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                                     REEBOK
                           COMPENSATION DEFERRAL PLAN

                 AMENDED AND RESTATED EFFECTIVE JANUARY 1, 2004

1.       PURPOSE AND SCOPE OF COMPENSATION DEFERRAL PLAN; EFFECTIVE DATE.

         The purpose of this Compensation Deferral Plan ("Deferral Plan") is to
         permit certain highly compensated employees to defer the receipt of
         compensation, including salary and incentive bonuses and, in certain
         instances, to require such participants to defer the receipt of certain
         incentive bonuses that exceeds 125% of the Participant's target award.

         This Deferral Plan was established in 1999, and is amended and restated
         in its entirety effective January 1, 2004. Effective as of January 1,
         2004, this Deferral Plan is incorporated by reference into and made a
         part of the Reebok Executive Deferred Compensation Plan (the "Plan"),
         and all of the terms and conditions of Plan govern the Deferral Plan.
         To the extent of any inconsistency between this Deferral Plan and the
         Plan, the terms of the Plan will govern.

2.       DEFINITIONS.

         All of the definitions contained in the Plan shall apply to the
         Deferral Plan. In addition, as used herein, the following terms shall
         have the meanings specified below, unless a different meaning is
         clearly indicated by the context.

         2.1 "Deferral Plan Participant" means each Employee of the Company who
         selected by the Administrator as eligible to defer the receipt of
         compensation under Section 3.

         2.2 "Interest" means the amounts credited pursuant to Section 6.2
         herein.

         2.3 "Interest Rate" means the interest-equivalency rate, which, for any
         month, is Merrill Lynch annual corporate bond yield rate for the last
         business day of the calendar quarter preceding the calendar quarter in
         which such month occurs, divided by 12. The Committee may, in its
         discretion, select a different rate, provided that notice to the
         Deferral Plan Participants of the change in rate has been given
         reasonably in advance of the date on which the Participant's deferral
         elections are required to be made.

3.       ELECTION TO DEFER.
         -----------------

         3.1 A Deferral Plan Participant may elect to defer a designated portion
         of his or her regular salary (a "Salary Deferral Election") to be
         earned during a Plan Year by filing a written election with the
         Administrator prior to the first day of the Plan Year in which such
         salary is to be earned.

         3.2 A Deferral Plan Participant may also elect to defer a designated
         portion of his or her incentive bonus that is ("Bonus") to be earned
         during a Plan Year (which would otherwise be determined and payable
         after the end of the Plan

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         Year), by filing a written election with the Administrator no later
         than December 31 of the preceding Plan Year (a "Bonus Deferral
         Election").

         3.3 An individual who first becomes a Deferral Plan Participant on or
         after the first day of any Plan Year may enter into a Salary Deferral
         Election or Bonus Deferral Election with respect to that portion of
         base salary and/or Bonus, respectively, to be earned during the
         remainder of the Plan Year and after the written election is filed with
         the Administrator.

         3.4 The deferred amounts, together with the Interest Equivalent Rate
         shall be credited to the Salary Deferral Subaccount or Bonus Deferral
         Subaccount, as the case may be, as described in Section 7.

4.       MANDATORY DEFERRALS OF BONUSES

         4.1 The Company, in its sole discretion, may require that an Employee
         who is eligible to receive performance bonuses defer receipt of his or
         her bonus that is in excess of 125% of such Employee's target bonus
         award ("Mandatory Bonus Deferral").

         4.2 The deferred amounts, together with the Interest Equivalent Rate
         shall be credited to the Mandatory Bonus Deferral Subaccount, as
         described in Section 7.

         4.3 Amounts credited to the Mandatory Bonus Deferral Subaccount,
         including deferred Bonuses and Interest, may, in the sole discretion of
         the Company, be subject to forfeiture in the event that a Employee
         terminates employment (including without limitation on account of
         death) with the Company for any reason prior to the payment.

5.       PAYMENT OF DEFERRED AMOUNTS.

         5.1 Amounts credited to a Salary Deferral Subaccount or Bonus Deferral
         Subaccount with respect to a particular Plan Year shall be paid
         (together with Interest) to the Deferral Plan Participant in a single
         lump sum payment on the March 31 (or first business day thereafter, if
         such date is a Saturday or Sunday) of the third year following such
         Plan Year (each, a "Payment Date").

