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Document Preview 401(k) Savings and Investment Plan [Amended and Restated 2002] |
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Title: |
401(k) Savings and Investment Plan [Amended and Restated 2002] |
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Entities: |
Invitrogen Corp.; Life Technologies, Inc.; Dexter Corporation |
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Date: |
2002 |
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Size: |
Preview shows 25KB of 178KB total |
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Price: |
$78 |
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ID: |
#277480 |
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INVITROGEN
401(k) SAVINGS AND INVESTMENT PLAN
(As Amended and Restated Effective as of January 1, 2002, unless specified
otherwise)
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TABLE OF CONTENTS
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INTRODUCTION......................................................................................................1
ARTICLE 1 DEFINITIONS.............................................................................................2
1.1. Account or Accounts....................................................................................2
1.2. Administrative Committee or Committee..................................................................2
1.3. Affiliate..............................................................................................2
1.4. Beneficiary............................................................................................2
1.5. Board..................................................................................................2
1.6. Break in Service.......................................................................................2
1.7. Code...................................................................................................2
1.8. Company................................................................................................3
1.9. Company Stock Account..................................................................................3
1.10. Compensation...........................................................................................3
1.11. Disabled Participant...................................................................................3
1.12. Effective Date.........................................................................................3
1.13. Elective Contributions.................................................................................4
1.14. Employee...............................................................................................4
1.15. Employer...............................................................................................4
1.16. Employer Matching Contributions........................................................................4
1.17. Employer Profit Sharing Contributions..................................................................4
1.18. ERISA..................................................................................................4
1.19. ESOP Account...........................................................................................4
1.20. Highly Compensated Employee............................................................................4
1.21. Hour of Service........................................................................................5
1.22. Investment Fund........................................................................................5
1.23. Invitrogen Plan Stock Account..........................................................................6
1.24. Non-Highly Compensated Employee........................................................................6
1.25. Normal Retirement Date.................................................................................6
1.26. Participant............................................................................................6
1.27. Part-Time Employee.....................................................................................6
1.28. PAYSOP.................................................................................................6
1.29. PAYSOP Account.........................................................................................6
1.30. Plan...................................................................................................6
1.31. Plan Year..............................................................................................6
1.32. Pre-1985 Contributions Account.........................................................................6
1.33. Post Doctoral Fellow...................................................................................6
1.34. Supplemental Matching Contribution.....................................................................6
{/Table}
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1.35. Telephone Response System..............................................................................6
1.36. Temporary Employee.....................................................................................7
1.37. Trust or Trust Fund....................................................................................7
1.38. Trustee................................................................................................7
1.39. Valuation Date.........................................................................................7
1.40. Year of Vesting Service................................................................................7
ARTICLE 2 PARTICIPATION...........................................................................................7
2.1. General Participation Requirement......................................................................7
2.2. Re-employment Rules....................................................................................7
ARTICLE 3 CONTRIBUTIONS...........................................................................................7
3.1. Participants' Elective Contributions...................................................................7
3.2. Discretionary Qualified Nonelective Employer Contributions.............................................8
3.3. Employer Matching Contributions........................................................................8
3.4. Supplemental Matching Contribution.....................................................................8
3.5. Discretionary Employer Profit Sharing Contributions....................................................8
3.6. Forfeitures............................................................................................9
3.7. Voluntary After-Tax Contributions......................................................................9
3.8. Transfers from Other Plans.............................................................................9
3.9. Rollover Contributions.................................................................................9
3.10. Distribution of Excess Deferrals......................................................................10
3.11. Return of Contributions...............................................................................10
3.12. Uniformed Service Reemployment Rights.................................................................10
3.13. Limitations...........................................................................................10
ARTICLE 4 LIMITATIONS ON CONTRIBUTIONS...........................................................................11
4.1. Statutory Nondiscrimination Requirements..............................................................11
4.2. Modification of Contribution Elections................................................................12
4.3. Excess Elective Contributions.........................................................................13
4.4. Excess Employer Matching Contributions................................................................13
4.5. Other Limitations on Contributions and Benefits.......................................................13
ARTICLE 5 ACCOUNTS AND INVESTMENT FUNDS..........................................................................14
5.1. Maintenance of Accounts...............................................................................14
5.2. Adjustment of Accounts................................................................................14
5.3. Establishment of Investment Funds.....................................................................14
5.4. Investment Directions.................................................................................15
