EX-10.2




Exhibit 10.2  



HUDSON RIVER BANK &
TRUST COMPANY 401(K) SAVINGS PLAN 












TABLE OF CONTENTS 



ARTICLE I 
DEFINITIONS 



ARTICLE II
ADMINISTRATION 


	2.1	 	POWERS AND RESPONSIBILITIES OF THE EMPLOYER	 	11	 
	2.2	 	DESIGNATION OF ADMINISTRATIVE AUTHORITY	 	11	 
	2.3	 	POWERS AND DUTIES OF THE ADMINISTRATOR	 	11	 
	2.4	 	RECORDS AND REPORTS	 	12	 
	2.5	 	APPOINTMENT OF ADVISERS	 	12	 
	2.6	 	PAYMENT OF EXPENSES	 	12	 
	2.7	 	CLAIMS PROCEDURE	 	13	 
	2.8	 	CLAIMS REVIEW PROCEDURE	 	13	 





ARTICLE III 
ELIGIBILITY 


			
	3.1	 	CONDITIONS OF ELIGIBILITY	 	14	 
	3.2	 	EFFECTIVE DATE OF PARTICIPATION	 	14	 
	3.3	 	DETERMINATION OF ELIGIBILITY	 	14	 
	3.4	 	TERMINATION OF ELIGIBILITY	 	15	 
	3.5	 	OMISSION OF ELIGIBLE EMPLOYEE	 	15	 
	3.6	 	INCLUSION OF INELIGIBLE EMPLOYEE	 	15	 
	3.7	 	REHIRED EMPLOYEES AND BREAKS IN SERVICE	 	15	 
	3.8	 	ELECTION NOT TO PARTICIPATE	 	16	 






ARTICLE IV 
CONTRIBUTION AND
ALLOCATION 


			
	4.1	 	FORMULA FOR DETERMINING EMPLOYER CONTRIBUTION	 	17	 
	4.2	 	PARTICIPANT’S SALARY REDUCTION ELECTION	 	17	 
	4.3	 	TIME OF PAYMENT OF EMPLOYER CONTRIBUTION	 	19	 
	4.4	 	ALLOCATION OF CONTRIBUTION AND EARNINGS	 	19	 
	4.5	 	ACTUAL DEFERRAL PERCENTAGE TESTS	 	22	 
	4.6	 	ADJUSTMENT TO ACTUAL DEFERRAL PERCENTAGE TESTS	 	24	 
	4.7	 	ACTUAL CONTRIBUTION PERCENTAGE TESTS	 	26	 
	4.8	 	ADJUSTMENT TO ACTUAL CONTRIBUTION PERCENTAGE TESTS	 	28	 
	4.9	 	MAXIMUM ANNUAL ADDITIONS	 	30	 
	4.10	 	ADJUSTMENT FOR EXCESSIVE ANNUAL ADDITIONS	 	31	 
	4.11	 	ROLLOVERS AND PLAN-TO-PLAN TRANSFERS FROM QUALIFIED PLANS	 	32	 
	4.12	 	DIRECTED INVESTMENT ACCOUNT	 	33	 
	4.13	 	QUALIFIED MILITARY SERVICE	 	35	 


















ARTICLE V 
VALUATIONS 


			
	5.1	 	VALUATION OF THE TRUST FUND	 	36	 
	5.2	 	METHOD OF VALUATION	 	36	 






ARTICLE VI 
DETERMINATION AND
DISTRIBUTION OF BENEFITS 


	6.1	 	DETERMINATION OF BENEFITS UPON RETIREMENT	 	37	 
	6.2	 	DETERMINATION OF BENEFITS UPON DEATH	 	37	 
	6.3	 	DETERMINATION OF BENEFITS IN EVENT OF DISABILITY	 	38	 
	6.3	 	DETERMINATION OF BENEFITS UPON TERMINATION	 	38	 
	6.4	 	DISTRIBUTION OF BENEFITS	 	40	 
	6.5	 	DISTRIBUTION OF BENEFITS UPON DEATH	 	42	 
	6.6	 	TIME OF SEGREGATION OR DISTRIBUTION	 	44	 
	6.7	 	DISTRIBUTION FOR MINOR OR INCOMPETENT BENEFICIARY	 	44	 
	6.8	 	LOCATION OF PARTICIPANT OR BENEFICIARY UNKNOWN	 	44	 
	6.9	 	PRE-RETIREMENT DISTRIBUTION	 	44	 
	6.10	 	ADVANCE DISTRIBUTION FOR HARDSHIP	 	45	 
	6.11	 	QUALIFIED DOMESTIC RELATIONS ORDER DISTRIBUTION	 	46	 






ARTICLE VII 
TRUSTEE 


			
	7.1	 	BASIC RESPONSIBILITIES OF THE TRUSTEE	 	47	 
	7.2	 	INVESTMENT POWERS AND DUTIES OF THE TRUSTEE	 	47	 
	7.3	 	OTHER POWERS OF THE TRUSTEE	 	48	 
	7.4	 	LOANS TO PARTICIPANTS	 	50	 
	7.5	 	DUTIES OF THE TRUSTEE REGARDING PAYMENTS	 	51	 
	7.6	 	TRUSTEE’S COMPENSATION AND EXPENSES AND TAXES	 	51	 
	7.7	 	ANNUAL REPORT OF THE TRUSTEE	 	51	 
	7.8	 	AUDIT	 	51	 
	7.9	 	RESIGNATION, REMOVAL AND SUCCESSION OF TRUSTEE	 	52	 
	7.10	 	TRANSFER OF INTEREST	 	52	 
	7.11	 	TRUSTEE INDEMNIFICATION	 	53	 
	7.12	 	DIRECT ROLLOVER	 	53	 
	7.13	 	VOTING RIGHTS	 	53	 
	7.14	 	TENDER OFFERS AND OTHER OFFERS	 	54	 
	7.15	 	DISSENTERS’ RIGHTS	 	54	 
	7.16	 	EMPLOYER SECURITIES AND REAL PROPERTY	 	55	 


















ARTICLE VIII 
AMENDMENT, TERMINATION
AND MERGERS 


	8.1	 	AMENDMENT	 	56	 
	8.2	 	TERMINATION	 	56	 
	8.3	 	MERGER, CONSOLIDATION OR TRANSFER OF ASSETS	 	57	 






ARTICLE IX 
TOP HEAVY 


	9.1	 	TOP HEAVY PLAN REQUIREMENTS	 	58	 
	9.2	 	DETERMINATION OF TOP HEAVY STATUS	 	58	 






ARTICLE X 
MISCELLANEOUS 


	10.1	 	PARTICIPANT’S
      RIGHTS	 	61	 
	10.2	 	ALIENATION	 	61	 
	10.3	 	CONSTRUCTION
      OF PLAN	 	61	 
	10.4	 	GENDER AND
      NUMBER	 	61	 
	10.5	 	LEGAL ACTION	 	62	 
	10.6	 	PROHIBITION
      AGAINST DIVERSION OF FUNDS	 	62	 
	10.7	 	EMPLOYER’S
      AND TRUSTEE’S PROTECTIVE CLAUSE	 	62	 
	10.8	 	INSURER’S
      PROTECTIVE CLAUSE	 	62	 
	10.9	 	RECEIPT AND
      RELEASE FOR PAYMENTS	 	62	 
	10.10	 	ACTION BY
      THE EMPLOYER	 	63	 
	10.11	 	NAMED FIDUCIARIES
      AND ALLOCATION OF RESPONSIBILITY	 	63	 
	10.12	 	HEADINGS	 	63	 
	10.13	 	APPROVAL
      BY INTERNAL REVENUE SERVICE	 	63	 
	10.14	 	UNIFORMITY	 	63	 
	10.15	 	RE-EMPLOYED
      VETERANS FORMERLY EMPLOYED BY SCHENECTADY FEDERAL SAVINGS BANK	 	64	 






ARTICLE XI
PARTICIPATING EMPLOYERS 


	11.1	 	ADOPTION BY OTHER EMPLOYERS	 	65	 
	11.2	 	REQUIREMENTS OF PARTICIPATING EMPLOYERS	 	65	 
	11.3	 	DESIGNATION OF AGENT	 	65	 
	11.4	 	EMPLOYEE TRANSFERS	 	65	 
	11.5	 	PARTICIPATING EMPLOYER CONTRIBUTION AND FORFEITURES	 	65	 
	11.6	 	AMENDMENT	 	65	 
	11.7	 	DISCONTINUANCE OF PARTICIPATION	 	65	 
	11.8	 	ADMINISTRATOR’S AUTHORITY	 	66	 






















HUDSON RIVER BANK &
TRUST COMPANY 401(K) SAVINGS PLAN 



        THIS
AGREEMENT, hereby made and entered into this __________ day of
______________________________, by and between Hudson River Bank & Trust Company
(herein referred to as the “Employer”) and Hudson River Bank & Trust
Company (herein referred to as the “Trustee”).  





W I T N E S S E T H:  



        WHEREAS,
the Employer heretofore established a Profit Sharing Plan and Trust effective May 1, 1986,
(hereinafter called the “Effective Date”) known as The Hudson City Savings
Institution 401(k) Savings Plan in RSI Retirement Trust and which Plan shall hereinafter
be known as Hudson River Bank & Trust Company 401(k) Savings Plan (herein referred to
as the “Plan”). The Plan was established in recognition of the contribution made
to its successful operation by its employees and for the exclusive benefit of its eligible
employees; and 



        WHEREAS,
the Plan complies with all Internal Revenue Service legislation and regulations issued to
date addressing tax-qualified plans, including the Uniformed Services Employment and
Reemployment Rights Act of 1994, the Uruguay Round Agreements Act, the Small Business Job
Protection Act of 1996, the Taxpayer Relief Act of 1997, the IRS Restructuring and Reform
Act of 1998, the Community Renewal Tax Relief Act of 2000, and the Economic Growth and Tax
Relief Reconciliation Act of 2001. 



        WHEREAS,
under the terms of the Plan, the Employer has the ability to amend the Plan, provided the
Trustee joins in such amendment if the provisions of the Plan affecting the Trustee are
amended; 



        WHEREAS,
effective September 3, 1999 the Schenectady Federal Savings Bank merged into the Hudson
River Bank and Trust Company. In connection with the merger of the banks, effective
September 3, 1999, for any Employee who was employed by the Former Schenectady Federal
Savings Bank on September 2, 1999 and who became an Employee of the Employer on September
3, 1999 (“Former Schenectady Federal Savings Bank Employee”), all service with
the Former Schenectady Federal Saving Bank is recognized for both vesting and eligibility
to participate under this Plan. In addition, effective September 3, 1999, any Former
Schenectady Federal Savings Bank Employee who was a Participant in the Schenectady Federal
Savings Bank 401(k) Savings Plan in RSI Retirement Trust (the “Schenectady
Plan”) becomes a Participant of the Plan. In addition, hourly paid employees of the
Former Schenectady Federal Savings Bank are eligible for participation upon meeting the
Plan eligibility requirements. 



        WHEREAS,
effective October 1, 1999, the Schenectady Plan is merged with and into the Plan and all
assets and liabilities of the Schenectady Plan are transferred into the Plan. 



        WHEREAS,
effective August 1, 2001, the Cohoes Savings Bank Corporation merged into the Hudson River
Bank and Trust Company. In connection with the merger of the banks, effective August 1,
2001, for any Employee who was employed by the Former Cohoes Savings Bank Corporation on
July 31, 2001 and who became an Employee of the Employer on August 1, 2001 (“Former
Cohoes Savings Bank Corporation Employee”), all service with the Former Cohoes
Savings Bank Corporation is recognized for both vesting and eligibility to participate
under this Plan. In addition, effective August 1, 2001, any Former Cohoes Savings Bank
Corporation Employee who was a Participant in the Cohoes Savings Bank Corporation 401(k)
Plan at RSI (the “Cohoes Plan”) becomes a Participant of the plan. In addition,
hourly paid employees of the Former Cohoes Savings Bank Corporation are eligible for
participation upon meeting the Plan eligibility requirement. 



        WHEREAS,
with respect to Former Schenectady Federal Savings Bank Employees and Former Cohoes
Savings Bank Corporation Employees, all benefits set forth in the prior plan document as
protected benefits shall be preserved hereunder. 



        NOW,
THEREFORE, effective January 1, 2002, except as otherwise provided, the Employer and the
Trustee in accordance with the provisions of the Plan pertaining to amendments thereof,
hereby amend the Plan in its entirety and restate the Plan to provide as follows: 
















ARTICLE I 
DEFINITIONS 



        1.1
“Act” means the Employee Retirement Income Security Act of 1974, as it may be
amended from time to time. 



        1.2
“Administrator” means the Employer unless another person or entity has been
designated by the Employer pursuant to Section 2.2 to administer the Plan on behalf of the
Employer. 



        1.3
“Affiliated Employer” means any corporation which is a member of a controlled
group of corporations (as defined in Code Section 414(b)) which includes the Employer; any
trade or business (whether or not incorporated) which is under common control (as defined
in Code Section 414(c)) with the Employer; any organization (whether or not incorporated)
which is a member of an affiliated service group (as defined in Code Section 414(m)) which
includes the Employer; and any other entity required to be aggregated with the Employer
pursuant to Regulations under Code Section 414(o). 



        1.4
“Aggregate Account” means, with respect to each Participant, the value of all
accounts maintained on behalf of a Participant, whether attributable to Employer or
Employee contributions, subject to the provisions of Section 9.2. 



        1.5
     “Anniversary Date” means the last day of the Plan Year. 





        1.6
“Beneficiary” means the person (or entity) to whom the share of a deceased
Participant’s total account is payable, subject to the restrictions of Sections 6.2
and 6.6. 



        1.7
     “Code” means the Internal Revenue Code of 1986, as amended or replaced from time to
time. 





        1.8
“Compensation” with respect to any Participant means such Participant’s
wages as defined in Code Section 3401(a) and all other payments of compensation by the
Employer (in the course of the Employer’s trade or business) for a Plan Year for
which the Employer is required to furnish the Participant a written statement under Code
Sections 6041(d), 6051(a)(3) and 6052. Compensation must be determined without regard to
any rules under Code Section 3401(a) that limit the remuneration included in wages based
on the nature or location of the employment or the services performed (such as the
exception for agricultural labor in Code Section 3401(a)(2)).  





        Prior
to April 11, 2001, Compensation means the base compensation receivable by an Employee
from the Employer for the calendar year prior to any reduction pursuant to a Compensation
Reduction Agreement. Base compensation shall include salary, Base-Tax Contributions,
wages and wage continuation payments to an Employee who is absent due to illness or
disability of a short-term nature, and exclude overtime, commissions, expense allowances,
severance pay, fees, bonuses, contributions made by the Employer to any other pension,
insurance, welfare, or other employee benefit plan. In lieu of any other Compensation
paid to sales commission Employees, hereunder, Compensation shall include only draw
against commissions paid to such sales commission Employees.  





        For
purposes of this Section, the determination of Compensation shall be made by: 



	 	        (a)                      including
amounts which are contributed by the Employer pursuant to a salary
               reduction agreement and which are not includible in the gross income of
the                Participant under Code Sections 125, 132(f)(4) for Plan Years
beginning after                December 31, 2000, 402(e)(3), 402(h)(1)(B), 403(b) or
457(b), and Employee                contributions described in Code Section 414(h)(2)
that are treated as Employer                contributions.  







        For
a Participant’s initial year of participation, Compensation shall be recognized as of
such Employee’s effective date of participation in the component of the Plan for
which Compensation is being used pursuant to Section 3.2. 






2 















        Compensation
in excess of $150,000 (or such other amount provided in the Code) shall be disregarded for
all purposes other than for purposes of salary deferral elections pursuant to
Section 4.2. Such amount shall be adjusted for increases in the cost of living in
accordance with Code Section 401(a)(17)(B), except that the dollar increase in effect
on January 1 of any calendar year shall be effective for the Plan Year beginning with
or within such calendar year. For any short Plan Year the Compensation limit shall be an
amount equal to the Compensation limit for the calendar year in which the Plan Year begins
multiplied by the ratio obtained by dividing the number of full months in the short Plan
Year by twelve (12). 



        For
Plan Years beginning after December 31, 1996, for purposes of determining
Compensation, the family member aggregation rules of Code Section 401(a)(17) and Code
Section 414(q)(6) (as in effect prior to the Small Business Job Protection Act of 1996)
are eliminated. 



        If
any class of Employees is excluded from the Plan, then Compensation for any Employee who
becomes eligible or ceases to be eligible to participate during a Plan Year shall only
include Compensation while the Employee is an Eligible Employee. 



        For
purposes of this Section, if the Plan is a plan described in Code Section 413(c) or
414(f) (a plan maintained by more than one Employer), the limitation applies separately
with respect to the Compensation of any Participant from each Employer maintaining the
Plan. 



        1.9
“Contract” or “Policy” means any life insurance policy, retirement
income policy or annuity contract (group or individual) issued pursuant to the terms of
the Plan. In the event of any conflict between the terms of this Plan and the terms of any
contract purchased hereunder, the Plan provisions shall control. 



        1.10
“Deferred Compensation” with respect to any Participant means the amount of the
Participant’s total Compensation which has been contributed to the Plan in accordance
with the Participant’s deferral election pursuant to Section 4.2 excluding any such
amounts distributed as excess “annual additions” pursuant to Section 4.10(a). 



        1.11
“Designated Investment Alternative” means a specific investment identified by
name by the Employer (or such other Fiduciary who has been given the authority to select
investment options) as an available investment under the Plan to which Plan assets may be
invested by the Trustee pursuant to the investment direction of a Participant. 



        1.12
    “Directed Investment Option” means one or more of the following: 





	 	        (a)
             a Designated Investment Alternative.
       






	 	        (b)                      any
other investment permitted by the Plan and the Participant Direction
               Procedures to which Plan assets may be invested by the Trustee pursuant to
the                investment direction of a Participant.  







        1.13
“Early Retirement Date” means the first day of any month (prior to the Normal
Retirement Date) coinciding with or following the Participant’s completion of a
minimum of five (5) consecutive years of credited service with the Employer, provided (a)
the Participant has attained age sixty (60) or (b) the sum of the Participant’s
attained age and vested service equals or exceeds seventy-five (75) years. For purposes of
this section 1.13, credited service and vested service mean credited service and vested
service as defined under the Employer’s defined benefit retirement plan. 



        A
Participant shall become fully vested upon satisfying this requirement if still employed
on his Early Retirement Date. 



        Notwithstanding
the above, in the case of any Former Schenectady Federal Savings Bank Employee, who had
been a Participant in the Former Schenectady Federal Savings Bank 401(k) Plan as it
existed prior to the merger, “Early Retirement Date” shall be the earlier of (a)
the date set forth above or (b) the first day of any month coincident with or following
the Participant’s attainment of age fifty-five (55). 



        A
Former Participant who separates from service after satisfying the service requirement for
Early Retirement and who thereafter reaches the age requirement contained herein shall be
entitled to receive benefits under this Plan. 






3 


















        1.14
“Elective Contribution” means the Employer contributions to the Plan of Deferred
Compensation excluding any such amounts distributed as excess “annual additions”
pursuant to Section 4.10(a). In addition, any Employer Qualified Non-Elective Contribution
made pursuant to Section 4.6(b) which is used to satisfy the “Actual Deferral
Percentage” tests shall be considered an Elective Contribution for purposes of the
Plan. Any contributions deemed to be Elective Contributions (whether or not used to
satisfy the “Actual Deferral Percentage” tests or the “Actual Contribution
Percentage” tests) shall be subject to the requirements of Sections 4.2(b) and 4.2(c)
and shall further be required to satisfy the nondiscrimination requirements of Regulation
1.401(k)-1(b)(5) and Regulation 1.401(m)-1(b)(5), the provisions of which are specifically
incorporated herein by reference. 



        1.15
“Eligible Employee” means any Employee who is classified as a salaried Employee;
or classified as a sales commission Employee; or commencing September 1, 1997, classified
as an hourly paid Employee. The following classes of Employees are ineligible to
participate in the Plan: Employees compensated on an hourly, daily, fee, or retainer basis
and commencing September 1, 1997, the exclusion for Employees compensated on an hourly
basis shall no longer apply. 



        Employees
who are Leased Employees within the meaning of Code Sections 414(n)(2) and 414(o)(2)
shall not be eligible to participate in this Plan. 



        Employees
whose employment is governed by the terms of a collective bargaining agreement between
Employee representatives (within the meaning of Code Section 7701(a)(46)) and the
Employer under which retirement benefits were the subject of good faith bargaining between
the parties will not be eligible to participate in this Plan unless such agreement
expressly provides for coverage in this Plan. 



        Employees
of Affiliated Employers shall not be eligible to participate in this Plan unless such
Affiliated Employers have specifically adopted this Plan in writing. 



        Employees
classified by the Employer as independent contractors who are subsequently determined by
the Internal Revenue Service to be Employees shall not be Eligible Employees. 



        1.16
“Employee” means any person who is employed by the Employer or Affiliated
Employer, and excludes any person who is employed as an independent contractor. Employee
shall include Leased Employees within the meaning of Code Sections 414(n)(2) and
414(o)(2) unless such Leased Employees are covered by a plan described in Code
Section 414(n)(5) and such Leased Employees do not constitute more than 20% of the
recipient’s non-highly compensated work force. 



        1.17
“Employer” means Hudson River Bank & Trust Company and any successor which
shall maintain this Plan; and any predecessor which has maintained this Plan. The Employer
is a corporation, with principal offices in the State of New York. In addition, where
appropriate, the term Employer shall include any Participating Employer (as defined in
Section 11.1) which shall adopt this Plan. 



        1.18
“Excess Aggregate Contributions” means, with respect to any Plan Year, the
excess of the aggregate amount of the Employer matching contributions made pursuant to
Section 4.1(b) and any qualified non-elective contributions or elective deferrals taken
into account pursuant to Section 4.7(c) on behalf of Highly Compensated Participants for
such Plan Year, over the maximum amount of such contributions permitted under the
limitations of Section 4.7(a) (determined by hypothetically reducing contributions made on
behalf of Highly Compensated Participants in order of the actual contribution ratios
beginning with the highest of such ratios). Such determination shall be made after first
taking into account corrections of any Excess Deferred Compensation pursuant to
Section 4.2 and taking into account any adjustments of any Excess Contributions
pursuant to Section 4.6. 



        1.19
    “Employer Stock” means the common stock of Hudson River Bank and Trust Company. 





        1.20
“Employer Stock Fund” means the separate assets consisting of Employer Stock
which shall be maintained in an account established for such purposes. 



        1.21
“Excess Contributions” means, with respect to a Plan Year, the excess of
Elective Contributions used to satisfy the “Actual Deferral Percentage” tests
made on behalf of Highly Compensated Participants for the Plan Year over the maximum
amount of such contributions permitted under Section 4.5(a) (determined by hypothetically
reducing contributions made on behalf of Highly Compensated Participants in order of the
actual deferral ratios beginning with the highest of such ratios). Excess Contributions
shall be treated as an “annual addition” pursuant to Section 4.9(b). 





4 
















        1.22
“Excess Deferred Compensation” means, with respect to any taxable year of a
Participant, the excess of the aggregate amount of such Participant’s Deferred
Compensation and the elective deferrals pursuant to Section 4.2(f) actually made on behalf
of such Participant for such taxable year, over the dollar limitation provided for in Code
Section 402(g), which is incorporated herein by reference. Excess Deferred
Compensation shall be treated as an “annual addition” pursuant to Section 4.9(b)
when contributed to the Plan unless distributed to the affected Participant not later than
the first April 15th following the close of the Participant’s taxable year.
Additionally, for purposes of Sections 9.2 and 4.4(f), Excess Deferred Compensation shall
continue to be treated as Employer contributions even if distributed pursuant to Section
4.2(f). However, Excess Deferred Compensation of Non-Highly Compensated Participants is
not taken into account for purposes of Section 4.5(a) to the extent such Excess Deferred
Compensation occurs pursuant to Section 4.2(d). 



        1.23
“Fiduciary” means any person who (a) exercises any discretionary authority or
discretionary control respecting management of the Plan or exercises any authority or
control respecting management or disposition of its assets, (b) renders investment
advice for a fee or other compensation, direct or indirect, with respect to any monies or
other property of the Plan or has any authority or responsibility to do so, or
(c) has any discretionary authority or discretionary responsibility in the
administration of the Plan. 



        1.24
“Fiscal Year” means the Employer’s accounting year of 12 months commencing
on April 1 of each year and ending the following March 31. 



        1.25
“Forfeiture” means that portion of a Participant’s Account that is not
Vested, and occurs on the date of his Termination of Service. Furthermore, in the case of
a Terminated Participant whose vested benefit is zero, such Terminated Participant’s
nonvested account shall be forfeited as of his termination of employment. Any forfeited
amounts shall be reinstated pursuant to Section 3.7. 



        Regardless
of the preceding provisions, if a Former Participant is eligible to share in the
allocation of Employer contributions or Forfeitures in the year in which the Forfeiture
would otherwise occur, then the Forfeiture will not occur until the end of the first Plan
Year for which the Former Participant is not eligible to share in the allocation of
Employer contributions or Forfeitures. Furthermore, the term “Forfeiture” shall
also include amounts deemed to be Forfeitures pursuant to any other provision of this
Plan. 



        1.26
    “Former Participant” means a person who has been a Participant, but who has ceased to
be a Participant for any reason. 





        1.27
“415 Compensation” with respect to any Participant means such Participant’s
wages as defined in Code Section 3401(a) and all other payments of compensation by
the Employer (in the course of the Employer’s trade or business) for a Plan Year for
which the Employer is required to furnish the Participant a written statement under Code
Sections 6041(d), 6051(a)(3) and 6052. “415 Compensation” must be determined
without regard to any rules under Code Section 3401(a) that limit the remuneration
included in wages based on the nature or location of the employment or the services
performed (such as the exception for agricultural labor in Code Section 3401(a)(2)). 



        For
“limitation years” beginning after December 31, 1997, for purposes of this
Section, the determination of “415 Compensation” shall include any elective
deferral (as defined in Code Section 402(g)(3)), and any amount which is contributed or
deferred by the Employer at the election of the Participant and which is not includible in
the gross income of the Participant by reason of Code Sections 125, 132(f)(4) for
“limitation years” beginning after December 31, 2000 or 457. 



        1.28
“414(s) Compensation” means any definition of compensation that satisfies the
nondiscrimination requirements of Code Section 414(s) and the Regulations thereunder. The
period for determining 414(s) Compensation must be either the Plan Year or the calendar
year ending with or within the Plan Year. An Employer may further limit the period taken
into account to that part of the Plan Year or calendar year in which an Employee was a
Participant in the component of the Plan being tested. The period used to determine 414(s)
Compensation must be applied uniformly to all Participants for the Plan Year. 



        For
Plan Years beginning after December 31, 1996, for purposes of this Section, the
family member aggregation rules of Code Section 414(q)(6) (as in effect prior to the Small
Business Job Protection Act of 1996) are eliminated. 




5 
















        1.29
“Highly Compensated Employee” means, for Plan Years beginning after
December 31, 1996, an Employee described in Code Section 414(q) and the
Regulations thereunder, and generally means any Employee who: 



		
          (a)          was
        a “five percent owner” as defined in Section 1.34(c) at
        any time during the “determination year” or the “look-back
        year”; or 

    






		
          (b)          for
        the “look-back year” had “415 Compensation” from the
        Employer in excess of $80,000 and was in the Top-Paid Group for the “look-back
        year”. The $80,000 amount is adjusted at the same time and in the
        same manner as under Code Section 415(d), except that the base period
        is the calendar quarter ending September 30, 1996. 

    






        The
“determination year” means the Plan Year for which testing is being performed,
and the “look-back year” means the immediately preceding twelve (12) month
period. 



        A
highly compensated former Employee is based on the rules applicable to determining Highly
Compensated Employee status as in effect for the “determination year,” in
accordance with Regulation 1.414(q)-1T, A-4 and IRS Notice 97-45 (or any superseding
guidance). 



        In
determining whether an Employee is a Highly Compensated Employee for a Plan Year beginning
in 1997, the amendments to Code Section 414(q) stated above are treated as having been in
effect for years beginning in 1996. 



