Document:

<PAGE>

                                                                    EXHIBIT 10.8

                              AMENDED AND RESTATED
                       AGREEMENT FOR MANAGEMENT ADVISORY,
                             STRATEGIC PLANNING AND
                               CONSULTING SERVICES

         THIS AGREEMENT (the "Agreement") is made effective as of the __th day
of June, 2003 (the "Effective Date"), by and between Investcorp International
Inc., a Delaware corporation ("III"), and Werner Holding Co. (DE), Inc., a
Delaware corporation ("Werner").

         WHEREAS, this III and Werner are parties to an Agreement for Management
Advisory Services, dated as of November 25, 2002 (the "2002 Agreement"),
pursuant to which Werner has paid to III a consulting service fee of $1,500,000
for services provided from November 25, 2002 to November 24, 2003; and

         WHEREAS III and Werner desire to amend and restate the 2002 Agreement.

         NOW, THEREFORE, the parties do hereby agree as follows:

         1.       Appointment. Werner hereby reconfirms its appointment of III
to render management advisory, strategic planning and consulting services to
Werner pursuant to the 2002 Agreement as amended hereby through November 24,
2007 (the period of November 25, 2002 through November 24, 2007 is referred to
herein as the "Term").

         2.       III. During the Term, III shall render to Werner, by and
through such of its officers, employees, agents and affiliates as III, in its
sole discretion, shall designate from time to time, management advisory,
strategic planning and consulting services. Such services shall consist of
advice concerning management, finance, marketing, strategic planning, and such
other services as shall be requested from time to time by the Board of Directors
of Werner. Werner acknowledges and agrees that the services to be provided by
III hereunder do not encompass services that would be required in connection
with an acquisition, joint venture, restructuring or initial public offering by
Werner, or a private sale of the stock or assets of Werner. Should Werner desire
to engage III to provide financial advisory services in connection with any such
type of transaction, such engagement shall be subject to the negotiation of
mutually acceptable fee arrangements for such additional services, albeit the
indemnification obligations of Werner as set forth in paragraph 7 of this
Agreement shall apply to any such additional services performed by III.

         3.       Fees.

                  3.1      Services Fee. In consideration of III's performance
of the above-described services, Werner has paid to III consulting services fees
of $1,500,000, in cash, for the 12 months ending November 25, 2003 and, shall
pay to III, in cash, consulting services fees at a rate of $1,000,000 per
12-month period for each subsequent 12-month period for the remainder of the
Term (collectively, the "Services Fee"). It is recognized that the services
provided under this Agreement will not be evenly distributed over time. It is
also recognized that, subject to the terms of this Agreement, Werner is
committed to pay the full amount payable hereunder, and the

<PAGE>

Fee, once paid, is non-refundable. The full amount of the Fee for each remaining
year of the Term shall be paid on the first business day of such year.

                  3.2      Structuring Fee. In connection with the services
provided to the Company in connection with the transactions contemplated by, and
pursuant to the terms of, that certain Recapitalization and Purchase Agreement,
dated as of May 7, 2003 (the "Recapitalization Agreement"), by and among Werner
Holding Co. (PA), Inc., a Pennsylvania corporation, Green Equity Investors III,
L.P., a Delaware limited partnership, and the shareholders party thereto, the
Company agrees to pay to III a structuring fee of $1,000,000 and reasonable
out-of-pocket expenses incurred by the III in connection with the services
provided in connection with the transactions contemplated by the
Recapitalization Agreement, which fee and expenses shall be paid to the III on
the date of this Agreement.

         4.       Reimbursements. Within 15 calendar days of delivery of III's
invoice, Werner shall reimburse III for its reasonable out-of-pocket expenses
incurred in connection with the performance of services pursuant to this
Agreement.

         5.       Termination. This shall terminate on the earlier of (i)
November 24, 2007, (ii) such time as Investcorp Investors (as defined in the
Amended and Restated Shareholders' Agreement dated as of June 11, 2003 (the
"Shareholders' Agreement")) cease to own at least 50% of the aggregate equity
position in the Company owned by the Investcorp Investors as of immediately
after the closing of the Recapitalization (as defined in the Shareholders'
Agreement), or (iii) a Qualified IPO (as such term is defined in the Statement
of Rights of the Series A Preferred Stock). Notwithstanding any other provision
hereof, the obligations of Werner to pay amounts due with respect to periods
prior to the termination hereof pursuant to paragraph 3 hereof and the
provisions of paragraphs 7 and 8 hereof shall survive any termination of this
Agreement.

         6.       Default. In the event that Werner fails to pay any part of the
Fee as set forth in Paragraph 3 above when and as due, and Werner does not cure
such failure prior to the 10th day of the month following the month in which
such payment is due, then Werner shall be in default under this Agreement and
III shall be entitled to receive payment in full of the unpaid portion of the
Fee upon making written demand upon Werner for such payment. Upon delivery of
such written demand, III shall be excused from rendering any further services
pursuant to this Agreement. The aforesaid right and privilege of III to withhold
services is intended to be in addition to any and all other remedies available
because of Werner's default, including III's right to payment of all fees set
forth herein. Further, in the event of a default by Werner, Werner agrees to
reimburse III for any and all costs and expenses incurred by III, including,
without limitation, reasonable counsel fees and expenses, in connection with
such default and any litigation or other proceedings instituted for the
collection of payments due hereunder.

