Amendment to Employees' Retirement Plan of Laclede Gas Company

Summary

Laclede Gas Company has amended its Employees' Retirement Plan. The changes clarify that Retirement Board members will not be compensated from the retirement fund, and that the company may pay administrative, trustee, and investment manager expenses. The company will also provide clerical and accounting support to the Retirement Board. Additionally, the trust fund assets must be used solely for the benefit of employees, retirees, and their beneficiaries, or to cover reasonable plan administration costs, until all plan liabilities are met.

EX-10.1 3 exh10p1.txt Exhibit 10.1 RESOLUTION REGARDING AMENDMENT TO EMPLOYEES' RETIREMENT PLAN OF LACLEDE GAS COMPANY Resolved, that effective beginning with the current Plan Year, as defined in the Plan: 1. Section 9.6 of the Employees' Retirement Plan of Laclede Gas Company ("Plan") is amended to read as follows: Section 9.6 - Administrative Expenses. -------------------------------------- No member of the Retirement Board shall receive any compensation from the Fund for his services as such member. All expenses of administering the Plan (as distinguished from expenses of administering the Trust Fund) and, in addition, the Trustee's compensation and Investment Manager's compensation, may be paid by the Company. The Company shall furnish the Retirement Board with such clerical and accounting assistance as it may request. 2. Section 11.2 of the Plan is amended to read as follows: Section 11.2 - Trust Fund for Exclusive Benefit of Employees. ------------------------------------------------------------- Subject to the express provision of Section 10.3 of this Plan, at no time prior to the satisfaction of all liabilities with respect to Employees and Retirees and their Designated Dependents and Designated Beneficiaries under the Plan shall any part of the corpus or income of the Trust Fund be used for or diverted to purposes other than (a) for the exclusive benefit of such Employees and Retirees and their Designated Dependents and Designated Beneficiaries under the Plan and (b) to defray reasonable expenses of administering the Plan.