participant who retired or otherwise
separated from service on or after September 1, 1998, but prior to October 1,
1998, the service crediting rule of Section 1.3(b)(iii) of this Appendix G
shall apply.  Notwithstanding the
foregoing, in the case of a former participant in the Science Kit Plan whose
benefit payments commence on or after January 1, 2002, the joint and 66-2/3
% survivor annuity form of payment shall not be available.

1.5           Compliance
Amendments.  The Science Kit Plan is
hereby amended retroactively to incorporate the following provisions of this
Plan, which shall supersede any corresponding provisions of the Science Kit
Plan:

(a)           The definition of “Leased Employee”
in Section 1.24 of this Plan, effective September 1, 1997.

(b)           Commencement of benefit payments to
Participants who reach age 70-1/2 on or after January 1, 1997, on the
first day of the month coinciding with or next following the Participant’s
Termination date, or, if the Participant so elects, April 1 of the calendar
year following the year in which the Participant reaches age 70-1/2, as
described in Sections 3.3(b) and 4.4 of this Plan.

(c)           The increase in the amount of the
involuntary cash-out to $5,000 as described in Section 5.5 of this Plan,
effective September 1, 1997.

(d)           Section 8.1 of this Plan
(regarding limitations re highly compensated employees), effective September 1,
1994.

(e)           Section 8.2(f) of this Plan
(regarding the definition of compensation for purposes of section 415 of
the Code), effective September 1, 1998.

(f)            Section 10.8(j) of this Plan
(regarding military service), effective December 12, 1994, or such later date
as the requirements of the Uniformed Services Employment and Reemployment Act
of 1994 first became applicable to the Science Kit Plan.

 

G-5

 

APPENDIX H

FORMER PARTICIPANTS IN

WARD’S NATURAL SCIENCE

ESTABLISHMENT, INC. RETIREMENT PLAN

1.1           Background.  Pursuant to an agreement dated as of July
21, 1998, VWR Scientific Products Corporation purchased the stock of Ward’s
Natural Science Establishment, Inc. (“Ward’s”).  Prior to October 1, 1998, Ward’s maintained the Ward’s Natural
Science Establishment, Inc. Retirement Plan (the “Ward’s Plan”) for the benefit
of its eligible employees.

1.2           Merger
of Plans.  Effective October 1,
1998, the Ward’s Plan was merged with and into this Plan, and the assets of the
Ward’s Plan became assets of the Fund. 
Also effective October 1, 1998, Ward’s adopted the Plan on behalf of its
eligible employees.

1.3           Former
Ward’s Participants.

(a)           Participation.  Each employee who was a participant in the
Ward’s Plan on September 30, 1998, became a Participant in this Plan as of
October 1, 1998, provided that on such date he or she was an Eligible Employee.  Each other employee who had service with
Ward’s or any affiliate thereof prior to October 1, 1998, and who had completed
at least one year of Credited Service for eligibility purposes (after
application of paragraph (b)(i) below) on or before October 1, 1998,
became a Participant in this Plan as of October 1, 1998, provided that on such
date he or she was an Eligible Employee.

(b)           Service Credit.

(i)            Eligibility.  For purposes of eligibility to participate,
the service crediting rules of this Plan shall apply, but all service prior to
October 1, 1998, with Ward’s or any affiliate thereof shall be treated as
service with the Employer.

(ii)           Vesting.  For purposes of vesting, the Period of
Service of a Participant who previously participated in the Ward’s Plan shall
not be less than the sum of:

(A)          The number of years of service
credited to the Participant for vesting purposes under the Ward’s Plan as of
February 28, 1998; plus

 

H-1

 

(B)           The Participant’s Period of Service
determined under this Plan, disregarding any service prior to March 1, 1998;
provided that (i) all service prior to October 1, 1998, with Ward’s or any
affiliate thereof shall be treated as service with the Employer, and (ii) if
the Participant completed 1,000 Hours-of-Service under the Ward’s Plan during
the period from March 1, 1998, through September 30, 1998, the entire period
from March 1, 1998, through February 28, 1999, shall be treated as a Period of
Service.

For purposes of (A) above, service shall not be taken
into account to the extent it would have been disregarded as of September 30,
1998 (or, in the case of a Participant not in service on September 30, 1998,
the date on which the Participant first completes an Hour of Service after
September 30, 1998), under the break-in-service rules under the Ward’s Plan as
in effect on September 30, 1998.

(c)           Benefit Accruals.  Effective October 1, 1998, the Accrued
Benefit of each Participant who previously participated in the Ward’s Plan
shall be an amount equal to the sum of:

(i)            the Participant’s accrued benefit
under the Ward’s Plan as of September 30, 1998, determined as if he or she had
separated from service on such date (his or her “Transferred Ward’s Benefit”);
plus

(ii)           the amount determined under
Section 4.1, based solely on the Participant’s Credited Service and
Earnings on and after October 1, 1998.

(d)           Vesting.  A Participant who has a Transferred Ward’s
Benefit shall be fully vested in his or her Accrued Benefit if he or she is in
the service of the Employer at or after age 60.

(e)           Preservation of Protected Benefits.  The following rules shall apply with respect
to any Participant who has a Transferred Ward’s Benefit:

(i)            Early Commencement Prior to Date
Generally Available Under Plan.  If
such a Participant has reached age 60 and has Terminated but is not eligible to
receive an immediate retirement benefit under Section 4 or a deferred
vested benefit under Section 7.2, he or she may elect to commence
receiving his or her Transferred Ward’s Benefit, adjusted if necessary for
commencement before age 65, in accordance with the provisions of the Ward’s
Plan in effect on September 30, 1998.

