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Document Preview Employees' Retirement Program Part II Union Hourly Employees' Retirement Plan [Amendment No. 3 to Amended and Restated] |
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Title: |
Employees' Retirement Program Part II Union Hourly Employees' Retirement Plan [Amendment No. 3 to Amended and Restated] |
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Entities: |
FMC Corp.; FMC Technologies, Inc.; AFL-CIO; International Association of Machinists & Aerospace Workers; United Automobile, Aerospace & Agricultural Implement Workers of America; FMC Technologies, Inc. |
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Date: |
2001 |
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Size: |
Preview shows 3KB of 14KB total |
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Price: |
$37 |
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ID: |
#228007 |
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THIRD AMENDMENT
OF
FMC CORPORATION EMPLOYEES' RETIREMENT PROGRAM
PART II UNION HOURLY EMPLOYEES'
RETIREMENT PLAN
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(As Amended and Restated Effective January 1, 1999)
WHEREAS, FMC Corporation (the "Company") maintains the FMC Corporation
Employees' Retirement Program Part II Union Hourly Employees' Retirement Plan
(the "Plan"); and
WHEREAS, the Company's existing businesses are being separated into two
independent businesses, to be known at FMC Corporation and FMC Technologies,
Inc. ("FTI"), in accordance with the terms of the Separation and Distribution
Agreement, by and between the Company and FTI; and
WHEREAS, in connection with such separation, certain Company employees are
transferring employment to FTI (the "FTI Employees"); and
WHEREAS, pursuant to the terms of the Employee Benefits Agreement by and
between the Company and FTI (the "Benefits Agreement") FTI has agreed to
establish a defined benefit pension plan that mirrors the terms of this Plan for
the benefit of the FTI Employees (the "FTI Plan") and has agreed to establish a
tax-exempt trust to accept a transfer of Plan assets attributable to the FTI
Employees; and
WHEREAS, it is desirable that the FTI Employees who are Plan participants
cease to accrue any benefit under this Plan after their transfer to FTI; and
WHEREAS, the Company has negotiated certain benefit increases with respect
to employees of covered by the collective bargaining agreements between the
Company and (i) the International Union, United Automobile, Aerospace and
Agricultural Implement Workers of
{PAGE}
America Local No. 714 and (ii) the International Association of Machinists and
Aerospace Workers, AFL-CIO, District 76, Local Lodge 1180; and
WHEREAS, amendment of the Plan is now considered desirable to reflect these
changes.
NOW, THEREFORE, by virtue and in exercise of the powers reserved to the
Company under Section 11.1 of the Plan, and pursuant to authority delegated to
the undersigned officer of the Company by resolution of its Board of Directors,
the Plan is hereby amended, effective as of May 1, 2001, in the following
respects:
1. FTI shall cease being a Participating Employer under the Plan as of
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