5.5. Company Stock Accounts................................................................................15
ARTICLE 6 ELIGIBILITY FOR AND DISTRIBUTION OF BENEFITS...........................................................15
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6.1. Normal Retirement or Total Disability.................................................................15
6.2. Other Termination of Employment.......................................................................15
6.3. Forfeitures...........................................................................................16
6.4. Method and Timing of Payment..........................................................................16
6.5. Required Commencement of Benefits.....................................................................16
6.6. Cashout of Small Benefits.............................................................................16
6.7. Death.................................................................................................17
6.8. Rollover Rights.......................................................................................17
6.9. Distributions Upon Corporate Transactions.............................................................18
ARTICLE 7 WITHDRAWALS............................................................................................19
7.1. In-Service Withdrawals................................................................................19
7.2. Hardship Withdrawals..................................................................................19
7.3. Withdrawal Requests...................................................................................20
ARTICLE 8 LOANS TO PARTICIPANTS..................................................................................20
8.1. Application for Loans.................................................................................20
8.2. Limitations on Loans..................................................................................21
8.3. Interest on Loans.....................................................................................21
8.4. Repayment of Loans....................................................................................21
8.5. Security for Loans....................................................................................22
ARTICLE 9 TOP HEAVY PROVISIONS...................................................................................23
9.1. Effect of Top Heavy Status............................................................................23
9.2. Definitions and Special Rules.........................................................................23
ARTICLE 10 ADMINISTRATION OF PLAN................................................................................24
10.1. Organization of Administrative Committee and Procedural Matters.......................................24
10.2. Powers of Administrative Committee....................................................................24
10.3. Operation of Administrative Committee.................................................................24
10.4. Resignation or Removal................................................................................25
10.5. Records and Reports...................................................................................25
10.6. Expenses..............................................................................................25
10.7. Indemnification.......................................................................................25
10.8. Claim for Benefits....................................................................................25
10.9. Review of Denied Claims...............................................................................26
10.10. Lost Participants.....................................................................................26
ARTICLE 11 TRUST FUND............................................................................................26
{/Table}
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11.1. General...............................................................................................26
11.2. No Diversion..........................................................................................26
11.3. Benefits Provided Solely by Trust Fund................................................................26
11.4. Employer Securities...................................................................................26
11.5. Appointment of Investment Manager.....................................................................27
ARTICLE 12 AMENDMENTS AND TERMINATION............................................................................27
12.1. Invitrogen May Amend Plan.............................................................................27
12.2. Withdrawal of Participating Employer..................................................................28
12.3. Termination...........................................................................................28
12.4. Distributions Upon Termination........................................................................28
12.5. Statutory Merger/Consolidation Rule...................................................................28
ARTICLE 13 ADOPTION OF PLAN BY AFFILIATE.........................................................................28
13.1. Adoption Procedure....................................................................................28
13.2. Effect of Adoption by Affiliate.......................................................................29
ARTICLE 14 MISCELLANEOUS.........................................................................................29
14.1. No Rights Conferred...................................................................................29
14.2. Benefits Limited to Trust Fund........................................................................29
14.3. Spendthrift Provision.................................................................................29
14.4. Payment to Minors or Incompetents.....................................................................30
14.5. Headings..............................................................................................30
14.6. Severability..........................................................................................30
14.7. Use of Electronic Media...............................................................................30
14.8. Conversion............................................................................................30
14.9. Construction..........................................................................................30
APPENDIX A Amendment to Invitrogen 401(k) Savings Plan...........................................................32
APPENDIX B Amendment to Dexter 401(k) Savings Plan...............................................................36
APPENDIX C Amendment to the Employees' Savings and Profit Sharing Retirement Income Trust of Dexter
Corporation and Dexter Corporation Nonwoven Materials-Plan Portion...................................42
APPENDIX D EGTRRA Plan Amendments................................................................................48
{/Table}
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{Page}
INVITROGEN 401(k) SAVINGS AND INVESTMENT PLAN
INTRODUCTION
The Life Technologies, Inc. Employee Stock Ownership Plan was amended and
restated, effective January 1, 1985, to add a cash or deferred arrangement
qualified under Code Section 401(k), and its name was changed to the Life
Technologies, Inc. Extra Savings Plan. The Life Technologies, Inc. Tax Credit
Employee Stock Ownership Plan (the "PAYSOP") was merged with and into the Life
Technologies, Inc. Extra Savings Plan as of December 31, 1993. The Life
Technologies, Inc. Extra Savings Plan, including the provisions relating to the
PAYSOP, was amended and restated in its entirety, effective as of January 1,
1989. The Life Technologies, Inc. Extra Savings Plan was again amended and
restated, effective as of the Merger Date (as hereinafter defined), (i) to
embody operational changes adopted to comply with requirements imposed under
recent legislation, (ii) to incorporate amendments adopted since January 1,
1989, (iii) to reflect the merger of Life Technologies, Inc. into Invitrogen
Corporation ("Invitrogen") on or about September 14, 2000 (the "Merger Date"),
pursuant to which Life Technologies, Inc. became a separate operating division
of Invitrogen, and (iv) to remove all restrictions on reallocating amounts
contributed as Company Stock into other Investment Funds, thereby terminating
the PAYSOP and ESOP features of the Life Technologies, Inc. Extra Savings Plan.