 

H-2

 

(ii)           Early Commencement On or After Date
Generally Available Under Plan.  If
such a Participant has reached age 60, has Terminated, and is eligible to
receive an immediate retirement benefit under Section 4 or a deferred
vested benefit under Section 7.2, the benefit payable to the Participant
under Section 4 or Section 7.2 shall not be less than his or her
Transferred Ward’s Benefit adjusted (in accordance with the provisions of the
Ward’s Plan in effect on September 30, 1998) for commencement before age 65,
based on his or her age at his or her Annuity Starting Date.

(iii)          In-Service Commencement.  If such a Participant has reached age 65 but
has not Terminated, the Participant may elect to commence receiving his or her
Transferred Ward’s Benefit in accordance with the provisions of the Ward’s Plan
in effect on September 30, 1998.

(iv)          Adjustment of Accrued Benefits.  If a Participant receives a distribution of
his or her Transferred Ward’s Benefit pursuant to subparagraph (i) or
(iii) above, the Participant’s remaining Accrued Benefit shall thereafter be
reduced by the amount of the Participant’s Transferred Ward’s Benefit.

(v)           Deferred Commencement.  Such a Participant may elect to defer
commencement of his or her Transferred Ward’s Benefit payments under the Plan
until a date not later than the later of the first day of the month coinciding
with or next following his or her Termination date or April 1 following the
calendar year in which the Participant reaches age 70-1/2.  Such payments shall be Actuarially adjusted,
to the extent required under section 401(a)(9) of the Code, to reflect
commencement after age 70-1/2. 
Distribution of the Participant’s Accrued Benefit, to the extent it
exceeds his or her Transferred Ward’s Benefit, shall commence as of the date
determined under Section 3 or Section 7.2.

(vi)          Optional Forms of Benefit.  Such Participant’s Accrued Benefit shall be
distributed in accordance with the provisions of Section 5 of this
Plan.  If such a Participant receives
his or her Accrued Benefit in any form in which he or she could have received
such benefit on his or her Annuity Starting Date under the provisions of the
Ward’s Plan in effect on September 30, 1998, the amount paid in such form shall
not be less than the actuarial equivalent of his or her Transferred Ward’s
Benefit, determined in accordance with the rules for determining actuarial
equivalence for such purpose under the provisions of the Ward’s Plan as in
effect on September 30, 1998.

 

H-3

 

This paragraph (e) is intended to comply with the
requirements of section 411(d)(6) of the Code, and shall not apply to the
extent that section 411(d)(6) of the Code and regulations issued
thereunder would permit the elimination of any optional form of payment or
other protected benefit.  (Thus, for
example, the joint and 66-2/3% survivor annuity shall not be available
with respect to a Transferred Ward’s Benefit.)

1.4           Retirees
and Vested Terminated Participants. 
Benefits payable on and after October 1, 1998, under the terms of the
Ward’s Plan as in effect on September 30, 1998, to participants who
retired or otherwise separated from service with a vested right to a benefit
prior to October 1, 1998, or to their beneficiaries, shall be paid from this
Plan in accordance with the terms of the Ward’s Plan applicable to such
payments as of September 30, 1998 (except to the extent that the provisions of
this Plan are required to apply to any such payments in order to comply with
applicable laws and regulations). 
Notwithstanding the foregoing, in the case of a former participant in
the Ward’s Plan whose benefit payments commence on or after January 1, 2002,
the joint and 66-2/3% survivor annuity form of payment shall not be
available.

1.5           Compliance
Amendments.  The Ward’s Plan is
hereby amended retroactively to incorporate the following provisions of this
Plan, which shall supersede any corresponding provisions of the Ward’s Plan:

(a)           The definition of “Leased Employee”
in Section 1.24 of this Plan, effective March 1, 1997.

(b)           Commencement of benefit payments to
Participants who reach age 70-1/2 on or after January 1, 1997, on the
first day of the month coinciding with or next following the Participant’s
Termination date, or, if the Participant so elects, April 1 of the calendar
year following the year in which the Participant reaches age 70-1/2, as
described in Sections 3.3(b) and 4.4 of this Plan.

(c)           The increase in the amount of the
involuntary cash-out to $5,000 as described in Section 5.5 of this Plan,
effective March 1, 1998.

(d)           The definition of “highly compensated
employee” in Section 8.1 of this Plan, effective March 1, 1997.

(e)           Section 8.2(f) of this Plan
(regarding the definition of compensation for purposes of section 415 of
the Code), effective March 1, 1998.

(f)            Section 10.8(j) of this Plan
(regarding military service), effective December 12, 1994, or such later date
as the requirements of the

 

H-4

 

Uniformed Services Employment and Reemployment Act of
1994 first became applicable to the Ward’s Plan.

 

H-5

 

APPENDIX I

 

FORMER EMPLOYEES OF MERCK AND SUBSIDIARIES

 

Any individual who, on or after January 1, 1995,
transfers directly from employment with Merck KGaA, Darmstadt, Germany (“Merck”),
or any entity which is a direct or indirect subsidiary of Merck (collectively,
the “Merck Companies”), to employment with the Employer, shall be given credit
for his or her service with the Merck Companies (including service prior to the
date on which VWR became an affiliate of Merck) for purposes of determining
eligibility to participate, vesting, and eligibility for early retirement under
the Plan.  Service with the Merck
Companies shall not be counted for benefit accrual purposes except as otherwise
provided in the Plan.

