EXHIBIT 10.1
AMENDMENT NO. 1
TO THE
COMPSAVINGS PLAN FOR EMPLOYEES OF COMPUSA INC. AND TRUST
WHEREAS, CompUSA Inc. (the "Company"), approved and adopted the CompSavings
Plan for Employees of CompUSA Inc. (the "Plan") and Trust Agreement (the
"Trust") which were originally effective January 1, 1995 and most recently
restated effective January 1, 1996;
WHEREAS, Section 19.1 of the Plan and Trust provides that the Company
reserves the right to amend the Plan and Trust;
NOW THEREFORE RESOLVED, that Sections 1 and 2 are amended effective January
1, 1996, Sections 1 and 18 are amended effective October 13, 1996 and Section 3
is amended effective February 3, 1997 as follows:
Effective January 1, 1996:
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1. Section 1 is amended to restate Subsection 1.55 in its entirety as follows:
1.55 "Trustee". BZW Barclays Global Investors, National Association, known
as Barclays Global Investors, National Association effective October
15, 1996.
2. Section 2 is amended to restate Subsection 2.1 in its entirety as follows:
2.1 Eligibility
All Participants as of January 1, 1996 shall continue their
eligibility to participate in the Plan. Each other Eligible Employee
shall become a Participant on the later of January 1, 1996 or, on the
first day of the next month following the date he or she attains age
21 and completes a six-month eligibility period in which he or she is
credited with at least 500 Hours of Service. The initial eligibility
period begins on the date an Employee first performs an Hour of
Service. Subsequent eligibility periods begin with the start of each
half of the Plan Year beginning after the first Hour of Service is
performed.
Effective October 13, 1996:
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1. Section 1 is amended to add a new Subsection 1.56 and to redesignate each
subsequent Subsection as follows:
1.56 "USERRA". The Uniformed Services Employment and Reemployment Rights
Act of 1994.
2. Section 18 is amended to add a new Subsection 18.2 and to redesignate each
subsequent Subsection as follows:
18.2 Compliance With USERRA
Notwithstanding any provision of the Plan to the contrary, with
regard to an Employee who serves in qualified military service (as
defined by Code section 414(u)(5)) and is reemployed on or after
December 12, 1994, within the time required by USERRA, contributions
shall be made and benefits and service credit shall be provided with
respect
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to his or her qualified military service in accordance with Code
section 414(u). Furthermore, notwithstanding any provision of the
Plan to the contrary, Participant loan payments may be suspended
during a period of qualified military service.
Effective February 3, 1997:
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1. Section 3 is amended to restate Subsection 3.6 in its entirety as follows:
3.6 Timing, Posting and Tax Considerations
Pre-Tax Contributions may only be made through payroll deduction.
Pre-Tax Contributions, other than Pre-Tax Contributions attributable
to a Participant's Deferred Compensation Plan 401(k) Plan Election,
shall be paid to the Trustee in cash and posted to each Participant's
Account(s) as soon as such amounts can reasonably be separated from
the Employer's general assets and balanced against the specific
amount made on behalf of each Participant and in no event later than
15 business days following the end of the month that includes the
date amounts are deducted from a Participant's Pay (or as that
maximum period may be otherwise extended by ERISA). Pre-Tax
Contributions attributable to a Participant's Deferred Compensation
Plan 401(k) Plan Election shall be paid to the Trustee in cash and
posted to each Participant's Account(s) as soon as such amounts can
be determined following the end of the Plan Year and balanced against
the specific amount to be transferred on behalf of each Participant
and in no event later than the March 15 following immediately
thereafter.
Pre-Tax Contributions shall be treated as Contributions made by an
Employer in determining tax deductions under Code section 404(a).
Date: October 1, 1997 COMPUSA INC.
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By: /s/ XXX XxXXXX
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Title: Senior Vice President - Human Resources
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The provisions of the above amendment which relate to the Trustee are hereby
approved and executed.
Date: November 12, 1997 BARCLAYS GLOBAL INVESTORS, NATIONAL ASSOCIATION
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By: Xxxxxxx Lynch, Pierce, Xxxxxx & Xxxxx, Inc.
By: /s/ XXXXXXX XXXXX
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Title: Assistant Vice President
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Date: November 12, 1997 BARCLAYS GLOBAL INVESTORS, NATIONAL ASSOCIATION
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By: Xxxxxxx Lynch, Pierce, Xxxxxx & Xxxxx, Inc.
By: /s/ XXXXX X. XXXXXXXX
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Title: Vice President
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