The Life Technologies, Inc. Extra Savings Plan is again amended and
restated, effective as of January 1, 2002, unless specified otherwise (i) to
reflect the merger of the Invitrogen Corporation 401(k) Salary Savings Plan (the
"Invitrogen 401(k) Plan"), Dexter 401(k) Savings Plan (the "Dexter 401(k)
Plan"), The Employees' Savings and Profit Sharing Retirement Income Trust of
Dexter Corporation and Dexter Corporation, Nonwoven Materials (the "Dexter
ESPRIT Plan") with and into the Life Technologies, Inc. Extra Savings Plan as of
January 1, 2002, (ii) to reflect the transfer of assets and liabilities from the
Novex 401(k) Employee Stock Ownership Plan and Trust Agreement (the "Novex
401(k) ESOP") to the Life Technologies, Inc. Extra Savings Plan as of January 1,
2002, (iii) to reflect the transfer of assets and liabilities from the Research
Genetics, Inc. 401(k) Plan (the "Research Genetics 401(k) Plan") to the Life
Technologies, Inc. Extra Savings Plan as of January 1, 2002, (iv) to embody
operational changes to the Invitrogen 401(k) Plan, Dexter 401(k) Plan and Dexter
ESPRIT Plan that were adopted to comply with requirements imposed under recent
legislation that is collectively referred to as GUST, (v) to reflect the
requirements imposed by the Community Renewal Tax Relief Act of 2000 ("CRA")
(vi) to reflect certain provisions of the Economic Growth and Tax Relief
Reconciliation Act of 2001 ("EGTRRA"), in accordance with sample plan amendments
set forth in Internal Revenue Service Notice 2001-57, the EGTRRA amendments are
intended as good faith compliance with the requirements of EGTRRA and are to be
construed in accordance with EGTRRA and guidance issued thereunder, (vii) to
reflect certain design changes effective as of January 1, 2002, and (viii) to
reflect the change in name to the Invitrogen 401(k) Savings and Investment Plan
(the "Plan").
1
{Page}
Participants in the Plan who retired or terminated their employment prior
to the Effective Date shall look solely to the prior version of the Plan for
their benefits, if any, payable in accordance with the applicable provisions of
such prior versions, except as such provisions may be modified by provisions of
this Plan document with a different effective date. Participants in the
Invitrogen 401(k) Plan, Dexter 401(k) Plan, Dexter ESPRIT Plan, Novex 401(k)
ESOP, and Research Genetics 401(k) Plan who retired or terminated their
employment prior to the Effective Date, shall look solely to the prior
applicable plan document for their benefits, if any, payable in accordance with
the applicable provisions of such prior plan documents, except as such
provisions may be modified by provisions of this Plan document with a different
effective date.
ARTICLE 1
DEFINITIONS
Wherever used herein, the masculine includes the feminine, the singular includes
the plural, and the following terms have the following meanings unless a
different meaning is clearly required by the context.
1.1. ACCOUNT OR ACCOUNTS means any one or more of the bookkeeping accounts
established and maintained hereunder, representing a Participant's interest in
the Trust Fund. Effective January 1, 2002, the Plan shall have the following
types of contribution accounts: Pre-Tax, After-Tax, Match, Profit Sharing,
PAYSOP, ESOP, Catch-Up, and Rollover.
1.2. ADMINISTRATIVE COMMITTEE OR COMMITTEE means the committee appointed
hereunder to administer the Plan.
1.3. AFFILIATE means any entity (whether or not incorporated) the employees
of which, by reason of its relationship with Invitrogen, are required to be
aggregated with employees of Invitrogen under Section 414(b), 414(c), 414(m) or
414(o) of the Code, but only to the extent of the applicable requirement.
1.4. BENEFICIARY means any person entitled to receive benefits under the
Plan by reason of the death of a Participant, former Participant or Beneficiary.
1.5. BOARD means the Board of Directors of Invitrogen.
1.6. BREAK IN SERVICE means a Plan Year during which an individual does not
complete more than 500 Hours of Service. Solely for the purpose of determining
whether a Break in Service occurs, an individual who is absent from work because
of the individual's pregnancy, the birth of the individual's child, the adoption
of a child by the individual, or the care of the individual's newborn or newly
adopted child, will be credited with the Hours of Service which would otherwise
have been credited in the Plan Year in which the absence from work begins if
such crediting is necessary to prevent a Break in Service in that Plan Year or,
if not, in the following Plan Year.
1.7. CODE means the Internal Revenue Code of 1986, as amended.
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