Amendment No. 3 to Monro Muffler Brake, Inc. Retirement Plan (GUST Restatement)

Summary

This amendment updates the Monro Muffler Brake, Inc. Retirement Plan, effective March 28, 2005. It specifies that if a participant leaves the company and their retirement benefit is $5,000 or less, the benefit will be distributed as a lump sum. For benefits over $1,000 but $5,000 or less, if the participant does not choose a payout option, the amount will be automatically transferred to a company-designated rollover IRA. Benefits of $1,000 or less will be paid automatically in cash. The amendment was executed by the company's Chief Financial Officer.

EX-10.04.C 5 l26219aexv10w04wc.htm EX-10.04C EX-10.04C  

Exhibit 10.04c
MONRO MUFFLER BRAKE, INC.
RETIREMENT PLAN
Amendment No. 3 to GUST Restatement
     Pursuant to Section 11.1, the Plan is amended, effective March 28, 2005, by deleting current Section 5.2(b) and substituting in its place the following:
     Notwithstanding any other provision of the Plan, if a Participant has terminated employment and the present value of his Accrued Benefit under this Plan is $5,000 or less, this present value shall be distributed under the terms of this Section 5.2(b) in lieu of all benefits to which the Participant is otherwise entitled under this Plan. Effective March 28, 2005, cashouts of benefits having a present value of more than $1,000 but $5,000 or less shall be permitted only after such time (but no later than December 31, 2005) as the Company has established rollover IRAs for mandatory cashouts. At such time as the rollover IRAs are available, if the present value of a Participant’s nonforfeitable Accrued Benefit is more than $1,000 but $5,000 or less, and he fails to elect to have his benefit paid in cash or transferred to an IRA of his own designation, his entire nonforfeitable Accrued Benefit shall be paid automatically to a rollover IRA of the Company’s designation. If a Participant terminates participation in the Plan at a time when the present value of his nonforfeitable Accrued Benefit attributable to Company contributions is $1,000 or less, the present value of his entire nonforfeitable Accrued Benefit shall be paid to him automatically in cash.
     IN WITNESS WHEREOF, the Company has caused its duly authorized officer to execute this amendment on its behalf this 29th day of March, 2005.
         
  MONRO MUFFLER BRAKE, INC.
 
 
  By:   /s/ Catherine D’Amico    
    Title: Executive Vice President — Chief Financial Officer