 

I-1

 

AMENDMENT NO. 1

TO THE

VWR INTERNATIONAL, INC.

RETIREMENT PLAN

 

(As Amended and Restated
Effective January 1, 2001)

 

WHEREAS, VWR International, Inc. (the
“Corporation”) maintains the VWR International, Inc. Retirement Plan (the
“Plan”) for the benefit of the eligible employees of the Corporation and its
participating affiliates; and

WHEREAS, the Corporation desires to amend the
Plan in order to comply with recent changes in applicable regulations;

NOW, THEREFORE, effective January l, 2003, except where
other effective dates are specifically provided, the Plan is amended as
follows:

1.             Section 1.5
of the Plan is amended to read as follows, effective for distributions with
Annuity Starting Dates on or after December 31, 2002:

1.5           Applicable
Mortality Table means, under section 417(e)(3) of the Code, the table
described in Rev. Rul. 2001-62, or any successor table prescribed by the
Commissioner of Internal Revenue in revenue rulings, notices, or other
published guidance.

2.             Sections 3.3
and 3.4 of the Plan are amended, and a new Section 3.5 is added to the
Plan, to read as follows:

3.3           Deferred
Retirement Date.

The Deferred Retirement Date for a Participant who
continues working after the Regular Retirement Date shall be the earliest of:

(a)           the first day of the
month coinciding with or next following his or her Termination Date;

(b)           the date
distributions to the Participant are required to commence under
Section 3.4; or

(c)           if the Participant
so elects, April l of the calendar year following the year in which the
Participant reaches age 70-1/2.

 

 

3.4           Requirements Concerning
Distributions.

(a)           General Rules.

(1)           Effective Date.  The provisions of this Section 3.4
shall apply for purposes of determining required minimum distributions for
calendar years beginning on and after January l, 2003.

(2)           Precedence.  The requirements of this Section 3.4
shall take precedence over any inconsistent provisions of the Plan.

(3)           Requirements of
Treasury Regulations Incorporated. 
All distributions required under this Section 3.4 shall be
determined and made in accordance with the Treasury regulations under
section 401(a)(9) of the Code.

(4)           TEFRA
Section 242(b)(2) Elections. 
Notwithstanding the other provisions of this Section 3.4, other
than subparagraph (3) above, distributions may be made under a designation
made before January 1, 1984, in accordance with section 242(b)(2) of the
Tax Equity and Fiscal Responsibility Act (TEFRA) and the provisions of the Plan
that relate to section 242(b)(2) of TEFRA.

(b)           Time
and Manner of Distribution.

(1)           Required
Beginning Date.  The Participant’s
entire interest shall be distributed, or begin to be distributed, to the
Participant no later than the Participant’s Required Beginning Date.

(2)           Death of
Participant before Distributions Begin. 
If the Participant dies before distributions begin, the Participant’s
entire interest shall be distributed, or begin to be distributed, no later than
as follows:

(A)          If the Participant’s
surviving spouse is the Participant’s sole Designated Beneficiary, then
distributions to the surviving spouse shall begin by December 31 of the
calendar year immediately following the calendar year in which the Participant
died, or by December 31 of the calendar year in which the Participant would
have attained age 70-1/2, if later.

(B)           If the Participant’s
surviving spouse is not the Participant’s sole Designated Beneficiary,
distributions to the Designated Beneficiary shall begin by December 31 of the

 

2

 

calendar year immediately following the calendar year
in which the Participant died.

(C)           If there is no
Designated Beneficiary as of September 30 of the year following the year of the
Participant’s death, the Participant’s entire interest shall be distributed by
December 31 of the calendar year containing the fifth anniversary of the
Participant’s death.

(D)          If the Participant’s
surviving spouse is the Participant’s sole Designated Beneficiary and the
surviving spouse dies after the Participant but before distributions to the
surviving spouse begin, this subparagraph (2), other than
subparagraph (2)(A) above, shall apply as if the surviving spouse were the
Participant.

For purposes of this subparagraph (2) and
paragraph (e) below, distributions are considered to begin on the
Participant’s Required Beginning Date (or, if subparagraph (2)(D) applies,
the date distributions are required to begin to the surviving spouse under
subparagraph (2)(A)).  If annuity
payments irrevocably commence to the Participant before the Participant’s
Required Beginning Date (or to the Participant’s surviving spouse before the
date distributions are required to begin to the surviving spouse under
subparagraph (2)(A)), the date distributions are considered to begin is
the date distributions actually commence.

(3)           Form of
Distribution.  Unless the
Participant’s interest is distributed in the form of an annuity purchased from
an insurance company or in a single sum on or before the Required Beginning
Date, as of the first Distribution Calendar Year, distributions shall be made
in accordance with paragraphs (c), (d), and (e) below.  If the Participant’s interest is distributed
in the form of an annuity purchased from an insurance company, distributions
thereunder shall be made in accordance with the requirements of
section 401(a)(9) of the Code and the Treasury regulations
thereunder.  Any part of the
Participant’s interest which is in the form of an individual account described
in section 414(k) of the Code shall be distributed in a manner satisfying
the requirements of section 401(a)(9) of the Code and the Treasury
regulations that apply to individual accounts.

