-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, JTppFIr44N6UiWNg7D5f0jZH33PCb1UvuoXM+sRaZYTfepIiI+WSRNytsJ3SzWyp 20LatQFRY350v75Oa/91jA== 0000065201-10-000018.txt : 20100119 0000065201-10-000018.hdr.sgml : 20100118 20100119164242 ACCESSION NUMBER: 0000065201-10-000018 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20100119 ITEM INFORMATION: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers FILED AS OF DATE: 20100119 DATE AS OF CHANGE: 20100119 FILER: COMPANY DATA: COMPANY CONFORMED NAME: MET PRO CORP CENTRAL INDEX KEY: 0000065201 STANDARD INDUSTRIAL CLASSIFICATION: INDUSTRIAL & COMMERCIAL FANS & BLOWERS & AIR PURIFYING EQUIP [3564] IRS NUMBER: 231683282 STATE OF INCORPORATION: PA FISCAL YEAR END: 0131 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-07763 FILM NUMBER: 10533678 BUSINESS ADDRESS: STREET 1: 160 CASSELL ROAD CITY: HARLEYSVILLE STATE: PA ZIP: 19438 BUSINESS PHONE: 2157236751 MAIL ADDRESS: STREET 1: 160 CASSELL ROAD STREET 2: BOX 144 CITY: HARLEYSVILLE STATE: PA ZIP: 19438 FORMER COMPANY: FORMER CONFORMED NAME: MET PRO WATER TREATMENT CORP DATE OF NAME CHANGE: 19740924 FORMER COMPANY: FORMER CONFORMED NAME: MET PRO INC DATE OF NAME CHANGE: 19661026 8-K 1 mpr8k20100116b.htm FORM 8-K mpr8k20100116b.htm


UNITES STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549


FORM 8-K
 
 
 
 
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
 
 
 
Date of Report (Date of earliest event reported):   September 11, 2008

 
MET-PRO CORPORATION
(Exact name of registrant as specified in its charter)
 
 
 
 
Pennsylvania
001-07763
23-1683282
 
(State or other jurisdiction of
 (Commission File Number)
(I.R.S. Employer
 
incorporation or organization)
 
Identification No.)
 

160 Cassell Road, P.O. Box 144
     
Harleysville, Pennsylvania
 
19438
 
(Address of principal executive offices)
 
(Zip Code)
 

Registrant’s telephone number, including area code: (215) 723-6751
 
 
 
 
 
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
    
o
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
   
o
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
   
o
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
   
o
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
   
 
 
 
 
 
 
 



 
 
Item 5.02(e). Compensatory Arrangements of Certain Officers.
 
On September 11, 2008 the Board of Directors of Met-Pro Corporation approved and adopted the Second Amendment to the Met-Pro Corporation Retirement Savings Plan.  A copy of the Second Amendment to the Retirement Savings Plan is filed as an exhibit hereto.


 
 
 
 
 
 
 
 
 
 
 
 
 
 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 



 

 


 
SIGNATURE
 
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
 
 
 
Date:  January 19, 2010
  MET-PRO CORPORATION
   
   
   
  By: /s/ Raymond J. De Hont
  Raymond J. De Hont,
  President and Chief Executive Officer
   
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 


 

 
 
Exhibit Index
 
 
 
Exhibit
 
 Description
       
  (10)(bb)  
 

 
 
 
 


 
EX-10.BB 2 mpr8k20100116bexbb.htm SECOND AMENDMENT TO THE MET-PRO CORPORATION RETIREMENT SAVINGS PLAN mpr8k20100116bexbb.htm
Exhibit (10)(bb)
 
SECOND AMENDMENT TO THE
MET-PRO CORPORATION RETIREMENT SAVINGS PLAN
 
This Second Amendment to the Met-Pro Corporation Retirement Savings Plan (the “Plan”) is made by Met Pro Corporation (the “Company”).
 
W I T N E S S E T H:
 
WHEREAS, the Company established the Plan for its eligible employees effective as of January 1, 1999, and amended and restated as of January 1, 2007;
 
WHEREAS, the Company reserved the right in Section 13.01 of the Plan to amend the Plan at any time; and
 
WHEREAS, the Company wishes to amend the Plan as set forth below.
 
NOW, THEREFORE, the Plan is hereby amended as set forth below.
 
1.           Section 3.01(d) is rewritten effective January 1, 2008 to clarify the administrative procedures adopted by the Plan administrator regarding changes in elective deferral contributions, as follows:
 
(d)           Change in or Discontinuance of Before-Tax Contributions
 
A Participant may, on a quarterly basis, elect to change the amount of his Before-Tax Contributions or resume contributions which have been suspended, or a Participant may elect to discontinue Before-Tax Contributions as soon as administratively possible, in accordance with procedures established by the Plan Administrator.  The Plan Administrator shall have the right to limit the number of changes in a Plan Year.
 