        For
purposes of this Section, for Plan Years beginning prior to January 1, 1998, the
determination of “415 Compensation” shall be made by including amounts that
would otherwise be excluded from a Participant’s gross income by reason of the
application of Code Sections 125, 402(e)(3), 402(h)(1)(B), and, in the case of
Employer contributions made pursuant to a salary reduction agreement, Code Section 403(b). 



        In
determining who is a Highly Compensated Employee, Employees who are non-resident aliens
and who received no earned income (within the meaning of Code Section 911(d)(2)) from
the Employer constituting United States source income within the meaning of Code
Section 861(a)(3) shall not be treated as Employees. Additionally, all Affiliated
Employers shall be taken into account as a single employer and Leased Employees within the
meaning of Code Sections 414(n)(2) and 414(o)(2) shall be considered Employees unless
such Leased Employees are covered by a plan described in Code Section 414(n)(5) and
are not covered in any qualified plan maintained by the Employer. The exclusion of Leased
Employees for this purpose shall be applied on a uniform and consistent basis for all of
the Employer’s retirement plans. Highly Compensated Former Employees shall be treated
as Highly Compensated Employees without regard to whether they performed services during
the “determination year.” 



        1.30
“Highly Compensated Participant” means any Highly Compensated Employee who is
eligible to participate in the component of the Plan being tested. 



        1.31
“Hour of Service” means each hour for which an Employee is paid or entitled to
payment for the performance of duties for the Employer. 



        1.32
“Income” means the income or losses allocable to Excess Deferred Compensation,
Excess Contributions or Excess Aggregate Contributions which amount shall be allocated in
the same manner as income or losses are allocated pursuant to Section 4.4(e). 



        1.33
“Investment Manager” means an entity that (a) has the power to manage,
acquire, or dispose of Plan assets and (b) acknowledges fiduciary responsibility to
the Plan in writing. Such entity must be a person, firm, or corporation registered as an
investment adviser under the Investment Advisers Act of 1940, a bank, or an insurance
company. 



        1.34
“Key Employee” means an Employee as defined in Code Section 416(i) and the
Regulations thereunder. Generally, any Employee or former Employee (as well as each of the
Employee’s or former Employee’s Beneficiaries) is considered a Key Employee if
the Employee, at any time during the Plan Year that contains the “Determination
Date” or any of the preceding four (4) Plan Years, has been included in one of the
following categories: 





6 



















	 	        (a)                      an
officer of the Employer (as that term is defined within the meaning of the
               Regulations under Code Section 416) having annual “415
               Compensation” greater than 50 percent of the amount in effect under
Code                Section 415(b)(1)(A) for any such Plan Year.  







	 	        (b)                      one
of the ten employees having annual “415 Compensation” from the
               Employer for a Plan Year greater than the dollar limitation in effect
under Code                Section 415(c)(1)(A) for the calendar year in which such
Plan Year ends and                owning (or considered as owning within the meaning of
Code Section 318) both                more than one-half percent interest and the largest
interests in the Employer.  







	 	        (c)                      a
“five percent owner” of the Employer. “Five percent owner”               means
any person who owns (or is considered as owning within the meaning of Code
               Section 318) more than five percent (5%) of the outstanding stock of the
               Employer or stock possessing more than five percent (5%) of the total
combined                voting power of all stock of the Employer or, in the case of an
unincorporated                business, any person who owns more than five percent (5%)
of the capital or                profits interest in the Employer. In determining
percentage ownership hereunder,                employers that would otherwise be
aggregated under Code Sections 414(b),                (c), (m) and (o) shall be
treated as separate employers.  







	 	        (d)                      a
“one percent owner” of the Employer having an annual “415
               Compensation” from the Employer of more than $150,000. “One
percent                owner” means any person who owns (or is considered as owning
within the                meaning of Code Section 318) more than one percent (1%) of
the outstanding                stock of the Employer or stock possessing more than one
percent (1%) of the                total combined voting power of all stock of the
Employer or, in the case of an                unincorporated business, any person who
owns more than one percent (1%) of the                capital or profits interest in the
Employer. In determining percentage ownership                hereunder, employers that
would otherwise be aggregated under Code                Sections 414(b), (c), (m) and (o)
shall be treated as separate                employers. However, in determining whether an
individual has “415                Compensation” of more than $150,000, “415
Compensation” from each                employer required to be aggregated under Code
Sections 414(b), (c), (m)                and (o) shall be taken into account.  







        For
purposes of this Section, the determination of “415 Compensation” shall be made
by including amounts which are contributed by the Employer pursuant to a salary reduction
agreement and which are not includible in the gross income of the Participant under Code
Sections 125, 132(f)(4) for Plan Years beginning after December 31, 2000, 402(e)(3),
402(h)(1)(B), 403(b) or 457(b), and Employee contributions described in Code
Section 414(h)(2) that are treated as Employer contributions. 



        1.35
“Late Retirement Date” means the first day of the month coinciding with or next
following a Participant’s actual Retirement Date after having reached Normal
Retirement Date. 



        1.36
“Leased Employee” means, for Plan Years beginning after December 31, 1996,
any person (other than an Employee of the recipient Employer) who pursuant to an agreement
between the recipient Employer and any other person or entity (“leasing
organization”) has performed services for the recipient (or for the recipient and
related persons determined in accordance with Code Section 414(n)(6)) on a
substantially full time basis for a period of at least one year, and such services are
performed under primary direction or control by the recipient Employer. Contributions or
benefits provided a Leased Employee by the leasing organization which are attributable to
services performed for the recipient Employer shall be treated as provided by the
recipient Employer. Furthermore, Compensation for a Leased Employee shall only include
Compensation from the leasing organization that is attributable to services performed for
the recipient Employer. A Leased Employee shall not be considered an Employee of the
recipient Employer: 



	 	        (a)                      if
such employee is covered by a money purchase pension plan providing:  







	
      	(1)
           a nonintegrated employer contribution rate
      of at least 10% of compensation, as defined in Code Section 415(c)(3),
      but for Plan Years beginning prior to January 1, 1998, including amounts
      which are contributed by the Employer pursuant to a salary reduction agreement
      and which are not includible in the gross income of the Participant under
      Code Sections 125, 402(e)(3), 402(h)(1)(B), 403(b) or 457(b), and Employee
      contributions described in Code Section 414(h)(2) that are treated as Employer
      contributions, but for Plan Years beginning prior to January 1, 2001, excluding
      amounts that are not includible in gross income under Code Section 132(f)(4);
      







7 














	 	(2)
           immediate participation; 






	 	(3)
           full and immediate vesting; and 






	 	        (b)                      if
Leased Employees do not constitute more than 20% of the recipient                Employer’s
nonhighly compensated work force.  







        1.37
“Non-Elective Contribution” means the Employer contributions to the Plan
excluding, however, contributions made pursuant to the Participant’s deferral
election provided for in Section 4.2 and any Qualified Non-Elective Contribution used in
the “Actual Deferral Percentage” tests. 



        1.38
“Non-Highly Compensated Participant” means, for Plan Years beginning after
December 31, 1996, any Participant who is not a Highly Compensated Employee. However,
for purposes of Section 4.5(a) and Section 4.6, if the prior year testing method is
used, a Non-Highly Compensated Participant shall be determined using the definition of
Highly Compensated Employee in effect for the preceding Plan Year. 



        1.39
“Non-Key Employee” means any Employee or former Employee (and such
Employee’s or former Employee’s Beneficiaries) who is not, and has never been a
Key Employee. 



        1.40
“Normal Retirement Age” means the later of (a) the date an Employee attains age
sixty five (65) or (b) the date an Employee completes six (6) years of employment with the
Employer. A Participant shall become fully Vested in the Participant’s Account upon
attaining Normal Retirement Age. In the case of a Participant who had been a Participant
in the Former Schenectady Federal Savings Bank 401(k) Plan, “Normal Retirement
Age” shall mean the date such participant attains age sixty-five (65). 



        1.41
“Normal Retirement Date” means the first day of the month coinciding with or
next following the Participant’s Normal Retirement Age. 



        1.42
    “1-Year Break in Service” means a Period of Severance of at least 12 consecutive
months. 





        1.43
“Participant” means any Eligible Employee who participates in the Plan and has
not for any reason become ineligible to participate further in the Plan. 



        1.44
“Participant Direction Procedures” means such instructions, guidelines or
policies, the terms of which are incorporated herein, as shall be established pursuant to
Section 4.12 and observed by the Administrator and applied and provided to Participants
who have Participant Directed Accounts. 



        1.45
“Participant’s Account” means the account established and maintained by the
Administrator for each Participant with respect to such Participant’s total interest
in the Plan and Trust resulting from the Employer Non-Elective Contributions. 



        1.46
“Participant’s Combined Account” means the total aggregate amount of each
Participant’s Elective Account and Participant’s Account. 



        1.47
“Participant’s Directed Account” means that portion of a Participant’s
interest in the Plan with respect to which the Participant has directed the investment in
accordance with the Participant Direction Procedure. 



        1.48
“Participant’s Elective Account” means the account established and
maintained by the Administrator for each Participant with respect to the
Participant’s total interest in the Plan and Trust resulting from the Employer
Elective Contributions used to satisfy the “Actual Deferral Percentage” tests. A
separate accounting shall be maintained with respect to that portion of the
Participant’s Elective Account attributable to such Elective Contributions pursuant
to Section 4.2 and any Employer Qualified Non-Elective Contributions.
“Participant’s Elective Account” includes amounts transferred from
Participant Elective Accounts under the Former Schenectady Federal Savings Bank 401(k)
Plan and the Cohoes Savings Bank Corporation 401(k) Plan. 



        1.49
“Participant’s Transfer/Rollover Account” means the account established and
maintained by the Administrator for each Participant with respect to the
Participant’s total interest in the Plan resulting from amounts transferred to this
Plan from a direct plan-to-plan transfer and/or with respect to such Participant’s
interest in the Plan resulting from amounts transferred from another qualified plan or
“conduit” Individual Retirement Account in accordance with Section 4.11. 





8 


















        A
separate accounting shall be maintained with respect to that portion of the
Participant’s Transfer/Rollover Account attributable to transfers (within the meaning
of Code Section 414(l)) and “rollovers.” 



        1.50
“Period of Service” means the aggregate of all periods commencing with the
Employee’s first day of employment or reemployment with the Employer or Affiliated
Employer and ending on the date a 1-Year Break in Service begins. The first day of
employment or reemployment is the first day the Employee performs an Hour of Service. An
Employee will also receive partial credit for any Period of Severance of less than twelve
(12) consecutive months. Fractional periods of a year will be expressed in terms of
days. 



        For
any Employee who was employed by Schenectady Federal Savings Bank on September 2, 1999 who
became an Employee of the Employer on September 3, 1999, Periods of Service with
Schenectady Federal Savings Bank shall be recognized for purposes of eligibility and
vesting. 



        For
any Employee who was employed by Cohoes Savings Bank Corporation on July 31, 2001 who
became an Employee of the Employer on August 1, 2001, Periods of Service with Cohoes
Savings Bank Corporation shall be recognized for purposes of eligibility and vesting. 



        1.51
“Period of Severance” means a continuous period of time during which the
Employee is not employed by the Employer. Such period begins on the date the Employee
retires, quits or is discharged, or if earlier, the twelve (12) month anniversary of the
date on which the Employee was otherwise first absent from service.  





        In
the case of an individual who is absent from work for maternity or paternity reasons, the
twelve (12) consecutive month period beginning on the first anniversary of the first day
of such absence shall not constitute a 1-Year Break in Service. For purposes of this
paragraph, an absence from work for maternity or paternity reasons means an absence
(a) by reason of the pregnancy of the individual, (b) by reason of the birth of
a child of the individual, (c) by reason of the placement of a child with the
individual in connection with the adoption of such child by such individual, or
(d) for purposes of caring for such child for a period beginning immediately
following such birth or placement. 



        1.52
    “Plan” means this instrument, including all amendments thereto. 





        1.53
“Plan Year” means the Plan’s accounting year of twelve (12) months
commencing on January 1 of each year and ending the following December 31. 



        1.54
“Qualified Non-Elective Contribution” means any Employer contributions made
pursuant to Section 4.6(b) and Section 4.8(f). Such contributions shall be considered an
Elective Contribution for the purposes of the Plan and used to satisfy the “Actual
Deferral Percentage” tests or the “Actual Contribution Percentage” tests. 



        1.55
“Regulation” means the Income Tax Regulations as promulgated by the Secretary of
the Treasury or a delegate of the Secretary of the Treasury, and as amended from time to
time. 



        1.56
“Retired Participant” means a person who has been a Participant, but who has
become entitled to retirement benefits under the Plan. 



        1.57
“Retirement Date” means the date as of which a Participant retires for reasons
other than Total and Permanent Disability, whether such retirement occurs on a
Participant’s Normal Retirement Date, Early or Late Retirement Date (see Section
6.1). 



        1.58
“Terminated Participant” means a person who has been a Participant, but whose
employment has been terminated other than by death, Total and Permanent Disability or
retirement. 



        1.59
    “Top Heavy Plan” means a plan described in Section 9.2(a). 





        1.60
    “Top Heavy Plan Year” means a Plan Year during which the Plan is a Top Heavy Plan. 





        1.61
“Top-Paid Group” means the top 20 percent of Employees who performed services
for the Employer during the applicable year, ranked according to the amount of “415
Compensation” received from the Employer during such year. All Affiliated Employers
shall be taken into account as a single employer, and Leased Employees within the meaning
of Code Sections 414(n)(2) and 414(o)(2) shall be considered Employees unless such
Leased Employees are covered by a plan described in Code Section 414(n)(5) and are
not covered in any qualified plan maintained by the Employer. Employees who are
non-resident aliens who received no earned income (within the meaning of Code
Section 911(d)(2)) from the Employer constituting United States source income within
the meaning of Code Section 861(a)(3) shall not be treated as Employees. Furthermore,
for the purpose of determining the number of active Employees in any year, the following
additional Employees shall also be excluded, however, such Employees shall still be
considered for the purpose of identifying the particular Employees in the Top-Paid Group: 





9 
















		    (a)                     Employees
with less than six (6) months of service;  







		    (b)                     Employees
who normally work less than 17 1/2 hours per week;  







		    (c)                     Employees
who normally work less than six (6) months during a year; and  







		
          (d)            Employees
        who have not yet attained age twenty-one (21). 

    






        In
addition, if 90 percent or more of the Employees of the Employer are covered under
agreements the Secretary of Labor finds to be collective bargaining agreements between
Employee representatives and the Employer, and the Plan covers only Employees who are not
covered under such agreements, then Employees covered by such agreements shall be excluded
from both the total number of active Employees as well as from the identification of
particular Employees in the Top-Paid Group. 



        The
foregoing exclusions set forth in this Section shall be applied on a uniform and
consistent basis for all purposes for which the Code Section 414(q) definition is
applicable. 



        1.62
“Total and Permanent Disability” means a physical or mental condition,
determined after review of those medical reports deemed satisfactory for this purpose,
which renders him incapable of continuing any substantial gainful employment based on
education, training an experience. The determination shall be applied uniformly to all
Participants. 



        1.63
“Trustee” means the person or entity named as trustee herein or in any separate
trust forming a part of this Plan, and any successors. 



        1.64
    “Trust Fund” means the assets of the Plan and Trust as the same shall exist from time
to time.  





        1.65
“Valuation Date” means the Anniversary Date and may include any other date or
dates deemed necessary or appropriate by the Administrator for the valuation of the
Participants’ accounts during the Plan Year, which may include any day that the
Trustee, any transfer agent appointed by the Trustee or the Employer or any stock exchange
used by such agent, are open for business. 



        1.66
“Vested” means the nonforfeitable portion of any account maintained on behalf of
a Participant. 






10 
















ARTICLE II
ADMINISTRATION 



	2.1  	POWERS
AND RESPONSIBILITIES OF THE EMPLOYER  






	 	        (a)                      In
addition to the general powers and responsibilities otherwise provided for in
               this Plan, the Employer shall be empowered to appoint and remove the
Trustee and                the Administrator from time to time as it deems necessary for
the proper                administration of the Plan to ensure that the Plan is being
operated for the                exclusive benefit of the Participants and their
Beneficiaries in accordance with                the terms of the Plan, the Code, and the
Act. The Employer may appoint counsel,                specialists, advisers, agents
(including any nonfiduciary agent) and other                persons as the Employer deems
necessary or desirable in connection with the                exercise of its fiduciary
duties under this Plan. The Employer may compensate                such agents or
advisers from the assets of the Plan as fiduciary expenses (but                not
including any business (settlor) expenses of the Employer), to the extent
               not paid by the Employer.  







	 	        (b)                      The
Employer shall establish a “funding policy and method,” i.e., it
               shall determine whether the Plan has a short run need for liquidity (e.g.,
to                pay benefits) or whether liquidity is a long run goal and investment
growth (and                stability of same) is a more current need, or shall appoint a
qualified person                to do so. The Employer or its delegate shall communicate
such needs and goals to                the Trustee, who shall coordinate such Plan needs
with its investment policy.                The communication of such a “funding
policy and method” shall not,                however, constitute a directive to the
Trustee as to the investment of the Trust                Funds. Such “funding policy
and method” shall be consistent with the                objectives of this Plan and
with the requirements of Title I of the Act.  







	 	        (c)                      The
Employer shall periodically review the performance of any Fiduciary or other
               person to whom duties have been delegated or allocated by it under the
               provisions of this Plan or pursuant to procedures established hereunder.
This                requirement may be satisfied by formal periodic review by the
Employer or by a                qualified person specifically designated by the Employer,
through day-to-day                conduct and evaluation, or through other appropriate
ways.  







	2.2  	DESIGNATION
OF ADMINISTRATIVE AUTHORITY 






        The
Employer shall be the Administrator. The Employer may appoint any person, including, but
not limited to, the Employees of the Employer, to perform the duties of the Administrator.
Any person so appointed shall signify acceptance by filing written acceptance with the
Employer. Upon the resignation or removal of any individual performing the duties of the
Administrator, the Employer may designate a successor. 



	2.3  	POWERS
AND DUTIES OF THE ADMINISTRATOR  






        The
primary responsibility of the Administrator is to administer the Plan for the exclusive
benefit of the Participants and their Beneficiaries, subject to the specific terms of the
Plan. The Administrator shall administer the Plan in accordance with its terms and shall
have the power and discretion to construe the terms of the Plan and to determine all
questions arising in connection with the administration, interpretation, and application
of the Plan. Any such determination by the Administrator shall be conclusive and binding
upon all persons. The Administrator may establish procedures, correct any defect, supply
any information, or reconcile any inconsistency in such manner and to such extent as shall
be deemed necessary or advisable to carry out the purpose of the Plan; provided, however,
that any procedure, discretionary act, interpretation or construction shall be done in a
nondiscriminatory manner based upon uniform principles consistently applied and shall be
consistent with the intent that the Plan shall continue to be deemed a qualified plan
under the terms of Code Section 401(a), and shall comply with the terms of the Act
and all regulations issued pursuant thereto. The Administrator shall have all powers
necessary or appropriate to accomplish the Administrator’s duties under the Plan. 



        The
Administrator shall be charged with the duties of the general administration of the Plan
as set forth under the terms of the Plan, including, but not limited to, the following: 



	 	        (a)                      the
discretion to determine all questions relating to the eligibility of
               Employees to participate or remain a Participant hereunder and to receive
               benefits under the Plan;  







11 


















	 	        (b)                      to
compute, certify, and direct the Trustee with respect to the amount and the
               kind of benefits to which any Participant shall be entitled hereunder;  







	 	        (c)                      to
authorize and direct the Trustee with respect to all discretionary or
               otherwise directed disbursements from the Trust;  







	 	        (d)                      to
maintain all necessary records for the administration of the Plan;  







	 	        (e)                      to
interpret the provisions of the Plan and to make and publish such rules for
               regulation of the Plan as are consistent with the terms hereof;  







	 	        (f)                      to
determine the size and type of any Contract to be purchased from any insurer,
               and to designate the insurer from which such Contract shall be purchased;  







	 	        (g)                      to
compute and certify to the Employer and to the Trustee from time to time the
               sums of money necessary or desirable to be contributed to the Plan;  







	 	        (h)                      to
consult with the Employer and the Trustee regarding the short and long-term
               liquidity needs of the Plan in order that the Trustee can exercise any
               investment discretion in a manner designed to accomplish specific
objectives;  







	 	        (i)                      to
prepare and implement a procedure to notify Eligible Employees that they may
               elect to have a portion of their Compensation deferred or paid to them in
cash;  







	 	        (j)                      to
act as the named Fiduciary responsible for communications with Participants
               as needed to maintain Plan compliance with Act Section 404(c), including,
but                not limited to, the receipt and transmitting of Participant’s
directions as                to the investment of their account(s) under the Plan and the
formulation of                policies, rules, and procedures pursuant to which
Participants may give                investment instructions with respect to the
investment of their accounts;  







	 	        (k)                      to
determine the validity of, and take appropriate action with respect to, any
               qualified domestic relations order received by it; and  







	 	        (l)                      to
assist any Participant regarding the Participant’s rights, benefits, or
               elections available under the Plan.  







	2.4  	RECORDS
AND REPORTS  






        The
Administrator shall keep a record of all actions taken and shall keep all other books of
account, records, policies, and other data that may be necessary for proper administration
of the Plan and shall be responsible for supplying all information and reports to the
Internal Revenue Service, Department of Labor, Participants, Beneficiaries and others as
required by law. 



	2.5  	APPOINTMENT
OF ADVISERS  






        The
Administrator, or the Trustee with the consent of the Administrator, may appoint counsel,
specialists, advisers, agents (including nonfiduciary agents) and other persons as the
Administrator or the Trustee deems necessary or desirable in connection with the
administration of this Plan, including but not limited to agents and advisers to assist
with the administration and management of the Plan, and thereby to provide, among such
other duties as the Administrator may appoint, assistance with maintaining Plan records
and the providing of investment information to the Plan’s investment fiduciaries and
to Plan Participants. 



	2.6  	PAYMENT
OF EXPENSES  






        All
expenses of administration may be paid out of the Trust Fund unless paid by the Employer.
Such expenses shall include any expenses incident to the functioning of the Administrator,
or any person or persons retained or appointed by any Named Fiduciary incident to the
exercise of their duties under the Plan, including, but not limited to, fees of
accountants, counsel, Investment Managers, agents (including nonfiduciary agents)
appointed for the purpose of assisting the Administrator or the Trustee in carrying out
the instructions of Participants as to the directed investment of their accounts and other
specialists and their agents, the costs of any bonds required pursuant to Act Section 412,
and other costs of administering the Plan. Until paid, the expenses shall constitute a
liability of the Trust Fund. 






12 

















	2.7  	CLAIMS
PROCEDURE  






        Claims
for benefits under the Plan may be filed in writing with the Administrator. Written notice
of the disposition of a claim shall be furnished to the claimant within ninety (90) days
after the application is filed, or such period as is required by applicable law or
Department of Labor regulation. In the event the claim is denied, the reasons for the
denial shall be specifically set forth in the notice in language calculated to be
understood by the claimant, pertinent provisions of the Plan shall be cited, and, where
appropriate, an explanation as to how the claimant can perfect the claim will be provided.
In addition, the claimant shall be furnished with an explanation of the Plan’s claims
review procedure. 



	2.8  	CLAIMS
REVIEW PROCEDURE  






        Any
Employee, former Employee, or Beneficiary of either, who has been denied a benefit by a
decision of the Administrator pursuant to Section 2.7 shall be entitled to request the
Administrator to give further consideration to a claim by filing with the Administrator a
written request for a hearing. Such request, together with a written statement of the
reasons why the claimant believes the claim should be allowed, shall be filed with the
Administrator no later than sixty (60) days after receipt of the written notification
provided for in Section 2.7. The Administrator may then conduct a hearing within the next
sixty (60) days, at which the claimant may be represented by an attorney or any other
representative of such claimant’s choosing and expense and at which the claimant
shall have an opportunity to submit written and oral evidence and arguments in support of
the claim. At the hearing (or prior thereto upon five (5) business days written notice to
the Administrator) the claimant or the claimant’s representative shall have an
opportunity to review all documents in the possession of the Administrator which are
pertinent to the claim at issue and its disallowance. Either the claimant or the
Administrator may cause a court reporter to attend the hearing and record the proceedings.
In such event, a complete written transcript of the proceedings shall be furnished to both
parties by the court reporter. The full expense of any such court reporter and such
transcripts shall be borne by the party causing the court reporter to attend the hearing.
A final decision as to the allowance of the claim shall be made by the Administrator
within sixty (60) days of receipt of the appeal (unless there has been an extension of
sixty (60) days due to special circumstances, provided the delay and the special
circumstances occasioning it are communicated to the claimant within the sixty (60) day
period). Such communication shall be written in a manner calculated to be understood by
the claimant and shall include specific reasons for the decision and specific references
to the pertinent Plan provisions on which the decision is based. 






13 

















ARTICLE III 
ELIGIBILITY 



	3.1  	CONDITIONS
OF ELIGIBILITY  






        Any
Eligible Employee who has completed a one (1) year Period of Service and has attained age
21 shall be eligible to participate hereunder as of the date such Employee has satisfied
such requirements. However, any Employee who was a Participant in the Plan prior to the
effective date of this amendment and restatement shall continue to participate in the
Plan. 



        Effective
September 3, 1999, all employment by a Former Schenectady Federal Savings Bank Employee,
with both the Former Schenectady Federal Savings Bank and with the Employer, shall be
deemed to be employment with the Employer for purposes of eligibility to participant in
the Plan. 



        Effective
September 3, 1999, any Former Schenectady Federal Savings Bank Employee who was a
Participant in the Former Schenectady Federal Savings Bank Corporation 401(k) Plan on
September 2, 1999, immediately became a Participant in the Plan on September 3, 1999. All
other Schenectady Federal Savings Bank Employees shall be eligible to participate in the
Plan and shall become Plan Participants upon meeting the eligibility requirements set
forth in this Section 3.1. 



        Effective
August 1, 2001, any Former Cohoes Savings Bank Corporation Employee who was a Participant
in the Former Cohoes Savings Bank Corporation 401(k) Plan at RSI on July 31, 2001,
immediately became a Participant in the Plan on August 1, 2001. All other Former Cohoes
Savings Bank Corporation Employee shall be eligible to participate in the Plan and shall
become Plan Participants upon meeting the eligibility requirements set forth in this
Section 3.1. 



	3.2  	EFFECTIVE
DATE OF PARTICIPATION  






        An
Eligible Employee, shall become a Participant effective as of the first day of any payroll
period of any month after such Employee met the eligibility requirements of Section 3.1.
Any salary reduction election shall be evidenced by completing and filing the form
prescribed by the Administrator not less than ten (10) days prior to the date
participation is to commence. 



        Effective
September 3, 1999, any Former Schenectady Federal Savings Bank Employee who was a
Participant in the Former Schenectady Federal Savings Bank 401(k) Plan on September 2,
1999, shall immediately become a Participant in the Plan on September 3, 1999. 



        If
an Eligible Employee satisfies the Plan’s eligibility requirement conditions by
reason of recognition of service with a predecessor employer, such Employee will become a
Participant as of the day the Plan credits service with a predecessor employer or, if
later, the date the Employee would have otherwise entered the Plan had the service with
the predecessor employer been service with the Employer. 



        If
an Employee, who has satisfied the Plan’s eligibility requirements and would
otherwise have become a Participant, shall go from a classification of a noneligible
Employee to an Eligible Employee, such Employee shall become a Participant on the date
such Employee becomes an Eligible Employee or, if later, the date that the Employee would
have otherwise entered the Plan had the Employee always been an Eligible Employee. 



        If
an Employee, who has satisfied the Plan’s eligibility requirements and would
otherwise become a Participant, shall go from a classification of an Eligible Employee to
a noneligible class of Employees, such Employee shall become a Participant in the Plan on
the date such Employee again becomes an Eligible Employee, or, if later, the date that the
Employee would have otherwise entered the Plan had the Employee always been an Eligible
Employee. However, if such Employee incurs a 1-Year Break in Service, eligibility will be
determined under the Break in Service rules set forth in Section 3.7. 