 

3

 

(c)           Determination of Amount To Be
Distributed Each Year.

(1)           General Annuity
Requirements.  If the Participant’s
interest is paid in the form of annuity distributions under the Plan, payments
under the annuity shall satisfy the following requirements:

(A)          The annuity
distributions shall be paid in periodic payments made at intervals not longer
than one year;

(B)           The distribution
period shall be over a life (or lives) or over a period certain not longer than
the period described in paragraph (d) or (e) below;

(C)           Once payments have
begun over a period certain, the period certain shall not be changed, even if
the period certain is shorter than the maximum permitted;

(D)          Payments shall either
be nonincreasing or increase only as follows:

(I)            By an annual
percentage increase that does not exceed the annual percentage increase in a
cost-of-living index that is based on prices of all items and issued by the
Bureau of Labor Statistics;

(II)           To the extent of
the reduction in the amount of the Participant’s payments to provide for a
survivor benefit upon death, but only if the beneficiary whose life was being
used to determine the distribution period described in paragraph (d) below
dies or is no longer the Participant’s Beneficiary pursuant to a Qualified
Domestic Relations Order;

(III)         To provide cash
refunds of employee contributions upon the Participant’s death; or

(IV)         To pay increased
benefits that result from a Plan amendment.

(2)           Amount Required
To Be Distributed by Required Beginning Date.  The amount that must be distributed on or before the
Participant’s Required Beginning Date (or, if the Participant dies before
distributions begin, the date distributions are required to begin under
paragraph (b)(2)(A) or (B) above) is the payment that is required for one

 

4

 

payment interval. 
The second payment need not be made until the end of the next payment
interval, even if that payment interval ends in the next calendar year.  Payment intervals are the periods for which
payments are received, e.g., bimonthly, monthly, semiannually, or
annually.  All of the Participant’s
benefit accruals as of the last day of the first Distribution Calendar Year
shall be included in the calculation of the amount of the annuity payments for
payment intervals ending on or after the Participant’s Required Beginning Date.

(3)           Additional
Accruals after First Distribution Calendar Year.  Any additional benefits accruing to the Participant in a calendar
year after the first Distribution Calendar Year shall be distributed beginning
with the first payment interval ending in the calendar year immediately
following the calendar year in which such amount accrues.

(d)           Requirements
for Annuity Distributions that Commence During Participant’s Lifetime.

(1)           Joint Life
Annuities Where the Beneficiary Is Not the Participant’s Spouse.  If the Participant’s interest is being
distributed in the form of a joint and survivor annuity for the joint lives of
the Participant and a nonspouse Beneficiary, annuity payments to be made on or
after the Participant’s Required Beginning Date to the Designated Beneficiary
after the Participant’s death must not at any time exceed the applicable
percentage of the annuity payment for such period that would have been payable
to the Participant using the table set forth in Treas. Reg. §1.401(a)(9)-6T,
Q&A-2.  If the form of
distribution combines a joint and survivor annuity for the joint lives of the
participant and a nonspouse beneficiary and a period certain annuity, the
requirement in the preceding sentence shall apply to annuity payments to be
made to the Designated Beneficiary after the expiration of the period certain.

(2)           Period Certain
Annuities.  Unless the Participant’s
spouse is the sole Designated Beneficiary and the form of distribution is a
period certain and no life annuity, the period certain for an annuity
distribution commencing during the Participant’s lifetime may not exceed the
applicable distribution period for the Participant under the Uniform Lifetime
Table set forth in Treas. Reg. §1.401(a)(9)-9 for the calendar year
than contains the Annuity Starting Date. 
If the Annuity Starting Date precedes the year in which the Participant
reaches age 70, the applicable distribution period for the Participant is the
distribution period for age 70 under the Uniform Lifetime Table set forth in
Treas. Reg. §1.401(a)(9)-9 plus the excess of 70 over the age of the
Participant as of the Participant’s birthday in the year that contains the
Annuity Starting Date.  If the

 

5

 

Participant’s spouse is the Participant’s sole
Designated Beneficiary and the form of distribution is a period certain and no
life annuity, the period certain may not exceed the longer of the Participant’s
applicable distribution period, as determined under this subparagraph (2),
or the joint life and last survivor expectancy of the Participant and the
Participant’s spouse as determined under the Joint and Last Survivor Table set
forth in Treas. Reg. §1.401(a)(9)-9, using the Participant’s and
spouse’s attained ages as of the Participant’s and spouse’s birthdays in the
calendar year that contains the Annuity Starting Date.

(e)           Requirements
for Minimum Distributions Where Participant Dies before Date Distributions
Begin.

(1)           Participant
Survived by Designated Beneficiary. 
If the Participant dies before the date distribution of his or her
interest begins and there is a Designated Beneficiary, the Participant’s entire
interest shall be distributed, beginning no later than the time described in
paragraph (b)(2)(A) or (B) above, over the life of the Designated
Beneficiary or over a period certain not exceeding:

(A)          Unless the Annuity
Starting Date is before the first Distribution Calendar Year, the Life
Expectancy of the Designated Beneficiary determined using the Beneficiary’s age
as of the Beneficiary’s birthday in the calendar year immediately following the
calendar year of the Participant’s death; or

(B)           If the Annuity
Starting Date is before the first Distribution Calendar Year, the Life
Expectancy of the Designated Beneficiary determined using the Beneficiary’s age
as of the Beneficiary’s birthday in the calendar year that contains the Annuity
Starting Date.

