Document:

<PAGE>

                                                                     Exhibit 4.3

                          BRIDGE STREET FINANCIAL, INC.
              INCORPORATED UNDER THE LAWS OF THE STATE OF DELAWARE

THIS CERTIFIES THAT

is the owner of

                     FULLY PAID AND NONASSESSABLE SHARES OF
                   COMMON STOCK, $.01 PAR VALUE PER SHARE, OF

                          BRIDGE STREET FINANCIAL, INC.

(the "Corporation"), a corporation formed under the laws of the State of
Delaware. The shares represented by this Certificate are transferrable only on
the stock transfer books of the Corporation by the holder of record hereof, or
by his or her duly authorized attorney or legal representative, upon the
surrender of this Certificate properly endorsed. This Certificate is not valid
until countersigned and registered by the Corporation's transfer agent and
registrar. The shares represented by this Certificate are not insured by the
Federal Deposit Insurance Corporation or by any other government agency.

         IN WITNESS WHEREOF, the Corporation has caused this Certificate to be
executed by the facsimile signature of its duly authorized officers and has
caused a facsimile of its corporate seal to be hereunto affixed.

Dated:

By:                                               By:

                  _________________________             ________________________
                  Corporate Secretary                   Gregory J. Kreis
                                                        President and Chief
                                                         Executive Officer

                                                  Registrar and Transfer Company
                                                  Registrar and Transfer Agent

<PAGE>

                          Bridge Street Financial, Inc.

     The shares represented by this Certificate are issued subject to all the
provisions of the Certificate of Incorporation and By-Laws of Bridge Street
Financial, Inc. (the "Corporation") as from time to time amended (copies of
which are on file at the principal office of the Corporation), to all of which
the holder by acceptance hereof assents. The following description constitutes a
summary of certain provisions of, and is qualified in its entirety by reference
to, the Certificate of Incorporation.

     The Certificate of Incorporation of the Corporation contains certain
provisions, applicable upon the effective date and for the five (5) years
following the effective date of the conversion of Oswego County Savings Bank
(the "Bank") from a New York savings bank to a national bank and the concurrent
acquisition by the Corporation of all of the outstanding capital stock of Oswego
County National Bank, that restrict persons from directly or indirectly
acquiring or holding, or attempting to acquire or hold, the beneficial ownership
of, in excess of 10% of the outstanding shares of capital stock of the
Corporation entitled to vote generally in the election of directors ("Voting
Stock"). The Certificate of Incorporation contains a provision pursuant to which
the holders of shares in excess of 10% of the Voting Stock of the Corporation
are not entitled to vote such shares in excess of the 10% limitation. In
addition, the Corporation is authorized to refuse to recognize a transfer or
attempted transfer of any shares of Voting Stock to any person who beneficially
owns, or who the Corporation believes would become by virtue of such transfer
the beneficial owner of, in excess of 10% of the Voting Stock. These
restrictions are not applicable to the Corporation, any subsidiary of the
Corporation, or any pension, profit-sharing, stock bonus or other compensation
plan maintained by the Corporation or by a member of a controlled group of
corporations or trades or businesses of which the Corporation is a member for
the benefit of the employees of the Corporation and for any subsidiary, or any
trust or custodial arrangement established in connection with any such plan.

     The Certificate of Incorporation of the Corporation contains provisions
providing that the affirmative vote of the holders of at least 80% of the Voting
Stock of the Corporation may be required to approve certain business
combinations and other transactions with persons who directly or indirectly
acquire or hold the beneficial ownership of in excess of 10% of the Voting Stock
of the Corporation.

     The Corporation will furnish to any shareholder upon written request and
without charge, a statement of the powers, designations, preferences and
relative, participating, optional or other special rights of each class of stock
or series thereof and the qualifications, limitations or restrictions of such
preferences and/or rights. Such request may be made to the Corporation or to its
transfer agent and registrar.

                           ----------------------------

     The following abbreviations when used in the inscription on the face of
this Certificate shall be construed as though they were written out in full
according to applicable laws or regulations:

<TABLE>
<S>                                                                <C>
TEN COM  -    as tenants in common                                 UNIF TRANSFERS TO MIN ACT...................Custodian..
TEN ENT  -    as tenants by the entireties                         .......................................................
JT TEN   -    as joint tenants with right of survivorship          (Cust)                   (Minor)
               and not as tenants in common                        ................................
                                                                   (State)
</TABLE>

     Additional abbreviations may also be used though not in the above list

     For value received,____________________________________ hereby sell(s),
assign(s) and transfer(s) unto _______________________________________
__________________________________ shares of Common Stock evidenced by this
Certificate, and do(es) hereby irrevocably constitute(s) and appoint(s)
_____________________________ as Attorney, to transfer the said shares on the
books of the herein named Corporation, with full power of substitution.

Date: _________________
                                 Signature______________________________________

                                 Signature______________________________________

                                 NOTICE:  The signature to this assignment must
                                          correspond with the name as written
                                          upon the face of the Certificate, in
                                          every particular, without alteration
                                          or enlargement, or any change
                                          whatsoever.<PAGE>

                                                                    Exhibit 10.1

                           OSWEGO COUNTY BANCORP, INC.
                          EMPLOYEE STOCK OWNERSHIP PLAN

<PAGE>

                                TABLE OF CONTENTS

                                   ARTICLE I.

                                   DEFINITIONS

                                   ARTICLE II.

                                 ADMINISTRATION

<TABLE>
  <S>                                                                              <C>
  2.1  POWERS AND RESPONSIBILITIES OF THE EMPLOYER ..........................     12
  2.2  DESIGNATION OF ADMINISTRATIVE AUTHORITY ..............................     13
  2.3  ALLOCATION AND DELEGATION OF RESPONSIBILITIES ........................     13
  2.4  POWERS AND DUTIES OF THE ADMINISTRATOR ...............................     13
  2.5  RECORDS AND REPORTS ..................................................     14
  2.6  APPOINTMENT OF ADVISERS ..............................................     14
  2.7  PAYMENT OF EXPENSES ..................................................     15
  2.8  CLAIMS PROCEDURE .....................................................     15
  2.9  CLAIMS REVIEW PROCEDURE ..............................................     15

                                    ARTICLE III.

                                     ELIGIBILITY

  3.1  CONDITIONS OF ELIGIBILITY ............................................     16
  3.2  EFFECTIVE DATE OF PARTICIPATION ......................................     16
  3.3  DETERMINATION OF ELIGIBILITY .........................................     16
  3.4  TERMINATION OF ELIGIBILITY ...........................................     16
  3.5  OMISSION OF ELIGIBLE EMPLOYEE ........................................     16
  3.6  INCLUSION OF INELIGIBLE EMPLOYEE .....................................     16
  3.7  ELECTION NOT TO PARTICIPATE ..........................................     17

                                     ARTICLE IV.

                             CONTRIBUTION AND ALLOCATION

  4.1  FORMULA FOR DETERMINING EMPLOYER CONTRIBUTION ........................     17
  4.2  TIME OF PAYMENT OF EMPLOYER CONTRIBUTION .............................     17
  4.3  ALLOCATION OF CONTRIBUTION, FORFEITURES AND EARNINGS .................     17
  4.4  MAXIMUM ANNUAL ADDITIONS .............................................     22
  4.5  ADJUSTMENT FOR EXCESSIVE ANNUAL ADDITIONS ............................     25
  4.6  DIRECT INVESTMENT ACCOUNT ............................................     26
</TABLE>

                                        i

<PAGE>

                                       ARTICLE V.

                             FUNDING AND INVESTMENT POLICY

<TABLE>
   <S>                                                                            <C>
   5.1     INVESTMENT POLICY ..............................................       27
   5.2     APPLICATION OF CASH ............................................       28
   5.3     TRANSACTIONS INVOLVING COMPANY STOCK ...........................       28
   5.4     LOANS TO THE TRUST .............................................       29

                                     ARTICLE VI.

                                      VALUATION

   6.1     VALUATION OF THE TRUST FUND ....................................       30
   6.2     METHOD OF VALUATION ............................................       30

                                    ARTICLE VII.

                     DETERMINATION AND DISTRIBUTION OF BENEFITS

   7.1     DETERMINATION OF BENEFITS UPON RETIREMENT ......................       30
   7.2     DETERMINATION OF BENEFITS UPON DEATH ...........................       31
   7.3     DETERMINATION OF BENEFITS IN EVENT OF DISABILITY ...............       32
   7.4     DETERMINATION OF BENEFITS UPON TERMINATION .....................       32
   7.5     DISTRIBUTION OF BENEFITS .......................................       35
   7.6     HOW PLAN BENEFIT WILL BE DISTRIBUTED ...........................       38
   7.7     DISTRIBUTION FOR MINOR BENEFICIARY .............................       39
   7.8     LOCATION OF PARTICIPANT OR BENEFICIARY UNKNOWN .................       39
   7.9     NONTERMINABLE PROTECTIONS AND RIGHTS ...........................       40
   7.10    QUALIFIED DOMESTIC RELATIONS ORDER DISTRIBUTION ................       40

                                    ARTICLE VIII.

                                       TRUSTEE

   8.1     BASIC RESPONSIBILITIES OF THE TRUSTEE ..........................       40
   8.2     INVESTMENT POWERS AND DUTIES OF THE TRUSTEE ....................       41
   8.3     OTHER POWERS OF THE TRUSTEE ....................................       42
   8.4     VOTING COMPANY STOCK ...........................................       44
   8.5     DUTIES OF THE TRUSTEE REGARDING PAYMENTS .......................       46
   8.6     TRUSTEE'S COMPENSATION AND EXPENSES AND TAXES ..................       47
   8.7     ANNUAL REPORT OF THE TRUSTEE ...................................       47
   8.8     AUDIT ..........................................................       48
   8.9     RESIGNATION, REMOVAL AND SUCCESSION OF TRUSTEE .................       48
   8.10    TRANSFER OF INTEREST ...........................................       49
</TABLE>

                                         ii

<PAGE>

<TABLE>
  <S>                                                                             <C>
   8.11    DIRECT ROLLOVER .................................................      49

                                  ARTICLE IX.

                       AMENDMENT, TERMINATION AND MERGERS

   9.1     AMENDMENT .......................................................      50
   9.2     TERMINATION .....................................................      51
   9.3     MERGER OR CONSOLIDATION .........................................      51

                                     ARTICLE X.

                                     TOP HEAVY

   10.1    TOP HEAVY PLAN REQUIREMENTS .....................................      51
   10.2    DETERMINATION OF TOP HEAVY STATUS ...............................      51

                                    ARTICLE XI.

                                   MISCELLANEOUS

   11.1    PARTICIPANT'S RIGHTS ............................................      54
   11.2    ALIENATION ......................................................      55
   11.3    CONSTRUCTION OF PLAN ............................................      55
   11.4    GENDER AND NUMBER ...............................................      55
   11.5    LEGAL ACTION ....................................................      55
   11.6    PROHIHITION AGAINST DIVERSION OF FUNDS ..........................      56
   11.7    BONDING .........................................................      56
   11.8    EMPLOYER'S AND TRUSTEE'S PROTECTIVE CLAUSE ......................      56
   11.9    INSURER'S PROTECTIVE CLAUSE .....................................      56
   11.10   RECEIPT AND RELEASE FOR PAYMENTS ................................      57
   11.11   ACTION BY THE EMPLOYER ..........................................      57
   11.12   NAMED FIDUCIARIES AND ALLOCATION OF RESPONSIBILITY ..............      57
   11.13   HEADINGS ........................................................      58
   11.14   APPROVAL BY INTERNAL REVENUE SERVICE ............................      58
   11.15   UNIFORMITY ......................................................      58
   11.16   SECURITIES AND EXCHANGE COMMISSION APPROVAL .....................      58

                                    ARTICLE XII.

                               PARTICIPATING EMPLOYERS

   12.1    ADOPTION BY OTHER EMPLOYERS .....................................      59
   12.2    REQUIREMENTS OF PARTICIPATING EMPLOYERS .........................      59
</TABLE>

                                         iii

<PAGE>

<TABLE>
 <S>                                                                          <C>
  12.3    DESIGNATION OF AGENT ........................................         60
  12.4    EMPLOYEE TRANSFERS ..........................................         60
  12.5    PARTICIPATING EMPLOYER CONTRIBUTION .........................         60
  12.6    AMENDMENT ...................................................         60
  12.7    DISCONTINUANCE OF PARTICIPATION .............................         60
  12.8    ADMINISTRATOR'S AUTHORITY ...................................         61
</TABLE>

                                         iv

<PAGE>

                                                                    Exhibit 10.1

                           OSWEGO COUNTY BANCOR, INC.
                          EMPLOYEE STOCK OWNERSHIP PLAN

         THIS AGREEMENT, hereby made and entered into this 18/th/ day of June,
1999, by and between Oswego County Bancorp, Inc. (herein referred to as the
"Employer") and Gregory J. Kreis and Robert H. Hillick (herein referred to as
the "Trustee").

                              W I T N E S S E T H:

         WHEREAS, the Employer desires an Employee Stock Ownership Plan so as to
enable its eligible employees to acquire a proprietary interest in capital stock
of the Employer; and

         WHEREAS, the Employer desires to recognize the contribution made to its
successful operation by its employees and to reward such contribution by means
of an Employee Stock Ownership Plan for those employees who shall qualify as
Participants hereunder; and

         WHEREAS, contributions to the Plan will be made by the Employer and
such contributions made to the trust will be invested primarily in the capital
stock of the Employer;

         NOW, THEREFORE, effective January 1, 1999 (hereinafter called the
"Effective Date"), the Employer hereby establishes an Employee Stock Ownership
Plan (ESOP) and creates this trust (which plan and trust are hereinafter called
the "Plan") for the exclusive benefit of the Participants and their
Beneficiaries, which is intended to qualify as an "ESOP," and the Trustee hereby
accepts the Plan on the following terms:

<PAGE>

                                   DEFINITIONS

     1.1  "Act" means the Employee Retirement Income Security Act of 1974, as it
may be amended from time to time.

     1.2  "Administrator" means the Employer unless another person or entity has
been designated by the Employer pursuant to Section 2.2 to administer the Plan
on behalf of the Employer.

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

     1.4  "Aggregate Account" means, with respect to each Participant, the value
of all accounts maintained on behalf of a Participant, whether attributable to
Employer or Employee contributions, subject to the provisions of Section 10.2.

     1.5  "Anniversary Date" means January 1st.

     1.6  "Beneficiary" means the person to whom the share of a deceased
Participant's total account is payable, subject to the restrictions of Sections
7.2 and 7.5.

     1.7  "Code" means the Inter Revenue Code of 1986, as amended or replaced
from time to time.

     1.8  "Company Stock" means common stock issued by the Employer (or by a
corporation which is a member of the controlled group of corporations of which
the Employer is a member) which is readily tradeable on an established
securities market. If there is no common stock which meets the foregoing
requirement, the term "Company Stock" means common stock issued by the Employer
(or by a corporation which is a member of the same controlled group) having a
combination of voting power and dividend rights equal to or in excess of: (A)
that class of common stock of the Employer (or of any other such corporation)
having the greatest voting power, and (B) that class of common stock of the
Employer (or of any other such corporation) having the greatest dividend rights.
Noncallable preferred stock shall be deemed to be "Company Stock" if such stock
is convertible at any time into stock which constitutes "Company Stock"
hereunder and if such conversion is at a conversion price which (as of the date
of the acquisition by the Trust) is reasonable. For purposes of the preceding
sentence, pursuant to Regulations, preferred stock shall be treated as
noncallable if after the call there will be a reasonable opportunity for a
conversion which meets the requirements of the preceding sentence.

     1.9  "Company Stock Account" means the account of a Participant which is
credited with the shares of Company Stock purchased and paid for by the Trust
Fund or contributed to the Trust Fund.

                                       2

<PAGE>

     1.10 "Compensation" with respect to any Participant means such
Participant's wages as defined in Code Section 3401(a) and all other payments of
compensation by the Employer (in the course of the Employer's trade or business)
for a Plan Year for which the Employer is required to furnish the Participant a
written statement under Code Sections 6041(d), 6051(a)(3) and 6052. Compensation
must be determined without regard to any rules under Code Section 3401(a) that
limit the remuneration included in wages based on the nature or location of the
employment or the services performed (such as the exception for agricultural
labor in Code Section 3401(a) (2)).

     For purposes of this Section, the determination of Compensation shall be
made by:

          including amounts which are contributed by the Employer pursuant to a
     salary reduction agreement and which are not includible in the gross income
     of the Participant under Code Sections 125, 402(e)(3), 402(h)(1)(B), 403(b)
     or 457(b) and Employee contributions described in Code Section 414(h)(2)
     that are treated as Employer contributions.

     For a Participant's initial year of participation, Compensation shall be
recognized for the entire Plan Year.

     Compensation in excess of $150,000 shall be disregarded. Such amount shall
be adjusted for increases in the cost of living in accordance with Code Section
401(a)(17), except that the dollar increase in effect on January 1 of any
calendar year shall be effective for the Plan Year beginning with or within such
calendar year. For any short Plan Year the Compensation limit shall be an amount
equal to the Compensation limit for the calendar year in which the Plan Year
begins multiplied by the ratio obtained by dividing the number of full months in
the short Plan Year by twelve (12).

     For purposes of this Section, if the Plan is a plan described in Code
Section 413(c) or 414(f) (a plan maintained by more than one Employer), the
limitation applies separately with respect to the Compensation of any
Participant from each Employer maintaining the Plan.

     1.11 "Contract or "Policy" means any life insurance policy, retirement
income or annuity policy, or annuity contract (group or individual) issued
pursuant to the terms of the Plan.

     1.12 "Current Obligations" means Trust obligations arising from extension
of credit to the Trust and payable in cash within (l) year from the date an
Employer contribution is due.

     1.13 "Early Retirement Date" means the first day of the month (prior to the
Normal Retirement Date) coinciding with or following the date on which a
Participant or Former Participant attains age 55, and has completed at least 10
Years of Service with the Employer (Early Retirement Age). A Participant shall
become fully Vested upon satisfying this requirement if still employed at his
Early Retirement Age.

     A Former Participant who terminates employment after satisfying the service
requirement for Early Retirement and who thereafter reaches the age requirement
contained herein shall be entitled to receive his benefits under this Plan.

                                       3

<PAGE>

     1.14  "Eligible Employee" means any Employee.

     Employees of Affiliated Employers shall not be eligible to participate in
this Plan unless such Affiliated Employers have specifically adopted this Plan
in writing.

     1.15  "Employee" means any person who is employed by the Employer or
Affiliated Employer, but excludes any person who is an independent contractor.
Employee shall include Leased Employees within the meaning of Code Sections
414(n)(2) and 414 (o)(2) unless such Leased Employees are covered by a plan
described in Code Section 414(n) (5) and such Leased Employees do not constitute
more than 20% of the recipient's non-highly compensated work force.

     1.16  "Employer" means Oswego County Bancorp, Inc. and any successor which
shall maintain this Plan; and any predecessor which has maintained this Plan.
The Employer is a corporation with principal offices in the State of New York.
In addition, where appropriate, the term Employer shall include any
Participating Employer (as defined in Section 12.1) which shall adopt this Plan.

     1.17  "ESOP" means an employee stock ownership plan that meets the
requirements of Code Section 4975(e)(7) and Regulation 54.4975-11.

     1.18  "Exempt Loan" means a loan made to the Plan by a disqualified person
or a loan to the Plan which is guaranteed by a disqualified person and which
satisfies the requirements of Section 2550.408b-3 of the Department of Labor
Regulations, Section 54.4975-7(b) of the Treasury Regulations and Section 5.4
hereof.

     1.19  "Family Member" means, with respect to an affected Participant, such
Participant's spouse and such Participant's lineal descendants and ascendants
and their spouses, all as described in Code Section 414 (q)(6) (B).

     1.20  "Fiduciary" means any person who (a) exercises any discretionary
authority or discretionary control respecting management of the Plan or
exercises any authority or control respecting management or disposition of its
assets, (b) renders investment advice for a fee or other compensation, direct or
indirect, with respect to any monies or other property of the Plan or has any
authority or responsibility to do so, or (c) has any discretionary authority or
discretionary responsibility in the administration of the Plan, including, but
not limited to, the Trustee, the Employer and its representative body, and the
Administrator.

