Document:

<PAGE>
                                                                      AS ADOPTED
                                                                FEBRUARY 8, 2002

                                                            EXHIBIT 10.3(A)

                 NUVEEN 2002 EXECUTIVE OFFICER PERFORMANCE PLAN

                  1.       Purpose.  The purpose of the Nuveen Executive Officer
Performance Plan (the "Plan") is to promote the growth and financial success of
The John Nuveen Company (the "Company") and its Subsidiaries, by attracting,
retaining and motivating executive officers through performance-related
incentives.

                  2.       Definitions.  The following terms shall have the
meanings set forth below:

                           "After-Bonus, Pre-Tax Net Operating Income" for any
                  Plan Year shall mean the consolidated pre-tax net operating
                  income of the Company for such year. After-Bonus, Pre-Tax Net
                  Operating Income shall (a) exclude, unless the Compensation
                  Committee determines otherwise with respect to any Plan Year,
                  amortization of the cost of intangible assets (for any Plan
                  Year or with respect to any particular transaction the
                  Compensation Committee may determine to include all or a
                  portion of such cost); and (b) include, unless the
                  Compensation Committee determines otherwise with respect to
                  any Plan Year, extraordinary items of income (as that term is
                  used under generally accepted accounting practices) and other
                  unusual or non-recurring items of income which are identified
                  as such and quantified in the footnotes to the financial
                  statements or MD&A section of the Annual Report. If the
                  accounting rules or principles to which the Company is subject
                  are changed, or if the Company elects to change its method of
                  accounting so as to materially change, in the judgment of the
                  Committee, the manner in which After-Bonus, Pre-Tax Net
                  Operating Income is determined, the Committee may make such
                  adjustments as it deems

<PAGE>
                                                                      AS ADOPTED
                                                                FEBRUARY 8, 2002

                  advisable in order to arrive at substantially the same Formula
                  Award as would have been derived if the accounting rules,
                  principles or methods had not so changed.

                           "Award" shall mean the total bonus award to be
                  distributed to a Participant with respect to a Plan Year. An
                  Award may be made in cash or in a combination of cash and
                  equity incentive awards, in such proportions as are determined
                  by, and as valued for these purposes by, the Committee,
                  subject to the availability of equity awards under a Nuveen
                  Equity Incentive Plan.

                           "Board of Directors" shall mean the Board of
                  Directors of the Company.

                           "Cause" shall have the meaning set forth in any
                  employment or other written agreement between the Company and
                  the Participant; provided, that if there is no such agreement,
                  "Cause" shall mean the Participant (i) engages in illegal
                  conduct that is injurious to the Company; (ii) engages in any
                  act or acts of dishonesty or misconduct that result in damage
                  to the Company or its business or reputation or that the
                  Company reasonably determines to adversely affect the value,
                  reliability or performance of the Participant to the Company;
                  (iii) continuously fails to perform his or her duties to the
                  Company (which may include any sustained and unexcused absence
                  of the Participant from the performance of such duties, which
                  absence has not been certified in writing as due to physical
                  or mental illness or Disability), after a written demand for
                  performance has been delivered to the Participant identifying
                  the manner in which the Participant has failed to
                  substantially perform his or her duties.

                                      -2-
<PAGE>
                                                                      AS ADOPTED
                                                                FEBRUARY 8, 2002

                           "Change in Control" shall mean any of the following:
                                    (i) The acquisition by any individual,
                           entity or group (within the meaning of Section
                           13(d)(3) or 14(d)(2) of the Securities Exchange Act
                           of 1934, as amended (the "Exchange Act")) (a
                           "Person") of beneficial ownership (within the meaning
                           of Rule 13d-3 promulgated under the Exchange Act) of
                           voting securities of the Company where such
                           acquisition causes such Person to own 20% or more of
                           the combined voting power of the then outstanding
                           voting securities of the Company entitled to vote
                           generally in the election of directors (the
                           "Outstanding Company Voting Securities"); provided,
                           however, that for purposes of this subsection (i),
                           the following acquisitions shall not be deemed to
                           result in a Change in Control: (A) any acquisition
                           directly from the Company, (B) any acquisition by the
                           Company, (C) any acquisition by any employee benefit
                           plan (or related trust) sponsored or maintained by
                           the Company or any corporation controlled by the
                           Company or (D) any acquisition by any corporation
                           pursuant to a transaction that complies with clauses
                           (A), (B) and (C) of subsection (iii) below; and
                           provided, further, that if any Person's beneficial
                           ownership of the Outstanding Company Voting
                           Securities reaches or exceeds 20% as a result of a
                           transaction described in clause (A) or (B) above, and
                           such Person subsequently acquires beneficial
                           ownership of additional voting securities of the
                           Company, such subsequent acquisition shall be treated
                           as an acquisition that causes such Person to own 20%
                           or more of the Outstanding Company Voting Securities;
                           or

                                    (ii) individuals who, as of the effective
                           date hereof, constitute the Board (the "Incumbent
                           Board") cease for any reason to constitute at least a
                           majority of the Board; provided, however, that any
                           individual becoming a director subsequent to the date
                           hereof whose election, or nomination for election by
                           the Company's shareholders, was approved by a vote of
                           at least a majority of the directors then comprising
                           the Incumbent Board shall be considered as though
                           such individual were a member of the Incumbent Board,
                           but excluding, for this purpose, any such individual
                           whose initial assumption of office occurs as a result
                           of an actual or threatened election contest with
                           respect to the election or removal of directors or
                           other actual or threatened solicitation of proxies or
                           consents by or on behalf of a Person other than the
                           Board; or

                                    (iii) The approval by the shareholders of
                           the Company of (x) a reorganization, merger or
                           consolidation, or sale or other disposition of all or
                           substantially all of the assets of the Company or (y)
                           the acquisition of assets or stock of another
                           corporation in exchange for

                                      -3-
<PAGE>

                                                                      AS ADOPTED
                                                                FEBRUARY 8, 2002

                           voting securities of the Company ("Business
                           Combination") or, if consummation of such Business
                           Combination is subject, at the time of such approval
                           by shareholders, to the consent of any government or
                           governmental agency, the obtaining of such consent
                           (either explicitly or implicitly by consummation);
                           excluding, however, such a Business Combination
                           pursuant to which (A) all or substantially all of the
                           individuals and entities who were the beneficial
                           owners of the Outstanding Company Voting Securities
                           immediately prior to such Business Combination
                           beneficially own, directly or indirectly, more than
                           50% of, respectively, the then outstanding shares of
                           common stock and the combined voting power of the
                           then outstanding voting securities entitled to vote
                           generally in the election of directors, as the case
                           may be, of the corporation resulting from such
                           Business Combination (including, without limitation,
                           a corporation that as a result of such transaction
                           owns the Company or all or substantially all of the
                           Company's assets either directly or through one or
                           more subsidiaries) in substantially the same
                           proportions as their ownership, immediately prior to
                           such Business Combination of the Outstanding Company
                           Voting Securities, (B) no Person (excluding any
                           employee benefit plan (or related trust) of the
                           Company or such corporation resulting from such
                           Business Combination) beneficially owns, directly or
                           indirectly, (except to the extent that such ownership
                           existed prior to the Business Combination) an amount
                           of, respectively, the then outstanding shares of
                           common stock of the corporation resulting from such
                           Business Combination or the combined voting power of
                           the then outstanding voting securities of such
                           corporation representing the greater of (1) 20%
                           thereof or (2) a percentage thereof equal to or
                           greater than the percentage thereof held after such
                           transaction by the persons who were the owners of the
                           Company's Class B stock prior to such transaction;
                           and (C) at least a majority of the members of the
                           board of directors of the corporation resulting from
                           such Business Combination were members of the
                           Incumbent Board at the time of the execution of the
                           initial agreement, or of the action of the Board,
                           providing for such Business Combination; or

                                    (iv)  approval by the shareholders of the
                           Company of a complete liquidation or dissolution of
                           the Company.

                  Notwithstanding the foregoing, unless a majority of the
                  Incumbent Board determines otherwise, no Change in Control
                  shall be deemed to have occurred with respect to a particular
                  Participant if the Change in Control results from

                                      -4-
<PAGE>
                                                                      AS ADOPTED
                                                                FEBRUARY 8, 2002

                  actions or events in which such Participant is a participant
                  in a capacity other than solely as an officer, employee or
                  director of the Company.

                           "Committee" shall mean a Committee of the Board of
                  Directors, the members of which are selected by and serve at
                  the pleasure of the Board of Directors; provided, however,
                  that the Committee shall at all times consist of not fewer
                  than two directors. The Committee shall initially be the
                  Compensation Committee of the Board of Directors, which
                  consists of directors who are "outside directors" within the
                  meaning of Section 162(m) of the Internal Revenue Code.

                           "Deferred Bonus Plan" shall mean The John Nuveen
                  Company Deferred Bonus Plan or any successor plan(s).

                           "Disability" shall mean the inability of a
                  Participant to perform the services normally rendered to the
                  Company or the Subsidiary that employs him or her, due to a
                  physical or mental impairment that can be expected to be of
                  either permanent or indefinite duration, as determined by the
                  Committee, and which results in the Participant's inability to
                  perform his or her normal duties to the Company or such
                  Subsidiary.

                           "Formula Award" shall mean, for the Chief Executive
                  Officer, for any Plan Year, the sum of (i) 2% of Pre-Bonus,
                  Pre-Tax Net Operating Income for such Plan Year in excess of
                  the amount that represents a 20% return on average equity
                  capital for such Plan Year, plus (or minus) (ii) 8.5% of the
                  increase (or decrease) in After-Bonus, Pre-Tax Net Operating
                  Income for such Plan Year

                                      -5-
<PAGE>

                                                                      AS ADOPTED
                                                                FEBRUARY 8, 2002

                  over the same measure for the prior Plan Year. The Formula
                  Award for the next most senior Officer-Director after the
                  Chief Executive Officer for each Plan Year shall be 85% of
                  Chief Executive Officer's Formula Award. The Formula Award for
                  each Plan Participant other than any Officer-Director for each
                  Plan Year shall be 60% of the Chief Executive Officer's
                  Formula Award.

                           "Good Reason" shall have the meaning set forth in any
                  employment or other written agreement between the Company and
                  the Participant; provided, that if there is no such agreement
                  or if such agreement does not define "Good Reason," then the
                  concept of "Good Reason" as used in this Plan, and the rights
                  and obligations attendant thereto, shall not apply to the
                  Participant.

                           "Nuveen Equity Incentive Plans" shall mean the Nuveen
                  Amended and Restated 1996 Equity Incentive Award Plan and any
                  successor plan(s).

                           "Participant" shall have the meaning given in Section
                  4.

                           "Plan Year" shall mean the fiscal year of the
                  Company.

                           "Pre-Bonus, Pre-Tax Net Operating Income" for any
                  Plan Year shall mean the consolidated pre-tax net operating
                  income of the Company for such year, before deduction of (i)
                  Awards under the Plan, (ii) awards under the Nuveen Annual
                  Incentive Award Plan, and (iii) expenses associated with the
                  grant, vesting and payment of awards under the Nuveen Equity
                  Incentive Plans (including, without limitation, the vesting of
                  shares of Restricted Stock, the payment of dividends on
                  Restricted Stock (other than Deferred Restricted

                                      -6-
<PAGE>
                                                                      AS ADOPTED
                                                                FEBRUARY 8, 2002

                  Stock) and of Dividend Equivalents on Deferred Restricted
                  Stock, as such terms are defined in the Nuveen Equity
                  Incentive Plans). In addition to the foregoing, Pre-Bonus,
                  Pre-Tax Net Operating Income shall also (a) exclude, unless
                  the Compensation Committee determines otherwise with respect
                  to any Plan Year, amortization of the cost of intangible
                  assets (for any Plan Year or with respect to any particular
                  transaction the Compensation Committee may determine to
                  include all or a portion of such cost); and (b) include,
                  unless the Compensation Committee determines otherwise with
                  respect to any Plan Year, extraordinary items of income (as
                  that term is used under generally accepted accounting
                  practices) and other unusual or non-recurring items of income
                  which are identified as such and quantified in the footnotes
                  to the financial statements or MD&A section of the Annual
                  Report. If the accounting rules or principles to which the
                  Company is subject are changed, or if the Company elects to
                  change its method of accounting so as to materially change, in
                  the judgment of the Committee, the manner in which Pre-Bonus,
                  Pre-Tax Net Operating Income is determined, the Committee may
                  make such adjustments as it deems advisable in order to arrive
                  at substantially the same Formula Award as would have been
                  derived if the accounting rules, principles or methods had not
                  so changed.

                           "Retirement" shall mean the retirement of a
                  Participant from the employment of the Company or a Subsidiary
                  at (i) such Participant's normal retirement date upon reaching
                  age 65, or (ii) such Participant's early retirement either (A)
                  upon having reached that age, which, when added to his or her
                  years of continuous service (as such term is defined under the
                  Nuveen Employees'

                                      -7-
<PAGE>
                                                                      AS ADOPTED
                                                                FEBRUARY 8, 2002

                  Retirement Plan or any successor thereto) is equal to or
                  greater than 90, or (B) with the approval of the Committee.

                           "Section 162(m)" shall mean Section 162(m) of the
                  Internal Revenue Code of 1986, as amended, and the Treasury
                  Regulations thereunder.

                           "Subsidiary" shall mean any corporation or other
                  entity, of which 50% or more of the normal voting power for
                  the election of directors or other managers is owned, directly
                  or indirectly, by the Company.

                  3.       Administration.  The Plan shall be administered by
the Committee.  Any action of the Committee with respect to the administration
of the Plan shall be taken pursuant to the majority vote of its members at a
meeting at which a quorum is present or by unanimous written consent of its
members. Subject to the express provisions of the Plan, the Committee shall have
authority to:

                  (a) construe and interpret the Plan, define the terms used
         herein, prescribe, amend and rescind rules and regulations relating to
         the administration of the Plan and make all other determinations
         necessary or advisable for the administration of the Plan;

                  (b)      select individuals for participation in the Plan;

                  (c)      subject to the provisions of Sections 5 and 6 hereof,
         determine the size of the Awards to be made under the Plan; and

                                      -8-
<PAGE>
                                                                      AS ADOPTED
                                                                FEBRUARY 8, 2002

                  (d)      appoint and authorize officers of the Company or
         other persons to assist in the execution and administration of the
         Plan.

Notwithstanding any other provision of the Plan, the Committee shall not have
the power to increase the amount of any Formula Award above the amount
determined in accordance with Section 5 hereof, or to take any other action that
would cause Awards hereunder not to qualify as performance-based compensation
for purposes of Section 162(m).

                  4. Participation. The Committee shall designate as
Participants in the Plan for each Plan Year not less than five senior officers
of the Company and/or the Subsidiaries (including the Chief Executive Officer of
the Company), which designations shall be made not more than 90 days after the
beginning of the Plan Year.

                  5. Determination of Awards. The amount of the Formula Award
shall be computed for each Participant promptly after the end of each Plan Year
in accordance with the terms and provisions of the Plan and regulations
established by the Committee, and when so computed shall be certified as
accurate by the Committee. Each Participant shall be entitled to receive the
Formula Award for the Plan Year, provided that the Committee may, at the time an
Award is made or at any time before an Award is payable in full (or would be so
payable but for deferral thereof under the Deferred Bonus Plan) but before the
occurrence of a Change in Control, in its sole discretion and taking into
consideration such factors as it deems appropriate, reduce the amount of the
Award of any Participant other than the Company's Chief Executive Officer and
the next most senior Officer-Director Participant below such amount. The amount
by which any Award is so reduced shall not be paid to any other Participant.

                                      -9-
<PAGE>
                                                                      AS ADOPTED
                                                                FEBRUARY 8, 2002

                  6. Payment of Awards. (a) Except as provided in the next
sentence, no Award shall be payable to a Participant unless he or she is
employed by the Company or a Subsidiary on the last day of the applicable Plan
Year. Notwithstanding the foregoing, if a Participant's employment is terminated
as a result of the Participant's death, Disability or Retirement, by the Company
or a Subsidiary without Cause, or by the Participant for Good Reason, the
Committee shall have the discretion to make an Award to the Participant (or the
Participant's estate) for the Plan Year in which such termination occurs in an
amount not to exceed to the product of (i) the Award he or she would have
received (for this purpose only assumed to be the same Award for the Plan Year
as his or her Award for the prior year), had there been no such termination of
employment, times (ii) a fraction, the numerator of which is the number of days
in the Plan Year before such termination of employment and the denominator of
which is the number of days in the Plan Year. Such Award shall be payable at the
same time as other Awards are paid for the Plan Year.

                  (b) Awards determined by the Committee to be payable under the
Plan for a Plan Year shall be paid in full as soon as practicable after the
close of the applicable Plan Year; provided, that any Participant selected to
participate in the Deferred Bonus Plan may elect to defer all or any portion of
his Award for any Plan Year in accordance with the terms of the Deferred Bonus
Plan.

