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Employee Stock Ownership Plan

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Title:

Employee Stock Ownership Plan

Entities:

Blue Ridge Paper Products Inc; Paper, Allied-Industrial, Chemical & Energy Workers International Union

Date:

2004

Size:

118KB total

Price:

$57

ID:

#1623494

► Plans ► Ownership ► Stock ► Employee Stock Ownership Plans
► Miscellany ► Unions

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TABLE OF CONTENTS

ARTICLE 1 GENERAL
1.1	Purpose and Effective Date
1.2	Employers and Related Companies
1.3	Trust Agreement and Plan Administration
1.4	Plan Year
1.5	Accounting Date
1.6	Applicable Laws
1.7	Gender and Number
1.8	Notices
1.9	Evidence
1.10	Action By Employer
1.11	No Reversion to Employers
1.12	Highly Compensated Employees
1.13	Investment of Trust Assets

ARTICLE 2 PLAN PARTICIPATION
2.1	Entry Date
2.2	Eligibility for Participation
2.3	Participation Not Guarantee of Employment
2.4	Restricted Participation
2.5	Leased Employees
2.6	Military Service
2.7	Omission of Eligible Employee
2.8	Inclusion of Ineligible Employee

ARTICLE 3 [RESERVED]

ARTICLE 4 PLAN CONTRIBUTIONS
4.1	Annual Employer ESOP Contributions
4.2	Specific Implementation
4.3	Company Stock
4.4	Acquisition Loans
4.5	No Participant Contributions

ARTICLE 5 PLAN ACCOUNTING
5.1	Participants? Accounts
5.2	Adjustment of ESOP Stock Accounts
5.3	Adjustment of ESOP Cash Accounts
5.4	Allocation and Crediting of Company ESOP Contributions
5.5	Limitation on Allocations to Participants
5.6	Statement of Plan Interest
5.7	Compensation and Section 415 Compensation
5.8	Overflow Plan

ARTICLE 6 TERMINATION DATE
6.1	Overview on Distributions
6.2	Termination Date

ARTICLE 7 DISTRIBUTIONS
7.1	Distributions on Account of Termination of Employment
7.2	Manner of Distributions
7.3	Form of Distributions
7.4	Time of Distribution
7.5	Distribution to Participant?s Beneficiary Upon Death
7.6	Facility of Payment
7.7	Interests Not Transferable
7.8	Absence of Guaranty
7.9	Designation of Beneficiary
7.10	Missing Participants or Beneficiaries
7.11	Qualified Domestic Relations Order
7.12	Pre-Retirement Diversification Rights
7.13	Direct Rollovers
7.14	Account Forfeiture for Probationary Employees

ARTICLE 8 VOTING AND TENDERING OF COMPANY STOCK
8.1	Voting
8.2	Tender
8.3	Fiduciary Responsibilities
8.4	Procedures for Voting and Tender

ARTICLE 9 RIGHTS, RESTRICTIONS AND OPTIONS ON COMPANY STOCK
9.1	Right of First Refusal
9.2	Put Option
9.3	Publicly Traded Company Stock
9.4	Share Legend
9.5	Nonterminable Rights

ARTICLE 10 DIVIDENDS
10.1	Dividends Credited to ESOP Cash Accounts
10.2	Dividends Paid to Participants
10.3	Dividends Used to Repay Acquisition Loan

ARTICLE 11 PLAN ADMINISTRATION
11.1	Membership and Authority
11.2	Delegation By Committee
11.3	Uniform Rules
11.4	Information to be Furnished to Committee
11.5	Exercise of Committee?s Duties
11.6	Scope of Authority of Committee; Operation of Committee
11.7	Plan Interpretation

11.8	Plan Expenses
11.9	Meetings and Voting
11.10	Compensation
11.11	Claims Procedures
11.12	Liabilities

ARTICLE 12 AMENDMENTS
12.1	Right to Amend
12.2	Amendment by Committee
12.3	Plan Merger and Asset Transfers

ARTICLE 13 TERMINATION
13.1	Right to Terminate
13.2	Effect of Termination

ARTICLE 14 TOP-HEAVY PROVISIONS

ARTICLE 15 SPECIAL PROVISIONS FOR MORRISTOWN FACILITY
15.1	Scope
15.2	Time of Distributions
15.3	Mandatory Small Benefit Distribution

iii

BLUE RIDGE PAPER PRODUCTS
EMPLOYEE STOCK OWNERSHIP PLAN

ARTICLE 1

GENERAL

1.1 Purpose and Effective Date. Effective as of May 14, 1999 (the ?Effective Date?), BLUE RIDGE HOLDING CORP., a Delaware corporation (the ?Company?), established the BLUE RIDGE PAPER PRODUCTS EMPLOYEE STOCK OWNERSHIP PLAN (the ?Plan?) to enable the employees of the Company and its subsidiaries (including Blue Ridge Paper Products Inc.) to participate in the equity ownership of the Company. The Plan is intended to be an employee stock ownership plan within the meaning of Section 4975(e)(7) of the Internal Revenue Code of 1986, as amended (the ?Code?). The Plan is intended to be a money purchase and stock bonus plan, both of which are intended to qualify under Section 401(a) of the Code. All contributions to the trust (the ?Trust?) which implements and forms a part of the Plan, not in excess of 15% of the aggregate compensation of participants under the Plan shall be made to the money purchase component of the plan and any contributions above such amount shall be made to the stock bonus component of the Plan.

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