EXHIBIT 4.3
THE CORPORATEPLAN
FOR RETIREMENT(SM)
(PROFIT SHARING/401(K) PLAN)
A FIDELITY PROTOTYPE PLAN
NON-STANDARDIZED ADOPTION AGREEMENT NO.001
FOR USE WITH
FIDELITY BASIC PLAN DOCUMENT NO.02
Plan Number: 48295
The CORPORATEplan for Retirement(SM)" Non-Std PS Plan
10/09/2003
(C)2003 FMR Corp.
All rights reserved.
ADOPTION AGREEMENT
ARTICLE 1
NON-STANDARDIZED PROFIT SHARING/401(K) PLAN
1.01 PLAN INFORMATION
(a) NAME OF PLAN:
This is the Compass Minerals International, Inc. Savings Plan (the
"Plan")
(b) TYPE OF PLAN:
(1) [ ] 401(k) Only
(2) [X] 401(k) and Profit Sharing
(3) [ ] Profit Sharing Only
(c) ADMINISTRATOR NAME (IF NOT THE EMPLOYER):
____________________________________________________________________
Address: __________________________________________________
__________________________________________________
Telephone Number: __________________________________________________
The Administrator is the agent for service of legal process for the
Plan.
(d) PLAN YEAR END (month/day): 12/31
(e) THREE DIGIT PLAN NUMBER: 001
(f) LIMITATION YEAR (check one):
(1) [ ] Calendar Year
(2) [X] Plan Year
(3) [ ] Other: __________________________________
(g) PLAN STATUS (check appropriate box(es)):
(1) [ ] New Plan Effective Date: ____________________________
(2) [X] Amendment Effective Date: 12/31/2004
This is (check one):
Plan Number: 48295
The CORPORATEplan for Retirement(SM) Non-Std PS Plan
10/09/2003
(C)2003 FMR Corp.
All rights reserved.
1
(A) [X] an amendment and restatement of a Basic Plan
Document No. 02 Adoption Agreement previously
executed by the Employer; or
(B) [ ] a conversion to a Basic Plan Document No. 02
Adoption Agreement.
The original effective date of the Plan: 10/1/2001
(3) [ ] This is an amendment and restatement of the Plan and the
Plan was not amended prior to the effective date
specified in Subsection 1.01(g)(2) above to comply with
the requirements of the Acts specified in the Snap Off
Addendum to the Adoption Agreement. The provisions
specified in the Snap Off Addendum are effective as of
the dates specified in the Snap Off Addendum, which
dates may be prior to the Amendment Effective Date.
Please read and complete, if necessary, the Snap Off
Addendum to the Adoption Agreement.
(4) [ ] SPECIAL EFFECTIVE DATES - Certain provisions of the Plan
shall be effective as of a date other than the date
specified above. Please complete the Special Effective
Dates Addendum to the Adoption Agreement indicating the
affected provisions and their effective dates.
(5) [X] PLAN MERGER EFFECTIVE DATES. Certain plan(s) were merged
into the Plan and certain provisions of the Plan are
effective with respect to the merged plan(s) as of a
date other than the date specified above. Please
complete the Special Effective Dates Addendum to the
Adoption Agreement indicating the plan(s) that have
merged into the Plan and the effective date(s) of such
merger(s).
1.02 EMPLOYER
(a) EMPLOYER NAME: Compass Minerals International, Inc.
Address: 8300 College Boulevard
Overland Park, KS 66210
Contact's Name: Mr. Delos Decelle Jr.
Telephone Number: (913)344-9240
(1) Employer's Tax Identification Number: 36-3972986
(2) Employer's fiscal year end: 12/31
(3) Date business commenced: 10/1/2001
(b) THE TERM "EMPLOYER" INCLUDES THE FOLLOWING RELATED EMPLOYER(S) (AS
DEFINED IN SUBSECTION 2.01(rr)) (list each participating Related
Employer and its Employer Tax Identification Number):
Employer: Tax ID:
Carey Salt Company 13-3563048
Great Salt Lake Minerals Corporation 87-0274174
North American Salt Company 48-1047632
Compass Minerals Group 48-1135403
Plan Number: 48295
The CORPORATEplan for Retirement(SM) Non-Std PS Plan
10/09/2003
(C)2003 FMR Corp.
All rights reserved.
2
1.03 TRUSTEE
(a) TRUSTEE NAME: Fidelity Management Trust Company
Address: 82 Devonshire Street
Boston, MA 02109
1.04 COVERAGE
All EMPLOYEES WHO MEET THE CONDITIONS SPECIFIED BELOW SHALL BE ELIGIBLE TO
PARTICIPATE IN THE PLAN:
(a) AGE REQUIREMENT (check one):
(1) [X] no age requirement.
(2) [ ] must have attained age: _____________(NOT TO EXCEED 21).
(b) ELIGIBILITY SERVICE REQUIREMENT
(1) ELIGIBILITY TO PARTICIPATE IN PLAN (check one):
(A) [X] no Eligibility Service requirement.
(B) [ ] ______ (NOT TO EXCEED 11) months of Eligibility
Service requirement (no minimum number Hours of
Service can be required).
(C) [ ] one year of Eligibility Service requirement (at
least 1,000 Hours of Service are required during
the Eligibility Computation Period).
(D) [ ] two years of Eligibility Service requirement (at
least 1,000 Hours of Service are required during
each Eligibility Computation Period). (DO NOT
SELECT IF OPTION 1.01(b)(1), 401(k) ONLY, IS
CHECKED, UNLESS A DIFFERENT ELIGIBILITY SERVICE
REQUIREMENT APPLIES TO DEFERRAL CONTRIBUTIONS
UNDER OPTION 1.04(b)(2).)
NOTE: If the Employer selects the two year Eligibility
Service requirement, then contributions subject to such
Eligibility Service requirement must be 100% vested when
made.
(2) [ ] SPECIAL ELIGIBILITY SERVICE REQUIREMENT FOR DEFERRAL
CONTRIBUTIONS AND/OR MATCHING EMPLOYER CONTRIBUTIONS:
(A) The special Eligibility Service requirement applies to
(check the appropriate box(es)):
(i) [ ] Deferral Contributions.
(ii) [ ] Matching Employer Contributions.
Plan Number: 48295
The CORPORATEplan for Retirement(SM) Non-Std PS Plan
10/09/2003
(C)2003 FMR Corp.
All rights reserved.
3
(B) The special Eligibility Service requirement is: ______
(Fill in (A), (B), or (C) from Subsection 1.04(b)(1)
above).
(C) ELIGIBLE CLASS OF EMPLOYEES (check one):
NOTE: The Plan may not cover employees who are residents of Puerto Rico.
These employees are automatically excluded from the eligible class,
regardless of the Employer's selection under this Subsection 1.04(c).
(1) [ ] includes all Employees of the Employer.
(2) [X] includes all Employees of the Employer except for (check the
appropriate box(es)):
(A) [ ] employees covered by a collective bargaining agreement.
(B) [ ] Highly Compensated Employees as defined in Code Section
414(q).
(C) [X] Leased Employees as defined in Subsection 2.01(cc).
(D) [ ] nonresident aliens who do not receive any earned income
from the Employer which constitutes United States source
income.
(E) [ ] other:
__________________________________________
__________________________________________
NOTE: The Employer should exercise caution when excluding
employees from participation in the Plan. Exclusion of
employees may adversely affect the Plan's satisfaction of the
minimum coverage requirements, as provided in Code Section
410(b).
(d) THE ENTRY DATES SHALL BE (check one):
(1) [X] immediate upon meeting the eligibility requirements
specified in Subsections 1.04(a), (b), and (c).
(2) [ ] the first day of each Plan Year and the first day of the
seventh month of each Plan Year.
(3) [ ] the first day of each Plan Year and the first day of the
fourth, seventh, and tenth months of each Plan Year.
(4) [ ] the first day of each month.
(5) [ ] the first day of each Plan Year. (DO NOT SELECT IF THERE
IS AN ELIGIBILITY SERVICE REQUIREMENT OF MORE THAN SIX
MONTHS IN SUBSECTION 1.04(b) OR IF THERE IS AN AGE
REQUIREMENT OF MORE THAN 20 1/2 IN SUBSECTION 1.04(a).)
(e) [ ] SPECIAL ENTRY DATE(S) - In addition to the Entry Dates specified
in Subsection 1.04(d) above, the following special Entry Date(s)
apply for Deferral and/or Matching Employer Contributions. (SPECIAL
ENTRY DATES MAY ONLY BE SELECTED IF OPTION 1.04(b)(2), SPECIAL
ELIGIBILITY SERVICE REQUIREMENT, IS CHECKED. THE SAME
Plan Number: 48295
The CORPORATEplan for Retirement(SM) Non-Std PS Plan
10/09/2003
(C)2003 FMR Corp.
All rights reserved.
4
ENTRY DATES MUST BE SELECTED FOR CONTRIBUTIONS THAT ARE
SUBJECT TO THE SAME ELIGIBILITY SERVICE REQUIREMENTS.)
(1) The special Entry Date(s) shall apply to (check the
appropriate box(es)):
(A) [ ] Deferral Contributions.
(B) [ ] Matching Employer Contributions.
(2) The special Entry Date(s) shall be: _______(Fill in (1), (2),
(3), (4), or (5) from Subsection 1.04(d) above).
(f) DATE OF INITIAL PARTICIPATION - An Employee shall become a
Participant unless excluded by Subsection 1.04(c) above on the Entry
Date immediately following the date the Employee completes the
service and age requirement(s) in Subsections 1.04(a) and (b), if
any, except (check one):
(1) [X] no exceptions.
(2) [ ] Employees employed on the Effective Date in Subsection
1.01(g)(l) or (2) shall become Participants on that
date.
(3) [ ] Employees who meet the age and service requirement(s) of
Subsections 1.04(a) and (b) on the Effective Date in
Subsection 1.01(g)(1) or (2) shall become Participants
on that date.
1.05 COMPENSATION
COMPENSATION FOR PURPOSES OF DETERMINING CONTRIBUTIONS SHALL BE AS DEFINED
IN SECTION 5.02, MODIFIED AS PROVIDED BELOW.
(a) COMPENSATION EXCLUSIONS: Compensation shall exclude the item(s)
listed below for purposes of determining Deferral Contributions,
Employee Contributions, if any, and Qualified Nonelective Employer
Contributions, or, if Subsection 1.01(b)(3), Profit Sharing Only, is
selected, Nonelective Employer Contributions. Unless otherwise
indicated in Subsection 1.05(b), these exclusions shall also apply
in determining all other Employer-provided contributions. (Check the
appropriate box(es); Options (2), (3), (4), (5), and (6) may not be
elected with respect to Deferral Contributions if Option 1.10(a)(3),
Safe Harbor Matching Employer Contributions, is checked):
(1) [ ] No exclusions.
(2) [ ] Overtime Pay.
(3) [ ] Bonuses.
(4) [ ] Commissions.
(5) [ ] The value of a qualified or a non-qualified stock option
granted to an Employee by the Employer to the extent
such value is includable in the Employee's taxable
income.
(6) [X] Severance Pay.
Plan Number: 48295
The CORPORATEplan for Retirement(SM) Non-Std PS Plan
10/09/2003
(C)2003 FMR Corp.
All rights reserved.
5
(b) SPECIAL COMPENSATION EXCLUSIONS FOR DETERMINING EMPLOYER-PROVIDED
CONTRIBUTIONS IN ARTICLE 5 (either (1) or (2) may be selected, but
not both):
(1) [ ] Compensation for purposes of determining Matching,
Qualified Matching, and Nonelective Employer
Contributions shall exclude: ___________________ (Fill
in number(s) for item(s) from Subsection 1.05(a) above
that apply.)