     1.21  "`Fiscal Year" means the Employer's accounting year of 12 months
commencing on January 1st of each year and ending the following December 31st.

     1.22  "Forfeiture" means that portion of a Participant's Account that is
not Vested, and occurs on the earlier of:

           the distribution of the entire Vested portion of a Terminated
     Participant's Account, or

                                       4

<PAGE>

          the last day of the Plan Year in which the Participant incurs five (5)
     consecutive 1-Year Breaks in Service.

     Furthermore, for purposes of paragraph (a) above, in the case of a
Terminated Participant whose Vested benefit is zero, such Terminated Participant
shall be deemed to have received a distribution of his Vested benefit upon his
termination of employment. Restoration of such accounts shall occur pursuant to
Section 7.4(f)(2). In addition, the term Forfeiture shall also include amounts
deemed to be Forfeitures pursuant to any other provision of this Plan.

     1.23  "Former Participant" means a person who has been a Participant, but
who has ceased to be a Participant for any reason.

     1.24  "415 Compensation" with respect to any Participant means such
Participant's wages as defined in Code Section 3401 (a) and all other payments
of compensation by the Employer (in the course of the Employer's trade or
business) for a Plan Year for which the Employer is required to furnish the
Participant a written statement under Code Sections 6041(d), 6051(a) (3) and
6052. "415 Compensation" must be determined without regard to any rules under
Code Section 3401(a) that limit the remuneration included in wages based on the
nature or location of the employment or the services performed (such as the
exception for agricultural labor in Code Section 3401(a) (2)).

     1.25  "Highly Compensated Employee" means an Employee described in Code
Section 414(q) and the Regulations thereunder, and generally means an Employee
who performed services for the Employer during the "determination year" and is
in one or more of the following groups:

          Employees who at any time during the "determination year" or
     "look-back year" were "five percent owners" as defined in Section 1.30(c).

          Employees who received "415 Compensation" during the "look-back year"
     from the Employer in excess of $80,000 and were in the Top Paid Group of
     Employees during the "look-back year."

     The "determination year" shall be the Plan Year for which testing is being
performed, and the "look-back year" shall be the immediately preceding
twelve-month period.

     For purposes of this Section, the determination of "415 Compensation" shall
be made by including amounts which are contributed by the Employer pursuant to a
salary reduction agreement and which are not includible in the gross income of
the Participant under Code Sections 125, 402(e) (3), 402(h) (1) (B), 403(b) or
457(b), and Employee contributions described in Code Section 414(h) (2) that are
treated as Employer contributions. Additionally, the dollar threshold amount
specified in (b) above shall be adjusted at such time and in the same manner as
under Code Section 415(d), except that the base period shall be the calendar
quarter ending September 30, 1996. In the case of such an adjustment, the dollar
limit which shall be applied is the limit for the calendar year in which the
"look-back year" begins.

     In determining who is a Highly Compensated Employee, Employees who are
non-resident aliens and who received no earned income (within the meaning of
Code Section 911(d)

                                       5

<PAGE>

(2)) from the Employer constituting United States source income within the
meaning of Code Section 861(a) (3) shall not be treated as Employees.
Additionally, all Affiliated Employers shall be taken into account as a single
employer and Leased Employees within the meaning of Code Sections 414 (n)(2) and
414 (o)(2) shall be considered Employees unless such Leased Employees are
covered by a plan described in Code Section 414 (n)(5) and are not covered in
any qualified plan maintained by the Employer. The exclusion of Leased Employees
for this purpose shall be applied on a uniform and consistent basis for all of
the Employer's retirement plans. Highly Compensated Former Employees shall be
treated as Highly Compensated Employees without regard to whether they performed
services during the "determination year."

         1.26  "Highly Compensated Former Employee" means a former Employee who
had a separation year prior to the "determination year" and was a Highly
Compensated Employee in the year of separation from service or in any
"determination year" after attaining age 55. Notwithstanding the foregoing, an
Employee who separated from service prior to 1987 will be treated as a Highly
Compensated Former Employee only if during the separation year (or year
preceding the separation year) or any year after the Employee attains age 55 (or
the last year ending before the Employee's 55th birthday), the Employee either
received "415 Compensation" in excess of $50,000 or was a "five percent owner."
For purposes of this Section, "determination year," "415 Compensation" and "five
percent owner" shall be determined in accordance with Section 1.25. Highly
compensated Former Employees shall be treated as Highly Compensated Employees.
The method set forth in this Section for determining who is a "Highly
Compensated Former Employee" shall be applied on a uniform and consistent basis
for all purposes for which the Code Section 414(q) definition is applicable.

         1.27  "Highly Compensated Participant" means any Highly Compensated
Employee who is eligible to participate in the Plan.

         1.28  "Hour of Service" means, for purposes of eligibility for
participation, vesting and benefit accrual, (1) each hour for which an Employee
is directly or indirectly compensated or entitled to compensation by the
Employer for the performance of duties (these hours will be credited to the
Employee for the computation period in which the duties are performed); (2) each
hour for which an Employee is directly or indirectly compensated or entitled to
compensation by the Employer (irrespective of whether the employment
relationship has terminated) for reasons other than performance of duties (such
as vacation, holidays, sickness, jury duty, disability, lay-off, military duty
or leave of absence) during the applicable computation period (these hours will
be calculated and credited pursuant to Department of Labor regulation
2530.200b-2 which is incorporated herein by reference); (3) each hour for which
back pay is awarded or agreed to by the Employer without regard to mitigation of
damages (these hours will 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). The same Hours of
Service shall not be credited both under (1) or (2), as the case may be, and
under (3).

         Notwithstanding the above, (i) no more than 501 Hours of Service are
required to be credited 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); (ii) an hour for which an Employee is
directly or indirectly paid, or entitled to payment, on account of a period
during which no duties are performed is not required to be credited to the
Employee if

                                       6

<PAGE>

such payment is made or due under a plan maintained solely for the purpose of
complying with applicable worker's compensation, or unemployment compensation or
disability insurance laws; and (iii) Hours of Service are not required to be
credited for a payment which solely reimburses an Employee for medical or
medically related expenses incurred by the Employee.

         For purposes of this Section, a payment shall be deemed to be made by
or due from the Employer regardless of whether such payment is made by or due
from the Employer directly, or indirectly through, among others, a trust fund,
or insurer, to which the Employer contributes or pays premiums and regardless of
whether contributions made or due to the trust fund, insurer, or other entity
are for the benefit of particular Employees or are on behalf of a group of
Employees in the aggregate.

         For purposes of this Section, Hours of Service will be credited for
employment with other Affiliated Employers. The provisions of Department of
Labor regulations 2530.200b-2(b) and (c) are incorporated herein by reference.

         1.29  "Investment Manager" means an entity that (a) has the power to
manage, acquire, or dispose of Plan assets and (b) acknowledges fiduciary
responsibility to the Plan in writing. Such entity must be a person, firm, or
corporation registered as an investment adviser under the Investment Advisers
Act of 1940, a bank, or an insurance company.

         1.30  "Key Employee" means an Employee as defined in Code Section
416(i) and the Regulations thereunder. Generally, any Employee or former
Employee (as well as each of his Beneficiaries) is considered a Key Employee if
he, at any time during, the Plan Year that contains the "Determination Date" or
any of the preceding four (4) Plan Years, has been included in one of the
following categories:

               an officer of the Employer (as that term is defined within the
         meaning of the Regulations under Code Section 416) having annual "415
         Compensation" greater than 50 percent of the amount in effect under
         Code Section 415(b) (1) (A) for any such Plan Year.

               one of the ten employees having annual "415 Compensation" from
         the Employer for a Plan Year greater than the dollar limitation in
         effect under Code Section 415(c) (1) (A) for the calendar year in which
         such Plan Year ends and owning (or considered as owning within the
         meaning of Code Section 318) both more than one-half percent interest
         and the largest interests in the Employer.

               a "five percent owner" of the Employer. "Five percent owner"
         means any person who owns (or is considered as owning within the
         meaning of Code Section 318) more than five percent (5%) of the
         outstanding stock of the Employer or stock possessing more than five
         percent (5%) of the total combined voting power of all stock of the
         Employer or, in the case of an unincorporated business, any person who
         owns more than five percent (5%) of the capital or profits interest in
         the Employer. In determining percentage ownership hereunder, employers
         that would otherwise be aggregated under Code Sections 414 (c), (m) and
         (o) shall be treated as separate employers.

                                       7

<PAGE>

                  a "one percent owner" of the Employer having an annual "415
         Compensation" from the Employer of more than $150,000. "One percent
         owner" means any person who owns (or is considered as owning within the
         meaning of Code Section 318) more than one percent (1%) of the
         outstanding stock of the Employer or stock possessing more than one
         percent (1%) of the total combined voting power of all stock of the
         Employer or, in the case of an unincorporated business, any person who
         owns more than one percent (1%) of the capital or profits interest in
         the Employer. In determining percentage ownership hereunder, employers
         that would otherwise be aggregated under Code Sections 414(b), (c), (m)
         and (o) shall be treated as separate employers. However, in determining
         whether an individual has "415 Compensation" of more than $150,000,
         "415 Compensation" from each employer required to be aggregated under
         Code Sections 414(b), (c), (m) and (o) shall be taken into account.

         For purposes of this Section, the determination of "415 Compensation"
shall be made by including amounts which are contributed by the Employer
pursuant to a salary reduction agreement and which are not includible in the
gross income of the Participant under Code Sections 125, 402(e) (3), 402(h)
(1)(B), 403(b) or 457(b), and Employee contributions described in Code Section
414(h) (2) that are treated as Employer contributions.

         1.31  "Late Retirement Date" means the first day of the month
coinciding with or next following a Participant's actual Retirement Date after
having reached his Normal Retirement Date.

         1.32  "Leased Employee" means any person (other than an Employee of the
recipient) who pursuant to an agreement between the recipient and any other
person ("leasing organization") has performed services for the recipient (or for
the recipient and related persons determined in accordance with Code Section
414(n) (6)) on a substantially full time basis or a period of at least one year,
and such services are performed under primary direction or control by the
recipient. Contributions or benefits provided a Leased Employee by the leasing
organization which are attributable to services performed for the recipient
employer shall be treated as provided by the recipient employer. A Leased
Employee shall not be considered an Employee of the recipient:

               if such employee is covered by a money purchase pension plan
               providing:

                     a non-integrated employer contribution rate of at least 10%
               of compensation, as defined in Code Section 415(c) (3), but
               including amounts which are contributed by the Employer pursuant
               to a salary reduction agreement and which are not includible in
               the gross income of the Participant under Code Sections 125,
               402(e)(3), 402(h)(1)(B), 403(b) or 457(b), and Employee
               contributions described in Code Section 414(h) (2) that are
               treated as Employer contributions;

                     immediate participation;

                     full and immediate vesting; and

                                       8

<PAGE>

               if Leased Employees do not constitute more than 20% of the
         recipient's non-highly compensated work force.

         1.33  "Non-Highly Compensated Participant" means any Participant who is
not a Highly Compensated Employee.

         1.34  "Non-Key Employee" means any Employee or former Employee (and his
Beneficiaries) who is not a Key Employee.

         1.35  "Normal Retirement Age" means the Participant's 65th birthday, or
his 4th anniversary of joining the Plan, if later. A Participant shall become
fully Vested in his Participant's Account upon attaining his Normal Retirement
Age.

         1.36  "Normal Retirement Date" means the date a Participant attains his
Normal Retirement Age.

         1.37  "1-Year Break in Service" means, for purposes of eligibility for
participation and vesting, the applicable computation period during which an
Employee has not completed more than 500 Hours of Service with the Employer.
Further, solely for the purpose of determining whether a Participant has
incurred a 1-Year Break in Service, Hours of Service shall be recognized for
"authorized leaves of absence" and "maternity and paternity leaves of absence."
Years of Service and 1-Year Breaks in Service shall be measured on the same
computation period.

         "Authorized leave of absence" means an unpaid, temporary cessation from
active employment with the Employer pursuant to an established nondiscriminatory
policy, whether occasioned by illness, military service, or any other reason.

         A "maternity or paternity leave of absence" means, for Plan Years
beginning after December 31, 1984, an absence from work for any period by reason
of the Employee's pregnancy, birth of the Employee's child, placement of a child
with the Employee in connection with the adoption of such child, or any absence
for the purpose of caring for such child for a period immediately following such
birth or placement. For this purpose, Hours of Service shall be credited for the
computation period in which the absence from work begins, only if credit
therefore is necessary to prevent the Employee from incurring a 1-Year Break in
Service, or, in any other case, in the immediately following computation period.
The Hours of Service credited for a "maternity or paternity leave of absence"
shall be those which would normally have been credited but for such absence, or,
in any case in which the Administrator is unable to determine such hours
normally credited, eight (8) hours of Service per day. The total Hours of
Service required to be credited for a "maternity or paternity leave of absence"
shall not exceed 501.

         1.38  "Other Investments Account" means the account of a participant
which is credited with his share of the net gain (or loss) of the Plan,
Forfeitures and Employer contributions in other than Company Stock and which is
debited with payments made to pay for Company Stock.

         1.39  "Participant" means any Eligible Employee who participates in the
Plan and has not for any reason become ineligible to participate further in the
Plan.

                                       9

<PAGE>

         1.40  "Participant's Account" means the account established and
maintained by the Administrator for each Participant with respect to his total
interest in the Plan and Trust resulting from the Employer contributions.

         1.41  "Plan" means this instrument, including all amendments thereto.

         1.42  "Plan Year" means the Plan's accounting year of twelve (12)
months commencing on January 1st of each year and ending the following December
31st.

         1.43  "Regulation" means the Income Tax Regulations as promulgated by
the Secretary of the Treasury or his delegate, and as amended from time to time.

         1.44  "Retired Participant" means a person who has been a Participant,
but who has become entitled to retirement benefits under the Plan.

         1.45 "Retirement Date" means the date as of which a Participant retires
for reasons other than Total and Permanent Disability, whether such retirement
occurs on a Participant's Normal Retirement Date, Early or Late Retirement Date
(see Section 7.1).

         1.46  "Super Top Heavy Plan" means a plan described in Section 10.2(b).

         1.47  "Terminated Participant" means a person who has been a
Participant, but whose employment has been terminated other than by death, Total
and Permanent Disability or retirement.

         1.48  "Top Heavy Plan" means a plan described in Section 10.2(a).

         1.49  "Top Heavy Plan Year" means a Plan Year during which the Plan is
a Top Heavy Plan.

         1.50  "Top Paid Group" means the top 20 percent of Employees who
performed services for the Employer during the applicable year, ranked according
to the amount of 415 Compensation" (determined for this purpose in accordance
with Section 1.25) received from the Employer during such year. All Affiliated
Employers shall be taken into account as a single employer, and Leased Employees
within the meaning of Code Sections 414(n)(2) and 414(o) (2) shall be considered
Employees unless such Leased Employees are covered by a plan described in Code
Section 414(n) (5) and are not covered in any qualified plan maintained by the
Employer. Employees who are non-resident aliens and who received no earned
income (within the meaning of Code Section 911(d)(2)) from the Employer
constituting United States source income within the meaning of Code Section
861(a (3) shall not be treated as Employees. Additionally, for the purpose of
determining the number of active Employees in any year, the following additional
Employees shall also be excluded; however, such Employees shall still be
considered for the purpose of identifying the particular Employees in the Top
paid Group:

               Employees with less than six (6) months of service;

               Employees who normally work less than 17 1/2 hours per week;

                                       10

<PAGE>

             Employees who normally work less than six (6) months during a
             year; and

             Employees who have not yet attained age 21.

         In addition, if 90 percent or more of the Employees of the Employer are
covered under agreements the Secretary of Labor finds to be collective
bargaining agreements between Employee representatives and the Employer, and the
Plan covers only Employees who are not covered under such agreements, then
Employees covered by such agreements shall be excluded from both the total
number of active Employees as well as from the identification of particular
Employees in the Top Paid Group.

         The foregoing exclusions set forth in this Section shall be applied on
a uniform and consistent basis for all purposes for which the Code Section
414(q) definition is applicable.

         1.51 "Total and Permanent Disability" means a physical or mental
condition of a Participant resulting from bodily injury, disease, or mental
disorder which renders him incapable of continuing any gainful occupation and
which condition constitutes total disability under the federal Social Security
Acts.

         1.52 "Trustees" means the person or entity named as trustee herein or
in any separate trust forming a part of this Plan, and any successors.

         1.53 "Trust Fund" means the assets of the Plan and Trust as the same
shall exist from time to time.

         1.54 "Unallocated Company Stock Suspense Account" means an account
containing Company Stock acquired with the proceeds of an Exempt Loan and which
has not been released from such account and allocated to the Participants'
Company Stock Accounts.

         1.55 "USERRA" means the Uniformed Services Employment and Reemployment
Rights Act of 1994. Notwithstanding any provision of this Plan to the contrary,
contributions, benefits and service credit with respect to qualified military
service will be provided in accordance with Code Section 414 (u).

         1.56 "Valuation Date" means the Anniversary Date and such other date or
dates deemed necessary by the Administrator. The Valuation Date may include any
day during the Plan Year that the Trustee, any transfer agent appointed by the
Trustee or the Employer and any stock exchange used by such agent are open for
business.

         1.57 "Vested" means the nonforfeitable portion of any account
maintained on behalf of a Participant.

         1.58 "Year of Service" means the computation period of twelve (12)
consecutive months, herein set forth, during which an Employee has at least 1000
Hours of Service.

         For purposes of eligibility for participation, the computation periods
shall be measured from the date on which the Employee first performs an Hour of
Service and anniversaries thereof. The participation computation periods
beginning after a 1-Year Break in Service shall be

                                       11

<PAGE>

measured from the date on which an Employee again performs an Hour of Service
and anniversaries thereof.

         For vesting purposes, the computation periods shall be measured from
the date on which the Employee first performs an Hour of Service and
anniversaries thereof, including periods prior to the Effective Date of the
Plan.

         The computation period shall be the Plan Year if not otherwise set
forth herein.

         Notwithstanding the foregoing, for any short Plan Year, the
determination of whether an Employee has completed a Year of Service shall be
made in accordance with Department of Labor regulation 2530.203-2(c). However,
in determining whether an Employee has completed a Year of Service for benefit
accrual purposes in the short Plan Year, the number of the Hours of Service
required shall be proportionately reduced based on the number of full months in
the short Plan Year.

         Years of Service with Oswego County Savings Bank shall be recognized.

         Years of Service with any Affiliated Employer shall be recognized.

                                 ADMINISTRATION

         POWERS AND RESPONSIBILITIES OF THE EMPLOYER

                  In addition to the general powers and responsibilities
         otherwise provided for in this Plan, the Employer shall be empowered to
         appoint and remove the Trustee and the Administrator from time to time
         as it deems necessary for the proper administration of the Plan to
         ensure that the Plan is being operated for the exclusive benefit of the
         Participants and their Beneficiaries in accordance with the terms of
         the Plan, the Code, and the Act. The Employer may appoint counsel,
         specialists, advisers, agents (including any nonfiduciary agent) and
         other persons as the Employer deems necessary or desirable in
         connection with the exercise of its fiduciary duties under this Plan.
         The Employer may compensate such agents or advisers from the assets of
         the Plan as fiduciary expenses (but not including any business
         (settlor) expenses of the Employer), to the extent not paid by the
         Employer.

                  The Employer shall establish a "funding policy and method,"
         i.e., it shall determine whether the Plan has a short run need for
         liquidity (e.g., to pay benefits) or whether liquidity is a long run
         goal and investment growth (and stability of same) is a more current
         need, or shall appoint a qualified person to do so. The Employer or its
         delegate shall communicate such needs and goals to the Trustee, who
         shall coordinate such Plan needs with its investment policy. The
         communication of such a "funding policy and method" shall not, however,
         constitute a directive to the Trustee as to investment of the Trust
         Funds. Such "funding policy and method" shall be consistent with the
         objectives of this Plan and with the requirements of Title I of the
         Act.