                  7. Change in Control. Notwithstanding any other provision of
the Plan, upon a Change in Control, the amount of the Formula Award shall be
determined and Awards shall be paid as if the date of the Change of Control were
the last day of the Plan Year during which such Change of Control occurs, with
the Formula Award being determined prior to any expenses directly related to
such change in Control and by adjusting the applicable return on

                                      -10-
<PAGE>

                                                                      AS ADOPTED
                                                                FEBRUARY 8, 2002

equity factor proportionately to reflect the length of such truncated Plan Year.
After the actual end of the Plan Year during which such Change of Control occurs
(determined without regard to the preceding sentence), the amount of the Formula
Award shall be determined based upon the entire Plan Year, and any excess of the
Awards payable based on the redetermined Formula Award over the amounts paid
pursuant to the preceding sentence shall be paid in accordance with the Plan
(but if the redetermined Formula Award is less than the Formula Award determined
pursuant to the preceding sentence, the Awards payable pursuant to the preceding
sentence shall not be reduced or subject to being returned).

                  8. Amendment; Termination. The Plan may be amended or
terminated by a majority vote of the Board of Directors at any time; provided,
that no such amendment or termination shall have the effect of increasing the
Award that would otherwise be payable to a Participant without approval of
shareholders, and provide further, that no such amendment or termination shall
adversely affect the rights of any Participant for any Plan Year that begins 60
days or more before such amendment or termination is adopted by the Board of
Directors.

                  9.       Effective Date.  The Plan shall be effective as of
the first day of the Company's 2002 fiscal year, provided that it is approved by
the shareholders of the Company at their annual meeting in 2002.

                                      -11-<PAGE>
                                                                    EXHIBIT 10.5

                  NUVEEN INVESTMENTS EMPLOYEES' RETIREMENT PLAN
               (As amended and restated effective January 1, 1997)

<PAGE>

<TABLE>
<S>                 <C>                                                                                           <C>
ARTICLE I.          THE PLAN..................................................................................     1
     Section 1.1.        Name.................................................................................     1
     Section 1.2.        Purpose..............................................................................     1

ARTICLE II.         DEFINITIONS...............................................................................     1
     Section 2.1.        "Actuarial or Actuarially Equivalent"................................................     1
     Section 2.2.        "Affiliated Company".................................................................     1
     Section 2.3.        "Anniversary Date"...................................................................     2
     Section 2.4.        "Average Monthly Compensation".......................................................     2
     Section 2.5.        "Basic Pension"......................................................................     2
     Section 2.6.        "Beneficiary"........................................................................     2
     Section 2.7.        "Board of Directors".................................................................     2
     Section 2.8.        "Code"...............................................................................     2
     Section 2.9.        "Committee" or "Retirement Plan Committee"...........................................     3
     Section 2.10.       "Company"............................................................................     3
          (a)            "Compensation".......................................................................     3
     Section 2.12.       "Disabled"...........................................................................     4
     Section 2.13.       "Effective Date".....................................................................     4
     Section 2.14.       "Employee"...........................................................................     4
     Section 2.15.       "Employer"...........................................................................     5
     Section 2.16.       "ERISA"..............................................................................     5
     Section 2.17.       "Highly-Compensated Employee"........................................................     5
     Section 2.18.       "Participant"........................................................................     6
     Section 2.19.       "Plan Year"..........................................................................     6
     Section 2.20.       "Primary Social Security Benefit"....................................................     6
     Section 2.21.       "Retired Participant"................................................................     7
     Section 2.22.       "Retirement Age".....................................................................     7
     Section 2.23.       "Retirement Benefit".................................................................     8
     Section 2.24.       "Retirement Date"....................................................................     8
     Section 2.25.       Service definitions..................................................................    10
     Section 2.26.       "Social Security Retirement Age".....................................................    17
     Section 2.27.       "Spouse".............................................................................    18
     Section 2.28.       Top-Heavy Plan Definitions...........................................................    19
     Section 2.29.       "Trust Fund".........................................................................    23
     Section 2.30.       "Trust"..............................................................................    23
     Section 2.31.       "Trustee"............................................................................    23
     Section 2.32.       Gender and Number....................................................................    23

ARTICLE III.        ELIGIBILITY AND PARTICIPATION.............................................................    23
     Section 3.1.        Date of Participation................................................................    23
     Section 3.2.        Duration.............................................................................    24

ARTICLE IV.         BENEFITS..................................................................................    25
     Section 4.1.        Normal Retirement Benefits...........................................................    25
     Section 4.2.        Early Retirement Benefits............................................................    28
</TABLE>

                                      -i-
<PAGE>

<TABLE>
<S>                 <C>                                                                                           <C>
     Section 4.3.        Postponed Retirement Benefits........................................................    30
     Section 4.4.        Disability Retirement Benefits.......................................................    31
     Section 4.5.        Deferred Vested Retirement Benefits..................................................    32
     Section 4.6.        Full Career Retirement Benefits......................................................    33
     Section 4.7.        Automatic Postretirement (Joint and Survivor) Surviving Spouse Benefits..............    34
     Section 4.8.        Maximum Annual Benefits..............................................................    38
     Section 4.9.        Optional Forms of Settlement.........................................................    42
     Section 4.10.       Rules Regarding Options..............................................................    45
     Section 4.11.       Vested Benefits......................................................................    45
     Section 4.12.       Suspension of Benefit Rules..........................................................    48
     Section 4.13.       Designation of Beneficiary...........................................................    48
     Section 4.14.       Direct Rollovers.....................................................................    49

ARTICLE V.          DEATH BENEFITS............................................................................    51
     Section 5.1.        Death Benefit........................................................................    51

ARTICLE VI.         NONALIENATION OF BENEFITS.................................................................    54
     Section 6.1.        Nonalienation........................................................................    54

ARTICLE VII.        ADMINISTRATION............................................................................    55
     Section 7.1.        Plan Administrator and Fiduciary.....................................................    55
     Section 7.2.        Compensation and Expenses............................................................    55
     Section 7.3.        Manner of Action.....................................................................    55
     Section 7.4.        Chairman, Secretary and Employment of Specialists....................................    56
     Section 7.5.        Records..............................................................................    56
     Section 7.6.        Rules................................................................................    56
     Section 7.7.        Administration.......................................................................    56
     Section 7.8.        Claims Review; Appeals...............................................................    58
     Section 7.9.        Notice of Address....................................................................    63
     Section 7.10.       Data.................................................................................    63
     Section 7.11.       Individual Liability.................................................................    64
     Section 7.12.       Facility of Payment..................................................................    64
     Section 7.13.       No Enlargement of Employee Rights....................................................    64

ARTICLE VIII.       FINANCING.................................................................................    64
     Section 8.1.        Funding..............................................................................    64
     Section 8.2.        Company Contributions................................................................    65
     Section 8.3.        Nonreversion.........................................................................    65

ARTICLE IX.         AMENDMENT AND TERMINATION.................................................................    66
     Section 9.1.        Amendment and Termination............................................................    66
     Section 9.2.        Distribution on Termination..........................................................    67
     Section 9.3.        Effect of Bankruptcy or Other Contingencies Affecting the Company....................    71
</TABLE>

                                      -ii-
<PAGE>

<TABLE>
<S>                 <C>                                                                                           <C>
     Section 9.4.        Merger or Consolidation of Plan......................................................    71
     Section 9.5.        Employees of Acquired Businesses.....................................................    72

ARTICLE X.          TEMPORARY RESTRICTIONS ON BENEFITS........................................................    73
     Section 10.1.       Temporary Restrictions on Benefits for Participants..................................    73

ARTICLE XI.         APPLICABLE LAW............................................................................    73
     Section 11.1.       Applicable Law.......................................................................    73

ARTICLE XII.        ADOPTION AND WITHDRAWAL OF AFFILIATED COMPANY.............................................    74
     Section 12.1.       Adoption.............................................................................    74
     Section 12.2.       Withdrawal...........................................................................    74

ARTICLE XIII.       TOP-HEAVY PLAN PROVISIONS.................................................................    75
     Section 13.1.       Top-Heavy Provisions.................................................................    75

APPENDIX A          ..........................................................................................    80
</TABLE>

                                      -iii-
<PAGE>

                  NUVEEN INVESTMENTS EMPLOYEES' RETIREMENT PLAN
               (As amended and restated effective January 1, 1997)

      In accordance with the terms and provisions hereinafter set forth, the
Nuveen Investments Employees' Retirement Plan, is hereby amended and restated
effective January l, 1997, except as other effective dates for specific
provisions are provided herein.

                              ARTICLE I. The Plan

Section 1.1.      Name. Effective January 1, 2001, the name of the Plan set
                  forth in this instrument is Nuveen Investments Employees'
                  Retirement Plan. Before January 1, 2001, the name of the Plan
                  was John Nuveen & Co. Incorporated Employees' Retirement Plan.

Section 1.2.      Purpose. The purpose of this amended and restated Plan is to
                  provide retirement benefits for eligible employees of Nuveen
                  Investments and those Affiliated Companies whose employees are
                  designated as eligible to become Participants.

                             ARTICLE II. Definitions

                  The following words and phrases shall have the meanings stated
below unless a different meaning is specified or clearly required by the
context:

Section 2.1.      "Actuarial or Actuarially Equivalent" of a value or benefit
                  means equality in value of the aggregate amounts expected to
                  be received under all different available forms of payment,
                  based on the applicable actuarial assumptions set forth in
                  Appendix A hereto.

Section 2.2.      "Affiliated Company" means any entity which, along with the
                  Company, is a member of a controlled group of corporations, a
                  group of trades or businesses under common control or an
                  affiliated service group, as described, respectively, in

<PAGE>

                  Sections 414(b), (c) and (m) of the Code or any other entity
                  which is required to be aggregated with the Company under
                  Section 414(o) of the Code.

Section 2.3.      "Anniversary Date" means January l of each year.

Section 2.4.      "Average Monthly Compensation" means the greater of:

                  (a)   one-twelfth of a Participant's average annualized
                        Compensation during the five (5) consecutive calendar
                        years of highest annual Compensation in the ten (10)
                        consecutive calendar years prior to the earliest of (i)
                        his Normal Retirement Date, (ii) his actual Retirement
                        Date or (iii) the date on which his Continuous Service
                        is terminated because of a Break In Service; or

                  (b)   the average monthly Compensation during the sixty (60)
                        calendar months ending immediately prior to the earliest
                        of (i), (ii) or (iii) in (a) above.

                  To the extent permitted by law, Compensation shall be imputed
                  for any Participant who is on leave on account of serving in
                  the Armed Forces of the United States, at the rate of the
                  Participant's Compensation prior to commencement of such
                  leave.

Section 2.5.      "Basic Pension" means the monthly benefit payable under the
                  provisions of Section 4.l hereof.

Section 2.6.      "Beneficiary" means a person, trust or estate determined under
                  the rules of Section 4.13 who has a right to receive payments
                  under this Plan because of the death of a Participant.

Section 2.7.      "Board of Directors" means the Board of Directors of the
                  Company.

Section 2.8.      "Code" means the Internal Revenue Code of 1986, as amended.

                                      -2-
<PAGE>

Section 2.9.      "Committee" or "Retirement Plan Committee" means the committee
                  described in Article VII hereof and charged with the general
                  administration of the Plan.

Section 2.10.     "Company" means Nuveen Investments, its predecessors and its
                  successors.

Section 2.11.

                  (a)   "Compensation" means the total remuneration, exclusive
                        of bonuses and commissions (whether paid annually or
                        quarterly) and of overtime, payable to an Employee for
                        personal services rendered to an Employer during his
                        employment which is subject to withholding for federal
                        income tax purposes. Compensation shall also include any
                        amount that is contributed by the Employer under a
                        salary reduction agreement and that is not includible in
                        the gross income of the Participant under a "cafeteria
                        plan" maintained under Section 125 of the Code.
                        Effective January 1, 2002, Compensation shall also
                        include any elective reductions in remuneration for
                        qualified transportation benefits within the meaning of
                        Section 132(f) of the Code. The fact that another
                        Affiliated Company provides payroll services for an
                        Employer through a "common paymaster" or similar
                        relationship shall not cause any amounts described in
                        this paragraph to fail to be treated as Compensation, if
                        they would otherwise be Compensation.

                  (b)   Not more than $160,000 of Compensation will be taken
                        into account for any Participant in any Plan Year ending
                        before January 1, 2002, with this limit to be adjusted
                        for each Plan Year under Section 401(a)(17) of the Code.
                        Effective January 1, 2002, not more than $200,000 of

                                      -3-
<PAGE>

                        Compensation will be taken into account for any
                        Participant in any Plan Year, with this limit to be
                        adjusted for each Plan Year under Section 401(a)(17) of
                        the Code. Also effective January 1, 2002, for purposes
                        of determining benefit accruals in a Plan Year beginning
                        after December 31, 2001, Compensation for any prior Plan
                        Year up to $200,000, may be taken into account.

                  (c)   For purposes of Section 2.28 and Article XIII of this
                        Plan, and in accordance with Code Section 416(i)(1)(D),
                        Compensation of a Key Employee means compensation
                        determined under Code Section 415(c)(3).

Section 2.12.     "Disabled" means an inability to engage in any substantial
                  gainful activity by reason of a medically determinable
                  physical or mental impairment which has existed for six (6)
                  continuous months and which can be expected to result in death
                  or to be of long-continued and indefinite duration. Every
                  question with respect to the existence, commencement or
                  cessation of a total and permanent disability shall be
                  determined by the Committee after consulting with a physician
                  of its choosing, and its decision shall be conclusive and
                  binding on all persons. The condition of being Disabled may be
                  referred to herein as "Disability."

Section 2.13.     "Effective Date" of this amendment and restatement means
                  January 1, 1997. The original effective date of the Plan was
                  October l, 1969.

Section 2.14.     "Employee" means a person employed by an Employer or an
                  Affiliated Company who receives Compensation, whether on a
                  salaried or hourly basis, for personal services rendered to an
                  Employer. The fact that another Affiliated Company provides
                  payroll services for an Employer through a "common paymaster"
                  or

                                      -4-
<PAGE>

                  similar relationship shall not cause a person to fail to be
                  treated as an Employee of the Employer for which he performs
                  services. However, the term "Employee" does not include, with
                  respect to any Employer or Affiliated Company, (i) any "leased
                  employee," as defined under Section 414(n) of the Code; (ii)
                  any person who is classified by his Employer as an "intern" or
                  who is classified by his Employer as an "off-shift hourly"
                  employee. The Committee, pursuant to its authority under
                  Section 7.7., shall make all determinations of whether a
                  person is an Employee. A person who is classified as an
                  independent contractor by the Employer for which he or she
                  performs services shall not be treated as an Employee for
                  purposes of the Plan, even if such person is subsequently
                  treated as an employee of an Employer for other purposes.

Section 2.15.     "Employer" means, as the context requires, either jointly or
                  severally, the Company and each of its Affiliated Companies
                  whose employees have been designated by the Company's Board of
                  Directors, or in a Supplement or Appendix pursuant to Section
                  9.5, as eligible to participate in this Plan.

Section 2.16.     "ERISA" means the Employee Retirement Income Security Act of
                  1974, as amended, and the regulations promulgated thereunder.

Section 2.17.     "Highly-Compensated Employee" means any Employee who:

                  (a)   was a five-percent (5%) owner, as defined in Code
                        Section 414(q)(2), during the current or prior Plan
                        Year; or

                                      -5-
<PAGE>

                  (b)   for the preceding Plan Year:

                        (i)   had compensation (as defined in Code Section
                              415(c)(3)) from the Employer of more than $80,000
                              (as adjusted under Code Section 414(q)); and

                        (ii)  was in the top-paid group of Employees for the
                              preceding Plan Year.

                  An Employee is in the top-paid group of Employees for any year
                  if such Employee is in the group consisting of the top 20% of
                  Employees (ranked by compensation (as defined in Code Section
                  415(c)(3)).

Section 2.18.     "Participant" means an Employee meeting the eligibility
                  requirements of Article III hereof.

Section 2.19.     "Plan Year" means a calendar year during all or part of which
                  the Plan is in effect.

Section 2.20.     "Primary Social Security Benefit" means the monthly benefit
                  which a Participant is or would be entitled to receive at a
                  specified age as a primary insurance amount under the Federal
                  Social Security Act, as amended, whether or not he applies for
                  such benefit, and even though he may lose part or all of such
                  benefit through delay in applying for it, by making
                  application for a reduced benefit prior to his Social Security
                  Retirement Age, by re-entering covered employment, or for any
                  other reason. The amount of such Primary Social Security
                  Benefit to which the Participant is or would be entitled shall
                  be determined for the purposes of the Plan on the following
                  basis:

                                      -6-
<PAGE>

                  (a)   For a Participant entitled to a Normal Retirement
                        Benefit, on the basis of the Federal Social Security Act
                        as in effect at his Normal Retirement Age; or

                  (b)   For a Participant entitled to an Early Retirement
                        Benefit, or a Deferred Vested Retirement Benefit, or a
                        Disability Retirement Benefit, or a Full Career
                        Retirement Benefit, on the basis of the Federal Social
                        Security Act as in effect at the time of his termination
                        of employment with an Employer and all Affiliated
                        Companies and assuming that he will have no further
                        employment and no further earnings after the date of
                        such termination of employment.

