|WYETH
|-----
|
|

|DATE OF GRANT:  [April 21, 2005]*
|---------------------------------
|
|
|

Name Address 1  Address 2

The Company
hereby awards you a performance share award consisting of stock units (the
Units) representing shares of Common Stock in the amount set forth
above (the Target Award). The Units are subject to the terms and
restrictions set forth in the Plan and this Agreement. Each Unit corresponds to one share
of Common Stock. Upon the full or partial satisfaction by the Company of certain
performance criteria described in Paragraph 3, the Units shall be converted into shares of
Common Stock on the terms and conditions set forth herein. Capitalized words not otherwise
defined in the text of this Agreement or in Paragraph 10 shall have the same meanings as
in the Plan.

By
signing this Agreement (or otherwise acknowledging, as instructed, your agreement
thereto), you acknowledge and agree that:

o   
You have read and understand the
terms of the Plan and this Agreement.

o   
The Company has the right, without your prior consent, to amend or modify the terms of the
Plan or this Agreement to the extent that the Committee deems it necessary to avoid
adverse or unintended tax consequences to you under Section 409A. Such amendments or
modifications may limit or eliminate certain rights otherwise available to you under the
Plan and/or this Agreement.

1.   No Stockholder Rights Until Issuance of Shares. No shares of Common Stock
represented by the Units will be earmarked for you or your account, and you will not have any of the rights of a stockholder with respect to such shares until
such time as the shares are issued to you in accordance with the terms of this Agreement.

|2.   
     No Transfer of Units. You may not sell, transfer, assign, pledge or
          otherwise encumber or dispose of the Units granted hereunder.
|------------------------------------------------------------------------------------------------------------------------------------------------------

|3.   
          Conversion to Common Stock.
|-------------------------------------------

|(a)   EPS Conversion Date. At a meeting of the Committee to be held within 90
          days after the end of [2007], the Committee shall compare the EPS with the EPS
          Target for [2007] set by the Committee at the beginning of such performance year.
          If the Committee determines that the minimum EPS Target has been achieved as set
          forth on the Performance Grid adopted by the Committee at the beginning of such
          performance year, then, subject to your applicable Deferral Election or
          Re-Deferral Election, as the case may be, the percentage of Units corresponding
          to the EPS Target achieved as set forth on the Performance Grid shall be
          converted, as of the EPS Conversion Date, into Common Stock (up to a maximum of
          200% of the Target Award), and all rights with respect to the remaining portion
          of such Target Award (up to a maximum of 100% of the Target Award, if any) shall
          be subject to Paragraph 3(b).
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|(b)   TSR Determination Date. In the event that less than 100% of the Target
          Award is converted to Common Stock as of the EPS Conversion Date pursuant to
          Paragraph 3(a) above, then up to 100% of the Units represented by such Target
          Award that were not converted shall be eligible for subsequent conversion to
          shares of Common Stock as provided in this Paragraph 3(b). At a meeting of the
          Committee to be held on a date within 90 days after the end of [2009], the
          Committee shall determine the Total Shareholder Return of the Company and of
          each member of the Peer Group, and shall rank them comparatively, for the
          three-year period from January, 1 [2007] through December 31, [2009] and, if the
          Company ranks within the highest three for that period, then, subject to your
          Deferral Election or Re-Deferral Election, as the case may be, the Units
          representing 100% of the Target Award that were not previously converted shall
          be converted to Common Stock as of the TSR Determination Date.
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|(c)   Forfeiture of Units. If the Company does not rank in the highest three of
          the Peer Group, then any Units not previously settled as of the EPS Conversion
          Date shall be immediately forfeited as of the date of the Committees
          determination under Paragraph 3(b), and all rights with respect thereto shall be
          surrendered to the Company. Notwithstanding anything in this Agreement to the
          contrary, upon your forfeiture for any reason of all rights to the Units granted
          hereunder, such Units shall, for all purposes of the Plan and this Agreement, be
          deemed terminated and without further force or effect as of the date of such
          forfeiture.
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|(d)   Rounding. The number of Units settled in accordance with the calculations
          described in Paragraphs 3(a) and 3(b) shall be rounded up or down to the nearest
          whole number.
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|4.   Deferral Elections and Re-Deferral Elections.
|--------------------------------------------------

