# EDGAR Filing Document

**Accession Number:** 0000918646
**File Stem:** 0001193125-26-029491
**Filing Date:** 2026-1
**Character Count:** 510246
**Document Hash:** 2c2f48f1680abb7e87b098928406eb33
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-26-029491.hdr.sgml**: 20260129

**ACCESSION NUMBER**: 0001193125-26-029491

**CONFORMED SUBMISSION TYPE**: 10-Q

**PUBLIC DOCUMENT COUNT**: 88

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260129

**DATE AS OF CHANGE**: 20260129

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** EAGLE MATERIALS INC
- **CENTRAL INDEX KEY:** 0000918646
- **STANDARD INDUSTRIAL CLASSIFICATION:** CEMENT, HYDRAULIC [3241]
- **ORGANIZATION NAME:** 04 Manufacturing
- **EIN:** 752520779
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0331

**FILING VALUES:**
- **FORM TYPE:** 10-Q
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-12984
- **FILM NUMBER:** 26578651

**BUSINESS ADDRESS:**
- **STREET 1:** 5960 BERKSHIRE LANE
- **STREET 2:** SUITE 900
- **CITY:** DALLAS
- **STATE:** TX
- **ZIP:** 75225
- **BUSINESS PHONE:** 214-432-2000

**MAIL ADDRESS:**
- **STREET 1:** 5960 BERKSHIRE LANE
- **STREET 2:** SUITE 900
- **CITY:** DALLAS
- **STATE:** TX
- **ZIP:** 75225

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** CENTEX CONSTRUCTION PRODUCTS INC
- **DATE OF NAME CHANGE:** 19940204

?xml version='1.0' encoding='ASCII'? 10-Q

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**UNITED STATES SECURITIES AND EXCHANGE COMMISSION** 

**Washington, D.C. 20549** 

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**FORM** 10-Q

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**QUARTERLY REPORT** 

**Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934** 

**For the Quarterly Period Ended** 

**December 31,** 2025

**Commission File Number** 1-12984

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![img7267427_0.jpg](img7267427_0.jpg)

EAGLE MATERIALS INC.

(Exact name of registrant as specified in its charter)

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Delaware (State of Incorporation)

75-2520779 (I.R.S. Employer Identification No.)

5960 Berkshire Lane**,** Suite 900**,** Dallas**,** Texas 75225 (Address of principal executive offices)

**(**214**)** 432-2000 (Registrant's telephone number, including area code)

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Securities registered pursuant to Section 12(b) of the Act:

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| | | |
|:---|:---|:---|
| **Title of each class** | **Trading**<br>**Symbol(s)** | **Name of each exchange on which registered** |
| Common Stock (par value $.01 per share) | EXP | New York Stock Exchange |
| Common Stock (par value $.01 per share) | EXP | NYSE Texas, Inc. |

---

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging growth company. See the definitions of "large accelerated filer," "accelerated filer," "smaller reporting company," and "emerging growth company" in Rule 12b-2 of the Exchange Act.

---

| | | | |
|:---|:---|:---|:---|
| Large accelerated filer | ☒ | Accelerated filer | ☐ |
| Non-accelerated filer | ☐ | Smaller reporting company | ☐ |
| Emerging growth company | ☐ |  |  |

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If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).

Yes ☐ No ☒

As of January 26, 2026, the number of outstanding shares of common stock was:

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| | |
|:---|:---|
| **Class** | **Outstanding Shares** |
| Common Stock, $.01 Par Value | 31432138 |

---

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**<u>**TABLE OF CONTENTS**</u>**

**<u>PART I. FINANCIAL INFORMATION (UNAUDITED)</u>**

---

| | | |
|:---|:---|:---|
|  |  | Page |
| **Item 1.** | Consolidated Financial Statements |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;[Consolidated Statements of Earnings for the Three and Nine Months Ended December 31, 2025](#consolidated_statement_of_earnings) and 2024 | 1 |
|  | &nbsp;&nbsp;&nbsp;[Consolidated Statements of Comprehensive Earnings for the](#cons_stmt_comprehensive_income)[Three and Nine Months Ended December 31, 2025](#consolidated_statement_of_earnings)and 2024 | 2 |
|  | [Consolidated Balance Sheets as of December 31, 2025, and March 31, 2025](#cons_balance_sheet) | 3 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;[Consolidated Statements of Cash Flows for the](#cons_stmt_cash_flows)[Nine Months Ended December 31, 2025](#consolidated_statement_of_earnings) and 2024 | 4 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;[Consolidated Statements of Stockholders' Equity for the Three and Nine Months Ended December 31, 2025 and 20](#cons_stmt_stockholders_equity)24 | 5 |
|  | [Notes to Unaudited Consolidated Financial Statements](#notes_to_consolidated_financial_statemen) | 7 |
| **Item 2.** | [Management's Discussion and Analysis of Financial Condition and Results of Operations](#item_7_managements_discussion_and) | 29 |
| **Item 3.** | [Quantitative and Qualitative Disclosures About Market Risk](#quantitative_and_qualitative_disclosures) | 46 |
| **Item 4.** | [Controls and Procedures](#controls_and_procedures) | 46 |
| **PART II. OTHER INFORMATION** | **PART II. OTHER INFORMATION** | **PART II. OTHER INFORMATION** |
| **Item 1.** | [Legal Proceedings](#legal_proceedings) | 47 |
| **Item 1a.** | [Risk Factors](#risk_factors) | 47 |
| **Item 2.** | [Unregistered Sales of Equity](#unregistered_sales_of_equity_securities) Securities and Use of Proceeds | 47 |
| **Item 4.** | [Mine Safety Disclosures](#mine_safety_disclosures) | 47 |
| **Item 5.** | [Other Information](#other_information) | 47 |
| **Item 6.** | [Exhibits](#exhibits) | 48 |
| **SIGNATURES** | **SIGNATURES** | 49 |

---

------

**PART I. FINANCIAL INFORMATION (UNAUDITED)**

**ITEM 1. Consolidated Financial Statements**

**EAGLE MATERIALS INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF EARNINGS (unaudited)**

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **For the Three Months Ended<br>December 31,** | **For the Three Months Ended<br>December 31,** | **For the Three Months Ended<br>December 31,** | **For the Three Months Ended<br>December 31,** | **For the Nine Months Ended<br>December 31,** | **For the Nine Months Ended<br>December 31,** | **For the Nine Months Ended<br>December 31,** | **For the Nine Months Ended<br>December 31,** |
|  | **2025** | **2025** | **2024** | **2024** | **2025** | **2025** | **2024** | **2024** |
|  | (dollars in thousands, except share and per share data) | (dollars in thousands, except share and per share data) | (dollars in thousands, except share and per share data) | (dollars in thousands, except share and per share data) | (dollars in thousands, except share and per share data) | (dollars in thousands, except share and per share data) | (dollars in thousands, except share and per share data) | (dollars in thousands, except share and per share data) |
| &nbsp;&nbsp;&nbsp;&nbsp;**Revenue** | $— | 555956 | $— | 558025 | $— | 1829552 | $— | 1790333 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Cost of Goods Sold** |  | 395050 |  | 380212 |  | 1283335 |  | 1221808 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Gross Profit** |  | 160906 |  | 177813 |  | 546217 |  | 568525 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Equity in Earnings of<br> Unconsolidated Joint<br> Venture** |  | 4420 |  | 4987 |  | 14533 |  | 21979 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Corporate General and<br> Administrative Expense** |  | (24010) |  | (20818) |  | (66109) |  | (54346) |
| &nbsp;&nbsp;&nbsp;&nbsp;**Other Non-Operating<br> Income** |  | 1644 |  | 1381 |  | 3729 |  | 4788 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Interest Expense, net** |  | (13712) |  | (9061) |  | (34790) |  | (30459) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Earnings Before Income<br> Taxes** |  | 129248 |  | 154302 |  | 463580 |  | 510487 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Income Taxes** |  | (26345) |  | (34728) |  | (99932) |  | (113551) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Net Earnings** | $— | **102903** | $— | **119574** | $— | **363648** | $— | **396936** |
| **EARNINGS PER SHARE** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;**Basic** | $— | 3.23 | $— | 3.59 | $— | 11.28 | $— | 11.85 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Diluted** |  | 3.22 |  | 3.56 |  | 11.21 |  | 11.75 |
| **WEIGHTED-AVERAGE<br> SHARES OUTSTANDING** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;**Basic** |  | 31824706 |  | 33317168 |  | 32247333 |  | 33493382 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Diluted** |  | 32005925 |  | 33608538 |  | 32429251 |  | 33771660 |
| **CASH DIVIDENDS PER<br> SHARE** | $— | **0.25** | $— | **0.25** | $— | **0.75** | $— | **0.75** |

---

*See Notes to Unaudited Consolidated Financial Statements.* 

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**EAGLE MATERIALS INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF COMPREHENSIVE EARNINGS (unaudited)**

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **For the Three Months Ended<br>December 31,** | **For the Three Months Ended<br>December 31,** | **For the Three Months Ended<br>December 31,** | **For the Three Months Ended<br>December 31,** | **For the Nine Months Ended<br>December 31,** | **For the Nine Months Ended<br>December 31,** | **For the Nine Months Ended<br>December 31,** | **For the Nine Months Ended<br>December 31,** |
|  | **2025** | **2025** | **2024** | **2024** | **2025** | **2025** | **2024** | **2024** |
|  | (dollars in thousands) | (dollars in thousands) | (dollars in thousands) | (dollars in thousands) | (dollars in thousands) | (dollars in thousands) | (dollars in thousands) | (dollars in thousands) |
| **Net Earnings** | $— | 102903 | $— | 119574 | $— | 363648 | $— | 396936 |
| **Net Actuarial Change in Defined<br> Benefit Plans:** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;**Amortization of Net Actuarial<br> Loss** |  | 53 |  | 60 |  | 159 |  | 180 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Tax Expense** |  | (12) |  | (15) |  | (36) |  | (45) |
| **Comprehensive Earnings** | $— | 102944 | $— | 119619 | $— | 363771 | $— | 397071 |

---

*See Notes to Unaudited Consolidated Financial Statements.*

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**EAGLE MATERIALS INC. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS (unaudited)**

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **December 31,** | **December 31,** | **March 31,** | **March 31,** |
|  | **2025** | **2025** | **2025** | **2025** |
|  | (dollars in thousands) | (dollars in thousands) | (dollars in thousands) | (dollars in thousands) |
| **ASSETS** |  |  |  |  |
| **Current Assets** |  |  |  |  |
| &nbsp;&nbsp;**Cash and Cash Equivalents** | $— | 418999 | $— | 20401 |
| &nbsp;&nbsp;**Accounts Receivable, net** |  | 208511 |  | 212332 |
| &nbsp;&nbsp;**Inventories** |  | 384879 |  | 415175 |
| &nbsp;&nbsp;**Income Tax Receivable** |  | 8123 |  | 10020 |
| &nbsp;&nbsp;**Prepaid and Other Assets** |  | 11603 |  | 10729 |
| **Total Current Assets** |  | 1032115 |  | 668657 |
| **Property, Plant, and Equipment, net** |  | 1984828 |  | 1792982 |
| **Investment in Joint Venture** |  | 154622 |  | 140089 |
| **Operating Lease Right-of-Use Assets** |  | 30108 |  | 29313 |
| **Goodwill and Intangible Assets, net** |  | 588019 |  | 595752 |
| **Other Assets** |  | 53743 |  | 37795 |
| **Total Assets** | $— | **3843435** | $— | **3264588** |
| **LIABILITIES AND STOCKHOLDERS' EQUITY** |  |  |  |  |
| **Current Liabilities** |  |  |  |  |
| &nbsp;&nbsp;**Accounts Payable** | $— | 124241 | $— | 129895 |
| &nbsp;&nbsp;**Accrued Liabilities** |  | 96247 |  | 96077 |
| &nbsp;&nbsp;**Operating Lease Liabilities** |  | 4241 |  | 4032 |
| &nbsp;&nbsp;**Income Taxes Payable** |  | 1774 |  |  |
| &nbsp;&nbsp;**Current Portion of Long-Term Debt** |  | 15000 |  | 15000 |
| **Total Current Liabilities** |  | 241503 |  | 245004 |
| **Long-Term Debt** |  | 1748179 |  | 1223316 |
| **Noncurrent Operating Lease Liabilities** |  | 33392 |  | 33597 |
| **Other Long-Term Liabilities** |  | 65836 |  | 66029 |
| **Deferred Income Taxes** |  | 260900 |  | 239942 |
| **Total Liabilities** |  | 2349810 |  | 1807888 |
| **Stockholders' Equity** |  |  |  |  |
| &nbsp;&nbsp;**Preferred Stock, Par Value $0.01; Authorized 5,000,000 Shares; None Issued** |  |  |  |  |
| &nbsp;&nbsp;**Common Stock, Par Value $0.01; Authorized 100,000,000 Shares; Issued and Outstanding<br> 31,554,877 and 32,973,121 Shares, respectively** |  | 316 |  | 330 |
| &nbsp;&nbsp;**Capital in Excess of Par Value** |  |  |  |  |
| &nbsp;&nbsp;**Accumulated Other Comprehensive Losses** |  | (3002) |  | (3125) |
| &nbsp;&nbsp;**Retained Earnings** |  | 1496311 |  | 1459495 |
| **Total Stockholders' Equity** |  | 1493625 |  | 1456700 |
|  | $— | **3843435** | $— | **3264588** |

---

*See Notes to Unaudited Consolidated Financial Statements.*

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**EAGLE MATERIALS INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited)**

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **For the Nine Months Ended December 31,** | **For the Nine Months Ended December 31,** | **For the Nine Months Ended December 31,** | **For the Nine Months Ended December 31,** |
|  | **2025** | **2025** | **2024** | **2024** |
|  | (dollars in thousands) | (dollars in thousands) | (dollars in thousands) | (dollars in thousands) |
| **CASH FLOWS FROM OPERATING ACTIVITIES** |  |  |  |  |
| **Net Earnings** | $— | 363648 | $— | 396936 |
| **Adjustments to Reconcile Net Earnings to Net Cash Provided by Operating<br> Activities, Net of Effect of Non-Cash Activity:** |  |  |  |  |
| **Depreciation, Depletion, and Amortization** |  | 124243 |  | 116661 |
| **Deferred Income Tax Provision** |  | 20958 |  | 1457 |
| **Stock Compensation Expense** |  | 15804 |  | 14221 |
| **Equity in Earnings of Unconsolidated Joint Venture** |  | (14533) |  | (21979) |
| **Changes in Operating Assets and Liabilities:** |  |  |  |  |
| **Accounts Receivable** |  | 3821 |  | 20606 |
| **Inventories** |  | 30296 |  | (17277) |
| **Accounts Payable and Accrued Liabilities** |  | (9187) |  | (15175) |
| **Other Assets** |  | (24348) |  | (18041) |
| **Income Taxes Payable (Receivable)** |  | 1328 |  | 8371 |
| **Net Cash Provided by Operating Activities** |  | 512030 |  | 485780 |
| **CASH FLOWS FROM INVESTING ACTIVITIES** |  |  |  |  |
| **Additions to Property, Plant, and Equipment** |  | (294680) |  | (146975) |
| **Acquisition Spending** |  |  |  | (24881) |
| **Net Cash Used in Investing Activities** |  | (294680) |  | (171856) |
| **CASH FLOWS FROM FINANCING ACTIVITIES** |  |  |  |  |
| **Borrowings Under Revolving Credit Facility** |  | 145000 |  | 100000 |
| **Repayment of Borrowings Under Revolving Credit Facility** |  | (345000) |  | (185000) |
| **Repayment of Term Loan** |  | (11250) |  | (7500) |
| **Proceeds from Issuance of 5.000% Senior Unsecured Notes** |  | 741772 |  |  |
| **Payment of Debt Issuance Costs** |  | (6851) |  |  |
| **Dividends Paid to Stockholders** |  | (24477) |  | (25373) |
| **Purchase and Retirement of Common Stock** |  | (310282) |  | (201276) |
| **Payment of Excise Tax on Purchases and Retirement of Common Stock** |  | (2587) |  | (3331) |
| **Proceeds from Stock Option Exercises** |  | 535 |  | 6260 |
| **Shares Redeemed to Settle Employee Taxes on Stock Compensation** |  | (5612) |  | (1456) |
| **Net Cash Provided by (Used in) Financing Activities** |  | 181248 |  | (317676) |
| **NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS** |  | 398598 |  | (3752) |
| **CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD** |  | 20401 |  | 34925 |
| **CASH AND CASH EQUIVALENTS AT END OF PERIOD** | $— | **418999** | $— | **31173** |

---

*See Notes to Unaudited Consolidated Financial Statements.*

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**EAGLE MATERIALS INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (unaudited)**

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Common<br>Stock** | **Common<br>Stock** | **Capital in<br>Excess of<br>Par Value** | **Retained<br>Earnings** | **Accumulated<br>Other<br>Comprehensive<br>Losses** | **Total** |
|  | (dollars in thousands) | (dollars in thousands) | (dollars in thousands) | (dollars in thousands) | (dollars in thousands) | (dollars in thousands) |
| **Balance at March 31, 2024** | $— | **341** | $**—** | $**1311567** | $**(3373)** | $**1308535** |
| **Net Earnings** |  |  |  | 133842 |  | 133842 |
| **Stock Option Exercises and Restricted Share<br> Vesting** |  |  | 56 |  |  | 56 |
| **Stock Compensation Expense** |  |  | 4539 |  |  | 4539 |
| **Shares Redeemed to Settle Employee Taxes** |  |  | (1421) |  |  | (1421) |
| **Purchase and Retirement of Common Stock** |  | (3) | (3174) | (83168) |  | (86345) |
| **Dividends to Stockholders** |  |  |  | (8453) |  | (8453) |
| **Unfunded Pension Liability, net of tax** |  |  |  |  | 45 | 45 |
| **Balance at June 30, 2024** | $— | **338** | $**—** | $**1353788** | $**(3328)** | $**1350798** |
| **Net Earnings** |  |  |  | 143520 |  | 143520 |
| **Stock Option Exercises and Restricted Share<br> Vesting** |  |  | 2149 |  |  | 2149 |
| **Stock Compensation Expense** |  |  | 4864 |  |  | 4864 |
| **Shares Redeemed to Settle Employee Taxes** |  |  | (35) |  |  | (35) |
| **Purchase and Retirement of Common Stock** |  | (3) | (6978) | (54312) |  | (61293) |
| **Dividends to Stockholders** |  |  |  | (8399) |  | (8399) |
| **Unfunded Pension Liability, net of tax** |  |  |  |  | 45 | 45 |
| **Balance at September 30, 2024** | $— | **335** | $**—** | $**1434597** | $**(3283)** | $**1431649** |
| **Net Earnings** |  |  |  | 119574 |  | 119574 |
| **Stock Option Exercises and Restricted Share<br> Vesting** |  | 1 | 4054 |  |  | 4055 |
| **Stock Compensation Expense** |  |  | 4818 |  |  | 4818 |
| **Purchase and Retirement of Common Stock** |  | (2) | (8872) | (46777) |  | (55651) |
| **Dividends to Stockholders** |  |  |  | (8351) |  | (8351) |
| **Unfunded Pension Liability, net of tax** |  |  |  |  | 45 | 45 |
| **Balance at December 31, 2024** | $— | **334** | $**—** | $**1499043** | $**(3238)** | $**1496139** |

---

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**EAGLE MATERIALS INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - CONTINUED (unaudited)**

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Common<br>Stock** | **Common<br>Stock** | **Capital in<br>Excess of<br>Par Value** | **Retained<br>Earnings** | **Accumulated<br>Other<br>Comprehensive<br>Losses** | **Total** |
|  | (dollars in thousands) | (dollars in thousands) | (dollars in thousands) | (dollars in thousands) | (dollars in thousands) | (dollars in thousands) |
| **Balance at March 31, 2025** | $— | **330** | $**—** | $**1459495** | $**(3125)** | $**1456700** |
| **Net Earnings** |  |  |  | 123362 |  | 123362 |
| **Stock Compensation Expense** |  |  | 4822 |  |  | 4822 |
| **Shares Redeemed to Settle Employee Taxes** |  | (1) | (4822) | (756) |  | (5579) |
| **Purchase and Retirement of Common Stock** |  | (3) |  | (79400) |  | (79403) |
| **Dividends to Stockholders** |  |  |  | (8169) |  | (8169) |
| **Unfunded Pension Liability, net of tax** |  |  |  |  | 41 | 41 |
| **Balance at June 30, 2025** | $— | **326** | $**—** | $**1494532** | $**(3084)** | $**1491774** |
| **Net Earnings** |  |  |  | 137383 |  | 137383 |
| **Stock Option Exercises and Restricted Share<br> Vesting** |  |  | 479 |  |  | 479 |
| **Stock Compensation Expense** |  |  | 5468 |  |  | 5468 |
| **Shares Redeemed to Settle Employee Taxes** |  |  | (5947) | 5914 |  | (33) |
| **Purchase and Retirement of Common Stock** |  | (4) |  | (89971) |  | (89975) |
| **Dividends to Stockholders** |  |  |  | (8079) |  | (8079) |
| **Unfunded Pension Liability, net of tax** |  |  |  |  | 41 | 41 |
| **Balance at September 30, 2025** | $— | **322** | $**—** | $**1539779** | $**(3043)** | $**1537058** |
| **Net Earnings** |  |  |  | 102903 |  | 102903 |
| **Stock Option Exercises and Restricted Share<br> Vesting** |  |  | 56 |  |  | 56 |
| **Stock Compensation Expense** |  |  | 5514 |  |  | 5514 |
| **Purchase and Retirement of Common Stock** |  | (6) | (5570) | (138440) |  | (144016) |
| **Dividends to Stockholders** |  |  |  | (7931) |  | (7931) |
| **Unfunded Pension Liability, net of tax** |  |  |  |  | 41 | 41 |
| **Balance at December 31, 2025** | $— | **316** | $**—** | $**1496311** | $**(3002)** | $**1493625** |

---

*See Notes to Unaudited Consolidated Financial Statements.* 

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**Eagle Materials Inc. and Subsidiaries Notes to Unaudited Consolidated Financial Statements**

(A) BASIS OF PRESENTATION

The accompanying Unaudited Consolidated Financial Statements as of and for the three and nine months ended December 31, 2025, include the accounts of Eagle Materials Inc. and its majority-owned subsidiaries (collectively, the Company, us, or we) and have been prepared by the Company, without audit, pursuant to the rules and regulations of the Securities and Exchange Commission. These Unaudited Consolidated Financial Statements should be read in conjunction with the Audited Consolidated Financial Statements and the notes thereto included in our Annual Report on Form 10-K for the fiscal year ended March 31, 2025, filed with the Securities and Exchange Commission on May 20, 2025.

Certain information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles have been condensed or omitted pursuant to such rules and regulations, although we believe that the disclosures are adequate to make the information presented not misleading. In our opinion, all adjustments (consisting solely of normal recurring adjustments) necessary to present fairly the information in the following Unaudited Consolidated Financial Statements of the Company have been included. The results of operations for interim periods are not necessarily indicative of the results for the full year.

The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosures of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates.

**<u>Recent Accounting Pronouncements</u>** 

**PENDING ADOPTION**

In December 2023, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update No. 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures (ASU 2023-09), which focuses on the rate reconciliation and income taxes paid. ASU 2023-09 requires public entities to disclose, on an annual basis, a tabular rate reconciliation using both percentages and currency amounts organized by specified categories with certain reconciling items broken out by nature and jurisdiction to the extent those items exceed a specified threshold. Additionally, all entities are required to disclose income taxes paid, net of refunds received, disaggregated by federal, state, local, and individual jurisdiction if the amount is at least 5% of the total income tax payments, net of refunds received. ASU 2023-09 is effective prospectively for annual periods beginning after December 15, 2024. Early adoption and retrospective application are permitted. ASU 2023-09 will not have any impact on the Company's results of operations, cash flows, and financial condition.

In November 2024, the FASB issued Accounting Standards Update No. 2024-03, Income Statement-Reporting Comprehensive Income-Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income and Expenses (ASU 2024-03). ASU 2024-03 requires public business entities to disclose additional information about certain key expense categories within major income statement captions in the Notes to the Consolidated Financial Statements. The new standard is effective for fiscal years beginning after December 15, 2026, and is to be applied prospectively. Early adoption is permitted. The Company is currently evaluating the impact of adopting this guidance on its Consolidated Financial Statements.

In July 2025, the FASB issued Accounting Standards Update No. 2025-05, Credit Losses (Topic 326) – Measurement of Credit Losses for Accounts Receivable and Contract Assets. The amendments provide all entities with a practical expedient to assume that the current conditions as of the balance sheet date will remain unchanged for the remaining life of the asset when developing a reasonable and supportable forecast as part of

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estimating expected credit losses on current accounts receivable and current contract assets arising from transactions accounted for under ASC 606, Revenue from Contracts with Customers. The new standard is effective for annual reporting periods beginning after December 15, 2025, and interim reporting periods within those annual reporting periods. Early adoption is permitted for both interim and annual financial statements that have not yet been issued or made available for issuance. Entities that use the practical expedient and, if applicable, make the accounting policy election are required to apply the amendments prospectively. The Company is currently evaluating the impact of adopting this guidance on its Consolidated Financial Statements.

In September 2025, the FASB issued Accounting Standards Update No. 2025-06, Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use Software (ASU 2025-06), to modernize the accounting for and disclosure of internal-use software costs. The guidance removes all references to project stages, defines the threshold to begin capitalizing costs, and clarifies the disclosure requirements of capitalized software costs. The new standard is effective for annual periods beginning after December 15, 2027, and interim periods within those fiscal years, and can be applied retrospectively, prospectively, or on a modified transition approach. Early adoption is permitted. The Company is currently evaluating the impact of adopting this guidance on its Consolidated Financial Statements.

(B) SUPPLEMENTAL CASH FLOW INFORMATION

Supplemental cash flow information is as follows:

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| | | |
|:---|:---|:---|
|  | **For the Nine Months Ended December 31,** | **For the Nine Months Ended December 31,** |
|  | **2025** | **2024** |
|  | (dollars in thousands) | (dollars in thousands) |
| **Cash Payments:** |  |  |
| &nbsp;&nbsp;**Interest** | $42180 | $37223 |
| &nbsp;&nbsp;**Income Taxes** | 77765 | 110683 |
| &nbsp;&nbsp;**Operating Cash Flows Used for Operating Leases** | 4438 | 6802 |
| **Noncash Financing Activities:** |  |  |
| &nbsp;&nbsp;**Right-of-Use Assets Obtained for Capitalized Operating Leases** | $3325 | $19588 |
| &nbsp;&nbsp;**Excise Tax on Share Repurchases** | 515 | 2013 |

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(C) ACQUISITION

On January 7, 2025, we purchased Bullskin Stone & Lime LLC, an aggregates business located in Western Pennsylvania (the Aggregate Acquisition) for approximately $149.9 million, which was accounted for under the acquisition method. The purchase price was funded through borrowings under our Revolving Credit Facility. Operations related to the Aggregate Acquisition are included in the Concrete and Aggregates segment of our segment reporting.

The following table summarizes the allocation of the purchase price to the fair value of assets acquired and liabilities assumed (based on Level 3 inputs of the fair value hierarchy) as of December 31, 2025.

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| | | |
|:---|:---|:---|
|  | **Fair Value** | **Fair Value** |
|  | (dollars in thousands) | (dollars in thousands) |
| **Accounts Receivable** | $— | 1443 |
| **Inventories** |  | 3354 |
| **Prepaid and Other Current Assets** |  | 229 |
| **Property, Plant, and Equipment** |  | 35097 |
| **Intangible Assets** |  | 38600 |
| **Accounts Payable and Accrued Liabilities** |  | (327) |
| **Other Long-Term Liabilities** |  | (792) |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total Net Assets Acquired** |  | 77604 |
| **Goodwill** |  | 72343 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total Purchase Price** | $— | **149947** |

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The estimated useful lives assigned to Property, Plant, and Equipment range from 5 to 30 years. Goodwill represents the excess purchase price over the fair value of the assets acquired and the liabilities assumed. The Goodwill was generated by the availability of co-product sales and the opportunity associated with the expansion of our Aggregates business to the Western Pennsylvania region of the United States. All Goodwill generated from the Acquisition is deductible for income tax purposes.

The following table is a summary of the fair value estimates of the identifiable intangible assets and their weighted-average useful lives:

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| | | |
|:---|:---|:---|
|  | **Weighted-Average Life**<br> (in years) | **Fair Value**<br> (dollars in thousands) |
| **Customer Relationships** | 15 | $38100 |
| **Trade Name and Technology** | 5 | 500 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total Intangible Assets** |  | $**38600** |

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The following table presents the Revenue and Operating Earnings related to the Acquisition that have been included in our Consolidated Statement of Earnings for the three and nine months ended December 31, 2025.

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| | | |
|:---|:---|:---|
|  | **For the Three Months<br>Ended<br>December 31, 2025** | **For the Nine Months<br>Ended<br>December 31, 2025** |
|  | (dollars in thousands) | (dollars in thousands) |
| **Revenue** | $7567 | $24371 |
| **Operating Earnings** | $1065 | $5438 |

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Included in Operating Earnings shown above is approximately $1.7 million and $5.1 million related to depreciation and amortization for the three and nine months ended December 31, 2025, respectively.

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(D) REVENUE

We earn Revenue primarily from the sale of products, which include cement, concrete, aggregates, gypsum wallboard, and recycled paperboard. The vast majority of Revenue from the sale of concrete, aggregates, and gypsum wallboard is originated by purchase orders from our customers, who are mostly third-party contractors and suppliers. Revenue from the sale of cement is recognized at the point-of-sale to customers under sales orders. Revenue from our Recycled Paperboard segment is generated mainly through long-term supply agreements. These agreements do not have a stated maturity date, but may be terminated by either party with a two to three-year notice period. We invoice customers upon shipment, and our collection terms range from 30 to 75 days. Revenue from the sale of cement, concrete, aggregates, and gypsum wallboard not related to long-term supply agreements is recognized upon shipment of the related products to customers, which is when title and ownership are transferred, and the customer is obligated to pay.

Revenue from sales under our long-term supply agreements is also recognized upon transfer of control to the customer, which generally occurs at the time the product is shipped from the production facility or terminal location. Our long-term supply agreements with customers define, among other commitments, the volume of product we must provide and the volume that the customer must purchase by the end of the defined periods. Pricing structures under our agreements are generally market-based, but are subject to certain contractual adjustments. Shortfall amounts, if applicable under these arrangements, are constrained and not recognized as Revenue until an agreement is reached with the customer and, therefore, are not subject to the risk of reversal.

The Company offers certain of its customers, including those with long-term supply agreements, rebates and incentives, which we treat as variable consideration. We adjust the amount of Revenue recognized for the variable consideration using the most likely amount method based on past history and projected volumes in the rebate and incentive period. Any amounts billed to customers for taxes are excluded from Revenue.

The Company has elected to treat freight and delivery charges we pay for the delivery of goods to our customers as a fulfillment activity rather than a separate performance obligation. When we arrange for a third party to deliver products to customers, fees for shipping and handling billed to the customer are recorded as Revenue, while costs we incur for shipping and handling are recorded as expenses and included in Cost of Goods Sold.

Other Non-Operating Income includes lease and rental income, asset sale income, non-inventoried aggregates sales income, distribution center income, and trucking income, as well as other miscellaneous revenue items and costs that have not been allocated to a business segment.

See Note (N) to the Unaudited Consolidated Financial Statements for disaggregation of Revenue by segment.

(E) ACCOUNTS RECEIVABLE

Accounts Receivable are shown net of the allowance for credit losses totaling $6.8 million and $6.7 million at December 31, 2025, and March 31, 2025, respectively. We perform ongoing credit evaluations of our customers' financial condition and generally require no collateral from our customers. The allowance for non-collection of receivables is based on analysis of economic trends in the construction industry, detailed analysis of the expected collectability of past due accounts receivable, and the expected collectability of overall receivables. We have no significant credit risk concentration among our diversified customer base.

(F) INVENTORIES

Inventories are stated at the lower of average cost (including applicable material, labor, depreciation, and plant overhead) or net realizable value. Raw Materials and Materials-in-Progress include clinker, which is an intermediary product before it is ground into cement powder. Quantities of Raw Materials and Materials-in-Progress, Aggregates, and Coal inventories, are based on measured volumes, subject to estimation based on the

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size and location of the inventory piles, and are converted to tonnage using standard inventory density factors. Inventories consist of the following:

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| | | |
|:---|:---|:---|
|  | **December 31,** | **March 31,** |
|  | **2025** | **2025** |
|  | (dollars in thousands) | (dollars in thousands) |
| **Raw Materials and Materials-in-Progress** | $140917 | $164683 |
| **Finished Cement** | 57604 | 67711 |
| **Aggregates** | 13839 | 17681 |
| **Gypsum Wallboard** | 5958 | 5708 |
| **Recycled Paperboard** | 12434 | 7814 |
| **Repair Parts and Supplies** | 135032 | 126983 |
| **Fuel and Coal** | 19095 | 24595 |
|  | $**384879** | $**415175** |

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(G) ACCRUED EXPENSES

Accrued Expenses consist of the following:

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| | | |
|:---|:---|:---|
|  | **December 31,** | **March 31,** |
|  | **2025** | **2025** |
|  | (dollars in thousands) | (dollars in thousands) |
| **Payroll and Incentive Compensation** | $37316 | $31918 |
| **Benefits** | 16647 | 16950 |
| **Interest** | 5852 | 7689 |
| **Dividends** | 8164 | 8463 |
| **Property Taxes** | 5485 | 5836 |
| **Power and Fuel** | 3239 | 4045 |
| **Freight** | 4952 | 3664 |
| **Excise Tax** | 4337 | 3822 |
| **Legal and Professional** | 4264 | 3953 |
| **Sales and Use Tax** | 1832 | 1500 |
| **Other** | 4159 | 8237 |
|  | $**96247** | $**96077** |

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(H) LEASES

We lease certain real estate, buildings, and equipment, including railcars and barges. Certain of these leases contain escalations of rent over the term of the lease, as well as options for us to extend the term of the lease at the end of the original term. These extensions range from periods of one year to 20 years. Our lease agreements do not contain material residual value guarantees or material restrictive covenants. In calculating the present value of future minimum lease payments, we use the rate implicit in the lease if it can be determined. Otherwise, we use our incremental borrowing rate in effect at the commencement of the lease to determine the present value of the future minimum lease payments. Additionally, we lease certain equipment under short-term leases with initial terms of less than 12 months; these short-term leases are not recorded on the balance sheet.

Lease expense for our operating and short-term leases is as follows:

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| | | | | |
|:---|:---|:---|:---|:---|
|  | **For the Three Months Ended<br>December 31,** | **For the Three Months Ended<br>December 31,** | **For the Nine Months Ended<br>December 31,** | **For the Nine Months Ended<br>December 31,** |
|  | **2025** | **2024** | **2025** | **2024** |
|  | (dollars in thousands) | (dollars in thousands) | (dollars in thousands) | (dollars in thousands) |
| **Operating Lease Cost** | $2253 | $1982 | $6712 | $5933 |
| **Short-Term Lease Cost** | 375 | 317 | 1516 | 962 |
| **Total Lease Cost** | $**2628** | $**2299** | $**8228** | $**6895** |

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The Right-of-Use Assets and Lease Liabilities are reflected on our Balance Sheet as follows:

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| | | |
|:---|:---|:---|
|  | **December 31,** | **March 31,** |
|  | **2025** | **2025** |
|  | (dollars in thousands) | (dollars in thousands) |
| **Operating Leases:** |  |  |
| **Operating Lease Right-of-Use Assets** | $**30108** | $**29313** |
| **Current Operating Lease Liabilities** | $4241 | $4032 |
| **Noncurrent Operating Lease Liabilities** | 33392 | 33597 |
| **Total Operating Lease Liabilities** | $**37633** | $**37629** |

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Future payments for operating leases are as follows:

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| | |
|:---|:---|
|  | **Amount** |
| **Fiscal Year** | (dollars in thousands) |
| **2026 (remaining three months)** | $1420 |
| **2027** | 5227 |
| **2028** | 4467 |
| **2029** | 4044 |
| **2030** | 4130 |
| **Thereafter** | 30037 |
| **Total Lease Payments** | $49325 |
| **Less: Imputed Interest** | (11692) |
| **Present Value of Lease Liabilities** | $**37633** |
| **Weighted-Average Remaining Lease Term (in years)** | 11.8 |
| **Weighted-Average Discount Rate** | **4.43%** |

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(I) EQUITY AWARDS

On August 3, 2023, our stockholders approved the Eagle Materials Inc. 2023 Equity Incentive Plan (the 2023 Plan), which reserves 1,425,000 shares for future grants of stock awards. Under the terms of the 2023 Plan, we can issue equity awards, including stock options, restricted stock units, restricted stock, and stock appreciation rights to employees of the Company, members of the Board of Directors, and consultants, independent contractors, and agents of the Company. The Compensation Committee of our Board of Directors (Compensation Committee) specifies grant terms for awards under the Plan.

**<u>Fiscal 2026 Equity Awards</u>**

In May 2025, the Compensation Committee awarded to certain officers and key employees an aggregate of 29,273 performance stock units and 14,712 performance stock options, which represents achievement of the target level of performance (collectively, the Performance Stock Awards or PSAs). For the Performance Stock Awards to be earned, the Company must achieve performance vesting criteria as modified based on the Company's average absolute total stockholder return during the performance period. The performance vesting criteria are based upon certain levels of average annual return on equity (as defined in the Performance Stock Award Agreements) ranging from 10.0% to 20.0% measured at the end of fiscal 2028 (three-year performance period) as modified by total stockholder return. Performance outcomes (taking into account both criteria) will result in a threshold vesting percentage of 50% of target and maximum performance will result in a vesting percentage of 200% of target. If the threshold vesting percentage is not achieved none of the Performance Stock Awards will be earned.

Our Performance Stock Awards are evaluated on a quarterly basis with adjustments to compensation expense based on the likelihood of the performance targets being achieved or exceeded. The maximum expense for our

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outstanding Performance Stock Awards is approximately $17.4 million. Any forfeitures are recognized as a reduction to expense in the period in which they occur.

The fair value of the above Performance Stock Awards was determined using a Monte Carlo simulation. The following are key inputs in the Monte Carlo analysis for the Fiscal 2026 Employee Performance Stock Awards.

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| | |
|:---|:---|
|  | **Fiscal 2026** |
| **Measurement Period (in years)** | 2.86 |
| **Risk-Free Interest Rate** | 4.0% |
| **Dividend Yield** | 0.5% |
| **Volatility** | 31.3% |
| **Estimated Fair Value of Market-Based PSAs at Grant Date** | $213.66 |

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In addition to the Performance Stock Awards discussed above, the Compensation Committee approved the granting to certain officers and key employees an aggregate of 14,712 time-vesting stock options which vest ratably over three years (the Fiscal 2026 Employee Time-Vesting Stock Option Grant) and 29,273 shares of time-vesting restricted stock units, which vest ratably over three years (the Fiscal 2026 Employee Restricted Stock Unit Time-Vesting Award). The Fiscal 2026 Employee Restricted Stock Unit Time-Vesting Award was valued at the closing price of the stock on the grant date and is being expensed over a three-year period. The Fiscal 2026 Employee Time-Vesting Stock Option Grant was valued at the grant date using the Black-Scholes option pricing model, which used similar inputs as the Monte Carlo analysis shown above.

In August 2025, the Compensation Committee granted 9,735 shares of time-vesting restricted stock to members of the Board of Directors (the Fiscal 2026 Board of Directors Restricted Stock Award). Restricted stock granted under the Fiscal 2026 Board of Directors Restricted Stock Award vest one year after the grant date and were valued at the closing price of the stock on the grant date. The value of the Fiscal 2026 Board of Directors Restricted Stock Award is being expensed over a one-year period.

In addition to the stock awards described above, we may issue additional equity awards, including stock options, restricted stock, and restricted stock units, to certain employees from time to time. Any options issued are valued using the Black-Scholes options pricing model on the grant date and expensed over the vesting period, while restricted stock and restricted stock units are valued using the closing price on the grant date and expensed over the vesting period.

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**STOCK OPTIONS**

Stock option expense for all outstanding stock option awards totaled approximately $0.5 million and $1.3 million for the three and nine months ended December 31, 2025, respectively and $0.3 million and $0.9 million for the three and nine months ended December 31, 2024, respectively. At December 31, 2025, there was approximately $2.7 million of unrecognized compensation cost related to outstanding stock options, which is expected to be recognized over a weighted-average period of 2.0 years.

The following table represents stock option activity for the nine months ended December 31, 2025:

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| | | | |
|:---|:---|:---|:---|
|  | **Number<br>of Shares** | **Weighted-<br>Average<br>Exercise<br>Price** | **Weighted-<br>Average<br>Exercise<br>Price** |
| **Outstanding Options at March 31, 2025** | 184233 | $— | 95.75 |
| &nbsp;&nbsp;**Granted** | 29424 | $— | 213.66 |
| &nbsp;&nbsp;**Exercised** | (6936) | $— | 77.10 |
| &nbsp;&nbsp;**Cancelled** |  | $— |  |
| **Outstanding Options at December 31, 2025** | **206721** | $— | 113.16 |
| **Options Exercisable at December 31, 2025** | **159789** |  |  |
| **Weighted-Average Fair Value of Options Granted During the Year** |  | $— | 90.94 |

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The following table summarizes information about stock options outstanding at December 31, 2025:

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Options Outstanding** | **Options Outstanding** | **Options Outstanding** | **Options Exercisable** | **Options Exercisable** |
| **Range of Exercise Prices** | **Number of<br>Shares<br>Outstanding** | **Weighted-<br>Average<br>Remaining<br>Contractual<br>Life (in years)** | **Weighted-<br>Average<br>Exercise<br>Price** | **Number of<br>Shares<br>Outstanding** | **Weighted-<br>Average<br>Exercise<br>Price** |
| **$59.32 - $81.28** | 81124 | 4.09 | $61.80 | 81124 | $61.80 |
| **$91.21 - $100.88** | 32852 | 2.51 | $94.95 | 32852 | $94.95 |
| **$118.27 - $139.25** | 48931 | 6.36 | $126.59 | 36476 | $126.88 |
| **$143.09 - $261.76** | 43814 | 2.42 | $206.91 | 9337 | $182.32 |
|  | **206721** | 4.02 | $**113.16** | **159789** | $**90.51** |

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At December 31, 2025, the aggregate intrinsic value of the outstanding and exercisable options was approximately $19.5 million and $18.7 million, respectively. The total intrinsic value of options exercised during the nine months ended December 31, 2025, was approximately $1.0 million.

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**RESTRICTED STOCK UNITS AND RESTRICTED STOCK**

The following table summarizes the activity for restricted stock units and nonvested restricted stock during the nine months ended December 31, 2025:

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| | | | |
|:---|:---|:---|:---|
|  | **Number<br>of Shares** | **Weighted-<br>Average<br>Grant Date<br>Fair Value** | **Weighted-<br>Average<br>Grant Date<br>Fair Value** |
| **Restricted Stock Units and Nonvested Restricted Stock at March 31, 2025** | 194099 | $— | 150.56 |
| **Granted** | 70167 | $— | 215.28 |
| **Vested** | (73347) | $— | 107.09 |
| **Cancelled** |  | $— |  |
| **Restricted Stock Units and Nonvested Restricted Stock at December 31, 2025** | **190919** | $— | **123.94** |

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Expense related to restricted stock units and restricted stock was approximately $5.0 million and $14.5 million for the three and nine months ended December 31, 2025, respectively, and $4.5 million and $13.3 million for the three and nine months ended December 31, 2024, respectively. At December 31, 2025, there was approximately $22.8 million of unearned compensation from restricted stock units and nonvested restricted shares, which will be recognized over a weighted-average period of 1.3 years.

The number of shares available for future grants of stock options, restricted stock units, stock appreciation rights, and restricted stock under the 2023 Plan was 1,243,958 at December 31, 2025.