Section 2.21.     "Retired Participant" means a person whose Continuous Service
                  has terminated by reason of retirement and who is receiving or
                  is entitled to receive benefits under this Plan.

Section 2.22.     "Retirement Age" means whichever of the following is
                  applicable to a Participant:

                  (a)   "Normal Retirement Age" means age 65.

                  (b)   "Early Retirement Age" means age 55 or later (but before
                        age 65), provided the Participant has completed 15 years
                        of Continuous Service.

                  (c)   "Disability Retirement Age" means a Participant's age as
                        of which he is determined to have become Disabled, but
                        not later than his Normal Retirement Age.

                  (d)   "Vested Retirement Age" means a Participant's age when
                        he has retired after completing five years or more of
                        Continuous Service.

                                      -7-
<PAGE>

                  (e)   "Deferred Vested Retirement Age" means a Participant's
                        age on his Deferred Vested Retirement Date.

                  (f)   "Full Career Retirement Age" means a Participant's age
                        when his age plus his years of Continuous Service equals
                        90.

Section 2.23.     "Retirement Benefit" means any retirement benefit provided for
                  in Article IV.

Section 2.24.     "Retirement Date" means whichever of the following is
                  applicable to a Participant:

                  (a)   "Normal Retirement Date" means the first day of the
                        calendar month coincident with or next following the
                        date a Participant attains his Normal Retirement Age.

                  (b)   "Postponed Retirement Date" means the first day of the
                        calendar month coincident with or next following the
                        date a Participant, whose Continuous Service has
                        continued after his Normal Retirement Age, actually
                        retires and his Continuous Service terminates.
                        Notwithstanding the previous sentence, the Postponed
                        Retirement Date of a Participant who is (i) a 5% Owner,
                        or (ii) a Participant who is not a 5% Owner but who will
                        attain age 70 1/2 before January 1, 1999, must be no
                        later than the April 1 of the calendar year following
                        the calendar year in which the Participant attains age
                        70 1/2, even if he is still employed; provided, however
                        that the Committee may, on a uniform basis, permit
                        Participants (other than 5% Owners) who reach age 70 1/2
                        in 1997 or 1998 to elect to receive their payments
                        without regard to this sentence.

                                      -8-
<PAGE>

                  (c)   "Early Retirement Date" means the first day of the
                        calendar month coincident with or next following the
                        date a Participant's Continuous Service terminates
                        because of retirement on or after he has attained his
                        Early Retirement Age, but before his Normal Retirement
                        Age.

                  (d)   "Disability Retirement Date" means the first day of the
                        calendar month coincident with or next following the
                        date a Participant's Continuous Service terminates
                        because he became Disabled prior to reaching his Normal
                        Retirement Age. In the event a Participant becomes
                        Disabled, he shall, for purposes of computing his
                        retirement benefits under Article IV, be deemed to be in
                        the Continuous Service of the Employer so long as such
                        Disability continues (as if he were on an approved leave
                        of absence) until the first to occur of:

                        (i)   Normal Retirement Age;

                        (ii)  retirement on or after his Early Retirement Age;

                        (iii) the date he is no longer Disabled; or

                        (iv)  death.

                  (e)   "Deferred Vested Retirement Date" means, for a
                        Participant whose Continuous Service terminates after he
                        has attained his Vested Retirement Age for reasons other
                        than Normal or Early Retirement, Disability or Death,
                        the first day of any calendar month coincident with or
                        next following his 55th birthday as of which he makes
                        application for a Deferred Vested Retirement Benefit,
                        but in no event later than the first day

                                      -9-
<PAGE>

                        of the calendar month coincident with or next following
                        his Normal Retirement Age.

                  (f)   "Full Career Retirement Date" means the first day of the
                        calendar month coincident with or next following the
                        date a Participant's Continuous Service terminates
                        because of his Early Retirement on or after he has
                        attained his Full Career Retirement Age, but before his
                        Normal Retirement Age.

Section 2.25.     Service definitions:

                  (a)   "Hours of Service" means for an Employee or Participant,
                        any of the following:

                        (i)   each hour for which he is paid or entitled to
                              payment for the performance of duties for an
                              Employer or Affiliated Company;

                        (ii)  each hour for which he performed no duties for an
                              Employer or Affiliated Company (regardless of
                              whether the employment relationship had
                              terminated) by reason of vacation, holiday,
                              illness, incapacity (including disability),
                              layoff, jury duty, military duty or leave of
                              absence but for which he is directly or indirectly
                              paid or entitled to payment by an Employer or
                              Affiliated Company (excluding, however, payments
                              made solely as reimbursement for medical or
                              medically-related expenses or solely for the
                              purpose of complying with applicable workmen's
                              compensation, unemployment compensation or
                              disability insurance laws), but an individual will
                              not be credited with more than 501 Hours of

                                      -10-
<PAGE>

                              Service under this paragraph for any single
                              continuous period during which he performed no
                              duties for an Employer or Affiliated Company;

                        (iii) each hour for which back pay, irrespective of
                              mitigation of damages, has been awarded to the
                              Employee or Participant or agreed to by an
                              Employer or Affiliated Company; and

                        (iv)  each hour which would normally have been credited
                              as an Hour of Service except that the individual
                              was absent from work because of her pregnancy, the
                              birth of his or her child, the placement of a
                              child with him or her following adoption or caring
                              for his or her child immediately following such
                              birth or placement; provided, however, that Hours
                              of Service will be credited under this paragraph
                              only to the extent that (after counting Hours of
                              Service already credited under paragraphs
                              (i)-(iii)) credit under this paragraph is
                              necessary to prevent the Employee or Participant
                              from having a Break in Service.

                        The same Hours of Service will not be credited under
                        paragraph (i) or (ii) and again under paragraph (iii)
                        and no Hour of Service credited under paragraph (i),
                        (ii) or (iii) will be credited again under paragraph
                        (iv). The provisions of paragraphs (i), (ii) and (iii)
                        will be applied in accordance with Department of Labor
                        Regulations Section 2530.200b-2(b) and (c), which are
                        incorporated into this Section by reference.

                                      -11-
<PAGE>

                  (b)   "Continuous Service" means an Employee's last continuous
                        period of employment with an Employer and any Affiliated
                        Company determined in accordance with reasonable and
                        uniform standards and policies adopted by the Employer
                        from time to time, which standards and policies shall be
                        consistently observed; provided, however, that:

                        (i)   Continuous Service shall be determined in
                              completed full years and completed fractions of
                              years in excess of completed full years, each full
                              12 months of Continuous Service constituting a
                              completed full year of Continuous Service and any
                              full month of Continuous Service in excess of the
                              completed full years constituting a fractional
                              one-twelfth of a year of Continuous Service.

                        (ii)  An Employee shall receive credit for one full year
                              of Continuous Service for any Plan Year during
                              which he has at least 1,000 Hours of Service,
                              except that service in a Plan Year prior to the
                              Plan Year in which the Employee attained age 18
                              shall be disregarded. Notwithstanding the
                              preceding sentence, if an Employee has fewer than
                              1,000 Hours of Service for any Plan Year he shall
                              receive credit for Continuous Service for that
                              Plan Year at the rate of one month for each full
                              190 Hours of Service he has during the Plan Year
                              only if his customary employment is at the rate of
                              at least 1,000 Hours of Service for that Plan
                              Year.

                        (iii) Continuous Service shall not be deemed to have
                              been broken:

                                      -12-
<PAGE>

                              (A)   During such period as an Employee is
                                    receiving credit for Hours of Service under
                                    Section 2.25(a)(ii)-(iv) while on leave,
                                    vacation, holiday, or while in the military
                                    service, on jury duty, or lay off, as
                                    specified therein.

                              (B)   During any Plan Year in which an Employee
                                    has more than 500 Hours of Service.

                        (iv)  If an Employee who has had a Break In Service is
                              subsequently reemployed by an Employer as an
                              Employee, he shall be considered a new Employee
                              for purposes of the Plan, except:

                              (A)   If at such Break In Service he became
                                    eligible for a benefit under Article IV
                                    hereof, the Continuous Service (and Credited
                                    Service) he had at the commencement of such
                                    Break In Service shall be reinstated upon
                                    his reemployment as provided in Article IV
                                    hereof.

                              (B)   If he is reemployed before at least 12
                                    months have elapsed after such Break In
                                    Service, the Continuous Service (and
                                    Credited Service) he had at the commencement
                                    of such Break In Service shall be reinstated
                                    upon his reemployment.

                              (C)   If neither (A) nor (B) above is applicable,
                                    and if the period between such Break In
                                    Service and his reemployment does not equal
                                    or exceed the greater of five (5) years or
                                    the number of years of Continuous Service he
                                    had at such

                                      -13-
<PAGE>

                                    Break In Service, and he is reemployed for a
                                    period of 12 months during which he
                                    completes at least 1,000 Hours of Service,
                                    the Continuous Service (and Credited
                                    Service) he had at such Break In Service
                                    shall be reinstated after such reemployment.

                              If such prior Continuous Service (and Credited
                              Service) is reinstated, an Employee shall commence
                              to participate in the Plan again on the date he
                              performs his first Hour of Service for an Employer
                              after his reemployment.

                  (c)   "Break In Service" means a Plan Year in which the
                        Participant is credited with fewer than 501 Hours of
                        Service.

                  (d)   "Credited Service" means a Participant's Hours of
                        Service for which he receives credit for purposes of the
                        Plan, as follows:

                        (i)   For any Hours of Service after October l, 1949 and
                              prior to January 1, 1975, his Hours of Service
                              included in determining his Continuous Service
                              after October l, 1949 and before January 1, 1975
                              shall be reduced by:

                              (A)   Any Hours of Service completed before age
                                    21.

                              (B)   Any Hours of Service completed after the
                                    Normal Retirement Age; provided however that
                                    if a Participant has at least one Hour of
                                    Service after December 31, 1987, the
                                    Participant's Continuous Service shall not
                                    be reduced for

                                      -14-
<PAGE>

                                    any Hours of Service completed after his
                                    Normal Retirement Age.

                              (C)   Any remaining Hours of Service which did not
                                    qualify for "Credited Service" under the
                                    Plan as it existed on the date immediately
                                    prior to January 1, 1975.

                        (ii)  For any Hours of Service on or after January 1,
                              1975, his Hours of Service included in determining
                              his Continuous Service after December 31, 1974
                              shall be reduced by:

                              (A)   Any Hours of Service completed before age
                                    21.

                              (B)   Any Hours of Service completed after the
                                    Normal Retirement Age; provided however that
                                    if a Participant has at least one Hour of
                                    Service after December 31, 1987, the
                                    Participant's Continuous Service shall not
                                    be reduced for any Hours of Service
                                    completed after his Normal Retirement Age.

                              (C)   Any remaining Hours of Service during which
                                    he was on any leave of absence or lay off,
                                    as provided in Section 2.25(a)(ii), other
                                    than, effective January 1, 1995, an approved
                                    leave of absence; provided however that, to
                                    the extent permitted by law, the Hours of
                                    Service of any Participant who was on
                                    military leave shall not be reduced.

                        (iii) Credited Service shall be computed annually for
                              each Participant on the basis of Hours of Service
                              in each Plan Year which remain

                                      -15-
<PAGE>

                              after the reductions in (i) and (ii) above. A
                              Participant shall receive credit for one full year
                              of Credited Service for any Plan Year during which
                              he has at least 1,800 Hours of Service remaining
                              after such reductions. If a Participant has less
                              than 1,800 Hours of Service remaining for any Plan
                              Year, he shall receive credit for Credited Service
                              at the rate of one month for each full 190 Hours
                              of Service.

                        (iv)  In no event shall a Participant be credited with
                              more than 35 years of Credited Service.

                  (e)   Other Service Credits. For purposes of determining Hours
                        of Service, Continuous Service and Credited Service, an
                        Employee who was employed on January 1, 1975 shall
                        receive credit as herein provided for employment:

                        (i)   During the period October l, 1949 to September 30,
                              1969 by John Nuveen & Co., a partnership, John
                              Nuveen & Co., a Delaware corporation, and Nuveen
                              Corporation, predecessor entities of the Company.

                        (ii)  During the period October l, 1949 to March 22,
                              1974, by Investors Diversified Services, Inc.,
                              parent of the Company immediately prior to March
                              22, 1974 and sponsor of the predecessor retirement
                              plan to this Plan.

                  (f)   From time to time the Company may make acquisitions of
                        other businesses and in the contracts effecting such
                        acquisitions may provide for

                                      -16-
<PAGE>

                        crediting persons who become Employees with Hours of
                        Service, Continuous Service or Credited Service for
                        periods prior to the date they became Employees. The
                        Committee is authorized and directed to provide for such
                        service credits for such Employees, according to the
                        relevant contract provisions, as if such contract
                        provisions were included in this Plan, and the Committee
                        may set forth such provisions for a group of Employees
                        in a Supplement or Appendix which will form a part of
                        this Plan.

                  (g)   Leased Employees. If a leased employee, within in the
                        meaning of Code Section 414(n), becomes an Employee, his
                        service with the Company or an Affiliated Company while
                        a leased employee shall be included for purposes of
                        computing his Hours of Service and Continuous Service
                        under the Plan.

                  (h)   Qualified Military Service. Effective as of December 12,
                        1994, for purposes of determining Hours of Service,
                        Continuous Service and Credited Service, an Employee
                        shall receive credit for qualified military service in
                        accordance with the requirements of Code Section 414(u)
                        and any Treasury Regulations or other official guidance
                        issued under that Section.

Section 2.26.     "Social Security Retirement Age" means the age at which a
                  Participant is entitled to receive his or her full, unreduced
                  Social Security benefit, determined as follows:

                                      -17-
<PAGE>

<TABLE>
<CAPTION>
                        Year Participant                   Social Security
                        Attains Age 62                     Retirement Age
                        --------------                     --------------
<S>                                                        <C>
                        Before 2000                        65
                        After 1999 and before 2017         66
                        After 2016                         67
</TABLE>

Section 2.27.     "Spouse" means (a) the widow or widower of a deceased
                  Participant who was married to the Participant throughout the
                  one-year period immediately preceding the earlier of the
                  Participant's Retirement Date or the date of the Participant's
                  death or (b) the widow or widower of a deceased Participant
                  who married the Participant within one year preceding the
                  Participant's Retirement Date and was married to the
                  Participant for at least a one-year period ending on or before
                  the date of the Participant's death. Effective as of January
                  1, 1998, to the extent required under a qualified domestic
                  relations order, as described in Code Section 414(p), a former
                  spouse will be treated as a Spouse.

                                      -18-
<PAGE>

Section 2.28.     Top-Heavy Plan Definitions:

                  (a)   "Top-Heavy Plan" or "Top-Heavy" means the Plan if, as of
                        the Determination Date, the present value of the accrued
                        benefits of Key Employees under the Plan exceeds 60% of
                        the present value of the accrued benefits of all
                        Participants under the Plan, as determined in accordance
                        with the provisions of Section 4l6(g) of the Code. The
                        determination of whether the Plan is Top-Heavy shall be
                        made after aggregating all other tax-qualified plans of
                        the Employer which are required to be aggregated
                        pursuant to Section 4l6(g)(2) of the Code ("required
                        aggregation group") and after aggregating any other such
                        plan of the Employer which may be taken into account
                        under the permissive aggregation rules of Section
                        4l6(g)(2)(a)(ii) of the Code if such permissive
                        aggregation thereby eliminates the Top-Heavy status of
                        any plan within such permissive aggregation group. The
                        Plan is "Super Top-Heavy" if, as of the Determination
                        Date, the Plan would meet the test specified above for
                        being a Top-Heavy Plan if "90%" were substituted for
                        "60%" in each place it appears in this subsection. The
                        above test shall be applied taking into account the
                        following rules:

                        (i)   Plan Year Beginning Before January 1, 2002. For
                              the purposes of this Section, the terms "Employee"
                              and "Key Employee" shall include only such
                              individuals who received compensation from the
                              Employer at any time during the five-year period
                              ending on the Determination Date. For purposes of
                              this Section, the present

                                      -19-
<PAGE>

                              values of accrued benefits and the amounts of
                              account balances of an Employee as of the
                              Determination Date shall be increased by the
                              distributions made to the Employee under the Plan
                              and any Plan aggregated with the Plan under
                              Section 416(g)(2) of the Code during the five-year
                              period ending on the Determination Date. The
                              preceding sentence shall also apply to
                              distributions under a terminated plan which, had
                              it not been terminated would have been aggregated
                              with the Plan under Section 416(g)(2)(A)(i) of the
                              Code.

