Document:

<PAGE> 96

                                                               EXHIBIT 10(i)

                SUPPLEMENTAL RETIREMENT BENEFIT AGREEMENT

     THIS AGREEMENT is made as of __________________, 1999, between Greif
Bros. Corporation, a Delaware corporation ("Greif Bros.") and
_________________________ ("Executive").

BACKGROUND INFORMATION

     A.   The Executive is a key employee of Greif Bros. and it is expected
that he will continue to contribute substantially to the growth and success
of Greif Bros. during his employment.  In order to assure to Greif Bros.
the continued benefit of the experience, advice, ability and services of
the Executive, Greif Bros. is willing to provide to the Executive, on the
terms and conditions set forth herein, the supplemental retirement benefits
described in this Agreement, in consideration of the execution of a
confidentiality and non-competition agreement.

     B.   Greif Bros. maintains the Greif Bros. Corporation Employees'
Retirement Income Plan (the "Pension Plan"), a qualified defined benefit
pension plan under Sections 401(a) and 501(a) of the Internal Revenue Code
of 1986, as amended (the "Code"), for certain employees of Greif Bros.

     C.   Sections 401(a)(17) and 415 of the Code place certain limitations
on the amount of benefits that would otherwise be made available under the
Pension Plan for certain participants, including the Executive.

     D.   This Agreement is intended to provide a supplemental retirement
benefit to the Executive in excess of the benefits provided under the
Pension Plan.

AGREEMENT

     Greif Bros. and the Executive acknowledge the accuracy of the
foregoing Background Information and agree as follows:

<PAGE> 97

                                                               EXHIBIT 10(i)
                                                                 (continued)

ARTICLE I - DEFINITIONS

     Words and phrases used herein with initial capital letters which are
defined in the Pension Plan are used herein as so defined, unless otherwise
specifically defined herein or the context clearly indicates otherwise.
The following words and phrases when used in this Agreement with initial
capital letters shall have the following respective meanings, unless the
context clearly indicates otherwise.

     Section 1.1.  Actual Pension Plan Benefit.  The amount of the annual
benefit under the Pension Plan that that is actually payable to the
Executive or his Beneficiary.

     Section 1.2.  Cause.  Termination of the Executive's employment due to
any act which, in the sole discretion of Greif Bros., is deemed to be
detrimental to the best interests of Greif Bros., including, but not
limited to (a) serious, willful misconduct in respect of his duties for
Greif Bros., (b) conviction of a felony or perpetration of a common law
fraud, (c) willful failure to comply with applicable laws with respect to
the execution of the business operations of Greif Bros., (d) theft, fraud,
embezzlement, dishonesty or other willful conduct which has resulted in
economic damage to Greif Bros., or (e) failure to comply with the drug and
alcohol abuse policies, if any, of Greif Bros.

     Section 1.3.  Change in Control.   A Change in Control shall occur
upon (a) the purchase or other acquisition by any person, entity or group
of persons (within the meaning of Section 13(d) or 14(d) of the Securities
Exchange Act of 1934 ("Act"), or any comparable successor provisions),
directly or indirectly, which results in the beneficial ownership (within
the meaning of Rule 13d-3 promulgated under the Act) of such person, entity
or group of persons equaling 30% or more of either the outstanding common
shares of Greif Bros. or the combined voting power of the then-outstanding
securities of Greif Bros. entitled to vote in the election of the Board of
Directors, or (b) the approval by the shareholders of Greif Bros. of a
reorganization, merger, or consolidation, with respect to which in each
case persons who were shareholders of Greif Bros. immediately prior to such
reorganization, merger or consolidation do not (solely because of their
common shares of Greif Bros. owned immediately prior to such
reorganization, merger, or consolidation) immediately thereafter, own more
than 50% of the combined voting power entitled to vote in the election of
directors of the then-outstanding securities of the reorganized, merged or
consolidated company, or (c) a liquidation or dissolution of Greif Bros.,
or (d) the sale of all or substantially all of the assets of Greif Bros.

<PAGE> 98

                                                               EXHIBIT 10(i)
                                                                 (continued)

     Section 1.4.  Controlled Group.  Greif Bros. and any corporation or
other trade or business which, together with Greif Bros., is "under common
control" within the meaning of Code Section 414(b) or (c), as modified by
Code Section 415(h), where applicable; any organization (whether or not
incorporated) which, together with Greif Bros., is a member of an
"affiliated service group" within the meaning of Code Section 414(m); and
any other entity required to be aggregated with Greif Bros. pursuant to
Code Section 414(o).

     Section 1.5.  Disability.  The Executive's disability as determined
under a long-term disability plan maintained by Greif Bros. covering such
Executive.

     Section 1.6.  Good Reason.  One or more of the following actions by
Greif Bros. leading to the Executive's voluntary termination:  (a) material
breach of the terms of any employment agreement with the Executive that is
not "cured" by Greif Bros. within 30 days of notice thereof, (b) failure of
a successor or assign of Greif Bros. to assume liability under this
Agreement or an employment agreement with the Executive, or (c) material
reduction in the salary, duties or status of the Executive's position
within Greif Bros.

     Section 1.7.  Maximum Target Bonus.  The amount of a bonus (not to
exceed 100% of the target amount) that may be paid to the Executive based
on a performance goal target for the Plan Year, as set by the Board of
Directors of Greif Bros.

ARTICLE II- SUPPLEMENTAL RETIREMENT BENEFITS

     Section 2.1.  Purpose of Agreement.  The purpose of this Agreement is
to provide supplemental retirement benefits (the "Supplemental Benefits")
to the Executive.  The Executive is a member of a select group of
management and highly compensated employees of Greif Bros.  The
Supplemental Benefits are designed to replace any benefits reduced under
the Pension Plan that the Executive would otherwise receive if not for (a)
the limitations on benefits imposed by Section 415 of the Code and/or (b)
the limitations on compensation considered under the Pension Plan imposed
by Section 401(a)(17) of the Code.

