EX-10
from 11-K
1 page
Amendment No. 1 to Arco Chemical Company Savings Plan Pursuant to Resolutions Adopted by Board of Directors on October 24, 1988, the Arco Chemical Company Savings Plan (The "Plan") Is Hereby Amended Effective as of July 1, 1994: 1. Subparagraph 1.2(b) of the Plan Is Amended to Read as Follows: "(B) in Determining the Base Pay of a Member, the Rules of Section 414(q)(6) of the Code Shall Apply, Except in Applying Such Rules, the Term "Family" Shall Include Only the Spouse of the Member and Any Lineal Descendants of the Member Who Have Not Attained Age 19 Before the Close of the Year. If, as a Result of the Application of Such Rules the Adjusted Base Pay Limitation Is Exceeded, Then the Limitation Shall Be Prorated Among the Affected Individuals in Proportion to Each Such Individual's Base Pay as Determined Under This Paragraph Prior to the Application of This Limitation." 2. Subparagraph 1.7(b)(vii) of the Plan Is Amended to Read as Follows: "(VII) Compensation, for Purposes of This Paragraph 1.13 Means Compensation Within the Meaning of Section 415(c)(3) of the Code Without Regard to Section 125, Section 402(e)(3) and Section 402(h)(1)(b) of the Code." 3. a New Paragraph 4.6 Is Added to the Plan to Read as Follows: "4.6 Exclusive Benefit the Corpus or Income of the Trust May Not Be Divested to or Used for Other Than the Exclusive Benefit of the Members and Their Beneficiaries and to Defray Reasonable Expenses of Administering the Plan." Executed This 1st Day of April, 1996. Attest Arco Chemical Company /S/ John G. Chou /S/ Frank W. Welsh By: By: Frank W. Welsh Vice President Human Resources
12/34/56