EXHIBIT 10.30
THE LINCOLN NATIONAL LIFE INSURANCE COMPANY
STANDARDIZED
401(k) SALARY REDUCTION PLAN AND TRUST PROTOTYPE PLAN
ADOPTION AGREEMENT
PLAN #008
IRS SERIAL #D259972a Date APRIL 30, 1992
The Careside Inc.
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(exact legal name of Employer)
(hereinafter referred to as the Employer), having its principal place of
business in Exton Pennsylvania
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(City) (State)
hereby adopts the The Lincoln National Life Insurance Company Standardized
401(k) Salary Reduction Plan and Trust Prototype Plan, and further appoints as:
Trustee(s), X. Xxxxxxx Stroughton, Xxxxxx X. Xxxxx
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;
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Named Fiduciary*, Same ;
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Plan Administrator*, Same ; and
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Agent for Legal Service of Process*, Same .
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*If same as Employer, write 'Same'.
The Employer's Tax Year begins January 1 and ends December 31.
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Employer Telephone Number (000) 000-0000.
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Business Code Number (same as shown on 1120) 3815.
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Date Business Commenced November 1, 1996.
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In connection herewith, the Employer makes the following statements and
selections:
This Plan shall be known as Careside Inc.
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(name of Employer)
401(k) Salary Reduction Plan and
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Trust which shall be identified by Employer I.D. # 00-0000000
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and Plan Serial # 001 (001, 002, etc.- assign sequentially).
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The employer maintains, or has maintained, the following qualified plans: (List
all plans, including this Plan, ever maintained by the Employer starting with
Plan Serial #001.)
Status
Plan ----------------------
Serial # Type of Plan In Force Terminated
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001 Salary Reduction [X] [_]
002 [_] [_]
003 [_] [_]
004 [_] [_]
005 [_] [_]
This Employer is: Sole Proprietor
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Partnership
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X Corporation
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S Corporation
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Professional Corporation
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Non Profit Corporation
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[_] Yes [X] No Is the Employer a member of a Controlled Group of
Corporations, a group of businesses under common control, or
an Affiliated Service Group as defined below. This question
must be answered "yes" or "no". If yes, complete the rest of
this section.
In the case of a group of employers which constitutes a Controlled Group of
Corporations, or an Affiliated Service Group [as defined in Sections 414(b) and
414(m), respectively, of the Internal Revenue Code], or which constitutes one or
more trades or businesses whether or not incorporated which are under common
control [as defined in Section 414(c)], all such employers shall be considered a
single employer for purposes of determining plan qualification, minimum
participation, benefit accrual, vesting standards, and limitations on benefits
and contributions. The employers listed below are required to be aggregated
with the adopting employer under Code Sections 414(b), (c), (m) or (o), and
shall participate in this Plan to the extent indicated as evidenced by written
resolution adopting this Plan. (If there are no affiliated employers, indicate
None.)
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Employer Employer Participating Participation
Name I.D. # Employer Effective Date
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[_] Yes [_] No
[_] Yes [_] No
[_] Yes [_] No
[_] Yes [_] No
[_] Yes [_] No
If this Plan and Trust is adopted by more than one member of the aggregation
group, this Plan
[_] (a) shall be administered as one plan (i.e., contributions, and
forfeitures shall not be separated for each participating Employer).
[_] (b) shall be administered as a single employer plan for each
participating Employer [i.e., contributions shall be made by each
Employer only for those Participants employed by such Employer and
forfeitures shall be used to reduce the contribution made by the
applicable Employer - each asset pool shall be considered a separate
plan which must independently satisfy Code Section 401(a)(26)].
[X] (c) N/A
Any Employee of a participating Employer must receive credit for service while
employed by any member of the aggregation group (including non-participating
employers) for purposes of vesting and eligibility under this Plan from the date
such Employer became a member of the aggregation group.
A-1.22 The adoption of this Plan constitutes: (check appropriate statement and
provide information)
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[X] (a) The initial adoption of this Plan and Trust by the
Employer. The Effective Date of this Plan is _______________
January 1, 1997 .
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(month/day/year)
[_] (b) An [_] amendment and restatement, or [_] merger of the
following Plan(s) known as _________________________________,
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(name of Plans and Trusts)
with the original effective date(s) of
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(month/day/year)
The effective date of this amendment and restatement is
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(month/day/year)
I. DEFINITIONS
A-1.38 Hours of Service: Hours of Service shall be determined on the basis
of the method selected below. The method selected shall be applied to
all Employees. If the Elapsed Time Method is selected in A-1.74,
Hours of Service as designated below shall be applicable for
eligibility purposes only. (Select one)
[X] (a) On the basis of actual hours for which an Employee is paid
or entitled to payment.
[_] (b) On the basis of days worked. An Employee shall be credited with
ten (10) Hours of Service if, under Section 1.38 of the Plan,
such Employee would be credited with at least one (1) Hour of
Service during such day.
[_] (c) On the basis of weeks worked. An Employee shall be credited
with 45 Hours of Service if, under Section 1.38 of the Plan,
such Employee would be credited with at least one (1) Hour of
Service during such week.
