Document:

exv10w10

Exhibit 10.10

AMENDMENT TO THE

WORTHINGTON INDUSTRIES, INC. DEFERRED PROFIT SHARING PLAN

FOR THE

PENSION PROTECTION ACT OF 2006

AND OTHER GUIDANCE

     WHEREAS, Worthington Industries, Inc. (the “Company”) has adopted the Worthington Industries,
Inc. Deferred Profit Sharing Plan (the “Plan”); and

     WHEREAS, the Plan provides that it may be amended from time to time; and

     WHEREAS, the Pension Protection Act of 2006 (the “PPA”); final regulations under Section 415
of the Internal Revenue Code of 1986, as amended (“Code”); and other guidance affect the Plan;

     WHEREAS, the following amendments to the Plan are intended to constitute good faith compliance
with the requirements of the PPA, final regulations under Section 415 of the Code and other
guidance, and shall be construed in accordance with the PPA and guidance issued thereunder; and

     WHEREAS, the Company desires to amend the plan to reflect the merger of the Gerstenslager
Deferred Profit Sharing Plan into the Plan as of January 1, 2009;

     NOW, THEREFORE, the Plan is amended as follows:

AMENDMENTS REGARDING THE PPA AND SECTION 415 OF THE CODE

PREAMBLE

     The Company adopts this Amendment to the Plan to reflect changes to the Plan as a result of
the PPA, final regulations under Section 415 of the Code and other guidance. This Amendment is
effective as set forth below and supersedes the provisions of the Plan to the extent those
provisions are inconsistent with the provisions of this Amendment.

AMENDMENTS

     1. The following shall be added to Section 9.1(a) effective for Limitation Years beginning on
or after July 1, 2007:

     Except as provided below, the following amounts otherwise meeting the definition of
compensation in accordance with this section may only be treated as compensation if such
amounts are paid within 21/2 months after the later of “severance from employment” [within the
meaning of Treasury Regulation 1.415(a)-1(f)(5)] from
the Employer and Affiliate or the end of the Limitation Year that includes the date of
severance from employment from the Employer and Affiliate:

 

 

	 	(i)	 	regular payments received by the Participant
after severance of employment if (A) the payments are 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 (B) the payments would have been
paid to the Participant prior to severance from employment if the
Participant had continued in employment with the Employer.
	 
	 	(ii)	 	payment for unused accrued bona fide sick,
vacation or other leave received after severance from employment, but
only if the Participant would have been able to use the leave if
employment continued and such amounts would have been included in the
definition of compensation if the amounts were paid prior the
Participant’s severance from employment.

     Notwithstanding the foregoing, compensation shall include, regardless of whether paid
within the time period specified above, payments to an individual who does not currently
perform services for the Employer by reason of qualified military service to the extent the
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 into qualified military
service.

     Notwithstanding the foregoing, compensation shall not include the following amounts:
(A) amounts paid to a Participant who is permanently and totally disabled [as defined in
Code Section 22(e)(3)]; (B) amounts that are treated as severance pay or parachute payments
[within the meaning of Code Section 280G(b)(2)] if paid after severance from employment; or
(C) payments under a nonqualified unfunded deferred compensation plan which are paid after
severance from employment.

     For Limitation Years beginning on or after July 1, 2007, compensation shall be subject
to the dollar limitation set forth in Code Section 401(a)(17)(A), as adjusted by
401(a)(17)(B).

     If a Plan is terminated effective as of a date other than the last day of the Plan’s
Limitation Year, the Plan is treated for purposes of this section as if the Plan was amended
to change its Limitation Year. As a result of this deemed amendment, the Code Section
415(c)(1)(A) dollar limit must be prorated under the short Limitation Year rules.

     The Plan shall incorporate by reference the provisions of Section 415 of the Code and
final regulations thereunder to the extent not set forth above.

     2. Section 9.2 of the Plan shall be deleted in its entirety and the following shall be
substituted effective for Limitation Years commencing on or after July 1, 2007:

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     If excess Annual Additions are the result of Annual Additions to more than one plan of
an Employer or Affiliate, the excess Annual Additions shall be first taken from this Plan.
Notwithstanding Section 9.1, excess Annual Additions shall be corrected in the manner
permitted by the Internal Revenue Service in accordance with its Employee Plans Compliance
Resolution System, as set forth in Rev. Proc. 2006-27, Rev. Proc. 2008-50, or other
successor guidance.

     3. The following shall be added to the end of Section 9.3(a):

For calendar years commencing on or after January 1, 2007, gain or loss shall continue to
include the allocable gain or loss for the period between the end of the calendar year and
the date of distribution to the Participant.