	3.3  	DETERMINATION
OF ELIGIBILITY  






        The
Administrator shall determine the eligibility of each Employee for participation in the
Plan based upon information furnished by the Employer. Such determination shall be
conclusive and binding upon all persons, as long as the same is made pursuant to the Plan
and the Act. Such determination shall be subject to review pursuant to Section 2.8. 





14 
















	3.4  	TERMINATION
OF ELIGIBILITY  






        In
the event a Participant shall go from a classification of an Eligible Employee to an
ineligible Employee, such Former Participant shall continue to vest in the Plan for each
Period of Service completed while a noneligible Employee, until such time as the
Participant’s Account is forfeited or distributed pursuant to the terms of the Plan.
Additionally, the Former Participant’s interest in the Plan shall continue to share
in the earnings of the Trust Fund. 



	3.5  	OMISSION
OF ELIGIBLE EMPLOYEE  






        If,
in any Plan Year, any Employee who should be included as a Participant in the Plan is
erroneously omitted and discovery of such omission is not made until after a contribution
by the Employer for the year has been made and allocated, then the Employer shall make a
subsequent contribution, if necessary after the application of Section 4.4(c),
so that the omitted Employee receives a total amount which the Employee would have
received (including both Employer contributions and earnings thereon) had the Employee not
been omitted. Such contribution shall be made regardless of whether it is deductible in
whole or in part in any taxable year under applicable provisions of the Code. 



	3.6  	INCLUSION
OF INELIGIBLE EMPLOYEE  






        If,
in any Plan Year, any person who should not have been included as a Participant in the
Plan is erroneously included and discovery of such inclusion is not made until after a
contribution for the year has been made and allocated, the Employer shall be entitled to
recover the contribution made with respect to the ineligible person provided the error is
discovered within twelve (12) months of the date on which it was made. Otherwise, the
amount contributed with respect to the ineligible person shall constitute a Forfeiture for
the Plan Year in which the discovery is made. Notwithstanding the foregoing, any Deferred
Compensation made by an ineligible person shall be distributed to the person (along with
any earnings attributable to such Deferred Compensation). 



	3.7  	REHIRED
EMPLOYEES AND BREAKS IN SERVICE  






	 	        (a)                      If
any Participant becomes a Former Participant due to severance from employment
               with the Employer and is reemployed by the Employer before a 1-Year Break
in                Service occurs, the Former Participant shall become a Participant as of
the                reemployment date.  







	 	        (b)                      If
any Participant becomes a Former Participant due to severance from employment
               with the Employer and is reemployed after a 1-Year Break in Service has
               occurred, Periods of Service shall include Periods of Service prior to the
               1-Year Break in Service subject to the following rules:  







	 	 (1)       
      In the case of a Former Participant who under the Plan does not have a nonforfeitable
      right to any interest in the Plan resulting from Employer contributions,
      Periods of Service before a period of 1-Year Break in Service will not be
      taken into account if the number of consecutive 1-Year Breaks in Service
      equal or exceed the greater of (A) five (5) or (B) the aggregate
      number of pre-break Periods of Service. Such aggregate number of Periods
      of Service will not include any Periods of Service disregarded under the
      preceding sentence by reason of prior 1-Year Breaks in Service. 






	 	 (2)       
      A Former Participant shall participate in the Plan as of the date of reemployment.
      






	 	        (c)                      After
a Former Participant who has severed employment with the Employer incurs
               five (5) consecutive 1-Year Breaks in Service, the Vested portion of said
Former                Participant’s Account attributable to pre-break service shall
not be                increased as a result of post-break service. In such case, separate
accounts                will be maintained as follows:  







	 	 (1)      one
      account for nonforfeitable benefits attributable to pre-break service; and
      






	 	 (2)      one
      account representing the Participant’s Employer derived account balance
      in the Plan attributable to post-break service. 








15 
















	 	        (d)                      If
any Participant becomes a Former Participant due to severance of employment
               with the Employer and is reemployed by the Employer before five (5)
consecutive                1-Year Breaks in Service, and such Former Participant had
received a                distribution of the entire Vested interest prior to
reemployment, then the                forfeited account shall be reinstated only if the
Former Participant repays the                full amount which had been distributed. Such
repayment must be made before the                earlier of five (5) years after the
first date on which the Participant is                subsequently reemployed by the
Employer or the close of the first period of five                (5) consecutive 1-Year
Breaks in Service commencing after the distribution. If a                distribution
occurs for any reason other than a severance of employment, the                time for
repayment may not end earlier than five (5) years after the date of
               distribution. In the event the Former Participant does repay the full
amount                distributed, the undistributed forfeited portion of the Participant’s
               Account must be restored in full, unadjusted by any gains or losses
occurring                subsequent to the Valuation Date preceding the distribution. The
source for such                reinstatement may be Forfeitures occurring during the Plan
Year. If such source                is insufficient, then the Employer will contribute an
amount which is sufficient                to restore any such forfeited Accounts.  







	3.8  	ELECTION
NOT TO PARTICIPATE  






        An
Employee, for Plan Years beginning on or after the later of the adoption date or effective
date of this amendment and restatement, may, subject to the approval of the Employer,
elect voluntarily not to participate in the Plan. The election not to participate must be
irrevocable and communicated to the Employer, in writing, within a reasonable period of
time before the beginning of the first Plan Year. 






16 















ARTICLE IV 
CONTRIBUTION AND
ALLOCATION 



	4.1  	FORMULA
FOR DETERMINING EMPLOYER CONTRIBUTION  





                 For
  each Plan Year, the Employer shall contribute to the Plan: 



	 	        (a)                      The
amount of the total salary reduction elections of all Participants made
               pursuant to Section 4.2(a), which amount shall be deemed an Employer
Elective                Contribution.  







	 	        (b)                      On
behalf of each Participant who is eligible to share in matching contributions
               for the Plan Year, a matching contribution equal to 50% of each such
               Participant’s Deferred Compensation, which amount shall be deemed an
               Employer Non-Elective Contribution. 







	 	        Except,
however, in applying the matching percentage specified above, beginning September 3,
1999, only salary reductions up to 6% of payroll period Compensation shall be considered.
Prior to September 3, 1999, only salary reductions up to 4% of annual compensation were
considered.  







	 	        (c)                      Additionally,
to the extent necessary, the Employer shall contribute to the Plan                the
amount necessary to provide the top heavy minimum contribution. All
               contributions by the Employer shall be made in cash or in such property as
is                acceptable to the Trustee.  







	4.2  	PARTICIPANT’S
SALARY REDUCTION ELECTION  






	 	        (a)                      Beginning
May 7, 1998, each Participant may elect to defer from 2% to 15% of
               Compensation which would have been received in the Plan Year, but for the
               deferral election. Prior to May 7, 1998, deferrals were permitted from 2%
to                10%. A deferral election (or modification of an earlier election) may
not be                made with respect to Compensation which is currently available on
or before the                date the Participant executed such election. For purposes of
this Section,                Compensation shall be determined prior to any reductions
made pursuant to Code                Sections 125, 132(f)(4) for Plan Years beginning
after December 31, 2000,                402(e)(3), 402(h)(1)(B), 403(b) or 457(b), and
Employee contributions described                in Code Section 414(h)(2) that are
treated as Employer contributions. 







	 	        The
amount by which Compensation is reduced shall be that Participant’s Deferred
Compensation and be treated as an Employer Elective Contribution and allocated to that
Participant’s Elective Account.  








	 	        (b)
       The
balance in each Participant’s Elective Account shall be fully Vested           at
all times and, except as otherwise provided herein, shall not be subject to
          Forfeiture for any reason.  








	 	        (c)       Notwithstanding
anything in the Plan to the contrary, amounts held in the           Participant’s
Elective Account may not be distributable (including any           offset of loans)
earlier than:  









	 	(1)     a
      Participant’s separation from service, Total and Permanent Disability,
      or death; 








	 	(2)     a
      Participant’s attainment of age 59 1/2; 







	 	(3)     the
      termination of the Plan without the existence at the time of Plan termination
      of another defined contribution plan or the establishment of a successor
      defined contribution plan by the Employer or an Affiliated Employer within
      the period ending twelve months after distribution of all assets from the
      Plan maintained by the Employer. For this purpose, a defined contribution
      plan does not include an employee stock ownership plan (as defined in Code
      Section 4975(e)(7) or 409), a simplified employee pension plan (as defined
      in Code Section 408(k)), or a simple individual retirement account
      plan (as defined in Code Section 408(p)); 








	 	(4)     the
      date of disposition by the Employer to an entity that is not an Affiliated
      Employer of substantially all of the assets (within the meaning of Code
      Section 409(d)(2)) used in a trade or business of such corporation
      if such corporation continues to maintain this Plan after the disposition
      with respect to a Participant who continues employment with the corporation
      acquiring such assets; 







17 
















	 	(5)     the
      date of disposition by the Employer or an Affiliated Employer who maintains
      the Plan of its interest in a subsidiary (within the meaning of Code Section 409(d)(3))
      to an entity which is not an Affiliated Employer but only with respect to
      a Participant who continues employment with such subsidiary; or 






	 	(6)
           the proven financial hardship of a Participant,
      subject to the limitations of Section 6.11. 






	 	        (d)
                  For each Plan Year, a Participant’s
Deferred Compensation made under this           Plan and all other plans, contracts or
arrangements of the Employer maintaining           this Plan shall not exceed, during any
taxable year of the Participant, the           limitation imposed by Code Section 402(g),
as in effect at the beginning of           such taxable year. If such dollar limitation
is exceeded, a Participant will be           deemed to have notified the Administrator of
such excess amount which shall be           distributed in a manner consistent with
Section 4.2(f). The dollar limitation           shall be adjusted annually pursuant to
the method provided in Code           Section 415(d) in accordance with
Regulations.  







	 	        (e)
                  In the event a Participant has
received a hardship distribution from the           Participant’s Elective Account
pursuant to Section 6.11(b) or pursuant to           Regulation 1.401(k)-1(d)(2)(iv)(B)
from any other plan maintained by the           Employer, then such Participant shall not
be permitted to elect to have Deferred           Compensation contributed to the Plan for
a period of twelve (12) months           following the receipt of the distribution.
Furthermore, the dollar limitation           under Code Section 402(g) shall be
reduced, with respect to the           Participant’s taxable year following the
taxable year in which the hardship           distribution was made, by the amount of such
Participant’s Deferred           Compensation, if any, pursuant to this Plan (and
any other plan maintained by           the Employer) for the taxable year of the hardship
distribution.  







	 	        (f)
                  If a Participant’s Deferred
Compensation under this Plan together with any           elective deferrals (as defined
in Regulation 1.402(g)-1(b)) under another           qualified cash or deferred
arrangement (as described in Code           Section 401(k)), a simplified employee
pension (as described in Code           Section 408(k)(6)), a simple individual
retirement account plan (as           described in Code Section 408(p)), a salary
reduction arrangement (within the           meaning of Code Section 3121(a)(5)(D)),
a deferred compensation plan under           Code Section 457(b), or a trust
described in Code Section 501(c)(18)           cumulatively exceed the limitation
imposed by Code Section 402(g) (as           adjusted annually in accordance with
the method provided in Code           Section 415(d) pursuant to Regulations) for
such Participant’s taxable           year, the Participant may, not later than March 1
following the close of           the Participant’s taxable year, notify the
Administrator in writing of such           excess and request that the Participant’s
Deferred Compensation under this           Plan be reduced by an amount specified by the
Participant. In such event, the           Administrator may direct the Trustee to
distribute such excess amount (and any           Income allocable to such excess amount)
to the Participant not later than the           first April 15th following the close
of the Participant’s taxable           year. Any distribution of less than the
entire amount of Excess Deferred           Compensation and Income shall be treated as a
pro rata distribution of           Excess Deferred Compensation and Income. The
amount distributed shall not exceed           the Participant’s Deferred
Compensation under the Plan for the taxable year           (and any Income allocable to
such excess amount). Any distribution on or before           the last day of the
Participant’s taxable year must satisfy each of the           following
conditions: 







	 	
(1)
                  the distribution must be made after
the date on which the Plan received the           Excess Deferred Compensation;  






	 	
(2)
                  the Participant shall designate the
distribution as Excess Deferred           Compensation; and  






	 	
(3)
                  the Plan must designate the
distribution as a distribution of Excess Deferred           Compensation.  







18 



















	 	        Any
distribution made pursuant to this Section 4.2(f) shall be made first from unmatched
Deferred Compensation and, thereafter, from Deferred Compensation which is matched.
Matching contributions which relate to such Deferred Compensation shall be forfeited.  







	 	        (g)
                  Notwithstanding Section 4.2(f)
above, a Participant’s Excess Deferred           Compensation shall be reduced, but
not below zero, by any distribution of Excess           Contributions pursuant to Section
4.6(a) for the Plan Year beginning with or           within the taxable year of the
Participant.  







	 	        (h)
                  At Normal Retirement Date, or such
other date when the Participant shall be           entitled to receive benefits, the fair
market value of the Participant’s           Elective Account shall be used to
provide additional benefits to the Participant           or the Participant’s
Beneficiary.  







	 	        (i)
                           Employer Elective
Contributions made pursuant to this Section may be segregated           into a separate
account for each Participant in a federally insured savings           account,
certificate of deposit in a bank or savings and loan association, money           market
certificate, or other short-term debt security acceptable to the Trustee           until
such time as the allocations pursuant to Section 4.4 have been made.  







	 	        (j)
                  The Employer and the Administrator
shall implement the salary reduction           elections provided for herein in
accordance with the following:  







	 	 (1)        
      A Participant must make an initial salary deferral election within a reasonable
      time, not to exceed thirty (30) days, after entering the Plan pursuant to
      Section 3.2. If the Participant fails to make an initial salary deferral
      election within such time, then such Participant may thereafter make an
      election in accordance with the rules governing modifications. The Participant
      shall make such an election by entering into a written salary reduction
      agreement with the Employer and filing such agreement with the Administrator.
      Such election shall initially be effective beginning with the pay period
      following the acceptance of the salary reduction agreement by the Administrator,
      shall not have retroactive effect and shall remain in force until revoked.
      






	 	 (2)        
      A Participant may modify a prior election at any time during the Plan Year
      and concurrently make a new election by filing a written form prescribed
      by the Administrator not less than ten (10) days prior to the pay period
      for which such modification is to be effective. Any modification shall not
      have retroactive effect and shall remain in force until revoked. 






	 	 (3)        
      A Participant may elect to prospectively revoke the Participant’s salary
      reduction agreement in its entirety at any time during the Plan Year by
      providing the Administrator with thirty (30) days written notice of such
      revocation (or upon such shorter notice period as may be acceptable to the
      Administrator). Such revocation shall become effective as of the beginning
      of the first pay period coincident with or next following the expiration
      of the notice period. Furthermore, the termination of the Participant’s
      employment, or the cessation of participation for any reason, shall be deemed
      to revoke any salary reduction agreement then in effect, effective immediately
      following the close of the pay period within which such termination or cessation
      occurs. 






	4.3  	TIME
OF PAYMENT OF EMPLOYER CONTRIBUTION  






        The
Employer may make its contribution to the Plan for a particular Plan Year at such time as
the Employer, in its sole discretion, determines. If the Employer makes a contribution for
a particular Plan Year after the close of that Plan Year, the Employer will designate to
the Trustee the Plan Year for which the Employer is making its contribution. 



	4.4  	ALLOCATION
OF CONTRIBUTION AND EARNINGS  






	 	        (a)
                  The Administrator shall establish
and maintain an account in the name of each           Participant to which the
Administrator shall credit as of each Anniversary Date,           or other Valuation
Date, all amounts allocated to each such Participant as set           forth herein.  








19 
















	 	        (b)
                  The Employer shall provide the
Administrator with all information required by           the Administrator to make a
proper allocation of the Employer contributions for           each Plan Year. Within a
reasonable period of time after the date of receipt by           the Administrator of
such information, the Administrator shall allocate such           contribution as
follows:  







	 	 (1)        
      With respect to the Employer Elective Contribution made pursuant to Section
      4.1(a), to each Participant’s Elective Account in an amount equal to
      each such Participant’s Deferred Compensation for the year. 






	 	 (2)        
      With respect to the Employer Non-Elective Contribution made pursuant to
      Section 4.1(b), to each Participant’s Account in accordance with Section
      4.1(b). 






	 	 Any Participant
      actively employed during the Plan Year shall be eligible to share in the
      matching contribution for the Plan Year. 






	 	        (c)                      On
or before each Anniversary Date any amounts which became Forfeitures since
               the last Anniversary Date may be made available to reinstate previously
               forfeited account balances of Former Participants, if any, in accordance
with                Section 3.7(d), be used to satisfy any contribution that may be
required                pursuant to Section 3.5 and/or 6.9, or be used to pay any
administrative                expenses of the Plan. The remaining Forfeitures, if any,
shall be used to reduce                the contribution of the Employer hereunder for the
Plan Year in which such                Forfeitures occur.  







	 	        (d)                      For
any Top Heavy Plan Year, Non-Key Employees not otherwise eligible to share
               in the allocation of contributions as provided above, shall receive the
minimum                allocation provided for in Section 4.4(f) if eligible pursuant to
the provisions                of Section 4.4(h).  







	 	        (e)                      As
of each Valuation Date, before the current valuation period allocation of
               Employer contributions, any earnings or losses (net appreciation or net
               depreciation) of the Trust Fund shall be allocated in the same proportion
that                each Participant’s and Former Participant’s nonsegregated
accounts                bear to the total of all Participants’ and Former
Participants’               nonsegregated accounts as of such date. Earnings or
losses with respect to a                Participant’s Directed Account shall be
allocated in accordance with                Section 4.12.  







	 	        Participants’transfers
from other qualified plans deposited in the general Trust Fund shall share in any
earnings and losses (net appreciation or net depreciation) of the Trust Fund in the same
manner provided above. Each segregated account maintained on behalf of a Participant
shall be credited or charged with its separate earnings and losses.  







	 	        (f)                      Minimum
Allocations Required for Top Heavy Plan Years: Notwithstanding the
               foregoing, for any Top Heavy Plan Year, the sum of the Employer
contributions                allocated to the Participant’s Combined Account of each
Non-Key Employee                shall be equal to at least three percent (3%) of such
Non-Key Employee’s                “415 Compensation” (reduced by
contributions and forfeitures, if any,                allocated to each Non-Key Employee
in any defined contribution plan included                with this Plan in a Required
Aggregation Group). However, if (1) the sum of                the Employer
contributions allocated to the Participant’s Combined Account                of each
Key Employee for such Top Heavy Plan Year is less than three percent                (3%)
of each Key Employee’s “415 Compensation” and (2) this
               Plan is not required to be included in an Aggregation Group to enable a
defined                benefit plan to meet the requirements of Code Section 401(a)(4)
or 410, the                sum of the Employer contributions allocated to the Participant’s
Combined                Account of each Non-Key Employee shall be equal to the largest
percentage                allocated to the Participant’s Combined Account of any Key
Employee.                However, in determining whether a Non-Key Employee has received
the required                minimum allocation, such Non-Key Employee’s Deferred
Compensation and                matching contributions needed to satisfy the “Actual
Contribution                Percentage” tests pursuant to Section 4.7(a) shall not
be taken into                account. 







	 	        However,
no such minimum allocation shall be required in this Plan for any Non-Key Employee who
participates in another defined contribution plan subject to Code Section 412
included with this Plan in a Required Aggregation Group.  







	 	        (g)                      For
purposes of the minimum allocations set forth above, the percentage
               allocated to the Participant’s Combined Account of any Key Employee
shall                be equal to the ratio of the sum of the Employer contributions
allocated on                behalf of such Key Employee divided by the “415
Compensation” for such                Key Employee.  








20 
















	 	        (h)                      For
any Top Heavy Plan Year, the minimum allocations set forth above shall be
               allocated to the Participant’s Combined Account of all Non-Key
Employees                who are Participants and who are employed by the Employer on the
last day of the                Plan Year, including Non-Key Employees who have (1) failed
to complete a                Period of Service; and (2) declined to make mandatory
contributions (if                required) or, in the case of a cash or deferred
arrangement, elective                contributions to the Plan.  







	 	        (i)                      In
lieu of the above, in any Plan Year in which a Non-Key Employee is a
               Participant in both this Plan and a defined benefit pension plan included
in a                Required Aggregation Group which is top heavy, the Employer shall not
be                required to provide such Non-Key Employee with both the full separate
defined                benefit plan minimum benefit and the full separate defined
contribution plan                minimum allocation.  







	 	        Therefore,
for any Plan Year when the Plan is a Top Heavy Plan, a Non-Key Employee who is
participating in this Plan and a defined benefit plan maintained by the Employer shall
receive a minimum monthly accrued benefit in the defined benefit plan equal to the
product of (1) one-twelfth (1/12th) of “415 Compensation” averaged over
the five (5) consecutive “limitation years” (or actual “limitation years,” if
less) which produce the highest average and (2) the lesser of (i) two percent
(2%) multiplied by years of service when the plan is top heavy or (ii) twenty
percent (20%).  







	 	        (j)
                  Notwithstanding the foregoing, for
Plan Years beginning prior to           January 1, 2000, the minimum benefit
requirement for a Top Heavy Plan shall           be determined in the following manner:  







	 	 (1)        
      Each Non-Key Employee who is a Participant during a Top Heavy Plan Year
      shall be provided the minimum allocation pursuant to Section 4.4(f). 






	 	 (2)        
      In lieu of the above, in any Plan Year in which a Non-Key Employee is a
      Participant in both this Plan and a defined benefit pension plan included
      in a Required Aggregation Group which is top heavy, the Employer shall not
      be required to provide such Non-Key Employee with both the full separate
      defined benefit plan minimum benefit and the full separate defined contribution
      plan minimum allocation. 






	 	 Therefore, for
      any Plan Year when the Plan is a Top Heavy Plan, a Non-Key Employee who
      is participating in this Plan and a defined benefit plan maintained by the
      Employer shall receive a minimum monthly accrued benefit in the defined
      benefit plan equal to the product of (1) one-twelfth (1/12th) of “415
      Compensation” averaged over the five (5) consecutive “limitation
      years” (or actual “limitation years,” if less) which produce
      the highest average and (2) the lesser of (i) two percent (2%)
      multiplied by years of service when the plan is top heavy or (ii) twenty
      percent (20%). 






	 	        (k)
                  For the purposes of this Section,
“415 Compensation” in excess of           $150,000 (or such other amount
provided in the Code) shall be disregarded. Such           amount shall be adjusted for
increases in the cost of living in accordance with           Code Section 401(a)(17)(B),
except that the dollar increase in effect on           January 1 of any calendar
year shall be effective for the Plan Year           beginning with or within such
calendar year. If “415 Compensation” for           any prior determination
period is taken into account in determining a           Participant’s minimum
benefit for the current Plan Year, the “415           Compensation” for such
determination period is subject to the applicable           annual “415 Compensation” limit
in effect for that prior period. For           this purpose, in determining the minimum
benefit in Plan Years beginning on or           after January 1, 1989, the annual
“415 Compensation” limit in           effect for determination periods
beginning before that date is $200,000 (or such           other amount as adjusted for
increases in the cost of living in accordance with           Code Section 415(d) for
determination periods beginning on or after           January 1, 1989, and in
accordance with Code Section 401(a)(17)(B) for           determination periods beginning
on or after January 1, 1994). For           determination periods beginning prior to
January 1, 1989, the $200,000           limit shall apply only for Top Heavy Plan
Years and shall not be adjusted. For           any short Plan Year the “415
Compensation” limit shall be an amount           equal to the “415 Compensation” limit
for the calendar year in which           the Plan Year begins multiplied by the ratio
obtained by dividing the number of           full months in the short Plan Year by twelve
(12).  








21 

















	 	        (l)
                  Notwithstanding anything herein to
the contrary, Participants who terminated           employment for any reason during the
Plan Year shall share in the salary           reduction contributions made by the
Employer for the year of termination without           regard to the Hours of Service
credited.  







	 	        (m)
                  Notwithstanding anything in this
Section to the contrary, all information           necessary to properly reflect a given
transaction may not be available until           after the date specified herein for
processing such transaction, in which case           the transaction will be reflected
when such information is received and           processed. Subject to express limits that
may be imposed under the Code, the           processing of any contribution, distribution
or other transaction may be delayed           for any legitimate business reason
(including, but not limited to, failure of           systems or computer programs,
failure of the means of the transmission of data,           force majeure, the failure of
a service provider to timely receive values or           prices, and the correction for
errors or omissions or the errors or omissions of           any service provider). The
processing date of a transaction will be binding for           all purposes of the Plan.  







	 	        (n)
                  Notwithstanding anything to the
contrary, if this is a Plan that would           otherwise fail to meet the requirements
of Code Section 410(b)(1) and the           Regulations thereunder because Employer
contributions would not be allocated to           a sufficient number or percentage of
Participants for a Plan Year, then the           following rules shall apply: 







	 	
(1)
                  The group of Participants eligible
to share in the Employer’s contribution           for the Plan Year shall be
expanded to include the minimum number of           Participants who would not otherwise
be eligible as are necessary to satisfy the           applicable test specified above.
The specific Participants who shall become           eligible under the terms of this
paragraph shall be those who have not separated           from service prior to the last
day of the Plan Year and have completed the           greatest Period of Service in the
Plan Year.  






	 	
(2)
                  If after application of paragraph
(1) above, the applicable test is still not           satisfied, then the group of
Participants eligible to share in the           Employer’s contribution for the Plan
Year shall be further expanded to           include the minimum number of Participants
who have separated from service prior           to the last day of the Plan Year as are
necessary to satisfy the applicable           test. The specific Participants who shall
become eligible to share shall be           those Participants who have completed the
greatest Period of Service in the Plan           Year before terminating employment.  






	 	
(3)
                  Nothing in this Section shall permit
the reduction of a Participant’s           accrued benefit. Therefore any amounts
that have previously been allocated to           Participants may not be reallocated to
satisfy these requirements. In such           event, the Employer shall make an
additional contribution equal to the amount           such affected Participants would
have received had they been included in the           allocations, even if it exceeds the
amount which would be deductible under Code           Section 404. Any adjustment to the
allocations pursuant to this paragraph shall           be considered a retroactive
amendment adopted by the last day of the Plan Year.  






	4.5  	ACTUAL
DEFERRAL PERCENTAGE TESTS  






	 	        (a)
                  Maximum Annual Allocation: For each
Plan Year beginning after December 31,           1996, the annual allocation derived from
Employer Elective Contributions to a           Highly Compensated Participant’s
Elective Account shall satisfy one of the           following tests: 







	 	
(1)
                  The “Actual Deferral Percentage” for
the Highly Compensated           Participant group shall not be more than the “Actual
Deferral           Percentage” of the Non-Highly Compensated Participant group (for
the           preceding Plan Year if the prior year testing method is used to calculate
the           “Actual Deferral Percentage” for the Non-Highly Compensated
          Participant group) multiplied by 1.25, or  






	 	
(2)
                  The excess of the “Actual
Deferral Percentage” for the Highly           Compensated Participant group over the
“Actual Deferral Percentage”          for the Non-Highly Compensated
Participant group (for the preceding Plan Year if           the prior year testing method
is used to calculate the “Actual Deferral           Percentage” for the
Non-Highly Compensated Participant group) shall not be           more than two percentage
points. Additionally, the “Actual Deferral           Percentage” for the Highly
Compensated Participant group shall not exceed           the “Actual Deferral
Percentage” for the Non-Highly Compensated           Participant group (for the
preceding Plan Year if the prior year testing method           is used to calculate the
“Actual Deferral Percentage” for the           Non-Highly Compensated
Participant group) multiplied by 2. The provisions of           Code Section 401(k)(3)
and Regulation 1.401(k)-1(b) are incorporated herein           by reference.  








22 

















	 	
However,
 in order to prevent the multiple use of the
alternative method described in (2) above and in Code Section 401(m)(9)(A), any
Highly Compensated Participant eligible to make elective deferrals pursuant to Section
4.2 and to make Employee contributions or to receive matching contributions under this
Plan or under any other plan maintained by the Employer or an Affiliated Employer shall
have a combination of such Participant’s Elective Contributions and Employer
matching contributions reduced pursuant to Section 4.6(a) and Regulation 1.401(m)-2, the
provisions of which are incorporated herein by reference.  