         7.       Decisions/Authority of Advisor.

                  7.1      Limitation on III's Liability. Werner reserves the
right to make all decisions with regard to any matter upon which III has
rendered its advice and consultation, and there shall be no liability of III for
any such advice accepted by Werner pursuant to the provisions of this Agreement.

                                       2
<PAGE>

                  7.2      Independent Contractor. III shall act solely as an
independent contractor and shall have complete charge of its personnel engaged
in the performance of services under this Agreement. As an independent
contractor, III shall have authority only to act as an advisor to Werner and
shall have no authority to enter into any agreement or to make any
representation, commitment or warranty binding upon Werner or to obtain or incur
any right, obligation or liability on behalf of Werner. Nothing herein shall
constitute III or any of its affiliates a partner of or joint venturer with
Werner. Nothing herein shall in any way preclude III from engaging in any
business activities or from performing services for its own account or for the
account of others.

         8.       Indemnification.

                  8.1      Indemnification/Reimbursement of Expenses. Werner
shall (i) indemnify III and its officers, employees, agents and affiliates (the
"Indemnified Parties") to the fullest extent permitted by law, from and against
any and all losses, claims, damages and liabilities, joint or several, to which
any Indemnified Party may become subject, caused by, related to or arising out
of services under this Agreement or any other advice or services contemplated by
this Agreement or the engagement of III pursuant to, and the performance by the
III of the services contemplated by, this Agreement, and (ii) promptly reimburse
each Indemnified Party for all costs and expenses (including reasonable and
documented attorneys' fees and expenses), as incurred, in connection with the
investigation of, preparation for or defense of any pending or threatened claim
or any action or proceeding arising therefrom, whether or not such Indemnified
Party is a party and whether or not such claim, action or proceeding is
initiated or brought by or on behalf of Werner and whether or not resulting in
any liability.

                  8.2      Limited Liability. Werner shall not be liable under
the indemnification contained in Section 8.1 hereof to the extent that such
loss, claim, damage, liability, cost or expense is found in a final
non-appealable judgment by a court of competent jurisdiction to have resulted
from III's willful misconduct or gross negligence. Werner further agrees that no
Indemnified Party shall have any liability (whether direct or indirect, in
contract, tort or otherwise) to Werner, holders of its securities or its
creditors related to or arising out of the engagement of III pursuant to, or the
performance by III of the services contemplated by, this Agreement.

         9.       Amendments. No amendment or waiver of any provision of this
Agreement, or consent to any departure by either party from any such provision,
shall in any event be effective unless the same shall be in writing and signed
by the parties to this Agreement and then such amendment, waiver or consent
shall be effective only in the specific instance and for the specific purpose
for which given.

         10.      Notices. Any and all notices hereunder shall, in the absence
of receipted hand delivery, be deemed duly given when mailed, if the same shall
be sent by registered or certified mail, return receipt requested, and the
mailing date shall be deemed the date from which all time periods pertaining to
a date of notice shall run. Notices shall be addressed to the parties at the
following addresses:

                                       3
<PAGE>

                  If to III, to:

                  Investcorp International Inc.
                  280 Park Avenue, 36th Floor West
                  New York, New York 10017
                  Attention: President

                  with a copy to:

                  Gibson, Dunn & Crutcher LLP
                  200 Park Avenue, 48th Floor
                  New York, New York 10166
                  Attention: E. Michael Greaney, Esq.

                  If to Werner, to:

                  Werner Holding Co. (DE), Inc.
                  93 Werner Road
                  Greenville, Pennsylvania 16125
                  Attention: General Counsel

         11.      Entire Agreement. This Agreement shall constitute the entire
agreement between the parties with respect to the subject matter hereof, and
shall supersede all previous oral and written (and all contemporaneous oral)
negotiations, commitments, agreements and understandings relating hereto.

         12.      Assignment. This Agreement shall be assignable by either party
hereto provided that the non-assigning party consents in writing to such
assignment.

         13.      Applicable Law. This Agreement shall be construed and enforced
in accordance with the laws of New York (without regard to the conflicts of laws
provisions thereof or of any other jurisdiction) and shall inure to the benefit
of, and be binding upon, III and Werner and their respective successors and
assigns.

         14.      No Continuing Waiver. The waiver by any party of any breach of
this Agreement shall not operate or be construed to be a waiver of any
subsequent breach.

         15.      Counterparts. This Agreement may be executed in two or more
counterparts, each of which shall be deemed an original, but which together
shall constitute one and the same instrument.

         16.      Governing Law. This agreement shall be governed by and
construed in accordance with the laws of the State of New York as applied to
contracts made and performed within the State of New York without regard to
principles of conflict of laws.

                                       4
<PAGE>

         IN WITNESS WHEREOF, each of the parties has caused this Agreement for
Management Advisory, Strategic Planning and Consulting Services to be executed
and delivered by its duly authorized officer or agent as set forth below.

                                    INVESTCORP INTERNATIONAL INC.

                                    By: _____________________________
                                    Name:
                                    Title:
                                    Date:

                                    WERNER HOLDING CO. (DE), INC.