                        (ii)  Plan Years Beginning on or after January 1, 2002.
                              For purposes of this Section, the present values
                              of accrued benefits and the amounts of account
                              balances of an Employee as of the Determination
                              Date shall be increased by the distributions made
                              to the Employee under the Plan and any Plan
                              aggregated with the Plan under Section 416(g)(2)
                              of the Code during the one-year period ending on
                              the Determination Date. The preceding sentence
                              shall also apply to distributions under a
                              terminated plan, which had not been terminated
                              would have aggregated with the Plan under Section
                              416(g)(2)(A)(i) of the Code. In the case of a
                              distribution made for a reason other than
                              separation of service, death or disability, this
                              provision shall be applied by substituting
                              "five-year period" for "one-year period." For the
                              purposes of this Section, the terms "Employee" and
                              "Key Employee" shall not include any

                                      -20-
<PAGE>

                              individual who has not performed services for the
                              Employer during the one-year period ending on the
                              Determination Date.

                  (b)   "Determination Date" means, for purposes of determining
                        whether the Plan is Top-Heavy for a particular Plan
                        Year, the last day of the preceding Plan Year.

                  (c)   "Key Employee" means, for Plan Years ending before
                        January 1, 2002, any Participant (including a
                        beneficiary of such Participant) who at any time during
                        the Plan Year including the Determination Date or any of
                        the four preceding Plan Years is:

                        (i)   An officer of the Employer who receives
                              Compensation of more than 50% of the maximum
                              dollar limitation under Section 4l5(b)(l)(A) of
                              the Code (but in no event shall more than 50
                              Employees or, if less, the greater of three or 10%
                              of all Employees be taken into account hereunder
                              as Key Employees);

                        (ii)  One of the ten Employees owning (or considered as
                              owning within the meaning of Section 3l8 of the
                              Code) more than l/2% interest and the largest
                              interest in the Employer provided that such
                              Employee also has Compensation for that Plan Year
                              exceeding the maximum dollar limitation under
                              Section 4l5(c)(l)(A) of the Code in effect for the
                              calendar year in which the Determination Date
                              falls;

                        (iii) An Employee owning (or considered as owning within
                              the meaning of Section 3l8 of the Code) more than
                              5% of the outstanding stock

                                      -21-
<PAGE>

                              of the Employer or stock possessing more than 5%
                              of the total combined voting power of all stock of
                              the Employer; or

                        (iv)  An Employee who receives as annual Compensation
                              from the Employer more than $150,000 and who would
                              fall within paragraph (iii) above if "1%" were
                              substituted for "5%".

                        For purposes of applying Section 3l8 of the Code to the
                        provisions of this subsection, Section 3l8(a)(2)(C) of
                        the Code shall be applied by substituting "5%" for
                        "50%". In addition, the rules of Section 414(b), (c) and
                        (m) of the Code shall not apply for purposes of
                        determining ownership percentage in an Employer under
                        this subsection. For the purposes of this subsection
                        2.28(c), Compensation means compensation paid during a
                        Plan Year as defined in Treasury Regulation Section
                        1.415-2(d) promulgated under the Code.

                        "Key Employee" means, for Plan Years beginning on or
                        after January 1, 2002, "Key Employee" means any Employee
                        or former Employee (including any deceased Employee) who
                        at any time during the Plan Year that includes the
                        Determination Date was an officer of the Employer having
                        annual compensation greater than $130,000 (as adjusted
                        under Section 416(i)(1) of the Code), a 5-percent owner
                        of the Employer, or a 1-percent owner of the Employer
                        having annual compensation of more than $150,000. For
                        this purpose, annual compensation means compensation
                        within the meaning of Section 415(c)(3) of the Code. The
                        determination of who is a Key Employee will be made in
                        accordance with Section

                                      -22-
<PAGE>

                        416(i)(1) of the Code and the applicable regulations and
                        other guidance of general applicability issued
                        thereunder.

                  (d)   "Non-Key Employee" means any Participant (including any
                        Beneficiary of such Participant) who is not a Key
                        Employee.

Section 2.29.     "Trust Fund" means the assets held under any trust forming a
                  part of the Plan.

Section 2.30.     "Trust" means any trust established to receive, hold, invest
                  and dispose of any assets of the Trust Fund.

Section 2.31.     "Trustee" means the individuals, or individual, or corporate
                  fiduciary, or combination thereof, acting as trustee under the
                  Trust at any time of reference.

Section 2.32.     Gender and Number. Except when otherwise indicated by the
                  context, any masculine terminology herein shall also include
                  the feminine and neuter, and the definition of any term herein
                  in the singular may also include the plural.

                   ARTICLE III. Eligibility and Participation

Section 3.1.      Date of Participation.

                  (a)   Each Employee who was a Participant in the Plan on
                        December 31, 1996 will continue to be a Participant.

                  (b)   Each other person who is an Employee or who becomes an
                        Employee on or after January 1, 1997 will become a
                        Participant on the earlier of the January l or July l
                        next following the date when he is an Employee and has
                        attained age 21 and the first to occur of (i), (ii) or
                        (iii) below:

                        (i)   Completion of one year of Continuous Service if
                              his customary employment is at the rate of at
                              least 1,000 Hours of Service during a calendar
                              year; or

                                      -23-
<PAGE>

                        (ii)  If his customary employment is not at the rate of
                              at least 1,000 Hours of Service during a calendar
                              year but he actually has 1,000 Hours of Service or
                              more during the twelve-month period following his
                              date of employment, the first anniversary of his
                              date of employment; or

                        (iii) If his customary employment is not at the rate of
                              at least 1,000 Hours of Service during a calendar
                              year and he does not actually have 1,000 Hours of
                              Service or more during the twelve-month period
                              following his date of employment, but he actually
                              has 1,000 Hours of Service or more during any
                              calendar year ending thereafter, then the last day
                              of such calendar year.

                  For Plan Years beginning before January 1, 1988, an Employee
                  could be excluded from participation if he had attained age 60
                  before the date his Continuous Service had begun. Effective
                  January 1, 1988, each Employee who was previously excluded
                  from participation because of the preceding sentence
                  automatically became a Participant on the later of (A) January
                  1, 1988; or (B) the earlier of the January 1 or July 1 next
                  following the date he satisfied the service requirements of
                  paragraph (b) above.

Section 3.2.      Duration. An Employee who becomes a Participant shall remain a
                  Participant until he has a Break In Service, and also shall
                  continue to be treated as a Participant thereafter for as long
                  as he is entitled to receive any benefits hereunder. If he has
                  a Break In Service before becoming entitled to receive any
                  benefits hereunder, such Employee shall cease to be a
                  Participant unless and until

                                      -24-
<PAGE>

                  he again becomes eligible to become a Participant in
                  accordance with the provisions of Sections 2.25(b)(iv) and
                  3.l.

                              ARTICLE IV. Benefits

Section 4.1.      Normal Retirement Benefits.

                  (a)   Eligibility. A Participant who attains his Normal
                        Retirement Date shall have a nonforfeitable right to
                        receive a Normal Retirement Benefit as described in this
                        Section.

                  (b)   Amount. The amount of a Participant's Normal Retirement
                        Benefit will be either (x) or (y), whichever is
                        applicable, except that the Normal Retirement Benefit
                        for any Participant described in (z) will be the greater
                        of (x) or (y) (whichever is applicable) or (z).

                        (x) Participants with Credited Service that includes
                        Hours of Service during the period October l, 1949 to
                        September 30, 1969 with the Company or a predecessor
                        entity described in Section 2.25(e)(i) shall be entitled
                        to a monthly Retirement Benefit equal to:

                        (i)   An amount computed by multiplying the number of
                              his years of Credited Service accumulated during
                              the period October l, 1949 to September 30, 1969
                              by l% of his Average Monthly Compensation; plus

                        (ii)  An amount computed by multiplying the number of
                              years of Credited Service accumulated subsequent
                              to September 30, 1969 by l-1/2% of his Average
                              Monthly Compensation; minus

                                      -25-
<PAGE>

                        (iii) 1-1/2% of the Primary Social Security Benefit to
                              which he is entitled at age 65 (even if his Social
                              Security Retirement Age is not 65) multiplied by
                              the number of years of his Credited Service
                              accumulated after January l, 1975, but not to
                              exceed 50% of such Primary Social Security
                              Benefit.

                        (y) Participants not described in (x) shall be entitled
                        to a monthly Retirement Benefit equal to:

                        (i)   An amount computed by multiplying the number of
                              years of Credited Service by l-1/2% of his Average
                              Monthly Compensation; minus

                        (ii)  1-1/2% of the Primary Social Security Benefit to
                              which he is entitled at age 65 (even if his Social
                              Security Retirement Age is not 65) multiplied by
                              the number of years of his Credited Service
                              accumulated after January l, 1975, but not to
                              exceed 50% of such Primary Social Security
                              Benefit.

                        (z) A Participant who had Compensation in any Plan Year
                        which exceeds the limits in Section 2.11 shall be
                        entitled to a monthly Retirement Benefit equal to the
                        greatest of:

                        (i)   the amount determined under (x) or (y), as
                              applicable, calculated using his Credited Service
                              through December 31, 1993 and the definition of
                              Compensation in Section 2.11 applicable through
                              that date plus the amount determined under (y)
                              using his Credited

                                      -26-
<PAGE>

                              Service after December 31, 1993 and the definition
                              of Compensation in Section 2.11 applicable after
                              that date;

                        (ii)  his Normal Retirement Benefit under (x) or (y), as
                              applicable, calculated using his Credited Service
                              through December 31, 1988 and the definition of
                              Compensation under Section 2.11 applicable through
                              that date, plus the amount determined under (y)
                              using his Credited Service for the period January
                              1, 1989 - December 31, 1993 and the definition of
                              Compensation in Section 2.11 applicable for that
                              period, plus the amount determined under (y),
                              using his Credited Service after December 31, 1993
                              and the definition of Compensation in Section 2.11
                              applicable after that date; or

                        (iii) the amount determined under (x) or (y), as
                              applicable, calculated using all the Participant's
                              Credited Service through the calculation date, and
                              applying the limit on Compensation under Section
                              2.11 applicable to Plan Years beginning after
                              December 31, 1993 to all Plan Years.

                  (c)   Commencement and Duration. Monthly Normal Retirement
                        Benefit payments shall begin as of the Retired
                        Participant's Normal Retirement Date. When payments
                        begin they shall be paid monthly thereafter as of the
                        first day of each succeeding month during his lifetime,
                        provided, however, if he is reemployed as an Employee,
                        his benefit payments shall be suspended and shall not be
                        paid or accrue during the period of such

                                      -27-
<PAGE>

                        reemployment, but he shall have his Continuous Service
                        and Credited Service he had at his Normal Retirement
                        Date reinstated. Upon his subsequent retirement his
                        eligibility for a benefit and the amount of the benefit
                        shall be determined, calculated and paid as if he were
                        then first retired, based upon such reinstated
                        Continuous Service and Credited Service, plus such
                        service earned following the date of reemployment,
                        provided that such benefit shall be adjusted in
                        accordance with the last sentence of Section 4.12.

Section 4.2.      Early Retirement Benefits.

                  (a)   Eligibility. A Participant who attains his Early
                        Retirement Date shall be eligible to receive an Early
                        Retirement Benefit as described in this Section. Such a
                        Participant, in lieu of an Early Retirement Benefit may
                        elect a Deferred Vested Retirement Benefit as described
                        in Section 4.5 at a date subsequent to his Early
                        Retirement Age.

                  (b)   Amount. A Retired Participant who is eligible to receive
                        an Early Retirement Benefit pursuant to paragraph (a)
                        above, shall be entitled to receive a monthly Early
                        Retirement Benefit beginning at his Early Retirement
                        Date equal to an amount computed in the same manner as
                        his Normal Retirement Benefit under Section 4.l hereof,
                        based upon the provisions of the Plan as in effect as of
                        the Early Retirement Date and using for benefit
                        calculation purposes the Retired Participant's Credited
                        Service and Average Monthly Compensation at his Early
                        Retirement Date. This amount shall then be reduced by
                        the percentage thereof set forth in

                                      -28-
<PAGE>

                        the table below opposite the age of the Retired
                        Participant on his Early Retirement Date:

<TABLE>
<CAPTION>
                                                           Percentage
                                  Age                      Reduction
                                  ---                      ---------
<S>                                                        <C>
                                  64                       3%
                                  63                       6%
                                  62                       9%
                                  61                       12%
                                  60                       15%
                                  59                       21%
                                  58                       27%
                                  57                       33%
                                  56                       39%
                                  55                       45%
</TABLE>

                        (Reductions for intermediate ages shall be applied by
                        straight line interpolation in the above table.)

                  (c)   Commencement and Duration. Monthly Early Retirement
                        Benefit payments shall begin as of the Retired
                        Participant's Early Retirement Date. When payments begin
                        they shall be paid monthly thereafter as of the first
                        day of each succeeding month during his lifetime;
                        provided, however, if he is reemployed as an Employee
                        his benefit payments shall be discontinued and shall not
                        be paid or accrue during the period of such
                        reemployment, but he shall have his Continuous Service
                        and Credited Service he had at the time of his
                        retirement reinstated. Upon his subsequent retirement
                        his eligibility for a benefit and the amount of the
                        benefit shall be determined, calculated and paid as if
                        he were then first retired based upon such reinstated
                        Continuous Service and Credited Service plus such
                        service

                                      -29-
<PAGE>

                        earned following the date of reemployment, provided that
                        such benefit shall be adjusted in accordance with the
                        last sentence of Section 4.12.

Section 4.3.      Postponed Retirement Benefits.

                  (a)   Eligibility. A Participant who attains his Postponed
                        Retirement Date shall be eligible to receive a Postponed
                        Retirement Benefit, as described in this Section.

                  (b)   Amount. The Postponed Retirement Benefit shall be an
                        amount computed in the same manner as a Normal
                        Retirement Benefit under Section 4.1, but using the
                        Participant's Credited Service and Average Monthly
                        Compensation as of his Postponed Retirement Date. If a
                        Participant elects to defer payment as provided for in
                        the last sentence of Section 2.24(b), his Postponed
                        Retirement Benefit as of any date after the later of the
                        Effective Date or the April 1 following the end of the
                        Plan Year in which he reached age 70-1/2 shall be the
                        greater of (i) his Postponed Retirement Benefit
                        calculated under the preceding sentence and (ii) his
                        Postponed Retirement Benefit calculated under the
                        preceding sentence as of the date one year earlier, then
                        actuarially increased to the present date, using the
                        factors in paragraph (A) of Appendix A.

                  (c)   Commencement and Duration. Monthly Postponed Retirement
                        Benefit payments shall begin as of such Retired
                        Participant's Postponed Retirement Date. When payments
                        begin they shall be paid monthly thereafter as of the
                        first day of each succeeding month during his lifetime.

                                      -30-
<PAGE>

Section 4.4.      Disability Retirement Benefits.

                  (a)   Eligibility. A Participant who attains his Disability
                        Retirement Date shall be eligible to receive a
                        Disability Retirement Benefit as described in this
                        Section.

                  (b)   Amount. The Disabled Participant who is eligible to
                        receive a Disability Retirement Benefit pursuant to
                        paragraph (a) above shall be entitled to receive a
                        monthly Disability Retirement Benefit beginning at his
                        Normal Retirement Date (unless he elects an Early
                        Retirement Benefit) of an amount computed in the same
                        manner as a Normal Retirement Benefit under Section 4.l,
                        based upon the provisions of the Plan as in effect at
                        his Disability Retirement Age and based upon his Average
                        Monthly Compensation as of the date on which he became
                        Disabled, and on his Credited Service at his Normal
                        Retirement Date assuming his Continuous Service
                        continued and he received credit for Credited Service
                        until his Normal Retirement Date. If a Participant
                        ceases to be Disabled prior to his Normal Retirement Age
                        (for any reason except death) but he is not reemployed
                        as an Employee within thirty (30) days thereafter, or if
                        a Disabled Participant is eligible for and elects to
                        take an Early Retirement Benefit, then he will be deemed
                        to have been terminated as of the date he is no longer
                        Disabled or his Early Retirement Date, as applicable,
                        and will be entitled to the benefits determined in
                        accordance with Section 4.2 or 4.5, as the case may be,
                        for which he would have been eligible at his Disability
                        Retirement Age, based upon the provisions of the Plan as
                        in effect at his Disability Retirement Age and upon his
                        Average Monthly

                                      -31-
<PAGE>

                        Compensation at his Disability Retirement Age, assuming
                        he continued to receive credit for Continuous Service
                        and Credited Service until the date he is no longer
                        Disabled or his Early Retirement Date.

Section 4.5.      Deferred Vested Retirement Benefits.

                  (a)   Eligibility. A Participant who attains his Deferred
                        Vested Retirement Date shall be eligible to receive a
                        Deferred Vested Retirement Benefit as described in this
                        Section.

