AMENDMENT NO. 2
TO THE
COMPSAVINGS PLAN FOR EMPLOYEES OF COMPUSA INC. AND TRUST
WHEREAS, CompUSA Inc. (the "Company"), approved and adopted the
CompSavings Plan for Employees of CompUSA Inc. (the "Plan") and Trust Agreement
(the "Trust") which were originally effective January 1, 1995, restated
effective January 1, 1996 and January 1, 1998, and subsequently amended;
WHEREAS, Section 19.1 of the Plan and Trust provides that the Company
reserves the right to amend the Plan and Trust;
NOW THEREFORE RESOLVED, that the Plan is amended as follows:
EFFECTIVE JANUARY 1, 1997:
1. Section 1 is amended to restate Subsection 1.49 as follows:
1.49 "Required Beginning Date". The latest date benefit payments
shall commence to Participant.
(a) For calendar years commencing before January 1, 1997,
such date shall mean:
(1) with regard to a Participant who attained
age 70 1/2 in 1996, did not terminate
employment with all Related Companies before
January 1, 1997, and is not or was not a 5%
Owner, the April 1 that next follows (i) the
calendar year in which the Participant
attained age 70 1/2, or (ii) if the
Participant elects to apply this clause
(ii), the calendar year in which the
Participant terminates employment with all
Related Companies (and any such election
must be made prior to January 1, 1998); and
(2) with regard to a Participant who attained
age 70 1/2 after December 31, 1987 and
before January 1, 1996 or, in 1996 if he or
she terminated employment with all Related
Companies before January 1, 1997 or is or
was a 5% Owner, the April 1 that next
follows the calendar year in which the
Participant attains age 70 1/2; and
(3) with regard to a Participant who attained
age 70 1/2 before January 1, 1988 and who is
not 5% Owner, the April 1 that next follows
the later of (i) the calendar year in which
the Participant attained age 70 1/2, or (ii)
the calendar year in which the Participant
terminates employment with all Related
Companies; and
(4) with regard to a Participant who attained
age 70 1/2 before January 1, 1988 and who is
a 5% Owner, the April 1 that next follows
the later of (i) the calendar year in which
the Participant attained age 70 1/2, or (ii)
the earlier of the calendar year in which or
within which ends the Plan Year in which the
Participant becomes a 5% Owner or the
calendar year in which he or she terminates
employment with all Related Companies.
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COMPSAVINGS PLAN AMENDMENT NO. 2
FOR EMPLOYEES OF COMPUSA INC. AND TRUST AGREEMENT
A Participant shall be considered a 5% Owner for this purpose if such
Participant is a 5% Owner as defined in Code section 416(i) (determined in
accordance with Code section 416 but without regard to whether the Plan is
top-heavy) at any time during the Plan Year ending with or within the calendar
year in which the Participant attains age 66 1/2 or in any subsequent Plan Year.
(b) For calendar years commencing after December 31, 1996, or before
January 1999, such date shall mean:
(1) with regard to a Participant who attained age 70 1/2 in 1997
or 1998 thereafter, the April 1 that next follows the calendar
year in which he or she attained age 70 1/2, except that if
the Participant did not terminate employment with all Related
Companies before January 1 of the calendar year following the
calendar year in which he or she attained age 70 1/2, is not a
5% Owner, such date shall instead mean the April 1 that next
follows (i) the calendar year in which the Participant
attained age 70 1/2, or (ii) if the Participant elects to
apply this clause (ii), the calendar year in which the
Participant terminates employment with all Related Companies
(and any such election must be made prior to the April 1 of
the calendar year following the calendar year in which he or
she attained age 70 1/2); and
(2) with regard to a Participant who is a 5% Owner, the April 1
that next follows the calendar year in which the Participant
attains age 70 1/2.
A Participant shall be considered a 5% Owner for this purpose if such
Participant is a 5% Owner with respect to the Plan Year ending in the calendar
year in which the Participant attains age 70 1/2.
(c) For calendar years commencing after December 31, 1998, such date shall
mean:
(1) with regard to a Participant who is not a 5% Owner, the April
1 that next follows the later of (i) the calendar year in
which the Participant attained age 70 1/2, or (ii) the
calendar year in which the Participant terminates employment
with all Related Companies; and
(2) with regard to a Participant who is a 5% Owner, the April 1
that next follows the calendar year in which the Participant
attains age 70 1/2.
A Participant shall be considered a 5% Owner for this purpose if such
Participant is a 5% Owner with respect to the Plan Year ending in the calendar
year in which the Participant attains age 70 1/2.
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COMPSAVINGS PLAN AMENDMENT NO. 2
FOR EMPLOYEES OF COMPUSA INC. AND TRUST AGREEMENT
Date: 4-29 , 1999 COMPUSA INC.
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By: Xxx XxXxxx
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Title: S VP HR
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The provisions of the above amendment that relate to the Trustee are hereby
approved and executed.
Date: MAY 3 , 1999 XXXXXXX XXXXX TRUST COMPANY, FSB
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By: Xxxxx Xxxxxxx
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Title: Assistant Vice President
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