	 	        (b)                      For
the purposes of this Section “Actual Deferral Percentage” means,
               with respect to the Highly Compensated Participant group and Non-Highly
               Compensated Participant group for a Plan Year, the average of the ratios,
               calculated separately for each Participant in such group, of the amount of
               Employer Elective Contributions allocated to each Participant’s
Elective                Account for such Plan Year, to such Participant’s “414(s)
               Compensation” for such Plan Year. The actual deferral ratio for each
               Participant and the “Actual Deferral Percentage” for each group
shall                be calculated to the nearest one-hundredth of one percent. Employer
Elective                Contributions allocated to each Non-Highly Compensated Participant’s
               Elective Account shall be reduced by Excess Deferred Compensation to the
extent                such excess amounts are made under this Plan or any other plan
maintained by the                Employer.  







	 	        Notwithstanding
the above, if the prior year test method is used to calculate the “Actual Deferral
Percentage” for the Non-Highly Compensated Participant group for the first Plan Year
of this amendment and restatement, the “Actual Deferral Percentage” for the
Non-Highly Compensated Participant group for the preceding Plan Year shall be calculated
pursuant to the provisions of the Plan then in effect.  







	 	        (c)                      For
the purposes of Sections 4.5(a) and 4.6, a Highly Compensated Participant
               and a Non-Highly Compensated Participant shall include any Employee
eligible to                make a deferral election pursuant to Section 4.2, whether or
not such deferral                election was made or suspended pursuant to Section 4.2.  







	 	        Notwithstanding
the above, if the prior year testing method is used to calculate the “Actual
Deferral Percentage” for the Non-Highly Compensated Participant group for the first
Plan Year of this amendment and restatement, for purposes of Section 4.5(a) and 4.6, a
Non-Highly Compensated Participant shall include any such Employee eligible to make a
deferral election, whether or not such deferral election was made or suspended, pursuant
to the provisions of the Plan in effect for the preceding Plan Year.  







	 	        (d)                      For
the purposes of this Section and Code Sections 401(a)(4), 410(b) and 401(k),
               if two or more plans which include cash or deferred arrangements are
considered                one plan for the purposes of Code Section 401(a)(4) or 410(b)
(other than Code                Section 410(b)(2)(A)(ii)), the cash or deferred
arrangements included in such                plans shall be treated as one arrangement.
In addition, two or more cash or                deferred arrangements may be considered
as a single arrangement for purposes of                determining whether or not such
arrangements satisfy Code Sections 401(a)(4),                410(b) and 401(k). In such a
case, the cash or deferred arrangements included in                such plans and the
plans including such arrangements shall be treated as one                arrangement and
as one plan for purposes of this Section and Code Sections                401(a)(4),
410(b) and 401(k). Any adjustment to the Non-Highly Compensated
               Participant actual deferral ratio for the prior year shall be made in
accordance                with Internal Revenue Service Notice 98-1 and any superseding
guidance. Plans                may be aggregated under this paragraph (d) only if they
have the same plan year.                Notwithstanding the above, for Plan Years
beginning after December 31,                1996, if two or more plans which include
cash or deferred arrangements are                permissively aggregated under Regulation
1.410(b)-7(d), all plans permissively                aggregated must use either the
current year testing method or the prior year                testing method for the
testing year.  








23 
















	 	        Notwithstanding
the above, an employee stock ownership plan described in Code Section 4975(e)(7) or 409
may not be combined with this Plan for purposes of determining whether the employee stock
ownership plan or this Plan satisfies this Section and Code Sections 401(a)(4), 410(b)
and 401(k).  







	 	        (e)                      For
the purposes of this Section, if a Highly Compensated Participant is a
               Participant under two or more cash or deferred arrangements (other than a
cash                or deferred arrangement which is part of an employee stock ownership
plan as                defined in Code Section 4975(e)(7) or 409) of the Employer or an
Affiliated                Employer, all such cash or deferred arrangements shall be
treated as one cash or                deferred arrangement for the purpose of determining
the actual deferral ratio                with respect to such Highly Compensated
Participant. However, if the cash or                deferred arrangements have different
plan years, this paragraph shall be applied                by treating all cash or
deferred arrangements ending with or within the same                calendar year as a
single arrangement.  







	 	        (f)                      For
the purpose of this Section, for Plan Years beginning after                December 31,
1996, when calculating the “Actual Deferral                Percentage” for the
Non-Highly Compensated Participant group, the prior                year testing method
shall be used. Any change from the current year testing                method to the
prior year testing method shall be made pursuant to Internal                Revenue
Service Notice 98-1, Section VII (or superseding guidance), the
               provisions of which are incorporated herein by reference.  







	 	        (g)                      Notwithstanding
anything in this Section to the contrary, the provisions of this                Section
and Section 4.6 may be applied separately (or will be applied
               separately to the extent required by Regulations) to each plan within the
               meaning of Regulation 1.401(k)-1(g)(11). Furthermore, for Plan Years
beginning                after December 31, 1998, the provisions of Code Section
401(k)(3)(F) may be                used to exclude from consideration all Non-Highly
Compensated Employees who have                not satisfied the minimum age and service
requirements of Code Section                410(a)(1)(A).  







	4.6  	ADJUSTMENT
TO ACTUAL DEFERRAL PERCENTAGE TESTS  






        In
the event (or if it is anticipated) that the initial allocations of the Employer Elective
Contributions made pursuant to Section 4.4 do (or might) not satisfy one of the tests set
forth in Section 4.5(a) for Plan Years beginning after December 31, 1996, the
Administrator shall adjust Excess Contributions pursuant to the options set forth below: 



	 	        (a)
                  On or before the fifteenth day of
the third month following the end of each           Plan Year, but in no event later than
the close of the following Plan Year, the           Highly Compensated Participant having
the largest dollar amount of Elective           Contributions shall have a portion of
such Participant’s Elective           Contributions distributed until the total
amount of Excess Contributions has           been distributed, or until the amount of
such Participant’s Elective           Contributions equals the Elective
Contributions of the Highly Compensated           Participant having the second largest
dollar amount of Elective Contributions.           This process shall continue until the
total amount of Excess Contributions has           been distributed. In determining the
amount of Excess Contributions to be           distributed with respect to an affected
Highly Compensated Participant as           determined herein, such amount shall be
reduced pursuant to Section 4.2(f) by           any Excess Deferred Compensation
previously distributed to such affected Highly           Compensated Participant for such
Participant’s taxable year ending with or           within such Plan Year.  







	 	
(1)
                  With respect to the distribution of
Excess Contributions pursuant to           (a) above, such distribution:  






	 	
(i)
                  may be postponed but not later than
the close of the Plan Year following the           Plan Year to which they are allocable;  






	 	
(ii)
                  shall be adjusted for Income; and  








24 
















	 	
(iii)
                  shall be designated by the Employer
as a distribution of Excess Contributions           (and Income).  






	 	
(2)
                  Any distribution of less than the
entire amount of Excess Contributions shall           be treated as a pro rata
distribution of Excess Contributions and Income.  






	 	
(3)
                  Matching contributions which relate
to Excess Contributions shall be forfeited           unless the related matching
contribution is distributed as an Excess Aggregate           Contribution pursuant to
Section 4.8.  






	 	        (b)
                  Notwithstanding the above, within
twelve (12) months after the end of the Plan           Year, the Employer may make a
special Qualified Non-Elective Contribution in           accordance with one of the
following provisions which contribution shall be           allocated to the Participant’s
Elective Account of each Non-Highly           Compensated Participant eligible to share
in the allocation in accordance with           such provision. The Employer shall provide
the Administrator with written           notification of the amount of the contribution
being made and for which           provision it is being made pursuant to:  







	 	
(1)
                  A special Qualified Non-Elective
Contribution may be made on behalf of           Non-Highly Compensated Participants in an
amount sufficient to satisfy (or to           prevent an anticipated failure of) one of
the tests set forth in           Section 4.5(a). Such contribution shall be
allocated in the same proportion           that each Non-Highly Compensated Participant’s
414(s) Compensated for the           year (or prior year if the prior year testing method
is being used) bears to the           total 414(s) Compensation of all Non-Highly
Compensated Participants for such           year.  






	 	
(2)
                  A special Qualified Non-Elective
Contribution may be made on behalf of           Non-Highly Compensated Participants in an
amount sufficient to satisfy (or to           prevent an anticipated failure of) one of
the tests set forth in           Section 4.5(a). Such contribution shall be
allocated in the same proportion           that each Non-Highly Compensated Participant
electing salary reductions pursuant           to Section 4.2 in the same proportion
that each such Non-Highly Compensated           Participant’s Deferred Compensation
for the year (or at the end of the           prior Plan Year if the prior year testing
method is being used) bears to the           total Deferred Compensation of all such
Non-Highly Compensated Participants for           such year.  






	 	
(3)
                  A special Qualified Non-Elective
Contribution may be made on behalf of           Non-Highly Compensated Participants in an
amount sufficient to satisfy (or to           prevent an anticipated failure of) one of
the tests set forth in           Section 4.5(a). Such contribution shall be
allocated in equal amounts (per           capita).  






	 	
(4)
                  A special Qualified Non-Elective
Contribution may be made on behalf of           Non-Highly Compensated Participants
electing salary reductions pursuant to           Section 4.2 in an amount sufficient
to satisfy (or to prevent an           anticipated failure of) one of the tests set forth
in Section 4.5(a). Such           contribution shall be allocated for the year (or
at the end of the prior Plan           Year if the prior year testing method is used) to
each Non-Highly Compensated           Participant electing salary reductions pursuant to
Section 4.2 in equal           amounts (per capita).  






	 	
(5)
                  A special Qualified Non-Elective
Contribution may be made on behalf of           Non-Highly Compensated Participants in an
amount sufficient to satisfy (or to           prevent an anticipated failure of) one of
the tests set forth in           Section 4.5(a). Such contribution shall be
allocated to the Non-Highly           Compensated Participant having the lowest 414(s)
Compensation, until one of the           tests set forth in Section 4.5(a) is
satisfied (or is anticipated to be           satisfied), or until such Non-Highly
Compensated Participant has received the           maximum “annual addition” pursuant
to Section 4.9. This process           shall continue until one of the tests set
forth in Section 4.5(a) is           satisfied (or is anticipated to be satisfied).  






	 	        Notwithstanding
the above, at the Employer’s discretion, Non-Highly Compensated Participants who are
not employed at the end of the Plan Year (or at the end of the prior Plan Year if the
prior year testing method is being used) shall not be eligible to receive a special
Qualified Non-Elective Contribution and shall be disregarded.  







25 


















	 	        Notwithstanding
the above, for Plan Years beginning after December 31, 1998, if the testing method
changes from the current year testing method to the prior year testing method, then for
purposes of preventing the double counting of Qualified Non-Elective Contributions for
the first testing year for which the change is effective, any special Qualified
Non-Elective Contribution on behalf of Non-Highly Compensated Participants used to
satisfy the “Actual Deferral Percentage” or “Actual Contribution Percentage” test
under the current year testing method for the prior year testing year shall be
disregarded.  







	 	        (c)                      If
during a Plan Year, it is projected that the aggregate amount of Elective
               Contributions to be allocated to all Highly Compensated Participants under
this                Plan would cause the Plan to fail the tests set forth in Section 4.5(a),
               then the Administrator may automatically reduce the deferral amount of
affected                Highly Compensated Participants, beginning with the Highly
Compensated                Participant who has the highest deferral ratio until it is
anticipated the Plan                will pass the tests or until the actual deferral
ratio equals the actual                deferral ratio of the Highly Compensated
Participant having the next highest                actual deferral ratio. This process
may continue until it is anticipated that                the Plan will satisfy one of the
tests set forth in Section 4.5(a).                Alternatively, the Employer may
specify a maximum percentage of Compensation                that may be deferred.  







	 	        (d)                      Any
Excess Contributions (and Income) which are distributed on or after                2 1/2
months after the end of the Plan Year shall be subject to the ten                percent
(10%) Employer excise tax imposed by Code Section 4979.  







	4.7  	ACTUAL
CONTRIBUTION PERCENTAGE TESTS  






	 	        (a)
                  The “Actual Contribution
Percentage” for Plan Years beginning after           December 31, 1996 for the
Highly Compensated Participant group shall not exceed           the greater of: 







	 	
(1)
                  125 percent of such percentage for
the Non-Highly Compensated Participant           group(for the preceding Plan Year
if the prior year testing method is           used to calculate the “Actual
Contribution Percentage” for the           Non-Highly Compensated Participant
group); or  






	 	
(2)
                  the lesser of 200 percent of such
percentage for the Non-Highly Compensated           Participant group(for the
preceding Plan Year if the prior year testing           method is used to calculate the
“Actual Contribution Percentage” for           the Non-Highly Compensated
Participant group), or such percentage for the           Non-Highly Compensated
Participant group(for the preceding Plan Year if           the prior year testing
method is used to calculate the “Actual Contribution           Percentage” for
the Non-Highly Compensated Participant group) plus 2           percentage points.
However, to prevent the multiple use of the alternative           method described in
this paragraph and Code Section 401(m)(9)(A), any           Highly Compensated
Participant eligible to make elective deferrals pursuant to           Section 4.2 or
any other cash or deferred arrangement maintained by the           Employer or an
Affiliated Employer and to make Employee contributions or to           receive matching
contributions under this Plan or under any plan maintained by           the Employer or
an Affiliated Employer shall have a combination of Elective           Contributions and
Employer matching contributions reduced pursuant to Regulation           1.401(m)-2 and
Section 4.8(a). The provisions of Code Section 401(m)           and Regulations
1.401(m)-1(b) and 1.401(m)-2 are incorporated herein by           reference. 






	 	        (b)
                  For the purposes of this Section and
Section 4.8, “Actual           Contribution Percentage” for a Plan Year
means, with respect to the Highly           Compensated Participant group and Non-Highly
Compensated Participant group(for the preceding Plan Year if the prior year
testing method is used to           calculate the “Actual Contribution Percentage” for
the Non-Highly           Compensated Participant group), the average of the ratios
(calculated separately           for each Participant in each group and rounded to the
nearest one-hundredth of           one percent) of:  







	 	
(1)
                  the sum of Employer matching
contributions made pursuant to Section 4.1(b) on           behalf of each such
Participant for such Plan Year; to  






26 


















	 	
(2)
                  the Participant’s “414(s)
Compensation” for such Plan Year.  






	 	        Notwithstanding
the above, if the prior year testing method is used to calculate the “Actual
Contribution Percentage” for the Non-Highly Compensated Participant group for the
first Plan Year of this amendment and restatement, for purposes of Section 4.7(a),
the “Actual Contribution Percentage” for the Non-Highly Compensated Participant
group for the preceding Plan Year shall be determined pursuant to the provisions of the
Plan then in effect.  







	 	        (c)                      For
purposes of determining the “Actual Contribution Percentage,” only
               Employer matching contributions contributed to the Plan prior to the end
of the                succeeding Plan Year shall be considered. In addition, the
Administrator may                elect to take into account, with respect to Employees
eligible to have Employer                matching contributions pursuant to Section
4.1(b) allocated to their accounts,                elective deferrals (as defined in
Regulation 1.402(g)-1(b)) and qualified                non-elective contributions (as
defined in Code Section 401(m)(4)(C))                contributed to any plan
maintained by the Employer. Such elective deferrals and                qualified
non-elective contributions shall be treated as Employer matching
               contributions subject to Regulation 1.401(m)-1(b)(5) which is incorporated
               herein by reference. However, the Plan Year must be the same as the plan
year of                the plan to which the elective deferrals and the qualified
non-elective                contributions are made.  







	 	        (d)                      For
purposes of this Section and Code Sections 401(a)(4), 410(b) and
               401(m), if two or more plans of the Employer to which matching
contributions,                Employee contributions, or both, are made are treated as
one plan for purposes                of Code Sections 401(a)(4) or 410(b) (other
than the average benefits test                under Code Section 410(b)(2)(A)(ii)),
such plans shall be treated as one                plan. In addition, two or more plans of
the Employer to which matching                contributions, Employee contributions, or
both, are made may be considered as a                single plan for purposes of
determining whether or not such plans satisfy Code                Sections 401(a)(4),
410(b) and 401(m). In such a case, the aggregated plans                must satisfy this
Section and Code Sections 401(a)(4), 410(b) and 401(m) as                though such
aggregated plans were a single plan. Any adjustment to the                Non-Highly
Compensated Participant actual contribution ratio for the prior year                shall
be made in accordance with Internal Revenue Service Notice 98-1 and any
               superseding guidance. Plans may be aggregated under this paragraph (d)
only if                they have the same plan year. Notwithstanding the above, for Plan
Years                beginning after December 31, 1996, if two or more plans which
include cash                or deferred arrangements are permissively aggregated under
Regulation                1.410(b)-7(d), all plans permissively aggregated must use
either the current                year testing method or the prior year testing method
for the testing year.  







	 	        Notwithstanding
the above, an employee stock ownership plan described in Code Section 4975(e)(7) or
409 may not be aggregated with this Plan for purposes of determining whether the employee
stock ownership plan or this Plan satisfies this Section and Code Sections 401(a)(4),
410(b) and 401(m).  







	 	        (e)                      If
a Highly Compensated Participant is a Participant under two or more plans
               (other than an employee stock ownership plan as defined in Code
               Section 4975(e)(7) or 409) which are maintained by the Employer or an
               Affiliated Employer to which matching contributions, Employee
contributions, or                both, are made, all such contributions on behalf of such
Highly Compensated                Participant shall be aggregated for purposes of
determining such Highly                Compensated Participant’s actual contribution
ratio. However, if the plans                have different plan years, this paragraph
shall be applied by treating all plans                ending with or within the same
calendar year as a single plan.  







	 	        (f)                      For
purposes of Sections 4.7(a) and 4.8, a Highly Compensated Participant and
               Non-Highly Compensated Participant shall include any Employee eligible to
have                Employer matching contributions (whether or not a deferral election
was made or                suspended) allocated to the Participant’s account for the
Plan Year.  







	 	        Notwithstanding
the above, if the prior year testing method is used to calculate the “Actual
Contribution Percentage” for the Non-Highly Compensated Participant group for the
first Plan Year of this amendment and restatement, for the purposes of Section 4.7(a),
a Non-Highly Compensated Participant shall include any such Employee eligible to have
Employer matching contributions (whether or not a deferral election was made or
suspended) allocated to the Participant’s account for the preceding Plan Year
pursuant to the provisions of the Plan then in effect.  







27 


















	 	        (g)                      For
the purpose of this Section, for Plan Years beginning after                December 31,
1996, when calculating the “Actual Contribution                Percentage” for
the Non-Highly Compensated Participant group, the prior                year testing
method shall be used. Any change from the current year testing                method to
the prior year testing method shall be made pursuant to Internal                Revenue
Service Notice 98-1, Section VII (or superseding guidance), the
               provisions of which are incorporated herein by reference.  







	 	        (h)                      Notwithstanding
anything in this Section to the contrary, the provisions of this                Section
and Section 4.8 may be applied separately (or will be applied
               separately to the extent required by Regulations) to each plan within the
               meaning of Regulation 1.401(k)-1(g)(11). Furthermore, for Plan Years
beginning                after December 31, 1998, the provisions of Code Section
401(k)(3)(F) may be                used to exclude from consideration all Non-Highly
Compensated Employees who have                not satisfied the minimum age and service
requirements of Code Section                410(a)(1)(A).  







	4.8  	ADJUSTMENT
TO ACTUAL CONTRIBUTION PERCENTAGE TESTS 






	 	        (a)                      In
the event (or if it is anticipated) that, for Plan Years beginning after
               December 31, 1996, the “Actual Contribution Percentage” for
the                Highly Compensated Participant group exceeds (or might exceed) the
“Actual                Contribution Percentage” for the Non-Highly Compensated
Participant group                pursuant to Section 4.7(a), the Administrator (on or
before the fifteenth day of                the third month following the end of the Plan
Year, but in no event later than                the close of the following Plan Year)
shall direct the Trustee to distribute to                the Highly Compensated
Participant having the largest dollar amount of                contributions determined
pursuant to Section 4.7(b)(1), the Vested portion                of such
contributions (and Income allocable to such contributions) and, if
               forfeitable, forfeit such non-Vested contributions attributable to
Employer                matching contributions (and Income allocable to such forfeitures)
until the                total amount of Excess Aggregate Contributions has been
distributed, or until                the Participant’s remaining amount equals the
amount of contributions                determined pursuant to Section 4.7(b)(1) of
the Highly Compensated                Participant having the second largest dollar amount
of contributions. This                process shall continue until the total amount of
Excess Aggregate Contributions                has been distributed. 







	 	        If
the correction of Excess Aggregate Contributions attributable to Employer matching
contributions is not in proportion to the Vested and non-Vested portion of such
contributions, then the Vested portion of the Participant’s Account attributable to
Employer matching contributions after the correction shall be subject to Section 6.5(i).  







	 	        (b)                      Any
distribution and/or forfeiture of less than the entire amount of Excess
               Aggregate Contributions (and Income) shall be treated as a pro rata
               distribution and/or forfeiture of Excess Aggregate Contributions and
Income.                Distribution of Excess Aggregate Contributions shall be designated
by the                Employer as a distribution of Excess Aggregate Contributions (and
Income).                Forfeitures of Excess Aggregate Contributions shall be treated in
accordance                with Section 4.4.  







	 	        (c)                      Excess
Aggregate Contributions, including forfeited matching contributions,                shall
be treated as Employer contributions for purposes of Code Sections 404 and
               415 even if distributed from the Plan.  







	 	        Forfeited
matching contributions that are reallocated to Participants’ Accounts for the Plan
Year in which the forfeiture occurs shall be treated as an “annual addition”pursuant
to Section 4.9(b) for the Participants to whose Accounts they are reallocated and
for the Participants from whose Accounts they are forfeited.  







	 	        (d)
                  The determination of the amount of
Excess Aggregate Contributions with respect           to any Plan Year shall be made
after first determining the Excess Contributions,           if any, to be treated as
after-tax voluntary Employee contributions due to           recharacterization for the
plan year of any other qualified cash or deferred           arrangement (as defined in
Code Section 401(k)) maintained by the Employer that           ends with or within the
Plan Year or which are treated as after-tax voluntary           Employee contributions
due to recharacterization pursuant to           Section 4.6(a).  









28 

















	 	        (e)
                  If during a Plan Year the projected
aggregate amount of Employer matching           contributions to be allocated to all
Highly Compensated Participants under this           Plan would, by virtue of the tests
set forth in Section 4.7(a), cause the           Plan to fail such tests, then the
Administrator may automatically reduce           proportionately or in the order provided
in Section 4.8(a) each affected           Highly Compensated Participant’s
projected share of such contributions by           an amount necessary to satisfy one of
the tests set forth in           Section 4.7(a).  







	 	        (f)
                  Notwithstanding the above, within
twelve (12) months after the end of the Plan           Year, the Employer may make a
special Qualified Non-Elective Contribution in           accordance with one of the
following provisions which contribution shall be           allocated to the Participant’s
Account of each Non-Highly Compensated           eligible to share in the allocation in
accordance with such provision. The           Employer shall provide the Administrator
with written notification of the amount           of the contribution being made and for
which provision it is being made pursuant           to:  







	 	
(1)
                  A special Qualified Non-Elective
Contribution may be made on behalf of           Non-Highly Compensated Participants in an
amount sufficient to satisfy (or to           prevent an anticipated failure of) one of
the tests set forth in           Section 4.7. Such contribution shall be allocated
in the same proportion           that each Non-Highly Compensated Participant’s
414(s) Compensation for the           year (or prior year if the prior year testing
method is being used) bears to the           total 414(s) Compensation of all Non-Highly
Compensated Participants for such           year.  






	 	
(2)
                  A special Qualified Non-Elective
Contribution may be made on behalf of           Non-Highly Compensated Participants in an
amount sufficient to satisfy (or to           prevent an anticipated failure of) one of
the tests set forth in           Section 4.7. Such contribution shall be allocated
in the same proportion           that each Non-Highly Compensated Participant electing
salary reductions pursuant           to Section 4.2 in the same proportion that each
such Non-Highly Compensated           Participant’s Deferred Compensation for the
year (or at the end of the           prior Plan Year if the prior year testing method is
being used) bears to the           total Deferred Compensation of all such Non-Highly
Compensated Participants for           such year.  






	 	
(3)
                  A special Qualified Non-Elective
Contribution may be made on behalf of           Non-Highly Compensated Participants in an
amount sufficient to satisfy (or to           prevent an anticipated failure of) one of
the tests set forth in           Section 4.7. Such contribution shall be
allocated in equal amounts           (per capita).  






	 	
(4)
                  A special Qualified Non-Elective
Contribution may be made on behalf of           Non-Highly Compensated Participants
electing salary reductions pursuant to           Section 4.2 in an amount sufficient
to satisfy (or to prevent an           anticipated failure of) one of the tests set forth
in Section 4.5(a). Such           contribution shall be allocated for the year (or
at the end of the prior Plan           Year if the prior year testing method is used) to
each Non-Highly Compensated           Participant electing salary reductions pursuant to
Section 4.2 in equal           amounts (per capita).  






	 	
(5)
                  A special Qualified Non-Elective
Contribution may be made on behalf of           Non-Highly Compensated Participants in an
amount sufficient to satisfy (or to           prevent an anticipated failure of) one of
the tests set forth in           Section 4.7. Such contribution shall be allocated
to the Non-Highly           Compensated Participant having the lowest 414(s)
Compensation, until one of the           tests set forth in Section 4.7 is satisfied
(or is anticipated to be           satisfied), or until such Non-Highly Compensated
Participant has received the           maximum “annual addition” pursuant to
Section 4.9. This process           shall continue until one of the tests set forth
in Section 4.7 is satisfied           (or is anticipated to be satisfied).  






	 	        Notwithstanding
the above, at the Employer’s discretion, Non-Highly Compensated Participants who are
not employed at the end of the Plan Year (or at the end of the prior Plan Year if the
prior year testing method is being used) shall not be eligible to receive a special
Qualified Non-Elective Contribution and shall be disregarded.  







	 	        Notwithstanding
the above, for Plan Years beginning after December 31, 1998, if the testing method
changes from the current year testing method to the prior year testing method, then for
purposes of preventing the double counting of Qualified Non-Elective Contributions for
the first testing year for which the change is effective, any special Qualified
Non-Elective Contribution on behalf of Non-Highly Compensated Participants used to
satisfy the “Actual Deferral Percentage” or “Actual Contribution Percentage” test
under the current year testing method for the prior year testing year shall be
disregarded.  








29 

















	 	        (g)                      Any
Excess Aggregate Contributions (and Income) which are distributed on or
               after 2 1/2 months after the end of the Plan Year shall be subject to
the                ten percent (10%) Employer excise tax imposed by Code Section 4979.  







	4.9  	MAXIMUM
ANNUAL ADDITIONS 






	 	        (a)                      Notwithstanding
the foregoing, for “limitation years” beginning after                December
31, 1994, the maximum “annual additions” credited to a
               Participant’s accounts for any “limitation year” shall
equal the                lesser of: (1) $30,000 adjusted annually as provided in
Code Section 415(d)                pursuant to the Regulations, or (2) twenty-five
percent (25%) of the                Participant’s “415 Compensation” for
such “limitation                year.” If the Employer contribution that would
otherwise be contributed or                allocated to the Participant’s accounts
would cause the “annual                additions” for the “limitation year” to
exceed the maximum                “annual additions,” the amount contributed or
allocated will be                reduced so that the “annual additions” for the
“limitation                year” will equal the maximum “annual additions,” and
any amount                in excess of the maximum “annual additions,” which
would have been                allocated to such Participant may be allocated to other
Participants. For any                short “limitation year,” the dollar
limitation in (1) above shall be                reduced by a fraction, the numerator of
which is the number of full months in                the short “limitation year” and
the denominator of which is twelve                (12).  