     4. The following paragraph shall be added to the end of Section 7.2 of the Plan:

     For Plan Years commencing on or after January 1, 2007, the Plan shall permit a
Participant or Beneficiary to diversify that portion of his 401(k) Contribution Account
holding employer securities [within the meaning of Section 407(d)(1) of ERISA] at periodic,
reasonable times no less frequently than quarterly and in accordance with Section 401(a)(35)
of the Code and applicable guidance thereunder. The Plan shall permit a Participant or
Beneficiary to diversify that portion of his Regular Employer Contribution Account [other
than 401(k) Contributions] which is invested is employer securities at periodic reasonable
times no less frequently than quarterly after such Participant or Beneficiary has been
credited with at least three “years of service” [within the meaning of Code Section
411(a)(5)].

     5. The following shall be added to the end of the third paragraph of Section 14.2 of the Plan
effective for distribution notices for Plan Years commencing on or after January 1, 2007:

A Participant who is eligible for a distribution from the Plan prior to his Normal
Retirement Age shall be informed of his right to defer a distribution from the Plan and the
consequences of the failure to do so. The period for considering the notice described in
this paragraph or the notice considering a Participant’s right to make a rollover
distribution, as further set forth in Section 14.5, shall be extended from not more than 90
days to not more than 180 days.

     6. The following shall be added to Section 14.5 of the Plan effective for distributions from
the Plan commencing on or after January 1, 2007, or as otherwise provided below:

          a. the following shall be added to the end of Section 14.5(b)(ii) of the Plan, “eligible
retirement plan”:

Effective on and after January 1, 2008, an eligible retirement plan shall
also mean a Roth IRA, provided the distributee could have otherwise

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rolled over a traditional IRA to the Roth IRA during such taxable year. Effective
on and after January 1, 2007, with regard to a rollover from a non-spouse
Beneficiary who is a “designated beneficiary” [as defined by Treasury
Regulation 1.401(a)(9)-4], an eligible retirement plan shall mean an
inherited individual retirement account or annuity.

          b. The following shall be added to the end of Section 11.05(b)(iii) of the Plan:

A non-spouse Beneficiary who is a “designated beneficiary” [as defined by
Treasury Regulation 1.401(a)(9)-4] is a distributee with regard to the
interest of such person.

     7. The following shall be added to the end of the definition of “Compensation” set forth in
Section 25 of the Plan:

With respect to Compensation paid in Plan Years beginning on or after July 1, 2007, a 401(k)
Contribution cannot be made with respect to amounts that are not treated as compensation
under Section 9.1. With respect to Compensation paid in Plan Years beginning on or after
July 1, 2007, Compensation shall not include amounts otherwise includible in the definition
of Compensation which are not paid to the Participant by the later of 21/2 months after
“severance from employment” [within the meaning of Treasury Regulation 1.415(a)-1(f)(5)]
from the Employer or the end of the Limitation Year that includes the date of severance from
employment from the Employer. Notwithstanding the foregoing, Compensation shall in no event
include severance payments paid after a Participant’s severance from employment.

     8. The following shall be added to the end of the definition of “Annual Additions” set forth
in Section 25 of the Plan:

     Effective for Limitation Years commencing on and after July 1, 2007, restorative
payments that are used to restore losses to the Plan resulting from actions by a fiduciary
for which there is a reasonable risk of liability for breach of fiduciary duty under Title I
of ERISA or under other applicable federal or state law, where Plan Participants who are
similarly situated are treated similarly with respect to the payments, are not treated as
Annual Additions.

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ADMINISTRATIVE AMENDMENT TO THE PLAN

     1. The following shall be added to the preamble of the Plan:

     Effective on and after January 1, 2009, the Plan will again be by merger the successor
to the Gerstenslager Deferred Profit Sharing Plan (“Gerstenslager Plan”). The Committee
will establish the various accounts or subaccounts as is necessary to reflect the merger of
the accounts of the participants in the Gerstenslager Plan. Effective on and after January
1, 2009, The Gerstenslager Company and Gerstenslager Co. shall be classified as an Employer
in the Plan with regard to individuals who were classified as “Employees” under the
Gerstenslager Plan.

     IN WITNESS WHEREOF, this amendment shall be effective as of the dates set forth above.

	 	 	 	 	 
	 	WORTHINGTON INDUSTRIES, INC.

 	 
	 	By:  	/s/ Dale T. Brinkman
 	 
	 	 	Name (Print): Dale T. Brinkman 	 
	 	 	Title:  	             Vice President 	 
	 

Date: 11/25/08

5exv10w11

Exhibit 10.11

Amendment to the Worthington Industries, Inc.

