SECOND AMENDMENT TO THE 1ST SOURCE CORPORATION
EMPLOYEES' MONEY PURCHASE PENSION PLAN AND TRUST
AS AMENDED AND RESTATED EFFECTIVE JANUARY 1, 1989
WHEREAS, 1ST SOURCE CORPORATION (hereinafter referred to as the
"Sponsoring Employer") previously adopted the 1st Source Corporation Employees'
Money Purchase Pension Plan and Trust (hereinafter referred to as the "Plan");
WHEREAS, the Plan allows for its amendment under Section 12.03 of the
WHEREAS, the Sponsoring Employer desires to amend the Plan as indicated
NOW, THEREFORE, the Employer hereby amends the Plan effective as of
January 1, 2000 as follows:
1. Section 1.10 is amended by restating the first sentence of Section 1.10
in order to reflect the current Participating Employers of the Plan as
The term "Employer" shall mean 1st Source Corporation, 1st Source Bank,
1st Source Auto Leasing, Inc., 1st Source Insurance, Inc., and Michigan
Transportation Finance Corp., their successors and assigns, and subsidiary
and/or affiliated corporations with 1st Source Corporation as authorized by the
Board of Directors of 1st Source Corporation, the Sponsoring Employer hereunder,
to participate in this Plan with respect to their Employees, and subject to any
specific provisions of this Plan and authorization by the Sponsoring Employer,
any corporation into which an Employer may be merged or consolidated or to which
all or substantially all of its assets may be transferred.
2. Section 2.09 is added to the Plan as follows:
2.09 Transfers between Participating Employers and Non-Participating
Employers in the Controlled Group:
A Participant who transfers employment to an entity which is in a controlled
group with the Sponsoring Employer, but not itself signatory hereunder, shall
remain an inactive Participant in this Plan to the extent provided in this
Section 2.09. Such inactive Participant shall share in Employer contributions
pursuant to Section 3.01 to the extent (and only to the extent) of his
Compensation while an Employee of an adopting Employer, based on the rules set
forth in this Section 2.09.
For example, as of the date of the adoption of this amendment, Trustcorp
Mortgage Company ("Trustcorp") is in a controlled group with 1st Source
Corporation and maintains the Trustcorp Mortgage Company Employee Retirement
Savings Plan for its employees. As long as an inactive Participant is employed
by Trustcorp on the last day of the Plan Year (and also if the Employee
terminates employment during such Plan Year from Trustcorp due to death,
disability or retirement after age 65), Employer contributions under Section
3.01 will be made by the adopting Employer based on the Compensation earned
during the Plan Year by the Participant while employed by the adopting Employer.
3. Section 3.01(B)(2) is amended by adding the following sentence at the
end of such section as follows:
To the extent provided in Section 2.09, a Participant who transfers employment
to an entity in the controlled group with 1st Source Corporation shall be
entitled to Employer contributions.
4. Section 6.02 is amended by restating the second and third sentences in
Section 6.02 as follows:
If such a Participant is re-employed prior to the end of the Plan Year in which
his employment termination occurs, such Participant shall be treated as though
his employment had not been terminated, and the remaining undistributed portion
of his Individual Account shall not be forfeited but shall be vested according
to the vesting schedule previously set forth in Section 6.01. If a Participant
is not re-employed within the time period set forth in the preceding sentence,
such terminated Participant's non-vested Accrued Benefit (if any) remaining in
his Individual Account, including any adjustments thereon pursuant to Sections
3.04 and 3.05 of this Plan, shall be closed and forfeited pursuant to the
provisions Section 3.03 (provided the Participant has received a distribution of
benefits pursuant to Section 6.03 hereof).
5. Except as hereby amended, the Plan as currently in existence is hereby
reaffirmed in its entirety. However, these amendments shall be effective only to
the extent that each one is in compliance with the requirements of the Code and
ERISA. To the extent that any of the foregoing amendments are determined to
cause the Plan not to qualify under applicable Code or ERISA provisions, then
any such amendment causing such disqualification shall be considered void to the
extent necessary to have this Plan continue to be qualified under applicable
Code and ERISA requirements.
6. To the extent that the Employer decides to submit this amendment to the IRS
for approval, this amendment is made expressly contingent upon receiving such
IRS approval. To the extent that the IRS requires any changes in any of these
amendments in order to continue the tax qualified status of the Plan, such
amendments will be made retroactive to such date as is required by the IRS.
1ST SOURCE CORPORATION - "Sponsoring Employer"
By: /s/ Larry E. Lentych
Date: December 29, 2000