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EXHIBIT 10.3
AMENDMENT No. 11
to
AMETEK RETIREMENT AND SAVINGS PLAN
WHEREAS, there was adopted and made effective as of October 1,
1984, the AMETEK Retirement and Savings Plan (the "Plan"); and
WHEREAS, the Plan was amended and restated in its entirety,
effective January 1, 1997; and
WHEREAS, Section 10.1 of the Plan provides that AMETEK, Inc.
("AMETEK") may amend the Plan at any time, and from time to time; and
WHEREAS, AMETEK now desires to amend the Plan in certain respects;
NOW, THEREFORE, the Plan is hereby amended as follows:
FIRST: Section 6.4(b) of the Plan is amended to read in its
entirety as follows:
"(b) Retirement Participants. A Retirement Participant or Former
Retirement Participant who has terminated his employment on or after
his Normal Retirement Age or because he was Disabled shall be entitled
to receive a distribution or a direct transfer to another plan of the
value of his Accounts as soon as administratively practicable."
SECOND: Section 6.4(c) of the Plan is amended to read in its
entirety as follows:
"(c) Terminated Participants. Upon a Participant's or a Retirement
Participant's termination of employment with the Employer, either
voluntarily or involuntarily, prior to his Normal Retirement Age (other
than by reason of his death or Disability), he shall be entitled to
receive a distribution or a direct transfer to another plan of the
value of his Accounts, pursuant to Section 6.1; as soon as
administratively practicable after returning a completed benefit
distribution form to the Committee provided, however that his Accounts
must be distributed no later than his Mandatory Distribution Date as
determined under Section 6.5.
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Until benefits are distributed, a Participant's or a Retirement
Participant's Accounts shall be held and invested in accordance with
Section 9.2 pursuant to the instructions of the Former Participant or
Former Retirement Participant."
SECOND: The provisions of this Amendment No. 11 shall be effective
as of May 1, 2000.
IN WITNESS WHEREOF, AMETEK has caused these presents to be
executed, in its corporate name, by its duly authorized officer on this 18th day
of May, 2000.
AMETEK, Inc.
By: /s/ Donna F. Winquist
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Attest:
/s/ Kathryn E. Londra
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