Document:

Unassociated Document

    VALUE
LINE, INC.

    PROFIT
SHARING AND SAVINGS PLAN

     

    As
amended and restated

    effective
May 1, 2008

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    VALUE
LINE, INC.

    PROFIT
SHARING AND SAVINGS PLAN

     

    TABLE
OF CONTENTS

     

    
      
        
          
            	
                    PURPOSE

                  	
                    1

                  
	 
      	 
      
	
                    ARTICLE 1
      DEFINITIONS

                  	
                    2

                  
	 
      	 
      
	
                    1.01

                  	 	
                    “Account”

                  	
                    2

                  
	
                    1.02

                  	 	
                    “Administrative
      Committee”

                  	
                    2

                  
	
                    1.03

                  	 	
                    “Affiliated
      Company”

                  	
                    2

                  
	
                    1.04

                  	 	
                    “Beneficiary”

                  	
                    2

                  
	
                    1.05

                  	 	
                    “Benefit
      Commencement Date”

                  	
                    2

                  
	
                    1.06

                  	 	
                    “Board
      of Directors”

                  	
                    2

                  
	
                    1.07

                  	 	
                    “Code”

                  	
                    2

                  
	
                    1.08

                  	 	
                    “Company”

                  	
                    2

                  
	
                    1.09

                  	 	
                    “Compensation”

                  	
                    2

                  
	
                    1.10

                  	 	
                    “Eligible
      Employee”

                  	
                    3

                  
	
                    1.11

                  	 	
                    “Employee”

                  	
                    3

                  
	
                    1.12

                  	 	
                    “Employer
      Contribution”

                  	
                    3

                  
	
                    1.13

                  	 	
                    “Entry
      Date”

                  	
                    3

                  
	
                    1.14

                  	 	
                    “ERISA”

                  	
                    3

                  
	
                    1.15

                  	 	
                    “Investment
      Fund”

                  	
                    3

                  
	
                    1.16

                  	 	
                    “Member”

                  	
                    3

                  
	
                    1.17

                  	 	
                    “Normal
      Retirement Age”

                  	
                    3

                  
	
                    1.18

                  	 	
                    “Participating
      Employer”

                  	
                    4

                  
	
                    1.19

                  	 	
                    “Plan”

                  	
                    4

                  
	
                    1.20

                  	 	
                    “Plan
      Year”

                  	
                    4

                  
	
                    1.21

                  	 	
                    “Total
      Disability”

                  	
                    4

                  
	
                    1.22

                  	 	
                    “Trust
      Agreement”

                  	
                    4

                  
	
                    1.23

                  	 	
                    “Trust
      Fund”

                  	
                    4

                  
	
                    1.24

                  	 	
                    “Trustee”

                  	
                    4

                  
	
                    1.25

                  	 	
                    “Valuation
      Date”

                  	
                    4

                  
	
                    1.26

                  	 	
                    “Voluntary
      Contribution”

                  	
                    4

                  
	 
      	 	 
      	 
      
	
                    ARTICLE 2
      DEFINITIONS AND RULES FOR DETERMINING SERVICE

                  	
                    5

                  
	 
      	 
      
	
                    2.01

                  	 	
                    “Approved
      Absence”

                  	
                    5

                  
	
                    2.02

                  	 	
                    “Break
      in Service”

                  	
                    5

                  
	
                    2.03

                  	 	
                    “Eligibility
      Computation Period”

                  	
                    5

                  
	
                    2.04

                  	 	
                    “Employment
      Commencement Date”

                  	
                    5

                  
	
                    2.05

                  	 	
                    “Hours
      of Service”

                  	
                    5

                  
	
                    2.06

                  	 	
                    “Maternity
      or Paternity Leave of Absence”

                  	
                    6

                  
	
                    2.07

                  	 	
                    “Month
      of Service”

                  	
                    6

                  

          

        

      

    

    
      
         

      

      
        i

        
          

        

      

      
         

      

    

    

    
      
        
          	
                  2.08

                	 	
                  “Vesting
      Computation Period”

                	
                  6

                
	
                  2.09

                	 	
                  “Year
      of Service”

                	
                  6

                
	
                  2.10

                	 	
                  Rules
      for Crediting Service After a Break in Service

                	
                  6

                
	
                  2.11

                	 	
                  Military
      Service

                	
                  7

                
	 
      	 	 
      	 
      
	
                  ARTICLE 3
      PARTICIPATION

                	
                  8

                
	 
      	 
      
	
                  3.01

                	 	
                  Eligibility
      to Participate

                	
                  8

                
	
                  3.02

                	 	
                  Commencement
      of Participation

                	
                  8

                
	
                  3.03

                	 	
                  Break
      in Service Before Participation

                	
                  8

                
	
                  3.04

                	 	
                  Break
      in Service After Participation

                	
                  8

                
	
                  3.05

                	 	
                  Cessation
      of Participation

                	
                  8

                
	 
      	 	 
      	 
      
	
                  ARTICLE 4
      CONTRIBUTIONS

                	
                  9

                
	 
      	 
      
	
                  4.01

                	 	
                  Employer
      Contributions

                	
                  9

                
	
                  4.02

                	 	
                  Voluntary
      Contributions

                	
                  9

                
	 
      	 	 
      	 
      
	
                  ARTICLE 5
      LIMITATIONS ON CONTRIBUTIONS

                	
                  11

                
	 
      	 
      
	
                  5.01

                	 	
                  Definitions

                	
                  11

                
	
                  5.02

                	 	
                  Limitations
      on Voluntary Contributions Applicable to Highly Compensated
      Employees

                	
                  12

                
	
                  5.03

                	 	
                  Correction
      of Excess Voluntary Contribution

                	
                  13

                
	
                  5.04

                	 	
                  Limitations
      on Contributions Applicable to All Members

                	
                  13

                
	
                  5.05

                	 	
                  Reduction
      of Excess Annual Additions

                	
                  14

                
	
                  5.06

                	 	
                  Deduction
      Limitation Applicable to Employer Contributions

                	
                  15

                
	 
      	 	 
      	 
      
	
                  ARTICLE 6
      MEMBERS ACCOUNTS

                	
                  16

                
	 
      	 
      
	
                  6.01

                	 	
                  Separate
      Accounts

                	
                  16

                
	
                  6.02

                	 	
                  Contributions
      to Account

                	
                  16

                
	
                  6.03

                	 	
                  Valuation
      of Accounts

                	
                  16

                
	
                  6.04

                	 	
                  Segregated
      Accounts

                	
                  16

                
	 
      	 	 
      	 
      
	
                  ARTICLE 7
      TRUST FUND AND INVESTMENT OF ACCOUNTS

                	
                  17

                
	 
      	 
      
	
                  7.01

                	 	
                  Trust
      Fund and Trustee

                	
                  17

                
	
                  7.02

                	 	
                  Investment
      Funds

                	
                  17

                
	
                  7.03

                	 	
                  Investment
      Direction

                	
                  17

                
	 
      	 	 
      	 
      
	
                  ARTICLE 8
      VESTING AND FORFEITURE

                	
                  19

                
	 
      	 
      
	
                  8.01

                	 	
                  Voluntary
      Contribution Account

                	
                  19

                
	
                  8.02

                	 	
                  Employer
      Contribution Account

                	
                  19

                
	
                  8.03

                	 	
                  Forfeiture

                	
                  20

                
	
                  8.04

                	 	
                  Restoration
      of Forfeitures

                	
                  20

                
	
                  8.05

                	 	
                  Application
      of Forfeitures

                	
                  20

                

        

      

    

    
      
         

      

      
        ii

        
          

        

      

      
         

      

    

    

    
      
        
          	
                  8.06

                	 	
                  Change
      in Vesting Schedule

                	
                  21

                
	 
      	 	 
      	 
      
	
                  ARTICLE 9
      LOANS TO MEMBERS

                	
                  22

                
	 
      	 
      
	
                  9.01

                	 	
                  General

                	
                  22

                
	
                  9.02

                	 	
                  Eligibility
      for Loan

                	
                  22

                
	
                  9.03

                	 	
                  Minimum
      and Maximum Loan Amount

                	
                  23

                
	
                  9.04

                	 	
                  Loan
      Terms

                	
                  23

                
	
                  9.05

                	 	
                  Collateral

                	
                  24

                
	
                  9.06

                	 	
                  Treatment
      of Loan Payments

                	
                  24

                
	
                  9.07

                	 	
                  Default

                	
                  24

                
	
                  9.08

                	 	
                  Termination
      of Employment

                	
                  25

                
	 
      	 	 
      	 
      
	
                  ARTICLE 10
      DISTRIBUTIONS  PRIOR TO TERMINATION OF
EMPLOYMENT

                	
                  26

                
	 
      	 
      
	
                  10.01

                	 	
                  Withdrawals
      of Voluntary Contributions

                	
                  26

                
	
                  10.02

                	 	
                  General
      Rules Applying to Withdrawals of Voluntary Contributions

                	
                  26

                
	
                  10.03

                	 	
                  Distributions
      after Attaining Age 70-1/2

                	
                  26

                
	 
      	 	 
      	 
      
	
                  ARTICLE 11
      DISTRIBUTIONS AFTER TERMINATION OF EMPLOYMENT

                	
                  27

                
	 
      	 
      
	
                  11.01

                	 	
                  Termination
      of Employment Prior to Normal Retirement Age

                	
                  27

                
	
                  11.02

                	 	
                  Termination
      of Employment At or After Normal Retirement Age

                	
                  28

                
	
                  11.03

                	 	
                  Death

                	
                  28

                
	
                  11.04

                	 	
                  Form
      of Payment

                	
                  28

                
	
                  11.05

                	 	
                  Direct
      Transfer of Eligible Rollover Distribution

                	
                  28

                
	
                  11.06

                	 	
                  Beneficiary
      Designation

                	
                  30

                
	
                  11.07

                	 	
                  Special
      Distribution Rules

                	
                  31

                
	 
      	 	 
      	 
      
	
                  ARTICLE 12
      ADMINISTRATION

                	
                  32

                
	 
      	 
      
	
                  12.01

                	 	
                  Plan
      Administrator

                	
                  32

                
	
                  12.02

                	 	
                  Administrative
      Committee’s Authority and Powers

                	
                  32

                
	
                  12.03

                	 	
                  Delegation
      of Duties and Employment or Agents

                	
                  33

                
	
                  12.04

                	 	
                  Expenses

                	
                  33

                
	
                  12.05

                	 	
                  Compensation

                	
                  33

                
	
                  12.06

                	 	
                  Exercise
      of Discretion

                	
                  33

                
	
                  12.07

                	 	
                  Fiduciary
      Liability

                	
                  33

                
	
                  12.08

                	 	
                  Indemnification
      by Participating Employers

                	
                  34

                
	
                  12.09

                	 	
                  Plan
      Participation by Fiduciaries

                	
                  34

                
	
                  12.10

                	 	
                  Missing
      Persons

                	
                  34

                
	
                  12.11

                	 	
                  Claims
      Procedure

                	
                  34

                
	 
      	 	 
      	 
      
	
                  ARTICLE 13
      AMENDMENT AND TERMINATION OF PLAN

                	
                  36

                
	 
      	 
      
	
                  13.01

                	 	
                  Amendment

                	
                  36

                
	
                  13.02

                	 	
                  Right
      to Terminate Plan

                	
                  36

                

        

      

    

    
      
         

      

      
        iii

        
          

        

      

      
         

      

    

    

    
      
        
          	
                  13.03

                	 	
                  Consequences
      of Termination

                	
                  36

                
	 
      	 	 
      	 
      
	
                  ARTICLE 14
      PARTICIPATION BY AFFILIATED COMPANIES

                	
                  37

                
	 
      	 
      
	
                  14.01

                	 	
                  Participation

                	
                  37

                
	
                  14.02

                	 	
                  Delegation
      of Powers and Authority

                	
                  37

                
	
                  14.03

                	 	
                  Termination
      of Participation

                	
                  37

                
	 
      	 	 
      	 
      
	
                  ARTICLE 15
      TOP-HEAVY PLAN PROVISIONS

                	
                  39

                
	 
      	 
      
	
                  15.01

                	 	
                  Applicability

                	
                  39

                
	
                  15.02

                	 	
                  Definitions

                	
                  39

                
	
                  15.03

                	 	
                  Vesting
      Requirement and Schedule

                	
                  42

                
	
                  15.04

                	 	
                  Minimum
      Contribution

                	
                  42

                
	
                  15.05

                	 	
                  Compensation
      Limitation

                	
                  43

                
	 
      	 	 
      	 
      
	
                  ARTICLE 16
      GENERAL PROVISIONS

                	
                  44

                
	 
      	 
      
	
                  16.01

                	 	
                  Trust
      Fund Sole Source of Payments for Plan

                	
                  44

                
	
                  16.02

                	 	
                  Exclusive
      Benefit

                	
                  44

                
	
                  16.03

                	 	
                  Non-Alienation

                	
                  44

                
	
                  16.04

                	 	
                  Qualified
      Domestic Relations Order

                	
                  44

                
	
                  16.05

                	 	
                  Employment
      Rights

                	
                  45

                
	
                  16.06

                	 	
                  Return
      of Contributions

                	
                  45

                
	
                  16.07

                	 	
                  Merger,
      Consolidation or Transfer

                	
                  45

                
	
                  16.08

                	 	
                  Applicable
      Law

                	
                  45

                
	
                  16.09

                	 	
                  Rules
      of Construction

                	
                  45

                
	
                  16.10

                	 	
                  Provisions
      Inconsistent with Qualified Status

                	
                  46

                
	 
      	 	 
      	 
      
	
                  ARTICLE
      17

                	
                  47

                
	 
      	 
      
	
                  17.01

                	 	
                  General
      Rules

                	
                  47

                
	
                  17.02

                	 	
                  Time
      and Manner of Distribution

                	
                  47

                
	
                  17.03

                	 	
                  Required
      Minimum Distributions During Member’s Lifetime

                	
                  48

                
	
                  17.04

                	 	
                  Required
      Minimum Distributions After Member’s Death

                	
                  49

                
	
                  17.05

                	 	
                  Definitions
      for Purposes of this Article

                	
                  50

                
	
                  17.06

                	 	
                  2009
      Required Minimum Distributions

                	
                  51

                

        

      

    

    
      
         

      

      
        iv

        
          

        

      

      
         

      

    

    VALUE
LINE, INC.

    PROFIT
SHARING AND SAVINGS PLAN

     

    PURPOSE

     

    The
purpose of the Value Line, Inc. Profit Sharing and Savings Plan (the “Plan”) is
to provide eligible employees of Value Line, Inc. (the “Company”), Arnold
Bernhard & Co., Inc., Value Line Publishing, Inc., Value Line Securities,
Inc., Compupower Corporation, Value Line Distribution Center, Inc., Vanderbilt
Advertising Agency, Inc. and any Affiliated Company which adopts the Plan on
behalf of its employees with retirement income through a program of employer
contributions and employee voluntary after-tax contributions.

     

    The Plan
is intended to (1) qualify as a profit-sharing plan for purposes of Sections
401(a), 402, 412, and 417 of the Internal Revenue Code of 1996, as amended (the
“Code”), and (2) comply with the requirements of the Employee Retirement Income
Security Act of 1974, as amended.

     

    The Plan
(formerly known as the Arnold Bernhard & Co., Inc. Profit Sharing and
Savings Plan) was originally adopted by Arnold Bernhard & Co., Inc,
effective May 1, 1951.

     

    The Plan
was amended and restated effective May 1, 1976; amended effective May 1, 1978;
amended and restated effective May 1, 1982, May 1, 1983, May 1, 1984, May 1,
1985, May 1, 1989. and May 1, 2002

     

    The
Internal Revenue Service issued a favorable determination letter dated December
16, 2002 with respect to the Plan as amended and restated effective May 1,
2002.

     

    The Plan
is hereby amended and restated in its entirety, effective as of May 1, 2008
(subject to other effective dates for certain provisions, as specified herein),
to incorporate modifications required by applicable legislative and regulatory
changes, including but not limited to the Economic Growth and Tax Relief and
Reconciliation Act of 2001, the Pension Protection Act of 2006, Heroes Earnings
Assistance and Relief Tax Act of 2008, and the Worker, Retiree and Employer
Recovery Act of 2008, provided, however, that the provisions in the Plan which
set forth a different effective date shall be effective as of such different
effective date.  The rights and benefits of any Member who retired, died or
otherwise terminated employment prior to May 1, 2008 shall be determined under
the provisions of the Plan in effect at the time of the retirement, death or
termination of employment, except as otherwise required by law or as otherwise
provided in this Plan.

    
      
         

      

      
        1

        
          

        

      

      
         

      

    

    ARTICLE
1

    DEFINITIONS

     

    Wherever
used herein, the following terms shall have the following meanings:

     

    1.01        “Account” means the entire
interest of a Member in the Trust Fund and shall include the following
subaccounts:

     

    
      	
               
      

            	
              (a)

            	
              “Employer Contribution Account”
      means that portion of the Member’s Account attributable to the
      Employer Contributions made on the Member’s behalf by a Participating
      Employer and the earnings and losses
thereon.

            

    

     

    
      	
               
      

            	
              (b)

            	
              “Voluntary Contribution
      Account” means that portion of the Member’s Account attributable to
      a Member’s Voluntary Contributions, if any, and the earnings and losses
      thereon.

            

    

     

    1.02        “Administrative Committee”
means the committee appointed from time to time by the Board of Directors to
administer the Plan in accordance with Article 12.