|(a)   Deferral Elections. You are eligible to make a Deferral Election to defer
          the issuance to you of all of theshares of Common Stock otherwise
          issuable to you as of the EPS Conversion Date or the TSR Determination Date, as
          the case may be. To make a Deferral Election, you must complete an election form
          approved by the Committee that conforms to the terms of the attached ANNEX
          B, and return or otherwise submit such form to the Record Keeper as soon as
          possible after the date hereof, but in no event later than 60 days from the date
          of this Agreement or such shorter period as may be required by applicable law
          and communicated to you by the Committee. All Deferral Elections must comply
          with the applicable procedures established by the Committee from time to time.
          If you make such a Deferral Election (or a Re-Deferral Election pursuant to
          Paragraph 4(b)), then, as of the EPS Conversion Date and/or the TSR
          Determination Date, as the case may be, the following shall apply: (i) the Units
          that would have been earned as of the EPS Conversion Date or the TSR
          Determination Date, as the case may be, shall be cancelled; (ii) in exchange for
          such cancelled Units, you will have a future right to receive a number of shares
          of Common Stock equal to the number of Units so cancelled, subject to Paragraph
          5(d); and (iii) as of the EPS Conversion Date and/or TSR Determination Date, as
          the case may be, the Company shall contributeto the Restricted Stock
          Trust, subject to Paragraph 5(d), a number of shares of Common Stock equal to
          the number of Units cancelled, which shares shall be used to satisfy the
          Companys payment obligations to you under your Deferral Election and this
          Agreement, and such shares shall be issued to you as of the Payment Date(s)
          specified in your Deferral Election or Re-Deferral Election, as the case may be,
          subject to Paragraph 6, 7 or 8.
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|(b)   Re-Deferral Elections. You may, in accordance with procedures established
          from time to time by the Committee, also make a Re-Deferral Election with
          respect to all of the shares of Common Stock earned or eligible to be earned by
          you under this Agreement. Any such Re-Deferral Election (i) must be in
          accordance with the provisions of Section 409A (as reasonably interpreted by the
          Committee), (ii) must be made in writing (unless otherwise instructed by the
          Company) and received by the Record Keeper at least one year prior to the
          Payment Date previously specified in your Deferral Election or established under
          the terms of this Agreement and (iii) must delay receipt of payment of the
          amounts otherwise due to you under this Agreement for the minimum re-deferral
          period required by Section 409A (for example, in the case of the Payment Date
          for a lump sum, the minimum re-deferral period would be for at least five years
          following such Payment Date). To the extent that a Payment Date is delayed
          pursuant to Paragraph 7(a) or 7(c), the one-year period referenced in clause
          (ii) of this Paragraph 4(b) shall be measured from the EPS Conversion Date or
          TSR Determination Date, as the case may be. Notwithstanding anything in this
          Agreement to the contrary, (A) you will be permitted to make a Re-Deferral
          Election solely to the extent that such election will not result in adverse or
          unintended tax consequences to you under Section 409A and (B) issuance of
          amounts subject to an applicable Re-Deferral Election shall not occur prior to
          the Payment Date(s) set forth in your Re-Deferral Election solely to the extent
          necessary to avoid adverse or unintended tax consequences to you under Section
          409A.
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|5.   Issuance and Delivery of Shares of Common Stock; Withholding.
|------------------------------------------------------------------

|(a)   Method of Issuance; Time of Delivery; Stockholder Rights. As soon as
          practicable after a Payment Date, all shares of Common Stock, if any, earned by
          you under this Agreement that are to be issued to you as of such Payment Date
          shall be delivered either through book-entry form as a credit to an account
          maintained in your name or through the issuance of a stock certificate
          representing such shares of Common Stock free of any restrictive legend, other
          than as may be required by applicable securities laws. Upon such issuance, you
          shall be the record owner of such shares and shall be entitled to all of the
          rights of a stockholder of the Company, including the right to vote and the
          right to receive dividends.
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|(b)   No Deferral Election. If you do not make a Deferral Election or
          Re-Deferral Election, the shares of Common Stock to be issued to you pursuant to
          this Agreement shall be delivered to you, if earned, in a lump sum as soon as
          practicable after the EPS Conversion Date and/or TSR Determination Date, as the
          case may be, subject to Paragraph 6 or 7.
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|(c)   Deferral Election. If you make a Deferral Election or Re-Deferral
          Election, the shares of Common Stock to be issued to you, if earned, pursuant to
          this Agreement shall be delivered to you as soon as practicable after the
          Payment Date(s) specified in such Deferral Election or Re-Deferral Election,
          subject to Paragraph 6, 7 or 8.
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|(d)   Amounts to Be Withheld. The number of shares of Common Stock that shall
          be issued to you (either directly from the Company pursuant to this Paragraph 5
          or from the Restricted Stock Trust) as of a Payment Date(s) shall be (i) the
          number of such shares that would have been issued as of the Payment Date in the
          absence of this Paragraph 5(d) minus (ii) the number of whole shares of Common
          Stock necessary to satisfy (A) the minimum federal, state and local income tax
          withholding obligations that are imposed on the Company by applicable law in
          respect of the issuance of such award, (B) other tax withholding obligations
          (e.g., Social Security and Medicare) that may be due from time to time under
          applicable law (and that may be satisfied by the reduction effected hereby in
          the number of issuable shares) and (C) any administrative fees that may be
          imposed by the Company, in each case, it being understood that the value of the
          shares referred to in clause (ii) above shall be determined, for the purposes of
          satisfying the obligations set forth in this Paragraph 5(d) and determining your
          income related to such award, on the basis of the average of the high and low
          per-share prices for the Common Stock as reported on the Consolidated
          Transaction Reporting System on the trading day immediately preceding the
          designated date of issuance or as otherwise determined in Paragraph 8, or on
          such other reasonable basis for determining fair market value as the Committee
          may from time to time adopt. Shares of Common Stock may also be issued and
          withheld at the time Social Security, Medicare and other wage withholding taxes
          are due.
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|(e)   Compliance with Section 409A. Issuance of shares of Common Stock under
          this Agreement shall be made in accordance with the provisions of Section 409A
          and, to the extent that such shares are issued in connection with your
          Separation from Service for any reason other than death, such issuance shall be
          delayed for six months and one day to the extent the Committee determines that
          such delay is necessary to avoid adverse or unintended tax consequences to you
          under Section 409A.
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|6.   Separation from Service Other than by Reason of Retirement, Disability or
          Death; Forfeiture; Default Payment.
|----------------------------------------------------------------------------------------------------------------------------

