Document:

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                          BALDWIN AMERICAS CORPORATION
                        BALDWIN EUROPE CONSOLIDATED INC.
                        BALDWIN ASIA PACIFIC CORPORATION
                      C/O BALDWIN TECHNOLOGY COMPANY, INC.
                                12 COMMERCE DRIVE
                                SHELTON, CT 06484

                                                      June 28, 2002

Fleet National Bank
One Landmark Square, 12th Floor
Stamford, Connecticut  06901

First Union National Bank
Mail Code - PA1246
123 South Broad Street - 14MBO
Philadelphia, Pennsylvania 19101-7558

Ladies and Gentlemen:

         This letter sets forth our agreements with respect to the obligations
described below of Baldwin Americas Corporation, Baldwin Europe Consolidated
Inc. and Baldwin Asia Pacific Corporation (collectively, the "BORROWERS") and
Baldwin Technology Company, Inc., Baldwin Technology Corporation, Baldwin
Consolidated Europe BV, Baldwin Graphics Systems, Inc., Baldwin Kansa
Corporation, Baldwin German Capital Holding GmbH, Baldwin Grafotec GmbH and
Baldwin Japan Ltd. (the "GUARANTORS") to Fleet National Bank ("FLEET") and First
Union National Bank ("FIRST UNION", and together with Fleet, the "LENDERS").

         Each of the Borrowers and the Guarantors (collectively, the "OBLIGORS")
acknowledges that they are unconditionally and jointly and severally indebted
(and contingently indebted, as the case may be) to the Lenders with respect to
their respective debts more particularly described on Exhibit A attached hereto
(collectively, the "INDEBTEDNESS") in the amounts set forth on Exhibit A, plus
interest accrued and accruing thereon and costs and expenses of collection,
including without limitation, attorneys' fees. Additionally, each of the
Obligors acknowledges that it has no defense, offset or counterclaim to its
obligations in respect of the Indebtedness and further that it has no other
claim whatsoever against Fleet (in its capacity either as Administrative Agent
(in such capacity, the "ADMINISTRATIVE AGENT") or as Lender) or First Union (in
its capacity either as Documentation Agent or as Lender) (in each case whether
arising in contract, tort or otherwise) with respect to, or arising out of, the
Indebtedness.

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         The Indebtedness of the Borrowers is described in and evidenced by,
among other things: (1) that certain Amended and Restated Credit Agreement,
dated as of January 28, 2002, by and among Borrowers, the Guarantors, the
Lenders, Fleet, as Administrative Agent, and First Union, as Documentation Agent
(as amended, modified, restated or otherwise supplemented from time to time, the
"CREDIT AGREEMENT"), (2) a Replacement Revolving Credit Note in favor of Fleet
in the amount of up to $8,500,000 dated as of January 28, 2002 (the "FLEET
REVOLVING LOAN NOTE"), (3) a Replacement Revolving Credit Note in favor of First
Union in the amount of up to $8,500,000 dated as of January 28, 2002 (the "FIRST
UNION REVOLVING LOAN NOTE", and together with the Fleet Revolving Loan Note, the
"REVOLVING LOAN NOTES"), (4) a Term Loan Note in favor of Fleet in the amount of
$2,000,000 dated as of January 28, 2002 (the "FLEET TERM LOAN NOTE"), (5) a Term
Loan Note in favor of First Union in the amount of $2,000,000 dated as of
January 28, 2002 (the "FIRST UNION TERM LOAN NOTE", and together with the Fleet
Term Loan Note, the "TERM LOAN NOTES"), and (6) a Hedging Agreement with Fleet
dated April 30, 2001. The Indebtedness of the Guarantors is described in and
evidenced by the guaranty agreements described in Exhibit A (collectively, the
"GUARANTY AGREEMENTS").

         Capitalized terms used but not otherwise defined herein shall have the
meanings ascribed thereto in the Credit Agreement. Hereinafter, the Loan
Documents, the Hedging Agreement and this Agreement shall be referred to as the
"CREDIT AND FORBEARANCE DOCUMENTS").

         Each of the Obligors acknowledges and affirms that the Borrowers are
currently in default of their respective obligations under the Credit Agreement
and the other Loan Documents as a result of its past and continuing failure to
comply with the covenant set forth in Section 6.1(b) of the Credit Agreement
(the "EXISTING COVENANT DEFAULT") and that, as a result of such default, (a) the
Lenders have the immediate and unrestricted right to, among other things,
request the Administrative Agent to terminate the Commitment, declare all
Obligations to be immediately due and payable and otherwise exercise any and all
rights and remedies available to them under the Loan Documents and/or at law and
in equity, and (b) Fleet, as counterparty under the Hedging Agreement, has the
immediate and unrestricted right to terminate the Hedging Agreement and
otherwise exercise any and all rights and remedies available to it under the
Hedging Agreement and/or at law and in equity. In addition, the Borrowers have
advised the Administrative Agent and the Lenders that they currently have no
ability, and do not anticipate having the ability, to satisfy their respective
Indebtedness to the Lenders under the Term Loan Notes on or before the Term Loan
Maturity Date (the "ANTICIPATORY DEFAULT").