<PAGE> 99

                                                              EXHIBIT 10(i)
                                                                (continued)

     Section 2.2.  Amount and Duration of Supplemental Benefits. The amount
of Supplemental Benefits payable to the Executive under this Agreement
shall equal the difference between (a) the amount of the benefit payable,
expressed as an annual benefit amount, to the Executive under the Pension
Plan, determined under the terms of the Pension Plan in effect on the date
of the Executive's termination of employment with the Controlled Group but
calculated as if the Pension Plan did not contain the limitations of Code
Sections 401(a)(17) and 415, and (b) the amount of the Actual Pension Plan
Benefit.

     The annual amount of Supplemental Benefits shall be paid for a period
of years equal to the Executive's Years of Service, as determined under the
Pension Plan, not to exceed fifteen (15) years.

     Except as otherwise provided herein, the Executive's Supplemental
Benefits under this Agreement shall be computed in accordance with the
benefit formula and actuarial assumptions, methods and procedures
applicable under the Pension Plan and shall be based on the normal benefit
form under the Pension Plan at the date of the Executive's actual
retirement.

     Section 2.3.  Compensation.  For purposes of calculating the
Supplemental Benefits set forth in Section 2.2, Annual Compensation shall
be determined in accordance with the Pension Plan; provided, however, that
the amount of any bonus that is taken into account for purposes of
determining Annual Compensation shall be limited to an amount equal to 50%
of the Maximum Target Bonus.  In addition, Average Annual Compensation for
the Executive shall be determined as the period of thirty-six consecutive
months during the five consecutive Plan Years immediately preceding the
Executive's termination of employment during which the average of the
Executive's Annual Compensation is highest.  In the calculation of such
Average Annual Compensation, in no event shall the thirty-six month period
take into account more than three annual bonus payments.  To the extent
that such thirty-six month period would otherwise include more than three
annual bonus payments, all bonus payments after the first three annual
bonus payments included in such thirty-six month period (calculated from
the beginning of such thirty-six month period) shall be excluded from the
definition of Average Annual Compensation.

     Section 2.4.  Form of Executive's Benefits.  At the time the
Executive's Supplemental Benefits under this Agreement become payable, such
benefits shall be paid in the form of quarterly installments.  Greif Bros.
expressly reserves the right to alter the payment frequency or method in
effect from time to time in its sole discretion as necessary or desirable.
Notwithstanding the foregoing, if a Change in Control occurs, Greif Bros.
may under no circumstances and for no reason extend the payment period
beyond, or delay the commencement of payments to a date later than, the
time otherwise specifically provided under this Agreement.

<PAGE> 100

                                                               EXHIBIT 10(i)
                                                               (continued)

     Section 2.5.  Commencement of Benefits.  Payment of the Executive's
Supplemental Benefits shall commence on the same date as payments of the
benefits under the Pension Plan to the Executive commence.  Any election
made by the Executive under the Pension Plan with respect to the
commencement of payment of benefits under the Pension Plan shall also be
applicable with respect to the commencement of payment of amounts payable
as Supplemental Benefits under this Agreement.

     Section 2.6.  Vesting and Forfeiture.  The Executive shall be vested
in his Supplemental Benefits upon attainment of Early Retirement Age,
Normal Retirement Age, death or Disability.  In addition, upon termination
of the Executive within the two year period following a Change in Control,
either by the Executive for Good Reason, or by Greif Bros. other than for
Cause, the Executive shall be vested in the Supplemental Benefits payable
under the Agreement.

     If the Executive is terminated for Cause or for a violation of his
confidentiality and non-competition agreement, all Supplemental Benefits
under this Agreement shall be forfeited.  To the extent that the Executive
has commenced payments under the Agreement, all remaining installment
payments under the Agreement shall cease and be forfeited upon a violation
of the Executive's confidentiality and non-competition agreement.

     Section 2.7.  Actuarial Equivalent.  The amount of the Supplemental
Benefits payable under the Agreement in the form set forth in Section 2.2,
or the determination of the amount of Supplemental Benefits which are
payable if payment commences at any time prior to a Executive's Normal or
Early Retirement Age, as defined by the Pension Plan, shall be the
actuarial equivalent of the amount of Supplemental Benefits payable in the
normal benefit form at the applicable retirement date, determined using the
same actuarial assumptions as set forth in the Pension Plan.

     Section 2.8.  Death Benefits.  In the event of the death of the
Executive while receiving benefit payments under any provision of this
Agreement, Greif Bros. shall pay the remaining payments due under this
Agreement in accordance with the method of distribution in effect on the
date of the Executive's death to the Executive's surviving spouse, if any.
In the event of the death of the Executive prior to the commencement of the
distribution of benefits under this Agreement, Greif Bros. shall pay a
death benefit under this Agreement to the Executive's surviving spouse, if
any, based on the benefit that would have been payable to the Executive
under this Agreement.  Such death benefit shall be payable at the time when
the death benefit (if any) under the Pension Plan becomes payable to the
Executive's surviving spouse under the Pension Plan, and shall be payable
for the number of years such benefits would have been payable to the
Executive but not beyond the surviving spouse's death.  If the Executive is
not survived by a spouse, no death benefit shall be payable under this
Agreement.

