Document:

EXHIBIT 10.(v)

                           MONROE BANCORP THRIFT PLAN

                              Amended and Restated
                       Generally Effective January 1, 1991

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                           MONROE BANCORP THRIFT PLAN

                                TABLE OF CONTENTS

ARTICLE                                                                    PAGE

               INTRODUCTION                                                   1

               PURPOSE AND APPLICABILITY OF PLAN                              1

        I      DEFINITIONS                                                    1

               1.1         Adjustment                                         1
               1.2         Adjustment Factor                                  2
               1.3         Annual Additions                                   2
               1.4         Beneficiary                                        2
               1.5         Board                                              3
               1.6         Break in Service                                   3
               1.7         Code                                               3
               1.8         Committee                                          3
               1.9         Compensation                                       3
               1.10        Defined Benefit Plan                               5
               1.11        Defined Contribution Plan                          5
               1.12        Effective Date                                     6
               1.13        Employee                                           6
               1.14        Employer                                           7
               1.15        Employment Commencement Date                       8
               1.16        ERISA                                              8
               1.17        Family Member                                      8
               1.18        Fiduciary                                          8
               1.19        Fund                                               8
               1.20        Highly Compensated Employee                        8
               1.21        Hour of Service                                    9
               1.22        Inactive Participant                              11
               1.23        Individual Account                                11
               1.24        Key Employee                                      11
               1.25        Limitation Year                                   12
               1.26        Matching Contributions                            12
               1.27        Matching Contributions Account                    12
               1.28        Maximum Permissible Amount                        12
               1.29        Net Profits                                       13
               1.30        Non-Highly Compensated Employee                   13
               1.31        Participant                                       13
               1.32        Plan                                              13
               1.33        Plan Year                                         13
               1.34        Profit Sharing Contributions                      13
               1.35        Profit Sharing Account                            13
               1.36        Qualified Non-Elective Contributions              13

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ARTICLE                                                                    PAGE

               1.37        Qualified Non-Elective Contributions
                             Account                                         13
               1.38        Related Plan                                      14
               1.39        Rollover Account                                  14

        I.     DEFINITIONS (Continued)

               1.40        Salary Redirection Contributions                  14
               1.41        Salary Redirection Contributions Account          14
               1.42        Service                                           14
               1.43        Top-Heavy Provisions                              15
               1.44        Total and Permanent Disability                    19
               1.45        Trust Agreement                                   20
               1.46        Trustee                                           20
               1.47        Valuation Date                                    20

       II      PARTICIPATION                                                 20

               2.1         Eligibility and Participation                     20
               2.2         Plan Binding                                      22
               2.3         Reemployment                                      22
               2.4         Beneficiary Designation                           22
               2.5         No Credit Upon Acquisition and Recognition
                             of Past Service                                 23
               2.6         Salary Redirection Election                       23

      III      CONTRIBUTIONS                                                 24

               3.1         Profit Sharing Contributions                      24
               3.2         Rollover Contributions                            24
               3.3         Salary Redirection Contributions                  26
               3.4         Adjustment to Salary Redirection                  29
               3.5         Distribution of Excess Salary
                             Redirection Amounts                             33
               3.6         Distribution of Excess Contributions              35
               3.7         Matching Contributions                            37
               3.8         Nondiscrimination Requirements For
                             Matching Contributions                          37
               3.9         Distribution of Excess Aggregate
                             Contributions                                   42
               3.10        Exclusive Benefit of Employees                    44
               3.11        Qualified Non-Elective Contributions              45

       IV      ALLOCATIONS TO INDIVIDUAL ACCOUNTS                            45

               4.1         Individual Accounts                               45
               4.2         Allocation of Profit Sharing Contributions        46

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ARTICLE                                                                    PAGE

               4.3         Allocation of Matching Contributions              46
               4.4         Allocation of Adjustments                         46
               4.5         Allocation of Forfeitures                         47
               4.6         Trustee and Committee Judgment Controls           48
               4.7         Maximum Allocations                               48
               4.8         Corrective Adjustments                            48
               4.9         Limitations on Benefits of Participants
                             Participating in More than One Plan             49

        V      TERMINATION OF SERVICE AND VESTING                            51

               5.1         Vesting                                           51
               5.2         Cash-Out Distributions to Partially-Vested
                             Participants/Restoration of Forfeited
                             Accrued Benefits                                52
               5.3         Segregated Account for Repaid Amount              54
               5.4         Year of Service-Vesting                           55
               5.5         Included Years of Service-Vesting                 55
               5.6         Forfeiture Occurs                                 55
               5.7         Benefits to Minors and Incompetents               55

       VI      TIME AND METHOD OF PAYMENT OF BENEFITS                        56

               6.1         Time of Payment of Benefits                       56
               6.2         Method of Payment                                 59
               6.3         Distributions Under Qualified Domestic
                             Relations Orders                                61
               6.4         Annuity Distributions to Participants
                             and Surviving Spouses                           62
               6.5         Valuation of Individual Accounts                  62
               6.6         Minimum Required Distributions                    63
               6.7         Direct Rollovers                                  63

      VII      FUNDING     64

               7.1         Contributions                                     64
               7.2         Trustee                                           64
               7.3         Funding Policy                                    65

     VIII      PLAN ADMINISTRATION                                           65

               8.1         Fiduciaries                                       65
               8.2         Employer                                          66
               8.3         Trustee                                           66
               8.4         Benefits Committee                                67
               8.5         Claims Procedures                                 68
               8.6         Records                                           69

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ARTICLE                                                                    PAGE

               8.7         Disclosures to Participants                       70
               8.8         No Liability                                      70
               8.9         Indemnity of Committee Members                    71
               8.10        Employer Direction of Investment                  71
               8.11        Amendment to Vesting Schedule                     71
               8.12        Discretionary Powers and Authority
                             of the Employer and Committee                   72

       IX      AMENDMENT AND TERMINATION OF THE PLAN                         72

               9.1         Amendment of the Plan                             72
               9.2         Termination of the Plan                           73

        X      MISCELLANEOUS                                                 74

               10.1        Governing Law                                     74
               10.2        Headings and Gender                               74
               10.3        Administration Expenses                           75
               10.4        Participant's Rights; Acquittance                 75
               10.5        Spendthrift Clause                                75
               10.6        Merger, Consolidation or Transfer                 75
               10.7        Counterparts                                      76
               10.8        Mistake of Fact                                   76
               10.9        No Enlargement of Employment Rights               76
               10.10       No Guarantee                                      77
               10.11       Prudent Man Rule                                  77
               10.12       Limitations on Liability                          77

       XI      ADOPTION OF THE PLAN                                          77

               SIGNATURES                                                    78

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                                  INTRODUCTION

                        PURPOSE AND APPLICABILITY OF PLAN

         Effective January 1, 1991, Monroe Bancorp (the "Employer") adopts the
Monroe Bancorp Thrift Plan (the "Plan") as set forth herein.

         This Plan, together with the Monroe Bancorp Thrift Plan Trust Agreement
(the "Trust"), is intended to be qualified under Sections 401(a), 401(k) and
501(a) of the Internal Revenue Code of 1986, as amended (the "Code"); and to
meet all the requirements of the Employee Retirement Income Security Act of
1974, as amended ("ERISA"). The Plan shall be interpreted, wherever possible, so
as to comply with the terms of the Code, ERISA, and all formal regulations and
rulings issued thereunder.

         The purpose of this Plan is to provide additional incentive and
retirement security for eligible employees by permitting them to share in the
Employer's profits and to contribute to their retirement.

         This Plan and its related Trust is a complete amendment and restatement
of the Monroe Bancorp Employees' Profit Sharing Plan which was originally
effective January 1, 1986 which is replaced by this Plan and its related Trust.
The provisions of this Plan shall generally be effective for Plan Years
commencing after December 31, 1990, unless otherwise specifically provided
herein or required by applicable law.

         The provisions of the Plan and Trust shall apply to individuals who are
employed by the Employer on and after the Effective Date. The rights and
benefits, if any, of individuals who were employed by the Employer prior to the
Effective Date shall be determined in accordance with the provisions of the
Plan, if any, in effect on the date their employment terminated.

                                    ARTICLE I
                                   DEFINITIONS

         Whenever the initial letter of a word or phrase is capitalized herein,
the following words and phrases shall have the meanings stated below unless a
different meaning is plainly required by the context:

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         1.1 "Adjustment" means the net increases and decreases in the market
value of the Fund during a Plan Year or other period exclusive of any
contributions during such year or other period. Such increases and decreases
shall include such items as realized or unrealized investment gains and losses
and investment income and may include expenses properly attributable to
administering the Fund and the Plan.

         1.2 "Adjustment Factor" means the cost of living Adjustment Factor
prescribed by the Secretary of the Treasury under Section 415(d) of the Code, as
applied to such items and in such manner as the Secretary of the Treasury shall
provide.

         1.3 "Annual Additions" means the sum of the Employer contributions,
Voluntary Contributions and forfeitures credited or debited to a Participant's
accounts for the Limitation Year under all Defined Contribution Plans maintained
by the Employer. Amounts allocated, after March 31, 1984, to an individual
medical account, as defined in Section 415(l)(2) of the Code, which is part of a
pension or annuity plan maintained by the Employer shall be treated as Annual
Additions to a Defined Contribution Plan. Also, amounts derived from
contributions paid or accrued after December 31, 1985, and taxable years ending
after such date, which are attributable to post-retirement medical benefits
allocated to the separate account of a key employee, as defined in Section
419A(d)(3) of the Code, under a welfare benefit fund, as defined in Section
419(e) of the Code, maintained by the Employer, are treated as Annual Additions
to a Defined Contribution Plan but only for purposes of the dollar limitation
applicable to the Maximum Permissible Amount, as defined in Section 1.28. The
preceding provisions of this Section 1.3 shall be effective for Plan Years
commencing after December 31, 1986.

         For the purposes of this Section 1.3 and Section 1.28, compensation
shall mean Compensation as defined in Section 1.9, disregarding elective
contributions and any exclusions from Compensation.

         1.4 "Beneficiary" means the surviving spouse of a Participant, or, if
such Participant has no surviving spouse or if the Participant's spouse has made
a Qualified Consent to the selection of a different beneficiary, any person
designated by a Participant to receive such benefits as may become payable
hereunder after the death of such Participant. For purposes of this Section 1.4,
a Qualified Consent means a consent by the Participant's spouse which consent
acknowledges the effect of the designation and has been executed by such spouse
in writing and witnessed by a member of the Committee or a notary public. A

                                       -2-
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Qualified Consent must either designate a beneficiary and a form of benefits or
expressly permit designations by the Participant without further consent by the
spouse. Any consent necessary under this Section 1.4 will be valid only with
respect to the spouse who properly executes the consent. Additionally, a
revocation of a prior consent may be made at any time by such spouse. A
Qualified Consent need not be furnished by a Participant if the Participant
establishes to the satisfaction of the Committee that no consent is required
because (i) there is no spouse, (ii) the spouse cannot be located, (iii) the
spouse has abandoned the Participant as evidenced by a court order to such
effect or (iv) the spouse is legally incompetent to give consent (in which case
the legal guardian of the spouse may give consent even if the Participant is the
legal guardian) or because of other circumstances which may be prescribed by the
Code or Treasury Regulations. The Qualified Consent provisions of this Section
1.4 shall apply to a former spouse of the Participant, to the extent required
under a qualified domestic relations order.

         1.5 "Board" means the Board of Directors of the Employer.

         1.6 "Break in Service" means a computation period, as specified in
Section 1.42, during which a Participant is not credited with more than five
hundred (500) Hours of Service. Solely for purposes of determining whether a
Break in Service, as defined in this Section 1.6, for participation and vesting
purposes, has occurred in a computation period, an individual who is absent from
work for maternity or paternity reasons shall receive credit for the Hours of
Service which would otherwise have been credited to such individual but for such
absence, or in any case in which such hours cannot be determined, eight (8)
Hours of Service per day of such absence. For purposes of this Section 1.6, an
absence from work for maternity or paternity reasons means an absence (1) by
reason of the pregnancy of the individual, (2) by reason of a birth of a child
of the individual, (3) by reason of the placement of a child with the individual
in connection with the adoption of such child by such individual, or (4) for
purposes of caring for such child for a period beginning immediately following
such birth or placement. The Hours of Service credited under this Section 1.6
shall be credited (1) in the computation period in which the absence begins if
the crediting is necessary to prevent a Break in Service in that period or (2)
in all other cases, in the following computation period. The total number of
Hours of Service required to be treated as completed for any computation period
shall not exceed five hundred one (501) Hours of Service.

                                       -3-
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         1.7 "Code" means the Internal Revenue Code of 1986, as amended from
time to time. References to a section of the Code shall include that section and
any comparable section or sections of any future legislation that amends,
supplements or supersedes said section.

         1.8 "Committee" means the Benefits Committee described in
Section 8.4 of the Plan.

         1.9 "Compensation" means a Participant's wages, salaries and fees for
professional services and other amounts (without regard to whether or not an
amount is paid in cash) paid during a Plan Year for personal services actually
rendered in the course of employment with the Employer as reported for federal
income tax purposes on Internal Revenue Service Form W-2. Compensation shall
include (i) elective contributions to the Plan or any other plan maintained by
the Employer on the Employee's behalf, (ii) compensation deferred under an
eligible deferred compensation plan within the meaning of Section 457(b) of the
Code (relating to deferred compensation plans maintained by state and local
governments and tax-exempt organizations), and (iii) employee contributions
(under governmental plans) described in Section 414(h)(2) of the Code that are
picked up by the employing unit and thus are treated as employer contributions.
"Elective contributions" are amounts excludible from the Employee's gross income
under Section 402(a)(8) of the Code (relating to an arrangement under Section
401(k)), Section 402(h) of the Code (relating to a simplified employee pension
plan), Section 125 of the Code (relating to a cafeteria plan) or Section 403(b)
of the Code (relating to a tax-sheltered annuity). Effective January 1, 1994,
Compensation shall not include any salary reduction contributions under the
Monroe Bancorp Executives' Deferred Compensation Plan. Effective July 1, 1994,
Compensation shall exclude all amounts paid to Participants during a Plan Year
under the "Quality Award Program" sponsored by the Employer.

         Any reference in this Plan to Compensation is a reference to the
definition in this Section 1.9, unless the Plan reference specifies a
modification to this definition. The Committee will take into account only
Compensation actually paid during the Plan Year.

         For any Plan Year beginning after December 31, 1988, the Committee
shall take into account for all purposes under the Plan (including without
limitation contributions and allocations for a Plan Year) only the first Two
Hundred Thousand Dollars ($200,000), as adjusted by the Adjustment Factor, of
any Participant's Compensation. For this purpose, any increase in the Two
Hundred

                                       -4-
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Thousand Dollar ($200,000) limit due to the application of the Adjustment Factor
shall only apply to Compensation taken into account for the Plan Year of such
increase and subsequent years and shall not apply to Compensation for prior Plan
Years in determining a Participant's allocations under or contributions to the
Plan on behalf of such Participant. The Two Hundred Thousand Dollar ($200,000)
Compensation limitation applies to the combined Compensation of the Participant
and of any Family Member aggregated with the Employee under Section 1.20 and who
is either (i) the Employee's spouse or (ii) the Employee's lineal descendant
under the age of nineteen (19). If such Compensation limitation applies to the
combined Compensation of the Participant and one or more Family Members, the
Committee will apply the contribution and allocation provisions of Articles III
and IV by prorating such limitation among the affected individuals in proportion
to each such individual's Compensation determined prior to application of this
limitation.

         In addition to other applicable limitations set forth in the Plan, and
notwithstanding any other provision of the Plan to the contrary, for Plan Years
beginning on or after January 1, 1994, the annual compensation of each Employee
taken into account under the Plan shall not exceed the OBRA '93 annual
compensation limit. The OBRA '93 annual compensation limit is $150,000, as
adjusted by the Commissioner for increases in the cost of living in accordance
with Section 401(a)(17)(B) of the Internal Revenue Code. The cost-of-living
adjustment in effect for a calendar year applies to any period, not exceeding 12
months, over which Compensation is determined (determination period) beginning
in such calendar year. If a determination period consists of fewer than 12
months, the OBRA '93 annual compensation limit will be multiplied by a fraction,
the numerator of which is the number of months in the determination period, and
the denominator of which is 12.

         For Plan Years beginning on or after January 1, 1994, any reference in
this Plan to the limitation under Section 401(a)(17) of the Code shall mean the
OBRA '93 annual compensation limit set forth in this provision.

         If Compensation for any prior determination period is taken into
account in determining an Employee's benefits accruing in the current plan year,
the Compensation for that prior determination period is subject to the OBRA '93
annual compensation limit in effect for that prior determination period. For
this purpose, for determination periods beginning before the first day of the
first Plan Year beginning on or after January 1, 1994, the OBRA '93 annual
compensation limit is $150,000.

                                       -5-
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         For purposes of determining whether the Plan discriminates in favor of
Highly Compensated Employees, Compensation means Compensation as defined in
Section 415(c)(3)(A) of the Code, unless the Employer elects to use an alternate
nondiscriminatory definition, in accordance with the requirements of Section
414(s) of the Code and the Treasury Regulations promulgated thereunder. The
Employer may elect to include all elective contributions made by the Employer on
behalf of Participants. The Employer's election to include elective
contributions must be consistent and uniform with respect to all Participants
and all plans of the Employer for any particular Plan Year. The Employer may
make this election to include elective contributions for nondiscrimination
testing purposes, irrespective of whether this Section 1.9 includes elective
contributions in the general Compensation definition applicable to the Plan.

         1.10 "Defined Benefit Plan" means a plan established and qualified
under Section 401 or 404 of the Code, except to the extent it is, or is treated
as, a Defined Contribution Plan.

         1.11 "Defined Contribution Plan" means a plan which is established and
qualified under Section 401 or Section 403 of the Code, which provides for an
individual account for each Participant thereunder and for benefits based solely
on the amount contributed to each Participant's account and any income and
expenses or gains or losses (both realized and unrealized) which may be
allocated to such account.

         1.12 "Effective Date" of the Plan as completely amended and restated
means January 1, 1991, unless otherwise specified herein or as otherwise
required by applicable law.

         1.13 "Employee" means

         (a)      An individual who is employed as an employee (whether on
                  a full-time, part-time, regular, temporary or other
                  basis) by the Employer.

         (b)      An individual (who otherwise is not an Employee of the
                  Employer) who, pursuant to a leasing agreement between
                  the Employer and any other person ("leasing
                  organization"), has performed services for the Employer
                  (or for the Employer and any persons related to the
                  Employer within the meaning of Section 414(n)(6) of the
                  Code) on a substantially full-time basis for at least
                  one (1) year and who performs services historically
                  performed by employees in the Employer's business field.
                  If a leased employee is treated as an Employee by reason

                                       -6-
<PAGE>

                  of this Section 1.13, Compensation shall include compensation
                  from the leasing organization which is attributable to
                  services performed for the Employer and contributions or
                  benefits provided to a leased employee by the leasing
                  organization which are attributable to services performed for
                  the Employer shall be treated as provided for the Employer.

                (i)        The Plan does not treat a leased employee as an
                           Employee if the leasing organization covers the
                           employee in a safe harbor plan and prior to
                           application of this safe harbor plan exception,
                           twenty percent (20%) or less of the Employer's
                           Employees (other than Highly Compensated Employees)
                           are leased employees.  For this purpose, a "safe
                           harbor plan" is a money purchase pension plan which
                           provides immediate participation, full and
                           immediate vesting, and a nonintegrated contribution
                           formula equal to at least ten percent (10%) of the
                           employee's compensation without regard to
                           employment by the leasing organization on a
                           specified date.  The safe harbor plan must
                           determine the ten percent (10%) contribution on the
                           basis of compensation as defined in
                           Section 415(c)(3) of the Code plus amounts
                           contributed pursuant to a salary redirection
                           agreement which are excludable from the Employee's
                           gross income under Sections 125 (relating to a
                           cafeteria plan), 402(a)(8) (relating to an
                           arrangement under Section 401(k)), 402(h) (relating
                           to a simplified employee pension
                           plan) or 403(b) (relating to a tax-sheltered
                           annuity) of the Code.

               (ii)        The Committee shall apply this Section 1.13 in a
                           manner consistent with Sections 414(n) and 414(o)
                           of the Code and the Treasury Regulations
                           promulgated thereunder.  The Committee shall reduce
                           a leased employee's allocation of Employer
                           contributions under this Plan by the leased
                           employee's allocation under the leasing
                           organization's plan, but only to the extent that
                           the allocation is attributable to the leased
                           employee's service provided to the Employer.  The
                           leasing organization's plan must be a money
                           purchase pension plan which would satisfy the
                           definition of a safe harbor plan under
                           paragraph (i).

                                       -7-
<PAGE>
         1.14 "Employer" means Monroe Bancorp, and wherever required by the
context of this Plan, an Affiliated Employer, which, by action of its Board of
Directors, adopts this Plan subject to the acceptance of such participation by
the Board, and any successor to one or more of such entities if such successor
shall adopt and continue the Plan by appropriate corporate action. All employees
of: (i) any corporation which is a member of a controlled group of corporations
(as defined in Section 414(b) of the Code) with the Employer; (ii) any trade or
business (whether or not incorporated) which is under common control (as defined
in Section 414(c) of the Code) with the Employer; (iii) any member of an
affiliated service group (as defined in Section 414(m) of the Code) which
includes the Employer; and (iv) any other entity required to be aggregated with
the Employer pursuant to Section 414(o) of the Code and the Treasury Regulations
promulgated thereunder, shall be treated as employed by the Employer only for
purposes of determining the definitions of Compensation, Employee, leased
employee and Highly Compensated Employee under Sections 1.9, 1.13 and 1.20
respectively; determining Breaks in Service under Section 1.6; crediting Hours
of Service under Section 1.21; determining Service under Section 1.42; applying
the Top-Heavy rules under Section 1.43; determining eligibility to participate
under Section 2.1 (unless such employees are specifically excluded from coverage
under the Plan by the Board); determining the limitations on allocations to
Participants' accounts under Article IV; and determination of Vesting Service
under Sections 1.42 and 5.1. In addition, any entity or other organization
described in (i) through (iv), above shall constitute an Affiliated Employer.
Notwithstanding anything to the contrary contained in this Section 1.14, no
provision of this Section 1.14 shall be construed or interpreted to require the
Employer to make an Employer contribution under the Plan for any individual who
is not an Employee.

         1.15 "Employment Commencement Date" means the date on which an Employee
is first credited with an Hour of Service under the Plan.

         1.16 "ERISA" means the Employee Retirement Income Security Act of 1974,
as amended from time to time. References to a section of ERISA shall include
that section and any comparable section or sections of any future legislation
that amends, supplements or supersedes said section.

         1.17 "Family Member" means, with respect to any Employee, such
Employee's spouse and lineal ascendants or descendants and the spouses of such
lineal ascendants or descendants.

                                       -8-
<PAGE>

         1.18 "Fiduciary" means the Employer, the Trustee, the Committee and any
individual, corporation, firm or other entity which assumes responsibilities of
the Employer, the Trustee or the Committee respecting management of the Plan or
the disposition of its assets.

         1.19 "Fund" means the Trust Fund created in accordance with
Article VII.

         1.20 "Highly Compensated Employee" means an Employee who, during the
Plan Year or during the preceding twelve (12) month period:

         (a)      Is a more than five percent (5%) owner of the Employer
                  (applying the constructive ownership rules of Section 318 of
                  the Code and applying the principles of Section 318 of the
                  Code for an unincorporated entity);

         (b)      Has Compensation in excess of Seventy-Five Thousand
                  Dollars ($75,000), as adjusted by the Adjustment Factor;

         (c)      Has Compensation in excess of Fifty Thousand Dollars
                  ($50,000), as adjusted by the Adjustment Factor and is part of
                  the top-paid twenty percent (20%) group of employees (based on
                  Compensation for the relevant year);

         (d)      Has Compensation in excess of fifty percent (50%) of the
                  dollar amount prescribed in Section 415(b)(1)(A) of the Code
                  (relating to Defined Benefit Plans) and is an officer of the
                  Employer.

         If the Employee satisfies the definition in subsection (b), (c) or (d)
in the Plan Year but not during the preceding twelve (12) month period and does
not satisfy subsection (a) in either period, the Employee is a Highly
Compensated Employee only if he is one of the one hundred (100) most highly
compensated Employees for the Plan Year. For purposes of subsection (d), no more
than fifty (50) Employees (or, if lesser, the greater of three (3) Employees or
ten percent (10%) of the Employees) shall be treated as officers. If no Employee
satisfies the Compensation requirement in subsection (d) for the relevant year,
the Committee will treat the highest paid officer as satisfying subsection (d)
for that year. For purposes of determining the number of officers taken into
account under subsection (d), Employees described in Section 414(q)(8) of the
Code shall be excluded.

         For purposes of this Section 1.20, "Compensation" means Compensation as
defined in Section 415(c)(3)(A) of the Code except

                                       -9-
<PAGE>

any exclusions from Compensation and Compensation shall include (i) elective
deferrals under an arrangement described in Section 401(k) of the Code or under
a simplified employee pension plan maintained by the Employer and (ii) amounts
paid by the Employer which are not currently includible in the Employee's gross
income because of Sections 125 (cafeteria plans) or 403(b) (tax-sheltered
annuities) of the Code. The Committee shall make the determination of who is a
Highly Compensated Employee, including the determinations of the number and
identity of the top-paid twenty percent (20%) group, the top one hundred (100)
paid Employees, the number of officers includible in subsection (d) and the
relevant Compensation, consistent with Section 414(q) of the Code and Treasury
Regulations promulgated thereunder. The Employer may make a calendar year
election to determine the Highly Compensated Employees for the Plan Year, as
prescribed by Treasury Regulations. A calendar year election must apply to all
plans and arrangements of the Employer. For purposes of applying any
nondiscrimination test required under the Plan or under the Code, in a manner
consistent with applicable Treasury Regulations, the Committee will not treat as
a separate Employee a Family Member of a Highly Compensated Employee described
in subsection (a) of this Section 1.20, or a Family Member of one of the ten
(10) Highly Compensated Employees with the greatest Compensation for the Plan
Year, but will treat the Highly Compensated Employee and all Family Members as a
single Highly Compensated Employee. This aggregation rule applies to a Family
Member even if that Family Member is a Highly Compensated Employee without
family aggregation.

         The term "Highly Compensated Employee" also includes any former
Employee who separated from Service (or has a deemed Separation from Service, as
determined under Treasury Regulations) prior to the Plan Year, performs no
Service for the Employer during the Plan Year, and was a Highly Compensated
Employee either for the separation year or any Plan Year ending on or after his
fifty-fifth (55th) birthday.

         1.21 "Hour of Service" means:

         (a)      Each Hour of Service for which the Employer, either directly
                  or indirectly, pays an Employee, or for which the Employee is
                  entitled to payment, for the performance of duties. The
                  Committee shall credit Hours of Service under this subsection
                  (a) to the Employee for the computation period in which the
                  Employee performs the duties, irrespective of when paid;

                                      -10-
<PAGE>

         (b)      Each Hour of Service for back pay, irrespective of
                  mitigation of damages, to which the Employer has agreed
                  or for which the Employee has received an award.  The
                  Committee shall credit Hours of Service under this
                  subsection (b) to the Employee for the computation
                  period(s) to which the award or the agreement pertains
                  rather than for the computation period in which the
                  award, agreement or payment is made; and

         (c)      Each Hour of Service for which the Employer, either
                  directly or indirectly, pays an Employee, or for which
                  the Employee is entitled to payment (irrespective of
                  whether the employment relationship is terminated), for
                  reasons other than for the performance of duties during
                  a computation period, such as leave of absence,
                  vacation, holiday, sick leave, illness, incapacity
                  (including disability), layoff, jury duty or military
                  duty.  The Committee will credit no more than five
                  hundred and one (501) Hours of Service under this
                  subsection (c) to an Employee on account of any single
                  continuous period during which the Employee does not
                  perform any duties (whether or not such period occurs
                  during a single Plan Year).  The Committee shall credit
                  Hours of Service under this subsection (c) in accordance
                  with the rules of subparagraphs (b) and (c) of
                  Section 2530.200b-2 of Department of Labor Regulations,
                  which the Plan, by this reference, specifically
                  incorporates in full within this subsection (c).

         The Committee shall not credit an Hour of Service under more than one
of the above subsections. A computation period for purposes of this Section 1.21
is the Plan Year, Year of Service period, Break in Service period or other
period, as determined under the Plan provision for which the Committee is
measuring an Employee's Hours of Service. The Committee will resolve any
ambiguity with respect to the crediting of an Hour of Service in favor of the
Employee.

         The Committee shall credit every Employee with Hours of Service on the
basis of the "actual" method. For purposes of the Plan, the "actual" method
means the determination of Hours of Service from records of hours worked and
hours for which the Employer makes payment or for which payment is due from the
Employer.

         Nothing in this Section 1.21 shall be construed to alter, amend,
modify, invalidate, impair or supersede any law of the United States or any rule
or regulation issued under any such law. The nature and extent of any credit for
Hours of Service under this Section 1.21 shall be determined under such law.

         1.22 "Inactive Participant" means any Employee or former Employee who
has ceased to be a Participant and on whose behalf an Individual Account is
maintained under the Plan.

         1.23 "Individual Account" means the detailed record kept of the amounts
credited or charged to each Participant in accordance with the terms of the
Plan. Such Individual Account is comprised of whichever of the following are
applicable to a particular Participant: Matching Contributions Account, Profit
Sharing Account, Qualified Non-Elective Contributions Account, Rollover Account
and Salary Redirection Contributions Account.

         1.24 "Key Employee" means an Employee or former Employee (including the
Beneficiaries of such Employees) who at any time during the Plan Year or any of
the four (4) preceding Plan Years is:

         (a)      An Employee or former Employee (and the beneficiaries of such
                  Employee) who was an officer of the Employer and such
                  individual's annual compensation exceeded fifty percent (50%)
                  of the dollar limitation in effect under Section 415(b)(1)(A)
                  of the Code;

         (b)      One (1) of the ten (10) Employees having annual
                  compensation from the Employer of more than the
                  limitation in effect under Section 415(c)(1)(A) of the
                  Code and owning (or considered as owning within the
                  meaning of Section 318 of the Code) one (1) of the
                  ten (10) largest interests in the Employer if such
                  Employee's compensation exceeds one hundred percent
                  (100%) of the dollar limitation in effect under
                  Section 415(c)(1)(A) of the Code;

         (c)      A five percent (5%) owner of the Employer, as described
                  in Section 416(i)(1)(B)(i) of the Code; or

         (d)      A one percent (1%) owner of the Employer, as described in
                  Section 416(i)(1)(B)(ii) of the Code, having an annual
                  compensation from the Employer of more than One Hundred and
                  Fifty Thousand Dollars ($150,000).

         For purposes of this Section 1.24 compensation means compensation as
defined in Section 415(c)(3)(A) of the Code, but including amounts contributed
by the Employer pursuant to a salary reduction agreement which are excludible
from the Employee's gross income under Section 402(a)(8) of the Code (relating
to an arrangement under Section 401(k)), Section 402(h) of the Code (relating to
a simplified employee pension plan), Section 125 of the Code (relating to a
cafeteria plan) or Section 403(b) of the Code (relating to a tax-sheltered
annuity).

         For purposes of subsection (a), no more than fifty (50) Employees (or,
if lesser, the greater of three (3) or ten percent (10%) of the Employees) shall
be treated as officers. For purposes of subsection (b), if two (2) Employees
have the same interest in the Employer the Employee having greater annual
compensation from the Employer shall be treated as having a larger interest.
Such term shall not include any officer or employee of an entity referred to in
Section 414(d) of the Code. For purposes of determining the number of officers
taken into account under subsection (a), Employees described in Section
414(q)(8) of the Code shall be excluded. As used herein, "Employer" means the
Employer and any Affiliated Employer.

         1.25 "Limitation Year" means the Plan Year, unless the Board specifies
another twelve (12) consecutive month period through adoption of appropriate
resolutions in which case the new Limitation Year must begin on a date within
the Limitation Year for which the Employer makes the amendment, creating a short
Limitation Year.

         1.26 "Matching Contributions" means contributions made to the Plan by
the Employer for the Plan Year and allocated to a Participant's Individual
Account by reason of the Participant's Salary Redirection Contributions.

         1.27 "Matching Contributions Account" means that portion of a
Participant's Individual Account attributable to (a) Matching Contributions
allocated to such Participant pursuant to Section 4.3 and (b) the Participant's
proportionate share, attributable to his Matching Contribution Account, of the
Adjustments, reduced by any distributions from such account pursuant to Article
V.

         1.28 "Maximum Permissible Amount" means the lesser of: (i)
Thirty-Thousand Dollars ($30,000) (or if greater, one-fourth (1/4) of the
defined benefit dollar limitation prescribed by Section 415(b)(1)(A) of the Code
as in effect for the Limitation Year) or (ii) twenty-five percent (25%) of the
Participant's compensation as defined in Section 415(c)(3)(A) of the Code. The
compensation limitation referred to in (ii) of the preceding sentence shall not
apply to any contribution for medical benefits (within the meaning of Section
419A(f)(2) of the Code) after Separation from Service which is otherwise treated
as an Annual Addition or any amount otherwise treated as an Annual Addition
under Section 415(l)(2) of the Code.

         If there is a short Limitation Year because of a change therein, the
Committee will multiply the Thirty-Thousand Dollar ($30,000) (as adjusted)
limitation by the following fraction:

                    Number of months in short Limitation Year
                    -----------------------------------------
                                       12

         The preceding provisions of this Section 1.28 shall be effective for
Plan Years commencing after December 31, 1986.

         1.29 "Net Profits" means for any Plan Year the net operating profits of
the Employer computed according to generally accepted accounting principles,
excluding any extraordinary gains or losses from nonoperational areas.

         1.30 "Non-Highly Compensated Employee" means an Employee of the
Employer who is neither a Highly Compensated Employee nor a Family Member.

         1.31 "Participant" means any Employee who becomes a
Participant under the provisions of Section 2.1 of the Plan.

         1.32 "Plan" means the Monroe Bancorp Thrift Plan.

         1.33 "Plan Year" means the twelve (12) month period beginning on
January 1 and each anniversary thereof.

         1.34 "Profit Sharing Contributions" means contributions made
to the Fund by the Employer pursuant to Section 3.1.

         1.35 "Profit Sharing Account" means that portion of a Participant's
Individual Account attributable to (a) Profit Sharing Contributions allocated to
such Participant pursuant to Section 4.2 and (b) the Participant's proportionate
share, attributable to his Profit Sharing Account, of the Adjustments, reduced
by any distributions from such account pursuant to Article V.

         1.36 "Qualified Non-Elective Contributions" means contributions (other
than Matching Contributions) made by the Employer and allocated to a
Participant's Individual Account that the Participant may not elect to receive
in cash until distributed from the Plan; that are vested and nonforfeitable when
made; and that together with any income allocable thereto, are not distributable
under the terms of the Plan to Participants or their Beneficiaries before the
earlier of:

         (a)      Separation from Service, death, or Total and Permanent
                  Disability of the Participant;

         (b)      Attainment of age fifty-nine and one-half (59-1/2) by
                  the Participant;

         (c)      Termination of the Plan without establishment of another
                  Defined Contribution Plan (other than an employee stock
                  ownership plan within the meaning of Section 4975(e)(7) of the
                  Code); or

         (d)      The events specified in Section 9.2.

         1.37 "Qualified Non-Elective Contributions Account" means that portion
of a Participant's Individual Account attributable to (a) Qualified Non-Elective
Contributions allocated to such Participant pursuant to Section 3.11 and (b) the
Participant's proportionate share, attributable to his Qualified Non-Elective
Contributions Account, of the Adjustments, reduced by any distributions from
such account pursuant to Article V.

         1.38 "Related Plan" means any other Defined Contribution Plan
maintained by the Employer or by an Affiliated Employer.

         1.39 "Rollover Account" means that portion of a Participant's
Individual Account attributable to (a) rollover contributions and (b) the
Participant's proportionate share, attributable to his Rollover Account, of the
Adjustments, reduced by any distributions from such account pursuant to Article
V or any withdrawals from such account pursuant to Section 3.2.

         1.40 "Salary Redirection Contributions" means contributions made to the
Plan within the time prescribed by Section 3.3, by the Employer, at the election
of the Participant, in lieu of cash compensation and shall include contributions
made pursuant to a Salary Redirection Agreement between the Participant and the
Employer; that are vested and nonforfeitable when made; and that together with
any income allocable thereto, are not distributable under the terms of the Plan
to Participants or their Beneficiaries before the earlier of:

         (a)      Separation from Service, death, or Total and Permanent
                  Disability of the Participant;

         (b)      Attainment of age fifty-nine and one-half (59-1/2) by
                  the Participant;

         (c)      Termination of the Plan without establishment of another
                  Defined Contribution Plan (other than an employee stock
                  ownership plan within the meaning of Section 4975(e)(7) of the
                  Code); or

         (d)      The events specified in Section 9.2.

         1.41 "Salary Redirection Contributions Account" means that portion of a
Participant's Individual Account attributable to (a) Salary Redirection
Contributions allocated to such Participant pursuant to Section 3.3 and (b) the
Participant's proportionate share of the Adjustments, attributable to his Salary
Redirection Contributions Account, reduced by any distributions from such
account pursuant to Article VI.

         1.42 "Service" except as it may be disregarded under the
provisions of Articles II or V, means the following:

         (a)      "Eligibility Service" means the years which are credited to an
                  Employee for the purpose of determining eligibility for
                  participation under the Plan, as described in Section 2.1.

         (b)      "Vesting Service" means the years which are credited to a
                  Participant for the purpose of determining his vested
                  percentage in his Profit Sharing and Matching Contributions
                  Accounts and eligibility for various benefits under the Plan,
                  as described in Article V.

         (c)      "Separation from Service" means a Separation from
                  Service with the Employer.

         For purposes of determining an Employee's eligibility to participate
under the Plan and for determining his nonforfeitable right to his Individual
Account balance attributable to Employer contributions, years of Service and
Breaks in Service (as defined in Section 1.6) shall initially be based on the
period commencing on the Employee's Employment Commencement Date and thereafter
shall be based on each Plan Year (which includes the first anniversary of the
Employee's Employment Commencement Date) beginning after the Employee's
Employment Commencement Date.

         1.43 "Top-Heavy Provisions."  The following provisions shall
become effective in any Plan Year in which the Plan is determined
to be a Top-Heavy Plan:

         (a)      Determination of Top-Heavy.  The Plan will be considered
                  a Top-Heavy Plan for the Plan Year if (1) as of the last
                  day of the preceding Plan Year (the "Determination
                  Date"), the sum of the present value, determined on the
                  Determination Date, of the Individual Accounts
                  (including the portion thereof attributable to the
                  Rollover Accounts to the extent permitted by the
                  Treasury Regulations promulgated under Section 416 of
                  the Code) under the Plan (but not including any
                  allocations to be made as of such last day of the Plan
                  Year except contributions actually made on or before
                  that date) of Participants who are Key Employees exceed
                  sixty percent (60%) of the sum of the present value,
                  determined on the Determination Date, of the Individual
                  Accounts (but not including any allocations to be made
                  as of such last day of the Plan Year except
                  contributions actually made on or before that date) of
                  all Participants (the "60% Test"); or (2) the Plan is
                  part of a Required Aggregation Group and the Required
                  Aggregation Group is Top-Heavy.  However, and
                  notwithstanding the results of the 60% Test, the Plan
                  shall not be considered a Top-Heavy Plan for any Plan
                  Year in which the Plan is part of a Required or
                  Permissive Aggregation Group which is not Top-Heavy.
                  For the first Plan Year that the Plan is in effect, the
                  determination of whether the Plan is Top-Heavy shall be
                  made as of the last day of such Plan Year and in
                  applying the Top-Heavy determination for such first Plan
                  Year, the Individual Accounts of all Participants shall
                  be deemed to include any contributions thereto
                  made after the Determination Date that are allocated as
                  of a date in such first Plan Year.  The Top-Heavy ratio
                  shall be computed in accordance with Section 416(g) of
                  the Code and the Treasury Regulations promulgated
                  thereunder.

                (i)        If the Employer maintains another Defined Benefit
                           Plan or Defined Contribution Plan (including a
                           simplified employee pension plan), or maintained
                           another such plan which now is terminated, this
                           Plan is Top-Heavy only if it is part of the
                           Required Aggregation Group, and the Top-Heavy ratio
                           for the Required Aggregation Group and for the
                           Permissive Aggregation Group, if any, each exceeds
                           sixty percent (60%).  The Committee will calculate
                           the Top-Heavy ratio taking into account all plans
                           within the Required Aggregation Group.  To the
                           extent the Committee must take into account
                           distributions to a Participant, the Committee shall
                           include distributions from a terminated plan which
                           would have been part of the Required Aggregation
                           Group if it were in existence on the Determination
                           Date.  The Committee will calculate the present
                           value of accrued benefits under Defined Benefit
                           Plans or simplified employee pension plans included
                           within the group in accordance with the terms of
                           those plans, Section 416 of the Code and the
                           Treasury Regulations promulgated thereunder.  If a
                           Participant in a Defined Benefit Plan is a Non-Key
                           Employee, the Committee will determine his accrued
                           benefit under the accrual method, if any, which is
                           applicable uniformly to all Defined Benefit Plans
                           maintained by the Employer or, if there is no
                           uniform method, in accordance with the slowest
                           accrual rate permitted under the fractional rule
                           accrual method described in Section 411(b)(1)(C) of
                           the Code.  To calculate the present value of
                           benefits under a Defined Benefit Plan, the
                           Committee will use the actuarial assumptions
                           (interest and mortality only) prescribed by the
                           Defined Benefit Plan(s) to value benefits for Top-
                           Heavy purposes.  If an aggregated plan does not
                           have a valuation date coinciding with the
                           Determination Date, the Committee must value the
                           accrued benefits in the aggregated plan as of the
                           most recent valuation date falling within the
                           twelve (12) month period ending on the
                           Determination Date except as Section 416 of the
                           Code and applicable Treasury Regulations require
                           for the first (1st) and second (2nd) plan year of a
                           Defined Benefit Plan.  The Committee will calculate
                           the Top-Heavy ratio with reference to
                           the Determination Dates that fall within the same
                           calendar year.

