Exhibit 99.5
FOURTH AMENDMENT
TO THE
HUNTINGTON INGALLS INDUSTRIES SAVINGS PLAN
This amendment to the July 1, 2021 restatement of the Huntington Ingalls Industries Savings Plan (“Plan”) incorporates changes to reflect (i) benefit changes in light of the reorganization of the Company’s Mission Technologies division, and (ii) participating employers as of July 1, 2023.
Effective July 1, 2023, the Plan is hereby amended as follows:
| I. | The last sentence of Section 5.06(f) is hereby amended to read as follows: |
“In addition, any Eligible Employee who becomes an Employee of HII Defense and Federal Solutions, Inc. on or after December 21, 2020 and is assigned to BPC Code NCA (the division formally associated with the entities formerly known as The PTR Group, LLC and G2, Inc.), shall be eligible to receive a nondiscretionary contribution in an amount equal to four percent (4%) of Compensation while such Eligible Employee remains employed by HII Defense and Federal Solutions, Inc. or such other Mission Technologies division Employer while assigned to BPC Code NCA; provided, however, that Eligible Employees employed by Employer Entity 626 on and after July 1, 2023 and assigned to BPC Code NCA will no longer be eligible for such discretionary contribution with respect to Compensation paid after June 30, 2023.
| II. | The chart of “List of Participating Employers” in EXHIBIT A is amended, effective July 1, 2023, in substantially the form attached hereto. |
IN WITNESS WHEREOF, Huntington Ingalls Industries, Inc. has caused this amendment to be executed by its duly authorized representative on this 30th day of June, 2023.
| HUNTINGTON INGALLS INDUSTRIES, INC. | ||
By
| /s/ Edmond Hughes | |
Edmond Hughes | ||
Executive Vice President and Chief Human | ||
Resources Officer | ||
EXHIBIT A
Coverage
Participating Employers
The following chart provides information regarding the reporting entity, employer, entity code, and applicable Sub-Plan of each group of Employees eligible to participate in the Plan as of July 1, 2023. Notwithstanding the information in this Exhibit A, those Employees designated by the Company’s Chief Executive Officer or the Company’s Executive Vice President and Chief Human Resources Officer as elected or appointed officers of Huntington Ingalls Industries International Shipbuilding, Inc. or of Huntington Ingalls Incorporated, through its Ingalls Shipbuilding division (non-represented employees) shall participate in Sub-Plan A. This Exhibit A does not apply with respect to certain represented Employees who are eligible to actively participate in the Plan under Appendix J (e.g., certain Employees represented by the Steelworkers, Fire Fighters and Guards unions).
| Sector | Employer | Entity Code | Sub-Plan | |||
| NNS | Huntington Ingalls Incorporated – NNS Division (non-represented employees and Abu Dhabi) - excluding Temporary Hourly* | 265 | A | |||
Effective July 1, 2021: | ||||||
• Employees employed on June 30, 2021 who (i) actively participate in an HII pension plan or (ii) are eligible for Retirement Account Contributions as of such date remain in Sub-Plan A | A | |||||
• Employees hired or rehired on or after July 1, 2021 | AB | |||||
• Represented employees who transfer to a non-represented position or non-represented employees who transfer from a Temporary Hourly to an eligible full-time position after June 30, 2021 who (i) are not eligible to actively participate in an HII pension plan or (ii) are not eligible for Retirement Account Contributions as of such date | AB | |||||
• Represented employees who transfer to a non-represented position or non-represented employees who transfer from a Temporary Hourly after June 30, 2021 who (i) are eligible to actively participate in an HII pension plan or (ii) are eligible for Retirement Account Contributions as of such date | A | |||||
| Sector | Employer | Entity Code | Sub-Plan | |||
NNS | HII Mechanical Inc. (NNIC): non-represented employees (excluding Temporary Hourly) in the following groups:
1. employees who commence employment with NNIC before March 24, 2014,
2. employees who commence employment with the Company or an Affiliated Company (other than NNIC) and transfer to NNIC before March 24, 2014,
3. employees who commence employment with the Company or an Affiliated Company (other than NNIC) and transfer to NNIC directly from a participating Employer in the Plan on or after March 24, 2014, and
4. employees of NNIC who transfer from Temporary Hourly status to full-time status before March 24, 2014. | 272 | A | |||
| NNS | HII Mechanical Inc. (NNIC): non-represented employees (excluding Temporary Hourly employees) in the following groups:
1. employees who commence employment with NNIC on or after March 24, 2014,
2. employees who commence employment with the Company or an Affiliated Company (other than NNIC) and transfer to NNIC directly from a non-participating Employer in the Plan on or after March 24, 2014, and
3. employees of NNIC who transfer from Temporary Hourly status to full-time status on or after March 24, 2014. | 272 | D | |||
| Sector | Employer | Entity Code | Sub-Plan | |||
| NNS | HII Mechanical Inc. (NNIC): non-represented employees (excluding Temporary Hourly employees) in the following groups:* | 272 | A | |||