                                       12

<PAGE>

                  The Employer shall periodically review the performance of any
         Fiduciary or other person to whom duties have been delegated or
         allocated by it under the provisions of this Plan or pursuant to
         procedures established hereunder. This requirement may be satisfied by
         formal periodic review by the Employer or by a qualified person
         specifically designated by the Employer, through day-to-day conduct and
         evaluation, or through other appropriate ways.

                  The Employer will furnish Plan Fiduciaries and Participants
         with notices and information statements when voting rights must be
         exercised pursuant to Section 8.4.

         DESIGNATION OF ADMINISTRATIVE AUTHORITY

         The Employer shall be the Administrator. The Employer may appoint any
person, including, but not limited to, the Employees of the Employer, to perform
the duties of the Administrator. Any person so appointed shall signify his
acceptance by filing written acceptance with the Employer. Upon the resignation
or removal of any individual performing the duties of the Administrator, the
Employer may designate a successor.

         ALLOCATION AND DELEGATION OF RESPONSIBILITIES

         If more than one person is appointed as Administrator, the
responsibilities of each Administrator may be specified by the Employer and
accepted in writing by each Administrator. In the event that no such delegation
is made by the Employer, the Administrators may allocate the responsibilities
among themselves, in which event the Administrators shall notify the Employer
and the Trustee in writing of such action and specify the responsibilities of
each Administrator. The Trustee thereafter shall accept and rely upon any
documents executed by the appropriate Administrator until such time as the
Employer or the Administrators file with the Trustee a written revocation of
such designation.

         POWERS AND DUTIES OF THE ADMINISTRATOR

         The primary responsibility of the Administrator is to administer the
Plan for the exclusive benefit of the Participants and their Beneficiaries,
subject to the specific terms of the Plan. The Administrator shall administer
the Plan in accordance with its terms and shall have the power and discretion to
construe the terms of the Plan and to determine all questions arising in
connection with the administration, interpretation, and application of the Plan.
Any such determination by the Administrator shall be conclusive and binding upon
all persons. The Administrator may establish procedures, correct any defect,
supply any information, or reconcile any inconsistency in such manner and to
such extent as shall be deemed necessary or advisable to carry out the purpose
of the Plan; provided, however, that any procedure, discretionary act,
interpretation or construction shall be done in a nondiscriminatory manner based
upon uniform principles consistently applied and shall be consistent with the
intent that the Plan shall continue to be deemed a qualified plan under the
terms of Code Section 401(a), and shall comply with the terms of the Act and all
regulations issued pursuant thereto. The Administrator shall have all powers
necessary or appropriate to accomplish his duties under this Plan.

         The Administrator shall be charged with the duties of the general
administration of the Plan, including, but not limited to, the following:

                                       13

<PAGE>

                  the discretion to determine all questions relating to the
         eligibility of Employees to participate or remain a Participant
         hereunder and to receive benefits under the Plan;

                  to compute, certify, and direct the Trustee with respect to
         the amount and the kind of benefits to which any Participant shall be
         entitled hereunder;

                  to authorize and direct the Trustee with respect to all
         nondiscretionary or otherwise directed disbursements from the Trust;

                  to maintain all necessary records for the administration of
         the Plan;

                  to interpret the provisions of the Plan and to make and
         publish such rules for regulation of the Plan as are consistent with
         the terms hereof;

                  to determine the size and type of any Contract to be purchased
         from any insurer, and to designate the insurer from which such Contract
         shall be purchased;

                  to compute and certify to the Employer and to the Trustee from
         time to time the sums of money necessary or desirable to be contributed
         to the Plan;

                  to consult with the Employer and the Trustee regarding the
         short and long-term liquidity needs of the Plan in order that the
         Trustee can exercise any investment discretion in a manner designed to
         accomplish specific objectives;

                  to establish and communicate to Participants a procedure for
         allowing each Participant to direct the Trustee as to the distribution
         of his Company Stock Account pursuant to Section 4.6;

                  to establish and communicate to Participants a procedure and
         method to insure that each Participant will vote Company Stock
         allocated to such Participant's Company Stock Account pursuant to
         Section 8.4;

                  to assist any Participant regarding his rights, benefits, or
         elections available under the Plan.

         RECORDS AND REPORTS

         The Administrator shall keep a record of all actions taken and shall
keep all other books of account, records, policies, and other data that may be
necessary for proper administration of the Plan and shall be responsible for
supplying all information and reports to the Internal Revenue Service,
Department of Labor, Participants, Beneficiaries and others as required by law.

         APPOINTMENT OF ADVISERS

         The Administrator, or the Trustee with the consent of the
Administrator, may appoint counsel, specialists, advisers, agents (including
nonfiduciary agents) and other persons as the Administrator or the Trustee deems
necessary or desirable in connection with the administration of this Plan,
including but not limited to agents and advisers to assist with the
administration and management of the Plan, and thereby to provide, among such
other duties as the Administrator

                                       14

<PAGE>

may appoint, assistance with maintaining Plan records and the providing of
investment information to the Plan's investment fiduciaries.

         PAYMENT OF EXPENSES

         All expenses of administration may be paid out of the Trust Fund unless
paid by the Employer. Such expenses shall include any expenses incident to the
functioning of the Administrator, or any person or persons retained or appointed
by any Named Fiduciary incident to the exercise of their duties under the Plan,
including, but not limited to, fees of accountants, counsel, Investment
Managers, and other specialists and their agents, and other costs of
administering the Plan. Until paid, the expenses shall constitute a liability of
the Trust Fund.

         CLAIMS PROCEDURE

         Claims for benefits under the Plan may be filed in writing with the
Administrator. Written notice of the disposition of a claim shall be furnished
to the claimant within 90 days after the application is filed. In the event the
claim is denied, the reasons for the denial shall be specifically set forth in
the notice in language calculated to be understood by the claimant, pertinent
provisions of the Plan shall be cited, and, where appropriate, an explanation as
to how the claimant can perfect the claim will be provided. In addition, the
claimant shall be furnished with an explanation of the Plan's claims review
procedure.

         CLAIMS REVIEW PROCEDURE

         Any Employee, former Employee, or Beneficiary of either, who has been
denied a benefit by a decision of the Administrator pursuant to Section 2.8
shall be entitled to request the Administrator to give further consideration to
his claim by filing with the Administrator (on a form which may be obtained from
the Administrator) a request for a hearing. Such request, together with a
written statement of the reasons why the claimant believes his claim should be
allowed, shall be filed with the Administrator no later than 60 days after
receipt of the written notification provided for in Section 2.8. The
Administrator shall then conduct a hearing within the next 60 days, at which the
claimant may be represented by an attorney or any other representative of his
choosing and at which the claimant shall have an opportunity to submit written
and oral evidence and arguments in support of his claim. At the hearing (or
prior thereto upon 5 business days written notice to the Administrator) the
claimant or his representative shall have an opportunity to review all documents
in the possession of the Administrator which are pertinent to the claim at issue
and its disallowance. Either the claimant or the Administrator may cause a court
reporter to attend the hearing and record the proceedings. In such event, a
complete written transcript of the proceedings shall be furnished to both
parties by the court reporter. The full expense of any such court reporter and
such transcripts shall be borne by the party causing the court reporter to
attend the hearing. A final decision as to the allowance of the claim shall be
made by the Administrator within 60 days of receipt of the appeal (unless there
has been an extension of 60 days due to special circumstances, provided the
delay and the special circumstances occasioning it are communicated to the
claimant within the 60 day period). Such communication shall be written in a
manner calculated to be understood by the claimant and shall include specific
reasons for the decision and specific references to the pertinent Plan
provisions on which the decision is based.

                                       15

<PAGE>

                                   ELIGIBILITY

         CONDITIONS OF ELIGIBILITY

         Any Eligible Employee who has completed one (1) Year of Service and has
attained age 21 shall be eligible to participate hereunder as of the date he has
satisfied such requirements.

         EFFECTIVE DATE OF PARTICIPATION

         An Eligible Employee shall become a Participant effective as of the
date on which he satisfies the eligibility requirements of Section 3.1.

         DETERMINATION OF ELIGIBILITY

         The Administrator shall determine the eligibility of each Employee for
participation in, the Plan based upon information furnished by the Employer.
Such determination shall be conclusive and binding upon all persons, as long as
the same is made pursuant to the Plan and the Act. Such determination shall be
subject to review per Section 2.9.

         TERMINATION OF ELIGIBILITY

                  In the event a Participant shall go from a classification of
         an Eligible Employee to an ineligible Employee, such Former Participant
         shall continue to vest in his interest in the Plan for each Year of
         Service completed while a noneligible Employee, until such time as his
         Participant's Account shall be forfeited or distributed pursuant to the
         term of the Plan. Additionally, his interest in the Plan shall continue
         to share in the earnings of the Trust Fund.

                  In the event a Participant is no longer a member of an
         eligible class of Employees and becomes ineligible to participate, such
         Employee will participate immediately upon returning to an eligible
         class of Employees.

         OMISSION OF ELIGIBLE EMPLOYEE

         If, in any Plan Year, any Employee who should be included as a
Participant in the Plan is erroneously omitted and discovery of such omission is
not made until after a contribution by his Employer for the year has been made,
the Employer shall make a subsequent contribution with respect to the omitted
Employee in the amount which the said Employer would have contributed with
respect to him had he not been omitted. Such contribution shall be made
regardless of whether or not it is deductible in whole or in part in any taxable
year under applicable provisions of the Code.

         INCLUSION OF INELIGIBLE EMPLOYEE

         If, in any plan Year, any person who should not have been included as a
Participant in the Plan is erroneously included and discovery of such incorrect
inclusion is not made until after a contribution for the year has been made, the
Employer shall not be entitled to recover the

                                       16

<PAGE>

contribution made with respect to the ineligible person regardless of whether or
not a deduction is allowable with respect to such contribution. In such event,
the amount contributed with respect to the ineligible person shall constitute a
Forfeiture for the Plan Year in which the discovery is made.

         ELECTION NOT TO PARTICIPATE

         An Employee may, subject to the approval of the Employer, elect
voluntarily not to participate in the Plan. The election not to participate must
be communicated to the Employer, in writing, at least thirty (30) days before
the beginning of a Plan Year.

                           CONTRIBUTION AND ALLOCATION

         FORMULA FOR DETERMINING EMPLOYER CONTRIBUTION

                  For each Plan Year, the Employer shall contribute to the Plan
         such amount as shall be determined by the Employer.

                  The Employer contribution shall not be limited to years in
         which the Employer has current or accumulated net profit. Additionally,
         to the extent necessary, the Employer shall contribute to the Plan the
         amount necessary to provide the top heavy minimum contribution. All
         contributions by the Employer shall be made in cash or in such property
         as is acceptable to the Trustee.

         TIME OF PAYMENT OF EMPLOYER CONTRIBUTION

         Employer contributions will be paid in cash, Company Stock or other
property as the Employer may from time to time determine. Company Stock and
other property will be valued at their then fair market value. The Employer
shall pay to the Trustee its contribution to the Plan for each Plan Year within
the time prescribed by law, including extensions of time, for the filing of the
Employer federal income tax return for the Fiscal Year.

         ALLOCATION OF CONTRIBUTION, FORFEITURES AND EARNINGS

                  The Administrator shall establish and maintain an account in
         the name of each Participant to which the Administrator shall credit as
         of each Anniversary Date all amounts allocated to each such Participant
         as set forth herein.

                  The Employer shall provide the Administrator with all
         information required by the Administrator to make a proper allocation
         of the Employer contributions for each Plan Year. Within a reasonable
         period of time after the date of receipt by the Administrator of such
         information, the Administrator shall allocate such contribution to each
         Participant's Account in the same proportion that each such
         Participant's Compensation for the year bears to the total Compensation
         of all Participants for such year.

                                       17

<PAGE>

Only Participants who have completed a Year of Service during the Plan Year and
are actively employed on the last day of the Plan Year shall be eligible to
share in the discretionary contribution, for the year.

                  The Company Stock Account of each Participant shall be
         credited as of each Anniversary Date with Forfeitures of Company Stock
         and his allocable share of Company Stock (including fractional shares)
         purchased and paid for by the Plan or contributed in kind by the
         Employer. Stock dividends on Company Stock held in his Company Stock
         Account shall be credited to his Company Stock Account when paid. Cash
         dividends on Company Stock held in his Company Stock Account shall, in
         the sole discretion of the Administrator, either be credited to his
         Other Investments Account when paid or be used to repay an Exempt Loan;
         provided, however, that when cash dividends are used to repay an Exempt
         Loan, Company Stock shall be released from the Unallocated Company
         Stock Suspense Account and allocated to the Participant's Company Stock
         Account pursuant to Section 4.3(f) and, provided further, that Company
         Stock allocated to the Participant's Company Stock Account shall have a
         fair market value not less than the amount of cash dividends which
         would have been allocated to such Participant's Other Investments
         Account for the year.

Company Stock acquired by the Plan with the proceeds of an Exempt Loan shall
only be allocated to each Participant's Company Stock Account upon release from
the Unallocated Company Stock Suspense Account as provided in Section 4.3(f)
herein. Company Stock acquired with the proceeds of an Exempt Loan shall be an
asset of the Trust Fund and maintained in the Unallocated Company Stock Suspense
Account.

                  As of each Valuation Date, before the current valuation period
         allocation of Employer contributions and Forfeitures, any earnings or
         losses (net appreciation or net depreciation) of the Trust Fund shall
         be allocated in the sane proportion that each Participant's and Former
         Participant's nonsegregated accounts (other than each Participant's
         Company Stock Account) bear to the total of all Participants' and
         Former Participants' nonsegregated accounts (other than Participants'
         Company Stock Accounts) as of such date.

Earnings or losses do not include the interest paid under any installment
contract for the purchase of Company Stock by the Trust Fund or on any loan used
by the Trust Fund to purchase Company Stock, nor does it include income received
by the Trust Fund with respect to Company Stock acquired with the proceeds of an
Exempt Loan; all income received by the Trust Fund from Company Stock acquired
with the proceeds of an Exempt Loan may, at the discretion of the Administrator,
be used to repay such loan.

                  Participants' accounts shall be debited for any insurance or
         annuity premiums paid, if any, and credited with any dividends received
         on insurance contracts.

                  All Company Stock acquired by the Plan with the proceeds of an
         Exempt Loan must be added to and maintained in the Unallocated Company
         Stock Suspense Account. Such Company Stock shall be released and
         withdrawn from that account as if all Company Stock in that account
         were encumbered. For each Loan Year during the

                                       18

<PAGE>

         duration of the loan, the number of shares of Company Stock released
         shall equal the number of encumbered shares held immediately before
         release for the current Plan Year multiplied by a fraction, the
         numerator of which is the amount of principal and interest paid for the
         Plan Year and the denominator of which is the sum of the numerator plus
         the principal and interest to be paid for all future Plan Years. As of
         each Anniversary Date, the Plan must consistently allocate to each
         Participant's Account, in the same manner as Employer discretionary
         contributions pursuant to Section 4.1(a) are allocated, non-monetary
         units (shares and fractional shares of Company Stock) representing each
         Participant's interest in Company Stock withdrawn from the Unallocated
         Company Stock Suspense Account. However, Company Stock released from
         the Unallocated Company Stock Suspense Account with cash dividends
         pursuant to Section 4.3 (c) shall be allocated to each Participant's
         Company Stock Account in the same proportion that each such
         Participant's number of shares of Company Stock sharing in such cash
         dividends bears to the total number of shares of all Participant's
         Company Stock sharing in such cash dividends. Income earned with
         respect to Company Stock in the Unallocated Company Stock Suspense
         Account shall be used, at the discretion of the Administrator, to repay
         the Exempt Loan used to purchase such Company Stock. Company Stock
         released from the Unallocated Company Stock Suspense Account with such
         income, and any income which is not so used, shall be allocated as of
         each Anniversary Date or other valuation date in the sane proportion
         that each Participant's and Former Participant's nonsegregated accounts
         after the allocation of any earnings or losses pursuant to Section
         4.3(d) bear to the total of all Participants' and Former Participants'
         nonsegregated accounts after the allocation any earnings or losses
         pursuant to Section 4.3(d).

                  Notwithstanding the foregoing, any assets held in suspense
         account (including, without limitation, Company Stock and cash) which
         are released from the collateral requirements of an Exempt Loan by
         reason of the payment of principal or interest on one or more of such
         Exempt Loans, which payment is attributable to the sale of any asset
         held by the Plan, shall, upon release, be immediately credited to
         Participants' Accounts as earnings in proportion to the respective
         opening account balances of such accounts as of the first day of the
         applicable Plan Year. In addition, if any Company Stock or other asset
         held in a suspense account to secure one or more of such Exempt Loans
         is sold in connection with a change in control (as defined in
         subparagraph (d) of Section 7.4 of the Plan) of the Employer, then the
         proceeds from such sale will be used and distributed as follows:

                  if the sale proceeds consist solely of cash, the cash proceeds
                           shall first be used to repay any existing Exempt
                           Loan(s) secured by such Company Stock or other
                           assets, and thereafter any remaining cash proceeds
                           shall, as of the effective date of the change in
                           control, be credited to the Participants' Accounts as
                           earnings in proportion to the respective opening
                           account balances of such accounts as of the first day
                           of the Plan Year containing the effective date of
                           such change in control;

                  if the sales proceeds consist solely of stock of the company
                           acquiring control or of an affiliate of such company
                           ("Acquiror Stock"), then the Acquiror Stock shall be
                           sold by the ESOP in an amount sufficient to generate
                           sufficient

                                       19

<PAGE>

                           cash to repay any existing Exempt Loan(s) secured by
                           such Company Stock or other assets, and thereafter
                           any remaining shares of Acquiror Stock shall, as of
                           the effective date of the change in control, be
                           credited to the Participants' Accounts as earnings in
                           proportion to the respective opening account balances
                           of such accounts as of the first day of the Plan Year
                           containing the effective date of such change in
                           control;

                  if the sales proceeds consist of a combination of cash and
                           Acquiror Stock, then the cash proceeds shall first be
                           used to repay any existing Exempt Loan(s) secured by
                           such Company Stock or other assets and then the
                           Acquiror Stock shall be sold by ESOP in an amount
                           sufficient to generate sufficient cash to repay any
                           remaining balance of such Exempt Loan(s), and
                           thereafter any remaining cash proceeds and/or shares
                           of Acquiror Stock shall, as of the effective date of
                           the change in control, be credited to the
                           Participants' Accounts as earnings in proportion to
                           the respective opening account balances of such
                           accounts as of the first day of the Plan Year
                           containing the effective date of such change in
                           control; and

                  if the sales proceeds consist of consideration other than cash
                           or Acquirer Stock, or any contribution of other
                           consideration, cash and Acquiror Stock, then (i) the
                           other consideration shall first be sold to the extent
                           practicable to repay any existing Exempt Loan(s)
                           secured by such Company Stock or other assets, (ii)
                           the cash proceeds shall be used second to repay any
                           remaining balance of such Exempt Loan(s), and (iii)
                           lastly, the Acquiror Stock shall be sold by the ESOP
                           in an amount sufficient to generate sufficient cash
                           to repay any remaining balance of such Exempt
                           Loan(s), and thereafter any remaining other
                           consideration, cash proceeds and/or shares of
                           Acquiror Stock shall, as of the effective date of the
                           change in control, be credited to the Participants'
                           Accounts as earnings in proportion to the respective
                           opening account balances of such accounts as of the
                           first day of the Plan Year containing the effective
                           date of such change in control.

                  As of each Anniversary Date any amounts which became
         Forfeitures since the last Anniversary Date shall first be made
         available to reinstate previously forfeited account balances of Former
         Participants, if any, in accordance with Section 7.4(f)(2). The
         remaining Forfeitures, if any, shall be added to any Employer
         discretionary contribution made pursuant to Section 4.1(a) and for the
         Plan Year in which such Forfeitures occur allocated among the
         Participants' Accounts in the same manner as any Employer discretionary
         contribution for the current year.

         Provided, however, that in the event the allocation of Forfeitures
provided herein shall cause the "annual addition" (as defined in Section 4.4) to
any Participant's Account to exceed the amount allowable by the Code, the excess
shall be reallocated in accordance with Section 4.5.

                  For any Top Heavy Plan Year, Employees not otherwise eligible
         to share in the allocation of contributions and Forfeitures as provided
         above, shall receive the minimum

                                       20

<PAGE>

         allocation provided for in Section 4.3(j) if eligible pursuant to the
         provisions of Section 4.3(1).

