EXHIBIT (10)(iii)21
SUPPLEMENTAL PARTICIPATION AGREEMENT
A Participation Agreement made and entered into this 1st day of
October, 2001, between Central Xxxxxx Enterprises Corporation (hereinafter
referred to as the "Participating Employer"), Central Xxxxxx Gas & Electric
Corporation (hereinafter referred to as the "Employer"), and ING National Trust
(hereinafter referred to as the "Trustees").
WHEREAS, the Participating Employer desires to reward its employees for
faithful service, to establish a bond between employer and employee, to provide
an incentive for efficient and conscientious work, to provide a fund for
retirement, disability, or death, and to retain high-calibre fellow employees;
and
WHEREAS, there exists a Profit Sharing Plan entered into on the 1st day
of October, 2001 namely the Central Xxxxxx Gas & Electric Corporation Savings
Incentive Plan, called the "Plan," between Employer and the Trustees (a copy
being attached hereto as Exhibit "A" and made a part hereof by reference); and
WHEREAS, Plan Section 9.1 provides that any other Participating
Employer may, with the consent of the Employer, adopt the Plan and participate
therein by a properly executed document evidencing said intent of said
Participating Employer;
NOW, THEREFORE, the Participating Employer hereby becomes a party to
the Plan, effective the 1st day of October, 2001, and the Employer and the
Trustees hereby consent to such adoption and participation upon the following
terms:
(1) Wherever a right or obligation is imposed upon the
Employer by the terms of the Plan, the same shall extend to
the Participating Employer as the "Employer" under the Plan
and shall be separate and distinct from that imposed upon the
Employer. It is the intention of the parties that the
Participating Employer shall be a party to the Plan and
treated in all respects as the Employer thereunder, with its
employees to be considered as the Employees or Participants,
as the case may be, thereunder. However, the participation of
the Participating Employer in the Plan shall in no way
diminish, augment, modify, or in any way affect the rights and
duties of the Employer, its Employees, or Participants, under
the Plan.
(2) The Trustees hereby agree to receive and allocate
contributions made to the Plan by the Employer and by the
Participating Employer, as well as to do and perform all acts
that are necessary to keep records and accounts of all funds
held for Participants who are Employees of the respective
employers.
(3) The execution of this Agreement by this Participating
Employer shall be construed as the adoption of the Plan in
every respect as if said Plan had this date been executed
between the Participating Employer and the Trustees, except as
otherwise expressly provided herein or in any amendment that
may subsequently be adopted hereto.
(4) All actions required by the Plan to be taken by the
Employer shall be effective with respect to the Participating
Employer if taken by the Employer and pursuant to Plan Section
9.3, the Participating Employer hereby irrevocably designates
the Employer as its agent for such purposes.
IN WITNESS WHEREOF, the Participating Employer, the Employer and the
Trustees have caused this Supplemental Participation Agreement to be executed in
their respective names on the day and date first above written.
Signed, sealed and delivered
in the presence of:
Central Xxxxxx Enterprises Corporation
BY /s/ XXXXX PAGE
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As to Participating Employer
Signed, sealed, and delivered
in the presence of:
/s/ XXXXXX X. XXXXXX BY /s/ XXXXXX X. XXXXXX
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As to Employer
TRUSTEES
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As to Trustees
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