EGTRRA ADOPTION AGREEMENT ADDENDUM FOR #01003 and #01005
Exhibit 10.26.1
FOR
#01003 and #01005
The
Employer hereby agrees that the following elections and terms shall be part of
the Prototype Defined Contribution Plan Document #01.
|
TOP-HEAVY
MODIFICATIONS |
| 1. |
Minimum
Benefits for Employees Also Covered Under Another Plan:
|
| (a) |
If the
Employer maintains another plan(s) covering any Participant under this Plan,
the minimum allocation requirements applicable to Top-Heavy Plans will be
satisfied as provided in the Adoption Agreement for the Plan.
|
| (b) |
This
minimum allocation will be satisfied as follows
(describe the top-heavy contribution formula): |
| ( ) |
3% of
each Participant’s Compensation; |
| (X) |
3% of
each Non-Key Participant’s Compensation; |
| ( ) |
Other:______________________________
|
|
PORTABILITY
ELECTIONS |
| 2. |
Direct
Rollovers: The
Plan will accept a Direct Rollover of an Eligible Rollover Distribution from:
(Check each that applies or N/A.) |
| ( ) |
N/A. The
Plan will not accept Direct Rollovers from any plan. |
| (X) |
a
qualified plan described in Section 401(a) or 403(a) of the Code, excluding
after-tax employee contributions. |
| ( ) |
a
qualified plan described in Section 401(a) or 403(a) of the Code, including
after-tax employee contributions. |
| (X) |
an
annuity contract described in Section 403(b) of the Code, excluding after-tax
employee contributions. |
| (X) |
an
eligible plan under Section 457(b) of the Code which is maintained by a state,
political subdivision of a state, or any agency or instrumentality of a state
or political subdivision of a state. |
| 3. |
Participant
Rollover Contributions from Other Employer Plans: The
Plan will accept a Participant contribution of an Eligible Rollover
Distribution from: (Check each that applies or N/A.) |
| ( ) |
N/A. The
Plan will not accept Rollover Contributions from any employer
plan. |
| (X) |
a
qualified plan described in Section 401(a) or 403(a) of the Code.
|
| (X) |
an
annuity contract described in Section 403(b) of the Code. |
| (X) |
an
eligible plan under Section 457(b) of the Code which is maintained by a state,
political subdivision of a state, or any agency or instrumentality of a state
or political subdivision of a state. |
| 4. |
Participant
Rollover Contributions from IRAs: |
The Plan
(X) will
( ) will not accept a Participant Rollover Contribution of the
portion of a distribution from an individual retirement account or annuity
described in Section 408(a) or 408(b) of the Code that is eligible to be rolled
over and would otherwise be includible in gross income.
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| 5. |
Effective
Date of Direct Rollover and Participant Rollover Contribution
Provisions: |
Section
6 of the EGTRRA Plan Amendment Addendum, “Rollovers From Other
Plans”, shall be effective: 01-25-2006
(Enter a
date no earlier than January 1, 2002.)
|
TREATMENT
OF ROLLOVERS IN CASH-OUT PROVISIONS |
| 6. |
Treatment
of Rollovers in Application of Involuntary Cash-out
Provisions: |
| (a) |
The
Employer: (choose one) (X) elects
( ) does not elect to exclude Rollover Contributions in
determining the value of the Participant’s nonforfeitable account balance
for purposes of the Plan’s involuntary cash-out rules. |
| (b) |
If the
Employer has elected to exclude Rollover Contributions, the election shall
apply with respect to distributions made after: 01-25-2006 (Enter
a date no earlier than December 31, 2001.) with respect to Participants who
separated from service after:
01-25-2006 (Enter
date. The date may be earlier than December 31, 2001.)
|
|
SEVERANCE
FROM EMPLOYMENT AS A DISTRIBUTABLE EVENT |
| 7. |
Section
8 of the EGTRRA Plan Amendment Addendum, “Distribution Upon Severance from
Employment”, shall apply for distributions after: 01-25-2006 (Enter
a date no earlier than December 31, 2001.), |
| ( ) |
(a) regardless
of when the severance from employment occurred; or |
| (X) |
(b) for
severances from employment occurring after 01-25-2006. (Enter
date.) |
|
CATCH-UP
CONTRIBUTIONS |
| 8. |
Section
9 of the EGTRRA Plan Amendment Addendum, Catch-up Contributions:
|
| (X) |
(a) shall
apply to contributions after 01-25-2006 (Enter
a date no earlier then December 31, 2001.) |
| ( ) |
(b) shall
not apply. |
| 9. |
Matching
Contributions and Catch-up Contributions |
Matching
Contributions (X) will
( ) will not be made in accordance with the Matching
Contribution formula specified in the Adoption Agreement with regard to
Catch-up Contributions.
|
SUSPENSION
AFTER HARDSHIP DISTRIBUTIONS |
| 10. |
Suspension
Period for Hardship Distributions: |
| (X) | (a) |
A
Participant who receives a distribution of Elective Deferrals in calendar year
2001 on account of hardship shall be prohibited from making Elective Deferrals
and Employee Contributions under this and all other plans of the Employer for 6
months after receipt of the distribution or until January 1, 2002, if
later. |
| ( ) | (b) |
A
Participant who receives a distribution of Elective Deferrals in calendar year
2001 on account of hardship shall be prohibited from making Elective Deferrals
and Employee Contributions under this and all other plans of the Employer for
the period specified in the provisions of the plan relating to suspension of
Elective Deferrals that were in effect prior to this Amendment.
|
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|
VESTING
OF EMPLOYER MATCHING CONTRIBUTIONS |
| 11. |
“Vesting
of Employer Matching Contributions” under Section 11 of the EGTRRA Plan
Amendment Addendum: |
( )
(a)
shall
apply to all Participants with accrued benefits derived from Employer Matching
Contributions.
(X)
(b) shall
apply only to Participants with accounts derived from Matching Contributions
who complete an Hour of Service
under the Plan in a Plan Year beginning after December
31, 2001.
| 12. |
Vesting
Schedule for Employer Matching Contributions |
( )
(a)
Option
1. A Participant’s accrued benefit derived from Employer Matching
Contributions shall be fully and immediately vested.
( )
(b)
Option
2. A Participant’s accrued benefit derived from Employer Matching
Contributions shall be nonforfeitable upon
the
Participant’s completion of three years of vesting
service.
(X)
(c)
Option
3. A Participant’s accrued benefit derived from Employer Matching
Contributions shall vest according to the
following
schedule:
|
Years
of vesting service |
Nonforfeitable
percentage |
|
|
Less
than 1 |
0 |
|
|
1 Year
of Service |
34
|
|
|
2 Years
of Service |
67
|
(not
less than 20%) |
|
3 Years
of Service |
100
|
(not
less than 40%) |
|
4 Years
of Service |
100
|
(not
less than 60%) |
|
5 Years
of Service |
100
|
(not
less than 80%) |
|
6 Years
of Service |
|
100%
|
|
EMPLOYER
ADOPTION |
The
undersigned Employer acknowledges receipt of a copy of the Plan Addendum for
the EGTRRA Amendments. The undersigned Employer also acknowledges that it has
relied upon the advice of their tax advisor regarding the completion of this
amendment and the legal and tax implications of amending the Plan. This
Amendment is not effective until the Employer signs below.
Name of
Employer: BioFuel
Energy, L.L.C.
Authorized
Signature: /s/ ▇▇▇▇▇ ▇.
▇▇▇▇▇▇ Date:
December 1,
2006
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