<PAGE> 101

                                                               EXHIBIT 10(i)
                                                                 (continued)

ARTICLE III - MISCELLANEOUS

     Section 3.1.  Right to Assets.  Nothing contained in this Agreement
and no action taken pursuant to the provisions of this Agreement shall
create or be construed to create a trust that is not subject to the claims
of any unsecured general creditors of Greif Bros., or a fiduciary
relationship between Greif Bros. and the Executive or any other person.  If
Greif Bros. elects to purchase insurance policies or otherwise invest any
funds in connection with this Agreement, all such policies or other
investments shall continue for all purposes to be a part of the general
assets of Greif Bros., and no person other than Greif Bros. shall, by
virtue of the provisions of this Agreement, have any interest in such
funds.  Greif Bros. shall be the sole named beneficiary of any insurance
policies purchased by Greif Bros. on the life of the Executive.  To the
extent that the Executive, the surviving spouse or any other person
acquires a right to receive payments from Greif Bros. under this Agreement,
such right shall be no greater than the right of any unsecured general
creditor of Greif Bros.

     Section 3.2.  Assignment and Alienation Prohibited.  Neither an
Executive nor his surviving spouse shall have the power or right to
transfer, assign, anticipate, hypothecate, mortgage, commute, modify, or
otherwise encumber, in advance, any of the benefits payable hereunder, nor
shall any of said benefits be subject to seizure for the payment of any
debts, judgments, alimony or separate maintenance owed by the Executive or
his surviving spouse, nor be transferable by operation of law in the event
of bankruptcy, insolvency, or otherwise.  In the event the Executive or his
surviving spouse attempts assignment, commutation, hypothecation, transfer,
or disposal of the benefits hereunder, the liabilities of Greif Bros. shall
forthwith cease and terminate.

     Section 3.3.  Revocation.  During the lifetime of the Executive, this
Agreement may be amended or revoked at any time or times, in whole or in
part, by Greif Bros. in its sole discretion.  However, unless the parties
agree otherwise, in the event of a modification or revocation, the
Executive shall be entitled to the Supplemental Benefits, if any, that have
accrued through the date of such amendment or revocation.  Such benefits
shall be payable at such times and in such amounts as provided in this
Agreement.

<PAGE> 102

                                                               EXHIBIT 10(i)
                                                                 (continued)

     Section 3.4.  Effect On Other Greif Bros. Benefit Plans.  Nothing
contained in this Agreement shall affect the right of the Executive to
participate in or be covered by any qualified or non-qualified pension,
profit-sharing, group, bonus, or other supplemental compensation or fringe
benefit plan constituting a part of the existing or future compensation
structure of Greif Bros.  Except as otherwise expressly provided herein,
all terms and conditions applicable to an Executive's benefit under the
Pension Plan shall be applicable to the Executive's benefit under this
Agreement.  Any benefit payable to the Executive under the Pension Plan
shall be paid solely in accordance with the terms and conditions of the
Pension Plan, and nothing in this Agreement shall operate or be construed
to modify, amend or affect the terms and conditions of the Pension Plan.

     Section 3.5.  Interpretation.  Greif Bros. shall have full power and
authority to interpret, construe, and administer this Agreement, and the
interpretation and construction thereof and actions thereunder by Greif
Bros., including any valuation of the Executive's Supplemental Benefits and
the determination of the amount or recipient of the payments to be made
with respect thereto, shall be binding and conclusive on all persons for
all purposes.  No trustee, employee or agent of Greif Bros. shall be liable
to any person for any action taken or omitted in connection with the
interpretation and administration of this Agreement.  Whenever, under this
Agreement, benefits are to be payable quarterly, the calculation of such
quarterly benefit payments shall be made under any method deemed reasonable
by Greif Bros., in its sole discretion.  Greif Bros. shall be entitled to
rely conclusively upon all tables, valuations, certificates, opinions and
reports furnished by any actuary, accountant, controller, counsel or other
person employed or engaged by Greif Bros. with respect to the Pension Plan
and/or to this Agreement.

     Section 3.6.  Binding Effect.  This Agreement shall be binding upon
and inure to the benefit of Greif Bros., its successors and assigns, and
the Executive and his heirs, executors, administrators, and legal
representatives.

     Section 3.7.  Entire Agreement.  This Agreement represents and
embodies the entire agreement and understanding of the parties with respect
to the subject matter hereof and supersedes all prior and contemporaneous
documents and understandings relative to this subject matter.

     Section 3.8.  Agreement Not a Contract of Employment.  The Executive's
right to benefits under this Agreement shall not be construed or
interpreted to constitute or create a contract of employment between Greif
Bros. (or any affiliate) and the Executive, and nothing contained herein
shall be deemed to confer on the Executive the right to be employed by
Greif Bros. (or any affiliate).

<PAGE> 103

                                                               EXHIBIT 10(i)
                                                                 (concluded)

     Section 3.9.  Liability.  No member of the Board of Directors and no
officer or employee of Greif Bros. shall be liable to any person for
actions taken or omitted in connection with this Agreement unless
attributable to fraud, nor shall Greif Bros. be liable to any person for
actions taken or omitted with respect to this Agreement unless attributable
to fraud on the part of any officer, trustee or employee of Greif Bros.

     Section 3.10.  Gender.  Whenever in this Agreement words are used in
the masculine or neuter gender, they shall be read and construed as in the
masculine, feminine or neuter gender whenever they should so apply.

     Section 3.11.  Headings.  Headings and subheadings in this Agreement
are inserted for reference and convenience only and shall not be deemed a
part of this Agreement.

     Section 3.12.  Applicable Law.  The validity and interpretation of
this Agreement shall be governed by the laws of the State of Ohio, to the
extent not superseded by federal law.