(2) [ ] Compensation for purposes of determining Nonelective
Employer Contributions only shall exclude:
________________ (Fill in number(s) for item(s) from
Subsection 1.05(a) above that apply.)
NOTE: If the Employer selects Option (2), (3), (4), (5), or
(6) with respect to Nonelective Employer Contributions,
Compensation must be tested to show that it meets the
requirements of Code Section 414(s) or 401(a)(4). These
exclusions shall not apply for purposes of the "Top Heavy"
requirements in Section 15.03, for allocating safe harbor
Matching Employer Contributions if Subsection 1.10(a)(3) is
selected, for allocating safe harbor Nonelective Employer
Contributions if Subsection 1.11(a)(3) is selected, or for
allocating non-safe harbor Nonelective Employer Contributions
if the Integrated Formula is elected in Subsection 1.11(b)(2).
(c) COMPENSATION FOR THE FIRST YEAR OF PARTICIPATION - Contributions for
the Plan Year in which an Employee first becomes a Participant shall
be determined based on the Employee's Compensation (check one):
(1) [ ] for the entire Plan Year.
(2) [X] for the portion of the Plan Year in which the Employee
is eligible to participate in the Plan.
NOTE: If the initial Plan Year of a new Plan consists of fewer
than 12 months from the Effective Date in Subsection
1.01(g)(1) through the end of the initial Plan Year,
Compensation for purposes of determining the amount of
contributions, other than non-safe harbor Nonelective Employer
Contributions, under the Plan shall be the period from such
Effective Date through the end of the initial year. However,
for purposes of determining the amount of non-safe harbor
Nonelective Employer Contributions and for other Plan
purposes, where appropriate, the full 12-consecutive-month
period ending on the last day of the initial Plan Year shall
be used.
1.06 TESTING RULES
(a) ADP/ACP PRESENT TESTING METHOD - The testing method for purposes of
applying the "ADP" and "ACP" tests described in Sections 6.03 and
6.06 of the Plan shall be the (check one):
(1) [X] CURRENT YEAR TESTING METHOD - The "ADP" or "ACP" of
Highly Compensated Employees for the Plan Year shall be
compared to the "ADP" or "ACP" of Non-Highly
Compensated Employees for the same Plan Year. (MUST
CHOOSE IF OPTION 1.10(a)(3), SAFE HARBOR MATCHING
EMPLOYER CONTRIBUTIONS, OR OPTION 1.11(a)(3), SAFE
HARBOR FORMULA, WITH RESPECT TO NONELECTIVE EMPLOYER
CONTRIBUTIONS IS CHECKED.)
(2) [ ] PRIOR YEAR TESTING METHOD - The "ADP" or "ACP" of
Highly Compensated Employees for the Plan Year shall be
compared to the "ADP" or "ACP" of Non-Highly
Compensated Employees for the immediately preceding
Plan Year. (DO NOT CHOOSE IF OPTION 1.10(a)(3), SAFE
HARBOR MATCHING EMPLOYER CONTRIBUTIONS, OR OPTION
1.11(a)(3), SAFE HARBOR FORMULA, WITH RESPECT TO
NONELECTIVE EMPLOYER CONTRIBUTIONS IS CHECKED.)
Plan Number: 48295
The CORPORATEplan for Retirement(SM) Non-Std PS Plan
10/09/2003
(C) 2003 FMR Corp.
All rights reserved.
6
(3) [ ] Not applicable. (ONLY IF OPTION 1.01(b)(3), PROFIT
SHARING ONLY, IS CHECKED OR OPTION 1.04(c)(2)(B),
EXCLUDING ALL HIGHLY COMPENSATED EMPLOYEES FROM THE
ELIGIBLE CLASS OF EMPLOYEES, IS CHECKED.)
NOTE: Restrictions apply on elections to change testing methods that
are made after the end of the GUST remedial amendment period.
(b) FIRST YEAR TESTING METHOD - If the first Plan Year that the Plan,
other than a successor plan, permits Deferral Contributions or
provides for either Employee or Matching Employer Contributions,
occurs on or after the Effective Date specified in Subsection
1.01(g), the "ADP" and/or "ACP" test for such first Plan Year shall
be applied using the actual "ADP" and/or "ACP" of Non-Highly
Compensated Employees for such first Plan Year, unless otherwise
provided below.
(1) [ ] The "ADP" and/or "ACP" test for the first Plan Year
that the Plan permits Deferral Contributions or
provides for either Employee or Matching Employer
Contributions shall be applied assuming a 3% "ADP"
and/or "ACP" for Non-Highly Compensated Employees. (DO
NOT CHOOSE UNLESS PLAN USES PRIOR YEAR TESTING METHOD
DESCRIBED IN SUBSECTION 1.06(a)(2).)
(c) HCE DETERMINATIONS: LOOK BACK YEAR - The look back year for purposes
of determining which Employees are Highly Compensated Employees
shall be the 12-consecutive-month period preceding the Plan Year,
unless otherwise provided below.
(1) [ ] CALENDAR YEAR DETERMINATION - The look back year shall
be the calendar year beginning within the preceding
Plan Year. (DO NOT CHOOSE IF THE PLAN YEAR IS THE
CALENDAR YEAR.)
(d) HCE DETERMINATIONS: TOP PAID GROUP ELECTION - All Employees with
Compensation exceeding $80,000 (as indexed) shall be considered
Highly Compensated Employees, unless Top Paid Group Election below
is checked.
(1) [ ] TOP PAID GROUP ELECTION - Employees with Compensation
exceeding $80,000 (as indexed) shall be considered
Highly Compensated Employees only if they are in the
top paid group (the top 20% of Employees ranked by
Compensation).
NOTE: Effective for determination years beginning on or after
January 1, 1998, if the Employer elects Option 1.06(c)(1) and/or
1.06(d)(1), such election(s) must apply consistently to all
retirement plans of the Employer for determination years that begin
with or within the same calendar year (except that Option
1.06(c)(1), Calendar Year Determination, shall not apply to calendar
year plans).
1.07 DEFERRAL CONTRIBUTIONS
(a) [X] DEFERRAL CONTRIBUTIONS - Participants may elect to have a
portion of their Compensation contributed to the Plan on a
before-tax basis pursuant to Code Section 401 (k).
(1) REGULAR CONTRIBUTIONS - The Employer shall make a Deferral
Contribution in accordance with Section 5.03 on behalf of each
Participant who has an executed salary reduction agreement in
effect with the Employer for the payroll period in question,
not to exceed 60% of Compensation for that period.
NOTE: For Limitation Years beginning prior to 2002, the
percentage elected above must be less than 25% in order to
satisfy the limitation on annual additions under Code Section
415 if other types of contributions are provided under the
Plan.
Plan Number: 48295
The CORPORATEplan for Retirement(SM) Non-Std PS Plan
10/09/2003
(C) 2003 FMR Corp.
All rights reserved.
7
(A) [ ] Instead of specifying a percentage of Compensation, a
Participant's salary reduction agreement may specify a dollar
amount to be contributed each payroll period, provided such
dollar amount does not exceed the maximum percentage of
Compensation specified in Subsection 1.07(a)(1) above.
(B) A Participant may increase or decrease, on a prospective basis, his
salary reduction agreement percentage (check one):
(i) [ ] as of the beginning of each payroll period.
(ii) [ ] as of the first day of each month.
(iii) [ ] as of the next Entry Date. (DO NOT SELECT IF IMMEDIATE
ENTRY IS ELECTED WITH RESPECT TO DEFERRAL CONTRIBUTIONS
IN SUBSECTION 1.04(d) OR 1.04(e).)
(iv) [X] other. (Specify, but must be at least once per Plan
Year)
any time
NOTE: Notwithstanding the Employer's election hereunder, if Option
1.10(a)(3), Safe Harbor Matching Employer Contributions, or
1.11(a)(3), Safe Harbor Formula, with respect to Nonelective
Employer Contributions is checked, the Plan provides that an Active
Participant may change his salary reduction agreement percentage for
the Plan Year within a reasonable period (not fewer than 30 days) of
receiving the notice described in Section 6.10.
(C) A Participant may revoke, on a prospective basis, a salary reduction
agreement at any time upon proper notice to the Administrator but in
such case may not file a new salary reduction agreement until (check
one):
(i) [ ] the first day of the next Plan Year.
(ii) [ ] any subsequent Entry Date. (DO NOT SELECT IF IMMEDIATE
ENTRY IS ELECTED WITH RESPECT TO DEFERRAL CONTRIBUTIONS
IN SUBSECTION 1.04(d) OR 1.04(e).)
(iii) [X] other. (Specify, but must be at least once per Plan
Year)
any time
(2) [ ] ADDITIONAL DEFERRAL CONTRIBUTIONS - The Employer may allow
Participants upon proper notice and approval to enter into a special
salary reduction agreement to make additional Deferral Contributions
in an amount up to 100% of their Compensation for the payroll
period(s) designated by the Employer.
(3) [X] BONUS CONTRIBUTIONS - The Employer may allow Participants upon
proper notice and approval to enter into a special salary reduction
agreement to make Deferral Contributions in an amount up to 100% of
any Employer paid cash bonuses designated by the Employer on a
uniform and non-discriminatory basis that are made for such
Participants during the Plan Year. The Compensation definition
elected by the Employer in Subsection 1.05(a) must include bonuses
if bonus contributions are permitted.
Plan Number: 48295
The CORPORATEplan for Retirement(SM) Non-Std PS Plan
10/09/2003
(C) 2003 FMR Corp.
All rights reserved.
8
NOTE: A Participant's contributions under Subsection 1.07(a)(2)
and/or (3) may not cause the Participant to exceed the percentage
limit specified by the Employer in Subsection 1.07(a)(1) for the
full Plan Year. If the Administrator anticipates that the Plan will
not satisfy the "ADP" and/or "ACP" test for the year, the
Administrator may reduce the rate of Deferral Contributions of
Participants who are Highly Compensated Employees to an amount
objectively determined by the Administrator to be necessary to
satisfy the "ADP" and/or "ACP" test.
1.08 EMPLOYEE CONTRIBUTIONS (AFTER-TAX CONTRIBUTIONS)
(a) [X] EMPLOYEE CONTRIBUTIONS - Either (1) Participants will be
permitted to contribute amounts to the Plan on an after-tax
basis or (2) the Employer maintains frozen Employee
Contributions Accounts (check one):
(1) [X] FUTURE EMPLOYEE CONTRIBUTIONS - Participants may make
voluntary, non-deductible, after-tax Employee
Contributions pursuant to Section 5.04 of the Plan.
(ONLY IF OPTION 1.07(a), DEFERRAL CONTRIBUTIONS, IS
CHECKED.)
(2) [ ] FROZEN EMPLOYEE CONTRIBUTIONS - Participants may not
currently make after-tax Employee Contributions to the
Plan, but the Employer does maintain frozen Employee
Contributions Accounts.
1.09 QUALIFIED NONELECTIVE CONTRIBUTIONS
(a) QUALIFIED NONELECTIVE EMPLOYER CONTRIBUTIONS - If Option 1.07(a),
Deferral Contributions, is checked, the Employer may contribute an
amount which it designates as a Qualified Nonelective Employer
Contribution to be included in the "ADP" or "ACP" test. Unless
otherwise provided below, Qualified Nonelective Employer
Contributions shall be allocated to Participants who were eligible
to participate in the Plan at any time during the Plan Year and are
Non-Highly Compensated Employees either (A) in the ratio which each
Participant's "testing compensation", as defined in Subsection
6.01(t), for the Plan Year bears to the total of all Participants'
"testing compensation" for the Plan Year or (B) as a flat dollar
amount.