[_] (d) On the basis of semi-monthly payroll periods. An Employee shall
be credited with 95 Hours of Service if, under Section 1.38 of
the Plan, such Employee would be credited with at least one (1)
Hour of Service during such semi-monthly period.
[_] (e) On the basis of months worked. An Employee shall be credited
with 190 Hours of Service if under Section 1.38 of the Plan
such Employee would be credited with at least one (1) Hour of
Service during such month.
A-1.54 Plan Year: (select one and complete)
[X] (a) Shall be the consecutive 12 month period for which records
for this Plan shall be maintained beginning each
January 1 and ending each December 31.
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[_] (b) There shall be a short Plan Year beginning and
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ending . (The Plan must retain its qualified status
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during this period.)
All subsequent Plan Years shall begin each and end
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each .
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The previous Plan Year prior to this amendment began
and ended each .
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Adjustments for eligibility and vesting shall be made as
required by Section 11.04 if the Plan Year is changed.
A-1.55 For purposes of establishing Present Value to compute the Top-Heavy
Ratio, any benefit (under a Defined Benefit plan) shall be discounted
for mortality and interest based on the following: (If the Employer
maintains a Defined Benefit plan, this section must be completed.)
Interest Rate ____% Mortality Table _____
[X] N/A The Employer has no Defined Benefit plan.
A-1.64 Years of Service with a predecessor employer:
Years of Service with ____________________________________ , for whom
this Employer does not maintain a predecessor plan shall be considered
under the Plan for purposes of: (select as desired)
[_] (a) Vesting
[_] (b) Eligibility
[X] (c) None of the above
A-1.71 For purposes of computing the Top-Heavy Ratio, the Valuation Date
shall be December 31 of each year.
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A-1.73 Vesting Years of Service: Years of Service credited for vesting shall
exclude the years checked below subject to Section 11.03: (select as
desired)
[X] (a) Years of Service before the Employee's 18th (cannot exceed 18)
birthday. (If Regular Method is used, the Plan Year in which
the Employee attains age 18 shall not be excluded.)
[X] (b) Years of Service prior to the original Effective Date of this
Plan or a predecessor plan.
[_] (c) Years of Service prior to __________________. (Date selected
may not be later than the original effective date of this Plan
or a predecessor plan.)
[_] (d) Years of Service during a period for which the Employee
declined to contribute to a plan requiring Employee
Contributions. In the case of a plan using the elapsed time
method, the Service which shall be disregarded is the period
with respect to which the mandatory contribution is not made.
[_] (e) No exclusions.
Note: In general, a predecessor plan is a plan which terminates
within the five (5) year period immediately preceding or
following the establishment of this Plan.
A-1.74 Years of Service shall be computed under the following method: (select
one)
[X] (a) Regular Method--based on Hours of Service credited under the
method selected in A-1.38.
[_] (b) Elapsed Time Method--based on total time an Employee is
employed without regard to actual hours credited as explained
in Section 1.74 of this Plan.
II. ELIGIBILITY
A-2.01 (a) All Employees of the Employer shall be eligible to participate in
the Plan except the following:
[X] (1) Non-resident aliens [within the meaning of Section
7701(b)(1)(B)] who receive no earned income [within the
meaning of Section 911(d)(2)] from the Employer which
constitutes income from sources within the United States
[within the meaning of Section 861(a)(3)].
[X] (2) Employees included in a unit of Employees covered by a
collective bargaining agreement between the Employer and
Employee representatives, if retirement benefits were the
subject of good faith bargaining and if two percent or
less of the Employees of the Employer who are covered
pursuant to that agreement are professionals as defined
in Section 1.410(b)-9 of the Regulations. For this
purpose, the term "employee than half of whose members
are Employees who are representatives" does not include
any organization more owners, officers, or executives of
the Employer.
For purposes of this Section, the term "Employee" shall include all
employees of this Employer or any employer aggregated with this Employer
under Code Section 414(b), (c), (m) or (o) and individuals required to be
considered employees of any such employer under Code Section 414(n) or
(o). If the Employer is part of an aggregation group, all affiliated
employers must be listed as participating Employers on page 2 of this
Adoption Agreement.
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(b) Minimum age and service requirements: (select one)
[X] (1) An Employee shall become a Participant on the Entry Date
coincident with or next following Age 21 (cannot exceed
21) and the completion of 1 (cannot exceed 1 year)
Eligibility Year of Service. MUST HAVE AT LEAST 2 ENTRY
DATES, I.E., CANNOT ELECT (d)(1) BELOW.
If the Eligibility Year of Service includes a fractional
year, an Employee shall not be required to complete any
specified number of Hours of Service to receive credit
for such fractional year.
[_] (2) An Employee shall become a Participant on the Entry Date
coincident with or next following Age ___ (cannot exceed
20 1/2) and the completion of ___ [cannot exceed 1/2 year
(6 months)] Eligibility Year of Service. USE THIS
PROVISION ONLY WHEN (d)(1) (ONE ENTRY DATE) IS ELECTED
BELOW.
