Exhibit 10.26 to Department 56 Form 10-K, Dated: January 1, 2005






EXHIBIT 10.26





THE EXECUTIVE NONQUALIFIED EXCESS PLAN SM 

ADOPTION AGREEMENT 



        THIS
AGREEMENT is made the 17th day of February, 2005, by Department 56, Inc. (the
“Employer”), having its principal office at 6436 City West Parkway, Eden
Prairie, MN 55344 and EXECUTIVE BENEFIT SERVICES, INC. (the “Provider”),
having its principal office at 4140 ParkLake Avenue, Suite 500, Raleigh, North Carolina
27612. 



W I T N E S S E T H:  



        WHEREAS,
the Provider has established The Executive Nonqualified Excess PlanSM (the
“Plan”); and 



        WHEREAS,
 the  Employer  desires  to  adopt  the  Plan  as  an  unfunded,  nonqualified  deferred
compensation plan; and 



        WHEREAS,
the provisions of the Plan are intended to comply with the requirements of Section 409A of
the Code and the regulations thereunder, and shall apply to amounts deferred after January
1, 2005, and to amounts deferred under the terms of any predecessor plan which are not
earned and vested before January 1, 2005; and 



        WHEREAS,
the Employer has been advised by the Provider to obtain legal and tax advice from its
professional advisors before adopting the Plan, and that the Provider disclaims all
liability for the legal and tax consequences which result from the elections made by the
Employer in this Adoption Agreement; 



        NOW,
THEREFORE, the Employer hereby adopts the Plan in accordance with the terms and conditions
set forth in this Adoption Agreement: 



ARTICLE I 



        Terms
used in this Adoption Agreement shall have the same meaning as in the Plan, unless some
other meaning is expressly herein set forth. The Employer hereby represents and warrants
that the Plan has been adopted by the Employer upon proper authorization and the Employer
hereby elects to adopt the Plan for the benefit of its Participants as referred to in the
Plan. By the execution of this Adoption Agreement, the Employer hereby agrees to be bound
by the terms of the Plan. 



        This
Adoption Agreement may only be used in connection with The Executive Nonqualified Excess
PlanSM. The Provider will inform the Employer of any amendments to the Plan or
of the discontinuance or abandonment of the Plan. For questions concerning the Plan, the
Employer may call the Provider at (919) 833-1042. 





© 2/2005 Executive Benefit Services, Inc. 




















ARTICLE II 



The Employer hereby makes the
following designations or elections for the purpose of the Plan: 



	2.6  	Committee: The duties of the Committee set forth in the Plan shall be satisfied by:  






	 	         	(a)  	The
administrative committee of at least three individuals appointed by           the Board
to serve at the pleasure of the Board.  






	 	XX   	(b)  	Employer. 






	 	         	(c)  	Other (specify): _____________________________________________.






	2.7  	Compensation: The “Compensation” of a Participant shall mean all of a Participant’s:
 






	 	XX   	(a)  	Base salary.
 






	 	XX   	(b)  	Service Bonus.
 






	 	XX   	(c)  	Performance-Based Compensation earned in a period of 12 months or more. 







	 	         	(d)  	Commissions. 







	 	         	(e)  	Compensation received as an Independent Contractor reportable on Form
          1099. 







	 	         	(f)  	Other:  ______________________________________________.
 






	2.8  	Crediting Date: The Deferred  Compensation  Account of a Participant  shall be credited with the amount of
any Salary Deferral Credits to such account at the time designated below:
 





	 	         	(a)  	The last business day of each Plan Year.
 






	 	         	(b)  	The last business day of each calendar quarter during the Plan Year.
 






	 	         	(c)  	The last business day of each month during the Plan Year. 







	 	         	(d)  	The last business day of each payroll period during the Plan Year. 







	 	         	(e)  	Each pay day as reported by the Employer.
 






	 	XX   	(f)  	Any business day on which Salary Deferral Credits are received by the Provider. 







	 	         	(g)  	Other:  ______________________________________________.










-2-













	2.20  	Participating
 Employer(s):  As of  the  Effective  Date,  the  following  Participating  Employer(s)
 are parties to the Plan: 





	Name of Employer	Address	Telephone No.	EIN
	 
		One Village Place, 6436	 	 
	FL 56 Intermediate Corp.	City West Parkway	(952) 944-5600	13-3684955
	
	
	
	

	 	Eden Prairie, MN 55344
	 	

	 
	 	One Village Place, 6436
	D 56, Inc.	City West Parkway	(952) 944-5600	41-1470891
	
	
	
	

	 	Eden Prairie, MN 55344
	 	

	 
	 	One Village Place, 6436
	Department 56 Trading Co., Ltd.	City West Parkway	(952) 944-5600	13-3693518
	
	
	
	

	 	Eden Prairie, MN 55344
	 	

	 
	 	One Village Place, 6436
	D 56 Canada Holding, Inc.	City West Parkway	(952) 944-5600	41-1923312
	
	
	
	

	 	Eden Prairie, MN 55344
	 	

	 
	 	One Village Place, 6436
	Can 56, Inc.	City West Parkway	(952) 944-5600	41-1923314
	
	
	
	

	 	Eden Prairie, MN 55344
	 	

	 
	 	One Village Place, 6436
	Department 56 Sales, Inc.	City West Parkway	(952) 944-5600	41-1893270
	
	
	
	

	 	Eden Prairie, MN 55344
	 	

	 
	 	One Village Place, 6436
	Department 56 Retail, Inc.	City West Parkway	(952) 944-5600	41-1893269
	
	
	
	

	 	Eden Prairie, MN 55344
	 	

	 
	 	One Village Place, 6436
	TD 56 Holdings, Inc.	City West Parkway	(952) 944-5600	41-1930812
	
	
	
	

	 	Eden Prairie, MN 55344
	 	

	 
	 	One Village Place, 6436 
	Time to Celebrate, Inc.	City West Parkway	(952) 944-5600	01-0689363
	
	
	
	

	 	Eden Prairie, MN 55344
	 	








-3-











		One Village Place, 6436	 	 
	Department 56, Inc.	City West Parkway	(952) 944-5600	13-3684956
	
	
	
	

	 	Eden Prairie, MN 55344
	 	

	 
	 	One Village Place, 6436
	Department 56 Canada, Co.	City West Parkway	(952) 944-5600	41-1941825
	
	
	
	

	 	Eden Prairie, MN 55344
	 	






	2.12	Effective Date:








	 	XX   	(a)  	This is a newly-established Plan, and the Effective Date of the Plan is March 1, 2005.









	 	         	(b)  	This is an amendment and restatement of a plan named ________________________________ with an effective date of _________. The Effective Date of this amended and restated Plan is  ___________. This is amendment number _____.








	2.18	Normal Retirement Age:  The Normal Retirement Age of a Participant shall be:








	 	XX   	(a)  	Age 65.








	 	         	(b)  	The later of age ____ or the ______ anniversary of the participation
                    commencement date. The participation commencement date is the first day of the
                    first Plan Year in which the Participant commenced participation in the Plan. 


                    



	 	         	(c)  	Other: _______________________________________________.









	2.22	Plan:The name of the Plan as applied to the Employer is

      The
Executive Nonqualified Excess Plan of Department 56, Inc. 








	2.22	Plan Administrator:  The Plan Administrator shall be:








	 	         	(a)  	Committee. 








	 	XX   	(b)  	Employer.








	 	         	(c)  	Other: _________________________________________.











-4-











	2.25	Plan Year:  The Plan Year shall end each year on the last day of the month of December.







	2.34	Trust:






	 	XX   	(a)  	The Employer does desire to establish a “rabbi” trust for the purpose of
setting aside assets of the Employer contributed thereto for the payment of benefits under
the Plan. 







	 	         	(b)  	The Employer does not desire to establish a “rabbi”
                    trust for the purpose of setting aside assets of the Employer contributed
                    thereto for the payment of benefits under the Plan. 


                    




	 	         	(c)  	The Employer desires to establish a “rabbi” trust for the
                    purpose of setting aside assets of the Employer contributed thereto for the
                    payment of benefits under the Plan upon the occurrence of a Change in
                    Control. 


                    



	4.1	Salary Deferral
Credits: Subject to the limitations in Section 4.1 of the Plan, a Participant may
elect to have his Compensation (as selected in Section 2.7 of this Adoption Agreement)
deferred within the annual limits below by the following percentage or amount as
designated in writing to the Committee:


                    




	 	XX   	(a)  	Base salary:


                    




	 	  		      minimum deferral:
$__________ or __________%

      maximum deferral: $__________ or           90        %


                    





	 	XX   	(b)  	Service Bonus:


                    




	 	  		      minimum deferral:
$__________ or __________%

      maximum deferral: $__________ or           90        %


                    



	 	XX   	(c)  	Performance-Based Compensation:


                    




	 	  		      minimum deferral:
$__________ or __________%

      maximum deferral: $__________ or           90        %


                    






	 	         	(d)  	Other: _____________________________________________.


                    




	 	  		      minimum deferral:
$__________ or __________%

      maximum deferral: $__________ or                         %


                    




	 	         	(e)  	Salary deferral credits not allowed.


                    








-5-












	4.2	Employer Credits: The Employer will make Employer Credits in the following manner:


                    




	 	XX   	(a)  	Employer Matching Credits: The Employer may make matching credits to the Deferred
Compensation Account of each Participant in an amount determined as follows:


                    



	 	 	XX   	(i)  	An amount determined each Plan Year by the Employer.


                    



	 	 	         	(ii)  	Other:  _________________________________________.


                    




	 	XX   	(b)  	Employer  Profit Sharing Credits:  The Employer may make profit sharing  credits to the Deferred Compensation Account of each Active Participant in an amount determined as follows:


                    



	 	 	XX   	(i)  	An amount determined each Plan Year by the Employer. 


