Document:

exv10w3

 

EXHIBIT 10.3

AMENDMENT TO BELDEN INC. 2003 LONG-TERM INCENTIVE PLAN

     The Belden Inc. 2003 Long-Term Incentive Plan is amended by changing all
references to the common stock of Belden Inc. to references to the common stock
of Belden CDT Inc.exv10w8

 

Exhibit 10.8

FOURTH AMENDMENT TO THE

BELDEN WIRE & CABLE COMPANY

RETIREMENT SAVINGS PLAN

WHEREAS, Belden Wire & Cable Company (hereinafter referred to as the
“Employer”) established the Belden Wire & Cable Company Retirement Savings Plan
(hereinafter referred to as the “Plan”) restated as of January 1, 2001 for the
benefit of certain employees of the Employer;

WHEREAS, Section 1 of Article XVIII of the Plan provides that the Employer may
amend the Plan at any time by resolution of the Employer’s Board of Directors
or by any persons authorized by resolution of the Directors to make amendments;

WHEREAS, the Employer deems it desirable to make certain amendments to the Plan
effective immediately before the Effective Time, as defined in the Agreement
and Plan of Merger by and among Cable Design Technologies Corporation, BC
Merger Corp. and Belden Inc. dated February 4, 2004, as amended, regarding the
investment fund designed to invest primarily in employer securities effective
July 15, 2004 (unless expressly noted otherwise); and

WHEREAS, the Board of Directors has adopted a resolution authorizing this
amendment.

NOW, THEREFORE, the Plan is amended effective immediately before the Effective
Time as follows:

	1.	 	Article I is amended by adding the following definition between
definitions 6 and 7:
	 
	 	 	“6A. “Belden CDT Stock” means the common stock issued by Belden Inc.
prior to July 15, 2004 and the common stock issued by Belden CDT Inc. on
or after July 15, 2004. “Belden CDT Stock” is limited to stock held in
the Belden CDT Stock Fund and excludes any shares of Belden Inc. and
Belden CDT Inc. common stock held as a small proportion of any other
Investment Funds.
	 
	 	 	6B. “Belden CDT Stock Fund” means the Investment Fund invested primarily
in Belden CDT Stock, as further described in Article XVI, Section 2(B).
Before July 15, 2004, the Belden CDT Stock Fund was known as the Belden
Stock Fund.”
	 
	2.	 	Article XI, Section 5 is deleted and replaced with the following:
	 
	 	 	“Section 5 Investment of Employer Matching Contributions Account
	 
	 	 	Regardless of the Participant’s election pursuant to the other sections
in this Article, all of the Employer Matching Contributions Account will
be invested in the Belden CDT Stock Fund (effective January 11, 2000 for
Participants of Belden Communications Company).

1

 

	 	 	A Participant may transfer all or a portion of the Participant’s Company
Matching Contributions Account into the Belden CDT Stock Fund or out of
the Belden CDT Stock Fund to other Investment Funds as of any Valuation
Date. This transfer is executed using procedures similar to those
specified in Section 3 of this Article. Additional restrictions on the
timing of this election apply to officers of the Employer required to
comply with Section 16 of the Securities Exchange Act of 1934 (as
amended) and regulations issued thereunder.
	 
	 	 	Prior to January 1, 2004, a Participant may transfer all or a portion of
the Participant’s Company Matching Contributions Account invested in the
Belden Stock Fund to other Investment Funds as of any Valuation Date.
This transfer is executed using procedures similar to those specified in
Section 3 of this Article. Additional restrictions on the timing of this
election apply to officers of the Employer required to comply with
Section 16 of the Securities Exchange Act of 1934 (as amended) and
regulations issued thereunder.
	 
	 	 	Prior to March 1, 2002, a Participant may transfer all or a portion of
the Participant’s Company Matching Contributions Account as of any
Valuation Date on or after the Participant reaches age 55. This transfer
is executed using procedures similar to those specified in Section 3 of
this Article. Additional restrictions on the timing of this election
apply to officers of the Employer required to comply with Section 16 of
the Securities Exchange Act of 1934 (as amended) and regulations issued
thereunder.”
	 