         In order to avoid the cost, expense and disruption which would result
from the Lenders' efforts to collect the Indebtedness and in order to allow the
Obligors sufficient time to obtain alternative financing for the purpose of
refinancing all of the Indebtedness, the Administrative Agent and the Lenders
are willing to forbear from collection of the Indebtedness until August 12, 2002
(the "FORBEARANCE PERIOD"); SUBJECT, HOWEVER, to the express agreements and
conditions set forth below and provided further that:

         (1) except for the Existing Covenant Default and the Anticipatory
Default, no other

                                      -2-

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default or event of default (howsoever defined) under or within the meaning of
any of the other Credit and Forbearance Documents, including without limitation,
a default under any other financial covenant set forth in the Credit Agreement,
shall occur or exist, it being further acknowledged and agreed that from and
after the date hereof all cure and/or grace periods and/or requirements for
prior notice or demand, if any, that must be provided to one or more of the
Obligors prior to an event being deemed a default or an event of default
(howsoever defined) under any of the Credit and Forbearance Documents are hereby
waived by each of the Obligors and are of no further force and effect;

         (2) there shall be no further material adverse change in the business
or financial condition of any of the Obligors other than has been disclosed to
the Lenders, after the date hereof;

         (3) there shall be no material adverse change in the value, extent or
condition of any of the Collateral or other property granted to the
Administrative Agent, on behalf of the Lenders, to secure any or all of the
Indebtedness (it being agreed and understood that the Indebtedness under the
Revolver Loan Notes may exceed the amount permitted by the sum of clauses (a),
(b), (c) (d) and (e) of the Borrowing Base by no more than $5,000,000 (the
"OVERADVANCE") and that if the Overadvance increases during the Forbearance
Period, such occurrence shall be deemed a material adverse change, a default
under this Agreement and grounds for immediate termination of the Forbearance
Period);

         (4) each of the Obligors shall perform and comply with, as and when
required, TIME BEING OF THE ESSENCE in all respects, all of the respective
agreements, covenants and obligations set forth in the Credit and Forbearance
Documents;

         (5) no party shall take any action against any of the Obligors or
against any of the Collateral or other property granted to the Administrative
Agent, on behalf of the Lenders, to secure any or all of the Indebtedness which
in the Lenders' sole judgment will have a material adverse impact upon the
Lenders' right or ability to repossess, attach or execute upon any of such
Collateral or other property;

         (6) none of the Obligors shall make any assignment for the benefit of
creditors or similar action or be the subject, voluntarily or involuntarily, of
any bankruptcy, insolvency, reorganization or other similar proceeding; and

         (7) none of the Obligors shall have misrepresented any material fact
to, or committed any fraud upon, the Administrative Agent and/or any of the
Lenders ((1), (2), (3), (4), (5), (6), and (7) being hereafter referred to
collectively as the "FORBEARANCE CONDITIONS").

I.       AGREEMENTS, REPRESENTATIONS AND WARRANTIES.

         A. The Obligors acknowledge that they have requested the Administrative
Agent and

                                      -3-

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the Lenders to forbear from collection of the Indebtedness and that
such forbearance upon the terms set forth herein is satisfactory to each of them
and is in the best interest of the Obligors and the Lenders.

         B. Each of the Obligors represents and warrants to the Administrative
Agent and the Lenders that: (1) it has the requisite corporate power to enter
into this Agreement and the transactions contemplated herein, and has taken all
necessary corporate action to authorize this Agreement and the transactions
contemplated herein; and (2) the Credit and Forbearance Documents to which it is
a party constitute the legal, valid and binding obligations of each Borrower,
enforceable against it in accordance with their respective terms.

         C. So long as the Forbearance Conditions are and continue to be
satisfied, the Administrative Agent and the Lenders agree to forbear from
collection of the Indebtedness until the termination or expiration of the
Forbearance Period. The Obligors acknowledge and agree that upon (a) the failure
of any of the Forbearance Conditions to be satisfied or continue to be
satisfied, including without limitation, any failure by the Borrowers to
continue to make interest or any other payments required under any of the Credit
Documents when due and payable (other than principal payments required under the
Term Loan Notes), or (b) the expiration of the Forbearance Period: (a) all
Indebtedness and other sums due by each of the Obligors to the Lenders under the
Credit and Forbearance Documents shall automatically and immediately be due and
payable without notice or demand of any kind, (b) the Obligors, or any one of
them, shall immediately deposit with the Administrative Agent, as cash
collateral, an amount, in immediately available funds, equal to the aggregate
amount available for drawing under the Dresdner Letter of Credit (as defined
below), and (c) the Administrative Agent, on behalf of the Lenders, and/or any
of the Lenders shall have the immediate and unrestricted right to exercise,
without notice or demand, any and all rights and remedies available to them
under the Credit and Forbearance Documents and at law or in equity.