EXECUTIVE                          GREIF BROS. CORPORATION

                                   By:

                                   Title: Chairman and Chief Executive
                                          Officer

Date:                              Date:

Witness

WitnessExhibit 4.5

                              LA-Z-BOY INCORPORATED

                                REPLACEMENT PLAN

                             FOR LADD STOCK OPTIONS

                                         As adopted as of January 26, 2000

<PAGE>

                              LA-Z-BOY INCORPORATED
                                REPLACEMENT PLAN
                             FOR LADD STOCK OPTIONS

         THIS LA-Z-BOY INCORPORATED REPLACEMENT PLAN FOR LADD STOCK OPTIONS
(this "Plan") has been adopted by the Board of Directors (the "Board") of
La-Z-Boy Incorporated, a Michigan corporation (the "Company"), as of January 26,
2000 (the "adoption date"), in connection with the planned merger (the "Merger")
of LZB Acquisition Corp., a Michigan corporation and wholly-owned subsidiary of
the Company, with and into LADD Furniture, Inc., a North Carolina corporation
("LADD"), contemplated by that certain Agreement and Plan of Merger among the
Company, LZB Acquisition Corp., and LADD dated as of September 28, 1999, as
amended by Amendment No. 1 to that agreement, dated as of December 13, 1999 (as
so amended, the "Merger Agreement"), pursuant to which, at the time the Merger
becomes effective (the "Effective Time"), LADD is to become a wholly-owned
subsidiary of the Company.

         LADD has advised the Company that, from time to time prior to the
adoption of this Plan, LADD has granted options to acquire shares of its common
stock ("Predecessor Options") to persons eligible to receive them under its 1983
Incentive Stock Option Plan or its 1994 Incentive Stock Option Plan (either such
plan, a "Predecessor Plan"), some of which options are still outstanding, in
whole or in part, as of the adoption date and are expected to continue to be
outstanding up to the Effective Time. As of the adoption date, many of the
outstanding Predecessor Options are held by persons (including executive
officers of LADD) who are expected to continue to be employees of LADD or a LADD
subsidiary as of the Effective Time, but some of the outstanding Predecessor
Options are held by non-employee directors of LADD or by other persons who have
succeeded to the interests of an employee or non-employee director in accordance
with the terms of the plan under which the Predecessor Option was granted, none
of which holders are expected to have any employee or non-employee director
relationship with the Company, LADD, or any subsidiary of either at the
Effective Time.

         The parties to the Merger Agreement previously contemplated that each
Predecessor Option still outstanding immediately prior to the Effective Time
would be replaced at the Effective Time by an option to acquire shares of the
Company's common stock (a "Replacement Option") granted to the holder by the
Company in substitution for his Predecessor Option, each of which Replacement
Options would cover the number of shares of Company common stock and have a per
share exercise price determined in the manner contemplated by Section 1.04(a) of
the Merger Agreement, would be exercisable on the same exercisability schedule
that applied immediately before the Effective Time to the Predecessor Option for
which the Replacement Option was substituted (except that a Replacement Option
granted in substitution for a Predecessor Option held by a person who
immediately before the Effective Time was an executive officer or non-employee
director of LADD would be fully exercisable with respect to all covered shares
from the time the grant of the Replacement Option first becomes effective, even
if the relevant Predecessor Option by then would not have become fully
exercisable), and would otherwise have the same terms and conditions as those
that applied to the Predecessor Option for which the Replacement Option was

                                       1
<PAGE>

substituted or, if more favorable to the holder, the same as those that would
have applied to that Predecessor Option if it had been granted under the other
Predecessor Plan. The parties also contemplated that by the Effective Time all
of the Company common shares subject to Replacement Options would be registered
with the Securities and Exchange Commission ("SEC") under the Securities Act of
1933 on Form S-8, which form of registration statement becomes effective when
filed with the SEC.

         However, it recently has come to the attention of the parties that, in
the view of staff of the SEC, Form S-8 would not be a proper form for
registering shares subject to Replacement Options granted to holders who do not
have an employee or non-employee director relationship with LADD or a subsidiary
once LADD becomes a subsidiary of the Company ("Unrelated Holders"), and any
form appropriate for registration of shares subject to options granted to such
holders likely could not become effective by the Effective Time. In light of the
foregoing, the parties now contemplate that, instead of granting Replacement
Options to Unrelated Holders in substitution for their Predecessor Options, the
Company will grant them, for each such option, a stock appreciation right
covering units equal in number to the number of Company common shares that would
have been covered by the Replacement Option(s) that otherwise would have
granted, having a per unit strike price equal to the per share exercise price
that would have applied to that Replacement Option, and otherwise generally
having the same exercise and expiration terms as would have applied to that
Replacement Option, but which, upon proper exercise, would entitle the holder,
not to any Company common shares, but, rather, to a cash amount equal to the
excess, if any, of the exercise date fair market value (as defined in Section 5)
of a Company common share over the per unit strike price of the Replacement SAR,
multiplied by the number of units for which the Replacement SAR is being
exercised (a "Replacement SAR").

         This Plan is intended to provide the vehicle by which such
substitutions will occur.

Section 1.        Purpose

         The sole purpose of this Plan is to effect the substitution of
Replacement Options and Replacement SARs for Predecessor Options at the
Effective Time, as contemplated by the parties to the Merger Agreement.
Notwithstanding any other provision of this Plan to the contrary: no option,
stock appreciation right, or other award shall be granted under this Plan other
than Replacement Options and Replacement SARs; no grant of any kind shall be
made under this Plan after the Effective Time; and no grant of a Replacement
Option or Replacement SAR made before the Effective Time shall become effective
unless and until the Effective Time occurs.

Section 2.        Administration

         This Plan shall be administered by the Board or such committee or
subcommittee of the Board as the Board from time to time may designate (the
"Administrator"). The initial Administrator shall be the Compensation and Stock
Option Committee of the Board.