               (ii)        In determining whether or not the Plan is a Top-Heavy
                           Plan, the account balances and accrued benefits of a
                           Participant who has not performed Service for the
                           Employer during the five (5) year period ending on
                           the Determination Date shall be disregarded.

              (iii)        For purposes of this Section 1.43, "Required
                           Aggregation Group" shall mean:  (A) each plan of
                           the Employer in which a Key Employee is a
                           Participant and (B) each other plan of the Employer
                           which enables any plan described in (A) to meet the
                           requirements of Section 401(a)(4) or 410 of the
                           Code.  Required Aggregation Group shall also
                           include each terminated plan of the Employer if
                           such plan was maintained within the last five (5)
                           years ending on the Determination Date for the Plan
                           Year in question and would, but for the fact that
                           it terminated, be part of a Required Aggregation
                           Group for such Plan Year.  "Permissive Aggregation
                           Group" shall mean the Required Aggregation Group
                           combined with any other plan maintained by the
                           Employer, provided the resulting combination group
                           would continue to satisfy the requirements of
                           Section 401(a)(4) and 410 of the Code once such
                           other plan is taken into account.  The Committee
                           shall determine which plan or plans maintained by
                           the Employer shall be taken into account in
                           determining the Permissive Aggregation Group.

         (b)      For any Plan Year during which the Plan is deemed a Top-Heavy
                  Plan, the Employer contributions for such Plan Year shall be
                  made and allocated as follows:

                (i)        Each Participant as of the Determination Date and
                           who is not a participant in another plan maintained
                           by the Employer qualified under Section 401(a) of
                           the Code shall receive a minimum "Contribution"
                           equal to the lesser of:  (i) three percent (3%) of
                           the Participant's compensation (within the meaning
                           of Section 415 of the Code) for the Plan Year, or
                           (ii) the highest percentage of compensation (within
                           the meaning of Section 415 of the Code) contributed
                           on behalf of a Key Employee.  For purposes of the
                           preceding sentence, Qualified Non-Elective, Salary
                           Redirection and Matching Contributions to the Plan
                           by or on behalf of a Key Employee shall be taken
                           into account in determining such Key Employee's
                           contribution
                           percentage. Such Contribution shall be made on
                           behalf of all Participants who are Employees and
                           who have not incurred a Separation from Service at
                           the end of the Plan Year in which the Contribution
                           shall be made.  Participants who have become
                           Participants but who subsequently fail to complete
                           one thousand (1,000) Hours of Service at the end of
                           the Plan Year shall be considered as employees
                           covered by the Plan for purposes of this
                           paragraph (i).  For purposes of this paragraph (i),
                           "contribution" shall include (A) Employer
                           contributions and forfeitures, and shall, effective
                           for Plan Years commencing before January 1, 1989,
                           include salary redirection contributions under
                           Section 401(k) of the Code (and shall exclude such
                           contributions for Plan Years commencing after
                           December 31, 1988); (B) amounts paid by the
                           Employer to provide social security benefits; and
                           (C) qualified nonelective contributions described
                           in Section 401(m)(4)(C) of the Code.  Such
                           contribution (to the extent required to be
                           nonforfeitable under subsection (c)) shall not be
                           forfeitable under Section 411(a)(3)(B) or
                           411(a)(3)(D) of the Code.

               (ii)        If Employees of the Employer are covered under both
                           a Defined Benefit Plan maintained by the Employer
                           and both this Plan and the Defined Benefit Plan are
                           Top-Heavy Plans in any Plan Year, all non-key
                           Employees covered by both the Defined Benefit Plan
                           and this Plan shall receive, for all such Plan
                           Years, the minimum benefit prescribed by the
                           Defined Benefit Plan.  If Employees of the Employer
                           are covered by another Defined Contribution Plan
                           maintained by the Employer and both this Plan and
                           the other Defined Contribution Plan are Top-Heavy
                           Plans in any Plan Year, all non-key Employees
                           covered by both the other Defined Contribution Plan
                           and this Plan shall receive, for all such Plan
                           Years, the minimum benefit prescribed by such other
                           Defined Contribution Plan.

                           Provided, however, such other Defined Contribution
                           Plan shall meet the top-heavy vesting requirements
                           and the limitations on compensation specified in
                           Section 416(b) and (d) of the Code, respectively.

         (c)      Notwithstanding the provisions of Section 5.1, for any Plan
                  Year in which the Plan is a Top-Heavy Plan, such Participant's
                  vested percentage in his Matching Contributions and Profit
                  Sharing Accounts shall not be less than the percentage
                  determined in accordance with the following table:

                     Years of              Vested              Forfeited
                  Vesting Service         Percentage           Percentage

                   less than 3                 0%                  100%
                    3 or more                100%                    0%

              (i)        Subject to the requirements of Section 8.1(a), if
                         the Plan becomes a Top-Heavy Plan and subsequently
                         ceases to be such, the above vesting schedule
                         shall continue to apply, at the option of the
                         affected Participant, in determining the vested
                         percentage of any Participant who had at least
                         six (6) Years of Vesting Service as of the last
                         day in the last Plan Year in which the Plan was a
                         Top-Heavy Plan.  For all other Participants, said
                         vesting schedule shall apply only to their
                         Matching Contributions and Profit Sharing Accounts
                         as of such last day of the Plan Year.

             (ii)        Notwithstanding the provisions of subsection (c)
                         and paragraph (i) above, subsection (c) shall not
                         apply to the Profit Sharing Account balance of any
                         Employee who does not have at least one (1)  Hour
                         of Service after the Plan has initially become
                         Top-Heavy and such Employee's Profit Sharing
                         Account balance will be determined without regard
                         to subsection (c).

        (d)     In any Plan Year in which the Plan is a Top-Heavy Plan, Section
                4.8 shall be read by substituting the number "1.00" for the
                number "1.25" wherever it appears therein except such
                substitution shall not have the effect of reducing any benefit
                accrued under a Defined Benefit Plan prior to the first day of
                the Plan Year in which this provision becomes applicable.

        1.44 "Total and Permanent Disability" or "Totally and Permanently
Disabled" means a disability as determined for purposes of the Federal Social
Security Act which qualifies the Participant for permanent disability insurance
payments in accordance with such Act. Disability for purposes of the Plan shall
not include any disability which is incurred while the Participant is on leave
of absence because of military or similar service and for which a governmental
pension is payable. The Committee may require subsequent proof of continued
disability, prior to the Participant's sixty-fifth (65th) birthday, at intervals
of not less than six (6) months. A minimal level of earnings in restricted
activity during any period of disability shall not disqualify a Participant from
receiving disability benefits for such period if the disabled Participant
receives disability benefits under the Social Security Act for the same period.

        1.45 "Trust Agreement" means the agreement entered into between the
Employer and the Trustee pursuant to Article VII.

        1.46 "Trustee" means such individual(s) or financial institution as
shall be designated in the Trust Agreement to hold in trust any assets of the
Plan for the purpose of providing benefits under the Plan, and shall include any
successor to the Trustee initially designated thereunder.

        1.47 "Valuation Date" means the last day of December of each Plan Year,
as of which date the Fund shall be valued at fair market value. The Committee
may, in its discretion, from time to time value the Fund as of any other date or
dates it deems desirable in its discretion.

                                   ARTICLE II
                                  PARTICIPATION

        2.1 Eligibility and Participation.

        (a)     Conditions of Eligibility.

                Each Employee who is a Participant as of the Effective Date
                shall continue to participate in accordance with the provisions
                of this amended and restated Plan.

                Any Employee who has completed one (1) year of Eligibility
                Service and has attained the age of twenty-one (21) shall be
                eligible to become a Participant effective as of the date
                specified in subsection (b).

        (b)     Date of Participation.

                Each Employee shall become a Participant on the first Plan Entry
                Date, provided he is an Employee on such date, which occurs
                after the date on which the Employee satisfies the requirements
                of subsection (a). The Plan Entry Dates shall fall on January 1
                and July 1 of each Plan Year.

                For purposes of this Section 2.1, a year of Eligibility Service
                shall initially be based on the period of twelve (12)
                consecutive months following the Employee's Employment
                Commencement Date during which the Employee is credited with at
                least one thousand (1,000) Hours of Service and thereafter shall
                be based on each Plan Year (which includes the first anniversary
                of the Employee's Employment Commencement Date) beginning after
                the Employee's Employment Commencement Date during which the
                Employee is credited with at least one thousand (1,000) Hours of
                Service.

        (c)     Participation in the Plan shall continue until terminated
                following retirement, Total and Permanent Disability, death or
                other Separation from Service with the Employer, except as
                otherwise provided in Sections 5.1 through 5.3.

        (d)     Employees who are included in a unit of employees
                covered by an agreement which the Secretary of Labor
                finds to be a collective bargaining agreement between
                employee representatives and the Employer, if there is
                evidence that retirement benefits were the subject of
                good faith bargaining between such employee
                representatives and the Employer, shall not be eligible
                to participate in the Plan.  Provided, however, in the
                event an employee described in the preceding sentence
                ceases to be covered by such a collective bargaining
                agreement, then such Employee shall become a
                Participant on the first Plan Entry Date, as defined in
                Section 2.1(b), coinciding with or immediately
                following the date such Employee ceases to be covered
                by such collective bargaining agreement, after which
                such Employee satisfies the eligibility requirements
                specified in Section 2.1(a).  For purposes of this
                subsection (d), in determining such Employee's
                Eligibility Service, his years of Eligibility Service
                commencing on his Employment Commencement Date shall be
                credited to him.

        (e)     Self-employed individuals shall not be eligible to
                participate in this Plan.

        (f)     In the case of a Participant who does not have a
                nonforfeitable right to his Individual Account balance
                derived from Employer contributions, Years of
                Eligibility Service before a period of consecutive one-
                year Breaks in Service will not be taken into account
                in computing Eligibility Service if the number of
                consecutive one-year Breaks in Service in such period
                equals or exceeds the greater of five (5) or the
                aggregate number of Years of Eligibility Service.  Such
                aggregate number of Years of Eligibility Service will
                not include any Years of Eligibility Service
                disregarded under the preceding sentence by reason of
                prior Breaks in Service.

        (g)     An Inactive Participant who did not have a
                nonforfeitable right to any portion of his Individual
                Account balance derived from Employer Contributions at
                the time of Separation from Service will be considered
                a new Employee, for eligibility purposes, if the number
                of consecutive one year Breaks in Service equals or
                exceeds the greater of five (5) or the aggregate number
                of Years of Eligibility Service before such Breaks in
                Service.  If such Inactive Participant's Years of
                Eligibility Service before Separation from Service may
                not be disregarded pursuant to the preceding sentence,
                such Inactive Participant shall participate immediately
                upon reemployment.

        2.2 Plan Binding. Upon becoming a Participant, a Participant shall be
bound then and thereafter by the terms of this Plan and the Trust Agreement,
including all amendments to the Plan and the Trust Agreement made in the manner
herein authorized.

        2.3 Reemployment. A terminated employee who is reemployed by the
Employer shall become a Participant in accordance with whichever provision
of subsection (a) or (b) is applicable.

        (a)     A terminated Participant who later resumes his employment with
                the Employer shall again become a Participant on his
                reemployment date.

        (b)     An Employee who terminated employment with the Employer
                prior to becoming a Participant pursuant to
                Section 2.1, and who later resumes his employment with
                the Employer shall become a Participant on the later of
                (i) his reemployment date, provided he has met the
                eligibility requirements contained in Section 2.1, or
                (ii) the date he would have become a Participant had he
                not terminated employment.

        2.4 Beneficiary Designation. Subject to the provisions of Section 1.4,
upon commencing participation, each Participant shall designate a Beneficiary on
forms furnished by the Committee. Such Participant may then from time to time
change his designated Beneficiary by written notice to the Committee and upon
such change, the rights of all previously designated Beneficiaries to receive
any benefits under this Plan shall cease. If, at the time of a Participant's
death while benefits are still outstanding, his named Beneficiary does not
survive him, the benefits shall be paid to his named contingent Beneficiary. If
a deceased Participant is not survived by either a named Beneficiary or
contingent Beneficiary (or if no Beneficiary was effectively named), the balance
of his Individual Account shall be paid in a single sum to the person or persons
in the first of the following classes of successive preference Beneficiaries
then surviving: the Participant's (a) widow or widower, (b) children, (c)
grandchildren, (d) parents, (e) brothers and sisters, or (f) executors and
administrators. If a Beneficiary or contingent Beneficiary is living at the
death of the Participant, but such person dies prior to receiving the entire
death benefit, the remaining portion of such death benefit shall be paid in a
single sum to the estate of such deceased Beneficiary or contingent Beneficiary.

        2.5 No Credit Upon Acquisition and Recognition of Past Service.

        (a)     If the Employer acquires an entity or division or other
                section of an entity under an arrangement whereby the
                acquired entity is not or ceases to be a separate
                entity and is merged into the Employer or becomes a
                division, subsidiary, or affiliate of the Employer, the
                employees of the acquired entity shall be considered as
                new employees of the Employer for purposes of
                Eligibility and Vesting Service on the date of the
                acquisition and shall become Participants hereunder in
                accordance with Section 2.1.  Notwithstanding the
                preceding sentence, the Board may, in its sole
                discretion, provide for recognition of employment
                (including, if desired, compensation) by the acquired
                entity prior to the acquisition date for purposes of
                eligibility or vesting.  Recognition of employment
                under this Section 2.5 shall be evidenced by resolution
                of the Board, or by such other documentation and
                records as the Committee shall specify.  In the case of
                an individual whose employment is to be recognized
                under this Section 2.5, the Committee may require from
                the individual or the acquired entity such evidence of
                employment as the Committee deems reasonable and
                proper.

        (b)     Notwithstanding the provisions of subsection (a), all
                service prior to the Effective Date with the Employer
                shall be recognized for purposes of eligibility to
                participate under Section 2.1 and for purposes of
                vesting under Section 5.1 to the extent such service
                would be credited under the terms of the Plan (as in
                effect on the Effective Date) for eligibility and
                vesting purposes if the Plan were in existence in such
                prior years.

        2.6 Salary Redirection Election. Each Employee who desires to make
Salary Redirection Contributions must elect, on forms provided by the Committee,
to have Salary Redirection Contributions made on his behalf. A Participant is
not required to elect to have Salary Redirection Contributions made as a
prerequisite to share in any Profit Sharing Contributions to the Plan.

                                   ARTICLE III
                                  CONTRIBUTIONS

        The provisions of Sections 3.3 through 3.9 and 3.11 shall be effective
for Plan Years commencing after December 31, 1986.

        3.1     Profit Sharing Contributions.

        (a)     Amount of Contribution.  Subject to the provisions of
                Section 3.10, for each Plan Year, the Employer may but
                shall not be required to contribute to the Fund an
                amount of cash or other property acceptable to the
                Trustee, which the Board may determine from time to
                time to be advisable.  Although the Employer may
                contribute to this Plan irrespective of whether it has
                any current or accumulated Net Profits, the Employer
                intends the Plan to constitute a profit sharing plan
                for all purposes of the Code.  Provided, however, the
                Employer shall not make a contribution to the Fund for
                any Plan Year to the extent the contribution would
                exceed the Maximum Permissible Amount.

        (b)     Timing of Contributions. Profit Sharing Contributions may be
                made by the Employer to the Fund at any time prior to the time
                prescribed by law for filing the federal income tax return of
                the Employer for the taxable year (including extensions), if
                such contributions are on account of such taxable year.

        (c)     Minimum Top-Heavy Contribution. If the Plan is a Top-Heavy Plan
                in any Plan Year, notwithstanding this Section 3.1 and the
                provisions for allocations of such contributions under Section
                4.2, the Employer shall make the contributions necessary to
                satisfy the minimum allocations required to satisfy the minimum
                contribution required under Section 1.43.

        3.2 Rollover Contributions. An Employee who receives an eligible
rollover distribution, as defined in Code Section 402(c)(4), from a plan which
meets the requirements of Section 401(a) or 403(a) of the Code may, whether or
not he is presently eligible to participate in this Plan and in accordance with
procedures approved by the Committee, transfer the distribution received from
such other plan to the Trustee, provided the following conditions are met:

        (a)     Transfer Within Sixty Days.  The transfer occurs on or
                before the sixtieth (60th) day following his receipt of
                the distribution from the other plan, or, if such
                distribution had previously been deposited in an
                individual retirement account (as defined in Section
                408 of the Code), the transfer occurs on or before the
                sixtieth (60th) day following the receipt of such
                distribution plus earnings thereon from the individual
                retirement account.

        (b)     Maximum Amount. The amount transferred does not exceed an amount
                equal to the amount of the eligible rollover distribution
                received from the other plan, plus any earnings on such sum
                accrued during the period, if any, in which such sum was held in
                an individual retirement account.

        (c)     Value of Rollover Account Not Guaranteed. There shall be no
                guarantee to any Participant, Inactive Participant, or
                Beneficiary of the return of the full amount of a rollover
                contribution in the event the value of his Rollover Account
                shall be less than the full amount of his rollover contribution.

        (d)     Direct Rollovers Not Permitted.  An Employee may not
                elect to have a distribution from another plan paid
                directly into the Plan.  As a result, the Plan is not
                an eligible retirement plan for purposes of Code
                Section 401(a)(31).

        (e)     Rollover Account.  A separate Rollover Account shall be
                established for that part of the transferred amount
                that is attributable to an eligible rollover
                distribution within the meaning of Section 402(e)(4)(A)
                of the Code.  An Employee's Rollover Account shall be
                fully vested and nonforfeitable at all times.  Until
                the Valuation Date immediately following the date on
                which a rollover contribution is made, such rollover
                contribution shall be placed in a segregated account.
                Except to the extent provided in the first sentence of
                this subsection (e), as of such next Valuation Date the
                Rollover Account shall be invested as part of the Fund
                and shall not be segregated as separate assets thereof.

        (f)     Committee Approval Required.  The Committee shall
                develop such procedures, and may require such
                information from the Employee desiring to make a
                rollover contribution, as it deems necessary or
                desirable to determine that the proposed transfer will
                meet the requirements of this Section 3.2.  Upon
                approval by the Committee, the amount transferred shall
                be deposited in the Fund and shall be credited to the
                Employee's Rollover Account in accordance with the
                provisions of subsection (e).  Upon such a transfer by
                an Employee who is not yet a Participant hereunder, his
                Rollover Account shall represent his sole interest in
                the Plan until and if he becomes a Participant.

        (g)     Distributions.  At any time prior to the time
                prescribed by Article V for distributions from the
                Plan, any Employee, Participant, Inactive Participant
                or, to the extent permitted under the Code, a
                Beneficiary entitled to a distribution under the terms
                of the Plan may request (and the Committee shall agree
                to) a distribution of his Rollover Account in a single
                sum, as soon as reasonably practicable, after such
                request in order that such distribution may be
                (i) transferred to an individual retirement account
                described in Section 408(a) of the Code, (ii) applied
                to purchase an individual retirement annuity described
                in Section 408(b) of the Code, or (iii) transferred to
                a trust described in Section 401(a) of the Code which
                is exempt from tax under Section 501(a) of the Code.
                The Committee shall develop such procedures, and may
                require the person entitled to a distribution of a
                Rollover Account to complete such written forms, as the
                Committee shall determine.  In the event a person
                entitled to the distribution of a Rollover Account
                makes a request for such a distribution prior to the
                Valuation Date, and the balance of such account is
                distributed prior to such Valuation Date, the Rollover
                Account shall not be entitled to share in any
                Adjustments since the Valuation Date immediately
                preceding the date of distribution.

        3.3 Salary Redirection Contributions.

        (a)     General.  Subject to the limitations of Section 3.4,
                each Employee who becomes a Participant may, as soon as
                practicable after adoption of the Plan, elect to have
                Salary Redirection Contributions made to the Plan on
                his behalf, by entering into a Salary Redirection
                Agreement with the Employer in which it is agreed that
                the Participant's Employer will redirect a portion of
                the Participant's Compensation not in excess of Seven
                Thousand Dollars ($7,000) for each calendar year
                multiplied by the Adjustment Factor (the "Dollar
                Limitation"), on a pre-tax basis, during each pay
                period, in an amount not less than one percent (1%) nor
                more than fifteen percent (15%) of his Compensation
                during each such pay period, expressed as a whole
                percentage, and contribute that designated percentage
                to the Fund on behalf of the Participant.  In order for
                Salary Redirection Contributions to commence on the
                appropriate date, the Salary Redirection Agreement must
                be received by the Committee at such times as the
                Committee shall direct on a reasonable and
                nondiscriminatory basis.  The amount of Salary
                Redirection Contributions which are made by a
                Participant for any calendar year under the Plan and
                all other plans, contracts or arrangements of
                the Employer shall not exceed the Dollar Limitation as
                in effect for the taxable year beginning in such
                calendar year.

        (b)     Elections Made on Date Other Than First Day of Plan
                Year.  Notwithstanding anything in this Section 3.3 to
                the contrary, unless participation begins on the first
                day of a Plan Year, the election to have salary
                redirection of a specified percent of Compensation
                during each pay period shall be interpreted as an
                election to have salary redirection of such percent of
                Compensation multiplied by a fraction, the numerator of
                which is the number of pay periods in the Plan Year
                over which the salary redirection is to be made and the
                denominator of which is the total number of pay periods
                in a Plan Year.  However, this interpretation shall
                only apply in the initial year of participation in this
                Plan.

        (c)     Initial Time of Election--Reemployed Employees.  A
                Participant or Employee who incurs a Separation from
                Service and who is reemployed by the Employer may elect
                to have Salary Redirection Contributions made on his
                behalf commencing on the later of (i) the date he
                becomes a Participant, (ii) the first day of the month
                next following his date of reemployment, or (iii) at
                such other time(s) as the Committee shall direct on a
                reasonable and nondiscriminatory basis, provided such
                date (under (i), (ii) or (iii)) is at least thirty (30)
                days after receipt of the Salary Redirection Agreement
                by the Committee.

        (d)     Other Times of Election.  In the event a Participant
                does not so elect when initially eligible, either
                because he chooses not to elect or fails to timely
                deliver a Salary Redirection Agreement to the
                Committee, he may subsequently elect to have salary
                redirection made on his behalf effective with the first
                day of any calendar quarter which is at least thirty
                (30) days after the date his election is delivered to
                the Committee.

        (e)     Salary Redirection Agreement.  The Salary Redirection
                Agreement shall be on a form provided by the Committee.
                Such Agreement shall authorize the Employer to reduce
                Compensation otherwise payable to
                the Employee during each pay period by the amount of
                salary redirection elected.

        (f)     Withdrawal of Salary Redirection.  Once contributed to
                the Fund, Salary Redirection Contributions shall be
                credited to the Participant's Salary Redirection
                Contributions Account and shall not be subject to
                withdrawal.

        (g)     Increase in Salary Redirection.  A Participant who
                elects to have Salary Redirection Contributions made to
                the Plan on his behalf pursuant to this Section 3.3
                may, on a Salary Redirection Agreement provided by and
                submitted to the Committee at least thirty (30) days
                prior to the effective date thereof, increase his
                Salary Redirection Contribution percentage (within the
                appropriate minimum and maximum specified in
                subsection (a)) as of the first day of any calendar
                quarter, or at such other time(s) as shall be
                prescribed by the Committee on a reasonable and
                nondiscriminatory basis, but not retroactively, by
                filing such Salary Redirection Agreement with the
                Committee and stating the amount of Salary Redirection
                Contributions he desires to have made on his behalf.

        (h)     Reduction of Salary Redirection.  Any Participant may
                elect to reduce or discontinue future Salary
                Redirection Contributions to the Plan effective with
                the first day of any calendar quarter beginning at
                least thirty (30) days after receipt of a new Salary
                Redirection Agreement showing the reduction or
                discontinuance by the Committee.  In the event any such
                Participant desires thereafter to increase or
                recommence having Salary Redirection Contributions made
                on his behalf, he shall be allowed to do so on the
                first day of any calendar quarter following thereafter,
                or at such other time(s) as shall be permitted by the
                Committee on a reasonable and nondiscriminatory basis,
                by filing a new Salary Redirection Agreement as
                provided by the Committee stating the amount of Salary
                Redirection Contributions he desires to have made on
                his behalf.

        (i)     Payment to Trustee. The Employer shall pay to the Trustee any
                Salary Redirection Contributions made on behalf of any
                Participant not later than the last day of the month following
                the month for which the contribution was due.

        (j)     Modification of Salary Redirection. Notwithstanding anything to
                the contrary, the Committee shall, at its sole option, on a
                reasonable and nondiscriminatory basis, have the discretion to
                allow Participants to modify their Salary Redirection Agreements
                at any time during the Plan Year, if such modifications are
                necessary due to extraordinary circumstances.

        (k)     Effectiveness of Elections. A Participant's properly executed
                and delivered election to have Salary Redirection Contributions
                made to the Plan on his behalf shall remain in effect until
                modified or terminated in accordance with the provisions of this
                Article III.

        3.4     Adjustment to Salary Redirection.

        (a)     In General.  Upon receipt of all Salary Redirection
                Agreements to be effective each January 1st or July 1st
                (or on such later date as the Committee shall establish
                during the first Plan Year in which Salary Redirection
                Contributions are permitted under the Plan), but prior
                to any Salary Redirection Contributions being made for
                any pay period beginning on or after such effective
                date, the Employer shall check the Actual Deferral
                Percentages against the tests identified below.  In the
                event that neither test is met, the Employer shall
                reduce, on a nondiscriminatory basis, the salary
                redirection elections to the extent necessary to meet
                either test.  The determination of which test shall be
                met shall be based upon the test which requires the
                smallest reduction of Salary Redirection Contributions.

              (i)        Test One.  The Average Actual Deferral Percentage
                         for Eligible Participants who are Highly
                         Compensated Employees for the Plan Year shall not
                         exceed the Average Actual Deferral Percentage for
                         Eligible Participants who are Non-Highly
                         Compensated Employees for the same Plan Year
                         multiplied by one and twenty-five hundredths
                         (1.25); or

             (ii)        Test Two.  The Average Actual Deferral Percentage
                         for Eligible Participants who are Highly
                         Compensated Employees for the same Plan Year shall
                         not exceed the Average Actual Deferral Percentage
                         for Eligible Participants who are Non-Highly
                         Compensated Employees for the Plan Year multiplied
                         by two (2.0), provided that the Average Actual
                         Deferral Percentage for Eligible Participants who
                         are Highly Compensated Employees does not exceed
                         the Average Actual Deferral Percentage for
                         Eligible Participants who are Non-Highly
                         Compensated Employees by more than two (2.0)
                         percentage points or such lesser amount as the
                         Secretary of the Treasury shall prescribe to
                         prevent the multiple use of this alternative
                         limitation with respect to any Highly Compensated
                         Employee.

        (b)     Definitions.  For purposes of Article III, the following
                definitions shall be used:

              (i)        "Actual Deferral Percentage" shall mean, for a
                         specified group of Participants for a Plan Year,
                         the average of the ratios (expressed as a
                         percentage and calculated separately for each
                         Participant in such group), of Salary Redirection
                         Contributions and, at the election of the
                         Committee, Qualified Non-Elective Contributions on
                         behalf of the Eligible Participant for the Plan
                         Year to the Eligible Participant's Compensation
                         for such Plan Year.  Provided, however, if such
                         Eligible Participant entered the Plan on a date
                         other than the first day of the Plan Year, such
                         Eligible Participant's compensation shall be
                         limited to the Compensation he received for the
                         Plan Year while he constituted an Eligible
                         Participant.  For purposes of this subsection (b),
                         Salary Redirection Contributions shall include
                         Excess Salary Redirection Amounts but shall
                         exclude Salary Redirection Contributions and
                         Qualified Non-Elective Contributions that are
                         taken into account in administering the Average
                         Contribution Percentage tests prescribed by
                         Section 3.8 provided the Actual Deferral
                         Percentage test is satisfied both with and without
                         the exclusion of such contributions.  All
                         contributions taken into account in satisfying the
                         Actual Deferral Percentage tests shall satisfy the
                         requirements of Section 401(a)(4) of the Code and
                         the Treasury Regulations promulgated thereunder.
                         Provided further, Qualified Non-Elective
                         Contributions shall not be treated as Qualified
                         Matching Contributions if the effect of such
                         treatment would be to increase the Average
                         Contribution Percentage for Eligible Participants
                         who are Highly Compensated Employees and the
                         Average Contribution Percentage for all other
                         Eligible Participants.

             (ii)        "Average Actual Deferral Percentage" shall mean the
                         average (expressed as a percentage) of the Actual
                         Deferral Percentage of the Eligible Participants in a
                         group.

            (iii)        "Eligible Participant" shall mean any Employee of the
                         Employer who is otherwise eligible under the terms of
                         the Plan to have Salary Redirection Contributions
                         allocated to his Individual Account for the Plan Year.

        (c)     Actual Deferral Percentages of Highly Compensated
                Employees.

              (i)        For purposes of this Section 3.4, the Actual
                         Deferral Percentage for any Eligible Participant
                         who is a Highly Compensated Employee for the Plan
                         Year and who is eligible to have Salary
                         Redirection (and Qualified Non-Elective)
                         Contributions allocated to his account under two
                         or more plans or arrangements described in Section
                         401(k) of the Code that are maintained by the
                         Employer or an Affiliated Employer shall be
                         determined as if all such Salary Redirection (and,
                         if applicable, such Qualified Non-Elective)
                         Contributions were made under a single
                         arrangement.  If a Highly Compensated Employee
                         participates in two or more such arrangements that
                         have different Plan Years, all such cash or
                         deferred arrangements ending with or within the
                         same calendar year shall be treated as a single
                         arrangement.

             (ii)        For purposes of determining the Actual Deferral
                         Percentage of an Eligible Participant who is a
                         Highly Compensated Employee on the basis he is a
                         five percent (5%) owner or one (1) of the ten (10)
                         most Highly Compensated Employees, the combined
                         actual deferral ratio for the Family Members (who
                         are treated for purposes of the Average Actual
                         Deferral Percentage tests as one (1) Highly
                         Compensated Employee) shall be the greater of
                         (i) the actual deferral ratio determined by
                         combining the Salary Redirection Contributions
                         (and Qualified Non-Elective Contributions if
                         treated as Salary Redirection Contributions for
                         purposes of the Average Actual Deferral Percentage
                         test) and Compensation of all Family Members who
                         are Highly Compensated Employees without regard to
                         aggregation of Family Members and (ii) the actual
                         deferral ratio determined by combining the Salary
                         Redirection Contributions (and Qualified Non-
                         Elective Contributions) and Compensation of all
                         Family Members.  If the amount calculated under
                         (i) is greater than the amount calculated under
                         (ii), a separate ratio may be needed for the group
                         of Family Members who are not Highly Compensated
                         Employees (without regard to family aggregation).
                         Such separate ratio shall only apply for purposes
                         of correcting Excess Salary Redirection Amounts
                         and shall be determined by combining the Salary
                         Redirection Contributions (and, if applicable,
                         Qualified Non-Elective Contributions) and
                         Compensation of such Employees.  Except to the
                         extent otherwise provided in the preceding
                         provisions of this subsection (c), the Salary
                         Redirection Contributions (and, if applicable,
                         Qualified Non-Elective Contributions) and
                         Compensation of Family Members shall be
                         disregarded for purposes
                         of determining the Actual Deferral Percentage for
                         Non-Highly Compensated Employees.

            (iii)        The determination and treatment of the Salary
                         Redirection Contributions, Qualified Non-Elective
                         Contributions and Actual Deferral Percentage of any
                         Participant shall satisfy such other requirements as
                         may be prescribed by the Secretary of the Treasury.

        (d)     "Actual Deferral Percentages" Defined.  For purposes of
                applying both Test One and Test Two, the Actual
                Deferral Percentage shall be the sum of the deferral
                percentages for each Eligible Participant under each
                cash or deferred arrangement in which the Eligible
                Participant participates.  Additionally, if two (2) or
                more plans in which an Eligible Participant
                participates are considered as one (1) plan for
                purposes of Section 401(a)(4) or 410(b) of the Code
                (other than Section 410(b)(2)(A)(ii) of the Code), the
                cash or deferred arrangements included in such plans
                shall be treated as one arrangement for purposes of
                applying Test One and Test Two.  Provided, further, if
                a Highly Compensated Employee participates in two (2)
                or more cash or deferred arrangements which have
                different plan years, all cash or deferred arrangements
                ending with or within the calendar year shall be
                treated as a single arrangement.  All rules of
                application with reference to Test One and Test Two
                shall be governed by Section 401(k) of the Code and any
                rules or regulations promulgated thereunder.  Deferral
                percentages calculated under this Section 3.4 shall be
                calculated to the nearest one-hundredth of one
                percent (.01%) of Compensation.

        (e)     Date by Which Salary Redirection Contributions Must be
                Made.  In order to be included in the tests prescribed
                by subsection (a), Salary Redirection Contributions and
                Qualified Non-Elective Contributions for a Plan Year
                must be made by the last day of the twelve (12) month
                period immediately following the Plan Year to which the
                Salary Redirection Contributions relate.  Moreover,
                such contributions must be allocated to Participants'
                Individual Accounts for the Plan Year with respect to
                which the tests are performed.  Finally, any Salary
                Redirection Contributions made to the Plan after the
                end of a Plan Year must relate either to Compensation
                that would have been received in such Plan Year (but
                for the election to make Salary Redirection
                Contributions) or to Compensation attributable to such
                Plan Year that would have been received by the
                Participant (but for the election to
                make Salary Redirection Contributions) within two and
                one-half (2-1/2) months after the close of the Plan
                Year.

        (f)     Maintenance of Records. The Committee shall maintain records
                sufficient to demonstrate satisfaction of the tests prescribed
                by subsection (a) and the amounts of the contributions used in
                such tests.

        3.5     Distribution of Excess Salary Redirection Amounts.

        (a)     In General.  Notwithstanding any other provision of the
                Plan, Excess Salary Redirection Amounts plus any income
                and less any losses allocable thereto shall be
                distributed no later than April 15, 1992, and each
                April 15 thereafter, to Participants who properly
                notify the Committee and claim such allocable Excess
                Salary Redirection Amounts for the preceding taxable
                year.  For purposes of this Section 3.5, the "Excess
                Salary Redirection Amount" shall mean the amount of
                Salary Redirection Contributions for a calendar year
                that the Participant allocates to this Plan pursuant to
                the claims procedure set forth in subsection (b) which
                exceeds the Dollar Limitation (as defined in
                Section 3.3(a)) as in effect for the taxable year
                beginning in such calendar year.

        (b)     Claims.  The Participant's claim shall be in writing,
                shall be submitted to the Committee no later than March
                1st; shall specify the Participant's Excess Salary
                Redirection Amount for the immediately preceding
                taxable year of the Participant; and shall be
                accompanied by the Participant's written statement that
                if such amounts are not distributed, such Excess Salary
                Redirection Amount, when added to amounts deferred
                under other plans or arrangements described in
                Sections 401(k), 408(k) or 403(b) of the Code, exceeds
                the limit imposed on the Participant by Section 402(g)
                of the Code for the year in which the deferral
                occurred.  Notwithstanding the provisions of
                subsection (a) and the preceding provisions of this
                subsection (b), a Participant's Excess Salary
                Redirection Amount plus any income and less any losses
                allocable thereto may be distributed to the Participant
                in the same taxable year in which the Excess Salary
                Redirection Amount is made so long as (i) such amount
                is distributed in accordance with the claims procedure
                set forth in the preceding provisions of this
                subsection (b), (ii) the Participant designates the
                distribution as an Excess Salary Redirection Amount,
                (iii) the distribution is made after the date on which
                the Plan received such amount and (iv) the Committee
                designates the distribution as a distribution of an
                Excess Salary Redirection Amount.

        (c)     Maximum Distribution Amount.  The Excess Salary
                Redirection Amount distributed to a Participant with
                respect to a taxable year shall be adjusted for income
                or loss.  The income or loss allocable to the Excess
                Salary Redirection Amounts is equal to the sum of the
                allocable gain or loss for the Participant's taxable
                year and the allocable gain or loss for the period, if
                any, between the end of the taxable year and the date
                of distribution.  The income, if any, allocable to an
                Excess Salary Redirection Amount for the taxable year
                of a Participant, excluding any income allocable to the
                period between the end of the Participant's taxable
                year and the date of distribution, is determined by
                multiplying the income for the Participant's taxable
                year allocable to Salary Redirection Contributions by a
                fraction, the numerator of which is the amount of
                Excess Salary Redirection Amount made by the
                Participant for such taxable year and the denominator
                of which is the total balance of the Participant's
                Individual Account attributable to Salary Redirection
                Contributions as of the end of the taxable year,
                reduced by any gain allocable to such total amount for
                the taxable year and increased by the loss allocable to
                such total amount for the taxable year.  The allocable
                income or loss for the period between the end of the
                taxable year and the date of distribution shall be
                calculated on the basis that such income or loss is
                equal to ten percent (10%) of the income or loss
                allocable to Excess Salary Redirection Amounts for the
                taxable year, as determined under the preceding
                sentence, multiplied by the number of calendar months
                that have elapsed since the end of the taxable year.
                For purposes of determining the number of such calendar
                months, a distribution which occurs on or before the
                fifteenth (15th) day of the month will be treated as
                having been made on the last day of the preceding
                month, and a distribution which occurs after such
                fifteenth (15th) day of the month will be treated as
                having been made on the first day of the next month.
                If an Excess Salary Redirection Amount is distributed
                within the same taxable year in which the Excess Salary
                Redirection Amount is made, the income, if any,
                allocable to the Salary Redirection Contributions from
                the beginning of the taxable year to the date on which
                the distribution is made shall be determined by using
                the method prescribed in the preceding provisions of
                this subsection (c).

        (d)     Reduction of Excess Salary Redirection Amounts.  The
                Excess Salary Redirection Amount otherwise
                distributable to a Participant for a taxable year under
                this Section 3.5 shall be reduced by the amount
                of any Excess Contributions, if any, as described in
                Section 3.6, previously distributed to the Participant
                for the Plan Year beginning with or within such taxable
                year.  In no event shall a Participant receive a
                distribution for a taxable year in an amount in excess
                of the Participant's total Salary Redirection
                Contributions to the Plan for the taxable year.

        3.6     Distribution of Excess Contributions.

        (a)     In General.  Notwithstanding any other provision of the
                Plan, Excess Contributions plus any income and less any
                losses allocable thereto shall be distributed no later
                than April 15, 1992, and each April 15th thereafter, to
                Highly Compensated Employees on whose behalf such
                Excess Contributions were made for the preceding Plan
                Year.  Excess Contributions shall be distributed to
                appropriate Highly Compensated Employees after the
                close of the Plan Year in which the Excess
                Contributions arose.  For purposes of this Section 3.6,
                "Excess Contributions" shall mean, with respect to any
                Plan Year, the excess of (i) the aggregate amount of
                Employer contributions actually taken into account in
                computing the Actual Deferral Percentage of Highly
                Compensated Employees for such Plan Year over (ii) the
                maximum amount of such contributions permitted by the
                Actual Deferral Percentage tests specified in
                Section 3.4(a) (determined by reducing contributions
                made on behalf of Highly Compensated Employees in order
                of their respective Actual Deferral Percentages,
                commencing with the highest of such percentages).  Any
                Excess Contributions for a Plan Year shall not remain
                unallocated under the Plan or be allocated to a
                suspense or limitation account for allocation to one
                (1) or more Participants in any future Plan Year.

        (b)     Determination of Excess Contributions.  The amount of
                Excess Contributions for a Highly Compensated Employee
                for a Plan Year shall be determined under the following
                leveling method, under which the actual deferral ratio
                of the Highly Compensated Employee with the highest
                actual deferral ratio shall be reduced to the extent
                required to (1) enable the arrangement to satisfy
                either of the Actual Deferral Percentage tests
                specified in Section 3.4(a), or (ii) cause such Highly
                Compensated Employee's actual deferral ratio to equal
                the ratio of the Highly Compensated Employee with the
                next highest deferral ratio.  The procedure specified
                in the preceding sentence shall be repeated until the
                Plan satisfies either of the Actual Deferral Percentage
                tests specified in Section 3.4(a).  For each Highly
                Compensated Employee, the amount of Excess
                Contributions is equal to the total Salary Redirection
                Contributions made to the Plan by the Highly
                Compensated Employee for the Plan Year plus Qualified
                Non-Elective Contributions, if any, treated as Salary
                Redirection Contributions, on behalf of the Highly
                Compensated Employee determined prior to the
                application of the leveling process contained in this
                subsection (b) minus the amount determined by
                multiplying the Highly Compensated Employee's actual
                deferral ratio determined after application of such
                leveling process by his Compensation used in
                determining such ratio.

        (c)     Maximum Distribution Amount.  The Excess Contributions
                which would otherwise be distributed to a Highly
                Compensated Employee shall be adjusted for income or
                loss.  The income or loss allocable to Excess
                Contributions is equal to the sum of the allocable gain
                or loss for the Plan Year and the allocable gain or
                loss, if any, for the period between the end of the
                Plan Year and the date of distribution.  The income, if
                any, allocable to a Highly Compensated Employee's
                Excess Contributions for a Plan Year, excluding any
                income allocable to the period between the end of the
                Plan Year and the date of distribution, is determined
                by multiplying the income for the Plan Year allocable
                to Salary Redirection Contributions (and any amounts
                treated as Salary Redirection Contributions) by a
                fraction, the numerator of which is the Highly
                Compensated Employee's Excess Contributions for the
                Plan Year and the denominator of which is the total
                balance of the Highly Compensated Employee's Individual
                Account attributable to Salary Redirection
                Contributions (and amounts treated as Salary
                Redirection Contributions) as of the end of the Plan
                Year, reduced by the gain attributable to such total
                amount for the Plan Year and increased by the loss
                allocable to such total amount for the Plan Year.  The
                allocable income or loss for the period between the end
                of the Plan Year and the date of distribution shall be
                calculated on the basis that such income or loss is
                equal to ten percent (10%) of the income allocable to
                the Excess Contributions for the Plan Year, as
                determined under the preceding sentence, multiplied by
                the number of calendar months that have elapsed since
                the end of the Plan Year.  For purposes of determining
                the number of such calendar months, a distribution
                which occurs on or before the fifteenth (15th) day of
                the month will be treated as having been made on the
                last day of the preceding month and a distribution made
                after the fifteenth (15th) day of the month will be
                treated as having been made on the first day of the
                next month.

