Common use of Defined Contribution Plans Clause in Contracts

Defined Contribution Plans. 4.1 401(k) PLAN. (a) ADOPTION BY WATER PIK OF TELEDYNE 401(k) PLAN AMENDED TO BE A MULTIPLE EMPLOYER PLAN. On or before the Distribution Date, the Teledyne 401(k) Plan will be amended by Teledyne to be and become a multiple employer plan under which Water Pik may elect to be a contributing sponsor and to provide participation to Water Pik Individuals under the terms and conditions set forth in the Teledyne 401(k) Plan for a period ending on the earlier of (i) adoption by Water Pik of the Water Pik 401(k) Plan or (ii) April 1, 2000. The right to amend the Teledyne 401(k) Plan in any respect shall be exclusively within the power of Teledyne at all relevant times. As amended, the Teledyne 401(k) Plan shall provide that (A) Water Pik Individuals shall not be permitted to direct investments after the Distribution Date in shares of common stock of ATI ("ATI Common Stock") or in the common stock of any corporation spun off by ATI on the Distribution Date other than Water Pik and (B) that each Water Pik Individual shall have the right to direct the administrator of the Teledyne 401(k) Plan to liquidate the interests of Water Pik Individuals in the ATI Common Stock, Water Pik Common Stock or the common stock of any other previously related corporation and direct the method of reinvestment of the proceeds of such sale from among the options then available under the Teledyne 401(k) Plan. (b) ESTABLISHMENT OF WATER PIK 401(k) PLAN AND TRUST. The Water Pik 401(k) Plan, established by Water Pik pursuant to Section 2.2 no later than April 1, 2000, (i) shall be a qualified defined contribution plan within the meaning of Code Section 401(a), (ii) except as provided under Section 4.1(c), shall contain provisions, terms and conditions substantially similar to the provisions, terms and conditions of the Teledyne 401(k) Plan, including provisions with respect to ATI Common Stock and the common stock of Water Pik and any other corporation spun off by ATI on the Distribution Date, and shall further provide that Water Pik Individuals may maintain investments in ATI Common Stock, Water Pik Common Stock and/or stock of any previously related corporation until December 31, 2002 and, if ATI Common Stock and/or common stock of any previously related corporation other than Water Pik is held in accounts of Water Pik Individuals in the Teledyne 401(k) Plan as of December 31, 2002, the interests of Water Pik Individuals shall be liquidated by the Plan administrator and the proceeds reinvested in Water Pik Common Stock, and (iii) shall provide coverage from and after the earlier of (i) its adoption by Water Pik or (ii) April 1, 2000 with respect to Water Pik Individuals who, as of the later of the dates above, were participants in the Teledyne 401(k) Plan as amended as described in Section 4.1(a). The trust related to the Water Pik 401(k) Plan, established by Water Pik pursuant to Section 2.2, shall be exempt from taxation under Code Section 501(a).

Defined Contribution Plans. 4.1 401(k) PLAN. (a) ADOPTION BY WATER PIK TELEDYNE TECHNOLOGIES OF TELEDYNE 401(k) PLAN AMENDED TO BE A MULTIPLE EMPLOYER PLAN. On or before the Distribution Date, the Teledyne 401(k) Plan will be amended by Teledyne to be and become a multiple employer plan under which Water Pik Teledyne Technologies may elect to be a contributing sponsor and to provide participation to Water Pik Teledyne Technologies Individuals under the terms and conditions set forth in the Teledyne 401(k) Plan for a period ending on the earlier of (i) adoption by Water Pik Teledyne Technologies of the Water Pik Teledyne Technologies 401(k) Plan or (ii) April 1, 2000. The right to amend the Teledyne 401(k) Plan in any respect shall be exclusively within the power of Teledyne at all relevant times. As amended, the Teledyne 401(k) Plan shall provide that (A) Water Pik Teledyne Technologies Individuals shall not be permitted to direct investments after the Distribution Date in shares of common stock of ATI ("ATI Common Stock") or in the common stock of any corporation spun off by ATI on the Distribution Date other than Water Pik Teledyne Technologies and (B) that each Water Pik Teledyne Technologies Individual shall have the right to direct the administrator of the Teledyne 401(k) Plan to liquidate the interests such Teledyne Technologies Individual's interest in shares of Water Pik Individuals in the ATI Common Stock, Water Pik Teledyne Technologies Common Stock or the common 9 13 stock of any other previously related corporation