Eleventh Amendment to Kaiser Group International, Inc. 401(k) Plan

Summary

Kaiser Group International, Inc. has amended its 401(k) Plan, effective May 31, 2004, to designate Kaiser Analytical Management Services, Inc. as an 'Excluded Entity.' This means that employees of Kaiser Analytical Management Services, Inc. are not eligible to participate in the 401(k) Plan. The amendment was authorized by the company's Board and signed by the President and CEO.

EX-10.(E)(11) 2 a04-13571_1ex10de11.htm EX-10.(E)(11)

Exhibit 10(e)(11)

ELEVENTH AMENDMENT TO

KAISER GROUP INTERNATIONAL, INC.

401(k) PLAN

WHEREAS, Kaiser Group International, Inc. (the “Company”) maintains the Kaiser Group International, Inc. Section 401(k) Plan (the “Plan”); and

WHEREAS, Section 10.2 authorizes the Board to amend the Plan;

NOW, THEREFORE, effective May 31, 2004, the Plan is amended as follows:

Exhibit A is amended to include a reference to Kaiser Analytical Management Services, Inc. as an “Excluded Entity”.

Executed this 11^th day of November, 2004.

	KAISER GROUP INTERNATIONAL, INC.


	By:	/s/ Douglas W. McMinn
		Douglas W. McMinn,
		President and Chief Executive Officer