     

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

     

    1.04        “Beneficiary” means any person
entitled to receive payment of a Member’s Account pursuant to Section 11.08 as a
result of the death of the Member.

     

    1.05        “Benefit Commencement Date”
means the first day of the first period for which a Member’s Account is payable
in the form of an annuity.

     

    
      	
              1.06

            	
              “Board of Directors”
      means the Board of Directors of Value Line,
Inc.

            

    

     

    
      	
              1.07

            	
              “Code” means the
      Internal Revenue Code of 1986, as
amended.

            

    

     

    1.08        “Company” means Value Line,
Inc. and any of its successors and assigns that elect to continue the
Plan.

     

    1.09        “Compensation” means for any
Plan Year a Member’s wages as defined in Section 3401(a) of the Code (for
purposes of income tax withholding) determined without regard to any rules that
limit remuneration included in wages based on the nature or location of the
employment or the services performed, subject to the following inclusions and
exclusions:

     

    
      	
               
      

            	
              (a)

            	
              excluding
      bonuses;

            

    

    
      
         

      

      
        2

        
          

        

      

      
         

      

    

    
      	
               
      

            	
              (b)

            	
              excluding
      (even if includible in gross income) reimbursements or other expense
      allowances, fringe benefits (cash or noncash), moving expenses, deferred
      compensation, and welfare benefits;
and

            

    

     

    
      	
               
      

            	
              (c)

            	
              excluding
      commissions earned in excess of draw, provided, however, that such
      commissions in excess of draw will be included (i) in the case of a Member
      whose total of salary plus draw (excluding bonuses) is less than $60,000
      but (ii) only to the extent that the total of a Member’s salary, draw
      and such commissions in excess of draw do not exceed
    $60,000.

            

    

     

    The
maximum amount of Compensation that may be taken into account in any Plan Year
shall not exceed the dollar limitation contained in Section 401(a)(17) of the
Code in effect as of the beginning of the Plan Year.

     

    1.10        “Eligible Employee” means any
Employee employed by a Participating Employer, but excluding

     

    
      	
               
      

            	
              (a)

            	
              any
      Employee who is covered by a collective bargaining agreement to which a
      Participating Employer is a party, and which agreement does not provide
      for participation in the Plan; and

            

    

     

    
      	
               
      

            	
              (b)

            	
              any
      Employee who is a nonresident alien and who does not receive any United
      States source income from the Company or any Affiliated
      Company.

            

    

     

    
      1.11       
“Employee”
means any
individual who is a “common-law employee” of the Company or an Affiliated
Company.  “Employee” does not include any individual who is (i) classified
by a Participating Employer as an independent contractor; (ii) being paid by or
thorough an employee leasing company or other third party agency; or (iii)
classified by the Participating Employer as a leased employee; during the period
the individual is so paid or classified, even if such individual is later
reclassified as a common law employee of the Participating Employer during all
or any part of such period pursuant to applicable law or
otherwise.

    

     

    1.12        “Employer Contribution” means
the contribution made by a Participating Employer on behalf of Members as
described in Section 4.01.

     

    
      	
              1.13

            	
              “Entry Date” means each
      April 30 and October 31.

            

    

     

    1.14        “ERISA” means the Employee
Retirement Income Security Act of 1974, as amended.

     

    1.15        “Investment Fund” means one or
more of the investment vehicles made available to Members for investment of
their Accounts pursuant to Article 7.

     

    1.16        “Member” means any Eligible
Employee or former Eligible Employee who has met the participation requirements
set forth in Article 3.

     

    
      	
              1.17

            	
              “Normal Retirement Age”
      means

            

    

     

    
      	
               
      

            	
              (a)

            	
              with
      respect to Employees hired prior to May 1, 1995, age 65;
    and

            

    

    
      
         

      

      
        3

        
          

        

      

      
         

      

    

    
      	
               
      

            	
              (b)

            	
              with
      respect to Employees hired on or after May 1, 1995, the later of age 65 or
      the completion of 5 Years of
Service.

            

    

     

    1.18        “Participating Employer” means
the Company, Arnold Bernhard & Co., Inc., Value Line Publishing, Inc., EULAV
Securities, Inc. (formerly Value Line Securities, Inc.), EULAV Asset Management,
LLC, Compupower Corporation, Value Line Distribution Center, Inc., Vanderbilt
Advertising Agency, Inc. or any Affiliated Company which is designated as a
Participating Employer by the Administrative Committee, and which has adopted
the Plan by proper corporate action.

     

    1.19        “Plan” means the Value Line,
Inc. Profit Sharing and Savings Plan.

     

    
      	
              1.20

            	
              “Plan Year” means the
      12-consecutive month period beginning each May
  1.

            

    

     

    1.21        “Total Disability” means a
Member’s total and permanent disability as determined for purposes of
entitlement to Social Security disability benefits.

     

    1.22        “Trust Agreement” means the
agreement between the Company and the Trustee under which the assets are held,
administered and managed.

     

    1.23        “Trust Fund” means all assets
under the Plan held by the Trustee.

     

    1.24        “Trustee” means any person,
bank, or such other trustee or trustees under the Trust Agreement as may be
appointed by the Company to hold, invest and disburse the funds of the
Plan.

     

    1.25        “Valuation Date” means each
business day of the Plan Year.

     

    1.26        “Voluntary Contribution” means
the voluntary after-tax contribution made to the Plan by a Member pursuant to
Section 4.02.

    
      
         

      

      
        4

        
          

        

      

      
         

      

    

    ARTICLE
2

    DEFINITIONS
AND RULES FOR DETERMINING SERVICE

     

    2.01        “Approved Absence” means an
Employee’s approved leave of absence from employment with the Company or an
Affiliated Company because of military service, illness, disability, pregnancy,
educational pursuits, service as a juror, or temporary employment with a
government agency, or other leave of absence approved by the Company or
Affiliated Company.  An Approved Absence also includes any leave of absence
in accordance with the requirements of the Family and Medical Leave Act of
1993.  The Company or Affiliated Company shall determine the first and last
days of any Approved Absence.

     

    2.02        “Break in Service” means a
Plan Year during which an Employee fails to complete more than 501 Hours of
Service with the Company or an Affiliated Company.  Solely for purposes of
determining whether an Employee has a Break in Service, Hours of Service (up to
501) shall be recognized during an Approved Absence or a Maternity or Paternity
Leave of Absence.  During such absence, (i) the Employee shall be credited
with the Hours of Service which would have been credited but for the absence,
or, if such hours cannot be determined, with eight hours per day and (ii) such
Hours of Service will be credited in the Plan Year in which the absence begins
if necessary to prevent a Break in Service or, if not necessary, in the next
following Plan Year.

     

    2.03        “Eligibility Computation
Period” means (a) the 12-consecutive month period beginning on an
Employee’s Employment Commencement Date, or (b) in the case of an Employee who
fails to complete 1,000 or more Hours of Service during his first Eligibility
Computation Period, any Plan Year commencing after the Employee’s Employment
Commencement Date.

     

    2.04        “Employment Commencement Date”
means the first day on which an Employee performs an Hour of Service for the
Company or an Affiliated Company.

     

    
      	
              2.05

            	
              “Hours of Service” means
      the following:

            

    

     

    
      	
               
      

            	
              (a)

            	
              Each
      hour for which an Employee is directly or indirectly paid, or entitled to
      payment, for the performance of duties for the Company or an Affiliated
      Company.  Each such hour shall be credited to the Employee for the
      computation period or periods in which the duties are
      performed.

            

    

     

    
      	
               
      

            	
              (b)

            	
              Each
      hour for which an Employee is directly or indirectly paid, or entitled to
      payment, by the Company or an Affiliated Company on account of a period of
      time during which no duties are performed (irrespective of whether the
      employment relationship has terminated) due to vacation, holiday, illness,
      disability, layoff, jury duty, government-required military duty, or leave
      of absence.  Each such hour shall be credited to the Employee for the
      computation period or periods in which such period occurs, subject to the
      following rules:

            

    

    
      
         

      

      
        5

        
          

        

      

      
         

      

    

    
      	
               
      

            	
              (i)

            	
              No
      more than 501 Hours of Service shall be credited under this
      paragraph (b) to an Employee on account of any single continuous
      period during which the Employee performs no duties (whether or not such
      period occurs in a single computation period),
  and

            

    

     

    
      	
               
      

            	
              (ii)

            	
              Hours
      of Service will not be credited under this paragraph (b) for which payment
      by the Company or an Affiliated Company is made or due under a plan
      maintained solely for the purpose of complying with applicable workers’
      compensation, unemployment compensation, or disability insurance laws or
      where payment solely reimburses the Employee for medical or medically
      related expenses incurred by the
Employee.

            

    

     

    
      	
               
      

            	
              (c)

            	
              Each
      hour for which back pay, irrespective of mitigation of damages, is either
      awarded or agreed to by the Company or an Affiliated Company.  The
      same Hours of Service shall not be credited both under paragraph (a) or
      paragraph (b), as the case may be, and under this paragraph (c). 
      These hours shall be credited to the Employee for the computation period
      or periods to which the award or agreement pertains rather than the
      computation period in which the award, agreement, or payment is
      made.

            

    

     

    Hours of
Service to be credited to an individual under this Section 2.05 will be
calculated and credited pursuant to Section 2530.200b-2 of the Department of
Labor Regulations which is incorporated herein by reference.

     

    2.06        “Maternity or Paternity Leave of
Absence” means an absence from work by reason of the Employee’s
pregnancy, birth of a child of the Employee, placement of a child with the
Employee in connection with adoption, or any absence for purposes of caring for
such a child for a period immediately following such birth or
placement.

     

    2.07        “Month of Service” means a
calendar month during which an Employee completes at least 83 Hours of
Service.

     

    
      	
              2.08

            	
              “Vesting Computation
      Period” means a Plan Year.

            

    

     

    2.09        “Year of Service” means a
Vesting Computation Period or, with respect to Article 3, an Eligibility
Computation Period during which an Employee completes —

     

    
      	
               
      

            	
              (a)

            	
              at
      least 1,000 Hours of Service with the Company or an Affiliated Company;
      or

            

    

     

    
      	
               
      

            	
              (b)

            	
              3
      Months of Service during the period February 1 through April 30; provided,
      however, that an Employee shall be credited with a Year of Service
      pursuant to this paragraph (b) only with respect to his first year of
      employment.  Notwithstanding the foregoing, this paragraph (b) shall
      not apply to any Employee whose Employment Commencement Date occurs on or
      after May 1, 1995.

            

    

     

    
      	
              2.10

            	
              Rules
      for Crediting Service After a Break in
Service.

            

    

     

    If a
Member is reemployed by the Company or an Affiliated Company after a Break in
Service, the following special rules shall apply in determining his Years of
Service:

    
      
         

      

      
        6

        
          

        

      

      
         

      

    

    
      	
               
      

            	
              (a)

            	
              In
      the case of a Member who is reemployed before the occurrence of
      5 consecutive Breaks in Service
—

            

    

     

    
      	
               
      

            	
              (i)

            	
              Years
      of Service completed prior to such break will not be taken into account
      unless and until the Member has completed a Year of Service following his
      reemployment; and

            

    

     

    
      	
               
      

            	
              (ii)

            	
              subject
      to Section 8.04, both pre-break and post-break Years of Service will count
      in vesting his pre-break and post-break account
  balances.

            

    

     

    
      	
               
      

            	
              (b)

            	
              In
      the case of a Member who is reemployed after the occurrence of 5 or more
      consecutive Breaks in Service (or he is reemployed prior to such
      occurrence but does not make the repayment provided for in Section 8.04)
      —

            

    

     

    
      	
               
      

            	
              (i)

            	
              separate
      Employer Contribution Accounts will be maintained to reflect the Member’s
      pre-break and post-break account balances;
and

            

    

     

    
      	
               
      

            	
              (ii)

            	
              all
      Years of Service after such Breaks in Service will be disregarded for the
      purposes of vesting in the pre-break account balance, but both pre-break
      and post-break Years of Service will count for purposes of vesting the
      account balance that accrues after such
break.

            

    

     

    
      	
              2.11

            	
              Military
      Service

            

    

     

    Notwithstanding
any provision of this Plan to the contrary, effective as of December 12, 1994,
contributions, benefits and service credit with respect to qualified military
service will be provided in accordance with Section 414(u) of the Internal
Revenue Code.   In the case of a Member who dies on or after January
1, 2007 while performing qualified military service (as such term is defined in
Code Section 414(u)), the survivors of the Member shall be entitled to any
additional benefits (other than benefit accruals relating to the period of
qualified military service) that would have been provided under the Plan had the
Member resumed employment with a Participating Employer, and then terminated
employment with the Participating Employer on account of death.

    
      
         

      

      
        7

        
          

        

      

      
         

      

    

    ARTICLE
3

    PARTICIPATION

     

    
      	
              3.01

            	
              Eligibility
      to Participate.

            

    

     

    Each
Eligible Employee who is employed by a Participating Employer shall be eligible
to participate in the Plan if he is credited with a Year of Service during an
Eligibility Computation Period.

     

    
      	
              3.02

            	
              Commencement
      of Participation.

            

    

     

    Each
Eligible Employee who meets the requirement of Section 3.01 shall become a
Member in the Plan commencing as of the first Entry Date coinciding with or next
following his completion of such requirements.

     

    
      	
              3.03

            	
              Break
      in Service Before Participation.

            

    

     

    If an
Eligible Employee incurs a Break in Service before he becomes eligible to
participate in the Plan and he later is reemployed, he shall be treated as a new
Employee at the time of his reemployment for purposes of the participation
requirements.

     

    
      	
              3.04

            	
              Break
      in Service After Participation.

            

    

     

    If an
Eligible Employee incurs a Break in Service after he becomes a Member and he
later is reemployed, he shall again become a Member in the Plan commencing on
the first day on which the Eligible Employee again performs an Hour of Service
for the Company or Participating Employer.

     

    
      	
              3.05

            	
              Cessation
      of Participation.

            

    

     

    An
individual will cease to be eligible to participate in the Plan with respect to
Employer Contributions and Voluntary Contributions as of the date (a) he ceases
to be an Eligible Employee or (b) of his termination of employment.  After
such date, he shall continue to be a Member only with respect to the allocation
of earnings, losses and expenses made in accordance with Article 6 until the
balance credited to his Account is distributed.

    
      
         

      

      
        8

        
          

        

      

      
         

      

    

    ARTICLE
4

    CONTRIBUTIONS

     

    
      	
              4.01

            	
              Employer
      Contributions.

            

    

     

    
      	
               
      

            	
              (a)

            	
              For
      each Plan Year, a Participating Employer may make Employer Contributions
      to the Trust Fund in such amount as may be determined by the
      Administrative Committee in its sole
discretion.

            

    

     

    
      	
               
      

            	
              (b)

            	
              Employer
      Contributions made for any Plan Year shall be allocated to the Employer
      Contribution Account on behalf of each Member who:  (i) is
      actively employed by a Participating Employer on the last day of the Plan
      Year and (ii) has been credited with at least 1,000 Hours of Service
      during the Plan Year.  Notwithstanding the foregoing requirements,
      Employer Contributions also shall be allocated on behalf of Members whose
      employment was terminated during the Plan Year after attaining age 65 or
      whose employment was terminated by reason of death or Total
      Disability.

            

    

     

    
      	
               
      

            	
              (c)

            	
              The
      amount of the Employer Contribution to be allocated to each eligible
      Member’s Account for a Plan Year shall be equal to the ratio that such
      Member’s Compensation for the Plan Year bears to the Compensation for all
      Members eligible for an allocation of Employer Contributions for the Plan
      Year.

            

    

     

    
      	
               
      

            	
              (d)

            	
              Employer
      Contributions made on behalf of any Member shall be subject to the
      limitations set forth in Article 5.

            

    

     

    
      	
               
      

            	
              (e)

            	
              Employer
      Contributions shall be paid by a Participating Employer in cash or other
      property to the Trust Fund not later than the due date (including
      extensions) prescribed by law for filing the Participating Employer’s
      federal income tax return for the Participating Employer’s taxable year
      for which the Employer Contributions are claimed as an income tax
      deduction.

            

    

     

    
      	
              4.02

            	
              Voluntary
      Contributions.

            

    

     

    
      	
               
      

            	
              (a)

            	
              A
      Member may make voluntary non-deductible contributions to the Plan by
      payroll deduction, lump sum cash payment, or both.  In no event shall
      a Member’s Voluntary Contributions for any Plan Year exceed 10% (effective
      for Plan Years beginning on or after May 1, 2010, 15%) of his Compensation
      for such Plan Year.

            

    

     

    
      	
               
      

            	
              (b)

            	
              A
      Member’s election to make Voluntary Contributions, or to change or suspend
      such Contributions, shall be made in the form, manner, and in accordance
      with the notice requirements, prescribed by the Administrative
      Committee.

            

    

    
      
         

      

      
        9

        
          

        

      

      
         

      

    

    
      	
               
      

            	
              (c)

            	
              Voluntary
      Contributions shall be transferred by a Participating Employer to the
      Trust Fund on the earliest date on which such contributions can reasonably
      be segregated from the Participating Employer’s general assets, but in no
      event later than the 15th business day of the month following the month in
      which (i) in the case of amounts that a Member pays to the Participating
      Employer, the contributions are received by the Participating Employer; or
      (ii) in the case of amounts withheld by the Participating Employer from
      the Member’s wages, the 15th business day of the month following the month
      in which such amounts would otherwise have been payable to the Member in
      cash, subject to any extension period permitted by ERISA, the Code or the
      regulations promulgated thereunder.