         5.2 On or before the first day of the Plan Year in which a Payment Date
         occurs, Deferred Compensation Participants may further elect to defer
         the receipt of the amounts deferred pursuant to any Salary Deferral
         Election or Bonus Deferral Election for an additional period of one
         year from the previous Payment Date.

         5.3 Payment of the amounts credited to the Mandatory Bonus Deferral
         Subaccount, together with Interest, shall be paid to the Employee as
         directed by the Company in no more than two equal installments at 12 or
         24 months from the date of deferral.

6.       NATURE OF ELECTION. Each election under Section 3.1 or 3.2 for a Plan
         Year (or balance of a Plan Year) shall be made on a form approved or
         prescribed by the

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         Administrator, shall be irrevocable by the Participant for the Plan
         Year and shall apply only to regular salary earned or Bonus determined
         after the date the election form is completed and filed with the
         Administrator. The election form shall also specify whether the
         deferral election is to apply to payments of base salary, Bonuses, or
         both and shall specify the whole percentage or flat dollar amount of
         each that is to be deferred.

7.       ACCOUNTS; CREDITING OF INTEREST

         7.1 ACCOUNTS. Accounts shall be established under the Compensation
         Deferral Plan to which amounts are credited for the Participant's
         benefit under Section 3.4 and Section 4.2. References to a
         Participant's Account shall include subaccounts established for the
         purpose of crediting Salary Deferrals and Bonus Deferrals.

         7.2      INTEREST-EQUIVALENCY CREDIT.
                  ---------------------------

                          7.2.1 As of the last day of each calendar month (the
                 "crediting month"), there shall be credited to each
                 Participant's Account an amount determined by multiplying the
                 balance of such Account on the last business day of the
                 immediately preceding month by the Interest Rate applicable to
                 the crediting month.

                          7.2.2 In addition, for any month in which a Salary
                 Deferral, Bonus Deferral or Mandatory Bonus Deferral is added
                 to a Participant's Account, there shall also be added to such
                 subaccount an amount determined by multiplying the Interest
                 Rate by such Deferral or Deferrals for the period commencing on
                 the date or dates such Deferrals were made to the account and
                 ending on the last date of such month.

         7.3      ALTERNATIVE PHANTOM INVESTMENT ELECTIONS.
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                          7.3.1 The Committee may, in lieu of the crediting of
                 Interest as provided in Section 7.2, provide that a Participant
                 may select among phantom investment funds for the purposes of
                 determining the phantom investment earnings or losses with
                 respect to a Compensation Deferral Participant's Account. The
                 phantom investment funds shall be selected by the Committee in
                 its sole discretion, and shall be established for record
                 keeping purposes only, and shall not be required to be
                 informally funded or held in specific investments or as
                 separated assets.

                          7.3.2 In the event that the Committee determines to
                 permit alternative investment elections by Compensation
                 Deferral Participants, or determines to change the phantom
                 investment funds offered to, it shall provide advance notice to
                 Participants.

         IN WITNESS WHEREOF, Reebok International Ltd. has caused this amended
and restated Deferral Plan to be executed by its officer hereunto duly
authorized this 11th day of February, 2004.

                                        REEBOK INTERNATIONAL LTD.

                                               /s/ David A. Pace
                                        By: ________________________________

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                                     REEBOK
                               EXCESS BENEFIT PLAN

                 AMENDED AND RESTATED EFFECTIVE JANUARY 1, 2004

1.       PURPOSE AND SCOPE OF EXCESS BENEFIT PLAN; EFFECTIVE DATE.

         The purpose of this Excess Benefit Plan is to provide benefits
         supplementing the Discretionary Contributions made under the Savings
         and Profit-Sharing Plan which are limited by reason of sections
         401(a)(17) and 415(c)(1)(A) of the Internal Revenue Code.

         This Excess Benefit Plan was established in 1990, and is amended and
         restated in its entirety effective January 1, 2004. Effective as of
         January 1, 2004, this Excess Benefit Plan is incorporated by reference
         into and made a part of the Reebok Executive Deferred Compensation Plan
         (the "Plan"), and all of the terms and conditions of Plan govern the
         Excess Benefit Plan. To the extent of any inconsistency between this
         Excess Benefit Plan and the Plan, the terms of the Plan will govern.

