Document:

Exhibit 4.4

 

SIMPSON MANUFACTURING CO., INC. 401(K) PROFIT SHARING PLAN FOR HOURLY EMPLOYEES

 

 

ADOPTION AGREEMENT #005

NONSTANDARDIZED 401(k) PLAN

[Related Employers only]

 

The undersigned Employer, by executing this Adoption Agreement, establishes a retirement plan and trust (collectively “Plan”) under the Milliman, Inc. Defined Contribution Prototype Plan and Trust (basic plan document #03). The Employer, subject to the Employer’s Adoption Agreement elections, adopts fully the Prototype Plan and Trust provisions. This Adoption Agreement, the basic plan document and any attached Appendices or agreements permitted or referenced therein, constitute the Employer’s entire plan and trust document. All “Election” references within this Adoption Agreement are Adoption Agreement Elections. All “Article” or “Section” references are basic plan document references. Numbers in parentheses which follow election numbers are basic plan document references. Where an Adoption Agreement election calls for the Employer to supply text, the Employer (without altering the content of any existing printed text) may lengthen any space or line, or create additional tiers. When Employer-supplied text uses terms substantially similar to existed printed options, all clarifications and caveats applicable to the printed options apply to the Employer-supplied text unless the context requires otherwise. The Employer makes the following elections granted under the corresponding provisions of the basic plan document.

 

ARTICLE I

DEFINITIONS

 

	
1.
    	
EMPLOYER  (1.23).
    	
 
    	
 
    
	
 
    	
Name:   Simpson Manufacturing Co., Inc
    	
 
    	
 
    
	
 
    	
Address:   5956 W. Las Positas Blvd., Pleasanton, California 94588
    	
 
    	
 
    
	
 
    	
Phone   number: (925) 560-9000
    	
 
    	
 
    
	
 
    	
E-mail   (optional):
    	
 
    	
 
    
	
 
    	
Employer’s   Taxable Year: December 31st
    	
 
    	
 
    
	
 
    	
EIN:   94-3196943
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
2.
    	
PLAN  (1.40).
    	
 
    	
 
    
	
 
    	
Name:   Simpson Manufacturing Co., Inc. 401(k) Profit Sharing Plan for   Hourly Employees
    
	
 
    	
Plan   number: 002                                            (3-digit number for Form 5500 reporting)
    
	
 
    	
Trust   EIN (optional): 42-1558009
    
	
 
    	
 
    	
 
    	
 
    
	
3.
    	
PLAN/LIMITATION YEAR   (1.42/1.33). Plan Year and Limitation Year mean the 12   consecutive month period (except for a 
    
	
short Plan/Limitation   Year) ending every (Complete (a) and   (b)):
    

 

[Note: Complete any applicable blanks under Election 3 with a specific date, e.g., “June 30” OR “the last day of February” OR “the first Tuesday in January.” In the case of a Short Plan Year or a Short Limitation Year, include the year, e.g., “May 1, 2008.”]

 

	
(a)
    	
 
    	
Plan Year (Choose   one of (1) or (2) and choose (3) if applicable):
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
(1)
    	
x
    	
 
    	
December 31.
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
(2)
    	
o
    	
 
    	
Fiscal Plan Year: ending:
    	
 
    	
.
    	
 
    	
 
    
	
 
    	
 
    	
(3)
    	
o
    	
 
    	
Short Plan Year: commencing:   
    	
 
    	
and   ending:   
    	
 
    	
.
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
(b)
    	
 
    	
Limitation Year (Choose   one of (1) or (2) and choose (3) if applicable):
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
(1)
    	
x
    	
 
    	
Generally same as Plan Year. The   Limitation Year is the same as the Plan Year except where the Plan Year is a   short year in which event the Limitation Year is always a 12 month period,   unless the short Plan Year (and short Limitation Year) result from a Plan   amendment.
    
	
 
    	
 
    	
(2)
    	
o
    	
 
    	
Different Limitation Year: ending:   
    	
 
    	
.
    	
 
    	
 
    
	
 
    	
 
    	
(3)
    	
o
    	
 
    	
Short Limitation Year: commencing: 
    	
 
    	
and   ending:   
    	
 
    	
.
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
4.
    	
 
    	
EFFECTIVE DATE  (1.19).   The Employer’s adoption of the Plan is a (Choose   one of (a), (b), or (c). Choose (d) if applicable):
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
(a)
    	
 
    	
o
    	
New Plan. The Plan’s Effective Date   is:   
    	
.
    	
 
    
	
(b)
    	
 
    	
x
    	
Restated Plan. The Plan’s restated   Effective Date is: May 1, 2011. The Plan’s original Effective Date was:   January 1, 1984.
    
																				

 

[Note: See Section 1.51 for the definition of Restated Plan. If this Plan is an EGTRRA restatement: (i) the EGTRRA restatement Effective Date must be the later of the beginning of the 2002 Plan Year or the Plan’s original Effective Date; and (ii) if specific Plan provisions, as reflected in this Adoption Agreement, do not date back to the EGTRRA restatement Effective Date, indicate as such in Appendix A.]

 

1

 

(c)               o                Restatement of surviving and merging plans. The Plan restates two (or more) plans (Complete (1) and (2). Choose (3) as applicable):

 

(1)               This (surviving) Plan. The Plan’s restated Effective Date is:                         . The Plan’s original Effective Date was:                         .

 

[Note:  If this Plan is an EGTRRA restatement: (i) the EGTRRA restatement Effective Date must be the later of the beginning of the 2002 Plan Year or the Plan’s original Effective Date; and (ii) if specific Plan provisions, as reflected in this Adoption Agreement, do not date back to the EGTRRA restatement Effective Date, indicate as such in Appendix A.]

 

(2)               Merging plan. The                              Plan was or will be merged into this surviving Plan as of:                    . The merging plan’s restated Effective Date is:                         . The merging plan’s original Effective Date was:                  .

 

[See the Note under Election 4(c)(1) if this document is the merging plan’s EGTRRA restatement.]

 

(3)               o                Additional merging plans. The following additional plans were or will be merged into this surviving Plan (Complete a. and b. as applicable):

 

	
 
    	
Name of merging plan
    	
 
    	
Merger date
    	
 
    	
Restated
   Effective Date
    	
 
    	
Original
   Effective Date
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
a.
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
b.
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    

 

(d)              x              Special Effective Date for Elective Deferral provisions: May 1, 2011

 

5.                    TRUSTEE  (1.65). The Trustee executing this Adoption Agreement is (Choose one or more of (a), (b), or (c). Choose (d) if applicable):

 

(a)               o                A discretionary Trustee. See Section 8.02(A).

 

(b)              x              A nondiscretionary (directed) Trustee or Custodian. See Section 8.02(B).

 

(c)               x              A Trustee under the: Charles Schwab Trust Company (specify name of trust), a separate trust agreement the Trustee has executed and that the IRS has approved for use with this Plan. Under this Election 5(c) the Trustee is not executing the Adoption Agreement and Article VIII of the basic plan document does not apply, except as indicated otherwise in the separate trust agreement. See Section 8.11(C).

 

(d)              o                Permitted Trust amendments apply. Under Section 8.11 the Employer in Appendix C has made certain permitted amendments to the Trust. Such amendments do not constitute a separate trust under Election 5(c).

 

6.                    CONTRIBUTION TYPES  (1.12). The Employer and/or Participants, in accordance with the Plan terms, make the following Contribution Types to the Plan/Trust (Choose one or more of (a) through (h) as applicable. Choose (i) if applicable):

 

(a)               x              Pre-Tax Deferrals. See Section 3.02 and Elections 20-23.

 

(b)              o                Roth Deferrals. See Section 3.02(E) and Elections 20, 21, and 23. [Note: The Employer may not limit Elective Deferrals to Roth Deferrals only.]

 

(c)               o                Matching. See Sections 1.34 and 3.03 and Elections 24-26. [Note: The Employer may make an Operational QMAC without electing 6(c). See Section 3.03(C)(2).]

 

(d)              x              Nonelective. See Sections 1.37 and 3.04 and Elections 27-29. [Note: The Employer may make an Operational QNEC without electing 6(d). See Section 3.04(C)(2).]

 

(e)               x              Safe Harbor/Additional Matching. The Plan is (or pursuant to a delayed election, may be) a safe harbor 401(k) Plan. The Employer will make (or under a delayed election, may make) Safe Harbor Contributions as it elects in Election 30. The Employer may or may not make Additional Matching Contributions as it elects in Election 30. See Election 26 as to matching Catch-Up Deferrals. See Section 3.05.

 

(f)                 o                Employee (after-tax). See Section 3.09 and Election 35.

 

(g)              o                SIMPLE 401(k). The Plan is a SIMPLE 401(k) Plan. See Section 3.10. The Employer operationally will elect for each Plan Year to make a SIMPLE Matching Contribution or a SIMPLE Nonelective Contribution as described in Section 3.10(E). The Employer must notify Participants of the Employer’s SIMPLE contribution election and of the Participants’ deferral election rights and limitations within a reasonable period of time before the 60th day prior to the beginning of the Plan Year. [Note: The Employer electing 6(g) may not elect any other Contribution Types except under Elections 6(a), 6(b), and 6(h).]

 

(h)              o                Designated IRA. See Section 3.12 and Election 36.

 

(i)                  o                None (frozen plan). The Plan is/was frozen effective as of:                              . See Sections 3.01(J) and 11.04.

 

[Note: Elections 20 through 30 and Elections 35 through 37 do not apply to any Plan Year in which the Plan is frozen.]

 

2

 

7.                    DISABILITY  (1.15). Disability means (Choose one of (a) or (b)):

 

(a)               x              Basic Plan. Disability as defined in Section 1.15(A).

 

(b)              o                Describe:

 

[Note: The Employer may elect an alternative definition of Disability for purposes of Plan distributions. However, the use of an alternative definition may result in loss of favorable tax treatment of the Disability distribution.]

 

8.                    EXCLUDED EMPLOYEES  (1.21(D)). The following Employees are not Eligible Employees but are Excluded Employees (Choose one of (a) or (b)):

 

[Note: Regardless of the Employer’s elections under Election 8: (i) Employees of any Related Employers (excluding the Signatory Employer) are Excluded Employees unless the Related Employer becomes a Participating Employer; and (ii) Reclassified Employees and Leased Employees are Excluded Employees unless the Employer in Appendix B elects otherwise. See Sections 1.21(B), 1.21(D)(3) and 1.23(D).]

 

(a)               o                No Excluded Employees. All Employees are Eligible Employees as to all Contribution Types.

 

(b)              x              Exclusions. The following Employees are Excluded Employees (either as to all Contribution Types or to the designated Contribution Type) (Choose one or more of (1) through (7) as applicable):

 

[Note: For this Election 8, unless described otherwise in Election 8(b)(7), Elective Deferrals includes Pre-Tax Deferrals, Roth Deferrals, Employee Contributions and Safe Harbor Contributions. Matching includes all Matching Contributions except Safe Harbor Matching Contributions. Nonelective includes all Nonelective Contributions except Safe Harbor Nonelective Contributions.]

 

	
 
    	
 
    	
 
    	
 
    	
(1)
    	
 
    	
 
    	
 
    	
(2)
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
All
    	
 
    	
 
    	
 
    	
Elective
    	
 
    	
(3)
    	
 
    	
(4)
    
	
 
    	
 
    	
 
    	
 
    	
Contributions
    	
 
    	
 
    	
 
    	
Deferrals
    	
 
    	
Matching
    	
 
    	
Nonelective
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
(1)
    	
o
    	
No   exclusions. No   exclusions as to the designated Contribution Type.
    	
 
    	
N/A
    (See Election 8(a))
    	
 
    	
 
    	
 
    	
o
    	
 
    	
o
    	
 
    	
o
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
(2)
    	
x
    	
Collective   Bargaining (union) Employees. As described in Code §410(b)(3)(A).  See Section 1.21(D)(1).
    	
 
    	
x
    	
 
    	
OR
    	
 
    	
o
    	
 
    	
o
    	
 
    	
o
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
(3)
    	
x
    	
Non-Resident Aliens. As described in Code   §410(b)(3)(C). See Section 1.21(D)(2).
    	
 
    	
x
    	
 
    	
OR
    	
 
    	
o
    	
 
    	
o
    	
 
    	
o
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
(4)
    	
o
    	
HCEs. See Section 1.21(E). See Election   30(e) as to exclusion of some or all HCEs from Safe Harbor Contributions.
    	
 
    	
o
    	
 
    	
OR
    	
 
    	
o
    	
 
    	
o
    	
 
    	
o
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
(5)
    	
o
    	
Hourly   paid Employees.
    	
 
    	
o
    	
 
    	
OR
    	
 
    	
o
    	
 
    	
o
    	
 
    	
o
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
(6)
    	
o
    	
Part-Time/Temporary/Seasonal   Employees. See   Section 1.21(D)(4). A Part-Time, Temporary or Seasonal Employee is an   Employee whose regularly scheduled Service is less than           (specify a maximum of 1,000) Hours of Service in the   relevant Eligibility Computation Period.
    	
 
    	
o
    	
 
    	
OR
    	
 
    	
o
    	
 
    	
o
    	
 
    	
o
    

 

[Note: If the Employer under Election 8(b)(6) elects to treat Part-Time, Temporary and Seasonal Employees as Excluded Employees and any such an Employee actually completes at least 1,000 Hours of Service during the relevant Eligibility Computation Period, the Employee becomes an Eligible Employee. See Section 1.21(D)(4).]

 

	
(7)
    	
x
    	
Describe  exclusion category and/or Contribution Type:  (1) Salaried Employees and Directors,   (2) Employees with contractual exclusions from participation under the   Plan.
    
	
 
    	
 
    	
(e.g., Exclude Division B Employees OR Exclude   salaried Employees from Discretionary Matching Contributions.)
    

 

[Note: Any exclusion under Election 8(b)(7), except as to Part-Time/Temporary/Seasonal Employees, may not be based on age or Service or level of Compensation. See Election 14 for eligibility conditions based on age or Service.]

 

3

 

9.                    COMPENSATION  (1.11(B)). The following base Compensation (as adjusted under Elections 10 and 11) applies in allocating Employer Contributions (or the designated Contribution Type) (Choose one or more of (a) through (d) as applicable):

 

[Note: For this Election 9 all definitions include Elective Deferrals unless excluded under Election 11. See Section 1.11(D). Unless described otherwise in Election 9(d), Elective Deferrals includes Pre-Tax Deferrals, Roth Deferrals and Employee Contributions, Matching includes all Matching Contributions and Nonelective includes all Nonelective Contributions. In applying any Plan definition which references Section 1.11 Compensation, where the Employer in this Election 9 elects more than one Compensation definition for allocation purposes, the Plan Administrator will use W-2 Wages for such other Plan definitions if the Employer has elected W-2 Wages for any Contribution Type or Participant group under Election 9. If the Employer has not elected W-2 Wages, the Plan Administrator for such other Plan definitions will use 415 Compensation.]

 

	
 
    	
 
    	
 
    	
 
    	
(1)
    	
 
    	
 
    	
 
    	
(2)
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
All
    	
 
    	
 
    	
 
    	
Elective
    	
 
    	
(3)
    	
 
    	
(4)
    
	
 
    	
 
    	
 
    	
 
    	
Contributions
    	
 
    	
 
    	
 
    	
Deferrals
    	
 
    	
Matching
    	
 
    	
Nonelective
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
(a)
    	
x
    	
W-2 Wages (plus Elective Deferrals). See  Section 1.11(B)(1).
    	
 
    	
x
    	
 
    	
OR
    	
 
    	
o
    	
 
    	
o
    	
 
    	
o
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
(b)
    	
o
    	
Code §3401 Federal Income Tax Withholding Wages (plus   Elective Deferrals). See Section 1.11(B)(2).
    	
 
    	
o
    	
 
    	
OR
    	
 
    	
o
    	
 
    	
o
    	
 
    	
o
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
(c)
    	
o
    	
415 Compensation  (simplified). See   Section 1.11(B)(3). [Note: The   Employer may elect an alternative “general 415 Compensation” definition by   electing 9(c) and by electing the alternative definition in Appendix B.   See Section 1.11(B)(4).]
    	
 
    	
o
    	
 
    	
OR
    	
 
    	
o
    	
 
    	
o
    	
 
    	
o
    

 

	
(d)
    	
o
    	
Describe  Compensation by Contribution Type or by Participant   group:
    

 

[Note: Under Election 9(d), the Employer may: (i) elect Compensation from the elections available under Elections 9(a), (b), or (c), or a combination thereof as to a Participant group (e.g., W-2 Wages for Matching Contributions for Division A Employees and 415 Compensation in all other cases); and/or (ii) define the Contribution Type column headings in a manner which differs from the “all-inclusive” description in the Note immediately preceding Election 9(a) (e.g., Compensation for Safe Harbor Matching Contributions means W-2 Wages and for Additional Matching Contributions means 415 Compensation).]

 

10.              PRE-ENTRY/POST-SEVERANCE COMPENSATION  (1.11(H)/(I)). Compensation under Election 9 (Complete (a). Choose (b) if applicable):

 

[Note: The Plan does not take into account Post-Severance Compensation unless the Employer elects otherwise in Appendix B or except as otherwise specified in a Plan amendment. For this Election 10, unless described otherwise in Election 10(b), Elective Deferrals includes Pre-Tax Deferrals, Roth Deferrals and Employee Contributions, Matching includes all Matching Contributions and Nonelective includes all Nonelective Contributions.]

 

	
 
    	
 
    	
 
    	
 
    	
 
    	
(1)
    	
 
    	
 
    	
 
    	
(2)
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
All
    	
 
    	
 
    	
 
    	
Elective
    	
 
    	
(3)
    	
 
    	
(4)
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
Contributions
    	
 
    	
 
    	
 
    	
Deferrals
    	
 
    	
Matching
    	
 
    	
Nonelective
    
	
(a)
    	
x
    	
 
    	
Pre-Entry Compensation. Includes (Choose (1) and (2) as applicable):
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
(1)
    	
 
    	
o
    	
Plan Year. Compensation for the   entire Plan Year which includes the Participant’s Entry Date.
    	
 
    	
o
    	
 
    	
OR
    	
 
    	
o
    	
 
    	
o
    	
 
    	
o
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
(2)
    	
 
    	
x
    	
Participating Compensation. Only Participating   Compensation. See Section 1.11(H)(1).
    	
 
    	
x
    	
 
    	
OR
    	
 
    	
o
    	
 
    	
o
    	
 
    	
o
    

 

[Note: Under a Participating Compensation election, in applying any Adoption Agreement elected contribution limit or formula, the Plan Administrator will count only the Participant’s Participating Compensation. See Section 1.11(H)(1) as to plan disaggregation.]

 

	
(b)
    	
x
    	
Describe Pre-Entry Compensation by Contribution Type or by   Participant group:  For the   2011 safe harbor nonelective contribution, compensation shall be measured   from January 1, 2011.
    

 

[Note: Under Election 10(b), the Employer may: (i) elect Compensation from the elections available under Election 10(a) or a combination thereof as to a Participant group (e.g., Participating Compensation for all Contribution Types as to Division A Employees, Plan Year Compensation for all Contribution Types to Division B Employees); and/or (ii) define the Contribution Type column headings in a manner which differs from the “all-inclusive” description in the Note immediately preceding Election 10(a) (e.g., Compensation for Nonelective Contributions is Participating Compensation and for Safe Harbor Nonelective Contributions is Plan Year Compensation).]

 

4

 

11.              EXCLUDED COMPENSATION  (1.11(G)). Apply the following Compensation exclusions to Elections 9 and 10 (Choose one of (a) or (b)):

 

(a)               o                No exclusions. Compensation as to all Contribution Types means Compensation as elected in Elections 9 and 10.

 

(b)              x              Exclusions. Exclude the following (Choose one or more of (1) through (9) as applicable):

 

[Note: In a safe harbor 401(k) plan, allocations qualifying for the ADP or ACP test safe harbors must be based on a non-discriminatory definition of Compensation. If the Plan applies permitted disparity, allocations also must be based on a non-discriminatory definition of Compensation if the Plan is to avoid more complex testing. Elections 11(b)(4) through (b)(9) may cause allocation Compensation to fail to be non-discriminatory. In a non-safe harbor 401(k) plan, Elections 11(b)(4) through (b)(9) which result in Compensation failing to be non-discriminatory may result in more complex nondiscrimination testing. For this Election 11, unless described otherwise in Election 11(b)(9), Elective Deferrals includes Pre-Tax Deferrals, Roth Deferrals and Employee Contributions, Matching includes all Matching Contributions and Nonelective includes all Nonelective Contributions.]

 

	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
(1)
    	
 
    	
 
    	
 
    	
(2)
    	
 
    	
 
    	
 
    	
 
    	
 

	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
All
    	
 
    	
 
    	
 
    	
Elective
    	
 
    	
(3)
    	
 
    	
(4)
    	
 

	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
Contributions
    	
 
    	
 
    	
 
    	
Deferrals
    	
 
    	
Matching
    	
 
    	
Nonelective
    	
 

	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 

	
(1)
    	
 
    	
o
    	
 
    	
No exclusions-limited. No exclusions as to the designated   Contribution Type(s).
    	
 
    	
N/A
    (See Election   11(a))
    	
 
    	
 
    	
 
    	
o
    	
 
    	
o
    	
 
    	
o
    	
 

	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 

	
(2)
    	
 
    	
o
    	
 
    	
Elective   Deferrals. See   Section 1.20.
    	
 
    	
N/A
    	
 
    	
 
    	
 
    	
N/A
    	
 
    	
o
    	
 
    	
o
    	
 

	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 

	
(3)
    	
 
    	
o
    	
 
    	
Fringe   benefits. As   described in Treas. Reg. §1.414(s)-1(c)(3).
    	
 
    	
o
    	
 
    	
OR
    	
 
    	
o
    	
 
    	
o
    	
 
    	
o
    	
 

	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 

	
(4)
    	
 
    	
o
    	
 
    	
Compensation   exceeding $       . Apply this election to (Choose   one of a. or b.):
    	
 
    	
o
    	
 
    	
OR
    	
 
    	
o
    	
 
    	
o
    	
 
    	
o
    	
 

	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 

	
 
    	
 
    	
a.
    	
 
    	
o
    	
All Participants. [Note: If the Employer elects Safe Harbor Contributions   under Election 6(e), the Employer may not elect 11(b)(4)a. to limit the Safe   Harbor Contribution allocation to the NHCEs.]
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 

	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 

	
 
    	
 
    	
b.
    	
 
    	
o
    	
HCE Participants only.
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 

	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 

	
(5)
    	
 
    	
o
    	
 
    	
Bonus.
    	
 
    	
o
    	
 
    	
OR
    	
 
    	
o
    	
 
    	
o
    	
 
    	
o
    	
 

	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 

	
(6)
    	
 
    	
o
    	
 
    	
Commission.
    	
 
    	
o
    	
 
    	
OR
    	
 
    	
o
    	
 
    	
o
    	
 
    	
o
    	
 

	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 

	
(7)
    	
 
    	
o
    	
 
    	
Overtime.
    	
 
    	
o
    	
 
    	
OR
    	
 
    	
o
    	
 
    	
o
    	
 
    	
o
    	
 

	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 

	
(8)
    	
 
    	
o
    	
 
    	
Related Employers. See Section 1.23(C).

(If there are Related Employers, choose one or both of a.   and b. as applicable):
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 

	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 

	
 
    	
 
    	
a.
    	
 
    	
o
    	
Non-Participating. Compensation paid to Employees   by a Related Employer that is not a Participating Employer.
    	
 
    	
o
    	
 
    	
OR
    	
 
    	
o
    	
 
    	
o
    	
 
    	
o
    	
 

	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 

	
 
    	
 
    	
b.
    	
 
    	
o
    	
Participating. As to the Employees of   any Participating Employer, Compensation paid by any other Participating   Employer to its Employees. See Election 28(g)(2)a.
    	
 
    	
o
    	
 
    	
OR
    	
 
    	
o
    	
 
    	
o
    	
 
    	
o
    	
 

	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 

	
(9)
    	
 
    	
x
    	
 
    	
Describe Compensation   exclusion(s):  Payments   made under an incentive program, any other employer contributions to this   Plan or to any other Plan of deferred comp maintained by a Related Employer,   amounts realized from the exercise of a qualified stock option, amounts   realized when restricted stock is no longer subject to substantial risk of   forfeiture, amounts realized from the disposition of a qualified stock   option, all other amounts which receive special tax benefits and cashout of   excess vacation accruals are excluded for purposes of All Contributions.
    
																					

 

[Note: Under Election 11(b)(9), the Employer may: (i) describe Compensation from the elections available under Elections 11(b)(1) through (8), or a combination thereof as to a Participant group (e.g., No exclusions as to Division A Employees and exclude bonus as to Division B Employees); (ii) define the Contribution Type column headings in a manner which differs from the “all-inclusive” description in the Note immediately preceding Election 11(b)(1) (e.g.,  Elective Deferrals means §125 cafeteria deferrals only OR No exclusions as to Safe Harbor Contributions and exclude bonus as to Nonelective Contributions); and/or (iii) describe another exclusion (e.g., Exclude shift differential pay).]

 

5

 

12.     HOURS OF SERVICE  (1.31). The Plan credits Hours of Service for the following purposes (and to the Employees described in Elections 12(d) or (e)) as follows (Choose one or more of (a) through (e) as applicable):

 

	
 
    	
 
    	
 
    	
 
    	
 
    	
(1)
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
(4)
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
All
    	
 
    	
 
    	
 
    	
(2)
    	
 
    	
(3)
    	
 
    	
Allocation
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
Purposes
    	
 
    	
 
    	
 
    	
Eligibility
    	
 
    	
Vesting
    	
 
    	
Conditions
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
(a)
    	
x
    	
 
    	
Actual   Method. See Section 1.31(A)(1).
    	
 
    	
x
    	
 
    	
OR
    	
 
    	
o
    	
 
    	
o
    	
 
    	
o
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
(b)
    	
o
    	
 
    	
Equivalency   Method:            (e.g.,   daily,
    	
 
    	
o
    	
 
    	
OR
    	
 
    	
o
    	
 
    	
o
    	
 
    	
o
    	
 
    
	
 
    	
 
    	
 
    	
weekly, etc.). See   Section 1.31(A)(2).
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
(c)
    	
o
    	
 
    	
Elapsed   Time Method. See Section 1.31(A)(3).
    	
 
    	
o
    	
 
    	
OR
    	
 
    	
o
    	
 
    	
o
    	
 
    	
o
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
(d)
    	
o
    	
 
    	
Actual   (hourly) and Equivalency (salaried). Actual Method for hourly   paid Employees and Equivalency Method:               (e.g., daily, weekly, etc.) for   salaried Employees.
    	
 
    	
o
    	
 
    	
OR
    	
 
    	
o
    	
 
    	
o
    	
 
    	
o
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
(e)
    	
o
    	
 
    	
Describe   method:                                      
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    

 

[Note: Under Election 12(e), the Employer may describe Hours of Service from the elections available under Elections 12(a) through (d), or a combination thereof as to a Participant group and/or Contribution Type (e.g., For all purposes, Actual Method applies to office workers and Equivalency Method applies to truck drivers).]

 

13.     ELECTIVE SERVICE CREDITING  (1.56(C)). The Plan must credit Related Employer Service under Section 1.23(C) and also must credit certain Predecessor Employer/Predecessor Plan Service under Section 1.56(B). The Plan also elects under Section 1.56(C) to credit as Service the following Predecessor Employer service (Choose one of (a) or (b)):

 

(a)     x    Not applicable. No elective Predecessor Employer Service crediting applies.

 

(b)              o     Applies. The Plan credits the specified service with the following designated Predecessor Employers as Service for the Employer for the purposes indicated (Choose (1) and (2) as applicable. Complete (3). Choose (4) if applicable):

 

[Note: Any elective Service crediting under this Election 13 must be nondiscriminatory.]

 

(1)               o    All purposes. Credit Service for all purposes with Predecessor Employer(s):                                         (insert as many names as needed).

 

	
(2)
    	
o
    	
Designated   purposes. Credit Service with the following Predecessor   Employer(s) for the designated purpose(s): 
    	
 
    	
(1)
   Eligibility
    	
 
    	
(2)
   Vesting
    	
 
    	
(3)
   Contribution
   Allocation
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
a.
    	
Employer:
    	
 
    	
o
    	
 
    	
o
    	
 
    	
o
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
b.
    	
Employer:
    	
 
    	
o
    	
 
    	
o
    	
 
    	
o
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
c.
    	
Employer:
    	
 
    	
o
    	
 
    	
o
    	
 
    	
o
    	
 
    

 

(3)     Time period. Under Elections 13(b)(1) or (2), the Plan credits (Choose one or more of a., b., and c. as applicable):

 

a.                   o     All. All Service under Election(s) 13(b)        , regardless of when rendered.

 

b.                  o     Service after. All Service under Election(s) 13(b)        , which is or was rendered after:                         (specify date).

 

c.                   o     Service before. All Service under Election(s) 13(b)        , which is or was rendered before:                         (specify  date).

 

(4)    o     Describe elective Predecessor Employer Service crediting:                                                                               .

 

[Note: Under Election 13(b)(4), the Employer may describe service crediting from the elections available under Elections 13(b)(1) through (3), or a combination thereof as to a Participant group and/or Contribution Type (e.g., For all purposes credit service with X only on/after 1/1/05 OR Credit all service for all purposes with entities the Employer acquires after 12/31/04 OR Service crediting for X Company applies only for purposes of Nonelective Contributions and not for Matching Contributions).]

 

6

 

ARTICLE II

ELIGIBILITY REQUIREMENTS

 

14.     ELIGIBILITY  (2.01). To become a Participant in the Plan, an Eligible Employee must satisfy (Choose one of (a) or (b)):

 

[Note: If the Employer under a safe harbor plan elects “early” eligibility for Elective Deferrals (e.g., less than one Year of Service and age 21), but does not elect early eligibility for any Safe Harbor Contributions, also see Election 30(f).]

 

(a)               o     No conditions. No eligibility conditions as to all Contribution Types. Entry is on the Employment Commencement Date (if that date is also an Entry Date), or if later, upon the next following Plan Entry Date.

 

[Note: No eligibility conditions apply to Prevailing Wage Contributions unless the Prevailing Wage Contract provides otherwise. See Section 2.01(D).]

 

(b)              x     Conditions. The following eligibility conditions (either as to all Contribution Types or as to the designated Contribution Type) (Choose one or more of (1) through (8) as applicable):

 

[Note: For this Election 14, unless described otherwise in Election 14(b)(8)), or the context otherwise requires, Elective Deferrals includes Pre-Tax Deferrals, Roth Elective Deferrals and Employee Contributions, Matching includes all Matching Contributions (except Safe Harbor Matching Contributions under Section 3.05(E)(3) and Operational QMACs under Section 3.03(C)(2)) and Nonelective includes all Nonelective Contributions (except Safe Harbor Nonelective Contributions under Section 3.05(E)(2) and Operational QNECs under Section 3.04(C)(2)). Safe Harbor includes Safe Harbor Nonelective and Safe Harbor Matching Contributions. If the Employer elects more than one Year of Service as to Additional Matching, the Plan will not satisfy the ACP test safe harbor. See Section 3.05(F)(3).]

 

	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
(1)
    	
 
    	
 
    	
 
    	
(2)
    	
 
    	
 
    	
 
    	
 
    	
 
    	
(5)
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
All
    	
 
    	
 
    	
 
    	
Elective
    	
 
    	
(3)
    	
 
    	
(4)
    	
 
    	
Safe
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
Contributions
    	
 
    	
 
    	
 
    	
Deferrals
    	
 
    	
Matching
    	
 
    	
Nonelective
    	
 
    	
Harbor
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
(1)
    	
 
    	
o
    	
 
    	
None. Entry on the   Employment Commencement Date (if that date is also an Entry Date) or if   later, upon the next following Plan Entry Date.
    	
 
    	
N/A
    (See Election 14 (a))
    	
 
    	
 
    	
 
    	
o
    	
 
    	
o
    	
 
    	
o
    	
 
    	
o
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
(2)
    	
 
    	
x
    	
 
    	
Age 18 (not to exceed age 21).
    	
 
    	
x
    	
 
    	
OR
    	
 
    	
o
    	
 
    	
o
    	
 
    	
o
    	
 
    	
o
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
(3)
    	
 
    	
o
    	
 
    	
One   Year of Service. See Election 16(a).
    	
 
    	
o
    	
 
    	
OR
    	
 
    	
o
    	
 
    	
o
    	
 
    	
o
    	
 
    	
o
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
(4)
    	
 
    	
o
    	
 
    	
Two   Years of Service (without an intervening Break in Service). 100%   vesting is required. [Note: Two Years of   Service does not apply to Elective Deferrals, Safe Harbor Contributions or   SIMPLE Contributions.]
    	
 
    	
N/A
    	
 
    	
 
    	
 
    	
N/A
    	
 
    	
o
    	
 
    	
o
    	
 
    	
N/A
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
(5)
    	
 
    	
o
    	
 
    	
       month(s) (not   exceeding 12 months for Elective Deferrals, Safe Harbor Contributions and   SIMPLE Contributions and not exceeding 24 months for other contributions). If more   than 12 months, 100% vesting is required. Service need not be continuous (no   minimum Hours of Service required, and is mere passage of time).
    	
 
    	
o
    	
 
    	
OR
    	
 
    	
o
    	
 
    	
o
    	
 
    	
o
    	
 
    	
o
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
(6)
    	
 
    	
o
    	
 
    	
       month(s) with   at least         Hours of Service in   each month  (not exceeding 12 months   for Elective Deferrals, Safe Harbor Contributions and SIMPLE Contributions   and not exceeding 24 months for other contributions). If more than   12 months, 100% vesting is required. If the Employee does not complete the   designated Hours of Service each month during the specified monthly time   period, the Employee is subject to the one Year of Service (or two Years of   Service if elect more than 12 months) requirement with 1,000 Hours of Service   per Year of Service. The months during which the Employee completes the specified   Hours of Service (Choose one of a. or b.):
    	
 
    	
o
    	
 
    	
OR
    	
 
    	
o
    	
 
    	
o
    	
 
    	
o
    	
 
    	
o
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
a.
    	
 
    	
o  Consecutive. Must be consecutive.
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
b.
    	
 
    	
o  Not consecutive. Need not be consecutive.
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
																			

 

7

 

	
(7)
    	
 
    	
o
    	
 
    	
        Hours   of Service within the          time   period following the Employee’s Employment Commencement Date  (not exceeding 12 months for Elective Deferrals, Safe Harbor   Contributions and SIMPLE Contributions and not exceeding 24 months for other   contributions). If more than 12 months, 100% vesting is required.   If the Employee does not complete the designated Hours of Service during the specified   time period (if any), the Employee is subject to the one Year of Service (or   two Years of Service if elect more than 12 months) requirement with 1,000   Hours of Service per Year of Service.
    	
 
    	
o
    	
 
    	
OR
    	
 
    	
o
    	
 
    	
o
    	
 
    	
o
    	
 
    	
o
    	
 
    

 

[Note: The Employer may complete the second blank in Election 14(b)(7) with “N/A” if the Employer wishes to impose an Hour of Service requirement without specifying a time period within which an Employee must complete the required Hours of Service.]

 

(8)               o     Describe eligibility conditions:                                                                                                                                   

 

[Note: The Employer may use Election 14(b)(8) to describe different eligibility conditions as to different Contribution Types or Employee groups (e.g., As to all Contribution Types, no eligibility requirements for Division A Employees and one Year of Service as to Division B Employees). The Employer also may elect different ages for different Contribution Types and/or to specify different months or Hours of Service requirements under Elections 14(b)(5), (b)(6), or (b)(7) as to different Contribution Types. Any election must satisfy Code §410(a).]

 

15.     SPECIAL ELIGIBILITY EFFECTIVE DATE (DUAL ELIGIBILITY)  (2.01(E)). The eligibility conditions of Election 14 (Choose (a) or choose (b) and (c) as applicable):

 

(a)     x     No exceptions. Apply to all Employees.

 

[Note: Elections 15(b) or (c) may trigger a coverage failure under Code §410(b).]

