Document:

Barclays Bank PLC Senior Management Deferred Compensation Plan

 Exhibit 4.1 
 BARCLAYS BANK PLC 
 SENIOR MANAGEMENT 

DEFERRED COMPENSATION PLAN 
 AMENDED AND RESTATED, EFFECTIVE JANUARY 1, 2008 

 Barclays Bank PLC Senior Management Deferred Compensation Plan 
  

			
	 ARTICLE I
	  	
	 Establishment and Purpose
	  	1
		
	 ARTICLE II
	  	
	 Definitions
	  	1
		
	 ARTICLE III
	  	
	 Eligibility and Participation
	  	8
		
	 ARTICLE IV
	  	
	 Deferrals
	  	9
		
	 ARTICLE V
	  	
	 Company Contributions
	  	12
		
	 ARTICLE VI
	  	
	 Benefits
	  	12
		
	 ARTICLE VII
	  	
	 Modifications to Payment Schedules
	  	16
		
	 ARTICLE VIII
	  	
	 Valuation of Account Balances; Investments
	  	17
		
	 ARTICLE IX
	  	
	 Administration
	  	18
		
	 ARTICLE X
	  	
	 Amendment and Termination
	  	19
		
	 ARTICLE XI
	  	
	 Informal Funding
	  	20
		
	 ARTICLE XII
	  	
	 Claims
	  	20
		
	 ARTICLE XIII
	  	
	 General Provisions
	  	27

 Barclays Bank PLC Senior Management Deferred Compensation Plan 
  

 ARTICLE I 
 Establishment and Purpose 
 Barclays Bank, PLC (the “Company”) hereby amends and restates the Barclays Bank PLC Senior Management
Deferred Compensation Plan (the “Plan”), effective January 1, 2008. This amendment and restatement applies only to amounts deferred under the Plan on or after January 1, 2005, and to amounts deferred prior to January 1, 2005
that were not vested as of December 31, 2004. Amounts deferred under the Plan prior to January 1, 2005 that were vested as of December 31, 2004 (the “Grandfathered Accounts”) shall be subject to the provisions of the Plan as
in effect on October 3, 2004, as the same may be amended from time to time by the Company without material modification, it being expressly intended that such Grandfathered Accounts are to remain exempt from the requirements of Code
Section 409A. The provisions of the Plan applicable to Grandfathered Accounts are reflected in this document for ease of reference. 
 The purpose of
the Plan is to attract and retain key employees by providing each Participant with an opportunity to defer receipt of a portion of their salary, bonus, and other specified compensation. The Plan is not intended to meet the qualification requirements
of Code Section 401(a), but is intended to meet the requirements of Code Section 409A, and shall be operated and interpreted consistent with that intent. 
 The Plan constitutes an unsecured promise by a Participating Employer to pay benefits in the future. Participants in the Plan shall have the status of general unsecured creditors of the Company or the Adopting Employer, as applicable. Each
Participating Employer shall be solely responsible for payment of the benefits of its employees and their beneficiaries. The Plan is unfunded for Federal tax purposes and is intended to be an unfunded arrangement for eligible employees who are part
of a select group of management or highly compensated employees of the Employer within the meaning of Sections 201(2), 301(a)(3) and 401(a)(1) of ERISA. Any amounts set aside to defray the liabilities assumed by the Company or an Adopting Employer
will remain the general assets of the Company or the Adopting Employer and shall remain subject to the claims of the Company’s or the Adopting Employer’s creditors until such amounts are distributed to the Participants. 
 ARTICLE II 
 Definitions 
  

	2.1	Account. Account means a bookkeeping account maintained by the Committee to record the payment obligation of a Participating Employer to a Participant as determined under the
terms of the Plan. The Committee may maintain an Account to record the total obligation to a Participant and component Accounts to reflect amounts payable at different times and in different forms. Reference to an Account means any such Account
established by the Committee, as the context requires. Accounts are intended to constitute unfunded obligations within the meaning of Sections 201(2), 301(a)(3) and 401(a)(1) of ERISA. 

  

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	2.2	Account Balance. Account Balance means, with respect to any Account, the total payment obligation owed to a Participant from such Account as of the most recent Valuation
Date. 

  

	2.3	Adopting Employer. Adopting Employer means an Affiliate who, with the consent of the Company, has adopted the Plan for the benefit of its eligible employees.

  

	2.4	Affiliate. Affiliate means a corporation, trade or business that, together with the Company, is treated as a single employer under Code Section 414(b) or (c).

  

	2.5	Beneficiary. Beneficiary means a natural person, estate, or trust designated by a Participant to receive payments to which a Beneficiary is entitled in accordance with
provisions of the Plan. The Participant’s spouse, if living, otherwise the Participant’s estate, shall be the Beneficiary if: (i) the Participant has failed to properly designate a Beneficiary, or (ii) all designated
Beneficiaries have predeceased the Participant. 

 A former spouse shall have no interest under the Plan, as Beneficiary or
otherwise, unless the Participant designates such person as a Beneficiary after dissolution of the marriage, except to the extent provided under the terms of a domestic relations order as described in Code Section 414(p)(1)(B). 
  

	2.6	Business Day. A Business Day is each day on which the New York Stock Exchange is open for business. 

  

	2.7	Change in Control. Change in Control, with respect to a Participating Employer that is organized as a corporation, occurs on the date on which any of the
following events occur (i) a change in the ownership of the Participating Employer; (ii) a change in the effective control of the Participating Employer; (iii) a change in the ownership of a substantial portion of the assets of the
Participating Employer. 

 For purposes of this Section, a change in the ownership of the Participating Employer occurs on the
date on which any one person, or more than one person acting as a group, acquires ownership of stock of the Participating Employer that, together with stock held by such person or group constitutes more than 50% of the total fair market value or
total voting power of the stock of the Participating Employer. A change in the effective control of the Participating Employer occurs on the date on which either (i) a person, or more than one person acting as a group, acquires ownership of
stock of the Participating Employer possessing 30% or more of the total voting power of the stock of the Participating Employer, taking into account all such stock acquired during the 12-month period ending on the date of the most recent
acquisition, or (ii) a majority of the members of the Participating Employer’s Board of Directors is replaced during any 12-month period by directors whose appointment or election is not endorsed by a majority of the members of such Board
of Directors prior to the date of the appointment or election, but only if no other corporation is a majority shareholder of the Participating Employer . A change in the ownership of a substantial portion of assets occurs on the date on which any
one person, or more than one person acting as a group, other than a person or group of 

  

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persons that is related to the Participating Employer, acquires assets from the Participating Employer that have a total gross fair market value equal to or
more than 40% of the total gross fair market value of all of the assets of the Participating Employer immediately prior to such acquisition or acquisitions, taking into account all such assets acquired during the 12-month period ending on the date
of the most recent acquisition. 
 An event constitutes a Change in Control with respect to a Participant only if the Participant performs
services for the Participating Employer that has experienced the Change in Control, or the Participant’s relationship to the affected Participating Employer otherwise satisfies the requirements of Treasury Regulation
Section 1.409A-3(i)(5)(ii). 
 The determination as to the occurrence of a Change in Control shall be based on objective facts and in
accordance with the requirements of Code Section 409A. 
  

	2.8	Claimant. Claimant means a Participant or Beneficiary filing a claim under Article XII of this Plan. 

  

	2.9	Code. Code means the Internal Revenue Code of 1986, as amended from time to time. 

  

	2.10	Code Section 409A. Code Section 409A means section 409A of the Code, and regulations and other guidance issued by the Treasury Department and Internal Revenue
Service thereunder. 

  

	2.11	Committee. Committee means the committee appointed by the Board of Directors of the Company (or the appropriate committee of such board) to administer the Plan. If no
designation is made, the Chief Executive Officer of the Company or his delegate shall have and exercise the powers of the Committee. 

  

	2.12	Company. Company means Barclays Bank PLC. 

  

	2.13	Company Contribution. Company Contribution means a credit by a Participating Employer to a Participant’s Account(s) in accordance with the provisions of Article V of the
Plan. Company Contributions are credited at the sole discretion of the Participating Employer and the fact that a Company Contribution is credited in one year shall not obligate the Participating Employer to continue to make such Company
Contribution in subsequent years. Unless the context clearly indicates otherwise, a reference to Company Contribution shall include Earnings attributable to such contribution. 

  

	2.14	Compensation. Compensation means a Participant’s base salary, bonus, commission, and such other cash or equity-based compensation (if any) approved by the Committee as
Compensation that may be deferred under this Plan. Compensation shall not include any compensation that has been previously deferred under this Plan or any other arrangement subject to Code Section 409A. 

  

	2.15	 Compensation Deferral Agreement. Compensation Deferral Agreement means an agreement between a Participant and a Participating Employer that specifies
(i) the 

  

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amount of each component of Compensation that the Participant has elected to defer to the Plan in accordance with the provisions of Article IV, and
(ii) the Payment Schedule applicable to one or more Accounts. The Committee may permit different deferral amounts for each component of Compensation and may establish a minimum or maximum deferral amount for each such component. Unless
otherwise specified by the Committee in the Compensation Deferral Agreement, Participants may defer up to 90% of their base salary and up to 100% of other types of Compensation for a Plan Year. A Compensation Deferral Agreement may also specify the
investment allocation described in Section 8.4. 

  

	2.16	Death Benefit. Death Benefit means the benefit payable under the Plan to a Participant’s Beneficiary(ies) upon the Participant’s death as provided in
Section 6.1 of the Plan. 

  

	2.17	Deferral. Deferral means a credit to a Participant’s Account(s) that records that portion of the Participant’s Compensation that the Participant has elected to
defer to the Plan in accordance with the provisions of Article IV. Unless the context of the Plan clearly indicates otherwise, a reference to Deferrals includes Earnings attributable to such Deferrals. 

 Deferrals shall be calculated with respect to the gross cash Compensation payable to the Participant prior to any deductions or withholdings, but shall be
reduced by the Committee as necessary so that it does not exceed 100% of the cash Compensation of the Participant remaining after deduction of all required income and employment taxes, 401(k) and other employee benefit deductions, and other
deductions required by law. Changes to payroll withholdings that affect the amount of Compensation being deferred to the Plan shall be allowed only to the extent permissible under Code Section 409A. 
  

	2.18	Disability Benefit. Disability Benefit means the benefit payable under the Plan to a Participant in the event such Participant is determined to be Disabled.

  

	2.19	Disabled. Disabled means that a Participant is, by reason of any medically-determinable physical or mental impairment which can be expected to result in death or can be
expected to last for a continuous period of not less than twelve months, (i) unable to engage in any substantial gainful activity, or (ii) receiving income replacement benefits for a period of not less than three months under an accident
and health plan covering employees of the Participant’s employer. The Committee shall determine whether a Participant is Disabled in accordance with Code Section 409A provided, however, that a Participant shall be deemed to be Disabled if
determined to be totally disabled by the Social Security Administration or the Railroad Retirement Board. 

  

	2.20	Earnings. Earnings means an adjustment to the value of an Account in accordance with Article VIII. 

  

	2.21	Effective Date. Effective Date means January 1, 2008. 

  

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	2.22	Eligible Employee. Eligible Employee means a member of a “select group of management or highly compensated employees” of a Participating Employer within the meaning
of Sections 201(2), 301(a)(3) and 401(a)(1) of ERISA, as determined by the Committee from time to time in its sole discretion. 

  

	2.23	Employee. Employee means a common-law employee of an Employer. 

  

	2.24	Employer. Employer means, with respect to Employees it employs, the Company and each Affiliate. 

  

	2.25	ERISA. ERISA means the Employee Retirement Income Security Act of 1974, as amended from time to time. 

  

	2.26	Fiscal Year Compensation. Fiscal Year Compensation means Compensation earned during one or more consecutive fiscal years of a Participating Employer, all of which is paid
after the last day of such fiscal year or years. 