                  Notwithstanding the foregoing, Participants who are not
         actively employed on the last day of the Plan Year due to Retirement
         (Early, Normal or Late), Total and Permanent Disability or death shall
         share in the allocation of contributions and Forfeitures for that Plan
         Year.

                  Minimum Allocations Required for Top Heavy Plan Years:
         Notwithstanding the foregoing, for any Top Heavy Plan Year, the sum of
         the Employer contributions and Forfeitures allocated to the
         Participant's Account of each Employee shall be equal to at least three
         percent (3%) of such Employee's "415 Compensation" (reduced by
         contributions and forfeitures, if any, allocated to each Employee in
         any defined contribution plan included with this plan in a Required
         Aggregation Group). However, if (1) the sum of the Employer
         contributions and Forfeitures allocated to the Participant's Account of
         each Key Employee for such Top Heavy Plan Year is less than three
         percent (3%) of each Key Employee's "415 Compensation" and (2) this
         Plan is not required to be included in an Aggregation Group to enable a
         defined benefit plan to meet the requirements of Code Section 401(a)
         (4) or 410, the sum of the Employer contributions and Forfeitures
         allocated to the Participant's Account of each Employee shall be equal
         to the largest percentage allocated to the Participant's Account of any
         Key Employee.

However, no such minimum allocation shall be required in this Plan for any
Employee who participates in another defined contribution plan subject to Code
Section 412 included with this Plan in a Required Aggregation Group.

                  For purposes of the minimum allocations set forth above, the
         percentage allocated to the Participant's Account of any Key Employee
         shall be equal to the ratio of the sum of the Employer contributions
         and Forfeitures allocated on behalf of such Key Employee divided by the
         "415 Compensation" for such Key Employee.

                  For any Top Heavy Plan Year, the minimum allocations set forth
         above shall be allocated to the Participant's Account of all Employees
         who are Participants and who are employed by the Employer on the last
         day of the Plan year, including Employees who have (1) failed to
         complete a Year of Service; and (2) declined to make mandatory
         contributions (if required) to the Plan.

                  In lieu of the above, if an Employee participates in this Plan
         and a defined benefit pension plan included in a Required Aggregation
         Group which is top heavy, a minimum allocation of five percent (5%) of
         "415 Compensation" shall be provided under this Plan.

                  If an Employee participates in this Plan and a defined benefit
         plan included in a Required Aggregation Group which is top heavy, a
         minimum monthly accrued benefit equal to the product of (1) one-twelfth
         (1/12/th/) of "415 Compensation" averaged over the five (5) consecutive
         "limitation years" (or actual "limitation years," if less) which
         produce the highest average and (2) the lesser of (i) two percent (2%)
         multiplied by years

                                       21

<PAGE>

         of service when the plan is top heavy or (ii) twenty percent (20%)
         shall be provided to such Employee under the defined benefit plan.

                  For the purposes of this Section, "415 Compensation" shall be
         limited to $150,000. Such amount shall be adjusted for increases in the
         cost of living in accordance with Code Section 401(a)(17), except that
         the dollar increase in effect on January 1 of any calendar year shall
         be effective for the Plan Year beginning with or within such calendar
         year. For any short Plan Year the "415 Compensation" limit shall be an
         amount equal to the "415 Compensation" limit for the calendar year in
         which the Plan Year begins multiplied by the ratio obtained by dividing
         the number of full months in the short Plan Year by twelve (12).

                  If a Former Participant is reemployed after five (5)
         consecutive 1-Year Breaks in Service, then separate accounts shall be
         maintained as follows:

                           one account for nonforfeitable benefits attributable
                  to pre-break service; and

                           one account representing his status in the Plan
                  attributable to post-break service.

         MAXIMUM ANNUAL ADDITIONS

                  Notwithstanding the foregoing, the maximum "annual additions"
         credited to a Participant's accounts for any "limitation year" shall
         equal the lesser of: (1) $30,000 adjusted annually as provided in Code
         Section 415(d) pursuant to the Regulations or (2) twenty-five percent
         (25%) of the Participant's "415 Compensation" for such "limitation
         year." For any short "limitation year." the dollar limitations in (1)
         above shall be reduced by a fraction, the numerator of which is the
         number of full months in the short "limitation year" and the
         denominator of which is twelve (12).

                  For purposes of applying the limitations of Code Section 415,
         "annual additions" means the sum credited to a Participant's accounts
         for any "limitation year" of (1) Employer contributions, (2) Employee
         contributions, (3) forfeitures, (4) amounts allocated, after March 31,
         1984, to an individual medical account, as defined in Code Section
         415(1) (2) which is part of a pension or annuity plan maintained by the
         Employer and (5) amounts derived from contributions paid or accrued
         after December 31, 1985, in taxable years ending after such date, which
         are attributable to post-retirement medical benefits allocated to the
         separate account of a key employee (as defined in Code Section 419A(d)
         (3)) under a welfare benefit plan (as defined in Code Section 419(e))
         maintained by the Employer. Except, however, the "415 Compensation"
         percentage limitation referred to in paragraph (a) (2) above shall not
         apply to: (1) any contribution for medical benefits (within the meaning
         of Code Section 419A(f)(2)) after separation from service which is
         otherwise treated as an "annual addition," or (2) any amount otherwise
         treated as an "annual addition'" under Code Section 415(1) (1).

                  For purposes of applying the limitations of Code Section 415,
         the following are not "annual additions": (1) the transfer of funds
         from one qualified plan to another and

                                       22

<PAGE>

         (2) provided no more than one-third of the Employer contributions for
         the year are allocated to Highly Compensated Participants, Forfeitures
         of Company Stock purchased with the proceeds of an Exempt Loan and
         Employer contributions applied to the payment of interest on an Exempt
         Loan; and (3) the allocation of excess amounts remaining in the
         Unallocated Company Stock Suspense Account subsequent to a sale of
         stock from such fund in accordance with a transaction described in
         Article IV of the Plan. In addition, the following are not Employee
         contributions for the purposes of Section 4.4(b) (2): (1) rollover
         contributions (as defined in Code Sections 402 (a) (5), 403 (a) (4),
         403(b) (8) and 408(d) (3)); (2) repayments of loans made to a
         Participant from the Plan; (3) repayments of distributions received by
         an Employee pursuant to Code Section 411(a) (7) (B) (cash-outs); (4)
         repayments of distributions received by an Employee pursuant to Code
         Section 411(a) (3) (D) (mandatory contributions); and (5) Employee
         contributions to a simplified employee pension excludable from gross
         income under Code Section 408(k) (6).

                  For purposes of applying the limitations of code Section 415,
         the "limitation year" shall be the Plan Year.

                  For the purpose of this Section, all qualified defined benefit
         plans (whether terminated or not) ever maintained by the Employer shall
         be treated as one defined benefit plan, and all qualified defined
         contribution plans (whether terminated or not) ever maintained by the
         Employer shall be treated as one defined contribution plan.

                  For the purpose of this Section, if the Employer is a member
         of a controlled group of corporations, trades or businesses under
         common control (as defined by Code Section 1563(a) or Code Section
         414(b) and (c) as modified by Code Section 415 (h) is a member of an
         affiliated service group (as defined by Code Section 414 (m)), or is a
         member of a group of entities required to be aggregated pursuant to
         Regulations under Code Section 414 (o), all Employees of such Employers
         shall be considered to be employed by a single Employer.

                  For the purpose of this Section, if this Plan is a Code
         Section 413 (c) plan, each Employer who maintains this plan will be
         considered to be a separate Employer.

                  1.59 If a Participant participates in more than one defined
         contribution plan maintained by the Employer which have different
         Anniversary Dates, the maximum "annual additions" under this Plan shall
         equal the maximum "annual additions" for the "limitation year" minus
         any "annual additions" previously credited to such Participant's
         accounts during the "limitation year."

                           If a participant participates in both a defined
                  contribution plan subject to Code Section 412 and a defined
                  contribution plan not subject to code Section 412 maintained
                  by the Employer which have the same Anniversary Date, "annual
                  additions" will be credited to the Participant's accounts
                  under the defined contribution plan subject to Code Section
                  412 prior to crediting "annual additions" to the Participant's
                  accounts under the defined contribution plan not subject to
                  Code Section 412.

                                       23

<PAGE>

                           If a Participant participates in more than one
                  defined contribution plan not subject to Code Section 412
                  maintained by the Employer which have the same anniversary
                  Date, the maximum "annual additions" under this plan shall
                  equal the product of (A) the maximum "annual additions" for
                  the "limitation year" minus any "annual additions" previously
                  credited under subparagraphs (1) or (2) above, multiplied by
                  (B) a fraction (i) the numerator of which is the "annual
                  additions" which would be credited to such Participant's
                  accounts under this Plan without regard to the limitations of
                  Code Section 415 and (ii) the denominator of which is such
                  "annual additions" for all plans described in this
                  subparagraph.

                  If an Employee is (or has been) a Participant in one or more
         defined benefit plans and one or more defined contribution plans
         maintained by the Employer, the sum of the defined benefit plan
         fraction and the defined contribution plan fraction for any "limitation
         year" may not exceed 1.0.

                  The defined benefit plan fraction for any "limitation year" is
         a fraction, the numerator of which is the sum of the Participant's
         projected annual benefits under all the defined benefit plans (whether
         or not terminated) maintained by the Employer, and the denominator of
         which is the lesser of 125 percent of the dollar limitation determined
         for the "limitation year" under Code Sections 415(b) and (d) or 140
         percent of the highest average compensation, including any adjustments
         under Code Section 415(b).

         Notwithstanding the above, if the Participant was a Participant as of
the first day of the first "limitation year" beginning after December 31, 1986,
in one or more defined benefit plans maintained by the Employer which were in
existence on May 6, 1986, the denominator of this fraction will not be less than
125 percent of the sun of the annual benefits under such plans which the
Participant had accrued as of the close of the last "limitation year" beginning
before January 1, 1987, disregarding any changes in the terms and conditions of
the plan after May 5, 1986. The preceding sentence applies only if the defined
benefit plans individually and in the aggregate satisfied the requirements of
Code Section 415 for all "limitation years" beginning before January 1, 1987.

                  The defined contribution plan fraction for any "limitation
         year" is a fraction, the numerator of which is the sum of the annual
         additions to the Participant's Account under all the defined
         contribution plans (whether or not terminated) maintained by the
         Employer for the current and all prior "limitation years" (including
         the annual additions attributable to the Participant's nondeductible
         Employee contributions to all defined benefit plans, whether or not
         terminated, maintained by the Employer, and the annual additions
         attributable to all welfare benefit funds, as defined in Code Section
         419(e), and individual medical accounts, as defined in Code Section
         415(1)(2), maintained by the Employer), and the denominator of which is
         the sum of the maximum aggregate amounts for the current and all prior
         "limitation years" of service with the Employer (regardless of whether
         a defined contribution plan was maintained by the Employer). The
         maximum aggregate amount in any "limitation year" is the lesser of 125
         percent of the dollar limitation determined under Code Sections 415(b)
         and (d) in effect under Code Section 415(c) (1) (A) or 35 percent of
         the Participant's Compensation for such year.

                                       24

<PAGE>

         If the Employee was a Participant as of the end of the first day of the
first "limitation year" beginning after December 31, 1986, in one or more
defined contribution plans maintained by the Employer which were in existence on
May 6, 1986, the numerator of this fraction will be adjusted if the sum of this
fraction and the defined benefit fraction would otherwise exceed 1.0 under the
terms of this Plan. Under the adjustment, an amount equal to the product of (1)
the excess of the sum of the fractions over 1.0 times (2) the denominator of
this fraction, will be permanently subtracted from the numerator of this
fraction. The adjustment is calculated using the fractions as they would be
computed as of the end of the last "limitation year" beginning before January 1,
1987, and disregarding any changes in the terms and conditions of the Plan made
after May 5, 1986, but using the Code Section 415 limitation applicable to the
first "limitation year" beginning on or after January 1, 1987. The annual
addition for any "limitation year" beginning before January 1, 1987 shall not be
recomputed to treat all Employee contributions as annual additions.

                  Notwithstanding the foregoing, for any "limitation year" in
         which the Plan is a Top Heavy Plan, 100 percent shall be substituted
         for 125 percent in Sections 4.4(j) and 4.4(k).

                  If the sum of the defined benefit plan fraction and the
         defined contribution plan fraction shall exceed 1.0 in any "limitation
         year" for any Participant in this Plan, the Administrator shall limit,
         to the extent necessary, the "annual additions" to such Participant's
         accounts for such "limitation year". If, after limiting the "annual
         additions" to such Participant's accounts for the "limitation year,"
         the sum of the defined benefit plan fraction and the defined
         contribution plan fraction still exceed 1.0, the Administrator shall
         then adjust the numerator of the defined contribution plan fraction so
         that the sum of both fractions shall not exceed 1.0 in any "limitation
         year" for such Participant.

                  Notwithstanding anything contained in this Section to the
         contrary, the limitations, adjustments and other requirements
         prescribed in this Section shall at all times comply with the
         provisions of Code Section 415 and the Regulations thereunder, the
         terms of which are specifically incorporated herein by reference.

         ADJUSTMENT FOR EXCESSIVE ANNUAL ADDITIONS

                  If, as a result of the allocation of Forfeitures, a reasonable
         error in estimating a Participant's Compensation, a reasonable error in
         determining the amount of elective deferrals (within the meaning of
         Code Section 402(g) (3)) that may be made with respect to any
         Participant under the limits of Section 4.4 or other facts and
         circumstances to which Regulation 1.415-5(b) (6) shall be applicable,
         the "annual additions" under this Plan would cause the maximum "annual
         additions" to be exceeded for any Participant, the Administrator shall
         (1) distribute any elective deferrals (within the meaning of Code
         Section 402(g) (3)) or return any Employee contributions (whether
         voluntary or mandatory), and for the distribution of gains attributable
         to these elective deferrals and Employee contributions, to the extent
         that the distribution or return would reduce the "excess amount" in the
         Participant's accounts (2) hold any "excess amount" remaining after the
         return of any elective deferrals or voluntary Employee contributions in
         a "Section 415 suspense account" (3) allocate and reallocate the
         "Section 415 suspense

                                       25

<PAGE>

         account" in the next "limitation year" (and succeeding "limitation
         years" if necessary) to all Participants in the Plan before any
         Employer or Employee contributions which would constitute "annual
         additions" are made to the Plan for such "limitation year" (4) reduce
         Employer contributions to the Plan for such "limitation year" by the
         amount of the "Section 415 suspense account" allocated and reallocated
         during such "limitation year".

                  For purposes of this Article, "excess amount" for any
         Participant for a "limitation year" shall mean the excess, if any, of
         (1) the "annual additions" which would be credited to his account under
         the terms of the Plan without regard to the limitations of Code Section
         415 over (2) the maximum "annual additions" determined pursuant to
         Section 4.4.

                  For purposes of this Section, "Section 415 suspense account"
         shall mean an unallocated account equal to the sum of "excess amounts"
         for all Participants in the Plan during the "limitation year." The
         "Section 415 suspense account" shall not share in any earnings or
         losses of the Trust Fund.

                  The Plan may not distribute or return "excess amounts", other
         than elective deferrals (within the meaning of Code Section 402(g) (3))
         or Employee contributions (whether voluntary or mandatory) and gains
         attributable to such elective deferrals and Employee contributions, to
         Participants or Former Participants.

         DIRECT INVESTMENT ACCOUNT

                  Each "Qualified Participant" may elect within ninety (90) days
         after the close of each Plan Year during the "Qualified Election
         Period" to direct the Trustee in writing as to the distribution in cash
         of 25 percent of the total number of shares of Company Stock acquired
         by or contributed to the Plan that have ever been allocated to such
         "Qualified Participant's, Company Stock Account (reduced by the number
         of shares of Company Stock previously distributed in cash pursuant to a
         prior election). In the case of the election year in which the
         Participant can make his last election, the preceding sentence shall be
         applied by substituting "50 percent" for "25 percent." If the
         "Qualified Participant" elects to direct the Trustee as to the
         distribution of his Company Stock Account, such direction shall be
         effective no later than 180 days after the close of the Plan Year to
         which such direction applies.

Notwithstanding the above, if the fair market value (determined pursuant to
Section 6.1 at the Plan Valuation Date immediately preceding the first day on
which a "Qualified Participant" is eligible to make an election) of Company
Stock acquired by or contributed to the Plan and allocated to a "Qualified
Participant's" Company Stock Account is $500, or less, then such Company Stock
shall not be subject to this paragraph. For purposes of determining whether the
fair market value exceeds $500. Company Stock held in accounts of all employee
stock ownership plans (as defined in Code Section 4975 (e) (7)) and tax credit
employee stock ownership plans (as defined in Code Section 409(a)) maintained by
the Employer or any Affiliated Employer shall be considered as held by the Plan.

                  For the purposes of this Section the following definitions
         shall apply:

                                       26

<PAGE>

                           "Qualified Participant' means any Participant or
                  Former Participant who has completed ten (10) Years of Service
                  as a Participant and has attained age 53.

                           "Qualified Election Period" means the six (6) Plan
                  Year period beginning with the later (i) of the first Plan
                  Year in which the Participant first became a "Qualified
                  Participant, or (ii) the first Plan Year beginning after
                  December 31. 1986.

                          FUNDING AND INVESTMENT POLICY

         INVESTMENT POLICY

                  The Plan is designed to invest primarily in Company Stock.

                  With due regard to subparagraph (a) above, the Administrator
         may also direct the Trustee to invest funds under the Plan in other
         property described in the Trust or in life insurance policies to the
         extent permitted by subparagraph (c) below, or the Trustee may hold
         such funds in cash or cash equivalents.

                  With due regard to subparagraph (a) above, the Administrator
         may also direct the Trustee to invest funds under the Plan in insurance
         policies on the life of any "keyman" Employee. The proceeds of a
         "keyman" insurance policy may not be used for the repayment of any
         indebtedness owed by the Plan which is secured by Company Stock. In the
         event any "keyman" insurance is purchased by the Trustee, the premiums
         paid thereon during any Plan Year, net of any policy dividends and
         increases in cash surrender values, shall be treated as the cost of
         Plan investment and any death benefit or cash surrender value received
         shall be treated as proceeds front an investment of the Plan.

                  The Plan may not obligate itself to acquire Company Stock from
         a particular holder thereof at an indefinite time determined upon the
         happening of an event such as the death of the holder.

                  The Plan may not obligate itself to acquire Company Stock
         under a put option binding upon the Plan. However, at the time a put
         option is exercised, the Plan may be given an option to assume the
         rights and obligations of the Employer under a put option binding upon
         the Employer.

                  All purchases of Company Stock shall be made at a price which,
         in the judgment of the Administrator, does not exceed the fair market
         value thereof. All sales of Company Stock shall be made at a price
         which, in the judgment of the Administrator, is not less than the fair
         market value thereof. The valuation rules set forth in Article VI shall
         be applicable.

                                       27

<PAGE>

         APPLICATION OF CASH

         Employer contributions in cash shall first be applied to pay any
Current Obligations of the Trust Fund.

         TRANSACTIONS INVOLVING COMPANY STOCK

                  No portion of the Trust Fund attributable to (or allocable in
         lieu of) Company Stock acquired by the Plan in a sale to which Code
         Section 1042 applies may accrue or be allocated directly or indirectly
         under any plan maintained by the Employer meeting the requirements of
         Code Section 401(a):

                           during the "Nonallocation Period," for the benefit of

                                  any taxpayer who makes an election under Code
                                  Section 1042(a) with respect to Company Stock,

                                  any individual who is related to the taxpayer
                                  (within the meaning of Code Section 267(b)),
                                  or

                           for the benefit of any other person who owns (after
                  application of Code Section 318(a) applied without regard to
                  the employee trust exception in Code Section 318(a) (2) (3)
                  (i), more than 25 percent of

                                  any class of outstanding stock of the Employer
                                  or Affiliated Employer which issued such
                                  Company Stock, or

                                  the total value of any class of outstanding
                                  stock of the Employer or Affiliated Employer.