	3.	 	Article XII, Section 5(b) is deleted and replaced with the following:
	 
	 	 	"(B) Order of Withdrawal
	 
	 	 	The loan amount is taken from Accounts in the following order: Elective
Deferrals Account, rollover Account, Employer After-Tax Contributions
Account, from any other Accounts (other than the Company Matching
Contributions Account), lastly from the Company Matching Contributions
Account. Within each Account, the loan amount is taken first from the
Investment Funds pro rata other than the Belden CDT Stock Fund or the
Investment Fund primarily holding Cooper Industries, Inc. stock, second
from the Investment Fund holding primarily Cooper Industries, Inc. stock,
and third from the Belden Stock Fund.”
	 
	4.	 	Article XIII, Section 4 is deleted and replaced with the following:
	 
	 	 	“Section 4. Direct Rollovers of Withdrawals; Payment in Cash or Shares
	 
	 	 	Withdrawals are subject to the provisions of Section 6 of Article XIV.
However, effective as of October 1, 1999 withdrawals of Elective
Deferrals under Section 1 of this Article; and effective January 1, 2002,
any withdrawals permitted under the Plan under Section 1 of this Article
are not subject to Section 6 of Article XIV. Withdrawals are also
subject to the provisions of Section 1 of Article XIV.”
	 
	 	 	All distributions shall be paid in cash, including whole shares of stock
from the Belden CDT Stock Fund unless the recipient elects to receive
payment in shares of Belden CDT Stock.”

2

 

	5.	 	Article XIV, Section 1 is deleted and replaced with the following:
	 
	 	 	“Section 1 General
	 
	 	 	The Plan will distribute a Participant’s Accounts only as authorized in
this Article or the preceding Article.
	 
	 	 	All distributions will be valued as of the Valuation Date on or next
following when the Employer receives the Participant’s distribution
request and rollover election. No earnings will be computed for the
period since that Valuation Date. However, the Trustee, or its delegate,
may in its sole discretion adjust the value of the Accounts to reflect
rapidly fluctuating increases or decreases in the value of the Trust (or
any Investment Funds) since that Valuation Date.
	 
	 	 	Prior to October 1, 1999, all distributions will be valued as of the
Valuation Date on or next following when the Employer receives the
Participant’s distribution request and rollover election, except that a
distribution request and rollover election received shortly after a
Valuation Date but postmarked on or before the Valuation Date will be
valued as of that Valuation Date. No earnings will be computed for the
period since that Valuation Date. However, the Trustee may in its sole
discretion adjust the value of the Accounts to reflect rapidly
fluctuating increases or decreases in the value of the Trust (or any
Investment Funds) since that Valuation Date.
	 
	 	 	All distributions shall be paid in cash, including whole shares of Belden
CDT Stock unless the recipient elects to receive payment in shares of
Belden CDT Stock.”
	 
	6.	 	Article XVI, Section 2(B) is deleted and replaced with the following:
	 
	 	 	"(B) The Investment Funds shall include the Belden CDT Stock Fund. A
portion of the Belden CDT Stock Fund may be invested in short-term fixed
income investments and money market investments. Pursuant to the
direction of the Company, the Trustee (or investment fund manager) is
authorized to acquire, hold and dispose of Belden CDT Stock. As provided
for in ERISA Section 404(a)(2), the fiduciary duty of diversifying plan
investments is not violated by the establishment and maintenance of this
Belden CDT Stock Fund. The Company may decide that this fund not hold
contributions other than Employer Matching Contributions.
	 
	 	 	Contributions to the Belden CDT Stock Fund may be paid by contributing
(i) newly issued shares of Belden CDT Stock, (ii) treasury shares of
Belden CDT Stock, or (iii) cash with the instruction to the Trustee to
spend such cash to acquire Belden CDT Stock. Contributions to other
Investment Funds must be paid in cash.
	 
	 	 	Participants who have shares of Belden CDT Stock in their Participant
Accounts shall be named fiduciaries with respect to the voting of such
shares and shall have the following rights and responsibilities.