        (d)     Accounting for Excess Contributions. In no case shall the amount
                of Excess Contributions to be distributed for a Plan Year with
                respect to any Highly Compensated Employee exceed the amount of
                Salary Redirection Contributions made to the Plan by such Highly
                Compensated Employee for such Plan Year.

        (e)     Reduction of Excess Contributions.  The Excess
                Contributions otherwise distributable to a Plan for a
                Plan Year under this Section 3.6 shall be reduced by
                the amount of any Excess Salary Redirection Amount, as
                described in Section 3.5, previously distributed to the
                Highly Compensated Employees for the Highly Compensated
                Employee's taxable year ending with or within such Plan
                Year.

        (f)     Designation of Excess Contributions. Excess Contributions and
                any income allocable thereto distributed to Highly Compensated
                Employees pursuant to this Section 3.6 shall be designated in
                writing by the Committee as a distribution of Excess
                Contributions and income allocable thereto.

        3.7     Matching Contributions.

        (a)     As of the annual Valuation Date, the Employer shall
                contribute an amount on behalf of each eligible
                Participant necessary to match fifty percent (50%) of
                each eligible Participant's eligible Salary Redirection
                Contributions up to four percent (4%) of such
                Participant's Compensation made to the Fund since the
                last preceding annual Valuation Date by each such
                eligible Participant.

For this purpose, an "eligible" Participant is a Participant described in
Section 3.4(b).

        (b)     For purposes of subsection (a), "eligible" Salary Redirection
                Contributions shall mean Salary Redirection Contributions not to
                exceed fifteen percent (15%) of Compensation. Subject to
                Sections 3.8 and 3.9, Matching Contributions shall be allocated
                to the Participant's Matching Contributions Account in
                accordance with Section 4.3.

        3.8     Nondiscrimination Requirements For Matching Contributions.
All Matching Contributions made to the Plan shall be subject to the following
requirements:

        (a)     Average Contribution Percentage Requirement. The Average
                Contribution Percentage for Eligible Participants who are Highly
                Compensated Employees for the Plan Year and the Average
                Contribution Percentage for Eligible Participants for the same
                Plan Year must satisfy one of the following tests:

              (i)        Test One.  The Average Contribution Percentage for
                         Participants who are Highly Compensated Employees
                         for the Plan Year shall not exceed the Average
                         Contribution Percentage for Participants who are
                         Non-Highly Compensated Employees for the same Plan
                         Year multiplied by one and twenty-five hundredths
                         (1.25); or

             (ii)        Test Two.  The Average Contribution Percentage for
                         Eligible Participants who are Highly Compensated
                         Employees for the Plan Year shall not exceed the
                         Average Contribution Percentage for Eligible
                         Participants who are Non-Highly Compensated
                         Employees for the same Plan Year multiplied by two
                         (2.0), provided that the Average Contribution
                         Percentage for Eligible Participants who are
                         Highly Compensated Employees does not exceed the
                         Average Contribution Percentage for Eligible
                         Participants who are Non-Highly Compensated
                         Employees by more than two (2.0) percentage points
                         or such lesser amount as the Secretary of the
                         Treasury shall prescribe to prevent the multiple
                         use of this alternative limitation with respect to
                         any Highly Compensated Employee.

        (b)     Definitions.  For purposes of this Article III, the
                following definitions shall apply.

              (i)        "Average Contribution Percentage" shall mean the
                         average (expressed as a percentage) of the Contribution
                         Percentages of the Eligible Participants in a group.

             (ii)        "Contribution Percentage" shall, subject to the
                         provisions of subsection (g), mean the ratio
                         (expressed as a percentage), of the sum of the
                         Contribution Percentage Amounts under the Plan on
                         behalf of the Eligible Participant for the Plan
                         Year to the Eligible Participant's Compensation
                         for the Plan Year.  Provided, however, if such
                         Eligible Participant entered the Plan on a date
                         other than the first day of the Plan Year, such
                         Eligible Participant's compensation shall be
                         limited to the Compensation he received for the
                         Plan Year while he constituted an Eligible
                         Participant.

            (iii)        "Contribution Percentage Amount" shall mean the
                         sum of Matching Contributions (to the extent not
                         taken into account by the Committee in satisfying
                         the Actual Deferral Percentage Tests prescribed by
                         Section 3.4(a)) made under the Plan on behalf of
                         the Participant for the Plan Year.  The Committee
                         may, in its discretion, elect to utilize Qualified
                         Non-Elective Contributions and Salary Redirection
                         Contributions so long as one of the Actual
                         Deferral Percentage tests is met before such
                         Qualified Non-Elective Contributions and Salary
                         Redirection Contributions are utilized in the
                         Actual Contribution Percentage tests and continues
                         to be met following the exclusion of those
                         Qualified Non-Elective Contributions and Salary
                         Redirection Contributions that are used to meet
                         the Average Contribution Percentage tests.  All
                         contributions taken into account in satisfying the
                         Average Compensation Percentage Tests shall
                         satisfy the requirements of Section 401(a)(4) of
                         the Code and the Treasury Regulations promulgated
                         thereunder.

             (iv)        "Eligible Participant" shall mean any Employee who is
                         otherwise eligible under the terms of the Plan to make
                         Salary Redirection Contributions (if the Committee
                         takes such contributions into account in the
                         calculation of the Contribution Percentage) or to
                         receive an allocation of Matching Contributions.

        (c)     Special Rules.

              (i)        For purposes of this Section 3.8, the Contribution
                         Percentage for any Eligible Participant who is a
                         Highly Compensated Employee for the Plan Year and
                         who is eligible to have Contribution Percentage
                         Amounts allocated to his account under two (2) or
                         more plans described in Section 401(a) of the Code
                         or arrangements described in Section 401(k) of the
                         Code that are maintained by the Employer or an
                         Affiliated Employer shall be determined as if the
                         total of such Contribution Percentage Amounts was
                         made under each Plan.  If a Highly Compensated
                         Employee participates in two or more cash or
                         deferred arrangements that have different Plan
                         Years, all cash or deferred arrangements ending
                         with or within the same calendar year shall be
                         treated as a single arrangement.

             (ii)        If one or more Highly Compensated Employees
                         participate in both a cash or deferred arrangement
                         and a plan subject to the Average Contribution
                         Percentage tests maintained by the
                         Employer or an Affiliated Employer and the sum of
                         the Actual Deferral and Average Contribution
                         Percentages of those Highly Compensated Employees
                         subject to either or both tests exceeds the
                         "aggregate limit", then the Average Contribution
                         Percentage of those Highly Compensated Employees
                         who also participate in a cash or deferred
                         arrangement will be reduced (beginning with the
                         Highly Compensated Employees whose Actual Deferral
                         Percentage is the highest) so that the limit is
                         not exceeded.  The amount by which each Highly
                         Compensated Employee's Contribution Percentage
                         Amount is reduced shall be treated as an Excess
                         Aggregate Contribution under Section 3.9.  The
                         Actual Deferral and Average Contribution
                         Percentages of the Highly Compensated Employees
                         shall be determined after any corrections required
                         to meet the Actual Deferral and Average
                         Contribution Percentage tests.  Multiple use shall
                         not be deemed to have occurred if both the Actual
                         Deferral and Average Contribution Percentage of
                         the Highly Compensated Employees does not exceed
                         one and twenty-five hundredths (1.25) multiplied
                         by the Actual Deferral and Average Contribution
                         Percentage of the Non-Highly Compensated
                         Employees.  For purposes of this paragraph (ii),
                         "aggregate limit" means the sum of (A) the Actual
                         Deferral Percentage of the Highly Compensated
                         Employees for the Plan Year or the Average
                         Contribution Percentage of the Non-Highly
                         Compensated Employees under the plan subject to
                         Section 401(m) of the Code for the Plan Year
                         beginning with or within the Plan Year of the cash
                         or deferred arrangement and (B) the lesser of two
                         hundred percent (200%) or two (2.0) plus the
                         lesser of such Actual Deferral and Average
                         Contribution Percentage.

        (d)     Aggregation of Plans.  In the event that this Plan
                satisfies the requirements of Section 410(b) of the
                Code only if aggregated with one or more other plans,
                or if one or more other plans satisfy the requirements
                of Section 410(b) of the Code only if aggregated with
                this Plan, then this Section 3.8 shall be applied by
                determining the Contribution Percentage of Eligible
                Participants as if all such plans were a single plan.
                For plan years beginning after December 31, 1989, plans
                may be aggregated in order to satisfy the Average
                Contribution Percentage tests only if they have the
                same plan year.

        (e)     Aggregation of Family Members.  For purposes of
                determining the Contribution Percentage of an Eligible
                Participant who is a Highly Compensated Employee on the
                basis he is a five percent (5%) owner or one (1) of the
                ten (10) most Highly Compensated Employees, the
                combined actual contribution ratio for the Family
                Members (who are treated for purposes of the Average
                Contribution Percentage tests as one (1) Highly
                Compensated Employee) shall be the greater of (i) the
                Contribution Percentage Amounts and Compensation of all
                Family Members who are Highly Compensated Employees
                without regard to aggregation of Family Members and
                (ii) the Contribution Percentage Amounts and
                Compensation of all Family Members.  If the amount
                calculated under (i) is greater than the amount
                calculated under (ii), it may be necessary for purposes
                of correcting Excess Aggregate Contributions of the
                Family Members specified in the preceding provisions of
                this subsection (e), to calculate an actual
                contribution ratio for the group of eligible Family
                Members who are not Highly Compensated Employees
                without regard to family aggregation.  This actual
                contribution percentage is determined by combining
                Contribution Percentage Amounts and Compensation of all
                such Employees.  Except to the extent otherwise
                provided in the preceding provisions of this
                subsection (e), the Contribution Percentage Amounts and
                Compensation for all Family Members are disregarded for
                purposes of determining the Actual Contribution
                Percentage for Non-Highly Compensated Employees.

        (f)     Other Requirements.  The determination and treatment of
                the Contribution Percentage of any Participant shall
                satisfy such other requirements as may be prescribed by
                the Secretary of the Treasury.

        (g)     Computing Contribution Percentage.  In computing the
                Contribution Percentage, Matching and Qualified Non-
                Elective Contributions shall be taken into account
                under this Section 3.8 for a Plan Year only if such
                contributions are (i) allocated in accordance with
                Article IV as of a date within such Plan Year,
                (ii) actually paid to the Fund no later than the end of
                the twelve (12) month period after the end of such Plan
                Year, and (iii) made to the Plan on account of Salary
                Redirection Contributions.  Contribution Percentages
                calculated under this Section 3.8 shall be calculated
                to the nearest one-hundredth of one percent (.01%) of
                Compensation.

        (h)     Maintenance of Records. The Committee shall maintain records
                sufficient to demonstrate satisfaction of the tests prescribed
                by subsection (a) and the amount of the Qualified Non-Elective
                Contributions used in such tests.

        3.9     Distribution of Excess Aggregate Contributions.

        (a)     In General.  Notwithstanding any other provision of the
                Plan, the Excess Aggregate Contributions plus any
                income less any losses allocable thereto shall be
                distributed no later than April 15, 1992, and each
                April 15th thereafter, to Highly Compensated Employees
                on whose behalf such Excess Aggregate Contributions
                were made for the preceding Plan Year.  Excess
                Aggregate Contributions shall be distributed to
                appropriate Highly Compensated Employees after the
                close of the Plan Year in which the Excess Aggregate
                Contributions arose.  For purposes of this Section 3.9
                "Excess Aggregate Contributions" shall mean, with
                respect to any Plan Year, the excess of the (i) the
                Aggregate Contribution Percentage Amounts taken into
                account in computing the numerator of the Contribution
                Percentage actually made on behalf of Highly
                Compensated Employees for such Plan Year over (ii) the
                Maximum Contribution Percentage Amounts permitted by
                the Average Contribution Percentage tests (determined
                by reducing contributions made on behalf of the Highly
                Compensated Employees in order of their Contribution
                Percentages beginning with the highest of such
                percentages).  Such determination shall be made after
                first determining Excess Salary Redirection
                Contributions pursuant to Section 3.5 and then
                determining Excess Contributions pursuant to
                Section 3.6.   Excess Aggregate Contributions for a
                Plan Year shall not remain unallocated under the Plan
                or be allocated to a suspense or limitation account for
                allocation to one (1) or more Participants in any
                future Plan Year.

        (b)     Determination of Excess Aggregate Contributions.  The
                amount of Excess Aggregate Contributions for a Highly
                Compensated Employee for a Plan Year shall be
                determined under the following leveling method, under
                which the actual contribution ratio of the Highly
                Compensated Employee with the highest actual
                contribution ratio is reduced to the extent required to
                (i) enable the Plan to satisfy either of the Average
                Contribution Percentage tests specified in Section 3.8
                or (ii) cause such Highly Compensated Employee's actual
                contribution ratio to equal the ratio of the Highly
                Compensated Employee with the next highest actual
                contribution ratio.  The procedure specified in the
                preceding sentence shall be repeated until the Plan
                satisfies either of the Average
                Contribution Percentage tests specified in Section 3.8.
                For each Highly Compensated Employee, the amount of
                Excess Aggregate Contributions is equal to the total
                Matching Contributions plus Qualified Non-Elective
                Contributions and Salary Redirection Contributions, if
                any, treated as Matching Contributions, on behalf of
                the Highly Compensated Employee determined prior to the
                leveling process contained in this subsection (b) minus
                the amount determined by multiplying the Highly
                Compensated Employee's actual contribution ratio,
                determined after the application of such leveling
                process by his Compensation used in determining such
                ratio.

        (c)     Maximum Distribution Amount.  The Excess Aggregate
                Contributions which would otherwise be distributed to a
                Highly Compensated Employee shall be adjusted for
                income or loss.  The income or loss allocable to Excess
                Aggregate Contributions is equal to the sum of the
                allocable gain or loss for the Plan Year and the
                allocable gain or loss for the period between the end
                of the Plan Year and the date of the distribution.  The
                income, if any, allocable to Excess Aggregate
                Contributions for a Plan Year, excluding any income
                allocable to the period between the end of the Plan
                Year and the date of the distribution, is determined by
                multiplying the income for the Plan Year allocable to
                Matching Contributions (and amounts treated as Matching
                Contributions) by a fraction, the numerator of which is
                the amount of Excess Aggregate Contributions made on
                behalf of the Highly Compensated Employee for the Plan
                Year and the denominator of which is the total balance
                of the Individual Accounts of the Highly Compensated
                Employees attributable to Matching Contributions (and
                amounts treated as Matching Contributions) as of the
                end of the Plan Year, reduced by the gain allocable to
                such total amount for the Plan Year and increased by
                the loss allocable to such total amount for the Plan
                Year.  The allocable income or loss for the period
                between the end of the Plan Year and the date of
                distribution shall be calculated on the basis that such
                income or loss is equal to ten percent (10%) of the
                income or loss allocable to the Excess Aggregate
                Contributions for the Plan Year, as determined under
                the preceding sentence, multiplied by the number of
                calendar months that have elapsed since the end of the
                Plan Year.  For purposes of determining the number of
                calendar months, a distribution which occurs on or
                before the fifteenth (15th) day of the month will be
                treated as having been made on the last day of the
                preceding month and a distribution which occurs after
                such fifteenth (15th) day shall be treated as having
                been made on the first day of the next month.

        (d)     Accounting for Excess Aggregate Contributions. Excess Aggregate
                Contributions shall be distributed on a pro-rata basis from the
                Participant's Matching Contributions Account (and, if
                applicable, the Participant's Qualified Non-Elective or Salary
                Redirection Contribution Accounts, or both).

        (e)     Designation of Excess Aggregate Contributions. Excess Aggregate
                Contributions and any income allocable thereto distributed to
                Highly Compensated Employees pursuant to this Section 3.9 shall
                be designated in writing by the Committee as a distribution of
                Excess Aggregate Contributions and income allocable thereto.

        3.10 Exclusive Benefit of Employees. All contributions made pursuant to
the Plan shall be held by the Trustee in accordance with the terms of the Trust
Agreement for the exclusive benefit of those Employees who are Participants
under the Plan, any Inactive Participant, and their Beneficiaries, and shall be
applied to provide benefits under the Plan and to pay expenses properly
attributable to administration of the Plan and the Trust, to the extent that
such expenses are not otherwise paid. At no time prior to the satisfaction of
all liabilities with respect to such Employees and their Beneficiaries shall any
part of the Fund (other than such part as may be required to properly pay
administration expenses and taxes) be used for, or diverted to, purposes other
than for the exclusive benefit of such Participants, Inactive Participants and
their Beneficiaries. However, without regard to the provisions of this Section
3.10:

        (a)     All contributions under the Plan are conditioned on
                initial qualification or subsequent amendment of the
                Plan under Section 401(a) of the Code, and if the Plan
                does not so qualify, either initially or as amended,
                the Trustee shall, upon written request of the
                Employer, return to the Employer the amount of such
                contribution within one (1) calendar year after the
                date that qualification of the Plan is denied but only
                if the application for qualification of the Plan is
                made by the time prescribed by law for filing the
                employee's return for the taxable year in which the
                plan is adopted, or such later date as may be
                prescribed by the Secretary of the Treasury;

        (b)     All contributions are conditioned upon the deductibility of the
                contribution under Section 404 of the Code and to the extent the
                deduction is disallowed, the Trustee shall, upon written request
                of the Employer, return the contribution (to the extent
                disallowed) to the Employer within one (1) year after the date
                the deduction is disallowed; and

        (c)     If a contribution or any portion thereof is made by the Employer
                by a mistake of fact, the Trustee shall, upon written request of
                the Employer, return the contribution or such portion to the
                Employer within one (1) year after the date of payment to the
                Trustee.

        The Trustee shall not increase the amount of the Employer contribution
returnable under this Section 3.10 for any income attributable to such
contribution; however, the Trustee shall decrease the Employer contribution
returnable for any losses allocable thereto. The Trustee may require the
Employer to furnish it with whatever evidence the Trustee considers reasonably
necessary to enable the Trustee to confirm the amount the Employer has requested
to be returned as properly returnable under the applicable provisions of ERISA.

        3.11 Qualified Non-Elective Contributions. In lieu of distributing
Excess Contributions, as provided in Section 3.6, or Excess Aggregate
Contributions, as provided in Section 3.9, the Employer may, in its discretion,
make Qualified Non-Elective Contributions on behalf of Non-Highly Compensated
Employees which are sufficient to satisfy either the Actual Deferral Percentage
test or the Average Contribution Percentage test, or both, as provided in the
Treasury Regulations. Qualified Non-Elective Contributions shall be allocated to
the Qualified Non-Elective Contributions Accounts of Participants entitled to
receive an allocation in the ratio which each such Participant's Compensation
bears to the total Compensation of all Participants for such Plan Year. Provided
further, in lieu of distributing Excess Aggregate Contributions, as provided in
Section 3.9, the Employer may, in its discretion, make Qualified Matching
Contributions on behalf of Non-Highly Compensated Employees which are sufficient
to satisfy the Average Contribution Percentage tests, as provided in the
Treasury Regulations.

                                   ARTICLE IV
                       ALLOCATIONS TO INDIVIDUAL ACCOUNTS

        4.1 Individual Accounts. The Committee shall establish and maintain an
Individual Account in the name of each Participant to which the Committee shall
credit all amounts allocated to each such Participant pursuant to Article III
and the following Sections of this Article IV. Each Individual Account shall be
comprised of whichever of the following are applicable to a particular
Participant: a Profit Sharing Account, a Rollover Account, a Salary Redirection
Contributions Account, a Qualified Non-Elective Contribution Account and a
Matching Contributions Account.

        4.2 Allocation of Profit Sharing Contributions. The Committee, as of the
last day of each Plan Year (or such other Valuation Date as the Committee shall
determine), shall determine for each eligible Participant, his share of Profit
Sharing Contributions contributed in accordance with Section 3.1. Subject to the
provisions of Section 1.43, each Participant described in Section 3.1 who is an
Employee on the last day of such Plan Year and who completed one thousand
(1,000) Hours of Service during the Plan Year shall receive an allocation in the
proportion that the Participant's Compensation (as defined in Section 1.9) for
the Plan Year bears to the total Compensation of all such Participants for such
Plan Year. Provided, however, for purposes of this Section 4.2, in the case of a
Participant who enters the Plan on a date other than the first day of the Plan
Year, such Participant's Compensation shall include only that Compensation paid
to the Participant on and after becoming a Participant. Provided, further, a
Participant who is not an Employee on the last day of the Plan Year shall also
share in the allocation of Profit Sharing Contributions for the Plan Year of his
retirement upon or after attaining his Normal Retirement Age, Total and
Permanent Disability or death. Each Participant's share of the Profit Sharing
Contribution shall be allocated to his Profit Sharing Account.

        4.3 Allocation of Matching Contributions. The Committee, as of the last
day of the Plan Year (or such other Valuation Date as the Committee shall
determine), shall determine for each eligible Participant, his share of Matching
Contributions contributed in accordance with Section 3.7. The Matching
Contributions shall be allocated to the Matching Contribution Accounts of each
Participant (i) who made Salary Redirection Contributions to the Fund since the
last Valuation Date and (ii) who is an Employee on the last day of such Plan
Year and who completed one thousand (1,000) Hours of Service during the Plan
Year. Provided, however, a Participant who is not an Employee on the last day of
the Plan Year but who made Salary Redirection Contributions during such Plan
Year shall also share in the allocation of Matching Contributions for the Plan
Year of his retirement upon or after attaining his Normal Retirement Age, Total
and Permanent Disability or death.

        4.4     Allocation of Adjustments.

        (a)     Determination of Adjustment.  Following the allocations
                ---------------------------
                made pursuant to Sections 4.2 and 4.3, the Committee
                shall determine the Adjustment for the current
                Valuation Date by adding together all income received,
                and realized and unrealized gains and losses, and
                deducting therefrom all taxes, charges or expenses
                (unless paid separately by the Employer in its
                discretion, outside the confines of this Plan) and any
                realized and unrealized losses since the preceding
                Valuation Date which may have been sustained by the
                Fund.  In determining the fair market value of the Fund
                for purposes of making the Adjustment, the Committee
                shall exclude (i) any Employer or rollover
                contributions made on account of the period ending on
                the current Valuation Date, (ii) distributions made
                from the Fund during the period commencing with such
                last preceding Valuation Date and ending with the
                current Valuation Date and (iii) any income received
                with respect to Rollover Accounts or accounts which
                have been segregated in accordance with the provisions
                of Sections 3.2(e), 5.3 and 6.2.

        (b)     Allocation of Adjustment.  The Adjustment shall be
                allocated as of the current Valuation Date to the
                Individual Accounts of Participants, Inactive
                Participants and Beneficiaries who maintain a credit
                balance in their Individual Account, as of such
                Valuation Date, in the same proportion that the balance
                of each Participant's Individual Account as of the
                current Valuation Date (excluding allocations made
                under Sections 4.2 and 4.3 for the period ending on the
                current Valuation Date and previously allocated to such
                Individual Account) bears to the balance of all
                Individual Accounts of Participants, Inactive
                Participants and Beneficiaries in the Fund on the
                current Valuation Date (excluding allocations made
                under Sections 4.2 and 4.3 for the period ending on the
                current Valuation Date and previously allocated to such
                Individual Accounts).  Provided, further, in allocating
                the Adjustment, the Committee shall not take into
                account (i) any rollover contributions made to the
                Trustee since the last preceding Valuation Date and
                segregated under a separate account in accordance with
                the provisions of Sections 3.2(e) or (ii) any amounts
                which have been allocated to segregated accounts in
                accordance with the provisions of Sections 5.3 and 6.2.

        Provided, further, the portion of the contributions to be included shall
be weighted, in a reasonable and nondiscriminatory fashion, to be determined by
the Committee, to reflect the time since the immediately preceding Valuation
Date during which such amounts were actually held and invested by the Trustee.
In addition, the Committee may from time to time, in its reasonable discretion,
modify the rules for determining the prior credit balance of a Participant's
Individual Account, provided that any such rules shall be applied in a uniform
and nondiscriminatory manner.

        4.5 Allocation of Forfeitures. The amount of a Participant's Profit
Sharing and Matching Contributions Accounts forfeited under the Plan shall,
subject to any restoration allocation required under Section 5.2, be allocated
under Sections 3.1 and 3.7 with the Employer's Profit Sharing and Matching
Contributions for the Plan Year in which the forfeiture occurs as if the
Participant's forfeiture was an additional Profit Sharing or Matching
Contribution for that Plan Year as the case may be. Such allocation shall be
made to the Matching Contributions and Profit Sharing Accounts of each
Participant who is eligible under Sections 3.1 and 3.7 to share in the
allocation of the Matching and Profit Sharing Contributions. The Committee shall
continue to hold the undistributed, non-vested portion of a terminated
Participant's Matching Contributions and Profit Sharing Accounts solely for his
benefit until a forfeiture occurs at the time specified in Section 5.6. Except
as provided in Section 5.6(b), a terminated Participant shall not be entitled to
share in the allocation of a forfeiture of any portion of his Matching or Profit
Sharing Account.

        4.6 Trustee and Committee Judgment Controls. In determining the fair
market value of the Fund and of Individual Accounts, the Trustee and the
Committee shall exercise their best judgment, and all such determinations of
value (in the absence of bad faith) shall be binding upon all Participants and
their Beneficiaries. All allocations shall be deemed to have been made as of the
Valuation Date, regardless of when actual allocations were undertaken.

        4.7     Maximum Allocations.  The allocations to the accounts
of any Participant in any Limitation Year shall be limited so
that the Participant's Annual Additions for such Limitation Year
do not exceed the Maximum Permissible Amount.

        4.8 Corrective Adjustments. In the event that corrective adjustments in
the Annual Additions to any Participant's Individual Account are required as the
result of the allocation of forfeitures, a reasonable error in estimating a
Participant's total annual Compensation or under other limited facts and
circumstances which the Commissioner of the Internal Revenue Service finds
justify the availability of the provisions of this Section 4.8, the following
corrective adjustments shall be made:

        (a)     The excess amounts in the Participant's Profit Sharing Account
                shall be reduced to insure compliance with Section 4.7 by
                reducing Profit Sharing Contributions for the next Limitation
                Year (and succeeding Limitation Years, as necessary) for that
                Participant if the Participant is covered by the Plan and
                entitled to an allocation hereunder in accordance with Section
                4.2.

        (b)     If the Participant is not entitled to share in the
                allocation of Profit Sharing Contributions as of the
                end of the Limitation Year, then the excess amount
                shall be held unallocated in a suspense account for the
                Limitation Year and allocated and reallocated in the
                next Limitation Year to all remaining Participants in
                the Plan who are entitled to an allocation of Profit
                Sharing Contributions.  The excess amount held in such
                suspense account shall be (i) allocated and reallocated
                (subject to the limits of this Article IV) before any
                Annual Additions may be made to the Plan for the
                Limitation Year and (ii) used to reduce Profit Sharing
                Contributions for that Limitation Year (and any
                succeeding Limitation Years, as necessary) for all
                remaining Participants entitled to receive an
                allocation of such Profit Sharing Contribution.  No
                excess amount or any portion thereof may be distributed
                to Participants, Inactive Participants or their
                Beneficiaries.

        (c)     As used in this Section 4.8, "excess amount" means the excess of
                a Participant's Annual Additions for a Limitation Year over the
                Maximum Permissible Amount.

        4.9     Limitations on Benefits of Participants Participating
                in More than One Plan.

        (a)     Notwithstanding the provisions of Section 4.6 and 4.7,
                the otherwise permissible Annual Additions for any
                Participant under this Plan shall be further reduced to
                the extent necessary, as determined by the Committee,
                to prevent disqualification of the Plan under Section
                415 of the Code, which imposes the following additional
                limitations on the benefits payable to Participants who
                also may be participating in another tax qualified
                pension, profit sharing, savings or stock bonus plan
                maintained by the Employer:

              (i)        If an individual is a Participant at any time in
                         both a Defined Benefit Plan and a Defined
                         Contribution Plan maintained by the Employer, the
                         sum of the Defined Benefit Plan fraction and the
                         Defined Contribution Plan fraction for any
                         Limitation Year may not exceed 1.0.  If the sum of
                         the Defined Benefit Plan fraction and the Defined
                         Contribution Plan fraction for any Limitation Year
                         exceeds 1.0, the numerator of the Defined
                         Contribution Plan fraction shall be reduced in
                         order that the sum of the Defined Contribution
                         Plan fraction and the Defined Benefit Plan
                         fraction do not exceed 1.0.

                         The Defined Benefit Plan fraction for any Limitation
                         Year is a fraction, the numerator of which is the
                         Participant's projected annual benefit under the Plan
                         (determined at the close of the Limitation Year) and
                         the denominator of which is the lesser of 1.25
                         multiplied by Ninety Thousand Dollars ($90,000), as
                         adjusted by the Adjustment Factor; or 1.4 multiplied by
                         one hundred percent (100%) of the Participant's average
                         monthly compensation, as defined in Treasury Regulation
                         Section 1.415-2(d)(1)(i), during the three (3)
                         consecutive years when the total compensation paid to
                         him was highest. The Defined Contribution Plan fraction
                         for any Limitation Year is a fraction, the numerator of
                         which is the sum of the Annual Additions to the
                         Participant's accounts in such Limitation Year and for
                         all prior Plan Years and the denominator of which is
                         the sum of the applicable maximum amounts of Annual
                         Additions which could have been made under Section
                         415(c) of the Code for such Plan Year and for all prior
                         years of such Participant's employment (assuming for
                         this purpose that said Section 415(c) had been in
                         effect during such prior years). The applicable maximum
                         amount for any Limitation Year shall be equal to the
                         lesser of 1.25 multiplied by the dollar limitation in
                         effect for such Limitation Year under Section
                         415(c)(1)(A) of the Code; or 1.4 multiplied by
                         twenty-five percent (25%) of the Participant's
                         Compensation for such Limitation Year.

             (ii)        If the Plan satisfied the applicable requirements
                         of Section 415 of the Code as in effect for all
                         Limitation Years beginning before January 1, 1989,
                         an amount shall be subtracted from the numerator
                         of the Defined Contribution Plan fraction (not
                         exceeding such numerator) as prescribed by the
                         Secretary of the Treasury so that the sum of the
                         Defined Benefit Plan fraction and the Defined
                         Contribution Plan fraction computed under Section
                         415(e)(1) of the Code does not exceed 1.0 for such
                         Limitation Year.

        (b)     For purposes of the limitation provided by this
                Section 4.9, all Defined Benefit Plans of the Employer,
                whether or not terminated, are to be treated as one
                Defined Benefit Plan and all Defined Contribution Plans
                of the Employer, whether or not terminated, are to be
                treated as one Defined Contribution Plan.  The extent
                to which Annual Additions under the Plan shall be
                reduced as compared with the extent to which the annual
                benefit under any Defined Benefit Plan shall be reduced
                in order to achieve compliance with the limitations of
                Section 415 of the Code shall be determined by the
                Committee in
                such a manner so as to maximize the aggregate benefits
                payable to such Participant.  If such reduction is
                under this Plan, the Committee shall advise affected
                Participants of any additional limitation on their
                annual benefits required by this Section 4.9.

        (c)     The above limitations are intended to comply with the
                provisions of Section 415 of the Code so that the
                maximum benefits provided by plans of the Employer
                shall be exactly equal to the maximum amounts allowed
                under Section 415 of the Code and regulations
                thereunder.  If there is any discrepancy between the
                provisions of this Section 4.9 and the provisions of
                Section 415 of the Code and Treasury Regulations
                thereunder, such discrepancy shall be resolved in such
                a way as to give full effect to the provisions of
                Section 415 of the Code.

        The provisions of this Section 4.9 shall be effective for Plan Years
commencing after December 31, 1986.

                                    ARTICLE V
                       TERMINATION OF SERVICE AND VESTING

        5.1     Vesting.

        (a)     Vesting on Termination of Service. Each Participant shall always
                be one hundred percent (100%) vested in the balance of his
                Rollover, Salary Redirection and Qualified Non-Elective
                Contributions Accounts.

                A Participant shall be one hundred percent (100%) vested in the
                balance of his Profit Sharing and Matching Contributions
                Accounts under the Plan as follows: (i) upon attaining Normal
                Retirement Age (age 65); (ii) upon the Committee's determination
                that the Participant is Totally and Permanently Disabled; and
                (iii) upon the death of the Participant while still employed.
                Should a Participant's Separation from Service occur under any
                circumstances other than those set forth in (i), (ii) or (iii),
                his vested interest in his Profit Sharing and Matching
                Contributions Accounts shall be determined based on his
                completed Years of Vesting Service as follows:

                   Years of                   Vested             Forfeited
                Vesting Service             Percentage          Percentage

                     0-5                          0%                100%
                  5 or more                     100%                  0%

        (b)     Breaks in Service.  In the case of a Participant who
                has five (5) or more consecutive one-year Breaks in
                Service, all Service after such Breaks in Service shall
                be disregarded for the purpose of vesting the portion
                of the Participant's Individual Account attributable to
                Profit Sharing and Matching Contributions that accrued
                before such Breaks in Service.  Such Participant's pre-
                break Service will count in vesting his post-break
                Individual Account balance only if either:

                       (i)        Such Participant has any nonforfeitable
                                  interest in his Individual Account
                                  attributable to Employer Contributions at the
                                  time of Separation from Service; or

                      (ii)        Upon returning to Service the number of
                                  consecutive one-year Breaks in Service is
                                  less than the number of Years of Vesting
                                  Service;

                Separate accounts will be maintained for the Participant's
                pre-break and post-break Individual Account balance. Both
                accounts will share in the Adjustments.

                Upon termination of Service of such a Participant, he shall be
                entitled to the vested interest in his Individual Account
                attributable to Profit Sharing and Matching Contributions based
                upon his completed years of Vesting Service. The nonvested
                portion, if any, shall be forfeited and reallocated to the
                appropriate Individual Accounts of all other Participants, as
                provided in Sections 5.2 through 5.6 below.

        5.2 Cash-Out Distributions to Partially-Vested Participants/Restoration
of Forfeited Accrued Benefits. If, pursuant to Article VI, a partially-vested
Participant receives a cash-out distribution before he incurs a forfeiture break
in service (as defined in Section 5.5), the cash-out distribution will result in
an immediate forfeiture of the nonvested portion of the Participant's Individual
Account. A partially vested Participant is a Participant whose nonforfeitable
percentage of his Individual Account determined under Section 5.1 (or Section
1.43, whichever is applicable) is less than one hundred percent (100%). A
cash-out distribution is a distribution of the entire present value of the
Participant's nonforfeitable Individual Account balance.

        (a)     Restoration and Conditions Upon Restoration.  A
                partially-vested Participant who is re-employed after
                receiving a cash-out distribution of the nonforfeitable
                percentage of his Individual Account
                balance may repay to the Trustee the amount of the
                cash-out distribution, unless the Participant no longer
                has a right to restoration under the requirements of
                this Section 5.2.  If a partially-vested Participant
                makes the cash-out distribution repayment, the
                Committee, subject to the conditions of this subsection
                (a), shall restore his Individual Account to the same
                dollar amount as the dollar amount of his Individual
                Account on the last day of the Plan Year, or other
                applicable Valuation Date, immediately preceding the
                date of the cash-out distribution, unadjusted for any
                Adjustments occurring subsequent to such last day of
                the Plan Year or other Valuation Date.  Restoration of
                the Participant's Individual Account shall include
                restoration of all Section 411(d)(6) protected benefits
                with respect to that Individual Account, in accordance
                with applicable Treasury Regulations.  The Committee
                shall not restore a re-employed Participant's
                Individual Account under this subsection (a) if:

              (i)        Five (5) years have elapsed since the
                         Participant's first re-employment date with the
                         Employer following the cash-out distribution; or

             (ii)        The Participant incurred a forfeiture break in
                         service (as defined in Section 5.5).  This
                         condition also applies if the Participant makes
                         repayment within the Plan Year in which he incurs
                         the forfeiture break in service and that
                         forfeiture break in service would result in a
                         complete forfeiture of the amount the Committee
                         otherwise would restore.

        (b)     Time and Method of Restoration.  If neither of the two
                conditions specified in subsection (a) preventing
                restoration of the Participant's Individual Account
                applies, the Committee will restore the Participant's
                Individual Account as of the last day of the Plan Year
                coincident with or immediately following the repayment.
                To restore the Participant's Individual Account, the
                Committee, to the extent necessary, shall allocate to
                the Participant's Individual Account:

              (i)        First, the amount, if any, of forfeitures the
                         Committee would otherwise allocate under
                         Section 4.5.

             (ii)        Second, the amount, if any, of the Adjustment for
                         the Plan Year; and

            (iii)        Third, the Employer's Profit Sharing Contribution for
                         the Plan Year, to the extent made under a discretionary
                         formula.

                         To the extent the amounts described in paragraphs (i),
                         (ii) and (iii) are insufficient to enable the Committee
                         to make the required restoration, the Employer shall
                         contribute without regard to any requirement or
                         condition of Article III, the additional amount
                         necessary to enable the Committee to make the required
                         restoration. If, for a particular Plan Year, the
                         Committee must restore the Individual Account of more
                         than one re-employed Participant, then the Committee
                         will make the restoration allocation(s) to each such
                         Participant's Individual Account in the same proportion
                         that a Participant's restored amount for the Plan Year
                         bears to the restored amount for the Plan Year of all
                         re-employed Participants. The Committee shall not take
                         into account the allocation under this Section 5.2 in
                         applying the limitation on allocations under Article
                         IV.

        (c)     Zero Percent (0%) Vested Participant.  The deemed cash-
                out rule applies to a zero percent (0%) vested
                Participant.  A zero percent (0%) vested Participant is
                a Participant whose Individual Account is entirely
                forfeitable at the time of his Separation from Service.
                Under the deemed cash-out rule, the Committee shall
                treat the zero percent (0%) vested Participant as
                having received a cash-out distribution on the date of
                the Participant's Separation from Service or, if the
                Participant's Individual Account is entitled to an
                allocation of Employer contributions for the Plan Year
                in which he incurs a Separation from Service, on the
                last day of that Plan Year.  For purposes of applying
                the restoration provisions of this Section 5.2, the
                Committee shall treat the zero percent (0%) vested
                Participant as repaying his cash-out "distribution" on
                the first date of his re-employment with the Employer.

        5.3 Segregated Account for Repaid Amount. Until the Committee restores
the Participant's Individual Account, as provided in Section 5.2, the Trustee
will invest the cash-out amount the Participant has repaid in a segregated
account maintained solely for that Participant. The Trustee shall invest the
amount in the Participant's segregated account in federally insured interest
bearing savings accounts(s) or time deposit(s) (or a combination of both), or in
other fixed income investments. Until commingled with the balance of the Fund on
the date the Committee restores the Participant's Individual Account, the
Participant's segregated account remains a part of the Fund, but it alone shares
in any income it earns and it alone bears any expense or loss it incurs. Unless
the repayment qualifies as a rollover contribution, the Committee will direct
the Trustee to repay to the Participant as soon as administratively practicable
the full amount of the Participant's segregated account if the Committee
determines either of the conditions of Section 5.2(a) prevent restoration as of
the applicable Valuation Date, notwithstanding the Participant's repayment.

        5.4 Year of Service - Vesting. Except as otherwise provided in Section
1.42, regarding a Participant's initial vesting computation period, for purposes
of vesting under Sections 1.43 and 5.1, a Year of Service means any Plan Year
during which an Employee completes not less than one thousand (1,000) Hours of
Service.

        5.5 Included Years of Service - Vesting. For the sole purpose of
determining a Participant's nonforfeitable percentage of his Individual Account
attributable to Employer Contributions which accrued for his benefit prior to a
forfeiture break in service, the Plan disregards any year of Service after the
Participant first incurs a forfeiture break in service. The Participant incurs a
forfeiture break in service when he incurs five (5) consecutive one-year Breaks
in Service.

        5.6 Forfeiture Occurs. A Participant's forfeiture, if any, of the
portion of his Individual Account attributable to Employer Contributions shall
occur under the Plan on the earlier of:

        (a)     The last day of the Plan Year in which the Participant
                first incurs a forfeiture break in service; or

        (b)     The date the Participant receives a cash-out
                distribution.

        5.7 Benefits to Minors and Incompetents.

        (a)     Minors. In case any person entitled to receive payment under the
                Plan shall be a minor, the Committee, in its discretion, may
                dispose of such amount in any one or more of the following ways:

              (i)        By payment thereof directly to such minor;

             (ii)        By application thereof for the benefit of such
                         minor; or

            (iii)        By payment thereof to either parent of such minor
                         or to any adult person with whom such minor may at
                         the time be living or to any person who shall be
                         legally qualified and shall be acting as guardian
                         of the person or the property of such minor;
                         provided only that the parent or adult
                         person to whom any amount shall be paid shall have
                         advised the Committee in writing that he will hold
                         or use such amount for the benefit of such minor.

        (b)     Incompetents.  In the event that it shall be found that
                a person entitled to receive payment under the Plan is
                physically or mentally incapable of personally
                receiving and giving a valid receipt for any payment
                due (unless prior claim therefor shall have been made
                by duly qualified committee or other legal
                representative), such payment may be made to the
                spouse, son, daughter, parent, brother, sister or other
                person deemed by the Committee to have incurred expense
                for such person otherwise entitled to payment.

                                   ARTICLE VI
                     TIME AND METHOD OF PAYMENT OF BENEFITS

        6.1 Time of Payment of Benefits. The Committee shall direct the Trustee
to commence distribution of the nonforfeitable portion of the Participant's
Individual Account in accordance with this Section 6.1. A Participant must
consent, in writing, to any distribution required under this Section 6.1 if the
present value of the nonforfeitable portion of the Participant's Individual
Account, at the time of the distribution to the Participant, exceeds Three
Thousand Five Hundred Dollars ($3,500) and the Participant has not attained his
Normal Retirement Age. A distribution date under this Article VI, unless
otherwise specified under the Plan, is on or as soon as administratively
practicable following the date on which an amount is distributable hereunder.
Notwithstanding the foregoing, a Participant with a distributable benefit in
excess of $3,500 may elect to accelerate or defer the payment of his benefits in
accordance with nondiscriminatory rules and procedures established by the
Committee. The election under the preceding sentence to accelerate payment must
be made at least 30 days after (but no more than 90 days after) the Participant
receives a benefit distribution notice and election form from the Committee. The
30-day election period may be waived by the Participant (so that benefit
payments may be made or commenced immediately following receipt of the notice
and election form) if the Committee clearly informs the Participant that he has
at least 30 days to consider the timing and form of his benefit payment. For
purposes of the consent requirements under this Article VI, if the present value
of the nonforfeitable portion of the Participant's Individual Account, at the
time of any distribution, exceeds Three Thousand Five Hundred Dollars ($3,500),
the Committee shall treat that present value as exceeding Three Thousand Five
Hundred Dollars ($3,500) for purposes of all subsequent distributions to the
Participant. If a distribution is one to which Sections 401(a)(11) and 417 of
the Internal Revenue Code do not apply, such distribution may commence less than
thirty (30) days after the notice required under Section 1.411(a)(11)(c) of the
Income Tax Regulations is given, provided that:

              (i)        The Committee clearly informs the Participant that the
                         Participant has a right to a period of at least thirty
                         (30) days after receiving the notice to consider the
                         decision of whether or not to elect a distribution
                         (and, if applicable, a particular distribution option);
                         and

             (ii)        The Participant, after receiving the notice,
                         affirmatively elects a distribution.