|(a)   Prior to EPS Conversion Date. If you incur a Separation from Service
          prior to the EPS Conversion Date for any reason other than Retirement,
          Disability or death, you shall forfeit all rights to all Units granted
          hereunder.
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|(b)   On or After TSR Determination Date. If you incur a Separation from
          Service on or after the TSR Determination Date for any reason other than
          Retirement, Disability or death, the shares that are earned under this
          Agreement, but have not then been issued to you, shall be issued to you in
          accordance with Paragraph 5 as of the Payments Date(s) specified below:
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|(i)   No Deferral/Re-Deferral Election. If you did not make a Deferral Election
          or Re-Deferral Election, as the case may be, the shares of Common Stock shall be
          issued in a lump sum as of the TSR Determination Date.
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|(ii)   Deferral/Re-Deferral Election. If you made a Deferral Election or
          Re-Deferral Election with respect to the shares earned under this Agreement, the
          shares subject to your Deferral Election or Re-Deferral Election, as the case
          may be, that are earned but have not then been issued to you shall be issued to
          you, in accordance with Paragraph 5, in a lump sum as of the date of such
          Separation from Service, regardless of the Payment Date(s) specified in your
          Deferral Election or Re-Deferral Election.
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|(c)   On or After EPS Conversion Date but Prior to TSR Determination Date. If
          you incur a Separation from Service on or after the EPS Conversion Date but
          prior to the TSR Determination Date for any reason other than Retirement,
          Disability or death, the following shall apply with respect to all Units granted
          hereunder:
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|(i)   Forfeiture. You shall forfeit all rights to all such Units that would
          otherwise be converted to shares of Common Stock pursuant to Paragraph 3(b); and
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------

|(ii)   Issuance. The shares of Common Stock, if any, issuable to you in respect
          of the EPS Conversion Date pursuant to Paragraph 3(a) that have not then been
          issued shall be issued, in accordance with Paragraph 5, in a lump sum as of the
          EPS Conversion Date, regardless of any Payment Date(s) that may be specified in
          your Deferral Election or Re-Deferral Election.
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|7.   Separation from Service by Reason of Retirement, Disability or Death.
|--------------------------------------------------------------------------

|(a)   Prior to EPS Conversion Date.
|-----------------------------------

|(i)   Issuance of Shares. If you incur a Separation from Service prior to the
          EPS Conversion Date (A) by reason of Retirement, Disability or death and (B) as
          of the date of such Separation from Service, you have been in the continuous
          employment of the Company or one or more of its subsidiaries for the two-year
          period ending on the date of such Separation from Service, the Units granted
          hereunder shall remain outstanding and shall be settled in accordance with
          Paragraph 3 and the shares of Common Stock in settlement of such Units, if
          earned, shall be issued in accordance with Paragraph 5 as of the Payments
          Date(s) specified below:
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|(A)   No Deferral/Re-Deferral Election. If you did not make a Deferral Election
          or Re-Deferral Election, as the case may be, with respect to such shares, the
          shares of Common Stock shall be issued to you, your legal representative or
          other person designated by an appropriate court as entitled to take receipt
          thereof or your Beneficiary, as the case may be, in a lump sum as of the EPS
          Conversion Date and/or TSR Determination Date, as the case may be.
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|(B)   Deferral/Re-Deferral ElectionRetirement. If you made a Deferral
          Election or Re-Deferral Election, as the case may be, with respect to such
          shares and the Separation from Service is by reason of Retirement, the shares
          subject to such Deferral Election or Re-Deferral Election shall be issued to you
          in the form (lump sum or installments) elected by you in the Deferral Election
          or Re-Deferral Election, as the case may be, as of the later of (x) the Payment
          Date(s) specified in your Deferral Election or Re-Deferral Election, and (y) the
          EPS Conversion Date and/or TSR Determination Date, as the case may be.
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|(C)   Deferral/Re-Deferral ElectionDisability. If you made a Deferral
          Election or Re-Deferral Election, as the case may be, with respect to such
          shares and the Separation from Service is by reason of Disability, the shares
          subject to such Deferral Election or Re-Deferral Election shall be issued in
          accordance with Paragraph 7(a)(i)(B) to you, your legal representative or other
          person designated by an appropriate court as entitled to take receipt thereof,
          as the case may be.
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|(D)   Deferral/Re-Deferral ElectionDeath. Notwithstanding anything in
          this Paragraph 7(a) to the contrary, if your Separation from Service is by
          reason of death or you die after a Separation from Service by reason of
          Retirement or Disability and, in either such case, you have shares of Common
          Stock subject to a Deferral Election or Re-Deferral Election, as the case may
          be, that have not then been issued to you, such shares shall be issued to your
          Beneficiary in a lump sum as of the EPS Conversion Date and/or TSR Determination
          Date, as the case may be, regardless of the Payment Date(s) specified in your
          Deferral Election or Re-Deferral Election.
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|(ii)   Continuous Employment Requirement. Notwithstanding anything in this
          Paragraph 7 to the contrary, if you incur a Separation from Service prior to the
          EPS Conversion Date (A) by reason of Retirement, Disability or death and
          (B) as of the date of your Separation from Service, you have not been in
          the continuous employment of the Company or one or more of its subsidiaries for
          the two-year period ending on such Separation from Service, you shall forfeit
          all rights to all Units granted hereunder as of the date of such Separation from
          Service.
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|(b)   On or After TSR Determination Date.
|-----------------------------------------