	 	        (b)                      For
purposes of applying the limitations of Code Section 415, “annual
               additions” means the sum credited to a Participant’s accounts
for any                “limitation year” of (1) Employer contributions,
               (2) Employee contributions, (3) forfeitures, (4) amounts
               allocated, after March 31, 1984, to an individual medical
account, as                defined in Code Section 415(l)(2) which is part of a
pension or annuity                plan maintained by the Employer and (5) amounts
derived from contributions                paid or accrued after December 31, 1985,
in taxable years ending after                such date, which are attributable to
post-retirement medical benefits allocated                to the separate account of a
key employee (as defined in Code                Section 419A(d)(3)) under a welfare
benefit plan (as defined in Code                Section 419(e)) maintained by the
Employer. Except, however, the “415                Compensation” percentage
limitation referred to in paragraph (a)(2) above                shall not apply to: (1) any
contribution for medical benefits (within the                meaning of Code Section 419A(f)(2))
after separation from service which is                otherwise treated as an “annual
addition,” or (2) any amount                otherwise treated as an “annual
addition” under Code                Section 415(l)(1).  







	 	        (c)                      For
purposes of applying the limitations of Code Section 415, the transfer
               of funds from one qualified plan to another is not an “annual
               addition.” In addition, the following are not Employee contributions
for                the purposes of Section 4.9(b)(2): (1) rollover contributions (as
defined                in Code Sections 402(e)(6), 403(a)(4), 403(b)(8) and 408(d)(3));
               (2) repayments of loans made to a Participant from the Plan;
               (3) repayments of distributions received by an Employee pursuant to
Code                Section 411(a)(7)(B) (cash-outs); (4) repayments of
distributions                received by an Employee pursuant to Code Section 411(a)(3)(D)
(mandatory                contributions); and (5) Employee contributions to a
simplified employee                pension excludable from gross income under Code Section 408(k)(6).  







	 	        (d)                      For
purposes of applying the limitations of Code Section 415, the                “limitation
year” shall be the Plan Year.  







	 	        (e)                      For
the purpose of this Section, all qualified defined benefit plans (whether
               terminated or not) ever maintained by the Employer shall be treated as one
               defined benefit plan, and all qualified defined contribution plans
(whether                terminated or not) ever maintained by the Employer shall be
treated as one                defined contribution plan.  







	 	        (f)                      For
the purpose of this Section, if the Employer is a member of a controlled
               group of corporations, trades or businesses under common control (as
defined by                Code Section 1563(a) or Code Section 414(b) and (c)
as modified by                Code Section 415(h)), is a member of an affiliated
service group (as                defined by Code Section 414(m)), or is a member of
a group of entities                required to be aggregated pursuant to Regulations
under Code                Section 414(o), all Employees of such Employers shall be
considered to be                employed by a single Employer.  








30 


















	 	        (g)                      For
the purpose of this Section, if this Plan is a Code Section 413(c)
               plan, each Employer who maintains this Plan will be considered to be a
separate                Employer.  







	 	        (h)(1)                      If
a Participant participates in more than one defined contribution plan
               maintained by the Employer which have different Anniversary Dates, the
maximum                “annual additions” under this Plan shall equal the
maximum                “annual additions” for the “limitation year” minus
any                “annual additions” previously credited to such Participant’s
               accounts during the “limitation year.” 







	 	
(2)                      If
a Participant participates in both a defined contribution plan subject to
               Code Section 412 and a defined contribution plan not subject to Code
               Section 412 maintained by the Employer which have the same
Anniversary                Date, “annual additions” will be credited to the
Participant’s                accounts under the defined contribution plan subject to
Code Section 412                prior to crediting “annual additions” to
the Participant’s                accounts under the defined contribution plan not
subject to Code                Section 412.  






	 	
(3)                      If
a Participant participates in more than one defined contribution plan not
               subject to Code Section 412 maintained by the Employer which have the
same                Anniversary Date, the maximum “annual additions” under this
Plan shall                equal the product of (A) the maximum “annual additions” for
the                “limitation year” minus any “annual additions” previously
               credited under subparagraphs (1) or (2) above, multiplied by (B) a
fraction                (i) the numerator of which is the “annual additions” which
would                be credited to such Participant’s accounts under this Plan
without regard                to the limitations of Code Section 415 and (ii) the
denominator of                which is such “annual additions” for all plans
described in this                subparagraph.  






	 	        (i)                      If
the sum of the defined benefit plan fraction and the defined contribution
               plan fraction shall exceed 1.0 in any “limitation year” for any
               Participant in this Plan, the Administrator shall adjust the numerator of
the                defined benefit plan fraction so that the sum of both fractions shall
not exceed                1.0 in any “limitation year” for such Participant.  







	 	        (j)                      Notwithstanding
anything contained in this Section to the contrary, the                limitations,
adjustments and other requirements prescribed in this Section shall                at all
times comply with the provisions of Code Section 415 and the
               Regulations thereunder. Effective as of the first day of the first
               “limitation year” beginning on or after January 1, 2000 (the
               “effective date”), and notwithstanding any other provision of
the                Plan, the accrued benefit for any Participant shall be determined
without                applying the limitations of Code Section 415(e) as in effect on
the day                immediately prior to the “effective date.” 







	4.10  	ADJUSTMENT
FOR EXCESSIVE ANNUAL ADDITIONS  






	 	        (a)                      If,
as a result of a reasonable error in estimating a Participant’s
               Compensation, a reasonable error in determining the amount of elective
deferrals                (within the meaning of Code Section 402(g)(3)) that may be
made with                respect to any Participant under the limits of Section 4.9
or other facts                and circumstances to which Regulation 1.415-6(b)(6) shall
be applicable, the                “annual additions” under this Plan would
cause the maximum                “annual additions” to be exceeded for any
Participant, the                “excess amount” will be disposed of in one of
the following manners,                as uniformly determined by the Administrator for
all Participants similarly                situated.  







	 	
(1)                      Any
unmatched Deferred Compensation and, thereafter, proportionately from
               Deferred Compensation which is matched and matching contributions which
relate                to such Deferred Compensation, will be reduced to the extent they
would reduce                the “excess amount.” The Deferred Compensation (and
for                “limitation years” beginning after December 31, 1995,
any gains                attributable to such Deferred Compensation) will be distributed
to the                Participant and the Employer matching contributions (and for “limitation
               years” beginning after December 31, 1995, any gains attributable
to                such matching contributions) will be used to reduce the Employer
contribution in                the next “limitation year”;  







31 

















	 	
(2)                      If,
after the application of subparagraph (1) above, an “excess                amount” still
exists, and the Participant is covered by the Plan at the end                of the “limitation
year,” the “excess amount” will be used                to reduce the
Employer contribution for such Participant in the next                “limitation
year,” and each succeeding “limitation year” if                necessary;  






	 	
(3)                      If,
after the application of subparagraphs (1) and (2) above, an “excess
               amount” still exists, and the Participant is not covered by the Plan
at the                end of the “limitation year,” the “excess amount” will
be                held unallocated in a “Section 415 suspense account.” The
               “Section 415 suspense account” will be applied to reduce future
               Employer contributions for all remaining Participants in the next
               “limitation year,” and each succeeding “limitation year” if
               necessary;  






	 	
(4)                      If
a “Section 415 suspense account” is in existence at any time
               during the “limitation year” pursuant to this Section, it will
not                participate in the allocation of investment gains and losses of the
Trust Fund.                If a “Section 415 suspense account” is in
existence at any time                during a particular “limitation year,” all
amounts in the                “Section 415 suspense account” must be
allocated and reallocated                to Participants’ accounts before any
Employer contributions or any Employee                contributions may be made to the
Plan for that “limitation year.”               Except as provided in (1) above,
“excess amounts” may not be                distributed to Participants or
Former Participants.  






	 	        (b)                      For
purposes of this Article, “excess amount” for any Participant for
               a “limitation year” shall mean the excess, if any, of (1) the
               “annual additions” which would be credited to the Participant’s
               account under the terms of the Plan without regard to the limitations of
Code                Section 415 over (2) the maximum “annual additions”               determined
pursuant to Section 4.9.  







	 	        (c)                      For
purposes of this Section, “Section 415 suspense account” shall
               mean an unallocated account equal to the sum of “excess amounts” for
               all Participants in the Plan during the “limitation year.” 







	4.11  	ROLLOVERS
AND PLAN-TO-PLAN TRANSFERS FROM QUALIFIED PLANS 






	 	        (a)                      With
the consent of the Administrator, amounts may be transferred (within the
               meaning of Code Section 414(l)) to this Plan from other tax qualified
plans                under Code Section 401(a) by Eligible Employees, provided the trust
from which                such funds are transferred permits the transfer to be made and
the transfer will                not jeopardize the tax exempt status of the Plan or
Trust or create adverse tax                consequences for the Employer. Prior to
accepting any transfers to which this                Section applies, the Administrator
may require an opinion of counsel that the                amounts to be transferred meet
the requirements of this Section. The amounts                transferred shall be set up
in a separate account herein referred to as a                Participant’s
Transfer/Rollover Account. Furthermore, for vesting purposes,                the
Participant’s portion of the Participant’s Transfer/Rollover
               Account attributable to any transfer shall be subject to Section 6.4(b).  







	 	        Except
as permitted by Regulations (including Regulation 1.411(d)-4), amounts attributable to
elective contributions (as defined in Regulation 1.401(k)-1(g)(3)), including amounts
treated as elective contributions, which are transferred from another qualified plan in a
plan-to-plan transfer (other than a direct rollover) shall be subject to the distribution
limitations provided for in Regulation 1.401(k)-1(d).  







	 	        (b)                      With
the consent of the Administrator, the Plan may accept a                “rollover” by
Eligible Employees, provided the “rollover”               will not jeopardize
the tax exempt status of the Plan or create adverse tax                consequences for
the Employer. Prior to accepting any “rollovers” to                which this
Section applies, the Administrator may require the Employee to                establish
(by providing opinion of counsel or otherwise) that the amounts to be
               rolled over to this Plan meet the requirements of this Section. The
amounts                rolled over shall be set up in a separate account herein referred
to as a                “Participant’s Transfer/Rollover Account.” Such
account shall be                fully Vested at all times and shall not be subject to
Forfeiture for any reason.  







32 

















	 	        For
purposes of this Section, the term “qualified plan” shall mean any tax
qualified plan under Code Section 401(a), or, any other plans from which
distributions are eligible to be rolled over into this Plan pursuant to the Code. The
term “rollover” means: (i) amounts transferred to this Plan directly from
another qualified plan; (ii) distributions received by an Employee from other “qualified
plans” which are eligible for tax-free rollover to a “qualified plan” and
which are transferred by the Employee to this Plan within sixty (60) days following
receipt thereof; (iii) amounts transferred to this Plan from a conduit individual
retirement account provided that the conduit individual retirement account has no assets
other than assets which (A) were previously distributed to the Employee by another
“qualified plan,” (B) were eligible for tax-free rollover to a “qualified
plan” and (C) were deposited in such conduit individual retirement account
within sixty (60) days of receipt thereof; (iv) amounts distributed to the Employee
from a conduit individual retirement account meeting the requirements of clause (iii) above,
and transferred by the Employee to this Plan within sixty (60) days of receipt thereof
from such conduit individual retirement account; and (v) any other amounts which are
eligible to be rolled over to this Plan pursuant to the Code.  







	 	        (c)                      Amounts
in a Participant’s Transfer/Rollover Account shall be held by the
               Trustee pursuant to the provisions of this Plan and may not be withdrawn
by, or                distributed to the Participant, in whole or in part, except as
provided in                Section 6.10 and Section 6.11 and paragraph (d) of this
Section. The Trustee                shall have no duty or responsibility to inquire as to
the propriety of the                amount, value or type of assets transferred, nor to
conduct any due diligence                with respect to such assets; provided, however,
that such assets are otherwise                eligible to be held by the Trustee under
the terms of this Plan.  







	 	        (d)                      At
such date when the Participant or the Participant’s Beneficiary shall be
               entitled to receive benefits, the Participant’s Transfer/Rollover
Account                shall be used to provide additional benefits to the Participant or
the                Participant’s Beneficiary. Any distributions of amounts held in a
               Participant’s Transfer/Rollover Account shall be made in a manner
which is                consistent with and satisfies the provisions of Section 6.5,
including, but                not limited to, all notice and consent requirements of Code
Section 411(a)(11)                and the Regulations thereunder. Furthermore, such
amounts shall be considered as                part of a Participant’s benefit in
determining whether an involuntary                cash-out of benefits may be made
without Participant consent.  







	 	        (e)                      The
Administrator may direct that Employee transfers and rollovers made after a
               Valuation Date be segregated into a separate account for each Participant
until                such time as the allocations pursuant to this Plan have been made,
at which time                they may remain segregated or be invested as part of the
general Trust Fund or                be directed by the Participant pursuant to Section 4.12.  







	 	        (f)                      This
Plan shall not accept any direct or indirect transfers (as that term is
               defined and interpreted under Code Section 401(a)(11) and the
Regulations                thereunder) from a defined benefit plan, money purchase plan
(including a target                benefit plan), stock bonus or profit sharing plan
which would otherwise have                provided for a life annuity form of payment to
the Participant.  







	 	        (g)                      Notwithstanding
anything herein to the contrary, a transfer directly to this                Plan from
another qualified plan (or a transaction having the effect of such a
               transfer) shall only be permitted if it will not result in the elimination
or                reduction of any “Section 411(d)(6) protected benefit” as
               described in Section 8.1.  







	4.12  	DIRECTED
INVESTMENT ACCOUNT  







	 	        (a)
       Participants may, subject to a procedure established by the Administrator (the
Participant Direction Procedures) and applied in a uniform nondiscriminatory           manner, direct
the Trustee, in writing (or in such other form which is           acceptable to the
Trustee), to invest all of their accounts in specific assets,           specific funds or
other investments permitted under the Plan and the Participant           Direction
Procedures. That portion of the interest of any Participant so           directing will
thereupon be considered a Participant’s Directed Account.  







	 	        (b)
                  As of each Valuation Date, all
Participant Directed Accounts shall be charged           or credited with the net
earnings, gains, losses and expenses as well as any           appreciation or
depreciation in the market value using publicly listed fair           market values when
available or appropriate as follows:  









33 















	 	
(1)
                  to the extent that the assets in a
Participant’s Directed Account are           accounted for as pooled assets or
investments, the allocation of earnings, gains           and losses of each Participant’s
Directed Account shall be based upon the           total amount of funds so invested in a
manner proportionate to the           Participant’s share of such pooled investment;
and  






	 	
(2)
                  to the extent that the assets in the
Participant’s Directed Account are           accounted for as segregated assets, the
allocation of earnings, gains and losses           from such assets shall be made on a
separate and distinct basis.  






	 	        (c)
                  Investment directions will be
processed as soon as administratively practicable           after proper investment
directions are received from the Participant. No           guarantee is made by the Plan,
Employer, Administrator or Trustee that           investment directions will be processed
on a daily basis, and no guarantee is           made in any respect regarding the
processing time of an investment direction.           Notwithstanding any other provision
of the Plan, the Employer, Administrator or           Trustee reserves the right to not
value an investment option on any given           Valuation Date for any reason deemed
appropriate by the Employer, Administrator           or Trustee. Furthermore, the
processing of any investment transaction may be           delayed for any legitimate
business reason (including, but not limited to,           failure of systems or computer
programs, failure of the means of the           transmission of data, force majeure, the
failure of a service provider to timely           receive values or prices, and
correction for errors or omissions or the errors           or omissions of any service
provider). The processing date of a transaction will           be binding for all
purposes of the Plan and considered the applicable Valuation           Date for an
investment transaction.  







	 	        (d)
                  The Participant Direction Procedures
shall provide an explanation of the           circumstances under which Participants and
their Beneficiaries may give           investment instructions, including, but need not
be limited to, the following:  







	 	
(1)
                  the conveyance of instructions by
the Participants and their Beneficiaries to           invest Participant Directed
Accounts in Directed Investment Options;  






	 	
(2)
                  the name, address and phone number
of the Fiduciary (and, if applicable, the           person or persons designated by the
Fiduciary to act on its behalf) responsible           for providing information to the
Participant or a Beneficiary upon request           relating to the Directed Investment
Options;  






	 	
(3)
                  applicable restrictions on transfers
to and from any Designated Investment           Alternative;  






	 	
(4)
                  any restrictions on the exercise of
voting, tender and similar rights related           to a Directed Investment Option by
the Participants or their Beneficiaries;  






	 	
(5)
                  a description of any transaction
fees and expenses which affect the balances in           Participant Directed Accounts in
connection with the purchase or sale of           Directed Investment Options; and  






	 	
(6)
                  general procedures for the
dissemination of investment and other information           relating to the Designated
Investment Alternatives as deemed necessary or           appropriate, including but not
limited to a description of the following:  






	 	
(i)
                  the investment vehicles available
under the Plan, including specific           information regarding any Designated
Investment Alternative;  






	 	
(ii)
                  any designated Investment Managers;
and  






	 	
(iii)
                  a description of the additional
information which may be obtained upon request           from the Fiduciary designated to
provide such information.  








34 
















	 	        (e)                      With
respect to any Employer stock which is allocated to a Participant’s
               Directed Investment Account, the Participant or Beneficiary shall direct
the                Trustee with regard to any voting, tender and similar rights
associated with the                ownership of Employer stock, (hereinafter referred to
as the “Stock                Rights”) as follows:  







	 	
(1)                      each
Participant or Beneficiary shall direct the Trustee to vote or otherwise
               exercise such Stock Rights in accordance with the provisions, conditions
and                terms of any such Stock Rights;  






	 	
(2)                      such
directions shall be provided to the Trustee by the Participant or
               Beneficiary in accordance with the procedure as established by the
Administrator                and the Trustee shall vote or otherwise exercise such Stock
Rights with respect                to which it has received directions to do so under
this Section; and  






	 	
(3)                      to
the extent to which a Participant or Beneficiary does not instruct the
               Trustee to vote or otherwise exercise such Stock Rights, such Participants
or                Beneficiaries shall be deemed to have directed the Trustee that such
Stock                Rights remain nonvoted and unexercised.  






	 	        (f)                      Any
information regarding investments available under the Plan, to the extent
               not required to be described in the Participant Direction Procedures, may
be                provided to the Participant in one or more written documents (or in any
other                form including, but not limited to, electronic media) which are
separate from                the Participant Direction Procedures and are not thereby
incorporated by                reference into this Plan.  







	 	        (g)                      The
Administrator may, in its discretion, include in or exclude by amendment or
               other action from the Participant Direction Procedures such instructions,
               guidelines or policies as it deems necessary or appropriate to ensure
proper                administration of the Plan, and may interpret the same accordingly.  







	4.13  	QUALIFIED
MILITARY SERVICE  






        Notwithstanding
any provision of this Plan to the contrary, effective December 12, 1994,
contributions, benefits and service will be provided in accordance with Code Section
414(u). 





35 


















ARTICLE V 
VALUATIONS 



	5.1  	VALUATION
OF THE TRUST FUND  






        The
Administrator shall direct the Trustee, as of each Valuation Date, to determine the net
worth of the assets comprising the Trust Fund as it exists on the Valuation Date. In
determining such net worth, the Trustee shall value the assets comprising the Trust Fund
at their fair market value (or their contractual value in the case of a Contract or
Policy) as of the Valuation Date and shall deduct all expenses for which the Trustee has
not yet obtained reimbursement from the Employer or the Trust Fund. The Trustee may update
the value of any shares held in the Participant Directed Account by reference to the
number of shares held by that Participant, priced at the market value as of the Valuation
Date. 



	5.2  	METHOD
OF VALUATION  






        In
determining the fair market value of securities held in the Trust Fund which are listed on
a registered stock exchange, the Administrator shall direct the Trustee to value the same
at the prices they were last traded on such exchange preceding the close of business on
the Valuation Date. If such securities were not traded on the Valuation Date, or if the
exchange on which they are traded was not open for business on the Valuation Date, then
the securities shall be valued at the prices at which they were last traded prior to the
Valuation Date. Any unlisted security held in the Trust Fund shall be valued at its bid
price next preceding the close of business on the Valuation Date, which bid price shall be
obtained from a registered broker or an investment banker. In determining the fair market
value of assets other than securities for which trading or bid prices can be obtained, the
Trustee may appraise such assets itself, or in its discretion, employ one or more
appraisers for that purpose and rely on the values established by such appraiser or
appraisers. 








36 
















ARTICLE VI 
DETERMINATION AND
DISTRIBUTION OF BENEFITS 



	6.1  	DETERMINATION
OF BENEFITS UPON RETIREMENT 






        Every
Participant may terminate employment with the Employer and retire for the purposes hereof
on the Participant’s Normal Retirement Date or Early Retirement Date. However, a
Participant may postpone the termination of employment with the Employer to a later date,
in which event the participation of such Participant in the Plan, including the right to
receive allocations pursuant to Section 4.4, shall continue until such
Participant’s Late Retirement Date. Upon a Participant’s Retirement Date or
attainment of Normal Retirement Date without termination of employment with the Employer,
or as soon thereafter as is practicable, the Trustee shall distribute, at the election of
the Participant, all amounts credited to such Participant’s Combined Account in
accordance with Section 6.5. 



	6.2  	DETERMINATION
OF BENEFITS UPON DEATH  






	 	        (a)        Upon
the death of a Participant before the Participant’s Retirement Date           or
other termination of employment, all amounts credited to such           Participant’s
Combined Account shall become fully Vested. The Administrator           shall direct the
Trustee, in accordance with the provisions of Sections 6.6           and 6.7, to
distribute the value of the deceased Participant’s accounts to           the
Participant’s Beneficiary.  







	 	        (b)
                  Upon the death of a Former
Participant, the Administrator shall direct the           Trustee, in accordance with the
provisions of Sections 6.6 and 6.7, to           distribute any remaining Vested
amounts credited to the accounts of a deceased           Former Participant to such
Former Participant’s Beneficiary.  







	 	        (c)
                  Any security interest held by the
Plan by reason of an outstanding loan to the           Participant or Former Participant
shall be taken into account in determining the           amount of the death benefit.  







	 	        (d)
                  The Administrator may require such
proper proof of death and such evidence of           the right of any person to receive
payment of the value of the account of a           deceased Participant or Former
Participant as the Administrator may deem           desirable. The Administrator’s
determination of death and of the right of           any person to receive payment shall
be conclusive.  







	 	        (e)
                  The Beneficiary of the death benefit
payable pursuant to this Section shall be           the Participant’s spouse.
Except, however, the Participant may designate a           Beneficiary other than the
spouse if:  







	 	
(1)
                  the spouse has waived the right to
be the Participant’s Beneficiary, or  






	 	
(2)
                  the Participant is legally separated
or has been abandoned (within the meaning           of local law) and the Participant has
a court order to such effect (and there is           no “qualified domestic
relations order” as defined in Code           Section 414(p) which provides
otherwise), or  






	 	
(3)
                  the Participant has no spouse, or  






	 	
(4)
                  the spouse cannot be located.  






	 	        In
such event, the designation of a Beneficiary shall be made on a form satisfactory to the
Administrator. A Participant may at any time revoke a designation of a Beneficiary or
change a Beneficiary by filing written (or in such other form as permitted by the
Internal Revenue Service) notice of such revocation or change with the Administrator.
However, the Participant’s spouse must again consent in writing (or in such other
form as permitted by the Internal Revenue Service) to any change in Beneficiary unless
the original consent acknowledged that the spouse had the right to limit consent only to
a specific Beneficiary and that the spouse voluntarily elected to relinquish such right.  








37 


















	 	        (f)                      In
the event no valid designation of Beneficiary exists, or if the Beneficiary
               is not alive at the time of the Participant’s death, the death
benefit will                be paid to the Participant’s estate. If the Beneficiary
does not predecease                the Participant, but dies prior to distribution of the
death benefit, the death                benefit will be paid to the Beneficiary’s
estate.  







	 	        (g)                      Notwithstanding
anything in this Section to the contrary, if a Participant has                designated
the spouse as a Beneficiary, then a divorce decree or a legal                separation
that relates to such spouse shall revoke the Participant’s
               designation of the spouse as a Beneficiary unless the decree or a
qualified                domestic relations order (within the meaning of Code Section
414(p)) provides                otherwise.  







	 	        (h)                      Any
consent by the Participant’s spouse to waive any rights to the death
               benefit must be in writing (or in such other form as permitted by the
Internal                Revenue Service), must acknowledge the effect of such waiver, and
be witnessed                by a Plan representative or a notary public. Further, the
spouse’s consent                must be irrevocable and must acknowledge the
specific nonspouse Beneficiary.  







	6.3  	DETERMINATION
OF BENEFITS IN EVENT OF DISABILITY  






        In
the event of a Participant’s Total and Permanent Disability prior to the
Participant’s Retirement Date or other termination of employment, all amounts
credited to such Participant’s Combined Account shall become fully Vested. In the
event of a Participant’s Total and Permanent Disability, the Administrator, in
accordance with the provisions of Sections 6.5 and 6.7, shall direct the distribution
to such Participant of all Vested amounts credited to such Participant’s Combined
Account as though he had retired. In accordance with the following: 



        To
the extent that the vested portion of a disabled Participant’s Combined Account does
not exceed $5,000, a lump sum distribution shall be made to such disabled Participant
within seven (7) days (or as soon as administratively feasible thereafter) of receipt of
the proper documentation verifying the Participant’s Total and Permanent Disability. 



        To
the extent that the vested portion of a disabled Participant’s Combined Account
exceeds $5,000, a lump sum distribution shall be made to the disabled participant within
seven (7) days (or as soon as administratively feasible thereafter) following the later of
(a) the date the Participant attained or would have attained Normal Retirement Age, or (b)
the date of receipt of the proper documentation verifying Total and Permanent Disability. 



	6.4  	DETERMINATION
OF BENEFITS UPON TERMINATION  






	 	        (a)                      If
a Participant’s employment with the Employer is terminated for any
               reason other than death, Total and Permanent Disability or retirement,
then such                Participant shall be entitled to such benefits as are provided
hereinafter                pursuant to this Section 6.4.  







	 	        Distribution
of the funds due to a Terminated Participant shall be made on the occurrence of an event
which would result in the distribution had the Terminated Participant remained in the
employ of the Employer (upon the Participant’s death, Total and Permanent
Disability, Early or Normal Retirement). However, at the election of the Participant, the
Administrator shall direct the Trustee to cause the entire Vested portion of the
Terminated Participant’s Combined Account to be payable to such Terminated
Participant within seven (7) days of receipt of proper documentation indicating that the
Participant’s Employment with the Employer if terminated. Any distribution under
this paragraph shall be made in a manner which is consistent with and satisfies the
provisions of Section 6.5, including, but not limited to, all notice and consent
requirements of Code Section 411(a)(11) and the Regulations thereunder.  







	 	        If,
for Plan Years beginning after August 5, 1997, the value of a Terminated Participant’s
Vested benefit derived from Employer and Employee contributions does not exceed $5,000
($3,500 for Plan Years beginning prior to August 6, 1997) and, if the distribution
is made prior to March 22, 1999, has never exceeded $5,000 ($3,500 for Plan Years
beginning prior to August 6, 1997) at the time of any prior distribution, then the
Administrator shall direct the Trustee to cause the entire Vested benefit to be paid to
such Participant in a single lump sum within seven (7) days of receipt of the proper
documentation indicating that the Participant’s employment with the Employer is
terminated.  








38 
















	 	        (b)                      The
Vested portion of any Participant’s Account shall be a percentage of
               the total amount credited to the Participant’s Account determined on
the                basis of the Participant’s number of whole year Periods of
Service                according to the following schedule:  







Vesting Schedule 




	Periods of Service

1

2

3

4

5	Percentage

20%

40%

60%

80%

100%









	 	        (c)                      Notwithstanding
the vesting schedule above, the Vested percentage of a                Participant’s
Account shall not be less than the Vested percentage attained                as of the
later of the effective date or adoption date of this amendment and
               restatement.  







	 	        (d)                      Notwithstanding
the vesting schedule above, upon the complete discontinuance of                the
Employer contributions to the Plan or upon any full or partial termination
               of the Plan, all amounts then credited to the account of any affected
               Participant shall become 100% Vested and shall not thereafter be subject
to                Forfeiture.  