(J) COMPUTATION OF EARNINGS PER SHARE

The calculation of basic and diluted common shares outstanding is as follows:

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| | | | | |
|:---|:---|:---|:---|:---|
|  | **For the Three Months Ended<br>December 31,** | **For the Three Months Ended<br>December 31,** | **For the Nine Months Ended<br>December 31,** | **For the Nine Months Ended<br>December 31,** |
|  | **2025** | **2024** | **2025** | **2024** |
| **Weighted-Average Shares of Common<br> Stock Outstanding** | 31824706 | 33317168 | 32247333 | 33493382 |
| **Effect of Dilutive Shares:** |  |  |  |  |
| **Assumed Exercise of Outstanding<br> Dilutive Options** | 175289 | 203978 | 176601 | 231459 |
| **Less Shares Repurchased from<br> Proceeds of Assumed Exercised<br> Options** | (74668) | (67763) | (75339) | (86173) |
| **Restricted Stock and Restricted Stock<br> Units** | 80598 | 155155 | 80656 | 132992 |
| **Weighted-Average Common Stock and<br> Dilutive Securities Outstanding** | **32005925** | **33608538** | **32429251** | **33771660** |
| **Shares Excluded Due to Anti-Dilution<br> Effects, Including Contingent Awards** | **39215** | **5476** | **35999** | **4047** |

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(K) PENSION AND EMPLOYEE BENEFIT PLANS

We historically sponsored several single-employer defined benefit plans, which we merged into a single plan on March 31, 2025. This defined benefit plan, along with our defined contribution plan, covers substantially all our employees. Benefits paid under the single-employer defined benefit plans covering certain hourly employees were historically based on years of service and the employee's qualifying compensation over the last few years of employment. These plans have been frozen to new participants and new benefits over the last several years, with the last plan frozen during fiscal 2020. Our defined benefit plans are all fully funded, with plan assets exceeding the benefit obligation at March 31, 2025. Due to the frozen status and current funding of the single-employer pension plans, our expected pension expense for fiscal 2026 is less than $0.1 million.

(L) INCOME TAXES

Income Taxes for the interim periods presented have been included in the accompanying financial statements on the basis of an estimated annual effective tax rate. In addition to the amount of tax resulting from applying the estimated annual effective tax rate to pre-tax income, we will include, when appropriate, certain items treated as discrete events to arrive at an estimated overall tax amount. The effective tax rate for the nine months ended December 31, 2025, was approximately 22%, which is consistent with the tax rate for the nine months ended December 31, 2024. The effective tax rate was higher than the U.S. statutory rate of 21% mainly due to state income taxes, partially offset by a benefit recognized related to percentage depletion.

On July 4, 2025, H.R.1 - One Big Beautiful Bill Act (OBBBA) was signed into law. The OBBBA, among other provisions, makes permanent 100% bonus depreciation and restores expensing of domestic research expenditures. Changes in tax laws are recognized in the period of enactment. OBBBA did not have a material impact on the Company's annual income tax rate or income tax expense, but the bonus depreciation provisions of the act will affect the timing of income tax payments in current and future periods.

(M) LONG-TERM DEBT

Long-Term Debt at December 31, 2025 was as follows:

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| | | | | |
|:---|:---|:---|:---|:---|
|  | **December 31,** | **December 31,** | **March 31,** | **March 31,** |
|  | **2025** | **2025** | **2025** | **2025** |
|  | (dollars in thousands) | (dollars in thousands) | (dollars in thousands) | (dollars in thousands) |
| **Revolving Credit Facility** | $— |  | $— | 200000 |
| **2.500% Senior Unsecured Notes Due** 2031 |  | 750000 |  | 750000 |
| **5.000% Senior Unsecured Notes Due** 2036 |  | 750000 |  |  |
| **Term Loan** |  | 285000 |  | 296250 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total Debt** |  | 1785000 |  | 1246250 |
| **Less: Current Portion of Long-Term Debt** |  | (15000) |  | (15000) |
| **Less: Unamortized Discount and Debt Issuance Costs** |  | (21821) |  | (7934) |
| &nbsp;&nbsp;&nbsp;&nbsp;**Long-Term Debt** | $— | **1748179** | $— | **1223316** |

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**<u>Revolving Credit Facility</u>**

We have an unsecured $750.0 million revolving credit facility (the Revolving Credit Facility), which includes a separate $300.0 million term loan facility (the Term Loan). The Revolving Credit Facility also provides the

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Company the option to increase the borrowing capacity by up to $375.0 million (for a total borrowing capacity of $1,125.0 million), provided the existing lenders, or new lenders, agree to such increase. The Revolving Credit Facility includes a $40.0 million letter of credit facility and a swingline loan sub-facility of $25.0 million, and expires on February 4, 2030.

The Revolving Credit Facility contains customary covenants for an unsecured investment-grade facility, including covenants that restrict the Company's and/or its subsidiaries' ability to incur additional debt; encumber assets; merge with or transfer or sell assets to other persons; and enter into certain affiliate transactions. The Revolving Credit Facility also requires the Company to maintain at the end of each fiscal quarter a Leverage Ratio of 3.50:1.00 or less and an Interest Coverage Ratio (both ratios, as defined in the Revolving Credit Facility) equal to or greater than 2.50 to 1.00 (collectively, the Financial Covenants).

At the Company's option, outstanding loans under the Revolving Credit Facility bear interest, at a variable rate equal to either (i) the adjusted term SOFR rate (secured overnight financing rate), plus 10 basis points, plus an agreed spread (ranging from 100 to 162.5 basis points, which is established based on the Company's credit rating); (ii) in respect of any Revolving Loans (until such time as the then-existing Benchmark (as defined in the Revolving Credit Facility) is replaced in accordance with the Revolving Credit Facility), the adjusted daily simple SOFR rate, plus 10 basis points, plus an agreed spread (ranging from 100 to 162.5 basis points, which is established based on the Company's credit rating) or (iii) an Alternate Base Rate (as defined in the Revolving Credit Facility), which is the highest of (a) the Prime Rate (as defined in the Revolving Credit Facility) in effect on any applicable day, (b) the NYFRB Rate (as defined in the Revolving Credit Facility) in effect on any applicable day, plus ½ of 1%, and (c) the Adjusted Term SOFR (as defined in the Revolving Credit Facility) for a one-month interest period on any applicable day, or if such day is not a business day, the immediately preceding business day, plus 1.0%, in each case plus an agreed upon spread (ranging from 0 to 62.5 basis points), which is established quarterly based on the Company's credit rating. The Company is also required to pay a facility fee on unused available borrowings under the Revolving Credit Facility ranging from 9 to 22.5 basis points, which is established based on the Company's then credit rating.

The Company pays each lender a participation fee with respect to such lender's participations in letters of credit, which fee accrues at the same Applicable Rate (as defined in the Revolving Credit Facility) used to determine the interest rate applicable to Eurodollar Revolving Loans (as defined in the Revolving Credit Facility), plus a fronting fee for each letter of credit issued by the issuing bank in an amount equal to 12.5 basis points per annum on the daily maximum amount then available to be drawn under such letter of credit. The Company also pays each issuing bank such bank's standard fees with respect to issuance, amendment or extensions of letters of credit and other processing fees, and other standard costs and charges relating to such issuing bank's letters of credit from time to time.

We had no outstanding borrowings under the Revolving Credit Facility. There was $9.9 million of letters of credit outstanding as of December 31, 2025, leaving us with $740.1 million of available borrowings under the Revolving Credit Facility, net of the letters of credit outstanding. We were in compliance with all Financial Covenants on December 31, 2025; therefore, the entire $740.1 million is available for future borrowings.

**<u>Term Loan</u>**

On February 4, 2025, we increased our Term Loan borrowings under the Revolving Credit Facility to $300.0 million, and used these proceeds to, among other things, pay down a portion of the Revolving Credit Facility. The Term Loan requires quarterly principal payments of approximately $3.8 million, with any unpaid amounts due upon maturity on February 4, 2030. At the Company's option, principal amounts outstanding under the Term Loan bear interest as set forth in the Revolving Credit Facility (but not, for the avoidance of doubt, at a daily simple SOFR rate unless and until such time as the then-existing Benchmark (as defined in the Revolving Credit Facility) is replaced in accordance with the Revolving Credit Facility).

------

**<u>2.500% Senior Unsecured Notes Due 2031</u>**

On July 1, 2021, we issued $750.0 million aggregate principal amount of 2.500% senior notes due July 2031 (the 2.500% Senior Unsecured Notes). The 2.500% Senior Unsecured Notes are senior unsecured obligations of the Company and are not guaranteed by any of our subsidiaries. The 2.500% Senior Unsecured Notes were issued net of original issue discount of $6.3 million and have an effective interest rate of approximately 2.6%. The original issue discount is being amortized by the effective interest method over the 10-year term of the notes. The 2.500% Senior Unsecured Notes are redeemable prior to April 1, 2031, at a redemption price equal to 100% of the aggregate principal amount of the 2.500% Senior Unsecured Notes being redeemed, plus the present value of remaining scheduled payments of principal and interest from the applicable redemption date to April 1, 2031, discounted to the redemption date on a semi-annual basis at the Treasury rate plus 20 basis points. The 2.500% Senior Unsecured Notes are redeemable on or after April 1, 2031, at a redemption price equal to 100% of the aggregate principal amount of the 2.500% Senior Unsecured Notes being redeemed, plus accrued and unpaid interest to, but excluding, the applicable redemption date. If we experience certain change of control triggering events, we would be required to offer to repurchase the 2.500% Senior Unsecured Notes at a purchase price equal to 101% of the aggregate principal amount of the 2.500% Senior Unsecured Notes being repurchased, plus accrued and unpaid interest to, but excluding, the applicable redemption date. The indenture governing the 2.500% Senior Unsecured Notes contains certain covenants that limit our ability to create or permit to exist certain liens; enter into sale and leaseback transactions; and consolidate, merge, or transfer all or substantially all of our assets, and provides for certain events of default that, if any occurred, would permit or require the principal of and accrued interest on the 2.500% Senior Unsecured Notes to become or be declared due and payable.

**<u>5.000% Senior Unsecured Notes Due 2036</u>**

On November 13, 2025, we issued $750.0 million aggregate principal amount of 5.000% senior notes due March 2036 (the 5.000% Senior Unsecured Notes). The 5.000% Senior Unsecured Notes are senior unsecured obligations of the Company and are not guaranteed by any of our subsidiaries. The 5.000% Senior Unsecured Notes were issued net of original issue discount of $8.2 million and have an effective interest rate of approximately 5.1%. The original issue discount is being amortized by the effective interest method over the term of the notes. The 5.000% Senior Unsecured Notes are redeemable prior to December 15, 2035, at a redemption price equal to the greater of (i) the present value of remaining scheduled payments of principal and interest from the applicable redemption date to December 15, 2035, discounted to the redemption date on a semi-annual basis at the Treasury rate plus 20 basis points, less interest accrued to the applicable redemption date and (ii) 100% of the aggregate principal amount of the 5.000% Senior Unsecured Notes being redeemed, plus, in either case, accrued and unpaid interest to, but excluding, the applicable redemption date. The 5.000% Senior Unsecured Notes are redeemable on or after December 15, 2035, at a redemption price equal to 100% of the aggregate principal amount of the 5.000% Senior Unsecured Notes being redeemed, plus accrued and unpaid interest to, but excluding, the applicable redemption date. If we experience certain change of control triggering events, we would be required to offer to repurchase the 5.000% Senior Unsecured Notes at a purchase price equal to 101% of the aggregate principal amount of the 5.000% Senior Unsecured Notes being repurchased, plus accrued and unpaid interest to, but excluding, the applicable repurchase date. The indenture governing the 5.000% Senior Unsecured Notes contains certain covenants that limit our ability to create or permit to exist certain liens; enter into sale and leaseback transactions; and consolidate, merge, or transfer all or substantially all of our assets, and provides for certain events of default that, if any occurred, would permit or require the principal of and accrued interest on the 5.000% Senior Unsecured Notes to become or be declared due and payable.

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(N) SEGMENT INFORMATION

Operating segments are defined as components of an enterprise that engage in business activities that earn revenue, incur expenses, and prepare separate financial information that is evaluated regularly by our chief operating decision maker (CODM), who is our President and Chief Executive Officer, to assist in allocating resources and assessing performance. This assessment is primarily based on segment earnings from operations, as management believes this is the best metric for segment operating performance. The CODM uses segment profit as part of his review of the monthly operating results on a segment basis. The actual monthly results are reviewed against budgeted amounts as well as the current year reforecast and prior year actual amounts. Interest and taxes are managed on a centralized basis and are not included in segment operating information.

Our business is organized into two sectors, within which there are four reportable business segments. The Heavy Materials sector includes the Cement and Concrete and Aggregates segments. The Light Materials sector includes the Gypsum Wallboard and Recycled Paperboard segments. The Company's operating segments are the same as the Company's reporting segments.

Our primary products, portland cement and gypsum wallboard, are essential for building, expanding, and repairing roads, highways, and residential, commercial, and industrial structures across America. We manufacture and sell our products through a network of more than 70 facilities spanning 21 states. Demand for our products is generally cyclical and seasonal, depending on economic and geographic conditions. Our operations are conducted in the United States and include the mining of limestone for the manufacture, production, distribution, and sale of portland cement (a basic construction material that is the essential binding ingredient in concrete); the grinding and sale of slag; the mining of gypsum for the manufacture and sale of gypsum wallboard; the manufacture and sale of recycled paperboard to the gypsum wallboard industry and other paperboard converters; the sale of readymix concrete; and the mining and sale of aggregates (crushed stone, sand, and gravel).

We operate eight modern cement plants, two slag grinding facilities, and over 30 cement distribution terminals. One cement plant, one slag plant, and six terminals are operated though our joint venture located in Buda, Texas (the Joint Venture). Our cement companies focus on the U.S. heartland and operate as an integrated network selling product primarily in California, Colorado, Illinois, Indiana, Iowa, Kansas, Kentucky, Missouri, Nebraska, Nevada, Ohio, Oklahoma, Tennessee, and Texas. We operate over 25 readymix concrete batch plants and seven aggregates processing plants, with annual production capacity of 9 million tons, in markets that are complementary to our cement network.

We operate five gypsum wallboard plants and a recycled paperboard mill. We distribute gypsum wallboard and recycled paperboard throughout the continental United States, with the exception of the Northeast.

We account for intersegment sales at market prices. For segment reporting purposes only, we proportionately consolidate our 50% share of the Joint Venture Revenue and Operating Earnings, consistent with the way management reports the segments within the Company for making operating decisions and assessing performance.

------

The following tables set forth certain financial information relating to our operations by segment. We do not allocate interest or taxes at the segment level, only at the consolidated Company level.

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **For the Three Months Ended December 31, 2025**<br> (dollars in thousands) | **Cement** | **Concrete<br>and<br>Aggregates** | **Gypsum Wallboard** | **Recycled Paperboard** | **Total** |
| **Revenue from External Customers** | $283496 | $68999 | $175874 | $27587 | $555956 |
| **Intersegment Revenue** | 8309 | 4500 |  | 20251 | 33060 |
| **Revenue from Joint Venture** | 29366 |  |  |  | 29366 |
|  | $321171 | $73499 | $175874 | $47838 | $618382 |
| **Reconciliation of Revenue** |  |  |  |  |  |
| **Intersegment Revenue** |  |  |  |  | (33060) |
| **Revenue from Joint Venture** |  |  |  |  | (29366) |
| **Total Consolidated Revenue** |  |  |  |  | $555956 |
| **Less:** |  |  |  |  |  |
| **Freight and Delivery** | $24868 | $7116 | $32394 | $— | $64378 |
| **Parts, Supplies, and Services (Includes Maintenance)** | 48696 | 13681 | 4998 | 3899 | 71274 |
| **Energy** | 35960 | 2219 | 8427 | 4266 | 50872 |
| **Raw Materials** | 26176 | 26127 | 44035 | 19291 | 115629 |
| **Labor and Fixed Costs** | 43496 | 10155 | 16584 | 5467 | 75702 |
| **Depreciation, Depletion, and Amortization** <sup>(1)</sup> | 24169 | 6999 | 5663 | 3295 | 40126 |
| **Purchased Cement** | 21773 |  |  |  | 21773 |
| **Other Segment Items** | 4690 | 5822 | 2416 | 374 | 13302 |
| **Segment Profit** | $91343 | $1380 | $61357 | $11246 | $165326 |
| **Reconciliation of Segment Profit and Loss** |  |  |  |  |  |
| **Corporate General and Administrative Expense** |  |  |  |  | (24010) |
| **Other Non-Operating Income** |  |  |  |  | 1644 |
| **Interest Expense** |  |  |  |  | (13712) |
| **Earnings Before Income Taxes** |  |  |  |  | $129248 |

---

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **For the Nine Months Ended December 31, 2025**<br> (dollars in thousands) | **Cement** | **Concrete<br>and<br>Aggregates** | **Gypsum Wallboard** | **Recycled Paperboard** | **Total** | **Total** |
| **Revenue from External Customers** | $938475 | $224361 | $580872 | $85844 | $— | 1829552 |
| **Intersegment Revenue** | 28226 | 12530 |  | 61694 |  | 102450 |
| **Revenue from Joint Venture** | 86961 |  |  |  |  | 86961 |
|  | $1053662 | $236891 | $580872 | $147538 | $— | 2018963 |
| **Reconciliation of Revenue** |  |  |  |  |  |  |
| **Intersegment Revenue** |  |  |  |  |  | (102450) |
| **Revenue from Joint Venture** |  |  |  |  |  | (86961) |
| **Total Consolidated Revenue** |  |  |  |  | $— | 1829552 |
| **Less:** |  |  |  |  |  |  |
| **Freight and Delivery** | $85672 | $22003 | $104332 | $— | $— | 212007 |
| **Parts, Supplies, and Services (Includes Maintenance)** | 165330 | 38869 | 15609 | 10356 |  | 230164 |
| **Energy** | 108050 | 7015 | 25539 | 12640 |  | 153244 |
| **Raw Materials** | 76541 | 86261 | 130451 | 60549 |  | 353802 |
| **Labor and Fixed Costs** | 130603 | 31178 | 47723 | 16329 |  | 225833 |
| **Depreciation, Depletion, and Amortization** <sup>(1)</sup> | 70231 | 20927 | 18676 | 10873 |  | 120707 |
| **Purchased Cement** | 60878 |  |  |  |  | 60878 |
| **Other Segment Items** | 64156 | 15159 | 17237 | 5026 |  | 101578 |
| **Segment Profit** | $292201 | $15479 | $221305 | $31765 | $— | 560750 |
| **Reconciliation of Segment Profit and Loss** |  |  |  |  |  |  |
| **Corporate General and Administrative Expense** |  |  |  |  |  | (66109) |
| **Other Non-Operating Income** |  |  |  |  |  | 3729 |
| **Interest Expense** |  |  |  |  |  | (34790) |
|  |  |  |  |  | . | . |
| **Earnings Before Income Taxes** |  |  |  |  | $— | 463580 |

---

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **For the Three Months Ended December 31, 2024**<br> (dollars in thousands) | **Cement** | **Concrete<br>and<br>Aggregates** | **Gypsum Wallboard** | **Recycled Paperboard** | **Total** |
| **Revenue from External Customers** | $259890 | $56405 | $209493 | $32237 | $558025 |
| **Intersegment Revenue** | 9084 | 4311 |  | 23921 | 37316 |
| **Revenue from Joint Venture** | 26426 |  |  |  | 26426 |
|  | $295400 | $60716 | $209493 | $56158 | $621767 |
| **Reconciliation of Revenue** |  |  |  |  |  |
| **Intersegment Revenue** |  |  |  |  | (37316) |
| **Revenue from Joint Venture** |  |  |  |  | (26426) |
| **Total Consolidated Revenue** |  |  |  |  | $558025 |
| **Less:** |  |  |  |  |  |
| **Freight and Delivery** | $21490 | $7881 | $35506 | $— | $64877 |
| **Parts, Supplies, and Services (Includes Maintenance)** | 48748 | 9636 | 4804 | 2902 | 66090 |
| **Energy** | 36068 | 1836 | 8807 | 3523 | 50234 |
| **Raw Materials** | 22103 | 26886 | 45788 | 24029 | 118806 |
| **Labor and Fixed Costs** | 40869 | 8456 | 15505 | 5433 | 70263 |
| **Depreciation, Depletion, and Amortization** <sup>(1)</sup> | 23029 | 5261 | 6414 | 3723 | 38427 |
| **Purchased Cement** | 16404 |  |  |  | 16404 |
| **Other Segment Items** | (74) | 2157 | 6276 | 5507 | 13866 |
| **Segment Profit** | $86763 | $(1397) | $86393 | $11041 | $182800 |
| **Reconciliation of Segment Profit and Loss** |  |  |  |  |  |
| **Corporate General and Administrative Expense** |  |  |  |  | (20818) |
| **Other Non-Operating Income** |  |  |  |  | 1381 |
| **Interest Expense** |  |  |  |  | (9061) |
| **Earnings Before Income Taxes** |  |  |  |  | $154302 |

---

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **For the Nine Months Ended December 31, 2024**<br> (dollars in thousands) | **Cement** | **Concrete<br>and<br>Aggregates** | **Gypsum Wallboard** | **Recycled Paperboard** | **Total** |
| **Revenue from External Customers** | $873033 | $183373 | $642294 | $91633 | $1790333 |
| **Intersegment Revenue** | 29748 | 12138 |  | 69542 | 111428 |
| **Revenue from Joint Venture** | 84561 |  |  |  | 84561 |
|  | $987342 | $195511 | $642294 | $161175 | $1986322 |
| **Reconciliation of Revenue** |  |  |  |  |  |
| **Intersegment Revenue** |  |  |  |  | (111428) |
| **Revenue from Joint Venture** |  |  |  |  | (84561) |
| **Total Consolidated Revenue** |  |  |  |  | $1790333 |
| **Less:** |  |  |  |  |  |
| **Freight and Delivery** | $76459 | $26857 | $108853 | $44 | $212213 |
| **Parts, Supplies, and Services (Includes Maintenance)** | 170959 | 27940 | 13867 | 9915 | 222681 |
| **Energy** | 109171 | 5841 | 24291 | 10468 | 149771 |
|  |  |  | - |  |  |
| **Raw Materials** | 66263 | 89904 | 136991 | 73980 | 367138 |
| **Labor and Fixed Costs** | 122819 | 25140 | 46598 | 16277 | 210834 |
| **Depreciation, Depletion, and Amortization** <sup>(1)</sup> | 68853 | 15074 | 19338 | 11082 | 114347 |
| **Purchased Cement** | 57962 |  |  |  | 57962 |
| **Other Segment Items** | 23035 | 4167 | 21846 | 11824 | 60872 |
| **Segment Profit** | $291821 | $588 | $270510 | $27585 | $590504 |
| **Reconciliation of Segment Profit and Loss** |  |  |  |  |  |
| **Corporate General and Administrative Expense** |  |  |  |  | (54346) |
| **Other Non-Operating Income** |  |  |  |  | 4788 |
| **Interest Expense** |  |  |  |  | (30459) |
| **Earnings Before Income Taxes** |  |  |  |  | $510487 |

---

<sup>(1)</sup> Depreciation, Depletion, and Amortization for corporate assets was $1,484 and $3,536 for the three and nine months ended December 31, 2025, respectively, and $807 and $2,314 for the three and nine months ended December 31, 2024, respectively.

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **For the Three Months Ended<br>December 31,** | **For the Three Months Ended<br>December 31,** | **For the Nine Months Ended<br>December 31,** | **For the Nine Months Ended<br>December 31,** | **For the Nine Months Ended<br>December 31,** | **For the Nine Months Ended<br>December 31,** |
|  | **2025** | **2024** | **2025** | **2025** | **2024** | **2024** |
|  | (dollars in thousands) | (dollars in thousands) | (dollars in thousands) | (dollars in thousands) | (dollars in thousands) | (dollars in thousands) |
| **Capital Expenditures** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;**Cement** | $68271 | $35609 | $— | 187303 | $— | 102384 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Concrete and Aggregates** | 6392 | 4668 |  | 19020 |  | 18795 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Gypsum Wallboard** | 29450 | 2560 |  | 76964 |  | 9925 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Recycled Paperboard** | 5174 | 4309 |  | 8111 |  | 12425 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Corporate and Other** | 758 | 224 |  | 3282 |  | 3446 |
|  | $**110045** | $**47370** | $— | **294680** | $— | **146975** |
|  |  |  | **December 31,** | **December 31,** | **March 31,** | **March 31,** |
|  |  |  | **2025** | **2025** | **2025** | **2025** |
|  |  |  | (dollars in thousands) | (dollars in thousands) | (dollars in thousands) | (dollars in thousands) |
| **Segment Assets** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;**Cement** |  |  | $— | 2295110 | $— | 2172459 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Concrete and Aggregates** |  |  |  | 404583 |  | 408792 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Gypsum Wallboard** |  |  |  | 473720 |  | 429268 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Recycled Paperboard** |  |  |  | 165992 |  | 166673 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Corporate and Other** |  |  |  | 504030 |  | 87396 |
|  |  |  | $— | **3843435** | $— | **3264588** |
|  | **For the Three Months Ended<br>December 31,** | **For the Three Months Ended<br>December 31,** | **For the Nine Months Ended<br>December 31,** | **For the Nine Months Ended<br>December 31,** | **For the Nine Months Ended<br>December 31,** | **For the Nine Months Ended<br>December 31,** |
|  | **2025** | **2024** | **2025** | **2025** | **2024** | **2024** |
|  | (dollars in thousands) | (dollars in thousands) | (dollars in thousands) | (dollars in thousands) | (dollars in thousands) | (dollars in thousands) |
| **Cement Operating Earnings** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;**Wholly Owned** | $86923 | $81776 | $— | 277668 | $— | 269842 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Joint Venture** | 4420 | 4987 |  | 14533 |  | 21979 |
|  | $**91343** | $**86763** | $— | **292201** | $— | **291821** |
| **Cement Sales Volume (M tons)** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;**Wholly Owned** | 1687 | 1541 |  | 5543 |  | 5156 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Joint Venture** | 174 | 161 |  | 507 |  | 517 |
|  | **1861** | **1702** |  | **6050** |  | **5673** |

---

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Segment Operating Earnings, including the proportionately consolidated 50% interest in the revenue and expenses of the Joint Venture, represent Revenue, less direct operating expenses, segment Depreciation, and segment Selling, General, and Administrative expenses. We account for intersegment sales at market prices. Corporate assets consist mainly of cash and cash equivalents, general office assets, and miscellaneous other assets.

The basis used to disclose Identifiable Assets; Capital Expenditures; and Depreciation, Depletion, and Amortization conforms with the equity method, and is similar to how we disclose these accounts in our Unaudited Consolidated Balance Sheets and Unaudited Consolidated Statements of Earnings.

The segment breakdown of Goodwill is as follows:

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| | | |
|:---|:---|:---|
|  | **December 31,** | **March 31,** |
|  | **2025** | **2025** |
|  | (dollars in thousands) | (dollars in thousands) |
| **Cement** | $227639 | $227639 |
| **Concrete and Aggregates** | 118877 | 118099 |
| **Gypsum Wallboard** | 116618 | 116618 |
| **Recycled Paperboard** | 7538 | 7538 |
|  | $**470672** | $**469894** |

---

Summarized financial information for the Joint Venture that is not consolidated is set out below. This summarized financial information includes the total amount for the Joint Venture and not our 50% interest in those amounts.

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **For the Three Months Ended<br>December 31,** | **For the Three Months Ended<br>December 31,** | **For the Nine Months Ended<br>December 31,** | **For the Nine Months Ended<br>December 31,** |
|  | **2025** | **2024** | **2025** | **2024** |
|  | (dollars in thousands) | (dollars in thousands) | (dollars in thousands) | (dollars in thousands) |
| **Revenue** | $58731 | $52852 | $173921 | $169122 |
| **Gross Margin** | $11882 | $12483 | $38192 | $49277 |
| **Earnings Before Income Taxes** | $8864 | $10058 | $29631 | $44312 |

---

---

| | | |
|:---|:---|:---|
|  | **December 31,** | **March 31,** |
|  | **2025** | **2025** |
|  | (dollars in thousands) | (dollars in thousands) |
| **Current Assets** | $136018 | $128384 |
| **Noncurrent Assets** | $219238 | $207910 |
| **Current Liabilities** | $38691 | $25618 |
| **Noncurrent Liabilities** | $6445 | $30152 |

---

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(O) INTEREST EXPENSE

The following components are included in Interest Expense, net:

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| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **For the Three Months Ended<br>December 31,** | **For the Three Months Ended<br>December 31,** | **For the Three Months Ended<br>December 31,** | **For the Three Months Ended<br>December 31,** | **For the Nine Months Ended<br>December 31,** | **For the Nine Months Ended<br>December 31,** | **For the Nine Months Ended<br>December 31,** | **For the Nine Months Ended<br>December 31,** |
|  | **2025** | **2025** | **2024** | **2024** | **2025** | **2025** | **2024** | **2024** |
|  | (dollars in thousands) | (dollars in thousands) | (dollars in thousands) | (dollars in thousands) | (dollars in thousands) | (dollars in thousands) | (dollars in thousands) | (dollars in thousands) |
| **Interest Income** | $— | (1556) | $— | (223) | $— | (2071) | $— | (963) |
| **Interest Expense** |  | 16792 |  | 9599 |  | 40735 |  | 31701 |
| **Other Expenses** |  | 688 |  | 474 |  | 1636 |  | 1424 |
| **Interest Capitalized** |  | (2212) |  | (789) |  | (5510) |  | (1703) |
| **Interest Expense, net** | $— | **13712** | $— | **9061** | $— | **34790** | $— | **30459** |

---

Interest Income includes interest earned on investments of excess cash. Components of Interest Expense include interest associated with the Revolving Credit Facility, Term Loan, Senior Unsecured Notes, and commitment fees based on the unused portion of the Revolving Credit Facility. Other Expenses include amortization of debt issuance costs and Revolving Credit Facility costs. Interest Capitalized is related primarily to our long term projects to expand and modernize our Mountain Cement facility in Wyoming, and the modernization of our gypsum wallboard plant in Oklahoma.

(P) COMMITMENTS AND CONTINGENCIES

We have certain deductible limits under our workers' compensation and liability insurance policies for which reserves are established based on the undiscounted estimated costs of known and anticipated claims. We have entered into standby letter of credit agreements relating to workers' compensation, auto, and general liability self-insurance. At December 31, 2025, we had contingent liabilities under these outstanding letters of credit of approximately $9.9 million.

In the ordinary course of business, we execute contracts involving indemnifications that are both standard in the industry and specific to a transaction, such as the sale of a business. These indemnifications may include claims relating to any of the following: environmental and tax matters; intellectual property rights; governmental regulations and employment-related matters; customer, supplier, and other commercial contractual relationships; construction contracts; and financial matters. While the maximum amount to which the Company may be exposed under such agreements cannot be estimated, management believes these indemnifications will not have a material adverse effect on our consolidated financial position, results of operations, or cash flows. We currently have no outstanding guarantees.

We are currently contingently liable for performance under $48.5 million in performance bonds required by certain states and municipalities, and their related agencies. The bonds are principally for certain reclamation obligations and mining permits. We have indemnified the underwriting insurance company against any exposure under the performance bonds. In our past experience, no material claims have been made against these financial instruments.

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(Q) FAIR VALUE OF FINANCIAL INSTRUMENTS

The fair value of our long-term debt has been estimated based on our current incremental borrowing rates for similar types of borrowing arrangements. The fair value of our 2.500% and 5.000% Senior Unsecured Notes at December 31, 2025, was as follows:

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| | |
|:---|:---|
|  | **Fair Value** |
|  | (dollars in thousands) |
| **2.500% Senior Unsecured Notes Due** 2031 | $682000 |
| **5.000% Senior Unsecured Notes Due** 2036 | $738000 |

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The estimated fair value of our long-term debt was based on quoted prices of similar debt instruments with similar terms that are publicly traded (estimated based on Level 1 input of the fair value hierarchy). The carrying values of Cash and Cash Equivalents, Accounts Receivable, Accounts Payable, and Accrued Liabilities approximate their fair values at December 31, 2025, because these assets and liabilities have short-term maturities. The fair value of our Term Loan also approximates the carrying value at December 31, 2025.

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**ITEM 2. Management's Discussion and Analysis of Financial Condition and Results of Operations**

EXECUTIVE SUMMARY

We are a leading U.S. manufacturer of heavy construction products and light building materials. Our primary products, portland cement and gypsum wallboard, are essential for building, expanding, and repairing roads, highways, and residential, commercial, and industrial structures across America. Headquartered in Dallas, Texas, Eagle manufactures and sells its products through a network of more than 70 facilities spanning 21 states. Demand for our products is generally cyclical and seasonal, depending on economic and geographic conditions. General economic downturns or localized downturns in the regions where we have operations may have a material adverse effect on our business, financial condition, and results of operations.

Our business is organized into two sectors: Heavy Materials, which includes the Cement and Concrete and Aggregates segments, and Light Materials, which includes the Gypsum Wallboard and Recycled Paperboard segments. Financial results and other information for the three and nine months ended December 31, 2025, and 2024, are presented on a consolidated basis and by business segment.

We conduct one of our cement operations through a joint venture, Texas Lehigh Cement Company LP, which is located in Buda, Texas (the Joint Venture). We own a 50% interest in the Joint Venture and account for our interest under the equity method of accounting. We proportionately consolidate our 50% share of the Joint Venture's Revenue and Operating Earnings in the presentation of our Cement segment, which is the way management organizes financial information with respect to the segments within the Company for making operating decisions and assessing performance.

All our business activities are conducted in the United States. These activities include the mining of limestone for the manufacture, production, distribution, and sale of portland cement, including portland limestone cement (a basic construction material that is the essential binding ingredient in concrete); the grinding and sale of slag; the mining of gypsum for the manufacture and sale of gypsum wallboard; the manufacture and sale of recycled paperboard to the gypsum wallboard industry and other paperboard converters; the sale of readymix concrete; and the mining and sale of aggregates (crushed stone, sand, and gravel).

On August 9, 2024, we finalized the acquisition of an aggregates business in Northern Kentucky. The purchase price of the acquisition was approximately $24.9 million. This business is included in our Heavy Materials sector, and its results of operations are reported in the Concrete and Aggregates business segment from the date of purchase.

On January 7, 2025, we acquired Bullskin Stone & Lime LLC in Western Pennsylvania. The purchase price of this acquisition was approximately $149.9 million. This acquisition is included in our Heavy Materials sector, and its results of operations are reported in the Concrete and Aggregates business segment from the date of purchase. See Note (C) in the Notes to Unaudited Consolidated Financial Statements for more information regarding this acquisition.

The above acquisitions are collectively referred to as the Aggregates Acquisitions in the following discussion of our Results of Operations.

MARKET CONDITIONS AND OUTLOOK

In the first nine months of fiscal year 2026, conditions in our markets were mixed, with a favorable environment for our Heavy Materials business and a more challenging Light Materials environment. Federal, state, and local budgets for public infrastructure projects remained strong, and spending across certain non-residential end markets continued to be elevated, driving demand for cement. In this environment, our Cement sales volume was up approximately 7% during the first nine months of our fiscal year. The outlook for cement demand in our markets continues to be favorable, as a significant amount of the funds from the trillion-dollar Infrastructure

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Investment and Jobs Act (IIJA) remains to be spent, and state Department of Transportation (DOT) budgets remain strong.

The backdrop for residential construction activity remained challenging in the first nine months of our fiscal 2026, primarily because of housing affordability concerns driven by persistently elevated mortgage interest rates, as well as other macroeconomic uncertainties. At the same time, the national supply of homes remains constrained by years of underbuilding. Recently, new home construction has slowed as builders have pulled back on production because of mixed demand signals and higher levels of new home inventory in certain markets. This recent pullback affected our wallboard sales volume, which was down approximately 8% in the first nine months of our fiscal year. The path ahead for mortgage rates, and the corresponding effect on residential construction activity, is unclear, and thus the timing of a recovery in new-home construction remains uncertain.

**<u>Cost Outlook</u>** 

We believe we are well-positioned to manage our cost structure and meet our customers' needs. Our major costs include raw materials, energy, freight, labor, and maintenance.

Our substantial raw material reserves for our Cement, Aggregates, and Gypsum Wallboard businesses, and their proximity to our respective manufacturing facilities support our low-cost producer position across all our business segments.

Paper is a significant cost component in our Recycled Paperboard and Gypsum Wallboard businesses. The primary raw material used to produce paperboard is old corrugated containers (OCC). Recently, OCC prices have been declining; however, recycled fiber prices are subject to change on short notice due to several factors, including supply of OCC and demand for OCC from both domestic and international companies. Our current customer contracts for gypsum liner include price adjustments that partially compensate for changes in the cost of raw materials, such as recycled fiber, and energy, including natural gas and electricity. However, because these price adjustments are not realized until future quarters, changes to material costs in our Gypsum Wallboard segment could be delayed until the effects of these price adjustments are realized.

Energy costs decreased slightly in the third quarter of our fiscal year 2026, and are expected to remain relatively stable over the near future.

Freight costs for our Gypsum Wallboard segment increased during the third quarter of fiscal 2026 and are expected to remain at similar levels for the rest of the fiscal year. Freight costs for our Cement segment, which relies mostly on rail delivery, increased slightly in the third quarter, and are also expected to remain stable over the remainder of the fiscal year.

Labor shortages, primarily of truck drivers, can adversely affect our Concrete business. Any worsening of labor constraints could cause delays and inefficiencies in this business.

Maintenance costs are a significant part of our total operating expenses, and we expect a low single-digit increase in inflation for maintenance in the remainder of our fiscal 2026, as equipment and contractor costs remain elevated.

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RESULTS OF OPERATIONS

**THREE MONTHS ENDED December 31, 2025, Compared WITH THREE MONTHS ENDED December 31, 2024** 

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| | | | |
|:---|:---|:---|:---|
|  | **For the Three Months Ended December 31,** | **For the Three Months Ended December 31,** |  |
|  | **2025** | **2024** | **Percentage<br>Change** |
|  | (in thousands, except per share) | (in thousands, except per share) |  |
| **Revenue** | $555956 | $558025 |  |
| **Cost of Goods Sold** | (395050) | (380212) | 4% |
| **Gross Profit** | 160906 | 177813 | (10)% |
| **Equity in Earnings of Unconsolidated Joint Venture** | 4420 | 4987 | (11)% |
| **Corporate General and Administrative Expense** | (24010) | (20818) | 15% |
| **Other Non-Operating Income** | 1644 | 1381 | 19% |
| **Interest Expense, net** | (13712) | (9061) | 51% |
| **Earnings Before Income Taxes** | 129248 | 154302 | (16)% |
| **Income Tax Expense** | (26345) | (34728) | (24)% |
| **Net Earnings** | $**102903** | $**119574** | **(14)%** |
| **Diluted Earnings per Share** | $**3.22** | $**3.56** | **(10)%** |

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**<u>Revenue</u>**

Revenue decreased by $2.0 million to $556.0 million for the three months ended December 31, 2025. Excluding the $7.6 million related to the Aggregates Acquisition, Revenue decreased $9.6 million. Lower gross sales prices and Sales Volume adversely affected Revenue by approximately $7.3 million and $2.3 million. The lower Sales Volume was mostly related to our Gypsum Wallboard segment.

**<u>Cost of Goods Sold</u>**

Cost of Goods Sold increased by $14.9 million, or 4%, to $395.1 million for the three months ended December 31, 2025. Excluding the $6.5 million related to the Aggregates Acquisition, Cost of Goods Sold increased $8.4 million, or 2%. The increase was due to higher operating costs of $6.8 million and higher Sales Volume of $1.6 million.

**<u>Gross Profit</u>**

Gross Profit decreased 10% to $160.9 million during the three months ended December 31, 2025. Excluding the $1.1 million of Gross Profit related to the Aggregates Acquisition, Gross Profit decreased $18.0 million, or 10%. The decrease was primarily related to lower gross sales prices and Sales Volume of $7.3 million and $3.9 million, respectively, as well as increased operating costs of $6.8 million. The gross margin declined to 29%, primarily because of lower gross sales prices and higher operating costs.

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**<u>Equity in Earnings of Unconsolidated Joint Venture</u>**

Equity in Earnings of our Unconsolidated Joint Venture decreased by $0.6 million, or 11%, for the three months ended December 31, 2025. The decrease was due to lower gross sales prices of $2.7 million, which were offset by higher Sales Volume of $1.1 million and lower operating costs of $1.0 million. Decreased operating costs were primarily a result of lower maintenance and other fixed costs of $2.1 million and $1.3 million, respectively, which were partially offset by higher raw materials and freight costs of $1.5 million and $0.7 million, respectively.

**<u>Corporate General and Administrative</u>**

Corporate General and Administrative expenses increased by approximately $3.2 million, or 15%, for the three months ended December 31, 2025. The increase was due primarily to business-development and professional services and information technology costs of $1.4 million and $1.2 million, respectively.

**<u>Other Non-Operating Income</u>** 

Other Non-Operating Income consists of a variety of items that are unrelated to segment operations and include non-inventoried Aggregates income, asset sales, and other miscellaneous income and cost items.

**<u>Interest Expense, Net</u>**

Interest Expense, net increased by approximately $4.7 million, or 51%, during the three months ended December 31, 2025. This increase was mainly due to increased interest expense of approximately $4.7 million on our 5.000% Senior Unsecured Notes due May 2036, which were issued on November 13, 2025, and $1.0 million of higher interest on our Term Loan, which was increased to $300.0 million in February 2025. This was partially offset by higher Interest Capitalized of approximately $1.4 million. The increase in Interest Capitalized was due primarily to capital spending for the expansion and modernization of our cement plant in Laramie, Wyoming and our gypsum wallboard plant in Oklahoma.

**<u>Earnings Before Income Taxes</u>**

Earnings Before Income Taxes decreased to $129.2 million during the three months ended December 31, 2025, primarily as a result of lower Gross Profit and Equity in Earnings of Unconsolidated Joint Venture, and higher Corporate General and Administrative expense and Interest Expense, net.

**<u>Income Tax Expense</u>**

Income Tax Expense was $26.3 million for the three months ended December 31, 2025, compared with $34.7 million for the three months ended December 31, 2024. The effective tax rate declined to 20% from 23% in the prior-year period. The decline in the effective tax rate was primarily due to a benefit recognized in the current year related to certain income tax credits.

**<u>Net Earnings</u>**

Net Earnings decreased 14% to $102.9 million for the three months ended December 31, 2025.

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RESULTS OF OPERATIONS

**nine MONTHS ENDED december 31, 2025, Compared WITH nine MONTHS ENDED december 31, 2024** 

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| | | | |
|:---|:---|:---|:---|
|  | **For the Nine Months Ended December 31,** | **For the Nine Months Ended December 31,** |  |
|  | **2025** | **2024** | **Percentage<br>Change** |
|  | (in thousands, except per share) | (in thousands, except per share) |  |
| **Revenue** | $1829552 | $1790333 | 2% |
| **Cost of Goods Sold** | (1283335) | (1221808) | 5% |
| **Gross Profit** | 546217 | 568525 | (4)% |
| **Equity in Earnings of Unconsolidated Joint Venture** | 14533 | 21979 | (34)% |
| **Corporate General and Administrative Expense** | (66109) | (54346) | 22% |
| **Other Non-Operating Income** | 3729 | 4788 | (22)% |
| **Interest Expense, net** | (34790) | (30459) | 14% |
| **Earnings Before Income Taxes** | 463580 | 510487 | (9)% |
| **Income Tax Expense** | (99932) | (113551) | (12)% |
| **Net Earnings** | $**363648** | $**396936** | **(8)%** |
| **Diluted Earnings per Share** | $**11.21** | $**11.75** | **(5)%** |

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**<u>Revenue</u>**

Revenue increased by $39.3 million, or 2%, to $1,829.6 million for the nine months ended December 31, 2025. Excluding the $30.6 million related to the Aggregates Acquisition, Revenue increased $8.7 million. Higher Sales Volumes positively affected Revenue by $21.4 million, and were partially offset by lower gross sales prices, which adversely affected Revenue by approximately $12.7 million.

**<u>Cost of Goods Sold</u>**

Cost of Goods Sold increased by $61.5 million, or 5%, to $1,283.3 million for the nine months ended December 31, 2025. Excluding the $24.4 million related to the Aggregates Acquisition, Cost of Goods Sold increased $37.1 million, or 3%.The increase was due to higher Sales Volume and operating costs of $19.1 million and $18.0 million, respectively. Higher operating costs were primarily related to our Gypsum Wallboard and Cement businesses and are discussed further in the segment analysis.

**<u>Gross Profit</u>**

Gross Profit decreased 4% to $546.2 million during the nine months ended December 31, 2025. Excluding the $6.2 million of Gross Profit related to the Aggregates Acquisition, Gross Profit decreased $28.5 million, or 5%. The decrease was primarily related to higher operating costs and lower gross sales prices of $18.0 million and $12.7 million, respectively, partially offset by higher Sales Volume of $2.2 million. The gross margin declined to 30%, primarily because of higher operating costs and lower gross sales prices.

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**<u>Equity in Earnings of Unconsolidated Joint Venture</u>**

Equity in Earnings of our Unconsolidated Joint Venture decreased by $7.5 million, or 34%, for the nine months ended December 31, 2025. The decrease was due to increased operating costs and lower sales volume of $11.1 million and $0.4 million, respectively, which were partially offset by $4.0 million of increased gross sales prices. Increased operating costs resulted primarily from higher raw materials, freight, energy, and fixed costs, which reduced operating earnings by $4.6 million, $2.2 million, $1.9 million, and $1.8 million, respectively.

**<u>Corporate General and Administrative</u>**

Corporate General and Administrative expenses increased by approximately $11.8 million, or 22%, for the nine months ended December 31, 2025. The increase was due primarily to higher salary and incentive compensation, information technology costs, and business-development and professional fees of $4.3 million, $3.1 million, and $3.3 million, respectively.