  

	2.27	Grandfathered Account. Grandfathered Account means amounts deferred under the Plan prior to January 1, 2005 that were vested as of December 31, 2004.

  

	2.28	Participant. Participant means an Eligible Employee who has received notification of his or her eligibility to defer Compensation under the Plan under Section 3.1 and
any other person with an Account Balance greater than zero, regardless of whether such individual continues to be an Eligible Employee. A Participant’s continued participation in the Plan shall be governed by Section 3.2 of the Plan.

  

	2.29	Participating Employer. Participating Employer means the Company and each Adopting Employer. 

  

	2.30	Payment Schedule. Payment Schedule means the date as of which payment of an Account under the Plan will commence and the form in which payment of such Account will be made.

  

	2.31	Performance-Based Compensation. Performance-Based Compensation means Compensation where the amount of, or entitlement to, the Compensation is contingent on the satisfaction
of pre-established organizational or individual performance criteria relating to a performance period of at least twelve consecutive months. Organizational or individual performance criteria are considered pre-established if established in writing
by not later than ninety (90) days after the commencement of the period of service to which the criteria relate, provided that the outcome is substantially uncertain at the time the criteria are established. The determination of whether
Compensation qualifies as “Performance-Based Compensation” will be made in accordance with Treas. Reg. Section 1.409A-1(e) and subsequent guidance. 

  

	2.32	 Plan. Generally, the term Plan means the “Barclays Bank PLC Senior Management Deferred Compensation Plan” as documented herein and as may be
amended from time 

  

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to time hereafter. However, to the extent permitted or required under Code Section 409A, the term Plan may in the appropriate context also mean a
portion of the Plan that is treated as a single plan under Treas. Reg. Section 1.409A-1(c), or the Plan or portion of the Plan and any other nonqualified deferred compensation plan or portion thereof that is treated as a single plan under such
section. 

  

	2.33	Plan Year. Plan Year means January 1 through December 31. 

  

	2.34	Retirement. Retirement means a Participant’s Separation from Service after attainment of age 55. 

  

	2.35	Retirement Benefit. Retirement Benefit means the benefit payable to a Participant under the Plan following the Retirement of the Participant. 

  

	2.36	Retirement/Termination Account. Retirement/Termination Account means an Account established by the Committee to record the amounts payable to a Participant upon Separation
from Service. Unless the Participant has established a Specified Date Account, all Deferrals and Company Contributions shall be allocated to a Retirement/Termination Account on behalf of the Participant. 

  

	2.37	Separation from Service. An Employee incurs a Separation from Service upon termination of employment with the Employer. Whether a Separation from Service has occurred shall
be determined by the Committee in accordance with Code Section 409A. 

 Except in the case of an Employee on a bona fide
leave of absence as provided below, an Employee is deemed to have incurred a Separation from Service if the Employer and the Employee reasonably anticipated that the level of services to be performed by the Employee after a date certain would be
reduced to 20% or less of the average services rendered by the Employee during the immediately preceding 36-month period (or the total period of employment, if less than 36 months), disregarding periods during which the Employee was on a bona fide
leave of absence. 
 An Employee who is absent from work due to military leave, sick leave, or other bona fide leave of absence shall incur a
Separation from Service on the first date immediately following the later of (i) the six-month anniversary of the commencement of the leave or (ii) the expiration of the Employee’s right, if any, to reemployment under statute or
contract. 
 For purposes of determining whether a Separation from Service has occurred, the Employer means the Employer as defined in
Section 2.24 of the Plan, except that for purposes of determining whether another organization is an Affiliate of the Company, common ownership of at least 50% shall be determinative. 
 The Committee specifically reserves the right to determine whether a sale or other disposition of substantial assets to an unrelated party constitutes a
Separation from Service with respect to a Participant providing services to the seller immediately prior to 

  

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the transaction and providing services to the buyer after the transaction. Such determination shall be made in accordance with the requirements of Code
Section 409A. 
  

	2.38	Specified Date Account. A Specified Date Account means an Account established by the Committee to record the amounts payable at a future date as specified in the
Participant’s Compensation Deferral Agreement. Unless otherwise determined by the Committee, a Participant may maintain no more than five Specified Date Accounts. A Specified Date Account may be identified in enrollment materials as an
“In-Service Account” or such other name as established by the Committee without affecting the meaning thereof. 

  

	2.39	Specified Date Benefit. Specified Date Benefit means the benefit payable to a Participant under the Plan in accordance with Section 6.1(c). 

  

	2.40	Specified Employee. Specified Employee means an Employee who, as of the date of his Separation from Service, is a “key employee” of the Company or any Affiliate,
any stock of which is actively traded on an established securities market or otherwise. 

 An Employee is a key employee if he
meets the requirements of Code Section 416(i)(1)(A)(i), (ii), or (iii) (applied in accordance with applicable regulations thereunder and without regard to Code Section 416(i)(5)) at any time during the 12-month period ending on the
Specified Employee Identification Date. Such Employee shall be treated as a key employee for the entire 12-month period beginning on the Specified Employee Effective Date. 
 For purposes of determining whether an Employee is a Specified Employee, the compensation of the Employee shall be determined in accordance with the definition of compensation provided under Treas. Reg.
Section 1.415(c)-2(d)(3) (wages within the meaning of Code section 3401(a) for purposes of income tax withholding at the source, plus amounts excludible from gross income under section 125(a), 132(f)(4), 402(e)(3), 402(h)(1)(B), 402(k) or
457(b), without regard to rules that limit the remuneration included in wages based on the nature or location of the employment or the services performed); provided, however, that, with respect to a nonresident alien who is not a Participant in the
Plan, compensation shall not include compensation that is not includible in the gross income of the Employee under Code Sections 872, 893, 894, 911, 931 and 933, provided such compensation is not effectively connected with the conduct of a trade or
business within the United States. 
 Notwithstanding anything in this paragraph to the contrary, (i) if a different definition of
compensation has been designated by the Company with respect to another nonqualified deferred compensation plan in which a key employee participates, the definition of compensation shall be the definition provided in Treas. Reg.
Section 1.409A-1(i)(2), and (ii) the Company may through action that is legally binding with respect to all nonqualified deferred compensation plans maintained by the Company, elect to use a different definition of compensation.

 In the event of corporate transactions described in Treas. Reg. Section 1.409A-1(i)6), the identification of Specified Employees shall
be determined in accordance with the default 

  

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rules described therein, unless the Employer elects to utilize the available alternative methodology through designations made within the timeframes
specified therein. 
  

	2.41	Specified Employee Identification Date. Specified Employee Identification Date means December 31, unless the Employer has elected a different date through action that is
legally binding with respect to all nonqualified deferred compensation plans maintained by the Employer. 

  

	2.42	Specified Employee Effective Date. Specified Employee Effective Date means the first day of the fourth month following the Specified Employee Identification Date, or such
earlier date as is selected by the Committee. 

  

	2.43	Substantial Risk of Forfeiture. Substantial Risk of Forfeiture shall have the meaning specified in Treas. Reg. Section 1.409A-1(d). 

  

	2.44	Termination Benefit. Termination Benefit means the benefit payable to a Participant under the Plan following the Participant’s Separation from Service prior to
Retirement. 

  

	2.45	Unforeseeable Emergency. An Unforeseeable Emergency means a severe financial hardship to the Participant resulting from an illness or accident of the Participant, the
Participant’s spouse, the Participant’s dependent (as defined in Code section 152, without regard to section 152(b)(1), (b)(2), and (d)(1)(B)), or a Beneficiary; loss of the Participant’s property due to casualty (including the need
to rebuild a home following damage to a home not otherwise covered by insurance, for example, as a result of a natural disaster); or other similar extraordinary and unforeseeable circumstances arising as a result of events beyond the control of the
Participant. The types of events which may qualify as an Unforeseeable Emergency may be limited by the Committee. 

  

	2.46	Valuation Date. Valuation Date shall mean each Business Day. 

 ARTICLE III 
 Eligibility and Participation 
  

	3.1	Eligibility and Participation. An Eligible Employee becomes a Participant upon the earlier to occur of (i) a credit of Company Contributions under Article V or
(ii) receipt of notification of eligibility to participate. 

  

	3.2	Duration. A Participant shall be eligible to defer Compensation and receive allocations of Company Contributions, subject to the terms of the Plan, for as long as such
Participant remains an Eligible Employee. A Participant who is no longer an Eligible Employee but has not Separated from Service may not defer Compensation under the Plan but may otherwise exercise all of the rights of a Participant under the Plan
with respect to his or her Account(s). On and after a Separation from Service, a Participant shall remain a Participant as long as his or her Account Balance is greater than zero and during such time may continue to make allocation elections as
provided in Section 8.4. An individual shall cease being a Participant in the Plan when all benefits under the Plan to which he or she is entitled have been paid. 

  

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 ARTICLE IV 
 Deferrals 
  

	4.1	Deferral Elections, Generally. 

  

	 	(a)	A Participant may elect to defer Compensation by submitting a Compensation Deferral Agreement during the enrollment periods established by the Committee and in the manner specified
by the Committee, but in any event, in accordance with Section 4.2. A Compensation Deferral Agreement that is not timely filed with respect to a service period or component of Compensation shall be considered void and shall have no effect with
respect to such service period or Compensation. The Committee may modify any Compensation Deferral Agreement prior to the date the election becomes irrevocable under the rules of Section 4.2. 

  

	 	(b)	The Participant shall specify on his or her Compensation Deferral Agreement the amount of Deferrals and whether to allocate Deferrals to a Retirement/Termination Account or to a
Specified Date Account. If no designation is made, Deferrals shall be allocated to the Retirement/Termination Account. A Participant may also specify in his or her Compensation Deferral Agreement the Payment Schedule applicable to his or her Plan
Accounts. If the Payment Schedule is not specified in a Compensation Deferral Agreement, the Payment Schedule shall be the Payment Schedule specified in Section 6.2. 

  

	4.2	Timing Requirements for Compensation Deferral Agreements. 

  

	 	(a)	First Year of Eligibility. In the case of the first year in which an Eligible Employee becomes eligible to participate in the Plan, he has up to 30 days following his initial
eligibility to submit a Compensation Deferral Agreement with respect to Compensation to be earned during such year. The Compensation Deferral Agreement described in this paragraph becomes irrevocable upon the end of such 30-day period. The
determination of whether an Eligible Employee may file a Compensation Deferral Agreement under this paragraph shall be determined in accordance with the rules of Code Section 409A, including the provisions of Treas. Reg.
Section 1.409A-2(a)(7). 

 A Compensation Deferral Agreement filed under this paragraph applies to Compensation earned on
and after the date the Compensation Deferral Agreement becomes irrevocable. 
  

	 	(b)	 Prior Year Election. Except as otherwise provided in this Section 4.2, Participants may defer Compensation by filing a Compensation Deferral Agreement
no later 

  

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than December 31 of the year prior to the year in which the Compensation to be deferred is earned. A Compensation Deferral Agreement described in this
paragraph shall become irrevocable with respect to such Compensation as of January 1 of the year in which such Compensation is earned. 

  

	 	(c)	Performance-Based Compensation. Participants may file a Compensation Deferral Agreement with respect to Performance-Based Compensation no later than the date that is six
months before the end of the performance period, provided that: 

  

	 	(i)	the Participant performs services continuously from the later of the beginning of the performance period or the date the criteria are established through the date the Compensation
Deferral Agreement is submitted; and 

  

	 	(ii)	the Compensation is not readily ascertainable as of the date the Compensation Deferral Agreement is filed. 