                    





	 	 	         	(ii)  	Other:  _________________________________________.


                    



	 	         	(c)  	Other:  ____________________________________________________.


                    



	 	         	(c)  	Employer Credits not allowed.


                    



	5.3	Death of a
Participant: If the Participant dies while in Service, the Employer shall pay a
benefit to the Beneficiary in an amount equal to the vested balance in the Deferred
Compensation Account of the Participant determined as of the date payments to the
Beneficiary commence, plus:


                    



	 	         	(a)  	An amount to be determined by the Committee.


                    






	 	         	(b)  	Other: _______________________________________________.


                    





	 	XX   	(c)  	No additional benefits.


                    







-6-












	5.4	In-Service Distributions:  In-service accounts are permitted under the Plan:


                    



	 	XX   	(a)  	Yes, with respect to:






	 	 	 	XX   	Salary Deferral Credits only.




	 	 	 	         	Employer
Credits only.




	 	 	 	         	Salary Deferral and Employer Credits.







	 	 	 	In-service
distributions may be made in the following manner:





	 	 	 	XX   	Single lump sum payment.





	 	 	 	         	Annual installment payments over no more than ____ years.










	 	 	 	Amounts
not vested at the specified time of distribution will be:





	 	 	 	         	Forfeited




	 	 	 	XX   	Distributed annually when vested






	 	         	(b)  	No in-service distributions permitted.






	5.5	Education Distributions:  Education accounts are permitted under the Plan:






	 	XX   	(a)  	Yes, with respect to:






	 	 	 	XX   	Salary Deferral Credits only.




	 	 	 	         	Employer
Credits only.




	 	 	 	         	Salary Deferral and Employer Credits.






	 	 	 	Education distributions may be made in the following manner:



	 	 	 	         	Single lump sum payment.




	 	 	 	XX   	Annual installment payments over no more than 6 years.






	 	 	 	Amounts
not vested at the specified time of distribution will be:



	 	 	 	         	Forfeited




	 	 	 	XX   	Distributed annually when vested






	 	         	(b)  	No education distributions permitted.







-7-












	6.1	Payment Options:
Any benefit payable under the Plan upon a Qualifying Distribution Event may be made to the
Participant or his Beneficiary (as applicable) in any of the following payment forms, as
selected by the Participant in the Salary Deferral Agreement:







	 	 	1.	Separation from Service







	 	 	XX   	(a)  	A lump sum in cash as soon as practicable following the date of the Qualifying
Distribution Event. 







	 	 	         	(b)  	Approximately equal annual installments over a term certain as elected by the
Participant upon his entry into the Plan not to exceed _____ years. 








	 	 	         	(c)  	Other: _______________________________________________.








	 	 	2.	Death 








	 	 	XX   	(a)  	A lump sum in cash as soon as practicable following the date of the Qualifying
Distribution Event. 






	 	 	         	(b)  	Approximately equal annual installments over a term certain as elected by the
Participant upon his entry into the Plan not to exceed _____ years. 







	 	 	         	(c)  	Other: _______________________________________________.








	 	 	3.	Disability






	 	 	XX   	(a)  	A lump sum in cash as soon as practicable following the date of the
Qualifying Distribution Event. 






	 	 	         	(b)  	Approximately equal annual installments over a term certain as elected by the
Participant upon his entry into the Plan not to exceed _____ years. 






	 	 	         	(c)  	Other: _______________________________________________.











-8-



2










7.    Vesting: An Active Participant shall
be fully vested in the Employer Credits made to the Deferred Compensation Account upon first to occur of the following events:




	 	  XX   	(a)  	Normal Retirement Age.  




	 	  XX   	(b)  	Death.  





	 	  XX   	(c)  	Disability.  





	 	  XX   	(d)  	Change in Control.  





	 	           	(e)  	Other: _______________________________________________.  





	 	  XX   	(f)  	Satisfaction of the vesting requirement specified below: 





	 	 	  XX   	Employer Matching Credits:





	 	 	         	(i)	Immediate 100% vesting.   





	 	 	         	(ii)	100% vesting after  ____ Years of Service.    





	 	 	         	(iii)	100% vesting at age ____.    





	 	 	  XX   	(iv)	 






	 	Number of Years
of Service
		Vested
Percentage

		Less than 1		     0% 	
		1	 	   20% 	
		2	 	   40% 	
		3	 	   60% 	
		4	 	   80% 	
		5	 	 100% 	
		6	 	___%	
		7	 	___%	
		8	 	___%	
		9	 	___%	
		10	 or more	___%	






	  	For this purpose, Years of Service of a Participant shall be
calculated from the date designated below: 





	 	 	  XX    	(1)	First Day of Service.    





	 	 	            	(2)	Effective Date of the Plan Participation. 





	 	 	            	(3)	Each Crediting Date. Under this option (3), each
Employer Credit shall vest based on the Years of Service of a Participant from the Crediting Date on which each Employer Matching
Credit is made to his or her Deferred Compensation Account. Notwithstanding the vesting schedule elected above, all Employer
Matching Credits to the Deferred Compensation Account shall be 100% vested upon the following event(s): ______________________.










-9-











	 	 	  XX   	Employer Profit Sharing Credits:





	 	 	         	(i)	Immediate 100% vesting.   





	 	 	         	(ii)	100% vesting after  ____ Years of Service.    





	 	 	         	(iii)	100% vesting at age ____.    





	 	 	  XX   	(iv)	 






	 	Number of Years
of Service
		Vested
Percentage

		Less than 1		    0% 	
		1	 	  20% 	
		2	 	  40% 	
		3	 	  60% 	
		4	 	  80% 	
		5	 	100% 	
		6	 	___%	
		7	 	___%	
		8	 	___%	
		9	 	___%	
		10	 or more	___%	






	  	For this purpose, Years of Service of a Participant shall be
calculated from the date designated below: 





	 	 	  XX    	(1)	First Day of Service.    





	 	 	            	(2)	Effective Date of the Plan Participation. 





	 	 	            	(3)	Each Crediting Date. Under this option (3), each
Employer Credit shall vest based on the Years of Service of a Participant from the Crediting Date on which each Employer Profit
Sharing Credit is made to his or her Deferred Compensation Account. Notwithstanding the vesting schedule elected above, all
Employer Profit Sharing Credits to the Deferred Compensation Account shall be 100% vested upon the following event(s):
______________________. 









-10-










	 	 	         	Other Employer Credits:





	 	 	         	(i)	Immediate 100% vesting.   





	 	 	         	(ii)	100% vesting after  ____ Years of Service.    





	 	 	         	(iii)	100% vesting at age ____.    





	 	 	         	(iv)	 






	 	Number of Years
of Service
		Vested
Percentage

		Less than 1		___%	
		1	 	___%	
		2	 	___%	
		3	 	___%	
		4	 	___%	
		5	 	___%	
		6	 	___%	
		7	 	___%	
		8	 	___%	
		9	 	___%	
		10	 or more	___%	






	  	For this purpose, Years of Service of a Participant shall be
calculated from the date designated below: 





	 	 	            	(1)	First Day of Service.    





	 	 	            	(2)	Effective Date of the Plan Participation. 





	 	 	            	(3)	Each Crediting Date. Under this option (3), each
Employer Credit shall vest based on the Years of Service of a Participant from the Crediting Date on which each Employer Credit is
made to his or her Deferred Compensation Account. Notwithstanding the vesting schedule elected above, all other Employer Credits
to the Deferred Compensation Account shall be 100% vested upon the following event(s): 






14.    Amendment and Termination of Plan:
Notwithstanding any provision in this Adoption Agreement or the Plan to the contrary, Section _____ of the Plan shall be
amended to read as provided in attached Exhibit ____. 


	 	  XX   	There are no amendments to the Plan. 












-11-










	17.9	Construction: The provisions of the Plan and Trust (if any) shall be construed and
enforced according to the laws of the State of Minnesota, except to the extent that
such laws are superseded by ERISA and the applicable provisions of the Code. 






        IN
WITNESS WHEREOF, this Agreement has been executed as of the day and year first above
stated.  




	 	Department 56, Inc.
	 	Name of Employer
	 
	 	Department 56 Canada, Co.
	 	Name of Employer’
	 
	 	FL 56 Intermediate Corp.
	 	Name of Employer
	 
	 	D 56, Inc.
	 	Name of Employer
	 
	 	Department 56 Trading Co., Ltd.
	 	Name of Employer
	 
	 	D 56 Canada Holding, Inc.
	 	Name of Employer
	 
	 	Can 56, Inc.
	 	Name of Employer
	 
	 	Department 56 Sales, Inc.
	 	Name of Employer
	 
	 	Department 56 Retail, Inc.
	 	Name of Employer
	 
	 	TD 56 Holdings, Inc.
	 	Name of Employer
	 
	 	Time to Celebrate, Inc.
	 	Name of Employer
	 
	 	By:    /s/ Timothy J. Schugel        
	 	Authorized Person








NOTE: Execution of this Adoption
Agreement creates a legal liability of the Employer with significant tax consequences to
the Employer and Participants. The Employer should obtain legal and tax advice from its
professional advisors before adopting the Plan. The Provider disclaims all liability for
the legal and tax consequences which result from the elections made by the Employer in
this Adoption Agreement. 







-12-

























This page is
intentionally left blank. 
























