FOURTH AMENDMENT TO
DST SYSTEMS, INC.
401(k) PLAN AND TRUST AGREEMENT
(1994 Restatement)
WHEREAS, by written instrument dated September 12, 1994, DST Systems,
Inc. adopted the DST Systems, Inc. 401(k) Plan and Trust Agreement (1994
Restatement); and
WHEREAS, DST Systems, Inc. in Section 11.01 reserved the right to amend
its said 401(k) Plan and Trust Agreement; and
WHEREAS, DST Systems, Inc. finds it desirable to amend the Plan to
permit rollovers to the Plan and to increase the amount of salary deferral
contributions permitted under the Plan, and UMB Bank, N.A., as Trustee, agrees
to such changes.
NOW, THEREFORE, DST Systems, Inc. and UMB Bank, N.A. agree that the DST
Systems, Inc. 401(k) Plan and Trust Agreement (1994 Restatement) be amended as
follows:
1. Section 4.03 is hereby deleted in its entirety and a new
Section 4.03 is provided to read as follows:
4.03. PARTICIPANT ROLLOVER CONTRIBUTIONS. Any Participant,
with the Employer's written consent and after filing with the Trustee
the form prescribed by the Advisory Committee, may contribute cash or
other property to the Trust other than as a voluntary contribution if
the contribution is a "rollover contribution" which the Code permits an
employee to transfer either directly or indirectly from one qualified
plan to another qualified plan. Before accepting a rollover
contribution, the Trustee may require an Employee to furnish
satisfactory evidence that the proposed transfer is in fact a "rollover
contribution" which the Code permits an employee to make to a qualified
plan. A rollover contribution is not an Annual Addition under Part II
of Article III.
The Trustee will invest the rollover contribution in a
segregated investment Account for the Participant's sole benefit in
accordance with Article XV unless the Trustee, in its sole discretion,
agrees to invest the rollover contribution as part of the Trust Fund.
The Trustee will not have any investment responsibility with respect to
a Participant's segregated rollover Account. The Trustee, in its sole
discretion, may permit the Participant, from time to time, to direct
the Trustee in writing as to the investment of his segregated rollover
Account other than in accordance with Article XV, in property, or
property interests, of any kind, real, personal or mixed; provided,
however, the Participant may not direct the Trustee to make loans to
his Employer. A Participant's segregated rollover Account alone will
bear any extraordinary expenses resulting from investments resulting
from investments made at the direction of the Participant. As of the
Accounting Date (or other valuation date) for each Plan Year, the
Advisory Committee will allocate and credit the net income (or net
loss) from a Participant's segregated rollover Account and the increase
or decrease in the fair market value of the assets of a segregated
Account solely to that Account. The Trustee is not liable nor
responsible for any loss resulting to any Beneficiary, nor to any
Participant, by reason of any sale or investment made or other action
taken pursuant to and in accordance with the direction of the
participant. In all other respects, the Trustee will hold, administer
and distribute a rollover contribution in the same manner as any
Employer contribution made to the Trust.
2. The third paragraph of Section 12.01 is hereby deleted in its
entirety and a new third paragraph is added to Section 12.01 to read as follows:
If the salary reduction agreement specifies the reduction
amount as a percentage of Compensation, the percentage may not be less
than one percent (1%) of Compensation and shall specify a reduction
percentage equal to an increment of one percent (1%). If the salary
reduction agreement specifies the reduction amount as a dollar amount
of Compensation, the dollar amount must equal an increment of $5. An
Employee's deferral contributions for the Plan year may not exceed ten
percent (10%) of his Compensation for the portion of the Plan Year in
which the Employee is actually a Participant. Further, each individual
deferral contribution may not exceed ten percent (10%) of Compensation
for the pay period for which such deferral contribution is calculated.
The Advisory Committee may from time to time specify a maximum deferral
percentage for Highly Compensated Employees that is less than ten
percent (10%). An Employee may modify his salary reduction agreement,
either to reduce or to increase the amount of deferral contributions,
as of the first day of any calendar quarter. The Employee shall make
this modification by filing a new salary reduction agreement with he
Advisory Committee. An Employee may revoke a salary reduction agreement
as of the first day of any calendar quarter. An Employee who revokes
his salary reduction agreement may file a new salary reduction
agreement effective as of a subsequent Plan Entry Date but not earlier
than six (6) months after the effective date of such revocation.
3. Section 15.02 is hereby deleted in its entirety and a new Section
15.02 is added to read as follows:
15.02 INVESTMENT OF ACCOUNTS. Each Participant's Deferral
Contributions Account, and any segregated rollover contributions account
invested in accordance with the provisions of this Article XV, shall be
invested, in accordance with the individual election of the Participant, in one
or more investment vehicles designated by the Advisory Committee, including
designated pooled investment funds.
4. Section 15.03 is hereby deleted in its entirety and a new Section
15.03 is added to read as follows:
15.03 PARTICIPANT ACCOUNTS--INVESTMENT PERCENTAGES. The
Advisory Committee from time to time shall establish procedures by
which each Participant may specify the percentage of his Deferral
Contributions Account and any segregated rollover contributions account
invested in accordance with this Article XV, and the percentage of
future contributions to be made on his behalf, to be invested in each
of the available investment vehicles for Accounts. The investment
percentage for each investment vehicle selected by the Participant must
be a multiple of 1%. The Participant's investment direction shall
remain in effect unless and until the Participant replaces the
direction in accordance with established procedures. Contributions and
Accounts with respect to which no affirmative Participant investment
direction has been made shall be invested in an investment vehicle or
vehicles selected by the Advisory Committee. The Trustee shall be
responsible for carrying out Participant investment direction.
5. The above amendment is effective January 1, 1998.
6. Except as herein amended, the aforesaid 401(k) Plan is hereby
ratified and confirmed.
IN WITNESS WHEREOF, DST Systems, Inc. and UMB Bank, N.A. have executed
this Fourth Amendment as of this 9th day of February, 1998.
DST SYSTEMS, INC.
By: /s/Xxxxxxx X. Xxxxx
Xxxxxxx X. Xxxxx
UMB BANK, N.A.
By: /s/Xxxx Xxxxxx