 A Compensation Deferral Agreement becomes irrevocable with respect to Performance-Based Compensation as of the day immediately following the latest date
for filing such election. Any election to defer Performance-Based Compensation that is made in accordance with this paragraph and that becomes payable as a result of the Participant’s death or disability (as defined in Treas. Reg.
Section 1.409A-1(e)) or upon a Change in Control (as defined in Treas. Reg. Section 1.409A-3(i)(5)) prior to the satisfaction of the performance criteria, will be void. 
  

	 	(d)	Sales Commissions. Sales commissions (as defined in Treas. Reg. Section 1.409A-2(a)(12)(i)) are considered to be earned in the taxable year of the Participant in which
the sale occurs. The Compensation Deferral Agreement must be filed before the last day of the year preceding the year in which the sales commissions are earned and becomes irrevocable after that date. 

  

	 	(e)	Investment Commissions. Investment commissions (as defined in Treas. Reg. Section 1.409A-2(a)(12)(ii)) are considered to be earned in the 12-month period immediately
preceding the date assets are valued for purposes of calculating the commission. Investment Commissions must be deferred under the timing rules set forth in this Section 4.2. 

  

	 	(f)	Fiscal Year Compensation. A Participant may defer Fiscal Year Compensation by filing a Compensation Deferral Agreement prior to the first day of the fiscal year or years in
which such Fiscal Year Compensation is earned. The Compensation Deferral Agreement described in this paragraph becomes irrevocable on the first day of the fiscal year or years to which it applies. 

  

	 	(g)	 Short-Term Deferrals. Compensation that meets the definition of a “short-term deferral” described in Treas. Reg. Section 1.409A-1(b)(4) may be
deferred in 

  

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accordance with the rules of Article VII, applied as if the date the Substantial Risk of Forfeiture lapses is the date payments were originally scheduled to
commence, provided, however, that the provisions of Section 7.3 shall not apply to payments attributable to a Change in Control (as defined in Treas. Reg. Section 1.409A-3(i)(5)). 

  

	 	(h)	Certain Forfeitable Rights. With respect to a legally binding right to a payment in a subsequent year that is subject to a forfeiture condition requiring the
Participant’s continued services for a period of at least twelve months from the date the Participant obtains the legally binding right, an election to defer such Compensation may be made on or before the 30th day after the Participant obtains
the legally binding right to the Compensation, provided that the election is made at least twelve months in advance of the earliest date at which the forfeiture condition could lapse. The Compensation Deferral Agreement described in this paragraph
becomes irrevocable after such 30th day. If the forfeiture condition applicable to the payment lapses before the end of the required service period as a result of the Participant’s death or disability (as defined in Treas. Reg.
Section 1.409A-3(i)(4)) or upon a Change in Control (as defined in Treas. Reg. Section 1.409A-3(i)(5)), the Compensation Deferral Agreement will be void unless it would be considered timely under another rule described in this Section.

  

	 	(i)	Company Awards. Participating Employers may unilaterally provide for deferrals of Company awards prior to the date of such awards. Deferrals of Company awards (such as
sign-on, retention, or severance pay) may be negotiated with a Participant prior to the date the Participant has a legally binding right to such Compensation. 

  

	 	(j)	“Evergreen” Deferral Elections. The Committee, in its discretion, may provide in the Compensation Deferral Agreement that such Compensation Deferral Agreement will
continue in effect for each subsequent year or performance period. Such “evergreen” Compensation Deferral Agreements will become effective with respect to an item of Compensation on the date such election becomes irrevocable under this
Section 4.2. An evergreen Compensation Deferral Agreement may be terminated or modified prospectively with respect to Compensation for which such election remains revocable under this Section 4.2. A Participant whose Compensation Deferral
Agreement is cancelled in accordance with Section 4.6 will be required to file a new Compensation Deferral Agreement under this Article IV in order to recommence Deferrals under the Plan. 

  

	4.3	Allocation of Deferrals. A Compensation Deferral Agreement may allocate Deferrals to one or more Specified Date Accounts and/or to the Retirement/Termination Account. The
Committee may, in its discretion, establish a minimum deferral period for Specified Date Accounts (for example, the third Plan Year following the year Compensation subject to the Compensation Deferral Agreement is earned). 

 

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	4.4	Deductions from Pay. The Committee has the authority to determine the payroll practices under which any component of Compensation subject to a Compensation Deferral Agreement
will be deducted from a Participant’s Compensation. 

  

	4.5	Vesting. Participant Deferrals shall be 100% vested at all times. 

  

	 4.6
	 Cancellation of Deferrals. The Committee may cancel a Participant’s Deferrals (i) for the balance of
the Plan Year in which an Unforeseeable Emergency occurs, (ii) if the Participant receives a hardship distribution under the Employer’s qualified 401(k) plan, through the end of the Plan Year in which the six-month anniversary of the
hardship distribution falls, and (iii) during periods in which the Participant is unable to perform the duties of his or her position or any substantially similar position due to a mental or physical impairment that can be expected to result in
death or last for a continuous period of at least six months, provided cancellation occurs by the later of the end of the taxable year of the Participant or the 15th day of the third month following the date the Participant incurs the disability (as defined in this paragraph (iii)). 

 ARTICLE V 
 Company Contributions 
  

	5.1	Discretionary Company Contributions. The Participating Employer may, from time to time in its sole and absolute discretion, credit Company Contributions to any Participant in
any amount determined by the Participating Employer. Such contributions will be credited to a Participant’s Retirement/Termination Account. 

  

	5.2	Vesting. Company Contributions described in Section 5.1, above, and the Earnings thereon, shall vest in accordance with the vesting schedule(s) established by the
Committee at the time that the Company Contribution is made. All Company Contributions shall become 100% vested upon the occurrence of the earliest of: (i) the death of the Participant while actively employed; (ii) the Disability of the
Participant, (iii) Retirement of the Participant, or (iv) a Change in Control. The Participating Employer may, at any time, in its sole discretion, increase a Participant’s vested interest in a Company Contribution. The portion of a
Participant’s Accounts that remains unvested upon his or her Separation from Service after the application of the terms of this Section 5.2 shall be forfeited. 

 ARTICLE VI 
 Benefits 
  

	6.1	Benefits, Generally. A Participant shall be entitled to the following benefits under the Plan: 

  

	 	(a)	 Retirement Benefit. Upon the Participant’s Separation from Service due to Retirement, he or she shall be entitled to a Retirement Benefit. The
Retirement Benefit shall be equal to the vested portion of the Retirement/Termination 

  

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Account and (i) if the Retirement/Termination Account is payable in a lump sum, the unpaid balances of any Specified Date Accounts, or (ii) if the
Retirement/Termination Account is payable in installments, the vested portion of any Specified Date Accounts with respect to which payments have not yet commenced. The Retirement Benefit shall be based on the value of such Account(s) as of the date
Separation from Service occurs. Payment of the Retirement Benefit will be made or begin the first day of the month following the month in which Separation from Service occurs, provided, however, that with respect to a Participant who is a Specified
Employee as of the date such Participant incurs a Separation from Service, payment will be made or begin on the first day of the seventh month following the month in which such Separation from Service occurs. If the Retirement Benefit is to be paid
in the form of installments, any subsequent installment payments to a Specified Employee will be paid on the anniversary of the date. 

  

	 	(b)	Termination Benefit. Upon the Participant’s Separation from Service for reasons other than death, Disability or Retirement, he or she shall be entitled to a Termination
Benefit. The Termination Benefit shall be equal to the vested portion of the Retirement/Termination Account and (i) if the Retirement/Termination Account is payable in a lump sum, the unpaid balances of any Specified Date Accounts, or
(ii) if the Retirement/Termination Account is payable in installments, the vested portion of any Specified Date Accounts with respect to which payments have not yet commenced. The Termination Benefit shall be based on the value of such
Account(s) as of the date Separation from Service occurs. Payment of the Termination Benefit will be made or begin the first day of the month following the month in which Separation from Service occurs, provided, however, that with respect to a
Participant who is a Specified Employee as of the date such Participant incurs a Separation from Service, payment will be made or begin on the first day of the seventh month following the month in which such Separation from Service occurs. If the
Termination Benefit is to be paid in the form of installments, any subsequent installment payments to a Specified Employee will be paid on the anniversary of the date. 

  

	 	(c)	Specified Date Benefit. If the Participant has established one or more Specified Date Accounts, he or she shall be entitled to a Specified Date Benefit with respect to each
such Specified Date Account. The Specified Date Benefit shall be equal to the vested portion of the Specified Date Account, based on the value of that Account as of the end of the month designated by the Participant at the time the Account was
established. Payment of the Specified Date Benefit will be made or begin the first day of the month following the designated month. 

  

	 	(d)	 Disability Benefit. Upon a determination by the Committee that a Participant is Disabled, he or she shall be entitled to a Disability Benefit. The Disability
Benefit shall be equal to the vested portion of the Retirement/Termination Account and (i) if the Retirement/Termination Account is payable in a lump sum, the unpaid balances of any Specified Date Accounts, or (ii) if the
Retirement/Termination 

  

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Account is payable in installments, the vested portion of any Specified Date Accounts with respect to which payments have not yet commenced. The Disability
Benefit shall be based on the value of the Accounts as of the last day of the month in which Disability occurs and will be paid the first day of the following month. 

  

	 	(e)	Death Benefit. In the event of the Participant’s death, his or her designated Beneficiary(ies) shall be entitled to a Death Benefit. The Death Benefit shall be equal to
the vested portion of the Retirement/Termination Account and (i) if the Retirement/Termination Account is payable in a lump sum, the unpaid balances of any Specified Date Accounts, or (ii) if the Retirement/Termination Account is payable
in installments, the vested portion of any Specified Date Accounts with respect to which payments have not yet commenced. The Death Benefit shall be based on the value of the Accounts as of the end of the month in which death occurred, with payment
made in the first day of the following month. 

  

	 	(f)	Unforeseeable Emergency Payments. A Participant who experiences an Unforeseeable Emergency may submit a written request to the Committee to receive payment of all or any
portion of his or her vested Accounts. Whether a Participant or Beneficiary is faced with an Unforeseeable Emergency permitting an emergency payment shall be determined by the Committee based on the relevant facts and circumstances of each case,
but, in any case, a distribution on account of Unforeseeable Emergency may not be made to the extent that such emergency is or may be reimbursed through insurance or otherwise, by liquidation of the Participant’s assets, to the extent the
liquidation of such assets would not cause severe financial hardship, or by cessation of Deferrals under this Plan. If an emergency payment is approved by the Committee, the amount of the payment shall not exceed the amount reasonably necessary to
satisfy the need, taking into account the additional compensation that is available to the Participant as the result of cancellation of deferrals to the Plan, including amounts necessary to pay any taxes or penalties that the Participant reasonably
anticipates will result from the payment. The amount of the emergency payment shall be subtracted first from the vested portion of the Participant’s Retirement/Termination Account until depleted and then from the vested Specified Date Accounts,
beginning with the Specified Date Account with the latest payment commencement date. Emergency payments shall be paid in a single lump sum within the 90-day period following the date the payment is approved by the Committee.

  

	6.2	Form of Payment. 

  

	 	(a)	 Retirement Benefit. A Participant who is entitled to receive a Retirement Benefit shall receive payment of such benefit in a single lump sum, unless the
Participant elects on his or her initial Compensation Deferral Agreement to have such benefit paid in one of the following alternative forms of payment (i) substantially equal annual installments over a period of two to ten years, as elected by
the Participant; or (ii) a lump sum payment of a percentage of the balance in the 

  

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Retirement/Termination Account, with the balance paid in substantially equal annual installments over a period of two to ten years, as elected by the
Participant. 