(1) [ ] Qualified Nonelective Employer Contributions shall be
allocated to Participants as a percentage of the lowest
paid Participant's "testing compensation", as defined
in Subsection 6.01(t), for the Plan Year up to the
lower of (A) the maximum amount contributable under the
Plan or (B) the amount necessary to satisfy the "ADP"
or "ACP" test. If any Qualified Nonelective Employer
Contribution remains, allocation shall continue in the
same manner to the next lowest paid Participants until
the Qualified Nonelective Employer Contribution is
exhausted.
1.10 MATCHING EMPLOYER CONTRIBUTIONS (ONLY IF OPTION 1.07(a), DEFERRAL
CONTRIBUTIONS, IS CHECKED)
(a) [X] BASIC MATCHING EMPLOYER CONTRIBUTIONS (check one):
(1) [ ] NON-DISCRETIONARY MATCHING EMPLOYER CONTRIBUTIONS - The
Employer shall make a basic Matching Employer
Contribution on behalf of each Participant in an amount
equal to the following percentage of a Participant's
Deferral Contributions during the Contribution Period
(check (A) or (B) and, if applicable, (C)):
NOTE: Effective for Plan Years beginning on or after January
1, 1999, if the Employer elected Option 1.11(a)(3), Safe
Harbor Formula, with respect to Nonelective Employer
Contributions and meets the
Plan Number: 48295
The CORPORATEplan for Retirement(SM) Non-Std PS Plan
10/09/2003
(C) 2003 FMR Corp.
All rights reserved.
9
requirements for deemed satisfaction of the "ADP" test in Section 6.10 for
a Plan Year, the Plan will also be deemed to satisfy the "ACP" test for
such Plan Year with respect to Matching Employer Contributions if Matching
Employer Contributions hereunder meet the requirements in Section 6.11.
(A) [ ] Single Percentage Match: _________%
(B) [ ] Tiered Match:
_______________% of the first_____% of the Active Participant's
Compensation contributed to the Plan,
_______________% of the next______% of the Active Participant's
Compensation contributed to the Plan,
_______________% of the next______% of the Active Participant's
Compensation contributed to the Plan.
NOTE: The percentages specified above for basic Matching Employer
Contributions may not increase as the percentage of Compensation
contributed increases.
(C) [ ] Limit on Non-Discretionary Matching Employer Contributions
(check the appropriate box(es)):
(i) [ ] Deferral Contributions in excess of_____ % of the
Participant's Compensation for the period in question
shall not be considered for non-discretionary Matching
Employer Contributions.
NOTE: If the Employer elected a percentage limit in (i) above
and requested the Trustee to account separately for matched
and unmatched Deferral Contributions made to the Plan, the
non-discretionary Matching Employer Contributions allocated to
each Participant must be computed, and the percentage limit
applied, based upon each payroll period.
(ii) [ ] Matching Employer Contributions for each Participant
for each Plan Year shall be limited to $_____.
(2) [ ] DISCRETIONARY MATCHING EMPLOYER CONTRIBUTIONS - The Employer may
make a basic Matching Employer Contribution on behalf of each
Participant in an amount equal to the percentage declared for the
Contribution Period, if any, by a Board of Directors' Resolution (or
by a Letter of Intent for a sole proprietor or partnership) of the
Deferral Contributions made by each Participant during the
Contribution Period. The Board of Directors' Resolution (or Letter
of Intent, if applicable) may limit the Deferral Contributions
matched to a specified percentage of Compensation or limit the
amount of the match to a specified dollar amount.
(A) [ ] 4% Limitation on Discretionary Matching Employer Contributions
for Deemed Satisfaction of "ACP" Test - In no event may the
dollar amount of the discretionary Matching Employer
Contribution made on a Participant's behalf for the Plan Year
exceed 4% of the Participant's Compensation for the Plan Year.
(ONLY IF OPTION 1.11(a)(3), SAFE HARBOR FORMULA, WITH RESPECT
TO NONELECTIVE EMPLOYER CONTRIBUTIONS IS CHECKED.)
(3) [X] SAFE HARBOR MATCHING EMPLOYER CONTRIBUTIONS - Effective only for
Plan Years beginning on or after January 1, 1999, if the Employer
elects one of the safe harbor formula Options provided in
Plan Number: 48295
The CORPORATEplan for Retirement(SM) Non-Std PS Plan
10/09/2003
(C) 2003 FMR Corp.
All rights reserved.
10
the Safe Harbor Matching Employer Contribution Addendum to the
Adoption Agreement and provides written notice each Plan Year
to all Active Participants of their rights and obligations
under the Plan, the Plan shall be deemed to satisfy the "ADP"
test and, under certain circumstances, the "ACP" test.
(b) [ ] ADDITIONAL MATCHING EMPLOYER CONTRIBUTIONS - The Employer may at
Plan Year end make an additional Matching Employer Contribution
equal to a percentage declared by the Employer, through a Board of
Directors' Resolution (or by a Letter of Intent for a sole
proprietor or partnership), of the Deferral Contributions made by
each Participant during the Plan Year. (ONLY IF OPTION 1.10(a)(1) OR
(3) IS CHECKED.) The Board of Directors' Resolution (or Letter of
Intent, if applicable) may limit the Deferral Contributions matched
to a specified percentage of Compensation or limit the amount of the
match to a specified dollar amount.
(1) [ ] 4% LIMITATION ON ADDITIONAL MATCHING EMPLOYER CONTRIBUTIONS
FOR DEEMED SATISFACTION OF "ACP" TEST - In no event may the
dollar amount of the additional Matching Employer Contribution
made on a Participant's behalf for the Plan Year exceed 4% of
the Participant's Compensation for the Plan Year. (ONLY IF
OPTION 1.10(a)(3), SAFE HARBOR MATCHING EMPLOYER
CONTRIBUTIONS, OR OPTION 1.11(a)(3), SAFE HARBOR FORMULA, WITH
RESPECT TO NONELECTIVE EMPLOYER CONTRIBUTIONS IS CHECKED.)
NOTE: If the Employer elected Option 1.10(a)(3), Safe Harbor Matching
Employer Contributions, above and wants to be deemed to have satisfied the
"ADP" test for Plan Years beginning on or after January 1, 1999, the
additional Matching Employer Contribution must meet the requirements of
Section 6.10. In addition to the foregoing requirements, if the Employer
elected either Option 1.10(a)(3), Safe Harbor Matching Employer
Contributions, or Option 1.11(a)(3), Safe Harbor Formula, with respect to
Nonelective Employer Contributions, and wants to be deemed to have
satisfied the "ACP" test with respect to Matching Employer Contributions
for the Plan Year, the Deferral Contributions matched may not exceed the
limitations in Section 6.11.
(c) CONTRIBUTION PERIOD FOR MATCHING EMPLOYER CONTRIBUTIONS - The Contribution
Period for purposes of calculating the amount of basic Matching Employer
Contributions described in Subsection 1.10(a) is:
(1) [ ] each calendar month.
(2) [ ] each Plan Year quarter.
(3) [X] each Plan Year.
(4) [ ] each payroll period.
The Contribution Period for additional Matching Employer Contributions
described in Subsection 1.10(b) is the Plan Year.
(d) CONTINUING ELIGIBILITY REQUIREMENT(S) - A Participant who makes Deferral
Contributions during a Contribution Period shall only be entitled to
receive Matching Employer Contributions under Section 1.10 for that
Contribution Period if the Participant satisfies the following
requirement(s) (Check the appropriate box(es). Options (3) and (4) may not
be elected together; Option (5) may not be elected with Option (2), (3),
or (4); Options (2), (3), (4), (5), and (7) may not be elected with
respect to basic Matching Employer Contributions if Option 1.10(a)(3),
Safe Harbor Matching Employer Contributions, is checked):
(1) [X] No requirements.
Plan Number: 48295
The CORPORATEplan for Retirement(SM) Non-Std PS Plan
10/09/2003
(C) 2003 FMR Corp.
All rights reserved.
11
(2) [ ] Is employed by the Employer or a Related Employer on the last
day of the Contribution Period.
(3) [ ] Earns at least 501 Hours of Service during the Plan Year.
(ONLY IF THE CONTRIBUTION PERIOD IS THE PLAN YEAR.)
(4) [ ] Earns at least 1,000 Hours of Service during the Plan Year.
(ONLY IF THE CONTRIBUTION PERIOD IS THE PLAN YEAR.)
(5) [ ] Either earns at least 501 Hours of Service during the Plan
Year or is employed by the Employer or a Related Employer on
the last day of the Plan Year. (ONLY IF THE CONTRIBUTION
PERIOD IS THE PLAN YEAR.)
(6) [ ] Is not a Highly Compensated Employee for the Plan Year.
(7) [ ] Is not a partner or a member of the Employer, if the Employer
is a partnership or an entity taxed as a partnership.
(8) [ ] Special continuing eligibility requirement(s) for additional
Matching Employer Contributions. (ONLY IF OPTION 1.10(b),
ADDITIONAL MATCHING EMPLOYER CONTRIBUTIONS, IS CHECKED.)
(A) The continuing eligibility requirement(s) for additional
Matching Employer Contributions is/are: ___________________
(Fill in number of applicable eligibility requirement(s) from
above.)
NOTE: If Option (2), (3), (4), or (5) above is selected, then Matching
Employer Contributions can only be FUNDED by the Employer AFTER the
Contribution Period or Plan Year ends. Matching Employer Contributions
funded during the Contribution Period or Plan Year shall not be subject to
the eligibility requirements of Option (2), (3), (4), or (5). If Option
(2), (3), (4), or (5) is adopted during a Contribution Period or Plan
Year, as applicable, such Option shall not become effective until the
first day of the next Contribution Period or Plan Year.
(e) [ ] QUALIFIED MATCHING EMPLOYER CONTRIBUTIONS - Prior to making any
Matching Employer Contribution hereunder (other than a safe harbor
Matching Employer Contribution), the Employer may designate all or a
portion of such Matching Employer Contribution as a Qualified
Matching Employer Contribution that may be used to satisfy the "ADP"
test on Deferral Contributions and excluded in applying the "ACP"
test on Employee and Matching Employer Contributions. Unless the
additional eligibility requirement is selected below, Qualified
Matching Employer Contributions shall be allocated to all
Participants who meet the continuing eligibility requirement(s)
described in Subsection 1.10(d) above for the type of Matching
Employer Contribution being characterized as a Qualified Matching
Employer Contribution.
(1) [ ] To receive an allocation of Qualified Matching Employer
Contributions a Participant must also be a Non-Highly
Compensated Employee for the Plan Year.
NOTE: Qualified Matching Employer Contributions may not be excluded in
applying the "ACP" test for a Plan Year if the Employer elected Option
1.10(a)(3), Safe Harbor Matching Employer Contributions, or Option
1.11(a)(3), Safe Harbor Formula, with respect to Nonelective Employer
Contributions, and the "ADP" test is deemed satisfied under Section 6.10
for such Plan Year.
1.11 NONELECTIVE EMPLOYER CONTRIBUTIONS
Plan Number: 48295
The CORPORATEplan for Retirement(SM) Non-Std PS Plan
10/09/2003
(C) 2003 FMR Corp.
All rights reserved.
12
NOTE: An Employer may elect both a fixed formula and a discretionary formula. If
both are selected, the discretionary formula shall be treated as an additional
Nonelective Employer Contribution and allocated separately in accordance with
the allocation formula selected by the Employer.
(A) [ ] FIXED FORMULA (An Employer may elect both the Safe Harbor Formula
and one of the other fixed formulas. Otherwise, the Employer may
only select one of the following.)
(1) [ ] FIXED PERCENTAGE EMPLOYER CONTRIBUTION - For each Plan Year,
the Employer shall contribute for each eligible Active
Participant an amount equal to ________ % (NOT TO EXCEED 15%
FOR PLAN YEARS BEGINNING PRIOR TO 2002 AND 25% FOR PLAN YEARS
BEGINNING ON OR AFTER JANUARY 1, 2002) of such Active
Participant's Compensation.
