EX-10 9 retire_plan-fa.txt AMENDMENTS TO RETIREMENT PLAN EXHIBIT 10(n) FIRST AMENDMENT TO THE CRIIMI MAE MANAGEMENT, INC. RETIREMENT PLAN CRIIMI MAE Management, Inc. (the "Employer") having heretofore adopted the CRIIMI MAE Management, Inc. Retirement Plan and Trust, a prototype plan document consisting of the Plan Agreement #001 and the Putnam Basic Plan Document #07 (the "Plan") effective as of September 1, 1997, pursuant to the power reserved to the Employer in Section 17.1 of the Plan, hereby amends the Plan Agreement as set forth below. 1. Subsection A.(4) of section 3. is amended in its entirety effective as of September 1, 1997, to read as follows: 3. Eligibility for Plan Participation (Plan Section 3.1). Employees will be eligible to participate in the Plan when they complete the requirements you select in A,B,C and D below. A. Classes of Eligible Employees. The Plan will cover all employees who have met the age and service requirements with the following exclusions: (1) No exclusions. All job classifications will be eligible. X (2) Plan will exclude employees in a unit of Employees covered by a collective bargaining agreement with respect to which retirement benefits were the subject of good faith bargaining, with the exception of the following collective bargaining units, which will be included: . ---- X (3) The Plan will exclude employees who are non-resident aliens without U.S. source income. X (4) Employees of the following Affiliated Employers (specify): CRIIMI MAE, Inc. ----------------- CRIIMI, Inc. ------------ CRI Liquidating REIT, Inc. -------------------------- CRIIMI MAE Financial Corp. -------------------------- CRIIMI MAE Financial III ------------------------ CRIIMI MAE Financial II ----------------------- (5) Leased Employees (6) Employees in the following other classes (specify): ---------- ---------- 2. Subsection A.(1).(d) of Section 7. Is amended in its entirety effective as of September 1, 1997, to read as follows: 7. Compensation (Plan Section 2.8). ---------------------------------- A. Amount. ------ (1) Elective Deferrals and Employer Matching Contributions. Compensation for the purposes of determining the amount and allocation of Elective Deferrals and Employer Matching Contributions will be determined as follows (choose either (a) or (b), and (c) and/or (d) as applicable). X (a) Compensation will include Form W-2 earnings as defined in Section 2.8 of the Plan. (b) Compensation will include all compensation included in the definition of Code Section 415 Compensation in Plan Section 6.5(b) of the Plan. X (c) In addition to the amount provided in either (a) or (b) above, Compensation will also include any amounts withheld from the employee under a 401(k) plan, cafeteria plan, SARSEP, tax sheltered 403(b) arrangement, or Code Section 457 deferred compensation plan, and contributions described in Code Section 414(h)(2) that are picked up by a governmental employer. X (d) Compensation will also exclude the following amount (choose each that applies): (i) overtime Pay. X (ii) bonuses. (iii) commissions. X (iv) other pay (describe): Auto Allowance, Stock Compensation, Referral Fees, Air Fare Bonus, BWI Bonus, Group Term Life Insurance benefit, Long Term Disability benefit, Moving Expenses and Tuition Reimbursement. (v) compensation in excess of $ -- In all other respects, the Plan provisions remain in full force and effect. IN WITNESS, WHEREOF, the Employer has caused the First Amendment to the Plan to be duly executed in its name and behalf and its corporate seal to be affixed this First day of September, 1997. ATTEST: CRIIMI MAE Management, Inc. Retirement Plan Putnam Fiduciary Trust Company By: /s/ Cynthia O. Azzara By: /s/ Christopher Mastrianni -------------------------- -------------------------- Title: Senior Vice President/CFO Title: Vice President ------------------------- -------------------------- Date: September 1, 1997 Date: June 12, 1998 -------------------------- -------------------------- EXHIBIT 10(o) SECOND AMENDMENT TO THE CRIIMI MAE MANAGEMENT, INC. RETIREMENT PLAN CRIIMI MAE Management, Inc. (the "Employer") having heretofore adopted the CRIIMI MAE Management, Inc. Retirement Plan, a prototype plan document consisting of the Plan Agreement #001 and the Putnam Basic Plan Document #07 (the "Plan") effective as of September 1, 1997, pursuant to the power reserved to the Employer in Section 17.1 of the Plan, hereby amends the Plan Agreement as set forth below. 1. Subsection C.(8) of Section 3. of the Plan Agreement is hereby amended effective April 1, 1999, by striking said subsection in its entirety and by substituting the following new paragraph in lieu thereof: "(8) Entry Dates. Each employee in an eligible class who completes the age and service requirements specified above will begin to participate in the Plan on (check one): (a) The first day of the month in which he fulfills the requirements. X (b) The first of the following dates occurring after he fulfills the requirements (check one): (i) The first day of the month following the date he fulfills the requirements (monthly). X (ii) The first day of the first, fourth, seventh and tenth months in a Plan Year (quarterly). (iii) The first day of the first month and the seventh month in a Plan Year (semiannually). (c) Other: (May be no later than (i) the first day of ---- the Plan Year after which he fulfills the requirements, and (ii) the date six months after the date on which he fulfills the requirements, which ever occurs first.)