Back to top

MERGER OF THE COOPER CAMERON CORPORATION SAVINGS-INVESTMENT PLAN

Employee Benefits Plan Agreement

MERGER OF THE COOPER CAMERON CORPORATION SAVINGS-INVESTMENT PLAN You are currently viewing:
This Employee Benefits Plan Agreement involves

COOPER CAMERON CORPORATION

. RealDealDocs™ contains millions of easily searchable legal documents and clauses from top law firms. Search for free - click here.
Title: MERGER OF THE COOPER CAMERON CORPORATION SAVINGS-INVESTMENT PLAN
Date: 2/25/2005
Industry: OILSRV     Sector: ENERGY

Search Employee Benefits Plan Agreement by:

Document Title:

Entire Document: (optional)

50 of the Top 250 law firms use our Products every day
exv10w11
 

Exhibit 10.11

MERGER OF THE
COOPER CAMERON CORPORATION
SAVINGS-INVESTMENT PLAN FOR HOURLY EMPLOYEES
WITH AND INTO THE
COOPER CAMERON CORPORATION
RETIREMENT SAVINGS PLAN

     WHEREAS, Cooper Cameron Corporation (the “Company”) sponsors the Cooper Cameron Corporation Retirement Savings Plan (the “Retirement Savings Plan”) and the Cooper Cameron Corporation Savings-Investment Plan for Hourly Employees (the “Brookshire Plan”); and

     WHEREAS, the Company desires that the Brookshire Plan be merged with and into the Retirement Savings Plan, effective as of February 1, 2005;

     NOW, THEREFORE, effective as of February 1, 2005 (the “Plan Merger Date”), in consideration of the foregoing and notwithstanding any provisions of the Brookshire Plan and the Retirement Savings Plan to the contrary, the Brookshire Plan shall be merged with and into the Retirement Savings Plan as follows:

     1. The Brookshire Plan is hereby amended, restated, and merged with and into the Retirement Savings Plan, with the result that the provisions of the Retirement Savings Plan, as modified herein, replace in their entirety the provisions of the Brookshire Plan. Any provisions of the Retirement Savings Plan required to have an earlier effective date by applicable statute and/or regulation shall be effective as of the required effective date in such statute and/or regulation and shall apply, as of such required effective date, to the Brookshire Plan as if included therein.

     2. Each Participant of the Brookshire Plan as of the Plan Merger Date (“Brookshire Participant”), shall become a Member of the Retirement Savings Plan as of such date (if such Brookshire Participant is not already a Member of the Retirement Savings Plan as of such date).

     3. The trustee of the Brookshire Plan shall be directed to transfer the assets of the Brookshire Plan to the trustee of the Retirement Savings Plan as soon as administratively feasible after the Plan Merger Date. All assets shall be transferred in kind. In order to ensure an orderly transition with respect to the transferred assets of the Brookshire Plan, the Plan Administrator may, in its discretion, temporarily prohibit or restrict withdrawals, loans, execution of, change to, or revocation of a compensation deferral election, change of investment designation of plan account balances, or transfer of amounts in accounts from one investment fund to another investment fund, or other activity as the Plan Administrator deems appropriate; provided that any such temporary cessation or restriction of such activity shall be in compliance with applicable law. Amounts transferred shall remain invested in such investment fund or funds available under the Brookshire Plan in which they were invested immediately prior to the Plan Merger Date. Such transferred amounts shall remain invested in such fund or funds until the Brookshire Participants make new investment designations with respect to such amounts in accordance with

 


 

the provisions of the Retirement Savings Plan as in effect on the date of such investment designations.

     4. Amounts credited to Brookshire Participants’ accounts under the Brookshire Plan shall be credited to corresponding accounts under the Retirement Savings Plan as follows:

  (i)   Amounts, if any, credited to a Brookshire Participant’s “Employee Before-Tax Contributions” subaccount under his “Separate Account” under the Brookshire Plan shall be credited to such participant’s “Basic Account” under the Retirement Savings Plan;
 
  (ii)   Amounts, if any, credited to a Brookshire Participant’s “Employer Matching Contributions” subaccount under his “Participant Account” under the Brookshire Plan shall be credited to such participant’s “Matching Account” under the Retirement Savings Plan; and<
This is only a partial view of this document. We have millions of legal documents and clauses drafted by top law firms. learn more search for free browse for free learn more