**<u>Other Non-Operating Income</u>** 

Other Non-Operating Income consists of a variety of items that are unrelated to segment operations and include non-inventoried Aggregates income, asset sales, and other miscellaneous income and cost items.

**<u>Interest Expense, Net</u>**

Interest Expense, net increased by approximately $4.3 million, or 14%, during the nine months ended December 31, 2025. This increase was mainly due to increased interest expense of approximately $4.7 million on our 5.000% Senior Unsecured Notes due May 2036, which were issued on November 13, 2025, and $4.3 million of higher interest on our Term Loan, which was increased to $300.0 million in February 2025. This was partially offset by higher Interest Capitalized of approximately $3.8 million, and higher interest income of $1.1 million. The increase in Interest Capitalized was due primarily to capital spending for the expansion and modernization of our cement plant in Laramie, Wyoming and our gypsum wallboard plant in Oklahoma

**<u>Earnings Before Income Taxes</u>**

Earnings Before Income Taxes decreased to $463.6 million during the nine months ended December 31, 2025, primarily as a result of lower Gross Profit and Equity in Earnings of Unconsolidated Joint Venture, and higher Corporate General and Administrative expense and Interest Expense, net.

**<u>Income Tax Expense</u>**

Income Tax Expense was $99.9 million for the nine months ended December 31, 2025, compared with $113.6 million for the nine months ended December 31, 2024. The effective tax rate remained at 22%, consistent with the prior-year period.

**<u>Net Earnings</u>**

Net Earnings decreased 8% to $363.6 million for the nine months ended December 31, 2025.

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**Three and nine MONTHS ENDED December 31, 2025, COMPARED WITH three and nine MONTHS ENDED December 31, 2024, BY SEGMENT**

The following presents results within our two business sectors for the three and nine months ended December 31, 2025, and 2024. Revenue and operating results are organized by sector and discussed by individual business segments.

**<u>Heavy Materials</u>**

**CEMENT** <sup>(1)</sup>

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **For the Three Months Ended December 31,** | **For the Three Months Ended December 31,** |  | **For the Nine Months Ended December 31,** | **For the Nine Months Ended December 31,** |  |
|  | **2025** | **2024** | **Percentage<br>Change** | **2025** | **2024** | **Percentage<br>Change** |
|  | (in thousands, except per ton information) | (in thousands, except per ton information) | (in thousands, except per ton information) | (in thousands, except per ton information) | (in thousands, except per ton information) |  |
| **Revenue, including<br> Intersegment and<br> Joint Venture** | $321171 | $295400 | 9% | $1053662 | $987342 | 7% |
| **Less Intersegment Revenue** | (8309) | (9084) | (9)% | (28226) | (29748) | (5)% |
| **Less Joint Venture Revenue** | (29366) | (26426) | 11% | (86961) | (84561) | 3% |
| **Revenue** | $283496 | $259890 | 9% | $938475 | $873033 | 7% |
| **Sales Volume (M Tons)** | 1861 | 1702 | 9% | 6050 | 5673 | 7% |
| **Freight and Delivery Costs<br> billed to Customers** <sup>(2)</sup> | $(17226) | $(16572) | 4% | $(60182) | $(57561) | 5% |
| **Average Net Sales Price,<br> per ton** <sup>(3)</sup> | $154.52 | $156.82 | (1)% | $155.46 | $156.46 | (1)% |
| **Operating Margin, per ton** | $49.08 | $50.98 | (4)% | $48.30 | $51.44 | (6)% |
| **Operating Earnings** | $91343 | $86763 | 5% | $292201 | $291821 |  |

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<sup>(1) Total of wholly owned subsidiaries and proportionately consolidated 50% interest of the Joint Venture's results.</sup>

<sup>(2) Excludes the cost of freight from our plants to our distribution terminals.</sup>

<sup>(3) Net of freight per ton, including Joint Venture.</sup>

***Three months ended December 31, 2025***

Cement Revenue was $321.2 million, a 9% increase, for the three months ended December 31, 2025. This increase was due to higher Sales Volume, which increased Cement Revenue by $26.0 million, and was partially offset by lower gross sales prices, which decreased Cement Revenue by $0.2 million.

Cement Operating Earnings increased by $4.6 million to $91.3 million for the three months ended December 31, 2025. The increase was due to higher Sales Volume of $8.1 million, which was partially offset by higher operating costs of $3.4 million and lower gross sales prices of $0.2 million. The increase in operating costs was mainly due to higher freight and purchased raw materials costs of approximately $1.6 million and $1.8 million, respectively. The Operating Margin decreased to 28% from 29% because of higher operating costs and lower gross sales prices.

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***Nine months ended December 31, 2025***

Cement Revenue was $1,053.7 million, a 7% increase, for the nine months ended December 31, 2025. This increase was due to higher gross sales prices and Sales Volume, which increased Cement Revenue by $3.9 million and $62.5 million, respectively.

Cement Operating Earnings increased by $0.4 million to $292.2 million for the nine months ended December 31, 2025. The increase was due to higher Sales Volume and higher gross sales prices of $19.8 million and $3.9 million, respectively, which were partially offset by higher operating costs of $23.3 million. The increase in operating costs was mainly due to higher freight, purchased raw materials, and labor and other fixed costs of approximately $4.1 million, $13.3 million, and $9.4 million, respectively. These higher costs were partially offset by lower maintenance and energy costs of approximately $5.6 million and $2.6 million, respectively. The Operating Margin decreased to 28% from 30% because of higher operating costs, partially offset by the increase in gross sales prices.

**CONCRETE AND AGGREGATES**

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **For the Three Months Ended December 31,** | **For the Three Months Ended December 31,** |  | **For the Nine Months Ended December 31,** | **For the Nine Months Ended December 31,** |  |
|  | **2025** | **2024** | **Percentage<br>Change** | **2025** | **2024** | **Percentage<br>Change** |
|  | (in thousands, except per ton information) | (in thousands, except per ton information) | (in thousands, except per ton information) | (in thousands, except per ton information) | (in thousands, except per ton information) |  |
| **Revenue, including<br> Intersegment** | $73499 | $60716 | 21% | $236891 | $195511 | 21% |
| **Less Intersegment Revenue** | (4500) | (4311) | 4% | (12530) | (12138) | 3% |
| **Revenue** | $68999 | $56405 | 22% | $224361 | $183373 | 22% |
| **Sales Volume** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;**M Cubic Yards of Concrete** | 298 | 298 |  | 967 | 989 | (2)% |
| &nbsp;&nbsp;&nbsp;&nbsp;**M Tons of Aggregate** | 1612 | 893 | 81% | 5328 | 2671 | 99% |
| **Average Net Sales Price** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;**Concrete, Per Cubic Yard** | $153.44 | $147.53 | 4% | $152.52 | $148.46 | 3% |
| &nbsp;&nbsp;&nbsp;&nbsp;**Aggregates, Per Ton** | $14.19 | $13.19 | 8% | $14.25 | $12.83 | 11% |
| **Operating Earnings (Loss)** | $1380 | $(1397) | n/m | $15479 | $588 | 2532% |

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***Three months ended December 31, 2025***

Concrete and Aggregates Revenue increased 21% to $73.5 million for the three months ended December 31, 2025. Excluding the Aggregates Acquisition, Revenue increased $5.2 million, or 9%. The increase was due to higher Concrete gross sales prices of $1.9 million and higher Aggregates Sales Volume of $4.3 million, which was partially offset by lower Aggregates gross sales prices (excluding the Aggregates Acquisition), which reduced Revenue by $1.0 million.

Operating Earnings were approximately $1.4 million. Excluding the Aggregates Acquisition, Operating Earnings increased $1.7 million. The increase was due to higher gross sales prices of $0.9 million and Sales Volume of $1.0 million, which were partially offset by higher operating costs of $0.2 million. Excluding the Aggregates

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Acquisition, Sales Volume increased 34%, with most of the increase in our Northern Colorado and Northern Kentucky markets

***Nine months ended December 31, 2025***

Concrete and Aggregates Revenue increased 21% to $236.9 million for the nine months ended December 31, 2025. Excluding the Aggregates Acquisition, Revenue increased $10.8 million, or 6%. The increase was due to higher Aggregates Sales Volume of $12.6 million and higher Concrete gross sales prices of $3.9 million, which were partially offset by lower Concrete Sales Volume and Aggregates gross sales prices, which reduced Revenue by $3.3 million and $2.4 million, respectively.

Operating Earnings were approximately $15.5 million, a 2,532% increase. Excluding the Aggregates Acquisition, Operating Earnings increased $8.7 million, or 1,480%. The increase was due to higher Aggregates Sales Volume and higher gross sales prices, which positively affected Operating Earnings by $4.0 million and $1.6 million, respectively, as well as lower operating costs of $3.1 million. Excluding the Aggregates Acquisition, Sales Volume increased 33%, with most of the increase in our Northern Colorado and Northern Kentucky markets. The decrease in operating costs was primarily due to lower materials and maintenance expenses of approximately $2.0 million and $1.2 million, respectively.

**<u>Light Materials</u>**

**GYPSUM WALLBOARD** 

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **For the Three Months Ended December 31,** | **For the Three Months Ended December 31,** |  | **For the Nine Months Ended December 31,** | **For the Nine Months Ended December 31,** |  |
|  | **2025** | **2024** | **Percentage<br>Change** | **2025** | **2024** | **Percentage<br>Change** |
|  | (in thousands, except per ton information) | (in thousands, except per ton information) | (in thousands, except per ton information) | (in thousands, except per ton information) | (in thousands, except per ton information) |  |
| **Revenue** | $175874 | $209493 | (16)% | $580872 | $642294 | (10)% |
| **Sales Volume (MMSF)** | 637 | 737 | (14)% | 2069 | 2246 | (8)% |
| **Freight and Delivery Costs<br> Billed to Customers** | $(32394) | $(35506) | (9)% | $(104332) | $(108854) | (4)% |
| **Average Net Sales Price, per<br> MSF** <sup>(1)</sup> | $225.19 | $236.11 | (5)% | $230.35 | $237.49 | (3)% |
| **Freight, per MSF** | $50.85 | $48.18 | 6% | $50.43 | $48.47 | 4% |
| **Operating Margin, per MSF** | $96.32 | $117.22 | (18)% | $106.96 | $120.44 | (11)% |
| **Operating Earnings** | $61357 | $86393 | (29)% | $221305 | $270510 | (18)% |

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<sup>(1) Net of freight per MSF.</sup>

***Three months ended December 31, 2025***

Gypsum Wallboard Revenue was $175.9 million, a 16% decrease for the three months ended December 31, 2025. Lower gross sales prices and Sales Volume reduced Revenue by approximately $5.2 million and $28.4 million, respectively. Our market share remained relatively consistent during the three months ended December 31, 2025.

Operating Earnings decreased 29% to $61.4 million, primarily because of lower gross sales prices and Sales Volume of $5.2 million and $11.7 million, as well as higher operating costs of $8.1 million. The higher operating costs were primarily related to freight, maintenance, energy, and fixed costs, which reduced Operating Earnings

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by approximately $1.7 million, $0.9 million, $0.8 million, and $3.8 million, respectively. Operating Margin decreased to 35% for the three months ended December 31, 2025, primarily because of lower gross sales prices and higher operating costs.

***Nine months ended December 31, 2025***

Gypsum Wallboard Revenue was $580.9 million, a 10% decrease for the nine months ended December 31, 2025. Lower gross sales prices and Sales Volume reduced Revenue by approximately $10.8 million and $50.6 million, respectively. Our market share remained relatively consistent during the nine months ended December 31, 2025.

Operating Earnings decreased 18% to $221.3 million, primarily because of lower gross sales prices and Sales Volume of $10.8 million and $21.3 million, respectively, as well as higher operating costs of $17.1 million. The higher operating costs were primarily related to freight, maintenance, energy, and input costs, which reduced Operating Earnings by approximately $4.2 million, $2.7 million, $2.9 million, and $3.5 million, respectively. Operating Margin decreased to 38% for the nine months ended December 31, 2025, primarily because of lower gross sales prices and higher operating costs.

**RECYCLED PAPERBOARD**

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **For the Three Months Ended December 31,** | **For the Three Months Ended December 31,** |  | **For the Nine Months Ended December 31,** | **For the Nine Months Ended December 31,** |  |
|  | **2025** | **2024** | **Percentage<br>Change** | **2025** | **2024** | **Percentage<br>Change** |
|  | (in thousands, except per ton information) | (in thousands, except per ton information) | (in thousands, except per ton information) | (in thousands, except per ton information) | (in thousands, except per ton information) |  |
| **Revenue, including<br> Intersegment** | $47838 | $56158 | (15)% | $147538 | $161175 | (8)% |
| **Less Intersegment Revenue** | (20251) | (23921) | (15)% | (61694) | (69542) | (11)% |
| **Revenue** | $27587 | $32237 | (14)% | $85844 | $91633 | (6)% |
| **Sales Volume (M Tons)** | 81 | 90 | (10)% | 253 | 266 | (5)% |
| **Average Net Sales Price,<br> per ton** <sup>(1)</sup> | $588.77 | $627.04 | (6)% | $583.87 | $606.68 | (4)% |
| **Operating Margin, per ton** | $138.84 | $122.68 | 13% | $125.55 | $103.70 | 21% |
| **Operating Earnings** | $11246 | $11041 | 2% | $31765 | $27585 | 15% |

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<sup>(1) Net of freight per ton.</sup>

***Three months ended December 31, 2025***

Recycled Paperboard Revenue decreased 15% to $47.8 million during the three months ended December 31, 2025. The decrease was due to lower sales volume and lower gross sales prices, which decreased revenue by $5.2 million and $3.1 million, respectively.

Operating Earnings increased 2% to $11.2 million, primarily because of lower operating costs, which increased Operating Earnings by $4.3 million. This was partially offset by lower gross sales prices and Sales Volume, which reduced Operating Earnings by approximately $3.1 million and $1.0 million, respectively. The decrease in operating costs was primarily related to lower input costs, namely fiber, of approximately $4.6 million, which were partially offset by higher energy costs of $0.8 million. Operating Margin increased to 24%, largely due to the decrease in operating costs. Although the Company has certain pricing provisions in its long-term sales agreements, prices are adjusted only at certain times throughout the year, so price adjustments are not always reflected in the same period as the change in costs.

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***Nine months ended December 31, 2025***

Recycled Paperboard Revenue decreased 8% to $147.5 million during the nine months ended December 31, 2025. The decrease was due to lower gross sales prices and Sales Volume, which decreased revenue by $5.8 million and $7.8 million, respectively. Lower gross sales prices were related to the pricing provisions in our long-term sales agreements.

Operating Earnings increased 15% to $31.8 million, primarily because of lower operating costs, which increased Operating Earnings by $11.3 million. This was partially offset by lower gross sales prices and Sales Volume, which reduced Operating Earnings by approximately $5.8 million and $1.3 million, respectively. The decrease in operating costs was primarily related to lower input costs, namely fiber, of approximately $13.9 million, which were partially offset by higher energy and fixed costs of $2.0 million and $0.2 million, respectively. Operating Margin increased to 22%, with the decrease in operating costs offsetting the lower gross sales prices. Although the Company has certain pricing provisions in its long-term sales agreements, prices are adjusted only at certain times throughout the year, so price adjustments are not always reflected in the same period as the change in costs.

CRITICAL ACCOUNTING POLICIES AND ESTIMATES

The preparation of financial statements in accordance with accounting principles generally accepted in the United States requires management to adopt accounting policies and make significant judgments and estimates to develop amounts disclosed in the financial statements. In many cases, alternative policies or estimation techniques could be used. We maintain a thorough process to review the application of our accounting policies and to evaluate the appropriateness of the many estimates that are required to prepare our financial statements. However, even under optimal circumstances, estimates routinely require adjustment based on changing circumstances and the receipt of new or better information.

Information regarding our Critical Accounting Policies can be found in our Annual Report on Form 10-K for the fiscal year ended March 31, 2025 (the Annual Report). The three Critical Accounting Policies that we believe are material to our financial statements, and require either the most judgment, or the selection or application of alternative accounting policies, are those related to long-lived assets, goodwill, and business combinations. Management has discussed the development and selection of these Critical Accounting Policies and estimates with the Audit Committee of our Board of Directors and with our independent registered public accounting firm. In addition, Note (A) in the Notes to Consolidated Financial Statements in our Annual Report contains a summary of our significant accounting policies.

**<u>Recent Accounting Pronouncements</u>** 

Refer to Note (A) in the Notes to Unaudited Consolidated Financial Statements of this Quarterly Report on Form 10-Q for information regarding recently issued accounting pronouncements that may affect our financial statements.

LIQUIDITY AND CAPITAL RESOURCES

At this time, we believe we have access to sufficient financial resources from our liquidity sources to fund our business and operations, including contractual obligations, capital expenditures, and debt service obligations for at least the next twelve months. We regularly monitor potential disruptions to the economy, and to our operations, particularly changing fiscal policy or economic conditions affecting our industries. Please see the Debt Financing Activities section below for a discussion of our Revolving Credit Facility and the amount of borrowings available to us in the next twelve-month period.

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**<u>Cash Flow</u>** 

The following table provides a summary of our cash flows:

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| | | |
|:---|:---|:---|
|  | **For the Nine Months Ended December 31,** | **For the Nine Months Ended December 31,** |
|  | **2025** | **2024** |
|  | (dollars in thousands) | (dollars in thousands) |
| **Net Cash Provided by Operating Activities** | $**512030** | $**485780** |
| **Investing Activities:** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;**Additions to Property, Plant, and Equipment** | (294680) | (146975) |
| &nbsp;&nbsp;&nbsp;&nbsp;**Acquisition Spending** |  | (24881) |
| **Net Cash Used in Investing Activities** | **(294680)** | **(171856)** |
| **Financing Activities:** |  |  |
| **Borrowings Under Revolving Credit Facility** | 145000 | 100000 |
| **Repayment of Borrowings Under Revolving Credit Facility** | (345000) | (185000) |
| **Repayment of Term Loan** | (11250) | (7500) |
| **Proceeds from Issuance of 5.000% Senior Unsecured Notes** | 741772 |  |
| **Payment of Debt Issuance Costs** | (6851) |  |
| **Dividends Paid to Stockholders** | (24477) | (25373) |
| **Purchase and Retirement of Common Stock** | (310282) | (201276) |
| **Payment of Excise Tax on Purchases and Retirement of Common Stock** | (2587) | (3331) |
| **Proceeds from Stock Option Exercises** | 535 | 6260 |
| **Shares Redeemed to Settle Employee Taxes on Stock Compensation** | (5612) | (1456) |
| **Net Cash Provided by (Used in) Financing Activities** | **181248** | **(317676)** |
| **Net Increase (Decrease) in Cash and Cash Equivalents** | $**398598** | $**(3752)** |

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Net Cash Provided by Operating Activities increased by $26.3 million to $512.0 million during the nine months ended December 31, 2025. This increase was primarily attributable to higher non cash activity of $28.7 million and higher cash flows from changes in Working Capital of $23.4 million. This was partially offset by lower Operating Earnings of $33.3 million.

Working Capital increased by $367.0 million to $790.6 million at December 31, 2025, compared with March 31, 2025. The increase was primarily due to higher Cash of $398.6 million and lower Accounts Payable of $5.7 million, partially offset by lower Inventories, Accounts Receivable, net, and Income Tax Receivable, net of $30.3 million, $3.8 million, and $1.9 million, respectively.

The decrease in Accounts Receivable at December 31, 2025, was primarily related to timing of collections of Accounts Receivable during the three months ended December 31, 2025, compared with the three months ended March 31, 2025. As a percentage of quarterly sales generated for the respective quarter, Accounts Receivable was approximately 38% and 45% at December 31, 2025, and March 31, 2025, respectively. Management

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measures the change in Accounts Receivable by monitoring the days sales outstanding on a monthly basis to determine if any deterioration has occurred in the collectability of the Accounts Receivable. No significant deterioration in the collectability of our Accounts Receivable was identified at December 31, 2025.

Our Inventory balance at December 31, 2025, decreased by approximately $30.3 million from our balance at March 31, 2025. Within Inventory, Raw Materials and Materials-in-Progress, Finished Cement, and Aggregates declined $23.8 million, $10.1 million, and $3.8 million, respectively. The decline in Raw Materials and Materials-in-Progress and Finished Cement is consistent with our business cycle; we generally build up clinker inventory over the winter months to meet the demand for cement in the spring and summer. The largest individual balance in our Inventory is Repair Parts. These parts are necessary given the size and complexity of our manufacturing plants, and the age of certain of our plants, which creates the need to stock a high level of Repair Parts inventory. We believe all of these repair parts are necessary, and we perform semi-annual analyses to identify obsolete parts. We have less than one year's sales of all product inventories, and our inventories have a low risk of obsolescence because our products are basic construction materials.

Net Cash Used in Investing Activities during the nine months ended December 31, 2025, was approximately $294.7 million, compared with $171.9 million during the same period in 2024. The $122.8 million increase was primarily related to the modernization and expansion of our Mountain Cement facility.

Net Cash Provided by Financing Activities was $181.2 million during the nine months ended December 31, 2025, compared with Net Cash Used in Financing Activities of $317.7 million during the same period in 2024. The $498.9 million increase was mainly related to higher borrowings, net of repayments, of $623.0 million, partially offset by higher Purchase and Retirement of Common Stock and Shares Redeemed to Settle Employee Taxes of $109.0 million and $4.1 million, respectively.

Our debt-to-capitalization ratio and net-debt-to-capitalization ratio were 54.4% and 47.8%, respectively, at December 31, 2025, compared with 46.1% and 45.7%, respectively, at March 31, 2025.

**<u>Debt Financing Activities</u>** 

Below is a summary of the Company's outstanding debt facilities at December 31, 2025:

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| | |
|:---|:---|
|  | **Maturity** |
| **Revolving Credit Facility** | February 2030 |
| **Term Loan** | February 2030 |
| **2.500% Senior Unsecured Notes** | July 2031 |
| **5.000% Senior Unsecured Notes** | March 2036 |

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See Note (M) in the Notes to Unaudited Consolidated Financial Statements for further details on the Company's debt facilities, including interest rate, and financial and other covenants and restrictions.

The revolving borrowing capacity of our Revolving Credit Facility is $750.0 million (any revolving loans borrowed under the Revolving Credit Facility, as applicable, the Revolving Loans). The Revolving Credit Facility also includes a swingline loan sublimit of $25.0 million and a $40.0 million letter of credit facility. At December 31, 2025, we had no outstanding Revolving Loans under the Revolving Credit Facility and $9.9 million of letters of credit outstanding, leaving us with $740.1 million of available borrowings under the Revolving Credit Facility, net of the letters of credit outstanding. We are contingently liable for performance under $48.5 million in performance bonds relating primarily to our mining operations. We do not have any off-balance sheet debt or any outstanding debt guarantees.

Other than the Revolving Credit Facility, we have no additional source of committed external financing in place. Should the Revolving Credit Facility be terminated, no assurance can be given as to our ability to secure a new

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source of financing. Consequently, if any balance were outstanding on the Revolving Credit Facility at the time of termination, and an alternative source of financing could not be secured, it would have a material adverse impact on our business.

We believe our cash flow from operations and available borrowings under our Revolving Credit Facility, as well as cash on hand, should be sufficient to meet our currently anticipated operating needs, capital expenditures, and dividend and debt service requirements for at least the next 12 months. However, our future liquidity and capital requirements may vary depending on several factors, including market conditions in the construction industry, our ability to maintain compliance with covenants in our Revolving Credit Facility, the level of competition, and general and economic factors beyond our control, such as supply chain constraints and inflation. These and other developments could reduce our cash flow or require that we seek additional sources of funding. We cannot predict what effect these factors will have on our future liquidity. See the Market Conditions and Outlook section above for further discussion of the possible effects on our business.

As market conditions warrant, the Company may from time to time seek to purchase or repay its outstanding debt securities or loans, including the 2.500% Senior Unsecured Notes, 5.000% Senior Unsecured Notes, Term Loan, and borrowings under the Revolving Credit Facility, in privately negotiated or open market transactions, by tender offer or otherwise. Subject to any applicable limitations contained in the agreements governing our indebtedness, any purchases the Company makes may be funded by using cash on our balance sheet or issuing new debt. The amounts involved in any such purchase transactions, individually or in aggregate, may be material.

We had approximately $37.6 million of lease liabilities at December 31, 2025, with an average remaining life of approximately 11.8 years.

**<u>Dividends</u>**

Dividends paid were $24.5 million and $25.4 million for the nine months ended December 31, 2025, and 2024, respectively. Each quarterly dividend payment is subject to review and approval by our Board of Directors, who will continue to evaluate our dividend payment amount on a quarterly basis.

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**<u>Share Repurchases</u>**

During the nine months ended December 31, 2025, our share repurchases were as follows:

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| | | | | |
|:---|:---|:---|:---|:---|
| **Period** | **Total Number of<br>Shares Purchased** | **Average Price Paid<br>Per Share** | **Total Number of<br>Shares Purchased<br>as Part of Publicly<br>Announced Plans<br>or Programs** | **Maximum Number<br>of Shares that May<br>Yet Be Purchased<br>Under the Plans<br>or Programs** |
| **April 1 through April 30, 2025** | 159581 | $219.08 |  |  |
| **May 1 through May 31, 2025** | 135000 | 229.65 |  |  |
| **June 1 through June 30, 2025** | 63357 | 199.75 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;**Quarter 1 Totals** | **357938** | $**219.64** |  |  |
| **July 1 through July 31, 2025** | 155500 | $217.65 |  |  |
| **August 1 through August 31, 2025** | 135000 | 228.89 |  |  |
| **September 1 through September 30, 2025** | 105000 | 231.76 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;**Quarter 2 Totals** | **395500** | $**225.24** |  |  |
| **October 1 through October 31, 2025** | 168515 | $234.71 |  |  |
| **November 1 through November 30, 2025** | 220000 | 207.31 |  |  |
| **December 1 through December 31, 2025** | 259933 | 220.95 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;**Quarter 3 Totals** | **648448** | $**219.90** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;**Year-to-Date Totals** | **1401886** | $**221.34** |  | **3267611** |

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On May 17, 2022, the Board of Directors authorized us to repurchase an additional 7.5 million shares. This authorization brought the cumulative total of common stock our Board has approved for repurchase in the open market to 55.9 million shares since we became publicly held in April 1994. Through December 31, 2025, we have repurchased approximately 52.6 million shares.

Share repurchases may be made from time to time in the open market or in privately negotiated transactions. The timing and amount of any share repurchases are determined by management, based on its evaluation of market and economic conditions and other factors. In some cases, repurchases may be made pursuant to plans, programs, or directions established from time to time by the Company's management, including plans intended to comply with the safe-harbor provided by Rule 10b5-1.

During the nine months ended December 31, 2025, the Company withheld from employees 23,968 shares of stock upon the vesting of Restricted Shares that were granted under the 2023 Plan. We withheld these shares to satisfy the employees' statutory tax withholding requirements, which is necessary once the Restricted Shares or Restricted Share Units are vested.

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**<u>Capital Expenditures</u>**

The following table details capital expenditures by category:

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| | | |
|:---|:---|:---|
|  | **For the Nine Months Ended December 31,** | **For the Nine Months Ended December 31,** |
|  | **2025** | **2024** |
|  | (dollars in thousands) | (dollars in thousands) |
| **Land and Quarries** | $5862 | $5758 |
| **Plants** | 249091 | 91100 |
| **Buildings, Machinery, and Equipment** | 39727 | 50117 |
| &nbsp;&nbsp;**Total Capital Expenditures** | $**294680** | $**146975** |

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Capital expenditures for fiscal 2026 are expected to range from $430.0 million to $450.0 million, allocated across both Heavy Materials and Light Materials sectors. These estimated capital expenditures will include the expansion and modernization of our Mountain Cement facility in Wyoming, the modernization of our gypsum wallboard plant in Oklahoma, and maintenance capital expenditures and improvements, as well as other safety and regulatory projects.

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FORWARD-LOOKING STATEMENTS

Certain matters discussed in this report contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the context of the statement and generally arise when the Company is discussing its beliefs, estimates or expectations as to future events. These statements are not historical facts or guarantees of future performance but instead represent only the Company's belief at the time the statements were made regarding future events which are subject to certain risks, uncertainties and other factors, many of which are outside the Company's control. Actual results and outcomes may differ materially from what is expressed or forecast in such forward-looking statements. The principal risks and uncertainties that may affect the Company's actual performance include the following: the cyclical and seasonal nature of the Company's businesses; fluctuations in public infrastructure expenditures; the effects of adverse weather conditions on infrastructure and other construction projects as well as our facilities and operations; the fact that our products are commodities and that prices for our products are subject to material fluctuation due to market conditions and other factors beyond our control; the availability of and fluctuations in the cost of raw materials; changes in the costs of energy, including, without limitation, natural gas, coal and oil (including diesel), and the nature of our obligations to counterparties under energy supply contracts, such as those related to market conditions (for example, spot market prices), governmental orders and other matters; changes in the cost and availability of transportation; unexpected operational difficulties, including unexpected maintenance costs, equipment downtime and interruption of production; material nonpayment or non-performance by any of our key customers; consolidation of our customers; interruptions in our supply chain; inability to timely execute or realize capacity expansions or efficiency gains from capital improvement projects; difficulties and delays in the development of new business lines; governmental regulation and changes in governmental and public policy (including, without limitation, climate change and other environmental regulation); changes in trade policy, including tariffs and the effects of any increases in tariffs on our business, including increases in inputs used in our facility expansion and modernization projects; possible losses or other adverse outcomes from pending or future litigation or arbitration proceedings; changes in economic conditions or the nature or level of activity in any one or more of the markets or industries in which the Company or its customers are engaged; competition; cyber-attacks or data security breaches, together with the costs of protecting our systems against such incidents and the possible effects thereof on our operations; increases in capacity in the gypsum wallboard and cement industries; changes in the demand for residential housing construction or commercial construction or construction projects undertaken by state or local governments; the availability of acquisitions or other growth opportunities that meet our financial return standards and fit our strategic focus; risks related to pursuit of acquisitions, joint ventures and other transactions or the execution or implementation of such transactions, including the integration of operations acquired by the Company; general economic conditions, including inflation and recessionary conditions; and changes in interest rates and the resulting effects on the Company and demand for our products. For example, increases in interest rates, decreases in demand for construction materials or increases in the cost of energy (including, without limitation, natural gas, coal and oil) or the cost of our raw materials can be expected to adversely affect the revenue and operating earnings of our operations. In addition, changes in national or regional economic conditions and levels of infrastructure and construction spending could also adversely affect the Company's results of operations. Finally, any forward-looking statements made by the Company are subject to the risks and impacts associated with natural disasters, the outbreak, escalation or resurgence of health emergencies, pandemics or other unforeseen events, including, without limitation, the COVID-19 pandemic and responses thereto designed to contain its spread and mitigate its public health effects, as well as their impact on our operations and on economic conditions, capital and financial markets. These and other factors are described in the Company's Annual Report on Form 10-K for the fiscal year ended March 31, 2025, on file with the Securities and Exchange Commission. All forward-looking statements made herein are made as of the date hereof, and the risk that actual results will differ materially from expectations expressed herein will increase with the passage of time. The Company undertakes no duty to update any forward-looking statement to reflect future events or changes in the Company's expectations.

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**ITEM 3. Quantitative and Qualitative Disclosures About Market Risk** 

We are exposed to market risks related to fluctuations in interest rates on our Revolving Credit Facility and Term Loan. We have occasionally utilized derivative instruments, including interest rate swaps, in conjunction with our overall strategy to manage the debt outstanding that is subject to interest rate changes. We had a $750.0 million Revolving Credit Facility at December 31, 2025, under which borrowings bear interest at a variable rate. A hypothetical 100 basis point increase in interest rates on the $285.0 million of borrowings under the Term Loan at December 31, 2025, would increase interest expense by approximately $2.9 million on an annual basis. At present, we do not utilize derivative financial instruments.

We are subject to commodity risk with respect to price changes principally in coal, coke, natural gas, and power. We attempt to limit our exposure to changes in commodity prices by entering into contracts or increasing our use of alternative fuels.

**ITEM 4. Controls and Procedures** 

We have established a system of disclosure controls and procedures that are designed to ensure that information relating to the Company, which is required to be disclosed by us in the reports that we file or submit under the Securities Exchange Act of 1934 (Exchange Act), is recorded, processed, summarized, and reported within the time periods specified by the SEC's rules and forms, and that such information is accumulated and communicated to management, including our Chief Executive Officer (CEO) and Chief Financial Officer (CFO), in a timely fashion. An evaluation of the effectiveness of the design and operation of our disclosure controls and procedures (as defined in Rule 13a-15(e) under the Exchange Act) was performed as of the end of the period covered by this quarterly report. This evaluation was performed under the supervision and with the participation of management, including our CEO and CFO. Based upon that evaluation, our CEO and CFO have concluded that these disclosure controls and procedures were effective.

We are currently undertaking a significant multi-year ERP implementation to upgrade our information technology platforms and business processes. The ERP implementation is occurring in phases over several years, which began in fiscal 2025 with the implementation at Corporate. During the three months ended September 30, 2025, we implemented the ERP at our Gypsum Wallboard and Recycled Paperboard segments.

As a result of this multi-year implementation, we expect certain changes to our processes and procedures, which, in turn, will result in changes to our internal control over financial reporting. While we expect this implementation to strengthen our internal control over financial reporting by automating certain manual processes and standardizing business processes and reporting across our organization, we will continue to evaluate and monitor our internal control over financial reporting as processes and procedures in the affected areas evolve.

There have been no changes in our internal control over financial reporting (as defined in Rules 13a-15(f) and 15d-15(f) under the Exchange Act) that occurred during the three months ended December 31, 2025 that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

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**PART II. OTHER INFORMATION** 

**ITEM 1. Legal Proceedings** 

In addition to the legal matters described in Part 1, Item 3 "Legal Proceedings" of our Form 10-K for the fiscal year ended March 31, 2025, from time to time, we have been and may in the future become involved in litigation or other legal proceedings in the ordinary course of our business activities or in connection with transactions or activities undertaken by us, including claims related to worker safety, worker health, environmental matters, commercial contracts, product liability, personal injury, land use rights, taxes, and permits. While the outcome of these proceedings cannot be predicted with certainty, in the opinion of management (based on currently available facts), we do not believe that the ultimate outcome of any currently pending legal proceeding will have a material effect on our consolidated financial condition, results of operations, or liquidity.

For additional information regarding claims and other contingent liabilities to which we may be subject, see Note (P) to the Unaudited Consolidated Financial Statements.

**ITEM 1A. Risk Factors**

For information regarding factors that could affect our results of operations, financial condition, and liquidity, see Part 1. Item 1A. Risk Factors in our Form 10-K for the fiscal year ended March 31, 2025, filed with the Securities and Exchange Commission on May 20, 2025.

**ITEM 2. Unregistered Sales of Equity Securities and Use of Proceeds** 

The disclosure required under this Item is included in "Management's Discussion and Analysis of Results of Operations and Financial Condition" of this Quarterly Report on Form 10-Q under the heading "Share Repurchases" and is incorporated herein by reference.

**ITEM 4. Mine Safety Disclosures** 

The information concerning mine safety violations or other regulatory matters required by Section 1503 (a) of the Dodd-Frank Wall Street Reform and Consumer Protection Act and Item 104 of Regulation S-K is included in Exhibit 95 to this Quarterly Report Form 10-Q.

**ITEM 5. Other Information**

None of the Company's directors or officers adopted, modified, or terminated a Rule 10b5-1 trading arrangement, or a non-Rule 10b5-1 trading arrangement during the Company's fiscal quarter ended December 31, 2025.

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**ITEM 6. Exhibits** 

---

| | |
|:---|:---|
| 3.1 | [Restated Certificate of Incorporation filed as Exhibit 3.1 to the Company's Current Report on Form 8-K filed with the Commission on April 11, 2006 (File No. 001-12984) and incorporated herein by reference.](https://www.sec.gov/Archives/edgar/data/918646/000095013406007120/d34975exv3w1.htm) |
| 3.2 | [Certificate of Amendment of Restated Certificate of Incorporation of Eagle Materials Inc., filed as Exhibit 3.1 to the Company's Current Report on Form 8-K filed with the Commission on August 7, 2024 (File No. 001-12984) and incorporated herein by reference.](https://www.sec.gov/Archives/edgar/data/918646/000119312524195946/d877046dex31.htm) |
| 3.3 | [Restated Certificate of Designation, Preferences and Rights of Series A Preferred Stock filed as Exhibit 3.2 to the Company's Current Report on Form 8-K filed with the Commission on April 11, 2006 (File No. 001-12984) and incorporated herein by reference.](https://www.sec.gov/Archives/edgar/data/918646/000095013406007120/d34975exv3w2.htm) |
| 3.4 | [Second Amended and Restated Bylaws filed as Exhibit 3.1 to the Company's Current Report on Form 8-K, filed with the Commission on November 7, 2022 (File No. 001-12984) and incorporated herein by reference.](https://www.sec.gov/Archives/edgar/data/918646/000119312522279133/d385636dex31.htm) |
| 4.1 | [Third Supplemental Indenture, dated as of November 13, 2025, between Eagle Materials Inc. and The Bank of New York Mellon Trust Company N.A., filed as Exhibit 4.2 to the Company's Current Report on Form 8-K filed with the Commission on November 13, 2025 (File No. 001-12984) and incorporated herein by reference.](https://www.sec.gov/Archives/edgar/data/918646/000119312525280206/d911833dex42.htm) |
| 4.2 | [Form of 5.000% Senior Notes due 2036, files as Exhibit 4.3 (included in Exhibit 4.2) to the Company's Current Report on Form 8-K filed with the Commission on November 13, 2025 (File No. 001-12984) and incorporated herein by reference.](https://www.sec.gov/Archives/edgar/data/918646/000119312525280206/d911833dex42.htm) |
| 10.1\* | [Amended and Restated Retirement Plan. <sup>(1)</sup>](exp-ex10_1.htm) |
| 31.1\* | [Certification of the Chief Executive Officer of Eagle Materials Inc. pursuant to Rules 13a-14 and 15d-14 promulgated under the Securities Exchange Act of 1934, as amended.](exp-ex31_1.htm) |
| 31.2\* | [Certification of the Chief Financial Officer of Eagle Materials Inc. pursuant to Rules 13a-14 and 15d-14 promulgated under the Securities Exchange Act of 1934, as amended.](exp-ex31_2.htm) |
| 32.1\* | [Certification of the Chief Executive Officer of Eagle Materials Inc. pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.](exp-ex32_1.htm) |
| 32.2\* | [Certification of the Chief Financial Officer of Eagle Materials Inc. pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.](exp-ex32_2.htm) |
| 95\* | [Mine Safety Disclosure.](exp-ex95.htm) |
| 101.INS\* | Inline XBRL Instance Document – The instance document does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document. |
| 101.SCH\* | Inline XBRL Taxonomy Extension Schema Document with Embedded Linkbase Documents. |
| 104.1\* | Cover Page Interactive Data File – (formatted as Inline XBRL and Contained in Exhibit 101). |

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\* Filed herewith.

<sup>(1)</sup> Management contract, compensatory plan, or arrangement.

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**SIGNATURES** 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

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| | |
|:---|:---|
|  | EAGLE MATERIALS INC. |
|  | Registrant |
| January 29, 2026 | /s/ MICHAEL R. HAACK |
|  | Michael R. Haack<br>President and Chief Executive Officer<br>(principal executive officer) |
| January 29, 2026 | /s/ D. CRAIG KESLER |
|  | D. Craig Kesler<br>Executive Vice President – Finance and<br>Administration and Chief Financial Officer<br>(principal financial officer) |

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| | |
|:---|:---|
| January 29, 2026 | /s/ WILLIAM R. DEVLIN |
|  | William R. Devlin<br>Senior Vice President – Controller and<br>Chief Accounting Officer<br>(principal accounting officer) |

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## Exhibit 10.1

EXHIBIT 10.1

**EXECUTION VERSION**

**EAGLE MATERIALS INC. RETIREMENT PLAN**

(As Amended and Restated January 1, 2026)

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**EAGLE MATERIALS INC. RETIREMENT PLAN**

(As Amended and Restated Effective January 1, 2026)

**Table of Contents**

**Page**

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|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ARTICLE I  | DEFINITIONS | 3 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ARTICLE II  | ADMINISTRATION OF THE PLAN | 14 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1 | Allocation of Responsibility Among Fiduciaries for Plan and Trust Administration | 14 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.2 | Committee | 14 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.3 | Records and Reports | 15 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.4 | Other Committee Powers and Duties | 15 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.5 | Rules and Decisions | 16 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.6 | Committee Procedure | 16 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.7 | Authorization of Benefit Payments | 16 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.8 | Payment of Expenses | 17 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.9 | Application and Forms for Benefits | 17 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.10 | Committee Liability | 17 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.11 | Statements | 17 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.12 | Annual Audit | 17 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.13 | Investment Policy | 18 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.14 | Allocation and Delegation of Committee Responsibilities | 18 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ARTICLE III | PARTICIPATION AND SERVICE | 19 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.1 | Eligibility for Participation | 19 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.2 | Merged Plans | 19 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.3 | Notification of Eligible Employees | 20 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.4 | Applications by Employees | 20 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.5 | Years of Service for Participation | 20 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.6 | Years of Vesting Service | 21 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.7 | Transferred Participants | 21 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.8 | Beneficiary Upon Death | 22 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.9 | Qualified Election | 23 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.10 | Qualified Military Service | 23 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ARTICLE IV | CONTRIBUTIONS AND FORFEITURES | 25 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.1 | Pre-Tax Contributions | 25 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.2 | Employer Profit Sharing Contributions | 27 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.3 | Roth Contributions | 28 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.4 | After-Tax Contributions | 29 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.5 | Qualified Non-Elective Contributions | 30 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.6 | Payment and Deductions of Pre-Tax, Roth and After-Tax Contributions | 30 |

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| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.7 | Contributions to be Tax Deductible | 30 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.8 | Change of Elections and Suspension of Allotments | 30 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.9 | Application of Funds | 30 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.10 | Disposition of Forfeitures | 31 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.11 | Rollover Contributions | 31 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.12 | Refunds to Employer | 33 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ARTICLE V | PARTICIPANT ACCOUNTS | 34 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.1 | Individual Accounts | 34 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.2 | Account Allocations and Adjustments | 34 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.3 | Limitations on Contributions | 35 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.4 | Valuation of Trust Fund | 39 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.5 | Recognition of Different Funds | 39 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ARTICLE VI | VOLUNTARY WITHDRAWALS | 40 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.1 | Withdrawal from After-Tax Contribution Account | 40 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.2 | Withdrawal from Pre-Tax Contribution Account and Roth Contribution Account | 40 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.3 | Withdrawal from Employer Profit Sharing Account for Salaried Participants | 40 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.4 | Hardship Withdrawals | 41 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.5 | Rollover Account | 43 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.6 | In-Service Withdrawal of Vested Account Balance | 43 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.7 | Loans to Participants | 43 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.8 | Qualified Reservists Withdrawal | 44 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.9 | Coronavirus-Related Distribution | 44 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ARTICLE VII PARTICIPANTS' BENEFITS | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ARTICLE VII PARTICIPANTS' BENEFITS | 46 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.1 | Normal Retirement Date | 46 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.2 | Disability of Participants | 46 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.3 | Death of Participants | 46 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.4 | Other Termination of Service | 46 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.5 | Valuation Dates Determinative of Participant's Rights | 50 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.6 | In-Service Distributions | 50 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ARTICLE VIII PAYMENT OF BENEFITS | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ARTICLE VIII PAYMENT OF BENEFITS | 51 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.1 | Time of Payment | 51 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.2 | Method of Payment | 52 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.3 | Deferral of Payments in the Case of Non-Employee and Non-Eligible Employee Participants | 53 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.4 | Cash Out or Automatic Rollover of Vested Account Balance | 53 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.5 | Direct Rollover Distributions | 54 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.6 | Non-Spouse Beneficiary Rollovers | 55 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.7 | Required Minimum Distributions | 56 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.8 | Election to Commence Benefits | 60 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.9 | Claims for Benefits | 60 |

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| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.10 | Claims Review Procedure | 60 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.11 | Disputed Benefits | 61 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.12 | Legal Actions | 61 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.13 | Optional Forms of Benefits | 61 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ARTICLE IX | TRUST AGREEMENT; INVESTMENT FUNDS; COMPANY STOCK FUND; INVESTMENT DIRECTIONS | 62 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.1 | Trust Agreement | 62 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.2 | Investment Funds and Company Stock Fund | 62 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.3 | Investment Directions of Participants | 62 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.4 | Change of Investment Directions | 62 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.5 | Benefits Paid Solely from Trust Fund | 63 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.6 | Committee Directions to Trustee | 63 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.7 | Authority to Designate Investment Manager | 63 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.8 | Voting of Company Stock | 63 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.9 | Voting of Investment Funds | 63 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ARTICLE X  | ADOPTION OF PLAN BY OTHER ORGANIZATIONS; SEPARATION OF THE TRUST FUND; AMENDMENT AND TERMINATION OF THE PLAN; DISCONTINUANCE OF CONTRIBUTIONS TO THE TRUST FUND | 64 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.1 | Adoptive Instrument | 64 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.2 | Separation of the Trust Fund | 64 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.3 | Voluntary Separation | 65 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.4 | Amendment of the Plan | 65 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.5 | Acceptance of Amendment by Employers | 66 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.6 | Termination of the Plan | 66 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.7 | Liquidation and Distribution of Trust Fund Upon Termination | 67 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.8 | Effect of Termination or Discontinuance of Contributions | 68 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.9 | Merger of Plan with Another Plan | 68 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.10 | Consolidation or Merger with Another Employer | 68 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ARTICLE XI | MISCELLANEOUS PROVISIONS | 69 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.1 | Terms of Employment | 69 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.2 | Controlling Law | 69 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.3 | Invalidity of Particular Provisions | 69 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.4 | Non-Alienation of Benefits | 69 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.5 | Payments in Satisfaction of Claims of Participants | 69 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.6 | Payments Due Minors and Incompetents | 70 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.7 | Impossibility of Diversion of Trust Fund | 70 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.8 | Litigation Against the Trust | 70 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.9 | Evidence Furnished Conclusive | 70 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.10 | Copy Available to Participants | 70 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.11 | Unclaimed Benefits | 71 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.12 | Headings for Convenience Only | 71 |

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| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.13 | Successors and Assigns | 71 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ARTICLE XII | TOP-HEAVY PLAN REQUIREMENTS | 72 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.1 | General Rule | 72 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.2 | Vesting Provisions | 72 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.3 | Minimum Contribution Percentage | 72 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.4 | Limitation on Compensation | 73 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.5 | Coordination with Other Plans | 73 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.6 | Distributions to Certain Key Employees | 74 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.7 | Determination of Top-Heavy Status | 74 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ARTICLE XIII TESTING OF CONTRIBUTIONS | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ARTICLE XIII TESTING OF CONTRIBUTIONS | 78 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13.1 | Definitions | 78 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13.2 | Actual Deferral Percentage Test | 81 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13.3 | QNECs and QMACs | 81 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13.4 | Excess Contributions | 81 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13.5 | Actual Contribution Percentage Test | 83 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13.6 | Excess Aggregate Contributions | 83 |

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APPENDIX A Employer Matching Contributions

APPENDIX B Prior Wildcat Plan Accounts

APPENDIX C Participating Employers

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**EAGLE MATERIALS INC. RETIREMENT PLAN**<br>(As Amended and Restated Effective January 1, 2026)

<u>RECITALS</u>

WHEREAS, Eagle Materials Inc. (the "***Company***"), to aid eligible hourly compensated employees accumulate retirement savings for their future economic security, adopted the Eagle Materials Inc. Hourly Profit Sharing Plan (the "***Hourly Plan***"), effective April 1, 1994, which is intended to constitute a qualified cash or deferred arrangement and profit sharing plan within the meaning of sections 401(a) and 401(k) of the Internal Revenue Code of 1986, as amended from time to time (the "***Code***").