  

	 	(b)	Termination Benefit. A Participant who is entitled to receive a Termination Benefit shall receive payment of such benefit in a single lump sum. 

  

	 	(c)	Specified Date Benefit. The Specified Date Benefit shall be paid in a single lump sum, unless the Participant elects on the Compensation Deferral Agreement with which the
account was established to have the Specified Date Account paid in substantially equal annual installments over a period of two to five years, as elected by the Participant. 

 Notwithstanding any election of a form of payment by the Participant, upon a Separation from Service, death or Disability, the unpaid balance of a
Specified Date Account with respect to which payments have not commenced shall be paid in accordance with the form of payment applicable to the Retirement, Termination, Change in Control, Disability or Death Benefit, as applicable. If such benefit
is payable in a single lump sum, the unpaid balance of all Specified Date Accounts (including those in pay status) will be paid in a lump sum. 
  

	 	(d)	Disability Benefit. A Participant who is entitled to receive a Disability Benefit shall receive payment of such benefit in a single lump sum unless the Participant elects on
his or her initial Compensation Deferral Agreement to have such benefit paid in substantially equal annual installments over a period of two to ten years, as elected by the Participant. 

  

	 	(e)	Death Benefit. A designated Beneficiary who is entitled to receive a Death Benefit shall receive payment of such benefit in a single lump sum unless the Participant elects on
his or her initial Compensation Deferral Agreement to have such benefit paid in substantially equal annual installments over a period of two to ten years, as elected by the Participant. 

  

	 	(f)	Change in Control. A Participant will receive his or her Retirement or Termination Benefit in a single lump sum payment equal to the unpaid balance of all of his or her
Accounts if Separation from Service occurs within 24 months following a Change in Control. 

  

	 	(g)	Small Account Balances. Notwithstanding any Participant election or other provisions of the Plan, a Participant’s Accounts will be paid in a single lump sum if, upon the
commencement of his or her Retirement, Termination, Death or Disability Benefit, the combined value of his or her Accounts is not greater than $50,000. 

  

	 	(h)	 Rules Applicable to Installment Payments. If a Payment Schedule specifies installment payments, annual payments will be made beginning as of the payment

  

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commencement date for such installments and shall continue on each anniversary thereof until the number of installment payments specified in the Payment
Schedule has been paid. The amount of each installment payment shall be determined by dividing (a) by (b), where (a) equals the Account Balance as of the Valuation Date and (b) equals the remaining number of installment payments.

 For purposes of Article VII, installment payments will be treated as a single form of payment. If a lump sum equal to
less than 100% of the Retirement/Termination Account is paid, the payment commencement date for the installment form of payment will be the first anniversary of the payment of the lump sum. 
  

	6.3	Acceleration of or Delay in Payments. The Committee, in its sole and absolute discretion, may elect to accelerate the time or form of payment of a benefit owed to the
Participant hereunder, provided such acceleration is permitted under Treas. Reg. Section 1.409A-3(j)(4). The Committee may also, in its sole and absolute discretion, delay the time for payment of a benefit owed to the Participant hereunder, to
the extent permitted under Treas. Reg. Section 1.409A-2(b)(7). If the Plan receives a domestic relations order (within the meaning of Code Section 414(p)(1)(B)) directing that all or a portion of a Participant’s Accounts be paid to an
“alternate payee,” any amounts to be paid to the alternate payee(s) shall be paid in a single lump sum. 

 ARTICLE
VII 
 Modifications to Payment Schedules 
  

	7.1	Participant’s Right to Modify. A Participant may modify any or all of the alternative Payment Schedules with respect to an Account, consistent with the permissible
Payment Schedules available under the Plan, provided such modification complies with the requirements of this Article VII. 

  

	7.2	Time of Election. The date on which a modification election is submitted to the Committee must be at least twelve months prior to the date on which payment is scheduled to
commence under the Payment Schedule in effect prior to the modification. A modification to the Retirement Benefit Payment Schedule may be made any time after the Participant attains age 50. 

  

	7.3	Date of Payment under Modified Payment Schedule. Except with respect to modifications that relate to the payment of a Death Benefit or a Disability Benefit, the date payments
are to commence under the modified Payment Schedule must be no earlier than five years after the date payment would have commenced under the original Payment Schedule. Under no circumstances may a modification election result in an acceleration of
payments in violation of Code Section 409A. 

  

	7.4	Effective Date. A modification election submitted in accordance with this Article VII is irrevocable upon receipt by the Committee and becomes effective 12 months after such
date. 

  

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	7.5	Effect on Accounts. An election to modify a Payment Schedule is specific to the Account or payment event to which it applies, and shall not be construed to affect the Payment
Schedules of any other Accounts. 

  

	7.6	Modifications to Grandfathered Accounts. Notwithstanding the preceding provisions of this Article VII, a Participant may modify the time or form of payment applicable to a
Grandfathered Account at any time, provided the modification is submitted in writing at least 13 months in advance of the date the Grandfathered Account is scheduled to be paid. 

 ARTICLE VIII 
 Valuation of Account Balances;
Investments 
  

	8.1	Valuation. Deferrals shall be credited to appropriate Accounts on the date such Compensation would have been paid to the Participant absent the Compensation Deferral
Agreement. Company Contributions shall be credited to the Retirement/Termination Account at the times determined by the Committee. Valuation of Accounts shall be performed under procedures approved by the Committee. 

  

	8.2	Earnings Credit. Each Account will be credited with Earnings on each Business Day, based upon the Participant’s investment allocation among a menu of investment options
selected in advance by the Committee, in accordance with the provisions of this Article VIII (“investment allocation”). 

  

	8.3	Investment Options. Investment options will be determined by the Committee. The Committee, in its sole discretion, shall be permitted to add or remove investment options from
the Plan menu from time to time, provided that any such additions or removals of investment options shall not be effective with respect to any period prior to the effective date of such change. 

  

	8.4	Investment Allocations. A Participant’s investment allocation constitutes a deemed, not actual, investment among the investment options comprising the investment menu.
At no time shall a Participant have any real or beneficial ownership in any investment option included in the investment menu, nor shall the Participating Employer or any trustee acting on its behalf have any obligation to purchase actual securities
as a result of a Participant’s investment allocation. A Participant’s investment allocation shall be used solely for purposes of adjusting the value of a Participant’s Account Balances. 

 A Participant shall specify an investment allocation for each of his Accounts in accordance with procedures established by the Committee. Allocation among
the investment options must be designated in increments of 1%. The Participant’s investment allocation will become effective on the same Business Day or, in the case of investment allocations received after a time specified by the Committee,
the next Business Day. 
  

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 A Participant may change an investment allocation on any Business Day, both with respect to future
credits to the Plan and with respect to existing Account Balances, in accordance with procedures adopted by the Committee. Changes shall become effective on the same Business Day or, in the case of investment allocations received after a time
specified by the Committee, the next Business Day, and shall be applied prospectively. 
  

	8.5	Unallocated Deferrals and Accounts. If the Participant fails to make an investment allocation with respect to an Account, such Account shall be invested in an investment
option, the primary objective of which is the preservation of capital, as determined by the Committee. 

 ARTICLE IX 

 Administration 
  

	9.1	Plan Administration. This Plan shall be administered by the Committee which shall have discretionary authority to make, amend, interpret and enforce all appropriate rules and
regulations for the administration of this Plan and to utilize its discretion to decide or resolve any and all questions, including but not limited to eligibility for benefits and interpretations of this Plan and its terms, as may arise in
connection with the Plan. Claims for benefits shall be filed with the Committee and resolved in accordance with the claims procedures in Article XII. 

  

	9.2	Administration Upon Change in Control. Upon a Change in Control, the Committee, as constituted immediately prior to such Change in Control, shall continue to act as the
Committee. The individual who was the Chief Executive Officer of the Company (or if such person is unable or unwilling to act, the next highest ranking officer) prior to the Change in Control shall have the authority (but shall not be obligated) to
appoint an independent third party to act as the Committee. 

 Upon such Change in Control, the Company may not remove the
Committee, unless 2/3rds of the members of the Board of Directors of the Company and a majority of Participants and Beneficiaries with Account Balances consent to the removal and replacement Committee. Notwithstanding the foregoing, neither the
Committee nor the officer described above shall have authority to direct investment of trust assets under any rabbi trust described in Section 11.2. 
 The Participating Employer shall, with respect to the Committee identified under this Section, (i) pay all reasonable expenses and fees of the Committee, (ii) indemnify the Committee (including individuals
serving as Committee) against any costs, expenses and liabilities including, without limitation, attorneys’ fees and expenses arising in connection with the performance of the Committee hereunder, except with respect to matters resulting from
the Committee’s gross negligence or willful misconduct and (iii) supply full and timely information to the Committee on all matters related to the Plan, any rabbi trust, Participants, Beneficiaries and Accounts as the Committee may
reasonably require. 
  

	9.3	 Withholding. The Participating Employer shall have the right to withhold from any payment due under the Plan (or with respect to any amounts credited to the
Plan) any 

  

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taxes required by law to be withheld in respect of such payment (or credit). Withholdings with respect to amounts credited to the Plan shall be deducted from
Compensation that has not been deferred to the Plan. 

  

	9.4	Indemnification. The Participating Employers shall indemnify and hold harmless each employee, officer, director, agent or organization, to whom or to which are delegated
duties, responsibilities, and authority under the Plan or otherwise with respect to administration of the Plan, including, without limitation, the Committee and its agents, against all claims, liabilities, fines and penalties, and all expenses
reasonably incurred by or imposed upon him or it (including but not limited to reasonable attorney fees) which arise as a result of his or its actions or failure to act in connection with the operation and administration of the Plan to the extent
lawfully allowable and to the extent that such claim, liability, fine, penalty, or expense is not paid for by liability insurance purchased or paid for by the Participating Employer. Notwithstanding the foregoing, the Participating Employer shall
not indemnify any person or organization if his or its actions or failure to act are due to gross negligence or willful misconduct or for any such amount incurred through any settlement or compromise of any action unless the Participating Employer
consents in writing to such settlement or compromise. 

  

	9.5	Delegation of Authority. In the administration of this Plan, the Committee may, from time to time, employ agents and delegate to them such administrative duties as it sees
fit, and may from time to time consult with legal counsel who shall be legal counsel to the Company. 

  

	9.6	Binding Decisions or Actions. The decision or action of the Committee in respect of any question arising out of or in connection with the administration, interpretation and
application of the Plan and the rules and regulations thereunder shall be final and conclusive and binding upon all persons having any interest in the Plan. 

 ARTICLE X 
 Amendment and Termination 
  

	10.1	Amendment and Termination. The Company may at any time and from time to time amend the Plan or may terminate the Plan as provided in this Article X. Each Participating
Employer may also terminate its participation in the Plan. 

  

	10.2	 Amendments. The Company, by action taken by its Board of Directors, may amend the Plan at any time and for any reason, provided that any such amendment shall
not reduce the vested Account Balances of any Participant accrued as of the date of any such amendment or restatement (as if the Participant had incurred a voluntary Separation from Service on such date) or reduce any rights of a Participant under
the Plan or other Plan features with respect to Deferrals made prior to the date of any such amendment or restatement without the consent of the Participant. The Board of Directors of the Company may delegate to the Committee the authority to amend
the Plan without the consent of the Board of Directors for the purpose of (i) conforming the Plan to the requirements of law, (ii) facilitating the administration of the Plan, (iii) clarifying 

  

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provisions based on the Committee’s interpretation of the document and (iv) making such other amendments as the Board of Directors may authorize.

