Exhibit 10.3
AMENDMENT NUMBER 7 TO THE
C&D TECHNOLOGIES, INC.
PENSION PLAN FOR SALARIED EMPLOYEES
Article II is amended by the addition of the following Section 2.6.
"2.6 No New Members After December 31, 2000
Effective on and after January 1, 2001, no Employee shall be permitted
entry in the Plan under the provisions of this Article II or any other
provision of this Plan. Any Member of the Plan who is an active
Employee on December 31, 2000 shall continue to earn Credited Service
and Eligibility Service under the terms of the Plan subject to the
terms of Section 2.7."
Article II is amended by the addition of the following Section 2.7.
"2.7 Irrevocable Election to Cease Participation
Any Employee who is hired by the Company and becomes a Member of the
Plan on and after January 1, 2000 and on and before December 31, 2000,
may, at the time and in the manner as published to such Employees by
the Committee, irrevocably elect to cease participation in the Plan. If
an Employee makes an irrevocable election to cease participation, all
Credited Service shall cease, but such Employee will continue to earn
Eligibility Service for purposes of vesting under the Plan. Such
Employee's Accrued Benefit shall be based on Credited Service and
Average Final Creditable Compensation on the date such cessation of
participation becomes effective."
C&D Technologies, Inc.
By /s/ Mark Z. Sappir
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Title VP, Human Resources
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Date: 11/29/2000