                  Except, however, subparagraph (a) (1) (ii) above shall not
         apply to lineal descendants of the taxpayer, provided that the
         aggregate amount allocated to the benefit of all such lineal
         descendants during the "Nonallocation Period" does not exceed more than
         five (5) percent of the Company Stock (or amounts allocated in lieu
         thereof) held by the Plan which are attributable to a sale to the Plan
         by any person related to such descendants (within the meaning of Code
         Section 267(c) (4)) in a transaction to which Code Section 1042 is
         applied.

                  A person shall be treated as failing to meet the stock
         ownership limitation under paragraph (a) (2) above if such person fails
         such limitation:

                           at any time during the one (1) year period ending on
                  the date of sale of Company Stock to the Plan, or

                           on the date as of which Company Stock is allocated to
                  Participants in the plan.

                                       28

<PAGE>

                  For purposes of this Section, "Nonallocation Period" means the
         period beginning on the date of the sale of the Company Stock and
         ending on the later of:

                           the date which is ten (10) years after the date of
                  sale, or

                           the date of the Plan allocation attributable to the
                  final payment of the Exempt Loan incurred in connection with
                  such sale.

         LOANS TO THE TRUST

                  The Plan may borrow money for any lawful purpose, provided the
         proceeds of an Exempt Loan are used within a reasonable time after
         receipt only for any or all of the following purposes:

                           To acquire Company Stock.

                           To repay such loan.

                           To repay a prior Exempt Loan.

                  All loans to the Trust which are made or guaranteed by a
         disqualified person must satisfy all requirements applicable to Exempt
         Loans including but not limited to the following:

                           The loan must be at a reasonable rate of interest;

                           Any collateral pledged to the creditor by the Plan
                  shall consist only of the Company Stock purchased with the
                  borrowed funds;

                           Under the terms of the loan, any pledge of Company
                  Stock shall provide for the release of shares so pledged on a
                  pro-rata basis pursuant to Section 4.3(f);

                           Under the terms of the loan, the creditor shall have
                  no recourse against the Plan except with respect to such
                  collateral, earnings attributable to such collateral, Employer
                  contributions (other than contributions of Company Stock) that
                  are made to meet Current Obligations and earnings attributable
                  to such contributions;

                           The loan must be for a specific term and may not be
                  payable at the demand of any person, except in the case of
                  default;

                           In the event of default upon an Exempt Loan, the
                  value of the Trust Fund transferred in satisfaction of the
                  Exempt Loan shall not exceed the amount of default. If the
                  lender is a disqualified person, an Exempt Loan shall provide
                  for a transfer of Trust Funds upon default only upon and to
                  the extent of the failure of the Plan to meet the payment
                  schedule of the Exempt Loan;

                           Exempt Loan payments during a Plan Year must not
                  exceed an amount equal to: (A) the sum, over all Plan Years,
                  of all contributions and cash dividends

                                       29

<PAGE>

                  paid by the Employer to the Plan with respect to such Exempt
                  Loan and earnings on such Employer contributions and cash
                  dividends, less (B) the sum of the Exempt Loan payments in all
                  preceding Plan Years. A separate accounting shall be
                  maintained for such Employer contributions, cash dividends and
                  earnings until the Exempt Loan is repaid.

                  For purposes of this Section, the term "disqualified person"
         means a person who is a Fiduciary, a person providing services to the
         Plan, an Employer any of whose Employees are covered by the Plan, an
         employee organization any of whose members are covered by the Plan, an
         owner, direct or indirect, of 50% or more of the total combined voting
         power of all classes of voting stock or of the total value of all
         classes of the stock, or an officer, director, 10% or more shareholder
         or a highly compensated Employee.

                                    VALUATION

         VALUATION OF THE TRUST FUND

         The Administrator shall direct the Trustee, as of each Valuation Date,
to determine the net worth of the assets comprising the Trust Fund as it exists
on the Valuation Date. In determining such net worth, the Trustee shall value
the assets comprising the Trust Fund at their fair market value as of the
Valuation Date and shall deduct all expenses for which the Trustee has not yet
obtained reimbursement from the Employer or the Trust Fund.

         METHOD OF VALUATION

         Valuations must be made in good faith and based on all relevant factors
for determining the fair market value of securities. In the case of a
transaction between a Plan and a disqualified person, value must be determined
as of the date of the transaction. For all other Plan purposes, value must be
determined as of the most recent Valuation Date under the Plan. An independent
appraisal will not in itself be a good faith determination of value in the case
of a transaction between the Plan and a disqualified person. However, in other
cases, a determination of fair market value based on at least an annual
appraisal independently arrived at by a person who customarily makes such
appraisals and who is independent of any party to the transaction will be deemed
to be a good faith determination of value. Company Stock not readily tradeable
on an established securities market shall be valued by an independent appraiser
meeting requirements similar to the requirements of the Regulations prescribed
under Code Section 170 (a) (1).

                   DETERMINATION AND DISTRIBUTION OF BENEFITS

         DETERMINATION OF BENEFITS UPON RETIREMENT

         Every Participant may terminate his employment with the Employer and
retire for the purposes hereof on his Normal Retirement Date or Early Retirement
Date. However, a Participant may postpone the termination of his employment with
the Employer to a later date, in which event the participation of such
Participant in the plan, including the right to receive allocations pursuant to
Section 4.3, shall continue until his Late Retirement Date. Upon a

                                       30

<PAGE>

Participant's Retirement Date, or as soon thereafter as is practicable, the
Trustee shall, at the election of the Participant. distribute all amounts
credited to such Participant's Account in accordance with Section 7.5 and 7.6.

         DETERMINATION OF BENEFITS UPON DEATH

                  Upon the death of a Participant before his Retirement Date or
         other termination of his employment, all amounts credited to such
         Participant's Account shall become fully Vested. If elected,
         distribution of the Participant's Account shall commence not later than
         one (1) year after the close of the Plan Year in which such
         Participant's death occurs. The Administrator shall direct the Trustee,
         in accordance with the provisions of Sections 7.5 and 7.6, to
         distribute the value of the deceased Participant's accounts to the
         Participant's Beneficiary.

                  Upon the death of a Former Participant, the Administrator
         shall direct the Trustee, in accordance with the provisions of Sections
         7.5 and 7.6, to distribute any remaining Vested amounts credited to the
         accounts of a deceased Former Participant to such Former Participant's
         Beneficiary.

                  The Administrator may require such proper proof of death and
         such evidence of the right of any person to receive payment of the
         value of the account of a deceased Participant or Fanner Participant as
         the Administrator may deem desirable. The Administrator's determination
         of death and of the right of any person to receive payment shall be
         conclusive.

                  The Beneficiary of the death benefit payable pursuant to this
         Section shall be the Participant's spouse. Except, however, the
         participant may designate a Beneficiary other than his spouse if:

                         the spouse has waived the right to be the Participant's
                  Beneficiary, or

                         the Participant is legally separated or has been
                  abandoned (within the meaning of local law) and the
                  Participant has a court order to such effect (and there is no
                  "qualified domestic relations order" as defined in Code
                  Section 414 (p) which provides otherwise), or

                         the participant has no spouse, or

                         the spouse cannot be located.

In such event, the designation of a Beneficiary shall be made on a form
satisfactory to the Administrator. A Participant may at any time revoke his
designation of a Beneficiary or change his Beneficiary by filing written notice
of such revocation or change with the Administrator. However, the Participant's
spouse must again consent in writing to any change in Beneficiary unless the
original consent acknowledged that the spouse had the right to limit consent
only to a specific Beneficiary and that the spouse voluntarily elected to
relinquish such right. In the event no valid designation of Beneficiary exists
at the time of the Participant's death, the death benefit shall be payable to
his estate.

                                       31

<PAGE>

                  Any consent by the Participant's spouse to waive any rights to
         the death benefit must be in writing, must acknowledge the effect of
         such waiver, and be witnessed by a Plan representative or a notary
         public. Further, the spouse's consent must be irrevocable and must
         acknowledge the specific nonspouse Beneficiary.

         DETERMINATION OF BENEFITS IN EVENT OF DISABILITY

         In the event of a Participant's Total and Permanent Disability prior to
his Retirement Date or other termination of his employment, all amounts credited
to such Participant's Account shall become fully Vested. In the event of a
Participant's Total and Permanent Disability, the Trustee, in accordance with
the provisions of Sections 7.5 and 7.6, shall distribute to such Participant all
amounts credited to such Participant's Account as though he had retired. If such
Participant elects, distribution shall commence not later than one (1) year
after the close of the Plan Year in which Total and Permanent Disability occurs.

         DETERMINATION OF BENEFITS UPON TERMINATION

                  If a Participant's employment with the Employer is terminated
         for any reason other than death, Total and Permanent Disability or
         retirement, such Participant shall be entitled to such benefits as are
         provided hereinafter pursuant to this Section 7.4.

If a portion of a Participant's Account is forfeited, Company Stock allocated to
the Participant's Company Stock Account must be forfeited only after the
Participant's Other Investments Account has been depleted. If interest in more
than one class of Company Stock has been allocated to a Participant's Account,
the Participant must be treated as forfeiting the same proportion of each such
class.

         In the event that the amount of the vested portion of the Terminated
Participant's Account equals or exceeds the fair market value of any insurance
Contracts, the Trustee, when so directed by the Administrator and agreed to by
the Terminated Participant, shall assign, transfer, and set over to such
Terminated Participant all Contracts on his life in such form or with such
endorsements so that the settlement options and forms of payment are consistent
with the provisions of Section 7.5. In the event that the Terminated
Participant's Vested portion does not at least equal the fair market value of
the Contracts, if any, the Terminated Participant may pay over to the Trustee
the sum needed to make the distribution equal to the value of the Contracts
being assigned or transferred, or the Trustee, pursuant to the Participant's
election, may borrow the cash value of the Contracts from the insurer so that
the value of the Contracts is equal to the Vested portion of the Terminated
Participant's Account and then assign the Contracts to the Terminated
Participant.

         Distribution of the funds due to a Terminated Participant shall be made
on the occurrence of an event which would result in the distribution had the
Terminated Participant remained in the employ of the Employer (upon the
Participant's death, Total and Permanent Disability, Early or Normal
Retirement). However, at the election of the Participant, the Administrator
shall direct the Trustee to cause the entire Vested portion of the Terminated
Participant's Account attributable to Company Stock to be payable to such
Terminated Participant one (1) year after the close of the Plan Year which is
the fifth Plan Year following the Plan Year in which the

                                       32

<PAGE>

Participant otherwise separates from service. However, if such Terminated
Participant is reemployed by the Employer before distribution is required to be
made under this paragraph, such distribution shall be postponed. Any
distribution under this paragraph shall be made in a manner which is consistent
with and satisfies the provisions of Sections 7.5 and 7.6, including, but not
limited to, all notice and consent requirements of Code Section 411(a) (11) and
the Regulations thereunder.

         If the value of a Terminated Participant's Vested benefit derived from
Employer and Employee contributions does not exceed $3,500 ($5,000 for Plan
Years beginning after August 5, 1997) and has never exceeded $3,500 or $5,000,
whichever is applicable, at the time of any prior distribution, the
Administrator shall direct the Trustee to cause the entire Vested benefit to be
paid to such Participant in a single lump sum.

         For purposes of this Section 7.4, if the value of a Terminated
participant's Vested benefit is zero, the Terminated Participant shall be deemed
to have received a distribution of such Vested benefit.

                  The Vested portion of any Participant's Account shall be a
         percentage of the total amount credited to his Participant's Account
         determined on the basis of the Participant's number of Years of Service
         according to the following schedule:

         Vesting Schedule

         Years of Service                                    Percentage

         Less than 5                                         0%

         5                                                   100%

                  Notwithstanding the vesting schedule provided for in paragraph
         (b) above, for any Top Heavy Plan Year, the Vested portion of the
         Participant's Account of any Participant who has an Hour of Service
         after the Plan becomes top heavy shall be a percentage of the total
         amount credited to his Participant's Account determined on the basis of
         the Participant's number of Years of Service according to the following
         schedule:

         Vesting Schedule

         Years of Service                                    Percentage

         Less than 3                                         0%

         3                                                   100%

         If in any subsequent Plan Year, the Plan ceases to be a Top Heavy Plan,
the Administrator shall revert to the vesting schedule in effect before this
Plan became a Top Heavy Plan. Any such reversion shall be treated as a Plan
amendment pursuant to the terms of the Plan.

                  Notwithstanding the vesting schedule above, upon the complete
         discontinuance of the Employer contributions to the plan or upon any
         full or partial termination of the Plan,

                                       33

<PAGE>

         all amounts credited to the account of any affected Participant shall
         become 100% Vested and shall not thereafter be subject to Forfeiture.

                  Notwithstanding the vesting schedule above, each Participant's
         Account in the Plan shall become 100% vested upon the effective date of
         a Change in Control as defined below, of the Employer. For purposes of
         this paragraph, a "Change in Control' shall mean a change in control of
         a nature that would be required to be reported in response to Item 6(e)
         of Schedule 14A of Regulation 14A promulgated under the Securities
         Exchange Act of 1934, as amended, or any successor thereto, whether or
         not the Employer is registered under the Exchange Act.

                  The computation of a Participant's nonforfeitable percentage
         of his interest in the Plan shall not be reduced as the result of any
         direct or indirect amendment to this Plan. For this purpose, the Plan
         shall be treated as having been amended if the Plan provides for an
         automatic change in vesting due to a change in top heavy status. In the
         event that the Plan is amended to change or modify any vesting
         schedule, a Participant with at least three (3) Years of Service as of
         the expiration date of the election period may elect to have his
         nonforfeitable percentage computed under the Plan without regard to
         such amendment. If a Participant fails to make such election, then such
         Participant shall be subject to the new vesting schedule. The
         Participant's election period shall commence on the adoption date of
         the amendment and shall end 60 days after the latest of:

                           the adoption date of the amendment,

                           the effective date of the amendment, or

                           the date the Participant receives written notice of
                  the amendment from the Employer or Administrator.

                  1.60 If any Former Participant shall be reemployed by the
         Employer before a 1-Year Break in Service occurs, he shall continue to
         participate in the Plan in the same manner as if such termination had
         not occurred.

                           If any Former Participant shall be reemployed by the
                  Employer before five (5) consecutive 1-Year Breaks in Service
                  and such Former Participant had received or was deemed to have
                  received, a distribution of his entire vested interest prior
                  to his reemployment, his forfeited account shall be reinstated
                  only if he repays the full amount distributed to him before
                  the earlier of five (5) years after the first date on which
                  the Participant is subsequently reemployed by the Employer or
                  the close of the first period of five (5) consecutive 1-Year
                  Breaks in Service commencing after the distribution, or in the
                  event of a deemed distribution, upon the reemployment of such
                  Former Participant. In the event the Former Participant does
                  repay the full amount distributed to him, or in the event of a
                  deemed distribution, the undistributed portion of the
                  participant's Account must be restored in full, unadjusted by
                  any gains or losses occurring subsequent to the Valuation Date
                  coinciding with or preceding his termination. The source for
                  such reinstatement shall first be any Forfeitures occurring
                  during the year. If such

                                       34

<PAGE>

                  source is insufficient, then the Employer shall contribute an
                  amount which is sufficient to restore any such forfeited
                  Accounts provided, however, that if a discretionary
                  contribution is made for such year, such contribution shall
                  first be applied to restore any such Accounts and the
                  remainder shall be allocated in accordance with Section 4.3.

                           If any Former Participant is reemployed after a
                  1-Year Break in Service has occurred, Years of Service shall
                  include Years of Service prior to his 1-Year break in Service
                  subject to the following rules:

                                If a Former Participant has a 1-Year Break in
                                Service, his pre-break and post-break service
                                shall be used for computing Years of Service for
                                eligibility and for vesting purposes only after
                                he has been employed for one (1) Year of Service
                                following the date of his reemployment with the
                                Employer;

                                Any Former Participant who under the Plan does
                                not have a nonforfeitable right to any interest
                                in the Plan resulting from Employer
                                contributions shall lose credits otherwise
                                allowable under (i) above if his consecutive
                                1-Year Breaks in Service equal or exceed the
                                greater of (A) five (5) or (B) the aggregate
                                number of his pre-break Years of Service;

                                After five (5) consecutive 1-Year Breaks in
                                Service, a Former Participant's Vested Account
                                balance attributable to pre-break service shall
                                not be increased as a result of post-break
                                service;

                                If a Former Participant is reemployed by the
                                Employer, he shall participate in the Plan
                                immediately on his date of reemployment;

                                If a Former Participant (a 1-Year Break in
                                Service previously occurred, but employment had
                                not terminated) is credited with an Hour of
                                Service after the first eligibility computation
                                period in which he incurs a 1-Year Break in
                                Service, he shall participate in the Plan
                                immediately.

         DISTRIBUTION OF BENEFITS

                  The Administrator, pursuant to the election of the Participant
         (or if no election has been made prior to the Participant's death, by
         his Beneficiary), shall direct the Trustee to distribute to a
         Participant or his Beneficiary any amount to which he is entitled under
         the Plan in one lump-sum payment.

                  Any distribution to a Participant who has a benefit which
         exceeds, or has ever exceeded, $3,500 ($5,000 for Plan Years beginning
         after August 5, l997) at the time of any prior distribution shall
         require such Participant's consent if such distribution occurs prior to
         the later of his Normal Retirement Age or age 62. With regard to this
         required Consent:

                                       35

<PAGE>

                           The Participant must be informed of his right to
                  defer receipt of the distribution. If a Participant fails to
                  consent, it shall be deemed an election to defer the
                  distribution of any benefit. However, any election to defer
                  the receipt of benefits shall not apply with respect to
                  distributions which are required under Section 7.5(e).

                           Notice of the rights specified under this paragraph
                  shall be provided no less than 30 days and no more than 90
                  days before the date the distribution commences.

                           Written consent of the Participant to the
                  distribution must not be made before the Participant receives
                  the notice and must not be made more than 90 days before the
                  date the distribution commences.

                           No consent shall be valid if a significant detriment
                  is imposed under the Plan on any Participant who does not
                  consent to the distribution.

         Any such distribution may commence less than 30 days after the notice
required under Regulation l.411(a)-l1(c) is given, provided that: (1) the
Administrator clearly informs the Participant that the Participant has a right
to a period of at least 30 days after receiving the notice to consider the
decision of whether or not to elect a distribution (and, if applicable, a
particular distribution option), and (2) the Participant, after receiving the
notice, affirmatively elects a distribution.

                  Notwithstanding anything herein to the contrary, the
         Administrator, in his sole discretion, may direct that cash dividends
         on shares of Company Stock allocable to Participants or Former
         Participants' Company Stock Accounts be distributed to such
         Participants or Former Participants within 90 days after the close of
         the Plan Year in which the dividends are paid.

                  Any part of a Participant's benefit which is retained in the
         Plan after the Anniversary Date on which his participation ends will
         continue to be treated as a Company Stock Account or as an Other
         Investments Account (subject to Section 7.4(a)) as provided in Article
         IV. However, neither account will be credited with any further Employer
         contributions or Forfeitures.

                  Notwithstanding any provision in the Plan to the contrary, the
         distribution of a Participant's benefits shall be made in accordance
         with the following requirements and shall otherwise comply with Code
         Section 401(a) (9) and the Regulations thereunder (including Regulation
         1.401 (a) (9)-2), the provisions of which are incorporated herein by
         reference:

                           A Participant's benefits shall be distributed or must
                  begin to be distributed to him not later than April 1st of the
                  calendar year following the later of (i) the calendar year in
                  which the Participant attains age 70 1/2 or (ii) the calendar
                  year in which the Participant retires, provided, however, that
                  this clause (ii) shall not apply in the case of a Participant
                  who is a "five (5) percent owner" at any time during the five
                  (5) Plan Year period ending in the calendar year in which he

                                       36

<PAGE>

                  attains age 70 1/2 or, in the case of a Participant who
                  becomes a "five (5) percent owner" during any subsequent Plan
                  Year, clause (ii) shall no longer apply and the required
                  beginning date shall be the April 1st of the calendar year
                  following the calendar year in which such subsequent Plan Year
                  ends. Such distributions shall be equal to or greater than any
                  required distribution.

                           Distributions to a Participant and his Beneficiaries
                  shall only be made in accordance with the incidental death
                  benefit requirements of Code Section 401(a) (9) (G) and the
                  Regulations thereunder.