 

(b)              o     Waiver of eligibility conditions for certain Employees. For all Contribution Types, apply solely to an Eligible Employee employed or reemployed by the Employer after                   (specify date). If the Eligible Employee was employed or reemployed by the Employer by the specified date, the Employee will become a Participant on the latest of: (i) the Effective Date; (ii) the restated Effective Date; (iii) the Employee’s Employment Commencement Date or Re-Employment Commencement Date; or (iv) on the date the Employee attains age          (not exceeding age 21).

 

[Note: If the Employer does not wish to impose an age condition under clause (iv) as part of the requirements for the eligibility conditions waiver, leave the age blank.]

 

(c)               o     Describe special eligibility Effective Date(s):

 

[Note: Under Election 15(c), the Employer may describe special eligibility Effective Dates as to a Participant group and/or Contribution Type (e.g., Eligibility conditions apply only as to Nonelective Contributions and solely as to the Eligible Employees of Division B who were hired or reemployed by the Employer after January 1, 2007).]

 

16.     YEAR OF SERVICE - ELIGIBILITY  (2.02(A)). (Choose (a), (b), and (c) as applicable):

 

[Note: If the Employer under Election 14 elects a one or two Year(s) of Service condition (including any requirement which defaults to such conditions under Elections 14(b)(6), (7), and (8)) or elects to apply a Year of Service for eligibility under any other Adoption Agreement election, the Employer should complete Election 16. The Employer should not complete Election 16 if it elects the Elapsed Time Method for eligibility.]

 

(a)               o     Year of Service. An Employee must complete          Hour(s) of Service during the relevant Eligibility Computation Period to receive credit for one Year of Service under Article II. [Note: The number may not exceed 1,000. If left blank, the requirement is 1,000 Hours of Service. Under Elections 14(b)(6) and (b)(7) and under Election 14(b)(8) if it incorporates Elections 14(b)(6) or (7), the number is 1,000 and the Employer should not supply any other number in the blank.]

 

(b)              o     Subsequent Eligibility Computation Periods. After the Initial Eligibility Computation Period described in Section 2.02(C)(2), the Plan measures Subsequent Eligibility Computation Periods as (Choose one of (1), (2), or (3)):

 

(1)               o     Plan Year. The Plan Year beginning with the Plan Year which includes the first anniversary of the Employee’s Employment Commencement Date.

 

(2)               o     Anniversary Year. The Anniversary Year, beginning with the Employee’s second Anniversary Year.

 

(3)               o     Split. The Plan Year as described in Election 16(b)(1) as to:                        (describe Contribution Type(s)) and the Anniversary Year as described in Election 16(b)(2) as to:                        (describe Contribution Type(s)).

 

[Note: To maximize delayed entry under a two Years of Service condition for Nonelective Contributions or Matching Contributions, the Employer should elect to remain on the Anniversary Year for such contributions.]

 

8

 

(c)              o     Describe:                                                                                                                             (e.g., Anniversary Year as to Division A and Plan Year as to Division B.)

 

17.     ENTRY DATE  (2.02(D)). Entry Date means the Effective Date and (Choose one or more of (a) through (f) as applicable):

 

[Note: For this Election 17, unless described otherwise in Election 17(f), Elective Deferrals includes Pre-Tax Deferrals, Roth Elective Deferrals and Employee Contributions, Matching includes all Matching Contributions (except Operational QMACs under Section 3.03(C)(2)) and Nonelective includes all Nonelective Contributions (except Operational QNECs under Section 3.04(C)(2)). Entry as to Prevailing Wage Contributions is on the Employment Commencement Date unless the Prevailing Wage Contract provides otherwise. See Section 2.02(D).]

 

	
 
    	
 
    	
 
    	
 
    	
 
    	
(1)
    	
 
    	
 
    	
 
    	
(2)
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
All
    	
 
    	
 
    	
 
    	
Elective
    	
 
    	
(3)
    	
 
    	
(4)
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
Contributions
    	
 
    	
 
    	
 
    	
Deferrals
    	
 
    	
Matching
    	
 
    	
Nonelective
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
(a)
    	
o
    	
 
    	
Semi-annual. The first   day of the first month and of the seventh month of the Plan Year.
    	
 
    	
o
    	
 
    	
OR
    	
 
    	
o
    	
 
    	
o
    	
 
    	
o
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
(b)
    	
x
    	
 
    	
First   day of Plan Year
    	
 
    	
o
    	
 
    	
OR
    	
 
    	
o
    	
 
    	
o
    	
 
    	
x
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
(c)
    	
o
    	
 
    	
First   day of each Plan Year quarter
    	
 
    	
o
    	
 
    	
OR
    	
 
    	
o
    	
 
    	
o
    	
 
    	
o
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
(d)
    	
o
    	
 
    	
The   first day of each  month
    	
 
    	
o
    	
 
    	
OR
    	
 
    	
o
    	
 
    	
o
    	
 
    	
o
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
(e)
    	
x
    	
 
    	
Immediate. Upon   Employment Commencement Date or if later, upon satisfaction of eligibility   conditions.
    	
 
    	
o
    	
 
    	
OR
    	
 
    	
x
    	
 
    	
o
    	
 
    	
o
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
(f)
    	
x
    	
 
    	
Describe   Entry Date(s):  For   purposes of safe harbor nonelective contributions, immediate entry will apply   upon Employment Commencement Date or if later, upon satisfaction of   elgibility conditions. In the first year of the safe harbor   401(k) arrangement, an employee will enter the safe harbor portion of   the Plan on the later of May 1, 2011 or the Employment Commencement Date   provided he or she is age 18 or older.
    	
 
    

 

[Note: Under Election 17(f), the Employer may describe Entry Dates from the elections available under Elections 17(a) through (e), or a combination thereof as to a Participant group and/or Contribution Type or may elect additional Entry Dates (e.g., As to Matching Contributions excluding Additional Matching, immediate as to Division A Employees and semi-annual as to Division B Employees OR the earlier of the Plan’s semi-annual Entry Dates or the entry dates under the Employer’s medical plan).]

 

18.     PROSPECTIVE/RETROACTIVE ENTRY DATE  (2.02(D)). An Employee after satisfying the eligibility conditions in Election 14 will become a Participant (unless an Excluded Employee under Election 8) on the Entry Date (if employed on that date) (Choose one or more of (a) through (f) as applicable):

 

[Note: Unless otherwise excluded under Election 8, an Employee who remains employed by the Employer on the relevant date must become a Participant by the earlier of: (i) the first day of the Plan Year beginning after the date the Employee completes the age and service requirements of Code §410(a); or (ii) 6 months after the date the Employee completes those requirements. For this Election 18, unless described otherwise in Election 18(f), Elective Deferrals includes Pre-Tax Deferrals, Roth Deferrals and Employee Contributions, Matching includes all Matching Contributions (except Operational QMACs under Section 3.03(C)(2)) and Nonelective includes all Nonelective Contributions, (except Operational QNECs under Section 3.04(C)(2)).]

 

	
 
    	
 
    	
 
    	
 
    	
 
    	
(1)
    	
 
    	
 
    	
 
    	
(2)
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
All
    	
 
    	
 
    	
 
    	
Elective
    	
 
    	
(3)
    	
 
    	
(4)
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
Contributions
    	
 
    	
 
    	
 
    	
Deferrals
    	
 
    	
Matching
    	
 
    	
Nonelective
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
(a)
    	
x
    	
 
    	
Immediately   following or coincident with the date the Employee   completes the eligibility conditions.
    	
 
    	
x
    	
 
    	
OR
    	
 
    	
o
    	
 
    	
o
    	
 
    	
o
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
(b)
    	
o
    	
 
    	
Immediately   following the date the Employee completes the eligibility   conditions.
    	
 
    	
o
    	
 
    	
OR
    	
 
    	
o
    	
 
    	
o
    	
 
    	
o
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
(c)
    	
o
    	
 
    	
Immediately   preceding or coincident with the date the Employee   completes the eligibility conditions.
    	
 
    	
N/A
    	
 
    	
 
    	
 
    	
N/A
    	
 
    	
o
    	
 
    	
o
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
(d)
    	
o
    	
 
    	
Immediately   preceding the date the Employee completes the eligibility   conditions.
    	
 
    	
N/A
    	
 
    	
 
    	
 
    	
N/A
    	
 
    	
o
    	
 
    	
o
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
(e)
    	
o
    	
 
    	
Nearest the date the   Employee completes the eligibility conditions.
    	
 
    	
N/A
    	
 
    	
 
    	
 
    	
N/A
    	
 
    	
o
    	
 
    	
o
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
(f)
    	
o
    	
 
    	
Describe   retroactive/prospective entry relative to Entry Date:
    	
 
    	
 
    	
 
    

 

[Note: Under Election 18(f), the Employer may describe the timing of entry relative to an Entry Date from the elections available under Elections 18(a) through (e), or a combination thereof as to a Participant group and/or Contribution Type (e.g., As to Matching Contributions excluding Additional Matching nearest as to Division A Employees and immediately following as to Division B Employees).]

 

9

 

19.     BREAK IN SERVICE — PARTICIPATION  (2.03). The one year hold-out rule described in Section 2.03(C) (Choose one of (a), (b), or (c)):

 

(a)     x     Does not apply.

 

(b)     o     Applies. Applies to the Plan and to all Participants.

 

(c)     o     Limited application. Applies to the Plan, but only to a Participant who has incurred a Severance from Employment.

 

[Note: The Plan does not apply the rule of parity under Code §410(a)(5)(D) unless the Employer in Appendix B specifies otherwise. See Section 2.03(D).]

 

ARTICLE III

PLAN CONTRIBUTIONS AND FORFEITURES

 

20.     ELECTIVE DEFERRAL LIMITATIONS  (3.02(A)). The following limitations apply to Elective Deferrals under Elections 6(a) and 6(b), which are in addition to those limitations imposed under the basic plan document (Choose (a) or choose (b) and (c) as applicable):

 

(a)     x     None. No additional Plan imposed limits.

 

[Note: The Employer under Election 20 may not impose a lower deferral limit applicable only to Catch-Up Eligible Participants and the Employer’s elections must be nondiscriminatory. The elected limits apply to Pre-Tax Deferrals and to Roth Deferrals unless described otherwise. Under a safe harbor plan: (i) NHCEs must be able to defer enough to receive the maximum Safe Harbor Matching and Additional Matching Contribution under the plan and must be permitted to defer any lesser amount; and (ii) the Employer may limit Elective Deferrals to a whole percentage of Compensation or to a whole dollar amount. See Section 1.54(C) as to administrative limitations on Elective Deferrals.]

 

(b)              o     Additional Plan limit(s).  (Choose (1) and (2) as applicable. Complete (3) if (1) or (2) is chosen):

 

(1)               o     Maximum deferral amount. A Participant’s Elective Deferrals may not exceed:                            (specify dollar amount or percentage of Compensation).

 

(2)               o     Minimum deferral amount. A Participant’s Elective Deferrals may not be less than:                            (specify dollar amount or percentage of Compensation).

 

(3)               Application of limitations. The Election 20(b)(1) and (2) limitations apply based on Elective Deferral Compensation described in Elections 9 — 11. If the Employer elects Plan Year/Participation Compensation under column (1) and in Election 10 elects Participating Compensation, in the Plan Years commencing after an Employee becomes a Participant, apply the elected minimum or maximum limitations to the Plan Year. Apply the elected limitation based on such Compensation during the designated time period and only to HCEs as elected below. (Choose a. or choose b. and c. as applicable. Under each of a., b. or c. choose one of (1) or (2). Choose (3) if applicable):

 

	
 
    	
 
    	
 
    	
 
    	
 
    	
(1)
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
Plan Year/Participating
    	
 
    	
(2)
    	
 
    	
(3)
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
Compensation
    	
 
    	
Payroll period
    	
 
    	
HCEs only
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
a.
    	
o
    	
 
    	
Both. Both limits under   Elections 20(b)(1) and (2).
    	
 
    	
o
    	
 
    	
o
    	
 
    	
o
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
b.
    	
o
    	
 
    	
Maximum   limit. The maximum    amount limit under Election 20(b)(1).
    	
 
    	
o
    	
 
    	
o
    	
 
    	
o
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
c.
    	
o
    	
 
    	
Minimum   limit. The minimum amount limit under Election 20(b)(2).
    	
 
    	
o
    	
 
    	
o
    	
 
    	
o
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    

 

(c)               o     Describe Elective Deferral limitation(s):

 

[Note: Under Election 20(c), the Employer: (i) may describe limitations on Elective Deferrals from the elections available under Elections 20(a) and (b) or a combination thereof as to a Participant group (e.g., No limit applies to Division A Employees. Division B Employees may not defer in excess of 10% of Plan Year Compensation); (ii) may elect a different time period to which the limitations apply; and/or (iii) may apply a different limitation to Pre-Tax Deferrals and to Roth Deferrals.]

 

10

 

21.     AUTOMATIC DEFERRAL  (3.02(B)). The Automatic Deferral provisions of Section 3.02(B) (Choose one of (a) or (b)):

 

(a)               x     Do not apply.

 

(b)              o     Apply. The Automatic Deferral Effective Date is:                          (specify date). (Complete (1), (2), and (3). Choose (4) as applicable):

 

(1)               Automatic Deferral Amount. The Employer, as to each Participant affected, will withhold as the Automatic Deferral Amount,            % from the Participant’s Compensation each payroll period unless the Participant makes a Contrary Election.

 

(2)               Participants affected. The Automatic Deferral applies to (Choose one of a., b., c., or d.):

 

a.                   o     All Participants. All Participants, regardless of any prior Salary Reduction Agreement, unless and until they make a Contrary Election after the Automatic Deferral Effective Date.

 

b.                  o     Election of at least Automatic Deferral Amount. All Participants, except those who have in effect a Salary Reduction Agreement on the Automatic Deferral Effective Date provided that the Elective Deferral amount under the Agreement is at least equal to the Automatic Deferral Amount.

 

c.                   o     No existing Salary Reduction Agreement. All Participants, except those who have in effect a Salary Reduction Agreement on the Automatic Deferral Effective Date regardless of the Elective Deferral amount under the Agreement.

 

d.                  o     New Participants. Each Employee whose Entry Date is on or following the Automatic Deferral Effective Date.

 

(3)               Scheduled increases. The Automatic Deferral Amount will or will not increase (as a percentage of Compensation) in Plan Years following the Plan Year containing the Automatic Deferral Effective Date (or, if later, the Plan Year in which the Automatic Deferral first applies to a Participant) as follows (Choose one of a., b., or c.):

 

a.                   o     No scheduled increase. The Automatic Deferral Amount applies in all Plan Years.

 

b.                  o     Scheduled increase. The Automatic Deferral Amount will increase as follows:

 

	
Plan Year of application to a Participant
    	
 
    	
Automatic Deferral Amount
    	
 
    
	
1
    	
 
    	
3
    	
%
    
	
2
    	
 
    	
3
    	
%
    
	
3
    	
 
    	
4
    	
%
    
	
4
    	
 
    	
5
    	
%
    
	
5 and thereafter
    	
 
    	
6
    	
%
    

 

c.                   o     Other scheduled increase. The Automatic Deferral Amount will increase as follows:

 

	
Plan Year of application to a Participant
    	
 
    	
Automatic Deferral Amount
    	
 
    
	
 
    	
 
    	
 
    	
%
    
	
 
    	
 
    	
 
    	
%
    
	
 
    	
 
    	
 
    	
%
    
	
 
    	
 
    	
 
    	
%
    
	
 
    	
 
    	
 
    	
%
    

 

(4)               o     Describe Automatic Deferral:

 

[Note: Under Election 21(b)(4), the Employer may describe Automatic Deferral provisions from the elections available under Election 21 and/or a combination thereof as to a Participant group (e.g., Automatic Deferrals do not apply to Division A Employees. All Division B Employee/Participants are subject to an Automatic Deferral Amount equal to 3% of Compensation effective as of January 1, 2008).]

 

22.     CODA  (3.02(C)). The CODA provisions of Section 3.02(C) (Choose one of (a) or (b)):

 

(a)               x     Do not apply.

 

(b)              o     Apply. For each Plan Year for which the Employer makes a designated CODA contribution under Section 3.02(C), a Participant may elect to receive directly in cash not more than the following portion (or, if less, the Elective Deferral Limit) of his/her proportionate share of that CODA contribution (Choose one of (1) or (2)):

 

(1)     o     All or any portion.

 

(2)     o            %

 

23.     CATCH-UP DEFERRALS  (3.02(D)). A Catch-Up Eligible Participant (Choose one of (a) or (b)):

 

(a)               x     Permitted. May make Catch-Up Deferrals to the Plan.

 

(b)              o     Not Permitted. May not make Catch-Up Deferrals to the Plan.

 

11

 

24.     MATCHING CONTRIBUTIONS (EXCLUDING SAFE HARBOR MATCH AND ADDITIONAL MATCH UNDER SECTION 3.05)  (3.03(A)). The Employer Matching Contributions under Election 6(c) are subject to the following additional elections regarding type (discretionary/fixed), rate/amount, limitations and time period (collectively, such elections are “the matching formula”) and the allocation of Matching Contributions is subject to Section 3.06 except as otherwise provided (Choose one or more of (a) through (g) as applicable; then, for the elected match, complete (1), (2), and/or (3) as applicable. If the Employer completes (2) or (3), also complete one of (4), (5), or (6)):

 

[Note: If the Employer wishes to make any Matching Contributions that satisfy the ADP or ACP safe harbor, the Employer should make these Elections under Election 30, and not under this Election 24.]

 

	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
(2)
    	
 
    	
 
    	
 
    	
 
    	
 
    	
(5)
    	
 
    	
(6)
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
(1)
    Match
   Rate/Amt
   [$/% of Elective
   Deferrals]
    	
 
    	
Limit on
   Deferrals
   Matched
   [$/% of
   Compensation]
    	
 
    	
(3)
   Limit on
   Match Amount
   [$/% of
   Compensation]
    	
 
    	
(4)
   Apply
   limit(s) per
   Plan Year
   [“true-up”]
    	
 
    	
Apply
   limit(s) per
   payroll
   period [no
   “true-up”]
    	
 
    	
Apply
   limit(s) per
   designated
   time period
   [no “true-up”]
    	
 
    
	
(a)
    	
o
    	
Discretionary   — see Section 1.34(B) (The Employer may, but is   not required to complete (a)(1)-(6). See the “Note” following Election 24.)
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
o
    	
 
    	
o
    	
 
    	
o
    	
 
    
	
(b)
    	
o
    	
Fixed — uniform   rate/amount
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
o
    	
 
    	
o
    	
 
    	
o
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
(c)
    	
o
    	
Fixed — tiered
    	
 
    	
Elective  Deferral %
    	
 
    	
Matching
   Rate
    	
 
    	
 
    	
 
    	
 
    	
 
    	
o
    	
 
    	
o
    	
 
    	
o
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
%
    	
 
    	
%
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
%
    	
 
    	
%
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
%
    	
 
    	
%
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
%
    	
 
    	
%
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
(d)
    	
o
    	
Fixed — Years of   Service
    	
 
    	
Years  of
   Service
    	
 
    	
Matching
   Rate
    	
 
    	
 
    	
 
    	
 
    	
 
    	
o
    	
 
    	
o
    	
 
    	
o
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
%
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
%
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
%
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
%
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
(1)
    	
“Years   of Service” under this Election 24(d) means (Choose   one of a. or b.):
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
a.    o    Eligibility. Years of Service for eligibility in Election   16.
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
b.    o    Vesting. Years of Service for vesting in Elections 42 and   43.
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
(e)
    	
o
    	
Fixed — multiple   formulas
    	
 
    	
Formula   1:
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
o
    	
 
    	
o
    	
 
    	
o
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
Formula   2:
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
o
    	
 
    	
o
    	
 
    	
o
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
Formula   3:
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
o
    	
 
    	
o
    	
 
    	
o
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
(f)
    	
o
    	
Related   and Participating Employers. If any Related and   Participating Employers contribute Matching Contributions to the Plan, the   following apply (Complete (1) and (2)):
    
	
 
    	
 
    	
 
    
	
 
    	
(1)
    	
Matching   formula. The matching formula for the Participating   Employer(s) (Choose one of a. or b.):
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
a.    o    All the same. Is (are) the same as for the Signatory   Employer under this Election 24.
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
b.    o    At least one different. Is (are) as follows:           .
    
	
 
    	
 
    	
 
    
	
 
    	
(2)
    	
Allocation   sharing. The Plan Administrator will allocate the Matching   Contributions made by the Signatory Employer and by any Participating   Employer (Choose one of a. or b.):
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
a.    o    Employer by Employer. Only to the Participants directly   employed by the contributing Employer.
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
b.    o    Across Employer lines. To all Participants regardless of   which Employer directly employs them and regardless of whether their direct   Employer made Matching Contributions for the Plan Year.
    

 

[Note: The Employer should not elect 24(f) unless there are Related Employers which are also Participating Employers. See Section 1.23(D).]

 

12

 

(g)              o     Describe:                                                         (e.g., A Discretionary Matching Contribution applies to Division A Participants. A Fixed Matching Contribution equal to 50% of Elective Deferrals not exceeding 6% of Plan Year Compensation applies to Division B Participants.)

 

[Note: See Section 1.34(A) as to Fixed Matching Contributions. A Participant’s Elective Deferral percentage is equal to the Participant’s Elective Deferrals divided by his/her Compensation. The matching rate/amount is the specified rate/amount of match for the corresponding Elective Deferral amount/percentage. Any Matching Contributions apply to Pre-Tax Deferrals and to Roth Deferrals unless described otherwise in Election 24(g). Matching Contributions for nondiscrimination testing purposes are subject to the targeting limitations. See Section 4.10(D). The Employer under Election 24(a) in its discretion may determine the amount of a Discretionary Matching Contribution and the matching contribution formula. Alternatively, the Employer in Election 24(a) may specify the Discretionary Matching Contribution formula.]

 

25.     QMAC (PLAN-DESIGNATED)  (3.03(C)(1)). The following provisions apply regarding Plan-Designated QMACs (Choose one of (a) or (b)):

 

[Note: Regardless of its elections under this Election 25, the Employer under Section 3.03(C)(2) may elect for any Plan Year where the Plan is using Current Year Testing to make Operational QMACs which the Plan Administrator will allocate only to NHCEs for purposes of correction of an ADP or ACP test failure.]

 

(a)               o     Not applicable. There are no Plan-Designated QMACs.

 

(b)              o     Applies. There are Plan-Designated QMACs to which the following provisions apply (Complete (1) and (2)):

 

(1)               Matching Contributions affected. The following Matching Contributions (as allocated to the designated allocation group under Election 25(b)(2)) are Plan-Designated QMACs (Choose one of a. or b.):

 

a.                   o     All. All Matching Contributions.

 

b.                  o     Designated. Only the following Matching Contributions under Election 24:                          .

 

(2)               Allocation Group. Subject to Section 3.06, allocate the Plan-Designated QMAC (Choose one of a. or b.):

 

a.                   o     NHCEs only. Only to NHCEs who make Elective Deferrals subject to the Plan-Designated QMAC.

 

b.                  o     All Participants. To all Participants who make Elective Deferrals subject to the Plan-Designated QMAC.

 

The Plan Administrator will allocate all other Matching Contributions as Regular Matching Contributions under Section 3.03(B), except as provided in Sections 3.03(C)(2) or 3.05.

 

[Note: See Section 4.10(D) as to targeting limitations applicable to QMAC nondiscrimination testing.]

 

26.     MATCHING CATCH-UP DEFERRALS  (3.03(D)). If a Participant makes a Catch-Up Deferral, the Employer (Choose one of (a) or (b)):

 

(a)               o      Match. Will apply to the Catch-Up Deferral (Choose one of (1) or (2)):

 

(1)               o     All. All Matching Contributions.

 

(2)               o     Designated. The following Matching Contributions in Election 24:                           .

 

(b)              o     No Match. Will not match any Catch-Up Deferrals.

 

[Note: Election 26 does not apply to a safe harbor 401(k) plan unless the Employer will apply the ACP test. See Elections 37(a)(2)b. and 37(a)(2)c.(ii). In this case, Election 26 applies only to Additional Matching, if any. A safe harbor 401(k) Plan will apply the Basic Match or Enhanced Match to Catch-Up Deferrals. If the Employer elects to apply the ACP test safe harbor under Election 37(a)(2)a. or 37(a)(2)c.(i), Election 26 does not apply and the Plan also will apply any Additional Match to Catch-Up Deferrals.]

 

27.     NONELECTIVE CONTRIBUTIONS (TYPE/AMOUNT) INCLUDING PREVAILING WAGE CONTRIBUTIONS  (3.04(A)). The Employer Nonelective Contributions under Election 6(d) are subject to the following additional elections as to type and amount (Choose one or more of (a) through (e) as applicable):

 

(a)               x     Discretionary. An amount the Employer in its sole discretion may determine.

 

(b)              o     Fixed.  (Choose one or more of (1), (2), and (3) as applicable):

 

(1)               o     Uniform %.            % of each Participant’s Compensation, per                          (e.g., Plan Year, month).

 

(2)               o     Fixed dollar amount. $           , per                          (e.g., Plan Year, month, HOS, per Participant per month).

 

(3)               o     Describe:                                                        (specify time period, e.g., per Plan Year quarter. If not specified, the time period is the Plan Year).

 

[Note: The Employer under Election 27(b)(3) may specify any Fixed Nonelective Contribution formula not described under Elections 27(b)(1) or (2) (e.g., For each Plan Year, 2% of net profits exceeding $50,000) and/or the Employer may describe different Fixed Nonelective Contributions as applicable to different Participant groups (e.g., A Fixed Nonelective Contribution equal to 5% of Plan Year

 

13

 

Compensation applies to Division A Participants and a Fixed Nonelective Contribution equal to $500 per Participant each Plan Year applies to Division B Participants).]

 

(c)               o     Prevailing Wage Contribution. The Prevailing Wage Contribution amount(s) specified for the Plan Year or other applicable period in the Employer’s Prevailing Wage Contract(s). The Employer will make a Prevailing Wage Contribution only to Participants covered by the Contract and only as to Compensation paid under the Contract. If the Participant accrues an allocation of Employer Contributions (including forfeitures) under the Plan or any other Employer plan in addition to the Prevailing Wage Contribution, the Plan Administrator will (Choose one of (1) or (2)):

 

(1)               o     No offset. Not reduce the Participant’s Employer Contribution allocation by the amount of the Prevailing Wage Contribution.

 

(2)               o     Offset. Reduce the Participant’s Employer Contribution allocation by the amount of the Prevailing Wage Contribution.

 

(d)              x     Related and Participating Employers. If any Related and Participating Employers contribute Nonelective Contributions to the Plan, the contribution formula(s) (Choose one of (1) or (2)):

 

(1)               x    All the same. Is (are) the same as for the Signatory Employer under this Election 27.

 

(2)               o     At least one different. Is (are) as follows:                                     .

 

[Note: The Employer should not elect 27(d) unless there are Related Employers which are also Participating Employers. See Section 1.23(D). The Employer electing 27(d) also must complete Election 28(g) as to the allocation methods which apply to the Participating Employers.]

 

(e)               o     Describe:

 

[Note: Under Election 27(e), the Employer may describe the amount and type of Nonelective Contributions from the elections available under Election 27 and/or a combination thereof as to a Participant group (e.g., A Discretionary Nonelective Contribution applies to Division A Employees. A Fixed Nonelective Contribution equal to 5% of Plan Year Compensation applies to Division B Employees).]

 

28.     NONELECTIVE CONTRIBUTION ALLOCATION  (3.04(B)). The Plan Administrator, subject to Section 3.06, will allocate to each Participant any Nonelective Contribution (excluding QNECs) under the following contribution allocation formula (Choose one or more of (a) through (h) as applicable):

 

(a)               x     Pro rata. As a uniform percentage of Participant Compensation.

 

(b)              o     Permitted disparity. In accordance with the permitted disparity allocation provisions of Section 3.04(B)(2), under which the following permitted disparity formula and definition of “Excess Compensation” apply (Complete (1) and (2)):

 

(1)               Formula  (Choose one of a. or b.):

 

a.                   o     Two-tiered.

 

b.                  o     Four-tiered.

 

(2)               Excess Compensation. For purposes of Section 3.04(B)(2), “Excess Compensation” means Compensation in excess of (Choose one of a. or b.):

 

a.                   o     Percentage amount.            % (not exceeding 100%) of the taxable wage base in effect on the first day of the Plan Year, rounded to the next highest $            (not exceeding the taxable wage base).

 

b.                  o     Dollar amount. The following amount: $            (not exceeding the taxable wage base in effect on the first day of the Plan Year).

 

(c)               o     Incorporation of contribution formula. The Plan Administrator will allocate any Fixed Nonelective Contribution under Elections 27(b), 27(d), or 27(e), or any Prevailing Wage Contribution under Election 27(c), in accordance with the contribution formula the Employer adopts under those Elections.

 

(d)              o     Classifications of Participants. In accordance with the classifications allocation provisions of Section 3.04(B)(3). The classifications are (Choose one of (1), (2), or (3)):

 

[Note:  Typically, the Employer would elect 28(d) where it intends to satisfy nondiscrimination requirements using “cross-testing” under Treas. Reg. §1.401(a)(4)-8. However, choosing this election does not necessarily require application of cross-testing and the Plan may be able to satisfy nondiscrimination as to its classification-based allocations by testing allocation rates.]

 

(1)               o     Each in own classification. Each Participant constitutes a separate classification.

 

(2)               o     NHCEs/HCEs. Nonhighly Compensated Employee/Participants and Highly Compensated Employee/Participants.

 

(3)               o     Describe the classifications:

 

14

 

[Note: Any classifications under Election 28(d) must result in a definitely determinable allocation under Treas. Reg. §1.401-1(b)(1)(ii) and must constitute a reasonable classification within the meaning of Treas. Reg. §1.410(b)-4(b). The number of allocation rates is subject to the limitations in Section 3.04(B)(3)(b). Standard interest and mortality assumptions under Treas. Reg. §1.401(a)(4)-12 apply. In the case of a self-employed Participant, the requirements of Treas. Reg. §1.401(k)-1(a)(6) apply and the allocation method should not result in a cash or deferred election for the self-employed Participant. The Employer by the due date of its tax return (including extensions) must advise the Plan Administrator or Trustee in writing as to the allocation rate applicable to each Participant under Election 28(d)(1) or applicable to each classification under Elections 28(d)(2) or (3) for the allocation Plan Year. Under Election 28(d)(1), the Employer may decide from year to year the classification (allocation rate) applicable to each Participant, without the need to amend the Plan to change the classification.]

 

(e)               o     Age-based. In accordance with the age-based allocation provisions of Section 3.04(B)(5). The Plan Administrator will use the Actuarial Factors based on the following assumptions (Complete both (1) and (2)):

 

(1)     Interest rate.  (Choose one of a., b., or c.):

 

a.      o     7.5%               b.      o     8.0%               c.       o     8.5%

 

(2)     Mortality table.  (Choose one of a. or b.):

 

a.                   o     UP-1984. See Appendix D.

 

b.                  o     Alternative:                                              (Specify 1983 GAM, 1983 IAM, 1971 GAM or 1971 IAM and attach applicable tables using such mortality table and the specified interest rate as replacement Appendix D.)

 

(f)                 o      Uniform points. In accordance with the uniform points allocation provisions of Section 3.04(B)(6). Under the uniform points allocation formula, a Participant receives (Choose one or both of (1) and (2). Choose (3) if applicable):

 

(1)     o     Years of Service.                          point(s) for each Year of Service. The maximum number of Years of Service counted for points is                         .

 

“Year of Service” under this Election 28(f) means (Choose one of a. or b.):

 

a.                   o     Eligibility. Years of Service for eligibility in Election 16.

 

b.                  o     Vesting. Years of Service for vesting in Elections 42 and 43.

 

[Note: A Year of Service must satisfy Treas. Reg. §1.401(a)(4)-11(d)(3) for the uniform points allocation to qualify as a safe harbor allocation under Treas. Reg. §1.401(a)(4)-2(b)(3).]

 

(2)               o     Age.                          point(s) for each year of age attained during the Plan Year.

 

(3)               o     Compensation.                          point(s) for each $             (not to exceed $200) increment of Plan Year Compensation.

 

(g)              x     Related and Participating Employers. If any Related and Participating Employers contribute Nonelective Contributions to the Plan, the Plan Administrator will allocate the Nonelective Contributions made by the Participating Employer(s) under Election 27(d) (Complete (1) and (2)):

 

(1)               Allocation Method.  (Choose one of a. or b.):

 

a.                   x     All the same. Using the same allocation method as applies to the Signatory Employer under this Election 28.

 

b.                  o     At least one different. Under the following allocation method(s):                             .

 

(2)               Allocation sharing. The Plan Administrator will allocate the Nonelective Contributions made by the Signatory Employer and by any Participating Employer (Choose one of a. or b.):

 

a.                   o     Employer by Employer. Only to the Participants directly employed by the contributing Employer.

 

b.                  x     Across Employer lines. To all Participants regardless of which Employer directly employs them and regardless of whether their direct Employer made Nonelective Contributions for the Plan Year.

 

[Note: The Employer should not elect 28(g) unless there are Related Employers which are also Participating Employers. See Section 1.23(D) and Election 27(d). If the Employer elects 28(g)(2)a., the Employer should also elect 11(b)(8)b., to disregard the Compensation paid by “Y” Participating Employer in determining the allocation of the “X” Participating Employer contribution to a Participant (and vice versa) who receives Compensation from both X and Y. If the Employer elects 28(g)(2)b., the Employer should not elect 11(b)(8)b. Election 28(g)(2)a. does not apply to Safe Harbor Nonelective Contributions.]

 

(h)              o     Describe:                                                
  (e.g., Pro rata as to Division A Participants and Permitted Disparity (two-tiered at 100% of the SSTWB) as to Division B Participants.)

 

15

 

	
29.
    	
QNEC (PLAN-DESIGNATED)  (3.04(C)(1)).   The following provisions apply regarding Plan-Designated QNECs (Choose one 
    
	
of (a) or (b)):
    
	
 
    	
 
    
	
[Note: Regardless of its elections under this Election 29, the   Employer under Section 3.04(C)(2) may elect for any Plan Year where   the Plan is using Current Year Testing to make Operational QNECs which the   Plan Administrator will allocate only to NHCEs for purposes of correction of   an ADP or ACP test failure.]
    
	
 
    
	
(a)
    	
x
    	
Not   applicable. There are no Plan-Designated QNECs.
    
	
 
    	
 
    	
 
    
	
(b)
    	
o
    	
Applies. There are   Plan-Designated QNECs to which the following provisions apply (Complete (1), (2), and (3)):
    
	
 
    	
 
    	
 
    
	
 
    	
(1)
    	
Nonelective   Contributions affected. The following Nonelective Contributions   (as allocated to the designated allocation group under Election 29(b)(2)) are   Plan-Designated QNECs (Choose one of a. or b.):
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
a.
    	
o
    	
All. All   Nonelective Contributions.
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
b.
    	
o
    	
Designated. Only the   following Nonelective Contributions under Election 27:                                   .
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
(2)
    	
Allocation   Group. Subject to Section 3.06, allocate the   Plan-Designated QNEC (Choose one of a. or b.):
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
a.
    	
o
    	
NHCEs   only. Only to NHCEs under the method elected in Election 29(b)(3).
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
b.
    	
o
    	
All   Participants. To all Participants under the method elected in   Election 29(b)(3).
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
(3)
    	
Allocation   Method. The Plan Administrator will allocate a   Plan-Designated QNEC using the following method (Choose   one of a., b., c., or d.):
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
a.
    	
o
    	
Pro   rata.
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
b.
    	
o
    	
Flat   dollar.
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
c.
    	
o
    	
Reverse. See   Section 3.04(C)(3).
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
d.
    	
o
    	
Describe:
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
[Note: Any allocation method the Employer elects under Election   29(b)(3)d. must be definitely determinable. See Section 4.10(D) as   to targeting limitations applicable to QNEC nondiscrimination testing.]
    
	
 
    
	
30.    SAFE HARBOR 401(k) PLAN (SAFE   HARBOR CONTRIBUTIONS/ADDITIONAL MATCHING CONTRIBUTIONS)  (3.05). The Employer under Election 6(e) will (or in   the case of the Safe Harbor Nonelective Contribution may) contribute the   following Safe Harbor Contributions described in   Section 3.05(E) and will or may contribute Additional Matching   Contributions described in Section 3.05(F) (Choose   one of (a), (b), (c), or (d) when and as applicable. Complete   (e) and (h). Choose (f), (g), and (i) as applicable):
    
	
 
    	
 
    
	
(a)
    	
x
    	
Safe   Harbor Nonelective Contribution. The Safe Harbor   Nonelective Contribution equals 3% of a Participant’s Compensation [Note: The amount in the blank must be at least 3%. The Safe Harbor Nonelective Contribution applies toward (offsets)   most other Employer Nonelective Contributions. See Section 3.05(E)(11).]
    