                  (b)   Amount. A terminated Participant who is eligible to
                        receive a Deferred Vested Retirement Benefit pursuant to
                        paragraph (a) above, shall be entitled to a monthly
                        Deferred Vested Retirement Benefit beginning at his
                        Deferred Vested Retirement Date of an amount computed as
                        of his Deferred Vested Retirement Age in the same manner
                        as a Normal Retirement Benefit under Section 4.l (using
                        the Participant's actual Average Monthly Compensation
                        and Credited Service as of his Deferred Vested
                        Retirement Date) if the Participant is 65 years of age
                        on his Deferred Vested Retirement Date and reduced under
                        Section 4.2(b) if the Participant has not attained age
                        65 on his Deferred Vested Retirement Date, and
                        multiplied by such Participant's vested percentage as
                        specified in Section 4.11 and based upon the provisions
                        of the Plan as in effect as of the date of his
                        termination of Continuous Service and using for benefit
                        calculation purposes the Participant's Credited Service
                        and Average Monthly Compensation on the date his
                        Continuous Service terminated.

                                      -32-
<PAGE>

                  (c)   Commencement and Duration. Monthly Deferred Vested
                        Retirement Benefit payments shall begin as of the
                        terminated Participant's Deferred Vested Retirement
                        Date; provided, however, if a terminated Participant
                        receiving or entitled to receive a Deferred Vested
                        Retirement Benefit hereunder shall be reemployed as an
                        Employee before or after the date his benefit payments
                        begin, any benefit payments he may be receiving shall be
                        discontinued and shall not be paid or accrue during the
                        period of such reemployment, but he shall have his
                        Continuous Service and Credited Service at the time of
                        his termination of Continuous Service reinstated. Upon
                        his subsequent retirement or termination of Continuous
                        Service his eligibility for a benefit and the amount of
                        the benefit shall be determined and calculated as if he
                        were then first retired or terminated based upon such
                        reinstated Continuous Service and Credited Service plus
                        such service earned following the date of reemployment,
                        provided that such benefit shall be adjusted in
                        accordance with the last sentence of Section 4.12.

Section 4.6.      Full Career Retirement Benefits.

                  (a)   Eligibility. A Participant who attains his Full Career
                        Retirement Date shall be eligible to receive a Full
                        Career Retirement Benefit as described in this Section.

                  (b)   Amount. A Retired Participant who is eligible to receive
                        a Full Career Retirement Benefit pursuant to paragraph
                        (a) above, shall be entitled to receive a monthly Full
                        Career Retirement Benefit beginning at his Full Career
                        Retirement Date of an amount computed as of his Full
                        Career

                                      -33-
<PAGE>

                        Retirement Date in the same manner as his Normal
                        Retirement Benefit under Section 4.l, based upon the
                        provisions of the Plan as in effect as of the Full
                        Career Retirement Date and using for benefit calculation
                        purposes the Retired Participant's Credited Service and
                        Average Monthly Compensation at his Full Career
                        Retirement Date.

                  (c)   Commencement and Duration. Monthly Full Career
                        Retirement Benefit payments shall begin as of the
                        Retired Participant's Full Career Retirement Date;
                        provided, however, if he is reemployed as an Employee,
                        his benefit payments shall be discontinued and shall not
                        be paid or accrue during the period of such
                        reemployment, but he shall have his Continuous Service
                        and Credited Service he had at the time of his
                        retirement reinstated. Upon his subsequent retirement,
                        his eligibility for a benefit and the amount of the
                        benefit shall be determined and calculated and paid as
                        if he were then first retired based upon such reinstated
                        Continuous Service and Credited Service plus such
                        service earned following the date of reemployment,
                        provided that such benefit shall be adjusted in
                        accordance with the last sentence of Section 4.12.

Section 4.7.      Automatic Postretirement (Joint and Survivor) Surviving Spouse
                  Benefits.

                  (a)   Eligibility and Conditions. Unless an optional form of
                        settlement is selected under Section 4.9 pursuant to a
                        Qualified Waiver within the Election Period ending on
                        the date Retirement Benefit payments would commence, the
                        Participant shall be deemed to have automatically
                        elected

                                      -34-
<PAGE>

                        to receive a monthly Retirement Benefit payable to him
                        in the form of a Qualified Joint and Survivor Annuity.

                        (i)   Effective Date of Automatic Election. The
                              automatic election provided in this Section 4.7
                              shall be effective on the first to occur of: (A)
                              the Participant's Retirement Date, or (B) the
                              Participant's Normal Retirement Age; provided,
                              however, it will become effective on the date he
                              has been married one year if he is married when
                              the election would otherwise become effective
                              under (A) or (B) above but such marriage has been
                              in effect less than one year at that date.

                        (ii)  Election Period for Qualified Waiver of Automatic
                              Election. With respect to a Qualified Waiver under
                              this Section 4.7, the election period is the
                              90-day period ending on the effective date of the
                              election specified in (i) above, or such later
                              date as shall be required by regulations
                              prescribed by the Secretary of the Treasury.

                        (iii) Qualified Waiver. A waiver of a Qualified Joint
                              and Survivor Annuity must be in writing and must
                              be consented to by the Participant's Spouse. The
                              Spouse's consent to the waiver must be witnessed
                              by a Plan representative or notary public and must
                              acknowledge the identity of the Participant's
                              designated Beneficiary and the optional form of
                              settlement under which the Participant's
                              Retirement Benefit will be paid. Notwithstanding
                              this consent requirement, if the Participant
                              establishes to the

                                      -35-
<PAGE>

                              satisfaction of a Plan representative that such
                              written consent may not be obtained because there
                              is no Spouse or the Spouse cannot be located, a
                              waiver will be deemed a Qualified Waiver. Any
                              consent necessary under this provision will be
                              valid only with respect to the Spouse who signs
                              the consent, or if a deemed Qualified Waiver, the
                              designated Spouse. Additionally, a revocation of a
                              prior waiver may be made by a Participant without
                              the consent of the Spouse at any time before the
                              commencement of the Participant's Retirement
                              Benefit. The number of revocations shall not be
                              limited.

                        (iv)  Notice Requirements. The Plan Administrator shall
                              provide to each Participant, no less than 30 days
                              and no more than 90 days before the Participant's
                              annuity starting date, a written explanation (in a
                              form which satisfies Treasury Regulation
                              1.401(a)-11(c)(3)) of: (A) the terms and
                              conditions of a Qualified Joint and Survivor
                              Annuity; (B) the Participant's right to make and
                              the effect of any election to waive the Qualified
                              Joint and Survivor Annuity form of benefit; (C)
                              the rights of a Participant's Spouse; and (D) the
                              right to make, and the effect of, a revocation of
                              a previous election to waive the Qualified Joint
                              and Survivor Annuity. A Participant may waive his
                              right under this subparagraph to receive the
                              written explanation no less than 30 days before
                              his annuity starting date if, in fact,
                              distribution of his Retirement Benefit does not
                              commence

                                      -36-
<PAGE>

                              until at least the eighth day following the date
                              he actually received the required written
                              explanation.

                        (v)   Qualified Joint and Survivor Annuity. A
                              Participant who is deemed to have made the
                              automatic election pursuant to this Section 4.7
                              shall receive a reduced amount of monthly
                              Retirement Benefit, which shall be the Actuarial
                              Equivalent of the Retirement Benefit otherwise
                              payable to the Participant, giving effect to the
                              increased costs of the automatic election. The
                              surviving Spouse benefit payable to the surviving
                              Spouse of a Participant who is deemed to have made
                              an automatic election pursuant to this Section 4.7
                              shall be a monthly benefit for the further
                              lifetime of such surviving Spouse equal to 50% of
                              the reduced amount of such Participant's monthly
                              Retirement Benefit as determined under this
                              paragraph.

                  (b)   Amount of Benefits.

                  (i)   For a Participant who is deemed to have made the
                        automatic election pursuant to this Section 4.7 (and who
                        does not reject it as provided in paragraph (a)(ii)
                        above), the reduced amount of his monthly Retirement
                        Benefit referred to in paragraph (a) above shall be the
                        Actuarial Equivalent of the Retirement Benefit otherwise
                        payable to the Participant, giving effect to the
                        increased costs of the automatic election.

                        (ii)  The surviving Spouse benefit payable to the
                              surviving Spouse of a Participant who is deemed to
                              have made an automatic election

                                      -37-
<PAGE>

                              pursuant to this Section 4.7, and who dies after
                              such election becomes effective, shall be a
                              monthly benefit for the further lifetime of such
                              surviving Spouse equal to 50% of the reduced
                              amount of such Participant's monthly Retirement
                              Benefit as determined in paragraph (b)(i) above.

Section 4.8.      Maximum Annual Benefits.

                  (a)   Notwithstanding any other provision of the Plan (with
                        the exception of Section 13.1(c)), the aggregate annual
                        Retirement Benefit payable to a Participant under this
                        Plan as an annuity for his life beginning at age 65 may
                        not exceed the lesser of $90,000 ($160,000 for Plan
                        Years beginning on or after January 1, 2002) (as
                        adjusted under Code Section 415(d)(1)) or the average of
                        his Compensation (as defined in Section 4.8(e) of the
                        Plan) for the three (3) consecutive calendar years when
                        he was a Participant and such compensation was the
                        highest. If a Participant has never been a participant
                        in a defined contribution plan maintained by an
                        Employer, his annual Retirement Benefit limit under this
                        paragraph will not be less than $10,000, however:

                        (i)   The $90,000 limit in paragraph (a) will be
                              adjusted to its Actuarial Equivalent (but using an
                              interest rate assumption which is the greater of
                              5% or the interest rate assumption indicated in
                              Appendix A for purposes of subparagraph (3) below,
                              and using an interest rate which is not greater
                              than the lesser of 5% or the

                                      -38-
<PAGE>

                              interest rate assumption indicated in Appendix A
                              for purposes of subparagraph (4) below), as
                              follows:

                              (1) To reflect payment in a form other than an
                              annuity for the Participant's life or an automatic
                              postretirement (joint and survivor) surviving
                              Spouse benefit.

                              (2) For Plan Years before January 1, 2002, to
                              reduce a Retirement Benefit which begins on or
                              after the date the Participant attains age 62 but
                              before his Social Security Retirement Age to the
                              Actuarial Equivalent of the same pension beginning
                              at the Participant's Social Security Retirement
                              Age as follows:

                                    (A) if the Participant's Social Security
                                    Retirement Age is 65, the reduction shall be
                                    5/9ths of 1% for each month by which the
                                    benefit begins before the month in which the
                                    Participant attains Social Security
                                    Retirement Age; and
                                    (B) if the Participant's Social Security
                                    Retirement Age is greater than 65, the
                                    reduction shall be 5/9ths of 1% for each of
                                    the first 36 months and 5/12ths of 1% for
                                    each of the additional months (up to 24
                                    months) by which the benefit begins before
                                    the month in which the Participant attains
                                    his Social Security Retirement Age.

                              (3) To reduce a Retirement Benefit which begins
                              before the Participant attains age 62 to the
                              Actuarial Equivalent of the same benefit beginning
                              at age 62, reduced for each month by which the

                                      -39-
<PAGE>

                              benefit began before the month in which the
                              Participant attains age 62.

                              (4) To increase a Retirement Benefit which begins
                              after the Participant's Social Security Retirement
                              Age (or, age 65, for Plan Years beginning on or
                              after January 1, 2002) to the Actuarial Equivalent
                              of the same benefit beginning at the Participant's
                              Social Security Retirement Age.

                              For purposes of subparagraphs (2), (3) and (4)
                              above, "Social Security Retirement Age" means the
                              Participant's retirement age under Section 216(l)
                              of the Social Security Act, determined without
                              regard to the age increase factor, and assuming
                              that the early retirement age under Section
                              216(l)(2) of that Social Security Act was 62.

                        (ii)  The limits in paragraph (a)(i) above will be
                              adjusted as follows:

                              (1) If a Participant has fewer than 10 years of
                              Continuous Service, the $90,000 limit, the limit
                              on his average Compensation and the $10,000 limit
                              under paragraph (a) will be multiplied by a
                              fraction whose numerator is his years of
                              Continuous Service and whose denominator is 10.

                              (2) If a Participant was, on December 31, 1986,
                              entitled to receive a Retirement Benefit in excess
                              of the limit determined under this paragraph (a),
                              or would have been entitled to receive a
                              Retirement Benefit in excess of that limit had he
                              retired on

                                      -40-
<PAGE>

                              December 31, 1986, paragraph (a) will not be
                              applied to reduce his Retirement Benefit below
                              that higher amount.

                  (b)   An amount such that the sum of the Defined Contribution
                        Plan Fraction and the Defined Benefit Plan Fraction,
                        determined in accordance with Section 415(e) of the
                        Code, does not exceed 1.0. To the extent that such sum
                        would exceed 1.0, the amount that would otherwise be
                        accrued under this Plan shall be reduced. This Section
                        4.8(b) shall not apply to limitation years commencing
                        after December 31, 1999.

                  (c)   The amount determined in paragraph (a) for a Participant
                        who is separated from the service of an Employer shall
                        be adjusted annually for increases in the cost of living
                        in accordance with Section 415(d) of the Code.

                  (d)   For purposes of this Section 4.8, all defined benefit
                        plans maintained by the Company or an Affiliated Company
                        will be treated as a single defined benefit plan, and
                        all defined contribution plans maintained by the Company
                        or an Affiliated Company will be treated as a single
                        defined contribution plan.

                  (e)   For purposes of this Section 4.8 only, Compensation
                        shall mean compensation paid during a Plan Year as
                        defined in Treasury Regulation Section 1.415-(2)(d)
                        promulgated under the Code, and effective for Plan Years
                        beginning on or after January 1, 1998, shall also
                        include any elective deferrals (as that term is defined
                        in Code Section 402(g)(3)) and any amount which is
                        contributed or deferred by the Employer at the election
                        of the Employee and which is not includible in the gross
                        income of the

                                      -41-
<PAGE>

                        Employee by reason of Code Section 125 and 457.
                        Additionally, effective for Plan Years beginning on or
                        after January 1, 2001, Compensation shall also include
                        any elective reductions in remuneration for qualified
                        transportation benefits within the meaning of Section
                        132(f) of the Code.

Section 4.9.      Optional Forms of Settlement.

                  (a)   Annuity Options. In lieu of the normal form of
                        Retirement Benefit provided for in Sections 4.l, 4.2,
                        4.3, 4.4, 4.5 or 4.6 hereof (including a rejection of
                        the automatic election of the postretirement (joint and
                        survivor) surviving Spouse benefit under Section 4.7
                        hereof), a Participant may elect to receive a monthly
                        Retirement Benefit equal to one of the Actuarial
                        Equivalent forms described below as either Options (l),
                        (2) or (3), subject to all the terms and conditions set
                        forth in Section 4.l0 hereof:

                        (i)   10 Year Certain Option (Option (l)). A reduced
                              monthly Retirement Benefit payable to the
                              Participant for the remainder of his lifetime and,
                              in the event of the Participant's death prior to
                              the receipt of 120 of such monthly payments, the
                              same monthly payment shall continue to be paid to
                              the Participant's Beneficiary until a total of 120
                              of such monthly payments shall have been paid to
                              the Participant and his Beneficiary; provided,
                              however, that payments, if any, to the Beneficiary
                              may not extend beyond the life expectancies of the
                              Participant and his Beneficiary determined in
                              accordance with regulations prescribed by the
                              Secretary of the Treasury as of his Retirement
                              Date; and provided further, that if

                                      -42-
<PAGE>

                              payments to the Participant had not commenced as
                              of his death, payments to a designated Beneficiary
                              will be distributed over a period not extending
                              beyond the life of the Beneficiary or over a
                              period not extending beyond the life expectancy of
                              the Beneficiary determined as of the Participant's
                              death and payments will commence no later than one
                              year after the Participant's death or, in the case
                              of a surviving Spouse being the Beneficiary, no
                              later than the date the Participant would have
                              attained age 70 1/2.

                        (ii)  50%, 66-2/3% or 100% Joint and Survivor Annuity
                              Option (Option (2)). A reduced monthly Retirement
                              Benefit payable to the Participant for the
                              remainder of his lifetime and, if the Participant
                              shall predecease his designated contingent
                              annuitant, all or a fractional part of such
                              reduced monthly amount (such as l/2 or 2/3
                              thereof) as designated by him shall be payable to
                              his designated contingent annuitant; provided,
                              however, if payments to the Participant had not
                              commenced as of his death, payments to the
                              contingent annuitant will be distributed over the
                              life of the contingent annuitant commencing no
                              later than one year after the date of the
                              Participant's death, or, in the case of a
                              surviving Spouse being the Beneficiary, no later
                              than the date the Participant would have attained
                              age 70-1/2.

                        (iii) Level Income Option (Option (3)). A monthly
                              Retirement Benefit payable to the Participant for
                              the remainder of his lifetime with a

                                      -43-
<PAGE>

                              larger monthly amount being payable from his Early
                              Retirement Date to the date on which his benefits
                              commence under the Social Security Act and a
                              smaller monthly amount payable thereafter, the
                              intention being to provide the Participant, as
                              nearly as may be determined, with a level monthly
                              retirement income for the remainder of his
                              lifetime from both this Plan and Social Security.