(2) [ ] FIXED FLAT DOLLAR EMPLOYER CONTRIBUTION - The Employer shall
contribute for each eligible Active Participant an amount
equal to $_____.
The contribution amount is based on an Active Participant's service
for the following period:
(A) [ ] Each paid hour.
(B) [ ] Each payroll period.
(C) [ ] Each Plan Year.
(D) [ ] Other: __________________
(3) [ ] SAFE HARBOR FORMULA - Effective only with respect to Plan
Years that begin on or after January 1, 1999, the Nonelective
Employer Contribution specified in the Safe Harbor Nonelective
Employer Contribution Addendum is intended to satisfy the safe
harbor contribution requirements under the Code such that the
"ADP" test (and, under certain circumstances, the "ACP" test)
is deemed satisfied. Please complete the Safe Harbor
Nonelective Employer Contribution Addendum to the Adoption
Agreement. (CHOOSE ONLY IF OPTION 1.07(a), DEFERRAL
CONTRIBUTIONS, IS CHECKED.)
(B) [X] DISCRETIONARY FORMULA - The Employer may decide each Plan Year
whether to make a discretionary Nonelective Employer Contribution on
behalf of eligible Active Participants in accordance with Section
5.10. Such contributions shall be allocated to eligible Active
Participants based upon the following (check (1)or(2)):
(1) [ ] NON-INTEGRATED ALLOCATION FORMULA - In the ratio that each
eligible Active Participant's Compensation bears to the total
Compensation paid to all eligible Active Participants for the
Plan Year.
(2) [X] INTEGRATED ALLOCATION FORMULA - As (A) a percentage of each
eligible Active Participant's Compensation plus (B) a
percentage of each eligible Active Participant's Compensation
in excess of the "integration level" as defined below. The
percentage of Compensation in excess of the "integration
level" shall be equal to the lesser of the percentage of the
Active Participant's Compensation allocated under (A) above or
the "permitted disparity limit" as defined below.
Plan Number: 48295
The CORPORATEplan for Retirement(SM) Non-Std PS Plan
10/09/2003
(C) 2003 FMR Corp.
All rights reserved.
13
NOTE: An Employer that has elected the Safe Harbor formula in
Subsection 1.11(a)(3) above may not take Nonelective Employer
Contributions made to satisfy the safe harbor into account in
applying the integrated allocation formula described above.
"Integration level" means the Social Security taxable wage base for
the Plan Year, unless the Employer elects a lesser amount in (A) or
(B) below.
(A) 100% (NOT TO EXCEED 100%) of the Social Security taxable wage
base for the Plan Year, or
(B) $____ (NOT TO EXCEED THE SOCIAL SECURITY TAXABLE WAGE BASE).
"Permitted disparity limit" means the percentage provided by the
following table:
THE "INTEGRATION LEVEL" IS THE "PERMITTED
____% OF THE TAXABLE WAGE DISPARITY
BASE LIMIT" IS
---- ---------
20% OR LESS 5.7%
MORE THAN 20%, BUT NOT MORE THAN 4.3%
80%
MORE THAN 80%, BUT LESS THAN 5.4%
100%
100% 5.7%
NOTE: An Employer who maintains any other plan that provides for
Social Security Integration (permitted disparity) may not elect
Option 1.11 (b)(2).
(c) CONTINUING ELIGIBILITY REQUIREMENT)S) - A Participant shall only be
entitled to receive Nonelective Employer Contributions for a Plan Year
under this Section 1.11 if the Participant satisfies the following
requirement(s) (Check the appropriate box(es) - Options (3) and (4) may
not be elected together; Option (5) may not be elected with Option (2),
(3), or (4); Options (2), (3), (4), (5), and (7) may not be elected with
respect to Nonelective Employer Contributions under the fixed formula if
Option 1.11(a)(3), Safe Harbor Formula, is checked):
(1) [ ] No requirements.
(2) [X] Is employed by the Employer or a Related Employer on the last
day of the Plan Year.
(3) [ ] Earns at least 501 Hours of Service during the Plan Year.
(4) [ ] Earns at least 1,000 Hours of Service during the Plan Year.
(5) [ ] Either earns at least 501 Hours of Service during the Plan
Year or is employed by the Employer or a Related Employer on
the last day of the Plan Year.
(6) [ ] Is not a Highly Compensated Employee for the Plan Year.
(7) [ ] Is not a partner or a member of the Employer, if the Employer
is a partnership or an entity taxed as a partnership.
Plan Number: 48295
The CORPORATEplan for Retirement(SM) Non-Std PS Plan
10/09/2003
(C) 2003 FMR Corp.
All rights reserved.
14
(8) [ ] Special continuing eligibility requirement(s) for
discretionary Nonelective Employer Contributions. (ONLY IF
BOTH OPTIONS 1.11(a) AND (b) ARE CHECKED.)
(A) The continuing eligibility requirement(s) for discretionary
Nonelective Employer Contributions is/are: _____ (Fill in
number of applicable eligibility requirement(s) from above.)
NOTE: If Option (2), (3), (4), or (5) above is selected then Nonelective
Employer Contributions can only be FUNDED by the Employer AFTER the Plan
Year ends. Nonelective Employer Contributions funded during the Plan Year
shall not be subject to the eligibility requirements of Option (2), (3),
(4), or (5). If Option (2), (3), (4), or (5) is adopted during a Plan
Year, such Option shall not become effective until the first day of the
next Plan Year.
1.12 EXCEPTIONS TO CONTINUING ELIGIBILITY REQUIREMENTS
[X] DEATH, DISABILITY, AND RETIREMENT EXCEPTION TO ELIGIBILITY
REQUIREMENTS - Active Participants who do not meet any last day or
Hours of Service requirement under Subsection 1.10(d) or 1.11(c)
because they become disabled, as defined in Section 1.14, retire, as
provided in Subsection 1.13(a), (b), or (c), or die shall
nevertheless receive an allocation of Nonelective Employer and/or
Matching Employer Contributions. No Compensation shall be imputed to
Active Participants who become disabled for the period following
their disability.
1.13 RETIREMENT
(a) THE NORMAL RETIREMENT AGE UNDER THE PLAN IS (check one):
(1) [X] age 65.
(2) [ ] age_____ (specify between 55 and 64).
(3) [ ] later of age_______________________(NOT TO EXCEED 65) or
the fifth anniversary of the Participant's Employment
Commencement Date.
(b) [ ] THE EARLY RETIREMENT AGE IS THE FIRST DAY OF THE MONTH AFTER
THE PARTICIPANT ATTAINS AGE_____ (SPECIFY 55 OR GREATER) AND
COMPLETES_______YEARS OF VESTING SERVICE.
NOTE: If this Option is elected, Participants who are employed by
the Employer or a Related Employer on the date they reach Early
Retirement Age shall be 100% vested in their Accounts under the
Plan.
(c) [X] A PARTICIPANT WHO BECOMES DISABLED, AS DEFINED IN SECTION
1.14, IS ELIGIBLE FOR DISABILITY RETIREMENT.
NOTE: If this Option is elected, Participants who are employed by
the Employer or a Related Employer on the date they become disabled
shall be 100% vested in their Accounts under the Plan.
1.14 DEFINITION OF DISABLED
A PARTICIPANT IS DISABLED IF HE/SHE (check the appropriate box(es)):
(a) [X] satisfies the requirements for benefits under the Employer's
long-term disability plan.
Plan Number: 48295
The CORPORATEplan for Retirement(SM) Non-Std PS Plan
10/09/2003
(C) 2003 FMR Corp.
All rights reserved.
15
(b) [ ] satisfies the requirements for Social Security disability
benefits.
(c) [X] is determined to be disabled by a physician approved by the
Employer.
1.15 VESTING
A PARTICIPANT'S VESTED INTEREST IN MATCHING EMPLOYER CONTRIBUTIONS AND/OR
NONELECTIVE EMPLOYER CONTRIBUTIONS, OTHER THAN SAFE HARBOR MATCHING
EMPLOYER AND/OR NONELECTIVE EMPLOYER CONTRIBUTIONS ELECTED IN SUBSECTION
1.10(a)(3) OR 1.11(a)(3), SHALL BE BASED UPON HIS YEARS OF VESTING SERVICE
AND THE SCHEDULE(s) SELECTED BELOW, EXCEPT AS PROVIDED IN SUBSECTION
1.21(d) OR IN THE VESTING SCHEDULE ADDENDUM TO THE ADOPTION AGREEMENT.
(a) [ ] YEARS OF VESTING SERVICE SHALL EXCLUDE:
(1) [ ] for new plans, service prior to the Effective Date as
defined in Subsection 1.01 (g)(l).
(2) [ ] for existing plans converting from another plan
document,service prior to the original Effective Date as
defined in Subsection 1.01(g)(2).
(b) VESTING SCHEDULE(S)
Note: The vesting schedule selected below applies only to
Nonelective Employer Contributions and Matching Employer
Contributions other than safe harbor contributions under Option
1.11(a)(3) or Option 1.10(a)(3). Safe harbor contributions under
Options 1.11(a)(3) and 1.10(a)(3) are always 100% vested
immediately.
(1) NONELECTIVE EMPLOYER CONTRIBUTIONS (2) MATCHING EMPLOYER CONTRIBUTIONS
(check one): (check one):
(A) [ ] N/A - No Nonelective (A) [ ] N/A - No Matching
Employer Contributions Employer Contributions
(B) [ ] 100% Vesting immediately (B) [X] 100%Vesting immediately
(C) [ ] 3 year cliff (see C below) (C) [ ] 3 year cliff (see C below)
(D) [X] 5 year cliff (see D below) (D) [ ] 5 year cliff (see D below)
(E) [ ] 6 year graduated (see E below) (E) [ ] 6 year graduated (see E below)
(F) [ ] 7 year graduated (see F below) (F) [ ] 7 year graduated (see F below)
(G) [ ] Other vesting (G) [ ] Other vesting
(complete G1 below) (complete G2 below)
Plan Number: 48295
The CORPORATEplan for Retirement(SM) Non-Std PS Plan
10/09/2003
(C) 2003 FMR Corp.
All rights reserved.
16
YEARS OF
VESTING SERVICE APPLICABLE VESTING SCHEDULE(S)
- --------------- ------------------------------
C D E F Gl G2
---- ---- ---- ---- ---- ----
0 0% 0% 0% 0% ___% ___%
1 0% 0% 0% 0% ___% ___%
2 0% 0% 20% 0% ___% ___%
3 100% 0% 40% 20% ___% ___%
4 100% 0% 60% 40% ___% ___%
5 100% 100% 80% 60% ___% ___%
6 100% 100% 100% 80% ___% ___%
7 or more 100% 100% 100% 100% 100% 100%
NOTE: A schedule elected under Gl or G2 above must be at least as
favorable as one of the schedules in C, D, E or F above.
NOTE: If the Plan is being amended to provide a more restrictive
vesting schedule, the more favorable vesting schedule shall continue
to apply to Participants who are Active Participants immediately
prior to the later of (1) the effective date of the amendment or (2)
the date the amendment is adopted.
(c) [ ] A VESTING SCHEDULE MORE FAVORABLE THAN THE VESTING SCHEDULE(S)
SELECTED ABOVE APPLIES TO CERTAIN PARTICIPANTS. Please
complete the Vesting Schedule Addendum to the Adoption
Agreement.
(d) APPLICATION OF FORFEITURES - If a Participant forfeits any portion
of his non-vested Account balance as provided in Section 6.02, 6.04,
6.07, or 11.08, such forfeitures shall be (check one):
(1) [ ] N/A - Either (A) no Matching Employer Contributions
are made with respect to Deferral Contributions under
the Plan and all other Employer Contributions are 100%
vested when made or (B) there are no Employer
Contributions under the Plan.
