Document:

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                                                                   EXHIBIT 10.10

                             The New D&B Corporation
                              One Diamond Hill Road
                          Murray Hill, New Jersey 07974

                                     September 30, 2000

Steven B. Witznitzer, Esq.
R.H. Donnelley Corporation
One Manhattanville Road
Purchase, New York  10577

Dear Sir:

           Reference is made to the Distribution Agreement (the "1998
Distribution Agreement"), dated as of June 30, 1998, between The Dun &
Bradstreet Corporation, now known as "R.H. Donnelley Corporation" ("Historical
D&B"), and The New Dun & Bradstreet Corporation, now known as "The Dun &
Bradstreet Corporation" ("D&B"). D&B has announced its intention to separate
into two separate companies through a distribution (the "2000 Distribution") to
its stockholders of all of the shares of common stock of its subsidiary The New
D&B Corporation ("New D&B"). In Section 8.9(b) of the 1998 Distribution
Agreement, D&B agreed not to make a distribution such as the 2000 Distribution
unless it caused the distributed entity to undertake to Historical D&B to be
jointly and severally liable for all D&B Liabilities (as defined in the 1998
Distribution Agreement). Therefore, in accordance with Section 8.9(b) of the
1998 Distribution Agreement and intending to be legally bound hereby, from and
after the effective time of the 2000 Distribution, New D&B undertakes to
Historical D&B to be jointly and severally liable with D&B for all D&B
Liabilities under the 1998 Distribution Agreement.

                                           Very truly yours,

                                           THE NEW D&B CORPORATION

                                           By: /s/ David J. Lewinter
                                               ---------------------------------

                                               Name: David J. Lewinter
                                               Title: President and Secretary<PAGE>   1

                                  EXHIBIT 4(c)

                                  ENDORSEMENT

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AN ENDORSEMENT TO PROVIDE A SUPPLEMENTAL DEATH BENEFIT, KNOWN AS THE "EARNINGS
APPRECIATOR"

THIS ENDORSEMENT IS PART OF THE CONTRACT TO WHICH IT IS ATTACHED AND IS
EFFECTIVE UPON THE ENDORSEMENT'S ISSUANCE. IN THE CASE OF A CONFLICT WITH ANY
OTHER PROVISION IN THE CONTRACT, THE PROVISIONS OF THIS ENDORSEMENT WILL
CONTROL.
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THE CONTRACT DATA PAGES ARE AMENDED TO INCLUDE THE FOLLOWING SECTION:

EARNINGS APPRECIATOR CHARGE:

If you elect the Earnings Appreciator supplemental death benefit, the amount of
the charge depends on the death benefit option that you have elected. The
charge for the Earnings Appreciator supplemental death benefit is deducted from
your Contract Value on each Contract Anniversary and upon certain other
transactions. The charge is deducted pro-rata from all Allocation Options to
which your Contract Value is allocated. If you elected a GMDB feature, the
Earnings Appreciator charge is an effective annual rate of [0.15%] of your
Contract Value. If you did not elect a GMDB feature, the Earnings Appreciator
charge is an effective annual rate of [0.20%] of your Contract Value. Your
Contract Data pages show whether you elected a GMDB feature.

THE FOLLOWING SECTION IS ADDED TO THE CONTRACT:

EARNINGS APPRECIATOR (SUPPLEMENTAL DEATH BENEFIT)

An Earnings Appreciator is an optional supplemental death benefit that
provides, depending on the appreciation of the Contract Value, a supplemental
payment upon the death of the sole or last surviving Owner during the
Accumulation Period. If a payment is made, it will be in addition to any other
death benefit payment made under this Contract. If the Earnings Appreciator is
available at the time you apply for your Contract, you must elect the Earnings
Appreciator at that time if you want the benefit. Once elected, the Earnings
Appreciator cannot be revoked. The calculations of this benefit and the related
charge are described below.