If the Eligibility Year of Service includes a fractional
year, an Employee shall not be required to complete any
specified number of Hours of Service to receive credit
for such fractional year.
(c) The preceding election in A-2.01(b) notwithstanding, Employees who
are actively employed on November 1, 1996 shall be deemed to have
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satisfied the
[_] (1) Age requirement as of the Effective Date.
[X] (2) Service requirement as of the Effective Date.
[_] (3) Age and service requirements as of the Effective Date.
[_] (4) N/A (Age and Service requirements in A-2.01(b) apply
to all Employees.)
(d) Entry Date: Shall mean: (select one)
[_] (1) First day of Plan Year.
[X] (2) First day of Plan Year and the date 6 months after the
first day of the Plan Year.
[_] (3) The first day of the Plan Year and the dates which are 3,
6 and 9 months after the first day of the Plan Year. (Not
recommended.)
[_] (4) First day of each month. (Not recommended.)
III. PROFIT SHARING CONTRIBUTIONS AND ALLOCATIONS
A-3.01 Contributions
(a) The Employer shall contribute [select (1), (2) or (3)]
[_] (1) out of current or accumulated profits.
[_] (2) without regard to current or accumulated profits.
[X] (3) N/A [A-3.01(a)(6) is elected]
The amount of such contribution shall be: [select (4) (5) or (6)]
[_] (4) As determined by the Board of Directors each year.
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[_] (5) Other
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[X] (6) The Employer will make no contribution under this Section
A-3.01(a). [Do not complete Sections A-3.01(b), (d) and
(e). A-3.01(c) must still be completed.]
(b) Allocation of contributions under A-3.01(a), above, shall be made
for all Participants who are credited with at least [select (1),
(2), or (3)]
[_] (1) 1,000 Hours of Service
[_] (2) 500 Hours of Service
[_] (3) one Hour of Service
during the Plan Year and [select (4) or (5)]
[_] (4) regardless of employment on the last day of the Plan
Year.
[_] (5) who is employed with the Employer on the last day of
the Plan Year.
The preceding notwithstanding, effective for Plan Years commencing
on and after January 1, 1990, contributions shall be allocated to
all Participants who are credited with more than 500 Hours of
Service during the Plan Year, or who are employed on the last day of
the Plan Year.
Note: Employer includes all employers which are required to be
aggregated with the Employer under Code Sections 414(b),
(c), (m) or (o).
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(c) If a Participant dies, retires, or becomes disabled during the Plan
Year and does not complete the hours requirement for a contribution,
an allocation
[_] (1) shall not be made on such Participant's behalf for such
Plan Year.
[X] (2) shall be made on such Participant's behalf for such Plan
Year regardless of any last day requirement elected under
A-3.01(b)(5).
Note: The above election applies to Profit Sharing
Contributions under Section A-3.01(a), Matching
Contributions under A-4.02 and Qualified Non-elective
Contributions under A-4.03.
(d) Employer contributions under this Section and forfeitures, if
applicable, shall be allocated to Participant's Accounts as
follows:
[_] (1) NON-INTEGRATED FORMULA
On a pro-rata basis to all Participants in the proportion
that a Participant's Compensation bears to the total of
all Participants' Compensation.
[_] (2) INTEGRATED FORMULA (INTEGRATED WITH SOCIAL SECURITY)
Note: This Plan may not provide for permitted disparity
(integration with Social Security) if the Employer
maintains any other plan that provides for permitted
disparity and benefits any of the same Participants.
STEP ONE: In any Plan Year the Plan is Top-Heavy
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contributions and forfeitures (if applicable) shall be
allocated to all Participants in the ratio that each
Participant's Compensation bears to all Participant's
Compensation, but not in excess of 3% of such
Compensation.
(If the plan is not top-heavy, proceed to step two.)
STEP TWO: Any contributions and forfeitures not
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allocated in STEP ONE shall be allocated to each
Participant's Account in the ratio that the sum of each
Participant's total Compensation plus Compensation in
excess of the integration level bears to the sum of all
Participants total Compensation plus Compensation in
excess of the integration level, but not in excess of the
maximum disparity rate.
STEP THREE: Any remaining Employer contributions or
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forfeitures shall be allocated to each Participant's
Account in the ratio that each Participant's total
Compensation for the Plan Year bears to all Participants'
total Compensation for that year.
For the purpose of this Section, Compensation shall mean
Compensation as defined in Section 1.13 of the Plan.
The integration level shall be:
[_] (i) The Taxable Wage Base [The maximum amount of
earnings which may be considered wages for a
year under Section 3121(a)(1) of the Code in
effect as of the first day of the Plan Year.]
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[_] (ii) $_________ (Must be less than the Taxable Wage
Base.)
The maximum profit sharing disparity rate is equal to
the lesser of:
(a) 5.7%, or
(b) The applicable percentage determined in accordance
with the table below:
If the integration level:
Is more But not more The applicable
than than percentage is
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$0.00 $X* 5.7%
X* 80% of TWB*** 4.3%
80% of TWB*** Y** 5.4%
* X = the greater of $10,000 or 20% of the TWB.
** Y = any amount more than 80% of the TWB but
less than 100% of the TWB.