(2) [X] applied to reduce Employer contributions.
(3) [ ] allocated among the Accounts of eligible Participants in
the manner provided in Section 1.11. (ONLY IF OPTION
1.11(A) OR (B) IS CHECKED.)
1.16 PREDECESSOR EMPLOYER SERVICE
[X] SERVICE FOR PURPOSES OF ELIGIBILITY IN SUBSECTION 1.04(b) AND
VESTING IN SUBSECTION 1.15(b) OF THIS PLAN SHALL INCLUDE SERVICE
WITH THE FOLLOWING PREDECESSOR EMPLOYER(S):
International Minerals and Chemical Corp.
Western Ag Minerals Company
Plan Number: 48295
The CORPORATEplan for Retirement(SM) Non-Std PS Plan
10/09/2003
(C) 2003 FMR Corp.
All rights reserved.
17
Vigoro Corporation
Harris Chemical North American, Inc.
IMC Kalium Ogden, Inc.
IMC Salt, Inc.
IMC Chemicals, Inc.
IMC Global, Inc.
1.17 PARTICIPANT LOANS
PARTICIPANT LOANS (check one):
(a) [X] ARE ALLOWED IN ACCORDANCE WITH ARTICLE 9 AND LOAN PROCEDURES
OUTLINED IN THE SERVICE AGREEMENT.
(b) [ ] ARE NOT ALLOWED.
1.18 IN-SERVICE WITHDRAWALS
PARTICIPANTS MAY MAKE WITHDRAWALS PRIOR TO TERMINATION OF EMPLOYMENT UNDER
THE FOLLOWING CIRCUMSTANCES (check the appropriate box(es)):
(a) [X] HARDSHIP WITHDRAWALS - Hardship withdrawals from a
Participant's Deferral Contributions Account shall be allowed
in accordance with Section 10.05, subject to a $500 minimum
amount.
(b) [X] Age 59 1/2 - Participants shall be entitled to receive a
distribution of all or any portion of the following Accounts
upon attainment of age 59 1/2 (check one):
(1) [X] Deferral Contributions Account.
(2) [ ] All vested account balances.
(c) WITHDRAWAL OF EMPLOYEE CONTRIBUTIONS AND ROLLOVER CONTRIBUTIONS -
(1) Unless otherwise provided below, Employee Contributions may be
withdrawn in accordance with Section 10.02 at any time.
(A) [ ] Employees may not make withdrawals of Employee
Contributions more frequently than:
__________________________________.
(2) Rollover Contributions may be withdrawn in accordance with
Section 10.03 at any time.
(d) [X] PROTECTED IN-SERVICE WITHDRAWAL PROVISIONS - Check if the Plan
was converted by plan amendment or received transfer
contributions from another defined contribution plan, and
benefits under the other defined contribution plan were
payable as (check the appropriate box(es)):
Plan Number: 48295
The CORPORATEplan for Retirement(SM) Non-Std PS Plan
10/09/2003
(C) 2003 FMR Corp.
All rights reserved.
18
(1) [X] an in-service withdrawal of vested employer contributions
maintained in a Participant's Account (check (A) and/or (B)):
(A) [X] for at least 24 (24 or more) months.
(i) [X] Special restrictions applied to such in-service
withdrawals under the prior plan that the Employer
wishes to continue under the Plan as restated
hereunder. Please complete the Protected
In-Service Withdrawals Addendum to the Adoption
Agreement identifying the restrictions.
(B) [X] after the Participant has at least 60 months of
participation.
(i) [X] Special restrictions applied to such in-service
withdrawals under the prior plan that the Employer
wishes to continue under the Plan as restated
hereunder. Please complete the Protected
In-Service Withdrawals Addendum to the Adoption
Agreement identifying the restrictions.
(2) [X] another in-service withdrawal option that is a "protected
benefit" under Code Section 411(d)(6) or an in-service
hardship withdrawal option not otherwise described in Section
1.18(a). Please complete the Protected In-Service Withdrawals
Addendum to the Adoption Agreement identifying the in-service
withdrawal option(s).
1.19 FORM OF DISTRIBUTIONS
SUBJECT TO SECTION 13.01, 13.02 AND ARTICLE 14, DISTRIBUTIONS UNDER THE
PLAN SHALL BE PAID AS PROVIDED BELOW. (Check the appropriate box(es) and,
if any forms of payment selected in (b), (c) and/or (d) apply only to a
specific class of Participants, complete Subsection (b) of the Forms of
Payment Addendum.)
(a) LUMP SUM PAYMENTS - Lump sum payments are always available under the
Plan.
(b) [X] INSTALLMENT PAYMENTS - Participants may elect distribution
under a systematic withdrawal plan (installments).
(c) [X] ANNUITIES (Check if the Plan is retaining any annuity form(s)
of payment.)
(1) An annuity form of payment is available under the Plan for the
following reason(s) (check (A) and/or (B), as applicable):
(A) [ ] As a result of the Plan's receipt of a transfer of
assets from another defined contribution plan or
pursuant to the Plan terms prior to the Amendment
Effective Date specified in Section 1.01(g)(2),
benefits were previously payable in the form of an
annuity that the Employer elects to continue to be
offered as a form of payment under the Plan.
(B) [X] The Plan received a transfer of assets from a
defined benefit plan or another defined
contribution plan that was subject to the minimum
funding requirements of Code Section 412 and
therefore an annuity form of payment is a
protected benefit under the
Plan Number: 48295
The CORPORATEplan for Retirement(SM) Non-Std PS Plan
10/09/2003
(C) 2003 FMR Corp.
All rights reserved.
19
Plan in accordance with Code Section 411(d)(6).
(2) The normal form of payment under the Plan is (check (A) or (B)):
(A) [ ] A lump sum payment.
(i) Optional annuity forms of payment (check (I) and/or
(II), as applicable). (MUST CHECK AND COMPLETE (I) IF A
LIFE ANNUITY IS ONE OF THE OPTIONAL ANNUITY FORMS OF
PAYMENT UNDER THE PLAN.)
(I) [ ] A married Participant who elects an annuity
form of payment shall receive a qualified
joint and___ % (AT LEAST 50%) survivor
annuity. An unmarried Participant shall
receive a single life annuity, unless a
different form of payment is specified
below:
_______________________________________
(II) [ ] Other annuity form(s) of payment. Please
complete Subsection (a) of the Forms of
Payment Addendum describing the other
annuity form(s) of payment available under
the Plan.
(B) [X] A life annuity (complete (i) and (ii) and check (iii) if
applicable).
(i) The normal form for married Participants is a qualified
joint and 50% (AT LEAST 50%) survivor annuity. The
normal form for unmarried Participants is a single life
annuity, unless a different annuity form is specified
below:
Single Life Annuity
(ii) The qualified preretirement survivor annuity provided to
a Participant's spouse is purchased with 50% (AT LEAST
50%) of the Participant's Account.
(iii) [ ] Other annuity form(s) of payment. Please complete
Subsection (a) of the Forms of Payment Addendum
describing the other annuity form(s) of payment
available under the Plan.
(d) [X] OTHER NON-ANNUITY FORM(S) OF PAYMENT - As a result of the Plan's
receipt of a transfer of assets from another plan or pursuant to the
Plan terms prior to the Amendment Effective Date specified in
1.01(g)(2), benefits were previously payable in the following
form(s) of payment not described in (a), (b) or (c) above and the
Plan will continue to offer these form(s) of payment:
_________________________________________
In Kind Distributions of Company Stock
(e) [ ] ELIMINATED FORMS OF PAYMENT NOT PROTECTED UNDER CODE SECTION
411(d)(6). Check if either (1) under the Plan terms prior to the
Amendment Effective Date or (2) under the terms of another plan from
which assets were transferred, benefits were payable in a form of
payment that will cease to be offered after a specified
Plan Number: 48295
The CORPORATEplan for Retirement(SM) Non-Std PS Plan
10/09/2003
(C) 2003 FMR Corp.
All rights reserved.
20
date. Please complete Subsection (c) of the Forms of Payment
Addendum describing the forms of payment previously available
and the effective date of the elimination of the form(s) of
payment.
1.20 TIMING OF DISTRIBUTIONS
EXCEPT AS PROVIDED IN SUBSECTION 1.20(a) OR (b) AND THE POSTPONED
DISTRIBUTION ADDENDUM TO THE ADOPTION AGREEMENT, DISTRIBUTION SHALL BE
MADE TO AN ELIGIBLE PARTICIPANT FROM HIS VESTED INTEREST IN HIS ACCOUNT AS
SOON AS REASONABLY PRACTICABLE FOLLOWING THE DATE THE PARTICIPANT'S
APPLICATION FOR DISTRIBUTION IS RECEIVED BY THE ADMINISTRATOR.
(a) REQUIRED COMMENCEMENT OF DISTRIBUTION - If a Participant does not
elect to receive benefits as of an earlier date, as permitted
under the Plan, distribution of a Participant's Account shall
begin as of the Participant's Required Beginning Date.
(b) [ ] POSTPONED DISTRIBUTIONS - Check if the Plan was converted by
plan amendment from another defined contribution plan that
provided for the postponement of certain distributions from
the Plan to eligible Participants and the Employer wants to
continue to administer the Plan using the postponed
distribution provisions. Please complete the Postponed
Distribution Addendum to the Adoption Agreement indicating the
types of distributions that are subject to postponement and
the period of postponement.
NOTE: An Employer may not provide for postponement of distribution
to a Participant beyond the 60th day following the close of the Plan
Year in which (1) the Participant attains Normal Retirement Age
under the Plan, (2) the Participant's 10th anniversary of
participation in the Plan occurs, or (3) the Participant's
employment terminates, whichever is latest.
1.21 TOP HEAVY STATUS
(a) THE PLAN SHALL BE SUBJECT TO THE TOP-HEAVY PLAN REQUIREMENTS OF
ARTICLE 15 (check one):
(1) [ ] for each Plan Year, whether or not the Plan is a
"top-heavy plan" as defined in Subsection 15.01(f).
(2) [X] for each Plan Year, if any, for which the Plan is a
"top-heavy plan" as defined in Subsection 15.01(f).
(3) [ ] Not applicable. (CHOOSE ONLY IF PLAN COVERS ONLY
EMPLOYEES SUBJECT TO A COLLECTIVE BARGAINING AGREEMENT.)
(b) IN DETERMINING WHETHER THE PLAN IS A "TOP-HEAVY PLAN" FOR AN
EMPLOYER WITH AT LEAST ONE DEFINED BENEFIT PLAN, THE FOLLOWING
ASSUMPTIONS SHALL APPLY:
(1) [ ] Interest rate: ______________% per annum.
(2) [ ] Mortality table: _________________.
(3) [ ] Not applicable. (CHOOSE ONLY IF EITHER (A) PLAN COVERS
ONLY EMPLOYEES SUBJECT TO A COLLECTIVE BARGAINING
AGREEMENT OR (B) EMPLOYER DOES NOT MAINTAIN AND HAS NOT
MAINTAINED ANY DEFINED BENEFIT PLAN DURING THE FIVE-YEAR
PERIOD ENDING ON THE APPLICABLE "DETERMINATION DATE", AS
DEFINED IN SUBSECTION 15.01(a).)
Plan Number: 48295
The CORPORATEplan for Retirement(SM) Non-Std PS Plan
10/09/2003
(C)2003 FMR Corp.
All rights reserved.