| 1. employees who commence employment with NNIC on or after July 1, 2018, | ||||||
| 2. employees who commence employment with the Company or an Affiliated Company (other than NNIC) and transfer to NNIC directly from a non-participating Employer in the Plan on or after July 1, 2018, | ||||||
| 3. employees of NNIC who transfer from Temporary Hourly status to full-time status on or after July 1, 2018, | ||||||
| 4. employees of NNIC who, as of June 30, 2018, were participating in Sub-Plan D. | ||||||
| Effective July 1, 2021: | ||||||
• Employees employed on June 30, 2021 who (i) actively participate in an HII pension plan or (ii) are eligible for Retirement Account Contributions as of such date remain in Sub-Plan A | A | |||||
i. Effective January 1, 2023, Employees of the HII Mechanical Production and Support business who are actively participating in the Cash Balance Program as of January 2, 2023 and who become represented by the United Steelworkers of America and its Local No. 8888, shall remain in Sub-Plan A and will not be eligible for Retirement Account Contributions. | A | |||||
• Employees employed on June 30, 2021 who neither (i) actively participate in an HII pension plan nor (ii) are eligible for Retirement Account Contributions as of such date | AB - with respect to Compensation paid on or after July 1, 2021 | |||||
• Employees hired or rehired on or after July 1, 2021 | AB | |||||
| Sector | Employer | Entity Code | Sub-Plan | |||
• Represented employees who transfer to a non-represented position or non-represented employees who transfer from a Temporary Hourly to an eligible full-time position after June 30, 2021 who (i) are not eligible to actively participate in an HII pension plan or (ii) are not eligible for Retirement Account Contributions as of such date | AB | |||||
• Represented employees who transfer to a non-represented position or non-represented employees who transfer from a Temporary Hourly after June 30, 2021 who (i) are eligible to actively participate in an HII pension plan or (ii) are eligible for Retirement Account Contributions as of such date | A | |||||
Ingalls | Huntington Ingalls Industries International Shipbuilding, Inc. (non-represented)* | 144 | CC - with respect to Compensation paid prior to July 1, 2021 | |||
Effective July 1, 2021: | ||||||
• Employees employed on June 30, 2021 who (i) actively participate in an HII pension plan or (ii) are eligible for Retirement Account Contributions as of such date | A - with respect to Compensation paid on or after July 1, 2021 | |||||
• Employees hired or rehired on or after July 1, 2021 | AA | |||||
• Represented employees who transfer to a non-represented position after June 30, 2021 who (i) are not eligible to actively participate in an HII pension plan or (ii) are not eligible for Retirement Account Contributions as of such date | AA | |||||
• Represented employees who transfer to a non-represented position after June 30, 2021 who (i) are eligible to actively participate in an HII pension plan or (ii) are eligible for Retirement Account Contributions as of such date | A | |||||
| Sector | Employer | Entity Code | Sub-Plan | |||
Ingalls | Huntington Ingalls Incorporated – Ingalls Division (non-represented employees)* | 146 | CC - with respect to Compensation paid prior to July 1, 2021 | |||
| Effective July 1, 2021: | ||||||
• Employees employed on June 30, 2021 who (i) actively participate in an HII pension plan or (ii) are eligible for Retirement Account Contributions as of such date | A - with respect to Compensation paid on or after July 1, 2021 | |||||
• Employees hired or rehired on or after July 1, 2021 | AA | |||||
• Represented employees who transfer to a non-represented position after June 30, 2021 who (i) are not eligible to actively participate in an HII pension plan or (ii) are not eligible for Retirement Account Contributions as of such date | AA | |||||
• Represented employees who transfer to a non-represented position after June 30, 2021 who (i) are eligible to actively participate in an HII pension plan or (ii) are eligible for Retirement Account Contributions as of such date | A | |||||
MT | Newport News Nuclear Inc. (non-represented) (salaried employees only) | 473 | A | |||
MT | HII Energy Inc. (non-represented) | 492 | A | |||
Corp | HII Services Corporation (effective September 25, 2014) (non-represented)* | 520 | A | |||
| Effective July 1, 2021: | ||||||
• Employees employed on June 30, 2021 who (i) actively participate in an HII pension plan or (ii) are eligible for Retirement Account Contributions as of such date remain in Sub-Plan A | A | |||||
| Sector | Employer | Entity Code | Sub-Plan | |||
• Employees hired or rehired on or after July 1, 2021 | AB | |||||
• Represented employees who transfer to a non-represented position after June 30, 2021 who (i) are not eligible to actively participate in an HII pension plan or (ii) are not eligible for Retirement Account Contributions as of such date | AB | |||||
• Represented employees who transfer to a non-represented position after June 30, 2021 who (i) are eligible to actively participate in an HII pension plan or (ii) are eligible for Retirement Account Contributions as of such date | A | |||||