	 	        (e)                      In
addition, for purposes of this section, effective September 3, 1999, all
               service of a Former Schenectady Federal Savings Bank Employee which was
               recognized for vesting purpose under the Former Schenectady Federal
Savings Bank                401(k) Plan shall be deemed to be employment with the
Employer.  







	 	        (f)                      In
addition, for purposes of this section, effective August 1, 2001, all service
               of a Former Cohoes Savings Bank Corporation Employee which was recognized
for                vesting purposes under the Former Cohoes Savings Bank Corporation
401(k) Plan at                RSI shall be deemed to be employment with the Employer.  







	 	        (g)                      The
computation of a Participant’s nonforfeitable percentage of such
               Participant’s interest in the Plan shall not be reduced as the result
of                any direct or indirect amendment to this Plan. In the event that the
Plan is                amended to change or modify any vesting schedule, or if the Plan
is amended in                any way that directly or indirectly affects the computation
of the                Participant’s nonforfeitable percentage, or if the Plan is
deemed amended                by an automatic change to a top heavy vesting schedule,
then each Participant                with at least three (3) whole year Periods of
Service as of the expiration date                of the election period may elect to have
such Participant’s nonforfeitable                percentage computed under the Plan
without regard to such amendment or change.                If a Participant fails to make
such election, then such Participant shall be                subject to the new vesting
schedule. The Participant’s election period                shall commence on the
adoption date of the amendment and shall end sixty (60)                days after the
latest of:  







	 	
(1)                      the
adoption date of the amendment,  






	 	
(2)                      the
effective date of the amendment, or  






	 	
(3)                      the
date the Participant receives written notice of the amendment from the
               Employer or Administrator.  






	 	        (h)                      In
determining Periods of Service for purposes of vesting under the Plan,
               Periods of Service prior to the Effective Date of the Plan and prior to
the                Employee’s eighteenth birthday shall be excluded.  








39 
















	6.5  	DISTRIBUTION
OF BENEFITS  






	 	        (a)
                  The Administrator, pursuant to the
election of the Participant, shall direct           the Trustee to distribute to a
Participant or such Participant’s           Beneficiary any amount to which the
Participant is entitled under the Plan in           one lump-sum payment as the normal
form of benefit payment.  







	 	
(1)
                  In lieu of the normal form of
benefit payment an Employee whose employment           terminates due to retirement or
death and whose account value exceeds $5,000,           may, subject to the required
minimum distribution provisions, file an election           form to receive any amount to
which he is entitled under the Plan in the form of           installments over a period
not to exceed the lesser of (1) twenty (20) years, or           (2) the life expectancy
of the Participant or the life expectancy of the           Participant and his
Beneficiary.  






	 	
Payments
shall be made in cash. However, shares of the Employee Stock Fund may be distributed in
the form of whole shares with any fractional shares distributed in cash. 






	 	        Notwithstanding
the foregoing, if payments are to be made on a monthly basis and if payments are fifty
dollars ($50.00) or less, the Administrator, in its sole discretion, may determine to
make such payments in a lump-sum payment in cash or in quarterly, semiannual, or annual
installments. Payment shall be made in cash. However, shares of the Employers Stock Fund
may be distributed in the form of whole shares with any fractional shares distributed in
cash.  







	 	
(2)
                  In lieu of the normal form of
benefit payment, an Employee who incurs a           Termination of Service as of his
Retirement Date and the Net Value of his           Accounts exceeds five thousand dollars
($5,000), may file an election form to           receive the vested interest in the Net
Value of his Accounts as a lump sum           distribution as of some other Valuation
Date following his termination;           provided, however, that the Valuation Date may
not be later than thirteen (13)           months following his Termination of Service.
The vested interest in the Net           Value of his Accounts shall be distributed to
such Employee as a lump sum           distribution within seven (7) day of the Valuation
Date coincident with the date           of receipt by the Trustees of the proper
documentation indicating the           Employee’s distribution date.  






	 	
(3)
                  In lieu of the normal form of
benefit payment, an Employee who incurs a           Termination of Service as of his
Retirement Date may elect to defer receipt of           the vested interest in the Net
Value of his Accounts beyond his Normal           Retirement Date or Postponed Retirement
Date. The applicable form must be filed           at least ten (10) days prior to the
Employee’s Retirement Date. If such an           election is made, the vested
interest in the Net Value of his Accounts shall           continue to be held in the
Trust Fund. Subject to the required minimum           distribution provisions the vested
interest in the Net Value of his Accounts           shall (i) be distributed to such
Employee as a lump sum distribution within           seven (7) days of the Valuation Date
coincident with the date of receipt by the           Trustees of the proper documentation
indicating the Employee’s deferred           distribution date or (ii), upon the
election of the Employee, commence to be           distributed in installments in
accordance with the provisions of subsection (2).  






	 	        (b)                      Any
distribution to a Participant, for Plan Years beginning after August 5,
               1997, who has a benefit which exceeds $5,000 ($3,500 for Plan Years
beginning                prior to August 6, 1997) or, if the distribution is made
prior to                March 22, 1999, has ever exceeded $5,000 ($3,500 for Plan
Years beginning                prior to August 6, 1997) at the time of any prior
distribution, shall                require such Participant’s written (or in such
other form as permitted by                the Internal Revenue Service) consent if such
distribution commences prior to                the time the benefit is “immediately
distributable.” A benefit is                “immediately distributable” if
any part of the benefit could be                distributed to the Participant (or
surviving spouse) before the Participant                attains (or would have attained
if not deceased) the Normal Retirement Age.                However, for distributions
prior to October 17, 2000, if a Participant has                begun to receive
distributions pursuant to an optional form of benefit under                which at least
one scheduled periodic distribution has not yet been made, and if                the
value of the Participant’s benefit, determined at the time of the first
               distribution under that optional form of benefit, exceeded $5,000 ($3,500
for                Plan Years beginning prior to August 6, 1997), then the value of
the                Participant’s benefit prior to October 17, 2000 is deemed to
continue                to exceed such amount.  








40 

















	 	        (c)
                  The following rules will apply to
the consent requirements set forth in           subsection (b):  







	 	
(1)
                  The Participant must be informed of
the right to defer receipt of the           distribution. If a Participant fails to
consent, it shall be deemed an election           to defer the commencement of payment of
any benefit. However, any election to           defer the receipt of benefits shall not
apply with respect to distributions           which are required under Section 6.5(f).  






	 	
(2)
                  Notice of the rights specified under
this paragraph shall be provided no less           than thirty (30) days and no more than
ninety (90) days before the date the           distribution commences.  






	 	
(3)
                  Written (or such other form as
permitted by the Internal Revenue Service)           consent of the Participant to the
distribution must not be made before the           Participant receives the notice and
must not be made more than ninety (90) days           before the date the distribution
commences.  






	 	
(4)
                  No consent shall be valid if a
significant detriment is imposed under the Plan           on any Participant who does not
consent to the distribution.  






	 	        (d)
                  Effective September 3, 1999, solely
in cases of an Employee who was a           Participant in the Former Schenectady Federal
Savings Bank 401(k) Plan, if such           Participant incurs a Termination of Service
as of his Retirement Date or due to           a disability, Section 6.5(a)(1) shall apply
whether or not the net value of his           account equals or exceeds $5,000, except
that the length of the installment           period shall not exceed ten (10) years.  







	 	        Effective
September 3, 1999, solely in the case of an Employee who was a Participant in the Former
Schenectady Federal Savings Bank 401(k) Plan, if such Employee incurs a Termination of
Service as of his Early Retirement Date or if such Employee incurs a Termination of
Service due to disability, such Employee may file an election form to receive the vested
interest in his account as described in Section 6.5(a)(2) whether or not the net value of
his account exceeds $5,000.  







	 	        Effective
September 3, 1999, solely in the case of an Employee who was a Participant in the Former
Schenectady Federal Savings Bank 401(k) Plan, Section 6.5(a)(3) shall apply whether or
not the net value of the account equals or exceeds $5,000.  







	 	        Effective
September 3, 1999, solely in the case of an Employee who was a Participant in the Former
Schenectady Federal Savings Bank 401(k) Plan, who incurs a termination of service as of a
date other than Normal Retirement Date or Early Retirement Date or for reason other than
Total and Permanent Disability may, file an election form to receive vested interest in
the net value of his Participant Account as a lump sum distribution as of some other
Valuation Date following his termination; provided, however, that the Valuation Date may
not be later than thirteen (13) months following his termination of service. The vested
interest in the net value of his Participant Account shall be distributed to such
Employee as lump sum distribution as of some other Valuation Date following the date of
receipt of the proper documentation indicating the Employee’s distribution date.  







	 	        (e)
                  An Employee who terminates
Employment as of a date other than his Normal           (Early) Retirement Date or for
reasons other than Disability may, at least ten           (10) days prior to the date on
which his benefit is scheduled to be paid, file           an election form that a lump
sum distribution equal to his vested interest in           his Participant’s
Combined Account be paid in a Direct Rollover pursuant to           Section 7.12. The
amount of such lump sum distribution shall be determined as of           the Valuation
Date coincident with the date of receipt of the proper           documentation.  







	 	        Any
such distribution may commence less than thirty (30) days after the notice required under
Regulation 1.411(a)-11(c) is given, provided that: (1) the Administrator clearly
informs the Participant that the Participant has a right to a period of at least thirty
(30) days after receiving the notice to consider the decision of whether or not to elect
a distribution (and, if applicable, a particular distribution option), and (2) the
Participant, after receiving the notice, affirmatively elects a distribution.  







41 

















	 	        (f)
                  Notwithstanding any provision in the
Plan to the contrary, the distribution of           a Participant’s benefits made on
or after January 1, 1997 shall be made in           accordance with the following
requirements and shall otherwise comply with Code           Section 401(a)(9) and
the Regulations thereunder (including Regulation           1.401(a)(9)-2), the provisions
of which are incorporated herein by           reference:  







	 	
(1)
                  A Participant’s benefits shall
be distributed or must begin to be           distributed not later than April 1st of
the calendar year following the           later of (i) the calendar year in which
the Participant attains age           70 1/2 or (ii) the calendar year in which
the Participant retires,           provided, however, that this clause (ii) shall
not apply in the case of a           Participant who is a “five (5) percent owner” at
any time during the           Plan Year ending with or within the calendar year in which
such owner attains           age 70 1/2. Such distributions shall be equal to or
greater than any           required distribution.  






	 	
Alternatively,
distributions to a Participant must begin no later than the applicable April 1st as
determined under the preceding paragraph and must be made over a period certain measured
by the life expectancy of the Participant (or the life expectancies of the Participant
and the Participant’s designated Beneficiary) in accordance with Regulations. 






	 	
(2)
                  Distributions to a Participant and
the Participant’s Beneficiaries shall           only be made in accordance with the
incidental death benefit requirements of           Code Section 401(a)(9)(G) and the
Regulations thereunder.  






	 	        With
respect to distributions under the Plan made for calendar years beginning on or after
January 1, 2002, the Plan will apply the minimum distribution requirements of Code
Section 401(a)(9) in accordance with the Regulations under Code Section 401(a)(9)
that were proposed on January 17, 2001, notwithstanding any provision of the Plan to
the contrary. This amendment shall continue in effect until the end of the last calendar
year beginning before the effective date of final Regulations under Code Section
401(a)(9) or such other date specified in guidance published by the Internal Revenue
Service.  







	 	        (g)                      For
purposes of this Section, the life expectancy of a Participant and a
               Participant’s spouse may, at the election of the Participant or the
               Participant’s spouse, be redetermined in accordance with Regulations.
The                election, once made, shall be irrevocable. If no election is made by
the time                distributions must commence, then the life expectancy of the
Participant and the                Participant’s spouse shall not be subject to
recalculation. Life expectancy                and joint and last survivor expectancy
shall be computed using the return                multiples in Tables V and VI of
Regulation 1.72-9.  







	 	        (h)                      All
annuity Contracts under this Plan shall be non-transferable when
               distributed. Furthermore, the terms of any annuity Contract purchased and
               distributed to a Participant or spouse shall comply with all of the
requirements                of the Plan.  







	 	        (i)                      If
a distribution is made to a Participant who has not severed employment and
               who is not fully Vested in the Participant’s Account and the
Participant                may increase the Vested percentage in such account, then, at
any relevant time                the Participant’s Vested portion of the account
will be equal to an amount                (“X”) determined by the
formula:  







X equals P(AB plus D)
- D  



	 	        For
purposes of applying the formula: P is the Vested percentage at the relevant time, AB is
the account balance at the relevant time, and D is the amount of distribution.  







	6.6  	DISTRIBUTION
OF BENEFITS UPON DEATH  






	 	        (a)(1)                      The
death benefit payable pursuant to Section 6.2 shall be paid to the
               Participant’s Beneficiary within a reasonable time after the
               Participant’s death by either of the following methods, as elected by
the                Participant (or if no election has been made prior to the Participant’s
               death, by the Participant’s Beneficiary) subject, however, to the
rules                specified in Section 6.6(b):  







42 


















	 	
(i)
                  One lump-sum payment in cash or in
property allocated to the Participant’s           account except, however, for
property distributions made prior to the earlier of           (A) the effective date of
an amendment limiting distribution in property to           property allocated to the
Participant’s account, or (B) the adoption date           of this amendment and
restatement, distributions in property are not limited to           property in the
Participant’s account. However, shares of the Employer           Stock Fund may be
distributed in the form of whole shares with any fractional           shares distributed
in cash.  






	 	
(ii)
                  Payment in monthly, quarterly,
semi-annual, or annual cash installments over a           period not to exceed the lesser
of: (a) twenty (20) years, or (b) the life           expectancy of the Participant or the
life expectancy of the Participant and his           beneficiary. After periodic
installments commence, the Beneficiary shall have           the right to direct the
Trustee to reduce the period over which such periodic           installments shall be
made, and the Trustee shall adjust the cash amount of such           periodic
installments accordingly.  






	 	
(2)
                  In the event the death benefit
payable pursuant to Section 6.2 is payable           in installments, then, upon the
death of the Participant, the Administrator may           direct the Trustee to segregate
the death benefit into a separate account, and           the Trustee shall invest such
segregated account separately, and the funds           accumulated in such account shall
be used for the payment of the installments.  






	 	        (b)                      Notwithstanding
any provision in the Plan to the contrary, distributions upon                the death of
a Participant shall be made in accordance with the following                requirements
and shall otherwise comply with Code Section 401(a)(9) and the
               Regulations thereunder. If it is determined, pursuant to Regulations, that
the                distribution of a Participant’s interest has begun and the
Participant dies                before the entire interest has been distributed, the
remaining portion of such                interest shall be distributed at least as
rapidly as under the method of                distribution selected pursuant to Section
6.5 as of the date of death. If a                Participant dies before receiving any
distributions of the interest in the Plan                or before distributions are
deemed to have begun pursuant to Regulations, then                the death benefit shall
be distributed to the Participant’s Beneficiaries                by December 31st
of the calendar year in which the fifth anniversary of the                Participant’s
date of death occurs.  







	 	        However,
the 5-year distribution requirement of the preceding paragraph shall not apply to any
portion of the deceased Participant’s interest which is payable to or for the
benefit of a designated Beneficiary. In such event, such portion shall be distributed
over a period not extending beyond the life expectancy of such designated Beneficiary
provided such distribution begins not later than December 31st of the calendar year
immediately following the calendar year in which the Participant died. However, in the
event the Participant’s spouse (determined as of the date of the Participant’s
death) is the designated Beneficiary, the requirement that distributions commence within
one year of a Participant’s death shall not apply. In lieu thereof, distributions
must commence on or before the later of: (1) December 31st of the calendar year
immediately following the calendar year in which the Participant died; or (2) December 31st
of the calendar year in which the Participant would have attained age 70 1/2. If the
surviving spouse dies before distributions to such spouse begin, then the 5-year
distribution requirement of this Section shall apply as if the spouse was the
Participant.  







	 	        (c)                      For
purposes of this Section, the life expectancy of a Participant and a
               Participant’s spouse may, at the election of the Participant or the
               Participant’s spouse, be redetermined in accordance with Regulations.
The                election, once made, shall be irrevocable. If no election is made by
the time                distributions must commence, then the life expectancy of the
Participant and the                Participant’s spouse shall not be subject to
recalculation. Life expectancy                and joint and last survivor expectancy
shall be computed using the return                multiples in Tables V and VI of
Regulation 1.72-9.  







	 	        (d)                      For
purposes of this Section, any amount paid to a child of the Participant will
               be treated as if it had been paid to the surviving spouse if the amount
becomes                payable to the surviving spouse when the child reaches the age of
majority.  








43 
















	6.7  	TIME
OF SEGREGATION OR DISTRIBUTION  






        Except
as limited by Sections 6.5 and 6.6, whenever the Trustee is to make a distribution or to
commence a series of payments the distribution or series of payments may be made or begun
on such date or as soon thereafter as is practicable. However, unless a Former Participant
elects in writing to defer the receipt of benefits (such election may not result in a
death benefit that is more than incidental), the payment of benefits shall begin not later
than the sixtieth (60th) day after the close of the Plan Year in which the latest of the
following events occurs: (a) the date on which the Participant attains the earlier of
age 65 or the Normal Retirement Age specified herein; (b) the tenth (10th)
anniversary of the year in which the Participant commenced participation in the Plan; or
(c) the date the Participant terminates service with the Employer. 



        Notwithstanding
the foregoing, the failure of a Participant to consent to a distribution that is
“immediately distributable” (within the meaning of Section 6.5), shall be
deemed to be an election to defer the commencement of payment of any benefit sufficient to
satisfy this Section. 



	6.8  	DISTRIBUTION
FOR MINOR OR INCOMPETENT BENEFICIARY  






        In
the event a distribution is to be made to a minor or incompetent Beneficiary, then the
Administrator may direct that such distribution be paid to the legal guardian, or if none
in the case of a minor Beneficiary, to a parent of such Beneficiary or a responsible adult
with whom the Beneficiary maintains residence, or to the custodian for such Beneficiary
under the Uniform Gift to Minors Act or Gift to Minors Act, if such is permitted by the
laws of the state in which said Beneficiary resides. Such a payment to the legal guardian,
custodian or parent of a minor Beneficiary shall fully discharge the Trustee, Employer,
and Plan from further liability on account thereof. 



	6.9  	LOCATION
OF PARTICIPANT OR BENEFICIARY UNKNOWN  






        In
the event that all, or any portion, of the distribution payable to a Participant or
Beneficiary hereunder shall, at the later of the Participant’s attainment of
age 62 or Normal Retirement Age, remain unpaid solely by reason of the inability of
the Administrator, after sending a registered letter, return receipt requested, to the
last known address, and after further diligent effort, to ascertain the whereabouts of
such Participant or Beneficiary, the amount so distributable shall be treated as a
Forfeiture pursuant to the Plan. Notwithstanding the foregoing, effective January 1, 2001,
or if later, the adoption date of this amendment and restatement, if the value of a
Participant’s Vested benefit derived from Employer and Employee contributions does
not exceed $5,000 ($3,500 for Plan Years beginning prior to August 6, 1997), then the
amount distributable may, in the sole discretion of the Administrator, either be treated
as a Forfeiture, or be paid directly to an individual retirement account described in Code
Section 408(a) or an individual retirement annuity described in Code
Section 408(b) at the time it is determined that the whereabouts of the Participant
or the Participant’s Beneficiary cannot be ascertained. In the event a Participant or
Beneficiary is located subsequent to the Forfeiture, such benefit shall be restored, first
from Forfeitures, if any, and then from an additional Employer contribution if necessary.
However, regardless of the preceding, a benefit which is lost by reason of escheat under
applicable state law is not treated as a Forfeiture for purposes of this Section nor as an
impermissable forfeiture under the Code. 



	6.10  	PRE-RETIREMENT
DISTRIBUTION  






        At
such time as a Participant shall have attained the age of 59 1/2 years, the Administrator,
at the election of the Participant who has not severed employment with the Employer, shall
direct the Trustee to distribute all or a portion of the vested amount of the accounts
maintained on behalf of the Participant in the order of priority as described below.
However, no distribution from the Participant’s Account shall occur prior to 100%
vesting. In the event that the Administrator makes such a distribution, the Participant
shall continue to be eligible to participate in the Plan on the same basis as any other
Employee. Any distribution made pursuant to this Section shall be made in a manner
consistent with Section 6.5, including, but not limited to, all notice and consent
requirements of Code Section 411(a)(11) and the Regulations thereunder. The Participant
shall be entitled to withdraw all or any portion of his Accounts in the following order of
priority not more often than twice during any Plan Year: 



	 	
(i)
                  Participant’s Elective Account  






	 	
(ii)
                  Participant’s Rollover
Contribution Account provided such Participant or           Employee shall have satisfied
such additional terms and conditions, if any, as           the Administrator may deem
necessary; and  






	 	
(iii)
                  The vested portion in the Participant’s
Account attributable to matching           contributions.  






44 
















        Notwithstanding
the above, pre-retirement distributions from a Participant’s Elective Account shall
not be permitted prior to the Participant attaining age 59 1/2 except as otherwise
permitted under the terms of the Plan and distributions pursuant top this section shall
not occur more frequently than 2 times during any Plan Year. 



	6.11  	ADVANCE
DISTRIBUTION FOR HARDSHIP  






	 	        (a)
                  The Administrator, at the election
of the Participant, shall direct the Trustee           to distribute to any Participant
in any one Plan Year up to the lesser of 100%           of the Vested Participant’s
Elective Account and Participant’s Account           and Participant’s
Transfer/Rollover Account valued as of the last Valuation           Date or the amount
necessary to satisfy the immediate and heavy financial need           of the Participant.
Any distribution made pursuant to this Section shall be           deemed to be made as of
the first day of the Plan Year or, if later, the           Valuation Date immediately
preceding the date of distribution, and the           Participant’s Elective Account
and Participant’s Account and           Participant’s Transfer/Rollover Account
shall be reduced accordingly.           Withdrawal under this Section is deemed to be on
account of an immediate and           heavy financial need of the Participant only if the
withdrawal is for:  







	 	
(1)
                  Medical expenses described in Code
Section 213(d) incurred by the           Participant, the Participant’s spouse,
or any of the Participant’s           dependents (as defined in Code Section 152)
or necessary for these persons           to obtain medical care as described in Code
Section 213(d);  






	 	
(2)
                  The costs directly related to the
purchase (excluding mortgage payments) of a           principal residence for the
Participant;  






	 	
(3)
                  Payment of tuition, related
educational fees, and room and board expenses for           the next twelve (12) months
of post-secondary education for the Participant and           the Participant’s
spouse, children, or dependents; or  






	 	
(4)
                  Payments necessary to prevent the
eviction of the Participant from the           Participant’s principal residence or
foreclosure on the mortgage on that           residence.  






	 	        (b)
                  No distribution shall be made
pursuant to this Section unless the           Administrator, based upon the Participant’s
representation and such other           facts as are known to the Administrator,
determines that all of the following           conditions are satisfied: 







	 	
(1)
                  The distribution is not in excess of
the amount of the immediate and heavy           financial need of the Participant. The
amount of the immediate and heavy           financial need may include any amounts
necessary to pay any federal, state, or           local income taxes or penalties
reasonably anticipated to result from the           distribution;  






	 	
(2)
                  The Participant has obtained all
distributions, other than hardship           distributions, and all nontaxable (at the
time of the loan) loans currently           available under all plans maintained by the
Employer;  






	 	
(3)
                  The Plan, and all other plans
maintained by the Employer, provide that the           Participant’s elective
deferrals and after-tax voluntary Employee           contributions will be suspended for
at least twelve (12) months after receipt of           the hardship distribution or, the
Participant, pursuant to a legally enforceable           agreement, will suspend elective
deferrals and after-tax voluntary Employee           contributions to the Plan and all
other plans maintained by the Employer for at           least twelve (12) months after
receipt of the hardship distribution; and  






	 	
(4)
                  The Plan, and all other plans
maintained by the Employer, provide that the           Participant may not make elective
deferrals for the Participant’s taxable           year immediately following the
taxable year of the hardship distribution in           excess of the applicable limit
under Code Section 402(g) for such next           taxable year less the amount of
such Participant’s elective deferrals for           the taxable year of the hardship
distribution.  







45 

















	 	        (c)
                  Notwithstanding the above,
distributions from the Participant’s Elective           Account pursuant to this
Section shall be limited, as of the date of           distribution, to the Participant’s
Elective Account as of the end of the           last Plan Year ending before July 1,
1989, plus the total           Participant’s Deferred Compensation after such date,
reduced by the amount           of any previous distributions pursuant to this Section
and Section 6.10.  







	 	        (d)
                  Any distribution made pursuant to
this Section shall be made in a manner which           is consistent with and satisfies
the provisions of Section 6.5, including, but           not limited to, all notice and
consent requirements of Code Section 411(a)(11)           and the Regulations thereunder.  







	 	        (e)
                  Distributions for hardship
withdrawal shall be made in the following order of           priority:  







	 	 (1)    Salary
      Reduction Account 




	 	 (2)    Rollover
      Contribution Account 




	 	 (3)    Matching
      Contribution Account 






	6.12  	QUALIFIED
DOMESTIC RELATIONS ORDER DISTRIBUTION  






        All
rights and benefits, including elections, provided to a Participant in this Plan shall be
subject to the rights afforded to any “alternate payee” under a “qualified
domestic relations order.” Furthermore, a distribution to an “alternate
payee” shall be permitted if such distribution is authorized by a “qualified
domestic relations order,” even if the affected Participant has not separated from
service and has not reached the “earliest retirement age” under the Plan. For
the purposes of this Section, “alternate payee,” “qualified domestic
relations order” and “earliest retirement age” shall have the meaning set
forth under Code Section 414(p). 






46 
















ARTICLE VII
TRUSTEE 



	7.1  	BASIC
RESPONSIBILITIES OF THE TRUSTEE  






	 	        (a)                      The
Trustee shall have the following categories of responsibilities:  







	 	
(1)                      Consistent
with the “funding policy and method” determined by the                Employer,
to invest, manage, and control the Plan assets subject, however, to                the
direction of a Participant with respect to Participant Directed Accounts,
               the Employer or an Investment Manager if the Trustee should appoint such
manager                as to all or a portion of the assets of the Plan;  






	 	
(2)                      At
the direction of the Administrator, to pay benefits required under the Plan
               to be paid to Participants, or, in the event of their death, to their
               Beneficiaries; and  






	 	
(3)                      To
maintain records of receipts and disbursements and furnish to the Employer
               and/or Administrator for each Plan Year a written annual report pursuant
to                Section 7.7.  






	 	        (b)                      In
the event that the Trustee shall be directed by a Participant (pursuant to
               the Participant Direction Procedures), or the Employer, or an Investment
Manager                with respect to the investment of any or all Plan assets, the
Trustee shall have                no liability with respect to the investment of such
assets, but shall be                responsible only to execute such investment
instructions as so directed.  







	 	
(1)                      The
Trustee shall be entitled to rely fully on the written (or other form
               acceptable to the Administrator and the Trustee, including, but not
limited to,                voice recorded) instructions of a Participant (pursuant to the
Participant                Direction Procedures), or the Employer, or any Fiduciary or
nonfiduciary agent                of the Employer, in the discharge of such duties, and
shall not be liable for                any loss or other liability, resulting from such
direction (or lack of                direction) of the investment of any part of the Plan
assets.  






	 	
(2)                      The
Trustee may delegate the duty of executing such instructions to any
               nonfiduciary agent, which may be an affiliate of the Trustee or any Plan
               representative.  






	 	
(3)                      The
Trustee may refuse to comply with any direction from the Participant in the
               event the Trustee, in its sole and absolute discretion, deems such
directions                improper by virtue of applicable law. The Trustee shall not be
responsible or                liable for any loss or expense which may result from the
Trustee’s refusal                or failure to comply with any directions from the
Participant.  






	 	
(4)                      Any
costs and expenses related to compliance with the Participant’s
               directions shall be borne by the Participant’s Directed Account,
unless                paid by the Employer.  






	 	        (c)                      If
there shall be more than one Trustee, they shall act by a majority of their
               number, but may authorize one or more of them to sign papers on their
behalf.  