WHEREAS, the Company has previously amended and amended and restated the Hourly Plan on a number of occasions to reflect various law and design changes, with the most recent amendment and restatement of the Hourly Plan effective January 1, 2014.

WHEREAS, the Company, to aid eligible salaried compensated employees accumulate retirement savings for their future economic security, adopted the Profit Sharing and Retirement Plan of Eagle Materials Inc. (the "***Salaried Plan***"), effective April 1, 1994, which is intended to constitute a qualified cash or deferred arrangement and profit sharing plan within the meaning of sections 401(a) and 401(k) of the Code.

WHEREAS, the Company has previously amended and amended and restated the Salaried Plan on a number of occasions to reflect various law and design changes, with the most recent amendment and restatement of the Salaried Plan effective January 1, 2014.

WHEREAS, effective January 1, 2019, the Board of Directors of the Company authorized (i) the merger of the Salaried Plan, as amended and in effect on December 31, 2018, with and into the Hourly Plan, as amended and in effect on December 31, 2018, with the merged plans maintained as a "single plan" within the meaning of Code Section 414(l) and the Hourly Plan, as amended and restated, being the surviving plan for all legal purposes, including reporting and disclosure under ERISA, and renamed the Eagle Materials Inc. Retirement Plan (the "***Plan***"), and all assets of the Plan are available to pay the benefits of all Participants and Beneficiaries in the Plan, and the Plan shall preserve certain benefits, rights and features of the Hourly Plan and Salaried Plan and incorporate all prior amendments; (ii) Roth 401(k) contributions; (iii) automatic enrollment of newly hired and rehired employees on and after January 1, 2019; (iv) a change to the vesting requirements for profit sharing contributions for plan years beginning after December 31, 2018 (subject to the requirements of Section 411 of the Code); and (v) certain other administrative and conforming changes.

WHEREAS, the Plan and underlying trust are intended to meet the requirements of Code Sections 401(a), 401(k) and 501(a) and the Employee Retirement Income Security Act of 1974, as either may be amended from time to time.

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WHEREAS, effective January 1, 2026, the Board of Directors of the Company authorized the amendment and restatement of the Plan in order to (i) incorporate all prior amendments, (ii) add a Roth catch-up contribution feature as required by the SECURE 2.0 Act of 2022, (iii) provide for Employer Matching Contributions on Roth Contributions, and (iv) clarify certain provisions of the Plan.

WHEREAS, the provisions of the Plan shall apply to a Participant who continues his Service after the Effective Date.

NOW, THEREFORE, the Company hereby amends and restates the Plan, effective as of January 1, 2026, to read as follows.

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# <u>ARTICLE I</u> <br><u>DEFINITIONS</u> 
As used in the Plan, the following words and phrases shall have the following meanings unless the context clearly requires a different meaning:

<u>Account</u>. Any of the accounts and subaccounts maintained for a Participant pursuant to Section 5.1, or all such accounts and subaccounts collectively, as the context requires.

<u>Affiliate</u>. A corporation or other trade or business which is not an Employer under the Plan but which, together with the Company, is "under common control" within the meaning of Code Section 414(b) or (c); any organization (whether or not incorporated) which together with the Company, is a member of an "affiliated service group" within the meaning of Code Section 414(m); and any other entity required to be aggregated with the Company pursuant to regulations under Code Section 414(o).

<u>After-Tax Contribution</u>. An after-tax amount contributed to the Trust Fund by a Participant that is an Employee from his Compensation pursuant to Section 4.4.

<u>After-Tax Contribution Account</u>. The Account maintained for a Participant to record his After-Tax Contributions and adjustments relating thereto.

<u>Beneficiary</u>. A Participant's surviving Spouse, or if no surviving Spouse exists or if a qualified election has been made pursuant to Section 3.9, such other natural person or persons, or the trustee of an *inter vivos* trust for the benefit of natural persons, entitled to benefits hereunder following a Participant's death.

<u>Board</u>. The board of directors of the Company.

<u>Break in Service</u>. Any Plan Year during which an Employee or Participant does not complete more than 500 Hours of Service with all the Employers and Affiliates, determined as of the end of the Plan Year.

<u>Catch-Up Contribution</u>. A type of Pre-Tax Contribution made pursuant to Section 4.1 in accordance with, and subject to the limitations of, Code Section 414(v).

<u>Code</u>. The Internal Revenue Code of 1986, as amended from time to time.

<u>Commissioned Sales Employees</u>. Employees who are paid on the basis of commissions and not in fixed amounts at regular intervals. If an Employee is paid on the basis of commissions or is in a position designated as one paid on the basis of commissions, then such Employee shall be considered a Commissioned Sales Employee under this section even if such Employee is paid a forgiven draw or otherwise is paid a fixed amount at regular intervals for a period of 6 months or less; *provided, however,* that any such Employee who is reassigned to a position which is not paid, or is not designated to be paid, on the basis of commissions, shall not

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be considered a Commissioned Sales Employee while in any such position. An Employee who is paid in fixed amounts at regular intervals for more than 6 months shall not be considered a Commissioned Sales Employee for the period following such 6-month period until the Employee is again paid on the basis of commissions. An Employee who is in a position designated as one paid in fixed amounts at regular intervals shall not be considered a Commissioned Sales Employee even if such Employee is also eligible for bonuses based on sales or performance targets or for commissions.

<u>Committee</u>. The Administrative Committee as described in Section 2.2 and, in regard to any provision of the Plan under which an agent has been appointed by the Administrative Committee pursuant to Article II to administer such provision of the Plan, such agent. Where applicable, "Committee" shall include any designee thereof.

<u>Company</u>. Eagle Materials Inc., a Delaware corporation, and its successors.

<u>Company Stock</u>. The common stock of the Company.

<u>Company Stock Fund</u>. The investment fund established to hold and invest primarily in shares of Company Stock.

<u>Compensation</u>. All salaries and wages that are paid for personal services rendered in the course of employment with the Employer, including, but not limited to, commissions paid to salespeople, compensation for services on the basis of a percentage of profits, commissions on insurance premiums, tips, bonuses or other special pay payable in cash, and including foreign earned income (other than foreign service premium hardship allowance or non-incentive types of payments for foreign employment), any amounts that would otherwise be included in Compensation but which are deferred pursuant to a Participant's election under a deferred compensation plan sponsored by an Employer and any amounts by which his normal remuneration is reduced pursuant to a voluntary salary reduction plan qualified under Section 125 of the Code, by the amount of any qualified transportation fringe benefit under Section 132(f)(4) of the Code or cash or deferred arrangement under Section 401(k) of the Code, *but excluding*: (i) amounts realized from the exercise of a non-qualified stock option, or amounts realized from the sale, exchange or other distribution of stock under an incentive stock option; (ii) amounts that receive special tax benefits; (iii) awards, prizes, employer or employee discounts; (iii) reimbursements or advances for travel, automobile allowances, or any other expense incurred, (iv) any form of insurance, including, but not limited to, life, health, accident or disability; (v) contractual bonuses, bonuses by formula, discretionary bonuses; and (vi) amounts advanced or drawn by sales people to be charged against sales commissions earned.

For purposes of determining contributions or allocations under the Plan, Compensation attributable to periods during a Plan Year in which the Employee was not an Eligible Employee shall not be taken into account.

Compensation taken into account under the Plan for any Plan Year shall not exceed $350,000, as adjusted for cost-of-living increases pursuant to Code Section 401(a)(17)(B), but shall not be limited to the earliest payments made to or on behalf of a Participant with respect to a

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Plan Year. If an Employee is employed by more than one Employer, his Compensation shall be the aggregate compensation received from the Employers.

<u>Contribution</u>. Any amount contributed to the Trust Fund pursuant to the provisions of the Plan by an Employer or by a Participant in the form of an After-Tax Contribution, Pre-Tax Contribution, Employer Profit Sharing Contribution, Employer Matching Contribution or Roth Contribution.

<u>Default Investment Fund</u>. An Investment Fund or Funds, specified by the Committee from time to time, that satisfies the requirements of a "qualified default investment alternative" under the regulations and other guidance issued by the Department of Labor under ERISA Sections 404(c) and 514(e).

<u>Effective Date</u>. January 1, 2026, except (i) as otherwise provided in specific provisions of the Plan and (ii) that provisions of the Plan required to have an earlier effective date by application of statute and/or regulation shall be effective as of the required effective date in such statute and/or regulation.

<u>Eligible Employee</u>. Except as otherwise provided below, an Employee who is a regular Hourly Employee or a regular Salaried Employee (including a part-time employee). Notwithstanding anything herein to the contrary, the term "Eligible Employee" excludes any person who (i) performs services for an Employer pursuant to an arrangement wherein the person is designated, compensated or otherwise classified or treated by the Employer as a consultant, independent contractor, leased employee, summer labor or intern, (ii) is a Leased Employee, or (iii) is a non-resident alien without U.S. source income. For purposes of making and allocating Pre-Tax Contributions and Roth Contributions and for purposes of Rollover Contributions hereunder, but not for making or allocating any other type of Contribution or allocating any Forfeitures hereunder, the term "Eligible Employee" shall include Employees who are Commissioned Sales Employees.

<u>Employee</u>. Any person who, on or after the Effective Date, is receiving remuneration for personal services (or would be receiving such remuneration except for Leave of Absence) as an employee of an Employer, including Leased Employees.

<u>Employer</u>. The Company and any organization that has adopted the Plan pursuant to the provisions of Article X, and the successors, if any, to such organization, as listed on *Appendix C* (Participating Employers List), which *Appendix C* may be amended by the Committee to reflect the addition or removal of an Employer.

<u>Employer Contributions</u>. Any amount contributed to the Trust Fund pursuant to the provisions of the Plan by an Employer in the form of an Employer Matching Contributions or an Employer Profit Sharing Contribution.

<u>Employer Matching Contribution Account</u>. An Account maintained for a Participant to record his Employer Matching Contributions and adjustments relating thereto.

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<u>Employer Matching Contribution</u>. Any amount contributed to the Trust Fund by the Employer pursuant to *Appendix A*.

<u>Employer Profit Sharing Account</u>. An Account maintained for a Participant to record his Employer Profit Sharing Contributions and adjustments relating thereto.

<u>Employer Profit Sharing Contribution</u>. Any amount contributed to the Trust Fund by the Employer pursuant to Section 5.2.

<u>Employment Commencement Date</u>. The date upon which an Employee first performs an Hour of Service for the Employer.

<u>Entry Date</u>. For purposes of Employer Profit Sharing Contributions, the first January 1 or July 1 coincident with or next following an Eligible Employee's Employment Commencement Date.

<u>ERISA</u>. The Employee Retirement Income Security Act of 1974, as amended from time to time.

<u>Fiduciary</u>. The Committee, the Trustee, and any other person designated as a Fiduciary with respect to the Plan or the Trust Agreement, but only with respect to the specific responsibilities of each as described in Article II.

<u>Forfeiture</u>. The portion of a Participant's Employer Profit Sharing Account or Employer Matching Contribution Account that is forfeited because of termination of Service before full vesting pursuant to Article VII.

<u>Frozen Matching Contribution Account</u>. The frozen Account maintained for a Salaried Participant who was previously eligible to receive matching contributions and adjustments relating thereto.

<u>Hour of Service</u>. Each hour for which an Employee or Participant is either directly or indirectly paid or entitled to payment by the Employer or an Affiliate for the performance of duties or for reasons (such as vacation, holiday, sickness, incapacity, temporary layoff, jury duty, military duty, or Leave of Absence) other than for the performance of duties (irrespective of whether the employment relationship has terminated), and each hour for which back pay, irrespective of mitigation of damages, has been awarded to the Employee or Participant or agreed to by the Employer. Hourly Employees shall be credited with Hours of Service on the basis of Hours of Service they actually become entitled to under this Section. Salaried Employees shall be credited with Hours of Service as follows: (1) Salaried Employees who are paid on a daily basis shall be credited with ten (10) Hours of Service for each day he performs an Hour of Service for the Employer or an Affiliate; (2) Salaried Employees who are paid on a weekly basis shall be credited with 45 Hours of Service for each week he performs an Hour of Service for the Employer or an Affiliate; (3) Salaried Employees who are paid on a semi-monthly basis shall be credited with 95 Hours of Service for each semi-monthly period in which he performs an Hour of Service for the Employer or an Affiliate; and (4) Salaried Employees who are paid on a monthly basis shall

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be credited with 190 Hours of Service for each month he performs an Hour of Service for the Employer or an Affiliate. Hourly Employees or Salaried Employees who are regular part-time Employees shall be credited with actual Hours of Service and once the part-time Employee reaches 1,000 Hours of Service, he shall be eligible for an Employer Profit Sharing Contribution. Hour of Service also includes any hour of service performed for an Affiliate that would be an Hour of Service under this Section if performed for or creditable with respect to the Employer.

The number of Hours of Service to be credited to an Employee or Participant who is entitled to payment for a period during which the Employee or Participant did not perform any duties shall be determined in accordance with Section 2530.200b-2(b) of the Department of Labor Regulations and this Section. An Employee or Participant shall not be credited with more than 501 Hours of Service during any computation period for any single, continuous period during which the Employee or Participant performs no duties. The Committee shall credit Hours of Service with respect to any Employee or Participant in the following manner:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) Hours of Service for which an Employee or Participant is either directly or indirectly paid or entitled to payment by the Employer for the performance of duties shall be credited for the Plan Year in which the Employee performs the duties; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) Hours of Service for which an Employee or Participant is either directly or indirectly paid or entitled to payment by the Employer for reasons (such as vacation, holiday, sickness, incapacity, temporary layoff, jury duty, military duty, or Leave of Absence) other than for the performance of duties shall be credited as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A. If payment for such Hours of Service is calculated on the basis of units of time (such as hours, days, weeks, or months), such Hours of Service shall be credited to the Plan Year(s) in which the period during which no duties are performed occurs, beginning with the first unit of time to which the payment relates;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;B. If payment for such Hours of Service is not calculated on the basis of units of time, such Hours of Service shall be credited to the Plan Year in which the period during which no duties are performed occurs, or, if the period during which no duties are performed extends beyond one Plan Year, such Hours of Service shall be allocated between not more than the first two (2) Plan Years on any reasonable basis which is consistently applied; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;C. An Employee or Participant shall not be credited with Hours of Service for a period during which the Employee does not perform any duties and is entitled to payment solely because of compliance with applicable workers' compensation, unemployment compensation, or disability insurance laws; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) Hours of Service for which back pay has been awarded to an Employee or Participant or agreed to by the Employer shall be credited for the Plan Year(s) in which the award or the agreement pertains rather than for the Plan Year in which the award, agreement, or payment is made.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) To the extent not otherwise provided herein, Hours of Service will also include any period of employment prior to January 1, 2026, which would have been considered for such purpose under the Prior Plan or Hourly Plan.

The Committee shall credit Hours of Service under only one of the immediately preceding paragraphs. Furthermore, if the Committee is to credit Hours of Service to an Employee or Participant for the 12-month period commencing with the Employee's or Participant's Employment Commencement Date, then that 12-month period shall be substituted for the term "Plan Year" wherever the latter term appears in this Section.

For purposes of determining whether an Employee or Participant has incurred a Break in Service under the Plan with respect to a termination of Service occurring prior to the Effective Date, a Break in Service shall be determined in accordance with the "break in service" provisions of the Prior Plan.

For purposes of determining whether an Employee or Participant has incurred a Break in Service under the Plan with respect to a termination of Service occurring on or after the Effective Date, an Employee or Participant shall be credited with 8 hours for each day (to a maximum of 40 hours per week) that the Employee or Participant is on any unpaid Leave of Absence. In no event shall hours credited under the preceding sentence be counted as Hours of Service for purposes of computing a Participant's vesting percentage under Article VII attributable to Employer contributions or for purposes of determining whether a Participant is eligible to share in the allocation of Employer Contributions and Forfeitures under Article V. An Employee or Participant on "Parental Absence" shall be treated as an Employee or Participant on an unpaid Leave of Absence for purposes of the first sentence of this paragraph; *provided, however*, that Hours of Service credited to an Employee or Participant as a result of a Parental Absence shall be credited only in the year in which such Parental Absence commences if the Employee or Participant would incur a Break in Service during such year without being credited with Hours of Service for such Parental Absence. If the Employee or Participant would not incur a Break in Service during such year, then the Hours of Service shall be credited for the year immediately following the year in which the Parental Absence commences. For purposes of the immediately preceding sentence, the term "year" shall mean the periods of computation used hereunder to determine an Employee's or Participant's Years of Service for purposes of eligibility and Years of Vesting Service for purposes of vesting. For purposes of this paragraph, the term "Parental Absence" shall mean an absence (i) by reason of the pregnancy of the Employee or Participant, (ii) by reason of the birth of a child of the Employee or Participant, (iii) by reason of the placement of a child with the Employee or Participant in connection with the adoption of such child by such Employee or Participant or (iv) for purposes of caring for such child for a period beginning immediately following such birth or placement. In order for the absence of a Participant or an Employee to qualify as a Parental Absence, the Employee or Participant must furnish the Committee in a timely manner, with such information and documentation as the Committee shall reasonably require to establish or confirm that the absence from work is for the reasons referred to above and the number of days for which there was such absence. The Hours of Service to be credited in connection with such Parental Absence shall be the Hours of Service that would otherwise have been credited to the Employee or Participant but for such absence or, in any case

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in which the Committee is unable to determine the number of Hours of Service that would otherwise have been credited to such Employee or Participant, 8 Hours of Service per day of absence, provided that the total number of hours so treated as Hours of Service for any period of Parental Absence shall not exceed 501 Hours of Service.

Effective as of April 22, 2022, notwithstanding the foregoing, for those individuals who were formerly employed by Varra Companies, Inc. ("Varra") and became Eligible Employees on or about April 22, 2022 in connection with the Company's acquisition of substantially all of the assets of Varra, such previous service with Varra shall be recognized for purposes of determining Hours of Service hereunder. Effective as of March 7, 2020, notwithstanding the foregoing, for those individuals who were formerly employed by Kosmos Cement Company ("Kosmos") and became Eligible Employees on or about March 7, 2020 in connection with the Company's acquisition of substantially all of the assets of Kosmos, such previous service with Kosmos shall be recognized for purposes of determining Hours of Service hereunder. Effective August 3, 2019, notwithstanding the foregoing, for those individuals who were formerly employed by 3D Concrete, SDJD Properties, LLC, Lander County Aggregate Company, LLC, Reno-Sparks Investment Properties, LLC and Triple D Properties, LLC (collectively, "3D") and became Eligible Employees on or about August 3, 2019 in connection with the Company's acquisition of substantially all of the assets of 3D, such previous service with 3D shall be recognized for purposes of determining Hours of Service hereunder. Effective January 1, 2026, notwithstanding the foregoing, for those individuals who were formerly employed by an unrelated employer and became Eligible Employees in connection with the Company's acquisition of substantially all of the assets of such unrelated employer, such previous service with such unrelated employer shall be recognized for purposes of determining Hours of Service hereunder to the extent such service was recognized under the Prior Plan or the Salaried Plan.

Effective as of March 31, 2023, notwithstanding the foregoing, for those individuals who were formerly employed by Haydon Materials Battletown, LLC or its Affiliate ("Haydon") and became Eligible Employees on or about March 31, 2023 in connection with the acquisition of substantially all of the assets of Haydon's mining operations, such previous service with Haydon shall be recognized for purposes of determining Hours of Service hereunder.

Effective as of May 3, 2023, notwithstanding the foregoing, for those individuals who were formerly employed by Martin Marietta Materials, Inc. or its Affiliate ("Martin") and became Eligible Employees on or about May 3, 2023 in connection with the acquisition of substantially all of the assets of Martin's cement import and distribution business in Northern California by Nevada Cement Company LLC, one of the Company's indirect, wholly-owned subsidiaries, such previous service with Martin shall be recognized for purposes of determining Hours of Service hereunder.

Effective as of August 9, 2024, notwithstanding the foregoing, for those individuals who were formerly employed by Hilltop Big Bend Quarry LLC or its affiliate ("BBQ") and became Eligible Employees on or about August 9, 2024 in connection with the acquisition of substantially all of the assets of BBQ's mining, distributing and selling aggregates business by Battletown Materials LLC, one of the Company's indirect, wholly-owned subsidiaries, such

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previous service with BBQ shall be recognized for purposes of determining Hours of Service hereunder. Effective as of January 7, 2025, notwithstanding the foregoing, for those individuals who are employed by Bullskin Stone & Lime, LLC ("Bullskin") and became Eligible Employees on or about January 7, 2025 in connection with the acquisition of Bullskin by the Company, such previous service with Bullskin shall be recognized for purposes of determining Hours of Service hereunder.

The Committee shall resolve any ambiguity with respect to the crediting of an Hour of Service in favor of the Employee.

<u>Hourly Employee</u>. An Employee who is (i) compensated by his Employer on an hourly-rated basis (that is, he is not a Salaried Employee); (ii) a member of a group or class of Employees of an Employer to whom the Plan has been extended by the board of directors of the Employer as an Hourly Employee; or (iii) covered by a collective bargaining agreement between employee representatives and the Employer that provides, pursuant to good faith bargaining, for coverage under the Plan as an Hourly Employee.

<u>Hourly Participant</u>. A Participant who is an Hourly Employee.

<u>Income of the Trust Fund</u>. The net gain or loss of the Trust Fund from investments, as reflected by interest payments, dividends, realized and unrealized gains and losses on securities and other investment transactions and expenses paid from the Trust Fund.

<u>Investment Fund</u>. One or more investment alternatives designated by the Committee pursuant to the Plan and Trust Agreement as alternatives in which Participants may elect to invest their Accounts, subject to the provisions and restrictions in Article IX. The foregoing notwithstanding, the term "Investment Fund" shall not include, or refer to, the Company Stock Fund.

<u>Leased Employee</u>. Each person who is not an employee of the Employer or an Affiliate but who performs services for the Employer or an Affiliate pursuant to a leasing agreement (oral or written) between the Employer or an Affiliate and any leasing organization, provided that such person has performed such services for the Employer or an Affiliate or for related persons (within the meaning of Section 144(a)(3) of the Code) 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 Employer or an Affiliate. The term "Leased Employee" shall also include any individual who is deemed to be an employee of the Employer under Section 414(o) of the Code. Notwithstanding the preceding sentences, the term "Leased Employee" shall not include individuals described in Section 414(n)(5) of the Code.

<u>Leave of Absence</u>. Any leave of absence required by law or granted by an Employer on account of service in military or governmental branches described in any applicable statute granting reemployment rights to employees who entered such branches, or any other military or governmental branch designated by the Employer; or any other authorized absence from active employment with an Employer including, but not limited to, vacations, illness, temporary layoff, temporary disability, or other absence for good cause which is not treated by the

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Employer as a termination of employment. If an Employee or Participant does not return to work with an Employer (or an Affiliate which is not an Employer) on or before termination of a Leave of Absence, he will be considered to have terminated Service on the date his Leave of Absence expires, unless he actually terminated Service before the expiration of his Leave of Absence.

<u>Merged Plan</u>. A qualified plan within the meaning of Section 401(a) of the Code that is merged with and into and becomes a part of the Plan.

<u>Normal Retirement Date</u>. The date of the 65th birthday of a Participant.

<u>Participant</u>. An Eligible Employee who, pursuant to the provisions of Article III, has met the eligibility requirements for participation in the Plan and is participating in the Plan.

<u>Plan</u>. Eagle Materials Inc. Retirement Plan, as amended and restated effective January 1, 2026, as set forth herein and as hereafter amended from time to time (and formerly known as the Eagle Materials Inc. Hourly Profit Sharing Plan).

<u>Plan Year</u>. The 12-month period commencing on January 1 and ending on December 31.

<u>Pre-Tax Contribution</u>. The amount contributed pursuant to the Participant's deferral election by the Employer in accordance with Section 4.1.

<u>Pre-Tax Contribution Account</u>. The Account maintained for a Participant to record his Pre-Tax Contributions (including Catch-Up Contributions) to the Plan and adjustments relating thereto.

<u>Pre-Tax Rollover Account</u>. The Account maintained for a Participant to record a rollover of pre-tax contributions to the Plan and adjustments relating thereto.

<u>Prior Plan</u>. Eagle Materials, Inc. Retirement Plan, as in effect on December 31, 2025, immediately prior to its amendment and restatement in the form of this Plan.

<u>Required Commencement Date</u>. With respect to a Participant who is a 5% owner (as defined in Code Section 416(i)), April 1st of the calendar year following the calendar year in which the Participant attains (i) age 70½ if the Participant attains age 70½ prior to January 1, 2020, (ii) age 72 if the Participant attains age 70½ after December 31, 2019 and age 72 before January 1, 2023, (iii) age 73 if the Participant attains age 72 after December 31, 2022 and age 73 before January 1, 2033, or (iv) age 75 if the Participant attains age 73 after December 31, 2032; and with respect to any other Participant, April 1st of the calendar year following the calendar year in which the later of the following occurs (A) the Participant attains (i) age 70½ if the Participant attains age 70½ prior to January 1, 2020, (ii) age 72 if the Participant attains age 70½ after December 31, 2019 and age 72 before January 1, 2023, (iii) age 73 if the Participant attains age 72 after December 31, 2022 and age 73 before January 1, 2033, or (iv) age 75 if the Participant attains age 73 after December 31, 2032; or (B) the Participant retires.

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<u>Rollover Account</u>. A Participant's Pre-Tax Rollover Account and/or Roth Rollover Account.

<u>Rollover Contribution</u>. One or more distributions to an Employee of all or any portion of the pre-tax balance and/or Roth contribution balance (but not a non-Roth, after-tax balance) to the credit of an Employee in a qualified defined contribution plan or qualified defined benefit plan as described in Section 401(a) of the Code that meet the requirements of Eligible Rollover Distributions as defined in Section 8.5 of the Plan, subject to the conditions and limits in Section 4.11 of the Plan.

<u>Roth Contribution</u>. The amount contributed by a Participant to the Plan as designated Roth contribution under Section 402A of the Code pursuant to Section 4.3.

<u>Roth Contribution Account</u>. The Account maintained for a Participant to record his Roth Contributions and adjustments relating thereto.

<u>Roth Rollover Account</u>. The Account maintained for a Participant to record a rollover of Roth contributions to the Plan and adjustments relating thereto.

<u>Salaried Employee</u>. An Employee who (i) is compensated by his Employer in fixed amounts even though he may receive additional compensation in the form of bonuses or overtime, (ii) is a member of a group or class of Employees designated as "salaried employees" for payroll purposes, (iii) is a Commissioned Sales Employee, or (iv) is a member of a group or class of Employees of an Employer to whom the Plan has been extended by the board of directors of the Employer as a Salaried Employee.

<u>Salaried Participant</u>. A Participant who is a Salaried Employee.

<u>Salaried Plan</u>. Profit Sharing and Retirement Plan of Eagle Materials Inc, as in effect on December 31, 2018, immediately prior to the merger with and into the Prior Plan.

<u>Service</u>. An Employee's or Participant's period of employment, including any period the Employee is on Leave of Absence, with an Employer or Affiliate as determined in accordance with Article III. A "Year of Service" shall have the meaning set forth in Article III. For the avoidance of doubt, each person who was or had been a "Participant" in the Prior Plan or Hourly Plan prior to January 1, 2026, shall be credited as of that date with all periods of "Service" accrued under the applicable plan prior to such date.

<u>Spouse</u>. A person to whom the Participant is legally married under the laws of a U.S. state or territory or foreign jurisdiction.

<u>Trust Agreement</u>. The Trust Agreement provided for in Article IX, as amended from time to time.

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<u>Trust Fund</u>. The Investment Funds and Company Stock Fund held by the Trustee under the trust pursuant to the Trust Agreement, together with all income, profits or increments thereon.

<u>Trustee</u>. The trustee under the Trust Agreement.

<u>Valuation Date</u>. Any date on which the United States financial markets are open and any date on which the value of the assets of the Trust Fund is determined by the Trustee pursuant to Section 5.4.

<u>Vesting Service</u>. The period of a Participant's Service considered in the determination of his vesting percentage for benefits under the Plan as determined in accordance with Article III. A "Year of Vesting Service" shall have the meaning set forth in Article III.

Words used in the Plan and in the Trust Agreement in the singular shall include the plural and, in the plural, the singular, and the gender of words used shall be construed to include whichever may be appropriate under any particular circumstances of the masculine, feminine or neuter genders.

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# <u>ARTICLE II</u> <br><u>ADMINISTRATION OF THE PLAN</u> 
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1 <u>Allocation of Responsibility Among Fiduciaries for Plan and Trust Administration</u>. The Board, the Committee and the Trustee (hereinafter collectively referred to as the "Fiduciaries") shall serve as fiduciaries for purposes of ERISA only to the extent of those specific powers, duties, responsibilities and obligations as are specifically given them under the Plan or the Trust Agreement. The Board, in its capacity as a Fiduciary, shall only have responsibility for appointment and removal of the Trustee and the members of the Committee. The Committee, in its capacity as a Fiduciary, shall have the sole responsibility (i) to establish and carry out the investment policy and method of the Plan insofar as such investment policy and method involves the investment of Plan assets, to appoint and remove any investment manager which may be provided for under the Trust Agreement and to monitor the performance of the Trustee and any such investment manager, if any, as such term is defined by ERISA Section 3(38), which responsibilities are specifically described in the Trust Agreement; and (ii) to administer the Plan, which responsibilities are more specifically described in the Plan and the Trust Agreement. The Trustee, in its capacity as a Fiduciary, shall have the sole responsibility for the administration of the Trust Fund and shall have exclusive authority and discretion to manage and control the Trust Fund, except to the extent that the authority to manage, acquire and dispose of assets of the Trust Fund is delegated to an investment manager, all as more specifically provided in the Trust Agreement. Neither the Board nor any committee of the Board shall have any discretionary authority, control or responsibility with respect to the administration or management of the Plan or the disposition of the Plan's assets. Each Fiduciary warrants that any directions given, information furnished, or action taken by it shall be in accordance with the provisions of the Plan or the Trust Agreement, as the case may be, authorizing or providing for such direction, information or action. Furthermore, each Fiduciary may rely upon any such direction, information or action of another Fiduciary as being proper under the Plan or the Trust Agreement and is not required under the Plan or the Trust Agreement to inquire into the propriety of any such direction, information or action. It is intended under the Plan and the Trust Agreement that each Fiduciary shall be responsible for the proper exercise of its own powers, duties, responsibilities and obligations under the Plan and the Trust Agreement and shall not be responsible for any act or failure to act of another Fiduciary. No Fiduciary guarantees the Trust Fund in any manner against investment loss or depreciation in asset value.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.2 <u>Committee</u>. The Plan shall be administered by the Administrative Committee (the "Committee"), which members shall consist of at least three but not more than nine persons who shall be appointed by and serve at the pleasure of the Board, which Committee shall serve in the capacity of the "plan administrator" within the meaning of Section 404 of ERISA and which shall be a "named fiduciary" for purposes of ERISA. The members of the Committee shall not receive compensation with respect to their services for the Committee. All usual and reasonable expenses of the Committee may be paid in whole or in part by the Company, and any expenses not paid by the Company shall be paid by the Trustee out of the Trust Fund. The Company shall pay the premiums on any bond secured for the performance of the duties of the Committee members

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## described hereunder. The Company shall be entitled to reimbursement by other Employers for their proportionate shares of any such costs paid in whole or in part by the Company.
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.3 <u>Records and Reports</u>. The Committee shall exercise such authority and responsibility as it deems appropriate in order to comply with ERISA and any governmental regulations issued thereunder relating to records of Participants' Service, Account balances, the percentage of such Account balances which are non-forfeitable under the Plan, and notifications to Participants. The Committee shall file or cause to be filed with the appropriate office of the Internal Revenue Service and the Department of Labor all reports, returns, notices and other information required of plan administrators under ERISA, including, but not limited to, the summary plan description, annual reports and amendments thereof. The Committee shall make available to Participants and their Beneficiaries for examination, during business hours, such records of the Plan as pertain to the examining person and such documents relating to the Plan as are required by ERISA.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.4 <u>Other Committee Powers and Duties</u>. The Committee shall have such powers as may be necessary to discharge its duties hereunder, including, but not by way of limitation, the following powers and duties:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) To construe and interpret the Plan, decide all questions of eligibility and determine the amount, manner and time of payment of any benefits hereunder;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) To prescribe procedures to be followed by Participants or Beneficiaries filing applications for benefits;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) To receive from the Employers and from Employees such information as shall be necessary for the proper administration of the Plan;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) To prepare and distribute, in such manner as the Committee determines to be appropriate, information explaining the Plan;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) To furnish the Employers, upon request, such annual reports with respect to the administration of the Plan as are reasonable and appropriate;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) To give written directions to the Trustee, on behalf of Participants, as to the investment and reinvestment of the Trust Fund;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) To receive and review reports of the financial condition, and of the receipts and disbursements, of the Trust Fund from the Trustee and any investment manager;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) To appoint or employ individuals to assist in the administration of the Plan and any other agents it deems advisable, including legal and actuarial counsel;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) To interpret and construe all terms, provisions, conditions and limitations of the Plan and to reconcile any inconsistency or supply any omitted detail that may appear

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in the Plan in such manner and to such extent, consistent with the general terms of the Plan; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) In the event of any share split, share dividend or combination of outstanding shares of Company Stock, to determine the appropriate allocation of shares of Company Stock to the portion of the Accounts maintained for Participants that are invested in the Company Stock Fund and to determine the appropriate number of shares distributable to a Participant under the Plan immediately following such share split, share dividend or combination so as to effectuate the intent and purpose of the Plan; *provided, however*, that the Committee shall not be authorized or otherwise able to (i) amend, modify, restrict, suspend or limit investment in, or terminate, the Company Stock Fund or (ii) amend, modify or terminate any provision of the Plan or Trust Agreement related to the administration or availability for investment of the Company Stock Fund.

Except as otherwise provided in Article X, the Committee shall have no power to add to, subtract from or modify any of the terms of the Plan, nor to change or add to any benefits provided by the Plan, nor to waive or fail to apply any requirements of eligibility for a benefit under the Plan. Notwithstanding the foregoing limitations on the Committee's powers, the Board shall nonetheless have said powers as provided in Article X.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.5 <u>Rules and Decisions</u>. The Committee may adopt such rules for the administration of the Plan as it deems necessary, desirable or appropriate. All rules and decisions of the Committee shall be uniformly and consistently applied to all Employees in similar circumstances. The judgment of the Committee and each member thereof on any question arising hereunder shall be binding, final and conclusive on all parties concerned. When making a determination or calculation, the Committee shall be entitled to rely upon information furnished by a Participant or Beneficiary, the Employer, the legal counsel of the Employer or the Trustee.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.6 <u>Committee Procedure</u>. The Committee may act at a meeting or in writing without a meeting. The Committee shall elect one of its members as chairman, appoint a secretary, who may or may not be a member of the Committee, and shall advise the Trustee of such actions in writing. The secretary of the Committee shall keep a record of all meetings and forward all necessary communications to the Employer or the Trustee. The Committee may adopt such bylaws and regulations as it deems desirable for the conduct of its affairs. All decisions of the Committee shall be made by the vote of the majority including actions taken in writing without a meeting. A dissenting Committee member who, within a reasonable time after he has knowledge of any action or failure to act by the majority, registers his dissent in writing delivered to the other Committee members, the Employer and the Trustee shall not be responsible for any such action or failure to act. The Committee shall designate one of its members as agent of the Plan and of the Committee for service of legal process at the principal office of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.7 <u>Authorization of Benefit Payments.</u> The Committee shall issue directions to the Trustee concerning all benefits which are to be paid from the Trust Fund pursuant to the provisions of the Plan. Alternatively, the Committee, in its sole discretion, may authorize that in-service withdrawals, as further described in Article VI, may be made upon request of the Participant through a voice response system, internet, intranet or such other manner and procedures prescribed

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## by the Committee. The Committee shall keep on file, in such manner as it may deem convenient or proper, all reports from the Trustee.
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.8 <u>Payment of Expenses.</u> Expenses incident to the administration, termination or protection of the Plan and Trust Fund, including, but not limited to, legal, accounting, investment manager and Trustee fees shall be paid by the Trust, except where required by law or regulation to be paid by the Company or where the Company elects to pay such expenses. Further, to the extent applicable, expenses as approved by the Committee (or by a designee of the Committee) that are attributable to Plan administration may be paid from an excess revenue credit account under the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.9 <u>Application and Forms for Benefits.</u> The Committee may require an Employee or Participant to complete and file with the Committee an application for a benefit and all other forms approved by the Committee, and to furnish all pertinent information requested by the Committee. The Committee may rely on such information so furnished it, including the Employee's or Participant's current mailing address.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.11 <u>Statements.</u> No less frequently than annually, the Committee (or its delegate) shall prepare and deliver to each Participant a statement reflecting as of the Valuation Date provided in the statement:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Such information applicable to contributions by and for each such Participant and the increase or decrease thereof as a consequence of valuation adjustments; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The balance in his Account as of that Valuation Date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.12 <u>Annual Audit.</u> The Committee shall engage, on behalf of all Participants, an independent Certified Public Accountant who shall conduct an annual examination of any financial statements of the Plan and Trust Fund and of other books and records of the Plan and Trust Fund as the Certified Public Accountant may deem necessary to enable him to form and provide a written opinion as to whether the financial statements and related schedules required to be filed with the Department of Labor or furnished to each Participant are presented fairly and in conformity with

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## generally accepted accounting principles applied on a basis consistent with that of the preceding Plan Year. If, however, the statements required to be submitted as part of the reports to the Department of Labor are prepared by a bank or similar institution or insurance carrier regulated and supervised and subject to periodic examination by a state or federal agency and if such statements are certified by the preparer as accurate and if such statements are, in fact, made a part of the annual report to the Department of Labor and no such audit is required by ERISA, then the audit required by the foregoing provisions of this Section shall be optional with the Committee.
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.13 <u>Investment Policy.</u> The Committee shall, at a meeting duly called for such purpose, establish and maintain an investment policy and method consistent with the objectives of the Plan. The Committee shall meet at least annually to review such investment policy and method. In establishing and reviewing such investment policy and method, the Committee shall endeavor to determine the Plan's short-term and long-term objectives and financial needs, taking into account the need for liquidity to pay benefits and the need for investment growth.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.14 <u>Allocation and Delegation of Committee Responsibilities.</u> Upon the approval of a majority of the members of the Committee, the Committee may (i) allocate among any of the members of the Committee any of the responsibilities of the Committee under the Plan and Trust Agreement and/or (ii) designate any person, firm or corporation that is not a member of the Committee to carry out any of the responsibilities of the Committee under the Plan and Trust Agreement. Any such allocation or designation shall be made pursuant to a written instrument executed by a majority of the members of the Committee.

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# <u>ARTICLE III</u> <br><u>PARTICIPATION AND SERVICE</u> 
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.1 <u>Eligibility for Participation</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Participants in Prior Plan and Salaried Plan</u>. Each Employee who was a Participant in the Prior Plan immediately preceding the Effective Date, shall continue as an active Participant in the Plan if he is employed by the Employer as of the Effective Date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Pre-Tax Contributions, Roth Contributions and After-Tax Contributions</u>. Each Eligible Employee shall become eligible to participate in the Plan for purposes of making Pre-Tax Contributions under Section 4.1, Roth Contributions under Section 4.3 and After-Tax Contributions under Section 4.4 on the Eligible Employee's Employment Commencement Date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Employer Profit Sharing Contributions</u>. Except as otherwise provided in Section 3.6, each Eligible Employee who was not a Participant in the Plan as of the Effective Date with respect to eligibility for Employer Profit Sharing Contributions shall become a Participant in the Plan for purposes of receiving Employer Profit Sharing Contributions pursuant to Section 4.2, and for purposes of allocating such contributions pursuant to Section 5.2, on such Eligible Employee's Entry Date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) <u>Employer Matching Contributions</u>. Each eligible Hourly Employee who was not a Participant in the Plan as of the Effective Date with respect to eligibility for Employer Matching Contributions, shall become eligible for Employer Matching Contributions, if eligible under *Appendix A*, and for purposes of allocating such contributions pursuant to *Appendix A*, on such eligible Hourly Employee's Employment Commencement Date. Effective January 7, 2025, each Salaried Employee, if eligible under Appendix A, shall become eligible for Employer Matching Contributions, and for purposes of allocating such contributions pursuant to Appendix A. A Salaried Employee eligible for Employer Matching Contributions under Appendix A for any portion of a Plan Year shall not be eligible for Employer Profit Sharing Contributions under Section 4.2(a) of the Plan for such portion of that Plan Year.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.2 <u>Merged Plans</u>. A participant in a Merged Plan shall become a Participant in the Plan as of the date such plan is merged with and into and becomes a part of the Plan (such date, the "merger date") with respect to benefits accrued under the Merged Plan immediate prior to the merger date. Neither the merger of a Merged Plans into the Plan nor the amendment and restatement of the Plan shall operate to exclude, diminish, limit, or restrict the payments or continuation of payments of benefits accrued under the Merged Plan to such participant as of the merger date. Except to the extent otherwise expressly provided in the Plan or as required to reflect the fact that benefits accrued under the merged plan immediately prior the merger date is provided under the Plan based on the terms of the Merged Plan immediately prior to the merger date, the provisions of the Plan shall not apply to determine the amount or timing or form of distribution of such benefits and the amount and timing and form of distribution of all such benefits payable to a

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## participant in a Merged Plan shall be determined according to the terms of the Merged Plan as in effect immediately prior to the merger date or, if earlier, the Participant's latest date of participation therein.
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.3 <u>Notification of Eligible Employees</u>. The Committee, which shall be the sole judge of the eligibility of an Employee to participate under the Plan, shall notify each Employee of his initial eligibility to participate in the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.4 <u>Applications by Employees</u>. Each Eligible Employee who desires to make Pre-Tax Contributions, Roth Contributions and/or After-Tax Contributions to the Plan shall, in such form and in the manner designated by the Committee, (i) elect to make and designate the amount of his Pre-Tax Contributions, Roth Contributions and/or After-Tax Contributions to the Plan, (ii) elect the Investment Funds and/or Company Stock Fund pursuant to Section 9.3 in which to invest the amounts in his Account under the Plan, (iii) authorize payroll deductions for his Pre-Tax Contributions, Roth Contributions and/or After-Tax Contributions, and (iv) provide any other information the Committee considers necessary or desirable to administer the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.5 <u>Years of Service for Participation</u>*.* For purposes of determining an Employee's Service for eligibility to receive an Employer Profit Sharing Contribution under Section 3.1(c) of the Plan, the Employee shall (i) with respect to periods of time prior to the Effective Date, be given credit for a Year of Service for each "year of service" with which he was credited pursuant to the Prior Plan, and (ii) with respect to periods of time on and after the Effective Date, be given credit for a Year of Service.