***TWB = Taxable Wage Base at the beginning of
the Plan Year. The TWB for 1989 is
$48,000. The TWB for 1990 is $51,300.
Note: Pursuant to Section 16.03, only one
paired plan adopted by the Employer may
be integrated with Social Security.
(e) Is any Employee who is eligible to participate under this Plan
covered by any other plan [including plans of non-participating
employers required to be aggregated under Section 414(b), (c),
(m) or (o) of the Code] which is integrated with Social Security?
[_] (1) No
[_] (2) Yes [may not elect A-3.01(d)(2)]
A-3.03 (a) Rollover contributions:
[_] (1) shall not be permitted under this Plan.
[X] (2) shall be permitted under this Plan.
(b) Rollover contributions shall be accepted from:
[_] (1) Participants only.
[X] (2) Participants and non-Participants (otherwise eligible Employees
who have not yet satisfied the age and/or service requirements
for participation).
A-3.07 ALLOCATION OF EARNINGS shall be based on the Account balance as of the
beginning of the allocation period plus 1/2 of the contribution
allocated at the end of the allocation period, less all withdrawals,
plus investment transfers in, and less investment transfers out,
unless otherwise specified.
This plan utilizes daily accounting.
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A-3.08 ALL FORFEITURES occurring at the end of Plan Year: (select one)
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[X] (a) shall be used to reduce the Employer's contribution for the
current Plan Year. If the Employer does not make a contribution
for a Plan Year, any available forfeitures shall be treated as
Employer Contributions.
[_] (b) shall be allocated in the same manner as Employer contributions
under Section 3.01 for the current Plan Year. However,
forfeitures shall not be allocated to Participants who are not
employed on the last day of the Plan Year unless such
allocation is required to satisfy the requirements of Code
Sections 401(a)(26) and/or 410(b). (Do not elect if no Profit
Sharing contribution is specified in A-3.01).
IV. CASH OR DEFERRED ARRANGEMENT (CODA)
A-4.01 ELECTIVE DEFERRALS
(a) An eligible Employee may elect to have his or her annual
Compensation reduced by
[X] (1) from 1 % to 15%
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[_] (2) (Specify)
Such election shall be in writing and in a form and manner
specified by the Plan Administrator.
(b) A Participant may elect to commence, or to modify the amount of,
Elective Deferrals as of:
[_] (1) the first day of each Plan Year.
[X] (2) the first day of each Plan Year and the date 6 months
after the first day of each Plan Year.
[_] (3) the first day of each Plan Year quarter.
The Plan Administrator may permit an additional election in the
event an Actual Deferral Percentage Test, performed during the
Plan Year, permits or requires an adjustment in the deferral
percentages.
A-4.02 MATCHING CONTRIBUTIONS
(a) The Employer [select (1) or (2)]
[X] (1) shall
[_] (2) shall not
make Matching Contributions to the Plan on behalf of all
Participants who elect to have Elective Deferrals made under the
Plan and who are credited with at least [select (3), (4) or (5)]
[_] (3) 1,000 Hours of Service
[_] (4) 500 Hours of Service
[X] (5) one Hour of Service
during the Plan Year and [select (6) or (7)]
[X] (6) regardless of employment on the last day of the Plan
Year.
[_] (7) who is employed with the Employer on the last day of
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the Plan Year.
The preceding notwithstanding, effective for Plan Years commencing
on and after January 1, 1990, matching contributions shall be
allocated to all Participants who elect to have Elective Deferrals
made under the Plan and who are credited with more than 500 Hours of
Service during the Plan Year, or who are employed on the last day of
the Plan Year.
Note: Employer includes all employers which are required to be
aggregated with the Employer under Code Sections 414(b),
(c), (m) or (o).
(b) The Employer shall contribute and allocate to each Participant's
Matching Contribution Account:
[X] (1) an amount equal to 50 percent of the Participant's
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Elective Deferrals.
[_] (2) a discretionary matching contribution equal to a
percentage (to be determined each year by the Employer)
of each Participant's Elective Deferrals.
(c) The Employer shall not match Elective Deferrals in excess of
8 percent of a Participant's
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[X] (1) compensation per pay period.
[_] (2) annual compensation.
(d) The Matching Contribution allocated to any Participant's account
for the Plan Year shall not exceed
[_] (1) $
[X] (2) N/A
(e) Matching Contributions shall be vested in accordance with the
following schedule:
[_] (1) 100% vested at all times.
[X] (2) The vesting schedule as elected in A-11.02 of the
Adoption Agreement.
(f) Matching contributions shall be made
[_] (1) only from current or accumulated profits.
[X] (2) without regard to current or accumulated profits.
A-4.03 (a) Qualified Non-elective Contributions shall be allocated to the
accounts of Non-highly Compensated Participants who are credited
with at least [select (1), (2) or (3)]
[_] (1) 1,000 Hours of Service
[_] (2) 500 Hours of Service
[X] (3) one Hour of Service
during the Plan Year and [select (4) or (5)]
[X] (4) regardless of employment on the last day of the Plan
Year.
[_] (5) who is employed with the Employer on the last day of
the Plan Year.