            

    

     

    
      	
               
      

            	
              (d)

            	
              Voluntary
      Contributions shall be subject to the limitations set forth in Article
      5.  The Administrative Committee may reject, amend or revoke the
      election of any Member at any time if the Administrative Committee
      determines that such change or revocation is necessary to insure that the
      limitations of Article 5 are not
exceeded.

            

    

     

    
      	
               
      

            	
              (e)

            	
              Effective
      May 1, 1995, the Plan does not permit amounts to be rolled over into the
      Plan from other eligible retirement
plans.

            

    

    
      
         

      

      
        10

        
          

        

      

      
         

      

    

    ARTICLE
5

    LIMITATIONS
ON CONTRIBUTIONS

     

    
      	
              5.01

            	
              Definitions.

            

    

     

    The
following definitions shall apply for purposes of this Article 5:

     

    
      	
               
      

            	
              (a)

            	
              “Annual
      Addition” means the sum of the following amounts allocated to a Member’s
      Account during the Limitation Year:

            

    

     

    
      	
               
      

            	
              (i)

            	
              employer
      contributions,

            

    

     

    
      	
               
      

            	
              (ii)

            	
              employee
      contributions,

            

    

     

    
      	
               
      

            	
              (iii)

            	
              forfeitures,
      and

            

    

     

    
      	
               
      

            	
              (iv)

            	
              amounts
      described in Sections 415(1)(1) and 419(A)(d)(2) of the
    Code.

            

    

     

    The
amount of a Member’s Annual Additions shall be determined without regard to the
limitations set forth in Section 5.02.

     

    
      	
               
      

            	
              (b)

            	
              “415
      Compensation” means wages as defined in Section 3401(a) of the Code and
      all other payments of compensation to an employee by his employer (in the
      course of the employer’s trade or business) for which the employer is
      required to furnish the employee a written statement under Sections
      6041(d), 6051(a)(3), 6052 of the Code.  “415 Compensation” shall
      include any elective deferral (as defined under Section 402(g)(3) of the
      Code), any amount that is contributed or deferred by the Participating
      Employer at the election of the Employee and is not includible in the
      gross income of the Employee by reason of Section 125 or 457 of the Code,
      and elective amounts that are not includible in the gross income of the
      Employee by reason of Section 132(f)(4) of the
  Code.

            

    

     

    In
addition, for purposes of applying the limitation of Code Section 415,
compensation shall exclude any amount paid after the Member’s severance from
employment with a Participating Employer, unless the amount is paid by the later
of: (i) 2 1⁄2 months after the Member’s severance from employment or (ii) the
end of the year that includes the date of the Member’s severance from employment
and such amount is (x) regular compensation for services, including overtime,
commissions, bonuses or similar payments that would have been paid to the Member
if he had continued in employment with the Participating Employer, or (y)
payment for unused accrued bona fide sick, vacation, or other leave, that the
Member would have been able to use if employment with the Participating Employer
had continued, or (z) nonqualified deferred compensation that would have been
paid to the Member at the same time if he had remained in employment with the
Participating Employer and that is includible in the Member’s gross
income.  Notwithstanding the foregoing, the preceding sentence shall not
apply to payments to an individual who does not currently perform services for a
Participating Employer by reason of qualified military service (as defined in
section 414(u) of the Code), to the extent those payments do not exceed the
amount the individual would have received had he continued t

    
      
         

      

      
        11

        
          

        

      

      
         

      

    

    

    The
maximum amount of 415 Compensation that may be taken into account in any Plan
Year shall not exceed the dollar limitation contained in Section 401(a)(17)
of the Code in effect as of the beginning of the Plan Year.

     

    
      	
               
      

            	
              (c)

            	
              “Highly
      Compensated Employee” means, subject to Section 414(q) of the Code, any
      employee of the Company or an Affiliated Company who:  (i) at
      any time during the Plan Year or the preceding Plan Year was a five
      percent owner (as defined in Code Section 416(i)(l)); or (ii) for the
      preceding Plan Year received 415 Compensation from the Company and any
      Affiliates in excess of $100,000 (or such higher adjusted amount
      prescribed by the Secretary of the
Treasury).

            

    

     

    
      	
               
      

            	
              (d)

            	
              “Limitation
      Year” means the Plan Year.

            

    

     

    
      	
               
      

            	
              (e)

            	
              “Non-highly
      Compensated Employee” means an Employee who is not a Highly Compensated
      Employee.

            

    

     

    
      	
              5.02

            	
              Limitations
      on Voluntary Contributions Applicable to Highly Compensated
      Employees.

            

    

     

    
      	
               
      

            	
              (a)

            	
              The
      Actual Contribution Percentage for Members who are Highly Compensated
      Employees for a Plan Year shall not exceed the greater
  of:

            

    

     

    
      	
               
      

            	
              (i)

            	
              the
      Actual Contribution Percentage of the Members who are Non-highly
      Compensated Employees for that Plan Year multiplied by 1.25;
      or

            

    

     

    
      	
               
      

            	
              (ii)

            	
              the
      Actual Contribution Percentage for Members who are Non-highly Compensated
      Employees for that Plan Year multiplied by 2.0, provided that the Actual
      Contribution Percentage for Members who are Highly Compensated Employees
      does not exceed the Actual Contribution Percentage for Members who are
      Non-highly Compensated Employees by more than 2 percentage
      points.

            

    

     

    
      	
               
      

            	
              (b)

            	
              “Actual
      Contribution Percentage” means, for a specified group of Members for a
      Plan Year, the average of the ratios (calculated separately for each
      Member in such group) of (i) the amount of Voluntary Contributions
      actually paid over to the trust on behalf of such Member for the Plan Year
      to (ii) the Member’s 415 Compensation for such Plan Year (whether or not
      the Employee was a Member for the entire Plan
  Year).

            

    

    
      
         

      

      
        12

        
          

        

      

      
         

      

    

    
      	
               
      

            	
              (c)

            	
              In
      the event that this Plan satisfies the requirements of Section 410(b) of
      the Code only if aggregated with one or more other plans, or if one or
      more other plans satisfies the requirements of Section 410(b) of the Code
      only if aggregated with this Plan, then this Section 5.02 shall be applied
      by determining the Actual Contribution Percentage of Members as if all
      plans were a single Plan.  For the purposes of this Section 5.02, the
      Actual Contribution Percentage for any Member who is a Highly Compensated
      Employee for the Plan Year and who is eligible to make employee
      contributions, or receives matching contributions, qualified nonelective
      contributions or elective deferrals (as such terms are defined in Section
      401(m) of the Code) allocated to his account under two or more plans
      described in Section 401(a) of the Code or arrangements described under
      Section 401(k) of the Code that are maintained by the Company or an
      Affiliated Company shall be determined as if all such contributions were
      made under a single Plan.

            

    

     

    
      	
               
      

            	
              (d)

            	
              The
      determining and treatment of the Actual Contribution Percentage shall be
      made in accordance with Section 401(m) of the Code, Section 1.401(m)-1 of
      the Treasury Regulations, and shall satisfy such other requirements as may
      be prescribed by the Secretary of the
Treasury.

            

    

     

    
      	
              5.03

            	
              Correction
      of Excess Voluntary Contribution.

            

    

     

    In the
event that the limitations set forth in Section 5.02 are exceeded for any Plan
Year, excess Voluntary Contributions with respect to a Plan Year, plus any
income or minus any loss allocable thereto, shall be distributed to Members on
whose behalf such excess contributions were made.  The amount of a Member’s
excess Voluntary Contributions shall be determined in accordance with Section
401(m)(6) of the Code and the regulations thereunder.  Such distribution
shall be made no later than the last day of the following Plan
Year.

     

    Excess
Voluntary Contributions shall be adjusted for any net earnings up to the last
day of the Plan Year in which the excess Voluntary Contributions were made and,
effective for corrective distributions of excess Voluntary Contributions made on
or after January 1, 2007 and prior to January 1, 2009, net earnings attributable
to the period between the end of the Plan Year and the date of distribution, in
accordance with applicable Treasury Regulations.  Net earnings allocable to
excess Voluntary Contributions is the net earnings allocable to the Member’s
Voluntary Contribution Account for the taxable year multiplied by a fraction,
the numerator of which is such Member’s excess Voluntary Contributions for the
year and the denominator of which is the total of the Member’s Voluntary
Contribution Account balance without regard to any income or loss occurring
during such taxable year.

     

    
      	
              5.04

            	
              Limitations
      on Contributions Applicable to All
Members.

            

    

     

    
      	
               
      

            	
              (a)

            	
              In
      no event shall the Annual Addition to a Member’s Account for any
      Limitation Year exceed the lesser
of:

            

    

     

    
      	
               
      

            	
              (i)

            	
              $40,000
      (as adjusted for increases in the cost-of-living under section 415(d) of
      the Code), or

            

    

     

    
      	
               
      

            	
              (ii)

            	
              100%
      of the Member’s 415 Compensation for the Limitation
  Year.

            

    

    
      
         

      

      
        13

        
          

        

      

      
         

      

    

    
      	
               
      

            	
              (b)

            	
              If
      a Member also is covered under another defined contribution plan, a
      welfare benefit fund (as defined in Section 419(e) of the Code), or an
      individual medical account (as defined in Section 415(1)(2) of the Code),
      maintained by an Employer, then the Annual Addition which may be credited
      to a Member’s Account under paragraph (a) above for any Limitation Year
      shall be reduced by the Annual Additions credited to the Member’s account
      under such other plans and welfare benefit funds for the same limitation
      year.

            

    

     

    
      	
               
      

            	
              (c)

            	
              Solely
      for purposes of this Section 5.04, the term “Employer” means any
      corporation which is a member of a controlled group of corporations (as
      defined in Section 414(b) of the Code as modified by Section 415(h)) which
      includes the Company; any trade or business (whether or not incorporated)
      which is under common control (as defined in Section 414(c) of the Code as
      modified by Section 414(h)) with the Company; any organization
      (whether or not incorporated) which is a member of an affiliated service
      group (as defined in Section 414(m) of the Code) which includes the
      Company; and any other entity required to be aggregated with the Company
      pursuant to regulations under Section 414(o) of the
  Code.

            

    

     

    
      	
               
      

            	
              (d)

            	
              The
      dollar and percentage limitations set forth in this Section 5.04 shall be
      adjusted for the cost of living pursuant to Section 415(d) of the
      Code.

            

    

     

    
      	
              5.05

            	
              Reduction
      of Excess Annual Additions.

            

    

     

    In the
event that the Annual Addition credited to a Member’s Account exceeds the
limitations contained in Section 5.04 of the Plan in any Limitation Year, then,
for Limitation Years beginning prior to July 1, 2007, such excess Annual
Addition shall be reduced as follows:

     

    
      	
               
      

            	
              (a)

            	
              First,
      the amount of his Voluntary Contributions shall be reduced to the extent
      that such reduction results in a reduction of the amount by which a
      Member’s Annual Addition exceeds such
  limitations.

            

    

     

    
      	
               
      

            	
              (b)

            	
              Second,
      the amount of his Employer Contributions shall be reduced to the extent
      that such reduction results in a reduction of the amount by which a
      Member’s Annual Addition exceeds such
  limitations.

            

    

     

    Any
reduction of Employer Contributions shall be held unallocated in a suspense
account and applied to reduce employer contributions in succeeding Plan Years in
accordance with Section 8.05.

     

    Notwithstanding
anything contained herein or in the Trust Agreement to the contrary, if the Plan
is terminated while there remains a balance in any suspense account, such
amounts shall be paid to the Participating Employer which contributed said
amounts.

     

    Notwithstanding
anything else in the Plan to the contrary, allocations of Annual Additions shall
be limited and reduction in excess Annual Additions shall be made in accordance
with Section 415 of the Code which is hereby incorporated by reference into
the Plan and shall control in the event of any inconsistency with any other
terms of this Plan.  Effective for Limitation Years beginning on or after
July 1, 2007, should there any excess Annual Additions to a Member’s Account,
such excess Annual Additions shall be corrected to the extent permitted by rules
set forth in Internal Revenue Service revenue rulings, notices, or other
guidance published in the Internal Revenue Bulletin.

    
      
         

      

      
        14

        
          

        

      

      
         

      

    

     

    
      	
              5.06

            	
              Deduction
      Limitation Applicable to Employer
Contributions.

            

    

     

    In no
event shall the amount of Employer Contributions for any Plan Year exceed the
amount deductible with respect to such Plan Year under Section 404 of the
Code.  In the event such Employer Contributions exceed such amount, they
shall be returned to the Participating Employer in accordance with Section 16.06
hereof.

    
      
         

      

      
        15

        
          

        

      

      
         

      

    

     

    ARTICLE
6

    MEMBERS
ACCOUNTS

     

    
      	
              6.01

            	
              Separate
      Accounts.

            

    

     

    An
Account in the Trust Fund shall be established and maintained for each
Member.  The records of each such Account shall reflect the manner in
which each Account is invested and the value of such investments, any
withdrawals by or distributions to the Member or other persons, any charges or
credits made to such Account, and such other information as the Administrative
Committee or the Trustee may deem appropriate.

     

    
      	
              6.02

            	
              Contributions
      to Account.

            

    

     

    All
contributions made by a Participating Employer on behalf of a Member or made by
a Member on his own behalf, shall be paid to the Trustee and shall be allocated
to the Member’s Account in accordance with the provisions of this
Plan.

     

    
      	
              6.03

            	
              Valuation
      of Accounts.

            

    

     

    The value
of each Member’s Account shall be determined as of each Valuation Date, at which
time the Administrative Committee shall adjust the balance of each Members’
Account to reflect any of the following which have occurred since the last
Valuation Date:

     

    
      	
               
      

            	
              (a)

            	
              contributions,
      withdrawals, distributions and other charges or credits attributable to
      the Member’s Account;

            

    

     

    
      	
               
      

            	
              (b)

            	
              the
      net earnings, gains, losses and expenses and any appreciation or
      depreciation in market value of the Investment Funds selected by the
      Member for investment of his Account;
and

            

    

     

    
      	
               
      

            	
              (c)

            	
              with
      respect to any amounts credited to the Member’s Account which are not
      invested in any of the Investment Funds, the net increase or decrease, as
      the case may be, in the value of the portion of the Trust Fund not
      invested in any of the Investment Funds due to investment earnings, gains
      or losses and any expenses of such portion of the Trust Fund, which
      adjustment shall be made in the same proportion that the balance in the
      Member’s Account not invested in any of the Investment Funds as of the
      last Valuation Date (reduced by any withdrawals, distributions or
      transfers from such Account since the last Valuation Date and by the
      principal amount of all outstanding loans to such Member) bore to the
      total balance of all Members’ Accounts not invested in any of the
      Investment Funds (as so reduced) as of such last Valuation
      Date.

            

    

     

    
      	
              6.04

            	
              Segregated
      Accounts.

            

    

     

    The
Administrative Committee may direct the Trustee to establish a segregated
account and to transfer to such segregated account the balance of the Account of
any Member who pursuant to Article 11 has elected to defer distribution or to
receive distribution in installments.  The Trustee shall invest such
segregated accounts in such Investment Fund(s) or other investment vehicles as
may be selected by the Administrative Committee.

    
      
         

      

      
        16

        
          

        

      

      
         

      

    

    ARTICLE
7

    TRUST
FUND AND INVESTMENT OF ACCOUNTS

     

    
      	
              7.01

            	
              Trust
      Fund and Trustee.

            

    

     

    The
Administrative Committee may enter into a Trust Agreement or Agreements with a
Trustee or Trustees to establish a Trust Fund under the Plan.  Any
Trust Agreement is designated as, and shall constitute, a part of this Plan and
all rights which may accrue to any person under the Plan shall be subject to the
terms and conditions of such Trust Agreement.  The Administrative
Committee may modify the Trust Agreement from time to time to accomplish the
purposes of the Plan.

     

    
      	
              7.02

            	
              Investment
      Funds.

            

    

     

    
      	
               
      

            	
              (a)

            	
              The
      Administrative Committee shall select such investment vehicles as it
      determines appropriate to meet the requirements of Section 404(c) of ERISA
      and the regulations thereunder relating to the investment of Members’
      Accounts at the direction of the Members.  Such investment
      vehicles may include mutual funds from the Value Line family of
      funds.  The Administrative Committee may select such additional
      investment vehicles as it determines appropriate for the investment of
      Members’ Accounts.

            

    

     

    
      	
               
      

            	
              (b)

            	
              The
      Administrative Committee may prescribe such rules and restrictions on the
      investment of Members’ Accounts in any such investment vehicle as it deems
      appropriate.

            

    

     

    
      	
               
      

            	
              (c)

            	
              In
      the event that the fees of any investment manager or investment advisor
      are attributable to a particular investment vehicle, the Administrative
      Committee may, in its discretion, determine how such expenses shall be
      allocated among Members’ Accounts.

            

    

     

    
      	
              7.03

            	
              Investment
      Direction.

            

    

     

    
      	
               
      

            	
              (a)

            	
              The
      Administrative Committee, or its designees, shall provide Members with
      such information and materials with respect to the Investment Funds as may
      be required by Section 404(c) of
ERISA.

            

    

     

    
      	
               
      

            	
              (b)

            	
              A
      Member shall have the right to direct the Administrative Committee to
      invest his Account in any of the Investment Funds designated for
      participant investment in accordance with Section 7.02 of the
      Plan.  A Member’s investment direction (or any change in his
      investment direction) shall be made in the manner and in such form as the
      Administrative Committee shall
direct.