  

	10.3	Termination. The Company, by action taken by its Board of Directors, may terminate the Plan and pay Participants and Beneficiaries their Account Balances in a single lump sum
at any time, to the extent and in accordance with Treas. Reg. Section 1.409A-3(j)(4)(ix). If a Participating Employer terminates its participation in the Plan, the benefits of affected Employees shall be paid at the time provided in Article VI.

  

	10.4	Accounts Taxable Under Code Section 409A. The Plan is intended to constitute a plan of deferred compensation that meets the requirements for deferral of income taxation
under Code Section 409A. The Committee, pursuant to its authority to interpret the Plan, may sever from the Plan or any Compensation Deferral Agreement any provision or exercise of a right that otherwise would result in a violation of Code
Section 409A. 

 ARTICLE XI 
 Informal Funding 
  

	11.1	General Assets. Obligations established under the terms of the Plan may be satisfied from the general funds of the Participating Employers, or a trust described in this
Article XI. No Participant, spouse or Beneficiary shall have any right, title or interest whatever in assets of the Participating Employers. Nothing contained in this Plan, and no action taken pursuant to its provisions, shall create or be construed
to create a trust of any kind, or a fiduciary relationship, between the Participating Employers and any Employee, spouse, or Beneficiary. To the extent that any person acquires a right to receive payments hereunder, such rights are no greater than
the right of an unsecured general creditor of the Participating Employer. 

  

	11.2	Rabbi Trust. A Participating Employer may, in its sole discretion, establish a grantor trust, commonly known as a rabbi trust, as a vehicle for accumulating assets to pay
benefits under the Plan. Payments under the Plan may be paid from the general assets of the Participating Employer or from the assets of any such rabbi trust. Payment from any such source shall reduce the obligation owed to the Participant or
Beneficiary under the Plan. 

 ARTICLE XII 
 Claims 
  

	12.1	Filing a Claim. Any controversy or claim arising out of or relating to the Plan shall be filed in writing with the Committee which shall make all determinations concerning
such claim. Any claim filed with the Committee and any decision by the Committee denying such claim shall be in writing and shall be delivered to the Participant or Beneficiary filing the claim (the “Claimant”). 

 

	 	(a)	 In General. Notice of a denial of benefits (other than Disability benefits) will be provided within ninety (90) days of the Committee’s receipt of
the Claimant’s claim for benefits. If the Committee determines that it needs additional time to 

  

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review the claim, the Committee will provide the Claimant with a notice of the extension before the end of the initial ninety (90) day period. The
extension will not be more than ninety (90) days from the end of the initial ninety (90) day period and the notice of extension will explain the special circumstances that require the extension and the date by which the Committee expects
to make a decision. 

  

	 	(b)	Disability Benefits. Notice of denial of Disability benefits will be provided within forty-five (45) days of the Committee’s receipt of the Claimant’s claim
for Disability benefits. If the Committee determines that it needs additional time to review the Disability claim, the Committee will provide the Claimant with a notice of the extension before the end of the initial forty-five (45) day period.
If the Committee determines that a decision cannot be made within the first extension period due to matters beyond the control of the Committee, the time period for making a determination may be further extended for an additional thirty
(30) days. If such an additional extension is necessary, the Committee shall notify the Claimant prior to the expiration of the initial thirty (30) day extension. Any notice of extension shall indicate the circumstances necessitating the
extension of time, the date by which the Committee expects to furnish a notice of decision, the specific standards on which such entitlement to a benefit is based, the unresolved issues that prevent a decision on the claim and any additional
information needed to resolve those issues. A Claimant will be provided a minimum of forty-five (45) days to submit any necessary additional information to the Committee. In the event that a thirty (30) day extension is necessary due to a
Claimant’s failure to submit information necessary to decide a claim, the period for furnishing a notice of decision shall be tolled from the date on which the notice of the extension is sent to the Claimant until the earlier of the date the
Claimant responds to the request for additional information or the response deadline. 

  

	 	(c)	Contents of Notice. If a claim for benefits is completely or partially denied, notice of such denial shall be in writing and shall set forth the reasons for denial in plain
language. The notice shall (i) cite the pertinent provisions of the Plan document and (ii) explain, where appropriate, how the Claimant can perfect the claim, including a description of any additional material or information necessary to
complete the claim and why such material or information is necessary. The claim denial also shall include an explanation of the claims review procedures and the time limits applicable to such procedures, including a statement of the Claimant’s
right to bring a civil action under Section 502(a) of ERISA following an adverse decision on review. In the case of a complete or partial denial of a Disability benefit claim, the notice shall provide a statement that the Committee will provide
to the Claimant, upon request and free of charge, a copy of any internal rule, guideline, protocol, or other similar criterion that was relied upon in making the decision. 

  

	12.2	 Appeal of Denied Claims. A Claimant whose claim has been completely or partially denied shall be entitled to appeal the claim denial by filing a written
appeal with a 

  

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committee designated to hear such appeals (the “Appeals Committee”). A Claimant who timely requests a review of the denied claim (or his or her
authorized representative) may review, upon request and free of charge, copies of all documents, records and other information relevant to the denial and may submit written comments, documents, records and other information relevant to the claim to
the Appeals Committee. All written comments, documents, records, and other information shall be considered “relevant” if the information (i) was relied upon in making a benefits determination, (ii) was submitted, considered or
generated in the course of making a benefits decision regardless of whether it was relied upon to make the decision, or (iii) demonstrates compliance with administrative processes and safeguards established for making benefit decisions. The
Appeals Committee may, in its sole discretion and if it deems appropriate or necessary, decide to hold a hearing with respect to the claim appeal. 

  

	 	(a)	In General. Appeal of a denied benefits claim (other than a Disability benefits claim) must be filed in writing with the Appeals Committee no later than sixty (60) days
after receipt of the written notification of such claim denial. The Appeals Committee shall make its decision regarding the merits of the denied claim within sixty (60) days following receipt of the appeal (or within one hundred and twenty
(120) days after such receipt, in a case where there are special circumstances requiring extension of time for reviewing the appealed claim). If an extension of time for reviewing the appeal is required because of special circumstances, written
notice of the extension shall be furnished to the Claimant prior to the commencement of the extension. The notice will indicate the special circumstances requiring the extension of time and the date by which the Appeals Committee expects to render
the determination on review. The review will take into account comments, documents, records and other information submitted by the Claimant relating to the claim without regard to whether such information was submitted or considered in the initial
benefit determination. 

  

	 	(b)	 Disability Benefits. Appeal of a denied Disability benefits claim must be filed in writing with the Appeals Committee no later than one hundred eighty
(180) days after receipt of the written notification of such claim denial. The review shall be conducted by the Appeals Committee (exclusive of the person who made the initial adverse decision or such person’s subordinate). In reviewing
the appeal, the Appeals Committee shall (i) not afford deference to the initial denial of the claim, (ii) consult a medical professional who has appropriate training and experience in the field of medicine relating to the Claimant’s
disability and who was neither consulted as part of the initial denial nor is the subordinate of such individual and (iii) identify the medical or vocational experts whose advice was obtained with respect to the initial benefit denial, without
regard to whether the advice was relied upon in making the decision. The Appeals Committee shall make its decision regarding the merits of the denied claim within forty-five (45) days following receipt of the appeal (or within ninety
(90) days after such receipt, in a case where there are special circumstances requiring extension of time for reviewing the appealed claim). If an extension of time for reviewing the appeal is required because of special circumstances, written
notice of the extension shall be 

  

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furnished to the Claimant prior to the commencement of the extension. The notice will indicate the special circumstances requiring the extension of time and
the date by which the Appeals Committee expects to render the determination on review. Following its review of any additional information submitted by the Claimant, the Appeals Committee shall render a decision on its review of the denied claim.

  

	 	(c)	Contents of Notice. If a benefits claim is completely or partially denied on review, notice of such denial shall be in writing and shall set forth the reasons for denial in
plain language. 

 The decision on review shall set forth (i) the specific reason or reasons for the denial,
(ii) specific references to the pertinent Plan provisions on which the denial is based, (iii) a statement that the Claimant is entitled to receive, upon request and free of charge, reasonable access to and copies of all documents, records,
or other information relevant (as defined above) to the Claimant’s claim, and (iv) a statement describing any voluntary appeal procedures offered by the plan and a statement of the Claimant’s right to bring an action under
Section 502(a) of ERISA. 
  

	 	(d)	For the denial of a Disability benefit, the notice will also include a statement that the Appeals Committee will provide, upon request and free of charge, (i) any internal
rule, guideline, protocol or other similar criterion relied upon in making the decision, (ii) any medical opinion relied upon to make the decision and (iii) the required statement under Section 2560.503-1(j)(5)(iii) of the Department
of Labor regulations. 

  

	12.3	Claims Appeals Upon Change in Control. Upon a Change in Control, the Appeals Committee, as constituted immediately prior to such Change in Control, shall continue to act as
the Appeals Committee. Upon such Change in Control, the Company may not remove any member of the Appeals Committee, but may replace resigning members if 2/3rds of the members of the Board of Directors of the Company and a majority of Participants
and Beneficiaries with Account Balances consent to the replacement. 

 The Appeals Committee shall have the exclusive authority
at the appeals stage to interpret the terms of the Plan and resolve appeals under the Claims Procedure. 
 Each Participating Employer shall,
with respect to the Committee identified under this Section, (i) pay its proportionate share of all reasonable expenses and fees of the Appeals Committee, (ii) indemnify the Appeals Committee (including individual committee members)
against any costs, expenses and liabilities including, without limitation, attorneys’ fees and expenses arising in connection with the performance of the Appeals Committee hereunder, except with respect to matters resulting from the Appeals
Committee’s gross negligence or willful misconduct and (iii) supply full and timely information to the Appeals Committee on all matters related to the Plan, any rabbi trust, Participants, Beneficiaries and Accounts as the Appeals Committee
may reasonably require. 
  

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	12.4	Legal Action. A Claimant may not bring any legal action, including commencement of any arbitration, relating to a claim for benefits under the Plan unless and until the
Claimant has followed the claims procedures under the Plan and exhausted his or her administrative remedies under such claims procedures. 

 If a Participant or Beneficiary prevails in a legal proceeding brought under the Plan to enforce the rights of such Participant or any other similarly situated Participant or Beneficiary, in whole or in part, the
Participating Employer shall reimburse such Participant or Beneficiary for all legal costs, expenses, attorneys’ fees and such other liabilities incurred as a result of such proceedings. If the legal proceeding is brought in connection with a
Change in Control, or a “change in control” as defined in a rabbi trust described in Section 11.2, the Participant or Beneficiary may file a claim directly with the trustee for reimbursement of such costs, expenses and fees. For
purposes of the preceding sentence, the amount of the claim shall be treated as if it were an addition to the Participant’s or Beneficiary’s Account Balance. 
  

	12.5	Discretion of Appeals Committee. All interpretations, determinations and decisions of the Appeals Committee with respect to any claim shall be made in its sole discretion,
and shall be final and conclusive. 