With respect to an Employee who is classified as a part-time Employee by his Employer, for purposes of determining such Employee's Service for eligibility to receive an Employer Profit Sharing Contribution under Section 3.1(c) of the Plan, the Employee shall be given credit for a Year of Service if he:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Completes not less than 1,000 Hours of Service within the 12-consecutive month period beginning with his Employment Commencement Date; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Remains employed during that entire 12-month period.

In the case of an Employee who separates from Service and then resumes Service, but not as a Re-Employed Employee (as defined below), after his number of consecutive Breaks in Service equals or exceeds the greater of 5 or his Years of Service, his Years of Service, defined herein, prior to his resumption of employment shall be disregarded. For purposes of this Section, in the case of such an Employee, his Employment Commencement Date shall mean the date on which the Employee first performs an Hour of Service for the Employer following the close of the last Plan Year in which the Employee incurred a Break in Service.

In the case of an Employee who separates from Service and then resumes Service as a Re-Employed Employee, such Re-Employed Employee shall re-enter the Plan as a Participant on the later of:

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(x) The day he performs his first Hour of Service as a result of his resumption of Service; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(y) The date his participation would have commenced had there been no separation from Service unless he separates from Service subsequent to his resumption of Service, but before such date.

For purposes of the Plan, a Re-Employed Employee shall mean an Employee who separated from Service with the Employer or an Affiliate (1) with a vested interest in Employer Contributions under the Plan or employee contributions under any other defined contribution plan maintained by the Company or an Affiliate ("Related Plan"), or (2) without a vested interest in Employer Contributions under the Plan or employer contributions under a Related Plan but who resumes Service before his number of consecutive Breaks in Service equals or exceeds the <u>greater</u> of 5 or his number of Years of Service (as defined in this Section).

Any other Employee whose Service terminates and who is subsequently re-employed and resumes Service shall commence participation in accordance with the provisions of Section 3.1.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.6 <u>Years of Vesting Service</u>. For purposes of determining an Employee's vesting under Section 7.4, an Employee shall (i) with respect to periods of time prior to the Effective Date, be credited with a Year of Vesting Service for each "year of service" with which he was credited for vesting purposes pursuant to the Prior Plan and Salaried Plan, as applicable, and (ii) with respect to periods of time on and after the Effective Date, be given credit for a Year of Vesting Service for any Plan Year during which he is continuously employed by the Employer or during which the Employee completes not less than 1,000 Hours of Service.

In the case of an Employee who separates from Service and who then resumes Service with the Employer but is not a Re-Employed Employee (as defined in Section 3.5), except that the reference to Years of Service shall mean Years of Vesting Service as defined in this Section, Years of Vesting Service prior to his resumption of Service shall be disregarded. If a Participant incurs 5 consecutive Breaks in Service, Vesting Service after such Breaks in Service shall not increase the Participant's vested percentage in his Account balance attributable to Employer contributions that were made prior to such 5 consecutive Breaks in Service.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.7 <u>Transferred Participants.</u> If a Participant is transferred to an Affiliate, or to an employment classification with an Employer which is not covered by the Plan, his participation shall be suspended until he is subsequently re-employed by an Employer in an employment classification covered by the Plan; *provided, however*, that during such suspension period (i) such Participant shall be credited with Service in accordance with Section 3.5 and 3.6, (ii) he shall not be entitled or required to make contributions under Section 4.1 or 4.4, (iii) his Employer Profit Sharing Account shall receive no Employer Contribution allocations except to the extent provided in Sections 4.2 and 5.2 and (iv) his Account shall continue to share proportionately in Income of the Trust Fund as provided in Article V. If an Employee is transferred from an employment classification with an Employer that is not covered by the Plan to an employment classification that is so covered, or from an Affiliate to an employment classification with an Employer that is

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## so covered, his period of Service prior to the date of transfer shall be considered for purposes of determining his eligibility to become a Participant under Sections 3.1 and 3.5 and for purposes of vesting under Section 7.4.
In the event an employee of a domestic Affiliate is transferred to employment with an Employer in an employment classification covered by the Plan and such Affiliate provides a thrift, savings or profit-sharing plan of like nature and intent as the Plan in which the Employee was a participant immediately preceding his transfer, such employee's account balance in a domestic Affiliate's defined contribution plan qualified under Section 401(a) of the Code, determined on the Valuation Date coincident with or next following the date of the employee's transfer, may, subject to the approval and in the sole discretion of the Committee, be transferred to the Trust Fund held under the Plan and allocated among the Investment Funds and the Company Stock Fund, as applicable, in accordance with the provisions of Section 9.3; *provided, however*, that such plan otherwise permits and approves of such transfer. In the event a Participant under the Plan is transferred to employment with an Affiliate and such Affiliate provides a thrift, savings or profit-sharing plan of like nature and intent as the Plan in which the Participant will be eligible to participate as an employee of such Affiliate, such Participant's account balances in the Plan, determined as of the Valuation Date coincident with or next following the date of the Participant's transfer, may, subject to the approval of the plan administrator of the Affiliate's plan and the Committee, in its sole discretion, be transferred to such plan and allocated between the investment funds held thereunder in accordance with the provisions thereof. For purposes of this paragraph, all references to "Affiliate" shall include employment classifications with an Employer.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.8 <u>Beneficiary Upon Death.</u> Upon the death of a Participant, the Participant's Account shall be distributed to the Participant's surviving Spouse, but if there is no surviving Spouse, or if the surviving Spouse has consented by a qualified election prior to the Participant's death pursuant to Section 3.9, to the Beneficiary or Beneficiaries designated by the Participant in a written designation filed with the Plan, or if no such designation shall have been so filed, such designation is determined by the Committee to not be effective, or if a designated Beneficiary death occurs prior that the date of death of the Participant, then to the Participant's estate (provided that if there are multiple Beneficiaries on a valid designation, and one or more of the Beneficiaries survive the Participant, then only the portion of the Account directed to be paid to the Beneficiary or Beneficiaries who predecease the Participant shall be paid to the Participant's estate). No designation of any Beneficiary other than the Participant's surviving Spouse shall be effective unless in writing and received by the Participant's Employer, and in no event shall it be effective as of a date prior to such receipt. The former Spouse of a Participant shall be treated as a surviving Spouse to the extent provided under a qualified domestic relations order as described in Section 414(p) of the Code. As soon as possible after an Employee has become a Participant he shall file with the Committee a designation, in the form and manner as prescribed by the Committee, of the Beneficiary to receive benefits payable hereunder upon his death. The Participant may at any time change or cancel any such designation on a form, and in the manner, prescribed by the Committee. The last such designation received by the Committee shall be controlling over any testamentary or other disposition; *provided, however,* that no designation or change or cancellation thereof shall be effective prior to the Participant's death, and in no event shall it be effective as of a date prior to such receipt. If the Committee shall be in doubt as to the right of any Beneficiary designated

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## by a deceased Participant to take the interest of such decedent, the Committee may direct the Trustee to take any action it deems appropriate under the circumstances, including, but not limited to, filing an interpleader action or paying the amount in question to the estate of such Participant, in which event the Trustee, the Employer, the Committee and any other person in any manner connected with the Plan shall have no further liability in respect of the amount so paid. Notwithstanding any provision in this Section 3.8 or the Plan to the contrary, if a Participant is divorced from his Spouse and at the time of his death is not remarried to the person from whom he was divorced, any designation of such divorced Spouse as his Beneficiary under the Plan filed prior to the divorce shall be null and void unless the contrary is expressly stated in a new Beneficiary designation form filed with the Committee.
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.9 <u>Qualified Election.</u> The Participant's Spouse may waive the right to receive the Participant's full vested Account balance. The election to waive the Participant's full vested Account balance must designate a Beneficiary which may not be changed without spousal consent (or the consent of the Spouse must expressly permit designation by the Participant without any requirement of further consent of the Spouse). A consent that permits designations by the Participant without any requirement of further consent by the Spouse must acknowledge that the Spouse has the right to limit consent to a specific beneficiary and that the Spouse voluntarily elects to relinquish such right. The waiver must be in writing and the Participant's Spouse must acknowledge the effect of the waiver. The Spouse's consent to a waiver must be witnessed by a Plan representative or a notary public. The Participant may file a waiver without the Spouse's consent if it is established to the satisfaction of the Committee that such written consent may not be obtained because there is no Spouse, or the Spouse cannot be located. Any consent under this Section will be valid only with respect to the Spouse who signs the consent. Additionally, a revocation of a prior waiver may be made by a Participant without the consent of the Spouse at any time before the distribution of the Account. The number of revocations shall not be limited.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.10 <u>Qualified Military Service.</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Notwithstanding any provision of the Plan to the contrary, contributions, benefits and service credit with respect to Qualified Military Service, as such term is defined in Section 414(u)(5) of the Code, will be provided in accordance with Section 414(u) of the Code. Specifically, as required by Section 414(u)(8) of the Code, the Participant will be treated as not having incurred a Break in Service because of his period of Qualified Military Service, the Participant's Qualified Military Service will be treated as Service under the Plan for vesting and Contribution purposes and the Participant will be permitted to make up any Pre-Tax Contributions, Roth Contributions and After-Tax Contributions he would have otherwise been eligible to make during the period of Qualified Military Service.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) If a Participant's death occurs on or after January 1, 2007, while performing Qualified Military Service, then, provided such Participant was entitled to reemployment rights with respect to an Employer under Code Section 414(u) as of the date of his death, the Participant's Beneficiary or Beneficiaries shall be entitled to any benefits (other than benefit accruals relating to the period of Qualified Military Service), such as accelerated

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vesting under Section 3.6, that would be provided under the Plan if the Participant had resumed and then terminated his service on account of death, in compliance with Code Section 401(a)(37) and the Treasury regulations and guidance issued by the Internal Revenue Service thereunder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) If an individual is paid remuneration by an Employer after December 31, 2008 that constitutes a "differential wage payment" within the meaning of Code Section 3401(h)(2), then (i) such individual shall be treated as an Employee of the Employer, and (ii) the differential wage payment shall be treated as Compensation for purposes of Section 5.3, as well as for Contribution and Employer Matching Contribution purposes.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Notwithstanding any contrary provision of the Plan, no distribution shall be permitted from a Participant's Account upon a "deemed" severance from employment, as defined in Code Section 414(u)(12)(B).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) No Participant or Beneficiary shall be entitled to any continued benefit accruals or employer contributions under Code Section 414(u)(9) (as enacted under section 104(b) of the Heroes Earnings Assistance and Relief Act of 2008) by reason of incurring a death or disability during a period of Qualified Military Service.

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# <u>ARTICLE IV</u> <br><u>CONTRIBUTIONS AND FORFEITURES</u> 
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.1 <u>Pre-Tax Contributions</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Deferral Elections</u>. Subject to Section 4.1(b), each Eligible Employee who elects to make Pre-Tax Contributions for a Plan Year may initially elect to defer each pay period a portion of his Compensation in whole percentages of between (a) 1% and (b) 100% or such lesser percentage designated by the Committee of his Compensation and, unless otherwise provided by the Committee, an additional deferral from the last pay check of any calendar quarter; *provided, however*, that his total Pre-Tax Contributions under this Section for any Plan Year shall not exceed (i) 100% or such lesser percentage designated by the Committee of a Participant's Compensation for the Plan Year or (ii) the annual limit under Code Section 402(g) for the Plan Year (as adjusted by the Secretary of the Treasury to reflect increases in the cost-of-living), except to the extent permitted under this Section with respect to Catch-Up Contributions.

Notwithstanding the foregoing paragraph of this Section, each Eligible Employee who may elect to make Pre-Tax Contributions under this Section and who has attained age 50 before the close of the Plan Year shall be eligible to elect to make Catch-Up Contributions in the form and manner prescribed by the Committee. Catch-Up Contributions shall not be taken into account for purposes of the provisions of the Plan implementing the required limitations of Code Sections 402(g) and 415. The Plan shall not be treated as failing to satisfy the provisions of the Plan implementing the requirements of Code Sections 401(k)(3), 410(b) or 416, as applicable, by reason of the making of such Catch-Up Contributions. Notwithstanding the foregoing, any Eligible Employee otherwise eligible to make Catch-Up Contributions and who received wages (as defined in Code Section 3121(a)) from his or her Employer for the preceding calendar year exceeding $145,000 (indexed annually) is ineligible to make Catch-Up Contributions as Pre-Tax Contributions and shall only be permitted to make Catch-up Contributions as Roth Contributions ("Roth Catch-Up Contributions"). Any election by such Participant to make Catch-Up Contributions shall be deemed to be an election to make Roth Catch-Up Contribution, unless such Participant changes or suspends his election.

Each Participant's Pre-Tax Contribution shall be contributed to the Trust Fund by the Employer. Each such election shall be made pursuant to the provisions of Section 3.4 and shall continue in effect during subsequent Plan Years unless the Participant shall notify the Committee in the manner hereinafter provided of his election to change or discontinue his Pre-Tax Contribution rate as provided in Section 4.8. Each Participant's Pre-Tax Contribution Account shall be fully vested and non-forfeitable at all times.

In the event a Participant's Pre-Tax Contributions exceed the applicable limit described in the first paragraph of this Section, or in the event the Participant submits a written claim to the Committee, at the time and in the manner prescribed by the Committee, specifying an amount of Pre-Tax Contributions that will exceed the applicable

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limit of Section 402(g) of the Code when added to amounts deferred by the Participant in other plans or arrangements, such excess (the "Excess Deferrals"), plus any income and minus any loss attributable thereto for the Plan Year in which the Excess Deferral occurred, shall be returned to the Participant no later than required under the Code and applicable regulations thereunder during the following year. The amount of any Excess Deferrals to be distributed to a Participant for a taxable year shall be reduced by excess Pre-Tax Contributions previously recharacterized or distributed pursuant to Article XIII for the Plan Year beginning in such taxable year. The income or loss attributable to the Participant's Excess Deferral for the Plan Year shall be determined by multiplying the income or loss attributable to the Participant's Pre-Tax Contribution Account balance for the Plan Year (or relevant portion thereof) by a fraction, the numerator of which is the Excess Deferral and the denominator of which is the Participant's total Pre-Tax Contribution Account balance as of the Valuation Date next preceding the date of return of the Excess Deferral. For these purposes, distribution of an Excess Deferral on or before the 15th day of a calendar month shall be treated as having been made on the last day of the preceding month, and a distribution made thereafter shall be treated as having been made on the first day of the next month. Excess Deferrals shall be treated as Annual Additions under Article V of the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Eligible Automatic Contribution Arrangement</u>. Notwithstanding the provisions of Section 4.1(a), an Eligible Employee who is initially employed or is reemployed by an Employer on or after the Effective Date (an "Automatic Enrollment Employee") shall automatically be enrolled in the Plan to make Pre-Tax Contributions effective 35 days after the Automatic Enrollment Employee has been provided a notice of such enrollment by the Company, in the form and manner prescribed by the Committee (such period, the "Automatic Contribution Notice Period"). The automatic contributions to the Plan made pursuant to this Section 4.1(b) are intended to meet the requirements of an "Eligible Automatic Contribution Arrangement" under Code Section 414(w). An Automatic Enrollment Employee who is automatically enrolled in the Plan pursuant to this Section 4.1(b) shall be deemed to have elected to defer, as Pre-Tax Contributions to the Trust Fund ("Automatic Contributions"), in an initial amount equal to 3% of the Participant's Compensation for each pay period that occurs on and after the automatic enrollment date with such Automatic Contributions increasing by 1% on each subsequent April 1 occurring on or after April 1, 2022 up to a maximum of 7% of the Participant's Compensation; provided, however, that in the event the Participant's date of hire or rehire is within six months prior to April 1, such Participant's Automatic Contribution percentage shall not begin increasing until the subsequent April 1. An Automatic Enrollment Employee's Automatic Contributions shall continue unless and until a new election becomes effective as described below. If the Automatic Enrollment Employee has not provided any investment direction pursuant to Section 9.3 of the Plan with respect to the Participant's Automatic Contributions, such contributions (and any Employer Matching Contributions made thereon) shall automatically be invested in the Default Investment Fund.

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The foregoing notwithstanding, if an Automatic Enrollment Employee affirmatively elects, in the form and manner prescribed by the Committee, during the Automatic Contribution Notice Period (i) not to make any contributions to the Plan or (ii) to make Pre-Tax Contributions, Roth Contributions and/or After-Tax Contributions in any percentage under Section 4.4, then no Automatic Contributions shall be made by such Automatic Enrollment Employee. An Automatic Enrollment Employee who elects not to make Automatic Contributions or elects to cease such contributions to the Plan may elect at any time thereafter to defer a percentage of his Compensation as Pre-Tax Contributions, Roth Contributions and/or After-Tax Contributions in accordance with Sections 4.1(a), 4.3 or 4.4, respectively, in the form and manner prescribed by the Committee for such contributions, provided he is eligible to participate in the Plan pursuant to Section 3.1. Once an Automatic Enrollment Employee's Automatic Contributions commence, such contributions shall continue in effect until the Automatic Enrollment Employee gives timely notice of his election to cease making the Contribution or to make Pre-Tax Contributions, Roth Contributions and/or After-Tax Contributions at a different percentage of his Compensation as provided in the foregoing paragraph.

Effective June 3, 2023, an "Automatic Enrollment Employee" shall include an Eligible Employee as of such date who is not making any contributions to the Plan and who has not affirmatively elected within six months prior to such date not to make contributions to the Plan. For the avoidance of doubt, this provision is intended to only result in the one-time re-solicitation of such Eligible Employees.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.2 <u>Employer Profit Sharing Contributions</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Salaried Participants</u>. Each Employer may, in its sole discretion, elect to make an Employer Profit Sharing Contribution to the Trust Fund for any Plan Year with respect to each Salaried Participant who performs more than 1,000 Hours of Service for the Employer during a Plan Year and who is employed by the Employer on the last day of the Plan Year; *provided, however*, that a Salaried Participant who is on an approved Leave of Absence or receiving workers' compensation benefits as of such date, shall not be deemed to have terminated employment with the Employer for purposes of this Section 4.2. Such contribution shall be made in such amount as the board of directors of the Employer, in its sole discretion, may authorize and direct from time to time as it deems appropriate or advisable, on behalf of Salaried Participants who are (i) Salaried Employees who meet the eligibility requirements of Section 3.1(c) and (ii) in the Service of an Employer as of the last day of such Plan Year. Such contribution, if any, shall be shall be allocated to a Participant's Employer Profit Sharing Account in accordance with Section 5.2 and deemed made on account of a Plan Year if the board of directors of the Employer determines and approves the amount of such Employer Profit Sharing Contribution by appropriate action and designates such amount in writing to the Trustee as payment on account of such Plan Year.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Hourly Participants</u>. Each Employer may, in its sole discretion, elect to make an Employer Profit Sharing Contribution to the Trust Fund for any Plan Year with

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respect to each Hourly Participant who performs more than 1,000 Hours of Service for the Employer during a Plan Year and who is employed by the Employer on the last day of the Plan Year; *provided, however*, that an Hourly Participant who is on an approved Leave of Absence or receiving workers' compensation benefits as of such date, shall not be deemed to have terminated employment with the Employer for purposes of this Section 4.2. Such contribution shall equal the product of an amount determined by the Employer multiplied by the number of Hours of Service performed by each eligible Hourly Participant during the Plan Year up to a maximum of 2,000 Hours of Service for the Plan Year and divided by the total of such Hours of Service during such Plan Year for all Hourly Participants. Such contribution, if any, shall be allocated to a Participant's Employer Profit Sharing Account in accordance with Section 5.2 and deemed made on account of a Plan Year if the board of directors of the Employer determines and approves the amount of such Employer Profit Sharing Contribution by appropriate action and designates such amount in writing to the Trustee as payment on account of such Plan Year. The foregoing to the contrary notwithstanding, except as otherwise provided in *Appendix A*, an Hourly Employee eligible for Employer Matching Contributions under *Appendix A* for any portion of a Plan Year shall not be eligible for Employer Profit Sharing Contributions under this Section 4.2(b) for such portion of that Plan Year.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Timing of Employer Profit Sharing Contributions</u>. All Employer Profit Sharing Contributions made by the Employer pursuant to this Section 4.2 shall be paid to the Trustee not later than the time prescribed by law for filing the federal income tax return of the Employer, including any extension which has been granted for the filing of such tax return. The Committee shall be immediately advised in writing of the amount of such contribution.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.3 <u>Roth Contributions.</u> A Participant may irrevocably elect, in the form and manner prescribed by the Committee, to treat any whole percentage of his Compensation for a payroll period that the Participant would otherwise be eligible to defer as Pre-Tax Contributions under Section 4.1, as designated Roth contributions, as defined in Section 402A(c)(1) of the Code, with such contributions referred to as "Roth Contributions." This Section 4.3 is intended to meet the requirements of a Qualified Roth Contribution Program under Section 402A of the Code and the applicable regulations and guidance issued thereunder. A Participant's Roth Contributions shall be in lieu of (and not in addition to) all or a portion of the Participant's Pre-Tax Contributions for a payroll period and when combined with the Participant's Pre-Tax Contributions shall not exceed Section 402(g) of the Code. Roth Contributions shall be paid to the Trustee as soon as practicable after the end of the applicable payroll period. Unless otherwise expressly provided in the Plan with respect to Roth Contributions, for purposes of the Plan, Roth Contributions shall be considered, treated and subject to the same requirements as Pre-Tax Contributions, including, but not limited to, the requirements in Section 4.1 and for purposes of Employer Matching Contributions, except that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) A Roth Contribution election shall be a separate election. A Participant may change his Roth Contribution percentage or cease making Roth Contributions in the same

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manner as the Participant is permitted to make such changes for Pre-Tax Contributions under the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) QNECs made to the Plan under Section 4.5 shall be limited solely to Pre-Tax Contributions.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Roth Contributions (including earnings thereon) will be eligible for loans under Section 6.7.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) For purposes of withdrawals under Article VI, Roth Contributions (including earnings thereon) shall be eligible solely for age 59½ withdrawals under Section 6.2.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) Provided the requirements of Section 402A of the Code and the applicable regulations and guidance issued thereunder are satisfied, payment or distribution of amounts from a Participant's Roth Contribution Account shall be treated as "Qualified Distributions" within the meaning of Section 402A(d)(2) of the Code.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) If the Committee determines that a Participant's deferrals under the Plan should be reduced, or may be increased, as provided in Article XIII, the Committee may permit the Participant to designate the application of such reduction or increase between the Participant's Roth Contribution percentage and Pre-Tax Contribution percentage, if applicable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) If a Participant has made Roth Contributions and/or Pre-Tax Contributions during a Plan Year and Excess Contributions are distributable to the Participant under Section 5.3 for such Plan Year, the Participant may elect to what extent the Excess Contribution is distributed from the Participant's Roth Contributions and/or Pre-Tax Contributions deferred in such Plan Year.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) The Plan may accept a rollover contribution to a Roth Rollover Account only if it is a direct rollover from another Roth contribution account under an applicable retirement plan described in Section 402A(e)(1) of the Code and only to the extent the rollover is permitted under the rules of Section 402(c) of the Code and subject to the applicable provisions of Section 4.11. The foregoing notwithstanding, no such rollover contribution may be transferred to the Plan without the prior approval of the Committee, in the form and manner prescribed by the Committee, and the Committee may require such information from an Employee desiring to make such a transfer as it deems necessary or desirable. The Committee may act in its sole discretion in determining whether to accept the transfer, and shall act in a uniform, nondiscriminatory manner in this regard.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.4 <u>After-Tax Contributions.</u> Eligible Employees may elect to make After-Tax Contributions under the Plan for any Plan Year, subject to the limitations of this Section 4.4 and in other provisions of the Plan. Eligible Employees may elect to so contribute each pay period a portion of the Participant's Compensation in the form of After-Tax Contributions in whole percentages of not less than 1% nor more than 10% of the Compensation paid to the Participant

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## during such pay period and, unless otherwise provided by the Committee, an additional contribution from the last pay check of any calendar quarter; *provided, however,* that the total After-Tax Contributions under this Section 4.4 for any Plan Year shall not exceed 10% of the Participant's Compensation for the Plan Year. None of the After-Tax Contributions will be deemed deductible for federal income tax purposes.
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.5 <u>Qualified Non-Elective Contributions.</u> The Employer may, in its sole discretion, make qualified non-elective contributions, as defined in Treasury Regulation Sections 1.401(k) and 1.401(m) ("QNECs"), for a Plan Year in any amount necessary to satisfy or help to satisfy the Actual Deferral Percentage limit in Section 13.2 of the Plan or the Contribution Percentage limit in Section 13.5 of the Plan. QNECs may be used in lieu of, or in conjunction with, the reductions described in Sections 13.4 and 13.6 of the Plan. QNECs shall be allocated in a manner determined by the Employer among the Accounts of non-Highly Compensated Employees who were eligible to make Pre-Tax Contributions during the Plan Year for which the QNECs are made at any time during the Plan Year or no later than 12 months after the end of the Plan Year. QNECs shall be considered Pre-Tax Contributions and shall be subject to the same limitations as to withdrawal and distribution as Pre-Tax Contributions. QNECs shall be nonforfeitable and 100% vested at all times. For any portion of a QNEC taken into account for purposes of the Actual Contribution Percentage limit, such portion may not be taken into account for purposes of the Actual Deferral Percentage limit.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.6 <u>Payment and Deductions of Pre-Tax, Roth and After-Tax Contributions.</u> A Participant's deferrals and contributions under Sections 4.1, 4.3 and 4.4 shall be deducted by his Employer on each pay period from the Compensation paid to such Participant for that period and paid to the Trustee as soon as administratively feasible after the end of the pay period for which the deferral or contribution relates.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.7 <u>Contributions to be Tax Deductible.</u> Contributions to the Plan shall not be made in excess of the amount deductible under applicable federal law now or hereafter in effect limiting the allowable deduction for contributions to profit-sharing plans. Contributions to the Plan, when taken together with all other contributions made by the Employer to other qualified retirement plans, shall not exceed the maximum amount deductible under Section 404 of the Code.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.8 <u>Change of Elections and Suspension of Allotments.</u> Any Participant may increase or decrease the percentage of his Compensation designated as Pre-Tax Contributions, Roth Contributions and/or After-Tax Contributions, or suspend such contributions entirely, with any such change to be effective as soon as reasonably practicable following receipt of the change of elections, in the manner prescribed by the Committee in its sole discretion. In the case of total suspension of Pre-Tax Contributions and Roth Contributions, the Employer Matching Contribution will automatically cease. Pre-Tax, Roth or After-Tax Contributions which are not made during a period of suspension shall not be made retroactively.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.9 <u>Application of Funds.</u> The Trustee shall hold or apply the Contributions so received by it subject to the provisions of the Plan; and no part thereof (except as otherwise provided in the Trust Agreement) shall be used for any purpose other than the exclusive benefit of the Participants or their Beneficiaries.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.10 <u>Disposition of Forfeitures.</u> In any case in which a Participant is not entitled to the full amount in his Employer Profit Sharing Account or Employer Matching Contribution Account, the amount to which he is not entitled shall be forfeited, and shall be allocated in the following order:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) First, such Forfeitures shall be allocated to reinstate any Employer Profit Sharing Accounts and/or Employer Matching Contribution Accounts of Participants who return to Service and are entitled to account reinstatement in accordance with Section 7.4.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Second, such Forfeitures shall be applied to restore any amounts forfeited under the unclaimed benefits provisions of Section 11.11.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Third, such Forfeitures shall be applied against the next succeeding Employer Matching Contributions and/or Employer Profit Sharing Contributions and/or used to pay expenses of the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.11 <u>Rollover Contributions.</u> An Eligible Employee may file with the Committee a written request that the Trustee accept a Rollover Contribution from such Employee. The acceptance of a Rollover Contribution under this Section shall be subject to the following conditions:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Rollover Contribution shall be in cash or, in connection with a merger, acquisition or other business transaction involving an Employer or Affiliate, as determined and permitted by the Committee, in its discretion, an in kind Direct Rollover (as defined in Section 8.5) of a plan loan from an Eligible Retirement Plan (as defined in Section 8.5(b)) that is a qualified plan under Code Section 401(a), subject to the procedures and requirements prescribed by the Committee pursuant to subsection (b) of this Section 4.11.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) No Rollover Contribution may be transferred to the Plan without the prior procedural approval of the Committee or its delegate. The Committee or its delegate shall develop such procedures and may require such information from an Employee desiring to make such a transfer as it deems necessary or desirable. The Committee or its delegate may act in its sole discretion in determining whether to accept the transfer, and shall act in a uniform, non-discriminatory manner in this regard.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Upon approval by the Committee or its delegate, a Rollover Contribution shall be paid to the Trustee to be held in the Trust Fund.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) A separate Rollover Account shall be established and maintained for each Employee's Rollover Contribution. A Rollover Account shall be invested in the Investment Funds and/or the Company Stock Fund as elected by the Employee (or the Default Investment Fund if such Employee fails to make a proper investment election).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) The Employee's interest in his Rollover Account shall be fully vested and non-forfeitable. If an Eligible Employee who has not yet begun making Pre-Tax

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Contributions, Roth Contributions or After-Tax Contributions under Section 3.1(b) of the Plan or receiving Employer Profit Sharing Contributions under Section 3.1(c) of the Plan or Employer Matching Contributions under Section 3.1(d) of the Plan makes a Rollover Contribution to the Plan, his Rollover Account shall represent his sole interest in the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) The Committee or its delegate shall be entitled to rely on the representation of the Employee that the Rollover Contribution is an "eligible rollover distribution" within the meaning of Code Section 402(c)(4). If, however, it is determined that a transfer received from or on behalf of an Employee failed to qualify as an eligible rollover distribution, then the balance in the Employee's Rollover Account attributable to the ineligible transfer shall, along with any earnings thereon, as soon as is administratively practicable, be:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) segregated from all other Plan assets;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) treated as a non-qualified trust established by and for the benefit of the Participant; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) distributed to the Employee.

Such an ineligible transfer shall be deemed never to have been a part of the Plan or Trust.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) A rollover of after-tax contributions, and the earnings thereon, is not permitted.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) A rollover of Pre-Tax Contributions shall be to a Pre-Tax Rollover Account separate from a Participant's Roth Rollover Account.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) A rollover of Roth Contributions shall be to a Roth Rollover Account separate from a Participant's Pre-Tax Rollover Account.

The Rollover Account shall not share in Employer Contribution allocations. Upon termination of employment, the total amount of the Rollover Account shall be distributed in accordance with Article VIII. Notwithstanding anything in the Plan to the contrary, no such transfer of a Rollover Contribution shall include a transfer of benefits from a defined benefit plan or from a defined contribution plan subject to Code Section 412.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.12 <u>Refunds to Employer.</u> Once Contributions are made to the Plan by the Employer on behalf of the Participants, they are not refundable to the Employer unless a Contribution:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) was made by mistake of fact; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) was made conditioned upon the contribution being allowed as a deduction and such deduction was disallowed.

Any Contribution made by the Employer during any Plan Year in excess of the amount deductible or any Contribution attributable to a good faith mistake of fact shall be refunded

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to the Employer. The amount which will be returned to the Employer is the excess of the amount contributed over the amount that would have been contributed had there not occurred a mistake of fact or the excess of the amount contributed over the amount deductible, as applicable. A Contribution made by reason of a mistake of fact may be refunded only within one year following the date of payment. Any Contribution to be refunded because it was not deductible under Section 404 of the Code may be refunded only within one year following the date the deduction was disallowed. Earnings attributable to any such excess Contribution may not be withdrawn, but losses attributable thereto must reduce the amount to be returned. In no event may a refund be due which would cause the Account balance of any Participant to be reduced to less than the Participant's Account balance would have been had the mistaken amount, or the amount determined to be non-deductible, not been contributed.

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# <u>ARTICLE V</u> <br><u>PARTICIPANT ACCOUNTS</u> 
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.1 <u>Individual Accounts.</u> The Committee shall create and maintain adequate records to disclose the interest in the Trust Fund and in its component Investment Funds and the Company Stock Fund of each Participant, former Participant and Beneficiary. Such records shall be in the form of individual Accounts and credits and charges shall be made to such Accounts in the manner herein described. Except as provided below, a Participant may have the following separate categories of Accounts: (i) a Pre-Tax Contribution Account; (ii) an After-Tax Contribution Account; (iii) an Employer Profit Sharing Account; (iv) a Frozen Matching Contribution Account; (v) a Roth Contribution Account; (vi) a Pre-Tax Rollover Account; and (vii) a Roth Rollover Account. The maintenance of individual Accounts is only for accounting purposes, and a segregation of the assets of the Trust Fund to each Account shall not be required. Distribution and withdrawals made from an Account shall be charged to the Account as of the date paid. A Participant who is a Wildcat Participant (as defined in *Appendix B* of the Plan) may also have a frozen Wildcat Employer Matching Contribution Account (as defined in *Appendix B* of the Plan).

With respect a Merged Plan, the amounts in a Participant's pre-tax contribution account, after-tax contribution account, Roth contribution account, pre-tax rollover account and Roth rollover account as of the merger date shall be transferred to, and become a part of, such Participant's Pre-Tax Account, After-Tax Account, Roth Contribution Account, Pre-Tax Rollover Account and Roth Rollover Account.

If a Participant incurs five (5) consecutive Breaks in Service and subsequently reenters the Plan as a Re-Employed Employee (as defined in Section 3.5) prior to the time that he has received a distribution or been deemed to have received a distribution hereunder equal to 100% of his vested Account balance, determined as of the last day of the Plan Year in which he incurred the last of such 5 consecutive Breaks in Service, the Committee may, in its discretion, maintain, or cause to be maintained, separate Employer Contribution Accounts for the Participant's pre-Breaks in Service Account balances attributable to Employer Contributions and Forfeitures, and separate Employer Contribution Accounts for his post-Breaks in Service Account balances attributable to the Employer Contributions and Forfeitures unless the Participant's entire Account balance under the Plan is 100% vested at the time he incurs the last of such 5 consecutive Breaks in Service.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.2 <u>Account Allocations and Adjustments.</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Pre-Tax Contributions, Roth Contributions and After-Tax Contributions</u>. Pre-Tax Contributions, Roth Contributions and After-Tax Contributions received in the Trust Fund since the preceding Valuation Date shall be credited to the respective Pre-Tax Contribution Accounts, Roth Contribution Accounts and After-Tax Contribution Accounts of the Participants, and invested in the Investment Funds and Company Stock Fund in accordance with their instructions pursuant to Section 9.3.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Employer Profit Sharing Contributions</u>. Employer Profit Sharing Contributions received in the Trust Fund for a Plan Year shall be allocated and credited to the Employer Profit Sharing Account of an eligible Participant for such Plan Year, as in defined in Section 4.2; *provided, however*, that with respect to Employer Profit Sharing Contributions for Salaried Participants under Section 4.2(a), (i) Compensation shall not include any Compensation earned prior to the Salaried Participant's Entry Date and (ii) in the case of reemployment during such Plan Year, for that Plan Year Compensation shall include only Compensation earned during the period of employment commencing with his reemployment and ending with the last day of such Plan Year.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Employer Matching Contributions</u>. Employer Matching Contributions received in the Trust Fund for a Plan Year shall be allocated and credited to the Employer Matching Contribution Account of an eligible Participant for such Plan Year based on the percentage of each such Participant's eligible Pre-Tax Contributions and/or Roth Contributions, as determine pursuant to *Appendix A*, and invested in the Investment Funds and Company Stock Fund in accordance with the Participant's instructions pursuant to Section 9.3 of the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) <u>Forfeitures</u>. Forfeitures which have become available for reallocation or restoration shall be applied pursuant to Section 4.10.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) <u>Adjustments</u>. As of each Valuation Date, all payments and distributions made under the Plan since the immediately preceding Valuation Date to or for the benefit of a Participant or his Beneficiary and any withdrawals by a Participant pursuant to Article VIII will be charged to the proper Account of such Participant unless previously charged.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.3 <u>Limitations on Contributions.</u> Notwithstanding any provision of the Plan to the contrary, except as otherwise provided in this Section, total Annual Additions made to the Account of a Participant for a Limitation Year shall not exceed the "Maximum Permissible Amount, "which is the lesser of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) $70,000, as adjusted pursuant to Code Section 415(d) and Treasury Regulation Section 1.415(d)-1(b); or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) 100% of the Participant's Compensation for the Limitation Year.

For purposes of determining whether the Annual Additions under the Plan exceed the Maximum Permissible Amount, all defined contribution plans of the Employer are to be treated as one defined contribution plan.

In accordance with Treasury Regulation Section 1.415(a)-1(d)(3), the Plan incorporates by reference the limitations on contributions under Code Section 415 and as provided under Treasury Regulation Section 1.415(c)-1 *et seq*. (as may be revised or amended from time to time by the Internal Revenue Service). Unless otherwise provided in this Section, the default rules under Code Section 415 Treasury Regulations shall apply with respect to the limitations under this Section.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Definitions</u>. For purposes of this Section, the following terms shall have the following meanings:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) <u>Employer.</u> The Company and any other Employer that adopts the Plan; *provided, however*, that in the case of a group of employers which constitutes a controlled group of corporations (as defined in Code Section 414(b), as modified by Code Section 415(h)) or which constitutes trades and businesses (whether or not incorporated) which are under common control (as defined in Code Section 414(c) as modified by Code Section 415(h)) or an affiliated service group (as defined in Code Section 414(m)), all such employers shall be considered a single employer for purposes of applying the limitations of this Section for any portion of a Limitation Year during which such employers were so controlled or affiliated.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) <u>Limitation Year.</u> A 12-consecutive month period ending on December 31.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) <u>Compensation.</u> For purposes of this Section, Compensation shall *include* wages, salaries, fees for professional services and other amounts received (without regard to whether or not an amount is paid in cash) for personal services actually rendered in the course of employment with the Employer maintaining the Plan to the extent that such amounts are includable in gross income (or to the extent amounts that would have been received and includible in gross income but for an election by the Participant under Code Sections 125(a), 132(f)(4), 402(e)(3), 402(h)(1)(B), 402(k) or 457(b)), including, but not limited to, commissions paid to salesmen, compensation for services on the basis of a percentage of profits, commissions on insurance premiums, tips, bonuses, fringe benefits and reimbursements or other expense allowances under a nonaccountable plan as described in Treasury Regulation § 1.62-2(c); but *exclude*:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) Contributions (other than elective contributions described in Code Sections 402(e)(3), 408(k)(6), 408(p)(2)(A)(i) or 457(b)) made by the Employer to a plan of deferred compensation (including a simplified employee pension described in Code Section 408(k) or a simple retirement account described in Code Section 408(p), whether or not qualified) to the extent the contributions are not included in the gross income of the Participant for the taxable year in which contributed, and any distributions from a plan of deferred compensation (whether or not qualified) regardless of whether such amounts are includable in the gross income of the Participant when distributed;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) Amounts realized from the exercise of a nonstatutory option (which is an option other than a statutory option as defined in Treasury Regulation Section 1.421-1(b)) or when restricted stock or other property held by a Participant becomes freely transferable or is no longer subject to a substantial risk of forfeiture under Code Section 83 and the Treasury Regulations thereunder;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) Amounts realized from the sale, exchange or other disposition of stock acquired under a statutory stock option (within the meaning of Treasury Regulation Section 1.421-1(b));

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) Other amounts which receive special tax benefits, such as, for example, premiums for group-term life insurance, to the extent such amounts are not includible in the gross income of the Participant and are not salary reduction amounts under Code Section 125; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5) Other items of remuneration that are similar to the items listed above in clauses (ii)(1) through (4).

In addition to the foregoing, Compensation included for the Limitation Year in accordance with the timing rules under the provisions in Treasury Regulation Section 1.415(c) 2(e)(1), *includes*:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) Amounts paid after a Participant's severance from employment for services during the Participant's regular working hours or outside the Participant's regular working hours (such as overtime or shift differential), commissions, bonuses, or other similar payments if (1) such amount would have been paid to the Participant prior to his severance from employment if he had continued in employment with the Employer (that has adopted the Plan) and (2) such amount is paid by the later of 2½ months after the Participant's severance from employment with the Employer or the end of the Limitation Year that includes the date of such severance from employment;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) Amounts earned, but not paid, during a Limitation Year solely because of the timing of the pay periods, provided that such amounts are (1) paid during the first few weeks of the next Limitation Year, (2) included on a uniform and consistent basis with respect to all similarly situated Employees, and (3) not included in more than one Limitation Year; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) Amounts paid for unused accrued bona fide sick, vacation, or other leave, but only if the Participant would have been able to use the leave if his employment had continued, and/or (ii) amounts received by the Participant pursuant to a nonqualified unfunded deferred compensation plan, but only if in either case the payment would have been paid to the Participant at the same time if the Participant had continued in employment with the Employer (that has adopted the Plan) and only to the extent that the payment is includible in the Participant's gross income, provided that such amounts (1) are paid by the later of 2½ months after severance from employment with the Employer or the end of the Limitation Year that includes the date of such severance from employment and (2) would have

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been included in the definition of Compensation if such amounts were paid prior to the Participant's severance from employment with the Employer.

The foregoing notwithstanding, for purposes of this Section, Compensation shall not exceed the limitation under Code Section 401(a)(17)(A), as adjusted for cost-of-living increases pursuant to Code Section 401(a)(17)(B), but shall not be limited to the earliest payments made to or on behalf of a Participant with respect to a Limitation Year.

Compensation shall include "differential wage payments," as defined in Section 340(h) of the Code.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) <u>Annual Additions</u>: With respect to each Limitation Year, to the extent allocated to a Participant's Account in accordance with the timing rules of Treasury Regulation Section 1.415(c)-1(b)(6), the total of the Participant's Employer Profit Sharing Contributions, Pre Tax Contributions, After Tax Contributions, Forfeitures, amounts described in Code Sections 415(l) and 419A(d)(2), and amounts allocated to a Participant's Account under a corrective amendment that complies with the requirements of Treasury Regulation Section 1.401(a)(4)-11(g); but excluding Catch-Up Contributions made pursuant to Section 4.1, Rollover Contributions contributed pursuant to Section 4.11, restorative payments described in Treasury Regulation Section 1.415(c)-1(b)(2)(ii)(C), Excess Deferrals distributed in accordance with Section 4.1 and Treasury Regulation Section 1.402(g)-1(e)(2) or (3), and such other amounts specifically excluded under Treasury Regulation Section 1.415(c)-1(b)(3). Contributions made with respect to Qualified Military Service in accordance with Section 3.10 shall be considered an Annual Addition for the Limitation Year to which the Contribution relates.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) <u>Prospective Reduction of Participant Contributions</u>. If during a Limitation Year the Committee determines that the Maximum Permissible Amount will be exceeded for the Limitation Year, the Pre-Tax, Roth and/or After-Tax Contribution elections of affected Participants may be (but is not required to be) reduced by the Committee on a temporary and prospective basis in such manner as the Committee will determine.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) <u>Excess Amounts and EPCRS</u>. To the extent a Participant's Annual Additions for a Limitation Year exceed the Participant's Maximum Permissible Amount, except as otherwise permitted under the Treasury Regulations or other guidance issued by the Internal Revenue Service, such result shall be corrected in accordance with procedures available under the Internal Revenue Service's Employee Plans Compliance Resolution System in effect at the time of the correction.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.4 <u>Valuation of Trust Fund.</u> A valuation of the Trust Fund shall be made as of each Valuation Date and on any other date during the Plan Year that the Committee deems a valuation to be advisable. Any such interim valuation shall be exercised on a uniform and non-discriminatory basis. For the purposes of each valuation, the assets of the Trust Fund shall be valued at the respective current market values, and the amount of any obligations for which the

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## Trust Fund may be liable, as shown on the books of the Trustee, shall be deducted from the total value of the assets. For the purposes of maintenance of books of account in respect of properties constituting the Trust Fund, and of making any such valuation, the Trustee shall account for the transactions of the Trust Fund on a modified cash basis.
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.5 <u>Recognition of Different Funds.</u> As provided in Article IX, Investment Funds and the Company Stock Fund shall be established, and each Participant shall direct, within the limitations set forth in Sections 9.3 and 9.4, what portion of the balance in his Accounts shall be deposited in each Investment Fund and the Company Stock Fund. Consequently, when appropriate, a Participant shall have a Pre-Tax Contribution Account, Roth Contribution Account, an After-Tax Contribution Account, an Employer Profit Sharing Account and a Rollover Account in each such Investment Fund and the Company Stock Fund and the allocations described in Section 5.2 shall be adjusted in such manner as is appropriate to recognize the existence of the Investment Funds and the Company Stock Fund. Because Participants have a choice of Investment Funds and the Company Stock Fund, any reference in the Plan to a Pre-Tax Contribution Account, a Roth Contribution Account, an After-Tax Contribution Account, an Employer Profit Sharing Account or a Rollover Account shall be deemed to mean and include all accounts of a like nature which are maintained for the Participant under each Investment Fund and the Company Stock Fund.

