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Title: |
401(K) Stock Savings Plan |
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Date: |
2003 |
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#911745 |
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ROADWAY LLC
401(K) STOCK SAVINGS PLAN
(AMENDED AND RESTATED EFFECTIVE DECEMBER 11, 2003)
<PAGE>
ROADWAY LLC
401(K) STOCK SAVINGS PLAN
(AMENDED AND RESTATED EFFECTIVE DECEMBER 11, 2003)
TABLE OF CONTENTS
<TABLE>
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<S> <C>
INTRODUCTION............................................................... 1
ARTICLE I. PRELIMINARY MATTERS............................................ 2
1.1 Qualified Plan ...................................................... 2
1.2 Discretionary Powers ................................................ 2
1.3 Construction ........................................................ 2
ARTICLE II. DEFINITIONS ................................................... 2
2.1 Generally ........................................................... 2
Account and Sub-Account ............................................. 2
Administrative Committee............................................. 2
After-Tax Contributions ............................................. 3
Before-Tax Contributions ............................................ 3
Beneficiary ......................................................... 3
Board ............................................................... 3
Code ................................................................ 3
Company ............................................................. 3
Company Stock ....................................................... 3
Company Stock Fund .................................................. 3
Compensation ........................................................ 3
Contributions ....................................................... 4
Controlled Group .................................................... 4
Controlled Group Member ............................................. 4
Covered Employee .................................................... 4
Death Beneficiary ................................................... 4
Effective Date ...................................................... 5
Eligible Employee ................................................... 5
Eligible Retirement Plan ............................................ 5
Eligible Rollover Distribution ...................................... 5
Employee ............................................................ 6
Employer ............................................................ 6
Employer Contributions .............................................. 6
Employment Commencement Date ........................................ 6
Enrollment Date ..................................................... 7
ERISA ............................................................... 7
FedEx Corp. Stock ................................................... 7
FedEx Stock Fund .................................................... 7
</TABLE>
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Fiduciary ........................................................... 7
Full-Time Employee .................................................. 7
Hardship ............................................................ 7
Highly Compensated Employee ......................................... 8
Hours of Service .................................................... 8
Instrument of Adoption .............................................. 9
Investment Committee................................................. 9
Investment Funds .................................................... 9
Matching Employer Contributions ..................................... 9
Named Fiduciary ..................................................... 9
One-Year Break in Service or 1-Year Break in Service ................ 9
Participant ......................................................... 10
Part-Time Employee .................................................. 11
Period of Service ................................................... 11
Period of Severance ................................................. 12
Plan ................................................................ 12
Plan Administrator .................................................. 12
Plan Year ........................................................... 12
Predecessor Employer ................................................ 12
Prior Plans ......................................................... 12
Profit Sharing Contributions ........................................ 12
Qualified Nonelective Contributions ................................. 12
Reemployment Commencement Date ...................................... 13
Rollover Contributions .............................................. 13
Safe Harbor Matching Contribution ................................... 13
Salary Reduction Agreement .......................................... 13
Service ............................................................. 13
Severance Date ...................................................... 13
Spouse .............................................................. 13
Stock Bonus Portion ................................................. 13
Temporary or Casual Employee ........................................ 13
Termination of Employment ........................................... 13
Totally and Permanently Disabled .................................... 13
Trust ............................................................... 14
Trust Agreement ..................................................... 14
Trust Fund .......................................................... 14
Trustee ............................................................. 14
Valuation Date ...................................................... 14
Year of Service ..................................................... 14
ARTICLE III. ELIGIBILITY FOR PARTICIPATION ........................... 15
3.1 Eligibility to Participate .......................................... 15