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The preceding notwithstanding, effective for Plan Years commencing
on and after January 1, 1990, Qualified Non-elective Contributions
shall be allocated to all Participants who are credited with more
than 500 Hours of Service during the Plan Year, or who are employed
on the last day of the Plan Year.
Note: Employer includes all employers required to be aggregated
with the Employer under Code Sections 414(b), (c), (m) or
(o).
A-4.13 Pre-retirement distributions of a Participant's entire Account balance,
including Elective Deferrals and Qualified Non-elective Contributions,
upon attainment of age 59 1/2 (may not be less than 59 1/2)
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[X] (a) shall
[_] (b) shall not
be permitted provided the Participant is 100% vested, and the balance
in the Participant's Account has accumulated for at least two (2)
years or the Participant has completed five (5) years of participation
in the Plan.
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A-4.14 Distributions on account of financial hardship
[X] (a) shall
[_] (b) shall not
be permitted to the extent provided in Section 4.14, and subject to
applicable regulations.
Distributions on account of financial hardship shall be made only
from:
[X] (c) Elective Deferrals (and any earnings credited to a
Participant's Elective Deferral account as of the end of the
last Plan Year ending before July 1, 1989.) The amount
available for distribution shall include the amount credited to
the Participant's Qualified Matching Contribution and Qualified
Non-elective Contribution accounts as of the end of the last
Plan Year ending before July 1, 1989.
[_] (d) Account balances which are not subject to the withdrawal
restrictions of Section 4.13 provided the Participant is 100%
vested, and the funds have accumulated for at least two (2)
years or the Participant has completed five (5) years of
participation in the Plan.
Note: Hardship withdrawal provisions for funds described in (d)
above, are protected benefits under Code Section 411(d)(6). If
the conditions described in Section 4.14 are more restrictive
than those in effect immediately prior to the adoption of this
Plan, the prior conditions shall continue to apply to all such
funds including those which have accrued after the date this
Plan is adopted, and the Employer should attach to this
Adoption Agreement a hardship withdrawal policy statement fully
describing the objective and nondiscriminatory conditions
applicable to such withdrawals.
V. LIMITATIONS ON ALLOCATIONS
If the Employer maintains or ever maintained another qualified plan in which any
Participant in this Plan is (or was) a Participant or could become a
Participant, the Employer must complete this Section. The Employer must also
complete this Section if it maintains a welfare benefit fund, as defined in
Section 419(e) of the Code, or an individual medical account, as defined in
Section 415(1)(2) of the Code, under which amounts are treated as Annual
Additions with respect to any Participant in this Plan.
A-5.11 If the Participant is covered under another qualified Defined
Contribution plan maintained by the Employer, other than a Master or
Prototype plan:
[_] (a) The provisions of Sections 5.05 through 5.10 of Article V
shall apply as if the other plan were a Master or Prototype
plan.
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[_] (b) Provide the method under which the plans shall limit total
Annual Additions to the Maximum Permissible Amount, and shall
properly reduce any excess amounts, in a manner that precludes
Employer discretion.
_______________________________________________________________
_______________________________________________________________
_______________________________________________________________
_______________________________________________________________
[X] (c) N/A The Employer maintains no other plan which provides an
Annual Addition as defined under Section 5.13(a).
A-5.12 If the participant is or has ever been a participant in a Defined Benefit
plan maintained by the Employer:
[_] (a) The Annual Additions which may be credited to the Participant's
Account under this Plan shall not be limited other than by the
Maximum Permissible Amount as defined in Section 5.13(k). If
the sum of the Defined Benefit Fraction and the Defined
Contribution Fraction would otherwise exceed 1.0, such sum
shall be reduced to not exceed 1.0 by adjusting the
Participant's Projected Annual Benefit under the Defined
Benefit plan.
[_] (b) Provide language which shall satisfy the 1.0 limitation of
Section 415(e) of the Code. Such language must preclude
Employer discretion.
_______________________________________________________________
_______________________________________________________________
_______________________________________________________________
_______________________________________________________________
[X] (c) N/A The Employer does not and has never maintained a
Defined Benefit plan.
VI. INVESTMENT OF CONTRIBUTIONS
A-6.02 Life Insurance: The Trustee may, at the direction of the Participant
and subject to the requirements of Section 6.02, use a portion of each
contribution to purchase life insurance.
[_] (a) Yes, subject to the guidelines outlined below, if any.
_______________________________________________________________
_______________________________________________________________
_______________________________________________________________
[X] (b) No
A-6.03 Participants may direct the Trustee as to the investment of their
individual Account balances which are attributable to: (check all which
apply)
[_] (a) Elective Deferrals
[_] (b) Employer Matching Contributions
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[_] (c) Rollovers
[X] (d) All contributions regardless of source
[_] (e) None of the above--Participants may not direct the investment
of their accounts
A-6.05 Participant Loans
[X] (a) shall be permitted in accordance with the Employer's written
loan policy.
[_] (b) shall not be permitted.
