Amendment to the Morgan Stanley 401(k) Plan (Effective January 8, 2018)
Morgan Stanley Services Group Inc. amends its 401(k) Plan to clarify that certain special one-time payments, generally not exceeding $1,000 per person and made to specific employees in the first quarter of 2018, will be excluded from the definition of "Earnings" for plan purposes. This change is effective January 8, 2018, and was executed by the company's Chief Human Resources Officer.
EXHIBIT 10.5
AMENDMENT TO THE
MORGAN STANLEY 401(k) PLAN
Morgan Stanley Services Group Inc. (the “Company”) hereby amends the Morgan Stanley 401(k) Plan (the “401(k) Plan”) as follows:
| 1. | Effective January 8, 2018, the definition of “Earnings” in Section 2 of the 401(k) Plan is amended by inserting a new sentence immediately following the third sentence of the first paragraph thereof to read as follows: |
“Notwithstanding anything to the contrary in the definition of Earnings, Earnings shall exclude amounts designated by the Plan Administrator as ‘a special “one-time” payment’ (generally not to exceed USD $1,000 per person) made to certain employees in the first calendar quarter of 2018.”
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IN WITNESS WHEREOF, the Company has caused this Amendment to be executed on its behalf as of this 17th day of January, 2018.
| MORGAN STANLEY SERVICES GROUP INC. | ||
| By: | /s/ Jeffrey Brodsky | |
| Title: | Chief Human Resources Officer | |