            

    

     

    
      	
               
      

            	
              (c)

            	
              A
      Member’s investment election (or any change in his investment election)
      shall be made in increments of 1
percent.

            

    

     

    
      
         

      

      
        17

        
          

        

      

      
         

      

    

    
      	
               
      

            	
              (d)

            	
              A
      Member’s investment election shall remain in effect until the Member
      properly files a change of election with the Administrative
      Committee.

            

    

     

    
      	
               
      

            	
              (e)

            	
              In
      the event that any Member shall not have directed the investment of all or
      a portion of the balance in his account at any time, the Member shall be
      deemed to have directed that such balance be invested in such default
      Investment Fund as selected by the Administrative Committee, and such assets
      shall remain in such Investment Fund until such time as the Member directs
      otherwise.

            

    

     

    
      	
               
      

            	
              (f)

            	
              A
      Member may change his investment election with respect to existing
      investments, new contributions, or both, effective as of any business
      day.  Such change must be made in writing or in accordance with
      such other methods as may be established by the Administrative Committee
      in accordance with the requirements of Section 404(c) of ERISA and shall
      be effective as soon as administratively practicable following the
      election.

            

    

     

    
      
         

      

      
        18

        
          

        

      

      
         

      

    

    ARTICLE
8

    VESTING
AND FORFEITURE

     

    
      	
              8.01

            	
              Voluntary
      Contribution Account.

            

    

     

    A
Member’s interest in his Voluntary Contribution Account shall be fully vested
and nonforfeitable at all times.

     

    
      	
              8.02

            	
              Employer
      Contribution Account.

            

    

     

    
      	
               
      

            	
              (a)

            	
              Upon
      a Member’s Total Disability, death, or attainment of his Normal Retirement
      Age while an Employee, his interest in his Employer Contribution Account
      shall be fully vested and
nonforfeitable.

            

    

     

    
      (b)

    

     

    
      	
               
      

            	
              (i)

            	
              If
      a Member who has not performed one Hour of Service after April 30, 2007
      terminates employment before attaining his Normal Retirement Age for any
      reason other than Total Disability or death, his vested interest in his
      Employer Contribution Account shall be determined in accordance with the
      following schedule:

            

    

     

    
      
        
          
            
              	
                      
                        Completed Years of Service

                      

                    	         	
                      
                        Vested Interest

                      

                    	 
	 
      	 	 	 
	
                      Less
      than 3

                    	 	 	0	%
	
                      3

                    	 	 	20	%
	
                      4

                    	 	 	40	%
	
                      5

                    	 	 	60	%
	
                      6

                    	 	 	80	%
	
                      7
      or more

                    	 	 	100	%

            

          

        

      

    

    

     

    
      	
               
      

            	
              (ii)

            	
              If
      a Member who has performed at least one Hour of Service after April 30,
      2007 terminates employment before attaining his Normal Retirement Age for
      any reason other than Total Disability or death, his vested interest in
      his Employer Contribution Account shall be determined in accordance with
      the following schedule:

            

    

     

    
      
        
          	
                  
                    Completed Years of Service

                  

                	         	
                  
                    Vested Interest

                  

                	 
	 
      	 	 	 
	
                  Less
      than 2

                	 	 	0	%
	
                  2

                	 	 	20	%
	
                  3

                	 	 	40	%
	
                  4

                	 	 	60	%
	
                  5

                	 	 	80	%
	
                  6
      or more

                	 	 	100	%

        

      

    

    
      
         

      

      
        19

        
          

        

      

      
         

      

    

     

    
      	
              8.03

            	
              Forfeiture.

            

    

     

    If an
Employee terminates employment and receives (or is deemed to receive) a
distribution of his entire vested Account balance, then the nonvested portion of
his Employer Contribution Account will be treated as a
forfeiture.  For purposes of this Section 8.03, if the value of a
Member’s vested Account balance is zero, then such Member shall be deemed to
have received a distribution of his entire vested Account balance as of the date
of his termination of employment.

     

    If an
Employee terminates employment and does not receive a distribution of his entire
vested Account balance, then the nonvested portion of his Employer Contribution
Account will be treated as a forfeiture after he incurs five consecutive Breaks
in Service following the termination of employment.

     

    
      	
              8.04

            	
              Restoration
      of Forfeitures.

            

    

     

    
      	
               
      

            	
              (a)

            	
              In
      the case of a Member who received a distribution of his entire vested
      Account balance under the Plan and who is rehired by a Participating
      Employer in employment covered under the Plan, then the amount forfeited
      pursuant to Section 8.03 shall be restored if the Eligible Employee repays
      the full amount of the distribution before the earlier
  of:

            

    

     

    
      	
               
      

            	
              (i)

            	
              5
      years after the first date on which the Member is subsequently reemployed;
      or

            

    

     

    
      	
               
      

            	
              (ii)

            	
              the
      date the Member incurs 5 consecutive Breaks in Service following the date
      of the distribution.

            

    

     

    
      	
               
      

            	
              (b)

            	
              In
      the case of a Member who is deemed to have received a distribution of his
      entire, vested interest under the Plan and who is rehired by a
      Participating Employer, then the amount forfeited pursuant to Section 8.03
      shall be restored if the Member again is rehired by the Participating
      Employer before the date on which he incurs 5 consecutive Breaks in
      Service.

            

    

     

    
      	
               
      

            	
              (c)

            	
              A
      Member who is reemployed by an Affiliated Company after the occurrence of
      5 consecutive Breaks in Service shall not have any restoration rights with
      respect to the previously forfeited balance in his Employer Contribution
      Account.

            

    

     

    
      	
              8.05

            	
              Application
      of Forfeitures.

            

    

     

    
      	
               
      

            	
              (a)

            	
              Forfeitures
      of Employer Contributions shall be used to pay Plan expenses or reduce the
      amount of Employer Contributions which are to be made by the Participating
      Employer for the following Plan
Year.

            

    

     

    
      	
               
      

            	
              (b)

            	
              If
      an amount must be restored to a reemployed Member’s Employer Contribution
      Account in accordance with Section 8.04, such restoration shall be made,
      as directed by the Administrative Committee, from forfeitures attributable
      to, or net income of the Trust which would otherwise be allocated to
      Members employed by such Participating Employer, and/or from a
      contribution made by such Participating Employer for that
      purpose.

            

    

     

    
      
         

      

      
        20

        
          

        

      

      
         

      

    

    
      	
              8.06

            	
              Change
      in Vesting Schedule.

            

    

     

    If the
Plan’s vesting schedule is amended, or the Plan is amended in any way that
directly or indirectly affects the calculation of a Member’s vested interest in
his Employer Contribution Account, or if the Plan is deemed amended by an
automatic change to or from the top-heavy vesting schedule, each Member with at
least 3 Years of Service may elect to have his vested interest calculated under
the Plan without regard to such amendment or change.  A Member’s
election under this section must be made during the period beginning with the
date the amendment is adopted or deemed to be made and ending on the latest
of:

     

    
      	
               
      

            	
              (a)

            	
              60
      days after the amendment is
adopted;

            

    

     

    
      	
               
      

            	
              (b)

            	
              60
      days after the amendment becomes effective;
or

            

    

     

    
      	
               
      

            	
              (c)

            	
              60
      days after the Member is issued written notice of the amendment by the
      Administrative Committee.

            

    

     

    
      
         

      

      
        21

        
          

        

      

      
         

      

    

    ARTICLE
9

    LOANS
TO MEMBERS

     

    
      	
              9.01

            	
              General.

            

    

     

    The
Administrative Committee shall prescribe the terms and conditions for making
loans to Members from their Accounts consistent with the provisions of this
Article and the prohibited transaction exemption requirements of the Code and
ERISA and other applicable law.

     

    
      	
              9.02

            	
              Eligibility
      for Loan.

            

    

     

    A Member
who meets the following requirements shall be eligible to receive a loan from
the Plan:

     

    
      	
               
      

            	
              (a)

            	
              The
      Member must be actively employed by a Participating Employer and must have
      completed at least 5 Years of
Service.

            

    

     

    
      	
               
      

            	
              (b)

            	
              The
      Member must establish to the satisfaction of the Administrative Committee
      that a loan is needed to meet an immediate and heavy financial need caused
      by a serious illness, accident, or catastrophe incurred
  by

            

    

     

    
      	
               
      

            	
              (i)

            	
              the
      Member, or

            

    

     

    
      	
               
      

            	
              (ii)

            	
              any
      of the following individuals if the individual received over one-half of
      their support from the Member for the entire twelve month-period prior to
      the date on which such loan is
requested:

            

    

     

    
      	
               
      

            	
              (A)

            	
              the
      Member’s spouse, if living with the
Member,

            

    

     

    
      	
               
      

            	
              (B)

            	
              the
      Member’s sons and daughters, both natural and legally
    adopted,

            

    

     

    
      	
               
      

            	
              (C)

            	
              the
      Member’s parents or grandparents,
or

            

    

     

    
      	
               
      

            	
              (D)

            	
              the
      Member’s brothers or sisters, provided that their principal place of
      residence prior to the date that the loan is requested is the Member’s
      household.

            

    

     

    Such
immediate and heavy financial need also may include the need to pay tuition and
related educational fees for the next 12 months of post-secondary education for
the Member’s children (both natural and legally adopted).  Effective
for Plan Years beginning on or after May 1, 2010, such immediate and heavy
financial need also may include the need (1) to pay tuition and related
educational fees for the next 12 months of post-secondary education for the
Member, or the Member’s spouse, children (both natural and legally adopted), or
dependents (as defined in Section 152 of the Code, without regard to Section
152(b)(1), (b)(2) or (d)(1)(B)), (2) to pay expenses directly related to the
purchase of a principal residence for the Member (not including mortgage
payments), (3) to make payments necessary to prevent the eviction of the
Memberber from the Member's principal residence or foreclosure of the mortgage
on the Member's principal residence, or (4) to pay for the repair of
damage to the Member's principal residence that would qualify for the casualty
deduction under Section 165 of the Code (determined without regard to whether
the loss exceeds 10% of adjusted gross income).

    
      
         

      

      
        22

        
          

        

      

      
         

      

    

    The
Member must demonstrate that such need cannot be met by other reasonably
available financial resources of the Member.  The Administrative
Committee may require such assurances and certifications as it may deem
necessary to determine whether the Member has an immediate and heavy financial
need.

     

    Notwithstanding
the preceding, a Member who has an outstanding Plan loan is not eligible to
obtain another Plan loan, except in the case of refinancing the initial loan,
subject to the limitations of Section 72(p) of the Code.

     

    
      	
              9.03

            	
              Minimum
      and Maximum Loan Amount.

            

    

     

    The
minimum amount of any loan shall be $1,000.  In no event shall any
loan made pursuant to this Article 9 be in an amount which would cause the
outstanding aggregate balance of all loans made to the Member under this Plan
and all other qualified plans maintained by the Company or any Affiliated
Company to exceed the lesser of (a) or (b):

     

    
      	
               
      

            	
              (a)

            	
              $50,000
      reduced by the excess (if any) of

            

    

     

    
      	
               
      

            	
              (i)

            	
              the
      highest outstanding balance of loans from the Plan to the Member during
      the one-year period ending on the day before the date the loan is made,
      over

            

    

     

    
      	
               
      

            	
              (ii)

            	
              the
      outstanding balance of loans from the Plan to the Member on the date the
      loan is made; or

            

    

     

    
      	
               
      

            	
              (b)

            	
              50%
      of the current balance of the vested portion of the Member’s Employer
      Contribution Account, determined as of the most recent Valuation Date
      occurring prior to the date on which the loan is
  made.

            

    

     

    
      	
              9.04

            	
              Loan
      Terms.

            

    

     

    Loans
shall be made to Members in accordance with the following terms:

     

    
      	
               
      

            	
              (a)

            	
              A
      loan to a Member shall be made on loan application forms designated by the
      Administrative Committee and shall be evidenced by the Member’s recourse
      promissory note in the form prescribed by the Administrative
      Committee.

            

    

     

    
      	
               
      

            	
              (b)

            	
              The
      period for repayment of a loan shall not exceed 5
  years.

            

    

     

    
      	
               
      

            	
              (c)

            	
              The
      annual interest rate on loans will be One Percent plus the Prime Lending
      Rate stated in the Money Rates section of The Wall Street
      Journal on the first business day of the month in which the loan
      application is approved by the Administrative
  Committee.

            

    

     

    
      
         

      

      
        23

        
          

        

      

      
         

      

    

    
      	
               
      

            	
              (d)

            	
              Loan
      repayments of principal and interest shall be amortized in level payments
      payable each payroll period over the term of the loan and, for Employees,
      shall be made by payroll deduction; provided, that a Member who is on an
      approved leave of absence shall continue to repay the loan through monthly
      payments of principal and interest due on the first day of each
      month.  Loan repayments shall commence with the first full pay
      period following the date on which the loan is
  received.

            

    

     

    
      	
               
      

            	
              (e)

            	
              Partial
      or full loan prepayments may be made at any time, provided that the
      minimum prepayment must be at least $1,000 or, if smaller, the outstanding
      balance of the loan.  Partial prepayments will first be credited
      against accrued interest and then against outstanding principal on the day
      the prepayment is received.

            

    

     

    
      	
              9.05

            	
              Collateral.

            

    

     

    Notwithstanding
anything to the contrary in Section 16.03, a Member who accepts a Plan loan
shall be deemed to have assigned to the Trustee, as security for the loan, all
of his right, title and interest in the Plan.  The Administrative
Committee may require such additional security for the loan as it deems
necessary or prudent.

     

    No more
than 60 days prior to the use of the Member’s Account as security for a Plan
loan, the Member must obtain written spousal consent, if applicable, to such
use, which consent acknowledges the effect of the loan and is witnessed by a
plan representative designated by the Administrative Committee or a notary
public.

     

    
      	
              9.06

            	
              Treatment
      of Loan Payments.

            

    

     

    A loan
shall be considered to be an investment of the Trust Fund.  Any
payment to the Plan of interest on a loan to a Member, as well as repayments of
loan principal, shall be credited to the Member’s Account and shall be accounted
for as investment earnings or return of principal, as the case may be, on that
Account.  Members may specify the Investment Fund from which loans
shall be borrowed; provided that repayments will be invested in accordance with
the Member’s current investment selection for new contributions at the time the
repayment is made.

     

    
      	
              9.07

            	
              Default.

            

    

     

    
      	
               
      

            	
              (a)

            	
              A
      Member shall be considered to be in default if the Member (i) misses three
      consecutive scheduled monthly repayments or (ii) fails to make an
      installment payment when due and does not make that installment period by
      the last day of the calendar quarter following the calendar quarter in
      which it was due (or any shorter grace period established by the
      Administrative Committee).

            

    

     

    
      
         

      

      
        24

        
          

        

      

      
         

      

    

    
      	
               
      

            	
              (b)

            	
              If
      a loan is in default and not cured, it shall become immediately due and
      payable as of the last day of the month in which it is declared in
      default.  If the default is not cured within 30 days, in
      addition to any other remedies permitted by law, any outstanding Plan loan
      balance (including interest accrued and unpaid thereon) to the Member may
      be charged against the Member’s Account at such time as the Member is
      permitted to obtain a distribution or withdrawal from his Account under
      the terms of the Code (without regard to limitations in the Plan that are
      narrower than required by the Code and without regard to whether or not
      the Member has attained age 59-1/2 or terminated employment, and whether
      or not such charge is on account of any financial hardship of the
      Member).  The outstanding loan balance shall be treated as
      repaid to the extent of such charge.  The amount of any default
      will be treated as a “deemed distribution” within the meaning of Section
      72(p) of the Code, and shall be treated as a distribution to the extent of
      any charge against the Member’s Account.  The Plan
      Administrative Committee will have the legal rights and remedies of a
      creditor in collecting the remaining amount of any outstanding loan not
      satisfied by a charge against the Member’s
  Account.

            

    

     

    
      	
              9.08

            	
              Termination
      of Employment.

            

    

     

    The
unpaid balance of a loan shall immediately become payable in full upon a
Member’s termination of employment.  If a Member’s Account is
distributed at the time of termination, the amount distributed will be reduced
by the unpaid loan balance (including accrued interest) unless the Member repays
the loan in full.

     

    If a
Member delays distribution, the Member must repay the loan in full and must
notify the Administrative Committee in writing that he intends to do so prior to
termination of employment.  If the Member does not repay the loan at
such time, the outstanding loan balance shall be charged against the Member’s
Account in accordance with Section 9.07.

     

    
      
         

      

      
        25

        
          

        

      

      
         

      

    

    ARTICLE
10

    DISTRIBUTIONS

    PRIOR
TO TERMINATION OF EMPLOYMENT

     

    
      	
              10.01

            	
              Withdrawals
      of Voluntary Contributions.

            

    

     

    A Member
may, in the form and manner and at such times as may be prescribed by the
Administrative Committee, direct payment to himself of part or all of the
balance of his Voluntary Contribution Account.

     

    
      	
              10.02

            	
              General
      Rules Applying to Withdrawals of Voluntary
  Contributions.

            

    

     

    The
following rules shall apply to withdrawals made under this Article
10:

     

    
      	
               
      

            	
              (a)

            	
              In
      the case of a married Member who became a participant in the Plan prior to
      May 1, 1995, no payment shall be made to such Member without the written
      consent of the Member’s spouse.  Any written consent required of
      a Member’s spouse shall acknowledge the effect of the consent and shall be
      witnessed by a representative designated by the Administrative Committee
      or a notary public.  The consent of a spouse shall not be
      required if the Administrative Committee determines that the spouse cannot
      be located or that the Code and ERISA otherwise do not require such
      consent.