21
(c) IF THE PLAN IS OR IS TREATED AS A "TOP-HEAVY PLAN " FOR A PLAN YEAR,
EACH NON-KEY EMPLOYEE SHALL RECEIVE AN EMPLOYER CONTRIBUTION OF AT
LEAST 3.0 (3, 4, 5, OR 71/2)% OF COMPENSATION FOR THE PLAN YEAR IN
ACCORDANCE WITH SECTION 15.03. THE MINIMUM EMPLOYER CONTRIBUTION
PROVIDED IN THIS SUBSECTION 1.21(c) SHALL BE MADE UNDER THIS PLAN
ONLY IF THE PARTICIPANT IS NOT ENTITLED TO SUCH CONTRIBUTION UNDER
ANOTHER QUALIFIED PLAN OF THE EMPLOYER, UNLESS THE EMPLOYER ELECTS
OTHERWISE BELOW:
(1) [ ] The minimum Employer Contribution shall be paid under
this Plan in any event.
(2) [ ] Another method of satisfying the requirements of Code
Section 416. Please complete the 416 Contribution
Addendum to the Adoption Agreement describing the way in
which the minimum contribution requirements will be
satisfied in the event the Plan is or is treated as a
"top-heavy plan".
(3) [ ] Not applicable. (CHOOSE ONLY IF PLAN COVERS ONLY
EMPLOYEES SUBJECT TO A COLLECTIVE BARGAINING AGREEMENT.)
NOTE: The minimum Employer contribution may be less than the
percentage indicated in Subsection 1.21(c) above to the extent
provided in Section 15.03.
(d) IF THE PLAN IS OR IS TREATED AS A "TOP-HEAVY PLAN" FOR A PLAN YEAR,
THE FOLLOWING VESTING SCHEDULE SHALL APPLY INSTEAD OF THE
SCHEDULE(S) ELECTED IN SUBSECTION 1.15(b)FOR SUCH PLAN YEAR AND EACH
PLAN YEAR THEREAFTER (check one):
(1) [ ] Not applicable. (CHOOSE ONLY IF EITHER (A) PLAN PROVIDES
FOR NONELECTIVE EMPLOYER CONTRIBUTIONS AND THE SCHEDULE
ELECTED IN SUBSECTION 1.15(b)(1) IS AT LEAST AS
FAVORABLE IN ALL CASES AS THE SCHEDULES AVAILABLE BELOW
OR (b) PLAN COVERS ONLY EMPLOYEES SUBJECT TO A
COLLECTIVE BARGAINING AGREEMENT.)
(2) [ ] 100% vested after ________ (NOT IN EXCESS OF 3) years of
Vesting Service.
(3) [X] Graded vesting:
VESTING MUST BE
YEARS OF VESTING SERVICE PERCENTAGE AT LEAST
- ------------------------ ---------- --------
0 0.00% 0%
1 0.00% 0%
2 20.00% 20%
3 40.00% 40%
4 60.00% 60%
5 100.00% 80%
6 or more 100.00% 100%
NOTE: If the Plan provides for Nonelective Employer
Contributions and the schedule elected in Subsection
1.15(b)(1) is more favorable in all cases than the schedule
elected in Subsection 1.21(d) above, then the schedule in
Subsection 1.15(b)(1) shall continue to apply even in Plan
Years in which the Plan is a "top-heavy plan".
Plan Number: 48295
The CORPORATEplan for Retirement(SM) Non-Std PS Plan
10/09/2003
(C)2003 FMR Corp.
All rights reserved.
22
1.22 CORRECTION TO MEET 415 REQUIREMENTS UNDER MULTIPLE DEFINED CONTRIBUTION
PLANS
If the Employer maintains other defined contribution plans, annual
additions to a Participant's Account shall be limited as provided in
Section 6.12 of the Plan to meet the requirements of Code Section 415,
unless the Employer elects otherwise below and completes the 415
Correction Addendum describing the order in which annual additions shall
be limited among the plans.
(a) [ ] OTHER ORDER FOR LIMITING ANNUAL ADDITIONS
1.23 INVESTMENT DIRECTION
INVESTMENT DIRECTIONS - Participant Accounts shall be invested (check
one):
(a) [ ] in accordance with the investment directions provided to the
Trustee by the Employer for allocating all Participant
Accounts among the Options listed in the Service Agreement.
(b) [X] in accordance with the investment directions provided to the
Trustee by each Participant for allocating his entire Account
among the Options listed in the Service Agreement.
(c) [ ] in accordance with the investment directions provided to the
Trustee by each Participant for all contribution sources in
his Account, except that the following sources shall be
invested in accordance with the investment directions provided
by the Employer (check (1) and/or (2)):
(1) [ ] Nonelective Employer Contributions
(2) [ ] Matching Employer Contributions
The Employer must direct the applicable sources among the same
investment options made available for Participant directed
sources listed in the Service Agreement.
1.24 RELIANCE ON OPINION LETTER
An adopting Employer may rely on the opinion letter issued by the Internal
Revenue Service as evidence that this Plan is qualified under Code Section
401 only to the extent provided in Announcement 2001-77, 2001-30 I.R.B.
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 issued with respect to this Plan and
in Announcement 2001-77. In order to have reliance in such circumstances
or with respect to such qualification requirements, application for a
determination letter must be made to Employee Plans Determinations of the
Internal Revenue Service. Failure to fill out the Adoption Agreement
properly may result in disqualification of the Plan.
This Adoption Agreement may be used only in conjunction with Fidelity
Basic Plan Document No. 02. The Prototype Sponsor shall inform the
adopting Employer of any amendments made to the Plan or of the
discontinuance or abandonment of the prototype plan document.
1.25 PROTOTYPE INFORMATION:
Name of Prototype Sponsor: Fidelity Management & Research Company
Address of Prototype Sponsor: 82 Devonshire Street
Plan Number: 48295
The CORPORATEplan for Retirement(SM) Non-Std PS Plan
10/09/2003
(C)2003 FMR Corp.
All rights reserved.
23
Boston, MA 02109
Questions regarding this prototype document may be directed to the
following telephone number: 1-800-343-9184.
Plan Number: 48295
The CORPORATEplan for Retirement(SM) Non-Std PS Plan
10/09/2003
(C)2003 FMR Corp.
All rights reserved.
24
EXECUTION PAGE
(FIDELITY'S COPY)
IN WITNESS WHEREOF, the Employer has caused this Adoption Agreement to be
executed this 27th day of December, 2004.
Employer: Compass Minerals International, Inc.
By: /s/ Victoria Heider
Title: Vice President, Human Resources
Employer: __________________________________________
By: __________________________________________
Title: __________________________________________
Accepted by:
Fidelity Management Trust Company, as Trustee
By: /s/ Michael G. Skinner Date: 1-11-2005
Title: Authorized Signatory
Plan Number: 48295
The CORPORATEplan for Retirement(SM) Non-Std PS Plan
10/09/2003
(C)2003 FMR Corp.
All rights reserved.
25
EXECUTION PAGE
(EMPLOYER'S COPY)
IN WITNESS WHEREOF, the Employer has caused this Adoption Agreement to be
executed this 27th day of December, 2004.
Employer: Compass Minerals International, Inc.
By: /s/ Victoria Heider
Title: Vice President, Human Resources
Employer: __________________________________________
By: __________________________________________
Title: __________________________________________
Accepted by:
Fidelity Management Trust Company, as Trustee
By: /s/ Michael G. Skinner Date: 1-11-2005
Title: Authorized Signatory
Plan Number: 48295
The CORPORATEplan for Retirement(SM) Non-Std PS Plan
10/09/2003
(C)2003 FMR Corp.
All rights reserved.
26
AMENDMENT EXECUTION PAGE
This page is to be completed in the event the Employer modifies any prior
election(s) or makes a new election(s) in this Adoption Agreement. Attach the
amended page(s) of the Adoption Agreement to this execution page.
The following section(s) of the Plan are hereby amended effective as of
the date(s) set forth below:
Section Amended Page Effective Date
--------------- ---- --------------
________________________ ____________________ ______________________
________________________ ____________________ ______________________
________________________ ____________________ ______________________
________________________ ____________________ ______________________
________________________ ____________________ ______________________
IN WITNESS WHEREOF, the Employer has caused this Amendment to be executed
this___day of __________, ____.
Employer: ___________________________ Employer: _____________________________
By: ___________________________ By: _____________________________
Title: ___________________________ Title: _____________________________
Accepted by:
Fidelity Management Trust Company, as Trustee
By: ________________________________ Date: _______________
Title: ________________________________
Plan Number: 48295
The CORPORATEplan for Retirement(SM) Non-Std PS Plan
10/09/2003
(C)2003 FMR Corp.
All rights reserved.
27
ADDENDUM
RE: SPECIAL EFFECTIVE DATES
FOR
PLAN NAME: Compass Minerals International, Inc. Savings Plan
(a) [ ] SPECIAL EFFECTIVE DATES FOR OTHER PROVISIONS - The following
provisions (e.g., new eligibility requirements, new contribution
formula, etc.) shall be effective as of the dates specified herein:
____________________________________________________________________
____________________________________________________________________
____________________________________________________________________
____________________________________________________________________
____________________________________________________________________
____________________________________________________________________
(b) [X] PLAN MERGER EFFECTIVE DATES - The following plan(s) were merged into
the Plan after the Effective Date indicated in Subsection 1.01(g)(l)
or (2), as applicable. The provisions of the Plan are effective with
respect to the merged plan(s) as of the date(s) indicated below:
(1) Name of merged plan: _______________________________________________
Compass Minerals Group Retirement Savings and Investment Plan for
Hourly Employees
____________________________________________________________________
Effective date: 7/20/2004
Plan Number: 48295
The CORPORATEplan for Retirement(SM) Non-Std PS Plan
10/09/2003
(C) 2003 FMR Corp.
All rights reserved.
28
(2) Name of merged plan:
Compass Minerals Group Retirement Savings and Investment Plan for
Hourly Employees.
Effective date: 12/31/2004
(3) Name of merged plan: _______________________________________________
____________________________________________________________________
____________________________________________________________________
Effective date: _____________________________
(4) Name of merged plan: _______________________________________________
____________________________________________________________________
____________________________________________________________________
Effective date: _____________________________
(5) Name of merged plan: _______________________________________________
____________________________________________________________________
____________________________________________________________________
Effective date: _____________________________
Plan Number: 48295
The CORPORATEplan for Retirement(SM) Non-Std PS Plan
10/09/2003
(C) 2003 FMR Corp.
All rights reserved.
29
ADDENDUM
RE: SAFE HARBOR MATCHING EMPLOYER CONTRIBUTION
FOR
PLAN NAME: Compass Minerals International, Inc. Savings Plan
(a) SAFE HARBOR MATCHING EMPLOYER CONTRIBUTION FORMULA
NOTE: Matching Employer Contributions made under this Option must be 100%
vested when made and may only be distributed because of death, disability,
separation from service, age 59 1/2, or termination of the Plan without
the establishment of a successor plan. In addition, each Plan Year, the
Employer must provide written notice to all Active Participants of their
rights and obligations under the Plan.
(1) [ ] 100% of the first 3% of the Active Participant's Compensation
contributed to the Plan and 50% of the next 2% of the Active
Participant's Compensation contributed to the Plan.
(A) [ ] Safe harbor Matching Employer Contributions shall not be
made on behalf of Highly Compensated Employees.
NOTE: If the Employer selects this formula and does not elect Option
1.10(b), Additional Matching Employer Contributions, Matching
Employer Contributions will automatically meet the safe harbor
contribution requirements for deemed satisfaction of the "ACP" test.
(Employee Contributions must still be tested.)
(2) [X] Other Enhanced Match:
100.00% of the first 3% of the Active Participant's Compensation
contributed to the Plan
50.00% of the next 3% of the Active Participant's Compensation contributed to
the Plan
NOTE: To satisfy the safe harbor contribution requirement for the
"ADP" test, the percentages specified above for Matching Employer
Contributions may not increase as the percentage of Compensation
contributed increases, and the aggregate amount of Matching Employer
Contributions at such rates must at least equal the aggregate amount
of Matching Employer Contributions which would be made under the
percentages described in (a)(1) of this Addendum.