2.           Section 3.02(a) is rewritten to clarify and accurately reflect the resolutions of the Board of Directors which established the Employer Contributions under such
-1-

 
 Section, and to reflect that effective February 1, 2008, collectively bargained employees hired prior to April 15, 2006 are eligible for Employer Contributions, as follows:
 
3.02           Employer Contributions
 
(a)           Amount of Employer Contributions
 
The Company may, in its sole discretion, declare Employer Contributions to be made by the Employer on behalf of actively employed Participants (including, effective February 1, 2008, Employees covered by a collective bargaining agreement who were hired prior to April 15, 2006) in the following amounts:
 
 
(1)
two percent (2%) of Compensation for Participants under the age of 45 or with less than 5 Years of Service;
 
 
(2)
three percent (3%) of Compensation for Participants 45 years or older with 5 to 9 Years of Service;
 
 
(3)
four percent (4%) of Compensation for Participants 45 years of older with 10 of more Years of Service.
 
The percentage applicable to each eligible Participant will be fixed based on the Participant’s age and Years of Service as of the later of December 31, 2006 (February 1, 2006 for collectively bargained employees hired prior to April 15, 2006), or the Participant’s date of hire and will not change during the Participant’s course of employment with the Employer.
 
For purposes of this Section 3.02(b) only, Years of Service shall be determined under Section 3.06 but shall be modified to exclude Years of Service prior
 
-2-

 
to the date that Credited Service was earned under the Met-Pro Corporation Hourly or Salaried Pension Plan, as follows:
 
(a)           employees of Strobic Air Corporation, a subsidiary of Met-Pro Corporation will receive service from February 1, 1997;
 
(b)           employees of the Flex Kleen division of Met-Pro Corporation will receive service from November 1, 1998; and
 
(c)           employees of Pristine Water Solutions Inc. (who were former employees of Pristine Hydrochemical, Inc.) will receive service from June 1, 2002.
 
Notwithstanding the above, an Employer Contribution shall not be made under this Section 3.02(a) to any Participant who retired on an unreduced pension under the terms of the Met-Pro Corporation Hourly or Salaried Pension Plan prior to the December 31, 2006 freeze date applicable under such plans and is subsequently rehired by an Employer.
 
3.           Section 8.04(d)(1) is rewritten, effective October 1, 2008, to read as follows:
 
(d)           Cashout
 
(1)           General Rule
 
Notwithstanding any other provision of the Plan and subject to (2) and (3) below, if a Participant’s vested Account Balance does not exceed $5,000 as of the last day of the Plan Year following the Participant’s termination of employment, the Participant’s Account Balance shall be paid to the Participant, without the Participant’s consent or election, in a single sum payment as soon as administratively practicable following the last day of the Plan Year in accordance with procedures established by the Plan Administrator.
 
-3-

 
4.           The existing Section 9.01(c) is renumbered as Section 9.01(d), and is amended by replacing “(a) and (b) above” with “(a), (b) and (c) above” where the term appears in such Section.
 
5.           A new Section 9.01(c) is added to the Plan effective August 1, 2008 as follows:
 
(c)           Withdrawals From Rollover Account.
 
(1)           Procedures and Funds Available
 
Effective August 1, 2008, a Participant may elect to withdraw all or a portion of his Rollover Account at any time for any reason in accordance with procedures established by the Plan Administrator.
 
(2)           Funding of Withdrawals
 
In the event a withdrawal is less than the total amount credited to a Participant’s Rollover Account, and if such Rollover Account is invested under more than one Investment Fund, then the amount withdrawn from such Rollover Account shall be charged to each Investment Fund (other than any Investment Fund that holds Employer securities) in the same proportion that the net credit balance in the Rollover Account then the subject of withdrawal bears to the combined credit balance in all his Investment Funds in which such Rollover Account is invested.
 
IN ALL OTHER RESPECTS, this Plan is continued in full force and effect. In order to maintain the terms of the Plan in a single document, this Second Amendment may be incorporated into the most recent restatement of the Plan.
 
 
 
 
 
-4-

 
IN WITNESS WHEREOF, the Company has caused this Second Amendment to be executed by its duly authorized officer this  24th  day of  September              , 2008.
 

 
ATTEST:
 
Met Pro Corporation
           
           
           
By
/s/ Amy Covely
 
By
/s/ Gary J. Morgan
 
           
Title:
Benefits Administrator
 
Title:
V/P of Finance
 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
-5-

-----END PRIVACY-ENHANCED MESSAGE-----