        (a)     Termination of Employment For a Reason Other Than
                Death, Permanent and Total Disability or Retirement.
                In the case of a Participant who terminates employment
                with the Employer for a reason other than death, Total
                and Permanent Disability or retirement on or after
                attaining his Normal Retirement Age, the Committee
                shall direct the Trustee to commence distribution of
                the Participant's Individual Account as follows:

              (i)        Participant's Nonforfeitable Individual Account
                         Does Not Exceed $3,500.  In a single sum, as soon
                         as administratively practicable following the
                         Participant's Separation from Service.

             (ii)        Participant's Nonforfeitable Individual Account
                         Exceeds $3,500.  In a single sum, at either of the
                         following times elected by the Participant:  (i)
                         as soon as administratively practicable following
                         the Participant's Separation from Service or (ii)
                         as soon as administratively practicable following
                         the end of the Plan Year in which the
                         Participant's Separation from Service occurs.

        (b)     Total and Permanent Disability or Retirement.  In the
                case of a Participant who terminates employment with
                the Employer due to Total and Permanent Disability or
                retirement upon or after attaining his Normal
                Retirement Age, the Committee shall direct the Trustee
                to commence distribution of the Participant's
                Individual Account in a single sum, as soon as
                administratively practicable following the close of the
                Plan Year in which the Participant's Separation from
                Service occurs.

        (c)     Required Beginning Date.  If any distribution date
                described under subsection (a) or (b), either by Plan
                provision or by Participant election (or nonelection),
                is later than the Participant's required beginning date
                (as defined below), the Committee instead shall direct
                the Trustee to make distribution under this Section 6.1
                on the Participant's required beginning date.  A
                Participant's required beginning date is the April 1
                following the close of the calendar year in which the
                Participant attains age seventy and one-half (70-1/2).

                However, if the Participant, prior to incurring a Separation
                from Service, attained age seventy and one-half (70-1/2) by
                January 1, 1988, and for the five (5) Plan Year period ending in
                the calendar year in which he attained age seventy and one-half
                (70-1/2) and for all subsequent years, the Participant was not a
                more than five percent (5%) owner, the required beginning date
                shall be the April 1 following the close of the calendar year in
                which the Participant incurs a Separation from Service or, if
                earlier, the April 1 following the close of the calendar year in
                which the Participant becomes a more than five percent (5%)
                owner. Furthermore, if a Participant attains age seventy and
                one-half (70-1/2) during 1988, the Participant does not incur a
                Separation from Service prior to January 1, 1989, and for the
                five (5) Plan Year period ending in 1988, the Participant was
                not a more than five percent (5%) owner, his required beginning
                date is April 1, 1990. A mandatory distribution at the
                Participant's required beginning date will be in a single sum.

        (d)     Death of the Participant.  The amount of the death
                benefit under this Plan shall be the full balance in
                the Participant's Individual Account at the time of the
                Participant's death.  The Committee shall direct the
                Trustee to pay the deceased Participant's Individual
                Account at the time elected by his designated
                Beneficiary.  In the absence of an election, the
                Committee shall direct the Trustee to distribute the
                Participant's undistributed Individual Account in a
                single sum on the first distribution date following the
                close of the Plan Year in which the Participant's death
                occurs or, if later, the first distribution date
                following the date the Committee receives notification
                of or otherwise confirms the Participant's death.

        If all or any portion of the Participant's Individual Account is payable
to his surviving spouse, the surviving spouse may elect to receive distribution
at any time this Article VI would permit a Participant to receive a
distribution.

        6.2 Method of Payment.  A Participant, Inactive Participant
or Beneficiary will receive all distributions by payment in a
single sum.

        (a)     Minimum Distribution Requirements for Participants.
                The Committee shall not direct the Trustee to
                distribute the Participant's nonforfeitable Individual
                Account, nor may the Participant elect to have the
                Trustee distribute his Individual Account, under a
                method of payment which, as of the required beginning
                date, does not satisfy the minimum distribution
                requirements under Section 401(a)(9) of the Code and
                the Treasury Regulations promulgated thereunder.  The
                minimum distribution for a calendar year equals the
                nonforfeitable portion of the Participant's Individual
                Account as of the latest Valuation Date preceding the
                beginning of the calendar year divided by the
                Participant's life expectancy or, if applicable, the
                joint and last survivor expectancy of the Participant
                and his designated Beneficiary (as determined under
                Article VII, subject to the requirements of the
                Treasury Regulations promulgated under Section
                401(a)(9) of the Code).  In computing a minimum
                distribution, the Committee shall use the unisex life
                expectancy multiples under Section 1.72-9 of the
                Treasury Regulations.  The Committee, only upon the
                Participant's written request, may compute the minimum
                distribution for a calendar year subsequent to the
                first calendar year for which the Plan requires a
                minimum distribution by redetermining the applicable
                life expectancy.  However, the Committee may not
                redetermine the joint life and last survivor expectancy
                of the Participant and a nonspouse designated
                Beneficiary in a manner which takes into account any
                Adjustment to a life expectancy other than the
                Participant's life expectancy.

              (i)        Method of Payment Where Beneficiary is Not
                         Participant's Spouse.  If the Participant's spouse
                         is not his designated Beneficiary, a method of
                         payment to the Participant (whether by Participant
                         election or by Committee direction) may not
                         provide more than incidental benefits to the
                         Beneficiary.  For Plan Years beginning after
                         December 31, 1988, the Plan must satisfy the
                         minimum distribution incidental benefit ("MDIB")
                         requirement in the Treasury Regulations
                         promulgated under Section 401(a)(9) of the Code
                         for distributions made on or after the
                         Participant's required beginning date and before
                         the Participant's death.  To satisfy the MDIB
                         requirement, the Committee shall compute the
                         minimum distribution required by this subsection
                         (a) by substituting the applicable MDIB divisor
                         for the applicable life expectancy factor, if the
                         MDIB divisor is a lesser number.  Following the
                         Participant's death, the Committee shall compute
                         the minimum distribution required by this
                         Section 6.2(a) solely on the basis of the
                         applicable life expectancy factor and will
                         disregard the MDIB factor.  For Plan Years
                         beginning prior to January 1, 1989, the Plan
                         satisfies the incidental benefits requirement if
                         the distributions to the Participant satisfied the
                         MDIB requirement or if the present value of the
                         retirement benefits payable solely to the
                         Participant is greater than fifty percent (50%) of
                         the present value of the total benefits payable to
                         the Participant and his designated Beneficiary.
                         The Committee shall determine whether benefits
                         distributed to the Beneficiary are incidental as
                         of the date the Trustee is to commence payment of
                         the retirement benefits to the Participant, or as
                         of any date the Trustee redetermines the payment
                         period to the Participant.

             (ii)        Commencement of Distributions.  The minimum
                         distribution for the first distribution calendar
                         year is due by the Participant's required
                         beginning date.  The minimum distribution for each
                         subsequent distribution calendar year, including
                         the calendar year in which the Participant's
                         required beginning date falls, is due by December
                         31 of that year.

        (b)     Minimum Distribution Requirements for Beneficiaries.
                The method of distribution to a Participant's
                Beneficiary shall satisfy Section 401(a)(9) of the Code
                and the Treasury Regulations promulgated thereunder.
                If the Participant's death occurs after his required
                beginning date, the method of payment to the
                Beneficiary must provide for completion of
                distributions over a period which does not exceed the
                payment period which had commenced for the Participant.
                If the Participant's death occurs prior to his required
                beginning date, the method of payment to the
                Beneficiary must provide for completion of payment to
                the Beneficiary over a period not exceeding (i) five
                (5) years after the date of the Participant's death or
                (ii) if the Beneficiary is a designated Beneficiary,
                the designated Beneficiary's life expectancy.  The
                Committee may not direct payment of the Participant's
                Individual Account over a period described in paragraph
                (ii) unless the Trustee will commence payment to the
                designated Beneficiary no
                later than December 31 following the close of the
                calendar year in which the Participant's death occurred
                or, if later, and the designated Beneficiary is the
                Participant's surviving spouse, December 31 of the
                calendar year in which the Participant would have
                attained age seventy and one-half (70-1/2).  If the
                Trustee will make distribution in accordance with
                paragraph (ii), the minimum distribution for a calendar
                year equals the Participant's Individual Account as of
                the latest Valuation Date preceding the beginning of
                the calendar year divided by the designated
                Beneficiary's life expectancy.  The Committee shall use
                the unisex life expectancy multiples under Section
                1.72-9 of the Treasury Regulations for purposes of
                applying this paragraph.  The Committee, only upon the
                written request of the Participant or of the
                Participant's surviving spouse, may recalculate the
                life expectancy of the Participant's surviving spouse
                not more frequently than annually, but may not
                recalculate this life expectancy of a nonspouse
                designated Beneficiary after the Trustee commences
                payment to the designated Beneficiary.  The Committee
                shall apply this subsection (b) by treating any amount
                paid to the Participant's child, which becomes payable
                to the Participant's surviving spouse upon the child's
                attaining the age of majority, as paid to the
                Participant's surviving spouse.  Upon the Beneficiary's
                written request, the Committee must direct the Trustee
                to accelerate payment of all, or any portion, of the
                Participant's Individual Account, as soon as
                administratively practicable following the effective
                date of that request.

        6.3 Distributions Under Qualified Domestic Relations Orders. Nothing
contained in this Plan shall prevent the Trustee, in accordance with the
direction of the Committee, from complying with the provisions of a qualified
domestic relations order (as defined in Section 414(p) of the Code). This Plan
specifically permits distribution to an alternate payee under a qualified
domestic relations order at any time, irrespective of whether the Participant
has attained his earliest retirement age (as defined under Section 414(p) of the
Code) under the Plan. A distribution to an alternate payee prior to the
Participant's attainment of his earliest retirement age is available only if:
(a) the order specifies distribution at that time or permits an agreement
between the Plan and the alternate payee to authorize an earlier distribution
and (b) if the present value of the alternate payee's benefits under the Plan
exceeds Three Thousand Five Hundred Dollars ($3,500), and if the order requires,
the alternate payee consents to any distribution which occurs prior to the
Participant's attainment of his earliest retirement age. Nothing in this Section
6.3 shall permit a Participant to receive a distribution at a time not otherwise
permitted under the Plan nor does it permit the alternate payee to receive a
form of payment not permitted under the Plan.

        6.4 Annuity Distributions to Participants and Surviving Spouses. The
joint and survivor annuity requirements of Sections 401(a)(11) and 417 of the
Code do not apply to this Plan. The Plan does not provide any annuity
distributions to Participants or surviving spouses. A transfer agreement may not
permit a plan which is subject to the provisions of Sections 401(a)(11) and 417
to transfer assets to this Plan, unless the transfer is an elective transfer and
meets all applicable requirements of the Treasury Regulations promulgated under
Section 411(d)(6) of the Code.

        6.5 Valuation of Individual Accounts. Valuation of the Participant's
Individual Account for purposes of determining the amount to be distributed
shall be made as follows:

        (a)     Termination of Employment for a Reason Other Than
                Death, Total and Permanent Disability or Retirement.
                In the case of a Participant who terminates employment
                with the Employer for a reason other than death, Total
                and Permanent Disability or retirement upon or after
                attaining his Normal Retirement Age, the Participant's
                Individual Account shall be valued as of the Valuation
                Date coinciding with or immediately preceding the
                Participant's termination of employment, plus the
                principal amount of any Salary Redirection
                Contributions made by the Participant from such
                Valuation Date to the date of the Participant's
                termination of employment.  If the Participant properly
                elects, in accordance with the provisions of Section
                6.1(a), to receive a distribution after the end of the
                Plan Year in which his Separation from Service occurs,
                his Individual Account shall include the allocation of
                any Adjustments, in the manner prescribed in Section
                4.4, attributable to the Participant's Individual
                Account for the Plan Year in which such Separation from
                Service occurs.  If the Participant elects to receive a
                distribution before the end of the Plan Year in which
                his Separation from Service occurs, his Individual
                Account shall not include any Adjustments with respect
                to the Plan Year in which such Separation from Service
                occurs.

        (b)     Termination of Employment Due to Death, Total and
                Permanent Disability or Retirement.  In the case of a
                Participant who terminates employment with the Employer
                due to death, Total and Permanent Disability or
                retirement upon or after attaining his Normal
                Retirement Age, the Participant's Individual Account
                shall be valued as of the Valuation Date coinciding
                with or immediately following the Participant's
                termination of employment, and such Individual Account
                shall be entitled to share in the allocation of
                contributions and Adjustments, as provided under
                Articles III and IV.

        6.6 Minimum Required Distributions. Notwithstanding any provision of
this Plan to the contrary, unless a Participant otherwise elects, the payment of
benefits under the Plan to the Participant shall not commence later than the
sixtieth (60th) day after the latest of the close of the Plan Year in which (i)
the Participant attains Normal Retirement Age, (ii) the tenth (10th) anniversary
of the year in which the Participant commenced participation under the Plan, or
(iii) the Participant terminates service with the Employer.

        6.7 Direct Rollovers.

                (a)      This Section 6.7 applies to distributions made on
                         or after January 1, 1993.  Notwithstanding any
                         provision of the Plan to the contrary that would
                         otherwise limit a distributee's election under
                         this Section 6.7, a distributee may elect, at the
                         time and in the manner prescribed by the Plan, to
                         have any portion of an eligible rollover
                         distribution paid directly to an eligible
                         retirement plan specified by the distributee in a
                         direct rollover.

                (b)      Definitions.

                       (i)        Eligible rollover distribution.  An eligible
                                  rollover distribution is any distribution of
                                  all or any portion of the balance to the
                                  credit of the distributee, except that an
                                  eligible rollover distribution does not
                                  include:  any distribution that is one of a
                                  series of substantially equal periodic
                                  payments (not less frequently than annually)
                                  made for the life (or life expectancy) of the
                                  distributee or the joint lives (or joint life
                                  expectancies) of the distributee and the
                                  distributee's designated beneficiary, or for
                                  a specified period of ten years or more; any
                                  distribution to the extent such distribution
                                  is required under Section 401(a)(9) of the
                                  Code; and the portion of any distribution
                                  that is not includible in gross income
                                  (determined without regard to the exclusion
                                  for net unrealized appreciation with respect
                                  to employer securities).

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

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

                      (iv)        Direct Rollover.  A direct rollover is a
                                  payment by the Plan to the eligible
                                  retirement plan specified by the distributee.

                                   ARTICLE VII
                                     FUNDING

        7.1 Contributions. Contributions by the Employer and by the Participants
as provided for in Article III shall be paid directly over to the Trustee. All
contributions by the Employer shall be irrevocable, except as otherwise provided
in this Plan, and may be used only for the exclusive benefit of Participants,
Inactive Participants and their Beneficiaries.

        7.2 Trustee.

        (a)     In General. The Employer has entered into an agreement with the
                Trustee whereunder the Trustee will receive, invest and
                administer as a trust fund, contributions made under this Plan
                in accordance with the Trust Agreement.

        (b)     Trust Agreement.  Such Trust Agreement is attached
                hereto and incorporated by reference as a part of the
                Plan, and the rights of all persons hereunder are
                subject to the terms of the Trust Agreement.  The
                Trust Agreement specifically provides, among other
                things, for the investment and reinvestment of the Fund
                and the income thereof, the management of the Fund, the
                responsibilities and immunities of the Trustee, removal
                of the Trustee and appointment of a successor,
                accounting by the Trustee and the disbursement of the
                Fund.

        7.3 Funding Policy. The funding policy for the Plan shall be determined
by the Employer from time to time as required by ERISA. The Employer shall also
establish investment guidelines for the Plan which are consistent with the
objectives of the Plan and the requirements of ERISA. At least annually the
Employer shall review such investment guidelines. The Employer shall make a
written record of all actions taken with respect to establishing and reviewing
such investment guidelines. The Committee shall from time to time determine the
cash requirements of the Plan and communicate the same to the Trustee or
investment manager. The Trustee or investment manager shall make investments
consistent with the investment guidelines and the cash requirements of the Plan,
as advised by the Committee.

                                  ARTICLE VIII
                               PLAN ADMINISTRATION

        8.1     Fiduciaries.

        (a)     Each Fiduciary who is allocated specific duties or
                responsibilities under the Plan or any Fiduciary who
                assumes such a position with the Plan shall discharge
                his duties solely in the interest of the Participants,
                Inactive Participants and Beneficiaries and for the
                exclusive purpose of providing such benefits as
                stipulated herein to such Participants, Inactive
                Participants and Beneficiaries, or defraying reasonable
                expenses of administering the Plan.  Each Fiduciary, in
                carrying out such duties and responsibilities, shall
                act with the care, skill, prudence, and diligence under
                the circumstances then prevailing that a prudent man
                acting in a like capacity and familiar with such
                matters would use in exercising such authority or
                duties.

        (b)     A Fiduciary may serve in more than one Fiduciary capacity and
                may employ one or more persons to render advice with regard to
                his Fiduciary responsibilities. If the Fiduciary is serving as
                such without compensation, all expenses reasonably incurred by
                such Fiduciary shall be reimbursed by the Employer or, at the
                Committee's direction, from the Trustee.

        (c)     A Fiduciary may allocate any of his responsibilities
                for the operation and administration of the Plan.  In
                limitation of this right, a Fiduciary may not allocate
                any responsibilities as contained herein relating to
                the management or control of the Fund except through
                the employment of an investment manager as provided in
                Section 8.3 and in the Trust Agreement relating to the
                Fund.

        8.2     Employer.

        (a)     The Employer, in establishing and maintaining the Plan
                for the benefit of its Employees and the Employees of
                any Affiliated Employer, of necessity retains control
                of the operation and administration of the Plan.  The
                Employer, in accordance with specific provisions of the
                Plan, has, as herein indicated, delegated certain of
                these rights and obligations to the Trustee and the
                Committee and these parties shall be solely responsible
                for these, and only these, delegated rights and
                obligations.

        (b)     The Employer shall supply such full and timely information for
                all matters relating to the Plan as (i) the Committee, (ii) the
                Trustee, and (iii) the attorneys and accountants engaged on
                behalf of the Plan by the Employer may require for the effective
                discharge of their respective duties.

        8.3 Trustee. The Employer shall appoint a bank or trust company or an
individual or individuals to act as Trustee or Trustees under the Trust
Agreement. The Trustee shall serve at the pleasure of the Employer and its
powers and responsibilities shall be set forth in a Trust Agreement entered into
between the Employer and the Trustee. No person who receives full-time pay from
the Employer shall receive compensation paid by the Fund except for
reimbursement of expenses properly incurred. All contributions made pursuant to
the Plan shall be held by the Trustee in accordance with the terms of the Trust
Agreement and Section 3.10 of the Plan for the exclusive benefit of those
Employees who are Participants, Inactive Participants and their Beneficiaries,
and shall be applied to provide benefits under the Plan and to pay expenses
properly attributable to the administration of the Plan and the Trust, to the
extent that such expenses are not otherwise paid. The Employer may appoint an
investment manager or managers to manage any assets of the Plan. Likewise, with
the written consent of the Employer, the Trustee may appoint an investment
manager. In either such event, the responsibility for investment decisions shall
be clearly allocated in writing between the investment manager and the Trustee
and neither shall be responsible for the action or inaction of the other.

        8.4     Benefits Committee.

        (a)     The Employer shall appoint a committee of not less than
                three (3) persons to hold office at the pleasure of the
                Employer, such committee to be known as the Benefits
                Committee ("Committee").  No compensation shall be paid
                to members of the Committee from the Fund for service
                on such Committee.  The Committee shall choose from
                among its members a chairman and a secretary.  Any
                action of the Committee shall be determined by the vote
                of a majority of its members.  Either the chairman or
                the secretary may execute any certificate or written
                direction on behalf of the Committee.  If the Employer
                shall fail to appoint the Committee, then the Employer
                shall constitute the plan administrator of the Plan and
                all references to the Committee under the Plan shall be
                deemed for all purposes to refer to the Employer.

        (b)     The Committee shall hold meetings upon such notice, at such
                place or places and at such time or times as the Committee may
                from time to time determine. A majority of the members of the
                Committee at the time in office shall constitute a quorum for
                the transaction of business.

        (c)     All disbursements by the Trustee, except for the
                expenses properly attributable to the administration of
                the Plan or Trust or the reimbursement of reasonable
                expenses at the direction of the Employer, as provided
                herein, shall be made upon, and in accordance with, the
                written directions of the Committee.  When the
                Committee is required in the performance of its duties
                hereunder to administer or construe, or to reach a
                determination, under any of the provisions of the Plan,
                it shall do so on a uniform, equitable and
                nondiscriminatory basis.

        (d)     The Committee shall establish rules and procedures to
                be followed by the Participants, Inactive Participants
                and Beneficiaries in filing applications for benefits
                and for furnishing and verifying proofs necessary to
                establish age and any other matters required in order
                to establish their rights to benefits in accordance
                with the Plan.  Additionally, the Committee shall
                establish accounting procedures for the purpose of
                making the allocations, valuations and Adjustments to
                Participants' accounts.  Should the Committee determine
                that the strict application of its accounting
                procedures will not result in an equitable and
                nondiscriminatory allocation among the accounts of
                Participants, it may modify its procedures for the
                purpose of achieving an equitable and
                nondiscriminatory allocation in accordance with the
                general concepts of the Plan; provided, however, that
                such Adjustments to achieve equity shall not reduce the
                vested portion of a Participant's Individual Account.

        (e)     The Committee may employ such counsel, accountants, and other
                agents as it shall deem advisable. The Employer shall pay, or
                cause to be paid from the Fund, the reasonable compensation of
                such counsel, accountants, and other agents and any other
                reasonable expenses incurred by the Committee in the
                administration of the Plan and Trust.

        (f)     All members of the Committee shall serve until their resignation
                or dismissal by the Board and vacancies shall be filled in the
                same manner as the original appointments. The Board may dismiss
                any member of the Committee with or without cause.

        8.5     Claims Procedures.

        (a)     The Committee shall receive all applications for
                benefits.  Upon receipt by the Committee of such an
                application, it shall determine all facts which are
                necessary to establish the right of an application to
                benefits under the provisions of the Plan and the
                amount thereof as herein provided.  Upon request, the
                Committee shall afford the applicant the right of a
                hearing with respect to any finding of fact or
                determination.  The applicant shall be notified in
                writing of any adverse decision with respect to his
                claim within sixty (60) days after its submission.  The
                notice shall be written in a manner calculated to be
                understood by the applicant and shall include:

              (i)        The specific reason or reasons for the denial;

             (ii)        Specific references to the pertinent Plan
                         provisions on which the denial is based;

            (iii)        A description of any additional material or
                         information necessary for the applicant to perfect
                         the claim and an explanation why such material or
                         information is necessary; and

             (iv)        An explanation of the Plan's claim review
                         procedures.

        (b)     If special circumstances require an extension of time for
                processing the initial claim, a written notice of the extension
                and the reason therefor shall be furnished to the claimant
                before the end of the initial sixty (60) day period. In no event
                shall such extension exceed sixty (60) days.

        (c)     In the event a claim for benefits is denied or if the
                applicant has had no response to such claim within
                sixty (60) days of its submission (in which case the
                claim for benefits shall be deemed to have been
                denied), the applicant or his duly authorized
                representative, at the applicant's sole expense, may
                appeal the denial to the Committee within sixty (60)
                days of the receipt of written notice of denial or
                sixty (60) days from the date such claim is deemed to
                be denied.  In pursuing such appeal the applicant or
                his duly authorized representative:

              (i)        May request in writing that the Committee review
                         the denial;

             (ii)        May review pertinent documents; and

            (iii)        May submit issues and comments in writing.

        (d)     The decision on review shall be made within sixty (60)
                days of receipt of the request for review, unless
                special circumstances require an extension of time for
                processing, in which case a decision shall be rendered
                as soon as possible, but not later than one hundred
                twenty (120) days after receipt of request for review.
                If such an extension of time is required, written
                notice of the extension shall be furnished to the
                claimant before the end of the original sixty (60) day
                period.  The decision on review shall be made in
                writing, shall be written in a manner calculated to be
                understood by the claimant, and shall include specific
                references to the provisions of the Plan on which such
                denial is based.  If the decision on review is not
                furnished within the time specified above, the claims
                shall be deemed denied on review.

        8.6 Records. All acts and determinations of the Committee shall be duly
recorded by the secretary thereof and all such records together with such other
documents as may be necessary in exercising its duties under the Plan shall be
reserved in the custody of such secretary. Such records and documents shall at
all times be open for inspection and for the purpose of making copies by any
person designated by the Employer. The Committee shall provide such timely
information, resulting from the application of its responsibilities under the
Plan, as needed by the Trustee and the accountant engaged on behalf of the Plan
by the Employer, for the effective discharge of their respective duties.

        8.7 Disclosures to Participants.

        (a)     Each Participant shall be furnished with the summary plan
                description of the Plan, as required by Sections 102(a)(1) and
                104(b)(1) of ERISA. Such summary plan description shall be
                updated from time to time as required under ERISA and Department
                of Labor regulations.

        (b)     Within nine (9) months after each December 31 Valuation Date,
                each Participant shall be furnished with the summary annual
                report of the Plan required by Section 104(b)(3) of ERISA, in
                the form prescribed in Department of Labor regulations.

        (c)     Following each December 31 Valuation Date each Participant shall
                be furnished with a statement reflecting the following
                information:

              (i)        The total balance (if any) in his Individual
                         Account as of the beginning of the Plan Year.

             (ii)        The aggregate amounts of all contributions to the
                         Individual Account and net income (or loss) allocated
                         to his Individual Account for the Plan Year.

            (iii)        The amount of contributions, if any, to his Profit
                         Sharing, Salary Redirection, Matching, Qualified
                         Non-Elective Contribution and Rollover Accounts for the
                         Plan Year and the new balance in each such account as
                         of that Valuation Date.

             (iv)        The new balance in his Individual Account as of
                         that Valuation Date.

        (d)     The Committee shall make available for examination by
                any Participant, copies of the Plan, the Trust
                Agreement and the latest annual report of the Plan
                filed (on Form 5500) with the Internal Revenue Service.
                Upon written request of any Participant, the Committee
                shall furnish copies of such documents, and may make a
                reasonable charge to cover the cost of furnishing such
                copies, as provided in Department of Labor regulations.

        8.8 No Liability. The Employer assumes no obligation or responsibility
to any of its Employees, Participants, Inactive Participants, or Beneficiaries
for any act of, or failure to act, on the part of the Committee (unless the
Employer is the Committee) or the Trustee.

        8.9 Indemnity of Committee Members. The Employer shall indemnify and
save harmless the members of the Committee, and each of them, from and against
any and all loss resulting from liability to which the Committee, or the members
of the Committee, may be subjected by reason of any act or conduct (except
willful misconduct or gross negligence) in their official capacities in the
administration of the Plan, including all expenses reasonably incurred in their
defense, in case the Employer fails to provide such defense. The indemnification
provisions of this Section 8.9 do not relieve any Committee member from any
liability he may have under ERISA for breach of fiduciary duty. Furthermore, the
Committee members and the Employer may execute a letter agreement further
delineating the indemnification agreement of this Section 8.9, provided the
letter agreement must be consistent with and does not violate ERISA. The
indemnification provisions of this Section 8.9 shall extend to the Trustee
solely to the extent provided by a letter agreement executed by the Trustee and
the Employer.

        8.10 Employer Direction of Investment. The Employer has the right to
direct the Trustee with respect to the investment and reinvestment of assets
comprising the Trust Fund only if the Trustee consents in writing to permit such
direction. If the Trustee consents to Employer direction of investment, the
Trustee and the Employer must execute a letter agreement which contains such
conditions, limitations and other provisions they deem appropriate before the
Trustee shall be obligated to follow any Employer direction with respect to the
investment or reinvestment of any part of the Fund.

        8.11 Amendment to Vesting Schedule. Though the Employer reserves the
right to amend the vesting schedules contained in Sections 1.43 and 5.1 at any
time, the Committee shall not apply the amended vesting schedule to reduce the
nonforfeitable percentage of any Participant's Individual Account derived from
Employer contributions (determined as of the later of the date the Employer
adopts the amendment, or the date the amendment becomes effective) to a
percentage less than the nonforfeitable percentage computed under the Plan
without regard to the amendment. If the Employer makes a permissible amendment
to the vesting schedule, each Participant having at least three (3) Years of
Vesting Service with the Employer may elect to have the percentage of his
nonforfeitable Individual Account computed under the Plan without regard to the
amendment. For Plan Years beginning prior to January 1, 1989, the election
described in the preceding sentence applies only to Participants having at least
five (5) Years Of Vesting Service with the Employer.

        The Participant must file his election with the Committee within sixty
(60) days of the latest of (a) the Employer's adoption of the amendment; (b) the
effective date of the amendment; or (c) his receipt of a copy of the amendment.
The Committee, as soon as practicable, must forward a true copy of any amendment
to the vesting schedule to each affected Participant, together with an
explanation of the effect of the amendment, the appropriate form upon which the
Participant may make an election to remain under the vesting schedule provided
under the Plan prior to the amendment and notice of the time within which the
Participant must make an election to remain under the prior vesting schedule.
For purposes of this Section 8.11, an amendment to the vesting schedule includes
any Plan amendment which directly or indirectly affects the computation of the
nonforfeitable percentage of an Employee's rights to the portion of his
Individual Account attributable to Employer contributions.

        8.12 Discretionary Powers and Authority of the Employer and Committee.
The Employer and the Committee shall have any and all power and authority
(including discretion with respect to the exercise of that power and authority)
which shall be necessary, properly advisable, desirable or convenient to enable
them to carry out their responsibilities under the Plan and Trust. By way of
illustration and not limitation, the Employer and Committee are empowered and
authorized to (a) make rules and regulations with respect to the Plan and Trust
which are not inconsistent with the provisions of the Plan and Trust, the Code
or ERISA; (b) determine, consistently therewith, all questions that may arise
concerning coverage, eligibility, benefits, status and rights of any person
claiming particular status under the Plan, including without limitation
Participants, Inactive Participants, former Participants, Beneficiaries and the
spouses and beneficiaries thereof; and (c) subject to and consistent with the
Code and ERISA, to construe and interpret the Plan and correct any defect,
supply any omissions or reconcile any inconsistencies in the Plan. Subject to
the provisions of Section 8.5, such action shall be final, conclusive and
binding upon all persons, whether or not claiming benefits under the Plan.

                                   ARTICLE IX
                      AMENDMENT AND TERMINATION OF THE PLAN

        9.1     Amendment of the Plan.

        (a)     Employer's Right to Amend.  The Employer shall have the
                right at any time by action of the Board to modify,
                alter or amend the Plan in whole or in part; provided,
                however, that the duties, powers and liabilities of the
                Trustee hereunder shall not be increased without its
                written consent; and provided, further, that the amount
                of benefits which, at the time of any such
                modification, alteration or amendment, shall appear as
                a credit in the Individual
                Account of any Participant, Inactive Participant or
                Beneficiary hereunder shall not be adversely affected
                or reduced thereby; and provided, further, that no such
                amendment shall have the effect of revesting in the
                Employer any part of the principal or income of the
                Fund.

        (b)     Section 411(d)(6) Protected Benefits.  No amendment to
                the Plan (including the adoption of this Plan as a
                restatement of an existing plan) may decrease a
                Participant's Individual Account balance except to the
                extent permitted under Section 412(c)(8) of the Code,
                and may not reduce or eliminate Section 411(d)(6)
                protected benefits determined immediately prior to the
                adoption date (or, if later, the effective date) of the
                amendment.  An amendment reduces or eliminates Section
                411(d)(6) protected benefits if the amendment has the
                effect of either (i) eliminating or reducing an early
                retirement benefit or a retirement-type subsidy (as
                defined in Treasury Regulations), or (ii) except as
                provided by Treasury Regulations, eliminating an
                optional form of benefit.  The Committee shall
                disregard an amendment to the extent application of the
                amendment would fail to satisfy this subsection (b).
                If the Committee must disregard an amendment because
                the amendment would violate either (i) or (ii) above,
                the Committee shall maintain a schedule of the early
                retirement option or other optional forms of benefits
                the Plan must continue for the affected Participants.

        9.2     Termination of the Plan.

        (a)     The Employer expects to continue the Plan indefinitely,
                but continuance is not assumed as a contractual
                obligation.  The Employer reserves the right at any
                time by action of its Board to terminate the Plan by
                resolution of the Board or to reduce or cease
                contributions at any time if it determines that
                business, financial or other good cause make it
                necessary or desirable to do so.  Upon termination,
                partial termination or permanent discontinuance of
                contributions to the Plan, the Board shall give written
                notice of termination, partial termination or permanent
                discontinuance to the Trustee and participating
                Affiliated Employers.  Upon termination or partial
                termination of the Plan or complete discontinuance of
                contributions under the Plan, the rights of all
                affected Employees to the amounts credited to their
                Individual Accounts shall be nonforfeitable.

        (b)     In the event of termination of the Plan, or the sale,
                to an entity that is not an Affiliated Employer, of
                substantially all of the assets used by the Employer in
                the trade or business in which the Participant is
                employed, the Committee shall value the Fund as of the
                date of such termination or sale of assets.  The
                Individual Accounts of the Participants, Inactive
                Participants and Beneficiaries as determined by the
                Committee, shall continue to be administered as a part
                of the Fund or distributed in a lump sum to such
                Participants, Inactive Participants or Beneficiaries,
                as determined by the Committee.  Provided, however, no
                such distribution shall be made unless the distribution
                is made with respect to the Individual Account of a
                Participant who satisfied one or more of the following
                requirements:

              (i)        The Employer terminates the Plan and neither the
                         Employer nor an Affiliated Employer maintains a
                         successor Defined Contribution Plan (other than an
                         employee stock ownership plan as defined in Section
                         4975(e)(7) of the Code); or

             (ii)        The Employer has sold, or otherwise disposed of, to an
                         entity, other than an Affiliated Employer,
                         substantially all of its assets in a trade or business
                         in which the Participant is employed and such
                         Participant continues employment with the entity
                         acquiring such assets; or

            (iii)        The Employer has sold, to an entity other than an
                         Affiliated Employer, the Employer's interest in a
                         subsidiary by which the Participant is employed and
                         such Participant continues employment with such
                         subsidiary.

                Provided, however, no distribution under paragraphs (ii) or
                (iii) shall be made unless the Employer continues the Plan after
                the sale or other disposition.

                                    ARTICLE X
                                  MISCELLANEOUS

        10.1 Governing Law. The Plan shall be construed, regulated and
administered according to the laws of the State of Indiana, except in those
areas preempted by the laws of the United States of America in which case such
laws will control.

        10.2 Headings and Gender. The headings and subheadings in the Plan have
been inserted for convenience of reference only and shall not affect the
construction of the provisions hereof. In any necessary construction the
masculine shall include the feminine and the singular the plural, and vice
versa.

        10.3 Administration Expenses. The expenses of administering the Fund
and the Plan may be paid either by the participating Employer or from the Fund.

        10.4 Participant's Rights; Acquittance. No Participant in the Plan shall
acquire any right to be retained in the Employers' employ by virtue of the Plan,
nor, upon his dismissal, or upon his voluntary termination of employment, shall
he have any right or interest in and to the Fund other than as specifically
provided herein. The Employers shall not be liable for the payment of any
benefit provided for herein; all benefits hereunder shall be payable only from
the Fund.

        10.5 Spendthrift Clause. No benefit or interest available hereunder will
be subject to assignment or alienation, either voluntarily or involuntarily. The
preceding sentence shall also apply to the creation, assignment, or recognition
of a right to any benefit payable with respect to a Participant pursuant to a
domestic relations order, unless such order is determined to be a qualified
domestic relations order, as defined in Section 414(p) of the Code.

        10.6 Merger, Consolidation or Transfer.

        (a)     In the event of the merger or consolidation of the Plan
                with another plan, no Participant, Inactive Participant
                or Beneficiary shall, as a result of such event, be
                entitled on the day following such merger,
                consolidation or transfer under the termination of the
                Plan provisions to a lesser benefit than the benefit he
                was entitled to on the date prior to the merger,
                consolidation or transfer if the Plan had then
                terminated.  Neither the Employer, the Committee nor
                the Trustee shall accept a transfer of benefits or
                liabilities to the Plan from any other plan.  After
                August 9, 1988, the Trustee shall not consent to, or be
                a party to a merger, consolidation or transfer of
                assets with a Defined Benefit or Defined Contribution
                Plan, except with respect to an elective transfer.  The
                Trustee shall hold, administer and distribute the
                transferred assets as a part of the Fund and the
                Trustee must maintain a separate Employer contribution
                account for the benefit of the Employee on whose behalf
                the Trustee accepted the transfer in order to reflect
                the value of the transferred assets.  Unless a transfer
                of assets to this Plan is an elective transfer, the
                Plan will preserve all Section 411(d)(6) protected
                benefits with respect to those transferred assets, in
                the manner described in Section 9.2.

        (b)     For purposes of this Section 10.6, a transfer is an
                elective transfer if: (a) the transfer satisfied
                subsection (a) of this Section 10.6; (b) the transfer
                is voluntary and under a fully informed election by the
                Participant; (c) the Participant has an alternative
                that retains his Section 411(d)(6) protected benefits
                (including an option to leave his benefit in the
                transferor plan, if that plan is not terminating); (d)
                the transfer satisfied the applicable spousal consent
                requirements of the Code; (e) the transferor plan
                satisfied the qualified joint and survivor annuity
                notice requirements of the Code, if the Participant's
                transferred benefit is subject to those requirements;
                (f) the Participant has a right to an immediate
                distribution from the transferor plan, in lieu of the
                elective transfer; (g) the transferred benefit is at
                least the greater of the single sum distribution
                provided by the transferor plan for which the
                Participant is eligible or the present value of the
                Participant's accrued benefit under the transferor plan
                payable at that plan's normal retirement age; (h) the
                Participant has a one hundred percent (100%)
                nonforfeitable interest in the transferred benefit; and
                (i) the transfer otherwise satisfied the Treasury
                Regulations promulgated under Section 411(d)(6) of the
                Code.

        10.7 Counterparts. The Plan and the Trust Agreement may be executed in
any number of counterparts, each of which shall constitute but one and the same
instrument and may be sufficiently evidenced by any one counterpart.

        10.8 Mistake of Fact. Notwithstanding anything herein to the contrary,
upon the Employer's request, a contribution which was made by a mistake of fact,
or conditioned upon the initial qualification of the Plan, either may be
returned to the Employer by the Trustee within one (1) year after the payment of
the contribution or the denial of the qualification, whichever is applicable,
or, only if permitted under the Code, be carried over to a future year.
Contributions to the Trustee are specifically conditioned upon the receipt of a
determination from the Internal Revenue Service that the Plan initially
satisfies the requirements of Sections 401(a) and 401(k) of the Code. In the
event of an adverse determination by the Internal Revenue Service, all Trust
assets held may be returned by the Trustee to the Employer (within one (1) year
after such determination) upon its request.

        10.9 No Enlargement of Employment Rights. Nothing contained in the Plan
shall be construed as a contract of employment between the Employer and any
person, nor shall the Plan be deemed to give any person the right to be retained
in the employ of the Employer or limit the right of the Employer to employ or
discharge any person with or without cause, or to discipline any Employee.

        10.10 No Guarantee. Neither the Trustee, the Committee, nor the Employer
in any way guarantees the assets in the Trust credited by the Plan from loss or
depreciation nor the payment of any money or other assets which may be or become
due to any person from the Plan. No Participant shall have any recourse against
the Trustee, the Employer or the Committee if Plan assets are insufficient to
provide benefits under the Plan.

        10.11 Prudent Man Rule. Notwithstanding any other provision of this
Plan, and the Trust Agreement, the Trustee, the Committee and the Employer shall
exercise their powers and discharge their duties under the Plan and Trust
Agreement for the exclusive purpose of providing benefits to Employees and their
Beneficiaries, and shall act with the care, skill and diligence under the
circumstances that a prudent man acting in a like capacity and familiar with
such matters would use in the conduct of an enterprise of a like character and
with like aims.

        10.12 Limitations on Liability. Notwithstanding any of the preceding
provisions of the Plan, none of the Trustee, the Employer, the Committee and
each individual acting as an employee or agent of any of them shall be liable to
any Participant, Inactive Participant, Employee or Beneficiary for any claim,
loss, liability or expense incurred in connection with the Plan, except when the
same shall have been judicially determined to be due to the gross negligence or
willful misconduct of such person.

                                   ARTICLE XI
                              ADOPTION OF THE PLAN

        This Plan is intended to meet the requirements of Sections 401(a) and
401(k) of the Code, and ERISA, to the extent applicable, so that the income of
the Fund may be exempt from taxation under Section 501(a) of the Code, and
contributions of the Employer under the Plan may be deductible for federal
income tax purposes under Section 404 of the Code. Any modification or amendment
of the Plan may be made retroactively, as necessary or appropriate, to establish
and maintain such qualification and to meet any requirement of the Code or
ERISA.

                                   SIGNATURES

        As evidence of its adoption of this amended and restated Plan, Monroe
Bancorp has caused this instrument to be signed by its officers thereunder duly
authorized this day of , 19 , but generally effective as of January 1, 1991,
unless otherwise specified herein or by applicable law.