(2)           No Designated
Beneficiary.  If the Participant
dies before the date distributions begin and there is no Designated Beneficiary
as of September 30 of the year following the year of the Participant’s death,
distribution of the Participant’s entire interest shall be completed by
December 31 of the calendar year containing the fifth anniversary of the
Participant’s death.

(3)           Death of
Surviving Spouse before Distributions to Surviving Spouse Begin.  If the Participant dies before the date
distribution of his or her interest begins, the Participant’s surviving spouse
is the Participant’s sole Designated Beneficiary, and the surviving spouse dies
before distributions to the surviving spouse begin, this paragraph (e)

 

6

 

shall apply as if the surviving spouse were the
Participant, except that the time by which distributions must begin shall be
determined without regard to paragraph (b)(2)(A) above.

(f)            Definitions.  For purposes of this Section 3.4, the
following definitions shall apply:

(1)           “Designated
Beneficiary” shall mean the individual who is designated as the Beneficiary
under Section 1.6 and is the “designated beneficiary” under
section 401(a)(9) of the Code and Treas. Reg. §1.401(a)(9)-1,
Q&A-4.

(2)           “Distribution
Calendar Year” shall mean a calendar year for which a minimum distribution
is required.  For distributions
beginning before the Participant’s death, the first Distribution Calendar Year
is the calendar year immediately preceding the calendar year which contains the
Participant’s Required Beginning Date. 
For distributions beginning after the Participant’s death, the first
Distribution Calendar Year is the calendar year in which distributions are
required to begin pursuant to paragraph (b)(2) above.

(3)           “Life Expectancy”
shall mean life expectancy as computed by the use of the Single Life Table in
Treas. Reg. §l.401(a)(9)-9.

(4)           “Required
Beginning Date” shall mean:

(A)          in the case of a
Participant who reached age 70-1/2 prior to January 1, 1999, or who is a
five-percent owner (within the meaning of section 401(a)(9)(C)(ii) of the
Code), April 1 of the calendar year following the year in which the
Participant reaches age 70-1/2; and

(B)           in the case of a
Participant who is not a five-percent owner and who reaches age 70-1/2 on
or after January l , 1999, April 1 of the calendar year following the later of
the year in which the Participant retires or the year in which the Participant
reaches age 70-1/2.

3.5           Retirement Date.

The Retirement Date for a Participant shall be the
date specified in Section 3.1, 3.2, or 3.3.  The Retirement Date is the Annuity Starting Date.

 

7

 

                3.             Section 4.4
of the Plan is amended to read as follows:

4.4           Deferred Retirement Benefit.

A Participant’s Deferred Retirement Benefit shall
equal his or her vested Accrued Benefit as of his or her Deferred Retirement
Date, Actuarially adjusted for form of payment and any prior distributions,
and, to the extent required under section 401(a)(9) of the Code, to
reflect commencement after age 70-1/2. 
Additional benefit accruals after a Participant’s Regular Retirement
Date shall be offset by any adjustment attributable to the delay in
distribution of benefits after age 70-1/2, as permitted under
section 411(b)(1)(H)(iii)(II) of the Code.  There shall be no Actuarial adjustment to reflect the deferred
commencement of benefits prior to age 70-1/2.  If a Participant begins receiving benefits prior to his or her
date of Termination, additional benefit accruals for a calendar year shall be
reduced (but not below zero) by the Actuarial Equivalent of the benefit
payments made to the Participant during that calendar year, as permitted by
section 411(b)(1)(H)(iii)(I) of the Code and regulations thereunder.  Service and Earnings beyond the Regular
Retirement Date shall be taken into consideration, subject to the 33-year
limit in Section 4.1.  In no event
shall the benefit provided under this paragraph be less than the retirement
benefit to which the Participant would have been entitled if he or she had
actually retired on the Regular Retirement Date.

4.             Section 10.6(d)
of the Plan is amended to read as follows, effective with respect to claims
filed on or after January 1, 2002:

10.6         Appeal
Procedure.

*            *            *

(d)           Regulations

The claims procedure of this Plan also shall be administered in
accordance with the claims procedure regulations of the Department of Labor set
forth in 29 C.F.R. §2560.503-1. 
Notwithstanding any provision of Section 10.5 or of this
Section 10.6 to the contrary, to the extent such regulations so require,
determinations as to whether Plan provisions regarding Disability apply to a
Participant shall be made in accordance with the Department of Labor’s claims
procedure regulations applicable to claims for disability benefits, and any
such determination shall be made by (i) one member of the Retirement Committee
in the case of an initial claim, and (ii) the remaining members of the
Retirement Committee in the case of the review of a denied claim.

 

8

 

IN
WITNESS WHEREOF,
VWR International, Inc. has caused this Amendment No. 1 to be duly executed
this 25 day of November, 2002.

	
  Attest:

  	
   

  	
  VWR INTERNATIONAL, INC.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
   

  

 

9

 

AMENDMENT NO. 2

TO THE

VWR INTERNATIONAL, INC.