(A) [ ] Safe harbor Matching Employer Contributions shall not be
made on behalf of Highly Compensated Employees.
(B) [ ] The formula specified above is also intended to satisfy
the safe harbor contribution requirement for deemed
satisfaction of the "ACP" test with respect to Matching
Employer Contributions. (Employee Contributions must
still be tested.)
NOTE: To satisfy the safe harbor contribution requirement for
the "ACP" test, the Deferral Contributions and/or Employee
Contributions matched cannot exceed 6% of a Participant's
Compensation.
Plan Number: 48295
The CORPORATEplan for Retirement(SM) Non-Std PS Plan
10/09/2003
(C) 2003 FMR Corp.
All rights reserved.
30
ADDENDUM
RE: SAFE HARBOR NONELECTIVE EMPLOYER CONTRIBUTION
FOR
PLAN NAME: Compass Minerals International, Inc. Savings Plan
(a) SAFE HARBOR NONELECTLVE EMPLOYER CONTRIBUTION ELECTION
(1) [ ] For each Plan Year, the Employer shall contribute for each
eligible Active Participant an amount equal to ___________%
(NOT LESS THAN 3% NOR MORE THAN 15%) of such Active
Participant's Compensation.
(2) [ ] The Employer may decide each Plan Year whether to amend the
Plan by electing and completing (A) below to provide for a
contribution on behalf of each eligible Active Participant in
an amount equal to at least 3% of such Active Participant's
Compensation.
NOTE: An Employer that has selected Subsection (a)(2) above must
amend the Plan by electing (A) below and completing the Amendment
Execution Page no later than 30 days prior to the end of each Plan
Year for which safe harbor Nonelective Employer Contributions are
being made.
(A) [ ] For the Plan Year beginning ___________, the Employer
shall contribute for each eligible Active Participant an
amount equal to % (not less than 3% nor more than 15%)
of such Active Participant's Compensation.
NOTE: Safe harbor Nonelective Employer Contributions must be 100% vested
when made and may only be distributed because of death, disability,
separation from service, age 59 1/2, or termination of the Plan without
the establishment of a successor plan. In addition, each Plan Year, the
Employer must provide written notice to all Active Participants of their
rights and obligations under the Plan.
(b) [ ] Safe harbor Nonelective Employer Contributions shall not be made on
behalf of Highly Compensated Employees.
(c) [ ] In conjunction with its election of the safe harbor described above,
the Employer has elected to make Matching Employer Contributions
under Subsection 1.10 that are intended to meet the requirements for
deemed satisfaction of the "ACP" test with respect to Matching
Employer Contributions.
Plan Number: 48295
The CORPORATEplan for Retirement(SM) Non-Std PS Plan
10/09/2003
(C) 2003 FMR Corp.
All rights reserved.
31
ADDENDUM
RE: PROTECTED IN-SERVICE WITHDRAWALS
FOR
PLAN NAME: Compass Minerals International, Inc. Savings Plan
(a) RESTRICTIONS ON IN-SERVICE WITHDRAWALS OF AMOUNTS HELD FOR SPECIFIED
PERIOD - The following restrictions apply to in-service withdrawals made
in accordance with Subsection 1.18(d)(1)(A) (CANNOT INCLUDE ANY MANDATORY
SUSPENSION OF CONTRIBUTIONS RESTRICTION):
24 month withdrawals exclude Cote Blanche Employees
__________________________________________________________________________
__________________________________________________________________________
__________________________________________________________________________
__________________________________________________________________________
(b) RESTRICTIONS ON IN-SERVICE WITHDRAWALS BECAUSE OF PARTICIPATION IN PLAN
FOR 60 OR MORE MONTHS - The following restrictions apply to in-service
withdrawals made in accordance with Subsection 1.18(d)(1)(B) (CANNOT
INCLUDE ANY MANDATORY SUSPENSION OF CONTRIBUTIONS RESTRICTION):
60 month withdrawals exclude Cote Blanche Employees
__________________________________________________________________________
__________________________________________________________________________
__________________________________________________________________________
__________________________________________________________________________
(c) [X] OTHER IN-SERVICE HARDSHIP WITHDRAWAL PROVISIONS - In-service
hardship withdrawals are permitted from a Participant's Deferral
Contributions Account and the other sub-accounts specified below,
subject to the conditions otherwise applicable to hardship
withdrawals from a Participant's Deferral Contributions Account:
Match Employer Contribution for Hardship Withdrawals
____________________________________________________________________
____________________________________________________________________
____________________________________________________________________
____________________________________________________________________
Plan Number: 48295
The CORPORATEplan for Retirement(SM) Non-Std PS Plan
10/09/2003
(C) 2003 FMR Corp.
All rights reserved.
32
(d) [X] OTHER IN-SERVICE WITHDRAWAL PROVISIONS - In-service withdrawals from
a Participant's Accounts specified below shall be available to
Participants who satisfy the requirements also specified below:
Match Employer Contribution for Age 591/2 In-Service Withdrawals for
all participants except for Kenosha and Cote Blanche participants.
____________________________________________________________________
____________________________________________________________________
____________________________________________________________________
____________________________________________________________________
(1) [ ] The following restrictions apply to a Participant's Account
following an in-service withdrawal made pursuant to (d) above
(CANNOT INCLUDE ANY MANDATORY SUSPENSION OF CONTRIBUTIONS
RESTRICTION):
____________________________________________________________________
____________________________________________________________________
____________________________________________________________________
____________________________________________________________________
____________________________________________________________________
Plan Number: 48295
The CORPORATEplan for Retirement(SM) Non-Std PS Plan
10/09/2003
(C) 2003 FMR Corp.
All rights reserved.
33
ADDENDUM
RE: FORMS OF PAYMENT
FOR
PLAN NAME: Compass Minerals International, Inc. Savings Plan
(a) The following optional forms of annuity will continue to be offered under
the Plan:
_______________________________________________________
(b) The forms of payment described in Section 1.19(b), (c) and/or (d) apply to
the following class(es) of Participants:
Life Annuity is an available payment option only for the following class:
Harris Target Benefit, Prior Pension, Kal Pension, Participants from the
IMC Global Retirement Savings & Investment Plan (formally known as the
North American Salt Co. Retirement Savings & Investment Plan for Hourly
Employees).
NOTE: Please indicate if different classes of Participants are subject to
different forms of payment.
(c) The following forms of payment were previously available under the Plan
but will be eliminated as of the date specified in subsection (4) below
(check the applicable (box(es) and complete (4)):
(1) [ ] INSTALLMENT PAYMENTS.
(2) [ ] ANNUITIES.
(A) [ ] The normal form of payment under the Plan was a lump sum
and all optional annuity forms of payment not listed
under Section 1.19(c)(2)(A)(i) are eliminated. The
eliminated forms of payment include the following:
(B) [ ] The normal form of payment under the Plan was a life
annuity and all annuity forms of payment not listed
under Section 1.19(c)(2)(B) are eliminated. (COMPLETE
(i) AND (ii) AND, IF APPLICABLE, (iii).)
(i) The normal form for married Participants was a
qualified joint and _______% (AT LEAST 50%)
survivor annuity. The normal form for unmarried
Participants was a single life annuity, unless a
different form is specified below:
________________________________
Plan Number: 48295
The CORPORATEplan for Retirement(SM) Non-Std PS Plan
10/09/2003
(C) 2003 FMR Corp.
All rights reserved.
34
(ii) The qualified preretirement survivor annuity
provided to a Participant's spouse was purchased
with__% (AT LEAST 50%) of the Participant's
Account.
(iii) The other annuity form(s) of payment previously
available under the Plan included the following:
(3) [ ] OTHER NON-ANNUITY FORMS OF PAYMENT. All other non-annuity
forms of payment that are not listed in Section 1.19(d) but
that were previously available under the Plan are eliminated.
The eliminated non-annuity forms of payment include the
following:
_______________________________
(4) The form(s) of payment described in this Subsection (c) will not be
offered to Participants who have an Annuity Starting Date which
occurs on or after_____________(CANNOT BE EARLIER THAN SEPTEMBER 6,
2000). Notwithstanding the date entered above, the forms of payment
described in this Subsection (c) will continue to be offered to
Participants who have an Annuity Starting Date that occurs (1)
within 90 days following the date the Employer provides affected
Participants with a summary that satisfies the requirements of 29
CFR 2520.104b-3 and that notifies them of the elimination of the
applicable form(s) of payment, but (2) no later than the first day
of the second Plan Year following the Plan Year in which the
amendment eliminating the applicable form(s) of payment is adopted.
Plan Number: 48295
The CORPORATEplan for Retirement(SM) Non-Std PS Plan
10/09/2003
(C) 2003 FMR Corp.
All rights reserved.
35
ADDENDUM
RE: VESTING SCHEDULE
FOR
PLAN NAME: Compass Minerals International, Inc. Savings Plan
(a) MORE FAVORABLE VESTING SCHEDULE
(1) The following vesting schedule applies to the class of Participants
described in (a)(2) below:
_________________________________________________________________
_________________________________________________________________
_________________________________________________________________
(2) The vesting schedule specified in (a)(1) above applies to the
following class of Participants:
_________________________________________________________________
(b) [ ] ADDITIONAL VESTING SCHEDULE
(1) The following vesting schedule applies to the class of Participants
described in (b)(2) below:
_________________________________________________________________
_________________________________________________________________
_________________________________________________________________
(2) The vesting schedule specified in (b)(1) above applies to the
following class of Participants:
_________________________________________________________________
Plan Number: 48295
The CORPORATEplan for Retirement(SM) Non-Std PS Plan
10/09/2003
(C)2003 FMR Corp.
All rights reserved.
36
ADDENDUM
RE: POSTPONED DISTRIBUTIONS
FOR
PLAN NAME: Compass Minerals International, Inc. Savings Plan
POSTPONEMENT OF CERTAIN DISTRIBUTIONS TO ELIGIBLE PARTICIPANTS - The types of
distributions specified below to eligible Participants of their vested interests
in their Accounts shall be postponed for the period also specified below:
______________________________________________________________________
______________________________________________________________________
______________________________________________________________________
______________________________________________________________________
______________________________________________________________________
______________________________________________________________________
______________________________________________________________________
______________________________________________________________________
Notwithstanding the foregoing, if the Employer selected an Early Retirement Age
in Subsection 1.14(b) that is the later of an attained age or completion of a
specified number of years of Vesting Service, any Participant who terminates
employment on or after completing the required number of years of Vesting
Service, but before attaining the required age shall be eligible to commence
distribution of his vested interest in his Account upon attaining the required
age.
Plan Number: 48295
The CORPORATEplan for Retirement(SM) Non-Std PS Plan
10/09/2003
(C)2003 FMR Corp.
All rights reserved.
37
ADDENDUM
RE: 415 CORRECTION
FOR
PLAN NAME: Compass Minerals International, Inc. Savings Plan
(a) OTHER FORMULA FOR LIMITING ANNUAL ADDITIONS TO MEET 415 - If the Employer,
or any employer required to be aggregated with the Employer under Code
Section 415, maintains any other qualified defined contribution plans or
any "welfare benefit fund", "individual medical account", or "simplified
medical account", annual additions to such plans shall be limited as
follows to meet the requirements of Code Section 415:
_______________________________________________________________
_______________________________________________________________
_______________________________________________________________
_______________________________________________________________
_______________________________________________________________
_______________________________________________________________
_______________________________________________________________
_______________________________________________________________
_______________________________________________________________
_______________________________________________________________
_______________________________________________________________
_______________________________________________________________
Plan Number: 48295
The CORPORATEplan for Retirement(SM) Non-Std PS Plan
10/09/2003
(C)2003 FMR Corp.