                                         MONROE BANCORP

                                         By:
                                            David D. Baer, President

ATTEST: [SEAL]

By:
   R. Scott Walters
   Vice President and Trust Officer

                                      -11-
<PAGE>

                               FIRST AMENDMENT OF
                           MONROE BANCORP THRIFT PLAN

         WHEREAS, Monroe Bancorp ("Corporation") maintains the Monroe Bancorp
Thrift Plan ("Plan"), as amended and restated generally effective January 1,
1991; and

         WHEREAS, the Corporation wishes to amend Section 3.7(a) of the Plan to
provide for an increase in employer matching contributions and to add a new
Section 6.8 to provide for participant loans; and

         WHEREAS, pursuant to the authority contained in Section 9.1 of the
plan, the Corporation reserved the right to amend the Plan by action of the
Board of Directors;

         NOW, THEREFORE, the Corporation hereby amends the Plan, effective for
plan years beginning on and after January 1, 1996, as follows:

         1. Section 3.7(a) of the Plan, regarding employer matching
contributions, is hereby amended in its entirety to read as follows:

         "(a)     As of the annual Valuation Date, the Employer shall contribute
                  an amount on behalf of each eligible Participant necessary to
                  match fifty percent (50%) of each eligible Participant's
                  eligible Salary Redirection Contributions up to five percent
                  (5%) of such Participant's Compensation made to the Fund since
                  the last preceding annual Valuation Date by each such eligible
                  Participant.

         For this purpose, an "eligible" Participant is a Participant described
in Section 4.3."

         2. A new Section 8.12, regarding Participant loans, is hereby added to
the Plan to read as follows:

         "8.12    Loans From Participant's Salary Redirection Contributions and
                  Rollover Accounts.

         (a)      Loan Policy. The Committee shall establish a nondiscriminatory
                  policy which the Committee or designated members thereof must
                  observe in making loans, if any, to Participants; provided,
                  that such policy shall be in a written document and shall
                  include the following:

                  (i)      The identity of the person(s) authorized to
                           administer the Participant Loan Program;

                  (ii)     A procedure for applying for a loan;

                  (iii)    The criteria for approving or denying a loan;

<PAGE>

                  (iv)     The limitations, if any, on the types and amounts of
                           loans available;

                  (v)      The procedure for determining a reasonable rate of
                           interest;

                  (vi)     The types of collateral which may secure the loan;
                           and

                  (vii)    The events constituting default and the steps the
                           Plan will take to preserve Plan assets in the event
                           of default.

        (b)     Limitation on Loans to Salary Redirection Contributions and
                Rollover Accounts. Loans shall be made available solely from the
                Participant's Salary Redirection Contributions and Rollover
                Accounts; the portion of a Participant's Individual Account
                attributable to Matching, Profit Sharing, Qualified Matching and
                Qualified Non-Elective Contributions shall not be available for
                loans.

        (c)     Minimum Loan Requirements. All such loans shall be made to
                Participants on a non-discriminatory basis in accordance with
                the above-referenced loan policy established by the Committee.
                Provided, however, all loans shall satisfy the following
                requirements:

              (i)        The loan shall be adequately secured and shall bear a
                         reasonable rate of interest;

             (ii)        The loan shall provide for repayment within a specified
                         time;

            (iii)        The default provisions of the note under the loan shall
                         prohibit the offset of the Participant's Individual
                         Account prior to the time the Committee would otherwise
                         direct the Trustee to distribute the Participant's
                         Individual Account;

             (iv)        The amount of the loan shall not exceed (at the time
                         the Plan extends the loan) the lesser of fifty percent
                         (50%) of the present value of the Participant's vested
                         interest in the Participant's Salary Redirection
                         Contributions and Rollover Accounts; or Fifty Thousand
                         Dollars ($50,000) (reduced by the excess of (A) the
                         Participant's highest outstanding loan balance during
                         the twelve (12) month period ended on the day
                         immediately preceding the date of the new loan over
                         (B) the outstanding balance of loans from the Plan
                         to the Participant on the date the new loan is made);
                         and

              (v)        The loan otherwise conforms to the exemption provided
                         by Section 4975(d)(1) of the Code."

        The Plan shall remain the same in all other respects except as provided
by the First Amendment above.

<PAGE>

        IN WITNESS WHEREOF, the Corporation, by its officers thereunder duly
authorized, adopts this First Amendment this day of , 1995, effective January 1,
1996.

                                           MONROE BANCORP

                                           By:
                                              David D. Baer, President

ATTEST:    [SEAL]

By:

Title:

<PAGE>

                               SECOND AMENDMENT OF
                           MONROE BANCORP THRIFT PLAN

         WHEREAS, Monroe Bancorp ("Corporation") maintains the Monroe Bancorp
Thrift Plan ("Plan"); and

         WHEREAS, by corporate resolutions, the Corporation has approved and
adopted this amendment of the Plan to provide for participants to direct the
investment of their accounts under the Plan and for quarterly Plan entry dates;
and

         WHEREAS, pursuant to the authority contained in Section 9.1 of the
Plan, the Board of Directors of the Corporation reserved the right to amend the
Plan by action of the Board of Directors;

         NOW, THEREFORE, the Corporation hereby amends the Plan, effective on
and after July 1, 1997, as follows:

         1. Section 1.47 of the Plan, regarding the definition of "Valuation
Date", is hereby amended to read as follows:

                  "1.47 'Valuation Date' means the last day of March, June,
         September and December, as of which dates the Fund shall be valued at
         fair market value. The Committee may, in its discretion, from time to
         time value the Fund as of any other date or dates it deems desirable in
         its discretion."

         2. The Plan is amended by adding Section 2.7, regarding investment of
account balances, to the Plan as follows:

                  "2.7 Investment of Account Balance. Each Participant may
         direct, at the time he commences participation, that his Individual
         Account be invested in one (1) or any combination of the investment
         accounts or funds made available by the Committee. A Participant may
         change his investment election at such times as shall be permitted by
         the Committee. Such change may be made applicable to that portion of
         his Individual Account attributable to prior contributions and/or
         future contributions to the Plan. A Participant may also make
         inter-account transfers between and among investment accounts made
         available by the Committee at such times as shall be permitted by the
         Committee. Notwithstanding the foregoing provisions regarding
         inter-account transfers, the investment manager may impose restrictions
         on such transfers in the case of a group annuity contract or time
         instrument."

         3. Section 3.7(a) of the Plan, regarding matching contributions, is
hereby amended to read as follows:

                  "(a)     As of the December 31 Valuation Date the Employer
                           shall contribute an amount on behalf of each
                           eligible Participant

                                       -1-
<PAGE>

                           necessary to match fifty percent (50%) of each
                           eligible Participant's eligible Salary Redirection
                           Contributions up to five percent (5%) of such
                           Participant's Compensation made to the Fund since the
                           last preceding December 31 Valuation Date by each
                           such eligible Participant. For this purpose, an
                           "eligible" Participant is a Participant described in
                           Section 4.3."

         4. Section 4.3 of the Plan, regarding allocation of matching
contributions, is hereby amended to read as follows:

                  4.3 Allocation of Matching Contributions. The Committee, as of
         the last day of the Plan Year (or such other Valuation Date as the
         Committee shall determine), shall determine for each eligible
         Participant, his share of Matching Contributions contributed in
         accordance with Section 3.7. The Matching Contributions shall be
         allocated to the Matching Contributions Accounts of each Participant
         (i) who made Salary Redirection Contributions to the Fund since the
         last day of the prior Plan Year (or such other Valuation Date as the
         Committee shall determine) and (ii) who is an Employee on the last day
         of such Plan Year and who completed one thousand (1,000) Hours of
         Service during the Plan Year. Provided, however, a Participant who is
         not an Employee on the last day of the Plan Year but who made Salary
         Redirection Contributions during such Plan Year shall also share in the
         allocation of Matching Contributions for the Plan Year of his
         retirement upon or after attaining his Normal Retirement Age, Total and
         Permanent Disability or death.

         5. Section 4.4 of the Plan, regarding allocation of adjustments, is
hereby amended by adding the following new paragraph to the end thereof, to read
as follows:

                  "Provided, further, for any period in which one or more
         investment funds are maintained under Section 2.7, the foregoing
         provisions of this Section 4.4 will be applied to the account balances
         invested in each investment fund and to any withdrawals or
         contributions to be allocated to an investment fund as if each
         investment fund were a separate Fund."

         The Plan shall remain the same in all other respects except as provided
by the Second Amendment above.

                                       -2-
<PAGE>

         IN WITNESS WHEREOF, the Corporation, by its officers thereunder duly
authorized, adopts this Second Amendment this day of , 1997, effective July 1,
1997.

                                         MONROE BANCORP

                                         By:
                                            David D. Baer, President

ATTEST:

By:
Title:

                                                        -3-

<PAGE>

                               THIRD AMENDMENT OF
                           MONROE BANCORP THRIFT PLAN

         WHEREAS, Monroe Bancorp ("Corporation") maintains the Monroe Bancorp
Thrift Plan ("Plan"); and

         WHEREAS, the Corporation desires to approve and adopt this amendment of
the Plan to provide for Employees to have an eligible rollover distribution from
another plan paid directly into the Plan in a direct rollover; and

         WHEREAS, pursuant to the authority contained in Section 9.1 of the
Plan, the Board of Directors of the Corporation reserved the right to amend the
Plan by action of the Board of Directors;

         NOW, THEREFORE, the Corporation hereby amends the Plan, effective on
and after January 1, 1997, as follows:

         1. Section 3.2 of the Plan, regarding Rollover Contributions, is hereby
amended to read as follows:

                  "3.2 Rollover Contributions. An Employee who receives an
         eligible rollover distribution, as defined in Code Section 402(c)(4) or
         408(d)(3) of the Code, from a plan which meets the requirements of
         Section 401(a) or Section 408(a) of the Code may, whether or not he is
         presently eligible to participate in this Plan and in accordance with
         procedures approved by the Committee, transfer the distribution
         received from such other plan to the Trustee, provided the following
         conditions are met:"

         2. Section 3.2(d) of the Plan, regarding direct rollovers not
permitted, is hereby amended to read as follows:

                  "(d)     Direct Rollovers Permitted. An Employee may elect
                           to have a distribution from another plan paid
                           directly into the Plan.  As a result, the Plan
                           constitutes an eligible retirement plan for purposes
                           of Section 401(a)(31) of the Code.

         The Plan shall remain the same in all other respects except as provided
by the Third Amendment above.

                                       -1-
<PAGE>

         IN WITNESS WHEREOF, the Corporation, by its officers thereunder duly
authorized, adopts this Third Amendment this day of , 1998, effective January 1,
1997.

                                         MONROE BANCORP

                                         By:
                                            David D. Baer, President

ATTEST:

By:
Title:

                                       -2-
<PAGE>

                               FOURTH AMENDMENT OF
                           MONROE BANCORP THRIFT PLAN

         WHEREAS, Monroe Bancorp (the "Corporation") maintains the Monroe
Bancorp Thrift Plan  (the "Plan"); and

         WHEREAS, the Corporation has determined that the Plan should be amended
to follow the "safe harbor" methods provided in Sections 401(k)(12) and
401(m)(11) of the Internal Revenue Code for satisfying the nondiscrimination
tests under Sections 401(k) and 401(m) of the Internal Revenue Code; and

         WHEREAS, the Corporation also desires to amend the Plan to allow
forfeitures to be used to reduce the Corporation's contributions payable to the
Plan; and

         WHEREAS, pursuant to the authority contained in Section 9.1 of the
Plan, the Board of Directors of the Corporation reserved the right to amend the
Plan by action of the Board of Directors;

         NOW, THEREFORE, the Corporation hereby amends the Plan, effective on
and after January 1, 1999, as follows:

         1.       By substituting the following for Section 3.7(a) of the Plan:

                    "(a) As of each December 31 Valuation Date, the Employer
                         shall contribute the amount, on behalf of each eligible
                         Participant, necessary to match one hundred percent
                         (100%) of each eligible Participant's eligible Salary
                         Redirection Contributions made to the Fund since the
                         last preceding December 31 Valuation Date up to three
                         percent (3%) of such Participant's Compensation plus
                         the amount necessary to match fifty percent (50%) of
                         each eligible Participant's eligible Salary Redirection
                         Contributions made to the Fund since the last preceding
                         December 31 Valuation Date which exceed three percent
                         (3%) of such Participant's Compensation but which do
                         not exceed five percent (5%) of such Participant's
                         Compensation. For this purpose, an 'eligible'
                         Participant is a Participant described in Section 4.3."

         2.       By adding the following new Section 3.12 to the Plan:

                    "3.12. Alternative Method of Meeting Nondiscrimination
                           Requirements. Effective for Plan Years beginning on
                           and after January 1, 1999, the Plan shall be deemed
                           to satisfy the requirements of Sections 3.4 and 3.8
                           for a Plan Year if the Plan:

                           1.       meets the contribution requirements of Code
                                    Section 401(k)(12)(B) or (C),

<PAGE>

                           2.       meets the contribution requirements of Code
                                    Section 401(m)(11)(B), and

                           3.       meets the notice requirements of Code
                                    Section 401(k)(12)(D) for that Plan Year."

         3.       By adding the following to the end of Section 4.5 of the Plan:

                  "Effective for Plan Years beginning on or after January 1,
                  1999, the amount of a Participant's Profit Sharing and
                  Matching Contribution Accounts forfeited under the Plan shall
                  be used to reduce the Employer contributions payable under
                  Section 3.1or 3.7 for the Plan Year in which the forfeiture
                  occurs, rather than being reallocated as described above."

         4.       By substituting Section 5.1(a) of the Plan with the following:

                    (a)    Vesting on Termination of Service. Each Participant
                           shall always be one hundred percent (100%) vested in
                           the balance of his Rollover, Salary Redirection and
                           Qualified Non-Elective Contributions Accounts.

                           A Participant shall be one hundred percent (100%)
                           vested in the balance of his Profit Sharing and
                           Matching Contributions Accounts under the Plan as
                           follows: (i) upon attaining Normal Retirement Age
                           (age 65); (ii) upon the Committee's determination
                           that the Participant is Totally and Permanently
                           Disabled; and (iii) upon the death of the Participant
                           while still employed.

                           For Plan Years beginning prior to January 1, 1999, in
                           the event a Participant's Separation from Service
                           should occur under any circumstances other than those
                           set forth in (i), (ii) or (iii) above, his vested
                           interest in his Profit Sharing and Matching
                           Contributions Accounts shall be determined based on
                           his completed Years of Vesting Service as follows:

                              Years of               Vested        Forfeited
                           Vesting Service         Percentage      Percentage

                                 0-5                    0%            100%
                              5 or More               100%              0%

                           For Plan Years beginning on and after January 1,
                           1999, in the event a Participant's Separation from
                           Service should occur under any circumstances other
                           than those set forth in (i), (ii) or (iii) above, the
                           Participant shall be one

                                       -2-
<PAGE>

                           hundred percent (100%) vested in the balance in his
                           Matching Contributions Account and his vested
                           interest in his Profit Sharing Contributions Account
                           shall be determined based on his completed Years of
                           Vesting Service as follows:

                              Years of               Vested        Forfeited
                           Vesting Service         Percentage      Percentage

                                 0-5                    0%            100%
                              5 or More               100%              0%"

         IN WITNESS WHEREOF, the Corporation, by its officers thereunder duly
authorized, adopts this Fourth Amendment this day of , 2000, but effective as of
January 1, 1999.

                                         MONROE BANCORP

                                         By:

                                         Its:

ATTEST:

By:
Title:

                                       -3-EXHIBIT 10.(vi)

                                 MONROE BANCORP
                          EMPLOYEE STOCK OWNERSHIP PLAN

                              Amended and Restated
                       Generally Effective January 1, 1991

                                   Rev. 12/94

<PAGE>

                                 MONROE BANCORP
                          EMPLOYEE STOCK OWNERSHIP PLAN

                                TABLE OF CONTENTS

ARTICLE                                                                 PAGE

        I      PURPOSE OF THE PLAN                                         1

       II      DEFINITIONS                                                 2

               2.1         Adjusted Balance                                2
               2 2         Adjustment Factor                               2
               2.3         Annual Additions                                2
               2.4         Beneficiary                                     3
               2.5         Board                                           3
               2.6         Break in Service                                3
               2.7         Code                                            4
               2.8         Committee                                       4
               2.9         Company                                         4
               2.10        Company Contribution Account                    5
               2.11        Company Stock                                   5
               2.12        Company Stock Account                           5
               2.13        Compensation                                    5
               2.14        Debt                                            6
               2.15        Defined Benefit Plan                            7
               2.16        Defined Contribution Plan                       7
               2.17        Effective Date                                  7
               2.18        Employee                                        7
               2.19        Employment Commencement Date                    8
               2.20        ERISA                                           8
               2.21        Fiduciary                                       8
               2.22        Highly Compensated Employee                     8
               2.23        Hour of Service                                10
               2.24        Inactive Participant                           11
               2.25        Key Employee                                   11
               2.26        Limitation Year                                12
               2.27        Loan                                           12
               2.28        Maximum Permissible Amount                     13
               2.29        Non-Highly Compensated Employee                13
               2.30        Other Investments Account                      13
               2.31        Participant                                    13
               2.32        Plan                                           13
               2.33        Plan Year                                      13
               2.34        Qualified Participant                          13
               2.35        Qualified Election Period                      13
               2.36        Related Plan                                   14
               2.37        Service                                        14
               2.38        Top Heavy Provisions                           14
               2.39        Total and Permanent Disability                 19

                                      - i -
<PAGE>

ARTICLE                                                                 PAGE
               2.40        Total Distribution                             19
               2.41        Trust                                          19
               2.42        Trust Agreement                                19
               2.43        Trustee                                        19
               2.44        Valuation Date                                 19

      III      PARTICIPATION                                              19

               3.1         Eligibility and Participation                  19
               3.2         Plan Binding                                   21
               3.3         Reemployment                                   21
               3.4         Beneficiary Designation                        22
               3.5         No Credit Upon Acquisition and Recognition
                             of Past Service                              22

       IV      CONTRIBUTIONS                                              23

               4.1         Company Contributions                          23
               4.2         Exclusive Benefit of Employees                 24

        V      INVESTMENT OF TRUST ASSETS                                 25

               5.1         Investments                                    25
               5.2         Purchase of Company Stock                      25
               5.3         Suspense Account                               26

       VI      EXEMPT LOANS                                               27

               6.1         Loans                                          27
               6.2         Loan Payments                                  29
               6.3         Right of First Refusal                         31
               6.4         Put Option                                     31
               6.5         Continuation of Rights of Put Option           33

      VII      ALLOCATIONS TO PARTICIPANTS' ACCOUNTS                      33

               7.1         Separate Accounts                              33
               7.2         Company Stock                                  33
               7.3         Other Investments                              33
               7.4         Allocations of Company Contributions
                              and Forfeitures                             34
               7.5         Maximum Allocations                            36
               7.6         Limitations on Participants Who
                              Participate in More Than One Plan           37
               7.7         Vesting                                        39
               7.8         Allocation of Dividends                        44
               7.9         Net Income (or Loss) of the Trust              45
               7.10        Accounting for Allocations                     45
               7.11        Benefits to Minors and Incompetents            46

                                     - ii -
<PAGE>

ARTICLE                                                                 PAGE
     VIII      DISTRIBUTION OF BENEFITS                                   46

               8.1         Time of Payment of Benefits                     46
               8.2         Method of Payment                               49
               8.3         Property Distributed                            49
               8.4         Valuation of Company Stock and
                              Other Investments Accounts                   50
               8.5         Minimum Required Distributions                  51
               8.6         Dividends                                       51
               8.7         Distributions Under Qualified Domestic
                              Relations Orders                             52
               8.8         Direct Rollovers                                53

       IX      VOTING COMPANY STOCK                                        54

               9.1         Voting Company Stock                            54
               9.2         Tender Offers                                   55

        X      DIVERSIFICATION OF INVESTMENT IN COMPANY STOCK              56

               10.1        Election by Qualified Participant               56
               10.2        Method of Directing Investment                  56
               10.3        Investment Options                              56

       XI      FUNDING AND PLAN ADMINISTRATION                             57

               11.1        Funding Policy                                  57
               11.2        Fiduciaries                                     58
               11.3        Company                                         58
               11.4        Trustee                                         59
               11.5        Benefits Committee                              59
               11.6        Claims Procedures                               60
               11.7        Records                                         62
               11.8        Disclosures to Participants                     62
               11.9        No Liability                                    63
               11.10       Indemnity of Committee Members                  63
               11.11       Company Direction of Investment                 63
               11.12       Amendment to Vesting Schedule                   64
               11.13       Discretionary Powers and Authority of the
                              Company and Committee                        64

      XII      AMENDMENT AND TERMINATION OF THE PLAN                       65

               12.1        Amendment of the Plan                           65
               12.2        Termination of the Plan                         66
               12.3        Limitation on Amendment or Termination          66

                                     - iii -
<PAGE>

ARTICLE                                                                 PAGE

     XIII      MISCELLANEOUS                                              67

               13.1        Governing Law                                  67
               13.2        Headings and Gender                            67
               13.3        Administration Expenses                        67
               13.4        Participants' Rights; Acquittance              67
               13.5        Spendthrift Clause                             67
               13.6        Merger, Consolidation or Transfer              67
               13.7        Counterparts                                   68
               13.8        Mistake of Fact                                68
               13.9        No Enlargement of Employment Rights            69
               13.10       No Guarantee                                   69
               13.11       Federal and State Securities Law Compliance    69
               13.12       Prudent Man Rule                               69
               13.13       Limitations on Liability                       70

      XIV      ADOPTION OF THE PLAN                                       70

               SIGNATURES                                                 71

                                     - iv -
<PAGE>

                                 MONROE BANCORP
                          EMPLOYEE STOCK OWNERSHIP PLAN

                                    ARTICLE I

                               PURPOSE OF THE PLAN

         The purpose of this Plan is to enable participating Employees to share
in the growth and prosperity of the Company, to provide participating Employees
with an opportunity to accumulate capital for their future economic security, to
furnish additional security to participating Employees who become Totally and
Permanently Disabled, and to enable participating Employees to acquire stock
ownership interests in the Company. Consequently, Company contributions to the
Plan will be invested primarily in Company Stock.

         The Plan is designed to assist the Company in meeting some of its
corporate finance objectives. Accordingly, it may be used to accomplish the
following objectives:

         (1)       To provide an entity which may purchase Company Stock from
                   time to time in the existing market for such stock or
                   directly from the Company; and, if such stock is purchased
                   directly from the Company, to provide the Company with
                   additional capital;

         (2)       To provide participating Employees with beneficial ownership
                   of Company Stock, substantially in proportion to their
                   relative Compensation, without requiring any cash outlay, any
                   reduction in pay or other benefits, or the surrender of any
                   other rights on the part of Employees; and

         (3)       To receive loans (or other extensions of credit) to
                   finance the acquisition of Company Stock, with such
                   loans (or credit) secured primarily by a commitment by
                   the Company to make (subject to the limitations in
                   Sections 7.5 and 7.6) Company contributions to the
                   Trust in amounts sufficient to enable principal and
                   interest on such loans to be repaid.

         The Plan, originally effective as of January 1, 1985, constitutes a
continuation and complete restatement, generally effective January 1, 1991, and
on such other dates as provided herein and as may be provided by applicable law,
shall continue to constitute an employee stock ownership plan as described in
Section 4975(e)(7) of the Code and Section 407(d)(6) of ERISA and a stock bonus
plan intended to be qualified under Section 401(a) of the Code. All assets
acquired under this Plan as a result of Company contributions, income and other
additions to the Trust will be administered, distributed, forfeited and
otherwise governed by the provisions of this Plan. The applicable provisions of
this amended and restated Plan shall apply to an employee whose employment is
terminated on or after the 1st day of January, 1991 or such later date as
provided herein or by applicable law with respect to certain provisions of the
Plan. The rights and benefits, if any, of an employee whose employment
terminated before such date(s) shall be determined in accordance with the
provisions of the Plan that were in effect on the date that such employment was
terminated; provided, however, that if full distribution of such an employee's
accounts did not occur prior to January 1, 1991, or such later date as may
otherwise apply, then the provisions of this amended and restated Plan shall
apply.

                                   ARTICLE II

                                   DEFINITIONS

         Whenever the initial letter of a word or phrase is capitalized herein,
the following words and phrases shall have the meanings stated below unless a
different meaning is plainly required by the context:

         2.1 "Adjusted Balance" means the balance in a Participant's account or
accounts under the Plan, as adjusted in accordance with Sections 7.7 through
7.10 and by distributions made pursuant to Article VIII as of the applicable
Valuation Date.

         2.2 "Adjustment Factor" means the cost of living adjustment factor
described by the Secretary of the Treasury under Section 415(d) of the Code, as
applied to such items and in such manner as the Secretary of the Treasury shall
provide.

         2.3 "Annual Additions" means the sum of the Company contributions,
voluntary contributions and forfeitures credited or debited to a Participant's
accounts for the Limitation Year under all Defined Contribution Plans maintained
by the Company. Amounts allocated, after March 31, 1984, to an individual
medical account, as defined in Section 415(l)(2) of the Code, which is part of a
pension or annuity plan maintained by the Company shall be treated as Annual
Additions to a Defined Contribution Plan. Also, amounts derived from
contributions paid or accrued after December 31, 1985, and taxable years ending
after such date, which are attributable to post- retirement medical benefits
allocated to the separate account of a key employee, as defined in Section
419A(d)(3) of the Code, under a welfare benefit fund, as defined in Section
419(e) of the Code, maintained by the Company, are treated as Annual Additions
to a Defined Contribution Plan, but only for purposes of the dollar limitation
applicable to the Maximum Permissible Amount, as defined in Section 2.28. The
preceding provisions of this Section 2.3 shall be effective for Plan Years
commencing after December 31, 1986.

         For the purposes of this Section 2.3 and Section 2.28, compensation
shall mean Compensation as defined in Section 2.13, disregarding elective
contributions and any exclusions from compensation.

         2.4 "Beneficiary" means the surviving spouse of a Participant, or, if
such Participant has no surviving spouse or if the Participant's spouse has made
a Qualified Consent to the selection of a different beneficiary, any person
designated by a Participant to receive such benefits as may become payable
hereunder after the death of such Participant. For purposes of this Section 2.4,
a Qualified Consent means a consent by the Participant's spouse which consent
acknowledges the effect of the designation and has been executed by such spouse
in writing and witnessed by a member of the Committee or a notary public. A
Qualified Consent must either designate a beneficiary and a form of benefits or
expressly permit designations by the Participant without further consent by the
spouse. Any consent necessary under this Section 2.4 will be valid only with
respect to the spouse who signs the consent. Additionally, a revocation of a
prior consent may be made at any time by such spouse. A Qualified Consent need
not be furnished by a Participant if the Participant establishes to the
satisfaction of the Committee that no consent is required because (i) there is
no spouse, (ii) the spouse cannot be located, (iii) the Participant is legally
separated or the spouse has abandoned the Participant as evidenced by a court
order to such effect, or (iv) the spouse is legally incompetent to give consent
(in which case the legal guardian of the spouse may give consent even if the
Participant is the legal guardian), or because of other circumstances which may
be prescribed by the Code or Treasury Regulations. The Qualified Consent
provisions of this Section 2.4 shall apply to a former spouse of the
Participant, to the extent required by a qualified domestic relations order.

         2.5 "Board" means the Board of Directors of the Company.

         2.6 "Break in Service" means a computation period, as specified in
Section 2.37, during which a Participant is not credited with more than five
hundred (500) Hours of Service. Solely for purposes of determining whether a
Break in Service, as defined in this Section 2.6, for participation and vesting
purposes, has occurred in a computation period, an individual who is absent from
work for maternity or paternity reasons shall receive credit for the Hours of
Service which would otherwise have been credited to such individual but for such
absence, or in any case in which such hours cannot be determined, eight (8)
Hours of Service per day of such absence. For purposes of this Section 2.6, an
absence from work for maternity or paternity reasons means an absence (1) by
reason of the pregnancy of the individual, (2) by reason of a birth of a child
of the individual, (3) by reason of the placement of a child with the individual
in connection with the adoption of such child by such individual, or (4) for
purposes of caring for such child for a period beginning immediately following
such birth or placement. The Hours of Service credited under this Section 2.6
shall be credited (1) in the computation period in which the absence begins if
the crediting is necessary to prevent a Break in Service in that period, or (2)
in all other cases, in the following computation period. The total number of
Hours of Service required to be treated as completed for any computation period
shall not exceed five hundred one (501) Hours of Service.

         2.7 "Code" means the Internal Revenue Code of 1986, as amended from
time to time. Reference to a Section of the Code shall include that Section and
any comparable Section or Sections of any future legislation that amends,
supplements or supersedes said Section.

         2.8 "Committee" means the Benefits Committee described in
Section 11.5.

         2.9 "Company" means Monroe Bancorp, an Indiana corporation, and
wherever required by the context of this Plan, an Affiliated Company, which, by
action of its board of directors, adopts this Plan subject to the acceptance of
such participation by the Board, and any successor to one or more of such
entities if such successor shall adopt and continue the Plan by appropriate
corporate action. All employees of: (i) any corporation which is a member of a
controlled group of corporations (as defined in Section 414(b) of the Code) with
the Company; (ii) any trade or business (whether or not incorporated) which is
under common control (as defined in Section 414(c) of the Code) with the
Company; (iii) any member of an affiliated service group (as defined in Section
414(m) of the Code) which includes the Company; and (iv) any other entity
required to be aggregated with the Company pursuant to Section 414(o) of the
Code and the Treasury Regulations promulgated thereunder, shall be treated as
employed by the Company only for purposes of determining the definitions of
Compensation, Employee and leased employee under Sections 2.13 and 2.18,
respectively; determining Breaks in Service under Section 2.6, crediting Hours
of Service under Section 2.23; determining Service under Section 2.37; applying
the top-heavy rules under Section 2.38; determining eligibility to participate
under Section 3.1 (unless such employees are specifically excluded from coverage
under the Plan by the Board); determining the limitations on allocations to
Participants' accounts under Article VII; and determination of Vesting Service
under Sections 2.38, and 7.7. In addition, the entities and any other
organization described in (i) through (iv), above shall constitute an Affiliated
Company.
Notwithstanding anything to the contrary contained in this Section 2.9, no
provision of this Section 2.9 shall be construed or interpreted to require the
Company to make a Company contribution under the Plan for any individual who is
not an Employee.

         2.10 "Company Contribution Account" means the Company Stock and other
assets held by the Trustee for the Plan derived from Company contributions to
the Trust. The Company Contribution Account shall consist of the Company Stock
Contribution Account and the Company Other Investments Contribution Account to
which contributions to the Plan and earnings thereon shall be allocated in
accordance with the provisions of Articles IV through VII.

         2.11 "Company Stock" means any qualifying employer security within the
meaning of Section 4975(e)(8) of the Code and Section 407(d)(1) of ERISA and
Treasury and Department of Labor Regulations promulgated thereunder.

         2.12 "Company Stock Account" means an account of a Participant which is
credited with his allocable share of Company Stock purchased and paid for by the
Trust or contributed to the Trust.

         2.13 "Compensation" means a Participant's wages, salaries and fees for
professional services and other amounts received (without regard to whether or
not an amount is paid in cash) paid during a Plan Year for personal services
actually rendered in the course of employment with the Company as reported for
federal income tax purposes on IRS Form W-2. Compensation shall include (i)
elective contributions to the Plan or any other plan maintained by the Company
on the Employee's behalf; (ii) compensation deferred under an eligible deferred
compensation plan within the meaning of Section 457(b) (relating to deferred
compensation plans maintained by state and local governments and tax-exempt
organizations); and (iii) employee contributions (under governmental plans)
described in Section 414(h)(2) of the Code that are picked up by the employing
unit and thus are treated as company contributions. "Elective contributions" are
amounts excludable from the Employee's gross income under Section 402(a)(8) of
the Code (relating to an arrangement under Section 401(k)), Section 402(h) of
the Code (relating to a simplified employee pension plan), Section 125 of the
Code (relating to a cafeteria plan) or Section 403(b) of the Code (relating to a
tax-sheltered annuity). Effective January 1, 1994, Compensation shall not
include any salary reduction contributions under the Monroe Bancorp Executives'
Deferred Compensation Plan. Effective July 1, 1994, Compensation shall exclude
all amounts paid to Participants during a Plan Year under the "Quality Award
Program" sponsored by the Company.

         Any reference in this Plan to Compensation is a reference to the
definition in this Section 2.13, unless the Plan reference specifies a
modification to this definition. The Committee will take into account only
Compensation actually paid during the Plan Year.

         For any Plan Year beginning after December 31, 1988, the Committee
shall take into account for all purposes under the Plan (including without
limitation contributions and allocations for a Plan Year) only the first Two
Hundred Thousand Dollars ($200,000), as adjusted by the Adjustment Factor, of
any Participant's Compensation. For this purpose, any increase in the Two
Hundred Thousand Dollar ($200,000) limit due to the application of the
Adjustment Factor shall only apply to Compensation taken into account for the
Plan Year of such increase and subsequent years and shall not apply to
Compensation for prior Plan Years in determining a Participant's allocations
under or contributions to the Plan on behalf of such Participant. The Two
Hundred Thousand Dollar ($200,000) Compensation limitation applies to the
combined Compensation of the Participant and of any Family Member aggregated
with the Employee under Section 2.22 and who is either (i) the Employee's spouse
or (ii) the Employee's lineal descendant under the age of nineteen (19). If such
Compensation limitation applies to the combined Compensation of the Participant
and one or more Family Members, the Committee will apply the contribution and
allocation provisions of Articles III and IV by prorating such limitation among
the affected individuals in proportion to each such individual's Compensation
determined prior to application of this limitation.

         Effective for Plan Years commencing after December 31, 1993, the amount
of "$200,000", wherever it appears in the preceding paragraphs, shall be
replaced by the amount of "$150,000". Provided, further, for purposes of
applying the Adjustment Factor to the $150,000 amount, the base period under
Section 415(d)(1)(A) of the Code shall be the calendar quarter commencing
October 1, 1994.

         For purposes of determining whether the Plan discriminates in favor of
Highly Compensated Employees, Compensation means Compensation as defined in
Section 415(c)(3)(A) of the Code, unless the Company elects to use an alternate
nondiscriminatory definition, in accordance with the requirements of Section
414(s) of the Code and the Treasury Regulations promulgated thereunder. The
Company may elect to include all elective contributions made by the Company on
behalf of Participants. The Company's election to include elective contributions
must be consistent and uniform with respect to all Participants and all plans of
the Company for any particular Plan Year. The Company may make this election to
include elective contributions for nondiscrimination testing purposes,
irrespective of whether this Section 1.13 includes elective contributions in the
general Compensation definition applicable to the Plan.

         2.14 "Debt" means any borrowing obligation incurred by the
Trustee that is not a Loan.

         2.15 "Defined Benefit Plan" means a plan which is established and
qualified under Section 401 or Section 404 of the Code, except to the extent it
is, or is treated as, a Defined Contribution Plan.

         2.16 "Defined Contribution Plan" means a plan which is established and
qualified under Section 401 or Section 403 of the Code, which provides for an
individual account for each participant therein and for benefits based solely on
the amount contributed to each participant's account and any income and expenses
or gains or losses (both realized and unrealized) which may be allocated to such
accounts.

         2.17 "Effective Date" of the Plan, as completely amended and restated,
means January 1, 1991, unless otherwise specified herein or required by
applicable law.

         2.18 "Employee" means

         (a)       Any individual who is employed as an employee (whether
                   on a full-time, part-time, regular, temporary or other
                   basis) by the Company.

         (b)       An individual (who otherwise is not an Employee of the
                   Company) who, pursuant to a leasing agreement between
                   the Company and any other person ("leasing
                   organization"), has performed services for the Company
                   (or for the Company and any persons related to the
                   Company within the meaning of Section 414(n)(6) of the
                   Code) on a substantially full-time basis for at least
                   one (1) year and to perform services historically
                   performed by employees in the Employer's business
                   field.  If a leased employee is treated as an Employee
                   by reason of this Section 2.18, Compensation shall
                   include compensation from the leasing organization
                   which is attributable to services performed for the
                   Company and contributions or benefits provided to a
                   leased employee by the leasing organization which are
                   attributable to services performed for the Company
                   shall be treated as provided for the Company.

                   (i)       The Plan does not treat a leased employee as an
                             Employee if the leasing organization covers the
                             Employee in a safe harbor plan and prior to
                             application of this safe harbor plan exception,
                             twenty percent (20%) or less of the Company's
                             Employees other than highly compensated employees,
                             as defined in Section 414(q) of the Code, are
                             leased employees.  For this purpose, a "safe
                             harbor plan" is a money purchase pension plan
                             which provides immediate participation, full and
                             immediate vesting, and a nonintegrated
                             contribution formula equal to at least ten
                             percent (10%) of the employee's compensation
                             without regard to employment by the leasing
                             organization on a specified date.  The safe harbor
                             plan must determine the ten percent (10%)
                             contribution on the basis of compensation as
                             defined in Section 415(c)(3) of the Code plus
                             amounts contributed pursuant to a salary
                             redirection agreement which are excludable from
                             the Employee's gross income under Sections 125
                             (relating to a cafeteria plan), 402(a)(8)
                             (relating to an arrangement under Section 401(k)),
                             402(h) (relating to a simplified employee pension
                             plan) or 403(b) (relating to a tax sheltered
                             annuity) of the Code.

                   (ii)      The Committee shall apply this Section 2.18 in a
                             manner consistent with Sections 414(n) and 414(o)
                             of the Code and the Treasury Regulations
                             promulgated thereunder.  The Committee shall
                             reduce a leased employee's allocation of Company
                             contributions under this Plan by the leased
                             employee's allocation under the leasing
                             organization's plan, but only to the extent that
                             the allocation is attributable to the leased
                             employee's service provided to the Company.  The
                             leasing organization's plan must be a money
                             purchase pension plan which would satisfy the
                             definition of a safe harbor plan under paragraph
                             (i).

         2.19 "Employment Commencement Date" means the date on which an Employee
is first credited with an Hour of Service under the Plan.

         2.20 "ERISA" means the Employee Retirement Income Security Act of 1974,
as amended from time to time. References to a Section of ERISA shall include
that Section and any comparable Section or Sections of any future legislation
that amends, supplements or supersedes said section.

         2.21 "Fiduciary" means the Company, the Trustee, the Committee and any
individual, corporation, firm or other entity which assumes responsibility of
the Company, the Trustee or the Committee respecting management of the Plan or
the disposition of its assets.

         2.22 "Highly Compensated Employee" means an Employee who, during the
Plan Year or during the preceding twelve (12) month period:

         (a)       Is a more than five percent (5%) owner of the Company
                   (applying the constructive ownership rules of Section 318 of
                   the Code and applying the principles of Section 318 of the
                   Code for an unincorporated entity);

         (b)       Has Compensation in excess of Seventy-Five Thousand
                   Dollars ($75,000), as adjusted by the Adjustment
                   Factor;

         (c)       Has Compensation in excess of Fifty Thousand Dollars
                   ($50,000), as adjusted by the Adjustment Factor and is part
                   of the top-paid twenty percent (20%) group of employees
                   (based on Compensation for the relevant year);

         (d)       Has Compensation in excess of fifty percent (50%) of the
                   dollar amount prescribed in Section 415(b)(1)(A) of the Code
                   (relating to Defined Benefit Plans) and is an officer of the
                   Company.

         If the Employee satisfies the definition in subsection (b), (c) or (d)
in the Plan Year but not during the preceding twelve (12) month period and does
not satisfy subsection (a) in either period, the Employee is a Highly
Compensated Employee only if he is one of the one hundred (100) most highly
compensated Employees for the Plan Year. For purposes of subsection (d), no more
than fifty (50) Employees (or, if lesser, the greater of three (3) Employees or
ten percent (10%) of the Employees) shall be treated as officers. If no Employee
satisfies the Compensation requirement in subsection (d) for the relevant year,
the Committee will treat the highest paid officer as satisfying subsection (d)
for that year. For purposes of determining the number of officers taken into
account under subsection (d), Employees described in Section 414(q)(8) of the
Code shall be excluded.

         For purposes of this Section 2.22, "Compensation" means Compensation as
defined in Section 415(c)(3)(A) of the Code except any exclusions from
Compensation and Compensation shall include (i) elective deferrals under an
arrangement described in Section 401(k) of the Code or under a simplified
employee pension plan maintained by the Company and (ii) amounts paid by the
Company which are not currently includable in the Employee's gross income
because of Section 125 (cafeteria plans) or 403(b) (tax-sheltered annuities) of
the Code. The Committee shall make the determination of who is a Highly
Compensated Employee, including the determinations of the number and identity of
the top-paid twenty percent (20%) group, the top one hundred (100) paid
Employees, the number of officers includable in subsection (d) and the relevant
Compensation, consistent with Section 414(q) of the Code and Treasury
Regulations promulgated thereunder. The Company may make a calendar year
election to determine the Highly Compensated Employees for the Plan Year, as
prescribed by Treasury Regulations. A calendar year election must apply to all
plans and arrangements of the Company. For purposes of applying any
nondiscrimination test required under the Plan or under the Code, in a manner
consistent with applicable Treasury Regulations, the Committee will not treat as
a separate Employee a Family Member of a Highly Compensated Employee described
in subsection (a) of this Section 2.22, or a Family Member of one of the ten
(10) Highly Compensated Employees with the greatest Compensation for the Plan
Year, but will treat the Highly Compensated Employee and all Family Members as a
single Highly Compensated Employee. This aggregation rule applies to a Family
Member even if that Family Member is a Highly Compensated Employee without
family aggregation. For purposes of this Section 2.22 and Section 2.13, Family
Member means, with respect to any Employee, such Employee's spouse and lineal
ascendants or descendants and the spouses of such lineal ascendants or
descendants.

         The term "Highly Compensated Employee" also includes any former
Employee who separated from Service (or has a deemed Separation from Service, as
determined under Treasury Regulations) prior to the Plan Year, performs no
Service for the Company during the Plan Year, and was a Highly Compensated
Employee either for the separation year or any Plan Year ending on or after his
fifty-fifth (55th) birthday.

         The preceding provisions of this Section 2.22 shall be effective for
Plan Years commencing after December 31, 1986.