-13-






















THE EXECUTIVE
NONQUALIFIED EXCESS PLANSM
PLAN DOCUMENT 





















		
		©
2/2005 Executive Benefit Services, Inc.
 4140 ParkLake Avenue, Suite 500 
Raleigh, NC 27612















TABLE OF CONTENTS



THE EXECUTIVE NONQUALIFIED EXCESS PLANSM 



			Page 

	Section 1.	 	Purpose:	 	1	 
	 
	Section 2.	 	Definitions:	 	1	 
	 
	          2.1	 	“Active Participant”	 	1	 
	          2.2	 	“Adoption Agreement”	 	2	 
	          2.3	 	“Beneficiary”	 	2	 
	          2.4	 	“Board”	 	2	 
	          2.5	 	“Change in Control”	 	2	 
	          2.6	 	“Committee”	 	3	 
	          2.7	 	“Compensation”	 	3	 
	          2.8	 	“Crediting Date”	 	3	 
	          2.9	 	“Deferred Compensation Account”	 	4	 
	          2.10	 	“Disabled”	 	4	 
	          2.11	 	“Education Account”	 	4	 
	          2.12	 	“Effective Date”	 	4	 
	          2.13	 	“Employee”	 	5	 
	          2.14	 	“Employer”	 	5	 
	          2.15	 	“Employer Credits”	 	5	 
	          2.16	 	“Independent Contractor”	 	5	 
	          2.17	 	“In-Service Account”	 	5	 
	          2.18	 	“Normal Retirement Age”	 	6	 
	          2.19	 	“Participant”	 	6	 
	          2.20	 	“Participating Employer”	 	6	 
	          2.21	 	“Performance-Based Compensation”	 	6	 
	          2.22	 	“Plan”	 	6	 
	          2.23	 	“Plan Administrator”	 	6	 
	          2.24	 	“Plan-Approved Domestic Relations Order”	 	6	 
	          2.25	 	“Plan Year”	 	8	 
	          2.26	 	“Provider”	 	8	 
	          2.27	 	“Qualifying Distribution Event”	 	8	 
	          2.28	 	“Salary Deferral Agreement”	 	8	 
	          2.29	 	“Salary Deferral Credits”	 	8	 
	          2.30	 	“Service”	 	9	 
	          2.31	 	“Service Bonus”	 	9	 
	          2.32	 	“Spouse” or “Surviving Spouse”	 	9	 
	          2.33	 	“Student”	 	9	 
	          2.34	 	“Trust”	 	9	 
	          2.35	 	“Trustee”	 	9	 
	          2.36	 	“Unforeseeable Emergency”	 	9	 
	          2.37	 	“Years of Service”	 	9	 







i 










			Page 

	Section 3.	 	Participation:	 	10	 
	 
	Section 4.	 	Credits to Deferred Compensation Account:	 	10	 
	 
	          4.1	 	Salary Deferral Credits	 	10	 
	          4.2	 	Employer Credits	 	11	 
	          4.3	 	Deferred Compensation Account	 	12	 
	 
	Section 5.	 	Qualifying Distribution Events:	 	12	 
	 
	          5.1	 	Separation from Service	 	12	 
	          5.2	 	Disability	 	12	 
	          5.3	 	Death	 	12	 
	          5.4	 	In-Service Distributions	 	12	 
	          5.5	 	Education Withdrawals	 	13	 
	          5.6	 	Unforeseeable Emergency	 	14	 
	 
	Section 6.	 	Qualifying Distribution Events Payment Options:	 	15	 
	 
	          6.1	 	Payment Options	 	15	 
	          6.2	 	De Minimis Amounts	 	16	 
	          6.3	 	Subsequent Elections	 	16	 
	          6.4	 	Acceleration Prohibited	 	17	 
	 
	Section 7.	 	Vesting:	 	17	 
	 
	Section 8.	 	Accounts; Deemed Investment; Adjustments to Account:	 	17	 
	 
	          8.1	 	Accounts	 	17	 
	          8.2	 	Deemed Investments	 	18	 
	          8.3	 	Adjustments to Deferred Compensation Account	 	18	 
	 
	Section 9.	 	Administration by Committee:	 	18	 
	 
	          9.1	 	Membership of Committee	 	18	 
	          9.2	 	Committee Officers; Subcommittee	 	19	 
	          9.3	 	Committee Meetings	 	19	 
	          9.4	 	Transaction of Business	 	19	 
	          9.5	 	Committee Records	 	19	 
	          9.6	 	Establishment of Rules	 	20	 
	          9.7	 	Conflicts of Interest	 	20	 
	          9.8	 	Correction of Errors	 	20	 
	          9.9	 	Authority to Interpret Plan	 	20	 
	          9.10	 	Third Party Advisors	 	20	 
	          9.11	 	Compensation of Members	 	21	 
	          9.12	 	Expense Reimbursement	 	21	 
	          9.13	 	Indemnification	 	21	 







ii 










			Page 

	Section 10.	 	Contractual Liability; Trust:	 	21	 
	 
	          10.1	 	Contractual Liability	 	21	 
	          10.2	 	Trust	 	22	 
	 
	Section 11.	 	Allocation of Responsibilities:	 	22	 
	 
	          11.1	 	Board	 	22	 
	          11.2	 	Committee	 	22	 
	          11.3	 	Plan Administrator	 	23	 
	 
	Section 12.	 	Benefits Not Assignable; Facility of Payments:	 	23	 
	 
	          12.1	 	Benefits not Assignable	 	23	 
	          12.2	 	Plan-Approved Domestic Relations Orders	 	23	 
	          12.3	 	Payments to Minors and Others	 	24	 
	 
	Section 13.	 	Beneficiary:	 	24	 
	 
	Section 14.	 	Amendment and Termination of Plan:	 	25	 
	 
	          14.1	 	Termination Upon Change in Control	 	25	 
	          14.2	 	Termination On or Before December 31, 2005	 	26	 
	          14.3	 	No Financial Triggers	 	26	 
	 
	Section 15.	 	Communication to Participants:	 	26	 
	 
	Section 16.	 	Claims Procedure:	 	26	 
	 
	          16.1	 	Filing of a Claim for Benefits	 	26	 
	          16.2	 	Notification to Claimant of Decision	 	26	 
	          16.3	 	Procedure for Review	 	27	 
	          16.4	 	Decision on Review	 	27	 
	          16.5	 	Action by Authorized Representative of Claimant	 	28	 
	 
	Section 17.	 	Miscellaneous Provisions:	 	28	 
	 
	          17.1	 	Set off	 	28	 
	          17.2	 	Notices	 	28	 
	          17.3	 	Lost Distributees	 	29	 
	          17.4	 	Reliance on Data	 	29	 
	          17.5	 	Receipt and Release for Payments	 	29	 
	          17.6	 	Headings	 	29	 
	          17.7	 	Continuation of Employment	 	30	 
	          17.8	 	Merger or Consolidation; Assumption of Plan	 	30	 
	          17.9	 	Construction	 	30	 







iii 













THE EXECUTIVE NONQUALIFIED
EXCESS PLANSM 




     
       Section 1.    Purpose: 



        
     By
execution of the Adoption Agreement, the Employer has adopted the Plan set forth herein
to provide a means by which certain management Employees and Independent Contractors of
the Employer may elect to defer receipt of current Compensation from the Employer in
order to provide retirement and other benefits on behalf of such Employees and
Independent Contractors of the Employer, as selected in the Adoption Agreement. The Plan
is intended to be a nonqualified deferred compensation plan that complies with the
provisions of Section 409A of the Internal Revenue Code (the “Code”). The
Plan is intended to be an unfunded plan maintained primarily for the purpose of providing
deferred compensation benefits for a select group of management or highly compensated
employees under Sections 201(2), 301(a)(3) and 401(a)(1) of the Employee Retirement
Income Security Act of 1974 and independent contractors.  



     
       
Section 2.    Definitions:  



             As
used in the Plan, including this Section 2, references to one gender shall include
the other and, unless otherwise indicated by the context: 



	  	2.1 	  	“Active
Participant” means, with respect to any day or date, a Participant who is in
Service on such day or date; provided, that a Participant shall cease to be an Active
Participant immediately upon a determination by the Committee that the Participant has
ceased to be an Employee or Independent Contractor, or that the Participant no longer
meets the eligibility requirements of the Plan.  

















	  	2.2	“Adoption
Agreement” means the written agreement pursuant to which the Employer adopts the
Plan. The Adoption Agreement is a part of the Plan as applied to the Employer. 






	  	2.3	“Beneficiary” means the person, persons, entity or entities designated or
determined pursuant to the provisions of Section 13 of the Plan. 






	  	2.4	“Board”
means  the  Board  of  Directors  of the  Employer,  if the  Employer  is a  corporation.  If the  Employer  is not a
corporation, "Board" shall mean the Employer.






	  	2.5	“Change in Control”
of a corporation shall occur on the earliest of the following events: 





	  	2.51	
Change in Ownership: A change in ownership of a corporation occurs on the date that any
one person, or more than one person acting as a group, acquires ownership of stock of the
corporation that, together with stock held by such person or group, constitutes more than
50% of the total fair market value or total voting power of the stock of the corporation,
excluding the acquisition of additional stock by a person or more than one person acting
as a group who is considered to own more than 50% of the total fair market value or total
voting power of the stock of the corporation. 






	  	2.52	Change in Effective Control:
 A change in effective control of a corporation occurs on the date that either:






	  	  	(i)  	  	Any
one person, or more than one person acting as a group, acquires (or has acquired during
the 12-month period ending on the date of the most recent acquisition by such person or
persons) ownership of stock of the corporation possessing 35% or more of the total voting
power of the stock of the corporation; or  






	  	  	(ii)  	  	A
majority of the members of the board of directors of the corporation is
replaced during any 12-month period by directors whose appointment or
election is not endorsed by a majority of the members of the board of
directors prior to the date of the appointment or election; provided, that
this paragraph (ii) shall apply only to a corporation for which no other
corporation is a majority  shareholder.  