	7.2  	INVESTMENT
POWERS AND DUTIES OF THE TRUSTEE  






	 	        (a)                      The
Trustee shall invest and reinvest the Trust Fund to keep the Trust Fund
               invested without distinction between principal and income and in such
securities                or property, real or personal, wherever situated, as the
Trustee shall deem                advisable, including, but not limited to, stocks,
common or preferred, open-end                or closed-end mutual funds, bonds and other
evidences of indebtedness or                ownership, and real estate or any interest
therein. The Trustee shall at all                times in making investments of the Trust
Fund consider, among other factors, the                short and long-term financial
needs of the Plan on the basis of information                furnished by the Employer.
In making such investments, the Trustee shall not be                restricted to
securities or other property of the character expressly authorized                by the
applicable law for trust investments; however, the Trustee shall give due
               regard to any limitations imposed by the Code or the Act so that at all
times                the Plan may qualify as a qualified Profit Sharing Plan and Trust.  







47  
















	 	        (b)                      The
Trustee may employ a bank or trust company pursuant to the terms of its
               usual and customary bank agency agreement, under which the duties of such
bank                or trust company shall be of a custodial, clerical and record-keeping
nature.  







	 	        (c)                      The
Trustee may transfer to a common, collective, pooled trust fund or money
               market fund maintained by any corporate Trustee or affiliate thereof
hereunder,                all or such part of the Trust Fund as the Trustee may deem
advisable, and such                part or all of the Trust Fund so transferred shall be
subject to all the terms                and provisions of the common, collective, pooled
trust fund or money market fund                which contemplate the commingling for
investment purposes of such trust assets                with trust assets of other
trusts. The Trustee may transfer any part of the                Trust Fund intended for
temporary investment of cash balances to a money market                fund maintained by
Hudson River Bank & Trust Company or its affiliates. The                Trustee may
withdraw from such common, collective, pooled trust fund or money                market
fund all or such part of the Trust Fund as the Trustee may deem                advisable.  







	7.3  	OTHER
POWERS OF THE TRUSTEE  






        The
Trustee, in addition to all powers and authorities under common law, statutory authority,
including the Act, and other provisions of the Plan, shall have the following powers and
authorities, to be exercised in the Trustee’s sole discretion: 



	 	        (a)                      To
purchase, or subscribe for, any securities or other property and to retain
               the same. In conjunction with the purchase of securities, margin accounts
may be                opened and maintained;  







	 	        (b)                      To
sell, exchange, convey, transfer, grant options to purchase, or otherwise
               dispose of any securities or other property held by the Trustee, by
private                contract or at public auction. No person dealing with the Trustee
shall be bound                to see to the application of the purchase money or to
inquire into the validity,                expediency, or propriety of any such sale or
other disposition, with or without                advertisement;  







	 	        (c)                      To
vote upon any stocks, bonds, or other securities; to give general or special
               proxies or powers of attorney with or without power of substitution; to
exercise                any conversion privileges, subscription rights or other options,
and to make any                payments incidental thereto; to oppose, or to consent to,
or otherwise                participate in, corporate reorganizations or other changes
affecting corporate                securities, and to delegate discretionary powers, and
to pay any assessments or                charges in connection therewith; and generally
to exercise any of the powers of                an owner with respect to stocks, bonds,
securities, or other property. However,                the Trustee shall not vote proxies
relating to securities for which it has not                been assigned full investment
management responsibilities. In those cases where                another party has such
investment authority or discretion, the Trustee will                deliver all proxies
to said party who will then have full responsibility for                voting those
proxies;  







	 	        (d)                      To
cause any securities or other property to be registered in the Trustee’s
               own name, in the name of one or more of the Trustee’s nominees, in a
               clearing corporation, in a depository, or in book entry form or in bearer
form,                but the books and records of the Trustee shall at all times show
that all such                investments are part of the Trust Fund;  







	 	        (e)                      To
borrow or raise money for the purposes of the Plan in such amount, and upon
               such terms and conditions, as the Trustee shall deem advisable; and for
any sum                so borrowed, to issue a promissory note as Trustee, and to secure
the repayment                thereof by pledging all, or any part, of the Trust Fund; and
no person lending                money to the Trustee shall be bound to see to the
application of the money lent                or to inquire into the validity, expediency,
or propriety of any borrowing;  







	 	        (f)                      To
keep such portion of the Trust Fund in cash or cash balances as the Trustee
               may, from time to time, deem to be in the best interests of the Plan,
without                liability for interest thereon;  








48 

















	 	        (g)                      To
accept and retain for such time as the Trustee may deem advisable any
               securities or other property received or acquired as Trustee hereunder,
whether                or not such securities or other property would normally be
purchased as                investments hereunder;  







	 	        (h)                      To
make, execute, acknowledge, and deliver any and all documents of transfer and
               conveyance and any and all other instruments that may be necessary or
               appropriate to carry out the powers herein granted;  







	 	        (i)                      To
settle, compromise, or submit to arbitration any claims, debts, or damages
               due or owing to or from the Plan, to commence or defend suits or legal or
               administrative proceedings, and to represent the Plan in all suits and
legal and                administrative proceedings;  







	 	        (j)                      To
employ suitable agents and counsel and to pay their reasonable expenses and
               compensation, and such agent or counsel may or may not be agent or counsel
for                the Employer;  







	 	        (k)                      To
apply for and procure from responsible insurance companies, to be selected by
               the Administrator, as an investment of the Trust Fund such annuity, or
other                Contracts (on the life of any Participant) as the Administrator
shall deem                proper; to exercise, at any time or from time to time, whatever
rights and                privileges may be granted under such annuity, or other
Contracts; to collect,                receive, and settle for the proceeds of all such
annuity or other Contracts as                and when entitled to do so under the
provisions thereof;  







	 	        (l)                      To
invest funds of the Trust in time deposits or savings accounts bearing a
               reasonable rate of interest or in cash or cash balances without liability
for                interest thereon, including the specific authority to invest in any
type of                deposit of the Trustee (or of a financial institution related to a
Trustee);  







	 	        (m)                      To
invest in Treasury Bills and other forms of United States government
               obligations;  







	 	        (n)                      To
invest in shares of investment companies registered under the Investment
               Company Act of 1940, including any money market fund advised by or offered
               through Hudson River Bank & Trust Company;  







	 	        (o)                      To
sell, purchase and acquire put or call options if the options are traded on
               and purchased through a national securities exchange registered under the
               Securities Exchange Act of 1934, as amended, or, if the options are not
traded                on a national securities exchange, are guaranteed by a member firm
of the New                York Stock Exchange regardless of whether such options are
covered;  







	 	        (p)                      To
deposit monies in federally insured savings accounts or certificates of
               deposit in banks or savings and loan associations including the specific
               authority to make deposit into any savings accounts or certificates of
deposit                of the Trustee (or a financial institution related to the
Trustee);  







	 	        (q)                      To
pool all or any of the Trust Fund, from time to time, with assets belonging
               to any other qualified employee pension benefit trust created by the
Employer or                any Affiliated Employer, and to commingle such assets and make
joint or common                investments and carry joint accounts on behalf of this
Plan and Trust and such                other trust or trusts, allocating undivided shares
or interests in such                investments or accounts or any pooled assets of the
two or more trusts in                accordance with their respective interests;  







	 	        (r)                      To
appoint a nonfiduciary agent or agents to assist the Trustee in carrying out
               any investment instructions of Participants and of any Investment Manager
or                Fiduciary, and to compensate such agent(s) from the assets of the Plan,
to the                extent not paid by the Employer;  







	 	        (s)                      To
do all such acts and exercise all such rights and privileges, although not
               specifically mentioned herein, as the Trustee may deem necessary to carry
out                the purposes of the Plan.  








49 
















	7.4  	LOANS
TO PARTICIPANTS  






	 	        (a)
                  The Trustee may, in the Trustee’s
discretion, make loans to Participants           and Beneficiaries under the following
circumstances: (1) loans shall be           made available to all Participants and
Beneficiaries on a reasonably equivalent           basis; (2) loans shall not be
made available to Highly Compensated           Employees in an amount greater than the
amount made available to other           Participants and Beneficiaries; (3) loans
shall bear a reasonable rate of           interest; (4) loans shall be adequately
secured; and (5) loans shall           provide for periodic repayment over a
reasonable period of time.  







	 	        (b)
                  Loans made pursuant to this Section
(when added to the outstanding balance of           all other loans made by the Plan to
the Participant) may, in accordance with a           uniform and nondiscriminatory policy
established by the Administrator, be           limited to the lesser of:  







	 	
(1)
                  $50,000 reduced by the excess (if
any) of the highest outstanding balance of           loans from the Plan to the
Participant during the one year period ending on the           day before the date on
which such loan is made, over the outstanding balance of           loans from the Plan to
the Participant on the date on which such loan was made,           or  






	 	
(2)
                  one-half (1/2) of the present value
of the non-forfeitable accrued benefit of           the Participant under the Plan.  






	 	        For
purposes of this limit, all plans of the Employer shall be considered one plan.
Additionally, with respect to any loan made prior to January 1, 1987, the $50,000 limit
specified in (1) above shall be unreduced.  







	 	        (c)
                  Loans shall provide for level
amortization with payments to be made not less           frequently than quarterly over a
period not to exceed five (5) years. However,           loans used to acquire any
dwelling unit which, within a reasonable time, is to           be used (determined at the
time the loan is made) as a “principal           residence” of the Participant
shall provide for periodic repayment over a           period of fifteen (15) years. For
this purpose, a “principal           residence” has the same meaning as a “principal
residence” under           Code Section 1034. Loan repayments may be suspended under
this Plan as permitted           under Code Section 414(u)(4).  







	 	        (d)
                  Any loans granted or renewed shall
be made pursuant to a Participant loan           program. Such loan program shall be
established in writing and must include, but           need not be limited to, the
following:  







	 	
(1)
                  the identity of the person or
positions authorized to administer the           Participant loan program;  






	 	
(2)
                  a procedure for applying for loans;  






	 	
(3)
                  the basis on which loans will be
approved or denied;  






	 	
(4)
                  limitations, if any, on the types
and amounts of loans offered;  






	 	
(5)
                  the procedure under the program for
determining a reasonable rate of interest;  






	 	
(6)
                  the types of collateral which may
secure a Participant loan; and  






	 	
(7)
                  the events constituting default and
the steps that will be taken to preserve           Plan assets.  






	 	        Such
Participant loan program shall be contained in a separate written document which, when
properly executed, is hereby incorporated by reference and made a part of the Plan.
Furthermore, such Participant loan program may be modified or amended in writing from
time to time without the necessity of amending this Section.  








50 

















	 	        (e)                      Notwithstanding
anything in this Plan to the contrary, if a Participant or                Beneficiary
defaults on a loan made pursuant to this Section, then the loan                default
will be a distributable event to the extent permitted by the Code and
               Regulations.  







	 	        (f)                      Notwithstanding
anything in this Section to the contrary, any loans made prior                to the date
this amendment and restatement is adopted shall be subject to the                terms of
the plan in effect at the time such loan was made.  







	7.5  	DUTIES
OF THE TRUSTEE REGARDING PAYMENTS  






        At
the direction of the Administrator, the Trustee shall, from time to time, in accordance
with the terms of the Plan, make payments out of the Trust Fund. The Trustee shall not be
responsible in any way for the application of such payments. 



	7.6  	TRUSTEE’S
COMPENSATION AND EXPENSES AND TAXES  






        The
Trustee shall be paid such reasonable compensation as set forth in the Trustee’s fee
schedule (if the Trustee has such a schedule) or as agreed upon in writing by the Employer
and the Trustee. However, an individual serving as Trustee who already receives full-time
pay from the Employer shall not receive compensation from the Plan. In addition, the
Trustee shall be reimbursed for any reasonable expenses, including reasonable counsel fees
incurred by it as Trustee. Such compensation and expenses shall be paid from the Trust
Fund unless paid or advanced by the Employer. All taxes of any kind whatsoever that may be
levied or assessed under existing or future laws upon, or in respect of, the Trust Fund or
the income thereof, shall be paid from the Trust Fund. 



	7.7  	ANNUAL
REPORT OF THE TRUSTEE  






	 	        (a)                      Within
a reasonable period of time after the later of the Anniversary Date or
               receipt of the Employer contribution for each Plan Year, the Trustee, or
its                agent, shall furnish to the Employer and Administrator a written
statement of                account with respect to the Plan Year for which such
contribution was made                setting forth:  







	 	
(1)                      the
net income, or loss, of the Trust Fund;  






	 	
(2)                      the
gains, or losses, realized by the Trust Fund upon sales or other disposition
               of the assets;  






	 	
(3)                      the
increase, or decrease, in the value of the Trust Fund;  






	 	
(4)                      all
payments and distributions made from the Trust Fund; and  






	 	
(5)                      such
further information as the Trustee and/or Administrator deems appropriate.  






	 	        (b)                      The
Employer, promptly upon its receipt of each such statement of account, shall
               acknowledge receipt thereof in writing and advise the Trustee and/or
               Administrator of its approval or disapproval thereof. Failure by the
Employer to                disapprove any such statement of account within thirty (30)
days after its                receipt thereof shall be deemed an approval thereof. The
approval by the                Employer of any statement of account shall be binding on
the Employer and the                Trustee as to all matters contained in the statement
to the same extent as if                the account of the Trustee had been settled by
judgment or decree in an action                for a judicial settlement of its account
in a court of competent jurisdiction in                which the Trustee, the Employer
and all persons having or claiming an interest                in the Plan were parties.
However, nothing contained in this Section shall                deprive the Trustee of
its right to have its accounts judicially settled if the                Trustee so
desires.  







	7.8  	AUDIT  






	 	        (a)                      If
an audit of the Plan’s records shall be required by the Act and the
               regulations thereunder for any Plan Year, the Administrator shall direct
the                Trustee to engage on behalf of all Participants an independent
qualified public                accountant for that purpose. Such accountant shall, after
an audit of the books                and records of the Plan in accordance with generally
accepted auditing                standards, within a reasonable period after the close of
the Plan Year, furnish                to the Administrator and the Trustee a report of
the audit setting forth the                accountant’s opinion as to whether any
statements, schedules or lists that                are required by Act Section 103 or the
Secretary of Labor to be filed with the                Plan’s annual report, are
presented fairly in conformity with generally                accepted accounting
principles applied consistently.  








51 
















	 	        (b)                      All
auditing and accounting fees shall be an expense of and may, at the election
               of the Employer, be paid from the Trust Fund.  







	 	        (c)                      If
some or all of the information necessary to enable the Administrator to
               comply with Act Section 103 is maintained by a bank, insurance company, or
               similar institution, regulated, supervised, and subject to periodic
examination                by a state or federal agency, then it shall transmit and
certify the accuracy of                that information to the Administrator as provided
in Act Section 103(b) within                one hundred twenty (120) days after the end
of the Plan Year or such other date                as may be prescribed under regulations
of the Secretary of Labor.  







	7.9  	RESIGNATION,
REMOVAL AND SUCCESSION OF TRUSTEE  






	 	        (a)                      Unless
otherwise agreed to by both the Trustee and the Employer, a Trustee may
               resign at any time by delivering to the Employer, at least thirty (30)
days                before its effective date, a written notice of resignation.  







	 	        (b)                      Unless
otherwise agreed to by both the Trustee and the Employer, the Employer                may
remove a Trustee at any time by delivering to the Trustee, at least thirty
               (30) days before its effective date, a written notice of such Trustee’s
               removal.  







	 	        (c)                      Upon
the death, resignation, incapacity, or removal of any Trustee, a successor
               may be appointed by the Employer; and such successor, upon accepting such
               appointment in writing and delivering same to the Employer, shall, without
               further act, become vested with all the powers and responsibilities of the
               predecessor as if such successor had been originally named as a Trustee
herein.                Until such a successor is appointed, the remaining Trustee or
Trustees shall                have full authority to act under the terms of the Plan.  







	 	        (d)                      The
Employer may designate one or more successors prior to the death,
               resignation, incapacity, or removal of a Trustee. In the event a successor
is so                designated by the Employer and accepts such designation, the
successor shall,                without further act, become vested with all the powers
and responsibilities of                the predecessor as if such successor had been
originally named as Trustee herein                immediately upon the death,
resignation, incapacity, or removal of the                predecessor.  







	 	        (e)                      Whenever
any Trustee hereunder ceases to serve as such, the Trustee shall                furnish
to the Employer and Administrator a written statement of account with
               respect to the portion of the Plan Year during which the individual or
entity                served as Trustee. This statement shall be either (i) included
as part of                the annual statement of account for the Plan Year required
under Section 7.7 or                (ii) set forth in a special statement. Any such
special statement of                account should be rendered to the Employer no later
than the due date of the                annual statement of account for the Plan Year.
The procedures set forth in                Section 7.7 for the approval by the Employer
of annual statements of account                shall apply to any special statement of
account rendered hereunder and approval                by the Employer of any such
special statement in the manner provided in Section                7.7 shall have the
same effect upon the statement as the Employer’s                approval of an
annual statement of account. No successor to the Trustee shall                have any
duty or responsibility to investigate the acts or transactions of any
               predecessor who has rendered all statements of account required by Section
7.7                and this subparagraph.  







	7.10  	TRANSFER
OF INTEREST  






        Notwithstanding
any other provision contained in this Plan, the Trustee at the direction of the
Administrator shall transfer the Vested interest, if any, of a Participant to another
trust forming part of a pension, profit sharing or stock bonus plan maintained by such
Participant’s new employer and represented by said employer in writing as meeting the
requirements of Code Section 401(a), provided that the trust to which such transfers
are made permits the transfer to be made. 






52 
















	7.11  	TRUSTEE
INDEMNIFICATION  






        The
Employer agrees to indemnify and hold harmless the Trustee against any and all claims,
losses, damages, expenses and liabilities the Trustee may incur in the exercise and
performance of the Trustee’s power and duties hereunder, unless the same are
determined to be due to gross negligence or willful misconduct. 



	7.12  	DIRECT
ROLLOVER  






	 	        (a)
                  Notwithstanding any provision of the
Plan to the contrary that would otherwise           limit a “distributee’s” election
under this Section, a           “distributee” may elect, at the time and in the
manner prescribed by           the Administrator, to have any portion of an “eligible
rollover           distribution” that is equal to at least $500 paid directly to an
          “eligible retirement plan” specified by the “distributee” in
          a “direct rollover.” 







	 	        (b)
                  For purposes of this Section the
following definitions shall apply:  







	 	
(1)
                  An “eligible rollover
distribution” is any distribution of all or any           portion of the balance to
the credit of the “distributee,” except that           an “eligible
rollover distribution” does not include: any distribution           that is one of a
series of substantially equal periodic payments (not less           frequently than
annually) made for the life (or life expectancy) of the           “distributee” or
the joint lives (or joint life expectancies) of the           “distributee” and
the “distributee’s” designated           beneficiary, or for a specified
period of ten years or more; any distribution to           the extent such distribution
is required under Code Section 401(a)(9); the           portion of any other
distribution that is not includible in gross income           (determined without regard
to the exclusion for net unrealized appreciation with           respect to employer
securities); for distributions after December 31, 1999, any           hardship
distribution described in Code Section 401(k)(2)(B)(i)(IV); and any           other
distribution that is reasonably expected to total less than $200 during a           year.  






	 	
(2)
                  An “eligible retirement plan” is
an individual retirement account           described in Code Section 408(a), an
individual retirement annuity           described in Code Section 408(b), an annuity
plan described in Code           Section 403(a), or a qualified trust described in
Code Section 401(a),           that accepts the “distributee’s” “eligible
rollover           distribution.” However, in the case of an “eligible rollover
          distribution” to the surviving spouse, an “eligible retirement
          plan” is an individual retirement account or individual retirement
annuity.  






	 	
(3)
                  A “distributee” includes
an Employee or former Employee. In addition,           the Employee’s or former
Employee’s surviving spouse and the           Employee’s or former Employee’s
spouse or former spouse who is the           alternate payee under a qualified domestic
relations order, as defined in Code           Section 414(p), are “distributees” with
regard to the interest of           the spouse or former spouse.  






	 	
(4)
                  A “direct rollover” is a
payment by the Plan to the “eligible           retirement plan” specified by
the “distributee.” 






	7.13  	VOTING
RIGHTS  






        Each
Participant with units in the Employer Stock Fund shall have the right to participate
confidentially in the exercise of voting rights appurtenant to shares held in the
Participant’s Account, provided that such person had units in his Participant
Account as of the most recent Valuation Date coincident with or preceding the applicable
record date for which records are available. Such participation shall be achieved by
completing and filing with the inspector of elections, or such other person who shall be
independent of the issuer of shares as the Administrator shall designate, at least ten
(10) days prior to the date of the meeting of holders of shares at which such voting
rights will be exercised, a written direction in the form and manner prescribed by the
Administrator. The inspector of elections, or other such person designated by the
Administrator shall tabulate the directions given on a strictly confidential basis, and
shall provide the Administrator with only the final results of the tabulations. The final
results of the tabulation shall be followed by the Administrator in the direction as to
the manner in which such voting rights shall be exercised. As to each matter in which the
holders of shares are entitled to vote:  





	 	        (a)                 A
number of affirmative votes shall be cast equal to the product of:  








53 

















	 	
(i)                      the
total number of shares held in the Employer Stock Fund as of the applicable
               record date; and  






	 	
(ii)                      a
fraction, the numerator of which is the aggregate value (as of the Valuation
               Date coincident with or immediately preceding the applicable record date)
of the                units in the Employer Stock Fund of all persons directing that an
affirmative                vote be cast, and the denominator of which is the aggregate
value (as of the                Valuation Date coincident with or immediately preceding
the applicable record                date) of the units in the Employer Stock Fund of all
persons directing that an                affirmative or negative vote be cast; and  






	 	        (b)                 A
number of negative votes shall be cast equal to the product of:  







	 	
(i)
                  the total number of shares held in
the Employer Stock Fund as of the applicable           record date; and  






	 	
(ii)
                  a fraction, the numerator of which
is the aggregate value (as of the Valuation           Date coincident with or immediately
preceding the applicable record date) of the           units in the Employer Stock Fund
of all person directing that a negative vote be           cast, and the denominator of
which is the aggregate value (as of the Valuation           Date coincident with or
immediately preceding the applicable record date) of the           units in the Employer
Stock Fund of all persons directing that an affirmative or           negative vote be
cast.  






The Administrator shall furnish, or
cause to be furnished, to each person with units in the Employer Stock Fund, all annual
reports, proxy materials and other information know to have been furnished by the issuer
of the shares or by any proxy solicitor, to the holders of shares. 



	7.14  	TENDER
OFFERS AND OTHER OFFERS  






        Each
Participant with units in the Employer Stock Fund shall have the right to participate
confidentially in the response to a tender offer, or any other offer, made to the holders
of shares generally, to purchase, exchange, redeem or otherwise transfer shares; provided
that such person has units in the Employer Stock Fund as of the Valuation Date coincident
with or immediately preceding the first day for delivering shares or otherwise responding
to such tender or other offers. Such participation shall be achieved by completing and
filing with the inspector of elections, or such other person who shall be independent of
the issuer of shares as the Administrator shall designate, at least ten (10) days prior
to the last day for delivering shares or otherwise responding to such tender or other
offer, a written direction in the form and manner prescribed by the Administrator. The
inspector of election, or other such person designated by the Administrator shall
tabulate the directions given on a strictly confidential basis, and shall provide the
Administrator with only the final results of tabulation. The final results of tabulation
shall be followed by the Administrator in the direction as to the number of shares to be
delivered. On the last day for delivering shares or otherwise responding to such tender
or other offer, a number of shares equal to the product of :  





	 	        (a)
                            the total number of shares
held in the Employer Stock Fund; and  







	 	        (b)
                            a fraction, the numerator
of which is the aggregate value (as of the Valuation                     Date coincident
with or immediately preceding the first day for delivering                     shares or
otherwise responding to such tender or other offer) of the units in
                    the Employer Stock Fund of all persons directing that shares be
delivered in                     response to such tender or other offer, and the
denominator of which is the                     aggregate value (as of the Valuation Date
coincident with or immediately                     preceding the first day for delivering
shares or otherwise responding to such                     tender or other offer) of the
units in the Employer Stock Fund of all persons                     directing that shares
be delivered or that the delivery of shares be withheld;  







shall be delivered in response to
such tender or other offer. Delivery of the remaining then held in the Employer Stock
Fund shall be withheld. The Administrator shall furnish, or cause to be furnished, to
each person whose Account is invested in whole or in part in the Employer Stock Fund, all
information concerning such tender offer furnished by the issuer of shares, or
information furnished by or on behalf of the person making the tender or such other
offer.  



	7.15  	DISSENTERS’RIGHTS 






        Each
Participant with units in the Employer Stock Fund shall have the right to participate
confidentially in the decision as to whether to exercise the Dissenter’ rights
appurtenant to shares held in such Investment Account, provided that such person had
units in such Account as of the most recent Valuation Date coincident with or preceding
the applicable record date for which records are available. Such participation shall be
achieved by completing and filing with the inspector of elections, or such other person
who shall be independent of the issuer of shares as the Administrator shall designate, at
least ten (10) days prior to the date of the meeting of holders of shares at which such
dissenters’ rights will be exercised, a written direction in the form and manner
prescribed by the Administrator. The inspector of elections, or other such person
designated by the Administrator shall tabulate the directions given on a strictly
confidential basis, and shall provide the Administrator with only the final results of
the tabulation. The final results of the tabulation shall be followed by the
Administrator in the direction as to the manner with which such dissenters’ rights
shall be exercised. As to each matter in which the holders of shares are entitled to
exercise dissenters’rights.  




54 
















        The
number of shares for which dissenters’ rights will be exercised shall be equal to the
product of: 



	 	        (a)
               the total number of shares held in the Employer Stock Fund as of the
applicable                record date; and  







	 	        (b)
               a fraction, the numerator of which is the aggregate value (as of the
Valuation                Date coincident with or immediately preceding the applicable
record date) of the                units in the Employer Stock Fund of all persons
directing that the                dissenters’ rights appurtenant to which shares be
exercised, and the                denominator of which is the aggregate value (as of the
Valuation Date coincident                with or immediately preceding the applicable
record date) of all of the units in                the Employer Stock Fund.  







        Dissenters’rights
shall not be exercised with respect to the remaining shares held in the Employer Stock
Fund.  





	7.16  	EMPLOYER
SECURITIES AND REAL PROPERTY  






        The
Trustee shall be empowered to acquire and hold “qualifying Employer securities”
and “qualifying Employer real property,” as those terms are defined in the Act,
provided, however, that the Trustee shall not be permitted to acquire any “qualifying
Employer securities” or “qualifying Employer real property” if, immediately
after the acquisition of such securities or property, the fair market value of all
“qualifying Employer securities” and “qualifying Employer real
property” held by the Trustee hereunder should amount to more than 100% of the fair
market value of all the assets in the Trust Fund. 







55 
















ARTICLE VIII
AMENDMENT, TERMINATION
AND MERGERS 



	8.1  	AMENDMENT 






	 	        (a)
                  The Employer shall have the right at
any time to amend this Plan, subject to           the limitations of this Section.
However, any amendment which affects the           rights, duties or responsibilities of
the Trustee or Administrator may only be           made with the Trustee’s or
Administrator’s written consent. Any such           amendment shall become effective
as provided therein upon its execution. The           Trustee shall not be required to
execute any such amendment unless the amendment           affects the duties of the
Trustee hereunder.  







	 	        (b)
                  No amendment to the Plan shall be
effective if it authorizes or permits any           part of the Trust Fund (other than
such part as is required to pay taxes and           administration expenses) to be used
for or diverted to any purpose other than           for the exclusive benefit of the
Participants or their Beneficiaries or estates;           or causes any reduction in the
amount credited to the account of any           Participant; or causes or permits any
portion of the Trust Fund to revert to or           become property of the Employer.  







