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Exhibit (10)(A)
ELECTRO RENT CORPORATION SAVINGS PLAN
GE RENTALS SUPPLEMENT TO THE
VANGUARD PROTOTYPE 401(k) SAVINGS PLAN ADOPTION AGREEMENT
This Supplement to the Vanguard Prototype 401(k) Savings Plan Adoption
Agreement (the "Adoption Agreement") for the Electro Rent Savings Plan (the
"Plan") amends the Adoption Agreement to allow eligible employees of General
Electric Capital Technology Management Service Corporation ("GE Rentals"),
certain assets of which will be acquired by Electro Rent Corporation, (1) to
become participants in the Plan on other than the Plan's normal entry dates,
(2) to receive credit under the Plan for eligibility and vesting purposes for
service with GE Rentals as if it were service with Electro Rent Corporation,
and (3) to roll over directly to the Plan their distributable interests in the
GE Savings and Security Program. Accordingly, the Plan will remain an
individually-designed plan consisting of the following documents:
(a) the Vanguard Prototype 401(k) Savings Plan (the "Prototype") as
modified by all Supplements,
(b) the Adoption Agreement as modified by this and all other
Supplements, and
(c) any Trust Agreement for the Plan.
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AMENDMENT OF ADOPTION AGREEMENT
Section 1(c) COMMENCEMENT OF PARTICIPATION
Notwithstanding anything in the Adoption Agreement or the Prototype to
the contrary, the Entry Date of a person who, as determined under the
acquisition agreement between General Electric Capital Technology
Management Services Corporation ("GE Rentals"), GE Capital Corporation,
and Electro Rent Corporation, is considered an employee actively at work
for GE Rentals immediately prior to the closing of the GE Rentals
acquisition and who immediately thereafter becomes an Employee of Electro
Rent Corporation, shall be the date the individual becomes an Employee of
Electro Rent Corporation if he or she meets the participation
requirements of Sections 1(a) and (b) of the Adoption Agreement on that
date, taking into account Section 1(d) below. If such a person does not
then meet those participation requirements, his or her Entry Date shall
be determined in accordance with the normal provisions of the Adoption
Agreement and the Prototype, as modified below.
Section 1(d) SERVICE WITH PREDECESSOR EMPLOYERS
GE Rentals shall be treated as a predecessor employer to Electro Rent
Corporation. Accordingly, service with GE Rentals by an Employee
described in Section 1(c) above shall be treated as service with Electro
Rent Corporation for both eligibility and vesting purposes. The Years of
Service credited to an Employee for his or her service with GE Rentals
shall be calculated under the elapsed time service crediting rules of
Article 16 of the Prototype (see the Supplement to the Prototype).
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Section 4A Direct Rollovers
Pursuant to Plan Section 4.8, The Plan Administrator shall permit Employees
described in Section 1(c) above to roll over directly to the Plan their
distributable interests in the GE Savings and Security Program.
Date Adopted:____________ ELECTRO RENT CORPORATION
By_______________________
Title____________________
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