RETIREMENT PLAN

 

(As Amended and Restated
Effective January 1, 2001)

 

WHEREAS, VWR International, Inc. (the
“Corporation”) maintains the VWR International, Inc. Retirement Plan (the
“Plan”) for the benefit of the eligible employees of the Corporation and its
participating affiliates; and

WHEREAS, the Plan was most recently amended and
restated effective January 1, 2001, and was further amended by Amendment No. 1
effective January 1, 2003; and

WHEREAS, the Corporation desires to amend the
Plan in order to comply with the requirements of the District Director of
Internal Revenue;

NOW, THEREFORE, effective on and after January 1, 2001,
and prior to January 1, 2003, Section 3.4 the Plan is hereby amended to
read as follows:

3.4           Requirements
Concerning Distributions.

All benefit distributions under the Plan shall be
subject to the following requirements:

(a)           Before
Death.

(1)           Commencement of
Benefit Payments.  The distribution
of benefits to each Participant who is entitled to a benefit under the Plan
shall be made or shall commence not later than April 1 of the calendar year
following the calendar year in which he or she attains age 701⁄2.  Any additional benefits which accrue after a
Participant begins receiving distributions under this subparagraph (1)
shall be distributed as a separate identifiable component beginning with the
first payment interval ending in the calendar year immediately following the
calendar year in which the benefits accrue. 
Additional benefit accruals for a calendar year shall be reduced (but
not below zero) by the Actuarial Equivalent of the benefit payments made to the
Participant during that calendar year, as permitted by
section 411(b)(1)(H)(iii)(I) and regulations thereunder.

 

 

(2)           Duration of
Benefit Payments.  The distribution
of benefit payments to each Participant shall be made under regulations
prescribed by the Secretary of the Treasury:

(A)          Over the life of the
Participant, or over the lives of the Participant and his or her designated
Beneficiary; or

(B)           Over a period not
extending beyond the life expectancy of the Participant or the joint life and
last survivor expectancy of the Participant and his or her designated
Beneficiary.

(b)           After
Death.

(1)           Distributions
Already Begun.  If a Participant
dies after distribution of his or her interest has commenced under
paragraph (a), the remaining portion of his or her interest shall be
distributed at least as rapidly as his or her interest would have been
distributed under the method in effect as of the date of his or her death.

(2)           Rule for Other
Cases.  If a Participant dies before
distribution of his or her interest has commenced, and if any portion of his or
her interest is payable to (or for the benefit of) his or her designated
Beneficiary, distribution may be made, under regulations prescribed by the
Secretary of the Treasury, over the life of the designated Beneficiary or over
a period not extending beyond the life expectancy of the designated
Beneficiary, provided the distribution commences not later than the latest of:

(A)          December 31 of the
calendar year after the calendar year of the Participant’s death;

(B)           Any later date
prescribed by regulations of the Secretary of the Treasury; or

(C)           If the Participant’s
designated Beneficiary is his or her surviving spouse, December 31 of the
calendar year in which the Participant would have attained age 701⁄2.

In any other case, the entire benefit of the
Participant shall be distributed no later than December 31 of the calendar year
including the fifth anniversary of his or her death.

 

2

 

For purposes of this subparagraph (2), distributions shall be made
under the method which results in later commencement unless the Beneficiary
irrevocably elects otherwise prior to the date on which distributions are
required to commence under the method elected by the Beneficiary.

(3)           Special Rule for
Surviving Spouse.  For purposes of
subparagraph (2), if the Participant’s designated Beneficiary is his or
her surviving spouse and his or her surviving spouse dies before distributions
begin, then this paragraph (b) shall be applied as if the surviving spouse
were the Participant.

(4)           Special Rule for
Child.  Under regulations prescribed
by the Secretary of the Treasury, any amount paid to a child under this
paragraph (b) shall be treated as if it had been paid to a surviving
spouse, provided the amount will become payable to the surviving spouse upon
the child’s attaining majority (or upon any other designated event permitted under
the regulations).

(c)           Regulations
Control.  Notwithstanding any other
provision of the Plan, distributions under the Plan shall comply with
section 401(a)(9) of the Code, including the minimum distribution
incidental benefit requirements of section 401(a)(9)(G) of the Code, and
regulations issued thereunder.  This
Section 3.4 and section 401(a)(9) of the Code shall take precedence
over any distribution options in the Plan inconsistent with this Section 3.4
or section 401(a)(9) of the Code. 
With respect to distributions under the Plan made in calendar years
beginning on or after January 1, 2001, the Plan shall apply the minimum
distribution requirements of section 401(a)(9) in accordance with the
regulations thereunder which were proposed in January 2001, notwithstanding any
provision of the Plan to the contrary. 
This provision shall continue in effect until the end of the last
calendar year beginning before the effective date of final regulations under
section 401(a)(9) of the Code or such other date as is specified in
guidance published by the Internal Revenue Service.

IN WITNESS WHEREOF, VWR International, Inc. has caused this
Amendment No. 2 to be duly executed this 25 day of September, 2003.

	
  Attest:

  	
   

  	
  VWR INTERNATIONAL, INC.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
   

  

 

3

 

AMENDMENT NO. 3

TO THE

VWR INTERNATIONAL, INC.