         2.23 "Hour of Service" means:

         (a)       Each Hour of Service for which the Company, either
                   directly or indirectly, pays an Employee, or for which
                   the Employee is entitled to payment, for the
                   performance of duties.  The Committee shall credit
                   Hours of Service under this subsection (a) to the
                   Employee for the computation period in which the
                   Employee performs the duties, irrespective of when
                   paid;

         (b)       Each Hour of Service for back pay, irrespective of
                   mitigation of damages, to which the Company has agreed
                   or for which the Employee has received an award.  The
                   Committee shall credit Hours of Service under this
                   subsection (b) to the Employee for the computation
                   period(s) to which the award or the agreement pertains
                   rather than for the computation period in which the
                   award, agreement or payment is made; and

         (c)       Each Hour of Service for which the Company, either
                   directly or indirectly, pays an Employee, or for which
                   the Employee is entitled to payment (irrespective of
                   whether the employment relationship is terminated), for
                   reasons other than for the performance of duties during
                   a computation period, such as leave of absence,
                   vacation, holiday, sick leave, illness, incapacity
                   (including disability), layoff, jury duty or military
                   duty.  The Committee will credit no more than five
                   hundred and one (501) Hours of Service under this
                   subsection (c) to an Employee on account of any single
                   continuous period during which the Employee does not
                   perform any duties (whether or not such period occurs
                   during a single Plan Year).  The Committee shall credit
                   Hours of Service under this subsection (c) in
                   accordance with the rules of subparagraphs (b) and (c)
                   of Section 2530.200b-2 of Department of Labor
                   Regulations, which the Plan, by this reference,
                   specifically incorporates in full within this
                   subsection (c).

         The Committee shall not credit an Hour of Service under more than one
of the above subsections. A computation period for purposes of this Section 2.23
is the Plan Year, Year of Service period, Break in Service period or other
period, as determined under the Plan provision for which the Committee is
measuring an Employee's Hours of Service. The Committee will resolve any
ambiguity with respect to the crediting of an Hour of Service in favor of the
Employee.

         The Committee shall credit every Employee with Hours of Service on the
basis of the "actual" method. For purposes of the Plan, the "actual" method
means the determination of Hours of Service from records of hours worked and
hours for which the Company makes payment or for which payment is due from the
Company.

         Nothing in this Section 2.23 shall be construed to alter, amend,
modify, invalidate, impair or supersede any law of the United States or any rule
or regulation issued under any such law. The nature and extent of any credit for
Hours of Service under this Section 2.23 shall be determined under such law.

           2.24 "Inactive Participant" means any Employee or former Employee who
has ceased to be a Participant and on whose behalf an account is maintained
under the Plan.

           2.25 "Key Employee" means an Employee or former Employee (including
the Beneficiaries of such Employees) who at any time during the Plan Year or any
of the four (4) preceding Plan Years is:

           (a)       An Employee or former Employee (and the beneficiaries of
                     such Employee) who was an officer of the Company and such
                     individual's annual compensation exceeded fifty percent
                     (50%) of the dollar limitation in effect under Section
                     415(b)(1)(A) of the Code;

           (b)       One (1) of the ten (10) Employees having annual
                     compensation from the Company of more than the
                     limitation in effect under Section 415(c)(1)(A) of the
                     Code and owning (or considered as owning within the
                     meaning of Section 318 of the Code) one (1) of the ten
                     (10) largest interests in the Company if such Employee's
                     compensation exceeds one hundred percent (100%) of the
                     dollar limitation in effect under Section 415(c)(1)(A)
                     of the Code;

           (c)       A five percent (5%) owner of the Company, as described
                     in Section 416(i)(1)(B)(i) of the Code; or

           (d)       A one percent (1%) owner of the Company, as described in
                     Section 416(i)(1)(B)(ii) of the Code, having an annual
                     compensation from the Company of more than One Hundred
                     Fifty Thousand Dollars ($150,000.00).

           For purposes of this Section 2.25, compensation means compensation as
defined in Section 415(c)(1)(A) of the Code, but including amounts contributed
by the Company pursuant to a salary reduction agreement which are excludable
from the Employee's gross income under Section 402(a)(8) of the Code (relating
to an arrangement under Section 401(k)), Section 402(h) of the Code (relating to
a simplified employee pension) or Section 403(b) of the Code (relating to a
tax-sheltered annuity).

           For purposes of subsection (a), no more than fifty (50) Employees
(or, if lesser, the greater of three (3) or ten percent (10%) of the Employees)
shall be treated as officers. For purposes of subsection (b), if two (2)
Employees have the same interest in the Company the Employee having greater
annual compensation from the Company shall be treated as having a larger
interest. Such term shall not include any officer or employee of an entity
referred to in Section 414(d) of the Code. For purposes of determining the
number of officers taken into account under subsection (a), Employees described
in Section 418(q)(8) of the Code shall be excluded. As used herein, "Employer"
means the Company and any Affiliated Company.

           2.26 "Limitation Year" means the Plan Year, unless the Board
specifies another twelve (12) consecutive month period through adoption of
appropriate resolutions in which case the new Limitation Year must begin on a
date within the Limitation Year for which the Company makes the amendment,
creating a short Limitation Year.

           2.27 "Loan" means any loan, extension of credit or purchase money
transaction, as described in Section 4975(d)(1) of the Code and Treasury
Regulation Section 54.4975-7(b)(1)(ii), to the Trustee made or guaranteed by a
disqualified person (within the meaning of Section 4975(e)(2) of the Code),
including, but not limited to, a direct loan of cash, a purchase money
transaction, an assumption of an obligation of the Trustee, an unsecured
guarantee or the use of assets of a disqualified person (within the meaning of
Section 4975(e)(2) of the Code) as collateral for a loan.

           2.28 "Maximum Permissible Amount" means the lesser of: (i) Thirty
Thousand Dollars ($30,000) (or if greater, one-fourth (1/4) of the defined
benefit dollar limitation prescribed by Section 415(b)(1)(A) of the Code as in
effect for the Limitation Year) or (ii) twenty-five percent (25%) of the
Participant's compensation as defined in Section 415(c)(3) of the Code. The
compensation limitation referred to in (ii) of the preceding sentence shall not
apply to any contribution for medical benefits (within the meaning of Section
419A(f)(2) of the Code) after Separation from Service which is otherwise treated
as an Annual Addition or any amount otherwise treated as an Annual Addition
under Section 415(l)(2) of the Code.

           If there is a short Limitation Year because of a change therein, the
Committee will multiply the Thirty-Thousand Dollar ($30,000) (as adjusted)
limitation by the following fraction:

                    Number of months in short Limitation Year
                                       12

           The preceding provisions of this Section 2.28 shall be effective for
Plan Years commencing after December 31, 1986.

           2.29 "Non-Highly Compensated Employee" means an Employee of the
Company who is neither a Highly Compensated Employee nor a Family Member.

           2.30 "Other Investments Account" means an account of a Participant
which is credited with his share of the net income (or loss) of the Trust and
Company contributions and forfeitures in other than Company Stock, and which is
debited with payments made to pay for Company Stock.

           2.31 "Participant" means an Employee who becomes a
Participant under the provisions of Section 3.1 of the Plan.

           2.32 "Plan" means the Monroe Bancorp Employee Stock Ownership
Plan.

           2.33 "Plan Year" means the twelve (12) month period beginning on
January 1 and each anniversary thereof.

           2.34 "Qualified Participant" means a Participant who has both
attained age fifty-five (55) and who has completed at least ten (10) years of
participation in the Plan.

           2.35 "Qualified Election Period" means the six (6) Plan Year period
commencing with the Plan Year during which the Participant attains age
fifty-five (55) and ends with the fifth (5th) succeeding Plan Year. Provided,
however, if a Participant has not completed ten (10) years of participation in
the Plan by the end of the Plan Year in which the Participant attains age
fifty-five (55), the Qualified Election Period shall begin with the Plan Year in
which the Participant completes ten (10) years of participation in the Plan and
ends with the fifth (5th) succeeding Plan Year.

           The preceding provisions of Sections 2.34 and Section 2.35; shall be
effective with respect to Company Stock acquired by the Plan after December 31,
1986.

           2.36 "Related Plan" means any other Defined Contribution Plan
maintained by the Company or by an Affiliated Company.

           2.37 "Service", except as it may be disregarded under the
provisions of Articles III or VII, means the following:

           (a)       "Eligibility Service" means the years which are credited to
                     an Employee for the purpose of determining eligibility for
                     participation under the Plan, as described in Section 3.1.

           (b)       "Vesting Service" means the years which are credited to a
                     Participant for the purpose of determining his vested
                     percentage in his Company Stock and Other Investments
                     Accounts and eligibility for various benefits under the
                     Plan, as described in Articles VII and VIII.

           (c)       "Separation from Service" means a separation from
                     employment with the Employer.

           For purposes of determining an Employee's eligibility to participate
under the Plan and for determining his nonforfeitable right to his Company Stock
and Other Investments Accounts, years of Service and Breaks in Service (as
defined in Section 2.6) shall initially be based on the period beginning on the
Employee's Employment Commencement Date and thereafter shall be based on each
Plan Year (which includes the first anniversary of the Employee's Employment
Commencement Date) beginning after the Employee's Employment Commencement Date.

           2.38 "Top Heavy Provisions" The following provisions shall become
effective in any Plan Year in which the Plan is determined to be a Top Heavy
Plan.

           (a)       Determination of Top Heavy.  The Plan will be considered
                     a Top-Heavy Plan for the Plan Year if (1) as of the last
                     day of the preceding Plan Year (the "Determination
                     Date"), the sum of the present value, determined on the
                     Determination Date, of the accounts under the Plan (but
                     not including any allocations to be made as of such last
                     day of the Plan Year except contributions actually made
                     on or before that date) of Participants who are Key
                     Employees exceed sixty percent (60%) of the sum of the
                     present value, determined on the Determination Date, of
                     the accounts under the Plan
                     (but not including any allocations to be made as of such
                     last day of the Plan Year except contributions actually
                     made on or before that date) of all Participants (the
                     "60% Test"); or (2) the Plan is part of a Required
                     Aggregation Group and the Required Aggregation Group is
                     Top-Heavy.  However, and notwithstanding the results of
                     the sixty percent (60%) Test, the Plan shall not be
                     considered a Top-Heavy Plan for any Plan Year in which
                     the Plan is part of a Required or Permissive Aggregation
                     Group which is not top-heavy.  For the first Plan Year
                     that the Plan is in effect, the determination of whether
                     the Plan is Top-Heavy shall be made as of the last day
                     of such Plan Year and, in applying the Top-Heavy
                     determination for such first Plan Year, the accounts of
                     all Participants shall be deemed to include any
                     contributions made thereto after the Determination Date
                     that are allocated as of a date in such first Plan Year.
                     The Top-Heavy ratio shall be computed in accordance with
                     Section 416(g) of the Code and the Treasury Regulations
                     promulgated thereunder.

                   (i)         If the Company maintains another Defined Benefit
                               Plan or Defined Contribution Plan (including a
                               simplified employee pension plan), or maintained
                               another such plan which is now terminated, this
                               Plan is Top-Heavy only if it is part of the
                               Required Aggregation Group, and the Top Heavy
                               ratio for the Required Aggregation Group and for
                               the Permissive Aggregation Group, if any, each
                               exceeds sixty percent (60%).  The Committee will
                               calculate the Top Heavy ratio taking into account
                               all plans within the Required Aggregation Group.
                               To the extent the Committee must take into
                               account distributions to a Participant, the
                               Committee shall include distributions from a
                               terminated plan which would have been part of the
                               Required Aggregation Group if it were in
                               existence on the Determination Date.  The
                               Committee will calculate the present value of
                               accrued benefits under Defined Benefit Plans or
                               simplified employee pension plans included within
                               the group in accordance with the terms of those
                               plans, Section 416 of the Code and the Treasury
                               Regulations promulgated thereunder.  If a
                               Participant in a Defined Benefit Plan is a non-
                               key Employee, the Committee will determine his
                               accrued benefit under the accrual method, if any,
                               which is applicable uniformly to all Defined
                               Benefit Plans maintained by the Employer or, if
                               there is no uniform method, in accordance with
                               the slowest accrual rate permitted under the
                               fractional rule accrual method described in
                               Section 411(b)(1)(C) of the Code.  To calculate
                               the present value of benefits under a Defined
                               Benefit Plan, the Committee will use the
                               actuarial assumptions (interest and mortality
                               only) prescribed by the Defined Benefit Plan(s)
                               to value benefits for top heavy purposes.  If an
                               aggregated plan does not have a Valuation Date
                               coinciding with the Determination Date, the
                               Committee must value the accrued benefits in the
                               aggregated plan as of the most recent Valuation
                               Date falling within the twelve (12) month period
                               ending on the Determination Date except as
                               Section 416 of the Code and applicable Treasury
                               Regulations require for the first (1st) and
                               second (2nd) plan year of a Defined Benefit Plan.
                               The Committee will calculate the top heavy ratio
                               with reference to the Determination Dates that
                               fall within the same calendar year.

                   (ii)        In determining whether or not the Plan is a
                               Top-Heavy Plan, the account balances and accrued
                               benefits of a Participant who has not performed
                               Service for the Company during the five (5) year
                               period ending on the Determination Date shall be
                               disregarded.

                   (iii)       For purposes of this Section 2.38, "Required
                               Aggregation Group" shall mean:  (A) each plan of
                               the Company in which a Key Employee is a
                               Participant and (B) each other plan of the
                               Company which enables any plan described in (A)
                               to meet the requirements of Section 401(a)(4) or
                               410 of the Code.  Required Aggregation Group
                               shall also include each terminated plan of the
                               Company if such plan was maintained within the
                               last five (5) years ending on the Determination
                               Date for the Plan Year in question and would, but
                               for the fact that it terminated, be part of a
                               Required Aggregation Group for such Plan Year.
                               "Permissive Aggregation Group" shall mean the
                               Required Aggregation Group combined with any
                               other plan maintained by the Company, providing
                               the resulting combination group would continue to
                               satisfy the requirements of Section 401(a)(4) and
                               410 of the Code once such other plan was taken
                               into account.  The Committee shall determine
                               which plan or plans maintained by the Company
                               shall be taken into account in determining the
                               Permissive Aggregation Group.

         (b)       For any Plan Year during which the Plan is deemed to
                   constitute a Top-Heavy Plan, the Company contributions for
                   such Plan Year shall be allocated as follows:

                   (i)       Each Participant as of the Determination Date and
                             who is not a participant in another plan
                             maintained by the Company qualified under Section
                             401(a) of the Code shall receive a minimum
                             "Contribution" equal to the lesser of: (i) three
                             percent (3%) of the Participant's compensation
                             (within the meaning of Section 415 of the Code)
                             for the Plan Year, or (ii) the highest percentage
                             of compensation (within the meaning of Section 415
                             of the Code) contributed on behalf of a Key
                             Employee.  Such Contribution shall be made on
                             behalf of all Participants who are Employees and
                             who have not incurred a Separation from Service at
                             the end of the Plan Year in which the Contribution
                             shall be made.  Participants who have become
                             Participants but who subsequently failed to
                             complete one thousand (1,000) Hours of Service at
                             the end of the Plan Year shall be considered as
                             employees covered by the Plan for purposes of this
                             paragraph (i).  For purposes of this
                             paragraph (i), "Contribution" shall include (A)
                             Company contributions and forfeitures, and shall,
                             effective for Plan Years before January 1, 1989,
                             include salary reduction contributions under
                             Section 401(k) of the Code (and shall exclude such
                             contributions for plan Years commencing after
                             December 31, 1988; (B) amounts paid by the Company
                             to provide social security benefits; and (C)
                             qualified nonelective contributions described in
                             Section 401(m)(4)(C) of the Code.  Such
                             contribution (to the extent required to be
                             nonforfeitable under subsection (c)) shall not be
                             forfeitable under Section 411(a)(3)(B) or
                             411(a)(3)(D) of the Code.

             (ii)            If Employees of the Company are covered under a
                             Defined Benefit Plan maintained by the Company and
                             both this Plan and the Defined Benefit Plan are
                             Top-Heavy Plans in any Plan Year, all non-key
                             Employees covered by both the Defined Benefit Plan
                             and this Plan shall receive, for all such Plan
                             Years, the minimum benefit prescribed by this Plan.
                             If Employees of the Company are covered by another
                             Defined Contribution Plan maintained by the Company
                             and both this Plan and the other Defined
                             Contribution Plan are Top-Heavy Plans in any Plan
                             Year, all non-key Employees covered by both the
                             other Defined Contribution Plan and this Plan shall
                             receive, for all such Plan Years, the minimum
                             benefit prescribed by this Plan.

                             Provided, however, such other Defined Contribution
                             Plan shall meet the top-heavy vesting requirement.

         (c)       Notwithstanding the provisions of Section 7.7, for any Plan
                   Year in which the Plan is a Top-Heavy Plan, such
                   Participant's vested percentage in his Company Stock and
                   Other Investment Accounts shall not be less than the
                   percentage determined in accordance with the following table:

                      Years of           Vested           Forfeited
                   Vesting Service     Percentage         Percentage

                        0-3                 0%               100%
                     3 or more            100%                 0%

                     (i)         Subject to the provisions of Section 7.7, if
                                 the Plan becomes a Top-Heavy Plan and
                                 subsequently ceases to be such, the above
                                 vesting schedule shall continue to apply, at
                                 the option of the affected Participant, in
                                 determining the vested percentage of any
                                 Participant who had at least six (6) years
                                 of Vesting Service as of the last day in the
                                 last Plan Year in which the Plan was a
                                 Top-Heavy Plan.  For all other Participants,
                                 said vesting schedule shall continue to apply
                                 only to their Company Stock and Other
                                 Investments Accounts as of such last day of
                                 the Plan Year.

                     (ii)        Notwithstanding the provisions of subsection
                                 (c) and paragraph (i) above, subsection (c)
                                 shall not apply to the account balance of any
                                 Employee who does not have at least one (1)
                                 Hour of Service after the Plan has initially
                                 become Top-Heavy and such Employee's vested
                                 account balance shall be determined without
                                 regard to subsection (c).

                     The provisions of this subsection (c) shall be applicable
                     for Plan Years commencing on and after January 1, 1989.

         (d)         For any Plan Year in which the Plan is a Top-Heavy Plan,
                     Section 7.6 shall be read by substituting the number "1.00"
                     for the number "1.25" wherever it appears therein except
                     such substitution shall not have the effect of reducing any
                     benefit accrued under a Defined Benefit Plan prior to the
                     first day of the Plan Year in which this provision becomes
                     applicable.

         (e)         For purposes of this Section 2.38, a non-key Employee
                     is any Employee who is not a Key Employee.

         2.39 "Total and Permanent Disability" (or Totally and Permanently
Disabled) means a disability as determined for purposes of the Federal Social
Security Act which qualifies the Participant for permanent disability insurance
payments in accordance with such Act. Disability for purposes of the Plan shall
not include any disability which is incurred while the Participant is on leave
of absence because of military or similar service and for which a governmental
pension is payable. The Committee may require subsequent proof of continued
Disability, prior to the Participant's sixty-fifth (65th) birthday, at intervals
of not less than six (6) months. A minimal level of earnings in restricted
activity during any period of disability shall not disqualify a Participant from
receiving disability benefits for such period if the disabled Participant
receives disability benefits under the Social Security Act for the same period.

         2.40 "Total Distribution" means a distribution to a Participant or
Beneficiary, within one (1) taxable year of the recipient, of the entire balance
to the credit of the Participant's accounts under the Plan.

         2.41 "Trust" or "Trust Fund" means all money, securities and other
property held under the Trust Agreement for the purposes of the Plan.

         2.42 "Trust Agreement" means the agreement entered into between the
Company and the Trustee pursuant to Section 11.4.

         2.43 "Trustee" means such individual(s) or financial institution as
shall be designated in the Trust Agreement to hold in trust any assets of the
Plan for the purpose of providing benefits under the Plan, and shall include any
successor to the Trustee designated thereunder.

         2.44 "Valuation Date" means the last day of December of each Plan Year,
as of which date the Trust Fund shall be valued at fair market value. The
Committee may from time to time value the Trust Fund as of any other date or
dates as it deems desirable in its discretion.

                                   ARTICLE III

                                  PARTICIPATION

         3.1 Eligibility and Participation

         (a)       Conditions of Eligibility.

                   Each Employee who was a Participant as of the Effective Date
                   shall continue to participate in accordance with the
                   provisions of this amended and restated Plan.

                   Any Employee who has completed one (1) year of Eligibility
                   Service and has attained the age of twenty-one (21) shall be
                   eligible to become a Participant effective as of the date
                   specified in subsection (b).

         (b)       Date of Participation.

                   Each Employee shall become a Participant on the first Plan
                   Entry Date coincident with or next following the date on
                   which the Employee satisfies the requirements of subsection
                   (a). The Plan Entry Dates shall fall on January 1 and July 1
                   of each Plan Year.

                   For purposes of this Section 3.1, a year of Eligibility
                   Service shall initially be based on the period of twelve (12)
                   consecutive months following the Employee's Employment
                   Commencement Date during which the Employee is credited with
                   at least one thousand (1,000) Hours of Service and thereafter
                   shall be based on each Plan Year (which includes the first
                   anniversary of the Employee's Employment Commencement Date)
                   beginning after the Employee's Employment Commencement Date
                   during which the Employee is credited with at least one
                   thousand (1,000) Hours of Service.

         (c)       Participation in the Plan shall continue until terminated
                   following retirement, Total and Permanent Disability, death
                   or other Separation from Service with the Company, except as
                   otherwise provided in Section 7.7.

         (d)       Employees who are included in a unit of employees
                   covered by an agreement which the Secretary of Labor
                   finds to be a collective bargaining agreement between
                   employee representatives and the Company, if there is
                   evidence that retirement benefits were the subject of
                   good faith bargaining between such employee
                   representatives and the Company, shall not be eligible
                   to participate in the Plan.  Provided, however, in the
                   event an employee described in the preceding sentence
                   ceases to be covered by such a collective bargaining
                   agreement, then such Employee shall become a
                   Participant on the first Plan Entry Date, as defined in
                   Section 3.1(b), coinciding with or immediately
                   following the date such Employee ceases to be covered
                   by such collective bargaining agreement, after which
                   such Employee satisfies the eligibility requirements
                   specified in Section 3.1(a).  For purposes of this
                   subsection (d), in determining such Employee's
                   Eligibility Service, his years of Eligibility Service
                   commencing on his Employment Commencement Date shall be
                   credited to him.

         (e)       Self-employed individuals shall not be eligible to
                   participate in this Plan.

         (f)       In the case of a Participant who does not have a
                   nonforfeitable right to his account balance derived
                   from Company contributions, years of Eligibility
                   Service before a period of consecutive one-year Breaks
                   in Service will not be taken into account in computing
                   Eligibility Service if the number of consecutive one-
                   year Breaks in Service in such period equals or exceeds
                   the greater of five (5) or the aggregate number of
                   years of Eligibility Service.  Such aggregate number of
                   years of Eligibility Service will not include any years
                   of Eligibility Service disregarded under the preceding
                   sentence by reason of prior Breaks in Service.

         (g)       An Inactive Participant who did not have a
                   nonforfeitable right to any portion of his Individual
                   Account balance derived from Company contributions at
                   the time of Separation from Service will be considered
                   a new Employee, for eligibility purposes, if the number
                   of consecutive one year Breaks in Service equals or
                   exceeds the greater of five (5) or the aggregate number
                   of years of Eligibility Service before such Breaks in
                   Service.  If such Inactive Participant's years of
                   Eligibility Service before Separation from Service may
                   not be disregarded pursuant to the preceding sentence,
                   such Inactive Participant shall participate immediately
                   upon reemployment.

         3.2 Plan Binding. Upon becoming a Participant, a Participant shall be
bound then and thereafter by the terms of this Plan and the Trust Agreement,
including all amendments to the Plan and the Trust Agreement made in the manner
herein authorized.

         3.3 Reemployment. A terminated Employee who is reemployed
by the Company shall become a Participant in accordance with
whichever of subsection (a) or (b) is applicable.

         (a)       A terminated Participant who later resumes his employment
                   with the Company shall again become a Participant on his
                   reemployment date.

         (b)       An Employee who terminated employment with the Company
                   prior to becoming a Participant pursuant to Section
                   3.1, and who later resumes his employment with the
                   Company shall become a Participant on the latter of (i)
                   his reemployment date, provided he has met the
                   eligibility requirements contained in Section 3.1, or
                   (ii) the date he would have become a Participant had he
                   not terminated employment.

         3.4 Beneficiary Designation. Subject to the provisions of Section 2.4,
upon commencing participation, each Participant shall designate a Beneficiary on
forms furnished by the Committee. Such Participant may then from time to time
change his designated Beneficiary by written notice to the Committee and, upon
such change, the rights of all previously designated Beneficiaries to receive
any benefits under this Plan shall cease. If, at the time of a Participant's
death while benefits are still outstanding, his named Beneficiary does not
survive him, the benefits shall be paid to his named contingent Beneficiary. If
a deceased Participant is not survived by either a named Beneficiary or
contingent Beneficiary (or if no Beneficiary was effectively named), his benefit
shall be paid in a single sum to the person or persons in the first of the
following classes of successive preference beneficiaries then surviving: the
Participant's (a) widow or widower, (b) children, (c) grandchildren, (d)
parents, (e) brothers and sisters, (f) executors and administrators. If a
Beneficiary or contingent Beneficiary is living at the death of the Participant,
but such person dies prior to receiving the Participant's death benefit, such
death benefit shall be paid in a single sum to the estate of such deceased
Beneficiary or contingent Beneficiary.

         3.5 No Credit Upon Acquisition and Recognition of Past
Service.

         (a)       If the Company acquires an entity or division or other
                   section of an entity under an arrangement whereby the
                   acquired entity is not or ceases to be a separate
                   entity and is merged into the Company or becomes a
                   division, subsidiary, or an affiliate of the Company or
                   an Affiliated Company, the Employees of the acquired
                   entity shall be considered as new employees of the
                   Company for purposes of eligibility and vesting on the
                   effective date of the acquisition and shall become
                   Participants hereunder in accordance with Section 3.1.
                   Notwithstanding the preceding sentence, the Board of
                   Directors of the Company may, in its sole discretion,
                   provide for recognition of employment (including, if
                   desired, compensation) by the acquired entity prior to
                   the effective date of the acquisition for purposes of
                   eligibility and/or vesting.  Recognition of employment
                   under this Section 3.5 shall be evidenced by resolution
                   of the Board of Directors of the Company and such other
                   documentation and
                   records as the Committee shall specify.  In the case of
                   an individual whose employment is to be recognized
                   under this Section 3.5, the Committee may require from
                   the individual or the acquired entity such evidence of
                   employment as the Committee deems reasonable and
                   proper.

         (b)       Notwithstanding the provisions of subsection (a), all
                   service prior to the Effective Date with the Company
                   shall be recognized for purposes of eligibility to
                   participate under Section 3.1 and for purposes of
                   vesting under Section 7.7, to the extent such Service
                   would be credited under the terms of the Plan (as in
                   effect on the Effective Date) for eligibility and
                   vesting purposes if the Plan were in existence in such
                   prior years.

                                   ARTICLE IV

                                  CONTRIBUTIONS

         4.1 Company Contributions.

         (a)       For each Plan Year, Company contributions under the
                   Plan, if any, may be paid to the Trust in such amounts
                   (or under such formula) and at such times as may be
                   determined by the Board.  Company contributions under
                   the Plan for a Plan Year may be paid during the Plan
                   Year and shall in any event be paid not later than the
                   due date for filing the Company's Federal income tax
                   return for that year, including any extensions of such
                   due date.  Except as otherwise permitted under Section
                   404(a)(9) of the Code (concerning contributions to the
                   Plan to repay the principal and interest on a Loan),
                   Company contributions under the Plan for any Plan Year
                   shall not be paid to the Trust in amounts which would
                   exceed fifteen percent (15%) of the Compensation of all
                   Participants entitled to share in allocations thereof
                   for that Plan Year, including any carryover amount from
                   previous Plan Years allowable by Section 404(a)(3)(A)
                   of the Code.  In no event shall Company contributions
                   in any Limitation Year exceed an amount which would
                   cause:  (a) Annual Additions to the accounts of any
                   Participant to exceed the Maximum Permissible Amount
                   for that Limitation Year (except as provided in
                   Sections 7.5 and 7.6); or (b) the sum of the Defined
                   Benefit Plan fraction (as defined in Section 7.6) and
                   the Defined Contribution Plan fraction (as defined in
                   Section 7.6) to exceed one (1.0) for that Limitation
                   Year.

         (b)       Company contributions may be paid to the Trust in cash
                   or in whole shares of Company Stock, as determined by
                   the Board; provided that Company contributions shall be
                   paid in cash in such amounts, and at such times
                   (subject to the limitations described in Sections 7.5
                   and 7.6), as needed to provide the Trust with funds
                   sufficient to pay in full when due any principal and
                   interest payments required by a Loan incurred by the
                   Trustee pursuant to Article VI to finance the
                   acquisition of Company Stock, except to the extent such
                   principal and interest payments have been satisfied by
                   the Trustee from cash dividends paid to it with respect
                   to Company Stock.

         (c)       All Company contributions for a Plan Year shall be allocated
                   to the Company Contribution Account when paid. As of the last
                   day of each Plan Year amounts in the Company Contribution
                   Account, including amounts contributed after such last day
                   under subsection (a) above shall be allocated to
                   Participants' accounts as provided in Article VII.

         (d)       No Participant shall be required or permitted to make
                   contributions to the Plan or Trust.

         4.2 Exclusive Benefit of Employees. All contributions made pursuant to
the Plan shall be held by the Trustee in accordance with the terms of the Trust
Agreement for the exclusive benefit of those Employees who are Participants
under the Plan, and their Beneficiaries, and shall be applied to provide
benefits under the Plan and to pay reasonable expenses of administration of the
Plan and the Trust, to the extent that such expenses are not otherwise paid. At
no time prior to the satisfaction of all liabilities with respect to such
Employees and their Beneficiaries shall any part of the Trust Fund (other than
such part as may be required to pay reasonable administration expenses and
taxes) be used for, or diverted to, purposes other than for the exclusive
benefit of such Employees and their Beneficiaries. However, without regard to
the provisions of this Section 4.2:

         (a)       All contributions under the Plan are conditioned on initial
                   qualification of the Plan under Section 401(a) of the Code,
                   and if the Plan does not so qualify the Trustee shall, upon
                   written request of the Company, return to the Company the
                   amount of such contribution within one (1) calendar year
                   after the date that qualification of the Plan is denied;

         (b)       All contributions are conditioned upon the deductibility of
                   the contribution under Section 404 of the Code, and, to the
                   extent the deduction is disallowed, the Trustee shall, upon
                   written request of the Company, return the contribution (to
                   the extent disallowed) to the Company within one (1) year
                   after the date the deduction is disallowed; and

         (c)       If a contribution or any portion thereof is made by the
                   Company by a mistake of fact, the Trustee shall, upon written
                   request of the Company, return the contribution or such
                   portion to the Company within one (1) year after the date of
                   payment to the Trustee.

The Trustee shall not increase the amount of the Company contribution returnable
under this Section 4.2 for any income attributable to such contribution;
however, the Trustee shall decrease the Company contribution returnable by any
losses allocable thereto. The Trustee may require the Company to furnish it with
whatever evidence the Trustee considers reasonably necessary to enable the
Trustee to confirm the amount the Company has requested to be returned as
properly returnable under the applicable provisions of ERISA.

                                    ARTICLE V

                           INVESTMENT OF TRUST ASSETS

         5.1 Investments. Subject to the provisions of Article X, The Trust Fund
will be invested primarily in Company Stock. The Committee may direct the
Trustee to incur Debt from time to time to finance the acquisition of Company
Stock by the Trust or otherwise. The Trust Fund may be used to acquire shares of
Company Stock from Company shareholders (including former Participants) or from
the Company. Subject to the provisions of Article X, the Trustee may also invest
the Trust Fund in savings accounts, certificates of deposit, high-grade
short-term securities, equity stock, bonds, or other investments desirable for
the Trust, or the Trust Fund may be held in cash or such other investments as
are provided in the Trust Agreement. Subject to the provisions of Article X, all
investments will be made by the Trustee upon the direction of the Committee;
provided, however, the Committee shall have the authority to delegate all or any
part of its investment discretion under the Plan to the Trustee or to an
investment manager, in a written instrument which, to be effective and binding
upon the Trustee or to an investment manager, shall be accepted in writing by
the Trustee or investment manager. The Committee may direct that the entire
Trust Fund assets be invested and held in Company Stock.

         5.2 Purchase of Company Stock. All purchases of Company Stock by the
Trust will be made at a price, or at prices, which, in the judgment of the
Committee, do not exceed the fair market value of such Company Stock. The
determination of fair market value of Company Stock for all purposes under the
Plan shall be made by the Committee which shall consider the following criteria:

         (a)       Any current and historical practices which have been
                   consistently and uniformly utilized to value Company Stock in
                   sales transactions between the Company and the stockholders,
                   or among and between stockholders;

         (b)       Any agreements, restrictions or limitations with
                   respect to or imposed upon the sale or transfer of
                   Company Stock which establish or stipulate the price at
                   which the Company or Trust may or must purchase such
                   stock under the provisions of the Articles of
                   Incorporation or By-Laws of the Company, or written
                   agreements, including, but not limited to, buy-sell or
                   redemption agreements; provided the same or similar
                   restrictions are applicable to substantially all of the
                   outstanding Company Stock and are uniformly and
                   consistently complied with;

         (c)       Such other information concerning the Company and its
                   condition and prospects, financial and otherwise,
                   generally used in the determination of the fair market
                   value of corporate stock of comparable public or
                   private companies engaged in the same or similar
                   industries, by independent investment analysts
                   recognized as having expertise in rendering such
                   evaluations;

         (d)       Such other evaluation techniques, such as use of
                   capitalization ratios, deemed appropriate by the Committee
                   and executed by independent and recognized analysts having
                   expertise in rendering such evaluations; and

         (e)       Effective with respect to shares of Company Stock
                   acquired by the Plan after December 31, 1986, if
                   Company Stock is not readily tradable on an established
                   securities market, with respect to activities carried
                   on by the Plan, all valuations of Company Stock shall
                   be made by an independent appraiser meeting
                   requirements similar to those contained in the Treasury
                   Regulations promulgated under Section 170(a)(1) of the
                   Code.  All such appraisals shall satisfy the
                   requirements of the Department of Labor Regulations
                   promulgated under Section 3(18) of ERISA.  The
                   Committee shall have the exclusive responsibility for
                   selecting the independent appraiser.

         5.3 Suspense Account. Company Stock purchased with the proceeds of a
Loan shall be held in a suspense account pending release and reallocation to
other accounts as the Loan is paid. Company Stock purchased with amounts
allocated to Participants' Other Investments Accounts or the Company Other
Investments Contribution Account shall immediately upon purchase be credited pro
rata to the corresponding Participants' Company Stock or the Company Stock
Contribution Account, as the case may be.

         The Committee may direct the Trustee to sell or resell shares of
Company Stock to any person, including the Company, provided that any such sales
to any disqualified person, including the Company, will be made at no less than
the fair market value thereof, as determined under Section 5.2, and no
commission is charged with respect to such sale. Any such sale shall be made in
conformance with Section 408(e) of ERISA and the Department of Labor Regulations
promulgated thereunder. All sales of Company Stock (except Company Stock held in
a suspense account or the Company Contribution Account) by the Trustee will be
charged pro rata to the Company Stock Accounts of Participants.

                                   ARTICLE VI

                                  EXEMPT LOANS

         6.1 Loans. The Committee may direct the Trustee to obtain Loans. Any
such Loan will meet all requirements necessary to constitute an "exempt loan"
within the meaning of Section 4975(d)(3) of the Code and Treasury Regulation
Section 54.4975-7(b)(1)(iii) and shall be used primarily for the benefit of
Participants and their Beneficiaries. The proceeds, if any, of any such Loan
shall be used, within a reasonable time after the Loan is obtained, only to
purchase Company Stock, repay the Loan, or repay any prior Loan. Any such Loan
shall provide for no more than a reasonable rate of interest (as determined
under Treasury Regulation Section 54.4975-7(b)(7)) and must be without recourse
against the Plan. The number of years to maturity under the Loan must be
definitely ascertainable at all times. The only assets of the Plan that may be
given as collateral on a Loan are shares of Company Stock acquired with the
proceeds of the Loan and shares of Company Stock that were used as collateral on
a prior Loan repaid with the proceeds of the current Loan. Such Company Stock so
pledged shall be placed in a suspense account. No person entitled to payment
under a Loan shall have recourse against Trust assets other than such
collateral, contributions (other than contributions of Company Stock) that are
available under the Plan to meet obligations under the Loan, and earnings
attributable to such collateral and the investment of such contributions. All
Company contributions paid during the Plan Year in which a Loan is made (whether
before or after the date the proceeds of the Loan are received), all Company
contributions paid thereafter until the Loan has been repaid in full, and all
earnings from investment of such Company contributions, without regard to
whether any such Company contributions and earnings have been allocated to
Participants' Other Investments Accounts, shall be available to meet obligations
under the Loan as such obligations accrue, or prior to the time such obligations
accrue, unless otherwise provided by the Company at the time any such
contribution is made. Any pledge of Company Stock must provide for the release
of shares so pledged upon the payment of any portion of the Loan. The number of
shares to be released will be determined in the following manner:

         (a)       If the Loan provides annual payments of principal and
                   interest at a cumulative rate that is not less rapid at
                   any time than level annual payments of principal and
                   interest over ten (10) years, then for each Plan Year
                   during the duration of the Loan, the number of shares
                   of Company Stock released from such pledge shall equal
                   the number of encumbered securities held immediately
                   before release for the current Plan Year multiplied by
                   a fraction.  The numerator of the fraction is the
                   principal paid for such Plan Year.  The denominator of
                   the fraction is the sum of the numerator plus the
                   principal to be paid for all future years.  Such years
                   will be determined without taking into account any
                   possible extension or renewal periods.  To the extent
                   that the net proceeds received by the Plan in respect
                   of any Loan exceed the stated principal amount of the
                   Loan, that portion of any interest payment that would
                   be deemed to be a repayment of principal under standard
                   loan amortization tables shall be treated as principal
                   paid or principal to be paid, as the case may be, for
                   purposes of the above calculation.  This subsection (a)
                   shall not be applicable to a Loan from the time that,
                   by reason of a renewal, extension, or refinancing, the
                   sum of the expired duration of the Loan, the renewal
                   period, and the duration of a new Loan exceeds ten (10)
                   years.

         (b)       If the Loan does not satisfy the conditions stated in
                   subsection (a), then for each Plan Year during the
                   duration of the Loan, the number of shares of Company
                   Stock released from such pledge shall equal the number
                   of encumbered securities held immediately before
                   release for the current Plan Year multiplied by a
                   fraction.  The numerator of the fraction is the sum of
                   principal and interest paid in such Plan Year.  The
                   denominator of the fraction is the sum of the numerator
                   plus the principal and interest to be paid for all
                   future years.  Such years will be determined without
                   taking into account any possible extensions or renewal
                   periods.  If interest on any Loan is variable, the
                   interest to be paid in future years under the Loan
                   shall be computed by using the interest rate applicable
                   as of the end of the Plan Year.  If the collateral
                   includes more than one class of Company Stock, the
                   number of shares of each class to be released for a
                   Plan Year must be determined by applying the same
                   fraction to each class.  Should a Loan initially
                   satisfying the conditions stated in subsection (a) at
                   some subsequent date cease to satisfy the conditions of
                   such subsection, by reason of a renewal, extension, or
                   refinancing of the Loan, then subsection (b) shall be
                   applied in determining the shares released upon payment
                   of any principal or interest after such date.

         6.2 Loan Payments.

         (a)       Payments of principal and interest on any Loan during a
                   Plan Year shall be made by the Trustee (as directed by
                   the Committee) only from (i) Company Contributions to
                   the Trust made to meet the Plan's obligation under a
                   Loan (other than contributions of Company Stock) and
                   from any earnings attributable to Company Stock held as
                   collateral for a Loan and investments of such
                   contributions (both received during or prior to the
                   Plan Year); (ii) the proceeds of a subsequent Loan made
                   to repay a prior Loan; (iii) the proceeds of the sale
                   of any Company Stock held as collateral for a Loan; and
                   (iv) pursuant to Treasury Regulation Section
                   54.4975-11(d)(3), income from Company Stock acquired with
                   the proceeds of a Loan which is not allocated as income
                   of the Plan. Such contribution and earnings must be
                   accounted for separately by the Plan until the Loan is
                   repaid.

         (b)       Company Stock released by reason of the payment of principal
                   or interest on a Loan from amounts allocated to Participants'
                   Other Investments Contribution Accounts or the Company Other
                   Investments Account shall immediately upon payment be
                   allocated as set forth in Sections 7.2 and 7.4 to the
                   corresponding Participants' Company Stock or Company Stock
                   Contribution Account.

         (c)       The Company shall contribute to the Trust sufficient
                   amounts to enable the Trust to pay principal and
                   interest on any such Loans as they come due; provided,
                   however, that no such contribution shall exceed the
                   limitations contained in Sections 7.5 and 7.6.  In the
                   event that such contributions, by reason of the
                   limitations in Sections 7.5 or 7.6, are insufficient to
                   enable the Trust to pay principal and interest on such
                   Loan as it is due, then upon the Trustee's request the
                   Company shall:

                   (i)           Make a Loan to the Trust as described in
                                 Treasury Regulation Section
                                 54.4975-7(b)(4)(iii), in sufficient amounts to
                                 meet such principal and interest payments.
                                 Such new Loan shall also meet all requirements
                                 of an "exempt loan" within the meaning of
                                 Treasury Regulation Section
                                 54.4975-7(b)(1)(iii) and shall be subordinated
                                 to the prior Loan.  Company Stock released
                                 from the pledge of the prior Loan shall be
                                 pledged as collateral to secure the new Loan.
                                 Such Company Stock will be released from this
                                 new pledge and allocated to the accounts of
                                 the Participants in accordance with applicable
                                 provisions of the Plan;

                   (ii)          Purchase any Company Stock pledged as
                                 collateral in an amount necessary to provide
                                 the Trustee with sufficient funds to meet the
                                 principal and interest repayments. Any such
                                 sale by the Plan shall meet the requirements
                                 of Section 408(e) of ERISA and the Department
                                 of Labor Regulations promulgated thereunder;
                                 or

                   (iii)         Any combination of the foregoing. However, the
                                 Company shall not, pursuant to the provisions
                                 of this subsection, do, fail to do, or cause to
                                 be done any act or thing which would result in
                                 a disqualification of the Plan as an employee
                                 stock ownership plan under the Code.