                                    By: _____________________________
                                    Name:
                                    Title:
                                    Date:

                                       5<PAGE>

                                                                    EXHIBIT 10.9

                         WERNER CO. DEFERRED STOCK PLAN
                 AMENDED AND RESTATED EFFECTIVE AS OF MAY , 2003

                                    ARTICLE I

                      TITLE, PURPOSE AND AUTHORIZED SHARES

         This Plan shall be known as the "WERNER CO. DEFERRED STOCK PLAN". The
purpose of this Plan is to motivate and retain Dennis Heiner as Chief Executive
Officer of the Company by permitting him to defer compensation and affording him
the opportunity to link that compensation to an equity interest in Parent. The
total number of shares of Class C Stock that may be delivered pursuant to
deferral elections and grants under this Plan is One Thousand Three Hundred
Eight (1,308), subject to adjustments contemplated by Section 5.5.

                                   ARTICLE II

                                   DEFINITIONS

         Whenever the following terms are used in this Plan they shall have the
meaning specified below unless the context clearly indicates to the contrary:

         ACCOUNT means the Participant's Stock Unit Account

         ACT means the Securities Act of 1933, as amended.

         APPROVED SALE means a transaction or a series of related transactions
which results in a bona fide, unaffiliated change of economic beneficial
ownership of the Parent or its business of greater than 50% (disregarding for
this purpose any disparate voting rights attributable to the outstanding stock
of the Parent), whether pursuant to the sale of the stock of the Parent, the
sale of the assets of the Parent, or a merger or consolidation (other than a
sale of stock by an Initial Stockholder to (i) another Initial Stockholder or
affiliate thereof, or (ii) a non-U.S. entity with respect to which an Initial
Stockholder or affiliate thereof has an administrative relationship).

         ARTICLES OF INCORPORATION means the Restated Articles of Incorporation
of the Parent, as amended from time to time.

         AWARD DATE means (a) with reference to the crediting of Stock Units
pursuant to elections under Section 4.1, the Pay Date; and (b) with reference to
grants of Stock Units, the award date stated in the grant instrument.

         BOARD means the Board of Directors of the Company.

         CAUSE has the meaning set forth in the Employment Agreement.

         CHANGE IN CONTROL EVENT has the meaning set forth in the Employment
Agreement.

         CLASS C STOCK means Class C Stock, $0.01 par value, of Parent subject
to adjustment pursuant to Section 5.5; subsequent to the closing of the
recapitalization and redemption contemplated by the Recapitalization and Stock
Purchase Agreement dated as of May 7, 2003 by and among the Parent, its
shareholders and Green Equity Investors III, L.P. (the

<PAGE>

"Recapitalization Agreement"), Class C Stock shall mean Post-Recapitalization
Class C Stock as defined in the Recapitalization Agreement, subject to
adjustment pursuant to Section 5.5.

         CLOSING DATE means the date on which occurred the closing of the
recapitalization of the Parent pursuant to the Recapitalization Agreement.

         CODE means the Internal Revenue Code of 1986, as amended.

         COMMITTEE means the Board or a Committee of the Board acting in
accordance with Article VI.

         COMPANY means Werner Co., a Pennsylvania corporation and wholly-owned
subsidiary of Parent, and its successors and assigns.

         DESIGNATED PRICE equals $2,421.29 per share.

         DIVIDEND EQUIVALENT means the amount of cash dividends or other cash
distributions paid by the Parent on that number of shares of Class C Stock
equivalent to the number of Stock Units then credited to the Participant's Stock
Unit Account, which amount shall be allocated as additional Stock Units to the
Participant's Stock Unit Account, as provided in Section 5.2.

         EFFECTIVE DATE means September 30, 1999.

         EMPLOYMENT AGREEMENT means the employment agreement dated as of May 26,
1999 by and between the Company and the Participant.

         FAIR MARKET VALUE means on any date the fair market value of a share of
Class C Stock, as determined by the Board pursuant to Section 5.7(c). The Fair
Market Value as of the Effective Date is $2,421.29 per share.

         GOOD REASON has the meaning set forth in the Employment Agreement.

         INITIAL PUBLIC OFFERING means the sale of any of the common stock of
the Parent pursuant to a registration statement that has been declared effective
under the Act, if as a result of such sale (i) the issuer becomes a reporting
company under Section 12(b) or 12(g) of the Securities Exchange Act of 1934, as
amended, and (ii) such stock is traded on the New York Stock Exchange or the
American Stock Exchange, or is quoted on the Nasdaq National Market System or is
traded or quoted on any other national stock exchange or national securities
system.

         INITIAL STOCKHOLDERS means the shareholders of the Parent who became
shareholders as of the Closing Date (other than any such shareholders who were
employees of the Parent or a Subsidiary or were shareholders of the Parent or a
Subsidiary prior to the Closing Date) and any transferees of such shareholders
prior to an Initial Public Offering or an Approved Sale.

         INVESTORS means those entities set forth on Schedule 1 of the
Recapitalization Agreement.

         IWH means Investcorp Werner Holdings L.P., a Cayman Islands
corporation.

         PARENT means Werner Holding Co. (PA), Inc., a Pennsylvania corporation
and the owner of 100% of the outstanding stock of the Company.

         PARTICIPANT means Dennis Heiner.

                                       2
<PAGE>

         PERMANENT DISABILITY has the meaning set forth in the Employment
Agreement.