	  	2.53	
Change in Ownership of Substantial Assets: A change in the ownership of a substantial
portion of a corporation’s assets occurs on the date that any one person, or more
than one person acting as a group, acquires (or has acquired during the 12-month period
ending on the date of the most recent 






2








	  		acquisition  by such person or persons)
assets from the corporation that have a total gross fair market value equal to or more than 40% of the total gross
fair market value of the assets of the corporation immediately prior to such acquisition
or acquisitions. For this purpose, gross fair market value means the value of the assets
of the corporation, or the value of the assets being disposed of, determined without
regard to any liabilities associated with such assets. 






For this purpose, the Change in
Control must relate to (i) a corporation that is the Employer of the Participant; (ii) a
corporation that is liable for the payment of benefits under this Plan; (iii) a
corporation that is a majority shareholder of the corporation described in (i) or (ii); or
(iv) any corporation in a chain of corporations in which each corporation is a majority
shareholder of another corporation in the chain, ending with the corporation described in
(i) or (ii). A Change in Control shall not be deemed to have occurred until a majority of
the members of the Board receive written certification from the Committee that one of the
events set forth in this Section 2.5 has occurred. The occurrence of an event described in
this Section 2.5 must be objectively determinable by the Committee and, if made in good
faith on the basis of information available at the time, such determination shall be
conclusive and binding on the Committee, the Employer, the Participants and their
Beneficiaries for all purposes of the Plan. 



	  	2.6 	
“Committee” means the person designated in the Adoption Agreement. If the
Committee designated in the Adoption Agreement is unable to serve, the Employer shall
satisfy the duties of the Committee provided for in Section 9.






	  	2.7 	"Compensation" shall have
 the meaning designated in the Adoption Agreement.






	  	2.8 	 “Crediting
Date” means the date designated in the Adoption Agreement for crediting the
amount of any Salary Deferral Credits to the Deferred Compensation Account of a
Participant. Employer Credits may be credited to the Deferred Compensation Account of a
Participant on any day that securities are traded on a national securities exchange.







3







	  	2.9 	“Deferred
Compensation Account” means the account maintained with respect to each
Participant under the Plan. The Deferred Compensation Account shall be credited with
Salary Deferral Credits and Employer Credits, credited or debited for deemed investment
gains or losses, and adjusted for payments in accordance with the rules and elections in
effect under Section 8. The Deferred Compensation Account of a Participant shall include
any In-Service Account or Education Account of the Participant, if applicable. 






	  	2.10 	
“Disabled” means a Participant who is unable to engage in any substantial
gainful activity by reason of any medically determinable physical or mental impairment
which can be expected to result in death or can be expected to last for a continuous
period of not less than 12 months, or is, by reason of any medically determinable physical
or mental impairment which can be expected to result in death or can be expected to last
for a continuous period of not less than 12 months, receiving income replacement benefits
for a period of not less than three months under an accident and health plan covering
Employees of the Employer. 







	  	2.11 	 “Education
Account” means a separate account to be kept for each Participant that has
elected to take education distributions as described in Section 5.5. The Education
Account shall be adjusted in the same manner and at the same time as the Deferred
Compensation Account under Section 8 and in accordance with the rules and elections in
effect under Section 8. 






	  	2.12 	 “Effective
Date” shall be the date designated in the Adoption Agreement as of which the Plan
first becomes effective. Notwithstanding the foregoing, any amounts credited to the
account of a Participant pursuant to the terms of a predecessor plan of the Employer which
are not earned and vested before January 1, 2005, shall be subject to the terms of this
Plan. 









4







	  	2.13	
“Employee” means an individual in the Service of the Employer if the
relationship between the individual and the Employer is the legal relationship of employer
and employee and if the individual is a highly compensated or management employee of the
Employer. An individual shall cease to be an Employee upon the Employee’s termination
of Service. 







	  	2.14	
“Employer” means the Employer identified in the Adoption Agreement, and
any Participating Employer which adopts this Plan. The Employer may be a corporation, a
limited liability company, a partnership or sole proprietorship. All references herein to
the Employer shall include each trade or business (whether or not incorporated) that is
required to be aggregated with the Employer under rules similar to subsections (b) and (c)
of Section 414 of the Code.  







	  	2.15	 “Employer
Credits” means the amounts credited to the Participant’s Deferred
Compensation Account by the Employer pursuant to the provisions of Section 4.2. 






	  	2.16	 “Independent
Contractor” means an individual in the Service of the Employer if the
relationship between the individual and the Employer is not the legal relationship of
employer and employee. An individual shall cease to be an Independent Contractor upon the
termination of the Independent Contractor’s Service. An Independent Contractor shall
include a director of the Employer who is not an Employee. 







	  	2.17	 “In-Service
Account” means a separate account to be kept for each Participant that has
elected to take in-service distributions as described in Section 5.4. The In-Service
Account shall be adjusted in the same manner and at the same time as the Deferred
Compensation Account under Section 8 and in accordance with the rules and elections in
effect under Section 8. 








5







	  	2.18	
"Normal Retirement Age" of a Participant means the age designated in the Adoption Agreement.






	  	2.19	
“Participant” means with respect to any Plan Year an Employee or
Independent Contractor who has been designated by the Committee as a Participant and who
has entered the Plan or who has a Deferred Compensation Account under the Plan. 






	  	2.20	 “Participating
Employer” means any trade or business (whether or not incorporated) which adopts
this Plan with the consent of the Employer identified in the Adoption Agreement. 






	  	2.21	
“Performance-Based Compensation” means any compensation based on services
performed over a period of at least twelve months as provided in regulations and
administrative guidance promulgated under Section 409A of the Code. 





	  	2.22	 “Plan”
means The Executive Nonqualified Excess PlanTM, as herein set out or as duly amended.
The name of the Plan as applied to the Employer shall be designated in the Adoption
Agreement. 






	  	2.23	 “Plan
Administrator” means the person designated in the Adoption Agreement. If the Plan
Administrator designated in the Adoption Agreement is unable to serve, the Employer shall
be the Plan Administrator. 






	  	2.24	 “Plan-Approved
Domestic Relations Order” shall mean a court order that is lawfully directed to
this Plan and that is served upon the Plan Administrator before the Participant receives a
distribution of his benefit that pursuant to a state domestic relations law creates or
recognizes the existence of the right of an alternate payee to receive all or a portion of
a Participant’s benefit and that meets all of the following requirements. An order
shall not be a Plan-Approved Domestic Relations Order unless the Plan Administrator
determines that the court order on its face and without reference to any other document
states all of the following: 







6







	  	  	(a)  	  	The
court order expressly states that it relates to the provision of child support, alimony,
or marital property rights to a spouse, former spouse, or child of a Participant and is
made pursuant to State domestic relations law. 






	  	  	(b)  	  	The
court order clearly and unambiguously specifies that it refers to this Plan.  






	  	  	(c)  	  	The
court order clearly and unambiguously specifies the name of the Participant’s
Employer.  






	  	  	(d)  	  	The
court order clearly specifies:  the name, mailing address, and social security
number of the Participant; and the name, mailing address, and social security number of
each alternate payee.  






	  	  	(e)  	  	The
court order clearly specifies the amount or percentage, or the manner in which the amount
or percentage is to be determined, of the Participant’s benefit to be paid to or
segregated for the separate account of the alternate payee.  






	  	  	(f)  	  	The
court order expressly states that the alternate payee’s segregated account shall
bear all fees and expenses as though the alternate payee were a Participant.  






	  	  	(g)  	  	The
court order clearly specifies that any distribution to the alternate payee becomes
payable only after a Qualifying Distribution Event of the Participant and only upon the
alternate payee’s written claim made to the Administrator.  






	  	  	(h)  	  	The
court order clearly specifies that any distribution to any alternate payee shall be
payable only as a lump sum.  






	  	  	(i)  	  	The
court order expressly states that it does not require this Plan to provide any type or
form of benefit or any option not otherwise provided under this Plan.  






	  	  	(j)  	  	The
court order expressly states that the order does not require this Plan to provide
increased benefits.  






	  	  	(k)  	  	The
court order expressly states that any provision of it that would have the effect of
requiring any distribution to an alternate payee of deferred compensation that is
required to be paid to another person under any court order is void.  






	  	  	(l)  	  	The
court order expressly states that nothing in the order shall have any effect concerning
any party’s tax treatment, and that nothing in the order shall direct any person’s
tax reporting or withholding.  






An order shall not be a
 Plan-approved  Domestics Relations Order if it  includes 




7









any  provision  that does not relate to this Plan. Without limiting the comprehensive
effect of the preceding sentence, an order shall not be a Plan-Approved Domestic Relations
Order if the order includes any provision relating to any pension plan, retirement plan,
deferred compensation plan, health plan, welfare benefit plan, or employee benefit plan
other than this Plan. An order shall not be a Plan-Approved Domestic Relations Order
unless the order provides for only one alternate payee. An order shall not be a
Plan-Approved Domestic Relations Order if the order includes any provision that would
permit the alternate payee to designate any beneficiary for any purpose. However, an order
does not fail to qualify as a Plan-approved Domestic Relations Order because it provides
that any rights not paid before the alternate payee’s death shall be payable to the
duly appointed and then-currently serving personal representative of the alternate
payee’s estate. The Plan Administrator may assume that the alternate payee named by
the court order is a proper payee and need not inquire into whether the person named is a
spouse or former spouse or child of the Participant. 



	  	2.25	 “Plan
Year” means the twelve-month period ending on the last day of the month
designated in the Adoption Agreement; provided, that the initial Plan Year may have fewer
than twelve months. 







	  	2.26	 “Provider”
means Executive Benefit Services, Inc. 






