Document:

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                                                                   EXHIBIT (10l)

                              AMENDED AND RESTATED
                              EMPLOYMENT AGREEMENT

         This AMENDED AND RESTATED EMPLOYMENT AGREEMENT (this "Agreement"), made
and entered into and to become effective on the 20th day of November, 2002 (the
"Effective Date"), by and between RUSSELL CORPORATION, an Alabama corporation
(the "Company"), and JONATHAN R. LETZLER (the "Executive").

                                R E C I T A L S:

         WHEREAS, the Company and the Executive entered into that certain
Employment Agreement dated November 20, 1998, which has a term through and
including November 19, 2002; and

         WHEREAS, the Company and the Executive entered into that certain Tier I
Change-of-Control Employment Agreement dated as of December 19, 2001 (the
"Change-of-Control Employment Agreement") to ensure that the Company will have
the continued service of Executive, to reduce the distraction of Executive that
would result from the personal uncertainties caused by a pending or threatened
change of control of the Company, and to provide Executive with compensation and
benefits upon a change of control which ensure that the expectations of
Executive will be satisfied and are competitive with those of similarly-situated
corporations;

         WHEREAS, the Company and the Executive desire to amend and restate the
Employment Agreement and to include therein the material provisions of the
Change-of-Control Employment Agreement as set forth herein;

         WHEREAS, the Company and Executive agree that the Agreement, as set
forth herein, shall supersede and replace the Change-of-Control Employment
Agreement.

         NOW, THEREFORE, in consideration of the mutual covenants and
obligations herein and the compensation the Company agrees herein to pay the
Executive, and of other good and valuable consideration, the receipt of which is
hereby acknowledged, the Company and the Executive agree as follows:

ARTICLE 1.        EMPLOYMENT OF EXECUTIVE

         Subject to the terms and conditions set forth in this Agreement, the
Company hereby employs the Executive and the Executive hereby accepts such
employment for the period stated in ARTICLE 3 of this Agreement.

ARTICLE 2.        POSITION, RESPONSIBILITY AND DUTIES

         2.1      Position and Responsibilities. During the Term (as defined in
Section 3.1), the Executive shall serve as President and Chief Operating Officer
of the Company on the conditions herein provided. The Executive shall report to
the Chief Executive Officer of the Company (the "CEO") and provide such
executive services in the management of the Company's business not

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inconsistent with his position and the provisions of Section 2.2 as shall be
assigned to him from time to time by the CEO.

         2.2      Duties. During the Term and except for illness and reasonable
vacation periods, the Executive shall devote his full business time, attention,
skill, energies and efforts to the faithful performance of his duties hereunder
and to the business and affairs of the Company and any subsidiary or affiliate
of the Company, such duties being those customary to executives at the same
level in companies of similar size.

         2.3      Other Activities. Executive may (a) serve on corporate, civic
or charitable boards or committees, (b) deliver lectures, fulfill speaking
engagements or teach at educational institutions and (c) manage personal
investments, so long as such activities are consistent with the policies,
practices or procedures (collectively, the "Policies") of the Company at the
Effective Date and do not significantly interfere with the performance of
Executive's duties under this Agreement. To the extent that any such activities
have been conducted by Executive immediately prior to the Effective Date and
were consistent with the Policies of the Company at the Effective Date, the
continued conduct of such activities (or activities similar in nature and scope)
after the Effective Date shall not be deemed to interfere with the performance
of Executive's duties under this Agreement.

ARTICLE 3.        TERM

         3.1      Term of Employment. The term ("Term") of the Executive's
employment under this Agreement shall commence on the Effective Date and shall
continue until the earliest to occur of the following dates (the "Termination
Date"): (a) November 19, 2005 (or, if later, the date to which this date is
extended under the following sentence) or if later, the third anniversary of the
Change of Control (as defined below); (b) the date of death of the Executive;
(c) the Disability Effective Date (as defined in Section 7.1) in the event of
"Total Disability" of the Executive (as defined in Section 7.4); (d) the
effective date of a termination of the Executive's employment hereunder, by the
Company, including any termination by the Company for Cause (as defined in and
pursuant to Sections 3.2 and 3.4); or (e) the effective date of the Executive's
resignation from his employment hereunder, including but not limited to
termination by the Executive for Good Reason (as defined in and pursuant to
Sections 3.3 and 3.4). Commencing on the first anniversary of the Effective
Date, the November 19, 2005 date shall automatically be changed on such date and
on each day thereafter to the next following date until the Company or the
Executive, at any time after the first anniversary of the Effective Date,
delivers written notice (an "Expiration Notice") to Executive or Company, as
applicable, that the date shall not change on or after the date specified in the
Expiration Notice; provided that such date specified in the Expiration Notice is
not prior to the date in effect at the time of the delivery of the Expiration
Notice.

         3.2      Termination for Cause; Automatic Termination.

                  (a)      The Company may terminate Executive's employment for
         Cause solely in accordance with all of the substantive and procedural
         provisions of this Section 3.2.

                  (b)      For purposes of this Agreement, "Cause" means any one
         or more of the following:

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                           (i)      Executive's conviction of a felony other
                  than those felonies involving use of an automobile in
                  violation of any vehicle statute and excluding any liability
                  which is based on acts of the Company for which Executive is
                  responsible solely as a result of his office(s) with the
                  Company, provided that (A) he was not directly involved in
                  such acts and either had no prior knowledge of such intended
                  actions or promptly acted reasonably and in good faith to
                  attempt to prevent the acts causing such liability or (B) he
                  did not have a reasonable basis to believe that a law was
                  being violated by such acts;

                           (ii)     Final determination (which for purposes of
                  this paragraph shall mean the exhaustion of all available
                  remedies and appeals by the Executive or the Executive's
                  refusal to pursue such remedies and appeals) in any action the
                  effect of which is to permanently enjoin Executive from
                  fulfilling his duties under this Agreement;

                           (iii)    Executive's willful or intentional material
                  breach of this Agreement;

                           (iv)     Executive's gross negligence in performing
                  his duties under this Agreement;

                           (v)      Executive's willful or intentional
                  misconduct in the performance of his duties under this
                  Agreement;

         Provided, however, that for purposes of clauses (i) through (v), Cause
         shall not include any one or more of the following:

                  (A)      Executive's bad judgment or negligence;

                  (B)      any act or omission believed by Executive in good
         faith to have been in or not opposed to the interest of the Company
         (without intent of Executive to gain, directly or indirectly, a profit
         to which Executive was not legally entitled);

                  (C)      any act or omission by Executive with respect to
         which a determination could properly have been made by the Board of
         Directors of the Company (the "Board") that Executive met the
         applicable standard of conduct for indemnification or reimbursement
         under the Company's by-laws, any applicable indemnification agreement
         or arrangement (including but not limited to any insurance policy for
         which there is applicable coverage), or applicable law, in each case in
         effect at the time of such act or omission; or

                  (D)      any act or omission by Executive with respect to
         which the Company gives Executive a Notice of Consideration (as defined
         below) more than six months after the earliest date on which any member
         of the Board, not a party to the act or omission, knew or should have
         known of such act or omission; and

         further provided that, if a breach of the Agreement involved an act, or
         a failure to act, which was done, or omitted to be done, by Executive
         in good faith and with a reasonable belief that Executive's act, or
         failure to act, was in the best interests of the Company or

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         was required by applicable law or administrative regulation, such
         breach shall not constitute Cause if, within thirty (30) days after
         Executive is given written notice of such breach that specifically
         refers to this Section, Executive cures such breach to the fullest
         extent that it is curable.

                  (c)      The Company shall strictly observe each of the
         following procedures in connection with any termination of employment
         for Cause:

                           (i)      The issue of determining whether Executive's
                  acts or omissions satisfy the definition of "Cause" herein
                  and, if so, whether to terminate Executive's employment for
                  Cause shall be raised and discussed in good faith at a meeting
                  of the Board.

                           (ii)     Not less than 30 days prior to the date of
                  such meeting the Company shall provide Executive and each
                  member of the Board written notice (a "Notice of
                  Consideration") of (A) a detailed description of the acts or
                  omissions alleged to constitute Cause, (B) the date, time and
                  location of such meeting of the Board, and (C) Executive's
                  rights under clause (iii) below.

                           (iii)    Executive shall have the opportunity to
                  appear before the Board at such meeting in person and, at
                  Executive's option, with or without legal counsel, and to
                  present to the Board a written and/or oral response to the
                  Notice of Consideration.

                           (iv)     Executive's employment may be terminated for
                  Cause only if (A) the acts or omissions specified in the
                  Notice of Consideration did in fact occur and do constitute
                  Cause as defined in this Section 3.2, (B) the Board makes a
                  specific determination to such effect and to the effect that
                  Executive's employment should be terminated for Cause and (C)
                  the Company thereafter provides Executive with a Notice of
                  Termination pursuant to Section 3.4 which specifies in
                  specific detail the basis of such termination of employment
                  for Cause and which Notice shall be based upon one or more of
                  the acts or omissions set forth in the Notice of
                  Consideration. The Board's determination specified in clause
                  (B) of the preceding sentence shall require the affirmative
                  vote of at least 75% of the members of the Board.

                  (d)      In the event that the Company terminates Executive's
         employment for Cause upon an Imminent Change Date (as defined below) or
         on or after a Change of Control (as defined below) and the issue of
         whether Executive was properly terminated for Cause becomes a disputed
         issue in any action or proceeding between the Company and Executive,
         the Company shall, notwithstanding the determination referenced in
         clause (iv) of Section 3.2(c), have the burden of establishing by clear
         and convincing evidence that the actions or omissions specified in the
         Notice of Termination did in fact occur, do constitute Cause, were the
         basis for Executive's termination and that the Company has, in each and
         every respect, satisfied the procedural requirements of Section 3.2(c).

                  (e)      For purposes of this Agreement, the following terms
         shall have the following meanings:

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                           (i)      "Beneficial Owner" has the meaning specified
                  in Rule 13d-3 of the SEC under the Exchange Act.

                           (ii)     "Change of Control" means any one or more of
                  the following:

                  (A)      any person (as such term is used in Rule 13d-5 of the
         SEC under the Securities Exchange Act of 1934 ("Exchange Act") or group
         (as such term is defined in Section 3(a)(9) and 13(d)(3) of the
         Exchange Act), other than a Subsidiary (as defined below), any employee
         benefit plan (or any related trust) of the Company or any of its
         Subsidiaries or any Excluded Person (as defined below), becomes the
         Beneficial Owner (as defined above) of 20% or more of the common stock
         of the Company or of Voting Securities (as defined below) representing
         20% or more of the combined voting power of the Company (such a person
         or group, a "20% Owner"), except that (1) no Change of Control shall be
         deemed to have occurred solely by reason of such beneficial ownership
         by a corporation with respect to which both more than 70% of the common
         stock of such corporation and Voting Securities representing more than
         70% of the aggregate voting power of such corporation are then owned,
         directly or indirectly, by the persons who were the direct or indirect
         owners of the common stock and Voting Securities of the Company
         immediately before such acquisition in substantially the same
         proportions as their ownership, immediately before such acquisition, of
         the common stock and Voting Securities of the Company, as the case may
         be, and such corporation shall not be deemed a 20% Owner and (2) if any
         person or group owns 20% or more but less than 30% of the common stock
         of the Company or of the voting power of the Voting Securities and such
         person or group has a "No Change of Control Agreement" with the Company
         (as defined below), no Change of Control shall be deemed to have
         occurred solely by reason of such ownership for so long as the No
         Change of Control Agreement remains in effect and such person or group
         is not in violation of the No Change of Control Agreement; or

                  (B)      the Incumbent Directors (as defined below)
         (determined using the Effective Date as the baseline date) cease for
         any reason to constitute at least two-thirds of the directors of the
         Company then serving; or

                  (C)      approval by the stockholders of the Company of a
         merger, reorganization, consolidation, or similar transaction, or a
         plan or agreement for the sale or other disposition of all or
         substantially all of the consolidated assets of the Company or a plan
         of liquidation of the Company (any of the foregoing transactions, a
         "Reorganization Transaction") which, based on information included in
         the proxy and other written materials distributed to the Company's
         stockholders in connection with the solicitation by the Company of such
         stockholder approval, is not expected to qualify as an Exempt
         Reorganization Transaction (as defined below); or

                  (D)      the consummation by the Company of a Reorganization
         Transaction that for any reason fails to qualify as an Exempt
         Reorganization Transaction as of the date of such consummation,
         notwithstanding the fact that such Reorganization Transaction was
         expected to so qualify as of the date of such stockholder approval.

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         A person or group shall be deemed to have a "No Change of Control
         Agreement" for so long as the person or all members of the group have
         executed a legal, binding and enforceable agreement with the Company
         which provides that: (1) such person or group shall be bound by the
         agreement for the time period of not less than five years from its date
         of execution; (2) such person or group shall not acquire beneficial
         ownership or voting control equal to a percentage of the common stock
         of the Company or the voting power of the Voting Securities which
         exceeds a percentage specified in the agreement which percentage shall
         in all events be less than 30%; (3) such person or group may not
         designate for election as directors a number of directors in excess of
         30% of the number of directors on the Board; and (4) such person or
         group shall vote the common stock of the Company and Voting Securities
         in all matters in the manner directed by the majority of the Incumbent
         Directors. If any agreement described in the preceding sentence is
         violated by such person or group or is amended in a fashion such that
         it no longer satisfies the requirements of the preceding sentence, such
         agreement shall, as of the date of such violation or amendment, be
         treated for purposes hereof as no longer constituting a No Change of
         Control Agreement.

         Notwithstanding the occurrence of any of the foregoing events, a Change
         of Control shall not occur with respect to an Executive if, in advance
         of such event, the Executive agrees in writing that such event shall
         not constitute a Change of Control.

                           (iii)    "Excluded Person" means any Person who,
                  along with such Person's Affiliates and Associates (as such
                  terms are defined in Rule 12b-2 of the General Rules and
                  Regulations under the Exchange Act), is the Beneficial Owner
                  of 15% or more of the common stock of the Company or of the
                  Voting Securities of the Company outstanding as of the
                  Effective Date, provided that such Person, including such
                  Person's Affiliates and Associates, does not acquire, after
                  the Effective Date, additional common stock or Voting
                  Securities of the Company in excess of 1% of the then
                  outstanding common stock or Voting Securities, exclusive of
                  (A) common stock or Voting Securities acquired by such Person
                  and such Person's Affiliates and Associates as a result of
                  stock dividends, stock splits, recapitalizations or similar
                  transactions in which the Company did not receive any
                  consideration for issuing the shares in question or as a
                  result of repurchases of stock by the Company; (B) common
                  stock or Voting Securities acquired by such Person and such
                  Person's Affiliates and Associates as a result of gifts,
                  devises, bequests and intestate succession; and (C) common
                  stock or Voting Securities acquired by such Person and such
                  Person's Affiliates and Associates as a result of
                  participation by such Person and such Person's Affiliates and
                  Associates in any dividend reinvestment plan, stock option
                  plan or other similar plan or arrangement of the Company.

                           (iv)     "Exempt Reorganization Transaction" means a
                  Reorganization Transaction which results in the Persons who
                  were the direct or indirect owners of the outstanding common
                  stock and Voting Securities of the Company immediately before
                  such Reorganization Transaction becoming, immediately after
                  the consummation of such Reorganization Transaction, the
                  direct or indirect owners of both more than 70% of the
                  then-outstanding common stock of the Surviving Corporation and
                  Voting Securities representing more than

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                  70% of the aggregate voting power of the Surviving
                  Corporation, in substantially the same respective proportions
                  as such Persons' ownership of the common stock and Voting
                  Securities of the Company immediately before such
                  Reorganization Transaction.

                           (v)      "Incumbent Directors" means, as of any
                  specified baseline date, individuals then serving as members
                  of the Board who were members of the Board as of the date
                  immediately preceding such baseline date; provided that any
                  subsequently-appointed or elected member of the Board whose
                  election, or nomination for election by stockholders of the
                  Company or the Surviving Corporation, as applicable, was
                  approved by a vote or written consent of at least two-thirds
                  of the directors then comprising the Incumbent Directors shall
                  also thereafter be considered an Incumbent Director, unless
                  the initial assumption of office of such subsequently-elected
                  or appointed director was in connection with (A) an actual or
                  threatened election contest, including a consent solicitation,
                  relating to the election or removal of one or more members of
                  the Board, (B) a "tender offer" (as such term is used in
                  Section 14(d) of the Exchange Act), (C) a proposed
                  Reorganization Transaction, or (D) a request, nomination or
                  suggestion of any Beneficial Owner of Voting Securities
                  representing 15% or more of the aggregate voting power of the
                  Voting Securities of the Company or the Surviving Corporation,
                  as applicable (excluding any Beneficial Owner who is subject
                  to and not in violation of a No Change of Control Agreement
                  both on the date of any such request, nomination or suggestion
                  and on the date of such Director's election or appointment).