and direct the method of reinvestment of the proceeds of such sale from among the options then available under the Teledyne 401(k) Plan. (b) ESTABLISHMENT OF WATER PIK TELEDYNE TECHNOLOGIES 401(k) PLAN AND TRUST. The Water Pik Teledyne Technologies 401(k) Plan, established by Water Pik pursuant to Section 2.2 Teledyne Technologies no later than April 1, 20002000 pursuant to Section 2.2, (i) shall be a qualified defined contribution plan within the meaning of Code Section 401(a), (ii) except as provided under Section 4.1(c), shall contain provisions, terms and conditions substantially similar to the provisions, terms and conditions of the Teledyne 401(k) Plan, including provisions with respect to the ATI Common Stock and the common stock of Water Pik Teledyne Technologies and any other corporation spun off by ATI on the Distribution Date, and shall further provide that Water Pik Teledyne Technologies Individuals may maintain investments in ATI Common Stock, Water Pik Teledyne Technologies Common Stock and/or stock of any previously related corporation until December 31, 2002 and, if ATI Common Stock and/or common stock of any previously related corporation other than Water Pik Teledyne Technologies is held in accounts of Water Pik Teledyne Technologies Individuals in the Teledyne 401(k) Plan as of December 31, 2002, the interests of Water Pik Teledyne Technologies Individuals in such stock shall be liquidated by the Plan administrator and the proceeds reinvested in Water Pik Teledyne Technologies Common Stock, and (iii) shall provide coverage from and after the earlier of (i) its adoption by Water Pik Teledyne Technologies or (ii) April 1, 2000 with respect to Water Pik Teledyne Technologies Individuals who, as of the later of the dates above, were participants in the Teledyne 401(k) Plan Plan, as amended as described in Section 4.1(a). The trust related to the Water Pik Teledyne Technologies 401(k) Plan, established by Water Pik Teledyne Technologies pursuant to Section 2.2, shall be exempt from taxation under Code Section 501(a).

Defined Contribution Plans. 4.1 401(k) PLAN. (a) ADOPTION BY WATER PIK TELEDYNE TECHNOLOGIES OF TELEDYNE 401(k) PLAN AMENDED TO BE A MULTIPLE EMPLOYER PLAN. On or before the Distribution Date, the Teledyne 401(k) Plan will be amended by Teledyne to be and become a multiple employer plan under which Water Pik Teledyne Technologies may elect to be a contributing sponsor and to provide participation to Water Pik Teledyne Technologies Individuals under the terms and conditions set forth in the Teledyne 401(k) Plan for a period ending on the earlier of (i) adoption by Water Pik Teledyne Technologies of the Water Pik Teledyne Technologies 401(k) Plan or (ii) April 1, 2000. The right to amend the Teledyne 401(k) Plan in any respect shall be exclusively within the power of Teledyne at all relevant times. As amended, the Teledyne 401(k) Plan shall provide that (A) Water Pik Teledyne Technologies Individuals shall not be permitted to direct investments after the Distribution Date in shares of common stock of ATI ("ATI Common Stock") or in the common stock of any other corporation spun off by ATI on the Distribution Date other than Water Pik Teledyne Technologies and (B) that each Water Pik Teledyne Technologies Individual shall have the right to direct the administrator of the Teledyne 401(k) Plan to liquidate the interests such Teledyne Technologies Individual's interest in shares of Water Pik Individuals in the ATI Common Stock, Water Pik Teledyne Technologies Common Stock or the common stock of any other previously related corporation and direct the method of reinvestment of the proceeds of such sale from among the options then available under the Teledyne 401(k) Plan. (b) ESTABLISHMENT OF WATER PIK 401(k) PLAN AND TRUST. The Water Pik 401(k) Plan, established by Water Pik pursuant to Section 2.2 no later than April 1, 2000, (i) shall be a qualified defined contribution plan within the meaning of Code Section 401(a), (ii) except as provided under Section 4.1(c), shall contain provisions, terms and conditions substantially similar to the provisions, terms and conditions of the Teledyne 401(k) Plan, including provisions with respect to ATI Common Stock and the common stock of Water Pik and any other corporation spun off by ATI on the Distribution Date, and shall further provide that Water Pik Individuals may maintain investments in ATI Common Stock, Water Pik Common Stock and/or stock of any previously related corporation until December 31, 2002 and, if ATI Common Stock and/or common stock of any previously related