         PERMITTED TRANSFEREE has the meaning set forth in Section 5.8.

         PLAN means the Werner Co. Deferred Stock Plan.

         RECAPITALIZATION AGREEMENT means that certain recapitalization
agreement, dated as of October 8, 1997 and amended as of October 27, 1997, by
and between the Parent and the Investors.

         RECORD DATE means the date, as determined by the Board, on which a
shareholder must own shares in order to be entitled to a dividend.

         REPURCHASE PERIOD and REPURCHASE RIGHT have the meaning set forth in
Section 5.7(a).

         REPURCHASE PERIOD COMMENCEMENT DATE means the first date on which all
Shares distributed to the Participant pursuant to Section 5.4 shall have been
owned by the Participant for six (6) months.

         SHARES means shares of Class C Stock of the Parent distributed to the
Participant hereunder pursuant to Section 5.4.

         STOCK UNIT OR UNIT means a non-voting unit of measurement which is
deemed for bookkeeping purposes to be equivalent to one outstanding share of
Class C Stock of the Parent solely for purposes of this Plan.

         STOCK UNIT ACCOUNT means the bookkeeping account maintained by the
Company on behalf of the Participant which is credited with Stock Units in
accordance with Section 5.1.

         TERMINATION DATE means the date on which the Participant ceases to be
employed by the Company for any reason.

         YEAR means the calendar year.

         ARTICLE III

         PARTICIPATION

         The Participant may elect to defer all or part of his or her salary
and/or bonus for the applicable year under and subject to Section 4.1 of this
Plan.

         ARTICLE IV

         DEFERRAL ELECTIONS AND GRANTS

4.1. ELECTIONS.

         (a) Time And Type Of Elections. On or before December 31 of each Year
(or, in the case of the year in which the Plan is adopted, within 30 days after
the Effective Date of the Plan), the Participant may make an irrevocable
election to defer all or any part of the salary and/or bonus payable to him for
services to be rendered during the next Year (or remainder of the Year, as the
case may be); provided, however, that any election hereunder shall be effective
only if approved by the Committee in its absolute discretion.

                                       3
<PAGE>

         (b) Elections. All elections shall be in writing on forms provided by
the Company.

4.2. GRANTS OF STOCK UNITS.

         The Company may, from time to time, grant Stock Units to the
Participant. Any such Stock Units shall be treated in all respects in the same
manner as Stock Units arising from an irrevocable election of deferral.

         ARTICLE V

         DEFERRAL ACCOUNTS

5.1. STOCK UNIT ACCOUNT.

         (a) Crediting Of Stock Units. If the Participant has made an election
under Section 4.1, the Committee shall, as of the Pay Date, credit the
Participant's Stock Unit Account with a number of Units determined by dividing
the applicable portion of the Participant's salary and/or bonus by the Fair
Market Value of a share of Class C Stock as of the Pay Date. If the Participant
has been granted Stock Units pursuant to Section 4.2, the Committee shall, as of
the Award Date, credit the Participant's Stock Unit Account with the number of
Units so granted.

         (b) Limitations On Rights Associated With Units. The Participant's
Stock Unit Account shall be a memorandum account on the books of the Company.
The Units credited to the Participant's Stock Unit Account shall be used solely
as a device for the determination of the number of shares of Class C Stock to be
eventually distributed to the Participant in accordance with this Plan. The
Units shall not be treated as property or as a trust fund of any kind. The
Participant shall not be entitled to any voting or other stockholder rights with
respect to Units credited under this Plan. The number of Units credited (and the
Class C Stock to which the Participant is entitled under this Plan) shall be
subject to adjustment in accordance with Section 5.5.

5.2. DIVIDEND EQUIVALENT CREDITS TO STOCK UNIT ACCOUNT.

         As of the Pay Date with respect to any dividends, the Participant's
Stock Unit Account shall be credited with that number of additional Units as
shall equal the quotient obtained by dividing (i) the Dividend Equivalents
representing dividends paid on that number of shares equal to the aggregate
Stock Units in the Participant's Stock Unit Account as of the Record Date, by
(ii) the Fair Market Value of a share of Class C Stock as of the Pay Date.

5.3. IMMEDIATE VESTING.

         (a) Units And Other Amounts Vest Immediately. All Units or other
amounts credited to the Participant's Stock Unit Account shall be at all times
fully vested.

5.4. DISTRIBUTION OF BENEFITS.

         (a) Commencement Of Benefit Distribution. The Participant shall be
entitled to receive a distribution of his Account on the first business day of
the first month following his termination of service with the Company.

         (b) Manner Of Distribution. The benefits payable under this Plan shall
be distributed to the Participant (or, in the event of his death, the
Participant's Beneficiary) in a single distribution,

                                       4
<PAGE>

or, as permitted by this Section 5.4(b). The Participant may elect in writing on
forms provided by the Company at the time of making his deferral election or at
the time of the grant of Stock Units under Article IV or at least 12 months in
advance of the date benefits become distributable under Section 5.4(a) to
receive a distribution of his benefits in up to ten annual installments. Such
installment payments shall commence as of the date benefits become distributable
under Section 5.4(a). Notwithstanding the foregoing, if the number of Units
remaining in the Participant's Stock Unit Account is less than 100, then such
remaining balance shall be distributed in a single distribution.