	
 
    	
 
    	
 
    
	
(b)
    	
o
    	
Safe   Harbor Nonelective Contribution/delayed year-by-year election (maybe and  supplemental notices). In connection with the Employer’s   provision of the maybe notice under Section 3.05(I)(1), the Employer   elects into safe harbor status by giving the supplemental notice and by   making this Election 30(b) to provide for a Safe Harbor Nonelective   Contribution equal to              % (specify amount at least equal to 3%) of a Participant’s Compensation.   This Election 30(b) and safe harbor status applies for the Plan Year   ending:                                                (specify Plan Year end), which is the   Plan Year to which the Employer’s maybe and supplemental notices apply.
    
	
 
    	
 
    	
 
    
	
[Note: If the Employer makes a delayed election into safe harbor   status under Section 3.05(I)(1), the Employer must amend the Plan to   provide for a Safe Harbor Nonelective Contribution equal to at least 3% of   each Participant’s Compensation. The Employer may make this amendment by   substitute Adoption Agreement page (electing Election 30(b)) or by   another form of amendment under Section 11.02(B). An Employer using the   maybe notice should not elect a Safe Harbor Nonelective Contribution under   Election 30(a) unless the Employer intends to continue safe harbor   status under this election in the subsequent Plan Year. By making its   amendment into safe harbor status under Election 30(b), the Employer avoids   the need to further amend the Plan if the Employer is not certain that it   will apply the safe harbor in the subsequent Plan Year. By contrast, an   Employer which gave the maybe notice and has decided to make the Safe Harbor   Nonelective Contribution for that year and for future years should use   Election 30(a). The Employer only elects 30(a) and should not elect   30(b) if prior to the Plan Year the Employer unequivocally decides to   elect safe harbor status for the Plan Year and provides a safe harbor notice   consistent with this election rather than giving the maybe notice. If the   Employer gives the maybe notice and the Employer will or may make Matching   Contributions, the Employer should elect Additional Matching under Election   30(h) (and should not elect Matching Contributions under Election 24) if   it wishes to avoid ACP testing.]
    

 

16

 

	
(c)
    	
o
    	
Basic   Matching Contribution. A Matching Contribution equal to 100% of   each Participant’s Elective Deferrals not exceeding 3% of the Participant’s   Compensation, plus 50% of each Participant’s Elective Deferrals in excess of   3% but not in excess of 5% of the Participant’s Compensation. See Sections   1.34(E) and 3.05(E)(4). (Complete (1)):
    
	
 
    	
 
    	
 
    
	
 
    	
(1)
    	
Time   period. For purposes of this Election 30(c),   “Compensation” and “Elective Deferrals” mean Compensation and Elective   Deferrals for:                                        .   [Note: The Employer must complete the blank line   with the applicable time period for computing the Basic Match, such as “each   payroll period,” “each calendar month,” “each Plan Year quarter” or “the Plan   Year.”]
    
	
 
    	
 
    	
 
    
	
(d)
    	
o
    	
Enhanced   Matching Contribution. See Sections 1.34(F) and 3.05(E)(5). (Choose one of (1) or (2) and complete (3) for any   election):
    
	
 
    	
 
    	
 
    
	
 
    	
(1)
    	
o
    	
Uniform   percentage. A Matching Contribution equal to           % of each Participant’s   Elective Deferrals but not as to Elective Deferrals exceeding          % of the Participant’s   Compensation.
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
(2)
    	
o
    	
Tiered   formula. A Matching Contribution equal to the specified   matching rate for the corresponding level of each Participant’s Elective   Deferral percentage. A Participant’s Elective Deferral percentage is equal to   the Participant’s Elective Deferrals divided by his/her Compensation.
    

 

	
Elective Deferral Percentage
    	
 
    	
Matching Rate
    	
 
    
	
 
    	
%
    	
 
    	
%
    
	
 
    	
%
    	
 
    	
%
    
	
 
    	
%
    	
 
    	
%
    

 

	
 
    	
(3)
    	
Time   period. For purposes of this Election 30(d),   “Compensation” and “Elective Deferrals” mean Compensation and Elective   Deferrals for:                          .   [Note: The Employer must complete the blank line   with the applicable time period for computing the Enhanced Match, such as   “each payroll period,” “each calendar month,” “each Plan Year quarter” or   “the Plan Year.”]
    
	
 
    	
 
    	
 
    
	
[Note: The matching rate may not increase as the Elective Deferral   percentage increases and the Enhanced Matching formula otherwise must satisfy   the requirements of Code §§401(k)(12)(B)(ii) and (iii). If the Employer   elects to satisfy the ACP safe harbor under Election 37(a)(2)a., the Employer   also must limit Elective Deferrals taken into account for the Enhanced   Matching Contribution to a maximum of 6% of Plan Year Compensation.]
    
	
 
    
	
(e)
    	
Participants   who will receive Safe Harbor Contributions. The allocation of Safe   Harbor Contributions (Choose one of (1), (2),   or (3)):
    
	
 
    	
 
    
	
 
    	
(1)
    	
x
    	
Applies   to all Participants. Applies to all Participants except as may   be limited under Election 30(f).
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
(2)
    	
o
    	
NHCEs   only. Is limited to NHCE Participants only and may be limited further   under Election 30(f). No HCE will receive a Safe Harbor Contribution   allocation.
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
(3)
    	
o
    	
NHCEs   and designated HCEs. Is limited to NHCE Participants and to the   following HCE Participants and may be limited further under Election 30(f):                                                                             .
    
	
 
    	
 
    	
 
    	
 
    
	
[Note: Any HCE allocation group the Employer describes under Election   30(e)(3) must be definitely determinable.  (e.g., Division “A” HCEs OR HCEs who own more than 5% of the Employer   without regard to attribution rules).]
    

 

	
(f)
    	
o
    	
Early   Elective Deferrals/delay of Safe Harbor Contribution. The Employer   may elect this Election 30(f) only if the Employer in Election 14 elects   eligibility requirements for Elective Deferrals of less than age 21 and one   Year of Service but elects age 21 and one Year of Service for Safe Harbor   Matching or for Safe Harbor Nonelective Contributions. The Employer under   this Election 30(f) limits the allocation of any Safe Harbor   Contribution under Election 30 for a Plan Year to those Participants:   (i) who have attained age 21; (ii) who have completed one Year of   Service; and (iii) who the Plan Administrator in applying the OEE   rule described in Section 4.06(C), treats as benefiting in the   disaggregated plan covering the Includible Employees. Those Participants in   the Plan Year whom the Plan Administrator treats as Otherwise Excludable Employees   will not receive any Safe Harbor Contribution allocation and the Plan   Administrator will apply the ADP (and, as applicable the ACP) test(s) to   the disaggregated plan benefiting the Otherwise Excludable Employees. If the   Employer in Election 10(a)(2) has elected “Participating Compensation”   for allocating Elective Deferrals, Nonelective Contributions or Matching   Contributions (as relevant to the allocation under this Election 30 based on   the Contribution Type), the Plan Administrator, in allocating the Safe Harbor   Contribution for the Plan Year in which the Participant crosses over to the   Includible Employees group, will count Compensation and Elective Deferrals   only on and following the Cross-Over Date. See Section 3.05(D).
    
	
 
    	
 
    	
 
    
	
(g)
    	
o
    	
Another   plan. The Employer will make the Safe Harbor Contribution to the following   plan:                                            .
    

 

17

 

	
(h)
    	
Additional   Matching Contributions. See Sections 1.34(G) and 3.05(F). (Choose one of (1) or (2)):
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
(1)
    	
x
    	
No   Additional Matching Contributions. The Employer will not   make any Additional Matching Contributions to its safe harbor Plan.
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
(2)
    	
o
    	
Additional   Matching Contributions. The Employer will or may make the   following Additional Matching Contributions to its safe harbor Plan. (Choose a. and b. as applicable):
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
a.
    	
o
    	
Fixed Additional Matching Contribution. The   following Fixed Additional Matching Contribution (Choose   (i) and (ii) as applicable and complete (iii) for any   election):
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
(i)
    	
o
    	
Uniform   percentage. A Matching Contribution equal to             % of each   Participant’s Elective Deferrals but not as to Elective Deferrals exceeding               % of   the Participant’s Compensation.
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
(ii)
    	
o
    	
Tiered   formula. A Matching Contribution equal to the specified   matching rate for the corresponding level of each Participant’s Elective   Deferral percentage. A Participant’s Elective Deferral percentage is equal to   the Participant’s Elective Deferrals divided by his/her Compensation.
    

 

	
Elective Deferral Percentage
    	
 
    	
Matching Rate
    	
 
    
	
 
    	
%
    	
 
    	
%
    
	
 
    	
%
    	
 
    	
%
    
	
 
    	
%
    	
 
    	
%
    

 

	
 
    	
 
    	
 
    	
(iii)
    	
Time   period. For purposes of this Election 30(h)(2)a.,   “Compensation” and “Elective Deferrals” mean Compensation and Elective   Deferrals   for:                                      .   [Note: The Employer must complete the blank line   with the applicable time period for computing the Additional Match, e.g.,   “each payroll period,” “each calendar month,” “each Plan Year quarter” OR   “the Plan Year.” If the Employer elects a match under both (i) and   (ii) and will apply a different time period to each match, the Employer   may indicate as such in the blank line.]
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
b.
    	
o
    	
Discretionary   Additional Matching Contribution. The Employer may make a   Discretionary Additional Matching Contribution. If the Employer makes a   Discretionary Matching Contribution, the Discretionary Matching Contribution   will not apply as to Elective Deferrals exceeding               % of   the Participant’s Compensation (complete the blank if   applicable or leave blank).
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
[Note: If the Employer elects to satisfy the ACP safe harbor under   Election 37(a)(2)a. or 37(a)(2)c.(i), then as to any and all Matching   Contributions, including Fixed Additional Matching Contributions and   Discretionary Additional Matching Contributions: (i) the matching rate   may not increase as the Elective Deferral percentage increases; (ii) no   HCE may be entitled to a greater rate of match than any NHCE; (iii) the   Employer must limit Elective Deferrals taken into account for the Additional   Matching Contributions to a maximum of 6% of Plan Year Compensation; (iv) the   Plan must apply all Matching Contributions to Catch-Up Deferrals; and (v) in   the case of a Discretionary Additional Matching Contribution, the   contribution amount may not exceed 4% of the Participant’s Plan Year   Compensation.]
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
(i)
    	
o
    	
Multiple   Safe Harbor Contributions in disaggregated Plan. The Employer   elects to make different Safe Harbor Contributions and/or Additional Matching   Contributions to disaggregated parts of its Plan under Treas. Reg.   §1.401(k)-1(b)(4) as follows:                                                                                                                                          (Specify contributions for disaggregated plans,   e.g., as to Collectively Bargained Employees a 3% Nonelective Safe Harbor   Contribution applies and as to non-Collectively Bargained Employees, the   Basic Matching Contribution applies).
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
31.    ALLOCATION   CONDITIONS  (3.06(B)/(C)). The Plan does not   apply any allocation conditions to: (i) Elective Deferrals;   (ii) Safe Harbor Contributions; (iii) commencing as of the Final   401(k) Regulations Effective Date, Additional Matching Contributions   which will satisfy the ACP test safe harbor; (iv) Employee Contributions;   (v) Rollover Contributions; (vi) Designated IRA Contributions;   (vii) SIMPLE Contributions; or (viii) Prevailing Wage   Contributions, except as may be required by the Prevailing Wage Contract. To   receive an allocation of Matching Contributions, Nonelective Contributions or   Participant forfeitures, a Participant must satisfy the following allocation   condition(s) (Choose one of   (a) or (b). Choose (c) if applicable):
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
(a)
    	
o
    	
No   conditions. No allocation conditions apply to Matching   Contributions, to Nonelective Contributions or to forfeitures.
    
	
 
    	
 
    	
 
    
	
(b)
    	
x
    	
Conditions. The   following allocation conditions apply to the designated Contribution Type   and/or forfeitures (Choose one or more of   (1) through (7) as applicable):
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
[Note: For this Election 31, except as the Employer describes   otherwise in Election 31(b)(7) or as provided in Sections   3.03(C)(2) and 3.04(C)(2) regarding Operational QMACs and   Operational QNECs, Matching includes all Matching Contributions and   Nonelective includes all Nonelective Contributions to which allocation   conditions may apply. The Employer under Election 31(b)(7) may not   impose an Hour of Service condition exceeding 1,000 Hours of Service in a   Plan Year.]
    
										

 

18

 

	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
(1)
   Matching,
   Nonelective
   and Forfeitures
    	
 
    	
 
    	
 
    	
(2)
  Matching
    	
 
    	
(3)
   Nonelective
    	
 
    	
(4)
   Forfeitures
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
(1)
    	
 
    	
o
    	
 
    	
None.
    	
 
    	
N/A
    	
 
    	
 
    	
 
    	
o
    	
 
    	
o
    	
 
    	
o
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
(See Election
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
31(a))
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
(2)
    	
 
    	
o
    	
 
    	
501   HOS/terminees (91 consecutive days if
    	
 
    	
o
    	
 
    	
OR
    	
 
    	
o
    	
 
    	
o
    	
 
    	
o
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
Elapsed   Time). See Section 3.06(B)(1)(b).
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
(3)
    	
 
    	
o
    	
 
    	
Last   day of the Plan Year.
    	
 
    	
o
    	
 
    	
OR
    	
 
    	
o
    	
 
    	
o
    	
 
    	
o
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
(4)
    	
 
    	
x
    	
 
    	
Last   day of the Election 31(c) time period.
    	
 
    	
o
    	
 
    	
OR
    	
 
    	
o
    	
 
    	
x
    	
 
    	
x
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
(5)
    	
 
    	
o
    	
 
    	
1,000   HOS  in the Plan Year (182   consecutive
    	
 
    	
o
    	
 
    	
OR
    	
 
    	
o
    	
 
    	
o
    	
 
    	
o
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
days   in Plan Year if Elapsed Time).
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
(6)
    	
 
    	
x
    	
 
    	
750   (specify) HOS within the Election
    	
 
    	
o
    	
 
    	
OR
    	
 
    	
o
    	
 
    	
x
    	
 
    	
x
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
31(c) time   period, (but not exceeding 1,000 HOS
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
in   a Plan Year).
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
(7)
    	
 
    	
o
    	
 
    	
Describe   conditions:                                                                                                                                              
    
	
 
    	
 
    	
 
    	
 
    	
(e.g.,   Last day of the Plan Year as to Nonelective Contributions for Participating   Employer “A” Participants. No allocation conditions for Participating   Employer “B” Participants).
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
(c)   x
    	
 
    	
Time period. Under   Section 3.06(C), apply Elections 31(b)(4), (b)(6) or (b)(7) to   the specified contributions/forfeitures based on each (Choose   one of (1) through (5)):
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
(1)
    	
 
    	
x
    	
 
    	
Plan   Year
    	
 
    	
o
    	
 
    	
OR
    	
 
    	
o
    	
 
    	
x
    	
 
    	
x
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
(2)
    	
 
    	
o
    	
 
    	
Plan   Year quarter
    	
 
    	
o
    	
 
    	
OR
    	
 
    	
o
    	
 
    	
o
    	
 
    	
o
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
(3)
    	
 
    	
o
    	
 
    	
Calendar   month
    	
 
    	
o
    	
 
    	
OR
    	
 
    	
o
    	
 
    	
o
    	
 
    	
o
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
(4)
    	
 
    	
o
    	
 
    	
Payroll   period
    	
 
    	
o
    	
 
    	
OR
    	
 
    	
o
    	
 
    	
o
    	
 
    	
o
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
(5)
    	
 
    	
o
    	
 
    	
Describe   time period:
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
[Note: If the Employer elects 31(b)(4) or (b)(6), the Employer   must choose (c). If the Employer elects 31(b)(7), choose (c) if applicable.]
    

 

	
32.    ALLOCATION   CONDITIONS — APPLICATION/WAIVER/SUSPENSION   (3.06(D)/(F)). Under Section 3.06(D), in the event of   Severance from Employment as described below, apply or do not apply Election   31(b) allocation conditions to the specified contributions/forfeitures   as follows (If the Employer elects 31(b), the Employer must   complete Election 32. Choose one of (a) or (b). Complete (c)):
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
[Note: For this Election 32, except as the Employer describes   otherwise in Election 31(b)(7) or as provided in Sections   3.03(C)(2) and 3.04(C)(2) regarding Operational QMACs and   Operational QNECs, Matching includes all Matching Contributions and   Nonelective includes all Nonelective Contributions to which allocation   conditions may apply.]
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
(a)
    	
x
    	
Total   waiver or application. If a Participant incurs a Severance from   Employment on account of or following death, Disability or attainment of   Normal Retirement Age (Choose one of   (1) or (2)):
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
(1)
    	
x
    	
Do   not apply. Do not apply elected allocation conditions to   Matching Contributions, to Nonelective Contributions or to forfeitures.
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
(2)
    	
o
    	
Apply. Apply   elected allocation conditions to Matching Contributions, to Nonelective   Contributions and to forfeitures.
    

 

19

 

	
 
    	
 
    	
 
    	
 
    	
(1)
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
Matching,
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
Nonelective
    	
 
    	
 
    	
 
    	
(2)
    	
 
    	
(3)
    	
 
    	
(4)
    
	
 
    	
 
    	
 
    	
 
    	
and   Forfeitures
    	
 
    	
 
    	
 
    	
Matching
    	
 
    	
Nonelective
    	
 
    	
Forfeitures
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
(b)
    	
o
    	
Application/waiver   as to Contribution Types events. If a Participant incurs a   Severance from Employment, apply allocation conditions except such   conditions are waived if Severance is on account of or following death, Disability   or attainment of Normal Retirement Age as specified, and as applied to the   specified Contribution Types/forfeitures (Choose (1), (2), and   (3) as applicable):
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
(1)
    	
o
    	
Death
    	
 
    	
o
    	
 
    	
OR
    	
 
    	
o
    	
 
    	
o
    	
 
    	
o
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
(2)
    	
o
    	
Disability
    	
 
    	
o
    	
 
    	
OR
    	
 
    	
o
    	
 
    	
o
    	
 
    	
o
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
(3)
    	
o
    	
Normal   Retirement Age
    	
 
    	
o
    	
 
    	
OR
    	
 
    	
o
    	
 
    	
o
    	
 
    	
o
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
(c)
    	
Suspension. The   suspension of allocation conditions of Section 3.06(F) (Choose one of (1) or (2)):
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
(1)
    	
o
    	
Applies.   Applies as follows  (Choose one of a., b., or c.):
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
a.
    	
o
    	
Both. Applies both   to Nonelective Contributions and to Matching Contributions.
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
b.
    	
o
    	
Nonelective. Applies only   to Nonelective Contributions.
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
c.
    	
o
    	
Match. Applies only   to Matching Contributions.
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
(2)
    	
x
    	
Does   not apply.
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
33.    FORFEITURE   ALLOCATION METHOD  (3.07). The   Plan Administrator will allocate a Participant forfeiture attributable to all   Contribution Types or attributable to all Nonelective Contributions or to all   Matching Contributions as follows (Choose one or more of   (a) through (g) as applicable. Choose (e) only in conjunction   with at least one other election):
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
[Note: Even if the Employer elects immediate vesting, the Employer   should complete Election 33. See Section 7.07.]
    	
 
    	
(1)
    	
 
    	
 
    	
 
    	
(2)
    	
 
    	
(3)
    
	
 
    	
All
    	
 
    	
 
    	
 
    	
Nonelective
    	
 
    	
Matching
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
Forfeitures
    	
 
    	
 
    	
 
    	
Forfeitures
    	
 
    	
Forfeitures
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
(a)
    	
x
    	
Additional Nonelective. Allocate as   additional Discretionary Nonelective Contribution.
    	
 
    	
x
    	
 
    	
OR
    	
 
    	
o
    	
 
    	
o
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
(b)
    	
o
    	
Additional Match. Allocate as   additional Discretionary Matching Contribution.
    	
 
    	
o
    	
 
    	
OR
    	
 
    	
o
    	
 
    	
o
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
(c)
    	
o
    	
Reduce Nonelective. Apply to   Nonelective Contribution.
    	
 
    	
o
    	
 
    	
OR
    	
 
    	
o
    	
 
    	
o
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
(d)
    	
o
    	
Reduce   Match. Apply to Matching Contribution.
    	
 
    	
o
    	
 
    	
OR
    	
 
    	
o
    	
 
    	
o
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
(e)
    	
o
    	
Plan   expenses. Pay reasonable Plan expenses first (See Section 7.04(C)),   then allocate in the manner described above.
    	
 
    	
o
    	
 
    	
OR
    	
 
    	
o
    	
 
    	
o
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
(f)
    	
o
    	
Safe harbor/top-heavy exempt. Apply all   forfeitures to Safe Harbor Contributions and Plan expenses in accordance with   Section 3.07(A)(4).
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
(g)
    	
o
    	
Describe:
    
	
 
    	
 
    	
(e.g., Forfeitures attributable   to transferred balances from Plan X are allocated only to former Plan X   participants.)
    
	
 
    	
 
    	
 
    
	
34.    FORFEITURE   ALLOCATION TIMING  (3.07(B)).   See Sections 3.07, 5.07 and 7.07 as to when a forfeiture occurs. Once a   forfeiture occurs, this Election 34 determines the timing of the forfeiture   allocation. The Plan Administrator will allocate a Participant’s forfeiture (Choose one or both of (a) and (b) as applicable):
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
(1)
    	
 
    	
 
    	
 
    	
(2)
    	
 
    	
(3)
    
	
 
    	
 
    	
 
    	
 
    	
All
    	
 
    	
 
    	
 
    	
Nonelective
    	
 
    	
Matching
    
	
 
    	
 
    	
 
    	
 
    	
Forfeitures
    	
 
    	
 
    	
 
    	
Forfeitures
    	
 
    	
Forfeitures
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
(a)
    	
x
    	
Same Plan Year. In the same   Plan Year in which the designated forfeiture occurs.
    	
 
    	
x
    	
 
    	
OR
    	
 
    	
o
    	
 
    	
o
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
(b)
    	
o
    	
Next Plan Year. In the Plan   Year following the Plan Year in which the designated forfeiture occurs.
    	
 
    	
o
    	
 
    	
OR
    	
 
    	
o
    	
 
    	
o
    

 

20

 

	
[Note: The elected forfeiture allocation timing applies irrespective   of when the Employer makes its contribution(s), if any, for a Plan Year. Even   if the Employer elects immediate vesting, the Employer should complete   Election 34. See Sections 3.07 and 7.07.]
    
	
 
    
	
35.    EMPLOYEE   (AFTER-TAX) CONTRIBUTIONS  (3.09). The   following additional elections apply to Employee Contributions under Election   6(f). (Complete (a) and (b)):
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
(a)
    	
Limitations.   The Plan permits Employee Contributions subject to the following   limitations, if any, in addition to those already imposed under the Plan (Choose one of (1) or (2)):
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
(1)
    	
o
    	
None. No   additional limitations.
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
(2)
    	
o
    	
Additional   limitations. The following additional limitations:                                                                                  .
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
[Note: Any designated limitation(s) must be the same for all   Participants and must be definitely determinable.]
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
(b)
    	
Matching   Contributions.  (Choose one of   (1) or (2)):
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
(1)
    	
o
    	
None.   The Employer will not make any Matching Contributions based on   Employee Contributions.
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
(2)
    	
o
    	
Applies.   For each Plan Year, the Employer’s Matching Contribution made as to   Employee Contributions is:                                                                                           .
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
36.    DESIGNATED   IRA CONTRIBUTIONS  (3.12). Under   Election 6(h), a Participant may make Designated IRA Contributions effective   for Plan Years beginning after                         (date specified must be no earlier than December 31,   2002). (Complete (a) and   (b)):
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
(a)
    	
Type   of IRA contribution. A Participant’s Designated IRA   Contributions will be (Choose one of (1), (2),   or (3)):
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
(1)
    	
o
    	
Traditional.
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
(2)
    	
o
    	
Roth.
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
(3)
    	
o
    	
Traditional/Roth. As the   Participant elects at the time of contribution.
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
(b)
    	
Type   of Account. A Participant’s Designated IRA Contributions will   be held in the following form of Account(s) (Choose   one of (1), (2), or (3)):
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
(1)
    	
o
    	
IRA.
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
(2)
    	
o
    	
Individual   Retirement Annuity.
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
(3)
    	
o
    	
IRA/Individual   Retirement Annuity. As the Participant elects at the time of   contribution.
    

 

ARTICLE IV

LIMITATIONS AND TESTING

 

[Note: The Employer, in the “Effective as of execution” column under Election 37, must elect those testing elections which are: (i) in effect as of date of the Employer’s execution of this Adoption Agreement; and (ii) if the Adoption Agreement restates the Plan, also are  retroactive to the later of the Plan’s original Effective Date or EGTRRA restated Effective Date, except as indicated in Appendix A. If the Employer wishes to change any testing election after it executes this Adoption Agreement, the Employer must elect the changes in the “Changes post-execution” column under Election 37, and the Employer must specify the Plan Year Effective Date(s) of any changed election. The Employer may complete the Effective Date blanks specifying the changed election applies to a single Plan Year (e.g., “2011 only”), or a range of Plan Years (e.g., “2011-2015”) or may specify the change as becoming effective in a specified Plan Year (e.g., “commencing 2010”). If the Employer specifies a single Plan Year only or specifies a range of Plan Years, the Plan becomes subject to the election in the “Effective as of execution” column in the Plan Years commencing after the specified Year(s), unless the Employer subsequently changes the election. If the Employer specifies the change as commencing in a Plan Year, the election applies in the specified Plan Year and in all following Plan Years unless the Employer subsequently changes the election.]

 

	
37.    ANNUAL   TESTING ELECTIONS  (4.06(B)).   The Employer makes the following Plan specific annual testing elections under   Section 4.06(B). (Complete (a) and   (b)):
    
	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
(1)
    	
 
    	
(2)
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
Effective   as of execution
    	
 
    	
Changes   post-execution
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
(and   retroactively
    	
 
    	
(specify   Plan Year
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
if   restatement)
    	
 
    	
Effective   Date(s))
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
(a)
    	
Nondiscrimination testing.  (Choose one or more of (1), (2), or (3)):
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
(1)
    	
o
    	
Traditional 401(k) Plan/ADP/ACP   test. The following testing method(s) apply (Choose a.   and b. as applicable):
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
[Note: The Plan may “split test” for Plan Years   commencing in 2005.]
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    

 

21

 

	
 
    	
 
    	
a.
    	
o
    	
Current Year Testing. See   Section 4.11(E). Current Year Testing applies to the ADP/ACP tests as   elected below (Choose one or both of (i) and (ii)):
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
(i)
    	
o
    	
ADP   test.
    	
 
    	
o
    	
 
    	
o  Effective   Date(s):
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
(ii)
    	
o
    	
ACP   test.
    	
 
    	
o
    	
 
    	
o  Effective   Date(s):
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
[Note: The   Employer may leave (ii) blank if the Plan does not permit Matching   Contributions or Employee Contributions and the Plan Administrator will not   recharacterize Elective Deferrals as Employee Contributions for testing.]
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
b.
    	
o
    	
Prior Year Testing. See   Section 4.11(I). Prior Year Testing applies to the ADP/ACP tests as elected   below. See Sections 4.10(B)(4)(f)(iv) and 4.10(C)(5)(e)(iv) as to   the first Plan Year. (Choose one or both of   (i) and (ii)):
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
(i)
    	
o
    	
ADP   test.
    	
 
    	
o
    	
 
    	
o  Effective   Date(s):
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
(ii)
    	
o
    	
ACP   test.
    	
 
    	
o
    	
 
    	
o  Effective   Date(s):
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
[Note: The   Employer may leave (ii) blank if the Plan does not permit Matching   Contributions or Employee Contributions and the Plan Administrator will not   recharacterize Elective Deferrals as Employee Contributions for testing.]
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
(2)
    	
x
    	
Safe Harbor Plan/No testing or ACP test only.
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
(Choose one of a., b., or c.):
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
a.
    	
x
    	
No   testing.
    	
 
    	
x
    	
 
    	
o  Effective   Date(s):
    
	
 
    	
 
    	
 
    	
 
    	
ADP   test safe harbor applies and if applicable,
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
ACP   test safe harbor applies.
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
b.
    	
o
    	
ACP   test only.
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
ADP   test safe harbor applies, but Plan will perform
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
ACP   test as follows (Choose one of (i) or (ii)):
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
(i)
    	
o
    	
Current   Year Testing.
    	
 
    	
o
    	
 
    	
o  Effective   Date(s):
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
(ii)
    	
o
    	
Prior   Year Testing.
    	
 
    	
o
    	
 
    	
o  Effective   Date(s):
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
[Note: The   Employer may elect Prior Year Testing under Election 37(a)(2)b.(ii) only   for Plan Years after the Final 401(k) Regulations Effective Date.]
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
c.
    	
o
    	
Possible   delayed election.
    	
 
    	
o
    	
 
    	
o  Effective   Date(s):
    
	
 
    	
 
    	
 
    	
 
    	
(maybe   notice/supplemental notice)
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
The Employer under Section 3.05(I)(1) may   treat the Plan as a Traditional 401(k) Plan or may make a delayed   election to treat the Plan as a Safe Harbor 401(k) Plan. If the Employer   gives the maybe and supplemental notices and amends the Plan to provide for   the Safe Harbor Nonelective Contribution, the Plan is an ADP test safe harbor   plan for the Plan Year to which the maybe and supplemental notices and the   amendment apply. If the Employer does not give the supplemental notice, the   Plan is a Traditional 401(k) Plan, subject to ADP Current Year Testing   and, if applicable, to ACP Current Year Testing. If the Employer gives the   supplemental notice and amends the Plan to provide for the Safe Harbor   Nonelective Contribution, and the Employer has elected Additional Matching   Contributions under Election 30(h) (Choose one of (i) or   (ii)):
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
(i)
    	
o
    	
No testing. ADP and ACP   test safe harbors apply. The Employer’s elections under 30(h) as to   Additional Matching Contributions satisfy the ACP safe harbor requirements   and the Employer elects to apply the Election 30(h) stated ACP test safe   harbor conditions (see the Note following Election 30(h)) as to all   Additional Matching Contributions.
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
(ii)
    	
o
    	
ACP test only. ADP safe   harbor applies, but the Plan will perform the ACP test as to all Additional   Matching Contributions using Current Year Testing.
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
[Note: Even   if the Employer does not elect 37(a)(2)c., the Employer still may make a   delayed election into safe harbor status under Section 3.05(I)(1) using   the maybe and supplemental notices and by amending the plan to provide for   the Safe Harbor Nonelective Contribution. However, in this case, the Employer   also must amend the Plan to make its testing elections under this Election 37   consistent with its delayed election into safe harbor status. The Employer   then may elect any election under 37(a)(2), including 37(a)(2)c. An   Employer’s election of 37(a)(2)c. permits the Plan to remain in perpetual   possible delayed safe harbor election status, while minimizing the number of   Plan amendments required to do so.]
    

 

22

 

	
 
    	
(3)
    	
o
    	
SIMPLE 401(k) Plan/No   testing.
    	
 
    	
o
    	
 
    	
o Effective Date(s):
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
(b)
    	
HCE determination.  (Complete both (1) and (2)):
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
(1)
    	
Top-paid group election.  (Choose one of a. or b.):
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
a.
    	
x
    	
Does not apply.
    	
 
    	
x
    	
 
    	
o Effective Date(s):
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
b.
    	
o
    	
Applies.
    	
 
    	
o
    	
 
    	
o Effective Date(s):
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
(2)
    	
Calendar year data election   (fiscal year Plan only).
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
(Choose one of a. or b.):
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
a.
    	
x
    	
Does not apply.
    	
 
    	
x
    	
 
    	
o Effective Date(s):
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
b.
    	
o
    	
Applies.
    	
 
    	
o
    	
 
    	
o Effective Date(s):
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    

 

ARTICLE V

VESTING REQUIREMENTS

 

	
38.    NORMAL   RETIREMENT AGE  (5.01). A   Participant attains Normal Retirement Age under the Plan on the following   date (Choose one of (a) or (b)):
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
(a)
    	
x
    	
Specific age. The date the   Participant attains age 65. [Note: The age may not   exceed age 65.]
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
(b)
    	
o
    	
Age/participation. The later of   the date the Participant attains age           or the         anniversary of the first   day of the Plan Year in which the Participant commenced participation in the   Plan. [Note: The age may not exceed age 65 and the   anniversary may not exceed the 5th.]
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
39.
    	
EARLY RETIREMENT AGE  (5.01). (Choose one of   (a) or (b)):
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
(a)
    	
x
    	
Not applicable. The Plan does   not provide for an Early Retirement Age.
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
(b)
    	
o
    	
Early Retirement Age. Early   Retirement Age is the later of: (i) the date a Participant attains age         ;   (ii) the date a Participant reaches his/her              anniversary of the first day of the Plan Year in which the Participant   commenced participation in the Plan; or (iii) the date a Participant   completes         Years of Service.
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
[Note: The Employer should leave blank any of   clauses (i), (ii), and (iii) which are not applicable.]
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
“Years of Service” under this Election 39 means (Choose   one of (1) or (2) as applicable):
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
(1)
    	
o
    	
Eligibility. Years of   Service for eligibility in Election 16.
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
(2)
    	
o
    	
Vesting. Years of   Service for vesting in Elections 42 and 43.
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
[Note:   Election of an Early Retirement Age does not affect the time at which a   Participant may receive a Plan distribution. However, a Participant becomes   100% vested at Early Retirement Age.]
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
40.    ACCELERATION   ON DEATH OR DISABILITY  (5.02). Under   Section 5.02, if a Participant incurs a Severance from Employment as a   result of death or Disability (Choose one of (a), (b),   or (c)):
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
(a)
    	
x
    	
Applies. Apply 100%   vesting.
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
(b)
    	
o
    	
Not applicable. Do not apply   100% vesting. The Participant’s vesting is in accordance with the applicable   Plan vesting 
    
	
 
    	
 
    	
schedule.
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
(c)
    	
o
    	
Limited application. Apply 100%   vesting, but only if a Participant incurs a Severance from Employment as a   result of 
    
	
 
    	
 
    	
(Choose one of (1) or (2)):
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
(1)
    	
o
    	
Death.
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
(2)
    	
o
    	
Disability.
    	
 
    	
 
    	
 
    	
 
    

 

23

 

	
41.    VESTING   SCHEDULE  (5.03). A Participant has a 100%   Vested interest at all times in his/her Accounts attributable to: (i) Elective   Deferrals; (ii) Employee Contributions; (iii) QNECs; (iv) QMACs;   (v) Safe Harbor Contributions; (vi) SIMPLE Contributions; (vii) Rollover   Contributions; (viii) Prevailing Wage Contributions unless the   Prevailing Wage Contract provides otherwise; (ix) DECs; and (x) Designated   IRA Contributions. The following vesting schedule applies to Regular Matching   Contributions, to Additional Matching Contributions (irrespective of ACP   testing status) and to Nonelective Contributions (other than Prevailing Wage   Contributions) (Choose (a) or choose one or both of   (b) and (d) as applicable. Choose (c) if elect a non-top-heavy   schedule under (b) or (d)):
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
(a)
    	
o
    	
Immediate vesting. 100% Vested   at all times in all Accounts.
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
[Note:   Unless all Contribution Types are 100% Vested, the Employer should not   elect 41(a). If the Employer elects immediate vesting under 41(a), the   Employer should not complete the balance of Election 41 or Elections 42 and   43 (except as noted therein). The Employer must elect 41(a) if the   eligibility Service condition under Election 14 as to all Contribution   Types (except Elective Deferrals and Safe Harbor Contributions) exceeds one   Year of Service or more than 12 months. The Employer must elect 41(b)(1) as   to any Contribution Type where the eligibility service condition exceeds one   Year of Service or more than 12 months. The Employer should elect 41(b) if   any Contribution Type is subject to a vesting schedule.]
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
(b)
    	
x
    	
Vesting schedules: Apply the   following vesting schedules (Choose one or more of   (1) through (7) as applicable):
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
(4)
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
(1)
    	
 
    	
 
    	
 
    	
 
    	
 
    	
(3)
    	
 
    	
Additional
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
All
    	
 
    	
 
    	
 
    	
(2)
    	
 
    	
Regular
    	
 
    	
Matching   (See
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
Contributions
    	
 
    	
 
    	
 
    	
Nonelective
    	
 
    	
Matching
    	
 
    	
Section 3.05(F))
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
(1)
    	
o
    	
Immediate vesting
    	
 
    	
N/A
    	
 
    	
 
    	
 
    	
o
    	
 
    	
o
    	
 
    	
o
    
	
 
    	
 
    	
 
    	
 
    	
(See   Election 41(a))
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
(2)
    	
o
    	
Top-heavy: 6-year graded
    	
 
    	
o
    	
 
    	
OR
    	
 
    	
o
    	
 
    	
o
    	
 
    	
o
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
(3)
    	
o
    	
Top-heavy: 3-year cliff
    	
 
    	
o
    	
 
    	
OR
    	
 
    	
o
    	
 
    	
o
    	
 
    	
o
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
(4)
    	
x
    	
Modified top-heavy:
    	
 
    	
o
    	
 
    	
OR
    	
 
    	
x
    	
 
    	
o
    	
 
    	
o
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
Years of Service
    	
 
    	
Vested %
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
Less   than 1
    	
 
    	
a.
    	