         D. Notwithstanding anything to the contrary contained in the Credit
Agreement or any of the other Credit Documents, the Obligors acknowledge and
agree that effective on the date hereof: (1) the Borrowers shall have no further
ability to request, and the Lenders shall have no further obligation to make,
any further Revolving Credit Loans; PROVIDED, HOWEVER, that the Lenders agree
that Fleet, as Issuing Lender, shall be permitted to extend the expiry date of
that certain Standby Letter of Credit, No. CS1280278, dated July 9, 2001, for
the benefit of Dresdner Bank, AG in the face amount of Euro 3,000,000 (the
"DRESDNER LETTER OF CREDIT") to August 12, 2002, (2) the Applicable Margin for
each outstanding LIBOR Rate Loan shall be or continue to be 4.75% and the
Applicable Margin for each outstanding Base Rate Loan shall be or continue to be
2.50% (it being agreed and understood, however, that upon the termination or
expiration of the Forbearance Period, the Lenders shall have the right, in
addition to any other rights or remedies they may have, to increase the interest
rates applicable to the then outstanding Loans to the default rates described in
Section 2.10(b) of the Credit Agreement, without notice or demand of any kind),
and (3) the Letter of Credit Fee shall be an amount equal to 4.75%.

         E. In consideration of and as a material inducement to the Lenders to
enter into this

                                      -4-

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Agreement, the Borrowers acknowledge and agree to pay to the Lenders on the date
hereof a nonrefundable fee (which shall be in addition to, and not in lieu of,
any other fees which the Borrowers are required to pay to the Administrative
Agent, the Lenders and/or the Issuing Lender under the Credit Documents) equal
to $50,000.

         F. As a further inducement to the Administrative Agent and the Lenders
to enter into this agreement, effective as of the date hereof, the Obligors do
each hereby release, acquit and forever discharge the Administrative Agent, each
of the Lenders, their respective representatives, subsidiaries, affiliates,
officers, directors, agents, employees, servants, and attorneys, and the
respective personal representatives, successors and assigns of any and all of
them (collectively, the "RELEASED LENDER PARTIES"), from and against any and all
claims (including without limitation, any so-called "lender liability" claims or
defenses), demands, debts, actions, causes of action, suits, contracts,
agreements, obligations, accounts, defenses, offsets against any of the
Indebtedness or other obligations of any of the Obligors and liabilities of any
kind or character whatsoever, known or unknown, suspected or unsuspected, in
contract or in tort, at law or in equity, including without implied limitation,
such claims and defenses as fraud, mistake, failure of consideration and duress,
which any of the Obligors and/or anyone claiming by or through any of them ever
had, now has, or might hereafter have against any of the Released Lender Parties
for or by reason of any matter, cause or thing whatsoever occurring from the
beginning of time through the end of the Forbearance Period which relates to, in
whole or in part, directly or indirectly: (i) any of the Indebtedness, (ii) any
of the Credit Documents; (iii) any of the Collateral or other property granted
to the Administrative Agent, on behalf of the Lenders, as security for any of
the Indebtedness; or (iv) the administration of any of the Indebtedness or
conduct of any of the Released Lender Parties. In addition, the Obligors each
agree not to commence, join in, assist, prosecute or participate in any suit or
other proceeding against any of the Released Lender Parties relating directly or
indirectly to any of the foregoing matters or otherwise contrary to the
provisions set forth above.

         G. By their signatures below, the Guarantors acknowledge and consent to
the accommodations being granted by the Administrative Agent and the Lenders
hereunder, and further acknowledge and agree that the Guaranty Agreements remain
in full force and effect and continue to apply to the Indebtedness, including
without limitation, the Indebtedness as modified by this Agreement.

         H. The Obligors jointly and severally agree to pay all costs and
expenses incurred by the Administrative Agent and each of the Lenders, including
without limitation, reasonable attorneys' fees, in connection with this
Agreement and the transactions contemplated herein. Nothing herein shall be
construed to limit the Obligors' obligation to pay fees, costs and expenses
pursuant to the terms of the Credit and Forbearance Documents.