." 2. Subsection A.(3) of Section 4. of the Plan Agreement is hereby amended effective April 1, 1999, by striking said subsection in its entirety and substituting the following new paragraph in lieu thereof: "(3) A Participant may begin to make Elective Deferrals, or change the amount of his Elective Deferrals, as of the following dates (check one): (a) First business day of each month (monthly). X (b) First business day of the first, fourth, seventh and tenth months of the Plan Year (quarterly). (c) First business day of the first and seventh months of the Plan Year (semiannually). (d) First business day of the Plan Year only (annually). (e) Other: . " ------- In all other respects, the Plan provisions remain in full force and effect. IN WITNESS, WHEREOF, the Employer has caused the Second Amendment to the Plan to be duly executed in its name and behalf and its corporate seal to be affixed this First day of December 1999. ATTEST: CRIIMI MAE Management, Inc. Putnam Fiduciary Trust Company By: /s/ H. William Willoughby By: /s/ Tina A. Campbell ----------------------------- ------------------------ Title: President and Secretary Title: SVP Compliance and Consulting ----------------------------- ----------------------------- Date: December 1, 1999 Date: January 22, 2001 ----------------------------- ---------------------------- EXHIBIT 10(p) THIRD AMENDMENT TO THE CRIIMI MAE MANAGEMENT, INC. RETIREMENT PLAN CRIIMI MAE Management, Inc.(the "Employer") having heretofore adopted the CRIIMI MAE Management, Inc. Retirement Plan, a prototype plan document consisting of the Plan Agreement #001 and the Putnam Basic Plan Document #07 (the "Plan") effective as of September 1, 1997, pursuant to the power reserved to the Employer in Section 17.1 of the Plan, hereby amends the Plan Agreement as set forth below. 1. Subsection B.(2) of Section 4., of the Plan Agreement is hereby amended effective January 1, 2001, by striking said subsection in its entirety and by substituting the following new paragraph in lieu thereof: "(2) Qualified Participant. In order to receive an allocation of Employer Matching Contributions for a Plan Year, an Employee must be a Qualified Participant for that purpose. Select below either (a) alone, or any combination of (b), (c) and (d). (a) To be a Qualified Participant eligible to receive Employer Matching Contributions for a Plan Year, an Employee must (check (i) or (ii)): (i) Either be employed on the last day of the Plan Year, complete more than 500 Hours of Service in the Plan Year, or retire, die or become disabled in the Plan Year. (ii) Either be employed on the last day of the Plan Year or complete more than 500 Hours of Service in the Plan Year. Stop here if you checked (a). If you did not check (a), check (b), (c) or (d), or any combination of (b), (c) and (d). To be a Qualified Participant eligible to receive Employer Matching Contributions for a Plan Year, an Employee must: X (b) Be credited with 1 (choose 1, 501 or 1000) Hours of Service in the Plan Year. (c) Be an Employee on the last day of the Plan Year. (d) Retire, die or become disabled during the Plan Year." 2. Subsection A.(3) of Section 9., of the Plan Agreement is hereby amended effective January 1, 2001, by striking said subsection in its entirety and by substituting the following new paragraph in lieu thereof: "(3) Vesting Schedules: (a) 100% vesting immediately upon participation in the Plan. X (b) Five-Year Graded Schedule: Vested Percentage 20% 40% 60% 80% 100% Years of Service 1 2 3 4 5 (c) Seven-Year Graded Schedule: Vested Percentage 20% 40% 60% 80% 100% Years of Service 3 4 5 6 7 (d) Six-Year Graded Schedule: Vested Percentage 20% 40% 60% 80% 100% Years of Service 2 3 4 5 6 (e) Three-Year Cliff Schedule: Vested Percentage 0% 100% Years of Service 0-2 3 (f) Five-Year Cliff Schedule: Vested Percentage 0% 100% Years of Service 0-4 5 (g) Other Schedule (must be at least as favorable as Seven-Year Graded Schedule or Five-Year Cliff Schedule): (i) Vested Percentage % % % % % -- -- -- -- -- (ii) Years of Service " -- -- -- -- -- 3. In all other respects, the Plan provisions remain in full force and effect. IN WITNESS, WHEREOF, the Employer has caused the Third Amendment to the Plan to be duly executed in its name and behalf and its corporate seal to be affixed as of the date signed below. ATTEST: CRIIMI MAE Management, Inc. Putnam Fiduciary Trust Company By: /s/ H. William Willoughby By: /s/ Tina A. Campbell -------------------------- -------------------- Print Name: H. William Willoughby Print Name: Tina A. Campbell -------------------------- -------------------- Title: President and Secretary Title: SVP Compliance & -------------------------- Consulting -------------------- Date: December 20, 2000 Date: January 22, 2001 -------------------------- --------------------