                  Notwithstanding any provision in the Plan to the contrary,
         distributions upon the death of a Participant shall be distributed in
         accordance with the following requirements and shall otherwise comply
         with Code Section 401(a) (9) and the Regulation thereunder. If it is
         determined pursuant to Regulations that the distribution of a
         Participant's interest has begun and the Participant dies before his
         entire interest has been distributed to him, the remaining portion of
         such interest shall be distributed at least as rapidly as under the
         method of distribution selected pursuant to Section 7.5 as of his date
         of death. If a Participant dies before he has begun to receive any
         distributions of his interest under the Plan or before distributions
         are deemed to have begun pursuant to Regulations, then his death
         benefit shall be distributed to his Beneficiaries by December 31st of
         the calendar year in which the fifth anniversary of his date of death
         occurs.

         However, the 5-year distribution requirement of the preceding paragraph
shall not apply to any portion of the deceased Participant's interest which is
payable to or for the benefit of a designated Beneficiary. In such event, such
portion shall be distributed over a period not extending beyond the life
expectancy of such designated Beneficiary provided such distribution begins not
later than December 31st of the calendar year immediately following the calendar
year in which the Participant died. However, in the event the Participant's
spouse (determined as of the date of the Participant's death) is his
Beneficiary, the requirement that distributions commence within one year of a
Participant's death shall not apply. In lieu thereof, distributions must
commence on or before the later of: (1) December 31st of the calendar year
immediately following the calendar year in which the Participant died; or (2)
December 31st of the calendar year in which the Participant would have attained
age 70 1/2. If the surviving spouse dies before distributions to such spouse
begin, then the 5-year distribution requirement of this Section shall apply as
if the spouse was the Participant.

                  For purposes of this Section, the life expectancy of a
         Participant and a Participant's spouse shall not be redetermined in
         accordance with code Section 401(a) (9) (D). Life expectancy and joint
         and last survivor expectancy shall be computed using the return
         multiples in Tables V and VI of Regulation 1.72-9.

                  Except as limited by Sections 7.5 and 7.6, whenever the
         Trustee is to make a distribution, the distribution may be made as soon
         as is practicable. However, unless a Former Participant elects in
         writing to defer the receipt of benefits (such election may not result
         in a death benefit that is more than incidental), the payment of
         benefits shall occur not later than the 60th day after the close of the
         Plan Year in which the latest of the following events occurs:

                                       37

<PAGE>

                           the date on which the Participant attains the earlier
                  of age 65 or the Normal Retirement Age specified herein;

                           the 10th anniversary of the year in which the
                  Participant commenced participation in the Plan; or

                           the date the Participant terminates his service with
                  the Employer.

                  If a distribution is made at a time when a Participant is not
         fully Vested in his Participant's Account and the Participant may
         increase the Vested percentage in such account:

                           a separate account shall be established for the
                  Participant's interest in the Plan as of the time of the
                  distribution; and

                           at any relevant time, the Participants Vested portion
                  of the separate account shall be equal to an amount ("X")
                  determined by the formula:

X equals P (AB plus (R x D)) - (R x D)

For purposes of applying the formula: P is the Vested percentage at the relevant
time, AB is the account balance at the relevant time, D is the amount of
distribution, and R is the ratio of the account balance at the relevant time to
the account balance after distribution.

         HOW PLAN BENEFIT WILL BE DISTRIBUTED

                  Distribution of a Participant benefit may be made in cash or
         Company Stock or both, provided, however, that if a Participant or
         Beneficiary so demands, such benefit shall be distributed only in the
         form of Company Stock. Prior to making a distribution of benefits, the
         Administrator shall advise the Participant or his Beneficiary, in
         writing, of the right to demand that benefits be distributed solely in
         Company Stock.

                  If a Participant or Beneficiary demands that benefits be
         distributed solely in Company Stock, distribution of a Participant's
         benefit will be made entirely in whole shares or other units of Company
         Stock. Any balance in a Participant's Other Investments Account will be
         applied to acquire for distribution the maximum number of whole shares
         or other units of Company Stock at the then fair market value. Any
         fractional unit value unexpended will be distributed in cash. If
         Company Stock is not available for purchase by the Trustee, then the
         Trustee shall hold such balance until Company Stock is acquired and
         then make such distribution, subject to Sections 7.5 and 7.5(e).

                  The Trustee will make distribution from the Trust only on
         instructions from the Administrator.

                  Notwithstanding anything contained herein to the contrary, if
         the Employer's charter or by-laws restrict ownership of substantially
         all shares of Company Stock to Employees and the Trust Fund, as
         described in Code Section 409(h) (2), the

                                       38

<PAGE>

         Administrator shall distribute a Participant's Account entirely in cash
         without granting the Participant the right to demand distribution in
         shares of Company Stock.

                  Notwithstanding anything contained herein to the contrary, the
         above-referenced right to receive distributions in the form of shares
         of Company Stock shall be automatically terminated in the event of the
         sale or other disposition by the trustees of all shares of Company
         Stock held by the Trust. Furthermore, if the Employer's articles of
         incorporation or bylaws restrict ownership of substantially all shares
         of Company Stock to Employees and the Trust Fund, as described in Code
         section 409(h) (2). the Administrator shall distribute a Participant's
         Account entirely in cash without granting the Participant the right to
         demand distribution in shares of Company Stock.

                  Except as otherwise provided herein, Company Stock distributed
         by the Trustee may be restricted as to sale or transfer by the by-laws
         or articles of incorporation of the Employer, provided restrictions are
         applicable to all Company Stock of the same class. If a Participant is
         required to offer the sale of his Company Stock to the Employer before
         offering to sell his Company Stock to a third party, in no event may
         the Employer pay a price less than that offered to the distributee by
         another potential buyer making a bona fide offer and in no event shall
         the Trustee pay a price less than the fair market value of the Company
         Stock.

                  If Company Stock acquired with the proceeds of an Exempt Loan
         (described in Section 5.4 hereof) is available for distribution and
         consists of more than one class, a Participant or his Beneficiary must
         receive substantially the same proportion of each such class.

         DISTRIBUTION FOR MINOR BENEFICIARY

         In the event a distribution is to be made to a minor, then the
Administrator may direct that such distribution be paid to the legal guardian,
or if none, to a parent of such Beneficiary a responsible adult with whom the
Beneficiary maintains his residence, or to the custodian for such beneficiary
under the Uniform Gift to Minors Act or Gift to Minors Act, if such is permitted
by the laws of the state in which said Beneficiary resides. Such a payment to
the legal guardian, custodian or parent of a minor Beneficiary shall fully
discharge the Trustee, Employer, and Plan from further liability on account
thereof.

         LOCATION OF PARTICIPANT OR BENEFICIARY UNKNOWN

In the event that all, or any portion, of the distribution payable to a
Participant or his Beneficiary hereunder shall, at the later of the
Participant's attainment of age 62 or his Normal Retirement Age, remain unpaid
solely by reason of the inability of the Administrator, after sending a
registered letter, return receipt requested, to the last known address, and
after further diligent effort, to ascertain the whereabouts of such Participant
or his Beneficiary, the amount so distributable shall be treated as a Forfeiture
pursuant to the Plan. In the event a Participant or Beneficiary is located
subsequent to his benefit being reallocated, such benefit shall be restored
unadjusted for earnings or losses.

                                       39

<PAGE>

         NONTERMINABLE PROTECTIONS AND RIGHTS

         No Company Stock acquired with the proceeds of a loan described in
Section 5.4 hereof may be subject to a put, call, or other option, or buy-sell
or similar arrangement when held by and when distributed from the Trust Fund,
whether or not the Plan is then an ESOP. The protections and rights granted in
this Section are nonterminable, and such protections and rights shall continue
to exist under the terms of this Plan so long as any Company Stock acquired with
the proceeds of a loan described in Section 5.4 hereof is held by the Trust Fund
or by any Participant or other person for whose benefit such protections and
rights have been created, and neither the repayment of such loan nor the failure
of the Plan to be an ESOP, nor an amendment of the Plan shall cause a
termination of said protections and rights.

         QUALIFIED DOMESTIC RELATIONS ORDER DISTRIBUTION

         All rights and benefits, including elections, provided to a Participant
in this Plan shall be subject to the rights afforded to any "alternate payee", a
"qualified domestic relations order." Furthermore, a distribution to an
"alternate payee" shall be permitted if such distribution is authorized by a
"qualified domestic relations order," even if the affected Participant has not
separated from service and has not reached the "earliest retirement age" under
the Plan. For the purposes of this Section, "alternate payee," "qualified
domestic relations order" and "earliest retirement age" shall have the meaning
set forth under Code Section 414 (p).

                                     TRUSTEE

         BASIC RESPONSIBILITIES OF THE TRUSTEE

                  The Trustee shall have the following categories of
responsibilities:

                           Consistent with the "funding policy and method"
                  determined by the Employer, to invest, manage, and control the
                  Plan assets subject, however, to the direction of the Employer
                  or an Investment Manager if the Trustee should appoint such
                  manager as to all or a portion of the assets of the Plan;

                           At the direction of the Administrator, to pay
                  benefits required under the Plan to be paid to participants,
                  or, in the event of their death, to their Beneficiaries; and

                           To maintain records of receipts and disbursements and
                  furnish to the Employer and/or Administrator for each Plan
                  Year a written annual report per Section 8.7.

                  In the event that the Trustee shall be directed by the
         Employer, or an Investment Manager with respect to the investment of
         any or all Plan assets, the Trustee shall have no liability with
         respect to the investment of such assets, but shall be responsible only
         to execute such investment instructions as so directed.

                                       40

<PAGE>

                           The Trustee shall be entitled to rely fully on the
                  written instructions of the Employer, or any Fiduciary or
                  nonfiduciary agent of the Employer, in the discharge of such
                  duties, and shall not be liable for any loss or other
                  liability, resulting from such direction (or lack of
                  direction) of the investment of any part of the Plan assets.

                           The Trustee may delegate the duty to execute such
                  instructions to any nonfiduciary agent, which may be an
                  affiliate of the Trustee or any Plan representative.

                  If there shall be more than one Trustee, they shall act by a
         majority of their number, but may authorize one or more of them to sign
         papers on their behalf.

         INVESTMENT POWERS AND DUTIES OF THE TRUSTEE

                  The Trustee shall invest and reinvest the Trust Fund to keep
         the Trust Fund invested without distinction between principal and
         income and in such securities or property, real or personal, wherever
         situated, as the Trustee shall deem advisable, including, but not
         limited to, stocks, common or preferred, bonds and other evidences of
         indebtedness or ownership, and real estate or any interest therein. The
         Trustee shall at all times in making investments of the Trust Fund
         consider, among other factors, the short and long-term financial needs
         of the Plan on the basis of information furnished by the Employer. In
         making such investments, the Trustee shall not be restricted to
         securities or other property of the character expressly authorized by
         the applicable law for trust investments; however, the Trustee shall
         give due regard to any limitations imposed by the Code or the Act so
         that at all times the Plan may qualify as an Employee Stock Ownership
         Plan and Trust.

                  The Trustee may employ a bank or trust company pursuant to the
         terms of its usual and customary bank agency agreement, under which the
         duties of such bank or trust company shall be of a custodial, clerical
         and record-keeping nature.

                  In the event the Trustee invests any part of the Trust Fund,
         pursuant to the directions of the Administrator, in any shares of stock
         issued by the Employer, and the Administrator thereafter directs the
         Trustee to dispose of such investment, or any part thereof, under
         circumstances which, in the opinion of counsel for the Trustee, require
         registration of the securities under the Securities Act of 1933 and/or
         qualification of the securities under the Blue Sky laws of any state or
         states, then the Employer at its own expense, will take or cause to be
         taken any and all such action as, may be necessary or appropriate to
         effect such registration and/or qualification.

                  The Trustee, at the direction of the Administrator, shall
         ratably apply for, own, and pay premiums on Contracts on the lives of
         the Participants. If a life insurance policy is to be purchased for a
         Participant, the aggregate premium for ordinary life insurance for each
         Participant must be less than 50% of the aggregate of the contributions
         and Forfeitures to the credit of the Participant at any particular
         time. If term insurance is purchased with such contributions, the
         aggregate premium must be less than 25% of the

                                       41

<PAGE>

         aggregate contributions and Forfeitures allocated to a Participant's
         Account. If both term insurance and ordinary life insurance are
         purchased with such contributions, the amount expended for term
         insurance plus one-half of the premium for ordinary life insurance may
         not in the aggregate exceed 25% of the aggregate contributions and
         Forfeitures allocated to a Participant's Account. The Trustee must
         convert the entire value of the life insurance contracts at or before
         retirement into cash or provide for a periodic income so that no
         portion of such value may be used to continue life insurance protection
         beyond retirement, or distribute the Contracts to the Participant. In
         the event of any conflict between the terms of this Plan and the terms
         of any insurance Contract purchased hereunder, the Plan provisions
         shall control.

         OTHER POWERS OF THE TRUSTEE

         The Trustee, in addition to all powers and authorities under common
law, statutory authority, including the Act, and other provisions of the Plan
shall have the following powers and authorities, to be exercised in the
Trustee's sole discretion:

                  To purchase, or subscribe for, any, securities or other
         property and to retain the same. In conjunction with the purchase of
         securities, margin accounts may be opened and maintained;

                  To sell, exchange, convey, transfer, grant options to
         purchase, or otherwise dispose of any securities or other property held
         by the Trustee, by private contract or at public auction. No person
         dealing with the Trustee shall be bound to see to the application of
         the purchase money or to inquire into the validity, expediency, or
         propriety of any such sale or other disposition, with or without
         advertisement;

                  To vote upon any stocks, bonds, or other securities; to give
         general or special proxies or powers of attorney with or without power
         of substitution; to exercise any conversion privileges, subscription
         rights or other options, and to make any payments incidental thereto;
         to oppose, or to consent to, or otherwise participate in corporate
         reorganization or other changes affecting corporate securities, and to
         delegate discretionary powers, and to pay any assessments or charges in
         connection therewith; and generally to exercise any of the powers of an
         owner with respect to stocks, bonds, securities or other property.
         However, the Trustee shall not vote proxies relating to securities for
         which it has not been assigned full investment management
         responsibilities. In those cases where another party has such
         investment authority or discretion, the Trustee will deliver all
         proxies to said party who will then have full responsibility for voting
         those proxies;

                  To cause any securities or other property to be registered in
         the Trustee's own name or in the name of one or more of the Trustee's
         nominees, and to hold any investments in bearer form, but the books and
         records of the Trustee shall at all times show that all such
         investments are part of the Trust Fund;

                  To borrow or raise money for the purposes of the Plan in such
         amount, and upon such terms and conditions, as the Trustee shall deem
         advisable; and for any sum so

                                       42

<PAGE>

         borrowed, to issue a promissory note as Trustee, and to secure the
         repayment thereof by pledging all, or any part, of the Trust Fund; and
         no person lending money to the Trustee shall be bound to see to the
         application of the money lent or to inquire into the validity,
         expediency, or propriety of any borrowing;

                  To keep such portion of the Trust Fund in cash or cash
         balances as the Trustee may, from time to time, deem to be in the best
         interests of the Plan, without liability for interest thereon;

                  To accept and, retain for such time as the Trustee may deem
         advisable any securities or other property received or acquired as
         Trustee hereunder, whether or not such securities or other property
         would normally be purchased as investments hereunder;

                  To make, execute, acknowledge, and deliver any and all
         documents of transfer and conveyance and any and all other instruments
         that may be necessary or appropriate to carry out the powers herein
         granted;

                  To settle, compromise, or submit to arbitration any claims,
         debts, or damages due or owing to or from the plan, to commence or
         defend suits or legal or administrative proceedings, and to represent
         the Plan in all suits and legal and administrative proceedings;

                  To employ suitable agents and counsel and to pay their
         reasonable expenses and compensation, and such agent or counsel may or
         may not be agent or counsel for the Employer;

                  To apply for and procure from responsible insurance companies,
         to be selected by the Administrator, as an investment of the Trust Fund
         such annuity, or other Contracts (on the life of any Participant) as
         the Administrator shall deem proper; to exercise, at any time or from
         time to time, whatever rights and privileges may be granted under such
         annuity, or other Contracts; to collect, receive, and settle for the
         proceeds of all such annuity or other Contracts as and when entitled to
         do so under the provisions thereof;

                  To invest funds of the Trust in time deposits or savings
         accounts bearing a reasonable rate of interest in the Trustee's bank;

                  To invest in Treasury Bills and other forms of United States
         government obligations;

                  to invest in shares of investment companies registered under
         the Investment Company Act of 1940;

                  To deposit monies in federally insured savings accounts or
         certificates of deposit in banks or savings and loan associations;

                  To vote Company Stock as provided in Section 8.4;

                                       43

<PAGE>

                  To consent to or otherwise participate in reorganizations,
         recapitalizations, consolidations, mergers and similar transactions
         with respect to Company Stock or any other securities and to pay any
         assessments or charges in connection therewith;

                  To deposit such Company Stock (but only if such deposit does
         not violate the provisions of Section 8.4 hereof) or other securities
         in any voting trust, or with any protective or like committee, or with
         a trustee or with depositories designated thereby;

                  To sell or exercise any options, subscription rights and
         conversion privileges and to make any payments incidental thereto;

                  To exercise any of the powers of an owner, with respect to
         such Company Stock and other securities or other property comprising
         the Trust Fund. The Administrator, with the Trustee's approval, may
         authorize the Trustee to act on any administrative matter or class of
         matters with respect to which direction or instruction to the Trustee
         by the Administrator is called for hereunder without specific direction
         or other instruction from the Administrator;

                  To sell, purchase and acquire put or call options if the
         options are traded on and purchased through a national securities
         exchange registered under the Securities Exchange Act of 1934, as
         amended, or, if the options are not traded on a national securities
         exchange, are guaranteed by a member firm of the New York Stock
         Exchange;

                  To do all such acts and exercise all such rights and
         privileges, although not specifically mentioned herein, as the Trustee
         may deem necessary to carry out the purposes of the Plan.

         VOTING COMPANY STOCK

         If the Employer has a registration-type class of securities, each
Participant or Beneficiary shall be entitled to direct the Trustee as to the
manner in which the Company Stock which is entitled to vote and which is
allocated to the Company Stock Account of such Participant or Beneficiary is to
be voted. If the Employer does not have a registration-type class of securities,
each Participant or Beneficiary in the Plan shall be entitled to direct the
Trustee as to the manner in which voting rights on shares of Company Stock which
are allocated to the Company Stock Account of such Participant or Beneficiary
are to be exercised with respect to any corporate matter which involves the
voting of such shares with respect to the approval or disapproval of any
corporate merger or consolidation, recapitalization, reclassification,
liquidation, dissolution, sale of substantially all assets of a trade or
business, or such similar transaction as prescribed in Regulations. For purposes
of this Section, the term "registration-type class of securities" means: (A) a
class of securities required to be registered under Section 12 of the Securities
Exchange Act of 1934; and (B) a class of securities which would be required to
be so registered except for the exemption from registration provided in
subsection (g) (2) (H) of such Section 12.

         The Trustee shall vote all shares of Company Stock held by it as part
of the Plan assets in the Unallocated Company Stock Suspense Account in the same
proportion for and against proposals to stockholders of the Employer as
Participants and Beneficiaries actually vote shares of Company Stock which have
been allocated to their individual Company Stock Accounts;

                                       44

<PAGE>

provided, however, that notwithstanding the foregoing, if the Trustee determines
that compliance with the Act, compliance with the fiduciary duties of the
Trustee, or compliance with the Employer ESOP Voting Policy requires the shares
held in the Unallocated Company Stock Suspense Account to be voted in a
different manner, then the Trustee shall vote the shares held in the Unallocated
Company Stock Suspense Account in a manner that complies with the Act, the
Trustee's fiduciary duties, and the Employer ESOP Voting Policy. In the event
that not all shares of Company Stock which have been allocated to the individual
Company Stack Accounts of Participants and Beneficiaries are voted by the
Participants or Beneficiaries for or against particular proposals to
stockholders of the Employer, the shares allocated to individual Company Stock
Accounts which either abstained on the proposal to stockholders or were not
actually voted on such proposal shall be disregarded in determining the
percentage of Company Stock voted for and against the proposal to stockholders
by Participants and Beneficiaries. The Trustee shall not vote those shares of
Company Stock which have been allocated to the individual Company Stock Accounts
of Participants and Beneficiaries for which no instructions have been received,
unless the Trustee determines that compliance with the Act, compliance with the
fiduciary duties of the Trustee, or compliance with the Employer ESOP Voting
Policy requires the Trustee to vote such shares.