         Subject to the provisions of this Plan, the determinations or the
interpretation and construction of any provision of this Plan by the
Administrator shall be final and conclusive upon

                                       2
<PAGE>

all persons affected thereby. By way of illustration and not of limitation, the
Administrator shall have the discretion: (a) to construe and interpret the terms
of this Plan and of all Replacement Options and Replacement SARs granted under
this Plan; (b) to prescribe, amend, and rescind rules and regulations relating
to this Plan; (c) to determine such adjustments, if any, in the terms of then
outstanding Replacement Options and Replacement SARs as from time to time after
the Effective Time may be required by Section 12; (d) to determine whether a
leave of absence from employment will constitute termination of employment for
purposes of this Plan; (e) to correct any defect, supply any omission, or
reconcile any inconsistency in this Plan or in any Replacement Option or
Replacement SAR; and (f) to make all other determinations necessary or advisable
for the administration of this Plan. However, the authority of the Administrator
under this Plan does not extend to the grant of options, stock appreciation
rights, or other awards (the only awards authorized by this Plan being those
Replacement Options and Replacement SARs that automatically are being granted
under Section 4 coincident with the adoption of this Plan), nor may the
Administrator approve a reduction of the per share exercise price of any
Replacement Option or the per unit strike price of any Replacement SAR except as
contemplated by Section 12.

         Any action of the Administrator with respect to this Plan shall be
taken by a majority vote at a meeting of the Administrator or by written consent
of all of the members of the Administrator without a meeting.

Section 3.        Stock Available for Replacement Options

         Schedule I to this Plan shows 984,322 shares as the maximum number of
Company common shares that would be needed to cover all Replacement Options
there scheduled, and that number, subject to reduction to the extent Predecessor
Options outstanding at the adoption date of this Plan are exercised or
terminated without exercise or become held by an Unrelated Holder prior to the
Effective Time, and subject to further adjustment after the Effective Time as
and when contemplated by Section 12, is the maximum number of Company common
shares authorized to be issued pursuant to this Plan. Subject to adjustment as
and when contemplated by Section 12, the only securities to be covered by
Replacement Options shall be Company common shares, all of which shares, when
issuable, shall be issued from the authorized and unissued shares of Company
common stock. As of the adoption of this Plan, 984,332 authorized and unissued
Company common shares are reserved for future issuance pursuant to this Plan,
and at all relevant times after the adoption date, there shall be so reserved
for future issuance the total number of shares covered by those Replacement
Options that then remain outstanding.

Section 4.        Grants of Replacement Options and Replacement SARs

         Based on information provided by LADD concerning the terms of the
Predecessor Plans, those Predecessor Options still outstanding at the adoption
date, and their respective holders at that date, the Company has listed in
Schedule I each Predecessor Option then outstanding, its date of grant and
scheduled expiration date, and (in each case, as of the adoption date) its
holder, the number of shares of LADD common stock then still covered by the
option, its exercise price per share, the extent to which it by then had become
exercisable, the time(s) after the adoption date at which it normally first
would become exercisable with respect to additional covered shares, and

                                       3
<PAGE>

whether it is classified as an option to be afforded the Federal income tax
treatment contemplated by Section 422 of the Internal Revenue Code (an "ISO") or
is not an ISO (an "NQSO").

         For each Predecessor Option so scheduled (other than those held by
persons who at the adoption date are Unrelated Holders), Schedule I also shows
the number of Company common shares expected to be covered by a Replacement
Option substituted for that Predecessor Option (or by two Replacement Options,
if the Predecessor Option is classified as an ISO and acceleration of
exercisability at the Effective Time would cause part of that option no longer
to qualify as an ISO), the exercise price per share of the Replacement
Option(s), any changes in exercisability of the Replacement Option(s) from those
applicable to the related Predecessor Option, and the classification of the
Replacement Option(s) as an ISO or NQSO, and for each Predecessor Option held by
a person who at the adoption date is an Unrelated Holder, Schedule I shows the
number of units expected to be covered by a Replacement SAR substituted for the
Predecessor Option, the strike price per unit, and any changes in exercisability
of the Replacement SAR from those applicable to the related Predecessor Option.
Schedule I also assigns each Replacement Option or Replacement SAR so scheduled
a number, to distinguish it from all other scheduled Replacement Options and
Replacement SARs.

         By adoption of this Plan, the Company grants to each person who
immediately prior to the Effective Time holds a scheduled Predecessor Option
that remains outstanding immediately prior to the Effective Time and who is not
then an Unrelated Holder, a Replacement Option (or two Replacement Options) and
to each person who immediately prior to the Effective Time is an Unrelated
Holder holding a Predecessor Option that then remains outstanding a Replacement
SAR, which grant first shall become effective at the Effective Time and, when
effective, shall substitute for and entirely replace the holder's Predecessor
Option. The terms and conditions of each Replacement Option (or set of
Replacement Options) or Replacement SAR granted in substitution for any given
Predecessor Option are as shown on Schedule I (except that the number of covered
shares or units there shown shall be proportionately reduced to reflect the
extent, if any, to which the related Predecessor Option is exercised or
otherwise terminated prior to the Effective Time and except as provided in the
next sentence) and are as otherwise provided in this Plan. Anything above to the
contrary notwithstanding, however, if any Predecessor Option scheduled in
Schedule I is held at the adoption date by a person not an Unrelated Holder but
immediately before the Effective Time is held by an Unrelated Holder, the
Replacement Options(s) granted with respect to that Predecessor Option shall not
become effective and, instead, shall be converted at the Effective Time into a
Replacement SAR on terms equivalent to those of the converted Replacement
Options(s).