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# <u>ARTICLE VI</u> <br><u>VOLUNTARY WITHDRAWALS</u> 
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.1 <u>Withdrawal from After-Tax Contribution Account.</u> A Participant who has not terminated Service, in accordance with such administrative procedures adopted by the Committee in its sole discretion, shall be entitled to withdraw from his After-Tax Contribution Account (valued as of the Valuation Date next preceding the withdrawal), any amount up to but not to exceed the balance of such Account as of such date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.2 <u>Withdrawal from Pre-Tax Contribution Account and Roth Contribution Account.</u> Any Participant who has attained age 59½ and who has not terminated Service, in accordance with such administrative procedures adopted by the Committee in its sole discretion, shall be entitled to withdraw from his Pre-Tax Contribution Account and Roth Contribution Account (valued as of the Valuation Date next preceding the withdrawal), any amount up to but not to exceed the balance of such Account as of such date. A withdrawal from the Pre-Tax Contribution Account and Roth Contribution Account under this Section shall not affect the Participant's remaining rights hereunder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.3 <u>Withdrawal from Employer Profit Sharing Account for Salaried Participants</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Employer Profit Sharing Contributions Contributed Before June 1, 2007</u>. A Salaried Participant may, in accordance with administrative procedures adopted by the Committee in its sole discretion, elect to withdraw a portion of the balance of his Employer Profit Sharing Account attributable to Employer Profit Sharing Contributions contributed to the Salaried Plan prior to June 1, 2007 while in the Service of the Employer, in accordance with the following provisions:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) A Salaried Participant who has completed less than 11 Years of Vesting Service, may not withdraw any amounts then credited to his Employer Profit Sharing Account.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) Subject to subparagraphs (iv) and (v) below, a Salaried Participant who has completed 11 or more Years of Vesting Service but less than 16 Years of Vesting Service may elect to withdraw an amount not greater than 15% of his Employer Profit Sharing Account balance, determined as of the Valuation Date on which the withdrawal is made, less an amount equal to the sum of all of his prior withdrawals from this Section.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) Subject to subparagraphs (iv) and (v) below, a Salaried Participant who has completed 16 Years of Vesting Service or more, may elect to withdraw an amount not greater than 30% of his Employer Profit Sharing Account balance, determined as of the Valuation Date on which the withdrawal is made, less an amount equal to the sum of all of his prior withdrawals from this Section.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) No withdrawals may be made under this Section which would result in reducing a Participant's Employer Profit Sharing Account balance to less than an amount equal to the Employer Contributions credited to the Participant's Employer Profit Sharing Account during the 24-month period immediately preceding the first day of the Plan Year as of which such withdrawal is effective and payable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) No withdrawal may be made under this Section by a Participant to whom a loan has been made under Section 6.7, if as a result of such withdrawal the outstanding balance due (including accrued interest thereon) on such loan would exceed the amount of the Participant's Employer Profit Sharing Account balance and Frozen Employer Matching Contribution Account balance as of the Valuation Date on which the withdrawal is made.

Payments of any amounts withdrawn pursuant to an election made under this Section 6.3(a) will be made to the Participant as soon as practicable after notice of such election is received by the Committee. A Participant shall not be permitted to recontribute to or redeposit in his Accounts any portion of the amounts withdrawn pursuant to this Section.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Employer Profit Sharing Contributions Contributed On or After June 1, 2007</u>. The foregoing notwithstanding, while in the Service of the Employer, a Salaried Participant shall not be permitted to withdraw any portion of the balance of his Employer Profit Sharing Account attributable to Employer Profit Sharing Contributions contributed to the Plan on or after June 1, 2007, except as provided in Sections 6.7 and 6.8.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.4 <u>Hardship Withdrawals.</u> A Participant who has not terminated Service may, in accordance with such administrative procedures as may be adopted by the Committee in its sole discretion, at any time file with the Committee an appropriate written request for a hardship withdrawal from his Pre-Tax Contribution Account and Roth Contribution Account, including for a hardship withdrawal made on or after January 1, 2019, including any Income of the Trust Fund allocated to his Pre-Tax Contribution Account and Roth Contribution Account under the Plan or the Prior Plan, as applicable (but excluding any such Income for such distributions made on or after January 1, 1989 but prior to January 1, 2019). The approval or disapproval of such request shall be within the sole discretion of the Committee. A Participant must first withdraw any available amount credited to his Employer Profit Sharing Account, After-Tax Contribution Account, and Rollover Account, if any, in order to be permitted to make a hardship withdrawal from his Pre-Tax Contribution Account or Roth Contribution Account and must also have taken all distributions and, for withdrawals prior to January 1, 2019, loans otherwise available under the Plan and all employee plans maintained by the Participant's Employer to the extent such loans would not themselves cause an immediate and substantial financial need. For hardship withdrawals on and after January 1, 2019, the Participant must represent in writing or electronic medium, in the form prescribed by the Committee, that the Participant insufficient cash or other liquid assets to satisfy the need (and for such withdrawals prior to January 1, 2019, the Participant must certify that he is facing a hardship creating an immediate and substantial financial need and that the resources necessary to satisfy that financial need are not reasonably available from other

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) To be considered a hardship for purposes of this Section, the event giving rise to the need for funds must relate to financial hardship resulting from:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) medical expenses (described in Code Section 213(d)) previously incurred by the Participant or the Participant's Spouse, dependents (as defined in Code Section 152) or designated primary Beneficiary or necessary for those persons to obtain medical care as evidenced by a written estimate thereof (determined without regard to whether the expenses exceed 7.5% of adjusted gross income);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) costs directly related to the purchase (excluding mortgage payments) of a principal residence for the Participant;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) payment for tuition for the next 12 months of post-secondary education for the Participant or the Participant's Spouse, children or dependents (as defined in Code Section 152, without regard to Code Section 152(b)(1), (b)(2) and (d)(1)(B));

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) payment necessary to prevent the eviction of the Participant from his principal residence or foreclosure on the mortgage of the Participant's principal residence;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) payment for burial or funeral expenses for the Participant's deceased parent, Spouse, children or dependents (as defined in Code Section 152, without regard to Code Section 152(d)(1)(B));

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vi) expenses for the repair of damage to the Participant's principal residence that would qualify for the casualty deduction under Code Section 165 (determined without regard to (determined without regard to Code Section 165(h)(5) and whether the loss exceeds 10% of adjusted gross income);

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vii) expenses and losses (including loss of income) incurred by the Participant on account of a disaster declared by the Federal Emergency Management Agency ("FEMA") under the Robert T. Stafford Disaster Relief and Emergency Assistance Act, Public Law 100–707, provided that the Participant's principal residence or principal place of employment at the time of the disaster was located in an area designated by FEMA for individual assistance with respect to the disaster; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(viii) any other event described by the Internal Revenue Service to be deemed to be a heavy and financial need.

A person shall be considered to be dependent on the Participant if the Participant certifies that he reasonably expects to be entitled to claim that person as a dependent for Federal income tax purposes for a calendar year coinciding with the Plan Year in which the certification of hardship is made**.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.5 <u>Rollover Account.</u> As of any Valuation Date, a Participant may withdraw an amount not in excess of the balance in his Rollover Account by requesting such a withdrawal in accordance with administrative procedures adopted by the Committee in its sole discretion. The actual payment of the amount to be withdrawn shall occur as soon as administratively practicable following the filing of the request with the Committee. The Valuation Date on which the withdrawal is processed shall determine the Participant's balance in his Rollover Account.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.6 <u>In-Service Withdrawal of Vested Account Balance.</u> A Participant who has not terminated Service and who has attained age 70½ may withdraw any or all of his vested Account balance, determined as of the Valuation Date on which the withdrawal is made, by requesting such a withdrawal in accordance with the administrative procedures adopted by the Committee in its sole discretion.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.7 <u>Loans to Participants.</u> Any Participant who is an Employee (including any such Participant on a Leave of Absence) may make application to borrow from his vested Accounts in the Trust Fund. In addition to Participants who are Employees (including any such Participant on Leave of Absence), loans shall be available to any "alternate payee" with respect to a Participant, but, if and only if, such person is a "party in interest" with respect to the Plan within the meaning of ERISA Section 3(14) and who must be eligible to obtain a Plan loan in order for exemptions set forth in Department of Labor Regulation Section 2550.408b-1 to apply to the Plan (herein, together with Participants who are Employees and those on Leave of Absence, collectively referred to as "Borrower"). Upon receipt of a loan application from a Borrower, the Committee may in its discretion direct the Trustee to make a loan to such Borrower. Such loans shall be granted in a uniform and non-discriminatory manner pursuant to the terms and conditions of a written loan procedure that shall be established by the Committee and subject to amendment from time to time and at any time by the Committee, with such written procedure hereby incorporated by reference as a part of the Plan. The amount of the loan when added to the amount of any outstanding loan or loans to the Borrower from any other plan of the Employer or an Affiliate which is qualified under Code Section 401(a) shall not exceed the lesser of (i) $50,000, reduced by the excess, if any, of the highest outstanding balance of loans from all such plans during the one year period ending

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## on the day before the date on which such loan was made over the outstanding balance of loans from the Plan on the date on which such loan was made, and further reduced by the amount of any prior loan that is deemed distributed under Code Section 72(p) and Treasury Regulation § 1.72(p)-1 and that has not been repaid (such as by a plan loan offset), or (ii) 50% of the present value of Borrower's vested Account balances under the Plan. Notwithstanding the foregoing, during the period March 27, 2020 through June 8, 2020, as permitted under Section 2202(b) of Coronavirus Aid, Relief and Economic Security Act, Pub. L. 116–136, with respect to a Participant who qualifies as a Qualified Individual, as defined in Section 6.9 of the Plan, the limit in clause (i) for the foregoing sentence shall be $100,000 (in lieu of $50,000) and the limit in clause (ii) of the foregoing sentence shall be 100 percent (in lieu of 50 percent).
In the event that a Participant takes a distribution from his vested Account under Section 8.1(c) in connection with a severance from employment related to his performance of service in the uniformed services, and such Participant has an outstanding loan under this Section 6.7, such Participant will only be entitled to receive a total distribution amount that is equal to the vested portion of such Participant's Account balance, minus the total balance of such outstanding loan. Such Participant's outstanding loan will be deemed to have been repaid as of the date of a distribution of the Participant's vested Account balance that is equal to such amount. If a Participant elects to take a distribution under the provisions of Section 8.1(c) that is less than such amount, the Participant will not be required to repay his loan in full at the time of the distribution and loan repayments will continue to be suspended in accordance with Section 414(u) of the Code; *provided*, *however*, that such Participant will not be entitled to withdraw the remaining vested portion of his Account balance until all outstanding loan amounts have been repaid to the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.8 <u>Qualified Reservists Withdrawal.</u> Notwithstanding any other provision of the Plan to the contrary, a Participant who is a member of a reserve component (as defined in Section 101 of Title 37 of the United States Code) who is ordered or called to active duty for a period in excess of 179 days, or for an indefinite period, may elect to receive a cash withdrawal of all or any portion of his Pre-Tax Contribution Account and, if applicable, Roth Contribution account. Any distribution made to a Participant pursuant to this Section must be made during the period beginning on the date of his order or call to active duty and ending on the close of his active duty period.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.9 <u>Coronavirus-Related Distribution.</u> Pursuant to Section 2202(a) of the Coronavirus Aid, Relief and Economic Security Act, Pub. L. 116-136 (the "CARES Act") and guidance issued by the Internal Revenue Service, during the period March 27, 2020 through December 30, 2020, a Participant who is a Qualified Individual, as defined below, may elect to withdraw up to $100,000 (or, if less, his vested Account balance) from his vested Account balance in the Trust Fund (or such lesser amount provided under Section 2202(a) of the CARES Act, with such amount to be determined solely by the Participant), determined as of the Valuation Date on which the withdrawal was made, by requesting such a withdrawal in accordance with the administrative procedures adopted by the Committee, in its sole discretion ("Coronavirus-Related Distribution"). A Participant may repay all or part of the amount of a Coronavirus-Related Distribution to the Plan within three years after the date that such distribution was received by the Participant, with such repayment deemed to be a Rollover Contribution and reflected in the Participant's Rollover

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## Account; provided, however, that the Participant is an active Employee at the date of such repayment. For purposes of this Section 6.9, a "Qualified Individual" under CARES Act and guidance issued by the Internal Revenue Service, is defined as an individual:
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) who is diagnosed with the virus SARS-CoV-2 or with coronavirus disease 2019 ("COVID-19") by a test approved by the Centers for Disease Control and Prevention (including a test authorized under the Federal Food, Drug, and Cosmetic Act); or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) whose spouse or dependent (as defined in Code Section 152) is diagnosed with COVID-19 by a test approved by the Centers for Disease Control and Prevention (including a test authorized under the Federal Food, Drug, and Cosmetic Act; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) who experiences adverse financial consequences as a result of: (x) the individual being quarantined, being furloughed or laid off, or having work hours reduced due to COVID-19; (y) the individual being unable to work due to lack of childcare due to COVID-19; or (z) closing or reducing hours of a business owned or operated by the individual due to COVID-19; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) who experiences adverse financial consequences as a result of: (x) the individual having a reduction in pay (or self-employment income) due to COVID-19 or having a job offer rescinded or start date for a job delayed due to COVID-19; (y) the individual's spouse or a member of the individual's household (as defined below) being quarantined, being furloughed or laid off, or having work hours reduced due to COVID-19, being unable to work due to lack of childcare due to COVID-19, having a reduction in pay (or self-employment income) due to COVID-19, or having a job offer rescinded or start date for a job delayed due to COVID-19; or (z) closing or reducing hours of a business owned or operated by the individual's spouse or a member of the individual's household due to COVID-19.

For purposes of applying clause (iv) above, a member of the individual's household is someone who shares the individual's principal residence.

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# <u>ARTICLE VII</u> <br><u>PARTICIPANTS' BENEFITS</u> 
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.1 <u>Normal Retirement Date.</u> Any Participant who terminates his Service on or after his Normal Retirement Date shall be vested in and entitled to receive the entire amount of his Account balance under the Plan. Upon termination of Service on or after his Normal Retirement Date for any reason, the Committee shall direct the Trustee to make payment of the entire balance of the Participant's Account to him at such time and in such manner as provided in Article VIII.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.2 <u>Disability of Participants.</u> If a Participant satisfies the definition of "Disability" under the Company's or an Employer's long-term disability plan (as applicable, the "LTD Plan") and commences to receive disability benefits thereunder, such Participant (a) to the extent not vested, shall be fully vested in the entire amount of his Account as of the date of the Disability and (b) shall be entitled to receive such amount at such time and in such manner as provided in Article VIII. The determination of whether a Participant has become "Disabled" under the LTD Plan by such disability plan's administrator shall be final and binding on all parties concerned.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.3 <u>Death of Participants.</u> In the event of the termination of Service of any Participant by death, and after receipt by the Committee of acceptable proof of death, in the form and manner determined by the Committee in its sole discretion, his Beneficiary shall be entitled to receive the entire amount in the Participant's Account balance under the Plan, with such Account balance fully vested as of the date of the Participant's death. Payment of benefits due under this Section shall be made at such time and in such manner as provided in Article VIII.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.4 <u>Other Termination of Service</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Distributions.</u> In the event of termination of Service of any Participant for any reason other than as provided in Section 7.1, 7.2 or 7.3, a Participant shall, subject to the further provisions of the Plan, be entitled to receive the entire amount credited to his After-Tax Contribution Account, Pre-Tax Contribution Account, Roth Contribution Account and Rollover Account, and the vested portion of his Employer Profit Sharing Account and his Employer Matching Contribution Account, as applicable, based upon his Years of Vesting Service, in accordance with the following schedules:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) Employer Profit Sharing Contributions for Salaried Participants made with respect to Plan Years beginning prior to January 1, 2007:

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| | |
|:---|:---|
| &nbsp;&nbsp;<u>Years of Vesting Service</u> | &nbsp;&nbsp;<u>Vested Percent</u> |
| &nbsp;&nbsp;Less than 2 | &nbsp;&nbsp;0% |
| &nbsp;&nbsp;2 | &nbsp;&nbsp;20% |
| &nbsp;&nbsp;3 | &nbsp;&nbsp;40% |
| &nbsp;&nbsp;4 | &nbsp;&nbsp;60% |
| &nbsp;&nbsp;5 | &nbsp;&nbsp;80% |
| &nbsp;&nbsp;6 | &nbsp;&nbsp;80% |
| &nbsp;&nbsp;7 or more | &nbsp;&nbsp;100% |

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) Employer Profit Sharing Contributions for Hourly Participants made with respect to Plan Years beginning prior to January 1, 2007 and Employer Matching Contributions made with respect to Plan Years beginning prior to January 1, 2002:

---

| | |
|:---|:---|
| &nbsp;&nbsp;<u>Years of Vesting Service</u><br>| &nbsp;&nbsp;<u>Vested Percent</u><br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Less than 5 | &nbsp;&nbsp;0% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5 or more | &nbsp;&nbsp;100% |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) Employer Profit Sharing Contributions for Salaried Participants made with respect to Plan Years beginning on and after January 1, 2007, but prior to January 1, 2019:

---

| | |
|:---|:---|
| &nbsp;&nbsp;<u>Years of Vesting Service</u> | &nbsp;&nbsp;<u>Vested Percent</u> |
| &nbsp;&nbsp;Less than 2 | &nbsp;&nbsp;0% |
| &nbsp;&nbsp;2 | &nbsp;&nbsp;20% |
| &nbsp;&nbsp;3 | &nbsp;&nbsp;40% |
| &nbsp;&nbsp;4 | &nbsp;&nbsp;60% |
| &nbsp;&nbsp;5 | &nbsp;&nbsp;80% |
| &nbsp;&nbsp;6 or more | &nbsp;&nbsp;100% |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) Employer Profit Sharing Contributions for Hourly Participants made with respect to Plan Years beginning on and after January 1, 2007, but prior to January 1, 2019, and Employer Matching Contributions made with respect to Plan Years beginning on and after January 1, 2002, but prior to January 1, 2019:

---

| | |
|:---|:---|
| &nbsp;&nbsp;<u>Years of Vesting Service</u><br>| &nbsp;&nbsp;<u>Vested Percent</u><br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Less than 3 | &nbsp;&nbsp;0% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3 or more | &nbsp;&nbsp;100% |

---

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) For Employer Profit Sharing Contributions for Hourly Participants and Salaried Participants made with respect to Plan Years beginning on and after January 1, 2019, and, except as provided in *Appendix A*, Employer Matching Contributions made with respect to Plan Years beginning on and after January 1, 2019:

---

| | |
|:---|:---|
| &nbsp;&nbsp;<u>Years of Vesting Service</u><br>| &nbsp;&nbsp;<u>Vested Percent</u><br>|
| &nbsp;&nbsp;Less than 1 | &nbsp;&nbsp;0% |
| &nbsp;&nbsp;1 | &nbsp;&nbsp;25% |
| &nbsp;&nbsp;2 | &nbsp;&nbsp;50% |
| &nbsp;&nbsp;3 | &nbsp;&nbsp;75% |
| &nbsp;&nbsp;4 or more | &nbsp;&nbsp;100% |

---

The foregoing notwithstanding, with respect to Employer Profit Sharing Contributions made for Plan Years beginning on and after January 1, 2019: (A) for Hourly Participants who are participating in the Hourly Plan prior to January 1, 2019, the vesting schedule applicable to such contributions shall be the better of the schedule in clause (iv) and clause (v) of this Section 7.4(a) for such Hourly Participants; and (B) for Salaried Participants who are participating in the Salaried Plan prior to January 1, 2019, the vesting schedule applicable to such contributions shall be the better of the schedule in clause (iii) and clause (v) of this Section 7.4(a) for such Salaried Participants. (For the avoidance of doubt, any Employer Profit Sharing Contributions made for Plan Years beginning prior to January 1, 2007 and Employer Matching Contributions made for Plan Years beginning prior to January 1, 2002 that are in Participants' Account as of January 1, 2019, are 100% vested.)

If a Participant who terminated Service prior to January 1, 2019 is rehired and re-commences Service on or after January 1, 2019, any unvested portion of the Employer Profit Sharing Contributions (and the earnings thereon) in the Participant' Account that were made for Plan Years beginning prior to January 1, 2019, shall be subject to (x) the better of the vesting schedule in clause (iii) and clause (v) of this Section 7.4(a) if he was a Salaried Participant prior to January 1, 2019, and (y) the better of the vesting schedule in clause (iv) and clause (v) of this Section 7.4(a) if he was an Hourly Participant prior to January 1, 2019. (Such Participant's Employer Profit Sharing Contributions made for Plan Years beginning after December 31, 2018, shall vest as provided under clause (v) of this Section 7.4(a).)

If a Participant terminates Service and, at the time of such termination, the present value of the Participant's vested Account balance is zero, the Participant will be deemed to have received a distribution of such vested benefit as of the last day of the Plan Year in which he first incurs a Break in Service.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Forfeitures</u>: This Section does not apply to Participants who are fully vested at the time of termination of Service.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) <u>Forfeitures of Non-Vested Account Balance</u>. With respect to a Participant who terminates employment with the Employer with a vested interest (as determined under Section 7.4(a) or *Appendix A*) in his Employer Profit Sharing Account or Employer Matching Contribution Account that is less than 100% and receives a distribution from the Plan of the balance of his vested interest in his Accounts in the form of a lump sum distribution by the close of the second Plan Year following the Plan Year in which his employment was terminated, the non-vested portion of such terminated Participant's Employer Profit Sharing Account or Employer Matching Contribution Account as of the Valuation Date preceding the distribution date of his Accounts shall become a Forfeiture as of the date his Account balances are distributed (or as of his date of termination of employment if he has no vested interest in his Employer Profit Sharing Account or Employer Matching Contribution Account and thus is deemed to have received a distribution of zero dollars on his date of termination of employment).

With respect to a Participant who terminates employment with the Employer with a vested interest in his Employer Profit Sharing Account or Employer Matching Contribution Account less than 100% and who is not otherwise subject to the forfeiture provision of the foregoing paragraph, the non-vested portion of his Employer Profit Sharing Account or Employer Matching Contribution Account shall be forfeited as of the earlier of (1) the last day of the Plan Year in which the Participant first incurs 5 consecutive Breaks in Service as the result of the termination of his Service, or (2) the date of the terminated Participant's death.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) <u>Restoration of Forfeited Account Balance</u>. In the event that the non-vested portion of a terminated Participant's Employer Profit Sharing Account or Employer Matching Contribution Account becomes a Forfeiture pursuant to Section 7.4(b)(i) above, the terminated Participant shall, upon subsequent reemployment with the Employer prior to incurring 5 consecutive Breaks in Service, have the forfeited amount restored to such Participant's Employer Profit Sharing Account or Employer Matching Contribution Account, unadjusted by any subsequent gains or losses of the Trust Fund; *provided, however*, that such restoration shall only be made if such Participant repays in cash an amount equal to the amount so distributed to him prior to the <u>earlier</u> of (a) the last day of the Plan Year in which the Participant incurs 5 consecutive Breaks in Service; or (b) 5 years after the date of the Participant's reemployment with the Employer (provided that the Participant must be an Employee at the time of repayment). Such restoration shall be made as soon as administratively feasible following the date of repayment. Notwithstanding anything to the contrary in the Plan, forfeited amounts to be restored by the Employer pursuant to this Section shall be charged against and deducted from Forfeitures for the Plan Year in which such amounts are restored that would otherwise be available for allocation in accordance with Section 4.8. If such Forfeitures otherwise available are not sufficient to provide such restoration, the portion of such restoration not provided by Forfeitures shall be provided by an

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additional Employer contribution (which shall be subject to current or accumulated earning and profits).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.5 <u>Valuation Dates Determinative of Participant's Rights.</u> In the case of any Participant whose Service is terminated for any reason, the amount to which such Participant or his Beneficiary is entitled upon such termination of Service shall be determined as of the Valuation Date coinciding with or next following his termination of Service.

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# <u>ARTICLE VIII</u> <br><u>PAYMENT OF BENEFITS</u> 
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.1 <u>Time of Payment</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Normal Retirement</u>. In the event of normal retirement, within the meaning of Section 7.1, payment of all or a portion of a Participant's Account balance (as elected by the Participant) shall be made as soon as practicable following the Participant's termination of Service in one or more of forms of payment provided in Section 8.2, provided the Participant has filed an election to begin his benefit in accordance with Section 8.8, subject to Section 8.7. Except as otherwise is provided in Section 8.4, a Participant who continues in the Service of the Employer after his Normal Retirement Date may elect to defer the payment of his Account balance until the earlier of his (1) termination of Service (as described in Section 8.1(c)) with the Employer or (2) Required Commencement Date. The value of the Participant's Account balance shall be determined as of the Valuation Date that immediately precedes the payment date of the Participant's benefit.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Death</u>. Except as is otherwise provided in Sections 8.4 and 8.6, in the event of a Participant's termination of Service due to death, within the meaning of Section 7.3, payment of the Participant's entire vested Account balance under the Plan shall be paid to his Beneficiary in a lump sum distribution under Section 8.2 within 5 years after the date of the Participant's death; *provided, however*, if the Beneficiary is the Participant's surviving Spouse, the deceased Participant's interest shall be distributed to such surviving Spouse on or before the date on which the Participant would have attained age 70½; provided further that if the surviving Spouse dies before distribution commences to the Spouse, distribution of the deceased Participant's interest shall begin on or before the date determined as if the surviving Spouse were the Participant. The value of the Participant's Account balance shall be determined as of the Valuation Date that immediately precedes the date payment of the Participant's benefit is to be paid. If a Participant's distributions under the Plan commenced prior to his date of death, any remaining portion of the deceased Participant's interest in the Plan shall be distributed at least as rapidly as such interest would have been distributed to him under the method of payment in effect immediately prior to his death.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Other Termination of Service</u>. Except as is otherwise provided in Section 8.4, upon a Participant's termination of Service pursuant to Section 7.4, payment of all or a portion of the Participant's vested Account balance (as elected by the Participant) shall be made as soon as practicable following the Participant's termination of Service in one or more of forms of payment provided in Section 8.2; *provided, however*, that the Participant has filed an election to begin his benefit in accordance with Section 8.8, subject to Section 8.7. Subject to Sections 8.1(b) and 8.4, unless the Participant elects to commence payment of his vested Account balance following his termination of Service, the Committee shall direct the Trustee to retain the value of the Participant's vested Account balance in the

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Trust until the earlier of the date that the Participant requests the Committee to distribute such benefit as provided in Section 8.2 or as required under Section 8.7. Until distribution, the Participant's Accounts shall be administered in accordance with Section 8.3. The value of the Participant's vested Account balance shall be determined as of the Valuation Date that immediately precedes the payment date of the Participant's vested Account balance. A 'termination of Service' for purposes of this Section 8.1(c) will include a 'severance from employment' under Section 401(k)(2) of the Code that occurs as a result of a Participant's performance of service in the uniformed services (as defined in chapter 43 of title 38, United States Code) while on active duty for a period of more than thirty (30) days, as provided in Section 3401(h) of the Code; *provided, however*, that a Participant who elects to receive a distribution of his vested Account in connection with a "termination of Service" occurring as a result of his performance of service in the uniformed services may not make Pre-Tax Contributions (including Catch-Up Contributions) to the Plan at any time during the six (6) month period beginning on the date of such distribution.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) <u>Limitation on Time of Payment</u>. Notwithstanding any provision contained herein to the contrary, unless the Participant elects otherwise, the Trustee shall make payment of the Participant's vested Account benefit not later than 60 days after the latest of the following events occurs:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) The end of the Plan Year in which the Participant attains age 65;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) The end of the Plan Year in which the Participant terminates Service with the Employer; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) The end of the Plan Year in which occurs the 10th anniversary of the year in which the Participant commenced participation in the Plan.

A Participant may elect to defer the payment of his benefits beyond the dates specified above by submitting a written statement to the Committee describing his benefit and the date on which the payment of such benefits shall be made, at the time and in the manner prescribed by the Committee in its sole discretion. For purposes of this Section 8.1(d), the failure of a Participant (and his Spouse, if spousal consent is required pursuant to this Article VIII or Section 3.9) to consent to a distribution shall be considered an election to postpone the commencement of payment of his benefit.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.2 <u>Method of Payment.</u> After any and all required adjustments, the Trustee, in accordance with the direction of the Committee, shall make payments due under Section 8.1(a) or Section 8.1(c) of a Participant's vested Account balance as elected by the Participant, in the form and manner prescribed by the Committee, as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) distribution of the Participant's entire vested Account balance in a lump sum payment in cash and/or in whole shares of Company Stock plus the cash value of any partial shares of Company Stock, as elected by the Participant; or

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) partial distribution of the Participant's vested Account balance payable in cash and/or in whole shares of Company Stock plus the cash value of any partial shares of Company Stock, as elected by the Participant; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) periodic distributions of the Participant's vested Account balance in the amount and for such frequency, as permitted by the Committee, as elected by the Participant, until all such vested amounts have been distributed, with each periodic distribution payable in cash and/or in whole shares of Company Stock plus the cash value of any partial shares of Company Stock, as elected by the Participant; *provided, however*, that the Participant may elect, in the form and manner prescribed by the Committee, to cease such payments and all such payments will automatically cease upon the Participant's death (at which time the Participant's remaining vested Account balance shall be distributed as provided in Section 8.1(b)).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.3 <u>Deferral of Payments in the Case of Non-Employee and Non-Eligible Employee Participants.</u> If a Participant's Accounts are retained in the Trust after the date on which he ceases to be an Employee or an Eligible Employee, such Accounts shall continue to be treated as a part of the Trust Fund. The Accounts of such a non-Employee and non-Eligible Employee Participant will be credited (or debited) with their share of the net income (or loss) attributable to the investments of such Accounts but shall not be credited with any further (i) Employer contributions or (ii) Participant contributions.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.4 <u>Cash Out or Automatic Rollover of Vested Account Balance.</u> Notwithstanding any other provision of this Article VIII, if upon termination of a Participant's Service or thereafter the value of the Participant's vested Account balance does not exceed $1,000, the Committee shall direct the Trustee to (i) distribute the value of the Participant's vested Account balance to the Participant or the Participant's Beneficiary in a lump sum cash payment or (ii) if the Participant or Beneficiary so timely elects, rollover such amount to an Eligible Retirement Plan (as defined in Section 8.5(b)). In the event that a Participant's vested Account balance exceeds $1,000, but does not exceed $7,000, if the Participant does not timely elect to have such benefit paid directly to an Eligible Retirement Plan specified by the Participant or to receive the distribution directly, then the Committee will pay the distribution to an individual retirement account designated by the Committee.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.5 <u>Direct Rollover Distributions.</u> Notwithstanding any provision of the Plan to the contrary that would otherwise limit a Distributee's election under Section 8.2, a Distributee may elect, at the time and in the manner prescribed by the Committee, to have any portion of an Eligible Rollover Distribution greater than $200 paid directly to an Eligible Retirement Plan specified by

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## the Distributee in a Direct Rollover. For the purposes of this Section the following definitions shall apply:
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) "Eligible Rollover Distribution" shall mean any distribution of all or any portion of the balance to the credit of the Distributee other than:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) 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 specific period of 10 years or more;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) any distribution to the extent such distribution is required under Section 401(a)(9) of the Code;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) the portion of any distribution that is not includable in gross income (determined without regard to the exclusion for net unrealized appreciation with respect to employer securities); *provided, however*, that an Eligible Rollover Distribution may include the portion of any distribution that is not includable in gross income (determined without regard to the exclusion for net unrealized appreciation with respect to employer securities), provided that such portion may only be rolled over to an individual retirement account described in Section 408(a) of the Code, an individual retirement annuity described in Section 408(b) of the Code or a qualified defined contribution plan described in Section 401(a) or 403(a) of the Code, a qualified defined benefit plan described in Section 401(a) of the Code, or a Section 403(b) annuity contract that agrees to separately account for amounts so rolled over, including separately accounting for the portion of the distribution which is includable in gross income and the portion of such distribution which is not so includable;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) any distribution which is made upon hardship;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) a loan treated as a distribution under Section 72(p) of the Code and not excepted by Section 72(p)(2) of the Code or a loan in default that is a deemed distribution;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vi) any corrective distribution provided in Article XIII (regarding Excess Contributions and Excess Aggregate Contributions as such terms are defined in Section 13.1); or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vii) any other distribution so designated by the Internal Revenue Service in revenue rulings, notices, and other guidance of general applicability.

Notwithstanding the foregoing, if all or any portion of a distribution during 2009 is treated as an Eligible Rollover Distribution but would not be so treated if the minimum distribution requirements under Section 401(a)(9) of the Code had applied during 2009,

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such distribution shall not be treated as an eligible rollover distribution for purposes of Sections 401(a)(31) (relating to direct and automatic rollovers of eligible rollover distributions), 402(f) (relating to recipients of eligible rollover distributions), or 3405(c) (relating to mandatory income tax withholding) of the Code.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) "Eligible Retirement Plan" shall mean (i)(1) an individual retirement account described in Section 408(a) of the Code or Section 408A of the Code, (2) an individual retirement annuity described in Section 408(b) of the Code, (3) an annuity plan described in Section 403(a) of the Code, and (4) a qualified plan described in Section 401(a) of the Code that accepts the Distributee's Eligible Rollover Distribution and (ii)(1) an annuity contract described in Section 403(b) of the Code and (2) an eligible plan under Section 457(b) of the Code which is maintained by a state, political subdivision of a state, or any agency or instrumentality of a state or political subdivision of a state and which agrees to separately account for amounts transferred into such plan from the Plan. The definition of Eligible Retirement Plan shall also apply in the case of a distribution to a surviving Spouse, or to a Spouse or former Spouse who is the alternate payee under a qualified domestic relation order, as defined in Section 414(p) of the Code and a non-Spouse beneficiary to the extent provided in Section 829 of the Pension Protection Act of 2006 as provided in Section 8.6.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) "Distributee" shall mean a Participant or former Participant of the Plan. In addition, the Participant's or former Participant's surviving Spouse and the Participant's or former Participant's Spouse or former Spouse who is the alternate payee under a qualified domestic relations order, as defined in Section 414(p) of the Code, are Distributees with regard to the interest of the Spouse or former Spouse.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) "Direct Rollover" shall mean a payment by the Plan to the Eligible Retirement Plan specified by the Distributee.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.6 <u>Non-Spouse Beneficiary Rollovers.</u> Notwithstanding any provision of the Plan to the contrary, to the extent provided in Section 829 of the Pension Protection Act of 2006, in the case of a designated Beneficiary (within the meaning of Section 401(a)(9) of the Code) who is a person or trust other than the Participant's Spouse, the Beneficiary may elect to have all or part of the Participant's Account distributed in a direct trustee-to-trustee transfer to an inherited individual retirement account described in Section 408(a) or (b) Section 408A of the Code (an "Inherited IRA") if the following requirements are satisfied:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Committee (or its delegate) is provided a timely request to make the direct trustee-to-trustee transfer to the Inherited IRA by the Beneficiary, in the form and manner prescribed by the Committee, prior to the date the Participant's Account balance is distributed pursuant to Section 8.1(b).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The Beneficiary represents to the Committee in writing that an Inherited IRA has been established for the purpose of receiving the distribution on behalf of such designated Beneficiary in a manner that identifies the IRA as an IRA with respect to the deceased Participant and also identifies the designated Beneficiary.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) The amount distributed in a trustee-to-trustee transfer to an IRA satisfies the requirements for an Eligible Rollover Distribution as set forth in Section 8.5 other than the requirement that the designated Beneficiary satisfies the definition of "Distributee" in Section 8.5(c).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) The transfer otherwise meets all other requirements of Code Section 402(c)(11) and any regulations and guidance issued thereunder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.7 <u>Required Minimum Distributions.</u> 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>General</u>. Notwithstanding any provisions of the Plan to the contrary, for a Participant who attains (i) age 70½ if the Participant attains age 70½ prior to January 1, 2020, (ii) age 72 if the Participant attains age 70½ after December 31, 2019 and age 72 before January 1, 2023, (iii) age 73 if the Participant attains age 72 after December 31, 2022 and age 73 before January 1, 2033, or (iv) age 75 if the Participant attains age 73 after December 31, 2032, any benefits to which a Participant is entitled shall commence not later than the April 1st of the calendar year following the latest of (i) the calendar year in which the Participant attains age 70½ if the Participant attains age 70½ prior to January 1, 2020, (ii) the calendar year in which the Participant attains age 72 if the Participant attains age 70½ after December 31, 2019 and age 72 before January 1, 2023, (iii) the calendar year in which the Participant attains age 73 if the Participant attains age 72 after December 31, 2022 and age 73 before January 1, 2033, (iv) the calendar year in which the Participant attains age 75 if the Participant attains age 73 after December 31, 2032, or (v) the calendar year in which the Participant's employment terminates; provided, however, that clause (v) of this sentence shall not apply in the case of a Participant who is a 5% owner, as defined in Code Section 416(i) (such date the "Required Beginning Date"). All distributions required under this Section 8.7 will be made in accordance with the Treasury Regulations under Code Section 401(a)(9) and shall apply for purposes of determining required minimum distributions. The requirements under Code Section 401(a)(9) will take precedence over any inconsistent provisions of the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Timing and Manner of Distributions</u>. The Participant's entire interest will be distributed, or begin to be distributed, to the Participant no later than the Participant's Required Beginning Date. Upon the death of the Participant distributions will be made to the Beneficiary in accordance with Section 8.1(b) of the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Calculation of Required Minimum Distribution</u>. During the Participant's lifetime, the minimum amount that will be distributed for each Distribution Calendar Year is the quotient obtained by dividing the Participant's Account balance by the distribution period in the Uniform Lifetime Table set forth in Section 1.401(a)(9)-9 of the Treasury Regulations, using the Participant's age as of the Participant's birthday in the Distribution Calendar Year. Required minimum distributions will be determined beginning with the first Distribution Calendar Year and up to and including the Distribution Calendar Year that includes the Participant's date of death.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) <u>Required Minimum Distributions After or Before Participant's Death</u>. If the Participant dies after or before his Required Beginning Date, his Account balance will be distributed to his Beneficiary as provided in Section 8.1(b) of the Plan. Effective for distributions with respect to Participants who die after December 31, 2019, the required minimum distribution rules under Section 8.7 of the Plan must be administered consistent with the following rules as provided under Section 401 of the Setting Every Community Up for Retirement Enhancement Act of 2019 (the "SECURE Act").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) *10-year after death rule*. Unless the Designated Beneficiary is an Eligible Designated Beneficiary (as defined in subparagraph (ii) below), if a Participant dies before the distribution of the Participant's entire vested account balance (regardless of whether the Participant dies before, on or after beginning required minimum distributions under this Section 8.7), the entire vested account balance of the Participant will be distributed within 10 years after the death of such Participant.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) Exception for Eligible Designated Beneficiaries. Code Section 401(a)(9)(B)(iii) relating to the ability to pay out the Participant's vested account balance over the life of the Designated Beneficiary shall apply only in the case of an Eligible Designated Beneficiary.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) Rules upon death of an Eligible Designated Beneficiary. If an Eligible Designated Beneficiary dies before the Participant's entire vested account balance is distributed, the exception under subparagraph (1) above shall not apply to any beneficiary of such Eligible Designated Beneficiary and the remainder of such portion shall be distributed within 10 years after the death of such Eligible Designated Beneficiary.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) Special rule in case of certain trusts for disabled or chronically ill Eligible Designated Beneficiary. The Plan may apply the special rules for certain applicable multi-beneficiary trusts as described under Code Sections 401(a)(9)(H)(iv) and (v), as added by Section 401 of the SECURE Act.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) *Eligible Designated Beneficiary*. The term Eligible Designated Beneficiary means, with respect to any Participant, any Designated Beneficiary who is:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) the surviving spouse of the Participant;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) subject to subparagraph (v) below, a child of the Participant who has not reached majority (within the meaning of Code Section 401(a)(9)(F);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) disabled (within the meaning of Code Section 72(m)(7));

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) a chronically ill individual (within the meaning of Code Section 7702B(c)(2), except that the requirements of subparagraph (A)(i) thereof shall only be treated as met if there is a certification that, as of such date, the period of inability described in such subparagraph with respect to the individual is an indefinite one which is reasonably expected to be lengthy in nature); or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5) an individual not described in any of the preceding subclauses who is not more than 10 years younger than the Participant.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) *Designated Beneficiary*. The term Designated Beneficiary means, with respect to any Participant, any Beneficiary who is an individual.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) *5-year after death rule*. If the Participant's Beneficiary is not a Designated Beneficiary, the entire vested account balance of the Participant will be distributed within 5 years after the death of such Participant.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) *Special rules for children*. Subject to Code Section 401(a)(9)(F), an individual described in subparagraph (ii)(2) above shall cease to be an Eligible Designated Beneficiary as of the date the individual reaches majority and any remainder of the portion of the individual's interest to which Code Section 401(a)(9)(H)(ii) applies shall be distributed within 10 years after such date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) <u>Definitions</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) *Designated Beneficiary*. The individual who is designated as the Beneficiary under Section 3.8 of the Plan and is the Designated Beneficiary under Section 401(a)(9) of the Code and Section 1.401(a)(9)-1, Q&A-4, of the Treasury Regulations.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) *Distribution Calendar Year*. A calendar year for which a minimum distribution is required. For distributions beginning before the Participant's death,

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the first Distribution Calendar Year is the calendar year immediately preceding the calendar year which contains the Participant's Required Beginning Date. For distributions beginning after the Participant's death, the first Distribution Calendar Year is the calendar year in which distributions are required to begin under Section 8.7(d). The required minimum distribution for the Participant's first Distribution Calendar Year will be made on or before the Participant's Required Beginning Date. The required minimum distribution for other distribution calendar years, including the required minimum distribution for the Distribution Calendar Year in which the Participant's Required Beginning Date occurs, will be made on or before December 31 of that Distribution Calendar Year.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) *Participant's Account Balance*. The account balance as of the last valuation date in the calendar year immediately preceding the Distribution Calendar Year (valuation calendar year) increased by the amount of any contributions made and allocated or forfeitures allocated to the account balance as of dates in the valuation calendar year after the valuation date and decreased by distributions made in the valuation calendar year after the valuation date. The account balance for the valuation calendar year includes any amounts rolled over or transferred to the Plan either in the valuation calendar year or in the distribution calendar year if distributed or transferred in the valuation calendar year. Notwithstanding the provisions of this Section 8.7 to the contrary, in determining pre-death required minimum distributions under this Section 8.7 for Plan Years beginning on or after January 1, 2024, a Participant's account balance shall not include any amounts in a Roth Contribution Account or Roth Rollover Account.

Notwithstanding the provisions of this Section 8.7 to the contrary, a Participant or Beneficiary who would have been required to receive required minimum distributions for 2009 but for the enactment of section 401(a)(9)(H) of the Code ("2009 RMDs"), and who would have satisfied that requirement by receiving distributions that are (1) equal to the 2009 RMDs or (2) one or more payments in a series of substantially equal distributions (that include the 2009 RMDs) made at least annually and expected to last for the life (or life expectancy) of the Participant, the joint lives (or joint life expectancy) of the Participant and the Participant's designated Beneficiary, or for a period of at least 10 years ("Extended 2009 RMDs"), will not receive those distributions for 2009 unless the Participant or Beneficiary chooses to receive such distributions. Participants and Beneficiaries described in the preceding sentence will be given the opportunity to elect to receive their 2009 RMDs or their Extended 2009 RMDs, as applicable. In addition, as provided in the last paragraph of Section 8.5(a), and solely for purposes of applying the direct rollover provisions of the Plan, certain additional distributions in 2009 will be treated as Eligible Rollover Distributions. Notwithstanding anything to the contrary in this Section 8.7, pursuant to Section 2203(a) of the CARES Act (as defined in Section 6.9 of the Plan) and accompanying guidance issued by the Internal Revenue Service, required minimum distributions under this Section 8.7 for the 2020 calendar year shall be waived.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.8 <u>Election to Commence Benefits.</u> Prior to or upon becoming entitled to receive a benefit hereunder, a Participant or Beneficiary shall file a claim for such benefit with the Committee at the time and in the manner prescribed by the Committee in its sole discretion.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.9 <u>Claims for Benefits.</u> Any Participant or the Beneficiary of any deceased Participant may submit written application to the Committee for the payment of any benefit asserted to be due him under the Plan, including, but not limited to, claims related to administrative and statement errors. Such application shall set forth the nature of the claim and such other information as the Committee may reasonably request. Promptly upon the receipt of any application required by this Section, the Committee shall determine whether or not the Participant or Beneficiary involved is entitled to a benefit hereunder and, if so, the amount thereof and shall notify the claimant of its findings. Benefits under the Plan will be paid only if the Committee decides in its discretion that the applicant is entitled to them. The Committee, in its sole discretion, may establish reasonable time periods within which any claim for benefits or other cause of action must be submitted to the Committee.