	  	2.27	 “Qualifying
Distribution Event” means (i) the separation from Service of the Participant,
(ii) the date the Participant becomes Disabled, (iii) the death of the Participant, (iv)
the time specified by the Participant for an in-service or education distribution, or (v)
an Unforeseeable Emergency, each to the extent provided in Section 5. 





	  	2.28	  “Salary Deferral
Agreement” means a written agreement entered into between a Participant and the
Employer pursuant to the provisions of Section 4.1 






	  	2.29	 “Salary Deferral
Credits” means the amounts credited to the Participant’s Deferred
Compensation Account by the Employer pursuant to the provisions of Section 4.1. 






8







	  	2.30	 
“Service” means employment by the Employer as an Employee. If the
Participant is an Independent Contractor, “Service” shall mean the period during
which the contractual relationship exists between the Employer and the Participant. 





	  	2.31	 "Service Bonus" means
any bonus paid to a Participant by the Employer which is not Performance-Based Compensation. 






	  	2.32	  “Spouse”
or “Surviving Spouse” means, except as otherwise provided in the Plan, a
person who is the legally married spouse or surviving spouse of a Participant. 






	  	2.33	 
“Student” means the individual designated by the Participant in the
Salary Deferral Agreement with respect to whom the Participant will create an Education
Account.






	  	2.34	  “Trust”
means the trust fund established pursuant to Section 10.2, if designated by the Employer
in the Adoption Agreement.






	  	2.35	 
“Trustee” means the trustee, if any, named in the agreement establishing
the Trust and such successor or additional trustee as may be named pursuant to the terms
of the agreement establishing the Trust. 






	  	2.36	  “Unforeseeable
Emergency” means a severe financial hardship to the Participant resulting from a
sudden or unexpected illness or accident of the Participant, the Participant’s Spouse
or dependent (as defined in Section 152(a) of the Code), loss of the Participant’s
property due to casualty, or other similar extraordinary and unforeseeable circumstances
arising as a result of events beyond the control of the Participant. 






	  	2.37	  “Years of
Service” means each Plan Year of Service completed by the Participant. For
vesting purposes, Years of Service shall be calculated from the date designated in the
Adoption Agreement. 






9








        
       Section 3.    Participation: 




            
  The
Committee in its discretion shall designate each Employee or Independent Contractor who is
eligible to participate in the Plan. An Employee or Independent Contractor designated by
the Committee as a Participant who has not otherwise entered the Plan shall enter the Plan
and become a Participant as of the date determined by the Committee. A Participant who
separates from Service with the Employer and who later returns to Service will not be an
Active Participant under the Plan except upon satisfaction of such terms and conditions as
the Committee shall establish upon the Participant’s return to Service, whether or
not the Participant shall have a balance remaining in the Deferred Compensation Account
under the Plan on the date of the return to Service. 




        
       Section 4.    Credits to
Deferred Compensation Account: 




	  	4.1	 Salary Deferral
Credits.  To the extent provided in the Adoption Agreement, each Active
Participant may elect, by entering into a Salary Deferral Agreement with the Employer, to
defer the receipt of Compensation from the Employer by a dollar amount or percentage
specified in the Salary Deferral Agreement. The amount of the Participant’s Salary
Deferral Credit shall be credited by the Employer to the Deferred Compensation Account
maintained for the Participant pursuant to Section 8. The following special
provisions shall apply with respect to the Salary Deferral Credits of a Participant: 






	  	4.1.1	 
The Employer shall credit to the Participant’s Deferred Compensation Account on each
Crediting Date an amount equal to the total Salary Deferral Credit for the period ending
on such Crediting Date. 






	  	4.1.2	 
An election pursuant to Section 4.1 shall be made by the Participant by executing and
delivering a Salary Deferral Agreement to the Committee. The Salary Deferral Agreement
shall become effective with respect to such Participant as of the first day of January
following the date such Salary Deferral Agreement is received by the Committee; provided,
that in the case of the first year in which the Participant becomes eligible to
participate in the Plan, the Participant may execute and deliver a Salary Deferral
Agreement to the 






10








	  		 Committee  within 30 days after the date the
 Participant enters the Plan to be effective as of the first payroll period next following the date the Salary
Deferral Agreement is received by the Committee. A Participant’s election shall
continue in effect, unless earlier modified by the Participant, until the Participant
separates from Service, or, if earlier, until the Participant ceases to be an Active
Participant under the Plan. 






	  	4.1.3	 
A Participant may unilaterally modify a Salary Deferral Agreement (either to terminate,
increase or decrease the portion of his future Compensation which is subject to salary
deferral within the percentage limits set forth in Section 4.1 of the Adoption
Agreement) by providing a written modification of the Salary Deferral Agreement to the
Employer. The modification shall become effective as of the first day of January following
the date such written modification is received by the Committee. Notwithstanding the
foregoing, at any time during the calendar year 2005, a Participant may terminate a Salary
Deferral Agreement, or modify a Salary Deferral Agreement to reduce the amount of
Compensation subject to the deferral election, so long as the Compensation subject to the
terminated or modified Salary Deferral Agreement is includible in the income of the
Participant in calendar year 2005 or, if later, in the taxable year in which the amounts
are earned and vested. 






	  	4.1.4	 
Notwithstanding Sections 4.1.2 and 4.1.3, a Salary Deferral Agreement relating to the
deferral of Performance-Based Compensation must be executed and delivered to the Committee
no later than the date which is 6 months prior to the end of the performance period, and
may not be modified after such date. 






	  	4.1.5	 
The Committee may from time to time establish policies or rules consistent with the
requirements of Section 409A of the Code to govern the manner in which Salary Deferral
Credits may be made. 






	  	4.1.6	 
The requirements of Section 4.1.2 relating to the timing of the Salary Deferral Agreement
shall not apply to any deferral elections made on or before March 15, 2005, provided that
(a) the amounts to which the deferral election relate have not been paid or become payable
at the time of the election, (b) the Plan was in existence on or before December 31, 2004,
(c) the election to defer compensation is made in accordance with the terms of the Plan as
in effect on December 31, 2005 (other than a requirement to make a deferral election after
March 15, 2005), (d) the Plan is otherwise operated in accordance with the requirements of
Section 409A of the Code, and (e) the Plan is amended to comply with Section 409A in
accordance with Q&A 19 of Notice 2005-1. 






	  	4.2 	 Employer Credits.
  If designated by the Employer in the Adoption Agreement, the Employer shall cause the Committee to credit
to the Deferred
Compensation 









 



11







	  		  Account of each Active Participant an
Employer Credit as determined in accordance with the Adoption Agreement. 






	  	4.3	   Deferred Compensation
Account.  All Salary Deferral Credits and Employer Credits shall be credited
to the Deferred Compensation Account of the Participant. 







        
       Section 5.    Qualifying
Distribution Events: 




	  	5.1	 Separation from
Service. If the Participant separates from Service with the Employer, the vested
balance in the Deferred Compensation Account shall be paid to the Participant by the
Employer as provided in Section 6. Notwithstanding the foregoing, no distribution
shall be made earlier than six months after the date of separation from Service (or, if
earlier, the date of death) with respect to a Participant who is a key employee (as
defined in Section 416(i) of the Code without regard to paragraph (5) thereof) of a
corporation the stock in which is traded on an established securities market or otherwise. 







	  	5.2	 Disability. If the
Participant becomes Disabled while in Service, the vested balance in the Deferred
Compensation Account shall be paid to the Participant by the Employer as provided in
Section 6. 







	  	5.3	  Death. If the
Participant dies while in Service, the Employer shall pay a benefit to the
Participant’s Beneficiary in the amount designated in the Adoption Agreement. Payment
of such benefit shall be made by the Employer as provided in Section 6. If a
Participant dies following his separation from Service for any reason, and before all
payments under the Plan have been made, the vested balance in the Deferred Compensation
Account shall be paid by the Employer to the Participant’s Beneficiary pursuant to
Section 6. 







	  	5.4	  In-Service
Distributions. If the Employer designates in the Adoption Agreement that in-service
distributions are permitted under the Plan, a Participant may designate in the Salary
Deferral Agreement to have a specified amount credited to the Participant’s In- 







12







	  		 Service Account for in-service
distributions at the later of the date specified by the Participant or as specified in the
Adoption Agreement. In no event may an in-service distribution be made prior to two years
following the establishment of the In-Service Account of the Participant. If the
Participant elects to receive in-service distributions in annual installment payments, the
payment of each annual installment shall be made on the anniversary of the date of the
first installment payment, and the amount of the annual installment shall be adjusted on
such anniversary for credits or debits to the Participant’s account pursuant to
Section 8 of the Plan. Such adjustment shall be made by dividing the balance in the
In-Service Account on such date by the number of annual installments remaining to be paid
hereunder; provided that the last annual installment due under the Plan shall be the
entire amount credited to the Participant’s In-Service Account on the date of
payment. Notwithstanding the foregoing, if a Participant incurs a Qualifying Distribution
Event prior to the date on which the entire balance in the In-Service Account has been
distributed, then the balance in the In-Service Account on the date of the Qualifying
Distribution Event shall be distributed to the Participant in the same manner and at the
same time as the balance in the Deferred Compensation Account is distributed under Section
6 and in accordance with the rules and elections in effect under Section 6. 