|(i)   No Deferral/Re-Deferral Election. If you did not make a Deferral Election
          or Re-Deferral Election with respect to such shares and you incur a Separation
          from Service on or after the TSR Determination Date by reason of Retirement,
          Disability or death, such shares of Common Stock, if earned, shall be issued to
          you, your legal representative or other person designated by an appropriate
          court as entitled to take receipt thereof or your Beneficiary, as the case may
          be, in a lump sum as of the TSR Determination Date.
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|(ii)   Deferral/Re-Deferral ElectionRetirement. If you incur a Separation
          from Service on or after the TSR Determination Date by reason of Retirement and
          you have shares of Common Stock subject to a Deferral Election or Re-Deferral
          Election, as the case may be, that have not then been issued to you, such
          shares, if earned, shall be issued to you in accordance with Paragraph 5 as of
          the Payment Dates(s) specified in your Deferral Election or Re-Deferral
          Election.
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|(iii)   Deferral/Re-Deferral ElectionDisability. If you incur a Separation
          from Service on or after the TSR Determination Date by reason of Disability and
          you have shares of Common Stock subject to a Deferral Election or Re-Deferral
          Election, as the case may be, that have not then been issued to you, such
          shares, if earned, shall be issued to you, your legal representative or other
          person designated by an appropriate court as entitled to take receipt thereof,
          as the case may be, in accordance with Paragraph 5 as of the Payment Date(s)
          specified in your Deferral Election or Re-Deferral Election.
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|(iv)   Deferral/Re-Deferral ElectionDeath. Notwithstanding anything in
          this Paragraph 7(b) to the contrary, if your Separation from Service is by
          reason of death or you die after a Separation from Service by reason of
          Retirement or Disability, and, in either such case, you have shares of Common
          Stock subject to a Deferral Election or Re-Deferral Election, as the case may
          be, that have not then been issued to you, such shares, if earned, shall be
          issued to your Beneficiary, in accordance with Paragraph 5, in a lump sum as
          soon as practicable following the date of your death, regardless of the Payment
          Date(s) specified in your Deferral Election or Re-Deferral Election.
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|(c)   On or After EPS Conversion Date but Prior to TSR Determination Date. If
          you incur a Separation from Service on or after the EPS Conversion Date but
          prior to the TSR Determination Date by reason of Retirement, Disability or
          death, all Units granted hereunder that have not then been settled shall remain
          outstanding and shall be settled in accordance with Paragraph 3 and the shares
          of Common Stock in settlement of such Units, if earned, shall be issued in
          accordance with Paragraph 5 as of the Payments Date(s) specified below:
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|(i)   No Deferral/Re-Deferral Election. If you did not make a Deferral Election
          or Re-Deferral Election with respect to such shares, the shares of Common Stock
          that have not then been issued to you shall be issued to you, your legal
          representative or other person designated by an appropriate court as entitled to
          take receipt thereof or your Beneficiary, as the case may be, in a lump sum as
          of (A) the EPS Conversion Date and/or (B) the TSR Determination Date, as the
          case may be.
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|(ii)   Deferral/Re-Deferral ElectionRetirement. If you made a Deferral
          Election or Re-Deferral Election with respect to such shares and the Separation
          from Service is by reason of Retirement, such shares shall be issued to you as
          follows:
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|(A)   shares issuable in respect of the EPS Conversion Date shall be issued to you as
               of the Payment Date(s) specified in your Deferral Election or Re-Deferral
               Election, as the case may be.
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|(B)   shares issuable in respect of the TSR Determination Date shall be issued to you
               in the form (lump sum or installments) elected by you in your Deferral Election
               or Re-Deferral Election, as the case may be, as of the later of (x) the Payment
               Date(s) specified in your Deferral Election or Re-Deferral Election and (y) the
               TSR Determination Date.
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|(iii)   Deferral/Re-Deferral ElectionDisability. If you made a Deferral
          Election or Re-Deferral Election with respect to such shares and the Separation
          from Service is by reason of Disability, the shares shall be issued to you, your
          legal representative or other person designated by an appropriate court, as the
          case may be, in accordance with Paragraph 7(c)(ii).
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|(iv)   Deferral/Re-Deferral ElectionDeath. Notwithstanding anything in
          this Paragraph 7(c) to the contrary, if your Separation from Service is by
          reason of death or you die after a Separation from Service by reason of
          Retirement or Disability, and, in either such case, you have shares of Common
          Stock subject to a Deferral Election or Re-Deferral Election, as the case may
          be, that have not then been issued to you, such shares shall be issued to your
          Beneficiary in a lump sum as of the later of (x) as soon as practicable
          following the date of your death and (y) the EPS Conversion Date and/or the TSR
          Determination Date, as the case may be, regardless of the Payment Date(s)
          specified in your Deferral Election or Re-Deferral Election.
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|8.   Distribution in the Event of Financial Hardship.
|-----------------------------------------------------