         I. The Obligors acknowledge that this Agreement is the result of good
faith negotiations, that each of them has carefully considered all of their
respective alternatives and that they have entered into this Agreement without
duress or coercion of any kind.

                                      -5-

<PAGE>

         J. This Agreement and the other Credit and Forbearance Documents
constitute the entire understanding and agreement among the parties hereto and
supersede any prior or contemporaneous written or oral understanding with
respect to the subject matter hereof. Except as expressly modified herein, the
Credit and Forbearance Documents remain unmodified and in full force and effect
in accordance with their terms.

         K. Wherever possible, each provision of this Agreement shall be
interpreted in such a manner as to be effective and valid under applicable law,
but if any provision of this Agreement shall be prohibited by or invalid under
applicable law, such provision shall be ineffective to the extent of such
prohibition or invalidity, without invalidating the remainder of such provisions
of this Agreement.

         L. This Agreement may not be modified in any manner, except by written
agreement signed by all parties hereto.

         M. No course of dealing heretofore or hereafter between the Obligors,
or any one of them, and the Administrative Agent and the Lenders, or any one of
them, or any failure or delay on the part of the Administrative Agent and/or the
Lenders in exercising any rights or remedies under this Agreement or existing by
law shall operate as a waiver of any right or remedy of the Administrative Agent
and/or the Lenders with respect to the Indebtedness, and no single or partial
exercise of any right or remedy hereunder shall operate as a waiver or
preclusion to the exercise of any other rights or remedies the Administrative
Agent and/or the Lenders may have in regard to the Indebtedness.

         N. This Agreement may be executed by one or more of the parties to this
Agreement on any number of separate counterparts (including by facsimile
transmission), and all of said counterparts taken together shall be deemed to
constitute one and the same instrument.

         O. This Agreement and the other Credit and Forbearance Documents, and
all transactions, assignments and transfers hereunder and thereunder, and all
the rights of the parties, shall be governed as to validity, construction,
enforcement and in all other respects by the laws of the State of Connecticut
(without regard to its conflicts of law provisions).

         If the foregoing is in accordance with your agreement, please indicate
the same by signing below. If this Agreement is not executed fully and delivered
to each of the parties hereto by no later than June 28, 2002, this Agreement
shall not become effective and shall be deemed null and void and of no force or
effect.

                                      -6-

<PAGE>

                                Very truly yours,

                                BALDWIN AMERICAS CORPORATION

                                By
                                   -------------------------------------------
                                    Name:    Vijay C. Tharani
                                    Title:   Vice President

                                BALDWIN EUROPE CONSOLIDATED INC.

                                By
                                   -------------------------------------------
                                    Name:    Vijay C. Tharani
                                    Title:   Vice President

                                BALDWIN ASIA PACIFIC CORPORATION

                                By
                                   -------------------------------------------
                                    Name:    Vijay C. Tharani
                                    Title:   Vice President

                                BALDWIN TECHNOLOGY COMPANY, INC.

                                By
                                   -------------------------------------------
                                    Name:    Vijay C. Tharani
                                    Title:   Vice President, CFO & Treasurer

                                BALDWIN TECHNOLOGY CORPORATION

                                By
                                   -------------------------------------------
                                    Name:    Vijay C. Tharani
                                    Title:   Vice President

                                       -7

<PAGE>

                                BALDWIN GRAPHIC SYSTEMS, INC.

                                By
                                   -------------------------------------------
                                    Name:    Vijay C. Tharani
                                    Title:   Vice President

                                BALDWIN KANSA CORPORATION

                                By
                                   -------------------------------------------
                                    Name:    Ronald F. Rahe
                                    Title:   Secretary

                                BALDWIN EUROPE CONSOLIDATED BV

                                By
                                   -------------------------------------------
                                    Name:    Henricus J. M. Groenemans
                                    Title:   Director

                                By
                                   -------------------------------------------
                                    Name:    Vijay C. Tharani
                                    Title:   Director

                                BALDWIN GERMAN CAPITAL HOLDING GMBH

                                By
                                   -------------------------------------------
                                    Name:    Karl S. Puehringer
                                    Title:   Geschaftsfuhrer

                                BALDWIN GRAFOTEC GMBH

                                By
                                   -------------------------------------------
                                    Name:    John T. Heald, Jr.
                                    Title:   Geschaftsfuhrer

                                      -8-

<PAGE>

                                BALDWIN - JAPAN LTD.