  

	12.6	Arbitration. 

  

	 	(a)	Prior to Change in Control. If, prior to a Change in Control, any claim or controversy between a Participating Employer and a Participant or Beneficiary is not resolved
through the claims procedure set forth in Article XII, such claim shall be submitted to and resolved exclusively by expedited binding arbitration by a single arbitrator. Arbitration shall be conducted in accordance with the following procedures:

 The complaining party shall promptly send written notice to the other party identifying the matter in dispute and the
proposed remedy. Following the giving of such notice, the parties shall meet and attempt in good faith to resolve the matter. In the event the parties are unable to resolve the matter within twenty one (21) days, the parties shall meet and
attempt in good faith to select a single arbitrator acceptable to both parties. If a single arbitrator is not selected by mutual consent within ten (10) Business Days following the giving of the written notice of dispute, an arbitrator shall be
selected from a list of nine persons each of whom shall be an attorney who is either engaged in the active practice of law or recognized arbitrator and who, in either event, is experienced in serving as an arbitrator in disputes between employers
and employees, which list shall be provided by the main office of either JAMS, the American Arbitration Association (“AAA”) or the Federal Mediation and Conciliation Service. If, within three Business Days of the parties’ receipt of
such list, the parties are 

  

 Page 24 of 30 

 Barclays Bank PLC Senior Management Deferred Compensation Plan 
  

 
unable to agree on an arbitrator from the list, then the parties shall each strike names alternatively from the list, with the first to strike being
determined by the flip of a coin. After each party has had four strikes, the remaining name on the list shall be the arbitrator. If such person is unable to serve for any reason, the parties shall repeat this process until an arbitrator is selected.

 Unless the parties agree otherwise, within sixty (60) days of the selection of the arbitrator, a hearing shall be conducted before
such arbitrator at a time and a place agreed upon by the parties. In the event the parties are unable to agree upon the time or place of the arbitration, the time and place shall be designated by the arbitrator after consultation with the parties.
Within thirty (30) days of the conclusion of the arbitration hearing, the arbitrator shall issue an award, accompanied by a written decision explaining the basis for the arbitrator’s award. 
 In any arbitration hereunder, the Participating Employer shall pay all administrative fees of the arbitration and all fees of the arbitrator, except that
the Participant or Beneficiary may, if he/she/it wishes, pay up to one-half of those amounts. Each party shall pay its own attorneys’ fees, costs, and expenses, unless the arbitrator orders otherwise. The prevailing party in such arbitration,
as determined by the arbitrator, and in any enforcement or other court proceedings, shall be entitled, to the extent permitted by law, to reimbursement from the other party for all of the prevailing party’s costs (including but not limited to
the arbitrator’s compensation), expenses, and attorneys’ fees. The arbitrator shall have no authority to add to or to modify this Plan, shall apply all applicable law, and shall have no lesser and no greater remedial authority than would a
court of law resolving the same claim or controversy. The arbitrator shall have no authority to add to or to modify this Plan, shall apply all applicable law, and shall have no lesser and no greater remedial authority than would a court of law
resolving the same claim or controversy. The arbitrator shall, upon an appropriate motion, dismiss any claim without an evidentiary hearing if the party bringing the motion establishes that it would be entitled to summary judgment if the matter had
been pursued in court litigation. 
 The parties shall be entitled to discovery as follows: Each party may take no more than three
depositions. The Participating Employer may depose the Participant or Beneficiary plus two other witnesses, and the Participant or Beneficiary may depose the Participating Employer, pursuant to Rule 30(b)(6) of the Federal Rules of Civil Procedure,
plus two other witnesses. Each party may make such reasonable document discovery requests as are allowed in the discretion of the arbitrator. 
 The decision of the arbitrator shall be final, binding, and non-appealable, and may be enforced as a final judgment in any court of competent jurisdiction. 
 This arbitration provision of the Plan shall extend to claims against any parent, subsidiary, or affiliate of each party, and, when acting within such capacity, any 

  

 Page 25 of 30 

 Barclays Bank PLC Senior Management Deferred Compensation Plan 
  

 
officer, director, shareholder, Participant, Beneficiary, or agent of any party, or of any of the above, and shall apply as well to claims arising out of
state and federal statutes and local ordinances as well as to claims arising under the common law or under this Plan. 
 Notwithstanding the
foregoing, and unless otherwise agreed between the parties, either party may apply to a court for provisional relief, including a temporary restraining order or preliminary injunction, on the ground that the arbitration award to which the applicant
may be entitled may be rendered ineffectual without provisional relief. 
 Any arbitration hereunder shall be conducted in accordance with the
Federal Arbitration Act: provided, however, that, in the event of any inconsistency between the rules and procedures of the Act and the terms of this Plan, the terms of this Plan shall prevail. 
 If any of the provisions of this Section 12.6(a) are determined to be unlawful or otherwise unenforceable, in the whole part, such determination
shall not affect the validity of the remainder of this section and this section shall be reformed to the extent necessary to carry out its provisions to the greatest extent possible and to insure that the resolution of all conflicts between the
parties, including those arising out of statutory claims, shall be resolved by neutral, binding arbitration. If a court should find that the provisions of this Section 12.6(a) are not absolutely binding, then the parties intend any arbitration
decision and award to be fully admissible in evidence in any subsequent action, given great weight by any finder of fact and treated as determinative to the maximum extent permitted by law. 
 The parties do not agree to arbitrate any putative class action or any other representative action. The parties agree to arbitrate only the claims(s) of a
single Participant or Beneficiary. 
  

	 	(b)	Upon Change in Control. If, upon the occurrence of a Change in Control, any dispute, controversy or claim arises between a Participant or Beneficiary and the Participating
Employer out of or relating to or concerning the provisions of the Plan, such dispute, controversy or claim shall be finally settled by a court of competent jurisdiction which, notwithstanding any other provision of the Plan, shall apply a de novo
standard of review to any determination made by the Company or its Board of Directors, a Participating Employer, the Committee, or the Appeals Committee. 

  

 Page 26 of 30 

 Barclays Bank PLC Senior Management Deferred Compensation Plan 
  

 ARTICLE XIII 
 General Provisions 
  

	13.1	Anti-assignment Rule. No interest of any Participant, spouse or Beneficiary under this Plan and no benefit payable hereunder shall be assigned as security for a loan, and any
such purported assignment shall be null, void and of no effect, nor shall any such interest or any such benefit be subject in any manner, either voluntarily or involuntarily, to anticipation, sale, transfer, assignment or encumbrance by or through
any Participant, spouse or Beneficiary. Notwithstanding anything to the contrary herein, however, the Committee has the discretion to make payments to an alternate payee in accordance with the terms of a domestic relations order (as defined in Code
Section 414(p)(1)(B)). 

  

	13.2	No Legal or Equitable Rights or Interest. No Participant or other person shall have any legal or equitable rights or interest in this Plan that are not expressly granted in
this Plan. Participation in this Plan does not give any person any right to be retained in the service of the Participating Employer. The right and power of a Participating Employer to dismiss or discharge an Employee is expressly reserved. The
Participating Employers make no representations or warranties as to the tax consequences to a Participant or a Participant’s beneficiaries resulting from a deferral of income pursuant to the Plan. 

  

	13.3	No Employment Contract. Nothing contained herein shall be construed to constitute a contract of employment between an Employee and a Participating Employer.

  

	13.4	Notice. Any notice or filing required or permitted to be delivered to the Committee under this Plan shall be delivered in writing, in person, or through such electronic means
as is established by the Committee. Notice shall be deemed given as of the date of delivery or, if delivery is made by mail, as of the date shown on the postmark on the receipt for registration or certification. Written transmission shall be sent by
certified mail to: 

 BARCLAYS BANK PLC 
 ATTN: DIRECTOR OF HUMAN RESOURCES 
 200 PARK AVENUE 
 3RD FLOOR 
 NEW YORK, NY 10166 

 Any notice or filing required or permitted to be given to a Participant under this Plan shall be sufficient if in writing or
hand-delivered, or sent by mail to the last known address of the Participant. 
  

	13.5	Headings. The headings of Sections are included solely for convenience of reference, and if there is any conflict between such headings and the text of this Plan, the text
shall control. 

  

	13.6	Invalid or Unenforceable Provisions. If any provision of this Plan shall be held invalid or unenforceable, such invalidity or unenforceability shall not affect any other
provisions hereof and the Committee may elect in its sole discretion to construe such invalid or unenforceable provisions in a manner that conforms to applicable law or as if such provisions, to the extent invalid or unenforceable, had not been
included. 

  

 Page 27 of 30 

 Barclays Bank PLC Senior Management Deferred Compensation Plan 
  

	13.7	Lost Participants or Beneficiaries. Any Participant or Beneficiary who is entitled to a benefit from the Plan has the duty to keep the Committee advised of his or her current
mailing address. If benefit payments are returned to the Plan or are not presented for payment after a reasonable amount of time, the Committee shall presume that the payee is missing. The Committee, after making such efforts as in its discretion it
deems reasonable and appropriate to locate the payee, shall stop payment on any uncashed checks and may discontinue making future payments until contact with the payee is restored. 

  

	13.8	Facility of Payment to a Minor. If a distribution is to be made to a minor, or to a person who is otherwise incompetent, then the Committee may, in its discretion, make such
distribution (i) to the legal guardian, or if none, to a parent of a minor payee with whom the payee maintains his or her residence, or (ii) to the conservator or committee or, if none, to the person having custody of an incompetent payee.
Any such distribution shall fully discharge the Committee, the Company, and the Plan from further liability on account thereof. 

  

	13.9	Governing Law. To the extent not preempted by ERISA, the laws of the State of New York shall govern the construction and administration of the Plan. 

IN WITNESS WHEREOF, the undersigned executed this Plan as of the 18 day of February, 2007, to be effective as of the Effective Date. 
  

					
	BARCLAYS BANK PLC	 	
			
	By:	 	John Roberts	 	(Print Name)
	Its:	 	Chairman of the Compensation Committee	 	(Title)
	/s/ John Roberts	 	(Signature)

  

 Page 28 of 30China Public Security Technology, Inc.: Exhibit 10.1 - Prepared by TNT
Filings Inc.

  

Exhibit 10.1

Share Purchase and Increase Capital Agreement

Shenzhen iASPEC Software Engineering Co., Ltd.

Wuhan Wuda Venture Capital Co., Ltd.

Song Ai Hong

and

Wuhan Wuda Geoinformatics Co., Ltd.

	 	

AGREEMENT

relating to

the sale and purchase of  

the issued share capital of  

Wuhan Wuda Geoinformatics Company Limited  

and an increase in capital for

 Wuhan Wuda Geoinformatics Company Limited  

	 

Share Purchase and Increase Capital Agreement

CONTENTS 

	1.	DEFINITIONS AND INTERPRETATION	3
	 	 	 
	2.	SALE AND PURCHASE OF TARGETED A SHARESND
    CONSIDERATION	4
	 	 	 
	3.	SUCCESSION OF RIGHTS AND OBLIGATIONS	5
	 	 	 
	4.	INCREASE CAPITAL	5
	 	 	 
	5.	REPRESENTATIONS AND WARRANTIES BY THE
    PURCHASER	6
	 	 	 
	6.	REPRESENTATIONS AND WARRANTIES BY VENDOR A	7
	 	 	 
	7.	REPRESENTATIONS AND WARRANTIES BY VENDOR B	7
	 	 	 
	8.	REPRESENTATIONS AND WARRANTIES BY THE COMPANY	8
	 	 	 
	9.	COMPLETION OF THE TARGETED A SHARESND
    INCREASE CAPITAL	9
	 	 	 
	10.	CONFIDENTIALITY	10
	 	 	 
	11.	FORCE MAJEURE	10
	 	 	 
	12.	COST	11
	 	 	 
	13.	LIABILITIES FOR BREACH	11
	 	 	 
	14.	GOVERNING LAW AND DISPUTE RESOLUTION	11
	 	 	 
	15.	NOTICES	12
	 	 	 
	16.	MISCELLANEOUS	13
	 	 	 

1

Share Purchase and Increase Capital Agreement

 
THIS AGREEMENT is made and entered into by the following parties on January 18, 2008,

 (1)         Shenzhen iASPEC Software Engineering Co., Ltd.,
 a company registered in the People’s Republic of China  with number 440301102806634 whose registered office is 中国广东省深圳市福田区天安车工庙工业村F2-6号厂房4楼C、D座 (" Purchaser ");
 

Legal Representative is Lin Jianghuai(林江怀)

(2)

Wuhan Wuda Venture Capital Co., Ltd.,  a company registered in the People’s Republic of China with company number 4201001171016 whose registered office is 中国湖北省武汉市街珞喻路129号测绘科技大厦 ("Vendor A");

Legal Representative is Wo Wenda(沃闻达)

(3)        Song Ai Hong, a citizen of the People’s Republic of China with ID card No.:420111196505224043, whose address is 中国湖北省武汉市洪山区珞南街珞喻路129-180号08号 ("Vendor B");and
 

(4)         Wuhan Wuda Geoinformatics Co., Ltd., a company registered in the People’s Republic of China with company number 4201001170374 whose registered office is 中国湖北省武汉市东湖新技术开发区庙山小区武大科技园吉奥科技大厦("Company")

Legal Representative is Li Qingquan(李清泉)

Each a "Party" to this Agreement and together the "Parties".