|(a)   Requirements. If the issuance of shares of Common Stock has been deferred
          by you pursuant to a Deferral Election or Re-Deferral Election, as the case may
          be, and such shares have not then been issued to you, you may submit a written
          request for an accelerated issuance of such shares in the event you experience
          an Unforeseeable Financial Emergency. The Hardship Committee shall evaluate any
          such request as soon as practicable in accordance with Section 409A. If the
          Hardship Committee determines in its sole discretion that you are experiencing
          such an Unforeseeable Financial Emergency, the Hardship Committee shall direct
          the Company to issue to you, as soon as practicable following such
          determination, such number of shares of Common Stock held for your account in
          the Restricted Stock Trust, provided that the value of such shares of
          Common Stock does not exceed the amount needed to satisfy the Unforeseeable
          Financial Emergency and the tax liability reasonably anticipated as a result of
          such issuance of shares. In making its determination, the Hardship Committee
          shall take into account the extent to which such Unforeseeable Financial
          Emergency is, or may be, relieved through reimbursement or compensation by
          insurance or otherwise or by liquidation of your assets (to the extent the
          liquidation of such assets would not itself cause severe financial hardship).
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|(b)   Distribution Procedures. For purposes of this Paragraph 8, the value of
          the shares of Common Stock shall be calculated based on the average of the high
          and low share prices for the Common Stock as reported on the Consolidated
          Transaction Reporting System on the trading day immediately preceding the date
          of approval by the Hardship Committee. You must provide adequate documentation
          to the Hardship Committee in order to be eligible for the issuance of shares to
          confirm the amount needed to satisfy the costs related to the Unforeseeable
          Financial Emergency and the taxes payable on the release of such shares. If you
          have elected, pursuant to Paragraph 4, to receive the shares of Common Stock
          subject to this Agreement in the form of installments, the number of shares
          issued to you due to the Unforeseeable Financial Emergency pursuant to this
          Paragraph 8 shall be deducted from the remaining installments to be issued to
          you starting with the last in time of such installments scheduled to be issued.
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|9.   Miscellaneous. This Agreement may not be amended except in writing.
          Neither the existence of the Plan and this Agreement nor the Target Award
          granted hereby shall create any right to continue to be employed by the Company
          or its subsidiaries, and your employment shall continue to be at will and
          terminable at will by the Company. In the event of a conflict between this
          Agreement and the Plan, the Plan shall govern; provided, however,
          that nothing in this Paragraph 9 shall be construed as requiring that any such
          conflict be resolved in a manner that the Company determines would be
          inconsistent with Section 409A or would result in adverse or unintended tax
          consequences to you under Section 409A. To the extent that the Committee or the
          Hardship Committee is authorized to make a determination under this Agreement,
          all such determinations shall be in the sole discretion of the Committee, the
          Hardship Committee or their respective delegates.
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|10.   Definitions and Rules of Construction.
|--------------------------------------------

|(a)   Definitions. The following terms have the meanings set forth below:
|-------------------------------------------------------------------------

Agreement
means this Performance Share Award Agreement under the Plan, including each annex attached
hereto.