	  	5.5	 Education
Withdrawals.  If the Employer designates in the Adoption Agreement that
education distributions are permitted under the Plan, a Participant may designate in the
Salary Deferral Agreement to have a specified amount credited to the Participant’s
Education Account for education distributions at the later of the date specified by the
Participant or the date specified in the Adoption Agreement. If the Participant designates
more than one Student, the Education Account will be divided into a separate Education
Account for each Student, and the Participant may designate in the Salary Deferral
Agreement the percentage or dollar amount to be credited to each Education Account. In the
absence of a clear designation, 






13








	  		 all credits made to the Education  Account
shall be equally allocated to each
Education Account. The Employer shall pay to the Participant the balance in the Education
Account with respect to the Student at the time and in the manner designated by the
Participant in the Salary Deferral Agreement. If the Participant elects to receive
education distributions in annual installment payments, the payment of each annual
installment shall be made on the anniversary of the date of the first installment payment,
and the amount of the annual installment shall be adjusted on such anniversary for credits
or debits to the Participant’s Education Account pursuant to Section 8 of the Plan.
Such adjustment shall be made by dividing the balance in the Education Account on such
date by the number of annual installments remaining to be paid hereunder; provided that
the last annual installment due under the Plan shall be the entire amount credited to the
Participant’s Education Account on the date of payment. Notwithstanding the
foregoing, if the Participant incurs a Qualifying Distribution Event prior to the date on
which the entire balance of the Education Account has been distributed, then the balance
in the Education Account on the date of the Qualifying Distribution Event shall be
distributed to the Participant in the same manner and at the same time as the Deferred
Compensation Account is distributed under Section 6 and in accordance with the rules and
elections in effect under Section 6. 






	  	5.6	 Unforeseeable
Emergency.  A distribution from the Deferred Compensation Account may be
made to a Participant in the event of an Unforeseeable Emergency, subject to the following
provisions:





	  	5.6.1	 
A Participant may, at any time prior to his separation from Service for any reason, make
application to the Committee to receive a distribution in a lump sum of all or a portion
of the vested balance in the Deferred Compensation Account (determined as of the date the
distribution, if any, is made under this Section 5.6) because of an Unforeseeable
Emergency. A distribution because of an Unforeseeable Emergency shall not exceed the
amount required to satisfy the Unforeseeable Emergency plus amounts necessary to pay taxes
reasonably anticipated as a result of such distribution, after taking into account the
extent to which the Unforeseeable Emergency may be relieved through reimbursement or 






14







	  		 
compensation by insurance or otherwise or by liquidation of the Participant’s assets (to the
extend the liquidation of such assets would not itself cause severe financial hardship). 






	  	5.6.2	 
The Participant’s request for a distribution on account of Unforeseeable Emergency
must be made in writing to the Committee. The request must specify the nature of the
financial hardship, the total amount requested to be distributed from the Deferred
Compensation Account, and the total amount of the actual expense incurred or to be
incurred on account of the Unforeseeable Emergency. 






	  	5.6.3	 
If a distribution under this Section 5.6 is approved by the Committee, such distribution
will be made as soon as practicable following the date it is approved. The processing of
the request shall be completed as soon as practicable from the date on which the Committee
receives the properly completed written request for a distribution on account of an
Unforeseeable Emergency. A distribution due to Unforeseeable Emergency shall not affect
any deferral election previously made by the Participant. If a Participant’s
separation from Service occurs after a request is approved in accordance with this Section
5.6.3, but prior to distribution of the full amount approved, the approval of the request
shall be automatically null and void and the benefits which the Participant is entitled to
receive under the Plan shall be distributed in accordance with the applicable distribution
provisions of the Plan. 






	  	5.6.4	 
The Committee may from time to time adopt additional policies or rules consistent with the
requirements of Section 409A of the Code to govern the manner in which such distributions
may be made so that the Plan may be conveniently administered. 







        
       Section 6.    Qualifying
Distribution Events Payment Options: 



	  	6.1	 Payment
Options.  The Employer shall designate in the Adoption Agreement the payment
options which may be elected by the Participant. The Participant shall elect in the Salary
Deferral Agreement the method under which the vested balance in the Deferred Compensation
Account will be distributed from among the designated payment options. Payment shall be
made in the manner elected by the Participant and shall commence as soon as practicable
following the Qualifying Distribution Event. The Participant may elect a different method
of payment for each Qualifying Distribution Event as specified in the Adoption Agreement.
If the Participant elects the installment payment option, the payment of each annual 





15








	  	    	  	installment shall
be made on the anniversary of the date of the first installment payment, and the amount
of the annual installment shall be adjusted on such anniversary for credits or debits to
the Participant’s account pursuant to Section 8 of the Plan. Such adjustment shall
be made by dividing the balance in the Deferred Compensation Account on such date by the
number of annual installments remaining to be paid hereunder; provided that the last
annual installment due under the Plan shall be the entire amount credited to the
Participant’s account on the date of payment. In the event the Participant fails to
make a valid election of the payment method, the distribution will be made in a single
lump sum payment upon the Qualifying Distribution Event. Notwithstanding the provisions
of Sections 6.3 or 6.4 of the Plan, a Participant may elect on or before December 31,
2005, the method of payment of amounts deferred prior to the date of such election.  






	  	6.2 	  	De
Minimis Amounts.  Notwithstanding any payment election made by the
Participant, the vested balance in the Deferred Compensation Account of the Participant
will be distributed in a single lump sum payment if the payment accompanies the
termination of the Participant’s entire interest in the Plan and the amount of such
payment does not exceed $10,000. Such payment shall be made or before the later of (i)
December 31 of the calendar year in which the Participant separates from Service from the
Employer, or (ii) the date that is 2-1/2 months after the Participant separates from
Service from the Employer.  






	  	6.3 	  	Subsequent
Elections.  With the consent of the Committee, a Participant may delay or
change the method of payment of the Deferred Compensation Account subject to the
following requirements:  






	  	6.3.1  	  	The
new election may not take effect until at least 12 months after the date on which the new
election is made.  






	  	6.3.2  	  	If
the new election  relates to a payment for a Qualifying  Distribution  Event other than
the death of the Participant,  the Participant  






16







	  	   	  	becoming Disabled,
or an Unforeseeable Emergency, the new election must provide for the deferral of the
first payment for a period of at least five years from the date such payment would
otherwise have been made.  






	  	6.3.3 	  	If
the new election relates to a payment from the In-Service Account or Education Account,
the new election must be made at least 12 months prior to the date of the first scheduled
payment from such account.  






	  	6.4  	  	Acceleration
Prohibited.  The acceleration of the time or schedule of any payment due
under the Plan is prohibited except as provided in regulations and administrative
guidance promulgated under Section 409A of the Code. It is not an acceleration of the
time or schedule of payment if the Employer waives or accelerates the vesting
requirements applicable to a benefit under the Plan.  







        Section
7.    Vesting: 



        A
Participant shall be fully vested in the portion of his Deferred Compensation Account
attributable to Salary Deferral Credits, and all income, gains and losses attributable
thereto. A Participant shall become fully vested in the portion of his Deferred
Compensation Account attributable to Employer Credits, and income, gains and losses
attributable thereto, in accordance with the vesting schedule and provisions designated
by the Employer in the Adoption Agreement. If a Participant’s Deferred Compensation
Account is not fully vested upon separation from Service, the portion of the Deferred
Compensation Account that is not fully vested shall thereupon be forfeited.  




        Section
8.    Accounts; Deemed Investment; Adjustments to Account: 



	  	8.1 	  	Accounts.  The
Committee shall establish a book reserve account, entitled the “Deferred
Compensation Account,” on behalf of each Participant. The Committee shall also
establish an In-Service Account and Education Account as a part of the Deferred
Compensation Account of each Participant, if applicable. The amount credited to the
Deferred Compensation Account shall be adjusted pursuant to the provisions of Section 8.3.  






17







	  	8.2  	  	Deemed
Investments.  The Deferred Compensation Account of a Participant shall be
credited with an investment return determined as if the account were invested in one or
more investment funds made available by the Committee. The Participant shall elect the
investment funds in which his Deferred Compensation Account shall be deemed to be
invested. Such election shall be made in the manner prescribed by the Committee and shall
take effect upon the entry of the Participant into the Plan. The investment election of
the Participant shall remain in effect until a new election is made by the Participant.
In the event the Participant fails for any reason to make an effective election of the
investment return to be credited to his account, the investment return shall be
determined by the Committee.  






	  	8.3 	  	Adjustments
to Deferred Compensation Account.  With respect to each Participant who has
a Deferred Compensation Account under the Plan, the amount credited to such account shall
be adjusted by the following debits and credits, at the times and in the order stated:  






	  	8.3.1  	  	The
Deferred Compensation Account shall be debited each business day with the total amount of
any payments made from such account since the last preceding business day to him or for
his benefit.  






	  	8.3.2  	  	The
Deferred Compensation Account shall be credited on each Crediting Date with the total
amount of any Salary Deferral Credits and Employer Credits to such account since the last
preceding Crediting Date.  






	  	8.3.3  	  	The
Deferred Compensation Account shall be credited or debited on each day securities are
traded on a national stock exchange with the amount of deemed investment gain or loss
resulting from the performance of the investment funds elected by the Participant in
accordance with Section 8.2. The amount of such deemed investment gain or loss shall be
determined by the Committee and such determination shall be final and conclusive upon all
concerned.  







        Section
9.     Administration by Committee:  



	  	9.1  	  	Membership
of Committee.   If elected in the Adoption Agreement, the Committee shall consist of
at least three individuals who shall be appointed by the Board to serve  






18







	  	    	  	at the
 pleasure  of the  Board.  Any  member  of the  Committee  may  resign,  and his
successor, if any, shall be appointed by the Board. The Committee shall be responsible
for the general administration and interpretation of the Plan and for carrying out its
provisions, except to the extent all or any of such obligations are specifically imposed
on the Board.  






	  	9.2  	  	Committee
Officers; Subcommittee.  The members of the Committee may elect Chairman
and may elect an acting Chairman. They may also elect a Secretary and may elect an acting
Secretary, either of whom may be but need not be a member of the Committee. The Committee
may appoint from its membership such subcommittees with such powers as the Committee
shall determine, and may authorize one or more of its members or any agent to execute or
deliver any instruments or to make any payment on behalf of the Committee.  