         As promptly as possible following the adoption of this Plan, each
holder shown on Schedule I shall be provided by the Company with an
individualized schedule or schedules, derived from Schedule I, showing the terms
of each Predecessor Option held by that holder at the adoption date and the
Replacement Option(s) or Replacement SAR that will become effective at the
Effective Time in substitution for that Predecessor Option, assuming it
continues to be outstanding as scheduled and held by that holder (or a
permissible successor) immediately prior to the Effective Time. As promptly as
possible following the adoption of this Plan, each such holder also shall be
provided by the Company with a copy of this Plan (excluding Schedule I) and such
other

                                       4
<PAGE>

documents as are approved for distribution to holders of Predecessor Options by
the Board. As promptly as possible after the Effective Time, the Company and
LADD shall review the terms of all Predecessor Options that remained outstanding
immediately before the Effective Time and their holders. If that review reveals
that, in light of events occurring from the adoption date to the Effective Time,
the grants that became effective at the Effective Time are not as shown in
Schedule I, then, such modifications shall be made in that schedule (or
otherwise in the Company's records) as are necessary to reflect the grants that
actually became effective under this Plan at the Effective Time, and any
affected holder promptly shall be provided with a new individualized schedule
reflecting the grant(s) that actually have become effective under this Plan with
respect to that holder.

Section 5.        Permissible Payment Methods for Exercised Replacement Options

         (a) The per share exercise price for a Replacement Option being
exercised shall be payable to the Company (1) in cash or by check, bank draft,
or money order payable to the order of the Company, (2) through the delivery to
the Company of shares of its common stock owned by the option holder with an
aggregate "fair market value" (as defined below) as of the exercise date equal
to the per share exercise price payable, or (3) by a combination of the
foregoing payment methods, as the holder may elect. In addition, if permissible
for the Predecessor Option which the Replacement Option replaced, the holder
instead may elect to pay the entire exercise price for the shares being
purchased through a "cashless exercise" method whereby the holder, by a properly
executed written notice in form approved by or reasonably satisfactory to the
Administrator, directs (i) an immediate market sale or margin loan respecting
all or a part of the Company common shares to which he is entitled upon
exercise, pursuant to an extension of credit to the holder of the exercise price
for those shares by the Company or a Company subsidiary, (ii) delivery of the
shares being acquired from the Company directly to a brokerage firm, and (iii)
the delivery of the exercise price from sale or margin loan proceeds from the
brokerage firm directly to the Company in repayment of the credit extension.
Except as provided in the preceding sentence, no shares shall be delivered until
full payment has been made

         (b) For purposes of this Plan, the "fair market value" of a Company
common share on any given date means the closing price for a Company common
share on the New York Stock Exchange ("NYSE") on that date or, if NYSE is not
open for business on the date in question, as of the nearest preceding date on
which NYSE was open for business.

Section 6.        Certain Exercise Terms and Conditions

         (a) Not less than 100 shares may be purchased at any one time pursuant
to the exercise of a Replacement Option, unless the number then purchased is the
total number at that time purchasable by the holder under this Plan, and a
Replacement SAR may not be exercised for less than 100 units, unless the number
of units for which the Replacement SAR then is being exercised is the total
number of units at that time exercisable by the holder under this Plan.

         (b) Except as provided in Sections 8 or 9, a Replacement Option may not
be exercised at any time unless the grantee is then an employee of the Company,
LADD, or another subsidiary

                                       5
<PAGE>

of the Company. Each Replacement SAR shall be exercisable by the holder in
accordance with its terms for the entire duration of the Replacement SAR,
regardless of whether the grantee then has any employee or director relationship
with the Company, LADD, or any other Company subsidiary.

         (c) To the extent to which it then is otherwise exercisable, a
Replacement Option or Replacement SAR may be exercised by the holder by delivery
to the Secretary of the Company at its corporate headquarters of a written
notice of exercise signed by the holder that identifies by its assigned number
each Replacement Option or Replacement SAR then being exercised and the number
of covered shares or units for it is then being exercised, and (in the case of a
Replacement Option) by delivery of full payment for the number of shares being
purchased or, if the cashless method is permissible for payment and being used,
delivery of the formal written notice contemplated by Section 5.

         (d) The grant of a Replacement Option or Replacement SAR imposes no
obligation upon the grantee or any successor at any time to exercise it.

Section 7.        Termination of Employment - Except by Death or Retirement

         If after the Effective Time the grantee of a Replacement Option ceases
to be employed by the Company or a subsidiary of the Company for any reason
other than his death or his permissible retirement (as contemplated by Section
8), each then outstanding Replacement Option granted to him immediately shall
terminate. Whether a leave of absence shall constitute a termination of
employment for this purpose shall be determined by the Administrator, whose
decision shall be final and conclusive.

Section 8.        Termination of Employment - Retirement

         If after the Effective Time the grantee of a Replacement Option ceases
to be employed by the Company or a subsidiary of the Company due to his
retirement upon attaining age 65, or if he ceases to be so employed prior to age
65 due to early retirement and such early retirement is acceptable to the
Administrator for the purposes of this Section, and the Replacement Option then
is still outstanding, its holder may, at any time within three (3) months after
the date of retirement of the grantee but not later than the date of expiration
of the Replacement Option, exercise the option to the extent the holder was
entitled to do so on the grantee's date of retirement. If after the Effective
Time a grantee of a Replacement Option ceases to be employed by the Company or a
subsidiary of the Company due to his becoming disabled for purposes of the
Company's, LADD's, or his employing subsidiary's long term disability plan, and
the Replacement Option then is still outstanding, its holder may, at any time
within twelve (12) months after the date of disability retirement of the grantee
but not later than the date of expiration of the Replacement Option, exercise
the option to the same extent the holder was entitled to do so on the grantee's
date of disability retirement. Any Replacement Option or portion of a
Replacement Option of such a retired grantee that is not so exercised shall
terminate.