0%
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
1
    	
 
    	
b.
    	
15%
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
2
    	
 
    	
c.
    	
30%
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
3
    	
 
    	
d.
    	
45%
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
4
    	
 
    	
e.
    	
60%
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
5
    	
 
    	
f.
    	
80%
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
6   or more
    	
 
    	
 
    	
100%
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
(5)
    	
o
    	
Non-top-heavy: 7-year graded
    	
 
    	
N/A
    	
 
    	
 
    	
 
    	
o
    	
 
    	
N/A
    	
 
    	
N/A
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
(6)
    	
o
    	
Non-top-heavy: 5-year cliff
    	
 
    	
N/A
    	
 
    	
 
    	
 
    	
o
    	
 
    	
N/A
    	
 
    	
N/A
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
(7)
    	
o
    	
Modified non-top-heavy:
    	
 
    	
N/A
    	
 
    	
 
    	
 
    	
o
    	
 
    	
N/A
    	
 
    	
N/A
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
Years of Service
    	
 
    	
Vested %
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
Less   than 1
    	
 
    	
a.
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
1
    	
 
    	
b.
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
2
    	
 
    	
c.
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
3
    	
 
    	
d.
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
4
    	
 
    	
e.
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
5
    	
 
    	
f.
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
6
    	
 
    	
g.
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
7   or more
    	
 
    	
 
    	
100%
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
[Note: If   the Employer does not elect 41(a), the Employer under 41(b) must elect   immediate vesting or must elect a top-heavy or modified top-heavy vesting   schedule. The modified top-heavy schedule of Election 41(b)(4) must   satisfy Code §416. A top-heavy schedule must apply to Regular Matching   Contributions and to Additional Matching Contributions. See Section 5.03(A)(1).   The Employer as to Nonelective Contributions only may elect one of Elections   41(b)(5), (6), or (7) in addition to electing a top-heavy schedule. The   Employer must complete Election 41(c) if it elects any non-top-heavy   schedule. If the Employer does not elect a non-top-heavy schedule, the   elected top-heavy schedule(s) applies to all Plan Years. If the Employer   elects 41(b)(7), the modified non-top-heavy schedule must satisfy Code   §411(a)(2). If the Employer elects   Additional Matching under Election 30(h), the Employer should elect vesting   under the Additional Matching column in this Election 41(b). That election   applies to the Additional Matching even if the Employer has given the maybe   notice but does not give the supplemental notice for any Plan Year and as to   such Plan Years, the Plan is not a safe harbor plan and the Matching   Contributions are not Additional Matching Contributions. If the Plan’s   Effective Date is after December 31, 2006, do not complete Elections   41(b)(5), (b)(6), or (b)(7).]
    
	
 
    	
 
    	
 
    	
 
    
	
(c)
    	
o
    	
Nonelective   Contributions: application of top-heavy schedule  (Choose one of (1) or (2)):
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
(1)
    	
o
    	
Apply   in all Plan Years once top-heavy. Apply the top-heavy   vesting schedule under Election 41(b) for the first Plan Year in which   the Plan is top-heavy and then in all subsequent Plan Years.
    
																						

 

24

 

	
 
    	
(2)
    	
o
    	
Apply   only in top-heavy Plan Years. Apply the non-top-heavy   schedule under Election 41(b) in all Plan Years in which the Plan is not   a top-heavy plan.
    
	
 
    	
 
    	
 
    	
 
    
	
(d)
    	
o
    	
Special   vesting provisions:
    	
                                                                                                                                               .
    
	
 
    	
 
    	
 
    	
 
    
	
[Note: The Employer under Election 41(d) may describe special   vesting provisions from the elections available under Election 41 and/or a   combination thereof as to a: (i) Participant group (e.g., Full vesting   applies to Division A Employees OR to Employees hired on/before “x” date.   6-year graded vesting applies to Division B Employees OR to Employees hired   after “x” date.); and/or (ii) Contribution Type (e.g., Full vesting   applies as to Discretionary Nonelective Contributions. 6-year graded vesting   applies to Fixed Nonelective Contributions). Any special vesting provision   must satisfy Code §411(a) and must be nondiscriminatory.] 
    
	
 
    
	
42.
    	
YEAR   OF SERVICE - VESTING  (5.05). (Complete both (a) and (b)):
    
	
 
    	
 
    
	
[Note: If the Employer elects the Elapsed Time Method for vesting the   Employer should not complete this Election 42. If the Employer elects   immediate vesting, the Employer should not complete Election 42 or Election   43 unless it elects to apply a Year of Service for vesting under any other   Adoption Agreement election.]
    
	
 
    
	
(a)
    	
Year   of Service. An Employee must complete at least 750 Hours of   Service during a Vesting Computation Period to receive credit for a Year of   Service under Article V. [Note: The number may not   exceed 1,000. If left blank, the requirement is 1,000.]
    
	
 
    	
 
    	
 
    
	
(b)
    	
Vesting   Computation Period. The Plan measures a Year of Service based   on the following 12-consecutive month period (Choose   one of (1) or (2)):
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
(1)
    	
x
    	
Plan   Year.
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
(2)
    	
o
    	
Anniversary   Year.
    
	
 
    	
 
    	
 
    	
 
    
	
43.
    	
EXCLUDED YEARS OF SERVICE - VESTING  (5.05(C)).   The Plan excludes the following Years of Service for purposes of vesting (Choose (a) or choose one or more of (b) through   (e) as applicable):
    
	
 
    	
 
    
	
(a)
    	
x
    	
None. None other   than as specified in Section 5.05(C)(1).
    
	
 
    	
 
    	
 
    
	
(b)
    	
o
    	
Age   18. Any Year of Service before the Vesting Computation Period during   which the Participant attained the age of 18.
    
	
 
    	
 
    	
 
    
	
(c)
    	
o
    	
Prior   to Plan establishment. Any Year of Service during the period the   Employer did not maintain this Plan or a predecessor plan.
    
	
 
    	
 
    	
 
    
	
(d)
    	
o
    	
Rule of   Parity. Any Year of Service excluded under the   rule of parity. See Plan Section 5.06(C).
    
	
 
    	
 
    	
 
    
	
(e)
    	
o
    	
Additional   exclusions. The following Years of Service:
    	
                                                                                                .
    
	
 
    
	
[Note: The Employer under Election 43(e) may describe vesting   service exclusions provisions available under Election 43 and/or a   combination thereof as to a: (i) Participant group (e.g., No exclusions   apply to Division A Employees OR to Employees hired on/before “x” date. The   age 18 exclusion applies to Division B Employees OR to Employees hired after   “x” date.); or (ii) Contribution Type (e.g., No exclusions apply as to   Discretionary Nonelective Contributions. The age 18 exclusion applies to   Fixed Nonelective Contributions). Any exclusion specified under Election   43(e) must comply with Code §411(a)(4). Any exclusion must be   nondiscriminatory.]
    
	
 
    
	
ARTICLE VI
    
	
DISTRIBUTION OF ACCOUNT   BALANCE
    
	
 
    
	
44.   MANDATORY   DISTRIBUTION  (6.01(A)(1)/6.08(D)).   The Plan provides or does not provide for Mandatory Distribution of a   Participant’s Vested Account Balance following Severance from Employment, as   follows (Choose one of (a) or (b)):
    
	
 
    
	
(a)
    	
o
    	
No   Mandatory Distribution. The Plan will not make a Mandatory   Distribution following Severance from Employment.
    
	
 
    	
 
    	
 
    
	
(b)
    	
x
    	
Mandatory   Distribution. The Plan will make a Mandatory Distribution   following Severance from Employment. (Complete (1) and   (2). Choose (3) unless the Employer elects to limit Mandatory   Distributions to $1,000 including Rollover Contributions under Elections   44(b)(1)b. and 44(b)(2)b.):
    
	
 
    	
 
    	
 
    
	
 
    	
(1)
    	
Amount   limit. As to a Participant who incurs a Severance from   Employment and who will receive distribution before attaining the later of   age 62 or Normal Retirement Age, the Mandatory Distribution maximum amount is   equal to (Choose one of a., b., or c.):
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
a.
    	
o
    	
$5,000.
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
b.
    	
x
    	
$1,000.
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
c.
    	
o
    	
Specify   amount:   $          (may not exceed $5,000).
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
(2)
    	
Application   of Rollovers to amount limit. In determining whether a   Participant’s Vested Account Balance exceeds the Mandatory Distribution   dollar limit in Election 44(b)(1), the Plan (Choose   one of a. or b.):
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
a.
    	
x
    	
Disregards   Rollover Contribution Account.
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
b.
    	
o
    	
Includes   Rollover Contribution Account.
    
								

 

25

 

(3)               o                Amount of Mandatory Distribution subject to Automatic Rollover. A Mandatory Distribution to a Participant before attaining the later of age 62 or Normal Retirement Age is subject to Automatic Rollover under Section 6.08(D) (Choose one of a. or b.):

 

a.                   o                Only if exceeds $1,000. Only if the amount of the Mandatory Distribution exceeds $1,000, which for this purpose must include any Rollover Contributions Account.

 

b.                  o                Specify lesser amount. Only if the amount of the Mandatory Distribution is at least: $          (specify $1,000 or less).

 

45.              SEVERANCE DISTRIBUTION TIMING  (6.01). Subject to the timing limitations of Section 6.01(A)(1) in the case of a Mandatory Distribution, or in the case of any Distribution Requiring Consent under Section 6.01(A)(2), for which consent is received, the Plan Administrator will instruct the Trustee to distribute a Participant’s Vested Account Balance as soon as is administratively practical following the time specified below (Choose one or more of (a) through (k) as applicable):

 

[Note: If a Participant dies after Severance from Employment but before receiving distribution of all of his/her Account, the elections under this Election 45 no longer apply. See Section 6.01(B) and Election 49.]

 

	
 
    	
 
    	
 
    	
 
    	
(1)
    	
 
    	
(2)
    
	
 
    	
 
    	
 
    	
 
    	
Mandatory
    	
 
    	
Distribution
    
	
 
    	
 
    	
 
    	
 
    	
Distribution
    	
 
    	
Requiring Consent
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
(a)
    	
x
    	
Immediate. Immediately   following Severance from Employment.
    	
 
    	
x
    	
 
    	
x
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
(b)
    	
o
    	
Next   Valuation Date. After the next Valuation Date following Severance   from Employment.
    	
 
    	
o
    	
 
    	
o
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
(c)
    	
o
    	
Plan   Year. In the               Plan Year   following Severance from Employment (e.g., next or fifth).
    	
 
    	
o
    	
 
    	
o
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
(d)
    	
o
    	
Plan   Year quarter. In   the               Plan Year quarter following Severance from Employment (e.g.,   next or fifth).
    	
 
    	
o
    	
 
    	
o
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
(e)
    	
o
    	
Contribution   Type Accounts.                                      as to the Participant’s                                      Account(s) and                                      as to the   Participant’s                                      Account(s) (e.g., As soon as   is practical following Severance from Employment as to the Participant’s   Elective Deferral Account and as soon as is practical in the next Plan Year following   Severance from Employment as to the Participant’s Nonelective and Matching   Accounts).
    	
 
    	
o
    	
 
    	
o
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
(f)
    	
o
    	
Vesting   controlled timing. If the Participant’s total Vested Account Balance   exceeds $           , distribute                            (specify timing) and if the   Participant’s total Vested Account Balance does not exceed   $           , distribute                            (specify timing).
    	
 
    	
o
    	
 
    	
o
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
(g)
    	
o
    	
Distribute   at Normal Retirement Age. As to a Mandatory Distribution,   distribute not later than 60 days after the beginning of the Plan Year   following the Plan Year in which the previously severed Participant attains   the earlier of Normal Retirement Age or age 65. [Note: An election   under column (2) only will have effect if the Plan’s NRA is less than   age 62.]
    	
 
    	
o
    	
 
    	
o
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
(h)
    	
o
    	
Acceleration.   Notwithstanding any later specified distribution date in Election 45, a   Participant may elect an earlier distribution following Severance from   Employment (Choose (1) and (2) as   applicable):
    	
 
    	
o
    	
 
    	
o
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
(1)
    	
o
    	
Disability. If Severance   from Employment is on account of Disability or if the Participant incurs a   Disability following Severance from Employment.
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
(2)
    	
o
    	
Hardship. If the   Participant incurs a hardship under Section 6.07 following Severance   from Employment.
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
(i)
    	
o
    	
Required   distribution at Normal Retirement Age. A severed Participant may   not elect to delay distribution beyond the later of age 62 or Normal Retirement   Age.
    	
 
    	
N/A
    	
 
    	
o
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
(j)
    	
o
    	
No   buy-back/vesting controlled timing. Distribute as soon as is   practical following Severance from Employment if the Participant is fully   Vested. 
    	
 
    	
o
    	
 
    	
o
    

 

26

 

	
 
    	
 
    	
Distribute   as soon as is practical following a Forfeiture Break in Service if the   Participant is not fully Vested.
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
(k)
    	
o
    	
Describe   Severance from Employment distribution timing:
    	
 
    	
 
    	
 
    	
 
    

 

[Note: The Employer under Election 45(k) may describe Severance from Employment distribution timing provisions from the elections available under Election 45 and/or a combination thereof as to any: (i) Participant group (e.g., Immediate distribution after Severance of Employment applies to Division A Employees OR to Employees hired on/before “x” date. Distribution after the next Valuation Date following Severance from Employment applies to Division B Employees OR to Employees hired after “x” date.); (ii) Contribution Type (e.g., As to Division A Employees, immediate distribution after Severance of Employment applies as to Elective Deferral Accounts and distribution after the next Valuation Date following Severance from Employment applies to Nonelective Contribution Accounts); and/or (iii) merged plan account now held in the Plan (e.g., The accounts from the X plan merged into this Plan continue to be distributable in accordance with the X plan terms [supply terms] and not in accordance with the terms of this Plan). An Employer’s election under Election 45(k) must: (i) be objectively determinable; (ii) not be subject to Employer discretion; (iii) comply with Code §401(a)(14) timing requirements; (iv) be nondiscriminatory and (v) preserve Protected Benefits as required.]

 

46.              IN-SERVICE DISTRIBUTIONS/EVENTS  (6.01(C)). A Participant may elect an In-Service Distribution of the designated Contribution Type Accounts based on any of the following events in accordance with Section 6.01(C) (Choose one of (a) or (b)):

 

[Note: If the Employer elects any In-Service Distribution option, a Participant may elect to receive as many In-Service Distributions per Plan Year (with a minimum of one per Plan Year) as the Plan Administrator’s In-Service Distribution form or policy may permit. If the form or policy is silent, the number of In-Service Distributions is not limited. Prevailing Wage Contributions are treated as Nonelective Contributions unless the Prevailing Wage Contract provides otherwise. See Section 6.01(C)(4)(d) if the Employer elects to use Prevailing Wage Contributions to offset other contributions.]

 

(a)               o                None. The Plan does not permit any In-Service Distributions except as to any of the following (if applicable): (i) RMDs under Section 6.02; (ii) Protected Benefits; and (iii) under Section 6.01(C)(4) as to Employee Contributions, Rollover Contributions, DECs, Transfers, and Designated IRA Contributions.

 

(b)              x              Permitted. In-Service Distributions are permitted as follows from the designated Contribution Type Accounts (Choose one or more of (1) through (9)):

 

[Note: Unless the Employer elects otherwise in Election 46(b)(9), Elective Deferrals under Election 46(b) includes Pre-Tax and Roth Deferrals and Matching Contributions includes Additional Matching Contributions, irrespective of the Plan’s ACP testing status.]

 

	
 
    	
 
    	
 
    	
 
    	
 
    	
(1)
    	
 
    	
(2)
    	
 
    	
(3)
    	
 
    	
 
    	
 
    	
 
    	
 
    	
(6)
    	
 
    	
(7)
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
All
    	
 
    	
Elective
    	
 
    	
Safe Harbor
    	
 
    	
(4)
    	
 
    	
(5)
    	
 
    	
Matching
    	
 
    	
Nonelective/
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
Contributions
    	
 
    	
Deferrals
    	
 
    	
Contributions
    	
 
    	
QNECs
    	
 
    	
QMACs
    	
 
    	
Contrib.
    	
 
    	
SIMPLE
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
(1)
    	
o
    	
None.   Except for Election 46(a) exceptions.
    	
 
    	
N/A 
    (See Election 46(a))
    	
 
    	
o
    	
 
    	
o
    	
 
    	
o
    	
 
    	
o
    	
 
    	
o
    	
 
    	
o
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
(2)
    	
x
    	
Age 59 1/2 (must be at least 59 1/2).
    	
 
    	
o
    	
OR
    	
x
    	
 
    	
x
    	
 
    	
o
    	
 
    	
o
    	
 
    	
o
    	
 
    	
o
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
(3)
    	
x
    	
Age 65 (may be less than 59 1/2).
    	
 
    	
N/A
    	
 
    	
N/A
    	
 
    	
N/A
    	
 
    	
N/A
    	
 
    	
N/A
    	
 
    	
o
    	
 
    	
x
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
(4)
    	
x
    	
Hardship   (safe harbor). See Section 6.07(A).
    	
 
    	
N/A
    	
 
    	
x
    	
 
    	
N/A
    	
 
    	
N/A
    	
 
    	
N/A
    	
 
    	
o
    	
 
    	
x
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
(5)
    	
o
    	
Hardship   (non- safe harbor). See Section 6.07(B).
    	
 
    	
N/A
    	
 
    	
N/A
    	
 
    	
N/A
    	
 
    	
N/A
    	
 
    	
N/A
    	
 
    	
o
    	
 
    	
o
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
(6)
    	
x
    	
Disability.
    	
 
    	
o
    	
OR
    	
x
    	
 
    	
x
    	
 
    	
o
    	
 
    	
o
    	
 
    	
o
    	
 
    	
x
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
(7)
    	
o
    	
          year contributions. (specify minimum of two years) See Section 6.01(C)(4)(a)(i).
    	
 
    	
N/A
    	
 
    	
N/A
    	
 
    	
N/A
    	
 
    	
N/A
    	
 
    	
N/A
    	
 
    	
o
    	
 
    	
o
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
(8)
    	
o
    	
            months of participation. (specify minimum of 60 months) See Section 6.01(C)(4)(a)(ii).
    	
 
    	
N/A
    	
 
    	
N/A
    	
 
    	
N/A
    	
 
    	
N/A
    	
 
    	
N/A
    	
 
    	
o
    	
 
    	
o
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
(9)
    	
o
    	
Describe:
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    

 

27

 

[Note: The Employer under Election 46(b)(9) may describe In-Service Distribution provisions from the elections available under Election 46 and/or a combination thereof as to any: (i) Participant group (e.g., Division A Employee Accounts are distributable at age 59 1/2 OR Accounts of Employees hired on/before “x” date are distributable at age 59 1/2). No In-Service Distributions apply to Division B Employees OR to Employees hired after “x” date.); (ii) Contribution Type (e.g., Discretionary Nonelective Contribution Accounts are distributable on Disability. Fixed Nonelective Contribution Accounts are distributable on Disability or Hardship (non-safe harbor)); and/or (iii) merged plan account now held in the Plan (e.g., The accounts from the X plan merged into this Plan continue to be distributable in accordance with the X plan terms [supply terms] and not in accordance with the terms of this Plan). An Employer’s election under Election 46(b)(9) must: (i) be objectively determinable; (ii) not be subject to Employer discretion; (iii) preserve Protected Benefits as required; (iv) be nondiscriminatory; and (v) not permit an “early” distribution of any Restricted 401(k) Accounts or Restricted Pension Accounts. See Section 6.01(C)(4).]

 

In-Service Distribution of other Accounts. See Section 6.01(C)(4) as to In-Service Distribution of Employee Contributions, Rollover Contributions, DECs, Transfers, and Designated IRA Contributions.

 

47.              IN-SERVICE DISTRIBUTIONS/ADDITIONAL CONDITIONS  (6.01(C)). The following additional conditions apply to In-Service Distributions under Election 46(b) (Choose one of (a) or (b)):

 

[Note: The Employer should complete Election 47 if the Employer elects any In-Service Distributions under Election 46(b).]

 

(a)               o                Additional conditions.  (Complete (1). Choose (2) and (3) as applicable):

 

(1)               Vesting. A Participant may receive an In-Service Distribution under Election 46(b) based on vesting in the distributing Account as follows (Choose one of a., b., or c.):

 

a.                   o                100% vesting required. A Participant may not receive any In-Service Distribution unless the Participant is 100% Vested in the distributing Account.

 

b.                  o                100% vesting required except hardship. A Participant may not receive any In-Service Distribution unless the Participant is 100% Vested in the distributing Account, unless the distribution is based on hardship.

 

c.                   o                Not required. A Participant may receive an In-Service Distribution even from a partially-Vested Account, but the amount distributed may not exceed the Vested amount in the distributing partially-Vested Account.

 

(2)               o               Minimum amount. A Participant may not receive an In-Service Distribution in an amount which is less than: $            (specify amount not exceeding $1,000).

 

(3)               o               Describe other conditions:

 

[Note: An Employer’s election under Election 47(a)(3) must: (i) be objectively determinable; (ii) not be subject to Employer discretion; (iii) preserve Protected Benefits as required; (iv) be nondiscriminatory; and (v) not permit an “early” distribution of any Restricted 401(k) Accounts or Restricted Pension Accounts. See Section 6.01(C)(4).]

 

(b)              x              No other conditions. A Participant may elect to receive an In-Service Distribution upon any Election 46(b) event without further condition, provided that the amount distributed may not exceed the Vested amount in the distributing Account.

 

48.              POST-SEVERANCE AND LIFETIME RMD DISTRIBUTION METHODS  (6.03). A Participant whose Vested Account Balance exceeds $5,000 (or any lesser amount elected in Appendix B, Election 54(g)(7)): (i) who has incurred a Severance from Employment and will receive a distribution; or (ii) who remains employed but who must receive lifetime RMDs, may elect distribution under one of the following method(s) of distribution described in Section 6.03 and subject to any Section 6.03 limitations. (Choose one or more of (a) through (f) as applicable):

 

[Note: If a Participant dies after Severance from Employment but before receiving distribution of all of his/her Account, the elections under this Election 48 no longer apply. See Section 6.01(B) and Election 49.]

 

(a)               x              Lump-Sum. See Section 6.03(A)(3).

 

(b)              x              Installments only if Participant subject to lifetime RMDs. A Participant who is required to receive lifetime RMDs may receive installments payable in monthly, quarterly or annual installments equal to or exceeding the annual RMD amount. See Sections 6.02(A) and 6.03(A)(4)(a).

 

(c)               o                Installments. See Section 6.03(A)(4).

 

(d)              o                Alternative Annuity:                                                                                                                                                                                                                                                                      . See Section 6.03(A)(5).

 

[Note: Under a Plan which is subject to the joint and survivor annuity distribution requirements of Section 6.04 (Election 50(b)), the Employer may elect under 48(d) to offer one or more additional annuities (Alternative Annuity) to the Plan’s QJSA or QPSA. If the Employer elects under Election 50(a) to exempt Exempt Participants from the joint and survivor annuity requirements, the Employer should not elect to provide an Alternative Annuity under 48(d).]

 

(e)               o                Ad-Hoc distributions. See Section 6.03(A)(6).

 

[Note: If an Employer elects to permit Ad-Hoc distributions: (i) the option must be available to all Participants; and (ii) the option is a Protected Benefit.]

 

28

 

(f)                 o                Describe distribution method(s):

 

[Note: The Employer under Election 48(f) may describe Severance from Employment distribution methods from the elections available under Election 48 and/or a combination thereof as to any: (i) Participant group (e.g., Division A Employee Accounts are distributable in a Lump-Sum OR Accounts of Employees hired after “x” date are distributable in a Lump-Sum. Division B Employee Accounts are distributable in a Lump-Sum or in Installments OR Accounts of Employees hired on/before “x” date are distributable in a Lump-Sum or in Installments.); (ii) Contribution Type (e.g., Discretionary Nonelective Contribution Accounts are distributable in a Lump-Sum. Fixed Nonelective Contribution Accounts are distributable in a Lump-Sum or in Installments); and/or (iii) merged plan account now held in the Plan (e.g., The accounts from the X plan merged into this Plan continue to be distributable in accordance with the X plan terms [supply terms] and not in accordance with the terms of this Plan). An Employer’s election under Election 48(f) must: (i) be objectively determinable; (ii) not be subject to Employer, Plan Administrator or Trustee discretion; (iii) be nondiscriminatory; and (iv) preserve Protected Benefits as required.]

 

49.              BENEFICIARY DISTRIBUTION ELECTIONS  (6.01(B)/6.02(B)/6.03). Subject to the Participant’s elections under Section 6.01(B)(1) as to the timing and method of distribution of the Participant’s Account to the Participant’s Beneficiary (which Participant elections must be consistent with the Plan and this Election 49), in the case of a Participant’s death, the Beneficiary will receive distribution of the Participant’s Account (or of the Beneficiary’s share thereof) as follows (Complete (a), (b), and (c)):

 

[Note: For purposes of this Election 49, unless otherwise noted, a “Beneficiary” includes, but is not limited to a “Designated Beneficiary” under Section 6.02(E)(1).]

 

	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
(1)
    	
 
    	
(2)
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
Spouse Beneficiary
    	
 
    	
Other Beneficiary
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
(a)
    	
Timing. The Plan   will distribute to the Beneficiary as soon as is practical at (or not later   than) the following time or date (Choose one of   (1) through (4). Choose (5) if applicable):
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
(1)
    	
o
    	
Immediate.   Immediately  following   the Participant’s death.
    	
 
    	
o
    	
 
    	
o
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
(2)
    	
o
    	
Next   Calendar Year. In the calendar year which next follows the   calendar year of the Participant’s death, but not later than December 31   of such following calendar year.
    	
 
    	
o
    	
 
    	
o
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
(3)
    	
x
    	
As   Beneficiary elects. At such time as the Beneficiary may elect,   provided that distribution pursuant to such election (or in the absence of   any Beneficiary election) must commence no later than the Section 6.02   required date.
    	
 
    	
x
    	
 
    	
x
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
(4)
    	
o
    	
Describe:
    	
 
    	
o
    	
 
    	
o
    
												

 

[Note: The Employer under Election 49(a)(4) may describe an alternative distribution timing or afford the Beneficiary an election which is narrower than that permitted under election 49(a)(3). However, any election under Election 49(a)(4) must require distribution to commence no later than the  Section 6.02 required date.]

 

	
 
    	
(5)
    	
x
    	
Death   before DCD; spousal election to delay. If the Participant dies   before his/her Distribution Commencement Date and the Participant’s sole   Designated Beneficiary is his/her spouse, the spouse may elect to delay   distribution until the end of the calendar year in which the Participant would   have attained age 70 1/2, if that date is later than the date upon which distribution   would be required to commence to a non-spouse Beneficiary.
    	
 
    	
x
    	
 
    	
N/A
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
(b)
    	
Method.   The Plan will distribute to the Beneficiary under the following   distribution method(s). If more than one method is elected, the Beneficiary   may choose the method of distribution. (Choose one or more of   (1) through (4) but do not elect (4) only):
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
(1)
    	
x
    	
Lump-Sum.   See Section 6.03(A)(3).
    	
 
    	
x
    	
 
    	
x
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
(2)
    	
x
    	
Installments   sufficient to satisfy RMD. See   Section 6.03(A)(4)(a). An Installment in each Distribution Calendar Year   must at least equal the RMD amount.
    	
 
    	
x
    	
 
    	
x
    

 

29

 

	
 
    	
(3)
    	
o
    	
Ad-Hoc   sufficient to satisfy RMD. See   Section 6.03(A)(6). The Beneficiary must elect an Ad-Hoc distribution   for each Distribution Calendar Year at least equal to the RMD amount.
    	
 
    	
o
    	
 
    	
o
    

 

[Note: If an Employer elects to permit Ad-Hoc distributions: (i) the option must be available to all Beneficiaries; and (ii) the option is a Protected Benefit.]

 

	
 
    	
(4)
    	
o
    	
QPSA.   See Section 6.04(B).
    	
 
    	
o
    	
 
    	
N/A
    

 

[Note: If the Employer elects 50(b), the Employer should elect 49(b)(4). If the Employer elects 50(a), the Employer should not elect 49(b)(4). A surviving spouse may elect to waive the QPSA in favor of another method.]

 

	
(c)
    	
Death   before the DCD. If a Participant dies before the Distribution Commencement   Date, the distribution to the Beneficiary will be made in accordance with the   following rule(s) (Choose one of (1), (2),   or (3)):
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
(1)
    	
x
    	
Beneficiary   election. See Section 6.02(B)(1)(e). This election applies   only if the Beneficiary is a Designated Beneficiary under  Treas.   Reg. §1.401(a)(9)-4. If not, the 5-year rule applies. In the absence of   the Designated Beneficiary’s election, the Life Expectancy rule applies.   The Employer in Appendix B may elect to change the default (no Designated   Beneficiary election) to the 5-year rule.
    	
 
    	
x
    	
 
    	
x
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
(2)
    	
o
    	
Life   Expectancy rule. See Section 6.02(B)(1)(d). This election applies   only if the Beneficiary is a Designated Beneficiary under  Treas.   Reg. §1.401(a)(9)-4. If not, the 5-year rule applies.
    	
 
    	
o
    	
 
    	
o
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
(3)
    	
o
    	
5-year   rule. See Section 6.02(B)(1)(c). This election applies regardless of   whether the Beneficiary is a Designated Beneficiary under  Treas.   Reg. §1.401(a)(9)-4.
    	
 
    	
o
    	
 
    	
o
    

 

 

50.              JOINT AND SURVIVOR ANNUITY REQUIREMENTS  (6.04). The joint and survivor annuity distribution requirements of Section 6.04 (Choose one of (a) or (b)):

 

	
(a)
    	
x
    	
Profit   sharing exception. Do not apply to an Exempt Participant, as   described in Section 6.04(G)(1), but apply to any other Participants (or   to a portion of their Account as described in Section 6.04(G)) (Complete (1)):
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
(1)
    	
One-year   marriage rule. Under Section 7.05(A)(3) relating to an   Exempt Participant’s Beneficiary designation under the profit sharing   exception (Choose one of a. or b.):
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
a.
    	
x
    	
Applies. The one-year   marriage rule applies.
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
b.
    	
o
    	
Does   not apply. The one-year marriage rule does not apply.
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
(b)
    	
o
    	
Joint   and survivor annuity applicable. Section 6.04 applies   to all Participants (Complete (1)):
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
(1)
    	
One-year   marriage rule. Under Section 6.04(B) relating to the   QPSA (Choose one of a. or b.):
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
a.
    	
o
    	
Applies.   The one-year marriage rule applies.
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
b.
    	
o
    	
Does   not apply. The one-year marriage rule does not apply.
    
									

 

ARTICLE VII

ADMINISTRATIVE PROVISIONS

 

51.              ALLOCATION OF EARNINGS  (7.04(B)). For each Contribution Type provided under the Plan, the Plan allocates Earnings using the following method (Choose one or more of (a) through (f) as applicable):

 

[Note: Elective Deferrals/Employee Contributions also includes Rollover Contributions, Transfers, DECs and Designated IRA Contributions, Matching Contributions includes all Matching Contributions and Nonelective Contributions includes all Nonelective Contributions unless described otherwise in Election 51(f).]

 

	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
(2)
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
(1)
    	
 
    	
Elective Deferrals/
    	
 
    	
(3)
    	
 
    	
(4)
    
	
 
    	
 
    	
 
    	
 
    	
All
    	
 
    	
Employee
    	
 
    	
Matching
    	
 
    	
Nonelective
    
	
 
    	
 
    	
 
    	
 
    	
Contributions
    	
 
    	
Contributions
    	
 
    	
Contributions
    	
 
    	
Contributions
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
(a)
    	
x
    	
Daily. See Section 7.04(B)(4)(a).
    	
 
    	
x
    	
OR
    	
o
    	
 
    	
o
    	
 
    	
o
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
(b)
    	
o
    	
Balance   forward.
    	
 
    	
o
    	
OR
    	
o
    	
 
    	
o
    	
 
    	
o
    
	
 
    	
 
    	
See   Section 7.04(B)(4)(b).
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
(c)
    	
o
    	
Balance   forward with adjustment.
    	
 
    	
o
    	
OR
    	
o
    	
 
    	
o
    	
 
    	
o
    

 

30

 

	
 
    	
 
    	
See   Section 7.04(B)(4)(c). Allocate pursuant to the balance forward method, except   treat as part of the relevant Account at the beginning of the Valuation Period             % of the   contributions made during the following Valuation Period:                              .
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
(d)
    	
o
    	
Weighted   average. See Section  7.04(B)(4)(d).   If not a monthly weighting period, the weighting period is:                     .
    	
 
    	
o
    	
OR
    	
o
    	
 
    	
o
    	
 
    	
o
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
(e)
    	
o
    	
Participant-Directed   Account. See Section 7.04(B)(4)(e).
    	
 
    	
o
    	
OR
    	
o
    	
 
    	
o
    	
 
    	
o
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
(f)
    	
o
    	
Describe   Earnings allocation method:
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    

 

[Note: The Employer under Election 51(f) may describe Earnings allocation methods from the elections available under Election 51 and/or a combination thereof as to any: (i) Participant group (e.g., Daily applies to Division A Employees OR to Employees hired after “x” date. Balance forward applies to Division B Employees OR to Employees hired on/before “x” date.); (ii) Contribution Type (e.g., Daily applies as to Discretionary Nonelective Contribution Accounts. Participant-Directed Account applies to Fixed Nonelective Contribution Accounts); (iii) investment type, investment vendor or Account type (e.g., Balance forward applies to investments placed with vendor A and Participant-Directed Account applies to investments placed with vendor B OR Daily applies to Participant-Directed Accounts and balance forward applies to pooled Accounts); and/or (iv) merged plan account now held in the Plan (e.g., The accounts from the X plan merged into this Plan continue to be subject to Earnings allocation in accordance with the X plan terms [supply terms] and not in accordance with the terms of this Plan). An Employer’s election under Election 51(f) must: (i) be objectively determinable; (ii) not be subject to Employer discretion; and (iii) be nondiscriminatory.]

 

ARTICLE VIII

TRUSTEE AND CUSTODIAN, POWERS AND DUTIES

 

52.              VALUATION OF TRUST  (8.02(C)(4)). In addition to the last day of the Plan Year, the Trustee (or Named Fiduciary as applicable) must value the Trust Fund on the following Valuation Date(s) (Choose one or more of (a) through (d) as applicable):

 

[Note: Elective Deferrals/Employee Contributions also include Rollover Contributions, Transfers, DECs and Designated IRA Contributions, Matching Contributions includes all Matching Contributions and Nonelective Contributions includes all Nonelective Contributions unless described otherwise in Election 52(d).]