                           (vi)     "Imminent Change Date" means any date on
                  which one or more of the following occurs (A) a presentation
                  to the Company's stockholders generally or any of the
                  Company's directors or executive officers of a proposal or
                  offer which, if consummated, would be a Change of Control, (B)
                  the public announcement (whether by advertisement, press
                  release, press interview, public statement, Security and
                  Exchange Commission ("SEC") filing or otherwise) of a proposal
                  or offer which if consummated would be a Change of Control, or
                  (C) such proposal or offer remains effective and unrevoked.

                           (vii)    "Parent Corporation" means a corporation
                  which owns 50% or more of the common stock or Voting
                  Securities of any corporation and any other corporation which
                  owns any corporation which is in an unbroken chain of
                  corporations each of which owns successively in an unbroken
                  chain of corporations which includes the subject corporation.

                           (viii)   "Person" means any individual, sole
                  proprietorship, partnership, joint venture, limited liability
                  company, trust, unincorporated organization, association,
                  corporation, institution, public benefit corporation, entity
                  or government instrumentality, division, agency, body or
                  department.

                           (ix)     "Subsidiary" means with respect to any
                  Person (A) any corporation of which more than 50% of the
                  Voting Securities are at the time, directly or indirectly,
                  owned by such Person and (B) any partnership or limited
                  liability

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                  company in which such Person has a direct or indirect interest
                  (whether in the form of voting power, participation in profits
                  or capital contribution) of more than 50%.

                           (x)      "Surviving Corporation" means the
                  corporation resulting from a Reorganization Transaction and
                  any Parent Corporation of such corporation.

                           (xi)     "Voting Securities" of a corporation means
                  securities of such corporation that are entitled to vote
                  generally in the election of directors of such corporation,
                  but not including any other class of securities of such
                  corporation that may have voting power by reason of the
                  occurrence of a contingency which contingency has not
                  occurred.

         3.3      Good Reason.

                  (a)      During the Term, Executive may terminate his
         employment hereunder for Good Reason in accordance with the substantive
         and procedural provisions of this Article. For purposes of this
         Agreement, Good Reason means the occurrence of any one or more of the
         following actions or omissions that, unless otherwise specified, occurs
         during the Term of the Agreement:

                           (i)      any failure by the Company to pay
                  Executive's Base Salary or annual bonus in violation of
                  Article 4 of the Agreement;

                           (ii)     any failure by the Company to comply with
                  any provision of Articles 2 (including, but not limited to,
                  failure by the Company to reappoint or reelect Executive as
                  President and Chief Operating Officer), 4, 5, 6, 8, 9 or 16 of
                  the Agreement;

                           (iii)    any material adverse modification in
                  Executive's position (including offices, titles, reporting
                  requirements or responsibilities), authority, duties or other
                  terms and conditions of Executive's employment;

                           (iv)     requiring Executive to be based at any
                  office or location other than the Atlanta, Georgia
                  metropolitan area;

                           (v)      any material breach of the Agreement by the
                  Company;

                           (vi)     any termination of employment by the Company
                  that purports to be for Cause, but is not in full compliance
                  with all of the substantive and procedural requirements of
                  this Agreement (any such purported termination shall be
                  treated as a termination of employment without Cause for all
                  purposes of this Agreement);

                           (vii)    the failure at any time of a successor to
                  the Company and a Parent Corporation of a successor to the
                  Company explicitly to assume and agree in writing upon request
                  by the Executive to be bound by the Agreement; or

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                           (viii)     the termination or cessation of Jack
                  Ward's employment as CEO  with the Company for any reason
                  and the failure of the Company, within 60 days after said
                  termination, to elect Executive as Chief Executive Officer of
                  the Company and to enter into a mutually satisfactory
                  superseding employment agreement with Executive reflecting
                  Executive's modified responsibilities, compensation and
                  benefit arrangements that result from said change of office.

                  (b)      In the event Executive determines there is Good
         Reason to terminate, Executive shall notify the Company of the events
         constituting such Good Reason by a Notice of Termination pursuant to
         Section 3.4. A delay in the delivery of such Notice of Termination or a
         failure by Executive to include in the Notice of Termination any fact
         or circumstance which contributes to a showing of Good Reason shall not
         waive any right of Executive under this Agreement or preclude Executive
         from asserting such fact or circumstance in enforcing rights under this
         Agreement; provided, that no act or omission by the Company shall
         qualify as Good Reason if Executive's delivery of Notice of Termination
         occurs more than 12 months after Executive first obtains actual
         knowledge of such act or omission.

                  (c)      If the Termination Date occurs on or after a Change
         of Control and during any portion of the Term, any reasonable
         determination by Executive that any of the events specified in the
         definition of Good Reason, has occurred and constitutes Good Reason
         shall be conclusive and binding for all purposes, unless the Company
         establishes by clear and convincing evidence that Executive did not
         have any reasonable basis for such determination.

                  (d)      In the event that the Company on or after a Change of
         Control conceals any act or omission by the Company that occurs during
         the Term and qualifies as Good Reason, any subsequent termination of
         employment (whether by the Company or by Executive and regardless of
         the circumstances of such termination) that occurs at any time after
         such act or omission shall conclusively be deemed to be a termination
         of employment by Executive for Good Reason, notwithstanding any
         provision of this Agreement to the contrary.

                  (e)      If Executive has a termination of employment during
         the Imminent Change Period (as defined below) and a Change of Control
         occurs within six (6) months of such termination of employment, the
         provisions of this Section 3.3 and the other provisions of this
         Agreement shall be applied in the same manner and to the same extent as
         if the termination of employment had occurred after the date of a
         Change of Control. During the Imminent Change Period, if Executive
         terminates his employment for reasons that would constitute Good Reason
         during the Term, Executive shall be deemed to terminate in accordance
         with the procedures set forth in this Section 3.3 as if the termination
         had taken place following a Change of Control.

                  (f)      "Imminent Change Period" means the period commencing
         on the Imminent Change Date and ending on the earlier to occur of (i) a
         Change of Control or (ii) the date the offer or proposal for a Change
         of Control is no longer effective or has been revoked.

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         3.4      Notice of Termination. Any termination by the Executive for
Good Reason or by the Company for Cause shall be communicated by Notice of
Termination to the Company or the Executive, as the case may be. For purposes
hereof, a "Notice of Termination" means a written notice given in accordance
with Article 33 of the Agreement which sets forth (a) the specific termination
provision in this Agreement relied upon by the party giving such notice, (b) in
reasonable detail the specific facts and circumstances claimed to provide a
basis for such termination of employment, and (c) if the Termination Date is
other than the date of receipt of such Notice of Termination, the Termination
Date shall be any later date, not more than 15 days after the giving of such
Notice, specified in such notice; provided, however, that if no Notice of
Termination is given, the Termination Date shall be the last date on which
Executive is employed by the Company.

ARTICLE 4.        COMPENSATION

         4.1      Base Salary. For all services rendered by the Executive during
the Term, the Company shall pay the Executive as compensation a base annual
salary (the "Base Salary"), payable in appropriate installments to conform with
regular payroll dates for salaried personnel of the Company. On the Effective
Date, the annual rate of the Executive's Base Salary shall be $385,000 (the
"Annual Base Salary Rate"). The Executive's Annual Base Salary Rate may be
increased annually by the Board in its sole discretion. The timing of the annual
increase shall coincide with increases of other top executives, in accordance
with Company policy.

         4.2      Bonus. In addition to the Base Salary provided for in Section
4.1 and the other benefits provided for in this Agreement, the Executive shall
be eligible, upon the achievement of certain goals established and communicated
to the Executive by the Board, to receive an annual bonus of at least 100% of
his base salary (with a midpoint/target of 50% of his base salary as described
in the Company's executive bonus plan) for the year for which the bonus is to be
paid. The annual bonus, if any, shall be paid within 90 days after the end of
the applicable fiscal year of the Company.

ARTICLE 5.        STOCK OPTIONS AND OTHER AWARDS

         5.1      Stock Options. In addition to the Base Salary and bonus
provided to the Executive pursuant to Article 4, the Board, in its discretion
and during the Term, may grant options to the Executive for the purchase of
Russell Corporation common stock. The exercise price for options, which may be
granted, shall equal the average of the high and low of the stock price on the
day the grant is made. Such options shall have a term of ten years and the
options given in any year shall vest and become exercisable over a four-year
period from the date of grant, with 25% of the options granted vesting and
becoming exercisable on each anniversary of the date of grant of such options.
If the Executive's employment is terminated by reason of death, Total
Disability, by the Company for any reason other than for Cause or by the
Executive for Good Reason, all options granted to Executive to purchase common
stock of the Company under this Article 5 or otherwise shall immediately become
vested and shall be exercisable at the Executive's option for a period of three
(3) years from the date of termination but in no event after the date on which
such options would have expired if Executive had remained an employee of the
Company; if the Executive's employment is terminated by the Company for Cause or
by the Executive other than for Good Reason, all options granted under this
Article 5 or otherwise that are not vested as of the Termination Date shall
lapse and be forfeited to the Company.

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         5.2      Restricted Stock. In addition to the Base Salary and bonus
provided to the Executive pursuant to Article 4, the Board, in its discretion
and during the Term, may grant restricted shares of common stock of Russell
Corporation to the Executive. If the Executive's employment is terminated by
reason of death, Total Disability, by the Company for any reason other than for
Cause or by the Executive for Good Reason, all restrictions on such restricted
shares and any other restricted stock granted to Executive shall immediately
lapse; if the Executive's employment is terminated by the Company for Cause or
by the Executive other than for Good Reason, all shares of restricted common
stock granted under this Article 5 or otherwise as to which the restrictions
have not lapsed as of the Termination Date shall be forfeited to the Company.

         5.3      Performance Shares. In addition to the Base Salary and bonus
provided to the Executive pursuant to Article 4, the Board, in its discretion
and during the Term, may grant performance shares to the Executive. If the
Executive's employment is terminated by reason of death, Total Disability, by
the Company for any reason other than for Cause or by the Executive for Good
Reason, the Company shall immediately pay to the Executive with respect to any
performance share with respect to which the performance period has not ended as
of the date of such termination the award or awards that would be payable to the
Executive upon achieving target performance goals.

ARTICLE 6.        OTHER EMPLOYEE BENEFITS

         6.1      Special Health Care Benefit. In addition to the other benefits
provided for in this Agreement (including participation by the Executive and his
spouse in the Company Plan (as defined herein) during the Term of this
Agreement), if the Executive's employment is terminated by reason of the
Executive's death, Total Disability, by the Company for any reason other than
for Cause, by the Executive for Good Reason or by the Executive for any reason
after completing ten years of employment with the Company or any Affiliate, the
Executive (or his spouse if the Executive predeceases his spouse before he
attains the age of 65) shall be entitled, for the period commencing on the
effective Termination Date and ending on the earlier of (a) the date of death
for the survivor of the Executive and his spouse or (b) the Executive and his
spouse attaining the age of 65 (the "Coverage Period"), to participate, at the
Executive's expense (which shall be no more than and limited to the then-current
expense and rate normally payable by the Company's senior executives for
purposes of coverage and benefits under the Company Plan as provided herein), in
any group health plan or program (whether insured or self-insured , or any
combination thereof) provided by the Company for the benefit of its active
employees (the "Company Plan"). The Company, consistent with sound business
practices, shall use its best efforts to provide the Executive with coverage for
the Executive and his spouse under the Company Plan during the Coverage Period
(and any period thereafter to the extent required by applicable state and
federal law), including, if necessary, amending the applicable provisions of the
Company Plan and negotiating the addition of any necessary riders to any group
health insurance contract. In the event the Company is unable for whatever
reason to provide the Executive and his spouse with coverage under the Company
Plan, the Company, at the Executive's expense (which shall be no more than and
limited to the then-current expense and rate normally payable by the Company's
senior executives for purposes of coverage and benefits under the Company Plan
as provided herein), shall provide the Executive with an individual policy of
health insurance providing coverage for the Executive and his spouse (the
"Individual Policy") during the Coverage Period. The coverage to be provided to
the Executive and his

                                      -11-
<PAGE>

spouse pursuant to this Section 6.1 (whether under the Company Plan or the
Individual Policy) shall consist of coverage which, as of the time the coverage
is being provided, is identical (or, with respect to an Individual Policy,
substantially identical) to the coverage provided under the Company Plan to
active employees and their dependents. Notwithstanding the foregoing, the
Company shall coordinate coverage for the Executive under this Section 6.1 with
any applicable federal or state government programs (e.g., Medicare and
Medicaid) when the Executive (or his spouse) is eligible to begin receiving
benefits under such program. Any premiums required to be paid for coverage of
the Executive (or his spouse) under such government programs shall be paid by
the Executive (or his spouse).

         6.2      Participation in Benefit Plans. During the Term, the Executive
shall be entitled to participate in any and all retirement, health, disability,
life insurance, long-term disability insurance, long-term incentive plans,
nonqualified deferred compensation and tax-qualified retirement plans or any
other plans or benefits offered by the Company to its executives generally, if
and to the extent the Executive is eligible to participate in accordance with
the terms and provisions of any such plan or benefit program. During the Term of
this Agreement, an automobile of appropriate value shall be provided by the
Company. All operating and maintenance expenses of the automobile shall be paid
by the Company. Notwithstanding the foregoing, all vesting periods under all
Russell benefit plans shall be waived (except where waiving such period would
violate ERISA) and the Executive, upon termination of employment for any reason
before the age of retirement under those plans, shall be considered to have
attained the minimum retirement age provided in those plans. Nothing in this
Section 6.2 is intended, or shall be construed, to require the Company to
institute any particular plan, program or benefit. If the Executive is
prohibited from participating in, or accruing benefits under, any such plan or
policy, the Company shall provide the Executive with comparable benefits outside
such plan or policy.

ARTICLE 7.        DISABILITY BENEFITS

         7.1      Termination on Total Disability. The Company may only
terminate the Executive's employment because of Executive's Total Disability (as
defined below) by giving Executive or his legal representative, as applicable,
(a) written notice to Executive in accordance with Section 33 of the Company's
intention to terminate Executive's employment pursuant to this Section 7.1 and
(b) a Certification delivered to Executive (as defined in Section 7.4.)
Executive's employment shall terminate effective on the 30th day (the
"Disability Effective Date") after Executive's receipt of such notice unless,
before the Disability Effective Date, Executive shall have resumed the full-time
performance of Executive's duties hereunder.

         7.2      Disability Benefits. If the Company terminates Executive's
employment by reason of Executive's Total Disability during the Term, the
Company's sole obligation to Executive under Articles 2, 4 and 10 (other than
Section 10.1) shall be as follows:

                  (a)      to pay Executive, in addition to all vested rights
         arising from Executive's employment as specified in Section 6.2, a
         lump-sum cash amount equal to all Accrued Obligations (as defined in
         Section 10.3(a) (iii))determined as of the Termination Date,

                  (b)      to continue Executive's Base Salary for a period of
         180 days following the last day of the Termination Month (as defined in
         Section 10.1), and

                                      -12-
<PAGE>

                  (c)      if the Termination Date is on or after a Change of
         Control, to provide Executive disability and other benefits after the
         Termination Date that are not less than the most favorable of such
         benefits then available under this Agreement, Plans of the Company or
         its Affiliates to disabled peer executives of the Company or its
         Affiliates or, if more favorable, those such benefits provided by the
         Company or its Affiliates to any person at any time during the 12-month
         period immediately preceding the date of the Change of Control.

         7.3      Other Benefits. The rights of the Executive as enumerated
under this Article 7 upon any said termination of employment in the event of
Total Disability of Executive (which shall be treated as retirement for purposes
of all Company Plans and benefits) are in addition to any and all other rights
and benefits to which the Executive is entitled (or those in which the Executive
is otherwise vested or which the Executive has otherwise earned), under the
terms of this Agreement (including but not limited to those rights described in
Articles 5,6, 11 and 12) and the aforementioned Employment Agreement dated
November 20, 1998 or otherwise.