All rights reserved.
38
ADDENDUM
RE: 416 CONTRIBUTION
FOR
PLAN NAME: Compass Minerals International, Inc. Savings Plan
(a) OTHER METHOD OF SATISFYING THE REQUIREMENTS OF 416 - If the Employer, or
any employer required to be aggregated with the Employer under Code
Section 416, maintains any other qualified defined contribution or defined
benefit plans, the minimum benefit requirements of Code Section 416 shall
be satisfied as follows:
_______________________________________________________________
_______________________________________________________________
_______________________________________________________________
_______________________________________________________________
_______________________________________________________________
_______________________________________________________________
_______________________________________________________________
_______________________________________________________________
_______________________________________________________________
_______________________________________________________________
_______________________________________________________________
_______________________________________________________________
Plan Number: 48295
The CORPORATEplan for Retirement(SM) Non-Std PS Plan
10/09/2003
(C)2003 FMR Corp.
All rights reserved.
39
THE CORPORATEPLAN FOR RETIREMENT(SM) (PROFIT SHARING/401(K) PLAN)
ADDENDUM TO ADOPTION AGREEMENT
FIDELITY BASIC PLAN DOCUMENT NO. 02
RE: ECONOMIC GROWTH AND TAX RELIEF RECONCILIATION ACT OF 2001 ("EGTRRA")
AMENDMENTS FOR
PLAN NAME: COMPASS MINERALS INTERNATIONAL, INC. SAVINGS PLAN
PREAMBLE
ADOPTION AND EFFECTIVE DATE OF AMENDMENT. This amendment of the Plan is adopted
to reflect certain provisions of the Economic Growth and Tax Relief
Reconciliation Act of 2001 ("EGTRRA"). This amendment is intended as good faith
compliance with the requirements of EGTRRA and is to be construed in accordance
with EGTRRA and guidance issued thereunder. Except as otherwise provided below,
this amendment shall be effective as of the first day of the first plan year
beginning after December 31,2001.
SUPERSESSION OF INCONSISTENT PROVISIONS. This amendment shall supersede the
provisions of the Plan to the extent those provisions are inconsistent with the
provisions of this amendment.
(a) CATCH-UP CONTRIBUTIONS. The Employer must select either (1) or (2) below
to indicate whether eligible Participants age 50 or older by the end of a
calendar year will be permitted to make catch-up contributions to the
Plan, as described in Section 5.03(b)(1):
(1) [X] Catch-up contributions shall apply effective January 1, 2002,
unless a later effective date is specified herein, 01/09/2004.
(2) [ ] Catch-up contributions shall not apply.
NOTE: The Employer must NOT select (a)(1) above unless all plans of all
employers treated, with the Employer, as a single employer under
subsections (b), (c), (m), or (o) of Code Section 414 also permit catch up
contributions (except a plan maintained by the Employer that is qualified
under Puerto Rico law), as provided in Code Section 414(v)(4) and IRS
guidance issued thereunder. The effective date applicable to catch-up
contributions must likewise be consistent among all plans described
immediately above, to the extent required in Code Section 414(v)(4) and
IRS guidance issued thereunder.
(b) PLAN LIMIT ON ELECTIVE DEFERRAL FOR PLANS PERMITTING CATCH-UP
CONTRIBUTIONS. This Section (b) is inapplicable if the Plan converted to
this Fidelity document from any other document effective after April 1,
2002.
For Plans that permit catch-up contributions beginning on or before April
1,2002, pursuant to (a)(1) above, the 60% Plan Limit described in Section
5.03(b)(2) shall apply beginning April 1, 2002, unless (b)(1) or (b)(2) is
selected below. For Plans that permit catch up contributions beginning
after April 1, 2002, pursuant to (a)(1) above, the Plan Limit set out in
Section 1.07(a)(1) shall continue to apply unless and until the Employer's
election in (b)(2) below, if any, provides for a change in the Plan Limit.
(1) [ ] The Plan Limit set out in Section 1.07(a)(1) shall continue
to apply on and after April 1,2002.
(2) [ ] The Plan Limit set out in Section 1.07(a)(1) shall continue
to apply until_______________(cannot be before April 1, 2002),
and the Plan Limit after that date shall be__% of Compensation
each payroll period.
(c) MATCHING EMPLOYER CONTRIBUTIONS ON CATCH-UP CONTRIBUTIONS. The Employer
must select the box below only if the Employer selected (a)(1) above, and
the Employer wants to provide Matching Employer Contributions on catch-up
contributions. In that event, the same rules that apply to Matching
Employer Contributions on Deferral Contributions other
Plan Number: 48295
The CORPORATEplan for Retirement(SM) Non-Std PS Plan
10/09/2003
(C)2003 FMR Corp.
All rights reserved.
1
than catch-up contributions will apply to Matching Employer Contributions
on catch-up contributions.
[ ] Notwithstanding anything in 2.01(1) to the contrary, Matching
Employer Contributions under Section 1.10 shall apply to catch-up
contributions described in Section 5.03(b)(1).
(d) VESTING OF MATCHING EMPLOYER CONTRIBUTIONS. Complete this section (d) only
if the vesting schedule for Matching Employer Contributions under the Plan
must be amended to comply with EGTRRA. This is the case if, in the absence
of an amendment, the vesting schedule for Matching Employer Contributions
would not be at least as rapid as Three-Year Cliff or Six-Year Graded
Vesting, effective for Participants with at least one Hour of Service on
or after the first Plan Year beginning after December 31, 2001, subject to
the rule described in (2) below. Complete (d)(1) to specify the new
vesting schedule; any vesting schedule changes must conform to the
requirements of Section 16.04 of the Plan. Only complete (d)(2) if your
Plan is maintained pursuant to a collective bargaining agreement ratified
by June 7, 2001. Complete (d)(3) if the Employer wants to apply the
vesting schedule selected in (d)(1) to only the portion of a Participant's
accrued benefits derived from Matching Employer Contributions for Plan
Years beginning after December 31, 2001.
(1) VESTING SCHEDULE FOR MATCHING EMPLOYER CONTRIBUTIONS. Unless the
Employer checks the box in (d)(3) of this EGTRRA Amendments
Addendum, the Vesting Schedule set forth below shall apply to all
accrued benefits derived from Matching Employer Contributions for
Participants who complete an Hour of Service under the Plan in a
Plan Year beginning after December 31,2001, regardless of the Plan
Year for which such contributions are made, subject to the
Employer's election of a later effective date as indicated in (d)(2)
below:
[ ] 100% Vesting immediately
[ ] 3-Year Cliff (see C below)
[ ] 6-Year Graded (see E below)
[ ] Other Vesting Schedule (complete G3 below, but must be at
least as favorable as either C or E)
APPLICABLE VESTING SCHEDULE
YEARS OF
VESTING SERVICE C E G3
- --------------- ---- ---- ----
0 0% 0% _%
1 0% 0% _%
2 0% 20% _%
3 100% 40% _%
4 100% 60% _%
5 100% 80% _%
6 or more 100% 100% 100%
(2) DELAYED EFFECTIVE DATE FOR PLANS SUBJECT TO COLLECTIVE BARGAINING.
If the plan is maintained pursuant to one or more collective
bargaining agreements ratified by June 7, 2001, the effective date
for faster vesting of Matching Employer Contributions for
Participants covered by such a collective bargaining agreement can
be delayed by checking the box below and inserting the effective
date, which is the first day of the first Plan Year beginning on or
after the earlier of (i) January 1, 2006, or (ii) the later of the
date on which the last of the collective bargaining agreements
described above terminates (without regard to any extension on or
after June 7, 2001), or January 1, 2002.
[ ] The vesting schedule elected by the Employer in (d)(1) above
shall apply to those Participants covered by a collective
bargaining agreement(s) ratified by June 7, 2001, who have at
least one Hour of Service on or after ____________________.
Unless the Employer selects the box in (d)(3) below, the
vesting schedule selected in (d)(1) above shall
Plan Number: 48295
The CORPORATEplan for Retirement(SM) Non-Std PS Plan
10/09/2003
(C)2003 FMR Corp.
All rights reserved.
2
apply to the entire accrued benefit derived from Matching
Employer Contributions of such Participants with an Hour of
Service in a Plan Year beginning on or after the date
specified herein. For all other Participants, the vesting
schedule shall apply as of the date and in the manner
described in (d)(1) and, where applicable,(d)(3).
(3) GRANDFATHERED APPLICATION OF PRIOR VESTING SCHEDULE. The Employer
must check the box below only if the Employer wants to grandfather
an existing vesting schedule and apply the vesting schedule that the
Employer selected in (d)(1) above to only that portion of a
Participant's accrued benefit derived from Matching Employer
Contributions for Plan Years beginning after December 31, 2001,
(and/or for Plan Years beginning on or after the date specified in
(d)(2), for any Participants subject to (d)(2), if selected by the
Employer).
[ ] The Vesting Schedule in (d)(1) above shall apply only to the
portion of a Participant's accrued benefits derived from
Matching Employer Contributions under the Plan in a Plan Year
beginning after December 31, 2001, or such later date
applicable to the Participant if specified in (d)(2) above.
(e) ROLLOVERS OF AFTER-TAX EMPLOYEE CONTRIBUTIONS TO THE PLAN. The Employer
must mark the box below only if the Employer does not want the Plan to
accept Participant Rollover Contributions of qualified plan after-tax
employee contributions, as described in Section 5.06, which would
otherwise be effective for distributions after December 31, 2001:
[ ] Participant Rollover Contributions or direct rollovers of qualified
plan after-tax employee contributions shall not be accepted by the
Plan at any time.
(f) APPLICATION OF THE SAME DESK RULE. The Employer must mark the box below
only if the Employer wants to discontinue the application of the same desk
rule set forth in Section 12.01(a).
[X] Effective for distributions from the Plan after December 31,2001, or
such later date as specified herein 01/01/2002, a Participant's
elective deferrals, qualified nonelective contributions and
qualified matching contributions, if applicable, and earnings
attributable to such amounts shall be distributable, upon a
severance from employment as described in Section 12.01(b),
effective only for severances occurring after___________(or, if no
date is entered, regardless of when the severance occurred).
Plan Number: 48295
The CORPORATEplan for Retirement(SM) Non-Std PS Plan
10/09/2003
(C)2003 FMR Corp.
All rights reserved.
3
AMENDMENT EXECUTION
(FIDELITY'S COPY)
IN WITNESS WHEREOF, the Employer has caused this Amendment to be executed this
27th day of December, 2004.
EMPLOYER: Compass Minerals International, Inc. EMPLOYER:________________________
By: /s/ Victoria Heider By: ________________________
Title: Vice President, Human Resources Title: ________________________
ACCEPTED BY: Fidelity Management Trust Company, as Trustee
By: /s/ Michael G. Skinner Date: 1-11-2005
Title: Authorized Signatory
Plan Number: 48295
The CORPORATEplan for Retirement(SM) Non-Std PS Plan
10/09/2003
(C)2003 FMR Corp.
All rights reserved.
4
AMENDMENT EXECUTION
(EMPLOYER'S COPY)
IN WITNESS WHEREOF, the Employer has caused this Amendment to be executed this
27th day of December, 2004.
EMPLOYER: Compass Minerals International, Inc. EMPLOYER:________________________
By: /s/ Victoria Heider By: ________________________
Title: Vice President, Human Resources Title: ________________________
ACCEPTED BY: Fidelity Management Trust Company, as Trustee
By: /s/ Michael G. Skinner Date: 1-11-2005
Title: Authorized Signatory
Plan Number: 48295
The CORPORATEplan for Retirement(SM) Non-Std PS Plan
10/09/2003
(C)2003 FMR Corp.
All rights reserved.
5