VIII. BENEFITS
A-8.01 Normal Retirement Date: (select one)
[X] (a) The later of the first day of the month (select one)
[_] nearest
[X] on or following
a Participant's 65th (cannot be less than 55) birthday or the
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first day of the month on or following the N/A 1st - 7th or
---
N/A) anniversary in which (select one)
[_] participation commenced
[_] the Employee first performed an Hour of Service
but in no event later than the first day of the month on or
following a Participant's ________ birthday.
[_] (b) The later of the first day of the Plan Year nearest a
Participant's _______________ (cannot be less than 55)
birthday, or the first day of the Plan Year nearest the
_______________ (1st-7th or N/A) anniversary in which (select
one)
[_] participation commenced
[_] the Employee first performed an Hour of Service
but in no event later than the first day of the Plan Year
nearest a Participant's _______________ birthday.
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A-8.02 (a) Early Retirement Date: Shall mean: (select one)
[_] (1) None--no Early Retirement Date.
[X] (2) First day of any [X] month [_] Plan Year on or following a
Participant's 55th (cannot be less than 55) birthday or
after X/X (0-0 xx X/X) [_] Vesting Years of Service [_]
---
years of participation in the Plan, whichever date is
later.
(b) Early Retirement Benefit: Upon satisfaction of the age and service
requirements for Early Retirement, a (select one) Participant shall:
[X] (1) automatically become 100% vested in the Account.
[_] (2) be entitled to the vested Account based on the vesting
schedule designated in the Adoption Agreement.
A-8.04 Disability Retirement Benefit:
(a) In the event of total and permanent disability, a Participant shall:
(select one)
[X] (1) automatically become 100% Vested in the Account.
[_] (2) be entitled to the vested Account based on the vesting
schedule designated in the Adoption Agreement.
(b) Disability shall mean a physical or mental impairment which is
expected to result in death or blindness or which can be expected to
last for a continuous period of not less than 12 months resulting
in: (select one)
[_] (1) an inability to engage in any substantial gainful activity
for which the Participant is reasonably suited by reason
of training, education and experience as determined by the
Plan Administrator. The Plan Administrator may require
that the Participant be examined by physician(s) selected
by the Plan Administrator.
[X] (2) the Participant being entitled to Social Security
Disability Benefits. In the event a Participant has
applied for Social Security Disability Benefits, the
disability benefits provided by this Plan shall commence
upon qualifying for Social Security Disability Benefits.
[_] (3) an inability to perform the normal duties for the Employer
as determined by the Plan Administrator. The Plan
Administrator may require that the Participant be examined
by physician(s) selected by the Plan Administrator.
16
A-8.09 Benefits shall be distributed:
[X] (a) only in the form of a single lump-sum payment. (May not
elect if other forms were available immediately preceding
the adoption of this Plan.)
[_] (b) in accordance with the provisions of Section 8.08.
XI. TERMINATION OF SERVICE
A-11.02 The vesting schedule for benefits (derived from the Employer's
contributions pursuant to Article III) upon termination of employment
shall be determined according to the selection based on Vesting Years
of Service as credited in accordance with A-1.73: (select one)
[_] (a) 100% vested at all times
[X] (b) 100% vested after 3 (not to exceed 5) years of service.
-
[_] (c) 20% vested after 2 years of service
40% vested after 3 years of service
60% vested after 4 years of service
80% vested after 5 years of service
100% vested after 6 years of service
[_] (d) 20% vested after 3 years of service
40% vested after 4 years of service
60% vested after 5 years of service
80% vested after 6 years of service
100% vested after 7 years of service
[_] (e) Specify: (Must in all years be as favorable as the schedule in
(b) above, or as favorable as the schedule in (d) above.)
_____% vested after _____ years of service
_____% vested after _____ years of service
_____% vested after _____ years of service
_____% vested after _____ years of service
_____% vested after _____ years of service
_____% vested after _____ years of service
_____% vested after _____ years of service
Note: If this is a restated plan and the vesting schedule has been
amended, enter the pre-amended schedule below:
[_] (f) _____% vested after _____ years of service
_____% vested after _____ years of service
_____% vested after _____ years of service
_____% vested after _____ years of service
_____% vested after _____ years of service
_____% vested after _____ years of service
_____% vested after _____ years of service
[_] (g) Vesting schedule has not been amended.
17
A-11.05 Distributions upon termination of Service shall be made as soon as
administratively feasible following:
[X] (a) Termination of employment.
[_] (b) The end of the Plan Year following termination of employment.
[_] (c) The end of the Plan Year during which a One-Year Break in
Service occurs.
[_] (d) Early or Normal Retirement Date, Death, or Disability.
Note: May not be more restrictive than the provision in effect
immediately preceding the adoption of this Plan.
A-11.09 Benefits which are no longer immediately distributable
[_] (a) shall not be distributed without the consent of the
Participant and/or Beneficiary prior to the time required by
Article X.
[X] (b) shall, subject to the requirements of Article IX, be
distributed as soon as administratively feasible following
the date on which they cease to be immediately distributable.
Note: An Account balance is immediately distributable if any part
of the Account balance could be distributed to the
Participant (or Surviving Spouse) before the Participant
attains (or would have attained if not deceased) the later of
Normal Retirement Age or age 62.
