GENERAL36530

• Permit No: M1977376
• IBM Index Class Name: General Documents
• Doc Name: EXHIBIT 3 AGREEMENT FOR COMMITMENTS TO MAKE PLAN SUFFICIENT FOR BENEFIT LAIBILITIES
• Media Type: D
• Archive: No

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AGREEMENT FOR COMMITMENT
TO MP X= PLAN SUFFICIENT FOR BENEFIT LIABILITIES
THIS AGRE~*IENT, entered into pursuant to 29 C.F.R. seei:ion
2617.7 and by and between CFf~Z STEEL CORPORATION and members: of
the controlled group (the •COmpany") and THE NON-CONTRIBUTORY
PENSION PLAN OF CFbI STEEL CORPORATION (the •Plan"), shall be
effective as of the last date executed.
WHEREAS, the Company is a Delaware corporation; and
WHEREAS, the Company Tiled for bankruptcy under Chap•tex• ll
of the Bankruptcy Code on November 7, 1990; and
WHEREAS, the Plan is a defined benefit employee pension
benefit plan as described in Section 3(2)(A) of the Emplo~~ee
Retirement Zncome Security Act of 1974 ("FRIBA"), as amended; and
WHEREAS, the Plan is covered by the plan termination
insurance provisions of Title IV of ERISA; and
WHEREAS, the Company is a contributing sponsor o! the: Plan
as described in section 4001(a)(13) and (14) of ERISA; and.
WHEREAS, the Company's Joint Plan of Reorganization, as
approved by the United States Bankruptcy Court for the District
of Utah, Central Division, provides that the company will
terminate the Plan under Section 4041(b) of ERISA; and •
WHEREAS, the Company intends to make a eontzibution to the
Plnn in an amount sufficient to fully fund the Plan and to
satisfy all benefit liabilities, as described in section
4001(a)(16) of ERISA; and
WHEREAS, as part of the standard termination process, the
Plan administrator intends to issue to each affected party a
notice of intent to terminate the Plan, pursuant to section
4041(a)(2) of ERISA; and
WHEREAS, CFI Steel Corporation is authorized to sign this
7lgreement on behalf of the members o! controlled group; andl
WHEREAS, the Company has obtained approval o! this Agzse~aent
by the United States Bankruptcy Court for the District of Uta]z,
Central Division, pursuant to 29 C.F.R. 5 2b17.7 (1992), •
IdOW THEREFORE, the parties hereto agree as follows:
1. The Company promises to pay to the Plan, on or before
the date prescribed for distribution of Plan assets by the :P1E~n
administrator, but not earlier ;than the Effective Date of tl~e
Joint Plan of Reorganization, the amount necessary, if any, to
ensure that, on the date the Plan administrator distributes th.e
assets o! the Plan, the Plan is sufficient to pay all benefit
liabilities.