**ACCEPTANCE INSURANCE COMPANIES INC.401(K) TAX DEFERRED SAVINGS PLAN**

ARTICLE I 

                                                               PREAMBLES 

Section 1.01.         Establishment and Amendment of Plan Section 1.02.         Name of Plan Section 1.03.         Purpose of Plan Section 1.04.         Governing Law Section 1.05.         Predecessor Plan Section 1.06.         Defined Terms Section 1.07.         Adoption of Plan by Related Entities 

ARTICLE II                                                      ELIGIBILITY AND PARTICIPATION 

Section 2.01.         Eligibility Section 2.02.         Participation Section 2.03.         Participation Forms 

ARTICLE III 

                                                             CONTRIBUTIONS 

Section 3.01.         Source of Contributions and Allocation to Accounts Section 3.02.         Employer Discretionary ESOP Contributions and Forfeitures Section 3.03.         Tax Advantaged Employee 401(k) Contributions Section 3.04.         Employer Matching Contributions Section 3.05.         Employer Profit Sharing Contributions Section 3.06.         Rollover Contributions Section 3.07.         Code Section 415 Limitations on Annual Allocations to Accounts Section 3.08.         Military Service 

ARTICLE IV 

                                                 INVESTMENT AND VALUATION OF ACCOUNTS 

Section 4.01.         Investment of Plan Assets Section 4.02.         Valuations Section 4.03.         Statements of Value of Participants' Accounts 

ARTICLE V 

                                                   NONFORFEITABLE RIGHTS TO BENEFITS 

Section 5.01.         Normal Retirement Section 5.02.         Delayed Retirement Section 5.03.         Early Retirement Section 5.04.         Total and Permanent Disability Retirement Section 5.05.         Temporary Disability Benefits Section 5.06.         Death Section 5.07.         Termination of Employment prior to Death or Eligibility for Any Retirement 

ARTICLE VI

 DISTRIBUTION OF BENEFITS

 Section 6.01.        Valuation of Accounts; Date and Form of Distribution Section 6.02.         Beneficiary Designations Section 6.03.         Loans to Participants Section 6.04.         Distribution Due to Hardship Section 6.05.         Direct Rollovers 

ARTICLE VII 

                                                          SPECIAL PROVISIONS 

Section 7.01.         Provisions Relating to Plan Investments in Company Stock Section 7.02.         Diversification of Investments Section 7.03.         Top-Heavy Plan Rules Section 7.04.         Break in Service Rules Section 7.05.         Transfers between Related Entities Section 7.06.         Leased Employees 

ARTICLE VIII 

                                                              TRUST FUND 

Section 8.01.         Establishment and Maintenance of Fund Section 8.02.         Benefits under the Plan Limited to the Assets of the Fund Section 8.03.         The Trustee Section 8.04.         Resignation or Removal of Trustee Section 8.05.         Expenses Section 8.06.         Taxes 

ARTICLE IX 

                                         PROVISIONS RELATING TO ADMINISTRATION AND FIDUCIARIES 

Section 9.01.         Plan Administration Section 9.02.         Claims Procedure Section 9.03.         Special Ruling Section 9.04.         Specific Allocation of Fiduciary Responsibilities between Named Fiduciaries Section 9.05.         Authorization for Further Allocation of Fiduciary Duties Section 9.06.         Employment of Advisers Section 9.07.         Delegation to Officers or Employees Section 9.08.         Indemnification Section 9.09.         Fiduciary Liability Insurance Section 9.10.         Bonding 

ARTICLE X

 AMENDMENT, TERMINATION AND MERGER 

Section 10.01.         Amendment of the Plan Section 10.02.         Termination of the Plan Section 10.03.         Merger or Consolidation Section 10.04.         Notice 

ARTICLE XI 

                                                       MISCELLANEOUS PROVISIONS

Section 11.01.        Approval of Commissioner of Internal Revenue Section 11.02.         Payments for the Benefit of Payee Section 11.03.         Non-Alienation of Benefits Section 11.04.         Employer's Rights Section 11.05.         Litigation Section 11.06.         Location of Participant or Beneficiary Unknown Section 11.07.         Written Explanation Section 11.08.         Action by Employer Section 11.09.         Construction Section 11.10.         Compliance with Section 16 of the Securities Exchange Act of 1934

ARTICLE XII 

DEFINITIONS 

                                                     ARTICLE I 

                                                     PREAMBLES 

                  Section 1.01.  Establishment and Amendment  of Plan. Effective  December 23,  1987, Acceptance Insurance Holdings Inc.         ("Acceptance")  established  the  Acceptance  Insurance  Holdings Inc.  Employee  Stock  Ownership  Plan, and executed a trust         agreement  establishing the Acceptance Insurance Holdings,  Inc. 1987 Employee Stock Ownership Trust to hold the assets of the         plan. 

                  Effective April 12,  1990,  Acceptance became a wholly owned subsidiary of Stoneridge  Resources,  Inc., and the plan         and trust  documents were amended and renamed the Stoneridge  Resources,  Inc.  Employee Stock Ownership Plan ("ESOP") and the         Stoneridge Resources, Inc. Employee Stock Ownership Trust, respectively.

 Effective  November 1,  1987, Stoneridge  Resources,  Inc. adopted the Manufacturers  National Bank of Detroit Master         Tax-Deferred Savings Plan and Trust ("401(k) Plan") for the benefit of its eligible employees.

 TheEmployers participating in the Plan adopted amendments on May 5, 1997further amending the Plan for recent law changes. The Employers participating inthe Plan again elected to amend and restate the Plan incorporating allamendments since the last restatement. Except as otherwise specificallyprovided, this amended and restated document shall be effective January 1,2001.