3.2 Duration of Participation ........................................... 16
3.3 Participation Due to Administrative Error ........................... 16
</TABLE>
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<TABLE>
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ARTICLE IV. PARTICIPANT CONTRIBUTIONS ..................................... 16
4.1 Amount of Before-Tax and After-Tax Contributions .................... 16
4.2 Maximum and Minimum Contributions ................................... 17
4.3 Payments to Trustee ................................................. 17
4.4 Changes in Contributions ............................................ 17
4.5 Suspension and Resumption of Contributions .......................... 18
4.6 Excess Deferrals .................................................... 18
4.7 Excess Before-Tax Contributions ..................................... 19
4.8 Excess Matching Employer and After-Tax Contributions ................ 20
4.9 Multiple Use of the Alternative Limitation .......................... 21
4.10 Monitoring Procedures ............................................... 22
4.11 Testing Procedures .................................................. 23
4.12 Rollover Contributions .............................................. 23
4.13 Transfers to this Plan from Other Plans ............................. 24
4.14 Deemed Satisfaction of the Limitations on Before-Tax
Contributions and Matching Employer Contributions
of Highly Compensated Employees .................................... 24
4.15 Notice Requirements for Safe Harbor Matching Contributions .......... 24
ARTICLE V. EMPLOYER CONTRIBUTIONS .................................. 25
5.1 Amount of Matching Employer Contributions ........................... 25
5.2 Allocation of Matching Employer Contributions ....................... 25
5.3 Safe Harbor Matching Contributions .................................. 26
5.4 Qualified Nonelective Contributions ................................. 26
5.5 Allocation of Qualified Nonelective Contributions ................... 26
5.6 Profit Sharing Contributions ........................................ 27
5.7 Allocation of Profit Sharing Contributions .......................... 27
5.8 Return of Contributions to Employers ................................ 27
5.9 Provisions Pursuant to Code Section 415(c) .......................... 28
5.9A Provision Pursuant to Code Section 415(e)............................ 29
5.10 Definitions ......................................................... 30
5.11 Funding Policy ...................................................... 31
5.12 No Duty to Enforce Payment .......................................... 31
ARTICLE VI. VESTING ....................................................... 31
6.1 Immediate Vesting ................................................... 31
ARTICLE VII. INVESTMENTS ............................................. 31
7.1 Investment Funds .................................................... 31
7.2 Account; Sub-Account ................................................ 33
7.3 Reports ............................................................. 33
7.4 Valuation of Investment Funds ....................................... 34
7.5 Investment of Contributions ......................................... 35
7.6 Change of Investments ............................................... 37
7.7 Investment Direction and Change Procedures - Future Contributions ... 37
</TABLE>
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7.8 Investment Direction and Change Procedures - Prior Contributions .... 37
7.9 Directions to the Trustee ........................................... 38
7.10 Voting of Allocated Company Stock and FedEx Corp. Stock ............. 38
7.11 Tender of Allocated Company Stock or FedEx Corp. Stock .............. 39
ARTICLE VIII. DISTRIBUTIONS AND WITHDRAWALS ........................... 42
8.1 Distributions Only As Provided ...................................... 42
8.2 Distributions upon Termination of Employment (Other than Death) ..... 42
8.3 Distribution upon Death ............................................. 43
8.4 Distribution Options ................................................ 44
8.5 Form and Valuation of Distribution .................................. 44
8.6 Latest Time of Distributions ........................................ 45
8.7 Minimum Required Distributions for Calendar Years After 2002......... 47
8.8 Withdrawal Requested by Participant ................................. 51
8.9 Suspension of Contributions Upon Withdrawal ......................... 53
8.10 Hardship Withdrawals ................................................ 53
8.11 Distributions Pursuant to Qualified Domestic Relations Orders ....... 54
8.12 Direct Rollovers .................................................... 54
8.13 Loans ............................................................... 55
ARTICLE IX. ADMINISTRATION OF THE PLAN
AND FIDUCIARY RESPONSIBILITIES .......................... 57
9.1 Responsibility for Administration ................................... 57
9.2 Named Fiduciaries ................................................... 58
9.3 Delegation of Fiduciary Responsibilities by Plan Administrator....... 58
9.4 Immunities .......................................................... 58
9.5 Limitation on Exculpatory Provisions ................................ 59
9.6 Administrative Committee............................................. 59
9.7 Interpretation of the Plan and Findings of Fact ..................... 60
9.8 Investment Committee................................................. 61
9.9 Operation of the Administrative Committee or the Investment
Committee...................................................... 62
9.10 Plan Administrator's Actions ........................................ 63
9.11 Correction of Errors ................................................ 63
ARTICLE X. CLAIMS PROCEDURES .............................................. 63
10.1 Claims .............................................................. 63
10.2 Review of Claims .................................................... 64