	  	9.3  	  	Committee
Meetings.  The Committee shall hold such meetings upon such notice, at such
places and at such intervals as it may from time to time determine. Notice of meetings
shall not be required if notice is waived in writing by all the members of the Committee
at the time in office, or if all such members are present at the meeting.  






	  	9.4  	  	Transaction
of Business.  A majority of the members of the Committee at the time in
office shall constitute a quorum for the transaction of business. All resolutions or
other actions taken by the Committee at any meeting shall be by vote of a majority of
those present at any such meeting and entitled to vote. Resolutions may be adopted or
other action taken without a meeting upon written consent thereto signed by all of the
members of the Committee.  






	  	9.5  	  	Committee
Records.  The Committee shall maintain full and complete records of its
deliberations and decisions. The minutes of its proceedings shall be conclusive proof of
the facts of the operation of the Plan.  






19







	  	9.6 	  	Establishment
of Rules.  Subject to the limitations of the Plan, the Committee may from
time to time establish rules or by-laws for the administration of the Plan and the
transaction of its business.  






	  	9.7 	  	Conflicts
of Interest.  No individual member of the Committee shall have any right to
vote or decide upon any matter relating solely to himself or to any of his rights or
benefits under the Plan (except that such member may sign unanimous written consent to
resolutions adopted or other action taken without a meeting), except relating to the
terms of his Salary Deferral Agreement.  






	  	9.8 	  	Correction
of Errors.  The Committee may correct errors and, so far as practicable,
may adjust any benefit or credit or payment accordingly. The Committee may in its
discretion waive any notice requirements in the Plan; provided, that a waiver of notice
in one or more cases shall not be deemed to constitute a waiver of notice in any other
case. With respect to any power or authority which the Committee has discretion to
exercise under the Plan, such discretion shall be exercised in a nondiscriminatory
manner.  






	  	9.9 	  	Authority
to Interpret Plan.  Subject to the claims procedure set forth in Section 16
the Plan Administrator and the Committee shall have the duty and discretionary authority
to interpret and construe the provisions of the Plan and to decide any dispute which may
arise regarding the rights of Participants hereunder, including the discretionary
authority to construe the Plan and to make determinations as to eligibility and benefits
under the Plan. Determinations by the Plan Administrator and the Committee shall apply
uniformly to all persons similarly situated and shall be binding and conclusive upon all
interested persons.  






	  	9.10 	  	Third
Party Advisors.  The Committee may engage an attorney, accountant, actuary
or any other technical advisor on matters regarding the operation of the Plan and to
perform such other duties as shall be required in connection therewith, and may employ  






20







	  	  	  	such clerical
and related personnel as the Committee shall deem requisite or desirable in carrying out
the provisions of the Plan. The Committee shall from time to time, but no less frequently
than annually, review the financial condition of the Plan and determine the financial and
liquidity needs of the Plan. The Committee shall communicate such needs to the Employer
so that its policies may be appropriately coordinated to meet such needs.  






	  	9.11  	  	Compensation
of Members.  No fee or compensation shall be paid to any member of the Committee for his
Service as such.  






	  	9.12 	  	Expense
Reimbursement.  The Committee shall be entitled to reimbursement by the
Employer for its reasonable expenses properly and actually incurred in the performance of
its duties in the administration of the Plan.  






	  	9.13 	  	Indemnification.  No
member of the Committee shall be personally liable by reason of any contract or other
instrument executed by him or on his behalf as a member of the Committee nor for any
mistake of judgment made in good faith, and the Employer shall indemnify and hold
harmless, directly from its own assets (including the proceeds of any insurance policy
the premiums for which are paid from the Employer’s own assets), each member of the
Committee and each other officer, employee, or director of the Employer to whom any duty
or power relating to the administration or interpretation of the Plan may be delegated or
allocated, against any unreimbursed or uninsured cost or expense (including any sum paid
in settlement of a claim with the prior written approval of the Board) arising out of any
act or omission to act in connection with the Plan unless arising out of such person’s
own fraud, bad faith, willful misconduct or gross negligence.  







        Section
10.     Contractual Liability; Trust:  



	  	10.1  	  	Contractual
Liability.   The obligation of the Employer to make payments hereunder shall constitute
a contractual liability of the Employer to the Participant. Such  







21







	  	   	  	payments shall
be made from the general funds of the Employer,  and the Employer  shall not be required
to establish or maintain any special or separate fund, or otherwise to segregate assets
to assure that such payments shall be made, and the Participant shall not have any
interest in any particular assets of the Employer by reason of its obligations hereunder.
To the extent that any person acquires a right to receive payment from the Employer, such
right shall be no greater than the right of an unsecured creditor of the Employer.  






	  	10.2 	  	Trust.  If
so designated in the Adoption Agreement, the Employer may establish a Trust with the
Trustee, pursuant to such terms and conditions as are set forth in the Trust Agreement.
The Trust, if and when established, is intended to be treated as a grantor trust for
purposes of the Code and all assets of the Trust shall be held in the United States. The
establishment of the Trust is not intended to cause Participants to realize current
income on amounts contributed thereto, and the Trust shall be so interpreted and
administered.  







        Section
11.     Allocation of Responsibilities:  



        The
persons responsible for the Plan and the duties and responsibilities allocated to each are
as follows: 



	  	11.1  	  	Board.  








	  	  	(i)  	  	To
amend the Plan; 






	  	  	(ii) 	  	To
appoint and remove members of the Committee; and  






	  	  	(iii) 	  	To
terminate the Plan as permitted in Section 14.  







	  	11.2  	  	Committee.  






	  	  	(i)  	  	To
designate Participants;  






	  	  	(ii)  	  	To
interpret the provisions of the Plan and to determine the rights of the
               Participants under the Plan, except to the extent otherwise provided in
               Section 16 relating to claims procedure;  






22







	  	  	(iii)  	  	To
administer the Plan in accordance with its terms, except to the extent powers
               to administer the Plan are specifically delegated to another person or
persons                as provided in the Plan;  






	  	  	(iv)  	  	To
account for the amount credited to the Deferred Compensation Account of a
               Participant; and  






	  	  	(v)  	  	To
direct the Employer in the payment of benefits.  







	  	11.3  	  	Plan
Administrator.  






	  	  	(i)  	  	To
file such reports as may be required with the United States Department of
               Labor, the Internal Revenue Service and any other government agency to
which                reports may be required to be submitted from time to time; and  






	  	  	(ii)  	  	To
administer the claims procedure to the extent provided in Section 16.  







        Section
12.     Benefits Not Assignable; Facility of Payments:  



	  	12.1 	  	Benefits
not Assignable.  No portion of any benefit credited or paid under the Plan
with respect to any Participant shall be subject in any manner to anticipation,
alienation, sale, transfer, assignment, pledge, encumbrance or charge, and any attempt so
to anticipate, alienate, sell, transfer, assign, pledge, encumber or charge the same
shall be void, nor shall any portion of such benefit be in any manner payable to any
assignee, receiver or any one trustee, or be liable for his debts, contracts,
liabilities, engagements or torts. Notwithstanding the foregoing, in the event that all
or any portion of the benefit of a Participant is transferred to the former spouse of the
Participant incident to a divorce, the Committee shall maintain such amount for the
benefit of the former spouse until distributed in the manner required by an order of any
court having jurisdiction over the divorce, and the former spouse shall be entitled to
the same rights as the Participant with respect to such benefit.  






	  	12.2 	  	Plan-Approved
Domestic Relations Orders.  The Plan Administrator shall establish written
procedures for determining whether an order directed to the Plan is a Plan-Approved
Domestic Relations Order.  






23







	  	  	12.2.1  	  	Review
by Plan Administrator:  The Plan Administrator shall make a determination on each
final court order directed to the Plan as to whether the order is a Plan-Approved
Domestic Relations Order. The Plan Administrator may delay the commencement of its
consideration of any order until the later of the date that is 30 days after the date of
the order or the date that the Plan Administrator is satisfied that all rehearing and
appeal rights with respect to the order have expired.  






	  	  	12.2.2  	  	Payment
to Alternate Payee:  If the Plan Administrator determines that an order is a
Plan-approved Domestic Relations Order, the Plan Administrator shall cause the payment of
amounts pursuant to or segregate a separate account as provided by (and to prevent any
payment or act which might be inconsistent with) the Plan-Approved Domestic Relations
Order.  






	  	  	12.2.3  	  	Expenses:  The
Employer and the Plan Administrator shall not be obligated to incur any cost to defend
against or set aside any judgment, decree, or order relating to the division, attachment,
garnishment, or execution of or levy upon the Participant’s account or any
distribution, including (but not limited to) any domestic relations proceeding.
Notwithstanding the foregoing, if any such person is joined in any proceeding, the party
may take such action as it considers necessary or appropriate to protect any and all of
its legal rights, and the Participant (or Beneficiary) shall reimburse all actual fees of
lawyers and legal assistants and expenses reasonably incurred by such party.  






	  	12.3 	  	Payments
to Minors and Others.  If any individual entitled to receive a payment
under the Plan shall be physically, mentally or legally incapable of receiving or
acknowledging receipt of such payment, the Committee, upon the receipt of satisfactory
evidence of his incapacity and satisfactory evidence that another person or institution
is maintaining him and that no guardian or committee has been appointed for him, may
cause any payment otherwise payable to him to be made to such person or institution so
maintaining him. Payment to such person or institution shall be in full satisfaction of
all claims by or through the Participant to the extent of the amount thereof.  







