Adoption Agreement (409K)
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Metropolitan Life Insurance Company
ADOPTION AGREEMENT
for a
NON-STANDARDIZED
401(k) PLAN
By signing this Adoption Agreement, you (the employer) are adopting or
amending a 401(k)/profit sharing plan for the benefit of your eligible
employees. The terms of the plan are contained in the Metropolitan Life
Insurance Company Defined Contribution Basic Plan Document and in this
Adoption Agreement.
You should submit this non-standardized plan to your Internal Revenue
Service Key District Office for a determination that it is a tax-qualified
plan.
Please fill out this Adoption Agreement completely and properly. Failure to
do so may result in plan disqualification. Please type or print clearly
with a pen; do not use a pencil. Please make a copy of this Adoption
Agreement for your records.
PART A - GENERAL INFORMATION
A.1. NAME OF PLAN: This plan shall be known as the:
Interpool, Inc. Employee Savings Plan
A.2. NAME OF THE EMPLOYER: Interpool, Inc.
A.3. EMPLOYER TAX IDENTIFICATION NUMBER: 13-3467669
A.4. EMPLOYER'S ADDRESS: 211 College Road East
Princeton, NJ 08540
A.5. PLAN ADMINISTRATOR (If not the Employer):
ADDRESS:
A.6. TYPE OF BUSINESS ENTITY: |_| Partnership
|_| Limited Liability Partnership |_| Sole Proprietor
|_| Limited Liability Company |X| C Corporation
|_| S Corporation |_| Governmental Entity
|_| Tax-Exempt Organization |_| Other
A.7. DATE EMPLOYER'S BUSINESS COMMENCED: 1968
A.8. LAST DAY OF EMPLOYER'S TAXABLE YEAR: 12/31
--------------------------------
(month/day)
A.9. PLAN NUMBER: 002
---------
A.10. PLAN YEAR:
The plan year is the employer's Taxable Year unless another 12
consecutive month period is selected below.
Indicate last day of plan year if other than the Employer's
Taxable Year
------------------
(month/day)
|_| The period commencing on ____________________ and ending on
_______________; thereafter, the 12 month period commencing
on _______________________ and each anniversary thereof.
The limitation year is the plan year unless another 12-month
period is selected below:
|_| the limitation year will be from _________________________
to _______________________
A.11. NAME OF AMENDED PLAN:
Interpool, Inc. Employee Savings Plan
Original Effective Date: 7/1/1993
--------------------------------
A.12. ADOPTION OR AMENDMENT OF PLAN (complete either A., B. or C.)
A. The effective date of the new plan established by the
execution of this Adoption Agreement is: __________________
B. The effective date of amendments adopted by the execution
of this Adoption Agreement is: 9/1/2001
C. The effective date of this amendment to an earlier
Metropolitan Life Insurance Company Adoption Agreement
is: _____________________
PART B - PARTICIPATION
B.1. ELIGIBILITY (Plan ss.4.2)
There will be no age requirement unless checked below.
|_| An employee must have attained the age of _____________
(may not be greater than 21).
There will be no service requirement unless checked below.
|_| One year of service.
|_| _____ Months of Service (not to exceed 12) (If less than one
year of service is selected, the 1,000 hour of service
requirement for eligibility cannot be used.)
If the year(s) of service selected is or includes a fractional
year, an employee will not be required to complete any specified
number of hours of service to receive credit for such fractional
year.
|_| If checked, the above eligibility requirements apply for
purposes of eligibility to receive employer matching
contributions or employer profit-sharing contributions
and the following eligibility requirements apply for
purposes of eligibility to have 401(k) savings
contributions made on an employee's behalf or for an
employee to make after-tax savings contributions:
There will be no age requirement unless checked below.
|_| An employee must have attained the age of _______
(may not be greater than 21).
There will be no service requirement unless checked
below.
|_| One year of service.
|_| Months of Service (not to exceed 12). (If less than
one year of service is selected, the 1,000 hour of
service requirement for eligibility cannot be
used.)
If the year(s) of service selected is or includes a
fractional year, an employee will not be required
to complete any specified number of hours of
service to receive credit for such fractional year.
|_| Waiver of Requirements for New or Amended Plan.
If checked, each employee employed on the effective date
is automatically eligible to participate. Employees hired
after the effective date or amendment date are eligible
upon satisfying any service and/or age requirement.
B.2 SERVICE RULES (Plan ss.3A.2)
(a) Select one of the methods of measuring eligibility
service below.
|_| Hours of Service Method. (Plan ss. 3A)
An employee's service will be determined by
counting hours of service.
The employee must complete _____ hours of
service during a computation period to be
credited with a year of service. (Insert number;
cannot exceed 1,000.)
Hours of Service. An employee is credited with
his actual hours of service. However, if the
Employer checks one of the following boxes, an
employee is credited with the number of hours
specified:
|_| 10 hours per day
|_| 45 hours per week
|_| 95 hours per half month
|_| 190 hours per month
|X| Elapsed Time Method. (Plan ss.3B)
An employee's service will be determined using
the elapsed time method.
(b) Computation Periods. (Plan ss.3A or 3B)
For eligibility purposes, computation periods are used to
measure an employee's years of service.
|_| If checked, an employee's computation periods
are his first employment year, the first plan
year beginning within his first employment year,
and subsequent plan years. (Cannot be selected
if the Elapsed Time Method is chosen in (a)
above.)
|X| If checked, computation periods are an
employee's employment years.
B.3. Prior service with other businesses. (Planss.3A.10(c) or 3B.6(c))
(a) Predecessor Employers.
List any predecessor employer (other than the employer
adopting this plan, any related employer, or an employer
which previously carried on the employer's business) for
which service will count for eligibility and vesting
purposes.
Transamerica Leasing, Inc.
(b) Related Employers. (Plan ss. 3A.10 or 3B.6)
Years of service with the entities related to the employer
in the manner described in Code ss. 414(b), (c), (m), or (o)
shall include years before such entities were so related
unless otherwise noted below. List entities and special
restrictions:
B.4. ENTRY DATES (Plan ss. 4.3)
The plan's entry dates will be the first day of each of the first
and seventh months of the plan year, unless more frequent entry
dates are selected below:
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