            

    

     

    
      	
               
      

            	
              (b)

            	
              Distribution
      of any withdrawal under this Article shall be made as soon as practicable
      following the Administrative Committee’s approval of the application for
      the withdrawal.

            

    

     

    
      	
               
      

            	
              (c)

            	
              A
      Member may not make a withdrawal from his Account more often than once in
      any Plan Year or at such other times as may be permitted pursuant to
      uniform rules prescribed by the Administrative
  Committee.

            

    

     

    
      	
               
      

            	
              (d)

            	
              Any
      withdrawal made under this Article 10 shall be at least in the amount of
      $1,000, or, if smaller, the balance credited to the Member’s Voluntary
      Contributions Account.

            

    

     

    
      	
              10.03

            	
              Distributions
      after Attaining Age 70-1/2

            

    

     

    Effective
May 1, 2010, any Participant who has attained age 70-1/2 and has not terminated
employment with the Company or an Affiliated Company may, upon request and
subject to the spousal consent requirements of Section 10.02(a), above, receive
a distribution from his or her Employer Contribution Account equal in amount to
the required minimum distribution that would have been required to be paid to
the Participant under Article 17 for the Plan Year in which the distribution is
requested , calculated as if (1) the Participant had terminated from employment
with the Company and all Affiliated Companies, and (2) the Participant’s
Employer Contribution Account was his only Account under the Plan.  A
Participant may only request one distribution per Plan Year under this Section
10.03.  If distributions under this Section 10.03 are requested with
respect to more than one Plan Year, the requesting Participant must submit a
separate application for distribution for each Plan Year.

    
      
         

      

      
        26

        
          

        

      

      
         

      

    

    ARTICLE
11

    DISTRIBUTIONS
AFTER TERMINATION OF EMPLOYMENT

     

    
      	
              11.01

            	
              Termination
      of Employment Prior to Normal Retirement
Age.

            

    

     

    In the
event a Member’s employment with the Company or an Affiliated Company terminates
before the Member attains his Normal Retirement Age for any reason other than
death, he shall be entitled to receive a distribution of the vested balance in
his Account as of the Valuation Date coincident with or next following his
termination of employment.  Effective for distributions made on or
after January 1, 2002 (for a Member who separated from employment before or
after such date) but prior to March 28, 2005, for purposes of this Section
11.01, the value of the vested balance of a Member’s Account shall be determined
without regard to that portion of the Account that is attributable to rollover
contributions (and earnings allocable thereto) within the meaning of Sections
402(c), 403(a)(4), 403(b)(8), 408(d)(3)(A)(ii), and 457(e)(16) of the
Code.

     

    
      	
               
      

            	
              (a)

            	
              If
      the vested balance of the Member’s Account does not exceed $1,000 (or
      $5,000, effective prior to March 28, 2005), distribution shall be made as
      soon as practicable after the Valuation Date next following the
      termination of employment.

            

    

     

    
      	
               
      

            	
              (b)

            	
              If
      the vested balance of a Member’s Account exceeds $1,000 (or $5,000,
      effective prior to March 28, 2005), no distribution will be made without
      the prior written consent of the Member.  If such consent is not
      given, distribution shall be made as soon as practicable following the
      earlier of:

            

    

     

    
      	
               
      

            	
              (i)

            	
              the
      date on which the Administrative Committee receives a properly completed
      distribution election form; or

            

    

     

    
      	
               
      

            	
              (ii)

            	
              as
      soon as practicable after the later of the Valuation Date following the
      Member’s attainment of his Normal Retirement Age or the expiration of the
      90-day period beginning on the date on which the Administrative Committee
      provides the notices required by Section 402(f) of the Code and Section
      1.411(a)-11(c) of the Income Tax Regulations to the
  Member.

            

    

     

    Except as
provided in the preceding sentence, if the written consent of a Member is
required by this Section, such consent must not be made (i) more than 180 days
before the Benefit Commencement Date and (ii) before the Member receives the
notice required by Section 1.411(a)-11(c) of the Income Tax Regulations, which
such notice shall be provided no less than 30 days and no more than 180 days
before the Benefit Commencement Date; provided that, if the Member, after having
received such notice, affirmatively elects a distribution, the Benefit
Commencement Date may be less than 30 days after such notice was provided,
provided the plan administrator clearly indicates to the Member that the Member
has a right to at least 30 days to consider whether to consent to the
distribution.

    
      
         

      

      
        27

        
          

        

      

      
         

      

    

    
      	
              11.02

            	
              Termination
      of Employment At or After Normal Retirement
Age.

            

    

     

    In the
event a Member’s employment with the Company or an Affiliated Company terminates
at or after the date the Member attains his Normal Retirement Age for any reason
other than death, he shall be entitled to receive a distribution of the balance
in his Account as of the Valuation Date next following his termination of
employment.  Distribution shall be made as soon as practicable
following the earlier of:

     

    
      	
               
      

            	
              (a)

            	
              the
      date on which the Administrative Committee receives a properly completed
      distribution election form; or

            

    

     

    
      	
               
      

            	
              (b)

            	
              the
      expiration of the 180-day period beginning on the date on which the
      Administrative Committee provides the notices required by Section 402(f)
      of the Code and Section 1.411(a)-11(c) of the Income Tax Regulations to
      the Member.

            

    

     

    
      	
              11.03

            	
              Death.

            

    

     

    
      	
               
      

            	
              (a)

            	
              In
      the event a Member dies before payment of his Account begins, his
      Beneficiary (as determined in accordance with Section 11.08 below) shall
      be entitled to receive distribution of the Account as of the Valuation
      Date coincident with or next following his death.  Distribution
      shall be made as soon as practicable following the earlier
    of:

            

    

     

    
      	
               
      

            	
              (i)

            	
              the
      date on which the Administrative Committee receives a properly completed
      distribution election form; or

            

    

     

    
      	
               
      

            	
              (ii)

            	
              the
      expiration of the 90-day period beginning on the date on which the
      Administrative Committee provides the notices required by Section 402(f)
      of the Code and Section 1.411(a)-11(c) of the Income Tax Regulations to
      the designated Beneficiary.

            

    

     

    
      	
              11.04

            	
              Form
      of Payment .

            

    

     

    A
Member’s Account shall be distributed to the Member or his Beneficiary in a
single lump sum payment.

     

    
      	
              11.05

            	
              Direct
      Transfer of Eligible Rollover
Distribution.

            

    

     

    This
Section applies to distributions made on or after January 1,
1993.  Notwithstanding any provision of the Plan to the contrary that
would otherwise limit a distributee’s election under this Section, a distributee
may elect, at the time and in the manner prescribed by the Administrative
Committee, to have any portion of an eligible rollover distribution paid
directly to an eligible retirement plan specified by the distributee in a direct
rollover.

    
      
         

      

      
        28

        
          

        

      

      
         

      

    

    
      	
               
      

            	
              (a)

            	
              Definitions.

            

    

     

    
      	
               
      

            	
              (i)

            	
              Eligible
      rollover distribution:  An eligible rollover distribution is any
      distribution of all or any portion of the balance to the credit of the
      distributee, except that an eligible rollover distribution does not
      include:  any distribution that is one of a series of
      substantially equal periodic payments (not less frequently than annually)
      made for the life (or life expectancy) of the distributee or the joint
      lives (or joint life expectancies) of the distributee and the
      distributee’s designated beneficiary, or for a specified period of ten
      years or more; any distribution to the extent such distribution is
      required under Section 401(a)(9) of the Code; the portion of any
      distribution that is not includible in gross income.  For
      purposes of the direct rollover provisions in this Section 11.07, and any
      amount that is distributed on account of hardship shall not be an eligible
      rollover distribution.  Notwithstanding the foregoing, a portion
      of a distribution shall not fail to be an eligible rollover distribution
      merely because the portion consists of after-tax employee contributions
      which are not includible in gross income.  However, such portion
      consisting of after-tax contributions may be transferred only to an
      individual retirement account or annuity described in Code Section 408(a)
      or (b), or to a qualified defined contribution plan described in Code
      Section 401(a) or 403(a) that agrees to separately account for amounts so
      transferred, including separately accounting for the portion of such
      distribution which is includible in gross income and the portion of such
      distribution which is not so includible.  2009 RMDs and Extended
      2009 RMDs (as such terms are defined in Section 17.06 of the Plan) will
      not be treated as eligible rollover distributions in
  2009.

            

    

     

    
      	
               
      

            	
              (ii)

            	
              Eligible
      retirement plan:  An eligible retirement plan is an individual
      retirement account described in Section 408(a) of the Code, an individual
      retirement annuity described in Section 408(b) of the Code, an annuity
      plan described in Section 403(a) of the Code, or a qualified trust
      described in Section 401(a) of the Code, that accepts the distributee’s
      eligible rollover distribution, an annuity contract described in
      Section 403(b) of the Code and an eligible plan under
      Section 457(b) of the Code which is maintained by a state, political
      subdivision of a state, or any agency or instrumentality of a state or
      political subdivision of a state and which agrees to separately
      account for amounts transferred into such plan from the
      Plan.  This definition of eligible retirement plan shall also
      apply in the case of a distribution to a surviving Spouse, or to a Spouse
      or former Spouse who is the alternate payee under a qualified
      domestic relation order, as defined in Section 414(p) of the
      Code.  Effective with respect to distributions made after
      December 31, 2007, an “eligible retirement plan” shall also mean a Roth
      IRA described in Code Section 408A.  Effective with respect to
      distributions made after December 31, 2009, in the case of an eligible
      rollover distribution to a nonspousal distributee (a ”Nonspouse
      Rollover”), an eligible retirement plan is an individual retirement
      account described in Section 408(a) of the Code or an individual
      retirement annuity described in Section 408(b) of the Code that was
      established for the purpose of receiving the distribution on behalf of
      such nonspousal distributee.  In order for such eligible
      retirement plan to accept a Nonspouse Rollover on behalf of a nonspousal
      distributee, (1) a direct trustee-to-trustee transfer must be made to such
      eligible retirement plan and shall be treated as an eligible rollover
      distribution for purposes of the Code, (2) the individual retirement plan
      shall be treated as an inherited individual retirement account or
      individual retirement annuity (within the meaning of Section 408(d)(3)(C)
      of the Code) for purposes of the Code, and (3) Section 401(a)(9)(B) of the
      Code (other than clause (iv) thereof) shall apply to such
      plan.

            

    

     

    
      
         

      

      
        29

        
          

        

      

      
         

      

    

    
      	
               
      

            	
              (iii)

            	
              Distributee:  A
      distributee includes a Member or former Member.  In addition,
      the Member or former Member’s surviving spouse and the Member or former
      Member’s spouse or former spouse who is the alternate payee under a
      qualified domestic relations order, as defined in Section 414(p) of
      the Code, are distributees with regard to the interest of the spouse or
      former spouse.  Effective with respect to distributions made
      after December 31, 2009, a distributee shall include a Member’s designated
      beneficiary who is not the Member’s spouse or former spouse (“nonspousal
      distributee”).

            

    

     

    
      	
               
      

            	
              (iv)

            	
              Direct
      rollover:  A direct rollover is a payment by the plan to the
      eligible retirement plan specified by the
  distributee.

            

    

     

    
      	
              11.06

            	
              Beneficiary
      Designation.

            

    

     

    
      	
               
      

            	
              (a)

            	
              Each
      Member may designate, in the form and manner prescribed by the
      Administrative Committee, one or more persons as the Beneficiary of his
      Account; provided, however, that if the Member is survived by a spouse,
      such spouse shall be the Member’s sole Beneficiary unless the spouse
      consents, in writing and in a form prescribed by the Administrative
      Committee, to the Member’s designation of one or more other persons to be
      the Beneficiary of all or a portion of the Member’s
      Account.  Any Beneficiary designation made by a Member may be
      changed or revoked by the Member at any time or from time to time during
      his lifetime; provided, however, that any such change or revocation shall
      not reduce the portion of the Account payable to his spouse without the
      written consent of the spouse.  Any written consent required of
      a Member’s spouse shall acknowledge the effect of the consent and shall be
      witnessed by a representative designated by the Administrative Committee
      or a notary public.  The consent of a spouse shall not be
      required if the Administrative Committee determines that the spouse cannot
      be located or that the Code and ERISA otherwise do not require such
      consent.

            

    

     

    
      	
               
      

            	
              (b)

            	
              if
      no Beneficiary is designated or survives the Member, the balance of his
      Account shall be paid to his issue per stirpes; provided, that if there is
      no surviving issue, the Account shall be paid to his
    estate.

            

    

     

    
      
         

      

      
        30

        
          

        

      

      
         

      

    

    
      	
              11.07

            	
              Special
      Distribution Rules.

            

    

     

    
      	
               
      

            	
              (a)

            	
              If
      a Member elects to have his Account distributed in installments, the
      amount to be so distributed each year must be at least equal to the
      quotient obtained by dividing the Member’s benefit by the life expectancy
      of the Member and his Beneficiary.  Life expectancy and joint
      and last survivor expectancy shall be computed by the use of the return
      multiples contained in Section 1.72-9 of the Income Tax
      Regulations.  For purposes of this computation, a Member’s life
      expectancy, may be recalculated no more frequently than annually; however,
      the life expectancy of a Beneficiary, other than the Member’s spouse, may
      not be recalculated.  If the Member’s spouse is not the
      Beneficiary, the method of distribution selected must assure that at least
      50% of the present value of the amount available for distribution is paid
      within the life expectancy of the
Member.

            

    

     

    
      	
               
      

            	
              (b)

            	
              In
      the event a Member dies after the commencement of the payment of benefits
      under the Plan, the remaining portion of such benefits will continue to be
      distributed at least as rapidly as under the method of distribution being
      used prior to the Member’s death.

            

    

     

    
      	
               
      

            	
              (c)

            	
              The
      Administrative Committee may establish rules permitting a Member or
      Beneficiary who is receiving payment of benefits in installments to elect
      to have the balance of the benefits distributed in a single lump sum
      payment.

            

    

     

    
      
         

      

      
        31

        
          

        

      

      
         

      

    

    ARTICLE
12

    ADMINISTRATION

     

    
      	
              12.01

            	
              Plan
      Administrator.

            

    

     

    The
Company shall be the “Administrator” of the Plan within the meaning of Section
3(16)(A) of ERISA and the “Named Fiduciary” for purposes of Section 402(a)(2) of
ERISA.  Such duties shall be performed on behalf of the Company by a
committee which shall consist of the Chairman of the Board of Directors and such
other individuals as may be appointed by the Board of Directors.

     

    
      	
              12.02

            	
              Administrative
      Committee’s Authority and Powers.

            

    

     

    
      	
               
      

            	
              (a)

            	
              The
      Administrative Committee shall have the exclusive right and full authority
      and power, in its sole and absolute discretion, to apply, interpret,
      administer and construe the Plan and any other Plan documents and to
      decide all matters arising in connection with the operation or
      administration of the Plan.  Without limiting the generality of
      the foregoing, the Administrative Committee shall have the following
      powers and duties:

            

    

     

    
      	
               
      

            	
              (i)

            	
              To
      formulate, interpret, apply and enforce such rules, regulations and
      policies as it deems necessary or proper to administer the
      Plan;

            

    

     

    
      	
               
      

            	
              (ii)

            	
              To
      process, and approve or deny, benefit claims and rule on any benefit
      exclusions and determine the standard of proof in any
  case;

            

    

     

    
      	
               
      

            	
              (iii)

            	
              To
      interpret the Plan, its interpretation thereof to be final and conclusive
      on all persons claiming benefits under the Plan.  The
      Administrative Committee also has discretion and authority to interpret
      Plan terms to reflect the Plan sponsor's intent.  In the event
      of a scrivener's error that renders a Plan term inconsistent with the Plan
      sponsor's intent, the Plan sponsor's intent controls, and any inconsistent
      Plan term is made expressly subject to this
  requirement;

            

    

     

    
      	
               
      

            	
              (iv)

            	
              To
      take all actions and make all decisions with respect to the eligibility
      for, and the amount of, benefits payable under the
  Plan;

            

    

     

    
      	
               
      

            	
              (v)

            	
              To
      decide all questions, including legal or factual questions, relating to
      the Plan or the calculation and payment of benefits under the
      Plan;

            

    

     

    
      	
               
      

            	
              (vi)

            	
              To
      resolve and/or clarify any ambiguities, inconsistencies and omissions
      arising under the Plan or other Plan documents;
  and

            

    

     

    
      	
               
      

            	
              (vii)

            	
              To
      exercise all other powers specified in the
Plan.

            

    

     

    
      
         

      

      
        32

        
          

        

      

      
         

      

    

    
      	
               
      

            	
              (b)

            	
              All
      determinations and interpretations made by the Administrative Committee
      with respect to any matter arising under the Plan and any other Plan
      documents shall be final and binding on all affected Members (and their
      Beneficiaries) and other individuals claiming benefits under the
      Plan.  Any determination made by the Administrative Committee
      shall be given deference in the event it is subject to judicial review and
      shall be overturned only if it is arbitrary and capricious.  The
      Administrative Committee may delegate any other such duties or powers as
      it deems necessary to carry out the administration of the Plan and may
      adopt such rules for the conduct of its affairs as it deems
      appropriate.

            

    

     

    
      	
              12.03

            	
              Delegation
      of Duties and Employment or Agents.

