Instrument of Amendment to the MDU Resources Group, Inc. 401(k) Retirement Plan, dated April 25, 2018
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Human Resources
- Retirement Agreements
EX-10.B 4 a2019q2ex10b.htm MDU RESOURCES 401 K RETIREMENT PLAN AMENDMENT 4-25-2018 Wdesk | Exhibit
INSTRUMENT OF AMENDMENT TO THE
MDU RESOURCES GROUP, INC.
401(k) RETIREMENT PLAN
The MDU Resources Group, Inc. 401(k) Retirement Plan (as amended and restated January 1, 2017) (the “K‑Plan”), is hereby amended effective May 1, 2018, as follows:
1. | By adding the following to the table in Section D-1-2 Eligibility to Share in the Profit Sharing Feature of Supplement D-1, Provisions Relating to the Profit Sharing Feature for Certain Participating Affiliates: |
Participating Affiliate | Current Effective Date (Original Effective Date) |
Knife River Corporation – Mountain West | May 1, 2018 (January 1, 2015) |
Explanation: This amendment replaces Knife River Corporation – Northwest (the Idaho Division) (“IDAHO”) with Knife River Corporation – Mountain West (KRC-MW) as a Participating Affiliate in the Profit Sharing Feature, effective May 1, 2018, due to the Idaho Division of Knife River Corporation – Northwest being spun off into a separate legal entity.
2. | By removing the following entry from the table in Section D-1-2 Eligibility to Share in the Profit Sharing Feature of Supplement D-1, Provisions Relating to the Profit Sharing Feature for Certain Participating Affiliates: |
Participating Affiliate | Current Effective Date (Original Effective Date) |
Knife River Corporation – Northwest (the Idaho Division) | January 1, 2015 |
Explanation: This amendment removes IDAHO as a Participating Affiliate in the Profit Sharing Feature, effective May 1, 2018, due to IDAHO being spun off into a separate legal entity.
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3. | By removing the second entry in Schedule B and replacing it with the following: |
Knife River Corporation – Mountain West (formerly known as Knife River Corporation – Northwest (the Idaho Division) shall make supplemental contributions on behalf of its Davis-Bacon Employees in such amounts as may be necessary to satisfy the Prevailing Wage Law’s required fringe cost without regard to any employer Matching and Profit Sharing Contributions pursuant to Supplement G.
Effective May 1, 2018.
Explanation: This amendment revises Schedule B to reflect the Davis-Bacon provisions for KRC-MW, effective May 1, 2018, due to IDAHO being spun off into a separate legal entity.
IN WITNESS WHEREOF, MDU Resources Group, Inc., as Sponsoring Employer of the K-Plan, has caused this amendment to be duly executed by a member of the MDU Resources Group, Inc. Employee Benefits Committee on this 25 day of April, 2018.
MDU RESOURCES GROUP, INC.
EMPLOYEE BENEFITS COMMITTEE
By: /s/Jason L. Vollmer
Jason L. Vollmer, Chairman
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