         (c) Effect Of Change Of Control. Notwithstanding Sections 5.4(a) and
(b), if a Change of Control and a termination of service has occurred or shall
occur, the Participant's Account shall be distributed immediately in a single
distribution.

         (d) Distribution In Shares. Stock Units credited to a Participant's
Stock Unit Account shall be distributed in an equivalent whole number of shares
of Class C Stock. No part of such distribution shall be made in cash.

5.5. ADJUSTMENTS IN CASE OF CHANGES IN CLASS C STOCK.

         (a) Equitable Adjustments. If any stock dividend, stock split,
recapitalization, merger, consolidation, combination or other reorganization,
exchange of shares, sale of all or substantially all of the assets of Parent,
split-up, split-off, spin-off, extraordinary redemption, liquidation or similar
change in capitalization or any distribution to holders of Class C Stock (other
than cash dividends and cash distributions) shall occur, proportionate and
equitable adjustments consistent with the effect of such event on stockholders
generally (but without duplication of benefits if Dividend Equivalents are
credited) shall be made in the number and type of shares of Class C Stock or
other securities, property and/or rights contemplated hereunder and of rights in
respect of Units and Accounts credited under this Plan so as to preserve the
benefits intended.

         b. Creation Of Deferred Compensation Dollar Account. If the Committee
determines that proportionate and equitable adjustments are required to take
account of a recapitalization of Parent or an extraordinary redemption of Parent
shares, including, without limitation, shares into which shares of Class C Stock
of Parent are converted pursuant to a recapitalization, then, in the sole and
absolute discretion of the Committee, a portion of the Participant's Stock Units
shall be cancelled and a deferred compensation dollar account, with an initial
balance equal to the price paid in redemption of a number of shares equal to the
number of Stock Units so cancelled, shall be established in place of the Stock
Units so cancelled. Any account so established shall be fully vested and shall
be deemed to bear interest until distributed to the Participant or his
beneficiary at a rate to be agreed upon by the Company and the Participant. The
balance in such deferred compensation dollar account shall be distributed to the
Participant pursuant to Section 5.4 hereof in the same manner as the
Participant's Stock Unit Account is distributed.

5.6. COMPANY'S RIGHT TO WITHHOLD.

         The Company shall satisfy any state or federal income tax withholding
obligation arising upon distribution of the Participant's Account by reducing
the number of shares of Class C Stock otherwise deliverable to the Participant.
The appropriate number of shares required to satisfy such tax withholding
obligation in the case of Stock Units will be based on the Fair Market Value of
a share of Class C Stock on the day prior to the date of distribution. If the
Company,

                                       5
<PAGE>

for any reason, cannot satisfy the withholding obligation in accordance with the
preceding sentence, the Participant shall pay or provide for payment in cash of
the amount of any taxes which the Company may be required to withhold with
respect to the benefits hereunder.

5.7. REPURCHASE OF SHARES.

         (a) In the event that the Participant ceases to be employed by the
Company for any reason prior to an Initial Public Offering or an Approved Sale,
the Parent shall, during the sixty (60) days following the Repurchase Period
Commencement Date (the "Repurchase Period"), have the right to repurchase all,
but not less than all, of the Shares distributed to the Participant pursuant to
Section 5.4 (the "Repurchase Right"). The repurchase price for each such Share
will equal the Fair Market Value[, or, if the Participant terminates his
employment with the Company without Good Reason prior to January 1, 2002 or is
terminated by the Company for Cause, the lower of the Designated Price and Fair
Market Value]. If the Parent elects to repurchase the Shares, it shall notify
the Participant at or before the end of the Repurchase Period of such election
and the repurchase price shall be paid in cash at a time set by the Parent
within thirty (30) days after the end of the Repurchase Period provided that the
Participant has presented to the Parent a stock certificate evidencing the
shares properly endorsed for transfer (the "Endorsed Certificate"). The Shares
shall be transferred to the Parent free and clear of all liens, encumbrances,
mortgages, pledges, security interests, restrictions, prior assignments and
claims of any kind or nature whatsoever except those created by the Articles of
Incorporation or this Plan. Notwithstanding the Participant's failure to deliver
the Endorsed Certificate, the Shares represented thereby shall be deemed to be
owned by the Parent upon the payment by the Parent of the repurchase price to
the Participant or his Permitted Transferee, and upon such payment the
Participant and such Permitted Transferee will have no further rights in such
Shares. If the Parent does not repurchase the Shares pursuant to this Section
5.7(a) or Section 5.7(b), the restrictions on transfer thereof contained in
Section 5.8 of this Plan shall terminate and be of no further force and effect.
Notwithstanding the foregoing, if the Participant's employment terminates prior
to January 1, 2000, the Repurchase Period shall commence on January 1, 2000.