2.       DEFINITIONS.

         DEFINITIONS. All of the definitions contained in the Plan shall apply
         to the Excess Benefit Plan. In addition, as used herein, the following
         terms shall have the meanings specified below, unless a different
         meaning is clearly indicated by the context.

         2.1 "Discretionary Credit" means any amount credited to a
         Participant's account under paragraph 5.3.2 below.

         2.2 "Excess Benefit Plan Account" means the aggregate balance to the
         credit of an Excess Benefit Plan Participant's Discretionary Credit
         Subaccount and Supplemental Credit Subaccount.

         2.3 "Excess Benefit Plan Participant" means an Employee for whose
         benefits Discretionary Credits and Supplemental Credits are allocated
         under Section 3.

         2.4 "Excess Benefit Plan Retirement" means termination of employment on
         or after attainment of age 65 or such earlier age as may be determined
         by the Company in its sole discretion.

         2.5 "Interest" means the amounts credited pursuant to Section 7.2
         herein.

         2.6 "Interest Rate" means the interest-equivalency rate, which, for any
         month, is Merrill Lynch annual corporate bond yield rate for the last
         business day of the calendar quarter preceding the calendar quarter in
         which such month occurs, divided by 12. The Committee may, in its
         discretion, select a different rate, provided that notice to the
         Deferral Plan Participants of the change in rate has been given
         reasonably in advance of the date on which the Participant's deferral
         elections are required to be made.

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         2.7 "Savings and Profit-Sharing Plan" means the Reebok Savings and
         Profit-Sharing Retirement Plan established for employees of Reebok
         International Ltd., as amended from time to time, a portion of which is
         a profit-sharing plan maintained by the Company and is intended to be
         qualified under section 401(a) of the Code, as from time to time in
         effect.

         2.8 "Supplemental Credit" means, with respect to any Participant for
         any plan year of the Savings and Profit-Sharing Plan, an amount equal
         to the excess of (i) over (ii), where

                    (i)    is the portion of the employer contributions to the
                           Savings and Profit-Sharing Plan for such year which,
                           after expenses, if any, would have been allocated to
                           the Participant's account under the Savings and
                           Profit-Sharing Plan if such allocation had been made
                           without regard to the limitations of sections
                           401(a)(17) and 415(c)(1)(A) of the Code and the
                           corresponding provisions of the Savings and
                           Profit-Sharing Plan; and

                    (ii)   is the amount of the employer contributions to the
                           Savings and Profit-Sharing Plan for such year which
                           is actually allocated to the Participant's account
                           thereunder.

         No Supplemental Credits shall be made or credited under this Excess
         Benefit Plan with respect to plan years of the Savings and
         Profit-Sharing Plan ended prior to December 31,1989.

         2.9 "Supplemental Credit Eligible Employee" for purposes of the
         Supplemental Credit means any employee of the Company who is eligible
         to participate in the Savings and Profit-Sharing Plan and has limited
         Discretionary Contributions under such plan due to limits under the
         Code.

3.       CREDITS.

         3.1 As of the date on which the Company makes its contributions to the
         Savings and Profit-Sharing Plan for a particular plan year, unless
         otherwise approved by the Committee, the Administrator shall credit to
         each Supplemental Credit Eligible Employee's Subaccount the
         Supplemental Credit, if any, for such year.

         3.2 As of the same date, the Administrator shall credit to each
         Supplemental Credit Eligible Employee's Discretionary Credit Subaccount
         the Discretionary Credit, if any, determined by the Board with respect
         to such Participant for such year.

         3.3 The Supplemental Credits and the Discretionary Credits shall be
         credited to the Supplemental Credit Subaccount or Discretionary Credit
         Subaccount, as the case may be, together with the Interest Equivalency
         Credit, as described in Section 7.

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4.       VESTING. Each Participant shall have a vested and nonforfeitable right
         to his or her Supplemental Credit and Discretionary Credit Subaccount
         balances hereunder at such time or times, and to such extent, as the
         Participant is vested in his or her allocated share of the Company's
         Profit-Sharing Contribution under the Savings and Profit-Sharing Plan.
         Notwithstanding the preceding sentence, if a Participant vests in any
         portion of his or her Savings and Profit-Sharing Plan accounts by
         reason of the termination or partial termination of the Savings and
         Profit-Sharing Plan, he or she shall be deemed to have vested in the
         corresponding portion of the account balance hereunder only to the
         extent, if any, determined by the Committee. Nothing in this paragraph
         shall be deemed to give any Participant rights greater than those
         described in paragraph 9.1 below.

