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EXHIBIT 10.1(b)
THIRD AMENDMENT
TO THE
FIRST AMENDMENT AND RESTATEMENT
OF THE
LABARGE, INC* EMPLOYEES SAVINGS PLAN
(formerly the "LaBarge Retirement Action Plan")
This Plan document executed on March 24, 1994 by the Company,
WITNESSETH
WHEREAS, LaBarge, Inc. established the profit-sharing plans for its
various divisions as follows:
Plan Initial Effective Date
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Profit Sharing Plan for Employees
of LaBarge Electronics Division January 1, 1974
Profit Sharing Plan for Employees
of Management Division January 1, 1974
Profit Sharing Plan for Employees
of Dot-Flex Electronics Division January 1, 1969
Profit-Sharing Plan for Employees
of Wire and Cable Division January 1, 1974
Profit-Sharing Plan for Employees
of LaBarge Tubular Division February 29, 1957
Profit-Sharing Plan for Employees
of Dorsett Electronics Division January 1, 1968
Nelson Employees Profit-Sharing Plan February 29, 1959
WHEREAS, the Company consolidated all such plans into the Plan
effective January 1, 1984; and
WHEREAS, the Plan has been amended as follows:
Effective Date of Date Amendment
Amendment Executed
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April 1, 1986 April 1, 1986
July 1, 1988 September 30, 1988
July 1, 1988 September 30, 1988
July 1, 1988 September 30, 1988
January 1, 1989 December 6, 1988
WHEREAS, the Plan was amended and restated May 3, 1990 effective
January 1, 1987; and
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WHEREAS, the amendment and restatement of the Plan was amended on June
28, 1990 effective July 1, 1990 and on November 30, 1993 effective October 1,
1993; and
WHEREAS, the Company wants to further amend the Plan;
NOW, THEREFORE, the Company amends the Plan as follows effective
January 1, 1994:
1. Delete Section 1.13 and insert the following Section
1,13 in lieu thereof:
1.13 "Compensation" means, with respect to any Participant, the
total amount shown on Internal Revenue Service Form W-2 for a Plan Year
as compensation for Federal Income tax purposes, plus any salary
reduction contributions made on behalf of the Participant pursuant to
Code Sections 1125 and 402(a)(8).
Compensation in excess of $150,000 shall be disregarded. Such
amount shall be adjusted at the same time and in such manner as
permitted under Code Section 415(d). In applying this
limitation, the Family Members of a Highly Compensated Participant who
is subject to the Family Member aggregation rules of Code Section
414(q)(6), because such Participant is either a Five Percent Owner or
one of the ten Highly Compensated Employees paid the greatest Section
415 Compensation during the Plan Year, shall be treated as a single
Participant, except that, for this purpose, Family Members shall
include only the affected Participant's spouse and any lineal
descendants who have not attained age nineteen before the close of the
Plan Year. If, as a result of the application of such rules, the
adjusted $150,000 limit is exceeded, then the limitation shall be
prorated among affected individuals in proportion to each such
individual's Compensation as determined under this Section prior to the
application of this limitation. For Plan Years beginning before 1989,
the adjusted $200,000 limit (without regard to Family Member
aggregation) shall apply only for Top Heavy Plan Years and shall not be
adjusted.
2. Delete Subsection 14.3(a)(ii) and insert the following
new Subsection 14.3(a)(ii) in lieu thereof:
(ii) the ratio determined by aggregating Elective Contributions and
Section 414(s) Compensation of all eligible Family Members (including
Highly Compensated Participants). However, in applying the $150,000
limit to Section 414(s) Compensation, for Plan Years beginning after
December 31, 1993, Family Members shall include only the affected
Employee's spouse and any lineal descendants who
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have not attained age nineteen before the close of the Plan Year.
3. Delete Subsection 15.3(a) and insert the following new
Subsection 15.3(a) in lieu thereof:
(a) The combined Actual Contribution Percentage for the Family
Group (which shall be treated as one Highly Compensated Participant)
shall be the greater of:
(i) The ratio determined by aggregating ACP Contributions and
Section 414(s) Compensation for such Plan Year of all eligible
Family Members who are Highly Compensated Participants, without
regard to family aggregation; and
(ii) The ratio determined by aggregating ACP Contributions and
Section 414(s) Compensation for the Plan Year of all eligible
Family Members (including Highly Compensated Participants).
In applying the $150,000 limit, as adjusted, to Section 414(s)
Compensation for Plan Years beginning after December 31, 1994,
Family Members shall include only the affected Employee's spouse and
any lineal descendants who have not attained the age of nineteen before
the close of the Plan Year.
IN WITNESS WHEREOF, LaBarge, Inc. has adopted this Plan
amendment on the date and year first above written.
LABARGE, INC.
By Craig E.LaBarge
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President
ATTEST:
William H.Maendu
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Secretary
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