Deferred Profit Sharing Plan

     WHEREAS, Worthington Industries, Inc. (the “Company”) has established the Worthington
Industries, Inc. Deferred Profit Sharing Plan (the “Plan”) for the benefit of its eligible
employees; and

     WHEREAS, the Plan provides that the Company may amend the Plan; and

     WHEREAS, the Company desires to amend the Plan in order to add a Roth 401(k) Contribution
feature to the Plan and for certain other reasons;

     NOW, THEREFORE, the Plan is hereby amended as follows:

     1. “90%” shall be substituted for “50%” where it appears in Section 3.1, effective on and
after January 1, 2009.

     2. Effective on and after January 1, 2009, Section 10.1 shall be deleted in its entirety and
the following shall be substituted:

10.1. Retirement. Upon an Active Participant’s retirement from the
employ of the Company and all Related Employers on or after the date his age and
number of Continuous Years of Service equal 65, and has attained age 55 with five
(5) Continuous Years of Service, he shall be entitled to receive the entire
balance of his Account. Payment of the Participant’s Account shall be made as
provided in Section 14 hereof.

     3. Effective on and after January 1, 2010, the following new Appendix B shall be added:

Appendix B — Roth 401(k) Contributions

     Effective on and after January 1, 2010, a 401(k) Participant may make Roth
401(k) Contributions through an Enrollment Designation on the same basis as the
401(k) Participant can make 401(k) Contributions. Roth 401(k) Contributions made
by a 401(k) Plan Participant shall be allocated to the Participant’s Roth 401(k) Contribution Account. A 401(k)
Participant’s Roth 401(k) Contribution Account will generally be treated by the
Plan in the same manner as such person’s 401(k) Contribution Account.
Notwithstanding the

 

 

foregoing, all salary deferral contributions made as a
condition of participation in the Plan (i.e., “automatic enrollment”
contributions) shall be made by a Participant as 401(k) Contributions.

     Roth 401(k) Contributions made by a 401(k) Participant in a Plan Year or
calendar year shall be aggregated with such person’s 401(k) Contributions for the
purpose of determining the limitations set forth in Sections 3.1, 9.1, 9.2 and
9.3. Should an excess contribution occur as a result of the application of any
such section, the Committee may create an ordering rule as to in what order the
Participant’s Roth 401(k) Contributions are to be distributed.

     An Active Participant or an Eligible Employee may make Qualified Rollover
Contributions consisting of Roth 401(k) Contributions from another eligible
retirement plan on the same basis as such person may make other Qualified Rollover
Contributions, except that all Qualified Rollover Contributions which consist of
Roth 401(k) Contributions are required to be placed in a separate Roth Qualified
Rollover Contribution Account.

     A Participant may make a withdrawal from his Roth 401(k) Contribution Account
and Roth Qualified Rollover Contribution Account on the same basis as the
Participant may make a withdrawal from the Participant’s 401(k) Contribution
Account and Roth Qualified Rollover Contribution Account when permitted by and in
accordance with Sections 14.1, 15.1, 15.2, 15.3, 15.4 and 15.5 of the Plan. The
Committee may create an ordering rule as to in what order Roth 401(k)
Contributions are to be distributed in accordance with each section.

     For the purpose of this appendix, Roth 401(k) Contributions are a
contribution of a portion of a 401(k) Participant’s Compensation to the Plan which
are made by the 401(k) Participant pursuant to an Enrollment Designation which is
included in such person’s federal income tax when made, is made in accordance with
Code Section 402A, and is irrevocably designated as Roth 401(k) Contributions at
the time made.

     4. Item 3 of the amendment for the Pension Protection Act of 2006 shall be deleted in its
entirety and the following shall be added to the end of Section 9.3(a):

For the 2007 calendar year, gain or loss shall continue to include the allocable
gain or loss for the period between the end of the calendar year and the date of
distribution to the Participant.

     5. The following shall be added to Section 14.2 at the end thereof, effective for
distributions on and after January 1, 2010.

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Notwithstanding the foregoing in this Section 14.2, (a) the automatic rollover
provisions of item 1 of the Third Amendment shall not apply; and (b) the cash-out
amount set forth in this Section 14.2 shall be reduced to not more than $1,000.

          IN WITNESS WHEREOF, the undersigned has executed this amendment as Plan sponsor for the
benefit of its eligible employees and the eligible employees of all participating companies,
effective as set forth above.

	 	 	 	 	 
	 	WORTHINGTON INDUSTRIES, INC.

 	 
	 	By:  	/s/ Dale T. Brinkman
 	 
	 	 	Print Name:  	Dale T. Brinkman 	 
	 	 	Title:  	Vice President — Secretary 	 
	 

Date: 12-28-2009

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