         (d)       Except as provided in Sections 6.3 and 6.4, and
                   notwithstanding any amendment to or termination of the
                   Plan which causes it to cease to qualify as an employee
                   stock ownership plan within the meaning of Section
                   4975(e)(7) of the Code, or any repayment of a Loan, no
                   shares of Company Stock acquired with the proceeds of a
                   Loan obtained by the Trust to purchase Company Stock
                   may be subject to a put, call or other option, or buy-
                   sell or similar arrangement while such shares are held
                   by and when distributed from the Plan.

         (e)       Notwithstanding any provision of the Plan to the
                   contrary, in the event the Plan is terminated, any
                   shares of Company Stock pledged as collateral for a
                   Loan and held in the suspense account provided for in
                   Section 5.3 (or the proceeds of the sale of such
                   Company Stock) shall be applied to repay the
                   outstanding balance of the Loan.  Any shares of Company
                   Stock or cash proceeds from the sale thereof which
                   remain in the suspense account after repayment of the
                   Loan shall be allocated to Participants who are
                   actively employed on the effective date of termination
                   in the ratio that the Adjusted Balance of each
                   eligible Participant's Company Stock and Other
                   Investments Accounts bears to the Adjusted Balance of
                   the Company Stock and Other Investments Accounts of all
                   Participants entitled to share in such allocation.
                   Such ratio shall be calculated after completion of the
                   allocations prescribed in Article VII for the Plan Year
                   in which the effective date of the termination of the
                   Plan occurs and the completion of any subsequent
                   allocations in succeeding Plan Years.  Such
                   allocation(s) shall be made as of the Valuation Date(s)
                   which coincide with or next follow the effective date
                   of the termination.

         6.3 Right of First Refusal. Shares of Company Stock purchased with the
proceeds of a Loan and distributed by the Trustee may, in the discretion of the
Committee, be subject to a "right of first refusal." Such a "right" shall
provide that, prior to any subsequent transfer, the shares must first be offered
in writing to the Trust and then, if refused by the Trust, to the Company at a
price equal to the greater of (i) the then fair market value of such shares of
Company Stock, as determined by the Committee in accordance with Treasury
Regulation Section 54.4975-11(d)(5), or (ii) the purchase price offered by a
buyer, other than the Company or Trustee, making a good faith offer (as
determined by the Committee) to purchase such shares of Company Stock. The Trust
or the Company, as the case may be, may accept the offer as to part or all of
the Company Stock at any time during a period not exceeding fourteen (14) days
after receipt of such offer by the Trust, on terms and conditions no less
favorable to the shareholder than those offered by the independent third party
buyer. Any installment purchase shall be made pursuant to a note secured by the
shares purchased and shall bear a reasonable rate of interest as determined by
the Committee. If the offer is not accepted by the Trust, the Company, or both,
then the proposed transfer may be completed within a reasonable period following
the end of the fourteen (14) day period, but only upon terms and conditions no
less favorable to the shareholder than the terms and conditions of the third
party buyer's prior offer. Shares of Company Stock which are publicly traded
within the meaning of Treasury Regulation Section 54.4975-7(b)(iv) at the time
such right may otherwise be exercised shall not be subject to this "right of
first refusal."

         6.4 Put Option. All shares of Company Stock acquired by the Plan shall
be subject to a "put" option at the time of distribution, provided that at such
time the shares are not publicly traded within the meaning of Treasury
Regulation ss.54.4975-7(b)(iv) or subject to a trading restriction within the
meaning of Treasury Regulation Section 54.4975(b)(10). The "put" option shall be
exercisable by the Participant or his Beneficiary, by the donees of either, or
by a person (including an estate or its distributee) to whom the Company Stock
passes by reason of the Participant's or Beneficiary's death. The "put" option
shall provide that for a period of sixty (60) days after such shares are
distributed, the holder of the option shall have the right to cause the Company,
by notifying it in writing, to purchase such shares at their fair market value,
as determined by the Committee, in accordance with Treasury Regulation Section
54.4975-11(d)(5). Provided, however, that if the holder of such "put" options
shall not exercise such option within such sixty (60) day period, an additional
exercise period of sixty (60) days shall be available during the Plan Year
following the Plan Year in which the distribution was made after the new
valuation of Company Stock has been determined and communicated to the holder of
the option. The Committee may give the Trustee the option to assume the rights
and obligations of the Company at the time the "put" option is exercised,
insofar as the repurchase of Company Stock is concerned. The period during which
the "put" option is exercisable shall not include any period during which the
holder is unable to exercise such "put" option because the Company is prohibited
from honoring it by Federal or State law. The terms of payment for the purchase
of such shares of Company Stock shall be as set forth in the "put" option and
may be either in a lump sum or in installments, as determined by the Committee.
An installment payment in connection with such "put" option shall:

         (a)       Be adequately secured, as determined by the Committee;

         (b)       Bear a reasonable rate of interest, as determined by
                   the Committee;

         (c)       Require equal annual payments;

         (d)       If the distribution constitutes a Total Distribution, payment
                   of the fair market value of a Participant's Company Stock
                   Account balance shall be made in five (5) substantially equal
                   annual payments. The first installment shall not be paid
                   later than thirty (30) days after the Participant exercises
                   the "put" option; and

         (e)       In all respects satisfy the requirements of
                   Section 409(h) of the Code and Treasury Regulation
                   Sectiom 54.4975-7(b)(12).

         If the distribution does not constitute a Total Distribution, the Plan
         shall pay the Participant an amount equal to the fair market value of
         the Company Stock repurchased no later than thirty (30) days after the
         Participant exercises the "put" option.

         The provisions of this Section 6.4 shall apply to all shares of Company
         Stock acquired by the Plan.

         6.5 Continuation of Rights of Put Option. The rights set forth in
Section 6.2(d) and the "put" option provided for by Section 6.4 are
nonterminable and shall continue to apply to shares of Company Stock purchased
by the Trustee with the proceeds of a Loan as described herein or to shares of
Company Stock distributed hereunder notwithstanding the repayment of the Loan or
any amendment to, or termination of, this Plan which causes the Plan to cease to
be an employee stock ownership plan within the meaning of Section 4975(e)(7) of
the Code.

                                   ARTICLE VII

                      ALLOCATIONS TO PARTICIPANTS' ACCOUNTS

         7.1 Separate Accounts. Separate Company Stock and Other Investments
Accounts will be established to reflect Participants' interests under the Plan.
The Committee shall also establish the suspense account referred to in Section
5.3 if a Loan is incurred by the Trust. Records shall be kept by the Committee
from which it can be determined the portion of each Other Investments Accounts
which at any time is available to meet obligations under a Loan in accordance
with Section 6.1 and the portion which is not so available.

         7.2 Company Stock. The Company Stock Account under the Plan maintained
for each Participant will be credited with his allocable share, determined under
Section 7.4, of the Company Stock (including fractional shares) purchased and
paid for by the Trustee or contributed in kind to the Trust, with forfeitures of
Company Stock and with any stock dividends on Company Stock (i) allocated to his
Company Stock Account and (ii) which constitute a portion of his allocable share
of Trust income (or loss). Company Stock acquired by the Trust with the proceeds
of a Loan obtained pursuant to Article VI shall be allocated to the Company
Stock Accounts of Participants according to the method set forth in Section 7.4,
as the Company Stock is released from suspense account as provided for in
Section 6.1.

         7.3 Other Investments. The Other Investments Account under the Plan
maintained for each Participant will be credited (or debited) with its allocable
share, as determined under Section 7.9, of the net income (or loss) of the
Trust, with Company Contributions which have not been used to make principal and
interest payments on a Loan or other Debt or to purchase Company Stock, and with
forfeitures in other than Company Stock. Each Other Investments Account will be
debited for its share of any cash payments for the acquisition of Company Stock
for the benefit of Company Stock Accounts and for any repayment of principal or
interest on any Loan or other Debt chargeable to Participants' Company Stock
Accounts; provided that only the portion of each Other Investments Account which
is available to meet obligations under Loans shall be used to pay principal or
interest on a Loan.

         7.4 Allocations of Company Contributions and Forfeitures.

         (a)       The Company Stock and other investments held in the
                   Company Contribution Account under the Plan, and
                   forfeitures incurred under the Plan for each Plan Year,
                   shall be allocated after the allocation of the net
                   income (or loss) of the Trust for the Plan Year, as
                   provided in Section 7.9, as of the last day of such
                   Plan Year (even though receipt of the Company
                   contributions by the Trustee may take place after the
                   close of such Plan Year) among the Company Stock and
                   Other Investments Accounts of all Participants who,
                   during the course of such Plan Year: (i) (except as
                   otherwise provided in Section 2.38) completed at least
                   one thousand (1,000) Hours of Service and were employed
                   on the last day of the Plan Year; (ii) retired on or
                   after attaining Normal Retirement Age; (iii) died; or
                   (iv) became Totally and Permanently Disabled.  Such
                   allocation shall be allocated in the proportion that
                   the Participant's Compensation for the Plan Year bears
                   to the total Compensation of all such Participants for
                   such Plan Year.  Provided, however, effective for Plan
                   Years commencing on and after January 1, 1994, for
                   purposes of this Section 7.4, in the case of a
                   Participant who enters the Plan on other than the first
                   day of the Plan Year, such Participant's Compensation
                   shall include only that Compensation paid to the
                   Participant on and after becoming a Participant.

                   Notwithstanding the preceding provisions of this Section 7.4,
                   in no event shall an allocation be made to the account of any
                   Participant, for any Limitation Year, which would cause: (i)
                   Annual Additions to the accounts of such Participant to
                   exceed the Maximum Permissible Amount for that Year (except
                   as permitted in Sections 7.5 and 7.6); or (ii) the sum of the
                   Defined Benefit Plan fraction and Defined Contribution Plan
                   fraction (as such terms are defined in Section 7.6) to exceed
                   one (1.0) for such Participant for that Limitation Year.

         (b)       Effective with respect to sales of Company Stock to the
                   Plan after October 22, 1986, no portion of the assets
                   of the Plan attributable to (or allocable in lieu of)
                   Company Stock acquired by the Plan in a sale to which
                   Section 1042 of the Code applies may accrue (or may be
                   allocated directly or indirectly under any other plan
                   of the Company which meets the requirements of Section
                   401(a) of the Code) (i) during the
                   nonallocation period, for the benefit of (A) any
                   taxpayer who makes an election under Section 1042(a) of
                   the Code with respect to Company Stock or (B) any
                   individual who is related to the taxpayer (within the
                   meaning of Section 267(b) of the Code); or (ii) for the
                   benefit of any other person who owns (after the
                   application of Section 318(a) of the Code without
                   regard to the employee trust exception in paragraph
                   (2)(B)(i) of Section 318) more than twenty-five percent
                   (25%) of (A) any class of outstanding stock of the
                   Company or of any corporation which is a member of the
                   same controlled group of corporations with the Company
                   (within the meaning of Section 409(l)(4) of the Code)
                   or (B) the total value of any class of outstanding
                   stock of the Company or any such corporation.

                   (i)       For purposes of this subsection (b),

                             (A) The term "nonallocation period" means the
                             period beginning on the date of the sale of Company
                             Stock to the Plan and ending on the later of the
                             date which is ten (10) years after the effective
                             date of such sale or the date of the allocation of
                             Company Stock under Section 7.4 attributable to the
                             final payment of the Loan incurred in connection
                             with such sale.

                             (B) A person shall not be treated as a more than
                             twenty-five percent (25%) shareholder if such
                             person does not own, under the provisions of
                             Section 318 of the Code specified in subsection
                             (b)(ii), at any time during the one (1) year period
                             ending on the date of the sale of Company Stock to
                             the Plan or on the effective date of the allocation
                             of Company Stock to the Company Stock Accounts of
                             Participants under the Plan, more than twenty-five
                             percent (25%) of the stock described in subsection
                             (b)(ii)(A) and (B).

                   (ii)      The provisions of subsection (b) regarding the
                             nonallocation of Company Stock to certain
                             individuals who are related to a taxpayer who makes
                             an election under Section 1042(a) of the Code with
                             respect to Company Stock, shall not apply to an
                             individual if:

                             (A) such individual is a lineal decedent of the
                             taxpayer; and

                             (B) the aggregate fair market value, determined
                             under Section 5.2, of Company Stock allocated under
                             the Plan to the Company Stock Accounts of all such
                             lineal descendants during the nonallocation period,
                             does not exceed more than five percent (5%) of the
                             Company Stock (or amounts allocated in lieu
                             thereof) held by the Plan which are attributable to
                             a sale to the Plan by any person related to such
                             descendants (within the meaning of Section
                             267(c)(4) of the Code) in a transaction to which
                             Section 1042 of the Code applied.

             (iii) Notwithstanding the foregoing provisions of this subsection
                   (b), the nonallocation provisions of this subsection (b)
                   shall not apply to Company Stock that is acquired by the
                   Trustee directly from the Company in conjunction with or
                   separately from a sale to the Plan by an individual
                   shareholder of the Company or the executor of the estate of
                   such a shareholder to which Section 1042 applies.

         7.5 Maximum Allocations.

         (a)       Except as provided in subsection (b), the allocations to the
                   accounts of any Participant in any Limitation Year shall be
                   limited so that the Participant's Annual Additions for such
                   Year do not exceed the Maximum Permissible Amount.

         (b)       Notwithstanding the provisions of subsection (a), if no
                   more than one-third (1/3) of the Company contributions
                   for a Limitation Year which are deductible as principal
                   or interest payments on a Loan pursuant to the
                   provisions of Section 404(a)(9) of the Code, are
                   allocated to Highly Compensated Employees, then the
                   limitations imposed by subsection (a) shall not apply
                   to:

                   (i)       Forfeitures of Company Stock under the Plan if the
                             Company Stock was acquired with the proceeds of a
                             Loan; or

                   (ii)      Company contributions which are deductible as
                             interest payments on a Loan under Section
                             404(a)(9)(B) of the Code and charged against a
                             Participant's account.

         (c)       If the foregoing limitation on allocations would be
                   exceeded in any Limitation Year for any Participant as
                   a result of the allocation of forfeitures under the
                   Plan, reasonable error in estimating a Participant's
                   Compensation, or under such other limited facts and
                   circumstances which the Commissioner of the Internal
                   Revenue Service, pursuant to Treasury Regulation
                   Section 1.415-6(b)(6), finds justify the availability of this
                   subsection (c), the following corrective adjustments
                   shall be made:

                   (i)         The excess amounts in the Participant's Company
                               Stock and Other Investments Accounts shall be
                               reduced, first by reducing the Participant's
                               Other Investments Account and second, if
                               necessary, by reducing the Participant's Company
                               Stock Account, to insure compliance with
                               subsection (a) by reducing Company contributions
                               for the next Limitation Year (and succeeding
                               Limitation Years, as necessary) for that
                               Participant if the Participant is covered by the
                               Plan and entitled to an allocation hereunder in
                               accordance with Section 7.4.

                   (ii)        If the Participant is not entitled to share in
                               the allocation of Company contributions as of the
                               end of the Limitation Year, then the excess
                               amount shall be held unallocated in a suspense
                               account for the Limitation Year and allocated and
                               reallocated in the next Limitation Year to all
                               remaining Participants in the Plan who are
                               entitled to an allocation of Company
                               contributions.  The excess amount held in such
                               suspense account shall be (A) allocated and
                               reallocated (subject to the limits of this
                               Article VII) before any Annual Additions may be
                               made to the Plan for the Limitation Year and (B)
                               used to reduce Company contributions for that
                               Limitation Year (and any succeeding Limitation
                               Years, as necessary) for all remaining
                               Participants entitled to receive an allocation of
                               such Company contribution.  No excess amount or
                               any portion thereof may be distributed to
                               Participants, Inactive Participants or their
                               Beneficiaries.

                   (iii)       As used in this subsection (c), "excess amount"
                               means the excess of a Participant's Annual
                               Additions for a Limitation Year over the amounts
                               prescribed in subsections (a) and (b).

         (d)       Upon termination of the Plan, any amounts in a
                   Limitation Account at the time of such termination
                   shall revert to the Company.

         7.6 Limitations on Participants Who Participate in More
Than One Plan.

         (a)       Notwithstanding the provisions of Section 7.5, the
                   otherwise permissible Annual Additions for any
                   Participant under this Plan may be further reduced to
                   the extent necessary, as determined by the Committee,
                   to prevent disqualification of the Plan under Section
                   415 of the Code, which imposes the following additional
                   limitations on the benefits payable to Participants who
                   also may be participating in another tax qualified
                   pension, profit sharing, savings or stock bonus plan
                   maintained by the Company:

                   (i)         If an individual is a Participant at any time in
                               both a Defined Benefit Plan and Defined
                               Contribution Plan maintained by the Company, the
                               sum of the Defined Benefit Plan fraction and the
                               Defined Contribution Plan fraction for any
                               Limitation Year may not exceed one (1.0) if the
                               sum of the Defined Benefit Plan fraction and the
                               Defined Contribution Plan fraction for any
                               Limitation Year exceeds one (1.0), the numerator
                               of the Defined Contribution Plan fraction shall
                               be reduced in order that the sum of the Defined
                               Contribution Plan fraction and the Defined
                               Benefit Plan fraction do not exceed one (1.0).

                   (ii)        The Defined Benefit Plan fraction for any
                               Limitation Year is a fraction, the numerator of
                               which is the Participant's projected annual
                               benefit under the Plan (determined at the close
                               of the Limitation Year) and the denominator of
                               which is the lesser of 1.25 multiplied by Ninety
                               Thousand Dollars ($90,000) or such greater amount
                               permitted by Treasury Regulations to reflect
                               cost-of-living adjustments; or 1.4 multiplied by
                               one hundred percent (100%) of the Participant's
                               average monthly compensation, as defined in
                               Treasury Regulation Section 1.415-2(d)(1)(i)
                               during the three (3) consecutive years when the
                               total compensation paid to him was highest. The
                               Defined Contribution Plan fraction for any
                               Limitation Year is a fraction, the numerator of
                               which is the sum of the Annual Additions to the
                               Participant's accounts in such Limitation Year
                               and for all prior Plan Years and the denominator
                               of which is the sum of the applicable maximum
                               amounts of Annual Additions which could have been
                               made under Section 415(c) of the Code for such
                               Plan Year and for all prior years of such
                               Participant's employment (assuming for this
                               purpose, that said Section 415(c) had been in
                               effect during such prior years).  The applicable
                               maximum amount for any Limitation Year shall be
                               equal to the lesser of 1.25 multiplied by the
                               dollar limitation in effect for such Limitation
                               Year under Section 415(c)(1)(A) of the Code; or
                               1.4 multiplied by twenty-five percent (25%) of
                               the Participant's Compensation for such Plan
                               Year.

                   (iii)       If the Plan satisfied the applicable requirements
                               of Section 415 of the Code as in effect for all
                               Limitation Years beginning before January 1,
                               1989, an amount shall be subtracted from the
                               numerator of the Defined Contribution Plan
                               Fraction (not exceeding such numerator) as
                               prescribed by the Secretary of the Treasury so
                               that the sum of the Defined Benefit Plan fraction
                               and the Defined Contribution Plan fraction
                               computed under Section 415(e)(1) of the Code does
                               not exceed 1.0 for such Limitation Year.

         (b)       For purposes of the limitation provided for by this
                   Section 7.6, all Defined Benefit Plans of the Company,
                   whether or not terminated, are to be treated as one
                   Defined Benefit Plan and all Defined Contribution Plans
                   of the Company, whether or not terminated, are to be
                   treated as one Defined Contribution Plan.  The extent
                   to which Annual Additions under the Plan shall be
                   reduced as compared with the extent to which the annual
                   benefit under any Defined Benefit Plan shall be reduced
                   in order to achieve compliance with the limitations of
                   Section 415 of the Code shall be determined by the
                   Committee in such a manner so as to maximize the
                   aggregate benefits payable to such Participant.  If
                   such reduction is under this Plan, the Committee shall
                   advise affected Participants of any additional
                   limitation on their annual benefits required by this
                   Section 7.6.

         (c)       The above limitations are intended to comply with the
                   provisions of Section 415 of the Code so that the
                   maximum benefits provided by plans of the Company shall
                   be exactly equal to the maximum amounts allowed under
                   Section 415 of the Code and Treasury Regulations
                   thereunder.  If there is any discrepancy between the
                   provisions of this Section 7.6 and the provisions of
                   Section 415 of the Code and Treasury Regulations
                   thereunder, such discrepancy shall be resolved in such
                   a way as to give full effect to the provisions of
                   Section 415 of the Code.

         7.7 Vesting.

         (a)       Vesting on Termination of Service.   A Participant
                   shall be one hundred percent (100%) vested in the
                   Adjusted Balance of his Company Stock and Other
                   Investments Accounts as follows: (i) upon attaining
                   Normal Retirement Age (age 65); (ii) upon the
                   Committee's determination that the Participant is
                   Totally and Permanently Disabled and (iii) upon the
                   death of the Participant while still employed.  Should
                   a Participant's Separation from Service occur under any
                   circumstances other than those set forth in (i), (ii)
                   or (iii), his vested interest in his Company Stock And
                   Other Investments Accounts shall be determined based on
                   his completed years of Vesting Service as follows:

                      Years of               Vested           Forfeited
                   Vesting Service         Percentage         Percentage

                        0-5                     0%               100%
                     5 or more                100%                 0%

                   The provisions of this subsection (a) shall be applicable to
                   Plan Years commencing on and after January 1, 1989.

         (b)       Breaks in Service.  In the case of a Participant who
                   has five (5) or more consecutive one (1) year Breaks in
                   Service, all Service after such Breaks in Service shall
                   be disregarded for the purpose of vesting the
                   Participant's Company Stock and Other Investments
                   Accounts attributable to Company contributions that
                   accrued before such Breaks in Service.  Such
                   Participant's pre-break Service will count in vesting
                   his post-break Company Stock and Other Investments
                   Accounts under the Plan only if either:

                   (i)       Such Participant has any nonforfeitable interest
                             in his Company Stock and Other Investments
                             Accounts under the Plan at the time of Separation
                             from Service; or

                   (ii)      Upon returning to Service, the number of
                             consecutive one-year Breaks in Service is less than
                             the number of Years of Vesting Service.

                   Separate accounts will be maintained for the Participant's
                   pre-break and post-break account balances. Both accounts will
                   share in allocations under Sections 7.8 and 7.9.

                   Upon Separation from Service of such a Participant, he shall
                   be entitled to the vested interest in his Company Stock and
                   Other Investments Accounts under the Plan, based upon his
                   completed years of Vesting Service. The nonvested portion, if
                   any, shall be forfeited and reallocated to the Company Stock
                   and Other Investments Accounts of all other Participants, as
                   provided in subsections (b) through (g).

         (c)       Application of Forfeitures to Company Stock Account.
                   The amount of any forfeiture hereunder shall first be
                   deducted from the Participant's Other Investments
                   Account.  If forfeiture of the Participant's Other
                   Investments Account is not sufficient to reduce the
                   fair market value of the vested portion of the Adjusted
                   Balances of his accounts to the percentage of the total
                   value of his accounts determined under this Section
                   7.7, the remainder of the forfeiture shall be deducted
                   from the Participant's Company Stock Account.  If a
                   Participant's Company Stock Account includes more than
                   one class of Company Stock, the forfeiture shall
                   consist of the same proportion of each class of stock.
                   All forfeitures shall be applied in the manner
                   described in subsections (c) through (g).

         (d)       Cash-Out Distributions to Partially-Vested
                   Participants/Restoration of Forfeited Accrued Benefits.
                   If, pursuant to Article VIII, a partially-vested
                   Participant receives a cash-out distribution before he
                   incurs a forfeiture break in service (as defined in
                   subsection (f), the cash-out distribution will result
                   in an immediate forfeiture of the nonvested portion of
                   the Participant's Company Stock and Other Investments
                   Accounts.  A partially vested Participant is a
                   Participant whose nonforfeitable percentage of his
                   Company Stock and Other Investments Accounts determined
                   under Section 7.7 (or Section 2.38, whichever is
                   applicable) is less than one hundred percent (100%).  A
                   cash-out distribution is a distribution of the entire
                   present value of the Participant's nonforfeitable
                   balance in his Company Stock and Other Investments
                   Accounts.

                   (i)         Restoration and Conditions Upon Restoration.  A
                               partially-vested Participant who is re-employed
                               after receiving a cash-out distribution of the
                               nonforfeitable percentage of his Company Stock
                               and Other Investments Accounts may repay to the
                               Trustee the amount of the cash-out distribution,
                               unless the Participant no longer has a right to
                               restoration under the requirements of this
                               subsection (c).  If a partially-vested
                               Participant makes the cash-out distribution
                               repayment, the Committee, subject to the
                               conditions of this subsection (c), shall restore
                               his Company Stock and Other Investments Accounts
                               to the same dollar amount as the dollar amount of
                               his Company Stock and Other Investments Accounts
                               on the last day of the Plan Year, or other
                               applicable Valuation Date, immediately preceding
                               the date of the cash-out distribution, unadjusted
                               for any adjustments for earnings and
                               losses occurring subsequent to such last day of
                               the Plan Year or other Valuation Date.
                               Restoration of the Participant's Company Stock
                               and Other Investments Accounts shall include
                               restoration of all Section 411(d)(6) protected
                               benefits with respect to that Company Stock and
                               Other Investments Accounts, in accordance with
                               applicable Treasury Regulations.  The Committee
                               shall not restore a re-employed Participant's
                               Company Stock and Other Investments Accounts
                               under this subsection (c) if:

                               (A)        Five (5) years have elapsed since the
                                          Participant's first re-employment date
                                          with the Company following the
                                          cash-out distribution; or

                               (B)        The Participant incurred a forfeiture
                                          break in service (as defined in
                                          subsection (f)). This condition also
                                          applies if the Participant makes
                                          repayment within the Plan Year in
                                          which he incurs the forfeiture break
                                          in service and that forfeiture break
                                          in service would result in a complete
                                          forfeiture of the amount the Committee
                                          otherwise would restore.

                   (ii)        Time and Method of Restoration.  If neither of
                               the two conditions specified in subsection (c)(i)
                               preventing restoration of the Participant's
                               Company Stock and Other Investments Accounts
                               applies, the Committee will restore the
                               Participant's Company Stock and Other Investments
                               Account as of the last day of the Plan Year
                               coincident with or immediately following the
                               repayment.  To restore the Participant's Company
                               Stock and Other Investments Accounts, the
                               Committee, to the extent necessary, shall
                               allocate to the Participant's Company Stock and
                               Other Investments Accounts:

                               (A)        First, the amount, if any, of
                                          forfeitures the Committee would
                                          otherwise allocate under Section 7.4.

                               (B)        Second, the amount, if any, of the
                                          adjustments for earnings or losses for
                                          the Plan Year; and

                               (C)        Third, the Company's contribution for
                                          the Plan Year, to the extent made
                                          under a discretionary formula.

                                          To the extent the amounts described in
                                          paragraphs (A), (B) and (C) are
                                          insufficient to enable the Committee
                                          to make the required restoration, the
                                          Company shall contribute, without
                                          regard to any requirement or condition
                                          of Article VI, the additional amount
                                          necessary to enable the Committee to
                                          make the required restoration. If, for
                                          a particular Plan Year, the Committee
                                          must restore the Company Stock and
                                          Other Investments Accounts of more
                                          than one re-employed Participant, then
                                          the Committee will make the
                                          restoration allocation(s) to each such
                                          Participant's Company Stock and Other
                                          Investments Accounts in the same
                                          proportion that a Participant's
                                          restored amount for the Plan Year
                                          bears to the restored amount for the
                                          Plan Year of all re-employed
                                          Participants. The Committee shall not
                                          take into account the allocation under
                                          this Section 7.7 in applying the
                                          limitation on allocations under
                                          Sections 7.5 and 7.6.

                   (iii)       Zero Percent (0%) Vested Participant.  The deemed
                               cash-out rule applies to a zero percent (0%)
                               vested Participant.  A zero percent (0%) vested
                               Participant is a Participant whose Company Stock
                               and Other Investments Accounts are entirely
                               forfeitable at the time of his Separation from
                               Service.  Under the deemed cash-out rule, the
                               Committee shall treat the zero percent (0%)
                               vested Participant as having received a cash-out
                               distribution on the date of the Participant's
                               Separation from Service or, if the Participant's
                               Company Stock and Other Investments Accounts are
                               entitled to an allocation of Company
                               contributions for the Plan Year in which he
                               incurs a Separation from Service, on the last day
                               of that Plan Year.  For purposes of applying the
                               restoration provisions of this Section 7.7 the
                               Committee shall treat the zero percent (0%)
                               vested Participant as repaying his cash-out
                               "distribution" on the first date of his re-
                               employment with the Company.

         (e)       Segregated Account for Repaid Amount.  Until the
                   Committee restores the Participant's Company Stock and
                   Other Investments Accounts, as provided in subsection
                   (c), the Trustee will invest the cash-out amount the
                   Participant has repaid in a segregated account
                   maintained solely for that Participant.  To the extent
                   the segregated account includes assets other than
                   Company Stock, the Trustee shall invest the amount in
                   the Participant's segregated account in federally
                   insured interest bearing savings accounts(s) or time
                   deposit(s) (or a combination of both), or in other
                   fixed income investments.  Until commingled with the
                   balance of the Fund on the date the Committee restores
                   the Participant's Company Stock and Other Investments
                   Accounts, the Participant's segregated account remains
                   a part of the Fund, but it alone shares in any income
                   it earns and it alone bears any expense or loss it
                   incurs.  Unless the repayment qualifies as a rollover
                   contribution, the Committee will direct the Trustee to
                   repay to the Participant as soon as administratively
                   practicable the full amount of the Participant's
                   segregated account if the Committee determines either
                   of the conditions of subsection (c) prevent restoration
                   as of the applicable Valuation Date, notwithstanding
                   the Participant's repayment.

         (f)       Year of Service - Vesting. Except as otherwise provided in
                   Section 2.37, regarding a Participant's initial vesting
                   computation period, for purposes of vesting under Sections
                   2.38 and 7.7, a Year of Service means any Plan Year during
                   which an Employee completes not less than one thousand
                   (1,000) Hours of Service.

         (g)       Included Years of Service - Vesting.  For the sole
                   purpose of determining a Participant's nonforfeitable
                   percentage of his Company Stock and Other Investments
                   Accounts attributable to Company contributions which
                   accrued for his benefit prior to a forfeiture break in
                   service, the Plan disregards any year of Service after
                   the Participant first incurs a forfeiture break in
                   service.  The Participant incurs a forfeiture break in
                   service when he incurs five (5) consecutive one-year
                   Breaks in Service.

         (h)       Forfeiture Occurs.  A Participant's forfeiture, if any,
                   of the portion of his Company Stock and Other
                   Investments Accounts attributable to Company
                   contributions shall occur under the Plan on the earlier
                   of:

                   (i)       The last day of the Plan Year in which the
                             Participant first incurs a forfeiture break in
                             service; or

                   (ii)      The date the Participant receives a cash-out
                                  distribution.

         7.8 Allocation of Dividends. All cash dividends on Company Stock held
by the Plan shall constitute Trust income and shall be allocated in accordance
with the provisions of Section 7.9 except to the extent cash dividends on
Company Stock acquired with the proceeds of a Loan are used to pay principal or
interest on a Loan as provided by Treasury Regulation ss.54.4975-11(d)(3) or are
distributed to Participants in accordance with the provisions of Section 8.6.
Dividends on Company Stock allocated to a Participant's Company Stock Account
may be utilized to pay principal or interest on a Loan so long as such Account
receives an allocation of Company Stock with a fair market value, as determined
under Section 5.2, that is not less than the amount of the dividend that would
have been allocated to the Participant's Other Investments Account but for the
use of the dividends to make the payment on the Loan. Such allocation of Company
Stock must be made for the Plan Year in which the dividends would otherwise have
been allocated to the Participant's Other Investments Account.

         7.9 Net Income (or Loss) of the Trust. The net income (or loss) of the
Trust for each Plan Year will be determined as of each Valuation Date. Prior to
the allocations of Company contributions and forfeitures for the Plan Year, each
Participant's share of the net income (or loss), other than stock dividends on
Company Stock, will be allocated to his Other Investments Account in the ratio
which the Adjusted Balance of all of the Participant's accounts on the preceding
Anniversary Date (reduced by the amount of any distribution from such accounts)
bears to the sum of such balances for all Participants as of that date. The net
income (or loss) of the Trust includes (i) the increase (or decrease) in the
fair market value of the Trust Fund (other than Company Stock), (ii) interest
income, and (iii) except as provided in Section 7.8, dividends and other income
(or loss) attributable to the Trust Fund since the preceding Valuation Date. Net
income (or loss) of the Trust shall not include (i) Company contributions, (ii)
forfeitures, or (iii) any gains or losses upon sales or exchanges of unallocated
Company Stock. Net income (or loss) attributable to any Limitation Account
established under Section 7.5 shall be allocated to the Other Investments
Accounts of Participants in the manner set forth in the second sentence of this
Section, and the Limitation Account shall not share in the allocation of net
income (or loss) of the Trust under this Section 7.9.

         The provisions of Section 7.9 shall be applicable to Plan Years
commencing on and after January 1, 1989.

         7.10 Accounting for Allocations. The Committee shall adopt accounting
procedures for the purpose of making the allocations, valuations and adjustments
to Participants' accounts provided for in this Article VII. Except as provided
in Treasury Regulation Section 54.4975-11(d), Company Stock acquired by the Plan
shall be accounted for as provided under Treasury Regulation ss.1.402(a)-1(b),
allocations of Company Stock shall be made separately for each class of stock,
and the Committee shall maintain adequate records of the cost basis of all
shares of Company Stock allocated to each Participant's Rollover and Company
Stock Accounts. From time to time, the Committee may modify the accounting
procedures for the purpose of achieving equitable and nondiscriminatory
allocations among the accounts of Participants in accordance with the general
concepts of the Plan and the provisions of this Section. Valuations of Trust
Assets shall be made at fair market value, as described in Section 5.2.

         7.11 Benefits to Minors and Incompetents.

         (a)       Minors. In case any person entitled to receive payment under
                   the Plan shall be a minor, the Committee, in its discretion,
                   may dispose of such amount in any one or more of the
                   following ways:

                   (i)         By payment thereof directly to such minor;

                   (ii)        By application thereof for the benefit of such
                                    minor; or

                   (iii)       By payment thereof to either parent of such minor
                               or to any adult person with whom such minor may
                               at the time be living or to any person who shall
                               be legally qualified and shall be acting as
                               guardian of the person or the property of such
                               minor; provided only that the parent or adult
                               person to whom any amount shall be paid shall
                               have advised the Committee in writing that he
                               will hold or use such amount for the benefit of
                               such minor.

         (b)       Incompetents.  In the event that it shall be found that
                   a person entitled to receive payment under the Plan is
                   physically or mentally incapable of personally
                   receiving and giving a valid receipt for any payment
                   due (unless prior claim therefor shall have been made
                   by duly qualified committee or other legal
                   representative), such payments may be made to the
                   spouse, son, daughter, parent, brother, sister, or
                   other person deemed by the Committee to have incurred
                   expense for such person otherwise entitled to payment.

                                  ARTICLE VIII
                            DISTRIBUTION OF BENEFITS

         8.1 Time of Payment of Benefits. The Committee shall direct the Trustee
to commence distribution of the nonforfeitable portion of the Participant's
Company Stock and Other Investments Accounts in accordance with the provisions
of this Section 8.1. A Participant must consent, in writing, to any distribution
required under this Section 8.1 if the present value of the nonforfeitable
portion of the Participant's Company Stock and Other Investments Accounts, at
the time of the distribution to the Participant, exceeds Three Thousand Five
Hundred Dollars ($3,500) and the Participant has not attained his Normal
Retirement Age. A distribution date under this Article VIII, unless otherwise
specified under the Plan, is on or as soon as administratively practicable
following a distribution date. For purposes of the consent to distribution
requirements under this Article VIII, if the present value of the nonforfeitable
portion of the Participant's Company Stock and Other Investments Accounts, at
the time of any distribution, exceeds Three Thousand Five Hundred Dollars
($3,500), the Committee shall treat that present value as exceeding Three
Thousand Five Hundred Dollars ($3,500) for purposes of all subsequent
distributions to the Participant. If a distribution is one to which Sections
401(a)(11) and 417 of the Internal Revenue Code do not apply, such distribution
may commence less than thirty (30) days after the notice required under Section
1.411(a)(11)(c) of the Treasury Regulations is given, provided that:

                   (i)       The Committee clearly informs the Participant that
                             the Participant has a right to a period of at least
                             thirty (30) days after receiving the notice to
                             consider the decision of whether or not to elect a
                             distribution (and, if applicable, a particular
                             distribution option); and

                   (ii)      The Participant, after receiving the notice,
                             affirmatively elects a distribution.

         (a)       Termination of Employment For a Reason Other Than
                   Death, Permanent and Total Disability or Retirement.
                   In the case of a Participant who terminates employment
                   with the Company for a reason other than death, Total
                   and Permanent Disability or retirement on or after
                   attaining his Normal Retirement Age, the Committee
                   shall direct the Trustee to commence distribution of
                   the Participant's Company Stock and Other Investments
                   Accounts as follows:

                   (i)       Participant's Nonforfeitable Company Stock and
                             Other Investments Accounts do not Exceed $3,500.
                             In a single sum on the first distribution date
                             provided in Section 8.4, but in no event later
                             than the sixtieth (60th) day following the close
                             of the Plan Year in which the Participant attains
                             his Normal Retirement Age.  If the Participant has
                             attained his Normal Retirement Age when his
                             Separation from Service occurs, the distribution
                             under this paragraph will occur no later than the
                             sixtieth (60th) day following the close of the
                             Plan Year in which the Participant's Separation
                             from Service occurs.

                   (ii)      Participant's Nonforfeitable Company Stock and
                             Other Investments Accounts Exceed $3,500.  Unless
                             a later distribution date is elected by the
                             Participant, on the first distribution date
                             provided in Section 8.4.  In the absence of an
                             election by the Participant, the Committee will
                             direct the Trustee to distribute the
                             nonforfeitable portion of the Participant's
                             Company Stock and Other Investments Accounts in a
                             single sum on the sixtieth (60th) day following
                             the close of the Plan Year in which the latest of
                             the following events occurs:  (A) the Participant
                             attains his Normal Retirement Age or (B) the
                             Participant incurs a Separation from Service.

             (iii) Total and Permanent Disability. If the Participant incurs a
                   Separation from Service because of Total and Permanent
                   Disability, in a single sum, on the first distribution date
                   provided in Section 8.4, subject to the notice and consent
                   requirements of this Article VIII and to the applicable
                   mandatory commencement dates described in paragraph (i) or
                   (ii).

         (b)       Required Beginning Date.  If any distribution date
                   described under subsection (a), either by Plan
                   provision or by Participant election (or nonelection),
                   is later than the Participant's required beginning date
                   (as defined below), the Committee instead shall direct
                   the Trustee to make distribution under this Section 8.1
                   on the Participant's required beginning date.  A
                   Participant's required beginning date is the April 1
                   following the close of the calendar year in which the
                   Participant attains age seventy and one-half (70-1/2).

                   However, if the Participant, prior to incurring a Separation
                   from Service, attained age seventy and one-half (70-1/2) by
                   January 1, 1988, and for the five (5) Plan Year period ending
                   in the calendar year in which he attained age seventy and
                   one-half (70-1/2) and for all subsequent years, the
                   Participant was not a more than five percent (5%) owner, the
                   required beginning date shall be the April 1 following the
                   close of the calendar year in which the Participant incurs a
                   Separation from Service or, if earlier, the April 1 following
                   the close of the calendar year in which the Participant
                   becomes a more than five percent (5%) owner. Furthermore, if
                   a Participant attains age seventy and one-half (70-1/2)
                   during 1988, the Participant does not incur a Separation from
                   Service prior to January 1, 1989, and for the five (5) Plan
                   Year period ending in 1988, the Participant was not a more
                   than five percent (5%) owner, his required beginning date is
                   April 1, 1990. A mandatory distribution at the Participant's
                   required beginning date will be in a single sum.

         (c)       Death of the Participant.  The amount of the death
                   benefit under this Plan shall be the Adjusted Balance
                   of the Participant's Company Stock and Other
                   Investments Accounts at the time of the Participant's
                   death.  The Committee shall direct the Trustee to pay
                   the deceased Participant's Company Stock and Other
                   Investments Accounts at the time elected by his
                   designated Beneficiary.  In the absence of an election,
                   the Committee shall direct the Trustee to distribute
                   the Participant's Company Stock and Other Investments
                   Accounts in a single sum on the first distribution date
                   provided in Section 8.4 or, if later, the first
                   distribution date following the date the Committee
                   receives notification of or otherwise confirms the
                   Participant's death.

If all or any portion of the Participant's Company Stock and Other Investments
Accounts is payable to his surviving spouse, the surviving spouse may elect to
receive distribution at any time this Article VIII would permit a Participant to
receive a distribution.

         8.2 Method of Payment. A Participant, Inactive Participant or
Beneficiary will receive all distributions by payment in a single sum.

         8.3 Property Distributed. Distribution of the vested portion of the
Adjusted Balance of a Participant's Company Stock and Other Investments Accounts
will be made in whole shares of Company Stock or in cash in the following
manner: at least thirty (30) but not more than ninety (90) days prior to the
date specified by the Committee for distribution, the Participant or Beneficiary
entitled to such distribution will be notified in writing by the Committee of
his right to demand that all or any part of the distribution be made in whole
shares of Company Stock, except for cash in lieu of fractional shares. The
Participant or Beneficiary, as the case may be, may, within fifteen (15) days
following the date of the Committee's notification of such right, notify the
Committee in writing of his demand that all or a specified portion of the
distribution be made in whole shares of Company Stock. If the Participant or
Beneficiary, as the case may be, exercises such right of demand, the balance in
the Participant's Other Investments Account, to the extent necessary to comply
with such demand, will be used to acquire whole shares of Company Stock for
distribution at the then fair market value (as determined by the Committee as
set forth in Section 5.2), with the value of fractional shares distributed in
cash. In the absence of the timely exercise of such right as set forth above, or
if the Participant demands that less than all of such distribution be made in
whole shares of Company Stock, distribution of the vested portion of the
Adjusted Balance of a Participant's accounts, or the portion thereof not
demanded in whole shares of Company Stock, will be made in whole shares of
Company Stock or in cash or partially in shares of Company Stock and partially
in cash, as determined by the Committee. Notwithstanding the foregoing
provisions of this Section 8.3, a Participant shall not have the right to
specify his benefit be distributed in the form of Company Stock to the extent
the Participant has diversified the investment of his or her Company Stock
Account in assets other than Company Stock under Article X.