corporation other than Water Pik is held in accounts of Water Pik Individuals in the Teledyne 401(k) Plan as of December 31, 2002, the interests of Water Pik Individuals shall be liquidated by the Plan administrator and the proceeds reinvested in Water Pik Common Stock, and (iii) shall provide coverage from and after the earlier of (i) its adoption by Water Pik or (ii) April 1, 2000 with respect to Water Pik Individuals who, as of the later of the dates above, were participants in the Teledyne 401(k) Plan as amended as described in Section 4.1(a). The trust related to the Water Pik 401(k) Plan, established by Water Pik pursuant to Section 2.2, shall be exempt from taxation under Code Section 501(a).corporation

Defined Contribution Plans. 4.1 401(k) PLAN. (a) ADOPTION BY WATER PIK TELEDYNE TECHNOLOGIES OF TELEDYNE 401(k) PLAN AMENDED TO BE A MULTIPLE EMPLOYER PLAN. On or before the Distribution Date, the Teledyne 401(k) Plan will be amended by Teledyne to be and become a multiple employer plan under which Water Pik Teledyne Technologies may elect to be a contributing sponsor and to provide participation to Water Pik Teledyne Technologies Individuals under the terms and conditions set forth in the Teledyne 401(k) Plan for a period ending on the earlier of (i) adoption by Water Pik Teledyne Technologies of the Water Pik Teledyne Technologies 401(k) Plan or (ii) April 1, 2000. The right to amend the Teledyne 401(k) Plan in any respect shall be exclusively within the power of Teledyne at all relevant times. As amended, the Teledyne 401(k) Plan shall provide that (A) Water Pik Teledyne Technologies Individuals shall not be permitted to direct investments after the Distribution Date in shares of common stock of ATI ("ATI Common Stock") Stock or in the common stock of Teledyne Technologies or any other corporation spun off by ATI on the Distribution Date other than Water Pik and ATI, (B) that each Water Pik Teledyne Technologies Individual shall have the right to direct the administrator of the Teledyne 401(k) Plan to liquidate the interests such Teledyne Technologies Individual's interest in shares of Water Pik Individuals in the common stock of ATI ("ATI Common Stock"), Water Pik Teledyne Technologies Common Stock or the common stock of any other previously related corporation and direct the method of reinvestment of the proceeds of such sale from among the options then available under the Teledyne 401(k) Plan. Plan and (C) if ATI Common Stock and/or common stock of any previously related corporation other than Teledyne Technologies is held in accounts of Teledyne Technologies Individuals in the Teledyne 401(k) Plan as of April 1, 2000, interests of Teledyne Technologies Individuals in such stock shall be liquidated by the Plan administrator and the proceeds reinvested in Teledyne Technologies Common Stock. (b) ESTABLISHMENT OF WATER PIK TELEDYNE TECHNOLOGIES 401(k) PLAN AND TRUST. The Water Pik Teledyne Technologies 401(k) Plan, established by Water Pik pursuant to Section 2.2 Teledyne Technologies no later than April 1, 20002000 pursuant to Section 2.2, (i) shall be a qualified defined contribution plan within the meaning of Code Section 401(a), (ii) except as provided under Section 4.1(c), shall contain provisions, terms and conditions substantially similar to the provisions, terms and conditions of the Teledyne 401(k) Plan, including provisions with respect to ATI Common Stock and the common stock of Water Pik and any other corporation spun off by ATI on the Distribution Date, and shall further provide that Water Pik Individuals may maintain investments in ATI Common Stock, Water Pik Common Stock and/or stock of any previously related corporation until December 31, 2002 and, if ATI Common Stock and/or common stock of any previously related corporation other than Water Pik is held in accounts of Water Pik Individuals in the Teledyne 401(k) Plan as of December 31, 2002, the interests of Water Pik Individuals shall be liquidated by the Plan administrator and the proceeds reinvested in Water Pik Common Stock, and (iii) shall provide coverage from and after the earlier of (i) its adoption by Water Pik Teledyne Technologies or (ii) April 1, 2000 with respect to Water Pik Teledyne Technologies Individuals who, as of the later of the dates above, were participants in the Teledyne 401(k) Plan Plan, as amended as described in Section 4.1(a). The trust related to the Water Pik Teledyne Technologies 401(k) Plan, established by Water Pik Teledyne Technologies pursuant to Section 2.2, shall be exempt from taxation under Code Section 501(a).