 

	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
(2)
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
(1)
    	
 
    	
Elective Deferrals/
    	
 
    	
(3)
    	
 
    	
(4)
    
	
 
    	
 
    	
 
    	
 
    	
All
    	
 
    	
Employee
    	
 
    	
Matching
    	
 
    	
Nonelective
    
	
 
    	
 
    	
 
    	
 
    	
Contributions
    	
 
    	
Contributions
    	
 
    	
Contributions
    	
 
    	
Contributions
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
(a)
    	
o
    	
No   additional Valuation Dates.
    	
 
    	
o
    	
OR
    	
o
    	
 
    	
o
    	
 
    	
o
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
(b)
    	
x
    	
Daily   Valuation Dates. Each business day of the Plan Year on which Plan assets   for which there is an established market are valued and the Trustee is   conducting business.
    	
 
    	
x
    	
OR
    	
o
    	
 
    	
o
    	
 
    	
o
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
(c)
    	
o
    	
Last   day of a specified period. The last day of each              of the Plan   Year.
    	
 
    	
o
    	
OR
    	
o
    	
 
    	
o
    	
 
    	
o
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
(d)
    	
o
    	
Specified   Valuation Dates:                                                              .
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    

 

[Note: The Employer under Election 52(d) may describe Valuation Dates from the elections available under Election 52 and/or a combination thereof as to any: (i) Participant group (e.g., No additional Valuation Dates apply to Division A Employees OR to Employees hired after “x” date. Daily Valuation Dates apply to Division B Employees OR to Employees hired on/before “x” date.); (ii) Contribution Type (e.g., No additional Valuation Dates apply as to Discretionary Nonelective Contribution Accounts. The last day of each Plan Year quarter applies to Fixed Nonelective Contribution Accounts); (iii) investment type, investment vendor or Account type (e.g., No additional Valuation Dates apply to investments placed with vendor A and Daily Valuation Dates apply to investments placed with vendor B OR Daily Valuation Dates apply to Participant-Directed Accounts and no additional Valuation Dates apply to pooled Accounts); and/or (iv) merged plan account now held in the Plan (e.g., The accounts from the X plan merged into this Plan continue to be subject to Trust valuation in accordance with the X plan terms [supply terms] and not in accordance with the terms of this Plan). An Employer’s election under Election 52(d) must: (i) be objectively determinable; (ii) not be subject to Employer discretion; and (iii) be nondiscriminatory.]

 

31

 

EXECUTION PAGE

 

The Employer, by executing this Adoption Agreement, hereby agrees to the provisions of this Plan and Trust.

 

	
 
    	
Employer:
    	
Simpson   Manufacturing Co., Inc
    
	
 
    	
 
    
	
 
    	
Date:
    	
April 28, 2011
    
	
 
    	
 
    	
 
    
	
 
    	
Signed:
    	
/s/   Karen Colonias
    
	
 
    	
 
    
	
 
    	
Karen   Colonias CFO
    
	
 
    	
[print name/title]
    
				

 

The Trustee (and Custodian, if applicable), by executing this Adoption Agreement, hereby accepts its position and agrees to all of the obligations, responsibilities and duties imposed upon the Trustee (or Custodian) under the Prototype Plan and Trust. If the Employer under Election 5(c) will use a separate Trust, the Trustee need not execute this Adoption Agreement.

 

	
 
    	
Nondiscretionary   Trustee(s):
    	
The   Charles Schwab Trust Company
    
	
 
    	
 
    
	
 
    	
Date:
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
Signed:
    	
 
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
[print name/title]
    
				

 

	
 
    	
Nondiscretionary   Trustee(s):
    	
 
    
	
 
    	
 
    
	
 
    	
Date:
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
Signed:
    	
 
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
[print name/title]
    
				

 

	
 
    	
Custodian(s) (Optional):
    	
 
    
	
 
    	
 
    
	
 
    	
Date:
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
Signed:
    	
 
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
[print name/title]
    
				

 

Use of Adoption Agreement. Failure to complete properly the elections in this Adoption Agreement may result in disqualification of the Employer’s Plan. The Employer only may use this Adoption Agreement only in conjunction with the basic plan document referenced by its document number on Adoption Agreement page one.

 

Execution for Page Substitution Amendment Only. If this paragraph is completed, this Execution Page documents an amendment to Adoption Agreement Election(s)             effective                        , by substitute Adoption Agreement page number(s)             . The Employer should retain all Adoption Agreement Execution Pages and amended pages. [Note: The Effective Date may be retroactive or may be prospective as permitted under Applicable Law.]

 

Prototype Plan Sponsor. The Prototype Plan Sponsor identified on the first page of the basic plan document will notify all adopting Employers of any amendment to this Prototype Plan or of any abandonment or discontinuance by the Prototype Plan Sponsor of its maintenance of this Prototype Plan. For inquiries regarding the adoption of the Prototype Plan, the Prototype Plan Sponsor’s intended meaning of any Plan provisions or the effect of the Opinion Letter issued to the Prototype Plan Sponsor, please contact the Prototype Plan Sponsor at the following address and telephone number: 2175 North California Boulevard, Suite 810, Walnut Creek, CA 94596, (888) 881-4015.

 

Reliance on Sponsor Opinion Letter. The Prototype Plan Sponsor has obtained from the IRS an Opinion Letter specifying the form of this Adoption Agreement and the basic plan document satisfy, as of the date of the Opinion Letter, Code §401. An adopting Employer may rely on the Prototype Sponsor’s IRS Opinion Letter only to the extent provided in Rev. Proc. 2005-16. The Employer may not rely on the Opinion Letter in certain other circumstances or with respect to certain qualification requirements, which are specified in the Opinion Letter and in Rev. Proc. 2005-16, Sections 19.02 and 19.03. In order to have reliance in such circumstances or with respect to such qualification requirements, the Employer must apply for a determination letter to Employee Plans Determinations of the IRS.

 

32

 

APPENDIX A

EGTRRA RESTATED PLANS - SPECIAL EFFECTIVE DATES

[Covering period from restated Effective Date in Election 4(b) until Employer executes EGTRRA restatement]

 

53.              SPECIAL EFFECTIVE DATES (1.19). The Employer elects or does not elect Appendix A special Effective Date(s) as follows. (Choose (a) or one or more of (b) through (r) as applicable):

 

[Note: If the Employer elects 53(a), do not complete the balance of this Election 53.]

 

(a)               o                Not applicable. The Employer does not elect any Appendix A special Effective Dates.

 

[Note: The Employer should use this Appendix A where it is restating its Plan for EGTRRA with a retroactive Effective Date, but where one or more Adoption Agreement elections under the restated Plan became effective after the Plan’s general restatement Effective Date under Election 4(b). For periods prior to the below-specified special Effective Date(s), the Plan terms in effect prior to its restatement under this Adoption Agreement control for purposes of the designated provisions. Any special Effective Date the Employer elects must comply with Applicable Law.]

 

(b)              x              Contribution Types (1.12). The Contribution Types under Election(s) 6(a), 6(e) are effective: May 1, 2011.

 

[Note: The Plan may not permit Roth Deferrals before January 1, 2006.]

 

(c)               o                Excluded Employees (1.21(D)). The Excluded Employee provisions under Election(s) 8             are effective:                          .

 

(d)              o                Compensation (1.11). The Compensation definition under Election(s)             (specify 9-11 as applicable) are effective:                          .

 

(e)               x              Eligibility (2.01-2.03). The eligibility provisions under Election(s) 17(e)(2), 17(f) (specify 14-19 as applicable) are effective: May 1, 2011.

 

(f)                 x              Elective Deferrals (3.02(A)-(C)). The Elective Deferral provisions under Election(s) 20 (specify 20-22 as applicable) are effective: May 1, 2011.

 

(g)              x              Catch-Up Deferrals (3.02(D)). The Catch-Up Deferral provisions under Election 23(a) are effective: May 1, 2011.

 

(h)              o                Matching Contributions (3.03). The Matching Contribution provisions under Election(s)             (specify 24-26 as applicable) are effective:                          .

 

(i)                  o                Nonelective Contributions (3.04). The Nonelective Contribution provisions under Election(s)             (specify 27-29 as applicable) are effective:                          .

 

(j)                  x              401(k) safe harbor (3.05). The 401(k) safe harbor provisions under Election(s) 30(a) are effective: May 1, 2011.

 

(k)               o                Allocation conditions (3.06). The allocation conditions under Election(s)             (specify 31-32 as applicable) are effective:                          .

 

(l)                  o                Forfeitures (3.07). The forfeiture allocation provisions under Election(s)             (specify 33-34 as applicable) are effective:                          .

 

(m)            o                Employee Contributions (3.09). The Employee Contribution provisions under Election(s) 35             are effective:                          .

 

(n)              x              Testing elections (4.06(B)). The testing elections under Election(s) 37(2)(a) under the “Effective as of execution (and retroactively if restatement)” column are effective: May 1, 2011.

 

(o)              x              Vesting (5.03). The vesting provisions under Election(s) 41(b)(4) (specify 38-43 as applicable) are effective: Plan years beginning on or after January 1, 2007.

 

(p)              x              Distributions (6.01 and 6.03). The distribution elections under Election(s) 46 (specify 44-50 as applicable) are effective: May 1, 2011.

 

(q)              o                Earnings/Trust valuation (7.04(B)/8.02(C)(4)). The Earnings allocation and Trust valuation provisions under Election(s)             (specify 51-52 as applicable) are effective:                          .

 

(r)                 o                Special Effective Date(s) for other elections  (specify elections and dates):                                                               .

 

1

 

APPENDIX B

BASIC PLAN DOCUMENT OVERRIDE ELECTIONS

 

54.              BASIC PLAN OVERRIDES. The Employer elects or does not elect to override various basic plan provisions as follows (Choose (a) or choose one or more of (b) through (i) as applicable):

 

[Note: If the Employer elects 54(a), do not complete the balance of this Election 54.]

 

(a)               o                Not applicable. The Employer does not elect to override any basic plan provisions.

 

[Note: The Employer at the time of restating its Plan with this Adoption Agreement may make an election on Appendix A (Election 53(r)) to specify a special Effective Date for any override provision the Employer elects in this Election 54. If the Employer, after it has executed this Adoption Agreement, later amends its Plan to change any election on this Appendix B, the Employer should document the Effective Date of the Appendix B amendment on the Execution Page or otherwise in the amendment.]

 

(b)              o                Definition (Article I) overrides.  (Choose one or more of (1) through (9) as applicable):

 

(1)               o               W-2 Compensation exclusion of paid/reimbursed moving expenses (1.11(B)(1)). W-2 Compensation excludes amounts paid or reimbursed by the Employer for moving expenses incurred by an Employee, but only to the extent that, at the time of payment, it is reasonable to believe that the Employee may deduct these amounts under Code §217.

 

(2)               o               Alternative (general) 415 Compensation (1.11(B)(4)). The Employer elects to apply the alternative (general) 415 definition of Compensation in lieu of simplified 415 Compensation. As to amounts received from an unfunded nonqualified deferred compensation plan which is includible in gross income in the taxable year of receipt (Choose one of a. or b.):

 

a.                   o                Include. Include the nonqualified deferred compensation.

 

b.                  o                Do not include. Do not include the nonqualified deferred compensation.

 

(3)               o               Inclusion of Deemed 125 Compensation (1.11(C)). Compensation under Section 1.11 includes Deemed 125 Compensation.

 

(4)               o               Inclusion of Post-Severance Compensation (1.11(I) and 4.05(C)(1)). The Plan includes Post-Severance Compensation within the meaning of Prop. Treas. Reg. §1.415(c)-2(e) as described in Sections 1.11(I) and 4.05(C)(1) as follows (Choose one or both of a. and b.):

 

a.                   o                Include for 415 testing. Include for 415 testing and for other testing which uses 415 Compensation. This provision applies effective as of                          (specify a date which is no earlier than January 1, 2005).

 

b.                  o                Include for allocations. Include for allocations as follows  (specify  affected Contribution Type(s) and any adjustments to Post-Severance Compensation used for allocation):                                                           . This provision applies effective as of                          (specify a date which is no earlier than January 1, 2002).

 

(5)               o               Inclusion of Deemed Disability Compensation (1.11(K)). Include Deemed Disability Compensation. (Choose one of a. or b.):

 

a.                   o                NHCEs only. Apply only to disabled NHCEs.

 

b.                  o                All Participants. Apply to all disabled Participants. The Employer will make Employer Contributions for such disabled Participants for:                                                                        (specify a fixed or determinable period).

 

(6)               o               Early application of final 401(k) regulations (1.28). The Employer (consistent with the Plan Administrator’s operation of the Plan) elects to apply the final 401(k) regulations before the beginning of the 2006 Plan Year. The Employer elects to apply the regulations effective as of:                                                (specify Plan Year ending after December 29, 2004, e.g., Plan Year ending December 31, 2004 OR Plan Year beginning January 1, 2005).

 

(7)               o               Leased Employees (1.21(B)). The Employer for purposes of the following Contribution Types, does not exclude Leased Employees:                                                                        (specify Contribution Types).

 

(8)               o               Offset if contributions to leasing organization plan (1.21(B)(2)). The Employer will reduce allocations to this Plan for any Leased Employee  to the extent that the leasing organization contributes to or provides benefits under a leasing organization plan to or for the Leased Employee and which are attributable to the Leased Employee’s services for the Employer.  The amount of the offset is as follows:                                                 .

 

[Note: The election of an offset under this Election 54(b)(8) requires that the Employer aggregate its plan with the leasing organization’s plan for coverage and nondiscrimination testing.]

 

(9)               o               Reclassified Employees (1.21(D)(3)). The Employer for purposes of the following Contribution Types, does not exclude Reclassified Employees (or the following categories of Reclassified Employees):                                      (specify Contribution Types and/or categories of Reclassified Employees).

 

1

 

(c)               o                Rule of parity — participation (Article II) override (2.03(D)). For purposes of Plan participation, the Plan applies the “rule of parity” under Code §410(a)(5)(D).

 

(d)              o                Contribution/allocation (Article III) overrides.  (Choose one or more of (1) through (7) as applicable):

 

(1)               o               Treatment of Automatic Deferrals as Roth Deferrals (3.02(B)(7)). The Employer elects to treat Automatic Deferrals as Roth Deferrals in lieu of treating Automatic Deferrals as Pre-Tax Deferrals.

 

(2)               o               Application of Safe Harbor Contributions to other allocations (3.05(E)(11)). Any Safe Harbor Nonelective Contributions allocated to a Participant’s account will not be applied toward (offset) any allocation to the Participant of a non-Safe Harbor Nonelective Contribution.

 

(3)               o               Short Plan Year or allocation period (3.06(B)(1)(c)). The Plan Administrator (Choose one of a. or b.):

 

a.                   o                No pro-ration. Will not pro-rate Hours of Service in any short allocation period.

 

b.                  o                Pro-ration based on months. Will pro-rate any Hour of Service requirement based on the number of months in the short allocation period.

 

(4)               o               Limited waiver of allocation conditions for re-hired Participants (3.06(G)). The allocation conditions the Employer has elected in the Adoption Agreement do not apply to re-hired Participants in the Plan Year they resume participation, as described in Section 3.06(G).

 

(5)               o               Associated Match forfeiture timing (3.07(A)(1)(c)). Forfeiture of associated matching contributions occurs in the Testing Year.

 

(6)               o               Safe Harbor top-heavy exempt fail-safe (3.07(A)(4)). In lieu of ordering forfeitures as (a), (b), (c), and (d) under Section 3.07(A)(4), the Employer establishes the following forfeiture ordering rules (Specify the ordering rules, for example, (d), (a), (b), and (c)):                         .

 

(7)               o               Suspension (3.06(F)(3)). The Plan Administrator in applying Section 3.06(F) will (Choose one or more of a., b., and c. as applicable):

 

a.                   o                Re-order tiers. Apply the suspension tiers in Section 3.06(F)(2) in the following order:                               (specify  order).

 

b.                  o                Hours of Service tie-breaker. Apply the greatest Hours of Service as the tie-breaker within a suspension tier in lieu of applying the lowest Compensation.

 

c.                   o                Additional/other tiers. Apply the following additional or other tiers:                               (specify suspension tiers and ordering).

 

(e)               o                Testing (Article IV) overrides.  (Choose one or both of (1) and (2) as applicable):

 

(1)               o               Early application of Gap Period income to Excess Deferrals (4.11(C)(1)). The Plan Administrator will distribute Gap Period income allocated on Excess Deferrals as to Excess Deferrals occurring in the                          Taxable Year and in later Taxable Years (Specify a Taxable Year before 2008).

 

(2)               o               Early application of Gap Period income to Excess Contributions/Aggregates (4.11(C)(2)). The Plan Administrator will distribute Gap Period income allocated on Excess Contributions and Excess Aggregate Contributions occurring in the                          Plan Year and in later Plan Years (Specify a Plan Year before the Final 401(k) Regulations Effective Date).

 

(f)                 o                Vesting (Article V) overrides.  (Choose one or more of (1) through (6) as applicable):

 

(1)               o               Application of top-heavy vesting to Matching (5.03(A)(1)). The Employer makes the following elections regarding the application of top-heavy vesting to its Regular Matching and Additional Matching Contributions (Choose one or both of a. and b.):

 

a.                   o                Post-EGTRRA Matching only. Apply top-heavy vesting only to such post-2001 Plan Year Matching Contributions.

 

b.                  o                Waiver of Hour of Service requirement. Apply top-heavy vesting as under the basic plan or as modified by Election 54(f)(1)a. to all Participants even if they did not have an Hour of Service in any post-2001 Plan Year.

 

(2)               o               Alternative “grossed-up” vesting formula (5.03(C)(2)). The Employer elects the alternative vesting formula described in Section 5.03(C)(2).

 

(3)               o               Source of Cash-Out forfeiture restoration (5.04(B)(5)). To restore a Participant’s Account Balance as described in Section 5.04(B)(5), the Plan Administrator, to the extent necessary, will allocate from the following source(s) and in the following order (Specify, in order, one or more of the following: Forfeitures, Earnings, and/or Employer Contribution):                                                                  .

 

(4)               o               Deemed Cash-Out of 0% Vested Participant (5.04(C)). The deemed cash-out rule of Section 5.04(C) does not apply to the Plan.

 

2

 

(5)               o               Accounting for Cash-Out repayment; Contribution Type (5.04(D)(2)). In lieu of the accounting described in Section 5.04(D)(2), the Plan Administrator will account for a Participant’s Account Balance attributable to a Cash-Out repayment: (Choose one of a. or b.):

 

a.                 o                Nonelective rule. Under the nonelective rule.

 

b.                o                Rollover rule. Under the rollover rule.

 

(6)               o               One-year hold-out rule — vesting (5.06(D)). The one-year hold-out Break in Service rule under Code §411(a)(6)(B) applies.

 

(g)            x                Distribution (Article VI) overrides.  (Choose one or more of (1) through (7) as applicable):

 

(1)               x             Election of 5-year rule (6.02(B)(1)(e)). Under Section 6.02(B)(1)(e) relating to death before the RBD, if a Designated Beneficiary does not make a timely election, the 5-year rule applies in lieu of the Life Expectancy rule.

 

(2)               o               2002 only special Effective Date for Section 6.02 (6.02(D)(4)). For the 2002 DCY only, the Plan Administrator will apply the RMD rules in effect under (Choose  one of a. or b.):

 

a.                 o                1987 proposed regulations. The 1987 proposed Treasury regulations under Code §401(a)(9).

 

b.                o                2001 proposed regulations. The 2001 proposed Treasury regulations under Code §401(a)(9).

 

(3)               o               RBD definition (6.02(E)(7)(c)). In lieu of the RBD definition in Section 6.02(E)(7)(a) and (b), the Plan Administrator (Choose  one of a. or b.):

 

a.                 o                SBJPA definition indefinitely. Indefinitely will apply the pre-SBJPA RBD definition.

 

b.                o                SBJPA definition to specified date. Will apply the pre-SBJPA definition until                      (the stated date may not be earlier than January 1, 1997), and thereafter will apply the RBD definition in Sections 6.02(E)(7)(a) and (b).

 

(4)               o               Modification of QJSA (6.04(A)(3)). The Survivor Annuity percentage will be         %. (Specify  a percentage between 50% and 100%.)

 

(5)               o               Modification of QPSA (6.04(B)(2)). The QPSA percentage will be            %. (Specify  a percentage between 50% and 100%.)

 

(6)               o               Restriction on hardship source; grandfathering (6.07(E)). The hardship distribution limit includes grandfathered amounts.

 

(7)               o               Replacement of $5,000 amount (6.09). All Plan references (except in Sections 3.02(D), 3.10 and 3.12(C)(2)) to “$5,000” will be $           . (Specify  an amount less than $5,000.)

 

(h)            o                  Administrative, Trust and insurance overrides (Articles VII, VIII and IX).  (Choose one or more of (1) through (9) as applicable):

 

(1)               o               Contributions prior to accrual or precise determination (7.04(B)(5)(b)). The Plan Administrator will allocate Earnings described in Section 7.04(B)(5)(b) as follows (Choose one of a., b., or c.):

 

a.                 o                Treat as contribution. Treat the Earnings as an Employer Matching or Nonelective Contribution and allocate accordingly.

 

b.                o                Balance forward. Allocate the Earnings using the balance forward method described in Section 7.04(B)(4)(b).

 

c.                 o                Weighted average. Allocate the Earnings on Matching Contributions using the weighted average method in a manner similar to the method described in Section 7.04(B)(4)(d).

 

(2)               o               Automatic revocation of spousal designation (7.05(A)(1)). The automatic revocation of a spousal Beneficiary designation in the case of divorce or legal separation does not apply.

 

(3)               o               Limitation on frequency of Beneficiary designation changes (7.05(A)(4)). Except in the case of a Participant incurring a major life event, a period of at least                    must elapse between Beneficiary designation changes. (Specify a period of time, e.g., 90 days OR 12 months.)

 

(4)               o               Definition of “spouse” (7.05(A)(5)). The following definition of “spouse” applies:                                                       . (Specify  a definition consistent with Applicable Law.)

 

(5)               o               Administration of default provision; default Beneficiaries (7.05(C)). The following list of default Beneficiaries will apply:                                                                               . (Specify, in order, one or more Beneficiaries who will receive the interest of a deceased Participant.)

 

(6)               o               Subsequent restoration of forfeiture-sources and ordering (7.07(A)(3)). Restoration of forfeitures will come from the following sources, in the following order                                                                            . (Specify, in order, one or more of the following: Forfeitures, Employer Contribution, Trust Fund Earnings.)

 

3

 

(7)               o               State law (7.10(H)). The law of the following state will apply:                                                               . (Specify  one of the 50 states or the District of Columbia, or other appropriate legal jurisdiction, such as a territory of the United States or an Indian tribal government.)

 

(8)               o               Employer securities/real property in Profit Sharing Plans/401(k) Plans (8.02(A)(13)(a)). The Plan  limit on investment in qualifying Employer securities/real property is         %. (Specify  a percentage which is less than 100%.)

 

(9)               o               Provisions relating to insurance and insurance company (9.08). The following provisions apply:                               (Specify such language as necessary to accommodate life insurance Contracts the Plan holds.)

 

[Note: The provisions in this Election 54(h)(9) may override provisions in Article IX of the Plan, but must be consistent with all other provisions of the Plan and Applicable Law.]

 

(i)                o                  Code Sections 415/416 (Article XI) override (11.02(A)(1)). Because of the required aggregation of multiple plans, to satisfy Code §§415 and/or 416, the following overriding provisions apply:                                                        . (Specify such language as necessary to satisfy §§415 and 416.)

 

4

 

APPENDIX C

LIST OF GROUP TRUST FUNDS/PERMISSIBLE TRUST AMENDMENTS

 

55.              o                INVESTMENT IN GROUP TRUST FUND  (8.09). The nondiscretionary Trustee, as directed or the discretionary Trustee acting without direction (and in addition to the discretionary Trustee’s authority to invest in its own funds under Section 8.02(A)(3)), may invest in any of the following group trust funds:                                                                                                                    . (Specify the names of one or more group trust funds in which the Plan can invest).

 

[Note: A discretionary or nondiscretionary Trustee also may invest in any group trust fund authorized by an independent Named Fiduciary.]

 

56.              o                PERMISSIBLE TRUST AMENDMENTS  (8.11). The Employer makes the following amendments to the Trust as permitted under Rev. Proc. 2005-16, Section 5.09 (Choose one or more of (a) through (c) as applicable):

 

[Note: Any amendment under this Election 56 must not: (i) conflict with any Plan provision unrelated to the Trust or Trustee; or (ii) cause the Plan to violate Code §401(a). The amendment may override, add to, delete or otherwise modify the Trust provisions. Do not use this Election 56 to substitute another pre-approved trust for the Trust. See Election 5(c) as to a substitute trust.]

 

(a)            o                Investments. The Employer amends the Trust provisions relating to Trust investments as follows:

 

.

 

(b)           o                Duties. The Employer amends the Trust provisions relating to Trustee (or Custodian) duties as follows:

 

.

 

(c)            o                Other administrative provisions. The Employer amends the other administrative provisions of the Trust as follows:

 

.

 

1

 

APPENDIX D

TABLE I: ACTUARIAL FACTORS

UP-1984

Without Setback

 

	
Number of years
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
from attained age
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
at the end of Plan Year until
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Normal Retirement Age
    	
 
    	
7.50%
    	
 
    	
8.00%
    	
 
    	
8.50%
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
0
    	
 
    	
8.458
    	
 
    	
8.196
    	
 
    	
7.949
    	
 
    
	
1
    	
 
    	
7.868
    	
 
    	
7.589
    	
 
    	
7.326
    	
 
    
	
2
    	
 
    	
7.319
    	
 
    	
7.027
    	
 
    	
6.752
    	
 
    
	
3
    	
 
    	
6.808
    	
 
    	
6.506
    	
 
    	
6.223
    	
 
    
	
4
    	
 
    	
6.333
    	
 
    	
6.024
    	
 
    	
5.736
    	
 
    
	
5
    	
 
    	
5.891
    	
 
    	
5.578
    	
 
    	
5.286
    	
 
    
	
6
    	
 
    	
5.480
    	
 
    	
5.165
    	
 
    	
4.872
    	
 
    
	
7
    	
 
    	
5.098
    	
 
    	
4.782
    	
 
    	
4.491
    	
 
    
	
8
    	
 
    	
4.742
    	
 
    	
4.428
    	
 
    	
4.139
    	
 
    
	
9
    	
 
    	
4.412
    	
 
    	
4.100
    	
 
    	
3.815
    	
 
    
	
10
    	
 
    	
4.104
    	
 
    	
3.796
    	
 
    	
3.516
    	
 
    
	
11
    	
 
    	
3.817
    	
 
    	
3.515
    	
 
    	
3.240
    	
 
    
	
12
    	
 
    	
3.551
    	
 
    	
3.255
    	
 
    	
2.986
    	
 
    
	
13
    	
 
    	
3.303
    	
 
    	
3.014
    	
 
    	
2.752
    	
 
    
	
14
    	
 
    	
3.073
    	
 
    	
2.790
    	
 
    	
2.537
    	
 
    
	
15
    	
 
    	
2.859
    	
 
    	
2.584
    	
 
    	
2.338
    	
 
    
	
16
    	
 
    	
2.659
    	
 
    	
2.392
    	
 
    	
2.155
    	
 
    
	
17
    	
 
    	
2.474
    	
 
    	
2.215
    	
 
    	
1.986
    	
 
    
	
18
    	
 
    	
2.301
    	
 
    	
2.051
    	
 
    	
1.831
    	
 
    
	
19
    	
 
    	
2.140
    	
 
    	
1.899
    	
 
    	
1.687
    	
 
    
	
20
    	
 
    	
1.991
    	
 
    	
1.758
    	
 
    	
1.555
    	
 
    
	
21
    	
 
    	
1.852
    	
 
    	
1.628
    	
 
    	
1.433
    	
 
    
	
22
    	
 
    	
1.723
    	
 
    	
1.508
    	
 
    	
1.321
    	
 
    
	
23
    	
 
    	
1.603
    	
 
    	
1.396
    	
 
    	
1.217
    	
 
    
	
24
    	
 
    	
1.491
    	
 
    	
1.293
    	
 
    	
1.122
    	
 
    
	
25
    	
 
    	
1.387
    	
 
    	
1.197
    	
 
    	
1.034
    	
 
    
	
26
    	
 
    	
1.290
    	
 
    	
1.108
    	
 
    	
0.953
    	
 
    
	
27
    	
 
    	
1.200
    	
 
    	
1.026
    	
 
    	
0.878
    	
 
    
	
28
    	
 
    	
1.116
    	
 
    	
0.950
    	
 
    	
0.810
    	
 
    
	
29
    	
 
    	
1.039
    	
 
    	
0.880
    	
 
    	
0.746
    	
 
    
	
30
    	
 
    	
0.966
    	
 
    	
0.814
    	
 
    	
0.688
    	
 
    
	
31
    	
 
    	
0.899
    	
 
    	
0.754
    	
 
    	
0.634
    	
 
    
	
32
    	
 
    	
0.836
    	
 
    	
0.698
    	
 
    	
0.584
    	
 
    
	
33
    	
 
    	
0.778
    	
 
    	
0.647
    	
 
    	
0.538
    	
 
    
	
34
    	
 
    	
0.723
    	
 
    	
0.599
    	
 
    	
0.496
    	
 
    
	
35
    	
 
    	
0.673
    	
 
    	
0.554
    	
 
    	
0.457
    	
 
    
	
36
    	
 
    	
0.626
    	
 
    	
0.513
    	
 
    	
0.422
    	
 
    
	
37
    	
 
    	
0.582
    	
 
    	
0.475
    	
 
    	
0.389
    	
 
    
	
38
    	
 
    	
0.542
    	
 
    	
0.440
    	
 
    	
0.358
    	
 
    
	
39
    	
 
    	
0.504
    	
 
    	
0.407
    	
 
    	
0.330
    	
 
    
	
40
    	
 
    	
0.469
    	
 
    	
0.377
    	
 
    	
0.304
    	
 
    
	
41
    	
 
    	
0.436
    	
 
    	
0.349
    	
 
    	
0.280
    	
 
    
	
42
    	
 
    	
0.406
    	
 
    	
0.323
    	
 
    	
0.258
    	
 
    
	
43
    	
 
    	
0.377
    	
 
    	
0.299
    	
 
    	
0.238
    	
 
    
	
44
    	
 
    	
0.351
    	
 
    	
0.277
    	
 
    	
0.219
    	
 
    
	
45
    	
 
    	
0.327
    	
 
    	
0.257
    	
 
    	
0.202
    	
 
    

 

Note: A Participant’s Actuarial Factor under Table I is the factor corresponding to the number of years until the Participant reaches his/her Normal Retirement Age under the Plan. A Participant’s age as of the end of the current Plan Year is his/her age on his/her last birthday. For any Plan Year beginning on or after the Participant’s attainment of Normal Retirement Age, the factor for “zero” years applies.

 

1

 

APPENDIX D

TABLE II: ADJUSTMENT TO ACTUARIAL FACTORS FOR NORMAL RETIREMENT AGE

OTHER THAN 65

UP-1984

Without Setback

 

	
Normal Retirement
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Age
    	
 
    	
7.50%
    	
 
    	
8.00%
    	
 
    	
8.50%
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
55
    	
 
    	
1.2242
    	
 
    	
1.2147
    	
 
    	
1.2058
    	
 
    
	
56
    	
 
    	
1.2043
    	
 
    	
1.1959
    	
 
    	
1.1879
    	
 
    
	
57
    	
 
    	
1.1838
    	
 
    	
1.1764
    	
 
    	
1.1694
    	
 
    
	
58
    	
 
    	
1.1627
    	
 
    	
1.1563
    	
 
    	
1.1503
    	
 
    
	
59
    	
 
    	
1.1411
    	
 
    	
1.1357
    	
 
    	
1.1305
    	
 
    
	
60
    	
 
    	
1.1188
    	
 
    	
1.1144
    	
 
    	
1.1101
    	
 
    
	
61
    	
 
    	
1.0960
    	
 
    	
1.0925
    	
 
    	
1.0891
    	
 
    
	
62
    	
 
    	
1.0726
    	
 
    	
1.0700
    	
 
    	
1.0676
    	
 
    
	
63
    	
 
    	
1.0488
    	
 
    	
1.0471
    	
 
    	
1.0455
    	
 
    
	
64
    	
 
    	
1.0246
    	
 
    	
1.0237
    	
 
    	
1.0229
    	
 
    
	
65
    	
 
    	
1.0000
    	
 
    	
1.0000
    	
 
    	
1.0000
    	
 
    
	
66
    	
 
    	
0.9752
    	
 
    	
0.9760
    	
 
    	
0.9767
    	
 
    
	
67
    	
 
    	
0.9502
    	
 
    	
0.9518
    	
 
    	
0.9533
    	
 
    
	
68
    	
 
    	
0.9251
    	
 
    	
0.9274
    	
 
    	
0.9296
    	
 
    
	
69
    	
 
    	
0.8998
    	
 
    	
0.9027
    	
 
    	
0.9055
    	
 
    
	
70
    	
 
    	
0.8740
    	
 
    	
0.8776
    	
 
    	
0.8810
    	
 
    
	
71
    	
 
    	
0.8478
    	
 
    	
0.8520
    	
 
    	
0.8561
    	
 
    
	
72
    	
 
    	
0.8214
    	
 
    	
0.8261
    	
 
    	
0.8307
    	
 
    
	
73
    	
 
    	
0.7946
    	
 
    	
0.7999
    	
 
    	
0.8049
    	
 
    
	
74
    	
 
    	
0.7678
    	
 
    	
0.7735
    	
 
    	
0.7790
    	
 
    
	
75
    	
 
    	
0.7409
    	
 
    	
0.7470
    	
 
    	
0.7529
    	
 
    
	
76
    	
 
    	
0.7140
    	
 
    	
0.7205
    	
 
    	
0.7268
    	
 
    
	
77
    	
 
    	
0.6874
    	
 
    	
0.6942
    	
 
    	
0.7008
    	
 
    
	
78
    	
 
    	
0.6611
    	
 
    	
0.6682
    	
 
    	
0.6751
    	
 
    
	
79
    	
 
    	
0.6349
    	
 
    	
0.6423
    	
 
    	
0.6494
    	
 
    
	
80
    	
 
    	
0.6090
    	
 
    	
0.6165
    	
 
    	
0.6238
    	
 
    

 

Note: Use Table II only if the Normal Retirement Age for any Participant is not 65. If a Participant’s Normal Retirement Age is not 65, adjust Table I by multiplying all factors applicable to that Participant in Table I by the appropriate Table II factor.

 

2

 

AMENDMENT FOR THE FINAL 415 REGULATIONS

 

ARTICLE I

PREAMBLE

 

1.1         Effective date of Amendment. This Amendment is effective for limitation years and plan years beginning on or after July 1, 2007, except as otherwise provided herein.

 

1.2         Superseding of inconsistent provisions. This Amendment supersedes the provisions of the Plan to the extent those provisions are inconsistent with the provisions of this Amendment.

 

1.3         Employer’s election. The Employer adopts all Articles of this Amendment, except those Articles that the Employer specifically elects not to adopt.

 

1.4         Construction. Except as otherwise provided in this Amendment, any reference to “Section” in this Amendment refers only to sections within this Amendment, and is not a reference to the Plan. The Article and Section numbering in this Amendment is solely for purposes of this Amendment, and does not relate to any Plan article, section or other numbering designations.

 

1.5         Effect of restatement of Plan. If the Employer restates the Plan, then this Amendment shall remain in effect after such restatement unless the provisions in this Amendment are restated or otherwise become obsolete (e.g., if the Plan is restated onto a plan document which incorporates the final Code §415 Regulation provisions).

 

1.6         Adoption by prototype sponsor. Except as otherwise provided herein, pursuant to the provisions of the Plan and Section 5.01 of Revenue Procedure 2005-16, the sponsor hereby adopts this Amendment on behalf of all adopting employers.

 

ARTICLE II

EMPLOYER ELECTIONS

 

The Employer only needs to complete the questions in Section 2.2 in order to override the default provisions set forth below. If the Plan will use all of the default provisions, then these questions should be skipped and the Employer does not need to execute this amendment.