5.       BENEFIT PAYMENT.

         5.1 Payment of the vested and nonforfeitable portion of the amounts
         credited to a Participant's Excess Benefit Plan Account shall be made
         in one of the following forms: (1) single lump sum distribution; (2)
         annual installment payments over a five-year period; or (3) annual
         installment payments over a ten-year period. Installment payments for
         any year shall be determined by dividing the outstanding balance to the
         credit of the Participant's Excess Benefit Plan Account by the
         remaining number of installment payments. If the Participant dies
         before the five or ten annual installment payments are made, the unpaid
         balance will continue to be paid in installments for the unexpired
         portion of such period to the Participant's Beneficiary.

         5.2 A Participant shall elect the form of benefit payment in accordance
         with the procedures established by the Committee. A Participant must
         make a written election as to benefit payment form when he or she first
         becomes eligible to participate. Failure to elect a particular
         distribution method will be treated as a deemed election to receive a
         single lump sump distribution. A Participant may who is not yet in
         payment status may change his or her election hereunder with respect to
         the balance to the credit of his or her entire account at any time in a
         writing acceptable to the Committee, but in that event such Participant
         shall not be credited with Interest, as described in Section 7.2.3.

6.       DISTRIBUTION. Commencing on the first business day of the third
         calendar month following the later of (i) separation from service with
         the Company and any member of its controlled group of corporations
         (within the meaning of section 414 of the Code) and (ii) Excess Benefit
         Plan Retirement, a Participant shall receive his or her benefit in the
         form provided under paragraph 5 herein. Participants receiving
         installment payments shall receive subsequent payments as of the
         anniversary date of the first installment payment.

7.       ACCOUNTS; CREDITING OF INTEREST

         7.1 ACCOUNTS. Accounts shall be established under the Excess Benefit
         Plan to which amounts are credited for the Participant's benefit under
         Section 3. References to a Participant's Account shall include
         subaccounts established for the purpose of crediting Discretionary
         Credits and Supplemental Credits.

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         7.2      INTEREST-EQUIVALENCY CREDIT.

                          7.2.1 As of the last day of each calendar month (the
                 "crediting month"), there shall be credited to each
                 Participant's Account (including a Participant receiving
                 installment payments under Section 5.1) an amount determined by
                 multiplying the balance of such Account on the last business
                 day of the immediately preceding month by the Interest Rate
                 applicable to the crediting month.

                          7.2.2 In addition, for any month in which a
                 Supplemental Credit or Discretionary Credit is added to a
                 Participant's Account, there shall also be added to such
                 subaccount an amount determined by multiplying the Interest
                 Rate by such Credit or Credits for the period commencing on the
                 date or dates such Credits were made to the account and ending
                 on the last date of such month.

                          7.2.3 Notwithstanding the foregoing, Interest shall
                 not be credited under subparagraphs 7.2.1 or 7.2.2 to a
                 Participant's Account for the three calendar months following a
                 change in payment form, as described in paragraph 5.2.

         7.3      ALTERNATIVE PHANTOM INVESTMENT ELECTIONS.

                          7.3.1 The Committee may, in lieu of the crediting of
                 Interest as provided in Section 7.2, provide that a Participant
                 may select among phantom investment funds for the purposes of
                 determining the phantom investment earnings or losses with
                 respect to a Excess Benefit Plan Participant's Account. The
                 phantom investment funds shall be selected by the Committee in
                 its sole discretion, and shall be established for record
                 keeping purposes only, and shall not be required to be
                 informally funded or held in specific investments or as
                 separated assets.

                          7.3.2 In the event that the Committee determines to
                 permit alternative investment elections by Excess Benefit Plan
                 Participants, or determines to change the phantom investment
                 funds offered to, it shall provide advance notice to
                 Participants.

         IN WITNESS WHEREOF, Reebok International Ltd. has caused this Excess
Benefit Plan to be executed by its officer hereunto duly authorized this 11th
day of February, 2004.

                              REEBOK INTERNATIONAL LTD.

                                     /s/ David A. Pace
                              By: ________________________________

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