         7.4      Definition of Total Disability. For purposes of this
Agreement, "Total Disability" means any medically determinable physical or
mental impairment that has lasted for a continuous period of not less than six
(6) months and can reasonably be expected to be permanent or of indefinite
duration, and that renders Executive unable to perform the duties required under
the Agreement. Such determination shall be made by written certification
("Certification") of Executive's Total Disability by a physician jointly
selected by the Company and the Executive; provided that if the Company and
Executive cannot reach agreement on the physician, the Certification shall be by
a panel of physicians consisting of one physician selected by the Company, one
physician selected by the Executive and a third physician jointly selected by
those two physicians.

ARTICLE 8.        REIMBURSEMENT OF EXPENSES, OFFICE AND SECRETARIAL ASSISTANCE

         The Company recognizes that the Executive will incur, from time to
time, expenses for the benefit of the Company and in furtherance of the
Company's business, including, but not limited to, expenses for entertainment,
travel and other business expenses. The Executive shall be reimbursed for all
said expenses in accordance with the Company's policy and practice applicable
thereto. In the event of the termination of the Executive's employment for any
reason, the Company shall reimburse the Executive (or in the event of death, his
personal representative) for expenses incurred by the Executive on behalf of the
Company prior to the Termination Date to the extent such incurred expenses have
not been previously reimbursed by the Company. Moreover, the Company agrees
that, during the Term of this Agreement, the Executive shall be provided, at the
Company's expense and under applicable policies of the Company, a fully
furnished office at the Company's Atlanta, Georgia headquarters, accompanying
office, voice-mail, e-mail, access, and other privileges, adequate secretarial
and administrative assistance, and all other similar privileges and/or rights
(as may be requested by the Executive), as are consistent with the Executive's
position and duties and as are customary to executives at the same level in
companies of similar size.

                                      -13-
<PAGE>

ARTICLE 9.        VACATION

         The Executive shall be entitled to a minimum four (4) weeks paid
vacation during each Employment Year.

ARTICLE 10.       TERMINATION COMPENSATION

         10.1     Monthly Compensation. Upon the expiration of the Term for any
reason, the Executive shall be entitled to continue to receive his Base Salary
through the last day of the month in which the Termination Date occurs (the
"Termination Month").

         10.2     Compensation Continuance Prior to Change of Control. In
addition to the compensation provided for in Section 10.1, upon the termination
of the Executive's employment prior to a Change of Control by the Executive for
Good Reason or by the Company other than for Cause, the Executive (or in the
event of his subsequent death, his designated beneficiary) shall receive the
bonus for which he was eligible in the year of termination, prorated for the
portion of such year for which Executive was employed (such period to be deemed
to end on the Termination Date) at the rate such bonus was earned but in no
event less than 50% of the Executive's Base Salary for such period and he shall
continue to receive (a) from the last day of the Termination Month through the
end of the twenty-fourth calendar month following the Termination Month (the
"Compensation Continuance Period") the Base Salary that he would have received
pursuant to Section 4.1 during the Compensation Continuance Period as if the
Term had not expired and (b) a bonus with respect to the Compensation
Continuance Period paid at a rate of 50% of the Base Salary of the Executive
during the Compensation Continuance Period to be paid at such times as bonus
payments are normally paid to other executives of the Company.

         10.3     Termination After Change of Control. If, during the Term (or,
if applicable, as provided in Section 10.4 during the Imminent Change Period),
the Company terminates Executive's employment on or after a Change of Control
other than for Cause or Total Disability, or if Executive terminates employment
on or after a Change of Control for Good Reason, the Company's sole obligations
to Executive under Articles 2, 4 and 10 (other than Section 10.1) shall be as
follows:

                  (a)      The Company shall pay Executive, in addition to all
         vested rights arising from Executive's employment as specified in
         Section 6.2, a lump-sum cash amount equal to the sum of the following:

                           (i)      the amount of Executive's Base Salary that
                  is accrued but not yet paid as of the Termination Date (the
                  "Accrued Base Salary");

                           (ii)     the amount of any annual bonus earned by
                  Executive under Section 4.2 of the Agreement but not yet paid
                  with respect to the Company's latest fiscal year ended prior
                  to the Termination Date (the "Accrued Annual Bonus");

                           (iii)    any accrued but unpaid vacation pay, and any
                  other amounts and benefits which are then due to be paid or
                  provided to Executive by the Company, but have not yet been
                  paid or provided (as applicable) (the sum of (i), (ii) and
                  (iii) shall be collectively referred to in this Agreement as
                  the "Accrued Obligations");

                                      -14-
<PAGE>

                           (iv)     Executive's Pro-rata Annual Bonus (as
                  defined below) reduced (but not below zero) by the amount of
                  any annual bonus paid to Executive with respect to the
                  Company's fiscal year in which the Termination Date occurs;

                           (v)      all amounts previously deferred by, or
                  accrued to the benefit of, Executive under any defined
                  contribution Non-Qualified Plans (as defined in Section 16.1),
                  whether vested or unvested, together with any accrued earnings
                  thereon, to the extent that such amounts and earnings have not
                  been previously paid by the Company (whether pursuant to
                  Article 16 or otherwise);

                           (vi)     an amount equal to the number of years in
                  the Severance Period (as defined below) times the sum of (A)
                  Base Salary, (B) the greater of (I) Target Annual Bonus (as
                  defined below) or (II) Historical Bonus (as defined below) and
                  (C) Employer Defined Contribution Plan Contribution (as
                  defined below), each determined as of the Termination Date;
                  provided, however, that any reduction in Executive's Base
                  Salary or Target Annual Bonus that would qualify as Good
                  Reason shall be disregarded for purposes of this clause; and

                           (vii)    to the extent not paid pursuant to any other
                  clause of this Section 10.3(a), an amount equal to the sum of
                  the value of the unvested portion of Executive's accounts or
                  accrued benefits under any Non-Qualified Plans or any plan
                  which meets the qualification requirements of Section 401(a)
                  or 403(a) of the Internal Revenue Code (a "Qualified Plan")
                  (other than a defined benefit plan) maintained by the Company
                  as of the Termination Date and forfeited by Executive by
                  reason of the termination of employment.

         Such lump-sum amount shall be paid no more than thirty (30) days after
         the Termination Date.

                  (b)      The Company shall pay, in lieu of all
         previously-accrued benefits under all Non-Qualified Plans that are
         defined benefit plans, a lump-sum cash amount equal to the positive
         difference, if any, between:

                           (i)      the sum of the Lump-Sum Values (as defined
                  below) of each Maximum Annuity (as defined below) that would
                  be payable to Executive under any defined benefit Plan
                  (whether or not qualified under Section 401(a)) if Executive
                  had:

                  (A)      become fully vested in all such previously-unvested
         benefits,

                  (B)      accrued a number of years of service (for purposes of
         determining the amount of such benefits, entitlement to early
         retirement benefits, and all other purposes of such defined benefit
         plans) that is a number of years equal to the number of years of
         service actually accrued by Executive as of the Termination Date
         increased by the number of years in the Severance Period, and

                  (C)      received the lump-sum severance benefits specified in
         Section 10.3(a)(iv) and (vi) as covered compensation in equal monthly
         installments during the Severance Period,

                                      -15-
<PAGE>

         minus

                           (ii)     the sum of (A) the Lump-Sum Values of the
                  Maximum Annuity benefits actually payable to Executive in the
                  future under each defined benefit Plan that is qualified under
                  Section 401(a) of the Code and (B) the aggregate amounts
                  previously paid to Executive pursuant to Section 16.1.

                  Such lump-sum amount shall be paid no more than 30 days after
                  a Termination Date.

                  (c)      The Company shall pay all reasonable fees and costs
         charged by the outplacement firm selected by Executive to provide
         outplacement services to Executive or, at the election of Executive,
         shall pay to Executive within thirty (30) business days of its receipt
         of notice of Executive's election an amount equal to the reasonable
         fees and expenses such outplacement firm would charge.

                  (d)      Until a number of years subsequent to the Termination
         Date equal to the length of the Severance Period or such later date as
         any plan or program may specify, the Company shall continue to provide
         to Executive and Executive's family welfare benefits (including
         medical, prescription, dental, disability, individual life, group life,
         accidental death and travel accident insurance plans and programs but
         excluding those benefits which are provided after the Executive's
         Termination Date pursuant to Section 6.1 of the Agreement and excluding
         any salary continuation benefits)which are at least as favorable as the
         most favorable Plans of the Company applicable to other peer executives
         of the Company and their families as of the Termination Date, but which
         are in no event less favorable than the most favorable Plans of the
         Company applicable to other peer executives and their families during
         the 12-month period immediately before the date of the Change of
         Control. The cost of such welfare benefits to Executive shall not
         exceed the cost of such benefits to Executive immediately before the
         Termination Date or, if less, the date of the Change of Control.
         Executive's rights under this paragraph shall be in addition to, and
         not in lieu of, any post-termination continuation coverage or
         conversion rights Executive may have pursuant to applicable law,
         including continuation coverage required by Section 4980 of the Code.
         Notwithstanding any of the above, the welfare benefits provided under
         this paragraph shall be secondary to any similar welfare benefits
         provided to Executive by Executive's subsequent employer.

         10.4     Termination During Imminent Change Period. If during the
Imminent Change Period:

                  (a)      the Company terminates Executive's employment other
         than for Cause or Total Disability, or if Executive terminates
         employment for Good Reason, and

                  (b)      a Change of Control occurs within six (6) months of
         Executive's Termination Date,

                  Executive shall receive the benefits provided in Section 10.3,
                  (rather than in Section 10.2), as if such termination of
                  employment occurred as of the date of the Change of Control
                  reduced by any similar benefits actually paid to Executive on
                  or after the termination of employment pursuant to Section
                  10.2.

                                      -16-
<PAGE>

         10.5     Death After Change of Control. If, on or after a Change of
Control, Executive's employment is terminated by reason of Executive's death
during the Term, the Company's sole obligations to Executive under Articles 2, 4
and 10 (other than Section 10.1) shall be as follows:

                  (a)      to pay Executive's estate or Beneficiary, in addition
         to all vested rights arising from Executive's employment as specified
         in Section 6.1, a lump-sum cash amount equal to all Accrued
         Obligations; and

                  (b)      to provide Executive's estate or Beneficiary survivor
         and other benefits that are not less than the most favorable survivor
         and other benefits then available under Plans of the Company to the
         estates or the surviving families of peer executives of the Company or,
         if more favorable, those such benefits provided by the Company at any
         time during the 12-month period immediately preceding the date of the
         Change of Control.

         10.6     For purposes of this Agreement, the terms specified below
shall have the following meanings:

                  (a)      "Employer Defined Contribution Plan Contribution"
         means the product of (i) the maximum amount stated as a percentage of
         Executive's Base Salary paid within the three-year period immediately
         preceding the date of the Change of Control by the Company for any
         12-month period to or for the benefit of Executive as an employer
         contribution under the Company's Non-Qualified Plans and Qualified
         Plans which are defined contribution plans on behalf of Executive,
         multiplied by (ii) Executive's Base Salary as of the Termination Date
         or, if greater, during the 12-month period immediately preceding the
         date of the Change of Control.

                  (b)      "Historical Bonus" means a percentage of the
         Executive's current Base Salary multiplied by the highest percentage of
         Base Salary from time to time in effect represented by the Executive's
         highest annual bonus on a percentage basis over the three-year period
         immediately preceding the date of the Change of Control.

                  (c)      "Lump Sum Value" of an annuity payable pursuant to a
         defined benefit plan means, as of a specified date, the present value
         of such annuity, as determined, as of such date, under generally
         accepted actuarial principles using (i) the applicable interest rate,
         mortality tables and other methods and assumptions that the Pension
         Benefit Guaranty Corporation ("PBGC") would use in determining the
         value of an immediate annuity of a terminated plan on the Termination
         Date or (ii) if such interest rate and mortality assumptions are no
         longer published by the PBGC, interest rate and mortality assumptions
         determined in a manner as similar as practicable to the manner by which
         the PBGC's interest rate and mortality assumptions were determined
         immediately prior to the PBGC's cessation of publication of such
         assumptions.

                  (d)      "Maximum Annuity" means, in respect of a defined
         benefit plan (whether or not qualified under Section 401 (a) of the
         Code), an annuity computed in whatever manner permitted under such plan
         (including frequency of annuity payments, attained age upon
         commencement of annuity payments, and nature of surviving spouse
         benefits, if any) that yields the greatest Lump Sum Value.

                                      -17-
<PAGE>

                  (e)      "Pro-rata Annual Bonus" means, in respect of the
         Company's fiscal year during which the date of the Change of Control
         (in the case of a Pro-rata Annual Bonus payable pursuant to Section
         16.2 hereof) or the Termination Date (in the case of a Pro-rata Annual
         Bonus payable pursuant to Article 10 hereof), as applicable, occurs, an
         amount equal to the product of the greater of Executive's Historical
         Bonus or Executive's Target Annual Bonus (determined as of the date of
         the Change of Control or Termination Date, as applicable) multiplied by
         a fraction, the numerator of which equals the number of days from and
         including the first day of such fiscal year through and including the
         date of the Change of Control or the Termination Date, as applicable,
         and the denominator of which equals 365.

                  (f)      "Severance Period" means a period equal to three
         years.

                  (g)      "Target Annual Bonus" as of a certain date means the
         amount equal to the product of Base Salary determined as of such date
         multiplied by the percentage of such Base Salary to which Executive
         would have been entitled immediately prior to such date under
         Executive's Agreement and any applicable bonus plan for the annual
         performance period for which the annual bonus is awarded if the
         performance goals established pursuant to such bonus plan were achieved
         at the 100% level as of the end of the annual performance period.

ARTICLE 11.       REIMBURSEMENT OF CERTAIN EXPENSES

         The Company shall reimburse the Executive for all legal costs and
expenses, including attorneys' fees, reasonably incurred by the Executive in
connection with any dispute or disputes arising out of alleged violations of
agreements between the Executive and his prior employer provided that:

                  (a)      the Company was notified of each such agreement or
         agreements prior to the execution of the prior employment agreement
         dated November 20, 1998;

                  (b)      the alleged violations of such agreement or
         agreements arise from the Executive's acceptance of employment with and
         employment by the Company; and

                  (c)      the Executive as of November 20, 1998 was not in fact
         in violation of any provision which is the subject of such a dispute.

ARTICLE 12.       POST-TERMINATION OBLIGATIONS

         All payments and benefits to the Executive under this Agreement shall
be subject to the Executive's reasonable compliance with the following
provisions during the Term and following the termination of the Executive's
employment:

         12.1     Assistance in Litigation. The Executive shall, upon reasonable
notice, furnish such information and assistance to the Company as may reasonably
be required by the Company in connection with any litigation in which it is, or
may become, a party, and which arises out of facts and circumstances known to
the Executive. The Company shall promptly reimburse the Executive for his
out-of-pocket expenses incurred in connection with the fulfillment of his
obligations under this Section 12.1.

                                      -18-
<PAGE>

         12.2     Confidential Information. The Executive shall not disclose or
reveal to any unauthorized person any trade secret or other confidential
information relating to the Company, its subsidiaries or affiliates, or to any
businesses operated by them, and the Executive confirms that such information
constitutes the exclusive property of the Company; provided, however, that the
foregoing shall not prohibit the Executive from disclosing such information to
the extent necessary or desirable in connection with obtaining financing for the
Company (or furnishing such information under any agreements, documents or
instruments under which such financing may have been obtained) or otherwise
disclosing such information to third parties or governmental agencies in
furtherance of the interests of the Company, or as may be required by law.

         12.3     Noncompetition. The Executive shall not: (a) during the
Compensation Continuation Period, without the prior written consent of the
Company, engage, directly or indirectly, as a licensee, owner, manager,
consultant, officer, employee, director, investor or otherwise, in any business
in material competition with the Company; or (b) usurp for his own benefit any
corporate opportunity under consideration by the Company during his employment,
unless the Company shall have finally decided not take advantage of such
corporate opportunity. The restrictions of part (a) of this Section 12.3 shall
not apply to a passive investment by the Executive constituting ownership of
less than five percent (5%) of the equity of any entity engaged in any business
described in part (a) of this Section 12.3. The Executive acknowledges that the
possible restrictions on his activities which may occur as a result of his
performance of his obligations under this Section 12.3 are required for the
reasonable protection of the Company. The foregoing provisions of this Section
12.3 shall not apply on and after a termination of employment which occurs
within three years after a Change of Control; provided that during the period
beginning on such Termination Date and ending on the first anniversary of the
Termination Date, Executive shall not, directly or indirectly:

                  (a)      encourage any employee or agent of the Company to
         terminate his or her relationship with the Company;

                  (b)      solicit the employment or engagement as a consultant
         or adviser, of any employee or agent of the Company, or cause or
         encourage any Person to do any of the foregoing;

                  (c)      establish (or take preliminary steps to establish) a
         business with, or encourage others to establish (or take preliminary
         steps to establish) a business with, any employee or agent of the
         Company; or

                  (d)      interfere with the relationship of the Company with,
         or endeavor to entice away from the Company, any Person who or which at
         any time during the period commencing one year prior to the Termination
         Date was or is a material customer or material supplier of, or
         maintained a material business relationship with, the Company.