If a claim is wholly or partially denied, the Committee shall so notify the claimant within 90 days after receipt of the claim by the Committee, unless special circumstances require an extension of time for processing the claim. If such an extension of time for processing is required, written notice of the extension shall be furnished to the claimant prior to the end of the initial 90-day period. In no event shall such extension exceed a period of 90 days from the end of such initial period. The extension notice shall indicate the special circumstances requiring an extension of time and the date by which the Committee expects to render its final decision. Notice of the Committee's decision to deny a claim in whole or in part shall be set forth in a manner calculated to be understood by the claimant and shall contain the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the specific reason or reasons for the denial;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) specific reference to the pertinent Plan provisions on which the denial is based;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) a description of any additional material or information necessary for the claimant to perfect the claim and an explanation of why such material or information is necessary; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) an explanation of the claims review procedure set forth in Section 8.9 hereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.10 <u>Claims Review Procedure.</u> If an application filed by a Participant or Beneficiary under Section 8.9 above shall result in a denial by the Committee of the benefit applied for, either in whole or in part, such applicant shall have the right, to be exercised by written application filed with the Committee within 60 days after receipt of notice of the denial of his application to request the review of his application and of his entitlement to the benefit applied for. Such request for review may contain such additional information and comments as the applicant may wish to present. Within 60 days after receipt of any such request for review, the Committee shall reconsider the application for the benefit in light of such additional information and comments as

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## the applicant may have presented, and if the applicant shall have so requested, shall afford the applicant or his designated representative a hearing before the Committee. The Committee shall also permit the applicant or his designated representative to review pertinent documents in its possession, including copies of the Plan document and information provided by the Employer relating to the applicant's entitlement to such benefit. The Committee shall make a final determination with respect to the applicant's application for review as soon as practicable, and in any event not later than 60 days after receipt of the aforesaid request for review, except that under special circumstances, such as the necessity for holding a hearing, such 60-day period may be extended to the extent necessary, but in no event beyond the expiration of 120 days after receipt by the Committee of such request for review. If such an extension of time for review is required because of special circumstances, written notice of the extension shall be furnished to the applicant prior to the commencement of the extension. Notice of such final determination of the Committee shall be furnished to the applicant in writing, in a manner calculated to be understood by him, and shall set forth the specific reasons for the decision and specific references to the pertinent provisions of the Plan upon which the decision is based. Notwithstanding the foregoing or any provision of the Plan to the contrary, an Applicant must exhaust all of his administrative remedies set forth in Section 8.9 and this Section with respect to any claim or cause of action related to the Plan before he may bring any action at law or equity.
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.11 <u>Disputed Benefits.</u> If any dispute still exists between a Participant or a Beneficiary and the Committee after a review of the claim or in the event any uncertainty shall develop as to the person to whom payment of any benefit hereunder shall be made, the Trustee may withhold the payment of all or any part of the benefits payable hereunder to the Participant or Beneficiary until such dispute has been resolved by a court of competent jurisdiction or settled by the parties involved.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.12 <u>Legal Actions.</u> An individual shall have no right to bring any action at law or in equity regarding a claim for benefits, unless and until he exhausts his rights to review under this Article VIII in accordance with the time frames set forth therein.

No action at law or in equity shall be brought to recover benefits under the Plan later than two (2) years from the date of the final adverse benefit determination of an applicant's appeal of the denial of his claim for benefits. Notwithstanding the foregoing, if the applicable, analogous Texas statute of limitations has run or will run before the aforementioned two-year period, the Texas statute of limitations is controlling.

No action at law or in equity shall be brought in connection with the Plan except in a federal district court in the State of Texas.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.13 <u>Optional Forms of Benefits.</u> Notwithstanding anything in the Plan to the contrary, all optional forms of benefits which are "Section 411(d)(6) protected benefits," as described in Treasury Regulations Section 1.411(d)-4, shall continue to be optional forms of benefits for Participants to whom the optional forms apply, notwithstanding any subsequent amendment of the Plan purporting to revise or delete any such optional form of benefit and notwithstanding any contrary provision of Article VI or this Article VIII, unless otherwise permitted by applicable law.

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# <u>ARTICLE IX</u> <br>TRUST AGREEMENT; INVESTMENT FUNDS;<br> <u>COMPANY STOCK FUND; INVESTMENT DIRECTIONS</u> 
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.1 <u>Trust Agreement.</u> The Company has entered into a Trust Agreement governing the administration of the Trust with the Trustee, the provisions of which are herein incorporated by reference as fully as if set out herein. The assets held under said Trust Agreement on behalf of the Plan shall constitute the Trust Fund.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.2 <u>Investment Funds and Company Stock Fund.</u> The Trustee shall divide the Trust Fund into the Company Stock Fund and such Investment Funds as may be selected from time to time by the Committee. Contributions shall be paid into the Investment Fund or Funds and/or Company Stock Fund (collectively, for purposes of this Article IX, the "Funds"), pursuant to the directions of the Participants given in accordance with the provisions of Sections 9.3 and 9.4 as certified to the Trustee by the Committee. Except as otherwise provided herein, interest, dividends and other income and all profits and gains produced by each such Fund shall be paid into such Fund, and such interest, dividends and other income or profits and gains, without distinction between principal and income, may be invested and reinvested but only in the property hereinabove specified for the particular Fund. Subject to Section 9.3, the Committee shall have the right to add and/or delete Investment Funds from time to time and at any time.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.3 <u>Investment Directions of Participants.</u> Each Participant may direct the investment of the amounts credited to his Account among the Investment Funds available under the Plan; provided that a Participant may direct the investment of Contributions, including Rollover Contributions, to his Account in the Company Stock Fund only in an amount equal to between 1% and 15% (in whole percentages) of such Contributions and Rollover Contributions credited to his Account. The Participant shall file such direction with the Committee in accordance with procedures adopted by the Committee, in its sole direction, which shall specify the allocation of Contributions among such Funds.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.4 <u>Change of Investment Directions.</u> Except as provided in Section 9.3, a Participant or former Participant may modify his investment direction among the various Funds in increments of 1% (in whole percentages totaling in the aggregate 100% among the Funds (subject to the 15% limitation for the Company Stock Fund described in Section 9.3 with respect to Contributions and Rollover Contributions)) with respect to (i) future Contributions and Rollover Contributions (ii) the future investment of prior Contributions and Rollover Contributions, or (iii) both, by providing notice of the new investment direction to the Committee, in accordance with applicable procedures. With respect to any portion of the Accounts of a Participant is invested in the Company Stock Fund, the Participant may elect to direct the Plan to divest any such securities, and to reinvest an equivalent amount among the Investment Funds in accordance with Code Section 401(a)(35). Changes in investment direction shall become effective as soon as administratively practicable. The Committee shall establish an administrative procedure to allow for prompt communication of the investment directions and changes thereto of each Participant to the Trustee. In the event a

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## Participant fails to direct the manner of investing his Account as provided in Sections 9.3 and 9.4, such Account shall be invested by the Trustee in the Default Investment Fund.
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.5 <u>Benefits Paid Solely from Trust Fund.</u> All benefits under the Plan shall be paid exclusively from the Trust Fund.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.6 <u>Committee Directions to Trustee.</u> The Trustee shall make only such distributions and payments out of the Trust Fund as may be directed by the Committee. The Trustee shall not be required to determine or make any investigation to determine the identity or mailing address of any person entitled to any distributions and payments out of the Trust Fund and shall have discharged its obligation in that respect when it shall have sent certificates and checks or other papers by ordinary mail to such persons and addresses as may be certified to it by the Committee.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.7 <u>Authority to Designate Investment Manager.</u> The Committee may appoint an investment manager or managers to manage (including the power to acquire and dispose of) any assets of the Trust Fund in accordance with the terms of the Trust Agreement and ERISA.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.8 <u>Voting of Company Stock.</u> Unless otherwise required by law and except as provided herein, the Trustee shall vote the Company Stock held in the Trust Fund for the respective Accounts of the Plan Participants. On issues where Participants are required to vote the Company Stock allocated to their Accounts or in connection with a tender offer, the Participants shall be entitled to direct the Trustee as to the manner in which the Company Stock shall be voted or whether the such Company Stock shall be tendered. Any such Participant directions may be certified to the Trustee by the Committee or any agent designated thereby in accordance with such administrative procedures as the Committee may, in its sole discretion, adopt. Company Stock with respect to which no such direction shall be received and fractional shares shall be voted by the Trustee in the same proportions as are shares of Company Stock as to which voting instructions have been received or shall be voted or tendered in accordance with the provisions of the Trust Agreement as then in effect. Voting, tender, and similar rights with respect to any other investment option provided under the Plan shall also be passed through to Participant to the extent that the Participant's Account is invested in such option. Any Participant directions with respect to voting, tender or similar rights may be credited to Trustee by the Committee or any agent designated thereby in accordance with such administrative procedures as the Committee may, in its sole and absolute discretion, adopt. The portion of an investment option with respect to which the Trustee receives no Participant direction shall be voted or tendered, as applicable, in accordance with the provisions of the Trust Agreement as then in effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.9 <u>Voting of Investment Funds.</u> Voting, tender, and similar rights with respect to any Investment Funds provided under the Plan shall be passed through to Participants to the extent that the Participant's Account is invested in such Fund. Any Participant directions with respect to voting, tender or similar rights may be credited to the Trustee by the Committee or any agent designated thereby in accordance with such administrative procedures as the Committee may, in its sole and absolute discretion, adopt.

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# <u>ARTICLE X<br></u> <br> ADOPTION OF PLAN BY OTHER ORGANIZATIONS;  <br> SEPARATION OF THE TRUST FUND;  <br> AMENDMENT AND TERMINATION OF THE PLAN; <u><br>DISCONTINUANCE OF CONTRIBUTIONS TO THE TRUST FUND</u> 
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.1 <u>Adoptive Instrument.</u> Any corporation or other organization with employees, now in existence or hereafter formed or acquired which is not already an Employer under the Plan and which is otherwise legally eligible, may, with the approval of the Committee acting on behalf of the Company, adopt and become an Employer under the Plan, and listed on *Appendix C*, by executing and delivering to the Company and the Trustee an adoptive instrument specifying the classification of its Employees who are to be eligible to participate in the Plan and by agreeing to be bound as an Employer by all the terms of the Plan with respect to its Eligible Employees. The adoptive instrument may contain such changes and variations in the terms of the Plan as may be acceptable to the Company by action of the Committee. Any such approved organizations which shall adopt the Plan shall designate the Company as its agent to act for it in all transactions affecting the administration of the Plan and shall designate the Committee to act for such Employer and its Participants in the same manner in which the Committee may act for the Company and its Participants hereunder. The adoptive instrument shall specify the effective date of such adoption of the Plan and shall become, as to such adopting Employer and its Employees, a part of the Plan. The Company may, in its absolute discretion, terminate an adopting Employer's participation at any time when in its judgment such adopting Employer fails or refuses to discharge its obligations under the Plan.

It is not a condition of adopting the Plan that each adopting entity agree to make Employer Profit Sharing Contributions, to make the same amount of Profit Sharing Contributions to the Plan, if any, as the Company, or to allow its Employees to elect to (i) defer the amounts of Compensation specified in Section 4.1, (ii) make After-Tax Contributions in amounts specified in Section 4.4 and (iii) make rollover contributions to the Plan pursuant to Section 4.11; *provided, however*, that to the extent an Employer elects not to make all types of contributions or allow its Employees all the elections listed in this sentence, such limits shall be effective only with the Company's consent. The administrative powers and control granted to the Company under the Plan, as now or hereafter provided, including the sole right of amendment of the Plan and Trust and of appointment and removal of the Committee and its successors, shall not be diminished by reason of the participation of any such adopting entity in the Plan and Trust.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.2 <u>Separation of the Trust Fund.</u> A separation of the Trust Fund as to the interest therein of the Participants of any particular Employer may be requested by an Employer at any time pursuant to the procedures set forth in Section 10.3. In the event such a separation is approved, as provided in Section 10.3, the Trustee shall set apart that portion of the Trust Fund which shall be allocated to such Participants pursuant to a valuation and allocation of the Trust Fund made in accordance with the procedures set forth in Sections 5.2 and 5.4, but as of the date when such separation of the Trust Fund shall be effective. Such portion may in the Trustee's discretion be set apart in cash or in kind out of the properties of the Trust Fund. That portion of

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## the Trust Fund so set apart shall continue to be held by the Trustee as though such Employer had entered into the Trust Agreement as a separate trust agreement with the Trustee. Such Employer may in such event designate a new trustee of its selection to act as trustee under such separate trust agreement. Such Employer shall thereupon be deemed to have adopted the Plan as its own separate plan and shall subsequently have all such powers of amendment or modification of such plan as are reserved herein to the Company.
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.3 <u>Voluntary Separation.</u> If any Employer shall desire to separate its interest in the Trust Fund under Section 10.2, it shall request such a separation in a notice in writing to the Company, the Committee and the Trustee. Any such separation shall not be permitted or effective unless and until consented to and approved by the Committee, in its sole discretion. If the Committee so consents to and approves of the separation, such separation shall then be made as of the date established by the Committee, and only then shall such separation be accomplished in the manner set forth in Section 10.2.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.4 <u>Amendment of the Plan.</u> Except as otherwise expressly provided in this Section, (i) the Board, in its settlor capacity, shall have the exclusive right (except as provided below) to amend or modify the Plan and the Trust Agreement (with the consent of the Trustee, if required) at any time and from time to time to the extent that it may deem advisable and (ii) the Committee shall have the right to modify the administrative provisions of the Plan and to change the Investment Funds offered under the Plan. In addition, the Committee shall have the limited right (along with the Board) to amend or modify the Plan and the Trust Agreement (with consent of the Trustee, if required) for any changes required by applicable law or by the Internal Revenue Service to maintain the qualified status of the Plan and related Trust at any time and from time to time to the extent that it may deem advisable, so long as the change is consistent with the general compensation policies of the Company, to amend the Plan to provide past service credit to any group of Eligible Employees to the extent required by any adoptive instrument or purchase agreement entered into by an Employer, to amend *Appendix A* to reflect any Employer Matching Contributions required under a collective bargaining agreement to which any Employer is a party, and to amend *Appendix* C to reflect the addition and deletion of Employers. The Board alone, in its settlor capacity, shall have the sole and exclusive right and power to (i) amend, modify, restrict or limit investment in, or terminate the Company Stock Fund and (ii) amend, modify or terminate any provision of the Plan or Trust Agreement related to the administration of the Company Stock Fund. Any such amendment or modification shall be set out in an instrument in writing duly authorized by the Board or the Committee, as the case may be, and executed by an appropriate officer of the Company or member of the Committee. Upon delivery by the Company of such an instrument amending the Plan to the Trustee, the Plan shall be deemed to have been amended or modified in such manner and to such extent and effective as of the date therein set forth, and thereupon any and all Participants whether or not they shall have become such prior to such amendment or modification shall be bound thereby. No such amendment or modification shall, however, increase the duties or responsibilities of the Trustee without its consent thereto in writing, or have the effect of transferring to or vesting in any Employer any interest or ownership in any properties of the Trust Fund, or of permitting the same to be used for or diverted to purposes other than for the exclusive benefit of the Participants and their Beneficiaries. No such amendment shall decrease the Account of any Participant or shall decrease any Participant's vested interest in his

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## Account. No amendment shall directly or indirectly reduce a Participant's non-forfeitable vested percentage in his benefits under Section 7.4 of the Plan, unless each Participant having not less than three years of Service is permitted to elect to have his non-forfeitable vested percentage in his benefits computed under the provisions of Section 7.4 without regard to the amendment. Such election shall be available during an election period, which shall begin on the date such amendment is adopted, and shall end on the latest of (i) the date 60 days after such amendment is adopted, (ii) the date 60 days after such amendment is effective, or (iii) the date 60 days after such Participant is issued written notice of the amendment by the Committee or the Employer. Notwithstanding anything herein to the contrary, the Plan or the Trust Agreement may be amended in such manner as may be required at any time to make it conform to the requirements of the Code or of any United States statutes with respect to employees' trusts, or of any amendment thereto, or of any regulations or rulings issued pursuant thereto, and no such amendment shall be considered prejudicial to any then existing rights of any Participant or his Beneficiary under the Plan.
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.5 <u>Acceptance of Amendment by Employers.</u> The Company may deliver to each other Employer any amendment to the Plan or the Trust Agreement by the Company or the Committee. Each such Employer will be deemed to have consented to such amendment upon the Company's execution thereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.6 <u>Termination of the Plan.</u> The Plan may be terminated, in its entirety, pursuant to the provisions of, and as of any subsequent date specified in, an instrument in writing executed by the Company, and approved and authorized by the Board, and which said instrument shall be delivered to the Trustee. A termination of the Plan as to any particular Employer (and only as to any such particular Employer) shall occur under the following circumstances:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Plan may be terminated by the delivery to the Committee of an instrument in writing approved and authorized by the board of directors of such Employer and the consent to and approval of such termination by the Committee upon the recommendation of the Board. In such event, termination of the Plan shall be effective as of any subsequent date specified in such instrument or such other date consented to by the Committee and approval and authorized by the board of directors of such Employer in a written instrument.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Except as otherwise provided in this Article X, the Plan shall terminate effective at the expiration of 60 days following the merger into another corporation or dissolution of any Employer, or following any final legal adjudication of any Employer as a bankrupt or an insolvent, unless within such time a successor organization approved by the Company shall deliver to the Trustee a written instrument certifying that such organization has (i) become the Employer of more than 50% of those Employees of such Employer who are then Participants under the Plan and (ii) adopted the Plan as to its Employees. In any such event the interest in the Plan of any Participant whose employment may not be continued by the successor shall be fully vested as of the date of termination of his Service and shall be payable in cash or in kind within 6 months from the date of termination of his Service.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) In the event of termination of the Plan as herein provided, any amounts attributable to a Participant's Pre-Tax Contributions may not be distributed earlier than upon one of the following events:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) The Participant's retirement, death, disability or separation from Service;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) The termination of the Plan without establishment or maintenance of another defined contribution plan (other than an ESOP or SEP);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) The Participant's attainment of age 59½, or the Participant's hardship;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) The sale or other disposition by an Employer to an unrelated corporation of substantially all of the assets used in a trade or business, but only with respect to Employees who continue employment with the acquiring corporation and the acquiring corporation does not maintain the Plan after the disposition; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) The sale or other disposition by an Employer of its interest in a subsidiary to an unrelated entity but only with respect to Employees who continue employment with the subsidiary and the acquiring entity does not maintain the Plan after the disposition.

A distribution may be made pursuant to the provisions of subparagraphs (iv) and (v) of this Section 10.6(c) only if the Employer continues to maintain the Plan after the disposition. A distribution may be made pursuant to subparagraphs (ii), (iv) and (v) of this Section 10.6(c) only if the distribution is a lump-sum distribution.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.7 <u>Liquidation and Distribution of Trust Fund Upon Termination.</u> In the event a complete or partial termination of the Plan in respect of any Employer shall occur, a separation of the Trust Fund in respect of the affected Participants of such Employer shall be made as of the effective date of such termination of the Plan in accordance with the procedure set forth in Section 10.2. Following separation of the Trust Fund in respect of the Participants of any Employer as to whom the Plan has been terminated, the assets and properties of the Trust Fund so set apart, other than Company Stock, shall be reduced to cash as soon as may be expeditious under the circumstances. Any administrative costs or expenses incurred incident to the final liquidation of such separate trust funds shall be paid by the Employer, except that in the case of bankruptcy or insolvency of such Employer any such costs shall be charged against the Trust Fund. Following such partial reduction of such Trust Fund to cash, the Accounts of the Participants shall then be valued as provided in Sections 5.2 and 5.4 and shall be fully vested, whereupon each such Participant shall become entitled to receive the entire amount in his Account in cash and/or Company Stock, as directed by the Committee. The terminating Employer shall promptly advise the appropriate District Director of the Internal Revenue Service of such complete or partial termination. Any distribution due to the termination of the Plan will be made in accordance with the requirements of Code Sections 401(a)(11), 411(d)(6), and 417.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.8 <u>Effect of Termination or Discontinuance of Contributions.</u> If any Employer shall terminate or partially terminate the Plan as to its Employees, then all amounts credited to the Accounts of the Participants of such Employer with respect to whom the Plan has terminated shall become fully vested and non-forfeitable. If any Employer shall completely discontinue its Contributions to the Trust Fund or suspend its Contributions to the Trust Fund under such circumstances as to constitute a complete discontinuance of Contributions within the meaning of Section 1.401-6(c) of the regulations under the Code, then all amounts credited to the Accounts of the Participants of such Employer shall become fully vested and non-forfeitable, and throughout any such period of discontinuance of Contributions by an Employer all other provisions of the Plan shall continue in full force and effect with respect to such Employer other than the provisions for Contributions by such Employer.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.9 <u>Merger of Plan with Another Plan.</u> In the event of any merger or consolidation of the Plan with, or transfer in whole or in part of the assets and liabilities of the Trust Fund to another trust fund held under, any other plan of deferred compensation maintained or to be established for the benefit of all or some of the Participants of the Plan, the assets of the Trust Fund applicable to such Participants shall be transferred to the other trust fund only if:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Each Participant would (if either the Plan or the other plan then terminated) receive a benefit immediately after the merger, consolidation or transfer which is equal to or greater than the benefit he would have been entitled to receive immediately before the merger, consolidation or transfer (if the Plan had then terminated);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Resolutions of the board of directors of the Employer under the Plan, or of any new or successor employer of the affected Participants, shall authorize such transfer of assets, and, in the case of the new or successor employer of the affected Participants, its resolutions shall include an assumption of liabilities with respect to such Participants' inclusion in the new employer's plan; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Such other plan and trust are qualified under Sections 401(a) and 501(a) of the Code.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.10 <u>Consolidation or Merger with Another Employer.</u> Notwithstanding any provision of this Article X to the contrary, upon the consolidation or merger of two or more Employers under the Plan with each other, the surviving Employer or organization shall automatically succeed to all the rights and duties under the Plan and Trust of the Employers involved, and their shares of the Trust Fund shall, subject to the provisions of Section 10.9, be merged and thereafter be allocable to the surviving Employer or organization for its Participants and their Beneficiaries.

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# <u>ARTICLE XI</u> <br><u>MISCELLANEOUS PROVISIONS</u> 
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.1 <u>Terms of Employment.</u> The adoption and maintenance of the provisions of the Plan shall not be deemed to constitute a contract between any Employer and Employee, or to be a consideration for, or an inducement or condition of, the employment of any person. Nothing herein contained shall be deemed to give to any Employee the right to be retained in the employ of an Employer or to interfere with the right of an Employer to discharge an Employee at any time, nor shall it be deemed to give to an Employer the right to require any Employee to remain in its employ, nor shall it interfere with any Employee's right to terminate his employment at any time.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.2 <u>Controlling Law.</u> Subject to the provisions of ERISA, the Plan shall be construed, regulated and administered under the laws of the State of Texas.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.3 <u>Invalidity of Particular Provisions.</u> In the event any provision of the Plan shall be held illegal or invalid for any reason, said illegality or invalidity shall not affect the remaining provisions of the Plan but shall be fully severable, and the Plan shall be construed and enforced as if said illegal or invalid provisions had never been inserted herein.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.4 <u>Non-Alienation of Benefits.</u> Except as otherwise provided below and with respect to certain judgments and settlements pursuant to Section 401(a)(13) of the Code, no benefit which shall be payable out of the Trust Fund to any person (including a Participant or Beneficiary) shall be subject in any manner to anticipation, alienation, sale, transfer, assignment, pledge, encumbrance or change, and any attempt to anticipate, alienate, sell, transfer assign, pledge, encumber or charge the same shall be voided and no such benefit shall in any manner be liable for, or subject to attachment or legal process for or against such person, and the same shall not be recognized by the Trustee, except to the extent as may be required by law.

This provision 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 Committee under the provisions of the Retirement Equity Act of 1984. The Committee 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 of the Plan. If the Committee receives a qualified domestic relations order with respect to a Participant, the Committee may authorize the immediate distribution of the amount assigned to the Participant's former Spouse pursuant to such order, to the extent vested and permitted by law, from the Participant's Accounts.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.5 <u>Payments in Satisfaction of Claims of Participants.</u> Any payment or distribution to any Participant or his legal representative or any Beneficiary in accordance with the provisions of the Plan shall be in full satisfaction of all claims under the Plan against the Trust Fund, the Trustee and the Employer. The Trustee may require that any distributee execute and deliver to the Trustee a receipt and a full and complete release as a condition precedent to any payment or distribution under the Plan.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.6 <u>Payments Due Minors and Incompetents.</u> If the Committee determines that any person to whom a payment is due hereunder is a minor or is incompetent by reason of physical or mental disability, the Committee shall have the power to cause the payments becoming due such person to be made to another for the benefit of such minor or incompetent, without the Committee or the Trustee being responsible to see to the application of such payment. To the extent permitted by ERISA, payments made pursuant to such power shall operate as a complete discharge of the Committee, the Trustee and the Employer.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.7 <u>Impossibility of Diversion of Trust Fund.</u> Notwithstanding any provision herein to the contrary, no part of the corpus or the income of the Trust Fund shall ever be used for or diverted to purposes other than for the exclusive benefit of the Participants or their Beneficiaries or for the payment of expenses of the Plan. No part of the Trust Fund shall ever directly or indirectly revert to any Employer.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.8 <u>Litigation Against the Trust.</u> If any legal action filed against the Trustee, the board of directors of any Employer, the Committee, or against any member or members of the Committee or its designees, by or on behalf of any Participant or Beneficiary, has a result adverse to such Participant or to such Beneficiary, the Trustee shall reimburse itself, the applicable board(s) of directors, the Committee and any member or members of the Committee or its designees or the applicable board(s) of directors, all costs and fees expended by it or them by surcharging all costs and fees against the sums payable under the Plan to such Participant or Beneficiary, but only to the extent a court of competent jurisdiction specifically authorizes and directs any such surcharges and only to the extent permitted under Section 401(a)(13) of the Code.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.9 <u>Evidence Furnished Conclusive.</u> The Employer, the Committee and any person involved in the administration of the Plan or management of the Trust Fund shall be entitled to rely upon any certification, statement or representation made or evidence furnished by a Participant or Beneficiary with respect to facts required to be determined under any of the provisions of the Plan, and shall not be liable on account of the payment of any monies or the doing of any act or failure to act in reliance thereon. Any such certification, statement, representation or evidence, upon being duly made or furnished, shall be conclusively binding upon such Participant or Beneficiary but not upon the Employer or the Committee or any other person involved in the administration of the Plan or management of the Trust Fund. Nothing herein contained shall be construed to prevent any of such parties from contesting any such certification, statement, representation or evidence or to relieve the Participant or Beneficiary from the duty of submitting satisfactory proof of such fact.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.10 <u>Copy Available to Participants.</u> A copy of the Plan, and of any and all future amendments thereto, shall be provided to the Committee and shall be available to Participants and, in the event of the death of a Participant, to his Beneficiary, for inspection at the offices of the Company during its regular office hours.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.11 <u>Unclaimed Benefits.</u> If at, after or during the time when a benefit hereunder is payable to any Participant, Beneficiary or other distributee, the Committee, upon request of the Trustee, or at its own instance, shall mail by registered or certified mail to such Participant, Beneficiary or other distributee at his last known address a written demand for his then address or

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## for satisfactory evidence of his continued life, or both, and if such Participant, Beneficiary or distributee shall fail to furnish the same to the Committee within a reasonable period of time not to exceed 2 years from the mailing of such demand, then the Committee may, in its sole discretion, determine that such Participant, Beneficiary or other distributee has forfeited his right to such benefit and may declare such benefit, or any unpaid portion thereof, terminated as if the death of the distributee (with no surviving Beneficiary) had occurred on the date of the last payment made thereon, or on the date such Participant, Beneficiary or distributee first became entitled to receive benefit payments, whichever is later; *provided, however*, that such forfeited benefit shall be reinstated if a claim for the same is made by the Participant, Beneficiary or other distributee at any time thereafter. Such reinstatement shall be made out of the Forfeitures for the Plan Year during which such claim was filed with the Committee (as provided in Section 4.10); and, if Forfeitures for the Plan Year are insufficient to reinstate such amounts, by the mandatory contribution by the Employer allocated solely to such reinstatement.
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.12 <u>Headings for Convenience Only.</u> The headings and subheadings herein are inserted for convenience of reference only and are not to be used in construing this instrument or any provision thereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.13 <u>Successors and Assigns.</u> This agreement shall bind and inure to the benefit of the successors and assigns of the Employers.

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# <u>ARTICLE XII</u> <br><u>TOP-HEAVY PLAN REQUIREMENTS</u> 
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.1 <u>General Rule.</u> For any Plan Year for which the Plan is a Top-Heavy Plan, as defined in Section 12.7, despite any other provisions of the Plan to the contrary, the Plan shall be subject to the provisions of this Article XII.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.2 <u>Vesting Provisions.</u> Each Participant who has completed an "hour of service" (within the meaning of Department of Labor Regulation Section 2530.200b-2(a)(1)) after the Plan becomes top-heavy and while the Plan is top-heavy and who has completed the vesting service specified in the following table shall be vested in his Account under the Plan at least as rapidly as is provided in the following schedule; except that the vesting provisions set forth in Section 7.5 shall be used at any time in which it provides for more rapid vesting:

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| | |
|:---|:---|
| &nbsp;&nbsp;<u>Years of Vesting Service</u><br>| &nbsp;&nbsp;<u>Vested Percent</u><br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Less than 1 year | &nbsp;&nbsp;0% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp;10% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2  | &nbsp;&nbsp;20% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3 | &nbsp;&nbsp;45% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4  | &nbsp;&nbsp;70% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5 or more | &nbsp;&nbsp;100% |

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## If an Account becomes vested by reason of the application of the preceding schedule, it may not thereafter be forfeited by reason of re-employment after retirement pursuant to a suspension of benefits provision, by reason of withdrawal of any mandatory employee contributions to which Employer Contributions were keyed, or for any other reason. If the Plan subsequently ceases to be top-heavy, the preceding schedule shall continue to apply with respect to any Participant who had at least three years of service (as defined in Treasury Regulation Section 1.411(a)-8T(b)(3)) as of the close of the last year that the Plan was top-heavy, except that each Participant whose vested percentage in his Account is determined under such amended schedule and who has completed at least three years of service with the Employer, may elect, during the election period, to have the vested percentage in his Account determined without regard to such amendment if his vested percentage under the Plan as amended is, at any time, less than such percentage determined without regard to such amendment. For all other Participants, the vested percentage of their Accounts prior to the date the Plan ceases to be top-heavy shall not be reduced, but future increases in the vested percentage shall be made only in accordance with the vesting provisions set forth in Section 7.4.
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.3 <u>Minimum Contribution Percentage.</u> Each Participant who is (i) a Non-Key Employee, as defined in Section 12.7, and (ii) employed on the last day of the Plan Year shall be entitled to have Contributions and Forfeitures (if applicable) allocated to his Account of not less than 3% (the "Minimum Contribution Percentage") of the Participant's Compensation. This minimum allocation percentage shall be provided without taking a Non-Key Employee's Pre-Tax Contributions into account. Even a Non-Key Employee who has completed less than 1,000 hours

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## of service shall receive a Minimum Contribution Percentage, provided that such Non-Key Employee has not terminated Service by the last day of the Plan Year. A Non-Key Employee may not fail to receive a Minimum Contribution Percentage because of a failure to receive a specified minimum amount of compensation or a failure to make mandatory employee or elective contributions. This Minimum Contribution Percentage will be reduced for any Plan Year to the percentage at which contributions (including Pre-Tax Contributions and Forfeitures, if applicable) are made or are required to be made under the Plan for the Plan Year for the Key Employee for whom such percentage is the highest for such Plan Year. For this purpose, the percentage with respect to a Key Employee will be determined by dividing the Contributions (including Pre-Tax Contributions and Forfeitures if applicable) made for such Key Employee by his total compensation (as defined in Section 415(c)(3) of the Code) not in excess of the compensation limit under Code Section 401(a)(17), with such amount automatically adjusted in the same manner as the amount set forth in Section 12.4 below.
Contributions considered under the first paragraph of this Section 12.3 shall include Employer Contributions under the Plan and under all other defined contribution plans required to be included in an Aggregation Group (as defined in Section 12.7), but will not include Employer Contributions under any plan required to be included in such aggregation group if the plan enables a defined benefit plan required to be included in such group to meet the requirements of the Code prohibiting discrimination as to contributions in favor of employees who are officers, shareholders, or the highly compensated or prescribing the minimum participation standards. If the highest rate allocated to a Key Employee for a year in which the Plan is top heavy is less than 3%, amounts contributed as a result of a salary reduction agreement must be included in determining Contributions made on behalf of Key Employees.

Employer Matching Contributions shall be taken into account for purposes of satisfying the Minimum Contribution Percentage of this Section. The preceding sentence shall apply with respect to matching contributions under the Plan or, if the Plan provides that the Minimum Contribution Percentage shall be met in another plan, such other plan. Employer Matching Contributions that are used to satisfy the Minimum Contribution Percentage shall be treated as matching contributions for purposes of the actual contribution percentage test and other requirements of Section 401(m) of the Code.

Contributions considered under this Section 12.3 shall not include any contributions under the Social Security Act or any other federal or state law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.4 <u>Limitation on Compensation.</u> The annual compensation of a Participant taken into account under this Section for purposes of computing benefits under the Plan shall not exceed the compensation limit in Code Section 401(a)(17), with such amount adjusted automatically for each Plan Year to the amount prescribed by the Secretary of the Treasury or his delegate pursuant to Section 401(a)(17)(B) of the Code and regulations for the calendar year in which such Plan Year commences.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.5 <u>Coordination with Other Plans.</u> In the event that another defined contribution or defined benefit plan maintained a Considered Company provides contributions or benefits on behalf of Participants in the Plan, such other plan shall be treated as a part of the Plan pursuant to

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## principles prescribed by applicable Treasury Regulations or Internal Revenue Service rulings to determine whether the Plan satisfies the requirements of Sections 12.2, 12.3 and 12.4 and to avoid inappropriate omissions or inappropriate duplication. If a Participant is covered both by a top-heavy defined benefit plan and a top-heavy defined contribution plan, a comparability analysis (as prescribed by Revenue Ruling 81-202 or any successor ruling) shall be performed in order to establish that the plans are providing benefits at least equal to the defined benefit minimum. Such determination shall be made upon the advice of counsel by the Committee which shall, if necessary, cause benefits or contributions to be made sufficient.
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.6 <u>Distributions to Certain Key Employees.</u> Notwithstanding any other provision of the Plan to the contrary, the entire interest in the Plan of each Participant who is a Key Employee and a "5% Owner" (as defined in Section 12.7(d)) in the calendar year in which such individual attains age 70½ shall be distributed to such Participant not later than April 1 following the calendar year in which such individual attains age 70½.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.7 <u>Determination of Top-Heavy Status.</u> The Plan shall be a Top-Heavy Plan for any Plan Year if, as of the Determination Date, the aggregate of the accounts under the Plan (determined as of the Valuation Date) for Participants (including former Participants) who are Key Employees exceeds 60% of the aggregate of the accounts of all Participants, excluding former Key Employees, or if the Plan is required to be in an Aggregation Group, any such Plan Year in which such Group is a Top-Heavy Group. In determining Top-Heavy status, if an individual has not performed one hour of service for any Considered Company at any time during the 1-year period ending on the Determination Date, any accrued benefit for such individual and the aggregate accounts of such individual shall not be taken into account.

For purposes of this Section, the capitalized words have the following meanings:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) "Aggregation Group" means the group of plans, if any, that includes both the group of plans required to be aggregated and the group of plans permitted to be aggregated. The group of plans required to be aggregated (the "required aggregation group") includes:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) Each plan of a Considered Company in which a Key Employee is a participant in the Plan Year containing the Determination Date; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) Each other plan, including collectively bargained plans, of a Considered Company which, during this period, enables a plan in which a Key Employee is a participant to meet the requirements of Section 401(a)(4) or 410 of the Code.

The group of plans that are permitted to be aggregated (the "permissive aggregation group") includes the required aggregation group plus one or more plans of a Considered Company that is not part of the required aggregation group and that the Considered Company certifies as a plan within the permissive aggregation group. Such plan or plans may be added to the permissive aggregation group only if, after the addition, the

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aggregation group as a whole continues to satisfy the requirements of Sections 401(a)(4) and 410 of the Code.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) "Considered Company" means the Company, the Employer or an Affiliate.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) "Determination Date" means the last day of the immediately preceding Plan Year.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) "Key Employee" means any Employee or former Employee (including any deceased Employee) under the Plan who, at any time during the Plan Year that includes the Determination Date, is or was one of the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) An officer of a Considered Company having an annual compensation greater than $230,000 (as adjusted under Section 416(i)(1) of the Code);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) A person who owns (or is considered as owning, within the meaning of the constructive ownership rules of Section 416(i)(1)(B)(iii) of the Code) more than 5% of the outstanding stock of a Considered Company or stock possessing more than 5% of the combined voting power of all stock of the Considered Company (a "5% Owner"); or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) A person who has an annual compensation from the Considered Company of more than $150,000 and who owns (or is considered as owning within the meaning of the constructive ownership rules of Section 416(i)(1)(B) of the Code) more than 1% of the outstanding stock of the Considered Company or stock possessing more than 1% of the total combined voting power of all stock of the Considered Company (a "1% Owner").

For purposes of this subsection (d), (i) whether an individual is an officer shall be determined by the Considered Company on the basis of all the facts and circumstances, such as an individual's authority, duties, and term of office, not on the mere fact that the individual has the title of an officer, (ii) for any Plan Year, no more than 50 Employees (or if less, the greater of 3 or 10% of the Employees) shall be treated as officers, (iii) a Beneficiary of a Key Employee shall be treated as a Key Employee; (iv) in the case of a 5% or 1% Owner determination, each Considered Company is treated separately in determining ownership percentages, but all such Considered Companies shall be considered a single employer in determining the amount of compensation, and (v) compensation means all items includable as compensation for purpose of applying the limitations on annual additions to a Participant's account in a defined contribution plan and the maximum benefit payable under a defined benefit plan under Section 415(c)(3) of the Code. The determination of who is a Key Employee shall be made in accordance with Section 416(i)(1) of the Code and the applicable regulations and other guidance issued thereunder.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) "Non-Key Employee" means any Employee (and any Beneficiary of an Employee) who is not a Key Employee. In any case where an individual is a Non-Key Employee with respect to an applicable plan but was a Key Employee with respect to such plan for any prior Plan Year, any accrued benefit and any account of such Employee shall be altogether disregarded.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) "Top-Heavy Group" means the Aggregation Group if, as of the applicable Determination Date, the sum of the present value of the cumulative accrued benefits for Key Employees under all defined benefit plans included in the Aggregation Group plus the aggregate of the accounts of Key Employees under all defined contribution plans included in the Aggregation Group exceeds 60% of the sum of the present value of the cumulative accrued benefits for all employees (excluding former Key Employees), as provided in paragraph (i) below, under all such defined benefit plans plus the aggregate accounts for all employees (excluding former Key Employees), as provided in paragraph (i) below, under all such defined contribution plans. In determining Top-Heavy status, if an individual has not performed one hour of service for any Considered Company at any time during the 1-year period ending on the Determination Date, any accrued benefit for such individual and the aggregate accounts of such individual shall not be taken into account. If the Aggregation Group that is a Top-Heavy Group is a required aggregation group, each plan in the group will be a Top-Heavy Plan. If the Aggregation Group that is a Top-Heavy Group is a permissive aggregation group, only those plans that are part of the required aggregation group will be treated as Top-Heavy Plans. If the Aggregation Group is not a Top-Heavy Group, no plan within such group will be a Top-Heavy Plan.

In determining whether the Plan constitutes a Top-Heavy Plan, the Committee (or its agent) will make the following adjustments:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) When more than one plan is aggregated, the Committee shall determine separately for each plan as of each plan's Determination Date the present value of the accrued benefits (for this purpose using the actuarial assumptions set forth in the applicable plan) or account balance, including distributions to Key Employees and all employees. The results shall then be aggregated by adding the results of each plan as of the Determination Dates for such plans that fall within the same calendar year. The combined results shall indicate whether or not the plans so aggregated are Top-Heavy Plans.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) In determining the present value of the cumulative accrued benefit (for this purpose using the actuarial assumptions set forth in the applicable pension plan) or the amount of the account of any employee, such present value or account balance shall be increased by the amount in dollar value of the aggregate distributions made with respect to the employee under the Plan and any plan aggregated with the Plan under Section 416(g)(2) of the Code during the 1-year period ending on the Determination Date. The preceding sentence shall also apply to distributions under a terminated plan which, had it not been terminated, would have been aggregated with the Plan under Section 416(g)(2)(A)(i) of the Code. In

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the case of a distribution made for a reason other than severance from employment, death, or disability, this provision shall be applied by substituting "5-year period" for "1-year period." The amounts will include distributions to employees representing the entire amount credited to their accounts under the applicable plan. The accrued benefits and accounts of any individual who has not performed services for a Considered Company during the 1-year period ending on the Determination Date shall not be taken into account.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) Further, in making such determination, such present value or such account balance shall include any rollover contribution (or similar transfer), as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) If the Rollover Contribution (or similar transfer) is "unrelated" (both initiated by the employee and made to or from a plan maintained by another employer who is not a Considered Company), the plan providing the distribution shall include such distribution in the present value of such account; the plan accepting the distribution shall not include such distribution in the present value of such account unless the plan accepted it before December 31, 1983; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) If the Rollover Contribution (or similar transfer) is "related" (either not initiated by the employee or made from a plan maintained by another Considered Company), the plan making the distribution shall not include the distribution in the present value of such account; and the plan accepting the distribution shall include such distribution in the present value of such account.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) "Valuation Date" means for purposes for determining the present value of an accrued benefit as of the Determination Date, the date determined as of the most recent valuation date which is within a 12-month period ending on the Determination Date. For the first plan year of a plan, the accrued benefit for a current employee shall be determined either (i) as if the individual terminated service as of the Determination Date or (ii) as if the individual terminated service as of the Valuation Date but taking into account the estimated accrued benefit as of the Determination Date. The Valuation Date shall be determined in accordance with the principles set forth in Q&A. T-25 of Treasury Regulation Section 1.416-1.

Except as otherwise provided in this Section, for purposes of this Article, "Compensation" shall have the meaning given to it in Section 5.3 of the Plan.

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# <u>ARTICLE XIII</u> <br><u>TESTING OF CONTRIBUTIONS</u> 
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13.1 <u>Definitions.</u> For purposes of this Article XIII, the following terms, when capitalized, shall be defined as:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) "Actual Contribution Percentage" or "ACP" shall mean, with respect to a Plan Year, for a specified group of Employees (either Highly Compensated Employees or Non-Highly Compensated Employees) the average of the ratios, calculated separately for each Employee, of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) The sum of the Aggregate Contributions paid under the Plan on behalf of each Employee for a Plan Year that are made on account of the Employee's Contributions for the Plan Year, which are allocated to the Employee's Account during such Plan Year, and are paid to the Trust no later than the end of the next following Plan Year, *over*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) The Employee's Compensation for such Plan Year.

An Employee's Actual Contribution Percentage shall be determined after determining his Excess Deferrals and Excess Contributions, if any. The Actual Contribution Percentage of an eligible Employee who does not have any Aggregate Contributions for a Plan Year is zero. The individual ratios and Actual Contribution Percentages shall be calculated to the nearest 1/100 of 1% of an Employee's Compensation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) "Actual Deferral Percentage" or "ADP" shall mean, with respect to a Plan Year, for a specified group of Employees (either Highly Compensated Employees or Non-Highly Compensated Employees) the average of the ratios, calculated separately for each Employee, of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) The amount of Employer Contributions actually paid to the Plan on behalf of each such Employee for a Plan Year that relate to Compensation that either (1) would have been received by the Employee in such Plan Year but for the deferral election or (2) is attributable to services performed by the Employee in the Plan Year and would have been received by the Employee within 2½ months after the close of the Plan Year but for the deferral election and which are allocated to the Employee's Account and are paid to the Trust no later than the end of the next following Plan Year, *over*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) The Employee's Compensation for such Plan Year.