Beneficiary
means one or more individuals or entities (including a trust or estate) designated by you
to receive, in the event of your death, any shares of Common Stock earned and issuable to
you pursuant to this Agreement. You may change your Beneficiary by submitting the
appropriate form, as determined by the Committee, to the Record Keeper. The last such form
submitted prior to your death with respect to the amounts awarded pursuant to this
Agreement received by the Record Keeper shall supersede any prior such form submitted. In
the event of your death, the Record Keeper shall attempt to locate your Beneficiary in the
order presented on the appropriate Beneficiary designation form by taking one or more of
the following actions: first, sending a letter by certified mail to the address of the
Beneficiary indicated on the Beneficiary designation form, second, using the
letter-forwarding service offered by the Internal Revenue Service or the Federal Social
Security Administration and third, taking any other action that the Committee deems
appropriate.If 90 days after the last such action taken by the Record Keeper, the
Record Keeper has not located your Beneficiary, or if you have no Beneficiary (whether due
to the death of your Beneficiary or your failure to properly designate your Beneficiary on
the appropriate form), your Beneficiary shall be your estate for purposes of issuing the
shares of Common Stock due to you under this Agreement.

Code
means the Internal Revenue Code of 1986, as amended from time to time, and the rulings,
regulations and other guidance thereunder.

Committee
means the Compensation and Benefits Committee of the Board of Directors of the Company.
Any action that the Committee is required or permitted to take hereunder may be undertaken
by any person to whom the Committee delegated authority to take such action, and any
action by a delegate of the Committee shall, for all purposes hereof, constitute an act of
the Committee.

Common
Stock means the common stock of the Company, par value $0.33 1/3 per share.

Company
means Wyeth, a Delaware corporation.

Deferral
Election means your one-time irrevocable deferral election made in accordance
with the terms of Paragraph 4(a) to defer receipt of all of the shares of Common Stock
otherwise issuable to you as of the EPS Conversion Date and/or the TSR Determination Date,
as the case may be.

Disability
means a Separation from Service by reason of disability for purposes of at least one
qualified retirement plan or long-term disability plan maintained by the Company in which
you participate. To the extent that your Disability is not a disability within the meaning
of Section 409A, any issuance of shares of Common Stock under this Agreement may be
delayed for six months and one day following your Separation from Service in accordance
with Paragraph 5(e).

EPS
means the earnings or net income per share of common stock of the Company for [2007],
adjusted to exclude the effect of extraordinary or unusual items of income or expense, all
as determined in good faith by the Committee acting in its sole discretion.

EPS
Conversion Date means the 90thday following the end of [2007] (or, solely
to the extent permitted by Section 409A, the date between January 1, [2008] and March 31,
[2008] on which the Committee makes the determination set forth in Paragraph 3(a)).

EPS
Target shall be the EPS target amount established by the Committee at a meeting
to be held no later than March 1, [2007]; provided, however, that if for any
reason the Committee shall determine that the EPS Target is no longer a practicable or
appropriate measure of financial performance, the Committee may take action to substitute
another financial measure as it deems appropriate under the circumstances.

Exchange
Act means the Securities Exchange Act of 1934 (as amended from time to time) and
the rules and regulations promulgated thereunder.

Hardship
Committee means the individual or individuals designated by the Committee to
make all determinations under Paragraph 8. Any action that the Hardship Committee is
required or permitted to take hereunder may be undertaken by any person to whom the
Hardship Committee delegated authority to take such action, and any action by a delegate
of the Hardship Committee shall, for all purposes hereof, constitute an act of the
Hardship Committee.

Payment
Date means the date as of which shares of Common Stock are issued to you in
accordance with the terms of this Agreement and any applicable Deferral Election and
Re-Deferral Election made by you in accordance with the terms hereof.

Peer
Group shall consist of those companies listed on ANNEX A attached hereto,
which Annex may be amended from time to time as a result of circumstances (e.g., merger,
consolidations, etc.) deemed by the Committee in its sole discretion to warrant such
amendment.

Performance
Grid shall be the performance chart established by the Committee at a meeting to
be held no later than March 1, [2007], which shall plot the different payout percentage
levels at various EPS Targets achieved; provided, however, that if for any
reason the Committee shall determine that the Performance Grid is no longer a practicable
or appropriate measure of financial performance, the Committee may take action to
substitute another financial measure as it deems appropriate under the circumstances.

Plan
means the plan identified on the first page of this Agreement, as the same may be amended
from time to time. The terms of the Plan constitute a part of this Agreement.

Record
Keeper means the person or persons identified from time to time by the Committee
to be responsible for the day-to-day administration of the Plan.

Re-Deferral
Election means an election made in accordance with Section 409A to delay the
payment of all shares of Common Stock issuable to you pursuant to your Deferral Election
or as otherwise described in Paragraph 4(b).

Restricted
Stock Trust means the trust fund established under the Trust Agreement to
accommodate the deferral of issuance of shares of Common Stock represented by Units (and
any dividends paid thereon) as provided in Paragraph 4, which trust fund is subject to the
claims of the Companys general creditors under federal and state law in the event of
insolvency of the Company as described in the Trust Agreement.