            

    

     

    The
Administrative Committee may delegate such of its duties and may appoint such
accountants, actuaries, legal counsel, investment advisors, investment managers,
claims administrators, specialists and other persons as the Administrative
Committee deems appropriate in connection with administering the
Plan.  The Administrative Committee shall be entitled to rely
conclusively upon, and shall be fully protected in any action taken by them in
good faith in reliance upon any opinions or reports furnished them by any such
experts or other persons.

     

    
      	
              12.04

            	
              Expenses.

            

    

     

    All
expenses incurred in connection with the administration of the Plan, including,
without limitation, administrative expenses and compensation and other expenses
and charges of any person who shall be employed by the Administrative Committee
pursuant to Section 12.03, shall be paid from the Trust Fund unless paid
separately by the Participating Employers.

     

    
      	
              12.05

            	
              Compensation.

            

    

     

    No member
of the Administrative Committee who is a full-time employee of a Participating
Employer shall receive any compensation for his services as member of the
Administrative Committee.  Any expenses of the Administrative
Committee shall be paid from the Trust Fund, unless paid by the Participating
Employers.

     

    
      	
              12.06

            	
              Exercise
      of Discretion.

            

    

     

    Any
person with any discretionary power in the administration of the Plan shall
exercise such discretion in a nondiscriminatory manner and shall discharge his
duties with respect to the Plan in a manner consistent with the provisions of
the Plan and with the standards of fiduciary conduct contained in Title 1, Part
4, of ERISA.

     

    
      	
              12.07

            	
              Fiduciary
      Liability.

            

    

     

    In
administering the Plan, neither the Administrative Committee nor any member of
the Administrative Committee nor any person to whom the Administrative Committee
delegates any duty or power in connection with administering the Plan shall be
liable, except as required by ERISA or in the case of his own willful
misconduct, for:

     

    
      	
               
      

            	
              (a)

            	
              any
      action or failure to act,

            

    

     

    
      	
               
      

            	
              (b)

            	
              the
      payment of any amount under the
Plan,

            

    

     

    
      
         

      

      
        33

        
          

        

      

      
         

      

    

     

    
      	
               
      

            	
              (c)

            	
              any
      mistake of judgment made by him or on his behalf,
  or

            

    

     

    
      	
               
      

            	
              (d)

            	
              any
      omission or wrongdoing of any member of the Administrative
      Committee.  No member of the Administrative Committee shall be
      personally liable under any contract, agreement, bond, or other instrument
      made or executed by him or on his behalf as a member of the Administrative
      Committee.

            

    

     

    
      	
              12.08

            	
              Indemnification
      by Participating Employers.

            

    

     

    To the
extent not compensated by insurance or otherwise, the Participating Employers
shall indemnify and hold harmless each person and each member of the
Administrative Committee, and each employee of a Participating Employer
designated by the Administrative Committee to carry out fiduciary responsibility
with respect to the Plan from any and all claims, losses, damages, expenses
(including reasonable counsel fees approved by the Company) and liabilities
(including any amount paid in settlement with the approval of the Company),
arising from any act or omission of such member, except where the same is
judicially determined to be due to willful misconduct of such member or
employee.  Anything herein to the contrary notwithstanding, no assets
of the Plan may be used for any such indemnification.

     

    
      	
              12.09

            	
              Plan
      Participation by Fiduciaries.

            

    

     

    No person
who is a fiduciary with respect to the Plan shall be precluded from being a
Member therein upon satisfying the requirements for eligibility.

     

    
      	
              12.10

            	
              Missing
      Persons.

            

    

     

    If the
Administrative Committee is unable to locate a Member or Beneficiary within five
(5) years after an Account becomes payable, the Administrative Committee shall
take reasonable efforts required by ERISA to locate such individual, and, if
such individual is not located, the Administrative Committee shall, to the
extent permitted by ERISA and the Code, direct that the amount of such Account
shall be treated as a forfeiture for the current Plan Year; provided, however,
that in the event of the subsequent reappearance of such Member or Beneficiary
prior to the termination of the Plan, such forfeiture shall be restored to such
Account.

     

    
      	
              12.11

            	
              Claims
      Procedure.

            

    

     

    
      	
               
      

            	
              (a)

            	
              All
      claims for benefits under the Plan by a Member or his Beneficiary with
      respect to benefits not received by such person shall be made in writing
      to the Administrative Committee, which shall review such
      claims.  A decision regarding the claim will be made by the
      Administrative Committee within ninety (90) days from the date the claim
      is received by the Administrative Committee, unless it is determined that
      special circumstances require an extension of time for processing the
      claim, not to exceed an additional ninety (90) days.  If such an
      extension is required, written notice of the extension will be furnished
      to the claimant prior to expiration of the initial 90-day
      period.  The notice of extension will indicate the special
      circumstances requiring the extension of time and the date by which the
      Administrative Committee expects to make a determination with respect to
      the claim.  If the extension is required due to the claimant’s
      failure to submit information necessary to decide the claim, the period
      for making the determination will be tolled from the date on which the
      extension notice is sent to the claimant until the date on which the
      claimant responds to the Plan’s request for
  information.

            

    

     

      
        
           

        

        
          34

          
            

          

        

        
           

        

      
 

    
      	
               
      

            	
              (b)

            	
              A
      claimant whose application for benefits under the Plan has been denied, in
      whole or in part, will be provided with written notice of the
      determination, setting, forth:  (i) the specific reason(s) for
      the adverse benefit determination, with references to the specific Plan
      provisions on which the determination is based; (ii) a description of
      any additional material or information necessary for the claimant to
      perfect the claim (including an explanation as to why such material or
      information is necessary); and (iii) a description of the Plan’s review
      procedures and the applicable time limits, as well as a statement of the
      claimant’s right to bring a civil action under ERISA following an adverse
      benefit determination on review.

            

    

     

    
      	
               
      

            	
              (c)

            	
              If
      an adverse benefit determination is made by the Administrative Committee,
      the claimant (or his/her authorized representative) may request a review
      of the determination.  All requests for review must be sent in
      writing to the Administrative Committee within sixty (60) days after
      receipt of the notice of denial or other adverse benefit
      determination.  In connection with the request for review, the
      claimant (or his duly authorized representative) may submit written
      comments, documents, records, and other information relating to the
      claim.  In addition, the claimant will be provided, upon written
      request and free of charge, with reasonable access to (and copies of) all
      documents, records, and other information relevant to the
      claim.  The review by the Administrative Committee will take
      into account all comments, documents, records, and other information
      submitted by the claimant relating to the
claim.

            

    

     

    
      	
               
      

            	
              (d)

            	
              A
      decision on review will be made by the Administrative Committee within
      sixty (60) days after receipt of the claimant’s request for review, unless
      the Administrative Committee determines that special circumstances require
      an extension of time for processing the request for review, in which case
      the decision will be made within an additional sixty (60)
      days.  The claimant will be notified in advance of any such
      extension.  The notice will describe the special circumstances
      requiring the extension, and will inform the claimant of the date as of
      which the determination will be made.  If the extension is
      required due to the claimant’s failure to submit information necessary to
      decide the claim, the period for making the determination will be tolled
      from the date on which the extension notice is sent to the claimant until
      the date on which the claimant responds to the Plan’s request for
      information.

            

    

     

    
      	
               
      

            	
              (e)

            	
              The
      claimant will be notified in writing of the determination on
      review.  If an adverse benefit determination is made on review,
      the notice will include:  (i) the specific reason(s) for the
      determination, with references to the specific Plan provisions on which it
      is based; (ii) a statement that the claimant is entitled to receive, upon
      request and free of charge, reasonable access to (and copies of) all
      documents, records and other information relevant to the claim; and (iii)
      a statement of the claimant’s right to bring a civil action under Section
      502(a) of ERISA.  The decision of the Administrative Committee
      on review shall be final and binding on all
  parties.

            

    

    

      
        
           

        

        
          35

          
            

          

        

        
           

        

      

    

     

    ARTICLE
13

    AMENDMENT
AND TERMINATION OF PLAN

     

    
      	
              13.01

            	
              Amendment.

            

    

     

    The
Company may at any time and from time to time amend the Plan by action of the
Administrative Committee without the consent of any Trustee, any other
Participating Employer, or any Member or Beneficiary.

     

    Notwithstanding
the foregoing:

     

    
      	
               
      

            	
              (a)

            	
              no
      amendment that materially affects the Trustee’s duties shall be effective
      without the written consent of the
Trustee;

            

    

     

    
      	
               
      

            	
              (b)

            	
              no
      amendment shall cause the Trust Fund to be used other than for the
      exclusive benefit of Members and their Beneficiaries;
  and

            

    

     

    
      	
               
      

            	
              (c)

            	
              no
      amendment shall eliminate or reduce a “Section 411(d)(6) Protected
      Benefit” within the meaning of Section 1.41 l(d)-4 of the Income Tax
      Regulations except to the extent permitted by Section 411(d)(6) of the
      Code and the regulations
thereunder.

            

    

     

    
      	
              13.02

            	
              Right
      to Terminate Plan.

            

    

     

    The
Company intends to maintain the Plan as a permanent tax-qualified retirement
plan.  Nevertheless, the Company reserves the right to terminate the
Plan (in whole or in part) at any time and from time to time, by action of the
Administrative Committee, without the consent of any Trustee, any other
Participating Employer, or any Member or Beneficiary.

     

    
      	
              13.03

            	
              Consequences
      of Termination.

            

    

     

    
      	
               
      

            	
              (a)

            	
              If
      the Plan is terminated in whole or in part, the interest of each Member
      affected by the termination in his Account will become fully vested and
      nonforfeitable as of the date of the
  termination.

            

    

     

    
      	
               
      

            	
              (b)

            	
              If
      the Plan is terminated in whole or in part, the Administrative Committee
      shall determine the date and manner of distribution of all Members’
      Accounts.

            

    

     

    
      	
               
      

            	
              (c)

            	
              The
      Administrative Committee shall give prompt notice to each Member (or, if
      deceased, his Beneficiary) affected by the Plan’s complete or partial
      termination.

            

    

    
      
         

      

      
        36

        
          

        

      

      
         

      

    

    ARTICLE
14

     

    PARTICIPATION
BY AFFILIATED COMPANIES

     

    
      	
              14.01

            	
              Participation.

            

    

     

    Subject
to the consent of the Administrative Committee, an Affiliated Company may adopt
the Plan and join in the Trust Fund created hereunder.  Such
Affiliated Company shall become a Participating Employer upon the filing with
the Administrative Committee such duly executed documents as may be required by
the Administrative Committee.  The contributions which may be made by
each Participating Employer, and the income therefrom, shall be held by the
Trustee as a part of a single Trust Fund without allocation to any Participating
Employer until the Administrative Committee shall notify the Trustee of the
termination of the plan as to any Participating Employer pursuant to Section
14.03(c).

     

    
      	
              14.02

            	
              Delegation
      of Powers and Authority.

            

    

     

    A
Participating Employer shall be deemed to appoint the Administrative Committee
as its exclusive agent to exercise on its behalf all of the powers and authority
conferred upon the Administrative Committee by the terms of the Plan including,
but not by way of limitation, the power to amend and terminate the Plan and the
Trust Fund created hereunder.  The authority of the Administrative
Committee to act as such agent shall continue with respect to all funds
contributed by each Participating Employer and the income therefrom unless and
until the amount of such funds and income has been distributed by the Trustee as
provided in Section 14.03.

     

    
      	
              14.03

            	
              Termination
      of Participation.

            

    

     

    
      	
               
      

            	
              (a)

            	
              The
      participation of any Participating Employer in the Plan shall terminate
      (i) automatically at such time that it is no longer an Affiliated
      Company, (ii) at such time as determined in the sole discretion of the
      Administrative Committee.

            

    

     

    
      	
               
      

            	
              (b)

            	
              The
      Administrative Committee shall notify the Trustee in writing of the
      termination of the Plan as to any Participating Employer, and the Trustee
      shall not accept any further contributions under the Plan from such
      Participating Employer and shall set aside in a separate account such part
      of the Trust Fund as the Administrative Committee shall, pursuant to
      paragraph (c), determine to be held for the benefit of eligible employees
      of the Participating Employer (and their beneficiaries), as of the last
      day of the Plan Year which is such Participating Employer’s termination
      date under the Plan.

            

    

     

    (c)           The
Administrative Committee shall give written directions to the Trustee with
respect to the part of the assets of the Trust Fund segregated in a separate
account pursuant to paragraph (b).  Such directions shall specify the
amount to be segregated and shall be in accordance with generally accepted
accounting principles, and, to the maximum extent consistent with ERISA, the
determination of the fair market value of the assets of the Trust Fund in the
manner provided for in the Plan shall be conclusive for the purpose of such
segregation.  The Trustee shall follow such directions of the
Administrative Committee which shall constitute a conclusive determination of
the amount which should be segregated for the benefit of the eligible employees
of such Participating Employer (and their beneficiaries).

    
      
         

      

      
        37

        
          

        

      

      
         

      

    

    
      	
               
      

            	
              (d)

            	
              The
      Trust shall continue as to any Participating Employer, despite receipt by
      the Trustee of notice of termination of the Plan as to such Participating
      Employer, for such time as may be necessary to effect such
      termination.  Upon receipt by the Trustee from the
      Administrative Committee of notice to terminate the Trust as to such
      Participating Employer, the Trustee shall, with reasonable promptness
      after receipt of such notice, arrange for the orderly distribution, in
      accordance with written instructions of the Administrative Committee which
      shall be given in conformity with the provisions of the Plan and ERISA, of
      the assets segregated with respect to such Participating Employer pursuant
      to this Article 14.

            

    

     

    
      
         

      

      
        38

        
          

        

      

      
         

      

    

    ARTICLE
15

     

    TOP-HEAVY
PLAN PROVISIONS

     

    
      	
              15.01

            	
              Applicability.

            

    

     

    If the
Plan is or becomes Top-Heavy in any Plan Year, the provisions of this Article 15
shall supersede any conflicting provisions of the Plan.

     

    
      	
              15.02

            	
              Definitions.

            

    

     

    The
following definitions shall apply for purposes of this Article 15:

     

    
      	
               
      

            	
              (a)

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

            

    

     

    
      	
               
      

            	
              (b)

            	
              “Employer” means the
      Company and all Affiliated
Companies.

            

    

     

    
      	
               
      

            	
              (c)

            	
              “Key Employee” means any
      Employee or former Employee (including a deceased Employee) of the
      Employer who at any time during the Plan Year that includes the
      Determination Date was:

            

    

     

    
      	
               
      

            	
              (i)

            	
              an
      officer of the Employer having annual compensation greater than $150,000
      (as adjusted under Section 416(i)(1) of the
  Code).

            

    

     

    
      	
               
      

            	
              (ii)

            	
              a
      5% owner; or

            

    

     

    
      	
               
      

            	
              (iii)

            	
              a
      1% owner having annual compensation from the Employer in excess of
      $150,000.

            

    

     

    For this
purpose, annual compensation means compensation within the meaning of Code
Section 415(c)(3).  The determination of who is a Key Employee will be
made in accordance with Code Section 416(i)(l) and the applicable regulations
and other guidance of general applicability issued thereunder.

     

    
      	
               
      

            	
              (d)

            	
              “Permissive Aggregation Group”
      means the Required Aggregation Group of plans plus any other plan
      or plans of the Participating Employer which, when considered as a group
      with the Required Aggregation Group, would continue to satisfy the
      requirements of Sections 401(a)(4) and 410 of the
  Code.

            

    

     

    
      	
               
      

            	
              (e)

            	
              “Required Aggregation Group”
      means (i) each qualified plan of the Participating Employer in
      which at least one Key Employee participates or participated at any time
      during the determination period (regardless of whether the plan has
      terminated), and (ii) any other qualified plan of the Participating
      Employer which enables a plan described in clause (i) to meet the
      requirements of Section 401(a)(4) or 410 of the
  Code.

            

    

    
      
         

      

      
        39

        
          

        

      

      
         

      

    

    
      	
               
      

            	
              (f)

            	
              “Top-Heavy Plan” means
      with respect to any Plan Year, this plan if any of the following
      conditions exist:

            

    

     

    
      	
               
      

            	
              (i)

            	
              If
      the Top-Heavy Ratio for this Plan exceeds 60% and this Plan is not part of
      any Required Aggregation Group or Permissive Aggregation Group of
      plans;

            

    

     

    
      	
               
      

            	
              (ii)

            	
              If
      this Plan is a part of a Required Aggregation Group of plans but not part
      of a Permissive Aggregation Group and the Top-Heavy Ratio for the group of
      plans exceeds 60%; or

            

    

     

    
      	
               
      

            	
              (iii)

            	
              If
      this Plan is a part of a Required Aggregation Group and part of a
      Permissive Aggregation Group of plans and the Top-Heavy Ratio for the
      Permissive Aggregation Group exceeds
60%.

            

    

     

    
      	
               
      

            	
              (g)

            	
              “Top-Heavy Ratio” means
      as follows:

            

    

     

    
      	
               
      

            	
              (i)

            	
              If
      the Participating Employer maintains one or more defined contribution
      plans (including any Simplified Employee Pension Plan) and the
      Participating Employer has not maintained any defined benefit plan which
      during the 5-year period ending on the Determination Date(s) has or has
      had accrued benefits, the Top-Heavy Ratio for this Plan alone or for the
      Required or Permissive Aggregation Group as appropriate is a fraction, the
      numerator of which is the sum of the account balances of all Key Employees
      as of the Determination Date(s) (including any part of any account balance
      distributed in the 5-year period ending on the Determination Date(s), and
      the denominator of which is the sum of all account balances (including any
      part of any account balance distributed in the 5-year period ending on the
      Determination Date(s), both computed in accordance with Section 416 of the
      Code and the regulations thereunder.  Both the numerator and
      denominator of the Top-Heavy Ratio are increased to reflect any
      contribution not actually made as of the determination date, but which is
      required to be taken into account on that date under Section 416 of the
      Code and the regulations
thereunder.