RETIREMENT PLAN

 

(As Amended and Restated
Effective January 1, 2001)

 

WHEREAS, VWR International, Inc. (the
“Corporation”) maintains the VWR International, Inc. Retirement Plan (the
“Plan”) for the benefit of the eligible employees of the Corporation and its
participating affiliates; and

WHEREAS, the Plan was most recently amended and
restated effective January 1, 2001, and was further amended by Amendments No. 1
and 2; and

WHEREAS, the Corporation desires to amend the
Plan in order to comply with recent regulations under §417(e) of the Internal
Revenue Code of 1986, as amended;

NOW, THEREFORE, effective with respect to distributions
with Annuity Starting Dates on or after January 1, 2004, the Plan is hereby
amended as follows:

1.             A
new Section 5.4A is added to the Plan to read as follows:

5.4A        Retroactive
Annuity Starting Dates. 
Notwithstanding the requirements of Sections 5.1 and 5.4, a
Participant may elect an Annuity Starting Date which is on or before the date
the explanation described in Section 5.4 is provided to the Participant (a
“retroactive Annuity Starting Date”), provided that:

(a)           The requirements of
Treas. Reg. §1.417(e)-1(b)(3)(iv) and (v) or any successor thereto
are satisfied; and

(b)           The retroactive
Annuity Starting Date is the later of (i) the Participant’s Regular Retirement
Date, or (ii) the first date of the month on or after the date of the
Participant’s termination of employment.

Notwithstanding Section 5.2, if the Participant’s
spouse as of a retroactive Annuity Starting Date is not the Participant’s
spouse as of the date distributions actually commence, that former spouse is
not required to consent to the Participant’s waiver of the Joint and Survivor
Annuity, unless otherwise provided under a Qualified Domestic Relations
Order.  (However, the consent of the
Participant’s spouse as of the actual commencement date may be required

 

 

under Treas.
Reg. §1.417(e)-1(b)(3)(v), even if the benefit is payable in the
form of a Joint and Survivor Annuity.)

If a retroactive Annuity Starting Date is elected
under this Section 5.4A, then the date distributions actually commence
shall be substituted for the Annuity Starting Date for purposes of the timing
requirements of Sections 5.1, 5.2, and 5.4 for the Participant’s waiver
notice and election of an optional form of payment and the provision of the
explanation to the Participant.

2.             Section 10.5(b)
of the Plan is amended to read as follows:

10.5         Claims
Procedure.

*            *            *

(b)           Commencement of
Payment

The payment of benefits shall commence no later than
60 days after the retirement date specified herein for commencement of such
benefits.  If the information required
above is not available prior to said retirement date, the amount of payment
required to commence will not be ascertainable.  In such event, the commencement of payments shall be delayed
until no more than 60 days after the date the amount of such payment is
ascertainable.  To the extent permitted
under Section 5.4A, a Participant may elect a retroactive Annuity Starting
Date, in which case a lump-sum payment retroactive to the applicable
retroactive Annuity Starting Date shall be made and monthly payments shall
commence.

IN WITNESS WHEREOF, VWR International, Inc. has caused this
Amendment No. 3 to be duly executed this 16 day of January, 2004.

	
  Attest:

  	
   

  	
  VWR INTERNATIONAL, INC.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
   

  
	
  Stephen J. Kunst

  	
   

  	
   

  	
  Walter W.
  Zywottek

  

 

2Exhibit
10.11

VWR CORPORATION

SUPPLEMENTAL BENEFITS PLAN

(As Amended and Restated Effective
November 1, 1990)

1.             Purpose.  The purpose in establishing this
Supplemental Benefits Plan is to provide retirement compensation to
specifically designated participants of the VWR Corporation Retirement Plan
(“Retirement Plan”) under the terms of that Retirement Plan without regard to
limitations on benefits imposed under Internal Revenue Code (“Code”) Sections
415 and Section 401(a)(17) which apply to the Retirement Plan.

2.             Effective
Date.  This Plan was established
effective March 1, 1986 and was restated in its entirety effective November 1,
1990.

3.             Participation.  This Plan shall include only those
management or highly compensated employees who have been specifically
designated by the President of VWR Corporation as eligible to participate in
this Plan.  Such employees shall be
referred to hereinafter as “Participants.” 
An employee’s designation as a Participant may be revoked by the
Compensation Committee at any time upon recommendation of the President of VWR
Corporation.  Upon such revocation, the
employee shall only be entitled to benefits that may have accrued and become
vested under the Plan on or before the date of such revocation.

4.             Benefit
Determination Date.  Benefits shall
be determined under this Plan as of the same date that benefits are determined
under the Retirement Plan.

5.             Benefit
Amount.  The benefits under this
Plan shall equal the difference, if any, between (a) and (b) below:

(a)           The vested monthly benefit for the
life of the Participant, as calculated under the Retirement Plan, without
regard to the limitations described in Internal Revenue Code Sections 415 and
401(a)(17), as amended from time to time, and as described in regulations and publications
issued under those Code Sections.

(b)           The vested monthly benefit for the
life of the Participant, as calculated under the terms of the Retirement Plan,
which includes limitations described in Internal Revenue Code Sections 415 and
401(a)(17), as amended from time to time, and as described in regulations and
publications issued under those Code Sections.

6.             Spouse’s
Death Benefit.  If a death benefit
is payable under the Retirement Plan to a spouse of a Participant, that spouse
is eligible to receive benefits under this

 

 

Plan.  The benefit shall be calculated in the same
manner as under Section 5; that is, the death benefit under this Plan shall
equal the difference, if any, between (a) the spouse’s death benefit calculated
under the Retirement Plan without regard to the limitations described in Code
Sections 415 and 401(a)(17), and (b) the spouse’s death benefit as calculated
under the terms of the VWR Corporation Retirement Plan which includes
limitations described in Code Sections 415 and 401(a)(17).