                                       6
<PAGE>

Section 9.        Termination of Employment - Death

         If after the Effective Time the grantee of a Replacement Option dies
while in the employment of the Company or a subsidiary of the Company or within
three months of his retirement in accordance with Section 8, and the Replacement
Option then is still outstanding, the person or persons to whom the Replacement
Option is transferred by will or by the laws of descent and distribution (or, if
the Replacement Option is classified as an NQSO and previously has been
transferred by the grantee in a transfer permissible under Section 11, the
grantee's transferee) may exercise the same option to the same extent and upon
the same terms and conditions as would have been applicable to the grantee (or
his transferee) had the grantee lived until the term of the Related Option had
expired. Any Replacement Option or portion of a Replacement Option of such a
deceased grantee that is not so exercised shall terminate.

Section 10.       Additional Payments to Certain Unrelated Holders

          This section applies only to Replacement SARs granted in substitution
for Predecessor Options that were classified as ISOs immediately prior to the
Effective Time and at that time were held by the estate of or another successor
in interest to a deceased grantee of the related Predecessor Option ("Covered
Replacement SARs"). If a Covered Replacement SAR is exercised and all of the
following conditions are satisfied:

         (a) The Federal income tax payable by the holder of the Covered
Replacement SAR with respect to the income the holder recognizes as a result of
such exercise exceeds the amount that would have been payable by such holder if,
rather than exercising the Covered Replacement SAR, such holder had on the same
date exercised an ISO (covering the same number of Company shares as the number
of units for which the Covered Replacement SAR was exercised and having an
exercise price per share equal to the strike price per unit of such Covered
Replacement SAR) by paying the exercise price in cash and had sold the Company
shares obtained through such exercise on the same day for their fair market
value as of that day in a disposition that did not result in loss of ISO
treatment for tax purposes (the amount of such excess being referred to herein
as "Additional Tax");

         (b) Such person delivers to the Company's Secretary, no later than 30
days after the deadline (after giving effect to any extensions) for filing his
Federal income tax return for the year in which such Covered Replacement SAR was
exercised, a copy of that return and such other documents and information as are
reasonably sufficient to demonstrate the amount of the Additional Tax and to
compute the amount of the "Additional Payment" (as defined below); and

         (c)      Such holder requests payment under this Section;

then, such holder shall be entitled to receive from the Company, no later than
60 days after all of the conditions specified in (a), (b), and (c) above are
satisfied, a cash payment (an "Additional Payment") in an amount equal to: (1)
the amount of the Additional Tax; divided by (2) one minus the highest marginal
Federal income tax rate (expressed as a percentage) applicable to any portion of
such holder's taxable income for the year in which the Covered Replacement SAR
was

                                       7
<PAGE>

exercised. The Administrator's determination of the amount of any Additional
Payment shall be conclusive and binding for all purposes.

Section 11.       Restrictions on Transfer

         Except as otherwise provided herein, a Replacement Option or
Replacement SAR may not be transferred except by will or the laws of descent and
distribution and, during the lifetime of its grantee (or, if the grantee is not
a natural person, while the grantee continues in existence), may be exercised
only by such grantee. Notwithstanding the above, any Replacement Option
classified as an NQSO and any Replacement SAR may be transferred without payment
of consideration to immediate family members (as defined herein), trusts for the
benefit of immediate family members, and partnerships consisting only of
immediate family members. For purposes of this Section, "immediate family
members" shall consist of the spouse of the grantee of the Predecessor Option to
which a Replacement Option or Replacement SAR relates or such grantee's issue
(whether natural, adopted, or in the process of adoption), spouse of issue, or
ancestor.

Section 12.       Capital Adjustments Affecting Common Stock

         (a) At any time after the Effective Time, if the then outstanding
shares of the Company common stock are increased, decreased, changed into, or
exchanged for a different number or kind of shares or securities of the Company
or shares of a different par value or without par value through
recapitalization, reclassification, stock dividend, stock split, amendment to
the Company's Articles of Incorporation or reverse stock split, an appropriate
adjustment shall be made in the number and/or kind of securities allocated to
the then outstanding Replacement Options, without change in the aggregate
exercise price applicable to the unexercised portion of the outstanding
Replacement Options but with a corresponding adjustment in the per share
exercise price of any such Replacement Options, and an appropriate adjustment
shall be made in the number of units subject to then outstanding Replacement
SARs and/or the kind of securities used to determine the cash amount payable
when such Replacement SARs are exercised, without change in the aggregate strike
price applicable to the unexercised portion of the outstanding Replacement SARs
but with a corresponding adjustment in the per unit strike price of any such
Replacement SARs. In the event of a merger or consolidation of the Company with
or into another corporation, the Administrator may make an appropriate
adjustment, including but not limited to adjustment or substitution pursuant to
Internal Revenue Code Section 424(a), in the number and/or kind of securities
allocated to the then outstanding Replacement Options, with a corresponding
adjustment in the price for each share or other unit of any security covered by
the options but without (where feasible in the judgment of the Administrator)
change in the aggregate purchase price applicable to the unexercised portion of
the outstanding Replacement Options, and also may make an appropriate adjustment
in the number of units subject to then outstanding Replacement SARs and/or the
kind of securities used to determine the cash amount payable when such
Replacement SARs are exercised, with a corresponding adjustment in the per unit
strike price but without (where feasible in the judgment of the Administrator)
change in the aggregate strike price applicable to the unexercised portion of
the outstanding Replacement SARs.