        Section
13.    Beneficiary:  



        The
Participant’s beneficiary shall be the person or persons designated by the
Participant on the beneficiary designation form provided by and filed with the Committee
or its designee. If the Participant does not designate a beneficiary, the beneficiary
shall be his  



24







Surviving
 Spouse.  If the  Participant  does not designate a beneficiary  and has no Surviving
 Spouse,  the beneficiary shall be the Participant’s estate. The designation of a
beneficiary may be changed or revoked only by filing a new beneficiary designation form
with the Committee or its designee. If a beneficiary (the “primary beneficiary”)
is receiving or is entitled to receive payments under the Plan and dies before receiving
all of the payments due him, the balance to which he is entitled shall be paid to the
contingent beneficiary, if any, named in the Participant’s current beneficiary
designation form. If there is no contingent beneficiary, the balance shall be paid to the
estate of the primary beneficiary. Any beneficiary may disclaim all or any part of any
benefit to which such beneficiary shall be entitled hereunder by filing a written
disclaimer with the Committee before payment of such benefit is to be made. Such a
disclaimer shall be made in a form satisfactory to the Committee and shall be irrevocable
when filed. Any benefit disclaimed shall be payable from the Plan in the same manner as
if the beneficiary who filed the disclaimer had predeceased the Participant.  




        Section
14.     Amendment and Termination of Plan:  



        The
Board may amend any provision of the Plan or terminate the Plan at any time; provided,
that in no event shall such amendment or termination reduce the balance in any Participant’s
Deferred Compensation Account as of the date of such amendment or termination, nor shall
any such amendment affect the terms of the Plan relating to the payment of such Deferred
Compensation Account. Notwithstanding the foregoing, the following special provisions
shall apply:  



	  	14.1 	  	Termination
Upon Change in Control.If the Employer terminates the Plan within twelve
months of a Change in Control, the Deferred Compensation Account of each Participant
shall become fully vested and payable to the Participant in a lump sum.  






25







	  	14.2 	  	Termination
On or Before December 31, 2005.  The Employer may terminate the Plan on or
before December 31, 2005, and distribute the vested balance in the Deferred Compensation
Account to each Participant so long as all amounts deferred under the Plan are included
in the income of the Participant in the taxable year in which the termination occurs.  






	  	14.3  	  	No
Financial Triggers.   The Employer may not terminate the Plan and make distributions
to a Participant due solely to a change in the financial health of the Employer.  







        Section
15.     Communication to Participants:  



        The
Employer shall make a copy of the Plan available for inspection by Participants  and
their  beneficiaries  during reasonable hours at the principal office of the Employer. 




        Section
16.     Claims Procedure:  



        The
following claims procedure shall apply with respect to the Plan: 



	  	16.1 	  	Filing
of a Claim for Benefits.  If a Participant or beneficiary (the “claimant”)
believes that he is entitled to benefits under the Plan which are not being paid to him
or which are not being accrued for his benefit, he shall file a written claim therefor
with the Plan Administrator. In the event the Plan Administrator shall be the claimant,
all actions which are required to be taken by the Plan Administrator pursuant to this
Section 16 shall be taken instead by another member of the Committee designated by
the Committee.  






	  	16.2 	  	Notification
to Claimant of Decision.   Within 90 days after receipt of a claim by the Plan
Administrator (or within 180 days if special circumstances require an extension of time),
the Plan Administrator shall notify the claimant of the decision with regard to the
claim. In the event of such special circumstances requiring an extension of time, there
shall be furnished to the claimant prior to expiration of the initial 90-day period
written notice of the  






26







extension, which notice shall set
forth the special circumstances and the date by which the decision shall be furnished. If
such claim shall be wholly or partially denied, notice thereof shall be in writing and
worded in a manner calculated to be understood by the claimant, and shall set forth:
(i) the specific reason or reasons for the denial; (ii) specific reference to
pertinent provisions of the Plan on which the denial is based; (iii) a description of
any additional material or information necessary for the claimant to perfect the claim and
an explanation of why such material or information is necessary; and (iv) an
explanation of the procedure for review of the denial and the time limits applicable to
such procedures, including a statement of the claimant’s right to bring a civil
action under ERISA following an adverse benefit determination on review. Notwithstanding
the forgoing, if the claim relates to a Participant who is Disabled, the Plan
Administrator shall notify the claimant of the decision within 45 days (which may be
extended for an additional 30 days if required by special circumstances). 



	  	16.3 	  	Procedure
for Review.  Within 60 days following receipt by the claimant of notice
denying his claim, in whole or in part, or, if such notice shall not be given, within 60
days following the latest date on which such notice could have been timely given, the
claimant shall appeal denial of the claim by filing a written application for review with
the Committee. Following such request for review, the Committee shall fully and fairly
review the decision denying the claim. Prior to the decision of the Committee, the
claimant shall be given an opportunity to review pertinent documents and to submit issues
and comments in writing. 








	  	16.4 	  	Decision
on Review.  The decision on review of a claim denied in whole or in part by
the Plan Administrator shall be made in the following manner:  






	  	16.4.1 	  	Within
60 days following receipt by the Committee of the request for review (or within 120 days
if special circumstances require an extension of time), the Committee shall notify the
claimant in writing of its decision with regard to the claim. In the event of such
special circumstances requiring an extension of time, written notice of the extension
shall be furnished to the  






27







	  	            	  	claimant prior
to the commencement of the extension.  Notwithstanding the forgoing,  if the claim
relates to a Participant who is Disabled, the Committee shall notify the claimant of the
decision within 45 days (which may be extended for an additional 45 days if required by
special circumstances).  






	  	16.4.2  	  	With
respect to a claim that is denied in whole or in part, the decision on review shall set
forth specific reasons for the decision, shall be written in a manner calculated to be
understood by the claimant, and shall cite specific references to the pertinent Plan
provisions on which the decision is based.  






	  	16.4.3  	  	The
decision of the Committee shall be final and conclusive. 






	  	16.5 	  	Action
by Authorized Representative of Claimant.  All actions set forth in this
Section 16 to be taken by the claimant may likewise be taken by a representative of
the claimant duly authorized by him to act in his behalf on such matters. The Plan
Administrator and the Committee may require such evidence as either may reasonably deem
necessary or advisable of the authority to act of any such representative.  







        Section
17.     Miscellaneous Provisions:  



	  	17.1 	  	Set
off.  Notwithstanding any other provision of this Plan, the Employer may
reduce the amount of any payment otherwise payable to or on behalf of a Participant
hereunder (net of any required withholdings) by the amount of any loan, cash advance,
extension of credit or other obligation of the Participant to the Employer that is then
due and payable, and the Participant shall be deemed to have consented to such reduction.  






	  	17.2 	  	Notices.  Each
Participant who is not in Service and each Beneficiary shall be responsible for
furnishing the Committee or its designee with his current address for the mailing of
notices and benefit payments. Any notice required or permitted to be given to such
Participant or Beneficiary shall be deemed given if directed to such address and mailed
by regular United States mail, first class, postage prepaid. If any check mailed to such
address is returned as undeliverable to the addressee, mailing of checks will be
suspended until the Participant or beneficiary furnishes the proper address. This
provision shall not be construed as  






28







	  	   	  	requiring the
mailing of any notice or notification otherwise permitted to be given by posting or by
other publication.  






	  	17.3 	  	Lost
Distributees.  A benefit shall be deemed forfeited if the Plan
Administrator is unable to locate the Participant or Beneficiary to whom payment is due
on or before the fifth anniversary of the date payment is to be made or commence;
provided, that the deemed investment rate of return pursuant to Section 8.2 shall cease
to be applied to the Participant’s account following the first anniversary of such
date; provided further, however, that such benefit shall be reinstated if a valid claim
is made by or on behalf of the Participant or Beneficiary for all or part of the
forfeited benefit.  






	  	17.4 	  	Reliance
on Data.  The Employer, the Committee and the Plan Administrator shall have
the right to rely on any data provided by the Participant or by any Beneficiary.
Representations of such data shall be binding upon any party seeking to claim a benefit
through a Participant, and the Employer, the Committee and the Plan Administrator shall
have no obligation to inquire into the accuracy of any representation made at any time by
a Participant or beneficiary.  






	  	17.5 	  	Receipt
and Release for Payments.  Subject to the provisions of Section 17.1,
any payment made from the Plan to or with respect to any Participant or Beneficiary, or
pursuant to a disclaimer by a Beneficiary, shall, to the extent thereof, be in full
satisfaction of all claims hereunder against the Plan and the Employer with respect to
the Plan. The recipient of any payment from the Plan may be required by the Committee, as
a condition precedent to such payment, to execute a receipt and release with respect
thereto in such form as shall be acceptable to the Committee.  






	  	17.6 	  	Headings.  The
headings and subheadings of the Plan have been inserted for convenience of reference and
are to be ignored in any construction of the provisions hereof.  






29







	  	17.7 	  	Continuation
of Employment.  The establishment of the Plan shall not be construed as
conferring any legal or other rights upon any Employee or any persons for continuation of
employment, nor shall it interfere with the right of the Employer to discharge any
Employee or to deal with him without regard to the effect thereof under the Plan.  






	  	17.8 	  	Merger
or Consolidation; Assumption of Plan.  No Employer shall consolidate or
merge into or with another corporation or entity, or transfer all or substantially all of
its assets to another corporation, partnership, trust or other entity (a “Successor
Entity”) unless such Successor Entity shall assume the rights, obligations and
liabilities of the Employer under the Plan and upon such assumption, the Successor Entity
shall become obligated to perform the terms and conditions of the Plan. Nothing herein
shall prohibit the assumption of the obligations and liabilities of the Employer under
the Plan by any Successor Entity.  






	  	17.9 	  	Construction.  The
Employer shall designate in the Adoption Agreement the state according to whose laws the
provisions of the Plan shall be construed and enforced, except to the extent that such
laws are superseded by ERISA and the applicable requirements of the Code.  






30