BACKGROUND

A

Vendor A is the legal and beneficial owner of 34.21% shares of the Company.

B

Vendor A has agreed to sell to the Purchaser and the Purchaser has agreed to purchase from Vendor A, 26% shares of the Company ("Targeted A Shares") subject to the terms and conditions herein contained.

C

In accordance with the Article of Association of the Company, Vendor B was obligated to make RMB11,400,000 in capital contributions in exchange for legal and beneficial ownership of 22.8% of the shares of the Company. Vendor B’s actual paid-in capital contributions to date is RMB1,400,000, which represents only 2.8% of the shares of the Company.
  

2

Share Purchase and Increase Capital Agreement

D

Vendor B has agreed to sell and the Purchaser has agreed to purchase the legal and beneficial ownership of 20% of the shares of the Company (the "Targeted B Shares"), subject to the terms and conditions herein contained.

E

The remaining shareholders of the Company have made statements in writing that they agreed  Vendor A to sell Targeted A Shares to the Purchaser and waive their first refusal rights to purchase the Targets Shares A.
 

F

The remaining shareholders of the Company have made written statements that they agreed  Vendor B to sell Targeted B Shares to the Purchaser and waive their rights of pre-emption.
 

G

In a meeting of the shareholders of the Company, the shareholders agreed to permit the Purchaser to increase the capital of the Company by investing RMB10,000,000 in the Company, in exchange for an additional 16.67% of the Shares.
 

H

After the Targeted A Shares and Targeted B Shares are transferred to the Purchaser and the Purchaser has invested the additional registered capital amount, the Purchaser will own 55% of the Shares and will become the controlling shareholder of the Company and the registered capital of the Company will be increased to RMB60,000,000.

IT IS HEREBY AGREED:

1.

DEFINITIONS AND INTERPRETATION

In this Agreement the following words and expressions will (except where the context otherwise requires) have the following meanings:

"Business Day" means a day other than a Saturday, Sunday or other legal holidays in China;

"Completion Date" means the date on which the rights of ownership of the Targeted A Shares and Targeted B Shares have been transferred to the Purchaser and the increase capital of the Company have been completed (that is to say the date on which the change of registration is completed), no later than April 1, 2008;
 

“Targeted A Shares”  means the 26% shares of the Company that is legally and beneficially owned by Vendor A.

3

Share Purchase and Increase Capital Agreement

“Targeted B Shares”  means the 20% shares of the Company that Vendor B was entitled to legally and beneficially own.

“Force Majeure”  means the objective situations which cannot be foreseen, avoided or overcome. The situations include but not limited to flood, fire, earthquake, typhoon, tsunami, hurricane, pestilence, war, strike, armed conflict and other similar situations.

“PRC”  means the People’s Republic of China, but excluding Hong Kong, Macao and Taiwan for the purpose of this Agreement;

“RMB”  means Renminbi, the legal currency of the PRC.

2.

SALE AND PURCHASE OF TARGETED A SHARESND CONSIDERATION

2.1

Vendor A has agreed to sell and the Purchaser has agreed to purchase the Targeted A Shares upon the terms and conditions set out in this Agreement.  

2.2

Vendor B has agreed to sell and the Purchaser has agreed to purchase the Targeted B Shares upon the terms and conditions set out in this agreement.

2.3

The Purchaser shall be the legal and beneficial owner of Targeted A Shares of the Company and enjoy all rights and undertake all liabilities in respect of Targeted A Shares, and Vendor A has not any rights related to Targeted A Shares but shall be liable for all liabilities required by law or this Agreement after the Completion Date.

2.4

The Purchaser shall be the legal and beneficial owner of Targeted B Shares of the Company and enjoy all rights and undertake all liabilities in respect of Targeted B Shares, and Vendor B has not any rights related to Targeted B Shares but shall be liable for all liabilities required by law or this Agreement after the Completion Date.

2.5

The Consideration for the purchase of Targeted A Shares shall be RMB24,700,000.

2.6

The Consideration for the purchase of Targeted B Shares shall be RMB10,000,000.

2.7

The Consideration payable by the Purchaser to Vendor A for the purchase of  Targeted A Shares shall consist of:

2.7.1

RMB4,700,000 within 7 business days upon the execution of this Agreement;

4

Share Purchase and Increase Capital Agreement

2.7.2

RMB20,000,000 within 7 business days upon the Completion Date.

2.8

The Consideration payable by the Purchaser to Vendor B for the purchase of the Targeted B Shares shall consist of:

2.8.1

RMB10,000,000 remitted into a provisional account jointly opened by the Purchaser and the Company, within 7 business days upon the execution of this Agreement, to be held for the benefit of the Company as the remainder of the capital contribution that Vendor B owed to the Company;
 

2.8.2

the bank signature card of the provisional account jointly opened by the Purchaser and the Company using the special seal for finance of the Company and the Legal Representative’s seal of the Purchaser. The payment in this account shall not be used freely unless the change of registration has been completed.
 

3.

SUCCESSION OF RIGHTS AND OBLIGATIONS

3.1

The Purchaser shall enjoy the rights and assume the liabilities in respect of Targeted A Shares and Targeted B Shares after the Completion Date. If there are any liabilities or debts, except that liabilities and debts Vendor A or Vendor B has disclosed to the Purchaser, known by the Purchaser after the Completion Date, Vendor A or Vendor B shall fully indemnify and keep indemnified the Purchaser against any such liabilities. If the Purchaser undertakes such liabilities or debts out of disclosure by Vendor A or Vendor B, it has the right to claim damages from Vendor A or Vendor B.

3.2

The parties to this Agreement agreed to restructure the board of directors of the Company after the Completion Date. The board of directors the Company shall be composed of 7 members, three shareholders whose capital contributions exceeding RMB5,000,000 shall appoint one director respectively, and the Purchaser shall appoint 4 directors thereof. The board of supervisors of the Company shall be elected in the first shareholders meeting in accordance with laws after the completion of change of registration as set out in clause 9.1.
 

4.

INCREASE CAPITAL

4.1

At a shareholders meeting the shareholders of the Company have agreed to permit the Purchaser to invest RMB10,000,000 to increase the capital of the Company. The registered capital of the Company will be increased to RMB60,000,000 after the completion of Purchaser’s investment.
 

5

Share Purchase and Increase Capital Agreement

4.2

The Purchaser shall remit an additional capital contribution amount of RMB10,000,000 to the provisional account jointly opened by the Purchaser and the Company, in accordance with the requirements of 2.8.2, within 7 Business Days upon the execution date of this agreement.

4.3

After giving effect to the transfer of Targeted A Shares and Targeted B Shares and the Purchaser’s investment of the additional registered capital amount, the Purchaser will become the controlling shareholder of the Company with 55% of the shares of the Company and the registered capital of the Company will be increased to RMB60,000,000.

5.

REPRESENTATIONS AND WARRANTIES BY THE PURCHASER

The Purchaser represents and warrants that:

5.1

It has and shall have full power and authority to enter into and execute this Agreement which constitutes binding obligations on it in accordance with the terms at the date of this Agreement;

5.2

Its legal representative or authorized representative has obtained the necessary authorization to represent it to enter into this Agreement;

5.3

It shall pay the consideration of Targeted A Shares and Targeted B Shares to  Vendor A and Vendor B respectively in accordance with the terms set out in clause 2 herein without delay;

5.4

It shall pay the increase capital to the Company in accordance with the terms set out in clause 4 herein without delay;

5.5

It shall not operate the business which is not the main business of the Company in the name of Vendor A or Wuhan University without prior consent of Vendor A after obtaining the right of control of the Company;

5.6

It agrees to maintain the existing management team of the Company, and improve the incentive system for the management gradually;

6

Share Purchase and Increase Capital Agreement

5.7

It shall procure the transfer of Targeted A Shares and Targeted B Shares to be completed by the Completion Date as provided for in the clause 1.4.

6.

REPRESENTATIONS AND WARRANTIES BY VENDOR A

Vendor A represents and warrants that:

6.1

It has and shall have full power and authority to enter into and execute this Agreement which constitutes binding obligations on it in accordance with the terms at the date of this Agreement;

6.2

Its legal representative or authorized representative has obtained the necessary authorization to represent it to enter into this Agreement;

6.3

It has legal, complete and authentic right of disposal of Targeted A Shares;

6.4

There is no pledge nor any other Encumbrance on Targeted A Shares;

6.5

It has not known any third party that has claimed or will claim any rights which would have a material and adverse effect over all or part of Targeted A Shares, and there are no disputes, litigations, arbitrations or administrative penalties in respect of  Targeted A Shares;

6.6

Targeted A Shares shall be transferred, together with all shares earnings, to the Purchaser by the Completion Date, and it shall not claim the right of distribution or request to distribute the said earnings.
 

6.7

It shall procure the transfer of Targeted A Shares to be completed by the Completion Date as provided for in the clause 1.4.

7.

REPRESENTATIONS AND WARRANTIES BY VENDOR B

Vendor B represents and warrants that:

7.1

She has and shall have full power and authority to enter into and execute this Agreement which constitutes binding obligations on it in accordance with the terms at the date of this Agreement;

7.2

She has legal, complete and authentic right of disposal of Targeted B Shares;

7.3

There is no pledge nor any other Encumbrance on Targeted B Shares;

7

Share Purchase and Increase Capital Agreement

7.4

She has not known any third party that has claimed or will claim any right which would have a material and adverse effect over all or part of Targeted B Shares and there are no disputes, litigations, arbitrations or administrative penalties in respect of  Targeted B Shares;

7.5

Targeted B Shares shall be transferred, together with all shares earnings, to the Purchaser by the Completion Date, she shall not claim the right of distribution or request to distribute the said earnings.
 

7.6

She shall procure the transfer of Targeted B Shares to be completed by the Completion Date as provided for in the clause 1.4.

8.