            

    

     

    
      	
               
      

            	
              (ii)

            	
              If
      the Participating Employer maintains one or more defined contribution
      plans (including any Simplified Employee Pension Plan) and the
      Participating Employer maintains or has maintained one or more defined
      benefit plans which during the 5-year period ending on the Determination
      Date(s) has or has had any accrued benefits, the Top-Heavy Ratio for any
      Required or Permissive Aggregation Group as appropriate is a fraction, the
      numerator of which is the sum of account balances under the aggregated
      defined contribution plan or plans for all Key Employees, determined in
      accordance with clause (i) above, and the present value of accrued benefit
      under the aggregated defined benefit plan or plans for all Key Employees
      as of the Determination Date(s), and the denominator of which is the sum
      of the account balances under the aggregated defined contribution plan or
      plans for all participants, determined in accordance with clause (i)
      above, and the present value of accrued benefits under the defined benefit
      plan or plans for all participants as of the Determination Date(s), all
      determined in accordance with Section 416 of the Code and the regulations
      thereunder.  The accrued benefits under a defined benefit plan
      in both the numerator and denominator of the Top-Heavy Ratio are increased
      for any distribution of any accrued benefit made in the five-year period
      ending on the Determination
Date.

            

    

    
      
         

      

      
        40

        
          

        

      

      
         

      

    

    
      	
               
      

            	
              (iii)

            	
              For
      purposes of clauses (i) and (ii) above, the value of account balances and
      the present value of accrued benefits will be determined as of the most
      recent Valuation Date that falls within or ends with the 12-month period
      ending on the Determination Date, except as provided in Section 416 of the
      Code and the regulations thereunder for the first and second plan years of
      a defined benefit plan.  The account balances and accrued
      benefits of a participant (A) who is not a Key Employee but who was a Key
      Employee in a prior year, or (B) who has not been credited with at least
      one Hour of Service with any Employer maintaining the plan at any time
      during the 5-year period ending on the Determination Date will be
      disregarded.  The calculation of the Top-Heavy ratio, and the
      extent to which distributions, rollovers, and transfers are taken into
      account will be made in accordance with Section 416 of the Code and the
      regulations thereunder.  Deductible employee contributions will
      not be taken into account for purposes of computing the top-heavy
      ratio.  When aggregating plans the value of account balances and
      accrued benefits will be calculated with reference to the Determination
      Dates that fall within the same calendar
year.

            

    

    

    
      	
               
      

            	
              (iv)

            	
              Notwithstanding
      the foregoing, effective May 1, 2002, this subsection  (h)(iv)
      shall apply for purposes of determining the present values of accrued
      benefits and the amounts of account balances of Employees as of the
      Determination Date.  The present value of accrued benefits and
      the amounts of account balances of an Employee shall include, to the
      extent not otherwise included, any amounts distributed to the Participant
      or the Participant’s Beneficiary during the Plan Year under the Plan and
      any plan aggregated with the Plan under Code Section 416(g)(2), during the
      1-year period ending on the Determination Date.  The preceding
      sentence shall also apply to distributions under a terminated plan which,
      had it not been terminated, would have been aggregated with the Plan under
      Code Section 416(g)(2)(A)(i).  In the case of a distribution
      made for a reason other than severance from employment, death, or
      disability, this provision shall be applied by substituting “5-year
      period” for “1-year period.”  The accrued benefit under a
      defined benefit plan or the account balance under a defined contribution
      plan with respect to any individual who has not performed services for an
      Employer maintaining the plan at any time during the 1-year period ending
      on the applicable Determination Date or with respect to a Participant who
      is not a Key Employee for a Plan Year, although such person was a Key
      Employee in a prior Plan Year, shall not be taken into
      account.

            

    

    
      
         

      

      
        41

        
          

        

      

      
         

      

    

    The
accrued benefits of a participant other than a Key Employee shall be determined
under (A) the method, if any, that uniformly applies for accrual purposes
under all defined benefit plans maintained by the Participating Employer, or (b)
if there is no such method, as if such benefits accrued not more rapidly than
the slowest accrual rate permitted under the fractional rule of Section 411(b)
(1)(C) of the Code.

     

    
      	
              15.03

            	
              Vesting
      Requirement and Schedule.

            

    

     

    
      	
               
      

            	
              (a)

            	
              For
      any Plan Year during which the Plan is a Top-Heavy Plan, the following
      Vesting Schedule shall apply to any Member who has been credited with an
      Hour of Service after the Plan initially became a Top-Heavy
      Plan:

            

    

     

    
      
        
          	
                  
                    Years of Service

                  

                	 	
                  
                    Vested Interest

                  

                	 
	
                  Less
      than 2 years

                	 	 	0	%
	
                  2

                	 	 	20	%
	
                  3

                	 	 	40	%
	
                  4

                	 	 	60	%
	
                  5

                	 	 	80	%
	
                  6
      or more

                	 	 	100	%

        

      

    

     

    
      	
               
      

            	
              (b)

            	
              If
      the Plan ceases to be a Top-Heavy Plan, such change shall be considered to
      be an amendment of the vesting schedule which is subject to the election
      requirements in Section 8.06.  In no event may a Member’s vested
      interest be decreased as a result of a change in the Plan’s
      status.

            

    

     

    
      	
              15.04

            	
              Minimum
      Contribution.

            

    

     

    
      	
               
      

            	
              (a)

            	
              If
      a Member is a non-Key Employee on the last day of a Top-Heavy Plan Year,
      and is not a participant in any other plan maintained by a Participating
      Employer that provides him with such a minimum contribution or with a
      comparable minimum accrual, the total of the employer contribution
      allocated to such Member’s Account for such Top-Heavy Plan Year shall not
      be less than 3% of his Compensation for the Top-Heavy Plan Year, the
      Participating Employer has no defined benefit plan which designates the
      Plan to satisfy Section 401(a)(4) or Section 410 of the Code and the
      highest percentage obtained by dividing the sum of the employer
      contribution made for the benefit of each Key Employee by the Key
      Employee’s Compensation for such Year is less than 3%, such highest
      percentage shall be substituted therefor in the preceding
      clause.

            

    

     

    
      	
               
      

            	
              (b)

            	
              In
      the event a Member who is a non-Key Employee is covered under both a
      defined contribution plan and a defined benefit plan maintained by a
      Participating Employer, notwithstanding anything herein to the contrary,
      the minimum contribution or benefit required by this Section 15.04 and by
      Section 416 of the Code shall be deemed satisfied if any one of the
      following rules are satisfied:

            

    

     

    
      
         

      

      
        42

        
          

        

      

      
         

      

    

    
      	
               
      

            	
              (i)

            	
              each
      such Member receives the defined benefit minimum as specified in Section
      416(c)(1) of the Code;

            

    

     

    
      	
               
      

            	
              (ii)

            	
              the
      defined benefit minimum (as defined in clause (i), above) is provided each
      such Member by the defined benefit plan and is offset by the benefits
      provided under the defined contribution
plan;

            

    

     

    
      	
               
      

            	
              (iii)

            	
              the
      defined contribution plan provides aggregate benefits at least comparable
      to those provided by the defined benefit plan;
  or

            

    

     

    
      	
               
      

            	
              (iv)

            	
              if
      contributions and forfeitures under the defined contribution plan equal 5%
      of the Compensation for each Top-Heavy
Plan.

            

    

     

    
      	
              15.05

            	
              Compensation
      Limitation.

            

    

     

    For any
Plan Year in which the Plan is a Top-Heavy Plan, the compensation limitation
described in Section 416(d) of the Code shall apply.

     

    
      
        
           

        

        
          43

          
            

          

        

        
           

        

      

    

    

    ARTICLE
16

     

    GENERAL
PROVISIONS

     

    
      	
              16.01

            	
              Trust
      Fund Sole Source of Payments for
Plan.

            

    

     

    The Trust
Fund shall be the sole source for the payment of all Members’ Accounts, and the
Plan’s liability to make payment to any Member or Beneficiary shall be limited
to the extent that the balance in such Member’s Account is sufficient to make
such payment.  In no event shall assets of the Participating Employers
be applied for the payment of Plan benefits.

     

    
      	
              16.02

            	
              Exclusive
      Benefit.

            

    

     

    The Plan
is established for the exclusive benefit of the Members and their Beneficiaries,
and the Plan shall be administered in a manner consistent with the provisions of
Section 401(a) of the Code and ERISA.

     

    
      	
              16.03

            	
              Non-Alienation.

            

    

     

    Except as
is permitted under Section 401(a)(13) of the Code in the case of a qualified
domestic relations order (as defined in Section 414(p) of the Code) or in
accordance with Article 10, no Member or Beneficiary shall have the right to
alienate or assign his benefits under the Plan, and no Plan benefits shall be
subject to attachment, execution, garnishment, or other legal or equitable
process.  If a Member or his Beneficiary attempts to alienate or
assign his benefits under the Plan, or if his property or estate should be
subject to attachment, execution, garnishment or other legal or equitable
process, the Administrative Committee may direct the Trustee to distribute the
Member’s (or Beneficiary’s) benefits under the Plan to members of his family, or
may use or hold such benefits for his benefit or for the benefit of members of
his family as the Administrative Committee deems appropriate under the
circumstances.

     

    Notwithstanding
the foregoing, with respect to judgments, orders, decrees issued and settlement
agreements entered into on or after August 5, 1997, a Member’s benefit may be
reduced if a court order or requirement to pay arises from:  (1) a
judgment of conviction for a crime involving the Plan, (2) a civil judgment (or
consent order or decree) that is entered by a court in an action brought in
connection with a breach (or alleged breach) of fiduciary duty under ERISA; or
(3) a settlement agreement entered into by the Member and either the Secretary
of Labor in connection with a breach of fiduciary duty under ERISA by a
fiduciary or any other person.  The court order, judgment, decree, or
settlement agreement must specifically require that all or part of the amount to
be paid to the Plan be offset against the Member’s Plan benefits.

     

    
      	
              16.04

            	
              Qualified
      Domestic Relations Order.

            

    

     

    All
rights and benefits, including elections, provided to a Member in this Plan
shall be subject to the rights afforded to any alternate payee (as defined in
Section 414(p)(8) of the Code) under a qualified domestic relations order (as
defined in Section 414(p) of the Code).

     

    Notwithstanding
anything in the Plan to the contrary, a distribution to an alternate payee shall
be permitted if such distribution is authorized by the qualified domestic
relations order without regard as to whether the affected Member is currently
entitled to receive a distribution or attained earliest retirement
age.

    
      
         

      

      
        44

        
          

        

      

      
         

      

    

    
      	
              16.05

            	
              Employment
      Rights.

            

    

     

    A
Participating Employer’s right to discipline or discharge its Employees shall
not be affected by reason of any of the provisions of the Plan.

     

    
      	
              16.06

            	
              Return
      of Contributions.

            

    

     

    
      	
               
      

            	
              (a)

            	
              Except
      as specifically provided in the Plan, under no circumstances shall any
      funds contributed to the Trust Fund or any assets of the Trust Fund ever
      revert to, or be used by, the Company or any Affiliated
      Company.

            

    

     

    
      	
               
      

            	
              (b)

            	
              Any
      contributions made by a Participating Employer may be returned to the
      Participating Employer if:

            

    

     

    
      	
               
      

            	
              (i)

            	
              the
      contribution is made by reason of a mistake of fact;
  or

            

    

     

    
      	
               
      

            	
              (ii)

            	
              the
      contribution is conditioned on its deductibility for federal income tax
      purposes (each contribution shall be deemed to be so conditioned unless
      otherwise stated in writing by the Participating Employer) and such
      deduction is disallowed;

            

    

     

    provided
such contribution is returned within one year of the payment (in the case of the
mistake of fact) or the disallowance of the deduction for federal income tax
purposes, as the case may be.  The amount of contribution that may be
returned shall be reduced to reflect its proportionate share of any net
investment loss in the Trust Fund.

     

    
      	
              16.07

            	
              Merger,
      Consolidation or Transfer.

            

    

     

    The Plan
shall not be merged or consolidated with, nor shall any Plan assets or
liabilities be transferred to, any other qualified plan, unless each Member (if
the other plan then terminated) would receive a benefit that is equal to or
greater than the benefit he would have been entitled to receive immediately
before the merger, consolidation or transfer (if the Plan had then
terminated).

     

    
      	
              16.08

            	
              Applicable
      Law.

            

    

     

    Except as
otherwise expressly required by ERISA, this Plan shall be construed and governed
in accordance with the laws of the State of New York.

     

    
      	
              16.09

            	
              Rules
      of Construction.

            

    

     

    Whenever
the context so admits, the use of the masculine gender shall be deemed to
include the feminine and vice versa, either gender shall be deemed to include
the neuter and vice versa; and the use of the singular shall be deemed to
include the plural and vice versa.

    
      
         

      

      
        45

        
          

        

      

      
         

      

    

    
      	
              16.10

            	
              Provisions
      Inconsistent with Qualified Status.

            

    

     

    This Plan
is intended to be a tax-qualified plan under the Code.  Any provision
of this Plan that would cause the Plan to fail to comply with the requirements
for qualified plans under the Code shall, to the extent necessary to maintain
the qualified status of the Plan, be null and void ab initio, and of no force
and effect, and the Plan shall be construed as if the provision had never been
inserted in the Plan.

     

    
      
        
           

        

        
          46

          
            

          

        

        
           

        

      

    

    

    ARTICLE
17

     

    MINIMUM
DISTRIBUTION REQUIREMENTS

    

    
      	
              17.01

            	
              General
      Rules.

            

    

     

    The
provisions of this Article 17 will apply for purposes of determining required
minimum distributions for calendar years beginning with distributions made on or
after January 1, 2003.  The requirements of this Article will take
precedence over any inconsistent provisions of the Plan.  All
distributions required under this Article will be determined and made in
accordance with the Treasury regulations under Section 401(a)(9) of the
Code.  Notwithstanding the other provisions of this Article,
distributions may be made under a designation made before January 1, 1984, in
accordance with Section 242(b)(2) of the Tax Equity and Fiscal Responsibility
Act (TEFRA) and the provisions of the Plan that relate to Section 242(b)(2) of
TEFRA.

    

    
      	
              17.02

            	
              Time
      and Manner of Distribution.

            

    

     

    
      	
               
      

            	
              (a)

            	
              The
      Member’s entire interest will be distributed, or begin to be distributed,
      to the Member no later than the Member’s Required Beginning
      Date.

            

    

     

    
      	
               
      

            	
              (b)

            	
              If
      the Member dies before distributions begin, the Member’s entire interest
      will be distributed, or begin to be distributed, no later than as
      follows:

            

    

     

    
      	
               
      

            	
              (i)

            	
              If
      the Member's surviving spouse is the Member’s sole designated Beneficiary,
      then, unless the Plan provides for an earlier date, distributions to the
      surviving spouse will begin by December 31 of the calendar year
      immediately following the calendar year in which the Member died, or by
      December 31 of the calendar year in which the Member would have attained
      age 701⁄2, if later.

            

    

     

    
      	
               
      

            	
              (ii)

            	
              If
      the Member’s surviving spouse is not the Member’s sole designated
      Beneficiary, then, unless the Plan provides for an earlier date,
      distributions to the designated Beneficiary will begin by December 31 of
      the calendar year immediately following the calendar year in which the
      Member died.  With respect to lump sum distributions, the
      preceding sentence shall not apply, and unless the Plan provides for an
      earlier date, the Member’s entire interest will be distributed to the
      designated Beneficiary by December 31 of the calendar year containing the
      fifth anniversary of the Member's
death.

            

    

     

    
      	
               
      

            	
              (iii)

            	
              If
      there is no designated Beneficiary as of September 30 of the year
      following the year of the Member’s death, unless the Plan provides for an
      earlier date, the Member’s entire interest will be distributed by December
      31 of the calendar year containing the fifth anniversary of the Member's
      death.

            

    

     

    
      
         

      

      
        47

        
          

        

      

      
         

      

    

    
      	
               
      

            	
              (iv)

            	
              If
      the Member’s surviving spouse is the Member’s sole designated Beneficiary
      and the surviving spouse dies after the Member but before distributions to
      the surviving spouse begin, this Section 17.02(b), other than Section
      17.02(b)(i), will apply as if the surviving spouse were the
      Member.

            

    

     

    For
purposes of this Section 17.02(b) and Section 17.04, unless Section 17.02(b)(iv)
applies, distributions are considered to begin on the Member’s Required
Beginning Date.  If Section 17.02(b)(iv) applies, distributions are
considered to begin on the date distributions are required to begin to the
surviving spouse under Section 17.02(b)(i).  If distributions under an
annuity purchased from an insurance company irrevocably commence to the Member
before the Member’s Required Beginning Date (or to the Member’s surviving spouse
before the date distributions are required to begin to the surviving spouse
under Section 17.02(b)(i), the date distributions are considered to begin is the
date distributions actually commence.

    

    
      	
               
      

            	
              (c)

            	
              Unless
      the Member’s interest is distributed in the form of an annuity purchased
      from an insurance company or in a single sum on or before the Required
      Beginning Date, as of the first Distribution Calendar Year distributions
      will be made in accordance with Sections 17.03 and 17.04 of this
      Article.  If the Member's interest is distributed in the form of
      an annuity purchased from an insurance company, distributions thereunder
      will be made in accordance with the requirements of Section 401(a)(9) of
      the Code and the Treasury
regulations.