         12.4     Failure to Comply. In the event that the Executive shall fail
to comply with any provision of this ARTICLE 12, and such failure shall continue
for thirty (30) days following delivery of notice thereof by the Company to the
Executive, all rights hereunder of the Executive and any person claiming under
or through him shall thereupon terminate and no person shall be entitled
thereafter to receive any payments or benefits hereunder (except for
indemnification

                                      -19-
<PAGE>

rights under the Company's Bylaws, or other documents or policies and under the
Company's director and officer liability insurance policies, and for benefits
under employee benefit plans or programs as provided in Section 6.1 which have
been earned or otherwise fixed or determined to be payable prior to such
termination).

ARTICLE 13.       CERTAIN ADDITIONAL PAYMENTS BY THE COMPANY.

         13.1     Gross-up for Certain Taxes.

                  (a)      If it is determined (by the reasonable computation of
         the Company's independent auditors, which determinations shall be
         certified to by such auditors and set forth in a written certificate
         ("Company Certificate") delivered to the Executive) that any benefit
         received or deemed received by the Executive from the Company pursuant
         to this Agreement or otherwise (collectively, the "Potential Parachute
         Payments") is or will become subject to any excise tax under Section
         4999 of the Code or any similar tax payable under any United States
         federal, state, local or other law (such excise tax and all such
         similar taxes collectively, "Excise Taxes"), then the Company shall,
         immediately after such determination, pay the Executive an amount (the
         "Gross-up Payment") equal to the product of

                  (i)      the amount of such excise Taxes

                           multiplied by

                  (ii)     the Gross-up Multiple (as defined in Section 13.4).

         The Gross-up Payment is intended to compensate the Executive for the
         Excise Taxes and any federal, state, local or other income or excise
         taxes or other taxes payable by the Executive with respect to the
         Gross-up Payment. For all purposes of this Section 13, Executive shall
         be deemed to be subject to the highest effective marginal rate of
         Taxes.

                  The Executive or the Company may at any time request the
         preparation and delivery to the Executive of a Company Certificate. The
         Company shall, in addition to complying with Section 13.2, cause all
         determinations and certifications under the Article to be made as soon
         as reasonably possible and in adequate time to permit the Executive to
         prepare and file the Executive's individual tax returns on a timely
         basis.

                  (b)      Limitation on Gross-Up Payment. Notwithstanding any
         other provision of this Article 13, if the aggregate After-Tax Amount
         (defined below) of the Potential Parachute Payments and Gross-up
         Payment that, but for this Section (b), would be payable to Executive,
         does not exceed 120% of the After-Tax Floor Amount (defined below),
         then no Gross-up Payment shall be made to Executive and the aggregate
         amount of Potential Parachute Payments payable to Executive shall be
         reduced (but not below the Floor Amount, defined below) to the largest
         amount which would both (i) not cause any Excise Tax to be payable by
         Executive and (ii) not cause any Potential Parachute Payments to become
         nondeductible by the Company by reason of Section 280G of the Code (or
         any successor provision).

                                      -20-
<PAGE>

                  (c)      For purposes of this Agreement:

                           (i)      "After-Tax Amount" means the portion of a
                  specified amount that would remain after payment of all Taxes
                  paid or payable by Executive in respect of such specified
                  amount;

                           (ii)     "Floor Amount" means the greatest pre-tax
                  amount of Potential Parachute Payments that could be paid to
                  Executive without causing Executive to become liable for any
                  Excise Taxes in connection therewith; and

                           (iii)    "After-Tax Floor Amount" means the After-Tax
                  Amount of the Floor Amount.

         13.2     Determination by the Executive.

                  (a)      If the Company shall fail to deliver a Company
         Certificate to the Executive (and to pay to the Executive the amount of
         the Gross-up Payment, if any) within 14 days after receipt from the
         Executive of a written request for a Company Certificate, or if at any
         time following receipt of a Company Certificate the Executive disputes
         the amount of the Gross-up Payment set forth therein, the Executive may
         elect to demand the payment of the amount which the Executive, in
         accordance with an opinion of counsel to the Executive ("Executive
         Counsel Opinion") (as defined in Section 13.5, below), determines to be
         the Gross-up Payment. Any such demand by the Executive shall be made by
         delivery to the Company of a written notice which specifies the
         Gross-up Payment determined by the Executive and an Executive Counsel
         Opinion regarding such Gross-up Payment (such written notice and
         opinion collectively, the "Executive's Gross-Up Determination"). Within
         14 days after delivery of the Executive's Determination to the Company,
         the Company shall either (1) pay the Executive the Gross-up Payment set
         forth in the Executive's Gross-up Determination (less the portion of
         such amount, if any, previously paid to the Executive by the Company)
         or (2) deliver to the Executive a Company Certificate specifying the
         Gross-up Payment determined by the Company's independent auditors,
         together with an opinion of the Company's counsel ("Company Counsel
         Opinion" (as defined in Article Section 13.5, below)), and pay the
         Executive the Gross-up Payment specified in such Company Certificate.
         If for any reason the Company fails to comply with clause (2) of the
         preceding sentence, the Gross-up Payment specified in the Executive's
         Gross-up Determination shall be final, binding and controlling for all
         purposes.

                  (b)      If the Executive does not make a request for, and the
         Company does not deliver to the Executive, a Company Certificate, the
         Company shall be deemed to have determined that no Gross-up Payment is
         due; provided that the absence of such request by Executive or the
         Company Certificate by the Company shall not preclude Executive from
         making such request at any future date.

         13.3     Additional Gross-up Amounts. If, despite the initial
conclusion of the Company and/or the Executive that certain Potential Parachute
Payments are either not subject to Excise Taxes or not to be counted in
determining whether other Potential Parachute Payments are

                                      -21-
<PAGE>

subject to Excise Taxes (any such item, a "Non-Parachute Item"), it is later
determined (pursuant to the subsequently-enacted provisions of the Code, final
regulations or published rulings of the IRS, final judgment of a court of
competent jurisdiction or the Company's independent auditors that any of the
Non-Parachute Items are subject to Excise Taxes, or are to be counted in
determining whether any Payments are subject to Excise Taxes, with the result
that the amount of Excise Taxes payable by the Executive is greater or the
amount of the Excise Taxes due are greater than the amount determined by the
Company or the Executive pursuant to Section 13.1 or 13.2, as applicable, then
the Company shall promptly upon request by the Executive pay the Executive an
amount (which shall also be deemed a Gross-up Payment) equal to the product of

                  (a)      the sum of (1) such additional Excise Taxes and (2)
         any interest, fines, penalties, expenses or other costs or liability
         therefor incurred by the Executive as a result of having taken a
         position in accordance with a determination made pursuant to Section
         13.1

         multiplied by

                  (b)      the Gross-up Multiple.

         13.4     Gross-up Multiple. The Gross-up Multiple shall equal a
fraction, the numerator of which is one (1.0), and the denominator of which is
one (1.0) minus the sum, expressed as a decimal fraction, of the effective
marginal rates of all federal, state, local and other income and other taxes and
any Excise Taxes applicable to the Gross-up Payment; provided that, if such sum
exceeds 0.8, it shall be deemed equal to 0.8 for purposes of this computation.
(If different effective marginal rates of tax are applicable to various portions
of a Gross-up Payment, the weighted average of such rates shall be used.)

         13.5     Opinion of Counsel. "Executive Counsel Opinion" means a legal
opinion of nationally recognized executive compensation counsel that there is a
reasonable basis to support a conclusion that the Gross-up Payment determined by
the Executive has been calculated in accord with this Article and applicable
law. "Company Counsel Opinion" means a legal opinion of nationally recognized
executive compensation counsel that (a) there is a reasonable basis to support a
conclusion that the Gross-up Payment set forth in the Company Certificate of
Company's independent auditors has been calculated in accord with this Article
and applicable law, and (b) there is no reasonable basis for the calculation of
the Gross-up Payment determined by the Executive.

         13.6     Amount Increased or Contested. The Executive shall notify the
Company in writing of any claim by the IRS or other taxing authority that, if
successful, would require the payment by the Company of a Gross-up Payment. Such
notice shall include the nature of such claim and the date on which such claim
is due to be paid. The Executive shall give such notice as soon as practicable,
but no later than 10 business days, after the Executive first obtains actual
knowledge of such claim; provided, however, that any failure to give or delay in
giving such notice shall affect the Company's obligations under this Article
only if and to the extent that such failure results in actual prejudice to the
Company. The Executive shall not pay such claim less than 30 days after the
Executive gives such notice to the Company (or, if sooner, the date on which
payment of such claim is due). If the Company notifies the Executive in writing
before the expiration of such period that it desires to contest such claim, the
Executive shall:

                                      -22-
<PAGE>

                  (a)      give the Company any information that it reasonably
         requests relating to such claim,

                  (b)      take such action in connection with contesting such
         claim as the Company reasonably requests in writing from time to time,
         including, without limitation, accepting legal representation with
         respect to such claim by an attorney reasonably selected by the
         Company,

                  (c)      cooperate with the Company in good faith to contest
         such claim, and

                  (d)      permit the Company to participate in any proceedings
         relating to such claim;

provided, however, that the Company shall bear and pay directly all costs and
expenses (including additional interest and penalties) incurred in connection
with such contest and shall indemnify and hold the Executive harmless, on an
after-tax basis, for any Excise Tax or income tax, including related interest
and penalties, imposed as a result of such representation and payment of costs
and expenses. Without limiting the foregoing, the Company shall control all
proceedings in connection with such contest and, at its sole option, may pursue
or forego any and all administrative appeals, proceedings, hearings and
conferences with the taxing authority in respect of such claim and may, at its
sole option, either direct the Executive to pay the tax claimed and sue for a
refund or contest the claim in any permissible manner. The Executive agrees to
prosecute such contest to a determination before any administrative tribunal, in
a court of initial jurisdiction and in one or more appellate courts, as the
Company shall determine; provided, however, that if the Company directs the
Executive to pay such claim and sue for a refund, the Company shall advance the
amount of such payment to the Executive, on an interest-free basis and shall
indemnify the Executive, on an after-tax basis, for any Excise Tax or Taxes,
including related interest or penalties, imposed with respect to such advance;
and further provided that any extension of the statute of limitations relating
to payment of Taxes for the taxable year of the Executive with respect to which
such contested amount is claimed to be due is limited solely to such contested
amount. The Company's control of the contest shall be limited to issues with
respect to which a Gross-up Payment would be payable. The Executive shall in
Executive's discretion be entitled to settle or contest, as the case may be, any
other issue raised by the IRS or other taxing authority.

         13.7     Refunds. If, after the receipt by the Executive of an amount
paid or advanced by the Company pursuant to Section 13.1, 13.3 and/or 13.6, the
Executive becomes entitled to receive any refund with respect to such claim or
amount, the Executive shall (subject to the Company's complying with the
requirements of Section 13.6) promptly pay the Company the amount of such refund
(together with any interest paid or credited thereon after taxes applicable
thereto). If, after the receipt by the Executive of an amount paid or advanced
by the Company pursuant to Section 13.1, 13.3 and/or 13.6, a determination is
made that the Executive shall not be entitled to any refund with respect to such
claim and the Company does not notify the Executive in writing of its intent to
contest such determination before the earlier of (a) the expiration of 30 days
after such determination or (b) the date such determination becomes final and
non-appealable, then such advance shall be forgiven and shall not be required to
be repaid. Any contest of a denial of refund shall be controlled by Section
13.6.

                                      -23-
<PAGE>

ARTICLE 14.       PROFESSIONAL FEES.

         If Executive incurs legal fees or other expenses (including expert
witness and accounting fees), in an effort to interpret this Agreement or to
secure, preserve, establish entitlement to, or obtain benefits under this
Agreement (including the fees and other expenses of Executive's legal counsel in
connection with the delivery of an Executive Counsel Opinion), the Company
shall, regardless of the outcome of such effort (but subject to (b) and (c)
below), reimburse Executive on a current basis (in accordance with this Article
14) for such fees and expenses, and shall also pay Executive an additional
payment such that, after payment of all Taxes and Excise Taxes on such amount,
there remains a balance sufficient to pay all such fees and other expenses.

                  (a)      Reimbursement of legal fees and expenses and gross-up
         payments shall be made monthly within ten (10) days after Executive's
         written submission of a request for reimbursement together with
         evidence that such fees and expenses were incurred.

                  (b)      With respect to any claim made by Executive or the
         Company hereunder arising from facts or circumstances occurring prior
         to a Change of Control or the Imminent Change Date, if Executive does
         not prevail in a material respect (after exhaustion of all judicial
         remedies) in respect of such claim, no further reimbursement for legal
         fees and expenses shall be due to Executive in respect of such claim
         and Executive shall refund any amounts previously reimbursed hereunder
         with respect to such claim.

                  (c)      With respect to any claim made by Executive or the
         Company hereunder arising from facts or circumstances occurring on or
         after a Change of Control or the Imminent Change Date, if Executive
         does not prevail (after exhaustion of all available judicial remedies)
         in respect of such claim and the Company establishes before a court of
         competent jurisdiction, by clear and convincing evidence, that
         Executive had no reasonable basis for such claim hereunder, or for his
         response to the Company's claim hereunder, or acted in bad faith, no
         further reimbursement for legal fees and expenses shall be due to
         Executive in respect of such claim and Executive shall refund any
         amounts previously reimbursed hereunder with respect to such claim.

                  (d)      With respect to any claim made by Executive or the
         Company hereunder arising from facts or circumstances occurring on or
         after a Change of Control or the Imminent Change Date, if there is a
         dispute between the Executive and the Company as to Executive's rights
         to reimbursement of legal or other fees and expenses under this
         Agreement or the amount of such reimbursement, any amount of
         reimbursement requested by Executive and accompanied by a legal opinion
         of a nationally recognized executive compensation counsel that such
         amount should be paid under the Agreement shall be final, binding and
         controlling on the Company unless and to the extent the Company
         establishes otherwise by clear and convincing evidence.

ARTICLE 15.       INTEREST

         If the Company does not pay any amount due to Executive under this
Agreement within five business days after such amount first became due and
owing, interest shall accrue on such amount from the date it became due and
owing until the date of payment at an annual rate equal

                                      -24-
<PAGE>

to 200 basis points above the base commercial lending rate published in The Wall
Street Journal in effect from time to time during the period of such nonpayment.

ARTICLE 16.       ADDITIONAL OBLIGATIONS UPON A CHANGE OF CONTROL.

         16.1     Unfunded Deferred Compensation. Upon a Change of Control,
Executive shall become fully vested in all benefits previously accrued under any
deferred compensation Plan (including any supplemental executive retirement Plan
that is a Non-Qualified Plan ("SERP")) that is not qualified under Section
401(a) of the Code (a "Non-Qualified Plan"). Within thirty (30) business days
after the date of the Change of Control, the Company shall pay to Executive a
lump-sum cash amount equal to:

                  (a)      the sum of the Lump-Sum Values of all Maximum
         Annuities that are payable pursuant to all defined benefit
         Non-Qualified Plans, plus

                  (b)      the sum of Executive's account balances under all
         defined contribution Non-Qualified Plans;

         provided, however, that if, at any time prior to the date of the Change
         of Control, Executive delivers to the Company an irrevocable election
         to waive Executive's right to receive the payments described in this
         Section 16.1 (an "Irrevocable Election"), then (i) Executive shall not
         receive the payments described in this Section 16.1, (ii) Executive's
         account balances under each defined contribution Non-Qualified Plan
         shall continue to be credited with investment earnings in accordance
         with the terms of such Non-Qualified Plan during Executive's period of
         employment following the date of the Change of Control, and (iii) at
         the earlier of (x) the date(s) provided in each such Non-Qualified Plan
         and (y) 30 days after Executive's Termination Date, the Company shall
         pay, or cause to be paid, to Executive a lump-sum cash payment equal to
         the sum of the Lump-Sum Value(s) of all Maximum Annuities that are
         payable pursuant to all defined benefit Non-Qualified Plans and the sum
         of Executive's account balances under all defined contribution
         Non-Qualified Plans.