           8.4 Valuation of Company Stock and Other Investments Accounts.
Subject to the mandatory distribution provisions of Section 8.1, valuation of
the Participant's Company Stock and Other Investments Accounts for purposes of
determining the amount to be distributed shall be made as follows:

           (a)       Termination of Employment for a Reason Other Than
                     Death, Total and Permanent Disability or Retirement.
                     In the case of a Participant who terminates employment
                     with the Company for any reason other than death,
                     Total and Permanent Disability or retirement on or
                     after attaining Normal Retirement Age, the
                     Participant's Company Stock and Other Investments
                     Accounts shall be valued as of the Valuation Date
                     coinciding with or immediately following the date of
                     the Participant's termination of employment, and such
                     Company Stock and Other Investments Accounts shall be
                     entitled to share in the allocation of any
                     adjustments, in the manner prescribed in Article VII,
                     attributable to the Participant's Company Stock and
                     Other Investments Accounts for the Plan Year in which
                     such Separation from Service occurs.

           (b)       Termination of Employment Due to Death, Total and
                     Permanent Disability or Retirement.  In the case of a
                     Participant who terminates employment with the Company
                     due to death, Total and Permanent Disability or
                     retirement upon or after attaining his Normal
                     Retirement Age, the Participant's Company Stock and
                     Other Investments Accounts shall be valued as of the
                     Valuation Date coinciding with or immediately
                     following the date of the Participant's termination of
                     employment, and such Company Stock and Other
                     Investments Accounts shall be entitled to share in the
                     allocation of Company contributions and any
                     adjustments, in the manner prescribed in Article VII,
                     attributable to the Participant's Company Stock and
                     Other Investments Accounts for the Plan Year in which
                     such Separation from Service occurs.

           8.5 Minimum Required Distributions. Notwithstanding any provision of
this Plan to the contrary, unless a Participant otherwise elects, the payment of
benefits under the Plan to the Participant shall not commence later than the
sixtieth (60th) day after the latest of the close of the Plan Year in which (i)
the Participant attains Normal Retirement Age, (ii) the tenth anniversary of the
year in which the Participant commenced participation under the Plan, or (iii)
the Participant terminates employment with the Company.

           8.6 Dividends. As determined by the Committee, in its sole
discretion, cash dividends received by the Trustee on Company Stock held by the
Plan may be utilized in one or more of the following ways:

           (a)       Distributed to Participants (and former Participants
                     or Beneficiaries who have not received a distribution
                     of the Adjusted Balance of their Accounts and who are
                     entitled to receive an allocation of Trust income in
                     accordance with the provisions of Sections 7.8 and 7.9
                     and this Article VIII) in a nondiscriminatory manner
                     who are or were one hundred percent (100%) vested in
                     the Adjusted Balance of their Company Stock and Other
                     Investments Accounts on the record date for payment of
                     the dividend, provided that (A) any current payment
                     determined by the Committee to be paid to such
                     Participants in cash must be made during the taxable
                     year and paid directly to Participants or paid to the
                     Plan and distributed in cash by the Plan to the
                     Participants not later than ninety (90) days after the
                     close of the Plan Year in which the dividends are paid
                     and (B) payments under this Section 8.7 shall only be
                     made pursuant to a written election made by an
                     eligible Participant on forms furnished by the
                     Committee which provide that one hundred percent
                     (100%) of the amount of the dividends allocable to the
                     Company Stock in the Participants Company Stock
                     Account determined to be distributed will be received
                     by the Participant and no portion of such
                     Participant's allocable share of such dividends will
                     be allocated to his Other Investments Account.  An
                     election by a Participant to receive less than one
                     hundred percent (100%) of his allocable share of
                     dividends or the failure by a Participant to make an
                     election hereunder will be treated by the Committee as
                     an election to have one hundred percent (100%) of
                     such dividends allocated to his Other Investments
                     Account.  In the case of a Participant who is not one
                     hundred percent (100%) vested in the Adjusted Balance
                     of his Company Stock and Other Investments Accounts on
                     the record date for payment of the dividend, such
                     Participant's allocable share of the dividends shall
                     automatically be allocated to his Other Investments
                     Account.  Any payment of cash dividends to
                     Participants on shares of Company Stock shall be
                     accounted for as if the Participant or former
                     Participant receiving such dividends was the direct
                     owner of such shares of Company Stock and such payment
                     shall not be treated as a distribution under the Plan.

           (b)       Utilized to pay principal or interest on a Loan.
                     Effective for cash dividends paid after October 22,
                     1986, cash dividends on Company Stock which have been
                     allocated to the Company Stock Accounts of
                     Participants on the record date for such dividends may
                     subsequently be utilized to pay principal or interest
                     on a Loan only if the Company Stock Accounts of
                     Participants to which such dividends would have been
                     allocated receive an allocation of Company Stock with
                     a fair market value, as determined in accordance with
                     Section 5.2, that is not less than the amount of the
                     dividend that would have been allocated to such
                     Company Stock Accounts but for the loan repayment.
                     Such allocation to Participants' Company Stock
                     Accounts shall be made in the Plan Year in which the
                     dividend would otherwise have been allocated.  The
                     preceding provisions of this subsection (b) shall not
                     apply to cash dividends on Company Stock which have
                     not been allocated to Participants' Company Stock
                     Accounts on or before the record date for such
                     dividend.

           (c)       Allocated to the Other Investments Accounts of Participants
                     who are entitled, in accordance with the provisions of
                     Sections 7.8 and 7.9 and this Article VIII, to receive an
                     allocation of Trust income for the Plan Year in which the
                     dividend is paid.

           8.7 Distributions Under Qualified Domestic Relations Orders. Nothing
contained in this Plan shall prevent the Trustee, in accordance with the
direction of the Committee, from complying with the provisions of a qualified
domestic relations order (as defined in Section 414(p) of the Code). This Plan
specifically permits distribution to an alternate payee under a qualified
domestic relations order at any time, irrespective of whether the Participant
has attained his earliest retirement age (as defined under Section 414(p) of the
Code) under the Plan. A distribution to an alternate payee prior to the
Participant's attainment of his earliest retirement age is available only if:
(a) the order specifies distribution at that time or permits an agreement
between the Plan and the alternate payee to authorize an earlier distribution
and (b) if the present value of the alternate payee's benefits under the Plan
exceeds Three Thousand Five Hundred Dollars ($3,500), the alternate payee
consents to any distribution which occurs prior to the participant's attainment
of his earliest retirement age. Nothing in this Section 8.8 shall permit a
Participant to receive a distribution at a time not otherwise permitted under
the Plan nor does it permit the alternate payee to receive a form of payment not
permitted under the Plan.

           8.8 Direct Rollovers.

                     (a)       This Section 8.5 applies to distributions from
                               the Plan made on or after January 1, 1993.
                               Notwithstanding any provision of the Plan to the
                               contrary that would otherwise limit a
                               distributee's election under this Section 8.5, a
                               distributee may elect, at the time and in the
                               manner prescribed by the Committee, to have any
                               portion of an eligible rollover distribution paid
                               directly to an eligible retirement plan specified
                               by the distributee in a direct rollover.

                     (b)       Definitions.

                          (i)  Eligible rollover distribution.  An eligible
                               rollover distribution is any distribution of
                               all or any portion of the balance to the
                               credit of the distributee, except that an
                               eligible rollover distribution does not
                               include: any distribution that is one of a
                               series of substantially equal periodic
                               payments (not less frequently than annually)
                               made for the life (or life expectancy) of
                               the distributee or the joint lives (or joint
                               life expectancies) of the distributee and
                               the distributee's designated beneficiary, or
                               for a specified period of ten years or more;
                               any distribution to the extent such
                               distribution is required under section
                               401(a)(9) of the Code; and the portion of
                               any distribution that is not includible in
                               gross income (determined without regard to
                               the exclusion for net unrealized
                               appreciation with respect to Company Stock).

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

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

                         (iv)  Direct Rollover.  A direct rollover is a
                               payment by the Plan to the eligible
                               retirement plan specified by the
                               distributee.

                                   ARTICLE IX

                              VOTING COMPANY STOCK

           9.1       Voting Company Stock.

           (a)       A Participant, Inactive Participant or Beneficiary shall be
                     entitled to direct the Trustee as to the manner in which
                     voting rights of shares of the Company's common stock which
                     is acquired by the Trust and allocated to his Company Stock
                     Accounts are to be exercised with respect to all matters
                     with regard to which the Company Stock is entitled to vote.

           (b)       The Committee shall, at least thirty (30) days prior
                     to each meeting of holders of Company stock, provide
                     each Participant entitled under this subsection (a) to
                     direct the voting of Company stock, with notice of
                     such meeting and of those matters which at the time of
                     the mailing of such notice are subject to
                     direction by a Participant, as set forth in this
                     Section 9.1, and are expected to be presented at such
                     meeting for action by holders of Company stock,
                     together with an appropriate form with which the
                     Participant can direct the manner of voting on such
                     matters.  If instructions on such matters are received
                     by the Committee with respect to any Company stock at
                     least ten (10) days prior to such meeting, the
                     Committee shall instruct the Trustee to vote the
                     allocated shares of Company Stock with respect to
                     which such instructions were received in accordance
                     with such instructions.

           (c)       The Committee shall instruct the Trustee as to the
                     manner of voting any Company stock in a Company Stock
                     Account of a Participant with respect to such matters
                     and as to which no such instructions have been
                     received and (ii) Company Stock held in the suspense
                     account provided for in Section 5.3 and in the Company
                     Stock Contribution Account.  The Committee shall
                     direct the Trustee to vote the shares of Company Stock
                     specified in the preceding sentence in the same
                     proportion and in the same manner as the shares
                     allocated to Company Stock Accounts with respect to
                     which timely and proper instructions by Participants
                     have been received.

           9.2 Tender Offers. If the Plan receives a written offer or offer for
tenders ("Offer") to purchase Company Stock held by the Plan, the Trustee shall
not sell or tender any shares of Company Stock held by the Plan unless
instructed to do so by the Participants, as provided below. A Participant shall
be entitled to direct the Trustee as to whether the Company Stock allocated to
his Company Stock Account will be tendered or not tendered in response to the
Offer.

           Upon receipt of an Offer, the Committee shall, as soon as
practicable, notify Participants of the Offer and the terms and conditions
thereof. Such notification may include the Company's position with respect to
the Offer and an appropriate form on which Participants can direct whether or
not, and the conditions, if any, upon which, the Company Stock allocated to a
Participant's Company Stock Account shall be sold or tendered. If no
instructions are received from a Participant within ten (10) days from the date
of notification, the shares of Company Stock allocated to his Company Stock
Account shall not be sold or tendered and it shall be conclusively presumed that
such Participant elects not to have Company Stock allocated to his Company Stock
Account sold or tendered. The Participants may also instruct the Trustee to
revoke their tender and withdraw any tender previously made.

                                    ARTICLE X

                 DIVERSIFICATION OF INVESTMENT IN COMPANY STOCK

           The provisions of this Article X shall apply to all shares of Company
stock acquired by the Plan. Provided, however, the provisions of this Article X
shall not apply to the extent the Adjusted Balance of a Participant's Company
Stock Account as of the Valuation Date immediately preceding any year during the
Qualified Election Period does not exceed Five Hundred Dollars ($500).

           10.1 Election by Qualified Participant. Each Qualified Participant
shall be permitted to direct the Committee as to the investment of a portion of
the Participant's Company Stock Account within ninety (90) days after the last
day of each Plan Year during the Participant's Qualified Election Period. Such
election may be modified, revoked or superceded by a new election at any time
during such ninety (90) day election period. The portion of a Qualified
Participant's Company Stock Account subject to such diversification election in
each of the years during such Qualified Election Period, other than the last
year of such period, shall be equal to:

           (a)       Twenty-five percent (25%) of the total number of whole
                     shares of Company Stock acquired by or contributed to the
                     Plan that have ever been allocated to the Qualified
                     Participant's Company Stock Account and which are subject
                     to this election; less

           (b)       The number of whole shares of Company Stock previously
                     distributed, transferred or diversified pursuant to this
                     Section 10.1. With respect to the last year of the
                     Qualified Election Period, "fifty percent (50%)" shall be
                     substituted for "twenty-five percent (25%)" in determining
                     the amount subject to the diversification election.

           10.2 Method of Directing Investment. A Qualified Participant's
direction shall be provided to the Committee in writing, shall be effective no
later than one hundred eighty (180) days after the close of the Plan Year in
which the direction applies and shall specify which, if any, of the options set
forth in Section 10.3 the Qualified Participant elects.

           10.3      Investment Options.

           (a)       At the election of a Qualified Participant, the Plan
                     shall distribute the portion of the Participant's
                     Company Stock Account that is covered by the election
                     within ninety (90) days after the last day of the
                     period during which the election can be made.  Such
                     distribution shall be subject to the requirements of
                     Section 6.4, concerning put options, as would
                     otherwise apply to a distribution of Company Stock
                     from the Plan.  Such distribution shall also be made
                     in accordance with the provisions of Section 8.3,
                     concerning the Committee's ability to direct that the
                     Participant receive his distribution in the form of
                     cash.  This subsection (a) shall apply notwithstanding
                     any other provisions of the Plan other than such
                     provisions as require the consent of the Participant
                     to a distribution of the Adjusted Balance of the
                     Participant's vested accounts under the Plan in excess
                     of Three Thousand Five Hundred Dollars ($3,500).  If
                     the Participant does not provide his consent to the
                     distribution in a manner which satisfies the
                     requirements of Section 8.1, such amount shall be
                     retained in the Plan.

           (b)       In lieu of distribution under subsection (a), a
                     Qualified Participant who has the right to receive a
                     distribution under subsection (a) may direct the Plan
                     to transfer the portion of the Participant's Company
                     Stock Account that is covered by the election to
                     another qualified plan of the Company which accepts
                     such transfers, provided that such plan permits
                     Employee-directed investment and does not invest in
                     Company Stock to a substantial degree.  Such transfers
                     shall be made no later than ninety (90) days after the
                     last day of the period during which the election can
                     be made.

                                   ARTICLE XI

                         FUNDING AND PLAN ADMINISTRATION

           11.1 Funding Policy. The funding policy for the Plan shall be
determined by the Company from time to time as required by ERISA. The Company
shall also establish investment guidelines for the Plan which are consistent
with the objectives of the Plan and the requirements of ERISA. At least annually
the Company shall review such investment guidelines. The Committee shall make a
written record of all actions taken with respect to establishing and reviewing
such investment guidelines. The Committee shall from time to time determine the
cash requirements of the Plan and communicate the same to the Trustee or
investment manager. The Trustee or investment manager shall make investments
consistent with the investment guidelines and the cash requirements of the Plan,
as advised by the Committee.

           11.2      Fiduciaries.

           (a)       Each Fiduciary who is allocated specific duties or
                     responsibilities under the Plan or any Fiduciary who
                     assumes such a position with the Plan shall discharge
                     his duties solely in the interest of the Participants,
                     Inactive Participants and Beneficiaries and for the
                     exclusive purpose of providing such benefits as
                     stipulated herein to such Participants, Inactive
                     Participants and Beneficiaries, or defraying
                     reasonable expenses of administering the Plan.  Each
                     Fiduciary, in carrying out such duties and
                     responsibilities, shall act with the care, skill,
                     prudence, and diligence under the circumstances then
                     prevailing that a prudent man acting in a like
                     capacity and familiar with such matters would use in
                     exercising such authority or duties.

           (b)       A Fiduciary may serve in more than one Fiduciary capacity
                     and may employ one or more persons to render advice with
                     regard to his Fiduciary responsibilities. If the Fiduciary
                     is serving as such without compensation, all expenses
                     reasonably incurred by such Fiduciary shall be reimbursed
                     by the Company or, at the Committee's direction, from the
                     Trustee.

           (c)       A Fiduciary may delegate any of his responsibilities
                     for the operation and administration of the Plan.  In
                     limitation of this right, a Fiduciary may not delegate
                     any responsibilities as contained herein relating to
                     the management or control of the Trust Fund except
                     through the employment of an investment manager as
                     provided in Section 11.4 and in the Trust Agreement
                     relating to the Trust Fund.

           11.3      Company.

           (a)       The Company, in establishing and maintaining the Plan
                     for the benefit of its Employees, and the Employees of
                     any Affiliated Company, of necessity retains control
                     of the operation and administration of the Plan.  The
                     Company, in accordance with specific provisions of the
                     Plan, has, as herein indicated, delegated certain of
                     these rights and obligations to the Trustee and the
                     Committee and these parties shall be solely
                     responsible for these, and only these, delegated
                     rights and obligations.

           (b)       The Company shall supply such full and timely information
                     for all matters relating to the Plan as (i) the Committee,
                     (ii) the Trustee, (iii) the accountant, and (iv) any other
                     agents engaged on behalf of the Plan by the Company may
                     require for the effective discharge of their respective
                     duties.

           11.4 Trustee. The Company shall appoint a bank or trust company or an
individual or individuals to act as Trustee or Trustees under the Trust
Agreement. The Trustee shall serve at the pleasure of the Company and its powers
and responsibilities shall be set forth in a Trust Agreement entered into
between the Company and the Trustee. No person who receives full-time pay from
the Company shall receive compensation paid by the Trust Fund except for
reimbursement of expenses properly incurred. All contributions made pursuant to
the Plan shall be held by the Trustee in accordance with the terms of the Trust
Agreement and Section 4.2 of the Plan for the exclusive benefit of those
Employees who are Participants under the Plan, including Inactive Participants
and their Beneficiaries, and shall be applied to provide benefits under the Plan
and to pay expenses of administration of the Plan and the Trust, to the extent
that such expenses are not otherwise paid. The Company may appoint an investment
manager or managers to manage any assets of the Plan. Likewise, with the written
consent of the Company, the Trustee may appoint an investment manager. In either
such event, the responsibility for investment decisions shall be clearly
allocated in writing between the investment manager and the Trustee and neither
shall be responsible for the action or inaction of the other.

           11.5      Benefits Committee.

           (a)       The Company shall appoint a committee of not less than
                     three (3) persons to hold office at the pleasure of
                     the Company, such committee to be known as the
                     Benefits Committee ("Committee").  No compensation
                     shall be paid members of the Committee from the Trust
                     Fund for service on such Committee.  The Committee
                     shall choose from among its members a chairman and a
                     secretary.  Any action of the Committee shall be
                     determined by the vote of a majority of its members.
                     Either the chairman or the secretary may execute any
                     certificate or written direction on behalf of the
                     Committee.  If the Company shall fail to appoint the
                     Committee, then the Company shall constitute the plan
                     administrator of the Plan and all references to the
                     Committee under the Plan shall be deemed for all
                     purposes to refer to the Company.

           (b)       The Committee shall hold meetings upon such notice, at such
                     place or places and at such time or times as the Committee
                     may from time to time determine. A majority of the members
                     of the Committee at the time in office shall constitute a
                     quorum for the transaction of business.

           (c)       All disbursements by the Trustee, except for the
                     expenses properly attributable to the administration
                     of the Plan or Trust or the reimbursement of
                     reasonable expenses at the direction of the Company,
                     as provided herein, shall be made upon, and in
                     accordance with, the written directions of the
                     Committee.  When the Committee is required in the
                     performance of its duties hereunder to administer or
                     construe, or to reach a determination, under any of
                     the provisions of the Plan, it shall do so on a
                     uniform, equitable and nondiscriminatory basis.

           (d)       The Committee shall establish rules and procedures to
                     be followed by the Participants, Inactive Participants
                     and Beneficiaries in filing applications for benefits
                     and for furnishing and verifying proofs necessary to
                     establish age and any other matters required in order
                     to establish their rights to benefits in accordance
                     with the Plan.  Additionally, the Committee shall
                     establish accounting procedures for the purpose of
                     making the allocations, valuations and adjustments to
                     Participants' accounts.  Should the Committee
                     determine that the strict application of its
                     accounting procedures will not result in an equitable
                     and nondiscriminatory allocation among the accounts of
                     Participants, it may modify its procedures for the
                     purpose of achieving an equitable and
                     nondiscriminatory allocation in accordance with the
                     general concepts of the Plan, provided, however, that
                     such adjustments to achieve equity shall not reduce
                     the vested portion of a Participant's Company Stock
                     and Other Investments Accounts.

           (e)       The Committee may employ such counsel, accountants, and
                     other agents as it shall deem advisable. The Company shall
                     pay, or cause to be paid from the Trust Fund, the
                     reasonable compensation of such counsel, accountants, and
                     other agents and any other reasonable expenses incurred by
                     the Committee in the administration of the Plan and Trust.

           (f)       All members of the Committee shall serve until their
                     resignation or dismissal by the Board and vacancies shall
                     be filled in the same manner as the original appointments.
                     The Board may dismiss any member of the Committee with or
                     without cause.

           11.6      Claims Procedures.

           (a)       The Committee shall receive all applications for
                     benefits.  Upon receipt by the Committee of such an
                     application, it shall determine all facts which are
                     necessary to establish the right of an application to
                     benefits under the provisions of the Plan and the
                     amount thereof as herein provided.  Upon request, the
                     Committee will afford the applicant the right of a
                     hearing with respect to any finding of fact or
                     determination.  The applicant shall be notified in
                     writing of any adverse decision with respect to his
                     claim within sixty (60) days after its submission.
                     The notice shall be written in a manner calculated to
                     be understood by the applicant and shall include:

                   (i)         The specific reason or reasons for the denial;

                   (ii)        Specific references to the pertinent Plan
                               provisions on which the denial is based;

                   (iii)       A description of any additional material or
                               information necessary for the applicant to
                               perfect the claim and an explanation why such
                               material or information is necessary; and

                   (iv)        An explanation of the Plan's claim review
                                   procedures.

         (b)       If special circumstances require an extension of time for
                   processing the initial claim, a written notice of the
                   extension and the reason therefor shall be furnished to the
                   claimant before the end of the initial sixty (60) day period.
                   In no event shall such extension exceed sixty (60) days.

         (c)       In the event a claim for benefits is denied or if the
                   claimant has had no response to such claim within sixty
                   (60) days of its submission (in which case the claim
                   for benefits shall be deemed to have been denied), the
                   claimant or his duly authorized representative, at the
                   claimant's sole expense, may appeal the denial to the
                   Committee within sixty (60) days of the receipt of
                   written notice of denial or sixty (60) days from the
                   date such claim is deemed to be denied.  In pursuing
                   such appeal the claimant or his duly authorized
                   representative:

                   (i)         May request in writing that the Committee review
                               the denial;

                   (ii)        May review pertinent documents; and

                   (iii)       May submit issues and comments in writing.

         (d)       The decision on review shall be made within sixty (60)
                   days of receipt of the request for review, unless
                   special circumstances require an extension of time for
                   processing, in which case a decision shall be rendered
                   as soon as possible, but not later than one hundred
                   twenty (120) days after receipt of request for review.
                   If such an extension of time is required, written
                   notice of the extension shall be furnished to the
                   claimant before the end of the original sixty (60) day
                   period.  The decision on review shall be made in
                   writing, shall be written in a manner calculated to be
                   understood by the claimant, and shall include specific
                   references to the provisions of the Plan on which such
                   denial is based.  If the decision on review is not
                   furnished within the time specified above, the claims
                   shall be deemed denied on review.

         11.7 Records. All acts and determinations of the Committee shall be
duly recorded by the secretary thereof and all such records together with such
other documents as may be necessary in exercising its duties under the Plan
shall be reserved in the custody of such secretary. Such records and documents
shall at all times be open for inspection and for the purpose of making copies
by any person designated by Monroe Bancorp. The Committee shall provide such
timely information, resulting from the application of its responsibilities under
the Plan, as needed by the Trustee and the accountant engaged on behalf of the
Plan by Monroe Bancorp, for the effective discharge of their respective duties.

         11.8      Disclosures to Participants.

         (a)       Each Participant shall be furnished with the summary plan
                   description of the Plan, as required by Sections 102(a)(1)
                   and 104(b)(1) of ERISA. Such summary plan description shall
                   be updated from time to time as required under ERISA and
                   Department of Labor regulations.

         (b)       Within nine (9) months after the December 31 Valuation Date,
                   each Participant shall be furnished with the summary annual
                   report of the Plan required by Section 104(b)(3) of ERISA, in
                   the form prescribed in Department of Labor Regulations.

         (c)       Following each December 31 Valuation Date, each Participant
                   shall be furnished with a statement reflecting the following
                   information:

                   (i)       The total balance (if any) in his Company Stock
                             and Other Investments Accounts as of the beginning
                             of the Plan Year.

                   (ii)      The aggregate amounts of all contributions to the
                             Company Stock and Other Investments Accounts and
                             net income (or loss) allocated to his Company Stock
                             and Other Investments Accounts for the Plan Year.

            (iii)  The amount of Company contributions, if any, to his Company
                   Stock and Other Investments Accounts for the Plan Year and
                   the new Adjusted Balance in each such account as of that
                   Valuation Date.

                   (iv)      The new balance in his Company Stock and Other
                             Investments Accounts as of that Valuation Date.

         (d)       The Committee shall make available for examination by
                   any Participant copies of the Plan, the Trust Agreement
                   and the latest annual report of the Plan filed (on Form
                   5500) with the Internal Revenue Service.  Upon written
                   request of any Participants, the Committee shall
                   furnish copies of such documents, and may make a
                   reasonable charge to cover the cost of furnishing such
                   copies, as provided in Department of Labor Regulations.

         11.9      No Liability.  The Company assumes no obligation or
responsibility to any of its Employees, Participants, Inactive
Participants or Beneficiaries for any act of, or failure to act,
on the part of the Committee (unless the Company is the
Committee) or the Trustee.

         11.10 Indemnity of Committee Members. The Company shall indemnify and
save harmless the members of the Committee, and each of them, from and against
any and all loss resulting from liability to which the Committee, or the members
of the Committee, may be subjected by reason of any act or conduct (except
willful misconduct or gross negligence) in their official capacities in the
administration of the Plan, including all expenses reasonably incurred in their
defense, in case the Company fails to provide such defense. The indemnification
provisions of this Section 11.10 do not relieve any Committee member from any
liability he may have under ERISA for breach of fiduciary duty. Furthermore, the
Committee members and the Company may execute a letter agreement further
delineating the indemnification agreement of this Section 11.10, provided the
letter agreement is consistent with and does not violate ERISA. The
indemnification provisions of this Section 11.10 shall extend to the Trustee
solely to the extent provided by a letter agreement executed by the Trustee and
the Company.

         11.11 Company Direction of Investment. Except to the extent the Trust
Fund is determined by the Company or Committee to be invested in Company Stock,
the Company has the right to direct the Trustee with respect to the investment
and reinvestment of assets comprising the Trust Fund only if the Trustee
consents in writing to permit such direction. If the Trustee consents to Company
direction of investment, the Trustee and the Company must execute a letter
agreement which contains such conditions, limitations and other provisions they
deem appropriate before the Trustee shall be obligated to follow any Company
direction with respect to the investment or reinvestment of any part of the
Fund.

         11.12 Amendment to Vesting Schedule. Although the Company reserves the
right to amend the vesting schedules contained in Sections 2.38 and 7.7 at any
time, the Committee shall not apply the amended vesting schedule to reduce the
nonforfeitable percentage of any Participant's accounts (determined as of the
later of the date the Company adopts the amendment, or the date the amendment
becomes effective) to a percentage less than the nonforfeitable percentage
computed under the Plan without regard to the amendment. If the Company makes a
permissible amendment to the vesting schedule, each Participant having at least
three (3) years of Vesting Service with the Company may elect to have the
percentage of his nonforfeitable accounts computed under the Plan without regard
to the amendment. For Plan Years beginning prior to January 1, 1989, the
election described in the preceding sentence applies only to Participants having
at least five (5) years of Vesting Service with the Company.

         The Participant must file his election with the Committee within sixty
(60) days of the latest of (a) the Company's adoption of the amendment; (b) the
effective date of the amendment; or (c) his receipt of a copy of the amendment.
The Committee, as soon as practicable, must forward a true copy of any amendment
to the vesting schedule to each affected Participant, together with an
explanation of the effect of the amendment, the appropriate form upon which the
Participant may make an election to remain under the vesting schedule provided
under the Plan prior to the amendment and notice of the time within which the
Participant must make an election to remain under the prior vesting schedule.
For purposes of this Section 11.12, an amendment to the vesting schedule
includes any Plan amendment which directly or indirectly affects the computation
of the nonforfeitable percentage of a Participant's rights to his accounts.

         11.13 Discretionary Powers and Authority of the Company and Committee.
The Company and the Committee shall have any and all power and authority
(including discretion with respect to the exercise of that power and authority)
which shall be necessary, properly advisable, desirable or convenient to enable
them to carry out their responsibilities under the Plan and Trust. By way of
illustration and not limitation, the Company and Committee are empowered and
authorized to (a) make rules and regulations with respect to the Plan and Trust
which are not inconsistent with the provisions of the Plan and Trust, the Code
or ERISA; (b) determine, consistently therewith, all questions that may arise
concerning coverage, eligibility, benefits, status and rights of any person
claiming particular status under the Plan, including without limitation
Participants, Inactive Participants, former Participants, Beneficiaries and the
spouses and beneficiaries thereof; and (c) subject to and consistent with the
Code and ERISA, to construe and interpret the Plan and correct any defect,
supply any omissions or reconcile any inconsistencies in the Plan. Subject to
the provisions of Section 11.6, such action shall be final, conclusive and
binding upon all persons, whether or not claiming benefits under the Plan.

                                   ARTICLE XII

                      AMENDMENT AND TERMINATION OF THE PLAN

         12.1      Amendment of the Plan.

         (a)       Company's Right to Amend.  The Company shall have the
                   right at any time by action of the Board to modify,
                   alter or amend the Plan in whole or in part; provided,
                   however, that the duties, powers and liabilities of the
                   Trustee hereunder shall not be increased without its
                   written consent; and provided, further, that the amount
                   of benefits which, at the time of any such
                   modification, alteration or amendment, shall appear as
                   a credit in the accounts under the Plan of any
                   Participant, Inactive Participant or Beneficiary
                   hereunder shall not be adversely affected or reduced
                   thereby; and provided, further, that no such amendment
                   shall have the effect of revesting in the Company any
                   part of the principal or income of the Trust Fund.

         (b)       Section 411(d)(6) Protected Benefits.  No amendment to
                   the Plan (including the adoption of this Plan as a
                   restatement of an existing plan) may decrease a
                   Participant's Company Stock or Other Investments
                   Account balance except to the extent permitted under
                   Section 412(c)(8) of the Code, and may not reduce or
                   eliminate Section 411(d)(6) protected benefits
                   determined immediately prior to the adoption date (or,
                   if later, the effective date) of the amendment.  An
                   amendment reduces or eliminates Section 411(d)(6)
                   protected benefits if the amendment has the effect of
                   either (i) eliminating or reducing an early retirement
                   benefit or a retirement-type subsidy (as defined in
                   Treasury Regulations), or (ii) except as provided by
                   Treasury Regulations, eliminating an optional form of
                   benefit.  The Committee shall disregard an amendment to
                   the extent application of the amendment would fail to
                   satisfy this subsection (b).  If the Committee must
                   disregard an amendment because the amendment would
                   violate either (i) or (ii) above, the Committee shall
                   maintain a schedule of the early retirement option or
                   other optional forms of benefits the Plan must continue
                   for the affected Participants.

         12.2      Termination of the Plan.

         (a)       The Company expects to continue the Plan indefinitely,
                   but continuance is not assumed as a contractual
                   obligation.  Monroe Bancorp reserves the right at any
                   time by action of its Board to terminate the Plan by
                   resolution of the Board or to reduce or cease
                   contributions at any time if it determines that
                   business, financial or other good cause make it
                   necessary or desirable to do so.  Upon termination,
                   partial termination or permanent discontinuance of
                   contributions to the Plan, the Board shall give written
                   notice of permanent discontinuance to the Trustee and
                   participating Affiliated Companies.  Upon termination
                   or partial termination of the Plan or complete
                   discontinuance of contributions under the Plan, the
                   rights of all affected Employees to the amounts
                   credited to their accounts under the Plan shall be
                   nonforfeitable.

         (b)       In the event of termination of the Plan, or the sale,
                   to an entity that is not an Affiliated Company, of
                   substantially all of the assets used by the Company in
                   the trade or business in which the Participant is
                   employed, the Committee shall value the Trust Fund as
                   of the date of such termination or sale of assets.  If,
                   as of the date the Plan is terminated, a Loan is
                   outstanding, the shares of Company Stock held in the
                   suspense account referred to in Section 6.1 as of such
                   date and pledged as collateral for such Loan (or the
                   proceeds from the sale of such Company Stock) shall be
                   applied by the Trustee solely to discharge the Loan.
                   The accounts of the Participants, Inactive Participants
                   and Beneficiaries as determined by the Committee, shall
                   continue to be administered as a part of the Trust Fund
                   or distributed in a single sum to such Participants,
                   Inactive Participants or Beneficiaries, as determined
                   by the Committee.

         12.3 Limitation on Amendment or Termination. Notwithstanding the
provisions of Sections 12.1 and 12.2, the Company shall not terminate the Plan,
or make any amendment to the Plan while any Debt or Loan shall remain
outstanding and unpaid in whole or in part, without the prior written consent to
any such termination or amendment by all holders and guarantors, if any, of the
Plan's obligations under such Debt or Loan. Where any holder or guarantor has a
representative on the Committee, such prior written consent will not be required
if such representative approves the amendment.

                                  ARTICLE XIII

                                  MISCELLANEOUS

         13.1 Governing Law. The Plan shall be construed, regulated and
administered according to the laws of the State of Indiana, except in those
areas preempted by the laws of the United States of America in which case such
laws will control.

         13.2 Headings and Gender. The headings and subheadings in the Plan have
been inserted for convenience of reference only and shall not affect the
construction of the provisions hereof. In any necessary construction the
masculine shall include the feminine and the singular the plural, and vice
versa.

         13.3 Administration Expenses The expenses of administering the Trust
Fund and the Plan may be paid either by the Company or from the Trust Fund.

         13.4 Participant's Rights; Acquittance. No Participant shall acquire
any right to be retained in the Company's employ by virtue of the Plan, nor,
upon his dismissal, or upon his voluntary termination of employment, shall he
have any right or interest in and to the Trust Fund other than as specifically
provided herein. The Company shall not be liable for the payment of any benefit
provided for herein; all benefits hereunder shall be payable only from the Trust
Fund.

         13.5 Spendthrift Clause. No benefit or interest available hereunder
will be subject to assignment or alienation, either voluntarily or
involuntarily. The preceding sentence shall also apply to the creation,
assignment, or recognition of a right to any benefit payable with respect to a
Participant pursuant to a domestic relations order, unless such order is
determined to be a qualified domestic relations order, as defined in Section
414(p) of the Code.

         13.6      Merger, Consolidation or Transfer.

         (a)       In the event of the merger or consolidation of the Plan
                   with another plan, no Participant, Inactive Participant
                   or Beneficiary shall, as a result of such event, be
                   entitled on the day following such merger,
                   consolidation or transfer under the termination of the
                   Plan provisions to a lesser benefit than the benefit he
                   was entitled to on the date prior to the merger,
                   consolidation or transfer if the Plan had then
                   terminated.  Neither the Company, the Committee nor the
                   Trustee shall accept a transfer of benefits or
                   liabilities to the Plan from any other plan.  The
                   Trustee shall not consent to, or be a party to a
                   merger, consolidation or transfer of assets with a
                   Defined Benefit or Defined Contribution Plan, except
                   with respect to an elective transfer.  The Trustee
                   shall hold, administer and distribute the transferred
                   assets as a part of the Fund and the Trustee must
                   maintain a separate account for the benefit of the
                   Employee on whose behalf the Trustee accepted the
                   transfer in order to reflect the value of the
                   transferred assets.  Unless a transfer of assets to
                   this Plan is an elective transfer, the Plan will
                   preserve all Section 411(d)(6) protected benefits with
                   respect to those transferred assets, in the manner
                   described in Section 12.2.

         (b)       For purposes of this Section 13.6, a transfer is an
                   elective transfer if: (a) the transfer satisfied
                   subsection (a) of this Section 13.6; (b) the transfer
                   is voluntary and under a fully informed election by the
                   Participant; (c) the Participant has an alternative
                   that retains his Section 411(d)(6) protected benefits
                   (including an option to leave his benefit in the
                   transferor plan, if that plan is not terminating); (d)
                   the transfer satisfied the applicable spousal consent
                   requirements of the Code; (e) the transferor plan
                   satisfied the qualified joint and survivor annuity
                   notice requirements of the Code, if the Participant's
                   transferred benefit is subject to those requirements;
                   (f) the Participant has a right to an immediate
                   distribution from the transferor plan, in lieu of the
                   elective transfer; (g) the transferred benefit is at
                   least the greater of the single sum distribution
                   provided by the transferor plan for which the
                   Participant is eligible or the present value of the
                   Participant's accrued benefit under the transferor plan
                   payable at that plan's normal retirement age; (h) the
                   Participant has a one hundred percent (100%)
                   nonforfeitable interest in the transferred benefit; and
                   (i) the transfer otherwise satisfied the Treasury
                   Regulations promulgated under Section 411(d)(6) of the
                   Code.

         13.7 Counterparts. The Plan and the Trust Agreement may be executed in
any number of counterparts, each of which shall constitute but one and the same
instrument and may be sufficiently evidenced by any one counterpart.

         13.8 Mistake of Fact. Notwithstanding anything herein to the contrary,
upon the Company's request, a contribution which was made by a mistake of fact,
or conditioned upon the initial qualification of the Plan, either may be
returned to the Company by the Trustee within one (1) year after the payment of
the Contribution or the denial of the qualification, whichever is applicable,
or, only if permitted under the Code, be carried over to a future year.
Contributions to the Trustee are specifically conditioned upon the receipt of a
determination from the Internal Revenue Service that the Plan initially
satisfies the requirements of Sections 401(a) and 4975(e)(7) of the Code. In the
event of an adverse determination by the Internal Revenue Service, all Trust
assets held may be returned by the Trustee to the Company (within one year after
such determination) upon its request.

         13.9 No Enlargement of Employment Rights. Nothing contained in the Plan
shall be construed as a contract of employment between the Company and any
person, nor shall the Plan be deemed to give any person the right to be retained
in the employ of the Company or limit the right of the Company to employ or
discharge any person with or without cause, or to discipline any Employee.

         13.10 No Guarantee. Neither the Trustee, the Committee, nor the Company
in any way guarantees the assets in the Trust from loss or depreciation nor the
payment of any money or other assets which may be or become due to any person
from the Plan.

No Participant, Inactive Participant or Beneficiary shall have any recourse
against the Trustee, the Company or the Committee if Plan assets are
insufficient to provide benefits under the Plan.

         13.11 Federal and State Securities Law Compliance.

         (a)       Each Participant or Beneficiary may be required by the
                   Committee, prior to the transfer of Company Stock to
                   such Participant or Beneficiary, to execute and deliver
                   an agreement, in form and substance acceptable to the
                   Committee, certifying such person's intent to hold such
                   Company Stock and containing such other representations
                   and agreements relating to the Company Stock as the
                   Committee may reasonably request;

         (b)       The Committee shall take all necessary steps to comply with
                   any applicable registration or other requirements of federal
                   or state securities laws from which no exemption is
                   available; and

         (c)       Stock certificates distributed to Participants may bear such
                   legends concerning restrictions imposed by federal or state
                   securities laws, and concerning other restrictions and rights
                   under the Plan, as the Committee in its discretion may
                   determine.

         13.12 Prudent Man Rule. Notwithstanding any other provision of this
Plan, and the Trust Agreement, the Trustee, the Committee and the Company shall
exercise their powers and discharge their duties under the Plan and Trust
Agreement for the exclusive purpose of providing benefits to Employees and their
Beneficiaries, and shall act with the care, skill and diligence under the
circumstances that a prudent man acting in a like capacity and familiar with
such matters would use in the conduct of an enterprise of a like character and
with like aims.

         13.13 Limitations on Liability. Notwithstanding any of the preceding
provisions of the Plan, none of the Trustee, the Company, the Committee and each
individual acting as an employee or agent of any of them shall be liable to any
Participant, Inactive Participant, Employee or Beneficiary for any claim, loss,
liability or expense incurred in connection with the Plan, except when the same
shall have been judicially determined to be due to the gross negligence or
willful misconduct of such person.

                                   ARTICLE XIV

                              ADOPTION OF THE PLAN

         This Plan, as amended and restated, is intended to constitute an
employee stock ownership plan and meet the requirements of Sections 401(a), 409,
and 4975(d)(3) and (e)(7) of the Code, and Sections 407(d)(6) and 408(b)(3) of
ERISA, to the extent applicable, as now in effect or hereafter amended, so that
the income of the Trust Fund may be exempt from taxation under Section 501(a) of
the Code, contributions of the Company under the Plan may be deductible for
Federal income tax purposes under Section 404 of the Code, and Loans to the
Trustee will be exempt under Section 4975(d)(2) of the Code and Section
408(b)(3) of ERISA from the prohibited transaction provisions of Section 4975(c)
of the Code and Section 406 of ERISA, all as now in effect or hereafter amended.
Any modification or amendment of the Plan may be made retroactively, as
necessary or appropriate, to establish and maintain such qualification and to
meet any requirement of the Code or ERISA.

<PAGE>

                                   SIGNATURES

         As evidence of its adoption of this amended and restated Plan, Monroe
Bancorp has caused this instrument to be signed by its officers thereunder duly
authorized this day of , 1994, but generally effective as of January 1, 1991,
unless otherwise specified herein or required by applicable law.

                                            MONROE BANCORP

                                            By:
                                               David D. Baer, President

ATTEST:  [SEAL]

By:
   R. Scott Walters,
   Vice President and Trust Officer

                                       -2-

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