            

    

     

    
      	
              17.03

            	
              Required
      Minimum Distributions During Member’s Lifetime. 

            

    

     

    
      	
               
      

            	
              (a)

            	
              During
      the Member’s lifetime, the minimum amount that will be distributed for
      each Distribution Calendar Year is the lesser
  of:

            

    

     

    
      	
               
      

            	
              (i)

            	
              the
      quotient obtained by dividing the Member's Account Balance by the
      distribution period in the Uniform Lifetime Table set forth in Section
      1.401(a)(9)-9 of the Treasury regulations, using the Member’s age as of
      the Member’s birthday in the Distribution Calendar Year;
  or

            

    

     

    
      	
               
      

            	
              (ii)

            	
              if
      the Member’s sole designated Beneficiary for the Distribution Calendar
      Year is the Member’s spouse, the quotient obtained by dividing the
      Member’s Account Balance by the number in the Joint and Last Survivor
      Table set forth in Section 1.401(a)(9)-9 of the Treasury regulations,
      using the Member’s and spouse’s attained ages as of the Member’s and
      spouse’s birthdays in the Distribution Calendar
  Year.

            

    

     

    
      	
               
      

            	
              (b)

            	
              Required
      minimum distributions will be determined under this Section 17.03
      beginning with the first Distribution Calendar Year and up to and
      including the Distribution Calendar Year that includes the Member’s date
      of death.

            

    

     

    
      
         

      

      
        48

        
          

        

      

      
         

      

    

    
      	
              17.04

            	
              Required
      Minimum Distributions After Member’s
Death.

            

    

     

    
      	
               
      

            	
              (a)

            	
              Death
      On or After Date Distributions
Begin.

            

    

     

    
      	
               
      

            	
              (i)

            	
              If
      the Member dies on or after the date distributions begin and there is a
      designated Beneficiary, the minimum amount that will be distributed for
      each Distribution Calendar Year after the year of the Member’s death is
      the quotient obtained by dividing the Member's Account Balance by the
      longer of the remaining Life Expectancy of the Member or the remaining
      Life Expectancy of the Member’s designated Beneficiary, determined as
      follows:

            

    

     

    
      
        
          	
                	
                  (1)

                	
                  The
      Member’s
      remaining Life Expectancy is calculated using the age of the Member in the
      year of death, reduced by one for each subsequent
  year.

                

        

      

    

    

    
      
        	
              	
                (2)

              	
                If
      the Member’s surviving spouse is the Member’s sole designated Beneficiary,
      the remaining Life Expectancy of the surviving spouse is calculated for
      each Distribution Calendar Year after the year of the Member’s death using
      the surviving spouse’s age as of the spouse’s birthday in that
      year.  For Distribution Calendar Years after the year of the
      surviving spouse’s death, the remaining Life Expectancy of the surviving
      spouse is calculated using the age of the surviving spouse as of the
      spouse’s birthday in the calendar year of the spouse’s death, reduced by
      one for each subsequent calendar
year.

              

      

    

    

    
      
        	
              	
                (3)

              	
                If
      the Member’s surviving spouse is not the Member’s sole designated
      Beneficiary, the designated Beneficiary’s remaining Life Expectancy is
      calculated using the age of the Beneficiary in the year following the year
      of the Member’s death, reduced by one for each subsequent
      year.

              

      

    

    

    
      	
               
      

            	
              (ii)

            	
              If
      the Member dies on or after the date distributions begin and there is no
      designated Beneficiary as of September 30 of the year after the year of
      the Member’s death, the minimum amount that will be distributed for each
      Distribution Calendar Year after the year of the Member’s death is the
      quotient obtained by dividing the Member's Account Balance by the Member’s
      remaining Life Expectancy calculated using the age of the Member in the
      year of death, reduced by one for each subsequent
  year.

            

    

     

    
      
         

      

      
        49

        
          

        

      

      
         

      

    

    
      	
               
      

            	
              (b)

            	
              Death
      Before Date Distributions Begin.

            

    

     

    
      	
               
      

            	
              (i)

            	
              If
      the Member dies before the date distributions begin and there is a
      designated Beneficiary, the minimum amount that will be distributed for
      each Distribution Calendar Year after the year of the Member’s death is
      the quotient obtained by dividing the Member's Account Balance by the
      remaining Life Expectancy of the Member’s designated Beneficiary,
      determined as provided in Section 17.04(a).  With respect to
      lump sum distributions, the preceding sentence shall not apply, and unless
      the Plan provides for an earlier date, the Member’s entire interest will
      be distributed to the designated Beneficiary by December 31 of the
      calendar year containing the fifth anniversary of the Member's
      death.

            

    

     

    
      	
               
      

            	
              (ii)

            	
              If
      the Member dies before the date distributions begin and there is no
      designated Beneficiary as of September 30 of the year following the year
      of the Member’s death, then, unless the Plan provides for an earlier date,
      distribution of the Member's entire interest will be completed by December
      31 of the calendar year containing the fifth anniversary of the Member's
      death.

            

    

     

    
      	
               
      

            	
              (iii)

            	
              If
      the Member dies before the date distributions begin, the Member’s
      surviving spouse is the Member’s sole designated Beneficiary, and the
      surviving spouse dies before distributions are required to begin to the
      surviving spouse under Section 17.02(b)(i), this Section 17.04(b) will
      apply as if the surviving spouse were the
  Member.

            

    

     

    
      	
              17.05

            	
              Definitions
      for Purposes of this Article

            

    

     

    
      	
               
      

            	
              (a)

            	
              “Designated
      Beneficiary” shall mean the individual who is designated as the
      Beneficiary under Section 11.08 of the Plan and is the designated
      beneficiary under Section 401(a)(9) of the Code and Section 1.401(a)(9)-1,
      Q&A-4, of the Treasury
regulations.

            

    

     

    
      	
               
      

            	
              (b)

            	
              “Distribution
      Calendar Year” shall mean a calendar year for which a minimum distribution
      is required.  For distributions beginning before the Member’s
      death, the first Distribution Calendar Year is the calendar year
      immediately preceding the calendar year which contains the Member's
      Required Beginning Date.  For distributions beginning after the
      Member’s death, the first Distribution Calendar Year is the calendar year
      in which distributions are required to begin under Section
      17.02(b).  The required minimum distribution for the Member's
      first Distribution Calendar Year will be made on or before the Member's
      Required Beginning Date.  The required minimum distribution for
      other Distribution Calendar Years, including the required minimum
      distribution for the Distribution Calendar
      Year in which the Member's Required Beginning Date occurs, will be made on
      or before December 31 of that Distribution Calendar Year.
      

            

    

     

    
      	
               
      

            	
              (c)

            	
              “Life
      Expectancy” shall mean life expectancy as computed by use of the Single
      Life Table in Section 1.401(a)(9)-9 of the Treasury
      regulations.

            

    

     

    
      
         

      

      
        50

        
          

        

      

      
         

      

    

    
      	
               
      

            	
              (d)

            	
              “Member’s
      Account Balance” shall mean the Account Balance as of the last valuation
      date in the calendar year immediately preceding the Distribution Calendar
      Year (Valuation Calendar Year) increased by the amount of any
      contributions made and allocated or forfeitures allocated to the Account
      Balance as of dates in the Valuation Calendar Year after the valuation
      date and decreased by distributions made in the Valuation Calendar Year
      after the valuation date.  The Account Balance for the Valuation
      Calendar Year includes any amounts rolled over or transferred to the Plan
      either in the Valuation Calendar Year or in the Distribution Calendar Year
      if distributed or transferred in the Valuation Calendar
    Year.

            

    

     

    
      	
               
      

            	
              (e)

            	
              “Required
      Beginning Date” shall mean the April 1st
      of the calendar year following the later of (i) the calendar in which the
      Member attains age 70-1/2, or (ii) the calendar year in which the Member
      retires, provided however, that in the case of a Member who is a 5% owner
      (as defined in Code Section 416(i)(1)(B)) at any time during the
      5-Plan-Year period ending in the calendar year in which such Member
      attains age 70-1/2, benefits payable to such 5% owner must commence no
      later than the April 1st
      following the end of the calendar year in which such 5% owner attains age
      70-1/2, or the April 1st
      following the end of any subsequent calendar year if he or she becomes a
      5% owner during such subsequent calendar
year.

            

    

     

    
      	
              17.06

            	
              2009
      Required Minimum Distributions

            

    

     

    Notwithstanding
anything in this Article 17 to the contrary, a Participant or Beneficiary who
would have been required to receive required minimum distributions for 2009 but
for the enactment of section 401(a)(9)(H) of the Code (“2009 RMDs”), and who
would have satisfied that requirement by receiving distributions that are (1)
equal to the 2009 RMDs or (2) one or more payments in a series of substantially
equal distributions (that include the 2009 RMDs) made at least annually and
expected to last for the life (or life expectancy) of the Participant, the joint
lives (or joint life expectancy) of the Participant and the Participant’s
designated Beneficiary, or for a period of at least ten (10) years (“Extended
2009 RMDs”), will not receive those distributions for 2009 unless the
Participant or Beneficiary request such distributions.  In addition,
for purposes of applying the direct rollover provisions of the Plan set forth in
Section 7 of Article IV, 2009 RMDs and Extended 2009 RMDs will not be treated as
eligible rollover distributions in 2009.

     

    
      
         

      

      
        51

        
          

        

      

      
         

      

    

     

    This
Amended and Restated Plan, effective as of May 1, 2008, is adopted by unanimous
consent of the members of the Administrative Committee of the Value Line, Inc.
Profit Sharing and Savings Plan this 29th day of June 2010

     

    
    

    
      
        
          
            
              
                
                  
                    
                      
                        	 
      	
                                
                                  ADMINISTRATIVE
      COMMITTEE OF THE VALUE LINE,

                                  INC.
      PROFIT SHARING AND SAVINGS PLAN

                                

                              	 
	 
      	 
      	 
	 	 	 

                      

                    

                  

                

              

            

          

        

      

    

     

    
      
        
        

      

      
        52INDEMNIFICATION
AGREEMENT

     

    This
AGREEMENT is made and entered into this 13th day of July, 2010, by and between
Value Line, Inc., a New York corporation (the “Company”), and [Name
of Director] (the “Indemnitee”).

     

    WHEREAS,
it is essential to the Company and its mission to retain capable persons as
Directors; and attract as Directors the most capable persons
available;

     

    WHEREAS,
the Indemnitee currently serves as a Director of the Company;

     

    WHEREAS,
both the Company and Indemnitee recognize the potential risk that Indemnitee is
or becomes a party to or witness in litigation, and/or investigations initiated
solely by a government agency or FINRA, by reason of Indemnitee’s position as a
current or former member of the Board of Directors or Officer of the Company
(“Claims”);

     

    WHEREAS,
the certificate of incorporation of the Company (together with the bylaws of the
Company, the “Governing Documents”)
provide certain indemnification rights to the Directors of the Company;
and

     

    WHEREAS,
in recognition of Indemnitee’s desire for protection against personal liability,
the Company wishes to provide in this Agreement for the indemnification of
Indemnitee as set forth in this Agreement, and, to the extent insurance is
maintained, for the continued coverage of Indemnitee under the Directors’ and
Officers’ liability insurance policies of the Company and/or its affiliates, if
applicable.

     

    NOW,
THEREFORE, to provide Indemnitee with express contractual indemnification, and
for other good and valuable consideration, the receipt and sufficiency of which
are hereby acknowledged, the parties agree as follows:

     

    1.           Value
Line, Inc. (“the Company”) agrees that in accordance with its certificate of
incorporation and bylaws, indemnification of the Officers and Directors of the
Company shall be provided primarily through the purchase of insurance under a
Directors and Officers liability policy.

     

    2.           In
the event Indemnitee is or becomes a party to or witness or other participant
in, or is threatened to be made a party to or witness or other participant in a
Claim, by reason of Indemnitee’s position as a member of the Board of Directors
of the Company, Indemnitee shall immediately give notice accompanied by a copy
of any document or documents evidencing such indemnifiable event, to the
Company, “Attention: Howard A. Brecher, Esq., Acting CEO” or to any other person
then holding such position. Such notice shall be a non-waivable condition
precedent to invoking the indemnification provisions of this
agreement.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    3.           For
any Claims:

     

    (a)           The
Company and the Directors and/or Officers agree that, subject to applicable law,
the Company’s CEO or Acting CEO will determine strategy for all Claims including
whether the Company will litigate or settle any litigation.  The CEO
or Acting CEO may select one or more counsel if he determines it is in the
common interest; otherwise the Directors and/or Officers may select counsel
acceptable to the CEO or Acting CEO.  The Company shall advance
reasonable fees and costs for selected or accepted counsel.  The
Company shall, provided that such Directors and/or Officers relied in the
underlying matter upon the advice of relevant professionals where such advice
was sought (in the case of legal counsel after Claims arise, the CEO or acting
CEO’s selected or accepted counsel, in the case of accountants, the Company’s
auditors, or other accounting advice at the request of the CEO or acting CEO),
indemnify such Directors and/or Officers to the fullest extent permitted by
applicable law except as set forth herein.  If any Director and/or
Officer wishes to challenge the CEO’s or Acting CEO’s decision regarding
strategy or selection of counsel, or payment of fees, he may do so at his own
expense.

     

    (b)           If
a Director and/or Officer named in a lawsuit on behalf of the Company (e.g. a
shareholder derivative suit) decides to have separate legal counsel rather than
utilizing the CEO’s or Acting CEO’s selected or accepted counsel, that
Director’s and/or Officer’s own personal expense shall not be subject to
reimbursement by the Company.

     

    (c)           No
director and/or Officer may settle a lawsuit which the Company or its insurance
pays for without the prior written approval of the Company’s CEO or Acting
CEO.

     

    (d)           Any
Director and/or Officer named as a Defendant in the lawsuit filed on behalf of
the Company agrees that he/she will cooperate with the Company in defending the
Company and any of the other Officers or Directors.

     

    (e)           If
the Company advances fees and costs for counsel to any Director and/or Officer
and that Director and/or Officer is found by a Court of competent jurisdiction
after all appeals not to have acted in good faith, then the Director and/or
Officer must reimburse the Company for any funds that have been advanced
pursuant to this Agreement.

     

    4.           Amendments;
Waiver.  No supplement, modification or amendment of this
Agreement shall be binding unless executed in writing by both of the parties
hereto.  No waiver of any of the provisions of this Agreement shall be
deemed or shall constitute a waiver of any other provisions hereof (whether or
not similar) nor shall any such waiver constitute a continuing
waiver.

     

    5.           Subrogation.  In
the event of payment under this Agreement, the Company shall be subrogated to
the extent of such payment to all of the rights of recovery of Indemnitee, who
shall execute all papers required and shall do everything that may be necessary
to secure such rights, including the execution of such documents necessary to
enable the Company effectively to bring suit to enforce such
rights.

     

    6.           No Duplication of
Payments.  The Company shall not be liable under this Agreement
to make any payment in connection with any Claim made against Indemnitee to the
extent Indemnitee has otherwise actually received payment (under any insurance
policy, Governing Document or otherwise) of the amounts otherwise indemnifiable
hereunder.

     

    
      
         

      

      
        2

        
          

        

      

      
         

      

    

     

    7.           Limitation.  This
Indemnification Agreement does not extend to lawsuits brought by the Indemnitee
against the Company, its Officers, Directors or affiliates and/or Jean Buttner
or members of her family.

     

    8.           Severability.  The
provisions of this Agreement shall be severable in the event that any of the
provisions hereof (including any provision within a single section, paragraph or
sentence) is held by a court of competent jurisdiction to be invalid, void or
otherwise unenforceable in any respect, and the validity and enforceability of
any such provision in every other respect and of the remaining provisions hereof
shall not be in any way impaired and shall remain enforceable to the fullest
extent permitted by law.

     

    9.           Effective
Date.  This Agreement shall be effective as of the date hereof
and shall apply to any claim for indemnification by the Indemnitee on or after
such date regardless of the date of the event or occurrence giving rise to a
Claim.

     

    10.         Governing Law; Consent to
Jurisdiction.  This Agreement shall be governed by and
construed and enforced in accordance with the laws of the State of New York
applicable to contracts made and to be performed in such
state.  Except as set forth in Section 3(e), any dispute, claim or
controversy arising out of or relating to this Agreement or the breach,
termination, enforcement, interpretation or validity thereof, including the
determination of the scope or applicability of this agreement to arbitrate,
shall be determined by arbitration in New York, New York, before one
arbitrator.  The arbitration shall be administered by JAMS pursuant to
its Comprehensive Arbitration Rules and Procedures.  Judgment on the
Award may be entered in any New York State or federal court.  This
arbitration clause shall not preclude parties from seeking provisional remedies
in aid of arbitration from any New York State or federal court.  The
Company and the Indemnitee hereby irrevocably and unconditionally consent to the
exclusive jurisdiction of any New York State or federal court for purposes of
enforcing the Award and provisional remedies in aid of the arbitration and waive
any objection to venue therein or any forum nonconveniens or similar
theories.

     

    IN
WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date
set forth above.

     

    
      	 
      	
              VALUE
      LINE, INC.

            
	 
      	 
      
	 
      	
                

            
	 
      	
              Name:

            
	 
      	
              Title:

            
	 
      	 
      
	 
      	
              INDEMNITEE

            
	 
      	 
      
	 
      	
                

            
	 
      	
              [Name
      of Director]

            

    

    

    
      
         

      

      
        3

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