Defined Contribution Plans. 4.1 401(k) PLAN. (a) ADOPTION BY WATER PIK TELEDYNE TECHNOLOGIES OF TELEDYNE 401(k) PLAN AMENDED TO BE A MULTIPLE EMPLOYER PLAN. On or before the Distribution Date, the Teledyne 401(k) Plan will be amended by Teledyne to be and become a multiple employer plan under which Water Pik Teledyne Technologies may elect to be a contributing sponsor and to provide participation to Water Pik Teledyne Technologies Individuals under the terms and conditions set forth in the Teledyne 401(k) Plan for a period ending on the earlier of (i) adoption by Water Pik Teledyne Technologies of the Water Pik Teledyne Technologies 401(k) Plan or (ii) April 1, 2000. The right to amend the Teledyne 401(k) Plan in any respect shall be exclusively within the power of Teledyne at all relevant times. As amended, the Teledyne 401(k) Plan shall provide that (A) Water Pik Teledyne Technologies Individuals shall not be permitted to direct investments after the Distribution Date in shares of common stock of ATI ("ATI Common Stock") or in the common stock of Teledyne Technologies or any other corporation spun off by ATI on the Distribution Date other than Water Pik and (B) that each Water Pik Teledyne Technologies Individual shall have the right to direct the administrator of the Teledyne 401(k) Plan to liquidate the interests such Teledyne Technologies Individual's interest in shares of Water Pik Individuals in the ATI Common Stock, Water Pik Teledyne Technologies Common Stock or the common stock of any other previously related corporation and direct the method of reinvestment of the proceeds of such sale from among the options then available under the Teledyne 401(k) Plan. (b) ESTABLISHMENT OF WATER PIK 401(k) PLAN AND TRUST. The Water Pik 401(k) Plan, established by Water Pik pursuant to Section 2.2 no later than April 1, 2000, (i) shall be a qualified defined contribution plan within the meaning of Code Section 401(a), (ii) except as provided under Section 4.1(c), shall contain provisions, terms and conditions substantially similar to the provisions, terms and conditions of the Teledyne 401(k) Plan, including provisions with respect to ATI Common Stock and the common stock of Water Pik and any other corporation spun off by ATI on the Distribution Date, and shall further provide that Water Pik Individuals may maintain investments in ATI Common Stock, Water Pik Common Stock and/or stock of any previously related corporation until December 31, 2002 and, if ATI Common Stock and/or common stock of any previously related corporation other than Water Pik is held in accounts of Water Pik Individuals in the Teledyne 401(k) Plan as of December 31, 2002, the interests of Water Pik Individuals shall be liquidated by the Plan administrator and the proceeds reinvested in Water Pik Common Stock, and (iii) shall provide coverage from and after the earlier of (i) its adoption by Water Pik or (ii) April 1, 2000 with respect to Water Pik Individuals who, as of the later of the dates above, were participants in the Teledyne 401(k) Plan as amended as described in Section 4.1(a). The trust related to the Water Pik 401(k) Plan, established by Water Pik pursuant to Section 2.2, shall be exempt from taxation under Code Section 501(a).corporation

Defined Contribution Plans. 4.1 401(k) PLAN. (a) ADOPTION BY WATER PIK SPINCO OF TELEDYNE 401(k) PLAN AMENDED TO BE A MULTIPLE EMPLOYER PLAN. On or before the Distribution Date, the Teledyne 401(k) Plan will be amended by Teledyne to be and become a multiple employer plan under which Water Pik Spinco may elect to be a contributing sponsor and to provide participation to Water Pik Spinco Individuals under the terms and conditions set forth in the Teledyne 401(k) Plan for a period ending on the earlier of (i) adoption by Water Pik Spinco of the Water Pik Spinco 401(k) Plan or (ii) April 1, 2000. The right to amend the Teledyne 401(k) Plan in any respect shall be exclusively within the power of Teledyne at all relevant times. As amended, the Teledyne 401(k) Plan shall provide that (A) Water Pik Spinco Individuals shall not be permitted to direct investments after the Distribution Date in shares of common stock of ATI ("ATI Common Stock") Stock or in the common stock of Spinco or any other corporation spun off by ATI on the Distribution Date other than Water Pik and ATI, (B) that each Water Pik Spinco Individual shall have the right to direct the administrator of the Teledyne 401(k) Plan to liquidate the interests such Spinco Individual's interest in shares of Water Pik Individuals in the common stock of ATI ("ATI Common Stock"), Water Pik Spinco Common Stock or the common stock of any other previously related corporation and direct the method of reinvestment of the proceeds of such sale from among the options then available under the Teledyne 401(k) PlanPlan and (C) if ATI Common Stock and/or common stock of any previously related corporation