                  (b) In the event that the Participant ceases to be employed by
Company for any reason prior to an Initial Public Offering or an Approved Sale
and the Parent does not exercise its repurchase rights pursuant to Section
5.7(a), the Participant or his representative, during the 120 days following the
Repurchase Period Commencement Date (the "Put Period"), shall have the right to
require IWH to repurchase all, but not less than all, of the Shares (the "Put
Right"), unless, by the thirtieth (30th) day after IWH and the Parent have
received notice of the Participant's election to exercise the Put Right, the
Parent has notified the Participant and IWH of its election, exercisable in the
discretion of the Parent, to purchase the Shares on the same terms as such
Shares were to be purchased by IWH, in which case such Shares will be acquired
by the Parent. [If the Termination Date is prior to January 1, 2002 (unless the
Participant's employment is terminated because of his death or Permanent
Disability) or if the Participant is terminated for Cause, the repurchase price
for each Share will equal the lower of the Designated Price and Fair Market
Value. In all other cases,] the repurchase price for each Share will equal the
Fair Market Value. If the Participant elects to have the Shares repurchased, the
repurchase price shall be paid in cash on the later of (i) the thirtieth (30)
day after the end of the Put Period or (ii) the day Participant presents to IWH
or the Parent, as applicable, the Endorsed Certificate. The Shares shall be
transferred to IWH or the Parent, as applicable, free and clear of all liens,
encumbrances,

                                       6
<PAGE>

mortgages, pledges, security interests, restrictions, prior assignments and
claims of any kind or nature whatsoever except those created by the Articles of
Incorporation or this Plan. Notwithstanding the foregoing, if the Participant's
employment terminates prior to January 1, 2000, the 120 day period described in
the first sentence of this Section 5.7(b) shall commence on January 1, 2000.

                  (c) The Fair Market Value of Shares to be purchased by the
Parent hereunder shall be determined in good faith by the Parent's Board of
Directors. The Board of Directors shall make its determination of Fair Market
Value annually (the "Annual Valuation") promptly after the completion of the
Parent's audited financial statements for the year then completed and such
determination shall remain in effect until the Board of Directors makes the next
Annual Valuation. Notwithstanding the foregoing, if the Board of Directors or an
investment banker or appraiser appointed by the Parent makes a determination of
Fair Market Value subsequent to an Annual Valuation, such subsequent
determination shall supersede the Annual Valuation then in effect and shall
establish the Fair Market Value until the next Annual Valuation. The Fair Market
Value shall be based on an assumed sale of 100% of the outstanding capital stock
of the Parent (without reduction for minority interest or lack of liquidity of
the Shares or similar discount). If such determination of the Fair Market Value
is challenged by the Participant, a mutually acceptable investment banker or
appraiser shall establish the Fair Market Value as of the date of valuation
referenced in the Annual Valuation or a subsequent determination. The investment
banker's or appraiser's determination shall be conclusive and binding on the
Parent and the Participant. The Parent shall bear all costs incurred in
connection with the services of such investment banker or appraiser unless the
Fair Market Value established by such investment banker or appraiser is less
than 115% of the determination challenged by the Participant, in which case the
Participant shall promptly pay or reimburse the Parent for half of such costs.
If the Participant and the Parent cannot agree upon an investment banker or
appraiser, they shall each choose an investment banker or appraiser and the two
shall choose a third investment banker or appraiser who shall establish the Fair
Market Value. Notwithstanding the foregoing, the Parent shall obtain valuation
of all of its Common Stock at least once annually for purposes of the
Participant's estate and gift planning; provided, however, that such valuation
is not binding on the Board of Directors for purposes of determining Fair Market
Value.

                  (d) The Participant shall not be considered to have ceased to
be employed by the Company for purposes of this Plan if he continues to be
employed by an affiliate of the Company or the Parent.

5.8. RESTRICTIONS ON TRANSFERS OF SHARES.

         Subject to Section 5.7 hereof, prior to an Initial Public Offering or
an Approved Sale, the Shares shall not be transferable or transferred, assigned,
pledged or hypothecated in any way (whether by operation of law or otherwise)
except that a Participant may transfer the Shares to a Permitted Transferee or
pursuant to the Articles of Incorporation. For purposes of this Plan, a
"Permitted Transferee" includes (a) his spouse, child, estate, personal
representative, heir or successor (b) a trust for the benefit of the Participant
or his spouse, child or heir and (c) a partnership the partners of which consist
solely of the Participant and/or his spouse, child, heir, and/or successor. This
Plan shall be binding on and enforceable against any person who is a

                                       7
<PAGE>

Permitted Transferee of the Shares. The stock certificates issued to evidence
Shares hereunder shall bear a legend referring to this Plan and the restrictions
contained herein.

         ARTICLE VI

         ADMINISTRATION

6.1. THE ADMINISTRATOR.

         The Committee hereunder shall consist of the Board or a committee of
Directors appointed from time to time by the Board to serve as administrator of
this Plan. Any member of the Committee may resign by delivering a written
resignation to the Board. Members of the Committee shall not receive any
additional compensation for administration of this Plan.

6.2. COMMITTEE ACTION.

         Action of the Committee with respect to the administration of this Plan
shall be taken pursuant to a majority vote or by unanimous written consent of
its members.

6.3. RIGHTS AND DUTIES.

         Subject to the limitations of this Plan, the Committee shall be charged
with the general administration of this Plan and the responsibility for carrying
out its provisions, and shall have powers necessary to accomplish those
purposes, including, but not by way of limitation, the following:

         (a) To construe and interpret this Plan;

         (b) To resolve any questions concerning the amount of benefits payable
             to a Participant;

         (c) To make all other determinations required by this Plan;

         (d) To maintain all the necessary records for the administration of
             this Plan; and

         (e) To make and publish forms, rules and procedures for the
             administration of this Plan.