                                       8
<PAGE>

         (b) Upon the effective date of the dissolution or liquidation of the
Company, or a "Change in Control" of the Company (as defined below), the Plan
and any then outstanding Replacement Options and Replacement SARs shall
terminate unless provision is made in writing in connection with such
transaction for the continuance of the Plan and for the assumption of such
outstanding Replacement Options and Replacement SARs, or the substitution for
such Replacement Options of new options covering the shares of a successor
employer corporation, or a parent or subsidiary thereof, with appropriate
adjustments as to number and kind of shares and exercise prices, and the
substitution for such Replacement SARs of new stock appreciation rights granted
by the successor employer corporation, or a parent or subsidiary thereof, with
appropriate adjustments as to number of units, strike prices, and kind of
securities used to determine cash amounts payable on exercise, in which event
the Plan, the outstanding Replacement Options or the new options substituted
therefor, and the outstanding Replacement SARs or the new stock appreciation
rights substituted therefor shall continue in the manner and under the terms so
provided. Nevertheless, in the event of such dissolution, liquidation, or Change
in Control, and if provision is not made in such transaction for the continuance
of the Plan and for the assumption of then outstanding Replacement Options and
Replacement SARs or for the substitution of new options and stock appreciation
rights as contemplated above, then each holder of a Replacement Option shall be
entitled, prior to the effective date of any such transaction, to purchase the
full number of shares under his option which he otherwise would have been
entitled to purchase during the remaining term of such Replacement Option, and
each holder of a Replacement SAR shall be entitled to exercise it, prior to the
effective date of any such transaction, with respect to the full number of units
then still covered by the Replacement SAR, whether or not it then otherwise
would be exercisable with respect to all such units.

         (c) To the extent that the foregoing adjustments relate to particular
stock or securities of the Company subject to Replacement Options or to
particular stock or securities used to determine the cash amount to be paid on
exercise of Replacement SARs, such adjustments shall be made by the
Administrator, whose determinations in such respects shall be final and
conclusive.

         (d) The grant of a Replacement Option or Replacement SAR pursuant to
this Plan shall not affect in any way the right or power of the Company to make
adjustments, reclassifications, reorganizations, or changes of its capital or
business structure, or to merge or consolidate, or to dissolve, liquidate, or
sell, or transfer all or any part of its business or assets.

         (e) No fractional shares of stock shall be issued under this Plan due
to any adjustments of any Replacement Option, and any fractiona1 share otherwise
resulting from such adjustments may be eliminated without any compensation to
the option holder. No amount less than one cent shall be payable by the Company
due to any adjustments of any Replacement SAR, and any such amount otherwise
resulting from such adjustments may be eliminated entirely.

         (f) "Change in Control" of the Company means the date on which the
earliest of the following events occurs:

         (1) The acquisition by any entity, person, or group of beneficial
         ownership, as that term is defined in Rule 13d-3 under the Securities
         Exchange Act of 1934, of more than 30% of

                                       9
<PAGE>

         the outstanding capital stock of the Company entitled to vote for the
         election of directors ("Voting Stock");

         (2) The merger or consolidation of the Company with one or more
         corporations as a result of which the holders of the outstanding Voting
         Stock of the Company immediately prior to such a merger or
         consolidation hold less than 60% of the Voting Stock of the surviving
         or resulting corporation;

         (3) The transfer of substantially all of the property of the Company
         other than to an entity of which the Company owns at least 80% of the
         Voting Stock; or

         (4)      The election to the Board of three directors without the
         recommendation or approval of the Board.

Section 13.       Effectiveness, Termination, and Amendment

         This Plan is effective as of the adoption date, but no grants under
this Plan shall become effective unless and until the Effective Time occurs.
After the Effective Time, this Plan shall continue in effect until the earliest
time at which all Replacement Options and Replacement SARs have been fully
exercised or otherwise terminated, at which time this Plan shall terminate, and
this Plan also shall terminate immediately if the Merger Agreement is terminated
before the Effective Time has occurred. At any time before this Plan terminates,
the Administrator may alter or amend it, but in no event may the Administrator,
without the consent of the holder of a then outstanding Replacement Option or
Replacement SAR, make any alteration or amendment that would deprive him of his
rights with respect thereto.

Section 14.       Other Provisions

         (a) No grant to an employee of LADD or a LADD subsidiary under this
Plan is intended to, nor shall it, at any time expand such rights of employment
as the grantee otherwise may have with respect to the Company, LADD, or any
subsidiary of either, and no grant to any person who at the adoption date is a
non-employee director of LADD is intended to confer, nor does it confer, any
right for the grantee to serve as a director of LADD or to hold any other
position with LADD or any position with the Company or any other Company
subsidiary from or after the Effective Time.

         (b) The holder of a Replacement Option shall have no rights as a
stockholder of the Company with respect to any shares covered by that
Replacement Option until payment in full by him for the shares being purchased,
and no adjustment shall be made for dividends (ordinary or extraordinary,
whether in cash, securities or other property) or distributions or other rights
for which the record date is prior to the date such shares are fully paid for,
except as provided in Section 12. The grant of a Replacement SAR confers no
rights whatsoever on the grantee or any successor to acquire any Company common
shares at any time or under any circumstances.

                                       10
<PAGE>

         (c) Any proceeds received by the Company from the sale of Company
common shares pursuant to this Plan are to be used for general corporate
purposes.

         (d) Titles and headings are included in this Plan for convenience only
and shall not control the meaning or interpretation of any provision of this
Plan. The use of masculine pronouns shall be deemed to include persons of any
gender; similarly, where the context so indicates, the singular shall include
the plural and vice versa. Except to the extent that Federal law shall govern,
the validity and construction of the Plan and each of its provisions shall be
subject to and governed by the laws of the State of Michigan.

                                       11
<PAGE>

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