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SEVENTH AMENDMENT TO THE

PLUMBERS AND STEAMFITTERS LOCAL 72 DEFINED CONTRIBUTION PLAN

This is the Seventh Amendment to the Plumbers and Steamfitters Local 72 Defined Contribution

Plan, which was amended and restated effective January 1, 2014 (the “Plan”). The Trustees desire to amend

to Plan to comply with the Setting Every Community Up for Retirement Enhancement Act of 2019 (the

“SECURE Act”). Accordingly, pursuant to the amendment authority granted to the Trustees in Section 9.1

of the Plan, the Trustees hereby amend the Plan in the following particulars, effective as of January 1, 2020:

1.

Section 6.6 of the Plan shall be amended by deleting said Section in its entirety and inserting the

following new Section 6.6 in lieu thereof:

“6.6 Payment of Benefits. Subject to the requirements of Sections 6.7 and 6.8,

payment of the Participant’s Accumulated Share shall commence not later than sixty (60)

days after the Participant’s Retirement Date, provided the Participant has filed the proper

written application for benefits as prescribed by the Trustees. Otherwise, benefits shall

commence not later than sixty (60) days after the Participant has filed a proper written

application in the form and manner prescribed by the Trustees. Subject to Section 6.8, the

Participant’s Accumulated Share shall begin to be paid to the Participant’s surviving

Spouse or Beneficiary, as applicable, commencing within sixty (60) days of the death of

the Participant where the Beneficiary is entitled to the Participant’s Accumulated Share or,

if the surviving Spouse is to receive the Participant’s Accumulated Share, commencing not

later than: (a) for Participants born before July 1, 1949, the calendar year in which the

Participant attains age seventy and one-half (70 ½), or (b) for Participants born after June

30, 1949, the calendar year in which the Participant attains age seventy-two (72). The

payment of benefits will be contingent upon receipt of the proper written application for

benefits as prescribed by the Trustees.”

2.

Subsection (a)(i) of Section 6.8 of the Plan shall be amended by deleting said Subsection in its

entirety and inserting the following new Subsection (a)(i) in lieu thereof:

“(i) Required Beginning Date. The Participant’s Individual Account shall be

distributed, or shall begin to be distributed, to the Participant no later than the Participant’s

Required Beginning Date. With respect to a Participant who is not a Five-percent Owner,

the ‘Required Beginning Date’ means the April 1 of the calendar year next following the

later of:

(A) (1) for Participants born before July 1, 1949, the calendar year in

which the Participant attains age seventy and one-half (70 ½), or (2) for Participants born

after June 30, 1949, the calendar year in which the Participant attains age seventy-two (72);

or

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(B) The calendar year in which the Participant ceases to be an

Employee.

With respect to a Participant who is a Five-percent Owner, the ‘Required

Beginning Date’ means the April 1 of the calendar year next following the calendar year

described in Paragraph (A) of this Subsection (a)(i).”

3.

Subsection (a)(ii)(A) of Section 6.8 of the Plan shall be amended by deleting said Subsection in its

entirety and inserting the following new Subsection (a)(ii)(A) in lieu thereof:

“(A) If the Participant’s surviving Spouse is the Participant’s sole Designated

Beneficiary, then, except as provided in Section 6.8(d), distributions to the surviving

Spouse will begin by December 31 of the later of: (1) the calendar year immediately

following the calendar year in which the Participant died, or (2) (a) for Participants born

before July 1, 1949, the calendar year in which the Participant attains age seventy and one-

half (70 ½), or (b) for Participants born after June 30, 1949, the calendar year in which the

Participant attains age seventy-two (72)”

4.

Subsection (d) of Section 6.8 of the Plan shall be amended by deleting said Subsection in its entirety

and inserting in lieu thereof the following new Subsection (d):

“(d) Timing of Payments to Beneficiaries.

(i) Model Amendment Elections. With respect to a Participant who

was born before July 1, 1949:

(A) Apply Five-Year Rule to Distributions to Designated

Beneficiaries. If the Participant dies before distributions begin and there is a Designated

Beneficiary, distribution to the Designated Beneficiary is not required to begin by the date

specified in Section 6.8(a)(ii) of the Plan, but the Participant’s entire interest will be

distributed to the Designated Beneficiary by December 31 of the calendar year containing

the fifth (5th) anniversary of the Participant’s death. If the Participant’s surviving Spouse

is the Participant’s sole Designated Beneficiary and the surviving Spouse dies after the

Participant but before distributions to either the Participant or the surviving Spouse begin

this election will apply as if the surviving Spouse were the Participant.