         Notwithstanding the foregoing, in the event that no shares of Company
Stock have been allocated to the Participant's Company Stock Account at the time
Company Stock is to be voted, the Trustee shall vote all shares of Company Stack
held by it as part of the Plan assets in the Unallocated Common Stock Suspense
Account in a manner determined by the Trustee to be for the exclusive benefit of
Participants and Beneficiaries.

         Notwithstanding the foregoing, if any agreement entered into by the
Trust provides for voting of any shares of Company Stock pledged as security for
any obligation of the Plan, then such shares of Company Stock shall be voted in
accordance with such agreement.

         In the event a tender offer is made for share of Company Stock,

                           The Trustee shall distribute in a timely manner to
                           each Participant or Beneficiary such information as
                           is distributed to holders of said stock in connection
                           with the tender or exchange offer.

                           All such stock held by the Trustee in Participant
                           Accounts shall be tendered or not tendered by the
                           Trustee in accordance with directions it receives
                           from Participants or Beneficiaries. Each Participant
                           or Beneficiary shall be entitled to direct the
                           Trustee with respect to the tender of such stock
                           allocated to his Account. The instructions received
                           by the Trustee from Participants or Beneficiaries
                           shall be held by the Trustee in confidence and shall
                           not be divulged or released to any person, including
                           officers or employees of any Employer.

                           The Trustee shall not tender any such stock allocated
                           to Participant Accounts with respect to which
                           directions by Participants or Beneficiaries are not
                           received.

                                       45

<PAGE>

                    The Trustee shall tender shares of Company Stock held in the
                    Unallocated Company Stock Suspense Account in the same
                    proportion in which Participants and Beneficiaries actually
                    tender the shares of Company Stock which have been allocated
                    to their individual Company Stock Accounts.

     Notwithstanding the foregoing, if the Employer has a registration-type
class of securities, each Participant or Beneficiary shall be entitled to direct
the Trustee as to the manner in which the Company stock which is entitled to
vote and which is allocated to the Company Stock Account of such Participant or
Beneficiary is to be voted. If the Employer does not have a registration-type
class of securities, each Participant or Beneficiary in the Plan shall be
entitled to direct the Trustee as to the manner in which voting rights on shares
of Company Stock which are allocated to the Company Stock Account of such
Participant or Beneficiary are to be exercised with respect to any corporate
matter which involves the voting of such shares with respect to the approval or
disapproval of any corporate merger or consolidation, recapitalization,
reclassification, liquidation, dissolution, sale of substantially all assets of
a trade or business, or such similar transaction as prescribed in Regulations.
For purposes of this Section the term registration-type class of securities:
means (A) a class of securities required to be registered under Section 12 of
the Securities Exchange Act of 1934; and (B) a class of securities which would
be required to be so registered except for the exemption from registration
provided in subsection (g) (2) (H) of such Section 12.

     If the Employer does not have a registration-type class of securities and
the by-laws of the Employer require the Plan to vote an issue in a manner that
reflects a one-man, one-vote philosophy, each Participant or Beneficiary shall
be entitled to cast one vote on an issue and the Trustee shall vote the shares
held by the Plan in proportion to the results of the votes cast on the issue by
the Participants and Beneficiaries.

     DUTIES OF THE TRUSTEE REGARDING PAYMENTS

          The Trustee shall make distributions front the Trust Fund at such
     times and in such numbers of shares or other units of Company Stock and
     amounts of cash to or for the benefit of the person entitled thereto under
     the Plan as the Administrator directs in writing. Any undistributed part of
     a Participant's interest in his accounts shall be retained in the Trust
     Fund until the Administrator directs its distribution. Where distribution
     is directed in Company Stock, the Trustee shall cause an appropriate
     certificate to be issued to the person entitled thereto and mailed to the
     address furnished it by the Administrator. Any portion of a Participant's
     Account to be distributed in cash shall be paid by the Trustee mailing its
     check to the same person at the same address. If a dispute arises as to who
     is entitled to or should receive any benefit or payment, the Trustee may
     withhold or cause to be withheld such payment until the dispute has been
     resolved.

           As directed by the Administrator, the Trustee shall make payments out
     of the Trust Fund. Such directions or instructions need not specify the
     purpose of the payments so directed and the Trustee shall not be
     responsible in any way respecting the purpose or propriety of such payments
     except as mandated by the Act.

                                       46

<PAGE>

          In the event that any distribution or payment directed by the
     Administrator shall be mailed by the Trustee to the person specified in
     such direction at the latest address of such person filed with the
     Administrator, and shall be returned to the Trustee because such person
     cannot be located at such address, the Trustee shall promptly notify the
     Administrator of such return, upon the expiration of sixty (60) days after
     such notification, such direction shall become void and unless and until a
     further direction by the Administrator is received by the Trustee with
     respect to such distribution or payment, the Trustee shall thereafter
     continue to administer the Trust as if such direction had not been made by
     the Administrator. The Trustee shall not be obligated to search for or
     ascertain the whereabouts of any such person.

     TRUSTEE'S COMPENSATION AND EXPENSES AND TAXES

           (i)   The Trustee shall be paid such reasonable compensation as shall
     from time to time be agreed upon in writing by the Employer and the
     Trustee. An individual serving as Trustee who already receives full-time
     pay from the Employer shall not receive compensation from the Plan. In
     addition, the Trustee shall be reimbursed for any reasonable expenses,
     including reasonable counsel fees incurred by it as Trustee. Such
     compensation and expenses shall be paid from the Trust Fund unless paid or
     advanced by the Employer. All taxes of any kind and all kinds whatsoever
     that may be levied or assessed under existing or future laws upon, or in
     respect of, the Trust Fund or the income thereof, shall be paid from the
     Trust Fund.

     ANNUAL REPORT OF THE TRUSTEE

          Within a reasonable period of time after the later of the Anniversary
Date or receipt of the Employer contribution for each Plan Year, the Trustee
shall furnish to the Employer and Administrator a written statement of account
with respect to the Plan Year for which such contribution was made setting
forth:

          the net income, or loss, of the Trust Fund;

          the gains, or losses, realized by the Trust Fund upon sales or other
     disposition of the assets;

          the increase, or decrease, in the value of the Trust Fund;

          all payments and distributions made from the Trust Fund; and

          such further information as the Trustee and/or Administrator deems
     appropriate. The Employer forthwith upon its receipt of each such statement
     of account, shall acknowledge receipt thereof in writing and advise the
     Trustee and/or Administrator of its approval or disapproval thereof.
     Failure by the Employer to disapprove any such statement of account within
     thirty (30) days after its receipt thereof shall be deemed an approval
     thereof. The approval by the Employer of any statement of account shall be
     binding as to all matters embraced therein as between the Employer and the
     Trustee to the same extent as if the account of the Trustee had been
     settled by judgment or decree in an action for a judicial settlement of its
     account in a court of competent jurisdiction in

                                       47

<PAGE>

     which the Trustee, the Employer and all persons having or claiming an
     interest in the Plan were parties; provided however, that nothing herein
     contained shall deprive the Trustee of its right to have its accounts
     judicially settled if the Trustee so desires.

     AUDIT

          If an audit of the Plan's records shall be required by the Act and the
     regulations thereunder for any Plan Year, the Administrator shall direct
     the Trustee to engage on behalf of all Participants an independent
     qualified public accountant for that purpose. Such accountant shall, after
     an audit of the books and records of the Plan in accordance with generally
     accepted auditing standards, within a reasonable period after the close of
     the Plan Year, furnish to the Administrator and the Trustee a report of his
     audit setting forth his opinion as to whether any statements, schedules or
     lists that are required by Act Section 103 or the Secretary of Labor to be
     filed with the Plan's annual report, are presented fairly in conformity
     with generally accepted accounting principles applied consistently. All
     auditing and accounting fees shall be an expense of and may, at the
     election of the Administrator, be paid from the Trust Fund.

          If some or all of the information necessary to enable the
     Administrator to comply with Act Section 103 is maintained by a bank,
     insurance company, or similar institution, regulated and supervised and,
     subject to periodic examination by a state or federal agency, it shall
     transmit and certify the accuracy of that information to the Administrator
     as provided in Act Section 103(b) within one hundred twenty (120) days
     after the end of the Plan Year or by such other date as may be prescribed
     under regulations of the Secretary of Labor.

     RESIGNATION, REMOVAL AND SUCCESSION OF TRUSTEE

          The Trustee may resign at any time by delivering to the employer, at
     least thirty (30) days before its effective date, a written notice of his
     resignation.

          The employer may remove the Trustee by mailing by registered or
     certified mail, addressed to such Trustee at his last known address, at
     least thirty (30) days before its effective date, a written notice of his
     removal.

          Upon the death, resignation, incapacity, or removal of any Trustee, a
     successor may be appointed by the employer; and such successor, upon
     accepting such appointment in writing and delivering same to the Employer,
     shall, without further act, become vested with all the estate, rights,
     powers, discretions, and duties of his predecessor with like respect as if
     he were originally named as a Trustee herein. Until such a successor is
     appointed, the remaining Trustee or Trustees shall have full authority to
     act under the terms of the Plan.

          The Employer may designate one or more successors prior to the death,
     resignation, incapacity, or removal of a Trustee. In the event a successor
     is so designated by the employer and accepts such designation, the
     successor shall, without further act, become vested with all the estate,
     rights, powers, discretions, and duties of his

                                       48

<PAGE>

     Predecessor with the like effect as if he were originally named as Trustee
     herein immediately upon the death, resignation, incapacity, or removal of
     his predecessor.

          Whenever any Trustee hereunder ceases to serve as such, he shall
     furnish to the Employer and Administrator a written statement of account
     with respect to the portion of the Plan Year during which he served as
     Trustee. This statement shall be either (i) included as part of the annual
     statement of account for the Plan Year required under Section 8.7 or (ii)
     set forth in a special statement. Any such special statement of account
     should be rendered to the Employer no later than the due date of the annual
     statement of account for the Plan Year. The procedures set forth in Section
     8.7 for the approval by the Employer of annual statements of account shall
     apply to any special statement of account rendered hereunder and approval
     by the Employer of any such special statement in the manner provided in
     Section 8.7 shall have the same effect upon the statement as the Employer's
     approval of an annual statement of account. No successor to the Trustee
     shall have any duty or responsibility to investigate the acts or
     transactions of any predecessor who has rendered all statements of account
     required by Section 8.7 and this subparagraph.

     TRANSFER OF INTEREST

          Notwithstanding any other provision contained in this Plan, the
Trustee at the direction of the Administrator shall transfer the Vested
interest, if any, of such Participant in his account to another trust forming
part of a pension, profit sharing or stock bonus plan maintained by such
Participant's new employer and represented by said employer in writing as
meeting the requirements of Code Section 401(a), provided that the trust to
which such transfers are made permits the transfer to be made.

     DIRECT ROLLOVER

          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 Administrator,
     to have any portion of an eligible rollover distribution that is equal to
     at least $500 paid directly to an eligible retirement plan specified by the
     distributee in a direct rollover.

          For purposes of this Section the following definitions shall apply:

               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 Code
          Section 401(a) (9); the portion of any other distribution that is not
          includible in gross income (determined without regard to the exclusion
          for net unrealized appreciation with respect to employer securities);

                                       49

<PAGE>

          and any other distribution that is reasonably expected to total less
          than $200 during a year.

               An eligible retirement plan is an individual retirement account
          described in Code Section 408(a), an individual retirement annuity
          described in Code Section 408 (b), an annuity plan described in Code
          Section 403 (a), or a qualified trust described in Code Section
          401(a), that accepts the distributee's eligible rollover distribution.
          However, in the case of an eligible rollover distribution to the
          surviving spouse, an eligible retirement plan is an individual
          retirement account or individual retirement annuity.

               A distributee includes an Employee or former Employee. In
          addition the Employee's or former Employee's surviving spouse and the
          Employee's or former Employee's spouse or former spouse who is the
          alternate payee under a qualified domestic relations order, as defined
          in Code Section 414(p), are distributees with regard to the interest
          of the spouse or former spouse.

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

                       AMENDMENT, TERMINATION AND MERGERS

     AMENDMENT

          The Employer shall have the right at any time to amend the Plan,
     subject to the limitations of this Section. However, any amendment which
     affects the rights, duties or responsibilities of the Trustee and
     Administrator, other than an amendment to remove the Trustee or
     Administrator, may only be made with the Trustee's and Administrator's
     written consent. Any such amendment shall become effective as provided
     therein upon its execution. The Trustee shall not be required to execute
     any such amendment unless the Trust provisions contained herein are a part
     of the Plan and the amendment affects the duties of the Trustee hereunder.

          No amendment to the Plan shall be effective if it authorizes or
     permits any part of the Trust Fund (other than such part as is required to
     pay taxes and administration expenses) to be used for or diverted to any
     purpose other than for the exclusive benefit of the Participants or their
     Beneficiaries or estates; or causes any reduction in the amount credited to
     the account of any Participant; or causes or permits any portion of the
     Trust Fund to revert to or become property of the Employer.

          Except as permitted by Regulations, no Plan amendment or transaction
     having the effect of a Plan amendment (such as a merger, plan transfer or
     similar transaction) shall be effective to the extent it eliminates or
     reduces any "Section 411(d) (6) protected benefit" or adds or modifies
     conditions relating to "Section 411(d) (6) protected benefits" the result
     of which is a further restriction on such benefit unless such protected
     benefits are preserved with respect to benefits accrued as of the later of
     the adoption date or effective date of the amendment. "Section 411(d) (6)
     protected benefits" are benefits

                                       50

<PAGE>

     described in Code Section 411(d) (6) (A), early retirement benefits and
     retirement-type subsidies, and optional forms of benefit.

          In addition, no such amendment shall have the effect of terminating
the protections and rights set forth in Section 7.9, unless such termination
shall then be permitted under the applicable provisions of the Code and
Regulations; such a termination is currently expressly prohibited by Regulation
54.4975-11(a)(3)(ii).

     TERMINATION

          The Employer shall have the right at any time to terminate the Plan by
     delivering to the Trustee and Administrator written notice of such
     termination. Upon any full or partial termination, all amounts credited to
     the affected Participants' Accounts shall become 100% Vested as provided in
     Section 7.4 and shall not thereafter be subject to forfeiture, and all
     unallocated accounts shall be allocated to the accounts of all Participants
     in accordance with the provisions hereof.

          Upon the full termination of the Plan, the Employer shall direct the
     distribution of the assets of the Trust Fund to Participants in a manner
     which is consistent with and satisfies the provisions of Sections 7.5 and
     7.6. Except as permitted by Regulations, the termination of the Plan shall
     not result in the reduction of "Section 411(d) (6) protected benefits" in
     accordance with Section 9.1(c).

     MERGER OR CONSOLIDATION

          This Plan and Trust may be merged or consolidated with, or its assets
and/or liabilities may be transferred to any other plan and trust only if the
benefits which would be received by a Participant of this Plan, in the event of
a termination of the plan immediately after such transfer, merger or
consolidation, are at least equal to the benefits the Participant would have
received if the Plan had terminated immediately before the transfer, merger or
consolidation, and such transfer, merger or consolidation does not otherwise
result in the elimination or reduction of any "Section 411(d) (6) protected
benefits" in accordance with Section 9.1(c).

                                    TOP HEAVY

     TOP HEAVY PLAN REQUIREMENTS

          For any Top Heavy Plan Year, the Plan shall provide the special
vesting requirements of Code Section 416 (b) pursuant to Section 7.4 of the Plan
and the special minimum allocation requirements of Code Section 416(c) pursuant
to Section 4.3 of the Plan.

     DETERMINATION OF TOP HEAVY STATUS

          This Plan shall be a Top Heavy Plan for any Plan Year in which, as of
     the Determination Date, (1) the Present Value of Accrued Benefits of Key
     Employees and (2) the sum of the Aggregate Accounts of Key Employees under
     this Plan and all plans of an

                                       51

<PAGE>

       Aggregation Group, exceeds sixty percent (60%) of the Present Value of
       Accrued Benefits and the Aggregate Accounts of all Key and Non-Key
       Employees under this Plan and all plans of an Aggregation Group.

              If any Participant is a Non-Key Employee for any Plan Year, but
       such Participant was a Key Employee for any prior Plan Year, such
       Participant's Present Value of Accrued Benefit and/or Aggregate Account
       balance shall not be taken into account for purposes of determining
       whether this Plan is a Top Heavy or Super Top Heavy Plan (or whether any
       Aggregation Group which includes this Plan is a Top Heavy Group). In
       addition, if a Participant or Former Participant has not performed any
       services for any Employer maintaining the Plan at any time during the
       five year period ending on the Determination Date, any accrued benefit
       for such Participant or Former Participant shall not be taken into
       account for the purposes of determining whether this Plan is a Top Heavy
       or Super Top Heavy Plan.

              This Plan shall be a Super Top Heavy Plan for any Plan Year in
       which, as of the Determination Date, (1) the Present Value of Accrued
       Benefits of Key Employees and (2) the sum of the Aggregate Accounts of
       Key Employees under this Plan and all plans of an Aggregation Group,
       exceeds ninety percent (90%) of the Present Value of Accrued Benefits and
       the Aggregate Accounts of all Key and Non-Key Employees under this Plan
       and all plans of an Aggregation Group.

              Aggregate Account: A Participant's Aggregate Account as of the
       Determination Date is the sum of:

                     his Participant's Account balance as of the most recent
              valuation occurring within a twelve (12) month period ending on
              the Determination Date;

                     an adjustment for any contribution due as of the
              Determination Date. Such adjustment shall be the amount of any
              contributions actually made after the Valuation Date but due on or
              before the Determination Date, except for the first Plan Year when
              such adjustment shall also reflect the amount of any contributions
              made after the Determination Date that are allocated as of a date
              in that first Plan Year.

                     any Plan distributions made within the Plan Year that
              includes the Determination Date or within the four (4) preceding
              Plan Years. However in the case of distributions made after the
              Valuation Date and prior to the Determination Date, such
              distributions are not included as distributions for top heavy
              purposes to the extent that such distributions are already
              included in the Participant's Aggregate Account balance as of the
              Valuation Date. Notwithstanding anything herein to the contrary,
              all distributions, including distributions under a terminated plan
              which if it had not been terminated would have been required to be
              included in an Aggregation Group, will be counted. Further,
              distributions from the Plan (including the cash value of life
              insurance policies) of a Participant's account balance because of
              death shall be treated as a distribution for the purposes of this
              paragraph.

                                       52

<PAGE>

                     any Employee contributions, whether voluntary or mandatory.
              However, amounts attributable to tax deductible qualified
              voluntary employee contributions shall not be considered to be a
              part of the Participant's Aggregate Account balance.

                     with respect to unrelated rollovers and plan-to-plan
              transfers (ones which are both initiated by the Employee and made
              from a plan maintained by one employer to a plan maintained by
              another employer), if this Plan provides the rollovers or
              plan-to-plan transfers, it shall always consider such rollovers or
              plan-to-plan transfers as a distribution for the purposes of this
              Section. If this Plan is the plan accepting such rollovers or
              plan-to-plan transfers, it shall not consider such rollovers or
              plan-to-plan transfers as part of the Participant's Aggregate
              Account balance.

                     with respect to related rollovers and plan-to-plan
              transfers (ones either not initiated by the Employee or made to a
              plan maintained by the same employer), if this Plan provides the
              rollover or plan-to-plan transfer, it shall not be counted as a
              distribution for purposes of this Section. If this Plan is the
              plan accepting such rollover or plan-to-plan transfer, it shall
              consider such rollover or plan-to-plan transfer as part of the
              Participant's Aggregate Account balance, irrespective of the date
              on which such rollover or plan-to-plan transfer is accepted.

                     For the purposes of determining whether two employers are
              to be treated as the same employer in (5) and (6) above, all
              employers aggregated under Code Section 414(b), (c), (m) and (o)
              are treated as the same employer.