Retirement
has the meaning set forth in the Plan; provided, however, that if you have
not attained age 55 on or before the date of your Separation from Service by reason of
Disability, then solely for purposes of issuance of amounts subject to your Deferral
Election or Re-Deferral Election (if any), as the case may be, Retirement
shall mean the date you attain age 55, unless to do so would result in adverse or
unintended tax consequences to you under Section 409A.

Section
409A means Section 409A of the Code.

Separation
from Service means the termination of your employment from the Company and any
corporation that is in the same controlled group of corporations (within the meaning of
Section 414(b) of the Code) as the Company, any trade or business that is under common
control with the Company (within the meaning of Section 414(c) of the Code), any
affiliated service group (within the meaning of Section 414(m) of the Code) of which the
Company is a part and any other entity required to be aggregated with the Company pursuant
to Section 414(o) of the Code.

Total
Shareholder Return for any company for any period shall mean the percentage
change in the per-share stock market price of such companys common stock (or
equivalent security) during such period (assuming that each of such companys
per-share dividends are reinvested in such security at the closing market per-share price
as of the dividend payment date), which calculation shall be determined in good faith by the Committee
acting in its sole discretion.

Trust
Agreement means the Restricted Stock Trust Agreement, dated as of April 20,
1994, as amended.

TSR
Determination Date means the 90th day following the end of [2009] (or,
solely to the extent permitted by Section 409A, the date between January 1, [2010] and March
31, [2010] on which the Committee makes the determination set forth in Paragraph 3(b)).

Unforeseeable
Financial Emergency means a severe financial hardship to you resulting from (a)
a sudden and unexpected illness or accident of you, your spouse or any of your dependents
(as defined in Section 152(a) of the Code), (b) a loss of your property by reason of
casualty or (c) such other extraordinary and unforeseeable financial circumstances,
arising as a result of events beyond your control. The definition of Unforeseeable
Financial Emergency and the procedures related to payments in connection therewith shall
comply with the applicable provisions of Section 409A as reasonably construed by the
Hardship Committee.

(b)    Rules of Construction. All references to Paragraphs refer to paragraphs
          in this Agreement. The titles to Paragraphs in this Agreement are for
          convenience of reference only and, in case of any conflict, the text of this
          Agreement, rather than such titles, shall control.

11.    Compliance with Laws.

(a)    General Rule. This Agreement shall be governed by the laws of the State
          of Delaware and any applicable laws of the United States. Notwithstanding
          anything herein to the contrary, the Company shall not be obligated to issue any
          Units or shares of Common Stock of the Company represented thereby pursuant to
          this Agreement unless and until the Company is advised by its counsel that the
          issuance of such shares through book-entry form by a credit to an account
          maintained on your behalf, or through a stock certificate representing such
          shares, is in compliance with all applicable laws and regulations of
          governmental authority. The Company shall in no event be obliged to register any
          securities pursuant to the Securities Act of 1933 (as amended from time to time)
          or to take any other action in order to cause the issuance of such shares
          through book-entry form by a credit to an account maintained on your behalf, or
          through a stock certificate representing such shares, to comply with any such
          law or regulation.

(b)    Reservation of Rights. The Committee reserves the right, at any time, to
          (i) amend, modify, cancel or rescind, without your consent, any or all of
          the terms and conditions of the Plan and this Agreement or (ii) terminate the
          Plan, to the extent the Committee determines necessary to (A) comply with any
          applicable law, regulation, ruling or other regulatory guidance, including,
          without limitation, Section 409A, or (B) avoid adverse or unintended tax
          consequences to you under Section 409A.

---

(c)    Section 16. If you are subject to Section 16 of the Exchange Act,
          transactions under the Plan and this Agreement are intended to comply with all
          applicable conditions of Rule 16b-3 or its successors under the Exchange
          Act. To the extent any provision of the Plan, this Agreement or action by the
          Committee involving you is deemed not to comply with an applicable condition of
          Rule 16b-3, such provision or action shall be deemed null and void as to you, to
          the extent permitted by law and deemed advisable by the Committee;
          provided, however, that no action shall be taken pursuant to this
          sentence that could result in adverse or unintended tax consequences to you
          under Section 409A. Moreover, in the event the Plan or this Agreement does not
          include a provision required by Rule 16b-3 to be stated therein, such provision
          (other than one relating to eligibility requirements or the price and amount of
          awards as applicable) shall be deemed automatically to be incorporated by
          reference into the Plan and/or this Agreement insofar as you are concerned, with
          such incorporation to be deemed effective as of the effective date of such Rule
          16b-3 provision.