 

2.1         Default Provisions. Unless the Employer elects otherwise in Section 2.2, the following defaults will apply:

 

a.               The provisions of the Plan setting forth the definition of compensation for purposes of Code §415 (hereinafter referred to as “415 Compensation”), as well as compensation for purposes of determining highly compensated employees pursuant to Code §414(q) and for top-heavy purposes under Code §416 (including the determination of key employees), shall be modified by (1) including payments for unused sick, vacation or other leave and payments from nonqualified unfunded deferred compensation plans (Amendment Section 3.2(b)), (2) excluding salary continuation payments for participants on military service (Amendment Section 3.2(c)), and (3) excluding salary continuation payments for disabled participants (Amendment Section 3.2(d)).

 

b.              The “first few weeks rule” does not apply for purposes of 415 Compensation (Amendment Section 3.3).

 

c.               The provision of the Plan setting forth the definition of compensation for allocation purposes (hereinafter referred to as “Plan Compensation”) shall be modified to provide for the same adjustments to Plan Compensation (for all contribution types) that are made to 415 Compensation pursuant to this Amendment.

 

2.2         In lieu of default provisions. In lieu of the default provisions above, the following apply: (select all that apply; if no selections are made, then the defaults apply)

 

415 Compensation. (select all that apply):

a.               o    Exclude leave cashouts and deferred compensation (Section 3.2(b))

b.              o    Include military continuation payments (Section 3.2(c))

c.               o    Include disability continuation payments (Section 3.2(d)):

1.               o    For Nonhighly Compensated Employees only

2.               o    For all participants and the salary continuation will continue for the following fixed or determinable period:                                   

d.              o    Apply the administrative delay (“first few weeks”) rule (Section 3.3)

 

1

 

Plan Compensation. (select all that apply):

 

NOTE: Elective Deferrals includes Pre-Tax Deferrals, Roth Deferrals and Employee Contributions, Matching includes all Matching Contributions and Nonelective includes all Nonelective Contributions. For all Plans other than 401(k) plans, only use column 1. or column 4. in the table below.

 

NOTE: Under the GUST PPD document, the plan excludes all post-severance compensation unless the Employer had elected otherwise in its adoption agreement.

 

	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
Elective
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
All
    	
 
    	
 
    	
 
    	
Deferrals
    	
 
    	
Matching
    	
 
    	
Nonelective
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
e.
    	
o
    	
Default   provisions apply
    	
 
    	
1.   N/A
    	
 
    	
OR
    	
 
    	
2. o
    	
 
    	
3. o
    	
 
    	
4. o
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
f.
    	
o
    	
No   change from existing Plan provisions
    	
 
    	
1.   o
    	
 
    	
OR
    	
 
    	
2. o
    	
 
    	
3. o
    	
 
    	
4. o
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
g.
    	
o
    	
Exclude   all post-severance compensation
    	
 
    	
1.   o
    	
 
    	
OR
    	
 
    	
2. o
    	
 
    	
3. o
    	
 
    	
4. o
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
h.
    	
o
    	
Exclude   post-severance regular pay
    	
 
    	
1.   o
    	
 
    	
OR
    	
 
    	
2. o
    	
 
    	
3. o
    	
 
    	
4. o
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
i.
    	
o
    	
Exclude   leave cashouts and deferred compensation
    	
 
    	
1.   o
    	
 
    	
OR
    	
 
    	
2. o
    	
 
    	
3. o
    	
 
    	
4. o
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
j.
    	
o
    	
Include   post-severance military continuation payments
    	
 
    	
1.   o
    	
 
    	
OR
    	
 
    	
2. o
    	
 
    	
3. o
    	
 
    	
4. o
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
k.
    	
o
    	
Include   post-severance disability continuation payments:
    	
 
    	
1.   o
    	
 
    	
OR
    	
 
    	
2. o
    	
 
    	
3. o
    	
 
    	
4. o
    	
 
    
	
 
    	
a.
    	
o
    	
For Nonhighly Compensated Employees only
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
b.
    	
o
    	
For   all participants and the salary continuation will continue for the following   fixed or determinable period:
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
l.
    	
x
    	
 
    	
Other   Exclude deferred compensation. (describe)
    

 

Plan Compensation Special Effective Date. The definition of Plan Compensation is modified as set forth herein effective as of the same date as the 415 Compensation change is effective unless otherwise specified:

m.                                                                                                            (enter the effective date)

 

ARTICLE III

FINAL SECTION 415 REGULATIONS

 

3.1        Effective date. The provisions of this Article III shall apply to limitation years beginning on and after July 1, 2007.

 

3.2         415 Compensation paid after severance from employment. 415 Compensation shall be adjusted, as set forth herein and as otherwise elected in Article II, for the following types of compensation paid after a Participant’s severance from employment with the Employer maintaining the Plan (or any other entity that is treated as the Employer pursuant to Code §414(b), (c), (m) or (o)). However, amounts described in subsections (a) and (b) below may only be included in 415 Compensation to the extent such amounts are paid by the later of 2 1/2 months after severance from employment or by the end of the limitation year that includes the date of such severance from employment. Any other payment of compensation paid after severance of employment that is not described in the following types of compensation is not considered 415 Compensation within the meaning of Code §415(c)(3), even if payment is made within the time period specified above.

 

(a)   Regular pay. 415 Compensation shall include regular pay after severance of employment if:

 

(1)          The payment is regular compensation for services during the participant’s regular working hours, or compensation for services outside the participant’s regular working hours (such as overtime or shift differential), commissions, bonuses, or other similar payments; and

 

(2)          The payment would have been paid to the participant prior to a severance from employment if the participant had continued in employment with the Employer.

 

2

 

(b)         Leave cashouts and deferred compensation. Leave cashouts shall be included in 415 Compensation, unless otherwise elected in Section 2.2 of this Amendment, if those amounts would have been included in the definition of 415 Compensation if they were paid prior to the participant’s severance from employment, and the amounts are payment for unused accrued bona fide sick, vacation, or other leave, but only if the participant would have been able to use the leave if employment had continued. In addition, deferred compensation shall be included in 415 Compensation, unless otherwise elected in Section 2.2 of this Amendment, if the compensation would have been included in the definition of 415 Compensation if it had been paid prior to the participant’s severance from employment, and the compensation is received pursuant to a nonqualified unfunded deferred compensation plan, but only if the payment would have been paid at the same time if the participant had continued in employment with the Employer and only to the extent that the payment is includible in the participant’s gross income.

 

(c)          Salary continuation payments for military service participants. 415 Compensation does not include, unless otherwise elected in Section 2.2 of this Amendment, payments to an individual who does not currently perform services for the Employer by reason of qualified military service (as that term is used in Code §414(u)(1)) to the extent those payments do not exceed the amounts the individual would have received if the individual had continued to perform services for the Employer rather than entering qualified military service.

 

(d)         Salary continuation payments for disabled Participants. Unless otherwise elected in Section 2.2 of this Amendment, 415 Compensation does not include compensation paid to a participant who is permanently and totally disabled (as defined in Code §22(e)(3)). If elected, this provision shall apply to either just non-highly compensated participants or to all participants for the period specified in Section 2.2 of this Amendment.

 

3.3         Administrative delay (“the first few weeks”) rule. 415 Compensation for a limitation year shall not include, unless otherwise elected in Section 2.2 of this Amendment, amounts earned but not paid during the limitation year solely because of the timing of pay periods and pay dates. However, if elected in Section 2.2 of this Amendment, 415 Compensation for a limitation year shall include amounts earned but not paid during the limitation year solely because of the timing of pay periods and pay dates, provided the amounts are paid during the first few weeks of the next limitation year, the amounts are included on a uniform and consistent basis with respect to all similarly situated participants, and no compensation is included in more than one limitation year.

 

3.4         Inclusion of certain nonqualified deferred compensation amounts. If the Plan’s definition of Compensation for purposes of Code §415 is the definition in Regulation Section 1.415(c)-2(b) (Regulation Section 1.415-2(d)(2) under the Regulations in effect for limitation years beginning prior to July 1, 2007) and the simplified compensation definition of Regulation 1.415(c)-2(d)(2) (Regulation Section 1.415-2(d)(10) under the Regulations in effect for limitation years prior to July 1, 2007) is not used, then 415 Compensation shall include amounts that are includible in the gross income of a Participant under the rules of Code §409A or Code §457(f)(1)(A) or because the amounts are constructively received by the Participant. [Note if the Plan’s definition of Compensation is W-2 wages or wages for withholding purposes, then these amounts are already included in Compensation.]

 

3.5   Definition of annual additions. The Plan’s definition of “annual additions” is modified as follows:

 

(a)          Restorative payments. Annual additions for purposes of Code §415 shall not include restorative payments. A restorative payment is a payment made to restore losses to a Plan resulting from actions by a fiduciary for which there is reasonable risk of liability for breach of a fiduciary duty under ERISA or under other applicable federal or state law, where participants who are similarly situated are treated similarly with respect to the payments. Generally, payments are restorative payments only if the payments are made in order to restore some or all of the plan’s losses due to an action (or a failure to act) that creates a reasonable risk of liability for such a breach of fiduciary duty (other than a breach of fiduciary duty arising from failure to remit contributions to the Plan). This includes payments to a plan made pursuant to a Department of Labor order, the Department of Labor’s Voluntary Fiduciary Correction Program, or a court-approved settlement, to restore losses to a qualified defined contribution plan on account of the breach of fiduciary duty (other than a breach of fiduciary duty arising from failure to remit contributions to the Plan). Payments made to the Plan to make up for losses due merely to market fluctuations and other payments that are not made on account of a reasonable risk of liability for breach of a fiduciary duty under ERISA are not restorative payments and generally constitute contributions that are considered annual additions.

 

(b)   Other Amounts. Annual additions for purposes of Code §415 shall not include: (1) The direct transfer of a benefit or employee contributions from a qualified plan to this Plan; (2) Rollover contributions (as described in Code §§401(a)(31), 402(c)(1), 403(a)(4), 403(b)(8), 408(d)(3), and 457(e)(16)); (3) Repayments of loans made to a participant from the Plan; and (4) Repayments of amounts described in Code §411(a)(7)(B) (in accordance with Code §411(a)(7)(C)) and Code §411(a)(3)(D) or repayment of contributions to a governmental plan (as defined in Code §414(d)) as described in Code §415(k)(3), as well as Employer restorations of benefits that are required pursuant to such repayments.

 

(c)          Date of tax-exempt Employer contributions. Notwithstanding anything in the Plan to the contrary, in the case of an Employer that is exempt from Federal income tax (including a governmental employer), Employer contributions are treated as credited to a participant’s account for a particular limitation year only if the contributions are actually made to the plan no later than the 15th day of the tenth calendar month following the end of the calendar year or fiscal year (as applicable, depending on the basis on which the employer keeps its books) with or within which the particular limitation year ends.

 

3

 

3.6         Change of limitation year. The limitation year may only be changed by a Plan amendment. Furthermore, if the Plan is terminated effective as of a date other than the last day of the Plan’s limitation year, then the Plan is treated as if the Plan had been amended to change its limitation year.

 

3.7         Excess Annual Additions. Notwithstanding any provision of the Plan to the contrary, if the annual additions (within the meaning of Code §415) are exceeded for any participant, then the Plan may only correct such excess in accordance with the Employee Plans Compliance Resolution System (EPCRS) as set forth in Revenue Procedure 2006-27 or any superseding guidance, including, but not limited to, the preamble of the final §415 regulations.

 

3.8         Aggregation and Disaggregation of Plans.

 

(a)          For purposes of applying the limitations of Code §415, all defined contribution plans (without regard to whether a plan has been terminated) ever maintained by the Employer (or a “predecessor employer”) under which the participant receives annual additions are treated as one defined contribution plan. The “Employer” means the Employer that adopts this Plan and all members of a controlled group or an affiliated service group that includes the Employer (within the meaning of Code §§414(b), (c), (m) or (o)), except that for purposes of this Section, the determination shall be made by applying Code §415(h), and shall take into account tax-exempt organizations under Regulation Section 1.414(c)-5, as modified by Regulation Section 1.415(a)-1(f)(1). For purposes of this Section:

 

(1)          A former Employer is a “predecessor employer” with respect to a participant in a plan maintained by an Employer if the Employer maintains a plan under which the participant had accrued a benefit while performing services for the former Employer, but only if that benefit is provided under the plan maintained by the Employer. For this purpose, the formerly affiliated plan rules in Regulation Section 1.415(f)-1(b)(2) apply as if the Employer and predecessor Employer constituted a single employer under the rules described in Regulation Section 1.415(a)-1(f)(1) and (2) immediately prior to the cessation of affiliation (and as if they constituted two, unrelated employers under the rules described in Regulation Section 1.415(a)-1(f)(1) and (2) immediately after the cessation of affiliation) and cessation of affiliation was the event that gives rise to the predecessor employer relationship, such as a transfer of benefits or plan sponsorship.

 

(2)          With respect to an Employer of a participant, a former entity that antedates the Employer is a “predecessor employer” with respect to the participant if, under the facts and circumstances, the Employer constitutes a continuation of all or a portion of the trade or business of the former entity.

 

(b)         Break-up of an affiliate employer or an affiliated service group. For purposes of aggregating plans for Code §415, a “formerly affiliated plan” of an employer is taken into account for purposes of applying the Code §415 limitations to the employer, but the formerly affiliated plan is treated as if it had terminated immediately prior to the “cessation of affiliation.” For purposes of this paragraph, a “formerly affiliated plan” of an employer is a plan that, immediately prior to the cessation of affiliation, was actually maintained by one or more of the entities that constitute the employer (as determined under the employer affiliation rules described in Regulation Section 1.415(a)-1(f)(1) and (2)), and immediately after the cessation of affiliation, is not actually maintained by any of the entities that constitute the employer (as determined under the employer affiliation rules described in Regulation Section 1.415(a)-1(f)(1) and (2)). For purposes of this paragraph, a “cessation of affiliation” means the event that causes an entity to no longer be aggregated with one or more other entities as a single employer under the employer affiliation rules described in Regulation Section 1.415(a)-1(f)(1) and (2) (such as the sale of a subsidiary outside a controlled group), or that causes a plan to not actually be maintained by any of the entities that constitute the employer under the employer affiliation rules of Regulation Section 1.415(a)-1(f)(1) and (2) (such as a transfer of plan sponsorship outside of a controlled group).

 

(c)          Midyear Aggregation. Two or more defined contribution plans that are not required to be aggregated pursuant to Code §415(f) and the Regulations thereunder as of the first day of a limitation year do not fail to satisfy the requirements of Code §415 with respect to a participant for the limitation year merely because they are aggregated later in that limitation year, provided that no annual additions are credited to the participant’s account after the date on which the plans are required to be aggregated.

 

ARTICLE IV

PLAN COMPENSATION

 

4.1         Compensation limit. Notwithstanding Amendment Section 4.2 or any election in Amendment Section 2.2, if the Plan is a 401(k) plan, then participants may not make elective deferrals with respect to amounts that are not 415 Compensation. However, for this purpose, 415 Compensation is not limited to the annual compensation limit of Code §401(a)(17).

 

4.2         Compensation paid after severance from employment. Compensation for purposes of allocations (hereinafter referred to as Plan Compensation) shall be adjusted, unless otherwise elected in Amendment Section 2.2, in the same manner as 415 Compensation pursuant to Article III of this Amendment if those amounts would have been included in Compensation if they were paid prior to the Participant’s severance from employment, except in applying Article III, the term “limitation year” shall be replaced with the term “plan year” and the term “415 Compensation” shall be replaced with the term “Plan Compensation.”

 

4

 

4.3         Option to apply Plan Compensation provisions early. The provisions of this Article shall apply for Plan Years beginning on and after July 1, 2007, unless another effective date is specified in Section 2.2 of this Amendment.

 

Except with respect to any election made by the employer in Section 2.2, this amendment is hereby adopted by the prototype sponsor on behalf of all adopting employers on:

 

[Sponsor’s signature and Adoption Date are on file with Sponsor]

 

Sponsor Name: Milliman, Inc.

 

NOTE: The Employer only needs to execute this Amendment if an election has been made in Section 2.2 of this Amendment.

 

This amendment has been executed this 28th day of April, 2011.

 

Name of Plan:  Simpson Manufacturing Co., Inc. 401(k) Profit Sharing Plan for Hourly Employees

 

Name of Employer:  Simpson Manufacturing Co., Inc

 

	
By:
    	
/s/   Karen Colonias
    	
 
    
	
 
    	
EMPLOYER
    	
 
    
				

 

5

 

PPD ADOPTION AGREEMENT

ADMINISTRATIVE CHECKLIST

  2011

 

This Administrative Checklist (“AC”) is not part of the Adoption Agreement or Plan but is for the use of the Plan Administrator in administering the Plan. Relius software also uses the AC and the following Supporting Forms Checklist (“SFC”) in preparing the Plan’s SPD and some administrative forms, such as the Loan Policy, if applicable.

 

The plan document preparer need not complete the AC but may find it useful to do so. The preparer may modify the AC, including adding items, without affecting reliance on the Plan’s opinion or advisory letter since the AC is not part of the approved Plan. Any change to this AC is not a Plan amendment and is not subject to any Plan provision or to Applicable Law regarding the timing or form of Plan amendments. However, the Plan Administrator’s administration of any AC item must be in accordance with applicable Plan terms and with Applicable Law.

 

The AC reflects the Plan policies and operation as of the date set forth above and may also reflect Plan policies and operation pre-dating the specified date.

 

AC1.   PLAN LOANS  (7.06). The Plan permits or does not permit Participant Loans as follows (Choose one of (a) or (b)):

(a)   x   Does not permit.

(b)   o    Permitted pursuant to the Loan Policy. See SFC Election 69 to complete Loan Policy.

 

AC2.   PARTICIPANT DIRECTION OF INVESTMENT  (7.03(B)). The Plan permits Participant direction of investment or does not permit Participant direction of investment as to some or all Accounts as follows (Choose one of (a) or (b)):

(a)   o    Does not permit. The Plan does not permit Participant direction of investment of any Account.

(b)   x   Permitted as follows. The Plan permits Participant direction of investment. (Complete (1) through (4)):

(1)          Accounts affected.  (Choose a. or choose one or more of b. through f.):

a.   x   All Accounts.

b.   o    Elective Deferral Accounts (Pre-tax and Roth) and Employee Contributions.

c.   o    All Nonelective Contribution Accounts.

d.   o    All Matching Contribution Accounts.

e.   o    All Rollover Contribution and Transfer Accounts.

f.    o    Specify Accounts:

(2)          Restrictions on Participant direction (Choose one of a. or b.):

a.          o    None. Provided the investment does not result in a prohibited transaction, give rise to UBTI, create administrative problems or violate the Plan terms or Applicable Law.

b.   o    Restrictions:

(3)          ERISA §404(c).  (Choose one of a. or b.):

a.   x   Applies.

b.   o    Does not apply.

(4)          QDIA (Qualified Default Investment Alternative).  (Choose one of a. or b.):

a.   x   Applies. See SFC Election 110 for details.

b.   o    Does not apply.

 

AC3.   ROLLOVER CONTRIBUTIONS  (3.08). The Plan permits or does not permit Rollover Contributions as follows (Choose one of (a) or (b)):

(a)   x   Does not permit.

(b)   o    Permits. Subject to approval by the Plan Administrator and as further described below (Complete (1) and (2)):

(1)          Who may roll over.  (Choose one of a. or b.):

a.          o    Participants only.

b.         o    Eligible Employees or Participants.

(2)          Sources/Types. The Plan will accept a Rollover Contribution (Choose one of a. or b.):

a.          o    All. From any Eligible Retirement Plan and as to all Contribution Types eligible to be rolled into this Plan.

b.         o    Limited. Only from the following types of Eligible Retirement Plans and/or as to the following Contribution Types:                                                                                                                     .

 

AC4.   PLAN EXPENSES  (7.04(C)). The Employer will pay or the Plan will be charged with non-settlor Plan expenses as follows (Choose one of (a) or (b)):

(a)          o    Employer pays all expenses except those intrinsic to Trust assets which the Plan will pay (e.g., brokerage commissions).

(b)   x   Plan pays some or all non-settlor expenses. See SFC Election 126 for details.

 

1

 

AC5.   RELATED AND PARTICIPATING EMPLOYERS  (1.23(C)/(D)). There are or are not Related Employers and Participating Employers as follows (Complete (a) through (c)):

(a)   Related Employers.  (Choose one of (1) or (2)):

(1)   o    None.

(2)   x   Name(s) of Related Employers:  Simpson Strong-Tie Company, Inc.

(b)   Participating (Related) Employers.  (Choose one of (1) or (2)):

(1)   o    None.

(2)          x   Name(s) of Participating Employers:  Simpson Strong-Tie Company, Inc. See SFC Election 71 for details.

(c)   Former Participating Employers.  (Choose one of (1) or (2)):

(1)   o    None.

(2)   x   Applies.

 

	
Name(s)
    	
 
    	
Date of cessation
    
	
Simpson   Dura-Vent Company, Inc
    	
 
    	
September 2010
    

 

AC6.   TOP-HEAVY MINIMUM-MULTIPLE PLANS  (10.03). If the Employer maintains another plan, this Plan provides that the Plan Administrator operationally will determine in which plan the Employer will satisfy the Top-Heavy Minimum Contribution (or benefit) requirement as to Non-Key Employees who participate in such plans and who are entitled to a Top-Heavy Minimum Contribution (or benefit). This Election documents the Plan Administrator’s operational election. (Choose (a) or choose one of (b) or (c)):

(a)   o    Does not apply.

(b)   x   If only another Defined Contribution Plan. Make the Top-Heavy Minimum Allocation (Choose one of (1) or (2)):

(1)          x   To this Plan.

(2)          o    To another Defined Contribution Plan:                                                                                           (plan name)

(c)          o    If one or more Defined Benefit Plans. Make the Top-Heavy Minimum Allocation or provide the top-heavy minimum benefit (Choose one of (1), (2), or (3)):

(1)          o    To this Plan. Increase the Top-Heavy Minimum Allocation to 5%.

(2)          o    To another Defined Contribution Plan. Increase the Top-Heavy Minimum Allocation to 5% and provide under the:                                                                                                        (name of other Defined Contribution Plan).

(3)          o    To a Defined Benefit Plan. Provide the 2% top-heavy minimum benefit under the:                              (name of Defined Benefit Plan) and applying the following interest rate and mortality assumptions:                             .

 

AC7.   SELF-EMPLOYED PARTICIPANTS  (1.21(A)). One or more self-employed Participants with Earned Income benefits in the Plan as follows (Choose one of (a) or (b)):

(a)   x   None.

(b)   o    Applies.

 

AC8.   PROTECTED BENEFITS  (11.02(C)). The following Protected Benefits no longer apply to all Participants or do not apply to designated amounts/Participants as indicated, having been eliminated by a Plan amendment (Choose one of (a) or (b)):

(a)   x   Does not apply. No Protected Benefits have been eliminated.

(b)         o    Applies. Protected Benefits have been eliminated as follows (Choose one or more of rows (1) through (4) as applicable. Choose one of columns (1), (2), or (3), and complete column (4)):

 

	
 
    	
 
    	
(1)
   All
   Participants/
   Accounts
    	
 
    	
(2)
   Post-E.D.
   Contribution
   Accounts only
    	
 
    	
(3)
   Post-E.D.
   Participants
   only
    	
 
    	
(4)
   Effective
   Date
   (E.D.)
    
	
(1)    o  QJSA/QPSA distributions
    	
 
    	
o
    	
 
    	
o
    	
 
    	
o
    	
 
    	
 
    
	
(2)    o  Installment distributions
    	
 
    	
o
    	
 
    	
o
    	
 
    	
o
    	
 
    	
 
    
	
(3)    o  In-kind distributions
    	
 
    	
o
    	
 
    	
o
    	
 
    	
o
    	
 
    	
 
    
	
(4)  o  Specify:                                                                                                                                                                   
    

 

AC9.   LIFE INSURANCE  (9.01). The Trust invests or does not invest in life insurance Contracts as follows (Choose one of (a) or (b)):

(a)   x   Does not apply.

(b)   o    Applies. Subject to the limitations and other provisions in Article IX and/or Appendix B.

 

AC10. DISTRIBUTION OF CASH OR PROPERTY  (8.04). The Plan provides for distribution in the form of (Choose one of (a) or (b)):

(a)   x   Cash only. Except where property distribution is required or permitted under Section 8.04.

(b)   o    Cash or property. At the distributee’s election and consistent with any Plan Administrator policy under Section 8.04.

 

AC11. EMPLOYER SECURITIES/EMPLOYER REAL PROPERTY  (8.02(A)(13)). The Trust invests or does not invest in qualifying Employer securities and/or qualifying Employer real property as follows (Choose one of (a) or (b)):

(a)   o    Does not apply.

(b)   x   Applies. Such investments are subject to the limitations of Section 8.02(A)(13) and/or Appendix B.

 

2

 

AMENDMENT FOR PENSION PROTECTION ACT AND HEART ACT

 

ARTICLE I

PREAMBLE

 

1.1                    Effective date of Amendment. The Employer adopts this Amendment to the Plan to reflect recent law changes. This Amendment is effective as indicated below for the respective provisions.

 

1.2                    Superseding of inconsistent provisions. This Amendment supersedes the provisions of the Plan to the extent those provisions are inconsistent with the provisions of this Amendment.

 

1.3                    Employer’s election. The Employer adopts all the default provisions of this Amendment except as otherwise elected in Article II.

 

1.4                    Construction. Except as otherwise provided in this Amendment, any reference to “Section” in this Amendment refers only to sections within this Amendment, and is not a reference to the Plan. The Article and Section numbering in this Amendment is solely for purposes of this Amendment, and does not relate to any Plan article, section or other numbering designations.

 

1.5                    Effect of restatement of Plan. If the Employer restates the Plan, then this Amendment shall remain in effect after such restatement unless the provisions in this Amendment are restated or otherwise become obsolete (e.g., if the Plan is restated onto a plan document which incorporates PPA provisions).

 

ARTICLE II

EMPLOYER ELECTIONS

 

The Employer only needs to complete the questions in Sections 2.2 through 2.7 below in order to override the default provisions set forth below. If the Plan will use all of the default provisions, then these questions should be skipped.

 

2.1                    Default Provisions. Unless the Employer elects otherwise in this Article, the following defaults will apply:

 

a.               If the Plan has a vesting schedule for nonelective contributions that does not meet the Pension Protection Act of 2006 (PPA), then the vesting schedule for any Employer nonelective contributions for Participants who complete an Hour of Service in a Plan Year beginning after December 31, 2006, will be the schedule below. Such schedule will apply to all nonelective contributions, even those made prior to January 1, 2007.

 

If the Plan has a graded vesting schedule (i.e., the vesting schedule includes a vested percentage that is more than 0% and less than 100%), then the vesting schedule will be a 6-year graded schedule (20% after 2 years of vesting service and an additional 20% for each year thereafter).

 

If the Plan has a cliff vesting schedule that requires more than 3 years of vesting service, then nonelective contributions will be nonforfeitable upon the completion of 3 years of vesting service.

 

b.              Nonspousal beneficiary rollovers are allowed effective for distributions made after 12/31/06.

 

c.              Hardship distributions for expenses of a beneficiary are allowed effective as of Plan Years beginning on or after January 1, 2011.

 

d.              The option to permit in-service distributions at age 62 (with respect to amounts attributable to a money purchase pension plan, target benefit plan, or any other defined contribution plan that has received a transfer of assets from a pension plan) is not adopted.

 

e.              Qualified Reservist Distributions are not allowed.

 

f.                Continued benefit accruals pursuant to the Heroes Earnings Assistance and Relief Tax Act of 2008 (HEART Act) are not provided.

 

1

 

2.2                   Vesting (Article III). The default vesting schedule applies unless a. is elected below.

a.               o                        In lieu of the above default vesting provisions, the employer elects the following schedule:

1.               o                       3 year cliff (a Participant’s accrued benefit derived from employer nonelective contributions is nonforfeitable upon the Participant’s completion of three years of vesting service).

2.               o                       6 year graded schedule (20% after 2 years of vesting service and an additional 20% for each year thereafter).

3.               o                       Other (must be at least as liberal as 1. or 2. above at each point in time):

 

	
Years of vesting service
    	
 
    	
Nonforfeitable percentage
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
%
    
	
 
    	
 
    	
 
    	
%
    
	
 
    	
 
    	
 
    	
%
    
	
 
    	
 
    	
 
    	
%
    
	
 
    	
 
    	
 
    	
%
    

 

The vesting schedule set forth herein only applies to Participants who complete an Hour of Service in a Plan Year beginning after December 31, 2006, and, unless b. is elected below, applies to all nonelective contributions subject to a vesting schedule.

b.              o                        The vesting schedule will only apply to nonelective contributions made in Plan Years beginning after December 31, 2006 (the prior schedule will apply to nonelective contributions made in prior Plan Years).

 

2.3                   Non-spousal rollovers (Article VII). Non-spousal rollovers are allowed after December 31, 2006 unless a. is elected below (Article VII provides that such distributions are always allowed after December 31, 2009):

a.               o                        Use the following instead of the default (select one):

1.               o                       Non-spousal rollovers are not allowed.

2.               o                       Non-spousal rollovers are allowed effective          (not earlier than January 1, 2007 and not later than January 1, 2010).

 

2.4                   Hardships (Article VIII). Hardship distributions for expenses of beneficiaries will be allowed effective as of August 17, 2006, unless elected below (applies only for 401(k) or profit sharing plans that allow hardship distributions):

a.               x                      Use the following instead of the default (select one):

1.               o                       Hardship distributions for beneficiary expenses are not allowed.

2.               x                     Hardship distributions for beneficiary expenses are allowed effective as of Plan years beginning on or after January 1, 2011 (may not be earlier than August 17, 2006).

 

2.5                   In-service distributions (Article IX). In-service distributions at age 62 will not be allowed (except as otherwise permitted under the Plan without regard to this Amendment) unless elected below:

a.               o                        In-service distributions will be allowed for Participants at age 62 (generally applies only for money purchase (including target benefit) plans, but may apply to any other defined contribution plans that have received a transfer of assets from a pension plan) effective as of the first day of the 2007 Plan Year unless another date is elected below:

1.               o                                                  (may not be earlier than the first day of the 2007 Plan Year).

 

AND, the following limitations apply to in-service distributions:

2.               o                       The Plan already provides for in-service distributions and the restrictions set forth in the Plan (e.g., minimum amount of distributions or frequency of distributions) are applicable to in-service distributions at age 62.

3.               o                       N/A. No limitations.

4.               o                       The following elections apply to in-service distributions at age 62 (select all that apply):

a.               o            The minimum amount of a distribution is $        (may not exceed $1,000).

b.              o            No more than           distribution(s) may be made to a Participant during a Plan Year.

c.               o            Distributions may only be made from accounts which are fully Vested.

d.              o            In-service distributions may be made subject to the following provisions:          (must be definitely determinable and not subject to discretion).

 

2.6                   Qualified Reservist Distributions (Article X). Qualified Reservist distributions will not be allowed unless elected below:

a.               o                        Qualified Reservist Distributions are allowed effective as of        (may not be earlier than September 12, 2001).

 

2.7                   Continued benefit accruals (Article XV). Continued benefit accruals for the Heart Act (Amendment Section 15.2) will not apply unless elected below:

a.               o                        The provisions of Amendment Section 15.2 apply.

 

2

 

ARTICLE III

NONELECTIVE CONTRIBUTION VESTING

 

3.1                    Applicability. This Article applies to Participants who complete an Hour of Service in a Plan Year beginning after December 31, 2006, with respect to accrued benefits derived from employer nonelective contributions made in Plan Years beginning after December 31, 2006. Unless otherwise elected by the employer in Amendment Section 2.2 above, this Article also will apply to all nonelective contributions subject to a vesting schedule, including nonelective contributions allocated under the Plan terms as of a date in a Plan Year beginning before January 1, 2007.

 

3.2                    Vesting schedule. A Participant’s accrued benefit derived from employer nonelective contributions vests as provided in Amendment Section 2.1.a, or if applicable, Amendment Section 2.2.

 

ARTICLE IV

PARTICIPANT DISTRIBUTION NOTIFICATION

 

4.1                    180-day notification period. For any distribution notice issued in Plan Years beginning after December 31, 2006, any reference to the 90-day maximum notice period prior to distribution in applying the notice requirements of Code §§402(f) (the rollover notice), 411(a)(11) (Participant’s consent to distribution), and 417 (notice under the joint and survivor annuity rules) will become 180 days.

 

4.2                    Notice of right to defer distribution. For any distribution notice issued in Plan Years beginning after December 31, 2006, the description of a Participant’s right, if any, to defer receipt of a distribution also will describe the consequences of failing to defer receipt of the distribution. For notices issued before the 90th day after the issuance of Treasury regulations (unless future Revenue Service guidance otherwise requires), the notice will include: (i) a description indicating the investment options available under the Plan (including fees) that will be available if the Participant defers distribution; and (ii) the portion of the summary plan description that contains any special rules that might affect materially a Participant’s decision to defer.

 

ARTICLE V

ROLLOVER OF AFTER-TAX/ROTH AMOUNTS

 

5.1                    Direct rollover to qualified plan/403(b) plan. For taxable years beginning after December 31, 2006, a Participant may elect to transfer employee (after-tax) or Roth elective deferral contributions by means of a direct rollover to a qualified plan or to a 403(b) plan that agrees to account separately for amounts so transferred, including accounting separately for the portion of such distribution which is includible in gross income and the portion of such distribution which is not includible in gross income.

 

ARTICLE VI

DIVESTMENT OF EMPLOYER SECURITIES

 

6.1                    Rule applicable to elective deferrals and employee contributions. For Plan Years beginning after December 31, 2006, if any portion of the account of a Participant (including, for purposes of this Article VI, a beneficiary entitled to exercise the rights of a Participant) attributable to elective deferrals or employee contributions is invested in publicly-traded Employer securities, the Participant may elect to direct the Plan to divest any such securities, and to reinvest an equivalent amount in other investment options which satisfy the requirements of Section 6.3.

 

6.2                   Rule applicable to Employer contributions. If any portion of a Participant’s account attributable to nonelective or matching contributions is invested in publicly-traded Employer securities, then a Participant who has completed at least 3 years of vesting service, or a beneficiary of any deceased Participant entitled to exercise the right of a Participant, may elect to direct the Plan to divest any such securities, and to reinvest an equivalent amount in other investment options which satisfy the requirements of Section 6.3.

 

a.               Three-year phase-in applicable to Employer contributions. For Employer securities acquired with nonelective or matching contributions during a Plan Year beginning before January 1, 2007, the rule described in this Section 6.2 only applies to the percentage of the Employer securities (applied separately for each class of securities) as follows:

 

	
Plan Year
    	
 
    	
Percentage
    	
 
    
	
2007
    	
 
    	
33
    	
 
    
	
2008
    	
 
    	
66
    	
 
    
	
2009
    	
 
    	
100
    	
 
    

 

b.               Exception to phase-in for certain age 55 Participants. The 3-year phase-in rule of Section 6.2.a does not apply to a Participant who has attained age 55 and who has completed at least 3 years of service before the first Plan Year beginning after December 31, 2005.

 

3

 

6.3                    Investment options. For purposes of this Article VI, other investment options must include not less than 3 investment options, other than Employer securities, to which the Participant may direct the proceeds of divestment of Employer securities required by this Article VI, each of which options is diversified and has materially different risk and return characteristics. The Plan must provide reasonable divestment and reinvestment opportunities at least quarterly. Except as provided in regulations, the Plan may not impose restrictions or conditions on the investment of Employer securities which the Plan does not impose on the investment of other Plan assets, other than restrictions or conditions imposed by reason of the application of securities laws or a condition permitted under IRS Notice 2006-107 or other applicable guidance.

 

6.4                    Exceptions for certain plans. This Article VI does not apply to a one-participant plan, as defined in Code §401(a)(35)(E)(iv), or to an employee stock ownership plan (“ESOP”) if: (i) there are no contributions to the ESOP (or related earnings) attributable to elective deferrals or matching contributions; and (ii) the ESOP is a separate plan, for purposes of Code §414(l), from any other defined benefit plan or defined contribution plan maintained by the same employer or employers.

 

6.5                    Treatment as publicly traded Employer securities. Except as provided in Treasury regulations or in Code §401(a)(35)(F)(ii) (relating to certain controlled groups), a plan holding Employer securities which are not publicly traded Employer securities is treated as holding publicly traded Employer securities if any Employer corporation, or any member of a controlled group of corporations which includes such Employer corporation (as defined in Code §401(a)(35)(F)(iii)) has issued a class of stock which is a publicly traded Employer security.