XV. TOP-HEAVY
Before completing this Section of the Adoption Agreement, the Employer should
carefully read Article XV of the Basic Plan Document paying particular attention
to Sections 15.03 thru 15.05.
A-15.02 Minimum Top-heavy Allocations: The purpose of this Section A-15.02 is
to coordinate Top-Heavy minimum contributions or benefits when two or
more plans of the Employer are involved. If the Employer maintains only
this plan, and has never maintained a Defined Benefit plan, the
Employer is required to complete only Section (d). If the Employer
maintains (or has maintained) a Defined Benefit plan, this Section
should be completed only with the advice of that plan's actuary. If the
Employer maintains two Defined Contribution plans, and has never
maintained a Defined Benefit plan, the Employer is required to complete
only Sections (c) or (d).
(a) If the Employer maintains a Defined Benefit plan, this Section or
--------- - ------- -------
Section (d) below must be completed.
If a non-key Employee participates in both a Defined Benefit plan
and a Defined Contribution plan which are part of a Required
Aggregation Group or a Permissive Aggregation Group and the Top-
Heavy Ratio exceeds 60% (but does not exceed 90%), Top-Heavy
minimum benefits shall be provided as follows:
18
[_] (1) In the Defined Contribution Plan, with a minimum
allocation of:
[_] (i) 5% of total compensation (Defined Benefit
and Defined Contribution Fractions
computed using 100% of the dollar
limitation)
[_] (ii) 7.5% of total compensation (Defined Benefit
and Defined Contribution Fractions
computed using 125% of the dollar
limitation)
[_] (2) In the Defined Benefit Plan, with a minimum annual
accrual of:
[_] (i) 2% of the highest 5 consecutive year average
compensation (Defined Benefit and Defined
Contribution fractions computed using
100% of the dollar limitation)
[_] (ii) 3% of the highest 5 consecutive year average
compensation (Defined Benefit and Defined
Contribution Fractions computed using
125% of the dollar limitation)
If the Top-Heavy Ratio exceeds 90%, the minimum benefit shall be
provided in:
[_] (3) the Defined Contribution plan with a minimum allocation
of 5% of total compensation
[_] (4) the Defined Benefit plan with a minimum accrual of 2% of
the highest 5 consecutive year average compensation
Note: When the Top-Heavy Ratio exceeds 90%, the Defined Benefit
and Defined Contribution Fractions shall be computed
using 100% of the dollar limitation.
(b) If the Employer maintains (or has maintained) a Defined Benefit
--------- -- --- ---------- - ------- -------
plan, this Section or Section (d) below must be completed.
If the Employer maintains both a Defined Benefit plan and a Defined
Contribution plan which are part of a Required Top-Heavy Ratio
exceeds 60% (but does not exceed 90%), a non-key Employee who
participates only in the Defined Contribution plan shall receive a
minimum allocation of:
[_] (1) 3% of total compensation (Defined Benefit and Defined
Contribution Fractions computed using 100% of the
dollar limitation)
[_] (2) 4% of total compensation (Defined Benefit and Defined
Contribution Fractions computed using 125% of the
dollar limitation)
If the Top-Heavy Ratio exceeds 90% each non-key Employee who
participates only in the Defined Contribution plan shall receive
19
a minimum allocation of 3% of total compensation.
(c) If the Employer maintains two Defined Contribution plans, this
--------- --- ------- ------------
Section or Section (d) below must be completed.
If a non-key Employee participates in two Defined Contribution
plans maintained by the Employer, the Defined Contribution
minimum allocation requirement shall be met
[_] (1) in this plan.
[_] (2) in the other plan._______________________________________
(Name of Plan)
(d) Complete this Section only if (a), (b) and/or (c) have not been
-------- ---- ------- ---- -- --- --- ------ --- ---- --- ----
completed.
---------
[_] (1) Specify how the plans shall provide Top-Heavy minimum
benefits for non-key Employees precluding Employer
discretion and avoiding inadvertent omissions.
_________________________________________________________
_________________________________________________________
_________________________________________________________
[X] (2) The Employer maintains only this Plan and has never
maintained a Defined Benefit Plan.
A-15.06 TOP HEAVY VESTING...If this Plan becomes a Top-Heavy Plan, the
following vesting schedule for such Plan Year and each succeeding Plan
Year, whether or not Top-Heavy, shall be effective and shall be treated
as a Plan amendment pursuant to this Agreement.
[_] (a) 100% vested after ___ (not to exceed 3) years of service.
[_] (b) 20% vested after 2 years of service
40% vested after 3 years of service
60% vested after 4 years of service
80% vested after 5 years of service
100% vested after 6 years of service
[_] (c) Specify: (Must in all years be as favorable as the schedule
in (a) above, or as favorable as the schedule in (b) above.)
_____% vested after _____ years of service
_____% vested after _____ years of service
_____% vested after _____ years of service
_____% vested after _____ years of service
_____% vested after _____ years of service
_____% vested after _____ years of service
[X] (d) N/A, Vesting schedule in A-11.02 is equal to or more
favorable than (a) or (b) above.