                                By
                                   -------------------------------------------
                                    Name:    John T. Heald, Jr.
                                    Title:   Representative Director

REVIEWED AND AGREED TO:

FLEET NATIONAL BANK,
as Administrative Agent and Lender

By
   --------------------------------
Name:    W. Lincoln Schoff, Jr.
Title:   Senior Vice President

FIRST UNION NATIONAL BANK,
as Lender

By
   --------------------------------
Name:  Elizabeth B. Styer
Title:    Senior Vice President

                                      -9-

<PAGE>

                                    Exhibit A

         1. A revolving loan extended by the Lenders to the Borrowers in the
principal amount of up to $17,000,000 in accordance with the terms and
conditions of, and as evidenced by (a) the Credit Agreement, (b) the Revolving
Loan Notes, and (c) the other Credit Documents executed and/or delivered in
connection with the aforesaid revolving loan, pursuant to which the Borrowers
are legally and validly indebted to the Lenders (excluding Letter of Credit
Obligations) in the aggregate principal amount as of June 28, 2002 of
$12,650,000.

         2. (a) A Standby Letter of Credit, No. CS1280278, dated July 9, 2001,
for the benefit of Dresdner Bank, AG in the face amount of Euro 3,000,000, in
accordance with the terms and conditions of, and as evidenced by (i) an
Application and Agreement for Standby Letter of Credit, dated July 5, 2001, and
(ii) the other Credit Documents executed and/or delivered in connection with the
aforesaid letter of credit, pursuant to which the Borrowers are legally and
validly contingently indebted to the Issuing Lender in the principal amount as
of June 28, 2002 of Euro 3,000,000.

            (b) A Standby Letter of Credit, No. CS1282215, dated August 3, 2001,
for the benefit of First Treetops LP, in the face amount of $124,292, in
accordance with the terms and conditions of, and as evidenced by (i) an
Application and Agreement for Standby Letter of Credit, dated August 3, 2001,
and (ii) the other Credit Documents executed and/or delivered in connection with
the aforesaid letter of credit, pursuant to which the Borrowers are legally and
validly contingently indebted to the Issuing Lender in the principal amount as
of June 28, 2002 of $124,292.

         3. A term loan extended by the Lenders to the Borrowers in the original
principal amount of $4,000,000 in accordance with the terms and conditions of,
and as evidenced by (a) the Credit Agreement, (b) the Term Loan Notes, and (c)
the other Credit Documents executed and/or delivered in connection with the
aforesaid term loan, pursuant to which the Borrowers are legally and validly
indebted to the Lenders in the aggregate principal amount as of June 28, 2002 of
$4,000,000.

         4. Debt evidenced by a Hedging Agreement by and among one or more of
the Borrowers and Fleet.

         5. The Parent Guarantee dated as of October 31, 2000 by Baldwin
Technology Company, Inc in favor of the Administrative Agent, for the benefit of
the Lenders, pursuant to which Baldwin Technology Company, Inc has
unconditionally and jointly and severally guaranteed the payment and performance
of any and all of the Obligations.

         6. The Subsidiaries Guarantee dated as of October 31, 2000 by Baldwin
Technology Corporation, Baldwin Graphics Systems, Inc. and Baldwin Kansa
Corporation in favor of the Administrative Agent, for the benefit of the
Lenders, pursuant to which Baldwin Technology Corporation, Baldwin Graphics
Systems, Inc. and Baldwin Kansa Corporation has each unconditionally and jointly
and severally guaranteed the payment and performance of any and all

<PAGE>

of the Obligations.

         7. The Subsidiaries Guarantee dated December 21, 2000 by Baldwin Japan
Ltd. in favor of the Administrative Agent, for the benefit of the Lenders,
pursuant to which Baldwin Japan Ltd. has unconditionally and jointly and
severally guaranteed the payment and performance of any and all of the
Obligations.

         8. The Subsidiaries Guarantee dated December 21, 2000 by Baldwin German
Capital Holding GmbH and Baldwin Grafotec GmbH in favor of the Administrative
Agent, for the benefit of the Lenders, pursuant to which Baldwin German Capital
Holding GmbH and Baldwin Grafotec GmbH has each unconditionally and jointly and
severally guaranteed the payment and performance of any and all of the
Obligations.

                                      -11-<PAGE>
                                                                     EXHIBIT 4.1

                        PRINCETON NATIONAL BANCORP, INC.
                              AMENDED AND RESTATED
                          EMPLOYEE STOCK PURCHASE PLAN

         WHEREAS, Princeton National Bancorp, Inc., a Delaware corporation (the
"Company"), desires to establish the Princeton National Bancorp, Inc. Employee
Stock Purchase Plan (the "Plan") to provide a convenient and economical way for
certain employees of the Company or its subsidiaries to commence or increase
their ownership of the Company's common stock;

         NOW, THEREFORE, the Company hereby establishes the Plan, effective
January 1, 1995, the terms of which shall be as follows:

         1. DEFINITIONS. Wherever used herein, the following words and phrases
shall have the meanings stated below unless a different meaning is plainly
required by the content:

            (a) "BOARD" means the Board of Directors of the Company.