	 	        (c)
                  Except as permitted by Regulations
(including Regulation 1.411(d)-4) or other           IRS guidance, no Plan amendment or
transaction having the effect of a Plan           amendment (such as a merger, plan
transfer or similar transaction) shall be           effective if it eliminates or reduces
any “Section 411(d)(6) protected           benefit” or adds or modifies
conditions relating to “Section 411(d)(6)           protected benefits” which
results in a further restriction on such benefits           unless such “Section
411(d)(6) protected benefits” are preserved with           respect to benefits
accrued as of the later of the adoption date or effective           date of the
amendment. “Section 411(d)(6) protected benefits” are           benefits
described in Code Section 411(d)(6)(A), early retirement benefits and
          retirement-type subsidies, and optional forms of benefit. A Plan amendment that
          eliminates or restricts the ability of a Participant to receive payment of the
          Participant’s interest in the Plan under a particular optional form of
          benefit will be permissible if the amendment satisfies the conditions in (1)
and           (2) below: 







	 	
(1)
                  The amendment provides a single-sum
distribution form that is otherwise           identical to the optional form of benefit
eliminated or restricted. For purposes           of this condition (1), a single-sum
distribution form is otherwise identical           only if it is identical in all
respects to the eliminated or restricted optional           form of benefit (or would be
identical except that it provides greater rights to           the Participant) except
with respect to the timing of payments after           commencement.  






	 	
(2)
                  The amendment is not effective
unless the amendment provides that the amendment           shall not apply to any
distribution with an annuity starting date earlier than           the earlier of: (i) the
ninetieth (90th) day after the date the Participant           receiving the distribution
has been furnished a summary that reflects the           amendment and that satisfies the
Act requirements at 29 CFR 2520.104b-3           (relating to a summary of material
modifications) or (ii) the first day of the           second Plan Year following the Plan
Year in which the amendment is adopted.  






	8.2  	TERMINATION  






		(a)       
      The Employer shall have the right at any time to terminate the Plan by delivering
      to the Trustee and Administrator written notice of such termination. Upon
      any full or partial termination, all amounts credited to the affected Participants’
      Combined Accounts shall become 100% Vested as provided in Section 6.4 and
      shall not thereafter be subject to forfeiture, and all unallocated amounts,
      including Forfeitures, shall be allocated to the accounts of all Participants
      in accordance with the provisions hereof. 






		(b)       
      Upon the full termination of the Plan, the Employer shall direct the distribution
      of the assets of the Trust Fund to Participants in a manner which is consistent
      with and satisfies the provisions of Section 6.5. Distributions to a Participant
      shall be made in cash or in property allocated to the Participant’s
      account or through the purchase of irrevocable nontransferable deferred
      commitments from an insurer except, however, for property distributions
      made prior to the earlier of (A) the effective date of an amendment limiting
      distribution in property to property allocated to the Participant’s
      account, or (B) the adoption date of this amendment and restatement, distributions
      in property are not limited to property in the Participant’s account.
      Except as permitted by Regulations, the termination of the Plan shall not
      result in the reduction of “Section 411(d)(6) protected benefits”
      in accordance with Section 8.1(c). 







56 

















	8.3  	MERGER,
CONSOLIDATION OR TRANSFER OF ASSETS  






        This
Plan and Trust may be merged or consolidated with, or its assets and/or liabilities may be
transferred to any other plan and trust only if the benefits which would be received by a
Participant of this Plan, in the event of a termination of the Plan immediately after such
transfer, merger or consolidation, are at least equal to the benefits the Participant
would have received if the Plan had terminated immediately before the transfer, merger or
consolidation, and such transfer, merger or consolidation does not otherwise result in the
elimination or reduction of any “Section 411(d)(6) protected benefits” in
accordance with Section 8.1(c). 









57 

















ARTICLE IX 
TOP HEAVY 



	9.1  	TOP
HEAVY PLAN REQUIREMENTS  






        For
any Top Heavy Plan Year, the Plan shall provide the special vesting requirements of Code
Section 416(b) pursuant to Section 6.4 of the Plan and the special minimum allocation
requirements of Code Section 416(c) pursuant to Section 4.4 of the Plan. 



	9.2  	DETERMINATION
OF TOP HEAVY STATUS  






	 	        (a)                      This
Plan shall be a Top Heavy Plan for any Plan Year in which, as of the
               Determination Date, (1) the Present Value of Accrued Benefits of Key
               Employees and (2) the sum of the Aggregate Accounts of Key Employees
under                this Plan and all plans of an Aggregation Group, exceeds sixty
percent (60%) of                the Present Value of Accrued Benefits and the Aggregate
Accounts of all Key and                Non-Key Employees under this Plan and all plans of
an  







	 	        Aggregation
Group. 







	 	        If
any Participant is a Non-Key Employee for any Plan Year, but such Participant was a Key
Employee for any prior Plan Year, such Participant’s Present Value of Accrued
Benefit and/or Aggregate Account balance shall not be taken into account for purposes of
determining whether this Plan is a Top Heavy Plan (or whether any Aggregation Group which
includes this Plan is a Top Heavy Group). In addition, if a Participant or Former
Participant has not performed any services for any Employer maintaining the Plan at any
time during the five year period ending on the Determination Date, any accrued benefit
for such Participant or Former Participant shall not be taken into account for the
purposes of determining whether this Plan is a Top Heavy Plan.  







	 	        (b)
                  Aggregate Account: A Participant’s
Aggregate Account as of the           Determination Date is the sum of:  







	 	
(1)
                  the Participant’s Combined
Account balance as of the most recent valuation           occurring within a twelve (12)
month period ending on the Determination Date.  






	 	
(2)
                  an adjustment for any contributions
due as of the Determination Date. Such           adjustment shall be the amount of any
contributions actually made after the           Valuation Date but due on or before the
Determination Date, except for the first           Plan Year when such adjustment shall
also reflect the amount of any           contributions made after the Determination Date
that are allocated as of a date           in that first Plan Year.  






	 	
(3)
                  any Plan distributions made within
the Plan Year that includes the           Determination Date or within the four (4)
preceding Plan Years. However, in the           case of distributions made after the
Valuation Date and prior to the           Determination Date, such distributions are not
included as distributions for top           heavy purposes to the extent that such
distributions are already included in the           Participant’s Aggregate Account
balance as of the Valuation Date.           Notwithstanding anything herein to the
contrary, all distributions, including           distributions under a terminated plan
which if it had not been terminated would           have been required to be included in
an Aggregation Group, will be counted.           Further, distributions from the Plan
(including the cash value of life insurance           policies) of a Participant’s
account balance because of death shall be           treated as a distribution for the
purposes of this paragraph.  






	 	
(4)
                  any Employee contributions, whether
voluntary or mandatory. However, amounts           attributable to tax deductible
qualified voluntary employee contributions shall           not be considered to be a part
of the Participant’s Aggregate Account           balance.  






58 

















	 	
(5)
                  with respect to unrelated rollovers
and plan-to-plan transfers (ones which are           both initiated by the Employee and
made from a plan maintained by one employer           to a plan maintained by another
employer), if this Plan provides the rollovers           or plan-to-plan transfers, it
shall always consider such rollovers or           plan-to-plan transfers as a
distribution for the purposes of this Section. If           this Plan is the plan
accepting such rollovers or plan-to-plan transfers, it           shall not consider such
rollovers or plan-to-plan transfers as part of the           Participant’s Aggregate
Account balance.  






	 	
(6)
                  with respect to related rollovers
and plan-to-plan transfers (ones either not           initiated by the Employee or made
to a plan maintained by the same employer), if           this Plan provides the rollover
or plan-to-plan transfer, it shall not be           counted as a distribution for
purposes of this Section. If this Plan is the plan           accepting such rollover or
plan-to-plan transfer, it shall consider such           rollover or plan-to-plan transfer
as part of the Participant’s Aggregate           Account balance, irrespective of
the date on which such rollover or plan-to-plan           transfer is accepted.  






	 	
(7)
                  For the purposes of determining
whether two employers are to be treated as the           same employer in (5) and (6)
above, all employers aggregated under Code           Section 414(b), (c), (m) and
(o) are treated as the same employer.  






	 	        (c)
                  “Aggregation Group” means
either a Required Aggregation Group or a           Permissive Aggregation Group as
hereinafter determined.  







	 	
(1)
                  Required Aggregation Group: In
determining a Required Aggregation Group           hereunder, each plan of the Employer
in which a Key Employee is a participant in           the Plan Year containing the
Determination Date or any of the four preceding           Plan Years, and each other plan
of the Employer which enables any plan in which           a Key Employee participates to
meet the requirements of Code           Sections 401(a)(4) or 410, will be required
to be aggregated. Such group           shall be known as a Required Aggregation Group.  






	 	
In
the case of a Required Aggregation Group, each plan in the group will be considered a Top
Heavy Plan if the Required Aggregation Group is a Top Heavy Group. No plan in the
Required Aggregation Group will be considered a Top Heavy Plan if the Required
Aggregation Group is not a Top Heavy Group. 






	 	
(2)
                  Permissive Aggregation Group: The
Employer may also include any other plan not           required to be included in the
Required Aggregation Group, provided the           resulting group, taken as a whole,
would continue to satisfy the provisions of           Code Sections 401(a)(4) and
410. Such group shall be known as a Permissive           Aggregation Group.  






	 	
In
the case of a Permissive Aggregation Group, only a plan that is part of the Required
Aggregation Group will be considered a Top Heavy Plan if the Permissive Aggregation Group
is a Top Heavy Group. No plan in the Permissive Aggregation Group will be considered a
Top Heavy Plan if the Permissive Aggregation Group is not a Top Heavy Group. 






	 	
(3)
                  Only those plans of the Employer in
which the Determination Dates fall within           the same calendar year shall be
aggregated in order to determine whether such           plans are Top Heavy Plans.  






	 	
(4)
                  An Aggregation Group shall include
any terminated plan of the Employer if it           was maintained within the last five
(5) years ending on the Determination Date.  






	 	        (d)
                  “Determination Date” means
(a) the last day of the preceding           Plan Year, or (b) in the case of
the first Plan Year, the last day of such           Plan Year.  







	 	        (e)
                  Present Value of Accrued Benefit: In
the case of a defined benefit plan, the           Present Value of Accrued Benefit for a
Participant other than a Key Employee,           shall be as determined using the single
accrual method used for all plans of the           Employer and Affiliated Employers, or
if no such single method exists, using a           method which results in benefits
accruing not more rapidly than the slowest           accrual rate permitted under Code
Section 411(b)(1)(C). The determination of the           Present Value of Accrued Benefit
shall be determined as of the most recent           Valuation Date that falls within or
ends with the 12-month period ending on the           Determination Date except as
provided in Code Section 416 and the Regulations           thereunder for the first and
second plan years of a defined benefit plan.  







59 

















	 	        (f)
                  “Top Heavy Group” means an
Aggregation Group in which, as of the           Determination Date, the sum of:  







	 	
(1)
                  the Present Value of Accrued
Benefits of Key Employees under all defined           benefit plans included in the
group, and  






	 	
(2)
                  the Aggregate Accounts of Key
Employees under all defined contribution plans           included in the group,  






	 	
exceeds
sixty percent (60%) of a similar sum determined for all                   Participants. 







60 

















ARTICLE X 
MISCELLANEOUS 



	10.1  	PARTICIPANT’S
RIGHTS  






        This
Plan shall not be deemed to constitute a contract between the Employer and any Participant
or to be a consideration or an inducement for the employment of any Participant or
Employee. Nothing contained in this Plan shall be deemed to give any Participant or
Employee the right to be retained in the service of the Employer or to interfere with the
right of the Employer to discharge any Participant or Employee at any time regardless of
the effect which such discharge shall have upon the Employee as a Participant of this
Plan. 



	10.2  	ALIENATION  






	 	        (a)                      Subject
to the exceptions provided below, and as otherwise permitted by the Code
               and the Act, no benefit which shall be payable out of the Trust Fund to
any                person (including a Participant or the Participant’s Beneficiary)
shall be                subject in any manner to anticipation, alienation, sale,
transfer, assignment,                pledge, encumbrance, or charge, and any attempt to
anticipate, alienate, sell,                transfer, assign, pledge, encumber, or charge
the same shall be void; and no                such benefit shall in any manner be liable
for, or subject to, the debts,                contracts, liabilities, engagements, or
torts of any such person, nor shall it                be subject to attachment or legal
process for or against such person, and the                same shall not be recognized
by the Trustee, except to such extent as may be                required by law.  







	 	        (b)                      Subsection
(a) shall not apply to the extent a Participant or Beneficiary is                indebted
to the Plan, by reason of a loan made pursuant to Section 7.4. At                the
time a distribution is to be made to or for a Participant’s or
               Beneficiary’s benefit, such proportion of the amount to be
distributed as                shall equal such indebtedness shall be paid to the Plan, to
apply against or                discharge such indebtedness. Prior to making a payment,
however, the Participant                or Beneficiary must be given written notice by
the Administrator that such                indebtedness is to be so paid in whole or part
from the Participant’s                Combined Account. If the Participant or
Beneficiary does not agree that the                indebtedness is a valid claim against
the Vested Participant’s Combined                Account, the Participant or
Beneficiary shall be entitled to a review of the                validity of the claim in
accordance with procedures provided in Sections 2.7 and                2.8.  







	 	        (c)                      Subsection
(a) shall not apply to a “qualified domestic relations                order” defined
in Code Section 414(p), and those other domestic                relations orders
permitted to be so treated by the Administrator under the                provisions of
the Retirement Equity Act of 1984. The Administrator shall                establish a
written procedure to determine the qualified status of domestic                relations
orders and to administer distributions under such qualified orders.
               Further, to the extent provided under a “qualified domestic relations
               order,” a former spouse of a Participant shall be treated as the
spouse or                surviving spouse for all purposes under the Plan.  







	 	        (d)                      Subsection
(a) shall not apply to an offset to a Participant’s accrued                benefit
against an amount that the Participant is ordered or required to pay the
               Plan with respect to a judgment, order, or decree issued, or a settlement
               entered into, on or after August 5, 1997, in accordance with Code
Sections                401(a)(13)(C) and (D).  







	10.3  	CONSTRUCTION
OF PLAN  






        This
Plan and Trust shall be construed and enforced according to the Code, the Act and the laws
of the State of New York, other than its laws respecting choice of law, to the extent not
pre-empted by the Act. 



	10.4  	GENDER
AND NUMBER  






        Wherever
any words are used herein in the masculine, feminine or neuter gender, they shall be
construed as though they were also used in another gender in all cases where they would so
apply, and whenever any words are used herein in the singular or plural form, they shall
be construed as though they were also used in the other form in all cases where they would
so apply. 



61 

















	10.5  	LEGAL
ACTION  






        In
the event any claim, suit, or proceeding is brought regarding the Trust and/or Plan
established hereunder to which the Trustee, the Employer or the Administrator may be a
party, and such claim, suit, or proceeding is resolved in favor of the Trustee, the
Employer or the Administrator, they shall be entitled to be reimbursed from the Trust Fund
for any and all costs, attorney’s fees, and other expenses pertaining thereto
incurred by them for which they shall have become liable. 



	10.6  	PROHIBITION
AGAINST DIVERSION OF FUNDS  






	 	        (a)                      Except
as provided below and otherwise specifically permitted by law, it shall                be
impossible by operation of the Plan or of the Trust, by termination of
               either, by power of revocation or amendment, by the happening of any
               contingency, by collateral arrangement or by any other means, for any part
of                the corpus or income of any Trust Fund maintained pursuant to the Plan
or any                funds contributed thereto to be used for, or diverted to, purposes
other than                the exclusive benefit of Participants, Former Participants, or
their                Beneficiaries.  







	 	        (b)                      In
the event the Employer shall make an excessive contribution under a mistake
               of fact pursuant to Act Section 403(c)(2)(A), the Employer may demand
repayment                of such excessive contribution at any time within one (1) year
following the                time of payment and the Trustees shall return such amount to
the Employer within                the one (1) year period. Earnings of the Plan
attributable to the contributions                may not be returned to the Employer but
any losses attributable thereto must                reduce the amount so returned.  







	 	        (c)                      Except
for Sections 3.5, 3.6, and 4.1(c), any contribution by the Employer to                the
Trust Fund is conditioned upon the deductibility of the contribution by the
               Employer under the Code and, to the extent any such deduction is
disallowed, the                Employer may, within one (1) year following the final
determination of the                disallowance, whether by agreement with the Internal
Revenue Service or by final                decision of a competent jurisdiction, demand
repayment of such disallowed                contribution and the Trustee shall return
such contribution within one (1) year                following the disallowance. Earnings
of the Plan attributable to the                contribution may not be returned to the
Employer, but any losses attributable                thereto must reduce the amount so
returned.  







	10.7  	EMPLOYER’S
AND TRUSTEE’S PROTECTIVE CLAUSE  






        The
Employer, Administrator and Trustee, and their successors, shall not be responsible for
the validity of any Contract issued hereunder or for the failure on the part of the
insurer to make payments provided by any such Contract, or for the action of any person
which may delay payment or render a Contract null and void or unenforceable in whole or in
part. 



	10.8  	INSURER’S
PROTECTIVE CLAUSE  






        Except
as otherwise agreed upon in writing between the Employer and the insurer, an insurer which
issues any Contracts hereunder shall not have any responsibility for the validity of this
Plan or for the tax or legal aspects of this Plan. The insurer shall be protected and held
harmless in acting in accordance with any written direction of the Trustee, and shall have
no duty to see to the application of any funds paid to the Trustee, nor be required to
question any actions directed by the Trustee. Regardless of any provision of this Plan,
the insurer shall not be required to take or permit any action or allow any benefit or
privilege contrary to the terms of any Contract which it issues hereunder, or the rules of
the insurer. 



	10.9  	RECEIPT
AND RELEASE FOR PAYMENTS  






        Any
payment to any Participant, the Participant’s legal representative, Beneficiary, or
to any guardian or committee appointed for such Participant or Beneficiary in accordance
with the provisions of the Plan, shall, to the extent thereof, be in full satisfaction of
all claims hereunder against the Trustee and the Employer, either of whom may require such
Participant, legal representative, Beneficiary, guardian or committee, as a condition
precedent to such payment, to execute a receipt and release thereof in such form as shall
be determined by the Trustee or Employer. 







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	10.10  	ACTION
BY THE EMPLOYER  






        Whenever
the Employer under the terms of the Plan is permitted or required to do or perform any act
or matter or thing, it shall be done and performed by a person duly authorized by its
legally constituted authority. 



	10.11  	NAMED
FIDUCIARIES AND ALLOCATION OF RESPONSIBILITY  






        The
“named Fiduciaries” of this Plan are (1) the Employer, (2) the
Administrator, (3) the Trustee and (4) any Investment Manager appointed
hereunder. The named Fiduciaries shall have only those specific powers, duties,
responsibilities, and obligations as are specifically given them under the Plan including,
but not limited to, any agreement allocating or delegating their responsibilities, the
terms of which are incorporated herein by reference. In general, the Employer shall have
the sole responsibility for making the contributions provided for under Section 4.1; and
shall have the authority to appoint and remove the Trustee and the Administrator; to
formulate the Plan’s “funding policy and method”; and to amend or
terminate, in whole or in part, the Plan. The Administrator shall have the sole
responsibility for the administration of the Plan, including, but not limited to, the
items specified in Article II of the Plan, as the same may be allocated or delegated
thereunder. The Administrator shall act as the named Fiduciary responsible for
communicating with the Participant according to the Participant Direction Procedures. The
Trustee shall have the sole responsibility of management of the assets held under the
Trust, except to the extent directed pursuant to Article II or with respect to those
assets, the management of which has been assigned to an Investment Manager, who shall be
solely responsible for the management of the assets assigned to it, all as specifically
provided in the Plan. Each named Fiduciary warrants that any directions given, information
furnished, or action taken by it shall be in accordance with the provisions of the Plan,
authorizing or providing for such direction, information or action. Furthermore, each
named Fiduciary may rely upon any such direction, information or action of another named
Fiduciary as being proper under the Plan, and is not required under the Plan to inquire
into the propriety of any such direction, information or action. It is intended under the
Plan that each named Fiduciary shall be responsible for the proper exercise of its own
powers, duties, responsibilities and obligations under the Plan as specified or allocated
herein. No named Fiduciary shall guarantee the Trust Fund in any manner against investment
loss or depreciation in asset value. Any person or group may serve in more than one
Fiduciary capacity. 



	10.12  	HEADINGS  






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



	10.13  	APPROVAL
BY INTERNAL REVENUE SERVICE  






        Notwithstanding
anything herein to the contrary, if, pursuant to an application for qualification filed by
or on behalf of the Plan by the time prescribed by law for filing the Employer’s
return for the taxable year in which the Plan is adopted, or such later date that the
Secretary of the Treasury may prescribe, the Commissioner of Internal Revenue Service or
the Commissioner’s delegate should determine that the Plan does not initially qualify
as a tax-exempt plan under Code Sections 401 and 501, and such determination is not
contested, or if contested, is finally upheld, then if the Plan is a new plan, it shall be
void ab initio and all amounts contributed to the Plan by the Employer, less expenses
paid, shall be returned within one (1) year and the Plan shall terminate, and the Trustee
shall be discharged from all further obligations. If the disqualification relates to an
amended plan, then the Plan shall operate as if it had not been amended. 



	10.14  	UNIFORMITY  






        All
provisions of this Plan shall be interpreted and applied in a uniform, nondiscriminatory
manner. In the event of any conflict between the terms of this Plan and any Contract
purchased hereunder, the Plan provisions shall control. 





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	10.15  	RE-EMPLOYED
VETERANS FORMERLY EMPLOYED BY SCHENECTADY FEDERAL SAVINGS BANK 






        Notwithstanding
anything to the contrary set forth in the Plan, solely with respect to a Participant who
was a participant in the Former Schenectady Federal Savings Bank 401(k) Plan on September
2, 1999 and who became a Participant in the Plan on September 3, 1999, if any such
Employee has been rehired by the Employer and is eligible for the benefits provided by the
Uniformed Services Employment and Reemployment Rights Act by virtue of his prior military
service and by virtue of his having met all the requirements of that Act for being
accorded the benefits provided thereunder, he shall not be deemed to have incurred a One
Year Period of Severance because of his period of military service. Such Employee’s
military service shall be treated as a Period of Service hereunder for eligibility,
vesting and benefit accrual purposes. Such Employee shall be entitled to make Before-Tax
Contributions in an amount not exceeding the maximum amount such Employee would have been
permitted to contribute during the period of military service if such Employee had
actually been employed by the Employer or by the Former Schenectady Federal Saving Bank
during that period, such elective contributions to be known as “Make-up
Contributions.” Such Employee shall be entitled to all Employer contributions to
which he otherwise would have been entitled had he been employed by the Employer or by the
Former Schenectady Federal Savings Bank during the period of his military service. Such
Employee shall be entitled to Matching Contributions that would have been made on his
behalf by virtue of such Before-Tax Contributions that constitute Make-up Contributions,
but only to the extent that he actually makes such Make-up Contributions. Make-up
contributions shall be permitted during the period that begins on the date of reemployment
and shall continue for five (5) years, of if less, three times the period of military
service. The Employer shall be required to make Matching Contributions only to the extent
that Matching Contributions were in fact made on behalf of other Participants during such
period of issue. In computing contributions amounts dependent upon or limited by the
amount of Compensation such Employee earned or would have earned, such Employee shall be
treated as receiving Compensation from the Employer during the period of military service
equal to the Compensation such Employee otherwise would have received from the Employer or
from the Former Schenectady Federal Savings Bank during that period, or, if the
Compensation such Employee otherwise would have received is not reasonably certain, such
Employee’s average compensation from the Employer or from the Former Schenectady
Federal Savings Bank during the period immediately preceding the period of military
service. Such Employee shall not, however, be credited with any earning on any such
additional Employer or Employee contributions described in this Section before the
contribution is actually made. Furthermore, no forfeitures shall be allocated to such
Employee’s Accounts hereunder for the period of military service. The rules governing
the limitations on all such contributions that may be required hereunder, both by the
Employer and the Employee, shall be governed by Section 414(u) of the Code and any
regulations promulgated thereunder. 






64 

















ARTICLE XI 
PARTICIPATING EMPLOYERS 



	11.1  	ADOPTION
BY OTHER EMPLOYERS  






        Notwithstanding
anything herein to the contrary, with the consent of the Employer and Trustee, any other
corporation or entity, whether an affiliate or subsidiary or not, may adopt this Plan and
all of the provisions hereof, and participate herein and be known as a Participating
Employer, by a properly executed document evidencing said intent and will of such
Participating Employer. 



	11.2  	REQUIREMENTS
OF PARTICIPATING EMPLOYERS  






	 	        (a)                      Each
such Participating Employer shall be required to use the same Trustee as
               provided in this Plan.  







	 	        (b)                      The
Trustee may, but shall not be required to, commingle, hold and invest as one
               Trust Fund all contributions made by Participating Employers, as well as
all                increments thereof.  







	 	        (c)                      Any
expenses of the Plan which are to be paid by the Employer or borne by the
               Trust Fund shall be paid by each Participating Employer in the same
proportion                that the total amount standing to the credit of all
Participants employed by                such Employer bears to the total standing to the
credit of all Participants.  







	11.3  	DESIGNATION
OF AGENT  






        Each
Participating Employer shall be deemed to be a party to this Plan; provided, however, that
with respect to all of its relations with the Trustee and Administrator for the purpose of
this Plan, each Participating Employer shall be deemed to have designated irrevocably the
Employer as its agent. Unless the context of the Plan clearly indicates the contrary, the
word “Employer” shall be deemed to include each Participating Employer as
related to its adoption of the Plan. 



	11.4  	EMPLOYEE
TRANSFERS  






        In
the event an Employee is transferred between Participating Employers, accumulated service
and eligibility shall be carried with the Employee involved. No such transfer shall effect
a termination of employment hereunder, and the Participating Employer to which the
Employee is transferred shall thereupon become obligated hereunder with respect to such
Employee in the same manner as was the Participating Employer from whom the Employee was
transferred. 



	11.5  	PARTICIPATING
EMPLOYER CONTRIBUTION AND FORFEITURES  






        Any
contribution or Forfeiture subject to allocation during each Plan Year shall be determined
and allocated separately by each Participating Employer, and shall be allocated only among
the Participants eligible to share of the Employer or Participating Employer making the
contribution or by which the forfeiting Participant was employed. On the basis of the
information furnished by the Administrator, the Trustee shall keep separate books and
records concerning the affairs of each Participating Employer hereunder and as to the
accounts and credits of the Employees of each Participating Employer. The Trustee may, but
need not, register Contracts so as to evidence that a particular Participating Employer is
the interested Employer hereunder, but in the event of an Employee transfer from one
Participating Employer to another, the employing Employer shall immediately notify the
Trustee thereof. 



	11.6  	AMENDMENT  






        Amendment
of this Plan by the Employer at any time when there shall be a Participating Employer
hereunder shall only be by the written action of each and every Participating Employer and
with the consent of the Trustee where such consent is necessary in accordance with the
terms of this Plan. 



	11.7  	DISCONTINUANCE
OF PARTICIPATION  






        Any
Participating Employer shall be permitted to discontinue or revoke its participation in
the Plan at any time. At the time of any such discontinuance or revocation, satisfactory
evidence thereof and of any applicable conditions imposed shall be delivered to the
Trustee. The Trustee shall thereafter transfer, deliver and assign Contracts and other
Trust Fund assets allocable to the Participants of such Participating Employer to such new
trustee as shall have been designated by such Participating Employer, in the event that it
has established a separate qualified retirement plan for its employees provided, however,
that no such transfer shall be made if the result is the elimination or reduction of any
“Section 411(d)(6) protected benefits” as described in Section 8.1(c). If no
successor is designated, the Trustee shall retain such assets for the Employees of said
Participating Employer pursuant to the provisions of Article VII hereof. In no such event
shall any part of the corpus or income of the Trust Fund as it relates to such
Participating Employer be used for or diverted for purposes other than for the exclusive
benefit of the Employees of such Participating Employer. 







65 

















	11.8  	ADMINISTRATOR’S
AUTHORITY  






        The
Administrator shall have authority to make any and all necessary rules or regulations,
binding upon all Participating Employers and all Participants, to effectuate the purpose
of this Article. 











66 
















        IN
WITNESS WHEREOF, this Plan has been executed the day and year first above written. 

















		Hudson River Bank & Trust Company





By ______________________________

       EMPLOYER



Hudson River Bank & Trust Company



By ______________________________

       TRUSTEE





ATTEST _________________________












67