Exhibit 10.1
AMENDMENT NO. 2
LKQ CORPORATION EMPLOYEES’
RETIREMENT PLAN
The Plan named above gives the
Employer the right to amend it at any time. According to that
right, the Plan is amended effective May 1, 2009, as
follows:
By striking the
1 st paragraph in the VESTED
BENEFITS SECTION of Article V and substituting the
following:
If an Inactive Participant’s
Vested Account is not payable under the SMALL AMOUNTS SECTION of
Article X, he may elect, but is not required, to receive a
distribution of any part of his Vested Account after he has had a
Severance from Employment for 30 days. A distribution under this
paragraph shall be a retirement benefit and shall be distributed to
the Participant according to the distribution of benefits
provisions of Article VI.
By striking the
1 st paragraph in the SMALL AMOUNTS
SECTION of Article X and substituting the following:
If consent of the Participant is not
required for a benefit that is immediately distributable in the
ELECTION PROCEDURES SECTION of Article VI, a Participant’s
entire Vested Account shall be paid in a single sum as of his
Retirement Date, the date he dies, or the date 30 days after the
date he last had a Severance from Employment for any other reason
(the date the Employer provides notice to the record keeper of the
Plan of such event, if later). If the Participant had a Severance
from Employment for any reason other than his Retirement Date or
death, no small amounts payment shall be made if he again becomes
an Employee before such period of time has elapsed. For purposes of
this section, if the Participant&r