         The determination of the Committee made in good faith as to any
disputed question or controversy and the Committee's determination of benefits
payable to Participants shall be conclusive. In performing its duties, the
Committee shall be entitled to rely on information, opinions, reports or
statements prepared or presented by: (i) officers or employees of the Company
whom the Committee believes to be reliable and competent as to such matters; and
(ii) counsel (who may be employees of the Company), independent accountants and
other persons as to matters which the Committee believes to be within such
persons' professional or expert competence. The Committee shall be fully
protected with respect to any action taken or omitted by it in good faith
pursuant to the advice of such persons. The Committee may delegate ministerial,
bookkeeping and other non-discretionary functions to individuals who are
officers or employees of the Company.

6.4. INDEMNITY AND LIABILITY.

         All expenses of the Committee shall be paid by the Company and the
Company shall furnish the Committee with such clerical and other assistance as
is necessary in the performance

                                       8
<PAGE>

of its duties. No member of the Committee shall be liable for any act or
omission of any other member of the Committee nor for any act or omission on his
or her own part, excepting only his or her own willful misconduct or gross
negligence. To the extent permitted by law, the Company shall indemnify and save
harmless each member of the Committee against any and all expenses and
liabilities arising out of his or her membership on the Committee, excepting
only expenses and liabilities arising out of his or her own willful misconduct
or gross negligence, as determined by the Board.

         ARTICLE VII

         PLAN CHANGES AND TERMINATION

7.1. AMENDMENTS.

         The Board shall have the right to amend this Plan in whole or in part
from time to time or may at any time suspend or terminate this Plan; PROVIDED,
however, that no amendment or termination shall cancel or otherwise adversely
affect in any way, without his written consent, the Participant's rights with
respect to Stock Units and Dividend Equivalents credited to his Stock Unit
Account. Any amendments authorized hereby shall be stated in an instrument in
writing, and the Participant shall be bound thereby upon receipt of notice
thereof.

7.2. TERM.

         It is the current expectation of the Company that this Plan shall be
continued for a period of 10 years after the Effective Date, but continuance of
this Plan is not assumed as a contractual obligation of the Company. In the
event that the Board decides to discontinue or terminate this Plan, it shall
notify the Committee and the Participant of its action in writing, and this Plan
shall be terminated at the time therein set forth. The Participant shall be
bound thereby. In such event, the then credited benefits of the Participant
shall be distributed at the time(s) and in the manner elected and provided under
Section 5.4.

         ARTICLE VIII

         MISCELLANEOUS

8.1. LIMITATION ON PARTICIPANT'S RIGHTS.

         (a) Benefits Limited As Provided By Plan. Participation in this Plan
shall not give the Participant the right to continued employment with the
Company or any distribution or other rights or interests other than as herein
provided. The Participant shall not have any right to any distribution or other
benefit hereunder except to the extent provided in this Plan. This Plan shall
create only a contractual obligation on the part of the Company as to such
benefits and shall not be construed as creating a trust. This Plan, in and of
itself, has no assets. The Participant shall have rights no greater than the
right to receive the Class C Stock as a general unsecured creditor of the
Company.

         (b) Deferred Compensation Dollar Account. To the extent that a deferred
compensation dollar account is created pursuant to Section 5.5(b) hereof, this
Plan will be maintained primarily as a plan of deferred compensation solely for
the Participant, a member of management and a highly compensated employee of the
Company. The Plan is an unfunded plan of deferred compensation which is not
intended to meet the qualifications of Section 401 of the Internal

                                       9
<PAGE>

Revenue Code. The Participant's deferred compensation dollar account represents
the unsecured contractual obligation of the Company. Although not obligated to
do so, the Company may choose to set aside funds or other assets to assist in
funding its obligations under this Plan. The Participant shall have no right,
title or interest in or to any investments which the Company may make to aid in
meeting its obligations under this Plan. Nothing contained in this document and
no action taken pursuant to its provisions, will create or be construed to
create a trust of any kind or a fiduciary relationship between the Company or
the Committee and the Participant or any other person. To the extent that any
person acquires a right to receive payments from the Company pursuant to this
Plan, such right shall be no greater than the right of an unsecured general
creditor of the Company. The Participant may not assign, transfer, alienate, or
encumber in any manner his interest in his deferred compensation dollar account
under this Plan. He may not borrow funds or grant a security interest or
otherwise pledge his rights in his deferred compensation dollar account under
this Plan.

8.2. BENEFICIARIES.

         (a) Beneficiary Designation. Subject to conditions imposed by the
Company, the Participant may designate in writing the Beneficiary or
Beneficiaries (as defined in Section 8.2(b)) whom the Participant desires to
receive any shares of Class C stock payable under this Plan after his death. The
Company and the Committee may rely on the Participant's designation of a
Beneficiary or Beneficiaries last filed in accordance with the terms of this
Plan.

         (b) Definition Of Beneficiary. The Participant's "Beneficiary" or
"Beneficiaries" shall be the person, persons, trust or trusts (or similar
entity) designated by the Participant or, in the absence of a designation,
entitled by will or the laws of descent and distribution to receive the
Participant's benefits under this Plan in the event of the Participant's death,
and shall mean the Participant's executor or administrator if no other
Beneficiary is identified and able to act under the circumstances.