            (b) "COMMON STOCK" means shares of the common stock of the Company,
$5.00 par value per share.

            (c) "ELIGIBLE DIRECTOR" means each person who is not employed by the
Company or a Subsidiary, who from time to time serves on the Board or on the
board of directors of a Subsidiary, and who has been designated by the Board as
eligible to purchase Common Stock under the Plan.

            (d) "ELIGIBLE EMPLOYEE" means each person who is employed by the
Company or a Subsidiary and who has been designated by the Board as eligible to
purchase Common Stock under the Plan.

            (e) "INVESTMENT DATE" means the last business day of each quarter
(i.e., March 31, June 30, September 30 and December 31).

            (f) "PARTICIPANT" means an Eligible Director or an Eligible Employee
who has elected to participate in the Plan by completing an Authorization Card
and making a lump-sum contribution or authorizing payroll deductions pursuant to
Sections 5 and 6 of the Plan.

            (g) "SUBSIDIARY" or "SUBSIDIARIES" means a corporation or
corporations that, with the Company, is a member of a controlled group of
corporations (as defined in Section 1563 of the Internal Revenue Code).

         2. PURPOSE. The purpose of the Plan is to give Eligible Directors and
Eligible Employees of the Company and its Subsidiaries an opportunity to acquire
shares of Common

<PAGE>

Stock, and to promote the best interests of the Company and enhance its
long-term performance. Once an Eligible Director or Eligible Employee is a
Participant in the Plan, his lump-sum contributions and/or payroll deductions
will be used to purchase Common Stock under the terms of the Plan during the
period of time that such Eligible Director or Eligible Employee is a
Participant. Participants shall pay no brokerage commissions or service charges
for purchases made under the Plan. The Plan is not subject to the provisions of
the Employee Retirement Income Security Act of 1974.

         3. ADMINISTRATION. The Plan shall be administered by the Company,
which, in its discretion and by action of the Board, may delegate its powers
with respect to the administration of the Plan to any person or entity. Under
the Plan, the Company shall make purchases of Common Stock as agent for the
Participants. If an Eligible Director or an Eligible Employee elects to
participate in the Plan, the Company will keep a continuous record of his
participation and send him a semi-annual statement of his account under the
Plan. The Company will also hold and act as custodian of shares of Common Stock
purchased under the Plan. This will relieve Participants of the responsibility
for the safekeeping of multiple certificates for shares purchased and protect
against loss, theft or destruction of stock certificates. Normally, certificates
for shares of Common Stock purchased under the Plan will not be issued to
Participants. The number of shares of Common Stock credited to a Participant's
account under the Plan will be shown on his statement of account. However,
certificates for any number of whole shares of Common Stock credited to a
Participant's account under the Plan will be issued to him upon his written
request to the Company, delivered to the Company's address. In addition, at the
Company's option, any time that the number of shares in a Participant's account
exceeds 50, a certificate for 50 shares may be issued to him. In either case,
any remaining shares will continue to be credited to the Participant's account.
Certificates for fractional share interests will not be issued.

         The Company reserves the right to interpret and regulate the Plan. The
Company may establish such procedures and make such other provisions for the
administration and operation of the Plan as it deems appropriate to give effect
to its purpose.

         4. ELIGIBILITY. As of November 30th of each calendar year, the Board
will designate each director and employee of the Company and its Subsidiaries
who will be an Eligible Director or Eligible Employee during the next calendar
year; provided, however, that no director shall vote with respect to his own
designation as an Eligible Director. An "Eligible Employee" must, as of such
November 30 date, be age 18 or older and have completed at least one year of
service in the employment of the Company or a Subsidiary. For this purpose, one
year of service shall mean 1,000 hours of employment.

         5. ELECTION TO PARTICIPATE. An Eligible Director or Eligible Employee
may become a Participant in the Plan during any calendar year in which he is an
Eligible Director or Eligible Employee by either of the two following methods:
(1) an Eligible Employee will become a Participant during the payroll period
following receipt by the Company of a completed Authorization Card approving
payroll deductions or (2) an Eligible Director will become a

                                      -2-

<PAGE>

Participant following receipt by the Company of a completed Authorization Card
accompanying a lump-sum contribution; provided, however, that lump-sum
contributions received by the Company at least five business days before an
Investment Date will be invested on such Investment Date in accordance with
Section 6 below, and lump-sum contributions made within five days before an
Investment Date will be invested on the next following Investment Date in
accordance with Section 6. An Eligible Director or Eligible Employee may join
the Plan at any time during any calendar year in which he is an Eligible
Director or Eligible Employee.