REPRESENTATIONS AND WARRANTIES BY THE COMPANY

The Company represents and warrants that:

8.1

It has and shall have full power and authority to enter into and execute this Agreement which constitutes binding obligations on it in accordance with the terms at the date of this Agreement;

8.2

Its legal representative or authorized representative has obtained the necessary authorization to represent it to enter into this Agreement;

8.3

It shall continue its business in the ordinary and usual course so as to maintain the same as a going concern in the period from the date of this Agreement to the Completion Date. In such period, it shall not distribute any profits nor amend the Articles of Association nor be engaged with any third party for any activities which would have material and adverse effects or damages to its ordinary operation or its financial status;

8.4

There is no pledge nor any other Encumbrance on Targeted A Shares or Targeted B Shares;

8.5

It has not known any third party that has claimed or will claim any right which would have a material and adverse effect over all or part of Targeted A Shares or Targeted B Shares and there are no disputes, litigations, arbitrations or administrative penalties in respect of Targeted A Shares or Targeted B Shares;

8

Share Purchase and Increase Capital Agreement

8.6

All meeting minutes, financial statements, statements of business operation, balance sheet and other data in respect of the Company which has been provided to or will provide to the Purchaser shall be true, complete, legal and valid in all respects, and there is no false, omitted or illegal circumstance; except for the liabilities and debts it has otherwise disclosed to the Purchaser in the specific, definite and detailed debts list, there are no other liabilities and debts to any third party;

8.7

It shall not distribute any earnings of Targeted A Shares or Targeted B Shares to  Vendor A or Vendor B respectively in the period from the date of this Agreement to Completion Date;

8.8

It shall apply to the local administration of industry and commerce for change of registration within 3 Business Days upon the Consideration A and Consideration B and increase capital paid by the Purchaser pursuant to the clause 2.7.1, 2.8.1 and 4.2 and verified by accounting firm;

8.9

There is no any ambiguous relationship of property right in the period from the date of this Agreement to the Completion Date, which also applies to its subsidiaries, holding companies, branches and offices.

9.

COMPLETION OF TRANSACTION AND INCREASE CAPITAL

9.1

The parties to this Agreement shall procure to complete the transfer of Targeted A Shares and Targeted B Shares and the increase capital of the Company, including but not limited with signing necessary documents, assisting the Purchaser recorded in the roster of the Company and assisting the Company to complete the change of registration.

9.2

The Completion of transfer of Targeted A Shares and Targeted B Shares and the increase capital of the Company shall be the common liability for the parties to this Agreement. The Purchaser, Vendor A and Vendor B shall provide necessary legal documents and fulfil necessary legal procedures to assist the Company to complete change of registration. If one or more of the Purchaser, Vendor A and Vendor B fails to provide necessary legal documents so that the change of registration can not be completed on schedule, the party which failed to provide assistance shall bear the liabilities. If the change of registration can not be completed by reason of the Company, the Company shall bear the liabilities.

9

Share Purchase and Increase Capital Agreement

9.3

If any party to this Agreement fails to perform its obligations as set out in clause 9.1 and 9.2, the party shall be liable for its breach of this Agreement. If Targeted A Shares and Targeted B Shares fail to be transferred to the Purchaser or the change of registration of increase capital to the Company by the Purchaser fail to be completed within the limitation as set out in clause 9.1, the purpose of this Agreement shall be deem as frustrated.

10.

CONFIDENTIALITY

10.1

The parties to this Agreement shall keep confidential in respect of information and data obtained from or related to this share transfer and increase capital activity, to prevent loss of the parties unless otherwise disclosed to their holding companies, directors, employees or consultant or the directors, employees or consultants of their holding companies as necessary. The party who receives communication information expressed as confidential information or in the nature of confidentiality or other information relating to or connected with the business, transaction or financial shall keep confidential unless any part of the above-mentioned information is in the public domain. The obligation under this clause shall be terminated to the extent of the public domain thereafter.

10.2

The parties to this Agreement shall supervise and urge their directors, employees or consultants to comply with this clause.

11.

FORCE MAJEURE

11.1

In case of force majeure, the affected party shall, by written notice, notify other parties without any delay, and shall, within 10 days thereafter, provide the legal and valid evidence and detailed information of the events explaining the reason for its inability to perform or delay the performance of all or part of this Agreement. The parties to this Agreement shall, through consultation, decide whether to terminate this agreement or whether to delay the performance of this Agreement.

11.2

The party who was interfered with, affected or delayed to perform all or part of its obligation of this Agreement due to force majeure is exempted from liability in part or in whole in light of the impact of the event of force majeure. Where an event of force majeure occurred after the party’s delay in performance, it is not exempted from liability.

10

Share Purchase and Increase Capital Agreement

11.3

In case of force majeure, the parties to this Agreement shall consult with each other as soon as possible to seek a fair settlement and take all reasonable measures to mitigate the loss caused by force majeure to minimum.

12.

COST  

12.1

The cost of notarization, testimony, change of registration and other fees and expenses incurred in and incidental to the shares transfer and increase capital of this Agreement shall be borne by the Purchaser, Vendor A and the Company in equal shares.

12.2

The cost of all stamp duty and other similar duty incurred in respect of the parties’ execution of this Agreement shall be borne by each party respectively.

13.

LIABILITIES FOR BREACH

13.1

The parties to this Agreement shall perform their respective obligations under this Agreement after the execution of this Agreement. Breach of any clauses or warranties of this Agreement shall constitute breach of the Agreement. The breaching party shall pay 20% of corresponding consideration and compensate the observant party all the damages suffering therefrom.

13.2

,If this Agreement could not be performed in whole or in part or be deemed as invalidity due to any party’s breach of this Agreement. The breaching party shall assume liabilities for breach to the observant party as set out in the clause 13.1.

13.3

If there are any liabilities, debts or disputes, except that liabilities and debts Vendor A or Vendor B has disclosed to the Purchaser, known by the Purchaser after the Completion Date, Vendor A or Vendor B shall be responsible for and to avoid the damages to the Purchaser. Vendor A or Vendor B shall undertake responsibilities of breach as per clause 13.1 and fully compensate the Purchaser all the actual losses if the Purchaser suffers losses from any such disputes or liabilities.

13.4

In case of the Purchaser fails to perform its liability set out in clause 2.7.2 after the Completion Date, it shall bear the liability in accordance with the clause 13.1 hereof and compensate the losses of Vendor A caused by the breach of the Purchaser.

14.

GOVERNING LAW AND DISPUTE RESOLUTION

11

Share Purchase and Increase Capital Agreement

14.1

This Agreement will be governed by and construed in accordance with the laws of the PRC, excluding Hong Kong Special Administrative Region, Macao Special Administrative Region and Taiwan of the PRC.

14.2

All disputes arising from the execution of or construction of this Agreement shall be settled through friendly consultation by the parties thereto. In case no settlement can be reached, such disputes shall be submitted for and finally settled by arbitration at the Shenzhen Arbitration Committee in accordance with the Rules of Shenzhen Arbitration Committee in effect. The arbitration award made by the Commission shall be accepted as final judgment and binding upon the parties hereto.

14.3

During the period of arbitration, each party shall perform its obligations under this Agreement except for the clauses related to the disputed issues.

15.

NOTICES

15.1

Any notice must be dispatched in writing by per-paid posting, facsimile transmission or personally to the receiver’s registered address. Notice will be deemed to be given:

15.1.1

in case of delivery personally- on delivery;  

15.1.2

in case of posting-3 days after posting; or

15.1.3

in case of facsimile transmission –after dispatch.

Shenzhen iASPEC Software Engineering Co., Ltd.

Address: 中国广东省深圳市福田区天安车工庙工业村F2-6号厂房4楼C、D座 518040

Contact Person: Zong Guang Yuan

Email: gyzong@chinacpby.com

Tel: 86-755-83808333-8122

Fax: 86-755-83709333

Wuhan Wuda Venture Capital Co., Ltd.

Address: 中国湖北省武汉市街珞喻路129号测绘科技大厦 430079

Contact Person: Wang Lei

Email: wlrjk_2002@yahoo.com.cn

Tel: 86-27-87879552

Fax: 86-27-87879552

12

Share Purchase and Increase Capital Agreement

Song Ai Hong

Address: 中国湖北省武汉市洪山区珞南街珞喻路129-180号08号 430223

Email: songaihong@geostar.com.cn

Tel: 86-27-87196268

Fax: 86-27-87196133

Wuhan Wuda Geoinformatics Co., Ltd.

Address: 中国湖北省武汉市东湖新技术开发区庙山小区武大科技园吉奥科技大厦 430223

Contact Person: Zhao Wei Zhen

Email: zwz@geostar.com.cn

Tel: 86-27-87196291

Fax: 86-27-87196133

16.

MISCELLANEOUS

16.1

This Agreement will be valid unless it is signed by the legal representative or authorized representative of each party to this Agreement and notarized by WuHan Notary Public Office. The Company shall be responsible for assisting other parties to handle relevant procedures. The performance for obligations of each party shall not be affected by the time of notarization.
 

16.2

The parties to this Agreement may amend or supplement this Agreement pursuant to actual necessary circumstance variation or matters not mentioned herein and enter into supplemental agreement.
 

16.3

The amendment or supplemental agreement served as schedules of this Agreement is an integral part of this Agreement with equal legal validity. In case of any discrepancy between the supplemental clauses and this Agreement, the supplemental clauses shall be prevail.

13

Share Purchase and Increase Capital Agreement

16.4

Any amendment or supplemental agreement shall be in writing. Such amendment or supplemental agreement shall not be effective unless it is signed by the legal representative or authorized representative of each party to this Agreement.

16.5

This Agreement shall be in 12(twelve) copies with equal legal effectiveness. Each party to this Agreement shall hold one copy, the remaining copies shall be filed to the relevant administrative authority for record.

16.6

There are six schedules attached in this Agreement:

16.6.1

Schedule 1: the resolutions of the Shareholders Meeting of the Company in respect of agreeing Vendor A transferring Targeted A Shares and Vendor B transferring Targeted B Shares to the Purchaser;

16.6.2

Schedule 2: the resolutions of the Shareholders Meeting of the Company agreeing the Purchaser subscribing for increase capital;

16.6.3

Schedule 3: the resolutions of the Shareholders Meeting of Vendor A that agreed to transfer Targeted A Shares to the Purchaser;

16.6.4

Schedule 4: the resolutions of the Board of Directors of the Purchaser that agreed to purchase Targeted A Shares and Targeted B Shares and subscribe for increase capital of the Company;

16.6.5

Schedule 5: the detailed statement of material creditor and debtor and statement of financial position of the Company;

16.6.6

 Schedule 6: the statement in respect that there is no pledge, mortgage or any other Encumbrance on its investment of the Company and there is not any debt of its branches or offices.

16.7

The parties to this Agreement undertake that they shall procure to complete clause 8 of the Entrusted Agreement entered into by the Company, Tianhe Navigation and Communication Technology Co., Ltd. and Spaceflight Long March Rocket Technology Co., Ltd. on November 6, 2003. According to the Entrused Agreement, the Company shall transfer 20% shares of Tianhe Navigation and Communication Technology Co., Ltd., owned by the Company, to Spaceflight Long March Rocket Technology Co., Ltd. At the meantime, Tianhe Navigation and Communication Technology Co.,Ltd shall transfer 90.91% shares of Wuhan Geo Navigation and Communication Technology Co., Ltd., owned by Tianhe Navigation and Communication Technology Co., Ltd., to the Company before November 2008.

14

Share Purchase and Increase Capital Agreement

16.8

If the shares set out in clause 16.7 fail to be transferred within the said schedule, the parties to this Agreement shall ensure to renew the Entrusted Agreement.

16.9

This Agreement is made in Chinese and English, when there is conflict between the Chinese version and the English version, the Chinese version shall prevail.

15

Share Purchase and Increase Capital Agreement

IN WITNESS  of which the parties or their duly authorised representatives have executed this agreement.

	
  
  Signed by

For and on behalf of

Shenzhen iASPEC Software Engineering Co., Ltd.

	 	
  
  

                                        

NAME:Lin Jiang Huai, President  

	
  
  Signed by

For and on behalf of

Wuhan Wuda Venture Capital Co., Ltd.

	 	
  
  

                                        

NAME:Wo Wen Da

	
  
  Signed by

For and on behalf of

Song Ai Hong

	 	

                                        

NAME:Song Ai Hong

	
  
  Signed by

For and on behalf of

Wuhan Wuda Geoinformatics Co., Ltd.

	 	
  
  

                                        

NAME: Li Qing Quan

16

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