8.3. BENEFITS NOT ASSIGNABLE; OBLIGATIONS BINDING UPON SUCCESSORS.

         Benefits of the Participant under this Plan shall not be assignable or
transferable and any purported transfer, assignment, pledge or other encumbrance
or attachment of any benefits under this Plan, or any interest therein, other
than by operation of law or pursuant to Section 8.2, shall not be permitted or
recognized. Obligations of the Company under this Plan shall be binding upon
successors of the Company.

8.4. GOVERNING LAW; SEVERABILITY.

         The validity of this Plan or any of its provisions shall be construed,
administered and governed in all respects under and by the laws of the State of
Pennsylvania. If any provisions of this instrument shall be held by a court of
competent jurisdiction to be invalid or unenforceable, the remaining provisions
hereof shall continue to be fully effective.

8.5. COMPLIANCE WITH LAWS.

         This Plan and the offer, issuance and delivery of shares of Class C
Stock through the deferral of compensation or grant of Stock Units under this
Plan are subject to compliance with all applicable federal and state laws, rules
and regulations (including but not limited to state and

                                       10
<PAGE>

federal securities law) and to such approvals by any listing, agency or any
regulatory or governmental authority as may, in the opinion of counsel for the
Company, be necessary or advisable in connection therewith. Any securities
delivered under this Plan shall be subject to such restrictions, and the person
acquiring such securities shall, if requested by the Company, provide such
assurances and representations to the Company as the Company may deem necessary
or desirable to assure compliance with all applicable legal requirements.

8.6. HEADINGS NOT PART OF PLAN.

         Headings and subheadings in this Plan are inserted for reference only
and are not to be considered in the construction of the provisions hereof.

8.7. CLAIMS PROCEDURE FOR DEFERRED COMPENSATION DOLLAR ACCOUNT

         (a) Claims for Benefits. Any claim for benefits with respect to any
deferred compensation dollar account hereunder by the Participant or anyone
claiming through the Participant under the Plan shall be delivered in writing by
the claimant to the Committee (or in such electronic form as designated by the
Committee). The claim shall identify the benefits being requested and shall
include a statement of the reasons why the benefits should be granted. The
Committee shall grant or deny the claim. If the claim is denied in whole or in
part, the Committee shall give written notice (or in such electronic form as
designated by the Committee) to the claimant setting forth: (a) the reasons for
the denial, (b) specific reference to pertinent Plan provisions on which the
denial is based, (c) a description of any additional material or information
necessary to request a review of the claim and an explanation of why such
material or information is necessary, and (d) an explanation of the Plan's claim
review procedure. The notice shall be furnished to the claimant within a period
of time not exceeding 90 days after receipt of the claim, except that such
period of time may be extended, if special circumstances should require, for an
additional 90 days commencing at the end of the initial 90-day period. Written
notice (or in such electronic form as designated by the Committee) of any such
extension shall be given to the claimant before the expiration of the initial
90-day period and shall indicate the special circumstances requiring the
extension and the date by which the final decision is expected to be rendered.

         (b) Appeals Procedure. A claimant who has been denied a claim for
benefits with respect to any deferred compensation dollar account hereunder, in
whole or in part, may, within a period of 60 days following his receipt of the
denial, request a review of such denial by filing a written notice (or in such
electronic form as designated by the Committee) of appeal with the Committee. In
connection with an appeal, the claimant (or his authorized representative) may
review pertinent documents and may submit evidence and arguments in writing (or
in such electronic from as designated by the Committee) to the Committee. The
Committee may decide the questions presented by the appeal, either with or
without holding a hearing, and shall issue to the claimant a written notice (or
in such electronic form as designated by the Committee) setting forth: (a) the
specific reasons for the decision and (b) specific reference to the pertinent
Plan provisions on which the decision is based. The notice shall be issued
within a period of time not exceeding 60 days after receipt of the request for
review; except that such period of time may be extended, if special
circumstances (including, but not limited to, the need to hold a hearing) should
require, for an additional 60 days commencing at the end of the initial 60-day
period. Written notice (or in such electronic form as designated by the
Committee) of any such extension

                                       11
<PAGE>

shall be provided to the claimant prior to the expiration of the initial 60-day
period. The decision of the Committee shall be final and conclusive.

         (c) Exhaustion of Remedies. The procedures under this Section 8.7 shall
be the exclusive procedures for claiming benefits with respect to deferred
compensation dollar accounts under the Plan. No legal or equitable action for
benefits with respect to deferred compensation dollar accounts under the Plan
shall be brought unless and until the claimant (i) has submitted a written
application for benefits (or in such electronic form as designated by the
Committee) in accordance with Section 8.7(a), (ii) has been notified by the
Committee that the application is denied, (iii) has filed a written request for
a review of the application in accordance with Section 8.7(b) and (iv) has been
notified in writing that the Committee has affirmed the denial of the
application; provided that legal action may be brought after the Committee has
failed to take any action on the claim within the time prescribed in Section
8.7(b).

         (d) Limitation on Commencing Actions. In no event may any legal or
equitable action for benefits with respect to deferred compensation dollar
accounts under the Plan be brought in a court of law or equity with respect to
any claim for benefits more than one (1) year after the final denial (or deemed
final denial) of the claim by the Committee.

                                       12

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00054-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00054-of-00352.parquet"}]]