                  (b)   Lump-Sum Options. Notwithstanding the provisions of
                        Section 4.9(a), the Participant may elect one of the
                        following methods of settlement:

                        (i)   A lump-sum distribution no later than the end of
                              the Plan Year in which the Participant attains his
                              Normal Retirement Age or his Early Retirement Age
                              or his Deferred Vested Retirement Age or his Full
                              Career Retirement Age if the Participant requests
                              in writing at least 15 days prior to attaining the
                              applicable age a lump-sum distribution of the
                              monthly retirement benefit for which he is
                              eligible under the Plan. The amount of such
                              lump-sum distribution shall be the Actuarial
                              Equivalent, as of his Retirement Date, of the
                              monthly Retirement Benefit to which he would
                              otherwise be entitled.

                        (ii)  Any other provisions of the Plan notwithstanding,
                              if a vested Retirement Benefit hereunder is the
                              Actuarial Equivalent of less than a Normal
                              Retirement Benefit of $100 per month then such
                              Retirement Benefit shall be paid in a single sum
                              Actuarial Equivalent payment; provided, however,
                              that if the present value of

                                      -44-
<PAGE>

                              such Retirement Benefit exceeds $3,500 ($5,000 for
                              Plan Years beginning on or after January 1, 1998),
                              such Retirement Benefit shall not be paid a
                              lump-sum payment without the written consent of
                              the Participant and the Participant's Spouse, if
                              any, or, if the Participant is deceased, the
                              written consent of the Participant's Spouse.

Section 4.10.     Rules Regarding Options.

                  (a)   A Participant may elect any one of the above Options in
                        Section 4.9 or cancel a previous election at any time up
                        to 90 days prior to his retirement but not after his
                        Retirement Date by filing a written notice with the
                        Committee in accordance with its rules.

                  (b)   If the designated contingent annuitant of a Participant
                        who has elected Option (2) dies prior to the date on
                        which the Participant's benefits hereunder are to
                        commence, his election of Option (2) shall automatically
                        be deemed canceled by such death.

Section 4.11.     Vested Benefits.

                  In general, a Participant has a nonforfeitable interest in his
                  Basic Pension to the extent of his vested percentage set forth
                  in the table below (or such percentage, if greater, that such
                  participant was entitled to under the Plan as it existed on
                  December 31, 1974). If a Participant has a Break In Service
                  (who does not again become an Employee within one year of such
                  Break In Service) and such Participant is not eligible for, or
                  if eligible, does not elect to take, the benefits provided
                  under Sections 4.l to 4.4 and Section 4.6 hereof (or an
                  optional

                                      -45-
<PAGE>

                  settlement under Section 4.9), such Participant shall
                  nevertheless have a vested interest equal to the percentage of
                  his Basic Pension set forth in the table below (or such
                  percentage, if greater, that such Participant was entitled to
                  under the Plan as it existed on December 3l, 1974) opposite
                  the Participant's years of Continuous Service coincident with
                  or immediately preceding his Break In Service.

<TABLE>
<CAPTION>
                                Years of
                           Continuous Service         Percent Vested
                           ------------------         --------------
<S>                                                   <C>
                                 0-4                       0%
                                   5                     100%
</TABLE>

                  Such vested interest shall be payable to such Participant in
                  the form of a Basic Pension as provided in Section 4.l hereof,
                  commencing on his Normal Retirement Date or, if the
                  Participant so elects, as a Deferred Vested Retirement Benefit
                  as provided in Section 4.5. If the present actuarial value of
                  the vested interest of a Participant who incurs a Break In
                  Service due to his termination of employment is less than
                  $3,500 ($5,000 for Plan Years beginning on or after January 1,
                  1998), the Actuarial Equivalent of such Basic Pension shall be
                  paid to Participant in a lump sum within one year after such
                  Break In Service. Except as provided in the preceding
                  sentence, a lump-sum distribution may not be made after the
                  Participant's Retirement Date, regardless of the Actuarial
                  Equivalent of the Participant's Basic Pension, unless either
                  (a) the distribution is consented to in writing by the
                  Participant and the Participant's Spouse, if any, or if the
                  Participant is deceased, by the surviving Spouse, or (b) if
                  the Participant has attained his Normal Retirement Age or his
                  Deferred Vested Retirement Age, a lump-sum

                                      -46-
<PAGE>

                  distribution may be made without the consent of the
                  Participant and the Participant's Spouse, if the lump-sum
                  distribution is in the amount of the present value of the
                  automatic joint and survivor annuity benefit provided for in
                  Section 4.7 or the preretirement surviving Spouse's benefit
                  provided for in Section 5.1(b). For purposes of subsection (b)
                  of the preceding sentence of this Section 4.11, such a
                  lump-sum distribution may only be made to a Participant who
                  has attained his Normal Retirement Age or his Deferred Vested
                  Retirement Age before the Participant has begun receiving his
                  Normal Retirement Benefit or Deferred Vested Retirement
                  Benefit. Notwithstanding any other provision of the Plan to
                  the contrary, if a Participant who had received a lump-sum
                  distribution of his entire nonforfeitable accrued benefit is
                  subsequently reemployed as an Employee, his Continuous Service
                  as of his most recent termination from Service date shall be
                  disregarded hereunder unless he shall repay the amount of such
                  distribution on or before the fifth anniversary of his
                  reemployment date following the termination from Service date
                  as of which such nonforfeitable accrued benefit was previously
                  determined. For any Participant whose vested percentage is
                  zero as of the date of termination of his Continuous Service,
                  such Participant shall be deemed to have received a
                  distribution of his entire interest under the Plan and the
                  non-vested portion of his benefit shall be treated as an
                  immediate forfeiture as of the date he incurs a Break in
                  Service following his termination of Continuous Service.

Section 4.12.     Suspension of Benefit Rules. If a Participant resumes
                  employment with an Employer or Affiliated Company prior to the
                  attainment of Normal Retirement

                                      -47-
<PAGE>

                  Age, payment of his Retirement Benefit shall cease upon the
                  first day of the month following the later of:

                  (a)   the date he completes at least 40 Hours of Service
                        during a calendar month; or

                  (b)   the date on which he completes one Hour of Service on
                        each of eight separate days;

                  provided, however, that no payment may be withheld unless the
                  Retirement Plan Committee notifies the Participant of (i) such
                  suspension before the first month in which a payment is to be
                  suspended, and (ii) his right to obtain a review of such
                  suspension under the procedure specified in Section 7.8 of the
                  Plan. On his subsequent termination of employment, his
                  Retirement Benefit shall be reduced by the Actuarial
                  Equivalent of the payments previously paid, but the resulting
                  Pension shall not be less than the Pension that was payable
                  prior to the suspension of payments pursuant to this Section
                  4.12.

Section 4.13.     Designation of Beneficiary. Any person entitled to benefits
                  under the Plan may designate a Beneficiary or Beneficiaries,
                  including contingent or successive Beneficiaries, to receive
                  any payments due under the terms of the Plan on account of the
                  death of such person (except as otherwise provided in Sections
                  4.7 and 5.l hereof). The right to designate a Beneficiary or
                  to change a prior designation shall continue so long as such
                  person is living and entitled to benefits under this Plan. If
                  any person entitled to benefits under this Plan fails to
                  designate a Beneficiary, or if his designated Beneficiary
                  predeceases him, all amounts payable to such person's
                  Beneficiary under the provisions of this Plan shall be paid
                  either in a

                                      -48-
<PAGE>

                  lump sum or in installments to such Beneficiary or
                  Beneficiaries determined as follows: the Participant's (a)
                  widow or widower; (b) surviving children; (c) surviving
                  grandchildren; (d) surviving parents; (e) surviving brothers
                  and sisters; or (f) executors or administrators. Any
                  determination or direction made by the Committee in good faith
                  as to the rights or identity of any Beneficiary shall be
                  conclusive on all persons, and neither an Employer, the
                  Committee, nor an Employer's officers or employees shall be
                  liable to any person on account of any error in such decision
                  or determination. Any payment made in accordance with this
                  Section shall fully acquit and discharge the Committee, each
                  Employer, the Trustee, their officers and employees from all
                  future liability with respect to the amount so paid. A
                  distribution of Plan benefits under this Section 4.13 shall be
                  made in accordance with the minimum required distribution
                  rules of Code Section 401(a)(9), including the minimum
                  distribution incidental benefit requirements of Treasury
                  Regulation Section 1.401(a)(9)-2.

Section 4.14.     Direct Rollovers. 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 Committee, to have
                  any portion of an Eligible Rollover Distribution paid directly
                  to an Eligible Retirement Plan specified by the Distributee in
                  a Direct Rollover.

                  (a)   Eligible Rollover Distribution. An Eligible Rollover
                        Distribution is any distribution of all or any portion
                        of the balance to the credit of the Distributee, except
                        that an Eligible Rollover Distribution does not include:
                        any distribution that is one of a series of
                        substantially equal periodic

                                      -49-
<PAGE>

                        payments (not less frequently than annually) made for
                        the life (or life expectancy) of the Distributee or the
                        joint lives (or joint life expectancies) of the
                        Distributee and the Distributee's designated
                        Beneficiary, or for a specified period of ten years or
                        more; any distribution to the extent such distribution
                        is required under Section 401(a)(9) of the Code; the
                        portion of any distribution that is not includible in
                        gross income (determined without regard to the exclusion
                        for net unrealized appreciation with respect to Employer
                        securities); and, with respect to distributions made on
                        or after January 1, 1999, any distribution made from a
                        tax-qualified retirement plan on account of financial
                        hardship.

                  (b)   Eligible Retirement Plan. An Eligible Retirement Plan is
                        an individual retirement account described in Section
                        408(a) of the Code, an individual retirement annuity
                        described in Section 408(b) of the Code, an annuity plan
                        described in Section 403(a) of the Code, or a qualified
                        trust described in Section 401(a) of the Code, that
                        accepts the Distributee's Eligible Rollover
                        Distribution. Additionally, with respect to
                        distributions made after December 31, 2001, the term
                        Eligible Retirement Plan shall also include a plan
                        described in Code Section 403(b) and a plan described in
                        Code Section 457(b). Notwithstanding the foregoing, with
                        respect to distributions made on or before December 31,
                        2001, 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.

                                      -50-
<PAGE>

                  (c)   Distributee. 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 Section 414(p) of the Code, are Distributees
                        with regard to the interest of the Spouse or former
                        Spouse.

                  (d)   Direct Rollover. A Direct Rollover is a payment by the
                        Plan to the Eligible Retirement Plan specified by the
                        Distributee.

                           ARTICLE V. Death Benefits

Section 5.1.      Death Benefit.

                  (a)   Except where subparagraph (b) of this Section is
                        applicable, in the event of the death of a Participant
                        prior to retirement, a death benefit equal to the
                        Actuarial Equivalent of the vested portion of such
                        Participant's Basic Pension, if any, shall be payable,
                        either in a lump sum, or in installments, as provided in
                        section 4.13, as of the Participant's date of death, and
                        as soon as practicable thereafter.

                  (b)   If a vested Participant who has a Spouse dies before
                        benefits have commenced, then the Participant's benefit
                        shall be paid to his surviving Spouse in the form of a
                        Qualified Preretirement Survivor Annuity, unless the
                        Participant waives the application of this paragraph (b)
                        within the Election Period.

                        (i)   Election Period. With respect to an election under
                              this Section 5.1(b), the Election Period is the
                              period which begins on the first

                                      -51-
<PAGE>

                              day of the Plan Year in which the Participant
                              attains age 35 and ends on the date of the
                              Participant's death. If a Participant's Severance
                              from Service Date is prior to the first day of the
                              Plan Year in which age 35 is attained, with
                              respect to Participant's accrued benefits as of
                              the date of separation, the Election Period shall
                              begin on the date of separation.

                        (ii)  Notice Requirements. The Plan Administrator shall
                              provide each Participant within the period
                              beginning on the first day of the Plan Year in
                              which the Participant attains age 32 and ending
                              with the close of the Plan Year in which the
                              Participant attains age 35, a written explanation
                              of the Qualified Preretirement Survivor Annuity in
                              such terms and in such manner as would be
                              comparable to the explanation of the Qualified
                              Joint and Survivor Annuity set forth in Section
                              4.7. If a Participant enters the Plan after the
                              first day of the Plan Year in which the
                              Participant attained age 32, the Plan
                              Administrator shall provide notice no later than
                              the close of the second Plan Year succeeding the
                              entry of the Participant into the Plan.

                        (iii) A Participant may, during the Election Period,
                              reject a Qualified Preretirement Survivor Annuity
                              for his Spouse by making a specific written
                              rejection of such automatic election on a form
                              provided by the Committee, by having the
                              Participant's Spouse consent to such rejection in
                              writing and acknowledge the effect

                                      -52-
<PAGE>

                              thereof, by having the Spouse's consent notarized,
                              and by filing the form with the Committee. If no
                              consent is given by the Spouse, rejection of the
                              automatic election may be accomplished without
                              such consent if it is established to the
                              satisfaction of the Committee that the consent
                              cannot be obtained because there is no Spouse, the
                              Spouse cannot be located or other reasons exist as
                              specified in regulations prescribed by the
                              Secretary of the Treasury. If a Participant who
                              has vested Retirement Benefits and who has not
                              rejected the Qualified Preretirement Survivor
                              Annuity dies leaving a Spouse, such Spouse shall
                              be eligible for a Qualified Preretirement Survivor
                              Annuity. A Participant may reject or revoke a
                              rejection of the Qualified Preretirement Survivor
                              Annuity pursuant to this paragraph in writing at
                              any time prior to the first to occur of the
                              Participant's Retirement Date or his death.

                        (iv)  Qualified Preretirement Survivor Annuity. The
                              Qualified Preretirement Survivor Annuity, in the
                              case of a Participant who dies after attaining age
                              55, shall be equal to the amount that would have
                              been payable as a joint and survivor annuity under
                              Section 4.7 had the Participant retired on the day
                              immediately preceding the date of his death. The
                              amount of such benefit, in the case of a
                              Participant who dies before attaining age 55,
                              shall be equal to the amount that would have been
                              payable as a joint and survivor annuity under
                              Section 4.7 had the Participant retired on the
                              date of

                                      -53-
<PAGE>

                              his death, survived to age 55 and died on the day
                              after the day the Participant would have attained
                              age 55.

                  (c)   In the event of the death after retirement of a
                        Participant the Basic Pension of such Participant under
                        the Plan will terminate unless an optional benefit, as
                        provided for in Section 4.7 and 4.9 hereof, was elected.

                     ARTICLE VI. Nonalienation of Benefits

Section 6.1.      Nonalienation. Subject to the following sentence, the Trust
                  Fund shall not in any manner be liable for or subject to the
                  debts or liabilities of any Participant. Except to the extent
                  to which Participants are permitted by the provisions of the
                  Plan to designate a beneficiary or beneficiaries to receive
                  payments under the Plan, and except as to the payment of
                  benefits to the extent necessary to comply with any judgment,
                  decree or other order which the Committee determines is a
                  "qualified domestic relations order" as defined in Section
                  414(p)(1)(B) of the Code, no Retirement Benefit or other
                  benefit at any time payable from the Trust Fund shall be
                  subject in any manner to alienation, sale, transfer,
                  assignment, pledge or encumbrance of any kind. The Committee
                  will adopt rules for determining whether any judgment, decree
                  or order received by the Plan is a "qualified domestic
                  relations order" and for administering payments under any such
                  order.

                          ARTICLE VII. Administration

Section 7.1.      Plan Administrator and Fiduciary. The Plan shall be
                  administered by a Retirement Plan Committee composed of not
                  less than three nor more than seven individuals appointed by
                  the Board of Directors who shall hold office at the pleasure
                  of the Board. Any member of the Committee may resign by
                  delivering

                                      -54-
<PAGE>

                  his written resignation to the Board. Vacancies in the
                  Committee arising by resignation, death, removal or otherwise,
                  shall be filled by the Board. The Committee shall be the
                  administrator of the Plan and the Committee shall be a
                  fiduciary under the Plan and under the Trust Fund, as a named
                  fiduciary in accordance with ERISA. A member of the Committee
                  may not participate in the decision of any question as to his
                  own rights as a Participant.

Section 7.2.      Compensation and Expenses. Members of the Committee shall
                  serve as such without compensation. All expenses of the
                  Committee shall be paid by the Employer. Such expenses shall
                  include any expenses incident to the functioning of the
                  Committee, including, but not limited to, fees of actuaries,
                  accountants, counsel and other specialists and other costs of
                  administering the Plan.

Section 7.3.      Manner of Action. A majority of the members of the Committee
                  at the time in office shall constitute a quorum for the
                  transaction of business. All resolutions adopted, and other
                  actions taken by the Committee at any meeting shall be by the
                  vote of a majority of those present at any such meeting. Upon
                  concurrence in writing of a majority of the members at the
                  time in office, action of the Committee may be taken otherwise
                  than at a meeting.