However, this Section does not apply to the Account balances of any
Participant who does not have an Hour of Service after the Plan has
initially become Top-Heavy. Such Participant's Account balance
attributable to Employer contributions and forfeitures shall be
determined without regard to this Section.
An Employer who has ever maintained or who later adopts any plan [including a
welfare benefit fund, as defined in Section 419(e) of the Code, which provides
post-retirement medical benefits allocated to separate accounts for Key
Employees, as defined in Section 419A(d)(3) of the Code, or an individual
medical account, as defined in Section 415(1)(2) of the Code] in addition to
this Plan other than paired plans #00201 or #00401 may not rely on the Opinion
Letter issued by the National Office of the Internal Revenue Service as evidence
that this Plan is qualified under Section 401 of the Internal Revenue Code. If
20
the Employer who adopts or maintains multiple plans wishes to obtain reliance
that his or her plan(s) are qualified, application for a determination letter
should be made to the appropriate Key District Director of Internal Revenue.
This adoption agreement may be used only in conjunction with basic plan document
#01.
Provided the adoption of this Plan is properly registered with the Prototype
Sponsor, the Prototype Sponsor shall inform the adopting Employer of any
amendments made to the Plan or of the discontinuance or abandonment of the Plan.
The adoption of the Plan is not properly registered unless the attached
registration form along with the applicable registration fee is returned to:
Lincoln National Life Insurance Company
0000 Xxxxx Xxxxxxx Xxxxxx
X.X. Xxx #0000
Ft. Xxxxx, IN 46801-2248
Inquiries by adopting Employers regarding the adoption of this Plan, the
intended meaning of any Plan provisions, or the effect of the Opinion Letter
may be directed to the Prototype Sponsor at the above address or phone
(000) 000-0000.
21
Use of this Plan Document without proper registration and payment of the
applicable registration fee constitutes an unauthorized use.
The Employer represents that it has consulted with its attorney with respect to
its adoption of this Plan, and agrees to the provisions of the Plan and Trust.
IN WITNESS HEREOF, the Employer has caused this Agreement to be signed by its
duly authorized Officer and the Trustee(s) have accepted the appointment and
signed this Agreement.
Exigent Diagnostics, Inc.
-----------------------------------------
(Legal Name of Employer)
BY:
-----------------------------------------
(Signature of Officer)
------------------------------- -----------------------------------------
(Date) (Typed or Printed Name
and Title of Officer)
Accepted By:
------------------------------- -----------------------------------------
(Date) (Signature of Trustee)
------------------------------- -----------------------------------------
(Date) (Signature of Trustee)
------------------------------- -----------------------------------------
(Date) (Signature of Trustee)
Participating Employer Authorized Signature Date
---------------------- -------------------- ----
--------------------------- ------------------------- --------------------
--------------------------- ------------------------- --------------------
--------------------------- ------------------------- --------------------
--------------------------- ------------------------- --------------------
Failure to properly complete this Adoption Agreement may result in
disqualification of the Plan.
22
R E G I S T R A T I O N
-----------------------
OF
THE LINCOLN NATIONAL LIFE INSURANCE COMPANY
STANDARDIZED
401(k) SALARY REDUCTION PLAN AND TRUST PROTOTYPE PLAN
PLAN #008 IRS SERIAL #D259972a
Adopting Employer: Careside Inc.
------------------------------------------------------------
Address: XX Xxx 000
------------------------------------------------------------
Xxxxx, XX 00000
------------------------------------------------------------
------------------------------------------------------------
Telephone: (000) 000-0000
------------------------------------
List all investment contract and plan numbers assigned by Lincoln, if any:
PS-51187
--------------------------------------------------------------------------------
The Adopting Employer agrees to provide Lincoln with any changes to its current
mailing address and to give Lincoln written notification of any plan amendment
(as outlined in Section 12.02 of the Defined Contribution Prototype Plan Basic
Plan #01), restatement or termination.
In consideration of the above, Lincoln agrees to:
* provide the Adopting Employer with a copy of the current Defined
Contribution Prototype Plan Basic Plan #01 and Adoption Agreement; and
* advise the Adopting Employer of any amendments made to the Prototype Plan;
and
* inform the Adopting Employer of any changes in the Prototype Plan's
qualified status; and
* inform the Adopting Employer of any discontinuance or abandonment of the
Prototype Plan.
This registration does not effect the rights and obligations of Lincoln or the
Adopting Employer under any other arrangement, including (but not limited to)
Lincoln's right to charge an additional fee for providing an updated Prototype
Plan and/or Adoption Agreement.
Continued reliance by the Adopting Employer upon the Prototype Plan's favorable
Opinion Letter from the IRS is dependant upon the Adopting Employer adopting the
current version of the Prototype Plan.
Please sign and return this registration form to:
Lincoln National Life Insurance Company
0000 Xxxxx Xxxxxxx Xxxxxx
X.X. Xxx 0000
Xxxx Xxxxx, XX 00000-0000
Attention: Xxxxx Xxxxxxxx
--------------------------------------------------------------------------------
(Signature of Adopting Employer) (Title) (Date)
23