         16.2     Pro-Rata Annual Bonus. Within thirty (30) days after the date
of the Change of Control, the Company shall pay Executive a lump-sum cash
payment equal to the Pro-Rata Annual Bonus determined as of the date of the
Change of Control.

         16.3     Equity Incentives. Upon a Change of Control, Executive shall
become fully vested in and may thereafter exercise in whole or in part all
outstanding stock options, stock appreciation rights, or similar awards and (ii)
shall become fully vested in and receive an immediate transfer of all shares of
restricted stock, deferred stock and similar awards.

         16.4     Performance Shares. If a Change of Control occurs during any
performance period relating to a grant of performance shares, the Company shall
upon the Change of Control pay to the Executive with respect to each performance
share with respect to which the performance period has not ended as of the date
of the Change of Control the award that would be payable to the Executive upon
achieving maximum performance goals.

                                      -25-
<PAGE>

ARTICLE 17.       BENEFICIARY

         The Executive shall name one or more primary beneficiaries and one or
more contingent beneficiaries, who shall be entitled to receive any amounts
payable following the death of the Executive under this Agreement, which
beneficiary or beneficiaries shall be subject to change from time to time by
Executive giving notice in writing to the Board. A beneficiary may be a trust or
other entity, an individual or the Executive's estate. If the Executive fails to
designate a beneficiary, primary or contingent, then and in such event, such
benefit shall be paid to the surviving spouse of the Executive or, if he shall
leave no surviving spouse, then to the Executive's estate. If a named
beneficiary entitled to receive any death benefit is not living or in existence
at the death of the Executive or dies prior to asserting a written claim for any
such death benefit, then and in any such event, such death benefit shall be paid
to the other primary beneficiary or beneficiaries named by the Executive who
shall be living or in existence, if any, otherwise to the contingent beneficiary
or beneficiaries named by the Executive who shall then be living or in
existence, if any; but if there are no primary or contingent beneficiaries then
living or in existence, such benefit shall be paid to the surviving spouse of
the Executive or, if he shall leave no surviving spouse, then to the Executive's
estate. If a named beneficiary is receiving or is entitled to receive payments
of any such death benefits and dies before receiving all of the payments due
him, any remaining benefits shall be paid to the other primary beneficiary or
beneficiaries named by the Executive who shall then be living or in existence,
if any, otherwise to the contingent beneficiary or beneficiaries named by the
Executive who shall then be living or in existence, if any, but if there are not
primary or contingent beneficiaries then living or in existence, the balance
shall be paid to the estate of the beneficiary who was last receiving the
payments.

ARTICLE 18.       INDEMNIFICATION

         The Company shall indemnify the Executive during his employment and
thereafter to the maximum extent permitted by applicable law for any and all
liability of the Executive arising out of, or in connection with, his employment
by the Company; provided, that in no event shall such indemnity of the Executive
at any time during the period of his employment by the Company be less than the
maximum indemnity provided by the Company at any time during such period to any
other officer or director under an indemnification insurance policy or the
bylaws or charter of the Company or by agreement.

ARTICLE 19.       NO SET-OFF OR MITIGATION

         Executive's right to receive when due the payments and other benefits
provided for under this Agreement is absolute, unconditional and not subject to
set-off, counterclaim or legal or equitable defense. Time is of the essence in
the performance by the Company of its obligations under this Agreement. Any
claim which the Company may have against Executive, whether for a breach of this
Agreement or otherwise, shall be brought in a separate action or proceeding and
not as part of any action or proceeding brought by Executive to enforce any
rights against the Company under this Agreement. Executive shall not have any
duty to mitigate the amounts payable by the Company under this Agreement by
seeking new employment or self-employment following termination. Except as
specifically otherwise provided in this Agreement, all amounts payable pursuant
to this Agreement shall be paid without reduction regardless of any amounts of

                                      -26-
<PAGE>

salary, compensation or other amounts which may be paid or payable to Executive
as the result of Executive's employment by another employer or self-employment.

ARTICLE 20.       NO DEFERENCE

         Unless otherwise expressly provided in this Agreement, no determination
pursuant to, or interpretation of, this Agreement made by the board of directors
(or any committee thereof) of the Company or any Successor Corporation following
a Change of Control or Imminent Change Date shall be entitled to any presumptive
validity or other deference in connection with any judicial or administrative
proceeding relating to or arising under this Agreement. Prior to a Change of
Control or Imminent Change Date, no inference as to deference should be drawn
from this provision.

ARTICLE 21.       WAIVER OF CERTAIN OTHER RIGHTS

         To the extent that payments are made to Executive pursuant to Section
10.3(a)(vi), Executive hereby waives the right to receive severance payments or
severance benefits under any other severance Plan, agreement or Policy of the
Company. To the extent that payments are made to Executive as required by
Section 10.3(b), Executive hereby waives the right to receive payments or
benefits under any Non-Qualified Plan of the Company that have been accrued as
of the Termination Date.

ARTICLE 22.       OTHER RIGHTS

         Except as expressly provided in Article 21, this Agreement shall not
prevent or limit Executive's continuing or future participation in any benefit,
bonus, incentive or other Plans provided by the Company and for which Executive
may qualify, nor shall this Agreement limit or otherwise affect such rights as
Executive may have under any other agreements with the Company. Amounts which
are vested benefits or which Executive is otherwise entitled to receive under
any Plan and any other payment or benefit required by law at or after the
Termination Date shall be payable in accordance with such Plan or applicable law
except as expressly modified by this Agreement.

ARTICLE 23.       SUCCESSORS

         This Agreement shall inure to the benefit of and be binding upon the
Company and its successors and assigns. The Company will require any successor
(whether direct or indirect, by purchase, merger, consolidation or otherwise) to
all or substantially all of the business or assets of the Company and any Parent
Corporation of any successor (whether direct or indirect) by purchase, merger,
consolidation or otherwise to all or substantially all of the business assets of
the Company, to assume expressly and agree in writing to perform this Agreement
in the same manner and to the same extent that the Company would be required to
perform it if no such succession had taken place. Any successor to the business
or assets of the Company which assumes or agrees to perform this Agreement by
operation of law, contract, or otherwise shall be jointly and severally liable
with the Company under this Agreement as if such successor were the Company.

                                      -27-
<PAGE>

ARTICLE 24.       NO WAIVER

         Executive's failure to insist upon strict compliance with any provision
of this Agreement shall not be deemed a waiver of such provision or any other
provision of this Agreement. A waiver of any provision of this Agreement shall
not be deemed a waiver of any other provision, and any waiver of any default in
any such provision shall not be deemed a waiver of any later default thereof or
of any other provision.

ARTICLE 25.       DEFINITIONS

         For purposes of this Agreement, the terms specified below shall have
the following meanings:

         (a)      "Plan" means plans, programs or policies of the Company.

         (b)      "Taxes" means federal, state, local or other income or other
                  taxes.

         (c)      "Code" means the Internal Revenue Code of 1986, as amended.

ARTICLE 26.       SEVERABILITY

         All agreements and covenants contained herein are severable, and in the
event any of them shall be held to be invalid by a competent court, this
Agreement shall be interpreted as if such invalid agreements or covenants were
not contained herein.

ARTICLE 27.       ASSIGNMENT PROHIBITED

         This Agreement is personal to each of the parties hereto, and neither
party may assign nor delegate any of his or its rights or obligations hereunder
without first obtaining the written consent of the other party; provided,
however, that nothing in this ARTICLE 27 shall preclude (a) the Executive from
designating a beneficiary to receive any benefit payable under this Agreement
upon his death, (b) the executors, administrators, or other legal
representatives of the Executive or his estate from assigning any rights under
this Agreement to the person or persons entitled thereto or (c) the Company from
assigning this Agreement to any successor of the Company or any parent
corporation of any successor in accordance with the provisions of Article 23.

                                      -28-
<PAGE>

ARTICLE 28.       NO ATTACHMENT

         Except as otherwise provided in this Agreement or required by
applicable law, no right to receive payments under this Agreement shall be
subject to anticipation, commutation, alienation, sale, assignment, encumbrance,
charge, pledge or hypothecation or to execution, attachment, levy, or similar
process or assignment by operation of law, and any attempt, voluntary or
involuntary, to effect any such action shall be null, void and of no effect.

ARTICLE 29.       HEADINGS

         The headings of articles, paragraphs and sections herein are included
solely for convenience of references and shall not control the meaning or
interpretation of any of the provisions of this Agreement.

ARTICLE 30.       GOVERNING LAW

         The parties intend that this Agreement and the performance hereunder
and all suits and special proceedings hereunder shall be construed in accordance
with and under and pursuant to the laws of the State of Alabama and that in any
action, special proceeding or other proceeding that may be brought arising out
of, in connection with, or by reason of this Agreement, the laws of the State of
Alabama shall be applicable and shall govern to the exclusion of the law or any
other forum, without regard to the jurisdiction in which any action or special
proceeding may be instituted.

ARTICLE 31.       BINDING EFFECT

         This Agreement shall be binding upon, and inure to the benefit of, the
Executive and his heirs, executors, administrators and legal representatives and
the Company and its permitted successors and assigns.

ARTICLE 32.       COUNTERPARTS

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

ARTICLE 33.       NOTICES

         All notices, requests and other communications to any party under this
Agreement shall be in writing (including telefacsimile transmission or similar
writing) and shall be given to such party at its address or telefacsimile number
set forth below or such other address or telefacsimile number as such party may
hereafter specify for the purpose by notice to the other party:

                                      -29-
<PAGE>

                  (a)      If to the Executive:

                                    Jonathan R. Letzler
                                    120 Cameron Glen Drive
                                    Atlanta, Georgia  30328

                  (b)      If to the Company:

                                    Russell Corporation
                                    3330 Cumberland Boulevard
                                    Suite 800
                                    Atlanta, Georgia  30339
                                    Attn: General Counsel

Each such notice, request or other communication shall be effective (i) if given
by mail, 72 hours after such communication is deposited in the mails with first
class postage prepaid, addressed as aforesaid, or (ii) if given by any other
means, when delivered at the address specified in this ARTICLE 33.

ARTICLE 34.       MODIFICATION OF AGREEMENT

         No waiver or modification of this Agreement or of any covenant,
condition, or limitation herein contained shall be valid unless in writing and
duly executed by the party to be charged therewith. No evidence of any waiver or
modification shall be offered or received in evidence at any proceeding,
arbitration, or litigation between the parties hereto arising out of or
affecting this Agreement, or the rights or obligations of the parties hereunder,
unless such waiver or modification is in writing, duly executed as aforesaid.
The parties further agree that the provisions of this ARTICLE 34 may not be
waived except as herein set forth.

ARTICLE 35.       TAXES

         To the extent required by applicable law, the Company shall deduct and
withhold all necessary Taxes required by law to be withheld from any payments
made pursuant to the terms of this Agreement.

ARTICLE 36.       RECITALS

         The Recitals to this Agreement are incorporated herein and shall
constitute an integral part of this Agreement.

ARTICLE 37.       EFFECT OF PRIOR AGREEMENTS

         Other than as expressly provided herein, this Agreement supersedes and
replaces any prior employment agreement, understanding or arrangement (whether
written or oral) between the Company and the Executive except for rights and
obligations which have accrued as of the date hereof, which rights and
obligations shall continue in effect. Each of the parties hereto has relied on
his or its own judgment in entering into this Agreement. This Agreement also
supercedes and replaces the Change of Control Employment Agreement except for
rights and

                                      -30-
<PAGE>

obligations which have accrued as of the date hereof, which rights
and obligations shall continue in effect.

                  [Remainder of page intentionally left blank]

                                      -31-
<PAGE>

         IN WITNESS WHEREOF, the parties have executed this Agreement on the day
and year first above written.

                                    EXECUTIVE

                                    /s/
                                    -------------------
                                    Jonathan R. Letzler

WITNESS:

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

                                    RUSSELL CORPORATION

                                    By:
                                       -----------------

                                      -32-<PAGE>
                                                                   EXHIBIT (10m)

                               RUSSELL CORPORATION
                             SUPPLEMENTAL EXECUTIVE
                                 RETIREMENT PLAN

         Effective as of the 1st day of January, 2002, Russell Corporation, a
corporation duly organized and existing under the laws of the State of Alabama
(the "Controlling Company"), hereby amends and restates the Russell Corporation
Supplemental Executive Retirement Plan (the "Plan").

                             BACKGROUND AND PURPOSE

         A.       Purpose. The Controlling Company originally established the
Plan effective as of February 23, 2000. The Controlling Company desires to
provide its designated key management employees (and those of its affiliated and
related companies that participate in the Plan) with supplemental retirement
income.

         B.       General Design. The Plan generally supplements a participant's
benefits payable under the Russell Corporation Revised Pension Plan and the
Russell Corporation Supplemental Retirement Benefit Plan, so that the benefits
payable under those two plans, plus the supplemental benefits payable under the
Plan, generally will not be less than the equivalent of a single life annuity
pension equal to a percentage (determined under the Plan and based on the length
of the participant's service) of the participant's final average compensation.

         C.       Type of Plan. The Plan constitutes an unfunded, nonqualified
deferred compensation plan that benefits certain designated employees who are
within a select group of key management or highly compensated employees.

                             STATEMENT OF AGREEMENT

         To amend and restate the Plan described above with the purposes and
goals as hereinabove described, the Controlling Company hereby sets forth the
terms and provisions of the Plan as follows:

<PAGE>

                                TABLE OF CONTENTS

<TABLE>
<CAPTION>
                                                                                                                 PAGE
                                                                                                                 ----
<S>                                                                                                              <C>
ARTICLE I DEFINITIONS.............................................................................................1

   1.1      ACCRUED BENEFIT.......................................................................................1
   1.2      ACTUARIAL EQUIVALENT OR ACTUARIALLY EQUIVALENT........................................................1
   1.3      ADMINISTRATIVE COMMITTEE..............................................................................1
   1.4      AFFILIATE.............................................................................................1
   1.5      BENEFICIARY...........................................................................................1
   1.6      BENEFIT COMMENCEMENT DATE.............................................................................1
   1.7      BOARD.................................................................................................1
   1.8      BONUS.................................................................................................1
   1.9      CHANGE IN CONTROL.....................................................................................1
   1.10     CODE..................................................................................................2
   1.11     CONTROLLING COMPANY...................................................................................2
   1.12     DISABILITY OR DISABLED................................................................................2
   1.13     EARLY RETIREMENT AGE..................................................................................2
   1.14     EARLY RETIREMENT DATE.................................................................................2
   1.15     EARNINGS..............................................................................................3
   1.16     EFFECTIVE DATE........................................................................................3
   1.17     ELIGIBLE EMPLOYEE.....................................................................................3
   1.18     EMPLOYEE..............................................................................................3
   1.19     ERISA.................................................................................................3
   1.20     EXCESS PLAN...........................................................................................3
   1.21     EXCESS PLAN BENEFIT...................................................................................3
   1.22     EXCHANGE ACT..........................................................................................3
   1.23     EXEMPT REORGANIZATION TRANSACTION.....................................................................3
   1.24     FINAL AVERAGE PAY.....................................................................................3
   1.25     INCUMBENT DIRECTORS...................................................................................4
   1.26     JOINT AND 100% SURVIVOR ANNUITY.......................................................................4
   1.27     NORMAL RETIREMENT AGE.................................................................................4
   1.28     NORMAL RETIREMENT BENEFIT.............................................................................4
   1.29     NORMAL RETIREMENT DATE................................................................................4
   1.30     PARTICIPANT...........................................................................................4
   1.31     PARTICIPATING COMPANY.................................................................................4
   1.32     PENSION PLAN..........................................................................................4
   1.33     PENSION PLAN BENEFIT..................................................................................5
   1.34     PLAN..................................................................................................5
   1.35     PLAN YEAR.............................................................................................5
   1.36     QUALIFIED JOINT AND SURVIVOR ANNUITY..................................................................5
   1.37     RETIREMENT BENEFIT....................................................................................5
   1.38     SINGLE LIFE ANNUITY...................................................................................5
   1.39     SUBSIDIARY............................................................................................5
   1.40     TERMINATION OF EMPLOYMENT.............................................................................5
</TABLE>