(B) Participants and Beneficiaries May Elect Five-Year Rule.

Participants or Beneficiaries may elect on an individual basis whether the 5-year rule or

the Life Expectancy rule in Sections 6.8(a)(ii) and 6.8(c)(ii) of the Plan applies to

distributions after the death of a Participant who has a Designated Beneficiary. The

election must be made no later than the earlier of September 30 of the calendar year in

which distribution would be required to begin under Section 6.8(a)(ii), or by September 30

of the calendar year which contains the fifth (5th) anniversary of the Participant’s (or, if

applicable, surviving Spouse’s) death. If neither the Participant nor Beneficiary makes an

election under this Section 6.8(d)(i)(B), distributions will be made in accordance with

Sections 6.8(a)(ii) and 6.8(c)(ii) and, if applicable, the elections in Section 6.8(d)(i)(A)

above.

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(ii) Timing of Payments to Beneficiaries. For Participants born on or

after June 30, 1949, in the event of the Participant’s death, the Participant’s entire interest

shall be distributed to his or her Beneficiaries as follows:

(A) Designated Beneficiary. Any and all payments to be

made to the Participant’s Designated Beneficiary or Designated Beneficiaries shall be

made no later than five (5) years following the date of the Participant’s death.

(B) Eligible Designated Beneficiary.

(1) Generally. Any and all payments to be made to

the Participant’s Eligible Designated Beneficiary or Eligible Designated Beneficiaries shall

be made no later than ten (10) years following the date of the Participant’s death.

Notwithstanding the foregoing, if a Participant dies after payments have begun: (a) an

Eligible Designated Beneficiary who is not the Participant’s Spouse may receive

installment payments over a period not longer than the Eligible Designated Beneficiary’s

Life Expectancy if such payments commence no later than one (1) year after the

Participant’s death or as specified in regulations promulgated by the Secretary of the

Treasury; and (b) an Eligible Designated Beneficiary who is the Participant’s Spouse may

receive installment payments over a period not longer than the Spouse’s Life Expectancy

if such payments commence no later than the date on which the Participant would have

attained age seventy-two (72).

(2) Death of Eligible Designated Beneficiary. In the

event of the Eligible Designated Beneficiary’s death prior to the complete distribution of

the Participant’s Individual Account, any and all benefits paid to the Eligible Designated

Beneficiary’s beneficiary shall be made no later than ten (10) years following the date of

the Eligible Designated Beneficiary’s death.

(3) Special Rule for Minor Child. In the event that

the Eligible Designated Beneficiary is a minor child on the Participant’s date of death, and

the Eligible Designated Beneficiary reaches the age of majority (the ‘Majority Date’) while

receiving benefits, the remainder of the benefits payable to the Eligible Designated

Beneficiary following the Majority Date shall be paid with ten (10) years of the Majority

Date.

(iii) Transition Rule for 2020. In the event of a Participant’s death

prior to January 1, 2020 (a ‘Pre-Effective Date Participant’), the rules of Section 6.8(d)(i)

shall apply to such Pre-Effective Date Participant’s beneficiary (a ‘Pre-Effective Date

Beneficiary’). In the event of the death of a Pre-Effective Date Beneficiary on or after

January 1, 2020, the rules of Section 6.8(d)(ii), shall apply to the beneficiary of the Pre-

Effective Date Beneficiary; provided, that such Pre-Effective Date Beneficiary’s

beneficiary shall be treated as an Eligible Designated Beneficiary.”

5.

Section 6.8 of the Plan shall be amended by inserting the following new Subsection (h) to the end

thereof:

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“(h) Definitions of Eligible Designated Beneficiary. For purposes of this

Section 6.8, an ‘Eligible Designated Beneficiary’ is any Designated Beneficiary who is, as

of the Participant’s date of death:

(i) the surviving Spouse of the Participant;

(ii) the Participant’s minor child;

(iii) disabled (within the meaning of Code Section 72(m)(2));

(iv) chronically ill (within the meaning of Code Section 7702B(c)(2)

except that the requirements of subparagraph (A)(i) thereof shall only be treated as

met if there is a certification that, as of such date, the period of inability described

in such subparagraph with respect to the individual is an indefinite one which is

reasonably expected to be lengthy in nature); or

(v) an individual who is not more than ten (10) years younger than the

Participant.”

6.

All other parts of the Plan not inconsistent herewith are hereby ratified and confirmed.

IN WITNESS WHEREOF, this Seventh Amendment has been executed by the Trustees on this

_____ day of _______________, 2020.

UNION TRUSTEES EMPLOYER TRUSTEES

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2 November

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