| MT | HII Nuclear Inc. | 515 | A - with respect to Compensation paid for pay periods before July 1, 2022
AL - with respect to Compensation paid for pay periods beginning on or after July 1, 2022 | |||
| MT | HII Fleet Support Group LLC | 480 | H | |||
| MT | HII Defense and Federal Solutions, Inc. (formerly known as HII Mission Driven Innovative Solutions Inc. - other than employees who are covered under the terms of the collective bargaining agreement between the Employer and the International Association of Machinist and Aerospace Workers and its Local W-24); for purposes of the Plan, as of December 31, 2022, merged into HII Mission Technologies Corp. (Entity 626), in connection with the Mission Technologies division reorganization. | 527 | I - with respect to Compensation paid prior to July 1, 2020
A - with respect to Compensation paid on or after July 1, 2020 and for pay periods before July 1, 2022 | |||
| Sector | Employer | Entity Code | Sub-Plan | |||
| AL - with respect to Compensation paid for pay periods beginning on or after July 1, 2022 | ||||||
| MT | HII Defense and Federal Solutions, Inc. (formerly known as HII Mission Driven Innovative Solutions Inc. - employees who are covered under the terms of the collective bargaining agreement between the Employer and the International Association of Machinist and Aerospace Workers and its Local W-24); for the avoidance of doubt, Eligible Employees assigned to BPC Code NBZ (Klamath Falls) are not eligible for match and assigned to Sub-Plan D; for purposes of the Plan, as of December 31, 2022, merged into HII Mission Technologies Corp. (Entity 626) in connection with the Mission Technologies division reorganization | 527 | D | |||
| MT | Veritas Analytics, Inc. (other than employees who are covered under the terms of the collective bargaining agreement between the Employer and the International Association of Machinist and Aerospace Workers and its Local W-24) | 529 | I - with respect to Compensation paid prior to July 1, 2020
A - with respect to Compensation paid on or after July 1, 2020 | |||
| MT | Veritas Analytics, Inc. (employees who are covered under the terms of the collective bargaining agreement between the Employer and the International Association of Machinist and Aerospace Workers and its Local W-24) | 529 | D | |||
| MT | HII Technical Solutions Corporation | 525 | A - with respect to Compensation paid for pay periods before July 1, 2022
AL - with respect to Compensation paid for pay periods beginning on or after July 1, 2022 | |||
| Sector | Employer | Entity Code | Sub-Plan | |||
| Entity/BPC | Sub-Plan | |||||
| The following applies with respect to Compensation paid on or after January 1, 2023 for those Eligible Employees who transfer from Entities 480, 527 or 626 to Entity 525 in connection with the reorganization of the Mission Technologies division. | 480/NBH,XDU 527/NCA, NCB 527/NBZ 626/NCE 626/NCG | H AL D AL AB
| ||||
| Effective July 1, 2023, Eligible Employees assigned to BPC Code XDU were transferred to BPC Code BAP. The following applies with respect to Compensation paid on or after July 1, 2023 for those Eligible Employees assigned to BPC Code BAP on and after July 1, 2023: | BPC BAP | Sub-Plan AL | ||||
| MT | HII Unmanned Systems, Inc. (formerly known as Hydroid, Inc.) | 540 | HD - with respect
US - with respect | |||
| Sector | Employer | Entity Code | Sub-Plan | |||
| MT | Alion Science and Technology Corporation - Eligible Employees assigned to BPC Code NCE on and after July 1, 2022; Employees assigned to BPC Code NCF are not HISP eligible; for Plan purposes, changed name to HII Mission Technologies Corp. effective December 31, 2022, in connection with the Mission Technologies division reorganization. | 626 | AL | |||
The following applies with respect to Compensation paid on or after January 1, 2023 for those Eligible Employees of Entity 527 who become Employees of Entity 626 in connection with the reorganization of the Mission Technologies division:
| Entity/BPC 527/NCA, NCB 527/NBZ | Sub-Plan AL D | ||||
| Effective July 1, 2023, certain Eligible Employees assigned to BPC Code NCE were transferred to BPC Code NCA as part of the Hangar Program. The following applies with respect to Compensation paid on or after July 1, 2023 for Eligible Employees assigned to BPC Code NCA on and after July 1, 2023: | BPC NCA | Sub-Plan AB | ||||
| MT | Alion Science and Technology Corporation - Eligible Employees assigned to BPC Code NCG on and after July 1, 2022; for Plan purposes, changed name to HII Mission Technologies Corp. effective December 31, 2022, in connection with the Mission Technologies division reorganization | 626 | AB - with respect to Compensation paid for pay periods beginning on or after July 1, 2022 | |||
| * | Certain pension-eligible employees rehired within two-years of termination may regain their pension eligibility under plan rules. To the extent any such rehired employee actively accrues pension benefits, he/she will not be eligible for the enhanced match provided under Sub-Plans AA or AB and will instead be eligible for match under Sub-Plan A. |