 

ARTICLE VII

DIRECT ROLLOVER OF NON-SPOUSAL DISTRIBUTION

 

7.1                    Non-spouse beneficiary rollover right. For distributions after December 31, 2009, and unless otherwise elected in Section 2.3 of this Amendment, for distributions after December 31, 2006, a non-spouse beneficiary who is a “designated beneficiary” under Code §401(a)(9)(E) and the regulations thereunder, by a direct trustee-to-trustee transfer (“direct rollover”), may roll over all or any portion of his or her distribution to an individual retirement account the beneficiary establishes for purposes of receiving the distribution. In order to be able to roll over the distribution, the distribution otherwise must satisfy the definition of an eligible rollover distribution.

 

7.2                    Certain requirements not applicable. Although a non-spouse beneficiary may roll over directly a distribution as provided in Section 7.1, any distribution made prior to January 1, 2010 is not subject to the direct rollover requirements of Code §401(a)(31) (including Code §401(a)(31)(B), the notice requirements of Code §402(f) or the mandatory withholding requirements of Code §3405(c)). If a non-spouse beneficiary receives a distribution from the Plan, the distribution is not eligible for a “60-day” rollover.

 

7.3                    Trust beneficiary. If the Participant’s named beneficiary is a trust, the Plan may make a direct rollover to an individual retirement account on behalf of the trust, provided the trust satisfies the requirements to be a designated beneficiary within the meaning of Code §401(a)(9)(E).

 

7.4                   Required minimum distributions not eligible for rollover. A non-spouse beneficiary may not roll over an amount which is a required minimum distribution, as determined under applicable Treasury regulations and other Revenue Service guidance. If the Participant dies before his or her required beginning date and the non-spouse beneficiary rolls over to an IRA the maximum amount eligible for rollover, the beneficiary may elect to use either the 5-year rule or the life expectancy rule, pursuant to Treas. Reg. §1.401(a)(9)-3, A-4(c), in determining the required minimum distributions from the IRA that receives the non-spouse beneficiary’s distribution.

 

ARTICLE VIII

DISTRIBUTION BASED ON BENEFICIARY HARDSHIP

 

8.1                    Beneficiary-based distribution. Unless otherwise elected in Amendment Section 2.4, then effective as of August 17, 2006, a Participant’s hardship event, for purposes of the Plan’s safe harbor hardship distribution provisions pursuant to Treas. Reg. §1.401(k)-1(d)(3)(iii)(B), includes an immediate and heavy financial need of the Participant’s primary beneficiary under the Plan, that would constitute a hardship event if it occurred with respect to the Participant’s spouse or dependent as defined under Code §152 (such hardship events being limited to educational expenses, funeral expenses and certain medical expenses). For purposes of this Article, a Participant’s “primary beneficiary under the Plan” is an individual who is named as a beneficiary under the Plan and has an unconditional right to all or a portion of the Participant’s account balance under the Plan upon the Participant’s death.

 

ARTICLE IX

IN-SERVICE PENSION DISTRIBUTIONS

 

9.1                    Age 62 distributions. If elected in Amendment Section 2.5.a, then beginning as of the date specified in such Section, if the Plan is a money purchase pension plan, a target benefit plan, or any other defined contribution plan that has received a transfer of assets from a pension plan, a Participant who has attained age 62 and who has not separated from employment may elect to receive a distribution of his or her vested account balance (or in case of a transferee plan, of the transferred account balance).

 

4

 

ARTICLE X

QUALIFIED RESERVIST DISTRIBUTION

 

10.1              401(k) distribution restrictions. If elected in Amendment Section 2.6, then effective as of the date specified in such Section,  the Plan permits a Participant to elect a Qualified Reservist Distribution, as defined in this Article X.

 

10.2              Qualified Reservist Distribution defined. A “Qualified Reservist Distribution” is any distribution to an individual who is ordered or called to active duty after September 11, 2001, if: (i) the distribution is from amounts attributable to elective deferrals in a 401(k) plan; (ii) the individual was (by reason of being a member of a reserve component, as defined in section 101 of title 37, United States Code) ordered or called to active duty for a period in excess of 179 days or for an indefinite period; and (iii) the Plan makes the distribution during the period beginning on the date of such order or call, and ending at the close of the active duty period.

 

ARTICLE XI

OTHER 401(k)/401(m) PLAN PROVISIONS

 

11.1              Gap period income on distributed excess contributions and excess aggregate contributions. This Section applies to excess contributions (as defined in Code §401(k)(8)(B)) and excess aggregate contributions (as defined in Code §401(m)(6)(B)) made with respect to Plan Years beginning after December 31, 2007. The Plan administrator will not calculate and distribute allocable income for the gap period (i.e., the period after the close of the Plan Year in which the excess contribution or excess aggregate contribution occurred and prior to the distribution).

 

11.2              Gap period income on distributed excess deferrals. With respect to 401(k) plan excess deferrals (as defined in Code §402(g)) made in taxable year 2007, the Plan administrator must calculate allocable income for the taxable year and also for the gap period (i.e., the period after the close of the taxable year in which the excess deferral occurred and prior to the distribution); provided that the Plan administrator will calculate and distribute the gap period allocable income only if the Plan administrator in accordance with the Plan terms otherwise would allocate the gap period allocable income to the Participant’s account. With respect to 401(k) plan excess deferrals made in taxable years after 2007, gap period income may not be distributed.

 

11.3              Plan termination distribution availability. For purposes of determining whether the Employer maintains an alternative defined contribution plan (described in Treas. Reg. §1.401(k)-1(d)(4)(i)) that would prevent the Employer from distributing elective deferrals (and other amounts, such as QNECs, that are subject to the distribution restrictions that apply to elective deferrals) from a terminating 401(k) plan, an alternative defined contribution plan does not include an employee stock ownership plan defined in Code §§4975(e)(7) or 409(a), a simplified employee pension as defined in Code §408(k), a SIMPLE IRA plan as defined in Code §408(p), a plan or contract that satisfies the requirements of Code §403(b), or a plan that is described in Code §§457(b) or (f).

 

ARTICLE XII

QUALIFIED OPTIONAL SURVIVOR ANNUITY

 

12.1              Right to Elect Qualified Optional Survivor Annuity. Effective with respect to Plan Years beginning after December 31, 2007, a participant who elects to waive the qualified joint and survivor annuity form of benefit, if offered under the Plan, is entitled to elect the “qualified optional survivor annuity” at any time during the applicable election period. Furthermore, the written explanation of the joint and survivor annuity shall explain the terms and conditions of the “qualified optional survivor annuity.”

 

12.2             Definition of Qualified Optional Survivor Annuity.

 

a.               General. For purposes of this Article, the term “qualified optional survivor annuity” means an annuity:

 

(1)          For the life of the participant with a survivor annuity for the life of the spouse which is equal to the “applicable percentage” of the amount of the annuity which is payable during the joint lives of the Participant and the spouse, and

 

(2)          Which is the actuarial equivalent of a single annuity for the life of the participant.

 

Such term also includes any annuity in a form having the effect of an annuity described in the preceding sentence.

 

b.               Applicable percentage. For purposes of this Section, the “applicable percentage” is based on the survivor annuity percentage (i.e., the percentage which the survivor annuity under the Plan’s qualified joint and survivor annuity bears to the annuity payable during the joint lives of the participant and the spouse). If the survivor annuity percentage is less than 75 percent, then the “applicable percentage” is 75 percent; otherwise, the “applicable percentage” is 50 percent.

 

5

 

ARTICLE XIII

DIRECT ROLLOVER TO ROTH IRA

 

13.1              Roth IRA rollover. For distributions made after December 31, 2007, a participant may elect to roll over directly an eligible rollover distribution to a Roth IRA described in Code §408A(b).

 

ARTICLE XIV

QUALIFIED DOMESTIC RELATIONS ORDERS

 

14.1              Permissible QDROs. Effective April 6, 2007, a domestic relations order that otherwise satisfies the requirements for a qualified domestic relations order (“QDRO”) will not fail to be a QDRO: (i) solely because the order is issued after, or revises, another domestic relations order or QDRO; or (ii) solely because of the time at which the order is issued, including issuance after the annuity starting date or after the Participant’s death.

 

14.2              Other QDRO requirements apply. A domestic relations order described in Section 14.1 is subject to the same requirements and protections that apply to QDROs.

 

ARTICLE XV

HEART ACT PROVISIONS

 

15.1              Death benefits. In the case of a death occurring on or after January 1, 2007, if a Participant dies while performing qualified military service (as defined in Code §414(u)), the survivors of the Participant are entitled to any additional benefits (other than benefit accruals relating to the period of qualified military service) provided under the Plan as if the Participant had resumed and then terminated employment on account of death.

 

15.2              Benefit accrual. If the Employer elects in Amendment Section 2.7 to apply this Section 15.2, then for benefit accrual purposes, the Plan treats an individual who dies or becomes disabled on or after January 1, 2007 (as defined under the terms of the Plan) while performing qualified military service with respect to the Employer as if the individual had resumed employment in accordance with the individual’s reemployment rights under USERRA, on the day preceding death or disability (as the case may be) and terminated employment on the actual date of death or disability.

 

a.               Determination of benefits. The Plan will determine the amount of employee contributions and the amount of elective deferrals of an individual treated as reemployed under this Section 15.2 for purposes of applying paragraph Code §414(u)(8)(C) on the basis of the individual’s average actual employee contributions or elective deferrals for the lesser of: (i) the 12-month period of service with the Employer immediately prior to qualified military service; or (ii) if service with the Employer is less than such 12-month period, the actual length of continuous service with the Employer.

 

15.3              Differential wage payments. For years beginning after December 31, 2008, (i) an individual receiving a differential wage payment, as defined by Code §3401(h)(2), is treated as an employee of the employer making the payment, (ii) the differential wage payment is treated as compensation, and (iii) the Plan is not treated as failing to meet the requirements of any provision described in Code §414(u)(1)(C) by reason of any contribution or benefit which is based on the differential wage payment.

 

15.4              Severance from employment. Notwithstanding Section 15.3(i), for purposes of Code §401(k)(2)(B)(i)(I), an individual is treated as having been severed from employment during any period the individual is performing service in the uniformed services described in Code §3401(h)(2)(A).

 

a.               Suspension of deferrals. If an individual elects to receive a distribution by reason of severance from employment, death or disability, the individual may not make an elective deferral or employee contribution during the 6-month period beginning on the date of the distribution.

 

b.               Nondiscrimination requirement. Section 15.3(iii) applies only if all employees of the Employer performing service in the uniformed services described in Code §3401(h)(2)(A) are entitled to receive differential wage payments (as defined in Code §3401(h)(2)) on reasonably equivalent terms and, if eligible to participate in a retirement plan maintained by the employer, to make contributions based on the payments on reasonably equivalent terms (taking into account Code §§410(b)(3), (4), and (5)).

 

* * * * * * *

 

6

 

This Amendment has been executed this 28th day of April, 2011.

 

Name of Plan: Simpson Manufacturing Co., Inc. 401(k) Profit Sharing Plan for Hourly Employees

 

Name of Employer: Simpson Manufacturing Co., Inc

 

	
By:
    	
/s/   Karen Colonias
    	
 
    
	
 
    	
EMPLOYER
    	
 
    
				

 

7Exhibit 10.1

 

 

FIRST FEDERAL BANCSHARES OF ARKANSAS, INC.

2011 OMNIBUS INCENTIVE PLAN.

 

 

 

Table of Contents

 

	
 
    	
 
    	
Page
    
	
 
    	
 
    	
 
    
	
ARTICLE 1.
    	
ESTABLISHMENT,   OBJECTIVES, AND DURATION
    	
1
    
	
1.1
    	
Establishment   of the Plan
    	
1
    
	
1.2
    	
Objectives   of the Plan
    	
1
    
	
1.3
    	
Duration   of the Plan
    	
1
    
	
 
    	
 
    	
 
    
	
ARTICLE 2.
    	
DEFINITIONS
    	
1
    
	
2.1
    	
“Award”
    	
1
    
	
2.2
    	
“Award   Agreement”
    	
1
    
	
2.3
    	
“Beneficial   Ownership”
    	
2
    
	
2.4
    	
“Board”
    	
2
    
	
2.5
    	
“Change   in Control”
    	
2
    
	
2.6
    	
“Code”
    	
3
    
	
2.7
    	
“Committee”
    	
3
    
	
2.8
    	
“Company”
    	
3
    
	
2.9
    	
“Consultant”
    	
3
    
	
2.10
    	
“Director”
    	
3
    
	
2.11
    	
“Dividend   Equivalent”
    	
3
    
	
2.12
    	
“Effective   Date”
    	
3
    
	
2.13
    	
“Employee”
    	
3
    
	
2.14
    	
“Exchange   Act”
    	
3
    
	
2.15
    	
“Exercise   Price”
    	
3
    
	
2.16
    	
“Fair   Market Value”
    	
4
    
	
2.17
    	
“Freestanding   SAR”
    	
4
    
	
2.18
    	
“Incentive   Stock Option” or “ISO”
    	
4
    
	
2.19
    	
“Investment   Agreement
    	
4
    
	
2.20
    	
“Nonqualified   Stock Option” or “NQSO”
    	
4
    
	
2.21
    	
“Option”
    	
4
    
	
2.22
    	
“Other   Award”
    	
4
    
	
2.23
    	
“Participant”
    	
4
    
	
2.24
    	
“Performance-Based   Exception”
    	
4
    
	
2.25
    	
“Performance   Period”
    	
4
    
	
2.26
    	
“Performance   Share”
    	
4
    
	
2.27
    	
“Performance   Unit”
    	
4
    
	
2.28
    	
“Period   of Restriction”
    	
4
    
	
2.29
    	
“Person”
    	
4
    
	
2.30
    	
“Replacement   Awards”
    	
5
    
	
2.31
    	
“Restricted   Stock”
    	
5
    
	
2.32
    	
“Restricted   Stock Unit”
    	
5
    
	
2.33
    	
“Share”
    	
5
    
	
2.34
    	
“Stock   Appreciation Right” or “SAR”
    	
5
    
	
2.35
    	
“Subsidiary”
    	
5
    
	
2.36
    	
“Tandem   SAR”
    	
5
    

 

i

 

	
ARTICLE 3.
    	
ADMINISTRATION
    	
5
    
	
3.1
    	
The   Committee
    	
5
    
	
3.2
    	
Authority   of the Committee
    	
5
    
	
3.3
    	
Decisions   Binding
    	
6
    
	
 
    	
 
    	
 
    
	
ARTICLE 4.
    	
SHARES   SUBJECT TO THE PLAN; INDIVIDUAL LIMITS; AND ANTI-DILUTION ADJUSTMENTS
    	
6
    
	
4.1
    	
Number   of Shares Available for Grants
    	
6
    
	
4.2
    	
Individual   Limits
    	
7
    
	
4.3
    	
Adjustments   in Authorized Shares and Awards
    	
7
    
	
 
    	
 
    	
 
    
	
ARTICLE 5.
    	
ELIGIBILITY   AND PARTICIPATION
    	
8
    
	
5.1
    	
Eligibility
    	
8
    
	
5.2
    	
Actual   Participation
    	
8
    
	
 
    	
 
    	
 
    
	
ARTICLE 6.
    	
OPTIONS
    	
8
    
	
6.1
    	
Grant   of Options
    	
8
    
	
6.2
    	
Award   Agreement
    	
8
    
	
6.3
    	
Exercise   Price
    	
8
    
	
6.4
    	
Duration   of Options
    	
8
    
	
6.5
    	
Exercise   of Options
    	
8
    
	
6.6
    	
Payment
    	
9
    
	
6.7
    	
Restrictions   on Share Transferability
    	
9
    
	
6.8
    	
Dividend   Equivalents
    	
9
    
	
6.9
    	
Termination   of Employment or Service
    	
9
    
	
6.10
    	
Nontransferability   of Options
    	
9
    
	
 
    	
 
    	
 
    
	
ARTICLE 7.
    	
STOCK   APPRECIATION RIGHTS
    	
10
    
	
7.1
    	
Grant   of SARs
    	
10
    
	
7.2
    	
Exercise   of Tandem SARs
    	
10
    
	
7.3
    	
Exercise   of Freestanding SARs
    	
10
    
	
7.4
    	
Award   Agreement
    	
10
    
	
7.5
    	
Term   of SARs
    	
10
    
	
7.6
    	
Payment   of SAR Amount
    	
11
    
	
7.7
    	
Dividend   Equivalents
    	
11
    
	
7.8
    	
Termination   of Employment or Service
    	
11
    
	
7.9
    	
Nontransferability   of SARs
    	
11
    
	
 
    	
 
    	
 
    
	
ARTICLE 8.
    	
RESTRICTED   STOCK
    	
11
    
	
8.1
    	
Grant   of Restricted Stock
    	
11
    
	
8.2
    	
Award   Agreement
    	
11
    
	
8.3
    	
Other   Restrictions
    	
11
    
	
8.4
    	
Removal   of Restrictions
    	
12
    
	
8.5
    	
Voting   Rights
    	
12
    
	
8.6
    	
Dividends   and Other Distributions
    	
12
    
	
8.7
    	
Termination   of Employment or Service
    	
12
    

 

ii

 

	
8.8
    	
Nontransferability   of Restricted Stock
    	
12
    
	
 
    	
 
    	
 
    
	
ARTICLE 9.
    	
RESTRICTED   STOCK UNITS AND PERFORMANCE SHARES
    	
12
    
	
9.1
    	
Grant   of Restricted Stock Units/Performance Shares
    	
12
    
	
9.2
    	
Award   Agreement
    	
13
    
	
9.3
    	
Form and   Timing of Payment
    	
13
    
	
9.4
    	
Voting   Rights
    	
13
    
	
9.5
    	
Dividend   Equivalents
    	
13
    
	
9.6
    	
Termination   of Employment or Service
    	
13
    
	
9.7
    	
Nontransferability
    	
13
    
	
 
    	
 
    	
 
    
	
ARTICLE 10.
    	
PERFORMANCE   UNITS
    	
14
    
	
10.1
    	
Grant   of Performance Units
    	
14
    
	
10.2
    	
Award   Agreement
    	
14
    
	
10.3
    	
Value   of Performance Units
    	
14
    
	
10.4
    	
Form and   Timing of Payment
    	
14
    
	
10.5
    	
Dividend   Equivalents
    	
14
    
	
10.6
    	
Termination   of Employment or Service
    	
14
    
	
10.7
    	
Nontransferability
    	
14
    
	
 
    	
 
    	
 
    
	
ARTICLE 11.
    	
OTHER   AWARDS
    	
15
    
	
11.1
    	
Grant   of Other Awards
    	
15
    
	
11.2
    	
Payment   of Other Awards
    	
15
    
	
11.3
    	
Termination   of Employment or Service
    	
15
    
	
11.4
    	
Nontransferability
    	
15
    
	
 
    	
 
    	
 
    
	
ARTICLE 12.
    	
REPLACEMENT   AWARDS
    	
15
    
	
 
    	
 
    	
 
    
	
ARTICLE 13.
    	
PERFORMANCE   MEASURES
    	
15
    
	
 
    	
 
    	
 
    
	
ARTICLE 14.
    	
BENEFICIARY   DESIGNATION
    	
16
    
	
 
    	
 
    	
 
    
	
ARTICLE 15.
    	
DEFERRALS
    	
17
    
	
 
    	
 
    	
 
    
	
ARTICLE 16.
    	
RIGHTS   OF PARTICIPANTS
    	
17
    
	
16.1
    	
Continued   Service
    	
17
    
	
16.2
    	
Participation
    	
17
    
	
 
    	
 
    	
 
    
	
ARTICLE 17.
    	
CHANGE   IN CONTROL
    	
17
    
	
 
    	
 
    	
 
    
	
ARTICLE 18.
    	
ADDITIONAL   FORFEITURE PROVISIONS
    	
18
    
	
 
    	
 
    	
 
    
	
ARTICLE 19.
    	
AMENDMENT,   MODIFICATION AND TERMINATION
    	
18
    
	
19.1
    	
Amendment,   Modification and Termination
    	
18
    
	
19.2
    	
Adjustment   of Awards Upon the Occurrence of Certain Unusual or Nonrecurring Events
    	
18
    

 

iii

 

	
19.3
    	
Awards   Previously Granted
    	
19
    
	
19.4
    	
Compliance   with the Performance-Based Exception
    	
19
    
	
 
    	
 
    	
 
    
	
ARTICLE 20.
    	
WITHHOLDING
    	
19
    
	
20.1
    	
Tax   Withholding
    	
19
    
	
20.2
    	
Use   of Shares to Satisfy Withholding Obligation
    	
19
    
	
 
    	
 
    	
 
    
	
ARTICLE 21.
    	
INDEMNIFICATION
    	
19
    
	
 
    	
 
    	
 
    
	
ARTICLE 22.
    	
SUCCESSORS
    	
20
    
	
 
    	
 
    	
 
    
	
ARTICLE 23.
    	
LEGAL   CONSTRUCTION
    	
20
    
	
23.1
    	
Gender,   Number and References
    	
20
    
	
23.2
    	
Severability
    	
20
    
	
23.3
    	
Requirements   of Law
    	
20
    
	
23.4
    	
Governing   Law
    	
20
    
	
23.5
    	
Non-Exclusive   Plan
    	
21
    
	
23.6
    	
Code   Section 409A Compliance
    	
21
    

 

iv

 

First Federal Bancshares of Arkansas, Inc.

 

2011 Omnibus Incentive Plan

 

ARTICLE 1

 

ESTABLISHMENT, OBJECTIVES, AND DURATION

 

1.1           Establishment of the Plan. First Federal Bancshares of Arkansas, Inc., hereby establishes an incentive compensation plan to be known as the “First Federal Bancshares of Arkansas, Inc. 2011 Omnibus Incentive Plan” (hereinafter referred to as the “Plan”). The Plan permits the granting of Nonqualified Stock Options, Incentive Stock Options, Stock Appreciation Rights, Restricted Stock, Restricted Stock Units, Performance Shares, Performance Units and Other Awards.

 

The Plan will become effective immediately upon consummation of the First Closing (as defined in the Investment Agreement) (the “Effective Date”) if it is approved by the Company’s stockholders at the Company’s 2011 annual stockholders meeting. The Plan shall remain in effect as provided in Section 1.3 hereof.

 

1.2           Objectives of the Plan. The objectives of the Plan are to optimize the profitability and growth of the Company through incentives that are consistent with the Company’s goals and that link the personal interests of Participants to those of the Company’s stockholders.

 

The Plan is further intended to provide flexibility to the Company in its ability to motivate, attract and retain the services of Participants who make or are expected to make significant contributions to the Company’s success and to allow Participants to share in the success of the Company.

 

1.3           Duration of the Plan. No Award may be granted under the Plan after the day immediately preceding the tenth anniversary of the Effective Date, or such earlier date as the Board shall determine. The Plan will remain in effect with respect to outstanding Awards until no Awards remain outstanding.

 

ARTICLE 2

 

DEFINITIONS

 

The following terms, when capitalized, shall have the meanings set forth below:

 

2.1           “Award” means, individually or collectively, Nonqualified Stock Options, Incentive Stock Options, Stock Appreciation Rights, Restricted Stock, Restricted Stock Units, Performance Shares, Performance Units, and Other Awards granted under the Plan.

 

2.2           “Award Agreement” means an agreement entered into by the Company and a Participant setting forth the terms and provisions applicable to an Award.

 

1

 

2.3           “Beneficial Ownership” shall have the meaning ascribed to such term in Rule 13d-3 of the General Rules and Regulations under the Exchange Act.

 

2.4           “Board” means the Board of Directors of the Company.

 

2.5           “Change in Control” means that the conditions set forth in any one of the following subsections shall have been satisfied:

 

(a)           an acquisition immediately after which any Person possesses direct or indirect Beneficial Ownership of 25% or more of either the then outstanding shares of Company common stock (the “Outstanding Company Common Stock”) or the combined voting power of the then outstanding voting securities of the Company entitled to vote generally in the election of directors (the “Outstanding Company Voting Securities”); provided that the following acquisitions shall be excluded: (i) any acquisition directly from the Company, other than an acquisition by virtue of the exercise of a conversion privilege unless the security being so converted was itself acquired directly from the Company, (ii) any acquisition by the Company, (iii) any acquisition by any employee benefit plan (or related trust) sponsored or maintained by the Company or a Subsidiary, or (iv) any acquisition pursuant to a transaction that complies with paragraphs (i), (ii) and (iii) of subsection (c) of this Section 2.5; or

 

(b)           during any period of two consecutive years, the individuals who, as of the beginning of such period, constitute the Board (such Board shall be hereinafter referred to as the “Incumbent Board”) cease for any reason to constitute at least a majority of the Board; provided that for purposes of this Section 2.5, any individual who becomes a member of the Board subsequent to the beginning of such period and whose election, or nomination for election by the Company’s shareholders, was approved by a vote of at least two-thirds of those individuals who are members of the Board and who were also members of the Incumbent Board (or deemed to be such pursuant to this proviso) shall be considered as though such individual were a member of the Incumbent Board; provided, further, that any such individual whose initial assumption of office occurs as a result of either an actual or threatened election contest or other actual or threatened solicitation of proxies or consents by or on behalf of a Person other than the Board shall not be so considered as a member of the Incumbent Board; or

 

(c)           consummation of a reorganization, merger, share exchange, consolidation or sale or other disposition of all or substantially all of the assets of the Company (“Corporate Transaction”); excluding, however, such a Corporate Transaction pursuant to which:

 

(i)            all or substantially all of the individuals and entities who have Beneficial Ownership, respectively, of the Outstanding Company Common Stock and Outstanding Company Voting Securities immediately prior to such Corporate Transaction will have Beneficial Ownership, directly or indirectly, of more than 50% of, respectively, the outstanding shares of common stock and the combined voting power of the then outstanding voting securities entitled to vote generally in the election of directors, as the case may be, of the corporation resulting from such Corporate Transaction (including, without limitation, the Company or a corporation that as a result of such transaction owns the Company or all or substantially all of the Company’s assets either directly or through one or more subsidiaries) (the “Resulting Corporation”) in substantially the same proportions as their ownership, immediately prior to such

 

2

 

Corporate Transaction, of the Outstanding Company Common Stock and Outstanding Company Voting Securities, as the case may be;

 

(ii)           no Person (other than (1) the Company, (2) an employee benefit plan (or related trust) sponsored or maintained by the Company or Resulting Corporation, or (3) any entity controlled by the Company or Resulting Corporation) will have Beneficial Ownership, directly or indirectly, of 25% or more of, respectively, the outstanding shares of common stock of the Resulting Corporation or the combined voting power of the outstanding voting securities of the Resulting Corporation entitled to vote generally in the election of directors, except to the extent that such ownership existed prior to the Corporate Transaction; and

 

(iii)          individuals who were members of the Incumbent Board will continue to constitute at least a majority of the members of the board of directors of the Resulting Corporation; or

 

(d)           the approval by the stockholders of the Company of a complete liquidation or dissolution of the Company.

 

For avoidance of doubt, the transactions contemplated pursuant to the terms of the Investment Agreement shall not constitute a Change in Control.

 

2.6           “Code” means the Internal Revenue Code of 1986, as amended from time to time.

 

2.7           “Committee” means the entity, as specified in Section 3.1, authorized to administer the Plan.

 

2.8           “Company” means First Federal Bancshares of Arkansas, Inc., and any successor thereto.

 

2.9           “Consultant” means any consultant or advisor to the Company or a Subsidiary.

 

2.10         “Director” means any individual who is a member of the Board of Directors of the Company or a Subsidiary.

 

2.11         “Dividend Equivalent” means, with respect to Shares subject to an Award, a right to be paid an amount equal to the dividends declared and paid on an equal number of outstanding Shares.

 

2.12         “Effective Date” shall have the meaning ascribed to such term in Section 1.1 hereof.

 

2.13         “Employee” means any employee of the Company or a Subsidiary.

 

2.14         “Exchange Act” means the Securities Exchange Act of 1934, as amended from time to time.

 

2.15         “Exercise Price” means the price at which a Share may be purchased by a Participant pursuant to an Option.

 

3

 

2.16         “Fair Market Value” means the fair market value of a Share as determined in good faith by the Committee or pursuant to a procedure specified in good faith by the Committee; provided, however, that if the Committee has not specified otherwise, Fair Market Value shall mean the closing price of a Share as reported on the NASDAQ Stock Market.

 

2.17         “Freestanding SAR” means an SAR that is granted independently of any Options, as described in Article 7 herein.

 

2.18         “Incentive Stock Option” or “ISO” means an Option that is intended to meet the requirements of Code Section 422.

 

2.19         “Investment Agreement” means that certain Investment Agreement dated as of January 27, 2011 between the Company, First Federal Bank and Bear State Financial Holdings, LLC.

 

2.20         “Nonqualified Stock Option” or “NQSO” means an Option that is not intended to meet the requirements of Code Section 422.

 

2.21         “Option” means an Incentive Stock Option or a Nonqualified Stock Option granted under the Plan, as described in Article 6 herein.

 

2.22         “Other Award” means a cash, Share-based or Share-related Award (other than an Award described in Article 6, 7, 8, 9 or 10 of the Plan) that is granted pursuant to Article 11 herein.

 

2.23         “Participant” means a current or former Employee, Director or Consultant who has rights relating to an outstanding Award.

 

2.24         “Performance-Based Exception” means the performance-based exception from the tax deductibility limitations of Code Section 162(m).

 

2.25         “Performance Period” means the period during which a performance measure must be met.

 

2.26         “Performance Share” means an Award granted to a Participant, as described in Article 9 herein.

 

2.27         “Performance Unit” means an Award granted to a Participant, as described in Article 10 herein.

 

2.28         “Period of Restriction” means the period Restricted Stock or Restricted Stock Units are subject to a substantial risk of forfeiture and are not transferable, as provided in Articles 8 and 9 herein.

 

2.29         “Person” shall have the meaning ascribed to such term in Section 3(a)(9) of the Exchange Act and used in Sections 13(d) and 14(d) thereof.

 

4

 

2.30         “Replacement Awards” means Awards issued in substitution of awards granted under equity-based incentive plans sponsored or maintained by an entity with which the Company engages in a merger, acquisition or other business transaction, pursuant to which awards relating to interests in such entity (or a related entity) are outstanding immediately prior to such merger, acquisition or other business transaction. For all purposes hereunder, Replacement Awards shall be deemed Awards.

 

2.31         “Restricted Stock” means an Award granted to a Participant, as described in Article 8 herein.

 

2.32         “Restricted Stock Unit” means an Award granted to a Participant, as described in Article 9 herein.

 

2.33         “Share” means a share common stock of the Company, par value $0.01 per share, subject to adjustment pursuant to Section 4.3 hereof.

 

2.34         “Stock Appreciation Right” or “SAR” means an Award granted to a Participant, either alone or in connection with a related Option, as described in Article 7 herein.

 

2.35         “Subsidiary” means any corporation in which the Company owns, directly or indirectly, at least fifty percent (50%) of the total combined voting power of all classes of stock, or any other entity (including, but not limited to, partnerships and joint ventures) in which the Company owns, directly or indirectly, at least fifty percent (50%) of the combined equity thereof. Notwithstanding the foregoing, for purposes of determining whether any individual may be a Participant for purposes of any grant of Incentive Stock Options, “Subsidiary” shall have the meaning ascribed to such term in Code Section 424(f).

 

2.36         “Tandem SAR” means an SAR that is granted in connection with a related Option, as described in Article 7 herein.

 

ARTICLE 3

 

ADMINISTRATION

 

3.1           The Committee. The Plan shall be administered by the Compensation Committee of the Board or such other committee as the Board shall select (the “Committee”). The members of the Committee shall be appointed from time to time by, and shall serve at the discretion of, the Board.

 

3.2           Authority of the Committee. Except as limited by law or by the Certificate of Incorporation or Bylaws of the Company, and subject to the provisions herein, the Committee shall have full power to select the Employees, Directors and Consultants who shall participate in the Plan; determine the sizes and types of Awards; determine the terms and conditions of Awards in a manner consistent with the Plan; construe and interpret the Plan and any Award Agreement or other agreement or instrument entered into in connection with the Plan; establish, amend, or waive rules and regulations for the Plan’s administration; and, subject to the provisions of Section 19.3 herein, amend the terms and conditions of any outstanding Award and Award Agreement. Further, the Committee shall make all other determinations that may be necessary or

 

5

 

advisable for the administration of the Plan. As permitted by law, the Committee may delegate its authority as identified herein.

 

3.3           Decisions Binding. All determinations and decisions made by the Committee pursuant to the provisions of the Plan and all related orders and resolutions of the Board shall be final, conclusive and binding on all Persons, including the Company, its Subsidiaries, its stockholders, Directors, Employees, Consultants and their estates and beneficiaries and any transferee of an Award.

 

ARTICLE 4

 

SHARES SUBJECT TO THE PLAN; INDIVIDUAL LIMITS;
 AND ANTI-DILUTION ADJUSTMENTS

 

4.1           Number of Shares Available for Grants.

 

(a)           Subject to adjustment as provided in Section 4.3 herein, the maximum number of Shares that may be delivered pursuant to Awards under the Plan shall be 1,930,269 Shares; provided that:

 

(i)            Shares that are potentially deliverable under an Award granted under the Plan that is canceled, forfeited, settled in cash, expires or is otherwise terminated without delivery of such Shares shall not be counted as having been delivered under the Plan.

 

(ii)           Shares that have been issued in connection with an Award of Restricted Stock that is canceled or forfeited prior to vesting or settled in cash, causing the Shares to be returned to the Company, shall not be counted as having been delivered under the Plan.

 

If Shares are returned to the Company in satisfaction of taxes relating to Restricted Stock, in connection with a cash out of Restricted Stock (but excluding upon forfeiture of Restricted Stock) or in connection with the tendering of Shares by a Participant in satisfaction of the Exercise Price or taxes relating to an Award, such issued Shares shall not become available again under the Plan. Each SAR issued under the Plan will be counted as one share issued under the Plan without regard to the number of Shares issued to the Participant upon exercise of such SAR.

 

Shares delivered pursuant to the Plan may be authorized but unissued Shares, treasury Shares or Shares purchased on the open market.

 

(b)           Subject to adjustment as provided in Section 4.3 herein, 965,134 Shares may be delivered in connection with “full value Awards,” meaning Awards other than Options, SARs, or Other Awards for which the Participant pays the grant date intrinsic value.

 

(c)           Notwithstanding the foregoing, for purposes of determining the number of Shares available for grant as Incentive Stock Options, only Shares that are subject to an Award that expires or is cancelled, forfeited or settled in cash shall be treated as not having been issued under the Plan.

 

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4.2           Individual Limits. Subject to adjustment as provided in Section 4.3 herein, the following rules shall apply with respect to Awards and any related dividends or Dividend Equivalents intended to qualify for the Performance-Based Exception:

 

(a)           Options:  The maximum aggregate number of Shares with respect to which Options may be granted in any one fiscal year to any one Participant shall be 193,027 Shares.

 

(b)           SARs:  The maximum aggregate number of Shares with respect to which Stock Appreciation Rights may be granted in any one fiscal year to any one Participant shall be 193,027  Shares.

 

(c)           Restricted Stock:  The maximum aggregate number of Shares of Restricted Stock that may be granted in any one fiscal year to any one Participant shall be 193,027 Shares.

 

(d)           Restricted Stock Units:  The maximum aggregate number of Shares with respect to which Restricted Stock Units may be granted in any one fiscal year to any one Participant shall be 193,027 Shares.

 

(e)           Performance Shares:  The maximum aggregate number of Shares with respect to which Performance Shares may be granted in any one fiscal year to any one Participant shall be 193,027 Shares.

 

(f)            Performance Units:  The maximum aggregate compensation that can be paid pursuant to Performance Units awarded in any one fiscal year to any one Participant shall be $1,000,000 or a number of Shares having an aggregate Fair Market Value not in excess of such amount.

 

(g)           Other Awards:  The maximum aggregate compensation that can be paid pursuant to Other Awards awarded in any one fiscal year to any one Participant shall be $1,000,000 or a number of Shares having an aggregate Fair Market Value not in excess of such amount.