	 	(i)	 	Prior to each annual or special meeting of the
shareholders of Belden CDT Inc., the Company shall direct the
Trustee to furnish each Participant to whose Account shares of
Belden CDT Stock are allocated a copy of the

3

 

	 	 	 	proxy solicitation material together with a form requesting
confidential voting instructions with respect to the voting of
such shares. The Company shall also direct the Trustee as to
how to handle the voting of shares for which the Trustee does
not receive instructions. The Company shall instruct the
Trustee to vote shares on which instruction is received as
directed by the Participants and shall vote shares on which no
instruction is received in the same proportion as the
shares on which instruction was
received.
	 
	 	 	 	Upon receipt of such instructions, the Company hereby directs the Trustee
to then vote in person or by proxy such shares of Belden CDT Stock as so
instructed.

	 	(ii)	 	The Company shall direct the Trustee to furnish
each Participant to whose Account shares of Belden CDT
Stock are allocated notice of any tender or exchange offer for
or a request or invitation for tenders or exchanges of Belden
CDT Stock made to the Trustee. The Company also directs that
the Trustee shall request from each such Participant
instructions as to the tendering or exchanging of the shares of
Belden CDT Stock allocated to the Participant’s Account as well
as to the tendering or exchanging of shares for which the
Trustee does not receive instructions. The Company shall
instruct the Trustee to vote shares on which instruction is
received as directed by the Participants and shall vote shares
on which no instruction is received in the same proportion as
the shares on which instruction was received. The Company
directs that the Trustee shall provide Participants with a
reasonable period of time in which they may consider any such
tender or exchange offer for or request or invitation for
tenders or exchanges of Belden CDT Stock made to the Trustee.
Within the time specified by the Trustee, as directed by the
Company, the Trustee shall tender or exchange such shares as to
which the Trustee has received instructions to tender or
exchange.
	 
	 	(iii)	 	Instructions received from Participants by the
Trustee regarding the voting, tendering, or exchanging of
Belden CDT Stock shall be held in strictest confidence and shall
not be divulged to any other person, including officers or
employees of the Company, except as otherwise required by law,
regulation, or lawful process.”

	7.	 	Article XVI, Section 4 is deleted and replaced with the following:
	 
	 	 	“Section 4 Expenses
	 
	 	 	The Trust Fund shall pay all reasonable expenses of administering the
Plan or the Trust Fund. However, the Employer may, at its own
discretion, pay any of these expenses directly or reimburse the Trust
Fund for the payment of any of these expenses. In addition, to the
extent required by law for investments in Belden CDT Stock, the Employer
must pay or reimburse the Trust for brokerage, commissions and transfer
taxes on the purchase or sale of the Belden CDT Stock. Any expense paid
for from the Trust Fund (or an Investment Fund within the Trust Fund)
shall reduce the net income

4

 

	 	 	 	for the Trust Fund (or the Investment Fund) as of the Valuation Date on
or next following the date the expense was paid, unless the Company
decides on a nondiscriminatory basis that a different mechanical
procedure for allocating the expenses among Participants’ Accounts is
more appropriate.
	 
	 	 	 	Except as provided in the following Section, at no time prior to the
satisfaction of all liabilities with respect to Participants and their
beneficiaries under the trust may any part of the Trust Fund be used for,
or diverted to, purposes other than for the exclusive benefit of
providing benefits to Participants and their beneficiaries and defraying
reasonable expenses of administering the Plan.”

IN WITNESS WHEREOF, Belden Wire & Cable Company, by its duly authorized
officer, executes this amendment on the 28th day of July, 2004.

	 	 	 	 	 
	 	Belden Wire & Cable Company

By     /s/ Cathy Odom Staples

Its Vice President, Human Resources	 
	 	 	 
	 	 	 
	 	 	 
	 

ATTEST:

	 	 	 	 	 
	 	 	 
	 	 	 
	 

/s/ Eivind J. Kolemainen

5

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00069-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00069-of-00352.parquet"}]]