ARTICLE XI. AMENDMENT AND TERMINATION ..................................... 65
11.1 Right to Amend or Terminate ......................................... 65
11.2 Procedure for Termination or Amendment .............................. 65
11.3 Distribution Upon Termination ....................................... 65
11.4 Amendment Changing Vesting Schedule ................................. 66
11.5 Nonforfeitable Amounts .............................................. 66
11.6 Prohibition on Decreasing Accrued Benefits .......................... 66
</TABLE>
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ARTICLE XII. MISCELLANEOUS ................................................ 67
12.1 Employment Not Affected ............................................. 67
12.2 Inalienability ...................................................... 67
12.3 Incapacity to Receive Payment ....................................... 67
12.4 Unclaimed Benefits .................................................. 67
12.5 Dissolution, Merger or Consolidation of the Company ................. 68
12.6 Action by the Company ............................................... 68
12.7 Limitation to Rights Created Under the Plan ......................... 68
12.8 Recourse Against Officers, Directors or Stockholders ................ 68
12.9 Interpretation ...................................................... 68
12.10 Severability ........................................................ 69
12.11 Counterparts ........................................................ 69
12.12 Plan Merger or Transfer of Assets ................................... 69
12.13 Indemnification ..................................................... 69
12.14 Service of Process/Necessary Parties ................................ 70
12.15 Military Service .................................................... 70
12.16 Model EGTRRA Amendments ............................................. 70
ARTICLE XIII. ADOPTION OF PLAN BY CONTROLLED
GROUP MEMBERS ........................................... 70
13.1 Adoption Procedure .................................................. 70
13.2 Effect of Adoption by a Controlled Group Member ..................... 71
13.3 Withdrawal of an Employer ........................................... 71
ARTICLE XIV. TOP-HEAVY PLAN PROVISIONS .................................... 71
14.1 Definitions ......................................................... 71
14.2 Determination of Top-Heavy Status ................................... 73
14.3 Determination of Extra Top-Heavy Status ............................. 74
14.4 Requirements ........................................................ 74
14.5 Coordination With Other Plans ....................................... 75
14.6 Certain Changes Effective January 1, 2002 ........................... 76
EXHIBIT A
Employers Pursuant to Section 2.23......................................... 77
EXHIBIT B
Investment Funds........................................................... 78
</TABLE>
v
<PAGE>
ROADWAY LLC
401(K) STOCK SAVINGS PLAN
(AMENDED AND RESTATED EFFECTIVE DECEMBER 11, 2003)
INTRODUCTION
THIS PLAN is amended and restated effective the 11th day of December, 2003
by the Yellow Roadway Corporation, a Delaware corporation.
The Plan was established effective January 1, 1996 as the Roadway Express,
Inc. 401(k) Stock Savings Plan. As a result of a corporate reorganization and by
amendment to the Plan, effective January 1, 2002, the name of the Plan was
changed to the Roadway Corporation 401(k) Stock Savings Plan. As a result of the
merger of Roadway Corporation with and into Yankee LLC, a Delaware corporation
and a wholly owned subsidiary of Yellow Corporation pursuant to an Agreement and
Plan of Merger, dated as of July 8, 2003, and by this amendment and restatement,
the name of the Plan is changed to the "Roadway LLC 401(k) Stock Savings Plan."
This amendment and restatement of the Plan is effective December 11, 2003.
As provided herein, however, certain provisions of this amended and restated
Plan are effective as of some other date. Such provisions shall be deemed to
amend the corresponding provisions of the Plan as in effect before this
amendment and restatement and all amendments thereto. Events occurring before
the applicable effective date of any provision of this amendment and restatement
of the Plan shall be governed by the applicable provision of the Plan in effect
on the date of the event.
1
<PAGE>
ARTICLE I. PRELIMINARY MATTERS
1.1 QUALIFIED PLAN. The Plan is a profit-sharing plan maintained by the
Company for the exclusive benefit of Participants and their Beneficiaries.
The Plan is permitted to acquire and hold shares of common stock of the
Company, and is intended to comply with the provisions of the Code that
govern tax-qualified plans and ERISA.
1.2 DISCRETIONARY POWERS. All discretionary powers granted hereunder shall be
exercised in a uniform nondiscriminatory manner.
1.3 CONSTRUCTION.
(a) Unless the context otherwise indicates, the masculine wherever used
herein shall include the feminine and neuter, the singular shall
include the plural and words such as "herein", "hereof", "hereby",
"hereunder" and words of similar import refer to the Plan as a whole
and not to any particular part thereof.
(b) Wherever the word "person" appears in the Plan, it shall refer to
both natural legal persons.
(c) A number of the provisions of the Plan are designed to contain
provisions required or contemplated by certain federal laws and/or
regulations thereunder. All such provisions are intended to have the
meaning required or contemplated by such provisions of such law or
regulations and shall be construed in accordance with valid
regulations and valid published governmental rulings and
interpretations of such provisions. In applying such provisions of
the Plan, each Fiduciary may rely (and shall be protected in
relying) on any determination or ruling made by any agency of the
United States Government that has authority to issue regulations,
rulings or determinations with respect to the federal law thus
involved.
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