Amendment No. 9 to Unified Grocers, Inc. Employee Savings Plan
Unified Grocers, Inc. has amended its Employee Savings Plan, effective August 31, 1997. This amendment changes how elective contributions for highly compensated employees are calculated, ensuring their deferral percentages do not exceed certain limits compared to non-highly compensated employees. It also deletes specific sections of the plan related to these calculations. The amendment was signed by the company's Executive Vice President and General Counsel on May 10, 2010.
Exhibit 10.39.9
AMENDMENT NO. 9
TO THE
UNIFIED GROCERS, INC.
EMPLOYEE SAVINGS PLAN
Unified Grocers, Inc. (the “Company”) hereby amends the above-named plan (the “Plan”), effective as of August 31, 1997, as follows:
1. Section 3.7(a)(i) of the Plan is hereby amended in its entirety to read as follows:
“(i) The amount of Elective Contributions made in any Plan Year on behalf of all Highly Compensated Employees shall not result in an Actual Deferral Percentage for such Highly Compensated Employees that exceeds the greater of:
(A) the Actual Deferral Percentage for all Non-Highly Compensated Employees for the current Plan Year, multiplied by 1.25; or
(B) the Actual Deferral Percentage for all Non-Highly Compensated Employees for the current Plan Year, multiplied by two, provided that the Actual Deferral Percentage for all Highly Compensated Employees does not exceed the Actual Deferral Percentage for all Non-Highly Compensated Employees for the current Plan Year by more than two percentage points.”
2. Sections 3.7(a)(iv) and (v) (and any successors to them) of the Plan are hereby deleted.
* * * * *
The Company has caused this Amendment No. 9 to be signed on the date indicated below, to be effective as indicated above.
| “Company” | ||||
| UNIFIED GROCERS, INC. | ||||
| Dated: May 10, 2010 | By: | /s/ ROBERT M. LING, JR. | ||
| Its: | Executive Vice President & General Counsel | |||