The Actual Deferral Percentage of an eligible Employee who does not have any Employer Contributions for a Plan Year is zero. The individual ratios and Actual Deferral Percentages shall be calculated to the nearest 1/100 of 1% of an Employee's Compensation.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) "Aggregate Contributions" shall mean, as applicable, any of the following: (i) Employer Matching Contributions; (ii) After-Tax Contributions; (iii) QNECs and QMACs that have not been included in the ADP test; (iv) Pre-Tax Contributions that are not needed to satisfy the ADP test, provided such test is satisfied before and after such Pre-Tax Contributions have been included in the ACP test for the current Plan Year; and (v) with respect to Highly Compensated Employees, Excess Contributions that have been recharacterized as After-Tax Contributions. Aggregate Contributions shall not include (i) Employer Matching Contributions that are forfeited either to correct Excess Aggregate Contributions or because the contributions to which they relate are Excess Deferrals, Excess Contributions or Excess Aggregate Contributions or (ii) Employer Matching Contributions or After-Tax Contributions made pursuant to Code Section 414(u) by reason of a Participant's qualified military service.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) "Compensation" shall mean compensation as defined in Treas. Reg. Section 1.414(s)-1(c) for services rendered to an Employer during the Plan Year.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) "Employee" shall mean each Employee eligible to participate in the Plan in accordance with Section 3.1 of the Plan, including those eligible Employees who do not elect to make Pre-Tax and/or After-Tax Contributions, and who is an "eligible employee" as defined in Treasury Regulation Section 1.401(k)-6.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) "Employer Contributions" shall mean, as applicable, any of the following: (i) Pre Tax Contributions, including any Excess Deferrals made by Highly Compensated Employees, but excluding Catch-Up Contributions and any Pre-Tax Contributions made pursuant to Code Section 414(u) by reason of a Participant's qualified military service; and (ii) QNECs and QMACs that have not been used to satisfy the ACP test for the current Plan Year.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) "Excess Aggregate Contributions" shall mean, with respect to any Plan Year, the excess of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) The sum of the Aggregate Contributions actually taken into account in computing the ACP of Highly Compensated Employees for such Plan Year, *minus*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) The maximum amount of Aggregate Contributions permitted by the ACP test for the Plan Year (determined by hypothetically reducing contributions made on behalf of Highly Compensated Employees in order of their ACP beginning with the highest of such percentages).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) "Excess Contributions" shall mean, with respect to any Plan Year, the excess of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) The sum of the Employer Contributions actually taken into account in computing the ADP of Highly Compensated Employees for such Plan Year, *minus*

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) The maximum amount of such Employer Contributions permitted by the ADP test for the Plan Year (determined by hypothetically reducing contributions made on behalf of Highly Compensated Employees in order of their ADP, beginning with the highest of such percentages).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) "Excess Deferrals" shall have the meaning provided in Section 4.1 of the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) "Highly Compensated Employee" shall mean any Employee and any employee of an Affiliate who is a highly compensated employee under Section 414(q) of the Code, including any Employee and any employee of an Affiliate who:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) was a 5% owner during the current Plan Year or prior Plan Year; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) received Compensation during the prior Plan Year (as defined in Section 5.3) in excess of $160,000 or such other dollar amount as may be prescribed by the Secretary of the Treasury or his delegate, excluding Employees described in Code Section 414(q)(8).

In determining an Employee's status as a Highly Compensated Employee within the meaning of Section 414(q), the entities set forth in Treasury Regulation Section 1.414(q)-1T Q&A-6(a)(1) through (4) must be taken into account as a single employer. A former Employee shall be treated as a Highly Compensated Employee if (1) such former Employee was a Highly Compensated Employee when he separated from Service, or (2) such former Employee was a Highly Compensated Employee in Service at any time after attaining age 55.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k) "Non-Highly Compensated Employee" shall mean an Employee who is not a Highly Compensated Employee.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l) "QNECs" shall have the meaning provided in Section 4.5 of the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(m) "QMACs" shall mean qualifying matching contributions, as defined under Treasury Regulation Section 1.401(k)-6 and 1.401(m)-5, which are Employer Matching Contributions that are allocated to eligible Participants for a Plan Year in which the Plan failed to satisfy the ADP test or ACP test and which satisfy the non-forfeitability and distribution requirements for Pre-Tax Contributions at the time it is allocated to a Participant's Account in accordance with Treasury Regulation Section 1.401(k)-5 and satisfy the requirements of Treasury Regulation Sections 1.401(k)-2 and 1.401(m)-2. QMACs used in applying the ADP test may not be used in applying the ACP test.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13.2 <u>Actual Deferral Percentage Test.</u> The ADP for the eligible Highly Compensated Employees for the Plan Year shall not exceed the greater of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The ADP for the eligible Non-Highly Compensated Employees times 1.25; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The lesser of (i) the ADP for the eligible Non-Highly Compensated Employees times 2.0, or (ii) the ADP for the eligible Non-Highly Compensated Employees plus 2%.

The Plan applies the Actual Deferral Percentage test using (i) the "current year testing method" described in Treasury Regulation Section 1.401(k)-2 for Highly Compensated Employees and Non-Highly Compensated Employees. The ADP for any Highly Compensated Employee who is eligible to have Pre-Tax Contributions allocated to his account under two or more plans described in Section 401(k) of the Code that are maintained by an Employer or an Affiliate in addition to the Plan shall be determined as if the total of all such contributions were made under a single plan. If a Highly Compensated Employee participates in two or more plans that have different plan years, all Pre-Tax Contributions made during the Plan Year under all such arrangements shall be aggregated. In the event the Plan satisfies the requirements of Code Section 401(k), 401(a)(4), or 410(b) only if aggregated with one or more other plans, or if one or more other plans satisfy the requirements of such sections of the Code only if aggregated with the Plan, then this Section shall be applied by determining the ADP of Employees as if all such plans were a single plan. Plans may be aggregated in order to satisfy Code Section 401(k) only if they have the same plan year and use the same ADP testing method.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13.3 <u>QNECs and QMACs.</u> The Company, in its sole discretion, may elect to make QNECs or QMACs for any Plan Year in any amount it determines is necessary to satisfy or contribute to satisfying the Actual Deferral Percentage test or the Actual Contribution Percentage test. QNECs and QMACs may be used in lieu of, or in conjunction with, the distributions or recharacterizations described in Section 13.4 or the forfeitures or distributions described in Section 13.6 of the Plan. QNECs and QMACs shall be allocated in a manner determined by the Company, in accordance with Treasury Regulation Section 1.401(a)(4)-2, among the Pre-Tax Contribution Accounts of Non-Highly Compensated Employees who were eligible to make Pre-Tax Contributions during the Plan Year for which the QNECs are made at any time during the Plan Year or no later than 12 months after the end of the Plan Year. Any portion of the QNECs or QMACs taken into account for purposes of the Actual Contribution Percentage test in Section 13.5, may not be taken into account for purposes of the Actual Deferral Percentage test in Section 13.2. QNECs must satisfy the non-disproportionate contributions requirements of Treasury Regulation Sections 1.401(k)-2(a)(6)(iv) and 1.401(m)-2(a)(6)(iv).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13.4 <u>Excess Contributions.</u> If neither of the tests described in (a) or (b) of Section 13.2 are satisfied, and the Company decides not to make QNECs or QMACs as a corrective measure, then Excess Contributions, plus any income and minus any loss attributable thereto, of certain Highly Compensated Employees will be recharacterized or distributed and shall be considered taxable income to such Highly Compensated Employees. Excess Contributions are allocated to the Highly Compensated Employees with the largest amount of Pre-Tax Contributions taken into

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## account in calculating the ADP test for the year in which the excess arose, beginning with the Highly Compensated Employee with the largest amount of such Pre-Tax Contributions and continuing in descending order until all of the Excess Contributions have been allocated. To the extent a Highly Compensated Employee has not reached his Catch-Up Contribution limit under the Plan, Excess Contributions shall be allocated to such Highly Compensated Employee as Catch Up Contributions (not to exceed the Catch-Up Contribution limit) and such contributions will not be treated as Excess Contributions. Excess Contributions shall be treated as Annual Additions under the Plan even if distributed.
If, in lieu of distribution, the Committee decides, in its discretion, to correct Excess Contributions through recharacterization of such as After-Tax Contributions, then such amounts recharacterized as After-Tax Contributions, plus any income and minus any loss, shall be transferred to the After-Tax Contribution Accounts of those affected Highly Compensated Employees who have been allocated with Excess Contributions. The amount to be recharacterized will be further reduced by the amount of any Excess Deferrals which may have previously been distributed to the Highly Compensated Employee. Recharacterized amounts will remain nonforfeitable. Amounts may not be recharacterized to the extent that such amount in combination with other After-Tax Contributions made by certain Highly Compensated Employees would exceed the stated limits provided in Section 4.4 of the Plan. Recharacterization must occur no later than the date specified by applicable regulations and guidance issued under Code Sections 401(k) and 401(m) and is deemed to occur no earlier than the date the last affected Highly Compensated Employee is informed in writing of the amount recharacterized and the consequences thereof.

If recharacterization is not possible due to Plan limits or if, in its discretion, the Committee decides to correct Excess Contributions through distribution, the amount of Excess Contributions allocated to each Highly Compensated Employee, plus any income and minus any losses through the last day of the Plan Year to which such Excess Contributions relate, and minus the amount of any Excess Deferrals previously distributed, will be distributed to the affected Highly Compensated Employee as soon as administratively feasible but in no event later than 12 months following the end of such Plan Year during which the Excess Contributions were made.

The income or loss attributable to a Highly Compensated Employee's Excess Contributions for the Plan Year shall be the income or loss attributable to the Highly Compensated Employee's Pre-Tax Contributions Account for the Plan Year multiplied by a fraction, the numerator of which is the Excess Contributions and the denominator of which is the amount of the Highly Compensated Employee's Pre-Tax Contributions Account balance as of the beginning of the Plan Year plus the Employee's Pre-Tax Contributions to the Account during the Plan Year.

If distributions or recharacterizations are made under this Section 13.4, the Actual Deferral Percentage is treated as meeting the nondiscrimination test of Section 401(k)(3) of the Code, regardless of whether the Actual Deferral Percentage, if recalculated after such distributions or recharacterizations, would satisfy Section 401(k)(3) of the Code. The above procedures are used for purposes of distributing Excess Contributions under Section 401(k)(8)(A)(i) of the Code. Excess Contributions shall be treated as Annual Additions under Section 5.3 of the Plan.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13.5 <u>Actual Contribution Percentage Test.</u> The Contribution Percentage for the eligible Employees for any Plan Year who are Highly Compensated Employees shall not exceed the greater of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The ACP for the eligible Non-Highly Compensated Employees times 1.25; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The lesser of (i) the ACP for the eligible Non-Highly Compensated Employees times 2.0, or (ii) the ACP for Non-Highly Compensated Employees plus 2%.

The Plan applies the Actual Contribution Percentage test using the "current year testing method" described in Treasury Regulation Section 1.401(m)-2 for Highly Compensated Employees and Non-Highly Compensated Employees. In computing the Actual Contribution Percentage, the Company may elect to take into account Pre-Tax Contributions and QNECs and QMACs made under the Plan or any other plan of the Company to the extent that (i) Pre-Tax Contributions and/or QNECs and QMACs are not used for purposes of calculating the ADP test, and (ii) Pre-Tax Contributions, including those treated as Aggregate Contributions for purposes of calculating the Actual Contribution Percentage, satisfy the requirements of Code Section 401(k)(3). The ACP for any Highly Compensated Employee who is eligible to have Aggregate Contributions allocated to his account under two or more plans described in Section 401(a) or 401(k) of the Code that are maintained by an Employer or an Affiliate in addition to the Plan shall be determined as if the total of all such contributions were made under a single plan. If a Highly Compensated Employee participates in two or more such plans or arrangements that have different plan years, all Aggregate Contributions made during the Plan Year under all such plans and arrangements shall be aggregated.

For purposes of determining whether the ACP limits of this Section 13.5 are satisfied, all Aggregate Contributions that are made under two or more plans that are aggregated for purposes of Code Section 401(a)(4) or 410(b) are to be treated as made under a single plan and if two or more plans are permissively aggregated for purposes of Code Section 401(m) the aggregated plans must also satisfy Code Sections 401(a)(4) and 410(b) as though they were a single plan. Plans may be aggregated in order to satisfy Code Section 401(m) only if they have the same Plan Year and use the same ACP testing method.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13.6 <u>Excess Aggregate Contributions.</u> If neither of the tests described in (a) or (b) of Section 13.5 are satisfied, and the Company decides not to make QNECs or QMACs as a corrective measure, Excess Aggregate Contributions, plus any income and minus any loss attributable thereto, shall be forfeited, or if not forfeitable, shall be distributed no later than 12 months after the close of a Plan Year to Participants to whose accounts such Excess Aggregate Contributions were allocated. Excess Aggregate Contributions are allocated to the Highly Compensated Employees with the largest Aggregate Contributions taken into account in calculating the ACP test for the year in which the excess arose, beginning with the Highly Compensated Employee with the largest amount of such Aggregate Contributions and continuing in descending order until all the Excess Aggregate Contributions have been allocated. Excess Aggregate Contributions shall be treated as Annual Additions under the Plan even if distributed.

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The income or loss attributable to the Highly Compensated Employee's Excess Aggregate Contributions for the Plan Year shall be the income or loss attributable to the Highly Compensated Employee's Employer Matching Account and After-Tax Contribution Account for the Plan Year multiplied by a fraction, the numerator of which is the Excess Aggregate Contribution, and the denominator of which is the amount of the Highly Compensated Employee's Employer Matching Contribution Account and After-Tax Contribution Account without regard to any income or loss occurring during such Plan Year.

Any forfeiture of Excess Aggregate Contributions shall be applied to reduce Employer Matching Contributions for the Plan Year in which the excess arose. Should the amount of forfeited Excess Aggregate Contributions exceed the amount of Employer Matching Contributions needed for the Plan Year, such forfeitures shall be allocated, after all other forfeitures under the Plan, to the Employer Matching Contribution Accounts of each Non-Highly Compensated Employee who made Pre-Tax Contributions to the Plan, in the ratio that each such Employee's Pre Tax Contributions for the Plan Year bears to the total Pre-Tax Contributions of all such Employees for such Plan Year.

If forfeitures or distributions are made under this Section, the Actual Contribution Percentage test is treated as meeting the nondiscrimination test of Section 401(m)(2) of the Code, regardless of whether the Actual Contribution Percentage, if recalculated after such forfeitures and/or distributions, would satisfy Section 401(m)(2) of the Code. Excess Aggregate Contributions shall be treated as Annual Additions under Section 5.3 of the Plan.

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IN WITNESS WHEREOF, Eagle Materials Inc. has caused these presents to be executed by its duly authorized officers in a number of copies, all of which shall constitute one and the same instrument, which may be sufficiently evidenced by any executed copy thereof, this 6th day of November, 2025, but effective as of January 1, 2026.

**EAGLE MATERIALS INC.**

By <u>/s/ D. Craig Kesler</u> 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;D. Craig Kesler

Executive Vice President – Finance and<br>Administration and Chief Financial Officer

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**EAGLE MATERIALS INC. RETIREMENT PLAN**

**(As Amended and Restated Effective January 1, 2026)**

**APPENDIX A**

<u>Employer Matching Contributions</u>

This *Appendix A* forms a part of the Plan.

Except as otherwise defined in this *Appendix A*, the terms used in this *Appendix A* shall have the meanings ascribed to them in the Plan, unless the context clearly indicates otherwise. The provisions of this *Appendix A* govern Employer Matching Contributions as follows:

Each Hourly Participant who is a Tulsa Employee, Illinois Cement Employee, Sugar Creek Employee, Fairborn Employee and Nevada Cement Employee shall be eligible for Employer Profit Sharing Contributions under Section 4.2(b) for each Plan Year in which an Eligible Employee is also eligible for Employer Matching Contributions under this *Appendix A*.

**<u>Section A.I – Definitions</u>**

For purposes of the Plan, the definitions of "Contribution" and "Forfeiture" shall be applied in a manner to include Employer Matching Contributions under such defined terms, as applicable.

**<u>Section A.II – Employer Matching Contribution</u>**

Employer Matching Contributions made under the Plan for each Hourly Participant and, only to the extent specifically designated below, Salaried Participant are as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Each Participant who is employed by Republic Paperboard Company LLC ("Republic Paperboard Employee") shall be eligible to receive an Employer Matching Contribution, on a payroll period basis, in an amount equal to $.75 for each $1.00 of Pre-Tax Contributions made by such employee up to the first 6% of the Republic Paperboard Employee's Compensation;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Each Participant who is employed by Audubon Materials LLC ("Sugar Creek Employee") and subject to the collective bargaining agreement shall be eligible to receive an Employer Matching Contribution, on a payroll period basis, in an amount equal to: (i) $0.25 for each $1.00 of Pre-Tax Contributions made by such employee up to the first 6% of the Sugar Creek Employee's Eligible Compensation earned during the period May 1, 2016 through April 30, 2020; (ii) $0.375 for each $1.00 of Pre-Tax Contributions made by such employee up to the first 6% of the Sugar Creek Employee's Eligible Compensation earned during the period May 1, 2020 through December 31, 2024; and (iii) $1.00 for each $1.00 of Pre-Tax Contributions made by such employee up to the first 6% of the Sugar Creek Employee's Eligible Compensation earned on or after January 1, 2025;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Each Participant who is employed by Tulsa Cement LLC ("Tulsa Employee") and subject to the collective bargaining agreement shall be eligible to receive an Employer Matching Contribution, on a payroll period basis, in an amount equal to: (i) $.50 for each $1.00 of Pre-Tax Contributions made by such employee up to the first 4% of the Tulsa Employee's Eligible Compensation earned during the period January 1, 2015 through December 31, 2023; and (ii) $1.00 for each $1.00 of Pre-Tax Contributions made by such employee up to the first 6% of the Tulsa Employee's Eligible Compensation earned on or after January 1, 2024;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Each Participant who is employed by Illinois Cement Company LLC and whose employment is subject to a collective bargaining agreement ("Illinois Cement Employee") shall be eligible to receive an Employer Matching Contribution, on a payroll period basis, in an amount equal to: (i) $0.25 for each $1.00 of Pre-Tax Contributions made by such employee up to the first 4% of the Illinois Cement Employee's Eligible Compensation earned during the period April 1, 2015 through December 31, 2016; (ii) $0.50 for each $1.00 of Pre-Tax Contributions made by such employee up to the first 4% of the Illinois Cement Employee's Eligible Compensation earned during the period January 1, 2017 through December 31, 2023; and (iii) $1.00 for each $1.00 of Pre-Tax Contributions made by such employee up to the first 6% of the Illinois Cement Employee's Eligible Compensation earned on or after January 1, 2024;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) Effective February 11, 2017, each Participant who is employed by Fairborn Cement Company LLC ("Fairborn Employee") and subject to a collective bargaining agreement shall be eligible to receive an Employer Matching Contribution, on a payroll period basis, in an amount equal to $.80 for each $1.00 of Pre-Tax Contributions made by such employee up to the first 6% of the Fairborn Employee's Eligible Compensation earned on and after February 11, 2017;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) Each Participant who is employed by Nevada Cement Company ("Nevada Employee") and subject to a collective bargaining agreement as a member of Local Union 169 shall be eligible to receive an Employer Matching Contribution, on a payroll period basis, in an amount equal to (i) $0.25 for each $1.00 of Pre-Tax Contributions made by such Nevada Employee up to the first 4% of the Nevada Employee's Eligible Compensation earned during the period January 1, 2020 through December 31, 2023; and (ii) $.50 for each $1.00 of Pre-Tax Contributions made by such employee up to the first 4% of the Nevada Employee's Eligible Compensation earned on or after January 1, 2024;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) Effective as of March 7, 2020, each Participant who is employed by Kosmos Cement Company LLC ("Kosmos Employee") and subject to a collective bargaining agreement as a member of Local Union D595 shall be eligible to receive an Employer Matching Contribution, on a payroll period basis, in

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an amount equal to 80% of Pre-Tax Contributions made by such employee up to 6% of the Kosmos Employee's Eligible Compensation. Each Participant who is a Kosmos Employee and not subject to a collective bargaining agreement shall receive an Employer Matching Contribution, on a payroll period basis, in an amount equal to $1.00 for each $1.00 of Pre-Tax Contributions made by such employee up to 6% of the Kosmos Employee's Eligible Compensation;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) Effective March 31, 2023, each Participant who is employed by Battletown Materials LLC ("Battletown Employee") and subject to a collective bargaining agreement as a member of Local Union D595 shall be eligible to receive an Employer Matching Contribution, on a payroll period basis, in an amount equal to 80% of Pre-Tax Contributions made by such employee up to 6% of the Battletown Employee's Eligible Compensation earned on or after March 31, 2023;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) Effective May 3, 2023, each Participant who is a Nevada Employee and subject to a collective bargaining agreement as a member of Local Union 2182 shall be eligible to receive an Employer Matching Contribution, on a payroll period basis, in an amount equal to $.50 for each $1.00 of Pre-Tax Contributions made by such employee up to the first 6% of the Nevada Employee's Eligible Compensation earned on or after May 3, 2023, and such Employer Matching Contributions shall vest 100% on such Participant completing 3 Years of Vesting Service;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) Effective August 9, 2024, each Participant who is a Battletown Employee, a former employee of Hilltop Big Bend Quarry LLC ("BBQ") or its Affiliate that became an Eligible Employee on or about August 9, 2024 in connection with the acquisition of substantially all of the assets of BBQ's mining, distributing and selling aggregates business, and not subject to a collective bargaining agreement shall receive an Employer Matching Contribution, on a payroll period basis, in an amount equal to $1.00 for each $1.00 of Pre-Tax Contributions made by such employee up to 5% of the Battletown Employee's Eligible Compensation earned on or after August 9, 2024;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k) Effective January 1, 2025, each Participant who is employed by Kansas City ReadyMix LLC ("Talon Employee") and was formerly subject to, immediately prior to such date, a collective bargaining agreement as a member of Local Union 541 shall be eligible to receive an Employer Matching Contribution, on a payroll period basis, in an amount equal to $1.00 for each $1.00 of Pre-Tax Contributions made by such employee up to 5% of the Talon Employee's Eligible Compensation;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l) Effective January 1, 2025, each Participant who is employed by Audubon ReadyMix LLC ("Quicksilver Employee") shall be eligible to receive an Employer Matching Contribution, on a payroll period basis, in an amount equal to $1.00 for each $1.00 of Pre-Tax Contributions made by such

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employee up to 5% of the Quicksilver Employee's Eligible Compensation; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(m) Effective January 7, 2025, each Hourly and Salaried Participant who is employed by Bullskin Stone & Lime, LLC ("Bullskin Employee") shall be eligible to receive an Employer Matching Contribution, on a payroll period basis, in an amount equal to $1.00 for each $1.00 of Pre-Tax Contributions made by such employee up to 4% of the Bullskin Employee's Eligible Compensation.

Employer Matching Contributions received in the Trust Fund since the preceding Valuation Date shall be allocated to the eligible Participants' Employer Matching Accounts based on the percentage of each such Participant's eligible Pre-Tax Contributions as determined pursuant to this subsection (a) and invested in the Investment Funds and Company Stock Fund in accordance with the Participant's instructions pursuant to Section 9.3 of the Plan.

**<u>Section A.III - Miscellaneous</u>**

Subject to, and consistent with, the provisions of this *Appendix A*, all other provisions of the Plan, including, but not limited to the vesting provisions in Section 7.4, shall apply with respect to Employer Matching Contributions provided under this *Appendix A*.

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**<br>EAGLE MATERIALS INC. RETIREMENT PLAN**

**(As Amended and Restated Effective January 1, 2026)**

**APPENDIX B**

<u>Prior Wildcat Plan Accounts</u>

This *Appendix B* forms a part of the Plan.

Except as otherwise defined in this *Appendix B*, the terms used in this *Appendix B* shall have the meanings ascribed to them in the Plan, unless the context clearly indicates otherwise. The provisions of this *Appendix B* address certain aspects of the merger to the Wildcat Plan with and into the Plan and the accounts under the Wildcat Plan.

**<u>Section B.I – Wildcat Plan</u>**

Effective as of January 1, 2018, the account balances in the Elements PEO Retirement Savings Plan, an IRS pre-approved volume submitter plan, maintained for employee and employer contributions made by and on behalf of current and former employees of Wildcat Minerals LLC, an affiliate of the Company ("***Wildcat***"), who are Eligible Employees (or would have been in the case of former employees), prior to January 1, 2018 (the "***Wildcat Plan***") are transferred to and merged into the Plan. Notwithstanding anything in the Plan to the contrary, the provisions of this *Appendix B* shall apply to Participants who are (i) active or former employees of Wildcat (or its predecessor) who are participants in the Wildcat Plan as of December 31, 2017 and (ii) as of January 1, 2018, are Eligible Employees (or would have been in the case of former employees) ("***Wildcat Participants***"). Capitalized terms used in this *Appendix* B that are defined in the Plan shall have the same meanings assigned to them in the Plan. As used in this *Appendix B*, the following words and phrases shall have the following meanings unless the context clearly requires a different meaning.

**<u>Section B.II – Wildcat Plan Accounts</u>**

The amounts in a Wildcat Participant's pre-tax deferral, Roth, pre-tax rollover, and Roth rollover accounts under the Wildcat Plan immediately prior to January 1, 2018 are maintained in such Participant's Pre-Tax Contribution Account (including any catch-up contributions), Roth Contribution Account, Pre-Tax Rollover Account and Roth Rollover Account, respectively. The amounts credited to a Wildcat Participant's employer matching contribution account under the Wildcat Plan immediately prior to January 1, 2018 are maintained in a separate, frozen "Wildcat Employer Matching Contribution Accounts" established and maintained under the Plan to record such contributions, and earnings thereon. No further contributions shall be credited to the Wildcat Matching Account.

**<u>Section B.III - Withdrawals from Wildcat Employer Matching Contribution Accounts</u>**

A Wildcat Participant who has attained age 59½ and who has not terminated Service, in accordance with such administrative procedures adopted by the Committee in its sole

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discretion, may make withdrawals from the Participant's Wildcat Employer Matching Contribution Accounts (as defined in Section B.I above).

**<u>Section B.IV - Vesting</u>** 

The amounts in the Wildcat Employer Matching Contribution Accounts shall be subject to the following vesting schedule:

---

| | |
|:---|:---|
| &nbsp;&nbsp;<u>Years of Vesting Service</u> | &nbsp;&nbsp;<u>Vested Percent</u> |
| &nbsp;&nbsp;Less than 1 | &nbsp;&nbsp;0% |
| &nbsp;&nbsp;1 | &nbsp;&nbsp;33% |
| &nbsp;&nbsp;2 | &nbsp;&nbsp;66% |
| &nbsp;&nbsp;3 or more | &nbsp;&nbsp;100% |

---

If a Wildcat Participant terminates Service and, at the time of such termination, the present value of the Participant's vested Wildcat Employer Matching Contribution Account balance is zero, the Participant will be deemed to have received a distribution of such vested benefit as of the last day of the Plan Year in which he first incurs a Break in Service. The forfeiture provisions in Section 7.4(b) will apply to any unvested portion of the Wildcat Employer Matching Contribution Account that is forfeited upon a Participant's termination of employment.

In the event the Employer makes future Employer Matching Contributions under the Plan on behalf of the Wildcat Participants, the vesting schedule applicable to such future Employer Matching Contributions shall be no less favorable than the vesting schedule in this Section 3.

**<u>Section B.V – Prior Service Credit</u>** 

Notwithstanding any provision of the Plan to the contrary, The Wildcat Plan is a Merged Plan and thus a Wildcat Participant's Service shall include his hours of service or service credited under the Wildcat Plan (as determined under the terms of such plan) as of December 31, 2017, including, but not limited to, for purposes of Section 3.1(c) (eligibility for Employer Profit Sharing Contribution) and Section 3.6 (Vesting Service) of the Plan.

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**EAGLE MATERIALS INC. RETIREMENT PLAN**

**(As Amended and Restated January 1, 2026)**

**APPENDIX C**

<u>Participating Employers</u>

This *Appendix C* forms a part of the Plan and sets forth the list of the Plan's Employers (in addition to the Company) as of January 1, 2026:

---

| | |
|:---|:---|
| &nbsp;&nbsp;**<u>Adopting Employer</u>** | **<u>Effective Date</u>** |
| &nbsp;&nbsp;Centex Materials LLC | March 15, 1995 |
| &nbsp;&nbsp;Mountain Cement Company | March 15, 1995 |
| &nbsp;&nbsp;American Gypsum Company LLC | April 1, 1995 |
| &nbsp;&nbsp;Rio Grande Drywall Supply Company | April 1, 1995 |
| &nbsp;&nbsp;Republic Paperboard LLC | November 10, 2000 |
| &nbsp;&nbsp;American Gypsum Marketing Company | March 27, 2001 |
| &nbsp;&nbsp;Nevada Cement Company | February 1, 2002 |
| &nbsp;&nbsp;Illinois Cement Company | April 1, 2002 |
| &nbsp;&nbsp;AG Dallas LLC | April 23, 2004 |
| &nbsp;&nbsp;AG South Carolina LLC | December 1, 2004 |
| &nbsp;&nbsp;Kansas City Aggregate LLC | December 1, 2012 |
| &nbsp;&nbsp;Kansas City FlyAsh LLC | December 1, 2012 |
| &nbsp;&nbsp;Kansas City ReadyMix LLC | December 1, 2012 |
| &nbsp;&nbsp;Audubon Materials LLC | December 1, 2012 |
| &nbsp;&nbsp;Audubon ReadyMix LLC<br>Tulsa Cement LLC | December 1, 2012<br>December 1, 2012 |
| &nbsp;&nbsp;Skyway Cement LLC | July 11, 2015 |
| &nbsp;&nbsp;Fairborn Cement Company <br>3D Concrete LLC | February 11, 2017<br>August 3, 2019 |
| &nbsp;&nbsp;Kosmos Cement Company LLC | March 7, 2020 |
| &nbsp;&nbsp;Raptor Materials LLC<br>Battletown Materials LLC<br>Bullskin Stone & Lime, LLC | April 22, 2022<br>March 31, 2023<br>January 7, 2025 |

---

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## Exhibit 31.1

**Exhibit 31.1**

**Certification of Periodic Report Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002** 

I, Michael R. Haack, certify that:

1. I have reviewed this report on Form 10-Q of Eagle Materials Inc.;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures [as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)] and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. The registrant's other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of registrant's board of directors (or persons performing the equivalent functions):

a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Dated: January 29, 2026

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| | |
|:---|:---|
| By | /s/ Michael R. Haack  |
|  | Michael R. Haack<br>President and Chief Executive Officer |

---

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## Exhibit 31.2

**Exhibit 31.2** 

**Certification of Periodic Report Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002** 

I, D. Craig Kesler, certify that:

1. I have reviewed this report on Form 10-Q of Eagle Materials Inc.;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures [as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)] and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. The registrant's other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of registrant's board of directors (or persons performing the equivalent functions):

a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Dated: January 29, 2026

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| | |
|:---|:---|
| By | /s/ D. Craig Kesler |
|  | D. Craig Kesler<br>Chief Financial Officer<br>(Principal Financial Officer) |

---

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## Exhibit 32.1

**Exhibit 32.1** 

**Certification of Periodic Report Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002** 

In connection with the Quarterly Report of Eagle Materials Inc. and subsidiaries (the "Company") on Form 10-Q for the period ended December 31, 2025 as filed with the Securities and Exchange Commission on the date hereof (the "Report"), I, Michael R. Haack, President and Chief Executive Officer of the Company, certify, pursuant to 18 U.S.C. section 1350, as adopted pursuant to section 906 of the Sarbanes-Oxley Act of 2002, that, to the best of my knowledge:

&nbsp;&nbsp;&nbsp;&nbsp;(i)the Report fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

&nbsp;&nbsp;&nbsp;&nbsp;(ii)the information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

Dated: January 29, 2026

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| | |
|:---|:---|
| By | /s/ Michael R. Haack |
|  | Michael R. Haack<br>President and Chief Executive Officer |

---

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## Exhibit 32.2

**Exhibit 32.2** 

**Certification of Periodic Report Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002** 

In connection with the Quarterly Report of Eagle Materials Inc. and subsidiaries (the "Company") on Form 10-Q for the period ended December 31, 2025 as filed with the Securities and Exchange Commission on the date hereof (the "Report"), I, D. Craig Kesler, Chief Financial Officer of the Company, certify, pursuant to 18 U.S.C. section 1350, as adopted pursuant to section 906 of the Sarbanes-Oxley Act of 2002, that, to the best of my knowledge:

&nbsp;&nbsp;&nbsp;&nbsp;(i)the Report fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

&nbsp;&nbsp;&nbsp;&nbsp;(ii)the information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

Dated: January 29, 2026

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| | |
|:---|:---|
| By | /s/ D. Craig Kesler |
|  | D. Craig Kesler<br>Chief Financial Officer<br>(Principal Financial Officer) |

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## Ex-95

***Exhibit 95*** 

***MINE SAFETY DISCLOSURE***

&nbsp;&nbsp;Section 1503 of the Dodd-Frank Wall Street Reform and Consumer Protection Act contains reporting requirements regarding mine safety. The operation of our quarries is subject to regulation by the federal Mine Safety and Health Administration, or MSHA, under the Federal Mine Safety and Health Act of 1977, or the Mine Act. Set forth below is the required information regarding certain mining safety and health matters for the Quarter 3 FY 2026 October 1 – December 31, 2025, for our facilities. In evaluating this information, consideration should be given to factors such as: (i) the number of citations and orders will vary depending on the size of the quarry, (ii) the number of citations issued will vary from inspector-to-inspector and mine-to-mine, and (iii) citations and orders can be contested and appealed, and in that process, may be reduced in severity and amount, and are sometimes dismissed. <br>

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| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;Mine or Operating Name/MSHA <br>Identification Number | &nbsp;&nbsp;Section 104 S&S Citations | &nbsp;&nbsp;Section 104(b) Orders | &nbsp;&nbsp;Section 104(d) Citations and Orders | &nbsp;&nbsp;Section 110(b)(2) Violations | &nbsp;&nbsp;Section 107(a) Orders | &nbsp;&nbsp;Total Dollar Value of MSHA Assessments Proposed | &nbsp;&nbsp;Total Number of Mining Related Fatalities | &nbsp;&nbsp;Received Notice of Pattern of Violations Under Section 104(e)<br>(yes/no)  | &nbsp;&nbsp;Received Notice of Potential to Have Pattern Under Section 104(e)<br>(yes/no) | &nbsp;&nbsp;Legal Actions Pending as of Last Day of Period | &nbsp;&nbsp;Legal Actions Initiated During Period | &nbsp;&nbsp;Legal Actions Resolved During Period |
| &nbsp;&nbsp;3D Concrete LLC<br>Lyon, Nevada (2602412) | &nbsp;&nbsp;42 | &nbsp;&nbsp;1 | &nbsp;&nbsp;5 | &nbsp;&nbsp;0 | &nbsp;&nbsp;0 | &nbsp;&nbsp;$25319 | &nbsp;&nbsp;0 | &nbsp;&nbsp;No | &nbsp;&nbsp;No | &nbsp;&nbsp;0 | &nbsp;&nbsp;0 | &nbsp;&nbsp;0 |
| &nbsp;&nbsp;American Gypsum Company LLC<br>Albuquerque, NM (2900181) | &nbsp;&nbsp;0 | &nbsp;&nbsp;0 | &nbsp;&nbsp;0 | &nbsp;&nbsp;0 | &nbsp;&nbsp;0 | &nbsp;&nbsp;$0 | &nbsp;&nbsp;0 | &nbsp;&nbsp;No | &nbsp;&nbsp;No | &nbsp;&nbsp;0 | &nbsp;&nbsp;0 | &nbsp;&nbsp;0 |
| &nbsp;&nbsp;American Gypsum Company LLC<br>Duke, OK (3400256) | &nbsp;&nbsp;0 | &nbsp;&nbsp;0 | &nbsp;&nbsp;0 | &nbsp;&nbsp;0 | &nbsp;&nbsp;0 | &nbsp;&nbsp;$0 | &nbsp;&nbsp;0 | &nbsp;&nbsp;No | &nbsp;&nbsp;No | &nbsp;&nbsp;0 | &nbsp;&nbsp;0 | &nbsp;&nbsp;0 |
| &nbsp;&nbsp;American Gypsum Company LLC<br>Eagle, CO (0503997) | &nbsp;&nbsp;0 | &nbsp;&nbsp;0 | &nbsp;&nbsp;0 | &nbsp;&nbsp;0 | &nbsp;&nbsp;0 | &nbsp;&nbsp;$0 | &nbsp;&nbsp;0 | &nbsp;&nbsp;No | &nbsp;&nbsp;No | &nbsp;&nbsp;0 | &nbsp;&nbsp;0 | &nbsp;&nbsp;0 |
| &nbsp;&nbsp;Battletown Materials LLC<br>Meade, KY (1518147) | &nbsp;&nbsp;0 | &nbsp;&nbsp;0 | &nbsp;&nbsp;0 | &nbsp;&nbsp;0 | &nbsp;&nbsp;0 | &nbsp;&nbsp;$0 | &nbsp;&nbsp;0 | &nbsp;&nbsp;No | &nbsp;&nbsp;No | &nbsp;&nbsp;0 | &nbsp;&nbsp;0 | &nbsp;&nbsp;0 |
| &nbsp;&nbsp;Battletown Quarry<br>Battletown, KY (1500040) | &nbsp;&nbsp;0 | &nbsp;&nbsp;0 | &nbsp;&nbsp;0 | &nbsp;&nbsp;0 | &nbsp;&nbsp;0 | &nbsp;&nbsp;$0 | &nbsp;&nbsp;0 | &nbsp;&nbsp;No | &nbsp;&nbsp;No | &nbsp;&nbsp;0 | &nbsp;&nbsp;0 | &nbsp;&nbsp;0 |
| &nbsp;&nbsp;Bullskin Stone & Lime, LLC, Fayette, PA<br>(3610047) | &nbsp;&nbsp;0 | &nbsp;&nbsp;0 | &nbsp;&nbsp;0 | &nbsp;&nbsp;0 | &nbsp;&nbsp;0 | &nbsp;&nbsp;$151 | &nbsp;&nbsp;0 | &nbsp;&nbsp;No | &nbsp;&nbsp;No | &nbsp;&nbsp;0 | &nbsp;&nbsp;0 | &nbsp;&nbsp;0 |
| &nbsp;&nbsp;Centex Materials LLC<br>Buda, TX (4102241) | &nbsp;&nbsp;0 | &nbsp;&nbsp;0 | &nbsp;&nbsp;0 | &nbsp;&nbsp;0 | &nbsp;&nbsp;0 | &nbsp;&nbsp;$797 | &nbsp;&nbsp;0 | &nbsp;&nbsp;No | &nbsp;&nbsp;No | &nbsp;&nbsp;0 | &nbsp;&nbsp;0 | &nbsp;&nbsp;0 |
| &nbsp;&nbsp;Central Plains Cement Company LLC<br>Sugar Creek, MO (2302171) | &nbsp;&nbsp;12 | &nbsp;&nbsp;0 | &nbsp;&nbsp;0 | &nbsp;&nbsp;0 | &nbsp;&nbsp;0 | &nbsp;&nbsp;$55444 | &nbsp;&nbsp;0 | &nbsp;&nbsp;No | &nbsp;&nbsp;No | &nbsp;&nbsp;1<sup>(1)</sup> | &nbsp;&nbsp;0 | &nbsp;&nbsp;0 |
| &nbsp;&nbsp;Central Plains Cement Company LLC, Tulsa, OK (3400026) | &nbsp;&nbsp;7 | &nbsp;&nbsp;0 | &nbsp;&nbsp;0 | &nbsp;&nbsp;0 | &nbsp;&nbsp;0 | &nbsp;&nbsp;$0 | &nbsp;&nbsp;0 | &nbsp;&nbsp;No | &nbsp;&nbsp;No | &nbsp;&nbsp;2<sup>(1)</sup> | &nbsp;&nbsp;0 | &nbsp;&nbsp;0 |
| &nbsp;&nbsp;Fairborn Cement Company LLC<br>Greene County, OH (3300161) | &nbsp;&nbsp;3 | &nbsp;&nbsp;0 | &nbsp;&nbsp;0 | &nbsp;&nbsp;0 | &nbsp;&nbsp;0 | &nbsp;&nbsp;$0 | &nbsp;&nbsp;0 | &nbsp;&nbsp;No | &nbsp;&nbsp;No | &nbsp;&nbsp;0 | &nbsp;&nbsp;0 | &nbsp;&nbsp;0 |
| &nbsp;&nbsp;Illinois Cement Company LLC<br>LaSalle, IL (1100003) | &nbsp;&nbsp;1 | &nbsp;&nbsp;0 | &nbsp;&nbsp;0 | &nbsp;&nbsp;0 | &nbsp;&nbsp;0 | &nbsp;&nbsp;$2823 | &nbsp;&nbsp;0 | &nbsp;&nbsp;No | &nbsp;&nbsp;No | &nbsp;&nbsp;0 | &nbsp;&nbsp;0 | &nbsp;&nbsp;0 |
| &nbsp;&nbsp;Kosmos Cement Company LLC<br>Jefferson, KY (1504469) | &nbsp;&nbsp;2 | &nbsp;&nbsp;0 | &nbsp;&nbsp;0 | &nbsp;&nbsp;0 | &nbsp;&nbsp;0 | &nbsp;&nbsp;$2056 | &nbsp;&nbsp;0 | &nbsp;&nbsp;No | &nbsp;&nbsp;No | &nbsp;&nbsp;0 | &nbsp;&nbsp;0 | &nbsp;&nbsp;0 |
| &nbsp;&nbsp;Mountain Cement Company LLC<br>Laramie, WY (4800007) | &nbsp;&nbsp;4 | &nbsp;&nbsp;0 | &nbsp;&nbsp;0 | &nbsp;&nbsp;0 | &nbsp;&nbsp;0 | &nbsp;&nbsp;$0 | &nbsp;&nbsp;0 | &nbsp;&nbsp;No | &nbsp;&nbsp;No | &nbsp;&nbsp;0 | &nbsp;&nbsp;0 | &nbsp;&nbsp;0 |
| &nbsp;&nbsp;Nevada Cement Company LLC<br>Fernley, NV (2600015) | &nbsp;&nbsp;0 | &nbsp;&nbsp;0 | &nbsp;&nbsp;0 | &nbsp;&nbsp;0 | &nbsp;&nbsp;0 | &nbsp;&nbsp;$0 | &nbsp;&nbsp;0 | &nbsp;&nbsp;No | &nbsp;&nbsp;No | &nbsp;&nbsp;0 | &nbsp;&nbsp;0 | &nbsp;&nbsp;0 |
| &nbsp;&nbsp;Raptor Materials LLC Weld, CO (115) (504681) | &nbsp;&nbsp;4 | &nbsp;&nbsp;0 | &nbsp;&nbsp;0 | &nbsp;&nbsp;0 | &nbsp;&nbsp;0 | &nbsp;&nbsp;$2227 | &nbsp;&nbsp;0 | &nbsp;&nbsp;No | &nbsp;&nbsp;No | &nbsp;&nbsp;1<sup>(1)</sup> | &nbsp;&nbsp;1<sup>(1)</sup> | &nbsp;&nbsp;0 |
| &nbsp;&nbsp;Raptor Materials LLC Weld, CO (Two Rivers) (505192) | &nbsp;&nbsp;0 | &nbsp;&nbsp;0 | &nbsp;&nbsp;0 | &nbsp;&nbsp;0 | &nbsp;&nbsp;0 | &nbsp;&nbsp;$0 | &nbsp;&nbsp;0 | &nbsp;&nbsp;No | &nbsp;&nbsp;No | &nbsp;&nbsp;0 | &nbsp;&nbsp;0 | &nbsp;&nbsp;0 |
| &nbsp;&nbsp;Seguin Sand<br>Guadalupe, TX (4105665) | &nbsp;&nbsp;0 | &nbsp;&nbsp;0 | &nbsp;&nbsp;0 | &nbsp;&nbsp;0 | &nbsp;&nbsp;0 | &nbsp;&nbsp;$0 | &nbsp;&nbsp;0 | &nbsp;&nbsp;No | &nbsp;&nbsp;No | &nbsp;&nbsp;0 | &nbsp;&nbsp;0 | &nbsp;&nbsp;0 |
| &nbsp;&nbsp;Texas Lehigh Cement Company LP<br>Buda, TX (4102781) | &nbsp;&nbsp;1 | &nbsp;&nbsp;0 | &nbsp;&nbsp;0 | &nbsp;&nbsp;0 | &nbsp;&nbsp;0 | &nbsp;&nbsp;$15614 | &nbsp;&nbsp;0 | &nbsp;&nbsp;No | &nbsp;&nbsp;No | &nbsp;&nbsp;2<sup>(1)</sup> | &nbsp;&nbsp;0 | &nbsp;&nbsp;0 |

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<sup>(1)</sup> All legal actions were penalty contests.

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