 

(h)           Dividends and Dividend Equivalents:  The maximum dividend or Dividend Equivalent that may be paid in any one fiscal year to any one Participant shall be $1,000,000.

 

4.3           Adjustments in Authorized Shares and Awards. In the event of any equity restructuring (within the meaning of Financial Accounting Standards No. 123R), such as a stock dividend, stock split, spin-off, rights offering or recapitalization through a large, nonrecurring cash dividend, the Committee shall cause an equitable adjustment to be made (i) in the number and kind of Shares that may be delivered under the Plan under Section 4.1 hereof, (ii) in the individual limitations set forth in Section 4.2 hereof and (iii) with respect to outstanding Awards, in the number and kind of Shares subject to outstanding Awards, the Exercise Price, grant price or other price of Shares subject to outstanding Awards, any performance conditions relating to Shares, the market price of Shares, or per-Share results, and other terms and conditions of outstanding Awards, in the case of (i), (ii) and (iii) to prevent dilution or enlargement of rights. In the event of any other change in corporate capitalization, such as a merger, consolidation or liquidation, the Committee may, in its sole discretion, cause an equitable adjustment as described in the foregoing sentence to be made, to prevent dilution or enlargement of rights. The number of Shares subject to any Award shall always be rounded down to a whole number when adjustments

 

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are made pursuant to this Section 4.3. Adjustments made by the Committee pursuant to this Section 4.3 shall be final, binding and conclusive.

 

ARTICLE 5

 

ELIGIBILITY AND PARTICIPATION

 

5.1           Eligibility. Persons eligible to participate in the Plan include all Employees, Directors and Consultants.

 

5.2           Actual Participation. Subject to the provisions of the Plan, the Committee may, from time to time, select from all eligible Employees, Directors and Consultants, those to whom Awards shall be granted and shall determine the nature and amount of each Award.

 

ARTICLE 6

 

OPTIONS

 

6.1           Grant of Options. Subject to the terms and provisions of the Plan, Options may be granted to Participants in such amounts, upon such terms, and at such times as the Committee shall determine.

 

6.2           Award Agreement. Each Option grant shall be evidenced by an Award Agreement that shall specify the Exercise Price, the duration of the Option, the number of Shares to which the Option pertains, and such other provisions as the Committee shall determine. The Award Agreement also shall specify whether the Option is intended to be an ISO or an NQSO. Options that are intended to be ISOs shall be subject to the limitations set forth in Code Section 422.

 

6.3           Exercise Price. The Exercise Price for each grant of an Option under the Plan shall be at least equal to one hundred percent (100%) of the Fair Market Value of a Share on the date the Option is granted; provided, however, that this restriction shall not apply to Replacement Awards or Awards that are adjusted pursuant to Section 4.3 herein. No ISO granted to a Participant who, at the time the ISO is granted, owns stock representing more than ten percent (10%) of the voting power of all classes of stock of the Company or any Subsidiary shall have an Exercise Price that is less than one hundred ten percent (110%) of the Fair Market Value of a Share on the date the ISO is granted.

 

6.4           Duration of Options. Each Option granted to a Participant shall expire at such time as the Committee shall determine at the time of grant; provided, however, that no Option shall be exercisable later than the tenth (10th) anniversary date of its grant. No ISO granted to a Participant who, at the time the ISO is granted, owns stock representing more than ten percent (10%) of the voting power of all classes of stock of the Company or any Subsidiary shall be exercisable later than the fifth (5th) anniversary of the date of its grant.

 

6.5           Exercise of Options. Options granted under this Article 6 shall be exercisable at such times and be subject to such restrictions and conditions as set forth in the Award Agreement and as the Committee shall in each instance approve, which need not be the same for each grant or for each Participant.

 

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6.6           Payment. Options granted under this Article 6 shall be exercised by the delivery of a written notice of exercise to the Company, setting forth the number of Shares with respect to which the Option is to be exercised and specifying the method of payment of the Exercise Price.

 

The Exercise Price of an Option shall be payable to the Company in full: (a) in cash or its equivalent, (b) by tendering Shares or directing the Company to withhold Shares from the Option having an aggregate Fair Market Value at the time of exercise equal to the Exercise Price, (c) by broker-assisted cashless exercise, (d) in any other manner then permitted by the Committee, or (e) by a combination of any of the permitted methods of payment. The Committee may limit any method of payment, other than that specified under (a), for administrative convenience, to comply with applicable law, or for any other reason.

 

6.7           Restrictions on Share Transferability. The Committee may impose such restrictions on any Shares acquired pursuant to the exercise of an Option granted under this Article 6 as it may deem advisable, including, without limitation, restrictions under applicable federal securities laws, under the requirements of any stock exchange or market upon which such Shares are then listed and/or traded, and under any blue sky or state securities laws applicable to such Shares.

 

6.8           Dividend Equivalents. At the discretion of the Committee, an Award of Options may provide the Participant with the right to receive Dividend Equivalents, which may be paid currently or credited to an account for the Participant, and may be settled in cash and/or Shares, as determined by the Committee in its sole discretion, subject in each case to such terms and conditions as the Committee shall establish.

 

6.9           Termination of Employment or Service. Each Participant’s Option Award Agreement shall set forth the extent to which the Participant shall have the right to exercise the Option following termination of the Participant’s employment or, if the Participant is a Director or Consultant, service with the Company and/or a Subsidiary, as the case may be. Such provisions shall be determined in the sole discretion of the Committee, need not be uniform among all Options, and may reflect distinctions based on the reasons for termination of employment or service.

 

6.10         Nontransferability of Options.

 

(a)           Incentive Stock Options. ISOs may not be sold, transferred, pledged, assigned, or otherwise alienated or hypothecated, other than by will or by the laws of descent and distribution, and shall be exercisable during a Participant’s lifetime only by such Participant.

 

(b)           Nonqualified Stock Options. NQSOs may not be sold, transferred, pledged, assigned, or otherwise alienated or hypothecated, other than by will or by the laws of descent and distribution, and shall be exercisable during a Participant’s lifetime only by such Participant. NQSOs may not be transferred for value or consideration.

 

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ARTICLE 7

 

STOCK APPRECIATION RIGHTS

 

7.1           Grant of SARs. Subject to the terms and provisions of the Plan, SARs may be granted to Participants in such amounts, upon such terms, and at such times as the Committee shall determine. The Committee may grant Freestanding SARs, Tandem SARs, or any combination of these forms of SAR.

 

The Committee shall have complete discretion in determining the number of SARs granted to each Participant (subject to Article 4 herein) and, consistent with the provisions of the Plan, in determining the terms and conditions pertaining to such SARs.

 

The grant price of a Freestanding SAR shall at least equal the Fair Market Value of a Share on the date of grant of the SAR, and the grant price of a Tandem SAR shall equal the Exercise Price of the related Option; provided, however, that this restriction shall not apply to Replacement Awards or Awards that are adjusted pursuant to Section 4.3 herein.

 

7.2           Exercise of Tandem SARs. A Tandem SAR may be exercised only with respect to the Shares for which its related Option is then exercisable. To the extent exercisable, Tandem SARs may be exercised for all or part of the Shares subject to the related Option. The exercise of all or part of a Tandem SAR shall result in the forfeiture of the right to purchase a number of Shares under the related Option equal to the number of Shares with respect to which the SAR is exercised. Conversely, upon exercise of all or part of an Option with respect to which a Tandem SAR has been granted, an equivalent portion of the Tandem SAR shall similarly be forfeited.

 

Notwithstanding any other provision of the Plan to the contrary, with respect to a Tandem SAR granted in connection with an ISO: (i) the Tandem SAR will expire no later than the expiration of the underlying ISO; (ii) the value of the payout with respect to the Tandem SAR may be for no more than one hundred percent (100%) of the difference between the Exercise Price of the underlying ISO and the Fair Market Value of the Shares subject to the underlying ISO at the time the Tandem SAR is exercised; and (iii) the Tandem SAR may be exercised only when the Fair Market Value of the Shares subject to the ISO exceeds the Exercise Price of the ISO.

 

7.3           Exercise of Freestanding SARs. Freestanding SARs may be exercised upon whatever terms and conditions the Committee, in its sole discretion, imposes upon them and sets forth in the Award Agreement.

 

7.4           Award Agreement. Each SAR grant shall be evidenced by an Award Agreement that shall specify the grant price, the term of the SAR, and such other provisions as the Committee shall determine.

 

7.5           Term of SARs. The term of an SAR granted under the Plan shall be determined by the Committee, in its sole discretion; provided, however, that such term shall not exceed ten (10) years.

 

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7.6           Payment of SAR Amount. Upon exercise of an SAR, a Participant shall be entitled to receive payment from the Company in an amount determined by multiplying:

 

(a)           the difference between the Fair Market Value of a Share on the date of exercise over the grant price; by

 

(b)           the number of Shares with respect to which the SAR is exercised.

 

At the discretion of the Committee, the payment upon SAR exercise may be in cash, in Shares of equivalent value, or in some combination thereof.

 

7.7           Dividend Equivalents. At the discretion of the Committee, an Award of SARs may provide the Participant with the right to receive Dividend Equivalents, which may be paid currently or credited to an account for the Participant, and may be settled in cash and/or Shares, as determined by the Committee in its sole discretion, subject in each case to such terms and conditions as the Committee shall establish.

 

7.8           Termination of Employment or Service. Each SAR Award Agreement shall set forth the extent to which the Participant shall have the right to exercise the SAR following termination of the Participant’s employment or, if the Participant is a Director or Consultant, service with the Company and/or a Subsidiary, as the case may be. Such provisions shall be determined in the sole discretion of the Committee, need not be uniform among all SARs, and may reflect distinctions based on the reasons for termination of employment or service.

 

7.9           Nontransferability of SARs. SARs may not be sold, transferred, pledged, assigned, or otherwise alienated or hypothecated, other than by will or by the laws of descent and distribution, and shall be exercisable during a Participant’s lifetime only by such Participant. SARs may not be transferred for value or consideration.

 

ARTICLE 8

 

RESTRICTED STOCK

 

8.1           Grant of Restricted Stock. Subject to the terms and provisions of the Plan, Restricted Stock may be granted to Participants in such amounts, upon such terms, and at such times as the Committee shall determine.

 

8.2           Award Agreement. Each Restricted Stock grant shall be evidenced by an Award Agreement that shall specify the Period(s) of Restriction and, if applicable, Performance Period(s), the number of Shares of Restricted Stock granted, and such other provisions as the Committee shall determine.

 

8.3           Other Restrictions. The Committee shall impose such other conditions and/or restrictions on any Shares of Restricted Stock granted pursuant to the Plan as it may deem advisable including, without limitation, a requirement that Participants pay a stipulated purchase price for each Share of Restricted Stock, a requirement that the issuance of Shares of Restricted Stock be delayed, restrictions based upon the achievement of specific performance goals, time-based restrictions on vesting following the attainment of the performance goals, time-based

 

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restrictions, and/or restrictions under applicable laws or under the requirements of any stock exchange or market upon which such Shares are listed or traded, or holding requirements or sale restrictions placed on the Shares by the Company upon vesting of such Restricted Stock. The Company may retain in its custody any certificate evidencing the Shares of Restricted Stock and place thereon a legend and institute stop-transfer orders on such Shares, and the Participant shall be obligated to sign any stock power requested by the Company relating to the Shares to give effect to the forfeiture provisions of the Restricted Stock.

 

8.4           Removal of Restrictions. Subject to applicable laws, Restricted Stock shall become freely transferable by the Participant after the last day of the Period of Restriction applicable thereto. Once Restricted Stock is released from the restrictions, the Participant shall be entitled to receive a certificate evidencing the Shares.

 

8.5           Voting Rights. Unless otherwise determined by the Committee and set forth in a Participant’s Award Agreement, to the extent permitted or required by law, as determined by the Committee, Participants holding Shares of Restricted Stock granted hereunder may exercise full voting rights with respect to those Shares during the Period of Restriction.

 

8.6           Dividends and Other Distributions. Except as otherwise provided in a Participant’s Award Agreement, during the Period of Restriction, Participants holding Shares of Restricted Stock shall receive all regular cash dividends paid with respect to all Shares while they are so held, and, except as otherwise determined by the Committee, all other distributions paid with respect to such Restricted Stock shall be credited to Participants subject to the same restrictions on transferability and forfeitability as the Restricted Stock with respect to which they were paid and paid at such time following full vesting as are paid the Shares of Restricted Stock with respect to which such distributions were made.

 

8.7           Termination of Employment or Service. Each Award Agreement shall set forth the extent to which the Participant shall have the right to retain unvested Restricted Stock following termination of the Participant’s employment or, if the Participant is a Director or Consultant, service with the Company and/or a Subsidiary, as the case may be. Such provisions shall be determined in the sole discretion of the Committee, need not be uniform among all Awards of Restricted Stock, and may reflect distinctions based on the reasons for termination of employment or service.

 

8.8           Nontransferability of Restricted Stock. Except as otherwise determined by the Committee, during the applicable Period of Restriction, a Participant’s Restricted Stock and rights relating thereto shall be available during the Participant’s lifetime only to such Participant, and such Restricted Stock and related rights may not be sold, transferred, pledged, assigned, or otherwise alienated or hypothecated other than by will or by the laws of descent and distribution.

 

ARTICLE 9

 

RESTRICTED STOCK UNITS AND PERFORMANCE SHARES

 

9.1           Grant of Restricted Stock Units/Performance Shares. Subject to the terms and provisions of the Plan, Restricted Stock Units and Performance Shares may be granted to

 

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Participants in such amounts, upon such terms, and at such times as the Committee shall determine.

 

9.2           Award Agreement. Each grant of Restricted Stock Units or Performance Shares shall be evidenced by an Award Agreement that shall specify the applicable Period(s) of Restriction and/or Performance Period(s) (as the case may be), the number of Restricted Stock Units or Performance Shares granted, and such other provisions as the Committee shall determine. The initial value of a Restricted Stock Unit or Performance Share shall be at least equal to the Fair Market Value of a Share on the date of grant; provided, however, that this restriction shall not apply to Replacement Awards or Awards that are adjusted pursuant to Section 4.3 herein.

 

9.3           Form and Timing of Payment. Except as otherwise provided in Article 17 herein or a Participant’s Award Agreement, payment of Restricted Stock Units or Performance Shares shall be made at a specified settlement date that shall not be earlier than the last day of the Period of Restriction or Performance Period, as the case may be. The Committee, in its sole discretion, may pay earned Restricted Stock Units and Performance Shares by delivery of Shares or by payment in cash of an amount equal to the Fair Market Value of such Shares (or a combination thereof). The Committee may provide that settlement of Restricted Stock Units or Performance Shares shall be deferred, on a mandatory basis or at the election of the Participant.

 

9.4           Voting Rights. A Participant shall have no voting rights with respect to any Restricted Stock Units or Performance Shares granted hereunder; provided, however, that the Committee may deposit Shares potentially deliverable in connection with Restricted Stock Units or Performance Shares in a rabbi trust, in which case the Committee may provide for pass through voting rights with respect to such deposited Shares.

 

9.5           Dividend Equivalents. At the discretion of the Committee, an Award of Restricted Stock Units or Performance Shares may provide the Participant with the right to receive Dividend Equivalents, which may be paid currently or credited to an account for the Participant, and may be settled in cash and/or Shares, as determined by the Committee in its sole discretion, subject in each case to such terms and conditions as the Committee shall establish.

 

9.6           Termination of Employment or Service. Each Award Agreement shall set forth the extent to which the Participant shall have the right to receive a payout with respect to an Award of Restricted Stock Units or Performance Shares following termination of the Participant’s employment or, if the Participant is a Director or Consultant, service with the Company and/or a Subsidiary, as the case may be. Such provisions shall be determined in the sole discretion of the Committee, need not be uniform among all Restricted Stock Units or Performance Shares, and may reflect distinctions based on the reasons for termination of employment or service.

 

9.7           Nontransferability. Except as otherwise determined by the Committee, Restricted Stock Units and Performance Shares and rights relating thereto may not be sold, transferred, pledged, assigned, or otherwise alienated or hypothecated, other than by will or by the laws of descent and distribution.

 

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ARTICLE 10

 

PERFORMANCE UNITS

 

10.1         Grant of Performance Units. Subject to the terms and conditions of the Plan, Performance Units may be granted to Participants in such amounts, upon such terms, and at such times as the Committee shall determine.

 

10.2         Award Agreement. Each grant of Performance Units shall be evidenced by an Award Agreement that shall specify the number of Performance Units granted, the Performance Period(s), the performance goals and such other provisions as the Committee shall determine.

 

10.3         Value of Performance Units. The Committee shall set performance goals in its discretion that, depending on the extent to which they are met, will determine the number and/or value of Performance Units that will be paid out to the Participants.

 

10.4         Form and Timing of Payment. Except as otherwise provided in Article 17 herein or a Participant’s Award Agreement, payment of earned Performance Units shall be made following the close of the applicable Performance Period. The Committee, in its sole discretion, may pay earned Performance Units in cash or in Shares that have an aggregate Fair Market Value equal to the value of the earned Performance Units (or a combination thereof). The Committee may provide that settlement of Performance Units shall be deferred, on a mandatory basis or at the election of the Participant.

 

10.5         Dividend Equivalents. At the discretion of the Committee, an Award of Performance Units may provide the Participant with the right to receive Dividend Equivalents, which may be paid currently or credited to an account for the Participant, and may be settled in cash and/or Shares, as determined by the Committee in its sole discretion, subject in each case to such terms and conditions as the Committee shall establish.

 

10.6         Termination of Employment or Service. Each Award Agreement shall set forth the extent to which the Participant shall have the right to receive a payout with respect to an Award of Performance Units following termination of the Participant’s employment or, if the Participant is a Director or Consultant, service with the Company and/or a Subsidiary, as the case may be. Such provisions shall be determined in the sole discretion of the Committee, need not be uniform among all Performance Units and may reflect distinctions based on reasons for termination of employment or service.

 

10.7         Nontransferability. Except as otherwise determined by the Committee, Performance Units and rights relating thereto may not be sold, transferred, pledged, assigned or otherwise alienated or hypothecated, other than by will or by the laws of descent and distribution.

 

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ARTICLE 11

 

OTHER AWARDS

 

11.1         Grant of Other Awards. Subject to the terms and conditions of the Plan, Other Awards may be granted to Participants in such amounts, upon such terms, and at such times as the Committee shall determine. Types of Other Awards that may be granted pursuant to this Article 11 include, without limitation, the payment of cash or Shares based on attainment of performance goals established by the Committee, the payment of Shares as a bonus or in lieu of cash based on attainment of performance goals established by the Committee, and the payment of Shares in lieu of cash under other Company incentive or bonus programs.

 

11.2         Payment of Other Awards. Payment under or settlement of any such Awards shall be made in such manner and at such times as the Committee may determine.

 

11.3         Termination of Employment or Service. The Committee shall determine the extent to which the Participant shall have the right to receive Other Awards following termination of the Participant’s employment or, if the Participant is a Director or Consultant, service with the Company and/or a Subsidiary, as the case may be. Such provisions shall be determined in the sole discretion of the Committee, may be included in an agreement entered into with each Participant, but need not be uniform among all Other Awards, and may reflect distinctions based on the reasons for termination of employment or service.

 

11.4         Nontransferability. Except as otherwise determined by the Committee, Other Awards and rights relating thereto may not be sold, transferred, pledged, assigned, or otherwise alienated or hypothecated, other than by will or by the laws of descent and distribution.

 

ARTICLE 12

 

REPLACEMENT AWARDS

 

Each Replacement Award shall have substantially the same terms and conditions (as determined by the Committee) as the award it replaces; provided, however, that the number of Shares subject to Replacement Awards, the Exercise Price, grant price or other price of Shares subject to Replacement Awards, any performance conditions relating to Shares underlying Replacement Awards, or the market price of Shares underlying Replacement Awards or per-Share results may differ from the awards they replace to the extent such differences are determined to be appropriate and equitable by the Committee, in its sole discretion.

 

ARTICLE 13

 

PERFORMANCE MEASURES

 

The Committee may specify that the attainment of one or more of the performance measures set forth in this Article 13 shall determine the degree of granting, vesting and/or payout with respect to Awards (including any related dividends or Dividend Equivalents) that the Committee intends will qualify for the Performance-Based Exception. The performance goals to be used for such Awards shall be chosen from among the following performance measure(s):

 

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earnings per share, economic value created, market share (actual or targeted growth), net income (before or after taxes), operating income, adjusted net income after capital charge, return on assets (actual or targeted growth), return on capital (actual or targeted growth), return on equity (actual or targeted growth), return on investment (actual or targeted growth), revenue (actual or targeted growth), cash flow, operating margin, share price, share price growth, total stockholder return, and strategic business criteria consisting of one or more objectives based on meeting specified market penetration goals, productivity measures, geographic business expansion goals, cost targets, customer satisfaction or employee satisfaction goals, goals relating to merger synergies, management of employment practices and employee benefits, or supervision of litigation and information technology, and goals relating to acquisitions or divestitures of Subsidiaries and/or other affiliates or joint ventures. The targeted level or levels of performance with respect to such performance measures may be established at such levels and on such terms as the Committee may determine, in its discretion, including in absolute terms, as a goal relative to performance in prior periods, or as a goal compared to the performance of one or more comparable companies or an index covering multiple companies. Awards (including any related dividends or Dividend Equivalents) that are not intended to qualify for the Performance-Based Exception may be based on these or such other performance measures as the Committee may determine.

 

Achievement of performance goals in respect of Awards intended to qualify under the Performance-Based Exception shall be measured over a Performance Period, and the goals shall be established not later than ninety (90) days after the beginning of the Performance Period or, if less than (90) days, the number of days that is equal to twenty-five percent (25%) of the relevant Performance Period applicable to the Award. The Committee shall have the discretion to adjust the determinations of the degree of attainment of the pre-established performance goals; provided, however, that Awards that are designed to qualify for the Performance-Based Exception may not be adjusted upward (the Committee may, in its discretion, adjust such Awards downward).

 

ARTICLE 14

 

BENEFICIARY DESIGNATION

 

Each Participant under the Plan may, from time to time, name any beneficiary or beneficiaries (who may be named contingently or successively) to whom any benefit under the Plan is to be paid in case of his or her death before he or she receives any or all of such benefit. Each such designation shall revoke all prior designations by the same Participant, shall be in a form prescribed by the Committee, and will be effective only when filed by the Participant in writing during the Participant’s lifetime with the Committee. In the absence of any such designation, benefits remaining unpaid at the Participant’s death shall be paid to the Participant’s estate.

 

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ARTICLE 15

 

DEFERRALS

 

If permitted by the Committee, a Participant may defer receipt of amounts that would otherwise be provided to such Participant with respect to an Award, including Shares deliverable upon exercise of an Option or SAR or upon payout of any other Award. If permitted, such deferral (and the required deferral election) shall be made in accordance with, and shall be subject to, the terms and conditions of the applicable nonqualified deferred compensation plan, agreement or arrangement under which such deferral is made and such other terms and conditions as the Committee may prescribe.

 

ARTICLE 16

 

RIGHTS OF PARTICIPANTS

 

16.1         Continued Service. Nothing in the Plan shall:

 

(a)           interfere with or limit in any way the right of the Company or a Subsidiary to terminate any Participant’s employment or service at any time,

 

(b)           confer upon any Participant any right to continue in the employ or service of the Company or a Subsidiary, nor

 

(c)           confer on any Director any right to continue to serve on the Board of Directors of the Company or a Subsidiary.

 

16.2         Participation. No Employee, Director or Consultant shall have the right to be selected to receive an Award under the Plan, or, having been so selected, to be selected to receive future Awards.

 

ARTICLE 17

 

CHANGE IN CONTROL

 

Except as otherwise provided in a Participant’s Award Agreement, upon the occurrence of a Change in Control, unless otherwise specifically prohibited under applicable laws, or by the rules and regulations of any governing governmental agencies or national securities exchanges:

 

(a)           any and all outstanding Options and SARs granted hereunder shall become immediately exercisable; provided, however, that the Committee may instead provide that such Awards shall be automatically cashed out upon a Change in Control;

 

(b)           any Period of Restriction or other restriction imposed on Restricted Stock, Restricted Stock Units and Other Awards shall lapse; and

 

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(c)           any and all Performance Shares, Performance Units and other Awards (if performance-based) shall be deemed earned at the target level (or if no target level is specified, the maximum level) with respect to all open Performance Periods.

 

ARTICLE 18

 

ADDITIONAL FORFEITURE PROVISIONS

 

The Committee may condition a Participant’s right to receive a grant of an Award, to vest in the Award, to exercise the Award, to retain cash, Shares, other Awards, or other property acquired in connection with the Award, or to retain the profit or gain realized by the Participant in connection with the Award, including cash or other proceeds received upon sale of Shares acquired in connection with an Award, upon compliance by the Participant with specified conditions relating to non-competition, confidentiality of information relating to or possessed by the Company, non-solicitation of customers, suppliers, and employees of the Company, cooperation in litigation, non-disparagement of the Company and its officers, directors and affiliates, and other restrictions upon or covenants of the Participant, including during specified periods following termination of employment with or service for the Company and/or a Subsidiary.

 

ARTICLE 19

 

AMENDMENT, MODIFICATION AND TERMINATION

 

19.1         Amendment, Modification and Termination. The Board may at any time and from time to time, alter, amend, suspend or terminate the Plan in whole or in part; provided, however, that no amendment that requires stockholder approval in order for the Plan to continue to comply with Section 162(m) requirements, the NASDAQ listing standards or any rule promulgated by the United States Securities and Exchange Commission or any securities exchange on which the securities of the Company are listed shall be effective unless such amendment shall be approved by the requisite vote of stockholders of the Company entitled to vote thereon within the time period required under such applicable listing standard or rule.

 

19.2         Adjustment of Awards Upon the Occurrence of Certain Unusual or Nonrecurring Events. The Committee may make adjustments in the terms and conditions of, and the criteria included in, Awards in recognition of unusual or nonrecurring events (including, without limitation, the events described in Section 4.3 hereof) affecting the Company or the financial statements of the Company or of changes in applicable laws, regulations, or accounting principles, whenever the Committee determines that such adjustments are appropriate in order to prevent dilution or enlargement of the benefits or potential benefits intended to be made available under the Plan; provided, however, that (except as provided in Section 4.3 hereof) the Committee does not have the power to amend the terms of previously granted options to reduce the exercise price per share subject to such options, or to cancel such options and grant substitute options with a lower exercise price per share than the cancelled options. The Company is not permitted to purchase for cash previously granted options with an exercise price that is greater than the Company’s trading price on the proposed date of purchase. With respect to any Awards intended to comply with the Performance-Based Exception, any such exception shall be

 

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specified at such times and in such manner as will not cause such Awards to fail to qualify under the Performance-Based Exception.

 

19.3         Awards Previously Granted. No termination, amendment or modification of the Plan or of any Award shall adversely affect in any material way any Award previously granted under the Plan without the written consent of the Participant holding such Award, unless such termination, modification or amendment is required by applicable law and except as otherwise provided herein.

 

19.4         Compliance with the Performance-Based Exception. If it is intended that an Award (and/or any dividends or Dividend Equivalents relating to such Award) comply with the requirements of the Performance-Based Exception, the Committee may apply any restrictions it deems appropriate such that the Awards (and/or dividends or Dividend Equivalents) maintain eligibility for the Performance-Based Exception. If changes are made to Code Section 162(m) or regulations promulgated thereunder to permit greater flexibility with respect to any Award or Awards available under the Plan, the Committee may, subject to this Article 19, make any adjustments to the Plan and/or Award Agreements it deems appropriate.

 

ARTICLE 20

 

WITHHOLDING

 

20.1         Tax Withholding. The Company shall have the power and the right to deduct or withhold, or require a Participant to remit to the Company, an amount sufficient to satisfy federal, state, local, domestic or foreign taxes required by law or regulation to be withheld with respect to any taxable event arising as a result of the Plan.

 

20.2         Use of Shares to Satisfy Withholding Obligation. With respect to withholding required upon the exercise of Options or SARs, upon the vesting or settlement of Restricted Stock, Restricted Stock Units, Performance Shares or Performance Units, or upon any other taxable event arising as a result of Awards granted hereunder, the Committee may require or may permit Participants to elect that the withholding requirement be satisfied, in whole or in part, by having the Company withhold, or by tendering to the Company, Shares having a Fair Market Value equal to the minimum statutory withholding (based on minimum statutory withholding rates for federal and state tax purposes, including payroll taxes) that could be imposed on the transaction and, in any case in which it would not result in additional accounting expense to the Company, taxes in excess of the minimum statutory withholding amounts. Any such elections by a Participant shall be irrevocable, made in writing and signed by the Participant.

 

ARTICLE 21

 

INDEMNIFICATION

 

Each person who is or shall have been a member of the Committee, or of the Board, shall be indemnified and held harmless by the Company to the fullest extent permitted by the laws of the State of incorporation of the Company against and from any loss, cost, liability, or expense that may be imposed upon or reasonably incurred by him or her in connection with or resulting

 

19

 

from any claim, action, suit, or proceeding to which he or she may be a party or in which he or she may be involved by reason of any action taken or failure to act under the Plan and against and from any and all amounts paid by him or her in settlement thereof, with the Company’s approval, or paid by him or her in satisfaction of any judgment in any such action, suit, or proceeding against him or her, provided he or she shall give the Company an opportunity, at its own expense, to handle and defend the same before he or she undertakes to handle and defend it on his or her own behalf. The foregoing right of indemnification is subject to the person having been successful in the legal proceedings or having acted in good faith and what is reasonably believed to be a lawful manner in the Company’s best interests. The foregoing right of indemnification shall not be exclusive of any other rights of indemnification to which such persons may be entitled under the Company’s Certificate of Incorporation or Bylaws, as a matter of law, or otherwise, or any power that the Company may have to indemnify them or hold them harmless.

 

ARTICLE 22

 

SUCCESSORS

 

All obligations of the Company under the Plan and with respect to Awards shall be binding on any successor to the Company, whether the existence of such successor is the result of a direct or indirect purchase, merger, consolidation, or other event, or a sale or disposition of all or substantially all of the business and/or assets of the Company.

 

ARTICLE 23

 

LEGAL CONSTRUCTION

 

23.1         Gender, Number and References. Except where otherwise indicated by the context, any masculine term used herein also shall include the feminine; the plural shall include the singular and the singular shall include the plural. Any reference in the Plan to an act or code or to any section thereof or rule or regulation thereunder shall be deemed to refer to such act, code, section, rule or regulation, as may be amended from time to time, or to any successor act, code, section, rule or regulation.

 

23.2         Severability. In the event any provision of the Plan shall be held illegal or invalid for any reason, the illegality or invalidity shall not affect the remaining parts of the Plan, and the Plan shall be construed and enforced as if the illegal or invalid provision had not been included.

 

23.3         Requirements of Law. The granting of Awards and the issuance of Shares under the Plan shall be subject to all applicable laws, rules, and regulations, and to such approvals by any governmental agencies or national securities exchanges as may be required.

 

23.4         Governing Law. To the extent not preempted by federal law, the Plan, and all agreements hereunder, shall be construed in accordance with and governed by the laws of the State of incorporation of the Company, without giving effect to conflicts or choice of law principles.

 

20

 

23.5         Non-Exclusive Plan. Neither the adoption of the Plan by the Board nor its submission to the stockholders of the Company for approval shall be construed as creating any limitations on the power of the Board or a committee thereof to adopt such other incentive arrangements as it may deem desirable, including other incentive arrangements and awards that do or do not qualify under the Performance-Based Exception.

 

23.6         Code Section 409A Compliance. To the extent applicable, it is intended that this Plan and any Awards granted under the Plan comply with the requirements of Code Section 409A and any related regulations or other guidance promulgated with respect to such Section by the U.S. Department of the Treasury or the Internal Revenue Service (collectively “Section 409A”). Any provision that would cause the Plan or any Award granted under the Plan to fail to satisfy Section 409A shall have no force or effect until amended to comply with Section 409A, which amendment may be retroactive to the extent permitted by Section 409A.

 

21

 

REVOCABLE PROXY

FIRST FEDERAL BANCSHARES OF ARKANSAS, INC.

 

PLEASE MARK VOTES AS IN THIS EXAMPLE

 

THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF DIRECTORS OF FIRST FEDERAL BANCSHARES OF ARKANSAS, INC. (“COMPANY”) FOR USE AT THE SPECIAL MEETING OF STOCKHOLDERS TO BE HELD ON APRIL 29, 2011 AND AT ANY ADJOURNMENT THEREOF.

 

The undersigned, being a stockholder of the Company as of March 23, 2011, hereby authorizes and appoints the Board of Directors of the Company or any successors thereto as proxies with full powers of substitution, to represent the undersigned at the Special Meeting of Stockholders of the Company to be held at First Federal Bank, 1401 Highway 62-65 North, Harrison, Arkansas 72601, on Friday, April 29,  2011 at 10:00 a.m., Central Time, and at any adjournment of said meeting, and thereat to act with respect to all votes that the undersigned would be entitled to cast, if then personally present, upon the proposals listed below and described in the Proxy Statement and in their discretion with respect to such other matters as may properly come before the meeting or any adjournment thereof.

 

	
Please   be sure to date and sign this proxy card in the box below. 
    	
Date
    
	
 
    	
 
    
	
 
    	
 
    
	
Sign above
    	
 
    

 

The Board of Directors recommends a vote FOR each of the following proposals:

 

	
 
    	
 
    	
For
    	
 
    	
Against
    	
 
    	
Abstain
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
1.   The Amendment. To approve an amendment   to our Articles of Incorporation, as amended, to effect a 1-for-5 reverse   stock split of our common stock of all outstanding shares of common stock   (the “Reverse Split”).
    	
 
    	
o
    	
 
    	
o
    	
 
    	
o
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
2.   The Change of Control Issuance. To   approve the issuance of more than 20% of our post-Reverse Split outstanding   common stock in accordance with the terms of the Investment Agreement between   the Company, First Federal Bank and Bear State Financial Holdings, LLC.
    	
 
    	
o
    	
 
    	
o
    	
 
    	
o
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
3.   The 2011 Plan. To approve the First   Federal Bancshares of Arkansas, Inc. 2011 Omnibus Incentive Plan.
    	
 
    	
o
    	
 
    	
o
    	
 
    	
o
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
4.   Adjournment of Meeting. To approve an   adjournment of the Special Meeting, if necessary or appropriate, to solicit   additional proxies if there are insufficient votes at the time of the Special   Meeting to adopt Proposals 1 through 3.
    	
 
    	
o
    	
 
    	
o
    	
 
    	
o
    

 

None of the Proposals 1, 2 or 3 will be implemented if either of Proposals 1 or 2 is not approved by our stockholders at the Special Meeting.

 

Detach above card, sign, date and mail in postage paid envelope provided. 

 

FIRST FEDERAL BANCSHARES OF ARKANSAS, INC.

 

IMPORTANT NOTICE REGARDING THE AVAILABILITY OF PROXY MATERIALS FOR THE SPECIAL MEETING OF STOCKHOLDERS TO BE HELD ON APRIL 29, 2011. The proxy materials for this Special Meeting of Stockholders are available over the Internet at www.cfpproxy.com/3947sm

 

The Board of Directors recommends that you vote FOR the Proposals 1, 2, 3 and 4. Shares of common stock of the Company will be voted as specified. If no specification is made, shares will be voted for Proposals 1, 2, 3 and 4 and otherwise at the discretion of the proxies including on matters that properly come before the meeting. This proxy may be revoked at any time before it is exercised. None of the Proposals 1, 2 or 3 will be implemented if either of Proposals 1 or 2 is not approved by our stockholders at the Special Meeting.

 

The above signed hereby acknowledges receipt of the Notice of the Special Meeting of Stockholders of First Federal Bancshares of Arkansas, Inc. called for April 29,  2011, a Proxy Statement for the Special Meeting and the 2010 Annual Report on Form 10-K.

 

Please sign exactly as your name(s) appear(s) on this proxy card. Only one signature is required in the case of a joint account. When signing in a representative capacity, please give title.

 

IF YOUR ADDRESS HAS CHANGED, PLEASE CORRECT THE ADDRESS IN THE SPACE PROVIDED BELOW AND RETURN THIS PORTION WITH THE PROXY IN THE ENVELOPE PROVIDED.

 

PLEASE ACT PROMPTLY, SIGN, DATE & MAIL YOUR PROXY CARD TODAY

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