                                        i

<PAGE>

<TABLE>
<CAPTION>
                                                                                                                 PAGE
                                                                                                                 ----
<S>                                                                                                              <C>
   1.41     TRUST OR TRUST AGREEMENT..............................................................................5
   1.42     TRUSTEE...............................................................................................5
   1.43     TRUST FUND............................................................................................5
   1.44     VOTING SECURITIES.....................................................................................5
   1.45     YEARS OF CREDITED SERVICE.............................................................................5
   1.46     YEARS OF SERVICE......................................................................................5

ARTICLE II ELIGIBILITY............................................................................................6

   2.1      ELIGIBILITY...........................................................................................6
   2.2      CESSATION OF ACTIVE PARTICIPATION.....................................................................6
      (a)      Cessation of Participation.........................................................................6
      (b)      Inactive Participant Status........................................................................6
   2.3      DISABILITY............................................................................................6

ARTICLE III ACCRUED BENEFITS......................................................................................7

   3.1      DETERMINATION OF ACCRUED BENEFIT......................................................................7
   3.2      DISABILITY............................................................................................7
   3.3      NONDUPLICATION OF BENEFITS............................................................................7

ARTICLE IV VESTING................................................................................................8

   4.1      TIME OF VESTING.......................................................................................8
   4.2      VESTED BENEFITS ARE NONFORFEITABLE....................................................................8
   4.3      FORFEITURE OF BENEFITS................................................................................8

ARTICLE V PAYMENT OF RETIREMENT BENEFITS..........................................................................9

   5.1      GENERAL...............................................................................................9
   5.2      NORMAL RETIREMENT BENEFIT.............................................................................9
   5.3      EARLY COMMENCEMENT OF BENEFIT.........................................................................9
   5.4      DEFERRED COMMENCEMENT OF BENEFIT......................................................................9
   5.5      BENEFIT NOT IN EXCESS OF $10,000......................................................................9
   5.6      TIMING OF PAYMENT.....................................................................................9
   5.7      FORM OF BENEFIT......................................................................................10
      (a)      Normal Form of Benefit............................................................................10
      (b)      Optional Forms of Benefit.........................................................................10
      (c)      Level of Income Option............................................................................10
      (d)      Cash Payments.....................................................................................10
      (e)      Calculation of Benefit............................................................................10
   5.8      OFFSET FOR OBLIGATIONS TO THE COMPANY................................................................10
   5.9      TAXES................................................................................................10
   5.10     ERRORS AND OMISSIONS IN BENEFITS.....................................................................11
   5.11     CHANGE IN CONTROL....................................................................................11

ARTICLE VI DEATH BENEFITS........................................................................................12

   6.1      DEATH BENEFIT PRIOR TO COMMENCEMENT..................................................................12
      (a)      General Rule......................................................................................12
      (b)      Prior to Early Retirement Age.....................................................................12
</TABLE>

                                       ii
<PAGE>

<TABLE>
<CAPTION>
                                                                                                                PAGE
                                                                                                                ----
<S>                                                                                                             <C>
      (c)      After Early Retirement Age........................................................................12
      (d)      Death Before Distribution.........................................................................12
      (e)      Adjustment for Early Commencement.................................................................12
   6.2      DEATH BENEFIT AFTER COMMENCEMENT.....................................................................12
   6.3      FORFEITURE OF BENEFITS AT DEATH......................................................................13

ARTICLE VII BENEFICIARY DESIGNATION..............................................................................14

   7.1      GENERALLY............................................................................................14
   7.2      UNMARRIED PARTICIPANTS...............................................................................14
   7.3      MARRIED PARTICIPANTS.................................................................................14

ARTICLE VIII CLAIMS..............................................................................................15

   8.1      CLAIMS...............................................................................................15
      (a)      Initial Claim.....................................................................................15
      (b)      Appeal............................................................................................15
      (c)      Satisfaction of Claims............................................................................15

ARTICLE IX SOURCE OF FUNDS.......................................................................................16

   9.1      SOURCE OF FUNDS......................................................................................16
      (a)      Allocation among Affiliates.......................................................................16
      (b)      General Creditors.................................................................................16
   9.2      TRUST................................................................................................16
      (a)      Establishment.....................................................................................16
      (b)      Distributions.....................................................................................16
      (c)      Status of the Trust...............................................................................16

ARTICLE X RIGHTS AND DUTIES UNDER THE PLAN.......................................................................17

   10.1     MEMBERSHIP OF THE ADMINISTRATIVE COMMITTEE...........................................................17
   10.2     ADMINISTRATIVE COMMITTEE ORGANIZATION AND ACTION.....................................................17
   10.3     RIGHTS AND DUTIES OF ADMINISTRATIVE COMMITTEE........................................................17
   10.4     COMPENSATION, INDEMNITY AND LIABILITY................................................................18

ARTICLE XI AMENDMENT AND TERMINATION.............................................................................19

   11.1     AMENDMENTS...........................................................................................19
   11.2     TERMINATION OF PLAN..................................................................................19

ARTICLE XII MISCELLANEOUS........................................................................................20

   12.1     TAXATION.............................................................................................20
   12.2     CONTRACTUAL OBLIGATION...............................................................................20
   12.3     NO EMPLOYMENT CONTRACT...............................................................................20
   12.4     HEADINGS.............................................................................................20
   12.5     GENDER AND NUMBER....................................................................................20
   12.6     SUCCESSORS...........................................................................................20
   12.7     ASSIGNMENT OF BENEFITS...............................................................................21
   12.8     LEGALLY INCOMPETENT..................................................................................21
   12.9     GOVERNING LAW........................................................................................21
</TABLE>

                                      iii

<PAGE>
<TABLE>
<CAPTION>
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   12.10       SEVERABILITY......................................................................................21
   12.11       OTHER PLANS.......................................................................................21
</TABLE>

                                       iv
<PAGE>

                                   ARTICLE I
                                   DEFINITIONS

         For purposes of the Plan, the following terms, when used with an
initial capital letter, shall have the meaning set forth below unless a
different meaning plainly is required by the context.

         1.1      Accrued Benefit means an annual pension benefit (i) which a
Participant has earned under the Plan as of any date of reference, and (ii)
which is more fully determined under Article III. To the extent that a
Participant's Accrued Benefit is paid or expressed as a monthly benefit, such
monthly benefit payments shall equal 1/12 of such Participant's annual pension
benefit.

         1.2      Actuarial Equivalent or Actuarially Equivalent has the meaning
set forth in the Pension Plan.

         1.3      Administrative Committee means a committee comprised of the
Board or a committee appointed by the Board.

         1.4      Affiliate means (i) any corporation or other entity that is
required to be aggregated with the Controlling Company under Code Sections
414(b), (c), (m) or (o), and (ii) any other entity in which the Controlling
Company has an ownership interest and which the Controlling Company designates
as an Affiliate for purposes of the Plan.

         1.5      Beneficiary means, with respect to a Participant, the person
or persons entitled to receive any death benefits that may be payable under the
Plan upon the death of the Participant.

         1.6      Benefit Commencement Date means, with respect to a Participant
or Beneficiary, the first day of the first period for which payment of a benefit
under the Plan is scheduled to commence by operation of the Plan.

         1.7      Board means the Board of Directors of the Controlling Company.

         1.8      Bonus means the amount, if any, of any annual bonus awarded to
a Participant under the Controlling Company's Management Incentive Programs or
annual bonus plans.

         1.9      Change in Control means, any one or more of the following:

                  (a)      any person (as such term is used in Rule 13d-5 of the
Securities and Exchange Commission under the Exchange Act) or group (as such
term is defined in Sections 3(a)(9) and 13(d)(3) of the Exchange Act), other
than a Subsidiary, any employee benefit plan (or any related trust) of the
Company or any of its Subsidiaries or any excluded person, becomes the
beneficial owner of 20% or more of the common stock of the Controlling Company
or of Voting Securities representing 20% or more of the combined power of the
Controlling Company (such a person or group, a "20% Owner"), except that (i) no
Change in Control shall be deemed to have occurred solely by reason of such
beneficial ownership by a corporation with respect to which both more than 70%
of the common stock of such corporation and Voting Securities representing more
than 70% of

<PAGE>

the aggregate voting power of such corporation are then owned, directly or
indirectly, by the persons who were the direct or indirect owners of the common
stock and Voting Securities of the Controlling Company immediately before such
acquisition in substantially the same proportions as their ownership,
immediately before such acquisition, of the common stock and Voting Securities
of the Controlling Company, as the case may be and (ii) such corporation shall
not be deemed at 20% Owner; or

                  (b)      the Incumbent Directors (determined using the
Effective Date as the base-line date) cease for any reason to constitute at
least two-thirds of the directors of the Controlling Company then serving; or

                  (c)      approval by the stockholders of the Controlling
Company of a merger, reorganization, consolidation, or similar transaction, or a
plan or agreement for the sale or other disposition of all or substantially all
of the consolidated assets of the Controlling Company or a plan of liquidation
of the Controlling Company (any of the foregoing transactions, a "Reorganization
Transaction") which, based on information included in the proxy and other
written materials distributed to the Controlling Company's stockholders in
connection with the solicitation by the Controlling Company of such stockholder
approval, is not expected to qualify as an Exempt Reorganization Transaction; or

                  (d)      the consummation by the Controlling Company of a
Reorganization Transaction that for any reason fails to qualify as an Exempt
Reorganization Transaction as of the date of such consummation, notwithstanding
the fact that such Reorganization Transaction was expected to so qualify as of
the date of such stockholder approval.

Notwithstanding the occurrence of any of the foregoing events, a Change in
Control shall not occur with respect to a Participant if, in advance of such
event, the Participant agrees in writing that such event shall not constitute a
Change in Control.

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

         1.11     Controlling Company means Russell Corporation, an Alabama
corporation with its principal place of business in Atlanta, Georgia.

         1.12     Disability or Disabled means a mental or physical condition
which, either with or without reasonable accommodations, renders a Participant
incapable of performing the duties and responsibilities assigned to him
immediately prior to incurring such condition as determined by the
Administrative Committee in good faith, upon receipt of medical advice from one
or more individuals, selected by the Administrative Committee, who are qualified
to give professional medical advice.

         1.13     Early Retirement Age means the date the Participant attains
age 55 and completes 5 Years of Service.

         1.14     Early Retirement Date means, with respect to a Participant who
retires from the employment of all Affiliates on or after attaining his Early
Retirement Age and before attaining

                                        2
<PAGE>

Normal Retirement Age, the first day of the calendar month coinciding with or
next following the date the Participant retires.

         1.15     Earnings has the meaning set forth in the Pension Plan;
provided, that for purposes of this Plan, "Earnings" shall also include a
Participant's Bonus and any amount which would otherwise be Earnings absent an
election by Participant to defer such amounts or convert such amounts into a
different form of benefit.

         1.16     Effective Date means January 1, 2002, the date that this
restatement of the Plan shall generally be effective. The original effective
date of the Plan was February 23, 2000.

         1.17     Eligible Employee means an Employee of a Participating Company
whose job classification is Grade 20 or higher and who is designated by the
Chief Executive Officer of the Controlling Company or by the Administrative
Committee as a member of a select group of highly compensated or key management
Employees of such Participating Company.

         1.18     Employee means any individual who is employed as a common-law
employee of an Affiliate [including officers, but excluding independent
contractors and leased employees (or any individuals designated as independent
contractors or leased employees under the applicable Affiliate's customary
worker classification procedures) and directors who are not officers or
otherwise employees]; provided, an individual who is on a paid leave of absence
from an Affiliate shall be deemed to be actively employed by such Affiliate
unless such individual is classified as terminated under such Affiliate's
customary worker classification procedures.

         1.19     ERISA means the Employee Retirement Income Security Act of
1974, as amended.

         1.20     Excess Plan means the Russell Corporation Supplemental
Retirement Benefit Plan.

         1.21     Excess Plan Benefit means the supplemental retirement benefit
payable under the Excess Plan.

         1.22     Exchange Act means the Securities Exchange Act of 1934, as
amended. References to a particular section of the Exchange Act include
references to successor provisions.

         1.23     Exempt Reorganization Transaction means a Reorganization
Transaction which results in the persons who were the direct or indirect owners
of the outstanding common stock and Voting Securities of the Controlling Company
immediately before such Reorganization Transaction becoming, immediately after
the consummation of such Reorganization Transaction, the direct or indirect
owners of both more than 70% of the then-outstanding common stock of the
surviving corporation and Voting Securities representing more than 70% of the
aggregate voting power of the surviving corporation, in substantially the same
respect proportions as such persons' ownership of the common stock and Voting
Securities of the Controlling Company immediately before such Reorganization
Transaction.

         1.24     Final Average Pay means the average monthly amount determined
by dividing a Participant's total Earnings during the 3 consecutive years in
which such total was the highest, selected from the last 10 consecutive years
prior to retirement, by 36; provided, that for purposes of

                                        3
<PAGE>

this Section, "year" means the 12-month period ending on the last day of the
fiscal quarter preceding the date on which such Participant has a Termination of
Employment or other date as of which a calculation in respect thereto is made
and each 12-month period prior thereto.

         1.25     Incumbent Directors means, as of any specified baseline date,
individuals then serving as members of the Board who were members of the Board
as of the date immediately preceding such baseline date; provided that any
subsequently-appointed or elected member of the Board whose election, or
nomination for election by stockholders of the Controlling Company or the
surviving corporation, as applicable, was approved by a vote or written consent
of at least two-thirds of the directors then comprising the Incumbent Directors
shall also thereafter be considered an Incumbent Director, unless the initial
assumption of office of such subsequently-elected or appointed director was in
connection with (i) an actual or threatened election contest, including a
consent solicitation, relating to the election or removal of one or more members
of the Board, (ii) a "tender offer" (as such term is used in Section 14(d) of
the Exchange Act), (iii) a proposed Reorganization Transaction, or (iv) a
request, nomination or suggestion of any beneficial owner of Voting Securities
representing 15% or more of the aggregate voting power of the Voting Securities
of the Company or the surviving corporation, as applicable.

         1.26     Joint and 100% Survivor Annuity means an annuity that is the
Actuarial Equivalent of a Single Life Annuity, that provides a reduced level
monthly benefit to the Participant for his lifetime and, upon his death, an
annuity for the life of his Beneficiary in a monthly amount equal to the amount
payable to the Participant during his life.

         1.27     Normal Retirement Age means the date the Participant attains
age 65.

         1.28     Normal Retirement Benefit means a Participant's Retirement
Benefit determined as of the Normal Retirement Age.

         1.29     Normal Retirement Date means, with respect to a Participant,
the first day of the calendar month coincident with or next following the date
on which the Participant attains Normal Retirement Age.

         1.30     Participant means any person who has been admitted to, and has
not been removed from, participation in the Plan pursuant to the provisions of
Article II and as set forth on Schedule A, or who otherwise is entitled to a
benefit under the Plan.

         1.31     Participating Company means, as of the Effective Date, the
Controlling Company and its Affiliates that are designated by the Controlling
Company, and set forth on Schedule B hereto, as Participating Companies herein.
In addition, any other Affiliate in the future may adopt the Plan with the
consent of the Administrative Committee, and such Affiliate's name shall be
added to Schedule B.

         1.32     Pension Plan means the Russell Corporation Revised Pension
Plan, a defined benefit plan qualified under Code Section 401(a), as such plan
may be amended from time to time.

                                        4
<PAGE>

         1.33     Pension Plan Benefit means a Participant's accrued benefit
under the Pension Plan, including any benefits already paid or in pay status,
expressed as a Single Life Annuity commencing on the Participant's Benefit
Commencement Date (or any other date of determination).

         1.34     Plan means the Russell Corporation Supplemental Executive
Retirement Plan, as contained herein and all amendments hereto. The Plan is
intended to be an unfunded, nonqualified deferred compensation plan covering
certain designated Employees who are within a select group of key management or
highly compensated Employees.

         1.35     Plan Year shall mean the 12-consecutive-month period ending on
December 31 of each year.

         1.36     Qualified Joint and Survivor Annuity has the meaning set forth
in the Pension Plan.

         1.37     Retirement Benefit means a Participant's vested Accrued
Benefit determined as of his Benefit Commencement Date.

         1.38     Single Life Annuity means a benefit payable in equal monthly
payments during the Participant's lifetime, commencing as of his Benefit
Commencement Date and ending with the payment due on the first day of the month
in which the Participant's death occurs.