Section 7.4.      Chairman, Secretary and Employment of Specialists. The members
                  of the Committee shall elect one of their number as Chairman
                  and shall elect a Secretary who may, but need not, be a member
                  of the Committee. They may appoint from their number such
                  committees with such powers as they shall determine, may
                  authorize one or more of their number or any agent to execute
                  or deliver any instrument or instruments in their behalf, and
                  may employ at the Employer's

                                      -55-
<PAGE>

                  expense such counsel, auditors and other specialists and such
                  clerical, medical, actuarial and other services as they may
                  require in carrying out the provisions of the Plan. To the
                  extent permitted by law, the members of the Committee shall be
                  fully protected in any action taken in good faith and in
                  relying upon any opinions or reports which shall be furnished
                  the Committee by any actuary, accountant, counsel or other
                  specialist.

Section 7.5.      Records . All resolutions, proceedings, acts and
                  determinations of the Committee shall be recorded by the
                  Secretary thereof or under his supervision, and all such
                  records, together with such documents and instruments as may
                  be necessary for the administration of the Plan, shall be
                  preserved in the custody of the Secretary.

Section 7.6.      Rules. Subject to the limitations contained in the Plan, the
                  Committee shall be empowered from time to time in its
                  discretion to adopt by-laws and establish rules for the
                  conduct of its affairs and the exercise of the duties imposed
                  upon it under the Plan.

Section 7.7.      Administration. The Committee shall be responsible for the
                  administration of the Plan. The Committee shall have all such
                  powers as may be necessary to carry out the provisions hereof
                  and may, from time to time, establish rules for the
                  administration of the Plan and the transaction of the Plan's
                  business. The Committee shall have the exclusive right to make
                  any finding of fact necessary or appropriate for any purpose
                  under the Plan including but not limited to the determination
                  of the eligibility for and the amount of any benefit payable
                  under the Plan. The Committee shall have the exclusive right
                  to interpret the terms and provisions of the Plan and to
                  determine any and all questions arising under the

                                      -56-
<PAGE>

                  Plan or in connection with the administration thereof,
                  including, without limitation, the right to remedy or resolve
                  possible ambiguities, inconsistencies or omissions, by general
                  rule or particular decision. In addition, effective January 1,
                  1999, the Committee shall have the right to amend the Plan
                  provided that no amendment adopted by the Committee may have
                  the effect of:

                  (a)   altering the eligibility requirements to become a
                        Participant, or the date an Employee becomes a
                        Participant;

                  (b)   changing the calculation of a Participant's Retirement
                        Benefit;

                  (c)   changing the eligibility requirements for any Retirement
                        Benefit;

                  (d)   altering the Committee's duties and powers under Article
                        VII; or

                  (e)   modifying Section 8.3 or Article IX;

                  provided, however, that an amendment adopted by the Committee
                  may have an effect described in (a) - (e) above, but only to
                  the extent that:

                  (a)   it is made at the direction of the Board of Directors;

                  (b)   it is of a technical nature and its effect is, in the
                        Committee's judgment, de minimus; or

                  (c)   the Committee has been advised in writing by legal
                        counsel that the amendment is necessary to retain the
                        Plan's tax-qualified status or to satisfy some other
                        substantive legal requirement.

                  All findings of fact, determinations, interpretations and
                  decisions of the Committee shall be conclusive and binding
                  upon all persons having or claiming to have any interest or
                  right under the Plan.

                                      -57-
<PAGE>

Section 7.8.      Claims Review; Appeals . For Plan Years before January 1,
                  2002, if any claim for benefits under the Plan is wholly or
                  partially denied, the Committee shall give notice in writing,
                  within a reasonable period of time after receipt of the claim
                  by the Plan (but no later than 90 days after receipt of the
                  claim), by registered or certified mail, of such denial to the
                  Participant or beneficiary, written in a manner calculated to
                  be understood by the claimant, setting forth the specific
                  reasons for such denial, specific reference to pertinent Plan
                  provisions on which the denial is based, a description of any
                  additional material or information necessary for the claimant
                  to perfect the claim and an explanation of why such material
                  or information is necessary, and an explanation of the Plan's
                  claim review procedure. The Committee shall also advise him
                  that he or his duly authorized representative may request a
                  review by the Committee of the decision denying the claim by
                  filing with the Committee, within 60 days after such notice
                  has been received by the claimant, a written request for such
                  review, and that he may review pertinent documents, and submit
                  issues and comments in writing within the same 60 day period.
                  If such request is so filed, such review shall be made by the
                  Committee within 60 days after receipt of such request (or 120
                  days, if special circumstances apply); and the Participant or
                  beneficiary shall be given written notice of the decision
                  resulting from such review, and shall include specific reasons
                  for the decision, written in a manner calculated to be
                  understood by the claimant, and specific references to the
                  pertinent Plan provisions on which the decision is based.

                                      -58-
<PAGE>

                  Notwithstanding the foregoing, if any applicant makes a claim
                  for benefits under the Plan on or after January 1, 2002, and
                  the claim is wholly or partially denied, the following
                  procedures will apply:

                  (a)   (i)   The Committee will give the applicant written or
                              electronic notice of the adverse benefit
                              determination within a reasonable period of time,
                              but no later than 90 days after receipt of the
                              claim. This notice will be written in a manner
                              calculated to be understood by the applicant and
                              will include the specific reasons for the adverse
                              benefit determination and specific references to
                              any facts or any provisions of the Plan on which
                              the adverse determination is based. If an adverse
                              benefit determination was rendered because
                              specific material or information was not provided
                              to the Committee, the notice will include a
                              description of the additional material or
                              information which the applicant must provide in
                              connection with the claim, along with an
                              explanation of why such material or information is
                              necessary. The notice will also provide an
                              explanation of the Plan's claims appeal procedure
                              and the time limits applicable to such procedures,
                              including a statement of the applicant's right to
                              bring a civil action under Section 502(a) of ERISA
                              following an adverse benefit determination, as set
                              out in paragraph (b) below. If the Committee
                              determines that an extension of time is necessary
                              for processing the claim, the Committee or its
                              delegate shall notify the applicant in writing of
                              such extension, the special circumstances
                              requiring the

                                      -59-
<PAGE>

                              extension, and the date by which the Committee
                              expects to render the benefit determination. In no
                              event shall the extension exceed a period of 90
                              days from the end of the initial 90 day period. If
                              notice of the adverse benefit determination is not
                              furnished in accordance with this Section within
                              90 days after the Committee or its duly authorized
                              delegate receives it (or within 180 days after
                              such receipt if the Committee or its delegate
                              determines an extension is necessary), the claim
                              shall be deemed denied and the applicant shall be
                              permitted to proceed to the review state described
                              below.

                        (ii)  If the applicant's claim involves a determination
                              of Disability, then the procedures in subparagraph
                              (i) will be modified as described in this
                              subparagraph. The 90-day period for response to
                              the claim will be a 45-day period. That 45-day
                              period may be extended by the Plan Administrator
                              for up to 30 days, provided that the Plan
                              Administrator both determines that such an
                              extension is necessary due to matters beyond its
                              control and notifies the applicant, prior to the
                              expiration of the initial 45-day period, of the
                              circumstances requiring the extension of time and
                              the date by which the Plan Administrator expects
                              to made a decision. If, prior to the end of the
                              first 30-day extension period, the Plan
                              Administrator determines that, due to matters
                              beyond its control, a decision cannot be made
                              within that extension period, the period for
                              making the determination may be extended for up to
                              30 more days, provided that the Plan

                                      -60-
<PAGE>

                              Administrator notifies the applicant, prior to the
                              expiration of the first 30-day extension period,
                              of the circumstances requiring the extension and
                              the date as of which the Plan Administrator
                              expects to make a decision. In the case of any
                              extension, the notice of extension will
                              specifically explain the standards on which
                              entitlement to a benefit is based, the unresolved
                              issues that prevent a decision on the claim, and
                              the additional information needed to resolve those
                              issues, and that the applicant will be afforded at
                              least 45 days within which to provide the
                              specified information.

                  (b)   (i)   An applicant who wishes to use the Plan's claim
                              appeal procedure must, within 60 days of receiving
                              the Committee's notice of the adverse benefit
                              determination or within 60 days of the date on
                              which the claim is deemed denied pursuant to
                              subsection (a) above, or such later time as shall
                              be deemed reasonable in the sole discretion of the
                              Committee after taking into account the nature of
                              the benefit subject to the claim and other
                              attendant circumstances, notify the Committee in
                              writing that he/she wishes the Committee to
                              conduct a full and fair review of the adverse
                              benefit determination, including the holding of a
                              hearing, if deemed necessary by the Committee. In
                              connection with the applicant's appeal of the
                              adverse benefit determination, the applicant may
                              review all relevant documents relating to his/her
                              claim and submit issues and comments in writing.
                              The Committee will review the record of the appeal
                              of the adverse benefit determination

                                      -61-
<PAGE>

                              and prepare its decision. The Committee will give
                              the applicant notice of the decision on the appeal
                              within 60 days after receipt of the applicant's
                              request for review, unless special circumstances
                              require an extension of time for processing, but
                              notice will in any event be given within 120 days
                              after receipt of the applicant's notice of appeal.
                              The Committee shall notify the applicant in
                              writing of any such extension, the special
                              circumstances requiring an extension, and the date
                              by which the Committee expects to render the
                              determination on review. The applicant shall be
                              notified of the Committee's decision in writing or
                              electronically. In the case of an adverse benefit
                              determination, such notice will be written in a
                              manner calculated to be understood by the
                              applicant and will include the specific reasons
                              for the denial and specific references to any
                              facts or any provisions of the Plan on which the
                              denial on appeal is based. In addition, such
                              notice shall contain a statement that the
                              applicant is entitled to receive upon request and
                              free of charge, reasonable access to, and copies
                              of, all documents, records, and other information
                              relevant to the applicant's claim for benefits,
                              and contain a statement of the applicant's right
                              to bring an action under Section 502(a) of ERISA.

                        (ii)  If the applicant's claim involves a determination
                              of Disability, then the procedures in subparagraph
                              (i) will be modified as described in this
                              subparagraph. The 60-day period to make an appeal
                              in

                                      -62-
<PAGE>

                              paragraph (c) is extended to 180 days. Any 60-day
                              period (initial or extended) described in
                              paragraph (e) will be a 45-day period. In
                              addition, the appeal procedure must, to the extent
                              relevant, comply with paragraphs (h)(3)(ii)
                              through (v) of Department of Labor Regulations
                              Section 2560.503-1.

                        (iii) The Committee may adopt additional rules for
                              implementing this Section as are consistent with
                              Department of Labor Regulations Section
                              2560.503-1.

Section 7.9.      Notice of Address. Each person entitled to benefits from the
                  Trust Fund must file with the Committee, in writing, his post
                  office address and each change of post office address. Any
                  communication, statement or notice addressed to such a person
                  at his latest reported post office address will be binding
                  upon him for all purposes of the Plan and neither the
                  Committee nor an Employer or Trustee shall be obliged to
                  search for, or ascertain his whereabouts.

Section 7.10.     Data. All persons entitled to benefits from the Plan must
                  furnish to the Committee such documents, evidence or
                  information as the Committee considers necessary or desirable
                  for the purpose of administering the Plan; and each such
                  person must furnish such information and sign such documents
                  as the Committee may reasonably require.

Section 7.11.     Individual Liability. To the extent permitted by law, it is
                  declared to be the express purpose and intention of the Plan
                  that no liability whatever shall attach to or be incurred by
                  the Committee, stockholders, officers or directors of an

                                      -63-
<PAGE>

                  Employer or any representatives appointed hereunder by an
                  Employer, under or by reason of any of the terms or conditions
                  of the Plan.

Section 7.12.     Facility of Payment. If the Committee shall determine that any
                  person to whom benefits are payable is unable to care for his
                  affairs because of illness, accident or other incapacity, any
                  payment due from the Plan (unless prior claim therefor shall
                  have been made by a duly qualified guardian, administrator or
                  other legal representative) may be paid to his spouse, parent,
                  brother or sister, or any other person as the Committee may
                  determine. Any such payment shall be a payment for the account
                  of such person entitled thereto and shall, to the extent
                  thereof, be a complete discharge of any liability of the Plan
                  to such person.

Section 7.13.     No Enlargement of Employee Rights. Nothing contained in the
                  Plan shall be deemed to give any Employee or Participant the
                  right to be retained in the service of an Employer or to
                  interfere with the right of an Employer to discharge or retire
                  any Employee or Participant at any time.

                            ARTICLE VIII. Financing

Section 8.1.      Funding. A Trustee shall be designated by the Company, and a
                  Trust Agreement executed between the Company and the Trustee,
                  and an insurance company may be designated by the Company and
                  an insurance contract executed between the Company and the
                  insurance company, under the terms of which a retirement fund
                  shall be established to receive and hold contributions payable
                  by the Employer, interest and other income, and to pay the
                  benefits provided by the Plan. Any Trust Agreement or
                  insurance contract entered into shall be deemed to form a part
                  of the Plan and any and all rights and benefits which may
                  accrue to any person under the

                                      -64-
<PAGE>

                  Plan shall be subject to all the terms and provisions of any
                  such Trust Agreement or insurance contract. The Company may
                  modify any Trust Agreement or insurance contract from time to
                  time to accomplish the purpose of the Plan and may replace any
                  insurance company or appoint a successor Trustee or Trustees.

Section 8.2.      Company Contributions. The Company shall make contributions to
                  the Trust Fund in an amount, determined by an actuary selected
                  by the Committee, to be required under accepted actuarial
                  principles to at least meet the minimum funding standard
                  requirements of the Code. Forfeitures arising under the Plan
                  for any reason shall be used as soon as possible to reduce
                  Employer contributions under the Plan. Except as provided in
                  Title IV of ERISA, all benefits under the Plan shall be
                  payable only from the Trust Fund and no liability for the
                  payment of benefits under the Plan shall be imposed upon the
                  Employer, Committee or officers, directors or shareholders of
                  the Employer.

Section 8.3.      Nonreversion. Except as provided in this section, no Employer
                  shall not have any right, title or interest in the
                  contributions made by it under the Plan and no part of the
                  Trust Fund shall revert to an Employer or for an Employer's
                  benefit, except that:

                  (a)   Upon termination of the Plan and the allocation and
                        distribution of the Trust Fund as provided herein, any
                        funds remaining in the Trust Fund with respect to an
                        Employer because of an erroneous actuarial computation
                        after the satisfaction of all fixed and contingent
                        liabilities under the Plan may revert to that Employer.

                                      -65-
<PAGE>

                  (b)   If a contribution is made to the Trust Fund by an
                        Employer by a mistake of fact, then such contribution
                        shall be returned to that Employer within one year after
                        the payment of the contribution; and if any part or all
                        of a contribution is disallowed as a deduction under
                        Section 404 of the Code with respect to an Employer,
                        then to the extent a contribution is disallowed as a
                        deduction it may be returned to that Employer within one
                        year after the disallowance. Contributions made to the
                        Trust Fund by an Employer shall be conditioned upon
                        deductibility.

                     ARTICLE IX. Amendment and Termination

Section 9.1.      Amendment and Termination. The Company expects the Plan to be
                  permanent and continue indefinitely, but since future
                  conditions affecting the Company cannot be anticipated or
                  foreseen, the Company must necessarily and does hereby reserve
                  the right to amend, modify or terminate the Plan at any time
                  by action of its Board of Directors and the right to amend the
                  Plan at any time by action of the Committee, as permitted
                  under Section 7.7. The Company may make any modifications or
                  amendments to the Plan that are necessary or appropriate to
                  qualify or maintain the Plan and related Trust as a plan and
                  trust meeting, respectively, the requirements of Sections
                  40l(a) and 501(a) of the Code or any other applicable
                  provisions of the Code or the regulations issued thereunder.
                  No amendment of the Plan shall cause any part of the Trust
                  Fund to be used for, or diverted to purposes other than for
                  the exclusive benefit of the Participants or their
                  Beneficiaries covered by the Plan. Notwithstanding anything in
                  this Plan to the

                                      -66-
<PAGE>

                  contrary, a Participant's accrued benefits may not be
                  decreased by an amendment of the Plan, other than an amendment
                  described in Section 4l2(c)(8) of the Code.

Section 9.2.      Distribution on Termination. Upon termination of the Plan or
                  upon termination of the Plan with respect to a group of
                  Participants which constitutes a partial termination of the
                  Plan, that portion of any assets then held in the Trust Fund
                  with respect to the affected Participants shall be allocated
                  after payment of all expenses of administration or
                  liquidation, among the affected Participants, for the
                  following purposes and in the following manner and order, to
                  the extent of the sufficiency of such assets:

                  (a)   First, to provide all or that part of his benefit under
                        Article IV or Article V hereof for each Participant (or
                        his Spouse or Beneficiaries) who either:

                        (i)   Has begun to receive benefit payments at the date
                              which is three years prior to the date of
                              termination of the Plan, or

                        (ii)  Could have begun to receive benefit payments at
                              the date which is three years prior to the date of
                              termination of the Plan if the Participant would
                              have been eligible to retire under Section 4.l,
                              4.2, 4.3, 4.4 or 4.6 prior thereto and begin to
                              receive benefit payments three years prior to the
                              date of termination of the Plan, which is equal to
                              the smallest benefit (he was receiving or could
                              have received) which would be provided for such
                              person under the Plan based on its provisions as
                              in effect during the five-year period ending on
                              the date of termination of the Plan; and for this
                              purpose the lowest benefit payment received under
                              (i) above during the

                                      -67-
<PAGE>

                              three years prior to the date of termination of
                              the Plan shall be considered to be the benefit he
                              was receiving at the date which is three years
                              prior to termination of the Plan. Allocation shall
                              be made on a pro-rata basis based on the then
                              present value of the benefits under this paragraph
                              (a), if assets are not sufficient to provide such
                              benefits in full.