              "Aggregation Group" means either a Required Aggregation Group or a
       Permissive Aggregation Group as hereinafter determined.

                     Required Aggregation Group: In determining a Required
              Aggregation Group hereunder, each plan of the Employer in which a
              Key Employee is a participant in the Plan Year containing the
              Determination Date or any of the four preceding Plan Years, and
              each other plan of the Employer which enables any plan in which a
              Key Employee participates to meet the requirements of Code
              Sections 401(a) (4) or 410, will be required to be aggregated.
              Such group shall be known as a Required Aggregation Group.

              In the case of a Required Aggregation Group, each plan in the
              group will be considered a Top Heavy Plan if the Required
              Aggregation Group is a Top Heavy Group. No plan in the Required
              Aggregation Group will be considered a Top Heavy Plan if the
              Required Aggregation Group is not a Top Heavy Group.

                     Permissive Aggregation Group: The Employer may also include
              any other plan not required to be included in the Required
              Aggregation Group, provided the resulting group, taken as a whole,
              would continue to satisfy the provisions of Code Sections 401(a)
              (4) and 410. Such group shall be known as a Permissive Aggregation
              Group.

                                       53

<PAGE>

              In the case of a Permissive Aggregation Group, only a plan that is
              part of the Required Aggregation Group will be considered a Top
              Heavy Plan if the Permissive Aggregation Group is a Top Heavy
              Group. No plan in the Permissive Aggregation Group will be
              considered a Top Heavy Plan if the Permissive Aggregation Group is
              not a Top Heavy Group.

                     Only those plans of the Employer in which the Determination
              Dates fall within the same calendar year shall be aggregated in
              order to determine whether such plans are Top Heavy Plans.

                     An Aggregation Group shall include any terminated plan of
              the Employer if it was maintained within the last five (5) years
              ending on the Determination Date.

              "Determination Date" means (a) the last day of the preceding Plan
       Year, or (b) in the case of the first Plan Year, the last day of such
       Plan Year.

              Present Value of Accrued Benefit: In the case of a defined benefit
       plan, the Present Value of Accrued Benefit for a Participant other than a
       Key Employee, shall be as determined using the single accrual method used
       for all plans of the Employer and Affiliated Employers, or if no such
       single method exists, using a method which results in benefits accruing
       not more rapidly than the slowest accrual rate permitted under Code
       Section 411(b)(1)(C). The determination of the Present Value of Accrued
       Benefit shall 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 Code Section 416 and the Regulations
       thereunder for the first and second plan years of a defined benefit plan.

              "Top Heavy Group" means an Aggregation Group in which, as of the
       Determination Date, the sum of:

                     the Present Value of Accrued Benefits of Key Employees
              under all defined benefit plans included in the group, and

                     the Aggregate Accounts of Key Employees under all defined
              contribution plans included in the group, exceeds sixty percent
              (60%) of a similar sum determined for all Participants.

                                  MISCELLANEOUS

       PARTICIPANT'S RIGHTS

              This Plan shall not be deemed to constitute a contract between the
Employer and any Participant or to be a consideration or an inducement for the
employment of any Participant or Employee. Nothing contained in this Plan shall
be deemed to give any Participant or Employee the right to be retained in the
service of the Employer or to interfere with the right of

                                       54

<PAGE>

the Employer to discharge any Participant or Employee at any time regardless of
the effect which such discharge shall have upon him as a Participant of this
Plan.

       ALIENATION

              Subject to the exceptions provided below, no benefit which shall
       be payable out of the Trust Fund to any person (including a Participant
       or his Beneficiary) shall be subject in any manner to anticipation,
       alienation, sale, transfer, assignment, pledge, encumbrance, or charge,
       and any attempt to anticipate, alienate, sell, transfer, assign, pledge,
       encumbrance or charge the same shall be void; and no such benefit shall
       in any manner be liable for, or subject to, the debts, contracts,
       liabilities, engagements, or torts of any such person, nor shall it be
       subject to attachment or legal process for or against such person, and
       the same shall not be recognized by the Trustee, except to such extent as
       may be required by law.

              This provision shall not apply to a "qualified domestic relations
       order" defined in Code Section 414(p), and those other domestic relations
       orders permitted to be so treated by the Administrator under the
       provisions of the Retirement Equity Act of 1984. The Administrator shall
       establish a written procedure to determine the qualified status of
       domestic relations orders and to administer distributions under such
       qualified orders. Further, to the extent provided under a "qualified
       domestic relations order," a former spouse of a Participant shall be
       treated as the spouse or surviving spouse for all purposes under the
       Plan.

       CONSTRUCTION OF PLAN

              This Plan and Trust shall be construed and enforced according to
the Act and the laws of the State of New York, other than its laws respecting
choice of law, to the extent not preempted by the Act.

       GENDER AND NUMBER

              Wherever any words are used herein in the masculine, feminine or
neuter gender, they shall be construed as though they were also used in another
gender in all cases where they would so apply, and whenever any words are used
herein in the singular or plural form, they shall be construed as though they
were also used in the other form in all cases where they would so apply.

       LEGAL ACTION

              In the event any claim, suit, or proceeding is brought regarding
the Trust and/or Plan established hereunder to which the Trustee, the Employer
or the Administrator may be a party, and such claim, suit, or proceeding is
resolved in favor of the Trustee, the Employer or the Administrator, they shall
be entitled to be reimbursed from the Trust Fund for any and all costs,
attorney's fees, and other expenses pertaining thereto incurred by them for
which they shall have become liable.

                                       55

<PAGE>

     PROHIHITION AGAINST DIVERSION OF FUNDS

           Except as provided below and otherwise specifically permitted by law,
     it shall be impossible by operation of the Plan or of the Trust, by
     termination of either, by power of revocation or amendment, by the
     happening of any contingency, by collateral arrangement or by any other
     means, for any part of the corpus or income of any trust fund maintained
     pursuant to the Plan or any funds contributed thereto to be used for, or
     diverted to, purposes other than the exclusive benefit of Participants,
     Retired Participants, or their Beneficiaries.

           In the event the Employer shall make an excessive contribution under
     a mistake of fact pursuant to Act Section 403 (c) (2) (A), the Employer may
     demand repayment of such excessive contribution at any time within one (l)
     year following the time of payment and the Trustees shall return such
     amount to the Employer within the one (1) year period. Earnings of the Plan
     attributable to the excess contributions may not be returned to the
     Employer but any losses attributable thereto must reduce the amount so
     returned.

     BONDING

          Every Fiduciary, except a bank or an insurance company, unless
exempted by the Act and regulations thereunder, shall be bonded in an amount not
less than 10% of the amount of the funds such Fiduciary handles; provided,
however, that the minimum bond shall be $1,000 and the maximum bond, $500,000.
The amount of funds handled shall be determined at the beginning of each Plan
Year by the amount of funds handled by such person, group, or class to be
covered and their predecessors, if any, during the preceding Plan Year, or if
there is no preceding Plan Year, then by the amount of the funds to be handled
during the then current year. The bond, shall provide protection to the Plan
against any loss by reason of acts of fraud or dishonesty by the Fiduciary alone
or in connivance with others. The surety shall be a corporate surety company (as
such term is used in Act Section 412(a) (2)), and the bond shall be in a form
approved by the Secretary of Labor. Notwithstanding anything in the Plan to the
contrary, the cost of such bonds shall be an expense of and may, at the election
of the Administrator, be paid from the Trust Fund or by the Employer.

     EMPLOYER'S AND TRUSTEE'S PROTECTIVE CLAUSE

           Neither the Employer, the Administrator nor the Trustee, nor their
successors shall be responsible for the validity of any Contract issued
hereunder or for the failure on the part of the insurer to make payments
provided by any such Contract, or for the action of any person which may delay
pay or render a Contract null and void or unenforceable in whole or in part.

     INSURER'S PROTECTIVE CLAUSE

           Any insurer who shall issue Contracts hereunder shall not have any
responsibility for the validity of this Plan or for the tax or legal aspects of
this Plan. The insurer shall be protected and held harmless in acting in
accordance with any written direction of the Trustee, and shall have no duty to
see to the application of any funds paid to the Trustee, nor be required to
question any actions directed by the Trustee. Regardless of any provision of
this Plan, the

                                       56

<PAGE>

insurer shall not be required to take or permit any action or allow any benefit
or privilege contrary to the terms of any Contract which it issues hereunder, or
the rules of the insurer.

     RECEIPT AND RELEASE FOR PAYMENTS

          Any payment to any Participant, his legal representative, Beneficiary,
or to any guardian or committee appointed for such Participant or Beneficiary in
accordance with the provisions of the Plan, shall, to the extent thereof, be in
full satisfaction of all claims hereunder against the Trustee and the Employer
either of whom may require such Participant, legal representative, Beneficiary,
guardian or committee, as a condition precedent to such payment, to execute a
receipt and release thereof in such form as shall be determined by the Trustee
or Employer.

     ACTION BY THE EMPLOYER

          Whenever the Employer under the terms of the Plan is permitted or
required to do or perform any act or matter or thing, it shall be done and
performed by a person duly authorized by its legally constituted authority.

     NAMED FIDUCIARIES AND ALLOCATION OF RESPONSIBILITY

          The "named Fiduciaries" of this Plan are (1) the Employer, (2) the
Administrator and (3) the Trustee. The named Fiduciaries shall have only those
specific powers, duties, responsibilities, and obligations as are specifically
given them under the Plan or as accepted by or assigned to them pursuant to any
procedure provided under the Plan, including but not limited to any agreement
allocating or delegating their responsibilities, the terms of which are
incorporated herein by reference. In general, unless otherwise indicated herein
or pursuant to such agreements, the Employer shall have the duties specified in
Article II hereof, as the same may be allocated or delegated thereunder,
including but not limited to the responsibility for making the contributions
provided for under Section 4.1; and shall have the authority to appoint and
remove the Trustee and the Administrator; to formulate the Plan's "funding
policy and method"; and to amend or terminate, in whole or in part, the Plan.
The Administrator shall have the responsibility for the administration of the
Plan, including but not limited to the items specified at Article II of the
Plan, as the same may be allocated or delegated thereunder. The Trustee shall
have the responsibility of management and control of the assets held under the
Trust, except to the extent directed pursuant to Article II or with respect to
those assets, the management of which has been assigned to an Investment
Manager, who shall be solely responsible for the management of the assets
assigned to it, all as specifically provided in the Plan and any agreement with
the Trustee. Each named Fiduciary warrants that any directions given,
information furnished, or action taken by it shall be in accordance with the
provisions of the Plan, authorizing or providing for such direction, information
or action. Furthermore, each named Fiduciary may rely upon any such direction,
information or action of another named Fiduciary as being proper under the Plan,
and is not required under the Plan to inquire into the propriety of any such
direction, information or action. It is intended under the Plan that each named
Fiduciary shall be responsible for the proper exercise of its own powers,
duties, responsibilities and obligations under the Plan as specified or
allocated herein. No named Fiduciary shall guarantee the Trust Fund in any
manner against investment loss or depreciation

                                       57

<PAGE>

in asset value. Any person or group may serve in more than one Fiduciary
capacity. In the furtherance of their responsibilities hereunder, the "named
Fiduciaries" shall be empowered to interpret the Plan and Trust and to resolve
ambiguities, inconsistencies and omissions, which findings shall be binding,
final and conclusive.

     HEADINGS

           The headings and subheadings of this Plan have been inserted for
convenience of reference and are to be ignored in any construction of the
provisions hereof.

     APPROVAL BY INTERNAL REVENUE SERVICE

           Notwithstanding anything herein to the contrary, contributions to
     this Plan are conditioned upon the initial qualification of the Plan under
     Code Section 401. If the Plan receives an adverse determination with
     respect to its initial qualification, then the Plan may return such
     contributions to the Employer within one year after such determination,
     provided the application for the determination is made by the time
     prescribed by law for filing the Employer's return for the taxable year in
     which the Plan was adopted, or such later date as the Secretary of the
     Treasury may prescribe.

           Notwithstanding any provisions to the contrary, except Sections 3.5,
     3.6, and 4.1(b), any contribution by the Employer to the Trust Fund is
     conditioned upon the deductibility of the contribution by the Employer
     under the Code and, to the extent any such deduction is disallowed, the
     Employer may, within one (1) year following the disallowance of the
     deduction, demand repayment of such disallowed contribution and the Trustee
     shall return such contribution within one (1) year following the
     disallowance. Earnings of the Plan attributable to the excess contribution
     may not be returned to the Employer, but any losses attributable thereto
     must reduce the amount so returned.

     UNIFORMITY

           All provisions of this Plan shall be interpreted and applied in a
uniform, nondiscriminatory manner. In the event of any conflict between the
terms of this Plan and any Contract purchased hereunder, the Plan provisions
shall control.

     SECURITIES AND EXCHANGE COMMISSION APPROVAL

           The Employer may request an interpretative letter from the Securities
and Exchange Commission stating that the transfers of Company Stock contemplated
hereunder do not involve transactions requiring a registration of such Company
Stock under the Securities Act of 1933. In the event that a favorable
interpretative letter is not obtained, the Employer reserves the right to amend
the Plan and Trust retroactively to their Effective Dates in order to obtain a
favorable interpretative letter or to terminate the Plan.

                                       58

<PAGE>

                             PARTICIPATING EMPLOYERS

     ADOPTION BY OTHER EMPLOYERS

          Notwithstanding anything herein to the contrary, with the consent of
the Employer and Trustee, any other corporation or entity, whether an affiliate
or subsidiary or not, may adopt this Plan and all of the provisions hereof, and
participate herein and be known as a Participating Employer, by a properly
executed document evidencing said intent and will of such Participating
Employer.

     REQUIREMENTS OF PARTICIPATING EMPLOYERS

          Each such Participating Employer shall be required to use the same
     Trustee as provided in this Plan.

          The Trustee may, but shall not be required to, commingle, hold and
     invest as one Trust Fund all contributions made by Participating Employers,
     as well as all increments thereof. However, the assets of the Plan shall,
     on an ongoing basis, be available to pay benefits to all Participants and
     Beneficiaries under the Plan without regard to the Employer or
     Participating Employer who contributed such assets.

          The transfer of any Participant from or to an Employer participating
     in this Plan, whether he be an Employee of the Employer or a Participating
     Employer, shall not affect such Participant's rights under the Plan, and
     all amounts credited to such Participant's Account as well as his
     accumulated service time with the transferor or predecessor, and his length
     of participation in the Plan, shall continue to his credit.

          All rights and values forfeited by termination of employment shall
     inure only to the benefit of the Participants of the Employer or
     Participating Employer by which the forfeiting Participant was employed,
     except if the Forfeiture is for an Employee whose Employer is an Affiliated
     Employer, then said Forfeiture shall be allocated to the Participants
     employed by the Employer or Participating Employers who are Affiliated
     Employers. Should an Employee of one ("First") Employer be transferred to
     an associated ("Second") Employer which is an Affiliated Employer, such
     transfer shall not cause his account balance (generated while an Employee
     of "First" Employer) in any manner, or by any amount to be forfeited. Such
     Employee's Participant Account balance for all purposes of the Plan,
     including length of service, shall be considered as though he had always
     been employed by the "Second" Employer and as such had received
     contributions, forfeitures, earnings or losses, and appreciation or
     depreciation in value of assets totaling the amount so transferred.

          Any expenses of the Trust which are to be paid by the Employer or
     borne by the Trust Fund shall be paid by each Participating Employer in the
     same proportion that the total amount standing to the credit of all
     Participants employed by such Employer bears to the total standing to the
     credit of all Participants.

                                       59

<PAGE>

     DESIGNATION OF AGENT

           Each Participating Employer shall be deemed to be a party to this
Plan; provided, however, that with respect to all of its relations with the
Trustee and Administrator for the purpose of this Plan, each Participating
Employer shall be deemed to have designated irrevocably the Employer as its
agent. Unless the context of the Plan clearly indicates the contrary, the word
"Employer" shall be deemed to include each Participating Employer as related to
its adoption of the Plan.

     EMPLOYEE TRANSFERS

           It is anticipated that an Employee may be transferred between
Participating Employers, and in the event of any such transfer, the Employee
involved shall carry with him his accumulated service and eligibility. No such
transfer shall effect a termination of employment hereunder, and the
Participating Employer to which the Employee is transferred shall thereupon
become obligated hereunder with respect to such Employee in the same manner as
was the Participating Employer from whom the Employee was transferred.

     PARTICIPATING EMPLOYER CONTRIBUTION

           Any contribution subject to allocation during each Plan Year shall be
allocated only among those Participants of the Employer or Participating
Employer making the contribution, except if the contribution is made by an
Affiliated Employer, in which event such contribution shall be allocated among
all Participants of all Participating Employers who are Affiliated Employers in
accordance with the provisions of this Plan. On the basis of the information
furnished by the Administrator, the Trustee shall keep separate books and
records concerning the affairs of each Participating Employer hereunder and as
to the accounts and credits of the Employees of each Participating Employer. The
Trustee may, but need not, register Contracts so as to evidence that a
particular Participating Employer is the interested Employer hereunder, but in
the event of an Employee transfer from one Participating Employer to another,
the employing Employer shall immediately notify the Trustee thereof.

     AMENDMENT

           Amendment of this Plan by the Employer at any time when there shall
be a Participating Employer hereunder shall only be by the written action of
each and every Participating Employer and with the consent of the Trustee where
such consent is necessary in accordance with the terms of this Plan.

     DISCONTINUANCE OF PARTICIPATION

           Any Participating Employer shall be permitted to discontinue or
revoke its participation in the Plan. At the time of any such discontinuance or
revocation, satisfactory evidence thereof and of any applicable conditions
imposed shall be delivered to the Trustee. The Trustee shall thereafter
transfer, deliver and assign Contracts and other Trust Fund assets allocable to
the Participants of such participating Employer to such new Trustee as shall
have been designated by such Participating Employer, in the event that it has
established a separate pension plan for its Employees, provided, however, that
no such transfer shall be made if the

                                       60

<PAGE>

result is the elimination or reduction of any "Section 411(d) (6) protected
benefits" in accordance with Section 9.1(c). If no successor is designated, the
Trustee shall retain such assets for the Employees of said Participating
Employer pursuant to the provisions of Article VII hereof. In no such event
shall any part of the corpus or income of the Trust as it relates to such
Participating Employer be used for or diverted to purposes other than for the
exclusive benefit of the Employees of such Participating Employer.

       ADMINISTRATOR'S AUTHORITY

              The Administrator shall have authority to make any and all
necessary rules or regulations, binding upon all Participating Employers and all
Participants, to effectuate the purpose of this Article.

                                       61

<PAGE>

                                17/th/ June 1999

          IN WITNESS WHEREOF, this Plan has been executed the day and year first
above written.

Signed, sealed and delivered
in the presence of:

                                     OSWEGO COUNTY BANCORP, INC.

/s/ Lisa King                        By: /s/ Gregory J. Kreis
----------------------------             ---------------------------------------
                                         Gregory J. Kreis, President and Chief
                                          Executive Officer

                                     TRUSTEES

/s/ Lisa King                        By: /s/ Gregory J. Kreis
----------------------------             ---------------------------------------
                                         Gregory J. Kreis, Trustee

/s/ Lisa King                        By: /s/ Robert H. Hillick, Trustee
----------------------------             ---------------------------------------
                                         Robert H. Hillick, Trustee

<PAGE>

                            OSWEGO COUNTY BANCOR INC.
                       EMPLOYEE STOCK OWNERSRIP PLAN TRUST

                            FUNDING POLICY AND METHOD

         A pension benefit plan (as defined in the Employee Retirement Income
Security Act of 1974) has been adopted by the company for the purpose of
rewarding long and loyal service to the company by providing to employees
additional financial security at retirement. Incidental benefits are provided in
the case of disability, death or other termination of employment.

         Since the principal purpose of the plan is to provide benefits at
normal retirement age, the principal goal of the investment of the funds in the
plan should be both security and long-term stability with moderate growth
commensurate with the anticipated retirement dates of participants. The Plan is
designed to invest primarily in company stock. Investments, other than company
stock, may be included among the plan's investments. Investments should be
sufficiently liquid to enable the plan, on short notice, to make some
distributions in cash in the event of the death or disability of a participant.

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