         1.39     Subsidiary means, (a) any corporation of which more than 50%
of the Voting Securities are at the time, directly or indirectly, owned by such
person, and (b) any partnership or limited liability company in which such
person has direct or indirect interest (whether in the form of voting power or
participation in profits or capital contribution) or more than 50%.

         1.40     Termination of Employment means the retirement, resignation,
death, or other voluntary or involuntary termination of a Participant's
employment relationship with the Company and all Affiliates.

         1.41     Trust or Trust Agreement means the separate agreement or
agreements between the Controlling Company and the Trustee governing the
creation of the Trust Fund, and all amendments thereto.

         1.42     Trustee means the party or parties so designated from time to
time pursuant to the terms of the Trust Agreement.

         1.43     Trust Fund means the total amount of cash and other property
held by the Trustee (or any nominee thereof ) at any time under the Trust
Agreement.

         1.44     Voting Securities means securities of a corporation that are
entitled to vote generally in the election of directors, but not including any
other class of securities of such corporation that may have voting power by
reason of the occurrence of a contingency.

         1.45     Years of Credited Service means Years of Service earned on or
after January 1, 1998.

         1.46     Years of Service has the meaning set forth in the Pension
Plan.

                                        5
<PAGE>

                                   ARTICLE II
                                   ELIGIBILITY

         2.1      Eligibility.

                  The Chief Executive Officer of the Controlling Company or the
Administrative Committee, each in its sole discretion, shall designate which
Eligible Employees shall become Participants in the Plan and, for each such
Eligible Employee, the effective date of his participation in the Plan. The
Administrative Committee then shall set forth the name of each Participant on
Schedule A hereto.

         2.2      Cessation of Active Participation.

                  (a)      Cessation of Participation. Except as provided in
Section 2.3 or unless the Chief Executive Officer of the Controlling Company or
the Administrative Committee specifies otherwise, a Participant's active
participation in the Plan shall cease such that he shall not accrue any
additional benefit under the Plan as of the earlier of (i) the date he ceases to
be employed as an Eligible Employee or (ii) the date he is otherwise removed
from active participation in the Plan by the Chief Executive Officer of the
Controlling Company or the Administrative Committee.

                  (b)      Inactive Participant Status. Even if his active
participation in the Plan ends:

                           (1) An Employee who has a vested benefit shall remain
         an inactive Participant in the Plan until the earlier of (A) the date
         the Participant receives the full amount of his Retirement Benefit from
         the Plan, or (B) the date he again becomes an Eligible Employee and
         recommences participation in the Plan.

                           (2) An Employee who has no vested benefit under the
         Plan but who remains employed by an Affiliate shall remain an inactive
         Participant in the Plan until the date he ceases to be employed by all
         Affiliates at a time when he has no vested benefit under the Plan. If
         he remains employed by an Affiliate until his benefit under the Plan
         vests, the status of his inactive participation will be determined
         under subsection (1) hereof.

                           (3) An Employee who has no vested benefit under the
         Plan who ceases to be employed by all Affiliates will cease to be a
         Participant upon such cessation of employment.

         2.3      Disability.

                  If a Participant terminates employment with the Controlling
Company and all Affiliates because of Disability, he shall continue to receive
credit for Years of Credited Service while he remains Disabled and thereby shall
continue to be treated as an active Participant, all to the limited extent
provided in Section 3.2.

                                        6
<PAGE>

                                  ARTICLE III
                                ACCRUED BENEFITS

         3.1      Determination of Accrued Benefit.

                  Except as provided in Section 3.2, a Participant's Accrued
Benefit as of any date of determination is an annual benefit commencing as of
such date of determination that is equal to the following:

                  (a)      2% of the Participant's Final Average Compensation
for each year that a Participant's Years of Credited Service is less than or
equal to 25 years; minus

                  (b)      the product of:

                           (1)      the sum of (A) the Participant's Pension
         Plan Benefits plus (B) the Participant's Excess Plan Benefit, times

                           (2)      a fraction the numerator of which is the
         Years of Credited Service calculated under the Pension Plan and earned
         after December 31, 1998 and the denominator of which the Participant's
         total Years of Credited Service calculated under the Pension Plan.

         3.2      Disability.

                  A Participant who terminates employment with the Controlling
Company and all Affiliates because of Disability shall continue to be credited
with Years of Credited Service under the Plan until the Participant's Benefit
Commencement Date or, if earlier, the date he ceases to receive long-term
disability or workers' compensation benefits under the Controlling Company's
programs. The Participant shall continue to accrue benefits under the Plan while
being credited with Years of Credited Service because of Disability, except that
the Participant's Final Average Compensation for purposes of benefit
calculations under Section 3.1 shall be determined as though the date of the
Participant's Disability were the Participant's retirement date.

         3.3      Nonduplication of Benefits.

                  In calculating a Participant's Accrued Benefit, all of the
Participant's Years of Credited Service shall be taken into account regardless
of whether a prior payment of benefits to the Participant has been made under
the Plan. Notwithstanding the foregoing, the Participant's Accrued Benefit shall
be reduced by the Actuarial Equivalent of any previous payments to the
Participant from the Plan so that the Participant shall not receive a
duplication of benefits under the Plan.

                                        7
<PAGE>

                                   ARTICLE IV
                                     VESTING

         4.1      Time of Vesting.

                  A Participant shall become 100% vested in his Accrued Benefit,
and his Retirement Benefit thereby shall become nonforfeitable, as of the first
of the following to occur:

                  (a)      the Participant has 5 or more Years of Credited
Service, or

                  (b)      the Participant attains age 61, or

                  (c)      a Change in Control occurs with respect to the
Participant.

         4.2      Vested Benefits Are Nonforfeitable.

                  A Participant's combined vested benefits under the Pension
Plan, the Excess Plan and the Plan generally shall not decrease after the
Participant's benefits under the Plan become 100% vested; provided, the portion
of the Participant's vested benefits payable under the Plan may decrease over
time due to increases in benefits under the Pension Plan and the Excess Plan.

         4.3      Forfeiture of Benefits.

                  Except as provided in Section 3.2 (relating to Disability), if
a Participant is not 100% vested in his Accrued Benefit when the Participant has
a Termination of Employment, his Accrued Benefit shall be forfeited. If a
Participant forfeits his Accrued Benefit under the Plan and later becomes
reemployed by a Participating Company and is again designated as a Participant
in the Plan, the forfeited benefits shall be reinstated to the extent designated
by the Chief Executive Officer of the Controlling Company or the Administrative
Committee.

                                        8
<PAGE>

                                   ARTICLE V
                         PAYMENT OF RETIREMENT BENEFITS

         5.1      General.

                  A Participant's Retirement Benefit shall be payable to him in
the amount, at the time and in the form determined in this Article V.

         5.2      Normal Retirement Benefit.

                  If payment of a Participant's Retirement Benefit for a reason
other than death is to commence or be made as of his Normal Retirement Date, the
amount of his benefit payment(s) shall be equal to his Normal Retirement
Benefit.

         5.3      Early Commencement of Benefit.

                  If a Participant terminates his employment (for a reason other
than his death) at any time before his Early Retirement Age or his Normal
Retirement Age, and if payment of his Retirement Benefit is to commence or be
made on or after his Early Retirement Age but before he attains Normal
Retirement Age, the amount of his benefit payment(s) shall be equal to, or the
Actuarial Equivalent of, his Retirement Benefit reduced for early, pre-Normal
Retirement Date commencement by recalculating his Accrued Benefit under the
formula set forth in Section 3.1; except that (i) the percentage set forth in
Section 3.1(a) shall be decreased by (A) 3% per year for each whole or partial
year after the Participant attains age 59 by which his Benefit Commencement Date
precedes his Normal Retirement Date plus (B) 5% per year for each whole or
partial year by which his Benefit Commencement Date precedes his attainment of
age 60, and (ii) for purposes of Section 3.1(b), the amount calculated under
that subsection shall be reduced by the factors set forth in the Pension Plan as
if Participant upon his Benefit Commencement Date were entitled to early
retirement benefits under the Pension Plan and would receive a benefit
calculated pursuant to the Pension Plan without regard to any service
requirement thereunder.

         5.4      Deferred Commencement of Benefit.

                  If payment of a Participant's Retirement Benefit for a reason
other than death is to commence or be made as of a date after his Normal
Retirement Date, the amount of his benefit payment(s) shall be adjusted as
provided for in the Pension Plan.

         5.5      Benefit Not in Excess of $10,000.

                  If upon a Participant's Termination of Employment, the lump
sum Actuarial Equivalent of his vested Retirement Benefit does not exceed
$10,000, such Retirement Benefit shall be immediately paid to the Participant in
a lump sum.

         5.6      Timing of Payment.

                  Payment of a Participant's Retirement Benefit generally shall
commence or be made at the same time as the Participant's benefits under the
Pension Plan commence or are made;

                                        9
<PAGE>

provided, if the Participant's Pension Plan benefits commence while the
Participant is employed by the Controlling Company or any Affiliate, payments of
benefits under the Plan shall not commence or be made until after such
employment is terminated.

         5.7      Form of Benefit.

                  (a)      Normal Form of Benefit. Unless the Participant
otherwise elects hereunder, his Retirement Benefit shall be payable in the form
of a Single Life Annuity.

                  (b)      Optional Forms of Benefit. A Participant may elect,
by furnishing the Administrative Committee with written notification of such
election 90 or more days prior to the commencement of benefits hereunder, to
receive his Retirement Benefit in any form of payment then available under the
Pension Plan.

                  (c)      Level of Income Option. In addition to the forms of
payment available under the Pension Plan, a Participant may elect a level income
option, provided that his Retirement Benefit hereunder is sufficient, by
providing the Administrative Committee with written notification of such
election 90 or more days prior to commencement of benefits hereunder, to receive
payment of his Retirement Benefit in the form of an adjusted annuity of
equivalent Actuarial Value payable in a greater amount before such Participant
is eligible to first receive benefits under the Pension Plan and the Excess
Plan, so that the total income, including the sum of the benefits payable under
(i) this Plan, (ii) the Pension Plan and (iii) the Excess Plan to which the
Participant shall be entitled are as nearly uniform as possible both before and
after first becoming eligible for benefits under the Pension Plan and/or the
Excess Plan.

                  (d)      Cash Payments. All benefit payments hereunder shall
be made in cash.

                  (e)      Calculation of Benefit. The amount of any Retirement
Benefit paid in a form of benefit other than a Single Life Annuity shall be
Actuarially Equivalent to the Participant's Retirement Benefit expressed in the
form of a Single Life Annuity.

         5.8      Offset for Obligations to the Company.

                  Notwithstanding anything herein to the contrary, if a
Participant or Beneficiary has any outstanding obligation to any Affiliate
(whether or not such obligation is related to the Plan), the Administrative
Committee may cause the Accrued Benefit of such Participant or Beneficiary to be
reduced and offset by, and to be applied to satisfy, the amount of such
obligation.

         5.9      Taxes.

                  If the whole or any part of any Participant's or Beneficiary's
benefit hereunder shall become subject to any estate, inheritance, income,
employment or other tax which the Participating Company shall be required to pay
or withhold, the Participating Company shall have the full power and authority
to withhold and pay such tax out of any monies or other property in its hand for
the account of the Participant or Beneficiary whose interests hereunder are so
affected (including, without limitation, by reducing and offsetting the
Participant's or Beneficiary's Accrued Benefit).

                                       10
<PAGE>

Prior to making any payment, the Participating Company may require such releases
or other documents from any lawful taxing authority as it shall deem necessary.

         5.10     Errors and Omissions in Benefits.

                  When an error or omission is discovered in the computation of
any benefit payable to a Participant or Beneficiary, the Administrative
Committee may direct the Trustee to make equitable adjustments as of the
earliest practicable date following the discovery of the error or omission.

         5.11     Change in Control.

                  Upon a Change in Control, a Participant's Accrued Benefit
shall become 100% fully vested and the Actuarial Equivalent lump-sum value of a
Participant's vested Accrued Benefit shall be immediately paid to the
Participant in a single lump-sum cash payment within thirty (30) days following
the Change in Control; provided that Participants shall be entitled to act at
any time during the 10-day period following a Change in Control (prior to
receiving payment) not to receive such lump-sum payment and to instead leave the
Accrued Benefit with the Plan. A Participant's Accrued Benefit under the Plan
following the Change in Control shall be reduced by the Actuarial Equivalent of
the amount, if any, of such lump-sum payment received by Participant pursuant to
this Section.

                                       11
<PAGE>

                                   ARTICLE VI
                                 DEATH BENEFITS

         6.1      Death Benefit Prior to Commencement.

                  (a)      General Rule. Except as provided in subsections (b),
(c) and (d) hereof, no death benefits shall be paid upon the death of a
Participant if such Participant had not yet attained his Benefit Commencement
Date.

                  (b)      Prior to Early Retirement Age. In the event a
Participant who has 5 Years of Service dies before attaining Early Retirement
Age, his surviving spouse, if any, shall be entitled to receive a death benefit
equal to the survivor annuity that would have been payable if:

                           (1)      the Participant's Benefit Commencement Date
         for his Retirement Benefit was the date he attained Early Retirement
         Age; and;

                           (2)      the Participant's Retirement Benefit was
         payable in the form of a Joint and 100% Survivor Annuity.

Such death benefit shall commence to be paid on the date the Participant would
have attained his Early Retirement Age.

                  (c)      After Early Retirement Age. In the event a
Participant who has attained his Early Retirement Age and has 5 Years of Service
dies before payment of his Retirement Benefit commences, his surviving spouse,
if any, shall be entitled to receive a death benefit equal to the survivor
annuity that would have been payable if the Participant's Retirement Benefit was
payable in the form of a Joint and 100% Survivor Annuity commencing immediately.

                  (d)      Death Before Distribution. In the event a Participant
who has attained his Early Retirement Age and has 5 Years of Service upon
Termination of Employment dies after Termination of Employment but before
payment of his Retirement Benefit commences, the surviving spouse, if any, shall
be entitled to receive a death benefit equal to the survivor annuity that would
have been payable if the Participant's Retirement Benefit was payable in the
form of a Qualified Joint and Survivor Annuity commencing immediately.

                  (e)      Adjustment for Early Commencement. If the death
benefit payable under this Section is scheduled to commence before the date that
would have been the Participant's Normal Retirement Date, the adjustment for
early commencement provided in Section 5.3 shall be applied to reduce the amount
of this death benefit.

         6.2      Death Benefit After Commencement.

                  In the event a Participant dies after commencing payment of
his Retirement Benefits, the death benefit shall be the benefit payable (if any)
in accordance with the form of benefit in effect under Section 5.7. If the
commencement is delayed, retroactive payments without interest shall be paid as
soon as practicable for any benefit payments due prior to the actual
commencement of the benefits.

                                       12
<PAGE>

         6.3      Forfeiture of Benefits At Death.

                  At the Participant's death, the value of any portion of the
Participant's Retirement Benefit not to be paid as a death benefit under this
Article VI shall be forfeited. Upon the death of a Participant's Beneficiary
after the Participant's death, the value of any portion of the Participant's
Retirement Benefit that otherwise would have been used to make continuing
survivor annuity payments shall be forfeited. If a Beneficiary to whom a
survivor annuity is payable dies prior to the commencement of the survivor
annuity, no survivor annuity payments shall be made.

                                       13
<PAGE>

                                  ARTICLE VII
                             BENEFICIARY DESIGNATION

         7.1      Generally.

                  A Participant shall designate a Beneficiary or Beneficiaries
who, upon the Participant's death, will receive the amounts that were otherwise
due and payable to the Participant prior to his death. All such designations
shall be in writing and signed by the Participant. The Participant also may
change his Beneficiary or Beneficiaries by a signed, written instrument
delivered to the Administrative Committee. The payment of amounts shall be in
accordance with the last unrevoked written designation of a Beneficiary that was
signed and delivered to the Administrative Committee. For purposes of this Plan,
the term "Beneficiary" means, the person or persons designated under Sections
7.2 or 7.3 below, as applicable.

         7.2      Unmarried Participants.

                  Each unmarried Participant may designate a Beneficiary or
Beneficiaries to receive the amounts that were otherwise due and payable to the
Participant prior to his death. Such designation shall not be effective unless
it is made on a form provided for that purpose by the Administrative Committee
during the Participant's lifetime. The Participant may, from time to time during
the Participant's lifetime, on a form approved by and filed with the
Administrative Committee, change his Beneficiary or Beneficiaries.