                  (b)   Second, if any assets remain, to provide all or that
                        part of his remaining (after (a) above) benefit under
                        Articles IV or V hereof which is guaranteed under
                        Section 4022 of ERISA for each remaining Participant (or
                        his Spouse or Beneficiaries) who does not qualify under
                        (a) (ii) above but who either:

                        (i)   Has begun to receive benefit payments later than
                              three years prior to the date of termination of
                              the Plan, or

                        (ii)  Could have begun to receive benefit payments at
                              the date of termination of the Plan if the
                              Participant would have been eligible to retire
                              under Section 4.l, 4.2, 4.3, 4.4 or 4.6 at the
                              date of termination of the Plan and be eligible to
                              receive benefit payments thereunder, or

                        (iii) Had attained his Vested Retirement Age at the date
                              of termination of the Plan and would have been
                              eligible to terminate Continuous Service at the
                              date of termination of the Plan and be eligible to
                              receive Deferred Vested Retirement Benefit
                              payments under Section 4.5 of the Plan, which is
                              equal to the smallest benefit

                                      -68-
<PAGE>

                              which would be provided for such person under the
                              Plan based on its provisions as in effect during
                              the five-year period ending on the date of
                              termination of the Plan. Allocation shall be made
                              on a pro-rata basis based on the then present
                              value of the benefits under this paragraph (b) if
                              assets are not sufficient to provide such benefits
                              in full.

                  (c)   Third, if any assets remain, to provide that part, if
                        any, of his benefit under Article IV or Article V hereof
                        for each Participant (or his Spouse or Beneficiaries)
                        described in (a) and (b) above, which is not provided
                        for under (a) or (b) above, in the following order of
                        priority if such remaining assets are not sufficient to
                        provide all of such part of such benefits for all such
                        persons:

                        (i)   To provide such part of the benefits which would
                              be provided for such person under the Plan based
                              on its provisions as in effect at the beginning of
                              the five-year period ending on the date of
                              termination of the Plan; and on a pro-rata basis
                              based on the then present value of such benefits
                              under this paragraph (i) if such assets are not
                              sufficient to provide such benefits described in
                              this paragraph (i) in full; provided, however, if
                              such assets are more than sufficient to provide
                              such benefits described in this paragraph (i) in
                              full then the assets available under this
                              paragraph (c) shall be allocated as provided in
                              (ii) below.

                                      -69-
<PAGE>

                        (ii)  To provide such part of the benefits which would
                              be provided for such persons under the Plan based
                              on its provisions as in effect as amended by the
                              most recent Plan amendment effective during the
                              five-year period ending on the date of termination
                              of the Plan under which the assets under this
                              paragraph (c) are sufficient to provide such
                              benefits in full; and with any assets remaining
                              thereafter to be allocated to provide such part of
                              the benefits which would be provided for such
                              persons under the Plan based on its provisions as
                              in effect as amended by each next succeeding Plan
                              amendment effective during such five-year period.

                  (d)   Fourth, if any assets remain, to provide all other
                        benefits under Article IV or Article V hereof for each
                        Participant which are not provided for above, accrued to
                        the date of termination of the Plan, and in the order of
                        priority described in (c) (i) and (ii) above if assets
                        are not sufficient to provide such benefits in full.

                  (e)   If any assets remain, they may revert to an Employer as
                        provided in Section 8.3(a) hereof. The benefits to be
                        provided by the allocations outlined above in this
                        Section 9.2 shall be fully vested and nonforfeitable as
                        of the date of such termination of the Plan for
                        distribution to the persons entitled thereto, and
                        distribution may be implemented through the continuance
                        of the Trust Fund, or the creation of a new retirement
                        fund for that purpose, or by purchase of nontransferable
                        annuity contracts, or by a combination thereof. Provided
                        that no discrimination in value results, an

                                      -70-
<PAGE>

                        Employer may direct that any or all of the benefits to
                        be provided by such allocations may be computed on an
                        actuarial basis and distributed as an Actuarial
                        Equivalent immediate cash payment.

Section 9.3.      Effect of Bankruptcy or Other Contingencies Affecting the
                  Company. In the event the Company is judicially declared
                  bankrupt or insolvent, or in the event of the dissolution or
                  reorganization of the Company or its merger into or
                  consolidation with another company or the sale by the Company
                  of all or substantially all of its assets, without provision
                  for continuing the Plan, the Plan shall be terminated and the
                  funds held in the Plan distributed as provided herein;
                  provided, however, that in any such event whereby a successor
                  person, firm or company, or any purchaser of all or
                  substantially all of the Company's assets shall continue to
                  carry on all or a substantial part of the Company's business,
                  and such successor or such purchaser shall elect to carry on
                  the provisions of the Plan, such successor or purchaser shall
                  be substituted for the Company hereunder upon the filing in
                  writing of its election to do so with the Company.

Section 9.4.      Merger or Consolidation of Plan. In the event of a merger or
                  consolidation with, or transfer of Plan assets or liabilities
                  to, any other plan, each Participant in the Plan shall (if the
                  Plan then terminated) receive a benefit immediately after the
                  merger, consolidation or transfer which is equal to or greater
                  than the benefit he would have been entitled to receive
                  immediately prior to the merger, consolidation or transfer (if
                  the Plan had then terminated).

                                      -71-
<PAGE>

Section 9.5.      Employees of Acquired Businesses.

                  (a)   Applicability. From time to time, as a result of
                        mergers, acquisitions or other corporate transactions,
                        persons will become Employees as defined in Section 2.14
                        of the Plan, because the entities which employ them
                        become Employers as defined in Section 2.15 of the Plan
                        as a result of such transactions. In general, the
                        provisions of the Plan shall be applied to each such
                        Employee as if he first became an Employee on the first
                        date that the entity which employs him meets the
                        definition of Employer. However, the Committee may,
                        pursuant to this Section 9.5, provide special rules for
                        the application of the provisions of the Plan to persons
                        who become Employees as a result of mergers,
                        acquisitions or other corporate transactions.

                  (b)   Schedules. With respect to any group of Employees who
                        become Employees as a result of a merger, acquisition or
                        other corporate transaction, the Committee may adopt a
                        Schedule which will set forth any special rules with
                        respect to Compensation, eligibility to become a
                        Participant, years of Service or other items which shall
                        be applied to such Employees. Each such Schedule is to
                        be interpreted as a part of the Plan and, to the extent
                        there is any conflict between a Schedule and another
                        provision of the Plan, the Schedule shall control. No
                        Schedule shall, however, be given effect to the extent
                        that it would result in discrimination in contributions
                        or benefits under the Plan in favor of any Highly
                        Compensated Employee, in violation of Code Section
                        401(a)(4).

                                      -72-
<PAGE>

                 ARTICLE X. Temporary Restrictions on Benefits

Section 10.1.     Temporary Restrictions on Benefits for Participants.
                  Notwithstanding any other provisions in the Plan to the
                  contrary, if, after payment of benefits provided under the
                  Plan for a Participant (including subsequently retired
                  Participants) who is among the 25 most Highly Compensated
                  Employees for such year: (a) the value of Plan assets would be
                  less than 110% of the value of the Plan's current liabilities,
                  as defined in Code Section 412(1)(7); (b) the value of the
                  benefits payable to such Participant under the Plan would
                  equal or exceed 1% of the Plan's current liabilities; or (c)
                  the value of the benefits payable to such Participant would
                  exceed the amount described in Code Section 411(a)(11)(A);
                  then, annual distributions to such Participant shall not
                  exceed an amount equal to the payment that would be made under
                  a single life annuity that is the Actuarially Equivalent of
                  the sum of the Participant's Retirement Benefit and other
                  benefits available under the Plan.

                           ARTICLE XI. Applicable Law

Section 11.1.     Applicable Law. The Plan and all rights hereunder shall be
                  governed by and construed according to ERISA and any
                  subsequent amendment thereto and the laws of the State of
                  Illinois, provided that in the case of conflict the provisions
                  of ERISA shall control.

           ARTICLE XII. Adoption and Withdrawal of Affiliated Company

Section 12.1.     Adoption. An Affiliated Company authorized by the Company to
                  adopt the Plan may do so by appropriate action which:

                                      -73-
<PAGE>

                  (a)   Directs that the Affiliated Company becomes a party to
                        the Trust Agreement;

                  (b)   Specifies the date upon which the Plan becomes effective
                        with respect to the Employees of the Affiliated Company;

                  (c)   Prescribes the period, if any, during which an
                        Employee's employment with the Affiliated Company prior
                        to the adoption of the Plan by the Affiliated Company
                        shall be deemed Service for purposes of the Plan.

Section 12.2.     Withdrawal. Any Affiliated Company which has adopted the Plan
                  may at any time withdraw from the Plan upon giving the
                  Committee and the Trustee at least 30 days' notice in writing
                  of its intention to withdraw. Upon the withdrawal of an
                  Affiliated Company, the Committee may cause a segregation of
                  the withdrawing Affiliated Company's proportionate share of
                  the assets of the Trust Fund (as determined by the Committee).
                  The determination of which assets are to be segregated shall
                  be made by the Trustee in its sole discretion. If the
                  withdrawing Affiliated Company adopts another pension plan
                  qualified under Section 40l of the Code, the Committee may
                  direct the transfer of the segregated assets to the funding
                  medium maintained under the Plan. If there is a partial
                  termination of the Plan, as a result of the withdrawal, the
                  termination provisions of the Plan and Trust shall apply.

                    ARTICLE XIII. Top-Heavy Plan Provisions

Section 13.1.     Top-Heavy Provisions. The Retirement Plan Committee shall
                  determine annually as of the Determination Date whether the
                  Plan is a Top-Heavy Plan. Notwithstanding anything herein to
                  the contrary, if the Plan is Top-Heavy as

                                      -74-
<PAGE>

                  determined pursuant to Section 4l6 of the Code on any
                  Determination Date, then the Plan shall meet the following
                  requirements for any such Plan Year:

                  (a)   Minimum Vesting Requirements. A Participant's vested
                        benefit under Section 4.11 shall be determined in
                        accordance with the following schedule and not Section
                        4.11:

<TABLE>
<CAPTION>
                        Years of Continuous Service          Vested Percentage
                        ---------------------------          -----------------
<S>                                                          <C>
                                 0-2                                 0%
                                 3 or more                         100%
</TABLE>

                        In the event that the Top-Heavy Plan ceases thereafter
                        to be Top-Heavy and the schedule in this Section was in
                        effect, each Participant's vested interest shall again
                        be determined under Section 4.11, provided that a
                        Participant's vested interest shall not be reduced
                        thereby. To the extent required by Section 411(a)(10) of
                        the Code and final Regulations of the Department of
                        Treasury under Section 4l6 of the Code, if the
                        determination of a Participant's vested interest is
                        changed from the use of Section 4.11 to the use of
                        Section 14.1, each Participant with at least three years
                        of Continuous Service may elect to continue to have his
                        vested interest computed under the formerly applied
                        vesting schedule. Such a Participant shall make the
                        foregoing election no later than the last to occur of
                        the following:

                        (i)   The date which is 60 days after the date on which
                              the change in vesting schedules is adopted;

                                      -75-
<PAGE>

                        (ii)  the date which is 60 days after the date on which
                              the change in vesting schedules is effective; or

                        (iii) the date which is 60 days after the date on which
                              the Participant receives written notice of the
                              change in vesting schedule.

                  (b)   Minimum Benefit. It is intended that each Employer will
                        meet the minimum benefit requirements of Sections 4l6(c)
                        and (h) of the Code by providing a minimum benefit for
                        such Plan Year for each of its Participants who are
                        Non-Key Employees. Such minimum benefit, when expressed
                        as an annual retirement benefit payable in the form of a
                        single life annuity beginning at Normal Retirement Age,
                        shall not be less than the Participant's average
                        Compensation for years in the "testing period"
                        multiplied by the lesser of:

                        (i)   multiplied by the number of "years of service"
                              with the Employer; or

                        (ii)  20%.

                        For purposes of this Section, "years of service" shall
                        be determined under the rules of Section 4.11(a)(4), (5)
                        and (6) of the Code but excluding any year of service if
                        (A) the Plan was not a Top-Heavy Plan for any Plan Year
                        ending during such year of service, or (B) such year of
                        service was completed in a Plan Year beginning before
                        January l, 1984. A Participant's "testing period" for
                        purposes of determining his average Compensation under
                        this section is the five consecutive year period during
                        which the Participant had the greatest aggregate
                        Compensation, excluding

                                      -76-
<PAGE>

                        years not included in a "year of service," years ending
                        in a Plan Year beginning before January l, 1984 and
                        years beginning after the close of the last Plan Year in
                        which the Plan is a Top-Heavy Plan. Such minimum benefit
                        shall be increased in any Plan Year in which the Plan is
                        not a Super Top-Heavy Plan to not more than the lesser
                        of 3% per "year of service" or 30% of such Participant's
                        average Compensation for years in the testing period
                        pursuant to Section 4l6(h)(2)(A) of the Code for any
                        year in which his Employer also maintains a
                        defined-contribution plan if necessary to avoid the
                        application of Section 4l6(h)(l) of the Code. No minimum
                        benefit will be required for a Participant under this
                        Plan if his Employer maintains another qualified plan
                        under which a minimum benefit or contribution is being
                        made or funded for such year for the Participant in
                        accordance with Section 4l6(c) and (f) of the Code and
                        the Employer elects by written resolution or in such
                        other plan to have such other plan meet such minimum
                        benefit requirements. With respect to Plan Years
                        beginning on or after January 1, 2002, for purposes of
                        satisfying the minimum benefit requirement of Section
                        416(c)(1) of the Code and the Plan, in determining years
                        of service with the Employer, any service with the
                        Employer shall be disregarded to the extent that such
                        service occurs during a Plan Year when the Plan benefits
                        (within the meaning of Section 410(b) of the Code) no
                        Key Employee or former Key Employee.

                  (c)   Maximum Annual Benefits. For purposes of determining the
                        maximum Annual Retirement Benefit under Section 4.8, if
                        the Plan does not meet the

                                      -77-
<PAGE>

                              requirements of Section 416(h)(2) of the Code, the
                              Defined Benefit Plan Fraction and the Defined
                              Contribution Plan Fraction shall be determined in
                              accordance with Section 415(e) of the Code and
                              applicable regulations prescribed by the Secretary
                              of the Treasury as modified by Section 416(h)(2)
                              of the Code and any such applicable regulations.
                              Notwithstanding the foregoing, this paragraph
                              shall not apply to Plan Years beginning on or
                              after January 1, 2000.

                                      -78-
<PAGE>

      Executed this _______ day of _______________, 2002

ATTEST:                                       NUVEEN INVESTMENTS

___________________________________           By________________________________
        Secretary                                         Larry W. Martin
                                                          Vice President

                                      -79-
<PAGE>

                                   APPENDIX A

Whenever the amount of a benefit is to be determined by a procedure which
requires the use of actuarial assumptions, the following assumptions, where
applicable, shall be utilized:

      1.    1971 Group Annuity Morality Table.

      2.    Weighting of annuities using 70% male and 30% female.

      3.    7% interest rate applicable to all payments forms other than lump
            sum payments.

      4.    Pension Benefit Guaranty Corporation immediate annuity interest rate
            in effect on the first day of the Plan Year in which the retirement
            or death of the Participant occurs, applicable only to lump sum
            payments.

Notwithstanding the foregoing, effective as of February 1, 1999, whenever the
amount of a benefit is to be determined by a procedure which requires the use of
actuarial assumptions, the following assumptions, where applicable, shall be
utilized:

(A)   With respect to payments other than in the form of a lump sum:

      1.    1971 Group Annuity Morality Table.

      2.    Weighting of annuities using 70% male and 30% female.

      3.    7% interest rate.

(B)   With respect to payments made in the form of a lump sum:

      1.    The applicable mortality table prescribed by the Internal Revenue
            Service pursuant to Code Section 417(e)(3). For distributions from
            the Plan made prior to December 31, 2002, this is the mortality
            table described in Revenue Ruling 95-6. For distributions from the
            Plan made on or after December 31, 2002, the mortality table shall
            be the mortality table described in Revenue Ruling 2001-62.

      2.    Interest rate equal to the average yield in November of the
            preceding Plan Year on 30-year Treasury Constant Maturities (as
            published in December by the Internal Revenue Service).

                                      -80-

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