other than Spinco is held in accounts of Spinco Individuals in the Teledyne 401(k) Plan as of April 1, 2000, interests of Spinco Individuals in such stock shall be liquidated by the Plan administrator and the proceeds reinvested in Spinco Common Stock. (b) ESTABLISHMENT OF WATER PIK SPINCO 401(k) PLAN AND TRUST. The Water Pik Spinco 401(k) Plan, established by Water Pik pursuant to Section 2.2 Spinco no later than April 1, 20002000 pursuant to Section 2.2, (i) shall be a qualified defined contribution plan within the meaning of Code Section 401(a), (ii) except as provided under Section 4.1(c), shall contain provisions, terms and conditions substantially similar to the provisions, terms and conditions of the Teledyne 401(k) Plan, including provisions with respect to ATI Common Stock and the common stock of Water Pik and any other corporation spun off by ATI on the Distribution Date, and shall further provide that Water Pik Individuals may maintain investments in ATI Common Stock, Water Pik Common Stock and/or stock of any previously related corporation until December 31, 2002 and, if ATI Common Stock and/or common stock of any previously related corporation other than Water Pik is held in accounts of Water Pik Individuals in the Teledyne 401(k) Plan as of December 31, 2002, the interests of Water Pik Individuals shall be liquidated by the Plan administrator and the proceeds reinvested in Water Pik Common Stock, and (iii) shall provide coverage from and after the earlier of (i) its adoption by Water Pik Spinco or (ii) April 1, 2000 with respect to Water Pik Spinco Individuals who, as of the later of the dates above, were participants in the Teledyne 401(k) Plan Plan, as amended as described in Section 4.1(a). The trust related to the Water Pik Spinco 401(k) Plan, established by Water Pik Spinco pursuant to Section 2.2, shall be exempt from taxation under Code Section 501(a).

Defined Contribution Plans. 4.1 401(k) PLAN. (a) ADOPTION BY WATER PIK OF TELEDYNE 401(k) PLAN AMENDED TO BE A MULTIPLE EMPLOYER PLAN. On or before the Distribution Date, the Teledyne 401(k) Plan will be amended by Teledyne to be and become a multiple employer plan under which Water Pik may elect to be a contributing sponsor and to provide participation to Water Pik Individuals under the terms and conditions set forth in the Teledyne 401(k) Plan for a period ending on the earlier of (i) adoption by Water Pik of the Water Pik 401(k) Plan or (ii) April 1, 2000. The right to amend the Teledyne 401(k) Plan in any respect shall be exclusively within the power of Teledyne at all relevant times. As amended, the Teledyne 401(k) Plan shall provide that (A) Water Pik Individuals shall not be permitted to direct investments after the Distribution Date in shares of common stock of ATI ("ATI Common Stock") or in the common stock of Water Pik or any other corporation spun off by ATI on the Distribution Date other than Water Pik and (B) that each Water Pik Individual shall have the right to direct the administrator of the Teledyne 401(k) Plan to liquidate the interests of Water Pik Individuals in the shares of ATI Common Stock, Water Pik Common Stock or the common stock of any other previously related corporation and direct the method of reinvestment of the proceeds of such sale from among the options then available under the Teledyne 401(k) Plan. (b) ESTABLISHMENT OF WATER PIK 401(k) PLAN AND TRUST. The Water Pik 401(k) Plan, established by Water Pik pursuant to Section 2.2 no later than April 1, 2000, (i) shall be a qualified defined contribution plan within the meaning of Code Section 401(a), (ii) except as provided under Section 4.1(c), shall contain provisions, terms and conditions substantially similar to the provisions, terms and conditions of the Teledyne 401(k) Plan, including provisions with respect to the ATI Common Stock and the common stock of Water Pik and any other corporation spun off by ATI on the Distribution Date, and shall further provide that Water Pik Individuals may maintain investments in ATI Common Stock, Water Pik Common Stock and/or stock of any previously related corporation until December 31, 2002 and, if ATI Common Stock and/or common stock of any previously related corporation other than Water Pik is held in accounts of Water Pik Individuals in the Teledyne 401(k) Plan as of December 31, 2002, the interests of Water Pik Individuals shall be liquidated by the Plan administrator and the proceeds reinvested in Water Pik Common Stock, and (iii) shall provide coverage from and after the earlier of (i) its adoption by Water Pik or (ii) April 1, 2000 with respect to Water Pik Individuals who, as of the later of the dates above, were participants in the Teledyne 401(k) Plan as amended as described in Section 4.1(a). The trust related to the Water Pik 401(k) Plan, established by Water Pik pursuant to Section 2.2, shall be exempt from taxation under Code Section 501(a).