         6. PAYROLL DEDUCTIONS AND LUMP-SUM CONTRIBUTIONS. In order to purchase
Common Stock under the Plan by payroll deductions, an Eligible Employee must
complete an Authorization Card indicating the amount the Company is to withhold
each pay period from the Eligible Employee's paychecks during the applicable
calendar year and directing the Company to use such amounts to purchase shares
of Common Stock. Deductions may be authorized in even multiples of $5 from a
minimum of $20 per month to a maximum of $20,000 in any calendar year.

         After an Authorization Card has been received by the Company and the
authority for the payroll deductions has been noted on the Company's payroll
records, the Company will withhold from a Participant's paychecks the amount
authorized by the Participant. The withholding will be made each pay period from
the paycheck for such period. The amounts withheld from all Participants'
paychecks during each month, and any lump-sum contributions made to the Plan
within the time specified in Section 5 above, will be pooled and used to buy
shares of Common Stock for the accounts of all Participants under the Plan on
the Investment Date immediately following the date on which such payments are
made, or deemed made, to the Plan.

         The amount of a Participant's payroll deductions can be revised,
changed or terminated by the Participant at any time by written notice to the
Company and completion of a new Authorization Card. Commencement, revision or
termination of payroll deductions will become effective as soon as practicable
after a Participant's new Authorization Card is received by the Company.

         An Eligible Director may purchase Common Stock under the Plan by making
a lump-sum payment to the Plan and completing an Authorization Card, not more
frequently than once each quarter during a calendar year that he is an Eligible
Director. In no event may the aggregate amount of lump-sum contributions made to
the Plan by an Eligible Director exceed $20,000 in any calendar year.

         Authorization Cards are effective until the earliest to occur of (1)
the date the Eligible Employee or Eligible Director elects to cease
participation in the Plan, (2) the date an individual ceases to be an Eligible
Employee or an Eligible Director, or (3) the date of the termination of the
Plan. No interest will be paid on payroll deductions or lump-sum contributions
made to the Plan pending investment on an Investment Date.

         7. PURCHASE PRICE. The price of the shares bought with a Participant's
payroll

                                      -3-

<PAGE>

deductions and/or lump-sum contributions will be the bid price for the Common
Stock, as reported in the Midwest Edition of the WALL STREET JOURNAL or as
reported by ABN AMRO Chicago Corporation in the event that the WALL STREET
JOURNAL does not list such price, in each case for the Investment Date on which
the shares are purchased (or, the next preceding day if no trading occurs in the
Common Stock on the Investment Date).

         8. NUMBER OF SHARES PURCHASED. On each Investment Date, accumulated
payroll deductions and lump-sum contributions from all Participants will be
pooled and used to purchase shares of Common Stock for the accounts of the
Participants. The maximum number of whole shares shall be purchased with such
deductions and contributions. The Company shall then contribute to the Plan an
amount sufficient to supplement the total of (1) any payroll deductions and
lump-sum contributions remaining after purchase of such maximum number of whole
shares in accordance with the preceding sentence, less (2) the value of any
fractional shares remaining in the suspense account described below from the
prior Investment Date, so that an additional whole share of Common Stock can be
purchased on such Investment Date. Each Participant's account shall be credited
with his pro rata share (computed to four decimal places) of the shares of
Common Stock purchased on such Investment Date. The number of shares credited to
each Participant's account will depend on the amount of the Participant's
payroll deductions and lump-sum contributions, as the case may be, and price of
the shares determined as provided under the heading "Purchase Price." Any
fractional shares remaining after the purchase of Common Stock for Plan to
Participants shall be held in a suspense account for the benefit of the Company
and used to offset the number of shares of Common Stock needed to fill purchases
for Participants on the next Investment Date.

         9. FEES AND EXPENSES. Participants will incur no brokerage commissions
or service charges for purchases made under the Plan. Certain charges as
described under the heading "Withdrawal" may be incurred upon a Participant's
withdrawal from the Plan or upon termination of the Plan.

         10. WITHDRAWAL. A Participant may withdraw from the Plan at any time.
To withdraw from the Plan, a Participant must notify the Company in writing of
his withdrawal. In the event a Participant withdraws, or in the event of the
termination of the Plan, within a reasonable time following the withdrawal
request or the termination of the Plan, certificates for whole shares credited
to the account of the withdrawing Participant, or all Participants in the case
of a termination of the Plan, will be delivered by the Company and a cash
payment will be made for the sale price (less brokerage commission and transfer
taxes, if any) of any fractional share interest and any additional payroll
deductions or lump-sum contributions credited to the account of the withdrawing
Participant, or all Participants in the case of a termination of the Plan. The
Company may establish such equitable arrangements for the sale of fractional
share interests as it shall deem appropriate. As an alternative to receiving
certificates for whole shares, a Participant may request the Company to sell all
of the shares held in his account under the Plan. The proceeds from the sale
(less any brokerage commissions and any transfer taxes) will be remitted to him
as soon as reasonably practical after his withdrawal request is received. Sale
requests may be accumulated and sales transactions, if necessary, will occur at
least every twenty-five business days.