7.             Date
and Form of Payment.  Benefit
payments under this Plan shall commence at the same time as the benefit under
the Retirement Plan commences.  The
benefit shall be paid in the same form as the benefit is paid under the
Retirement Plan and the actuarial equivalent assumptions used in determining
the benefit in a given form shall be the same as are used to determine the
benefit under the Retirement Plan.

8.             Reemployment
After Payments Begin.  If a
Participant is reemployed after benefits commence, the Participant shall
continue receiving benefits under this Plan. 
When the Participant retires for the final time, the benefit under this
Plan shall be adjusted in the same manner as the benefit is adjusted under the
Retirement Plan.

9.             Termination
and Amendment of the Plan.  This
Plan shall continue in effect until terminated by resolution of the Board of
Directors.  In the event of such
termination, all amounts accrued and vested to date of termination shall be
payable pursuant to the terms of this Plan as if the Plan had not been
terminated.  The Plan may be amended
from time to time by resolution of the Board of Directors.  No amendment or terminating resolution shall
reduce any vested benefit accrued to the date of the resolution amending or
terminating the Plan.  This Plan is
intended to be exempt from the provisions of Parts 2, 3 and 4 of Title I of the
Employee Retirement Income Security Act of 1974, as amended.

10.           Source
of Benefit Payments.  No Participant
shall acquire any property interest in any assets of VWR Corporation as a
consequence of participating in this Plan. 
A Participant’s rights are limited to receiving payments as set forth in
this Plan.  The Plan is unfunded, and to
the extent that any Participant acquires a right to receive benefits, such
right shall be no greater than the right of any unsecured general creditor of
VWR Corporation.  Any funds of VWR
Corporation available to pay benefits under the Plan shall be subject to the
claims of general creditors of VWR Corporation and may be used for any purpose
by VWR Corporation.

11.           Retirement
Plan Committee.  This Plan shall be
administered by the Retirement Plan Committee (“Committee”).  The Committee shall have full discretion to
construe and interpret the terms and provisions of this Plan, which
interpretation or construction shall be final and binding on all parties.  The Committee shall administer such terms
and provisions in a uniform and nondiscriminatory manner.

 

2

 

12.           Claims
Procedure.  The following is the
procedure for making claims under this Plan or appealing a decision made with
respect to this Plan.

(a)           Filing
Claim for Benefits.  If a person
does not receive the timely payment of the benefits which he or she believes are
due under the Plan, such person (hereinafter referred to as the “Applicant”)
may make a claim for benefits.  All
claims for benefits under the Plan shall be made in writing and shall be signed
by the Applicant.  Claims shall be
submitted to the Committee.  Each claim
shall be approved or disapproved within 90 days following the receipt of the
information necessary to process the claim. 
In the event the Committee denies a claim for benefits in whole or in
part, the Committee shall notify the Applicant in writing of the denial of the
claim and notify the Applicant of the right to a review of the decision.  Such notice shall also set forth the
specific reason for such denial, the specific provisions of the Plan on which
the denial is based, a description of any additional material or information
necessary to perfect the claim with an explanation of why such material or
information is necessary, and an explanation of the Plan’s appeals
procedure.  If no action is taken by the
Committee on an Applicant’s claim within 90 days after receipt by the
Committee, such claim shall be deemed to be denied for purposes of the
following appeals procedure.

(b)           Appeals
Procedure.  Any Applicant whose
claim for benefits is denied in whole or in part may appeal to the Committee
for a review of the decision.  Such
appeal must be made within three months after the Applicant has received actual
or constructive notice of the denial. 
An appeal must be submitted in writing within such period and must:

(i)            Request a review by the Committee of
the claim for benefits under the Plan;

(ii)           Set forth all of the grounds upon
which the Applicant’s request for review is based on and any facts in support
thereof; and

(iii)          Set forth any issues and comments
which the Applicant deems pertinent to the appeal.

The Committee shall act upon each appeal within 60
days after receipt unless special circumstances require an extension of the
time for processing, in which case a decision shall be rendered by the
Committee as soon as possible but not later than 120 days after the appeal is
received by the Committee.  The
Committee shall make full and fair review of each appeal and any written
materials submitted by the Applicant in connection.  The Committee may require the Applicant to submit such additional
facts, documents or other evidence as the Committee in its discretion deems
necessary or advisable in making its review. 
On the basis of its review, the Committee shall make an

 

3

 

independent determination of the Applicant’s
eligibility for benefits under the Plan. 
The decision of the Committee shall be final and conclusive.

13.           Alienation.  The right of any person to receive payments
under this Plan shall not be subject to any type of assignment or pledge, nor
shall such right be liable for or subject to the debts, contracts, liabilities
or torts of such person.

14.           Employee
Benefit Statement.  Each employee
covered by this Plan shall receive a statement each year which shows total
benefits accrued under this Plan.

15.           Withholding.  Benefit payments shall be subject to
applicable federal, state or local withholding for taxes.

16.           Successors.  In the event of any consolidation, merger,
acquisition or reorganization, the obligations of VWR Corporation under this
Plan shall continue and be binding on VWR Corporation and its successors.

17.           Governing
Law.  This Plan shall be construed
in accordance with applicable federal law, and, to the extent federal law is
inapplicable, under the laws of the Commonwealth of Pennsylvania.

DATED as of the      5th     
day of      June     ,
1991.

	
   

  	
  VWR CORPORATION

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  

 

 

4

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