         7.3      Married Participants.

                  The Beneficiary of each Participant who is married shall be
the surviving spouse of such Participant, unless the Participant, with the
spouse's written consent, designates another Beneficiary or Beneficiaries. Each
married Participant may, from time to time during the Participant's lifetime, on
a form approved by and filed with the Administrative Committee, change his
designation of Beneficiaries but only if his spouse consents in writing to such
Beneficiary designation on a form supplied by the Administrative Committee.

                                       14
<PAGE>

                                  ARTICLE VIII
                                     CLAIMS

         8.1      Claims.

                  (a)      Initial Claim. Claims for benefits under the Plan may
be filed in writing with the Administrative Committee on forms or in such other
written documents as the Administrative Committee may prescribe. The
Administrative Committee shall furnish to the claimant written notice of the
disposition of a claim within 30 days after the application therefor is filed;
provided, if special circumstances require an extension of time for processing
the claim, the Administrative Committee shall furnish written notice of the
extension to the claimant prior to the end of the initial 30-day period, and
such extension shall not exceed one additional, consecutive 90-day period. In
the event the claim is denied, the notice of the disposition of the claim shall
provide the specific reasons for the denial, citations of the pertinent
provisions of the Plan, and, where appropriate, an explanation as to how the
claimant can perfect the claim and/or submit the claim for review.

                  (b)      Appeal. Any Participant or Beneficiary who has been
denied a benefit shall be entitled, upon request to the Administrative
Committee, to appeal the denial of his claim. The claimant (or his duly
authorized representative) may review pertinent documents related to the Plan
and in the Administrative Committee's possession in order to prepare the appeal.
The request for review, together with a written statement of the claimant's
position, must be filed with the Administrative Committee no later than 30 days
after receipt of the written notification of denial of a claim provided for in
subsection (a). The Administrative Committee's decision shall be made within 60
days following the filing of the request for review; provided, if special
circumstances require an extension of time for processing the appeal, the
Administrative Committee shall furnish written notice of the extension to the
claimant prior to the end of the initial 60-day period, and such extension shall
not exceed one additional 60-day period. If unfavorable, the notice of the
decision shall explain the reasons for denial and indicate the provisions of the
Plan or other documents used to arrive at the decision.

                  (c)      Satisfaction of Claims. Any payment to a Participant
or Beneficiary shall to the extent thereof be in full satisfaction of all claims
hereunder against the Administrative Committee and all Participating Companies,
any of whom may require such Participant or Beneficiary, as a condition to such
payment, to execute a receipt and release therefor in such form as shall be
determined by the Administrative Committee or the Participating Companies. If
receipt and release is required but the Participant or Beneficiary (as
applicable) does not provide such receipt and release in a timely enough manner
to permit a timely distribution in accordance with the general timing of
distribution provisions in the Plan, the payment of any affected distribution
may be delayed until the Administrative Committee or the Participating Companies
receive a proper receipt and release.

                                       15
<PAGE>

                                   ARTICLE IX
                                 SOURCE OF FUNDS

         9.1      Source of Funds.

                  (a)      Allocation among Affiliates. The obligation to pay
benefits hereunder shall be the obligation of the Controlling Company and its
Affiliates that participate in the Plan and whose employees are Participants
entitled to benefits hereunder. The Administrative Committee shall allocate the
total liability to pay benefits under the Plan among the Controlling Company and
its Affiliates that participate in the Plan in such manner and amount as the
Administrative Committee in its sole discretion deems appropriate.

                  (b)      General Creditors. Each of the Controlling Company
and its Affiliates shall provide the benefits described in the Plan and
allocable to such entity pursuant to the terms of subsection (a) hereof from its
general assets. The Controlling Company's and Affiliates' obligations to pay
benefits under the Plan constitute mere promises of the Controlling Company and
its Affiliates to pay such benefits; and a Participant or Beneficiary shall be
and remain no more than an unsecured, general creditor of the Controlling
Company.

         9.2      Trust.

                  To the extent that the Controlling Company uses a Trust to
fund benefits hereunder, the following provisions shall apply:

                  (a)      Establishment. To the extent determined by the
Controlling Company, the Participating Companies shall transfer the funds
necessary to fund benefits accrued hereunder to the Trustee to be held and
administered by the Trustee pursuant to the terms of the Trust Agreement. Except
as otherwise provided in the Trust Agreement, each transfer into the Trust Fund
shall be irrevocable as long as a Participating Company has any liability or
obligations under the Plan to pay benefits, such that the Trust property is in
no way subject to use by the Participating Company; provided, it is the intent
of the Controlling Company that the assets held by the Trust are and shall
remain at all times subject to the claims of the general creditors of the
Participating Companies.

                  (b)      Distributions. Pursuant to the Trust Agreement, the
Trustee shall make payments to Plan Participants and Beneficiaries in accordance
with a payment schedule provided by the Participating Company. The Participating
Company shall make provisions for the reporting and withholding of any federal,
state or local taxes that may be required to be withheld with respect to the
payment of benefits pursuant to the terms of the Plan and shall pay amounts
withheld to the appropriate taxing authorities or determine that such amounts
have been reported, withheld and paid by the Participating Company.

                  (c)      Status of the Trust. No Participant or Beneficiary
shall have any interest in the assets held by the Trust or in the general assets
of the Participating Companies other than as a general, unsecured creditor.
Accordingly, a Participating Company shall not grant a security interest in the
assets held by the Trust in favor of the Participants, Beneficiaries or any
creditor.

                                       16
<PAGE>

                                   ARTICLE X
                        RIGHTS AND DUTIES UNDER THE PLAN

         10.1     Membership of the Administrative Committee.

                  The Administrative Committee shall consist of at least three
members. Any member of the Administrative Committee may resign by delivering his
or her written resignation to the secretary of the Controlling Company; the
resignation shall become effective when received by the secretary of the
Controlling Company (or at any other time agreed upon by the member and the
Board). The Board may remove any member of the Administrative Committee at any
time, with or without cause, upon notice to the member being removed; provided
that if any individual member of the Administrative Committee is an Employee of
an Affiliate, his or her membership on the Administrative Committee shall
terminate automatically upon his or her termination of employment unless the
Controlling Company specifies otherwise. Notice of the appointment, resignation,
or removal of a member of the Administrative Committee shall be given by the
Board to the members of the Administrative Committee.

         10.2     Administrative Committee Organization and Action.

                  The Administrative Committee shall be organized and shall take
action in a manner provided under the Administrative Committee's By-Laws and/or
such other rules as may from time to time be adopted by or for the
Administrative Committee. A vote of a majority of the members of the
Administrative Committee shall be required for any action by the Administrative
Committee. Resolutions may be adopted or other action taken without a meeting
upon the written consent of all members of the Administrative Committee. Any
person dealing with the Administrative Committee shall be entitled to rely upon
a certificate of any member of the Administrative Committee, or its secretary,
as to any act or determination of the Administrative Committee.

         10.3     Rights and Duties of Administrative Committee.

                  The Administrative Committee shall administer the Plan and
shall have all the powers and full discretion necessary to accomplish that
purpose, including (but not limited to) the following:

                  (a)      To construe, interpret and administer the Plan;

                  (b)      To make determinations required by the Plan, and to
maintain records regarding Participants' and Beneficiaries' benefits hereunder;

                  (c)      To compute and certify to the Participating Company
the amount and kinds of benefits payable to Participants and Beneficiaries, and
to determine the time and manner in which such benefits are to be paid;

                  (d)      To authorize all disbursements by the Participating
Company pursuant to the Plan;

                  (e)      To maintain all the necessary records of the
administration of the Plan;

                                       17
<PAGE>

                  (f)      To make and publish such rules for the regulation of
the Plan as are not inconsistent with the terms hereof;

                  (g)      To have all powers elsewhere conferred upon it;

                  (h)      To designate, from time to time, the Trustee;

                  (i)      To delegate to other individuals or entities from
time to time the performance of any of its duties or responsibilities hereunder;
and

                  (j)      To hire agents, accountants, actuaries, consultants
and legal counsel to assist in operating and administering the Plan.

         10.4     Compensation, Indemnity and Liability.

                  The Administrative Committee and its members shall serve as
such without bond and without compensation for services hereunder. All expenses
of the Administrative Committee shall be paid by the Participating Companies. No
member of the Administrative Committee shall be liable for any act or omission
of any other member of the Administrative Committee, or for any act or omission
on his own part, excepting his own willful misconduct. The Participating
Companies shall indemnify and hold harmless the Administrative Committee and
each member thereof against any and all expenses and liabilities, including
reasonable legal fees and expenses, arising out of his membership on the
Administrative Committee, excepting only expenses and liabilities arising out of
his own willful misconduct. Notwithstanding the foregoing, the Participating
Companies shall not indemnify any person for any such amount incurred through
any settlement or compromise of any action unless the Controlling Company
consents in writing to such settlement or compromise.

                                       18
<PAGE>

                                   ARTICLE XI
                            AMENDMENT AND TERMINATION

         11.1     Amendments.

                  The Board or the Administrative Committee shall have the right
to amend the Plan in whole or in part at any time and from time to time;
provided, any amendment that may significantly change the design of the Plan or
increase the cost of benefits under the Plan must be approved by the Board. Any
amendment shall be in writing and executed by a duly authorized officer of the
Controlling Company or a member of the Administrative Committee, respectively.
An amendment to the Plan may modify its terms in any respect whatsoever;
provided, no amendment may decrease the level of the Accrued Benefits which a
Participant or Beneficiary would be entitled to receive hereunder if he
terminated employment with the Controlling Company and all Affiliates on the
later of (i) the date such amendment is adopted, or (ii) the date such amendment
is effective. Notice of either (i) an amendment which significantly changes the
Plan design or benefit formula or (ii) termination, shall be given in writing to
each Participant and Beneficiary of a deceased Participant having an interest in
the Plan. Any of the provisions of this Article 11 to the contrary
notwithstanding, if the Board shall amend the Plan in a manner which results in
all or any portion of the benefits under the Plan being taxable hereunder prior
to the date of payment specified herewith, the Board shall have the authority to
amend the benefit formula hereunder to contain such adjusted benefit amount
hereunder as the Board in its discretion shall determine to be equitable to
provide Participant an accelerated after-tax benefit hereunder reasonably
expected to be equal to the after-tax benefit hereunder without such amendment.

         11.2     Termination of Plan.

                  The Controlling Company expects to continue the Plan, but
reserves the right to discontinue and terminate the Plan at any time. Any action
to terminate the Plan shall be taken by the Board in the form of a written Plan
amendment executed by a duly authorized officer of the Controlling Company. If
the Plan is terminated, such discontinuance or termination shall not have the
effect of decreasing the level of benefits which a Participant would be entitled
to receive hereunder if he terminated employment with the Controlling Company
and all Affiliates on the later of (i) the date the resolution to terminate and
discontinue the Plan is adopted, or (ii) the date the termination and
discontinuance is effective. Termination and discontinuance of the Plan shall be
binding on all Participants and Beneficiaries.

                                       19
<PAGE>

                                  ARTICLE XII
                                  MISCELLANEOUS

         12.1     Taxation.

                  It is the intention of the Controlling Company that the
benefits payable hereunder shall not be deductible by the Participating
Companies or taxable for federal income tax purposes to Participants or
Beneficiaries until such benefits are paid by the Participating Companies, or
the Trust, as the case may be, to such Participants or Beneficiaries. When such
benefits are so paid, it is the intention of the Controlling Company that they
shall be deductible by the Participating Companies under Code Section 162.

         12.2     Contractual Obligation.

                  It is intended that the Participating Companies be under a
contractual obligation to pay Accrued Benefits when due. Payment of Accrued
Benefits under this Plan shall be made out of the Participating Companies'
general assets.

         12.3     No Employment Contract.

                  Nothing herein contained is intended to be nor shall be
construed as constituting a contract or other arrangement between the
Controlling Company or any Participating Company and any Participant to the
effect that the Participant will be employed by a Participating Company for any
specific period of time.

         12.4     Headings.

                  The headings of the various articles and sections in the Plan
are solely for convenience and shall not be relied upon in construing any
provisions hereof. Any reference to a section shall refer to a section of the
Plan unless specified otherwise.

         12.5     Gender and Number.

                  Use of any gender in the Plan will be deemed to include both
genders when appropriate, and use of the singular number will be deemed to
include the plural when appropriate, and vice versa in each instance.

         12.6     Successors.

                  The Controlling Company and the Participating Companies shall
require any successor (whether direct or indirect, by purchase, merger,
consolidation or otherwise) to all or substantially all of the business and/or
assets of the Controlling Company and/or the Participating Companies to
expressly assume the obligations hereunder in the same manner and to the same
extent that the Controlling Company and the Participating Companies would be
required to perform if no such succession had taken place.

                                       20
<PAGE>

         12.7     Assignment of Benefits.

                  The right of a Participant or Beneficiary to receive payments
under the Plan shall not be anticipated, alienated, sold, assigned, transferred,
pledged, encumbered, attached or garnished by creditors of such Participant or
Beneficiary except by will or by the laws of descent and distribution and then
only to the extent permitted under the terms of the Plan.

         12.8     Legally Incompetent.

                  The Administrative Committee, in its sole discretion, may
direct that payment be made to an incompetent or disabled person, whether
because of minority or mental or physical disability, to the guardian of such
person or to the person having custody of such person, without further liability
either on the part of the Controlling Company or the Participating Companies for
the amount of such payment to the person on whose account such payment is made.

         12.9     Governing Law.

                  The Plan shall be construed, administered and governed in all
respects in accordance with applicable federal law (including ERISA) and, to the
extent not preempted by federal law, in accordance with the laws of the State of
Alabama. If any provisions of this instrument shall be held by a court of
competent jurisdiction to be invalid or unenforceable, the remaining provisions
hereof shall continue to be fully effective.

         12.10    Severability.

                  If any part of the Plan is declared by any court or
governmental authority to be unlawful or invalid, such unlawfulness or
invalidity shall not invalidate any other part of the Plan. Any section or part
of a section so declared to be unlawful or invalid shall, if possible, be
construed in a manner which will give effect to the terms of such section or
part of a section to the fullest extent possible while remaining lawful and
valid.

         12.11    Other Plans.

                  No benefit payable hereunder shall be deemed compensation to
the Participant for the purposes of computing benefits to which such Participant
may be entitled under the Pension Plan, the Excess Plan, the Russell Corporation
401(k) Retirement Savings Plan, the Russell Corporation Flexible Deferral Plan
or any other plan or arrangement of the Company for the benefit of its
employees.

                                       21
<PAGE>

         IN WITNESS WHEREOF, the Controlling Company has caused the Plan to be
executed by its duly authorized officer on the date first written above.

                                    RUSSELL CORPORATION

                                    By:
                                       --------------------------

                                    Title:
                                          -----------------------

                                       22
<PAGE>

                                   SCHEDULE A

                                  PARTICIPANTS

Active Participants as of January 1, 2002
Cheryl Barre
Floyd Hoffman
Eric Hoyle
Thomas Johnson, Jr.
Robert Keller
Jon Letzler
Carol Mabe
Robert Martin
Matt Mirchin
Scott Mosteller
Dan Peterson
Joe Pinkston
Gil Roberts
J. T. Taunton
John Ward

Inactive Participants as of January 1, 2002
Dale Wachtel

                                       A-1
<PAGE>

                                   SCHEDULE B

                   PARTICIPATING COMPANIES AND EFFECTIVE DATES

<TABLE>
<CAPTION>
Company Names                                                           Effective Date
-------------                                                 ----------------------------------
<S>                                                           <C>
Russell Corporation                                           January 1, 2001
Alexander City Flying Service, Inc.                           February 23, 2000
Cross Creek Apparel, LLC                                      December 30, 2000
Cross Creek Holdings, Inc.                                    February 23, 2000
DeSoto Mills, Inc.                                            February 23, 2000
Jerzees Apparel, LLC                                          August 8, 2000
Mossy Oak Apparel, Inc.                                       March 20, 2000
RINTEL Properties, Inc.                                       February 23, 2000
Russell Apparel, LLC                                          February 23, 2000
Russell Asset Management, Inc.                                February 23, 2000
Russell Athletic West, Inc.                                   February 23, 2000
Russell Athletic, Inc.                                        February 23, 2000
Russell Financial Services, Inc.                              February 23, 2000
Russell Functional Systems, Inc.                              June 12, 2001 - December 28, 2001
Russell Servicing Co., Inc.                                   October 2, 1998
Russell Yarn, LLC                                             April 30, 2001 - December 31, 2001
</TABLE>

                                       B-1

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