                                      -4-

<PAGE>

         If a request to withdraw is received by the Company at least five
business days prior to any Investment Date, the amount of the Participant's
payroll deductions and/or lump-sum contributions which would otherwise have been
invested on such Investment Date will be repaid to him as soon as practicable.
If a request to withdraw is received by the Company within five business days
prior to any Investment Date, the amount of the payroll deductions and lump-sum
contributions scheduled to be invested on such Investment Date will be so
invested. In either event, no subsequent payroll deductions will be made from
the paychecks of the Participant, and no lump sum contributions will be accepted
from the Participant, unless he completes a new Authorization Card providing for
such deductions or contributions.

         11. TERMINATION OF EMPLOYMENT OR SERVICE AS A DIRECTOR. A Participant's
participation in the Plan shall cease immediately upon his termination of
employment with the Company and its Subsidiaries for any reason, or his
termination of service on the Board or on the board of directors of a Subsidiary
for any reason. Within 60 days of a Participant's termination of employment or
service, certificates for whole shares credited to his account will be delivered
to him by the Company and a cash payment will be made to him for the sale price
(less brokerage commission and transfer taxes, if any) of any fractional share
interest and any additional payroll deduction or lump-sum contributions credited
to his account. In the event of the death of a Participant prior to receipt of
all payments and distributions to be made to him under the Plan, payments and
distributions shall be made to his beneficiary last designated by written
instrument delivered to the Company. If the Participant has not designated a
beneficiary or if the designated beneficiary is not living at such time, then
such payments and distributions shall be made to the Participant's spouse, or if
none, to his lawful descendants, per stirpes, or if none, to the legally
appointed representative of his estate.

         12. VOTING OF SHARES. Each Participant will have the authority to
direct the Company in the manner of voting the number of shares held in his
account. The shares of Common Stock in the suspense account created pursuant to
Section 8 shall be voted by the Company in its sole discretion.

         13. CASH DIVIDENDS. Cash dividends paid on shares of Common Stock
credited to a Participant's account will be paid to the Participant as soon as
practicable following the dividend payment date. Dividend amounts payable to
Participants will be rounded to the nearest whole cent in the case of fractional
share interests.

         14. STOCK DIVIDENDS, STOCK SPLITS, OR RIGHTS OFFERING. Any shares
distributed by the Company as a stock dividend on shares of Common Stock
credited to a Participant's account under the Plan, or upon any split of such
shares, will be credited to his account. In a rights offering, the Company will
sell the rights to which a Participant is entitled by virtue of the shares of
Common Stock allocated to his account under the Plan and the proceeds will be
credited to his account and applied to the purchase of shares on the next
Investment Date.

         15. AUTHORIZED SHARES. The Company has reserved 60,000 shares of Common
Stock

                                      -5-

<PAGE>

for issuance under the Plan. Unless terminated earlier by the Company, the Plan
will terminate when all such shares have been purchased by Participants. In the
event of any change in the outstanding Common Stock of the Company as a result
of a merger, reorganization, stock split, reverse stock split, stock dividend,
recapitalization, combination or reclassification appropriate proportionate
adjustments will be made in the aggregate number of shares reserved under the
Plan.

         16. AMENDMENT AND TERMINATION. Although the Company intends to continue
the Plan as long as Common Stock reserved for issuance under it remains, the
Company reserves the right to suspend, modify or terminate the Plan at any time.
Any such suspension, modification or termination shall not affect a
Participant's right to shares of Common Stock already purchased for him (except
that the Company may take any action necessary to comply with applicable law).
Upon the termination of the Plan, the Company shall return to Participants any
accumulated payroll deductions and lump-sum contributions that have not been
used to purchase Common Stock as soon as practicable. Any Common Stock held in
the suspense account created pursuant to Section 8 shall be distributed to the
Company.

         17. STATEMENTS. Each Participant will receive a semi-annual statement
of his account, reflecting all activity in the account over such period.
Participants will also receive communications sent to other stockholders,
including the Annual Report of the Company, and its Notice of Annual Meeting and
Proxy Statement. Participants will receive information necessary for reporting
income, if any, realized by them under the Plan to the Internal Revenue Service.

         18. WITHHOLDING. All taxes subject to withholding payable with respect
to the amount of each Participant's payroll deductions under the Plan will be
deducted from the Participant's salary and will not reduce the amounts to be
paid to the Company.

                                      -6-

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