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|                                                   
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|___________________________________________________
|Name (Please Print)                                
|___________________________________________________
|Signature                                          

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ANNEX A

| |                                                                                                                                                               | 
| | ------------------------------------------------------------------------------------------------------------------------------------------------------------- | 
| | Peer Group
Abbott Laboratories
Bristol-Myers Squibb Company
Eli Lilly and Company
Johnson & Johnson
Merck & Co., Inc.
Pfizer Inc.
Schering-Plough Corporation | 
| |                                                                                                                                                               | 

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ANNEX B

# TERMS AND CONDITIONS
OF DEFERRAL ELECTIONS

Any Deferral Elections are subject to
Paragraph 4(a) of this Agreement and the terms and conditions set forth in this ANNEX
B. Capitalized terms not defined in this ANNEX B have the same meanings as in
this Agreement.

|1. |  | Your Deferral Election applies to all shares of Common Stock earned and issuable
                    under this Agreement and must be made on an election form that conforms to this
                    ANNEX B. Your Deferral Election must be submitted to the Record Keeper as
                    soon as possible and by no later than 60 days from the date of this Agreement or
                    such shorter period as may be required by Section 409A and communicated to you
                    by the Record Keeper.
|-- |  | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|2. |  | Once your completed election form has been submitted in accordance with this
                    Agreement and this ANNEX B, your Deferral Election will be irrevocable.
|-- |  | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|3. |  | All Deferral Elections and Re-Deferral Elections shall conform to Section 409A.
                    Notwithstanding anything to the contrary in this ANNEX B, the Company has
                    the right, without your prior consent, to amend or modify your Deferral
                    Elections and Re-Deferral Elections (including the time and form of payment) to
                    the extent that the Committee deems necessary to avoid adverse or unintended tax
                    consequences to you under Section 409A.
|-- |  | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|4. |  | If you elect to make a Deferral Election, you must select either a Short-Term
                    Payout or a Retirement Benefit, as described below. All of the shares of Common
                    Stock earned and issuable under this Agreement will be issued as of such Payment
                    Date(s) and delivered to you as soon as practicable thereafter. You cannot elect
                    both a Short-Term Payout and a Retirement Benefit Payout.
|-- |  | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|a. |  | A Short-Term Payout is a lump-sum distribution of all such shares of
                    Common Stock as of the Payment Date you select, which can be no earlier than
                    three and no more than fifteen years after the EPS Conversion Date or the TSR
                    Determination Date, as the case may be. Additionally, the Payment Date for your
                    Short-Term Payout can be no later than the end of the calendar year in which you
                    attain age 80. If you make a Deferral Election or Re-Deferral Election to
                    receive the shares earned and issuable to you under this Agreement in a
                    Short-Term Payout, you may make a subsequent Re-Deferral Election in accordance
                    with Paragraph 4(b) with respect to such shares, as long as you are an
                    active employee of the Company or its subsidiaries at the time of such
                    subsequent Re-Deferral Election.
|-- |  | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|b. |  | A Retirement Benefit is a distribution of all such shares of Common Stock
                    in the form of either a lump sum or annual installments (over 3 to 15 years)
                    issued as of your Retirement or a later date that is one or more years after
                    your Retirement. You must elect a Payment Date that results in all shares earned
                    and issuable under this Agreement being issued to you no later than the end of
                    the calendar year in which you attain age 80. Any earned and unissued shares
                    will be issued to you by the end of such calendar year, notwithstanding your
                    election. If you make a Deferral Election or Re-Deferral Election to receive the
                    shares earned and issuable to you under this Agreement as a Retirement Benefit,
                    you may make a subsequent Re-Deferral Election in accordance with
                    Paragraph 4(b) with respect to such shares, as long as (x) issuance of the
                    shares subject to your Deferral Election or prior Re-Deferral Election has not
                    commenced at the time of such subsequent Re-Deferral Election and (y) if, prior
                    to such subsequent Re-Deferral Election, you incurred a Separation of Service,
                    it was by reason ofRetirement.
|-- |  | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|(i) |  | If you make a Deferral Election or Re-Deferral Election to receive a Retirement
Benefit and incur a Separation from Service by reason of Retirement:
|--- |  | ----------------------------------------------------------------------------------------------------------------------------------------------------

o     prior to the EPS Conversion Date and have been, as of the date of such Separation from
Service, in the continuous employment of the Company or one or more of its subsidiaries
for at least two consecutive years, the shares of Common Stock earned and issuable under
this Agreement subject to your Deferral Election or Re-Deferral Election will be issued in
the form (installments or lump sum) elected by you in the Deferral Election or Re-Deferral
Election, as the case may be, as of the later of (A) the Payment Date(s) specified in your
Deferral Election or Re-Deferral Election, as the case may be, and (B) the EPS Conversion
Date and/or TSR Determination Date, as the case may be.



o    on or after the EPS Conversion Date but prior to the TSR Determination Date, the shares of
Common Stock earned under this Agreement and issuable on:



o    the EPS Conversion Date will be issued as of the Payment Date(s) specified in your
Deferral Election or Re-Deferral Election, as the case may be; and

o    the TSR Determination Date will be issued in the form (installments or lump sum) elected
by you in your Deferral Election or Re-Deferral Election, as the case may be, as of the
later of (A) the Payment Date(s) specified in your Deferral Election or Re-Deferral
Election, as the case may be, and (B) the TSR Determination Date.