First Amendment to The Davey Tree Expert Company 401KSOP Match Restoration Plan

Contract Categories: Human Resources › Retirement Agreements
Summary

This amendment updates The Davey Tree Expert Company 401KSOP Match Restoration Plan, effective January 1, 2008. It clarifies that payments to eligible employees or their beneficiaries will be made as a single cash payment from the company's general assets after retirement, death, or other employment termination. The payment must be made by the end of the year in which the event occurs, or by the 15th day of the third month following the event, whichever is later.

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EX-10.25 7 dt2018q410kex1025.htm EXHIBIT 10.25 Exhibit


EXHIBIT 10.24


FIRST AMENDMENT
TO
THE DAVEY TREE EXPERT COMPANY
401KSOP MATCH RESTORATION PLAN


The Davey Tree Expert Company 401KSOP Match Restoration Plan, originally effective as of January 1, 2003, is hereby amended, effective as of January 1, 2008, in the following respects:

1.
Section 2.4 of the Plan is amended to provide as follows:

2.4    Payment. Payment under the Plan to an eligible Employee or his Beneficiary shall be made by the Company solely from its general assets. The match restoration benefit shall be paid in the form of a single cash payment made as soon as reasonably practicable following the eligible Employee's retirement, death, or other termination of employment; provided, however, that the payment shall be made by the end of the year in which the eligible Employee's retirement, death, or other termination of employment occurs or, if later, by the 15th day of the third calendar month following the date of the eligible Employee's retirement, death, or other termination of employment.

* * *

EXECUTED at Kent, Ohio this 7th day of December, 2007

THE DAVEY TREE EXPERT COMPANY
 
 
 
 
By:
/s/ David E. Adante
 
Title:
Executive VP & CFO