                                       9

<PAGE>   2

EARNINGS APPRECIATOR BENEFIT:

Upon receipt of due proof of death and any other documentation we need, the
Earnings Appreciator Benefit is calculated for each Purchase Payment. For each
Purchase Payment, the Earnings Appreciator Benefit is a percentage of the
lesser of (1) the Adjusted Purchase Payment (defined below) and (2) the
earnings attributed to the Adjusted Purchase Payment. For Contracts with an
Owner younger than age 66 on the date the application is signed, the Earnings
Appreciator percentage is 45%. For Contracts with an Owner age 66 or older on
the date the application is signed, the Earnings Appreciator percentage is 25%.
In cases of Joint Owners, the age of the older of the Owner or Joint Owner
determines the Earnings Appreciator percentage. The total Earnings Appreciator
Benefit is the sum of the Earnings Appreciator Benefits for all of your
Purchase Payments. The Earnings Appreciator Benefit is added to any other death
benefit payment under this Contract.

Each "Adjusted Purchase Payment" is the Invested Purchase Payment reduced
pro-rata by any subsequent withdrawals. Reduction on a pro-rata basis means
that we calculate the percentage of your current Contract Value being withdrawn
and reduce each Adjusted Purchase Payment made prior to the withdrawal by that
percentage. For example, if your Contract Value is $40,000 and you withdraw
$10,000, you have withdrawn 25% of your Contract Value. If you have two
Adjusted Purchase Payments prior to the withdrawal ($10,000 and $20,000), each
of those Adjusted Purchase Payments would be reduced by 25% (to $7,500 and
$15,000). The amount of earnings allocated to each Adjusted Purchase Payment is
also reduced by the same percentage. For purposes of this Earnings Appreciator
calculation, it does not matter from which Allocation Option(s) the withdrawal
is made. The Adjusted Purchase Payment amount is used only in connection with
the Earnings Appreciator calculations.

Earnings are periodically allocated to each Adjusted Purchase Payment on a
pro-rata basis in the manner described in this paragraph. We calculate the
amount of earnings since the last earnings allocation and we allocate those
earnings proportionately among the Adjusted Purchase Payments (based on the
amount of each Adjusted Purchase Payment plus the earnings previously allocated
to that Adjusted Purchase Payment). For example, if you have two Adjusted
Purchase Payments - one with an Adjusted Purchase Payment and allocated
earnings of $30,000 and the other with an Adjusted Purchase Payment and
allocated earnings of $20,000 (therefore 60% and 40% of the total respectively)
-- and your Contract Value has increased by $5,000 due to earnings since the
last earnings allocation, 60% of the earnings ($3,000) will be allocated to the
first Adjusted Purchase Payment and 40% ($2,000) will be allocated to the
second Adjusted Purchase Payment. For purposes of this calculation only, we
assume that each Adjusted Purchase Payment earns the same rate of return for
each calculation period. In other words, this calculation does not depend on
the specific Allocation Options in which the Purchase Payment was initially
invested. When allocating earnings at the time of a death benefit payment, we
will first deduct from earnings the amount of any charges or other amounts
deducted from your Contract Value at that time.

                                       10

<PAGE>   3

EARNINGS APPRECIATOR CHARGE:

To compensate us for assuming the risks associated with the Earnings
Appreciator, we deduct from your Contract Value a charge based on a percentage
of your Contract Value. The percentage depends on the death benefit option that
you have elected, as shown on the Contract Data pages.

The Earnings Appreciator Charge is calculated: (1) on each Contact Anniversary;
(2) on the Annuity Date; (3) upon death of the owner prior to the Annuity Date;
(4) upon a full or partial withdrawal; and (5) upon a subsequent Purchase
Payment. The fee is based on the Contract Value at the time of the calculation
and is pro-rated based on the portion of the Contract Year since the date that
the Earnings Appreciator Charge was last calculated.

Although the Earnings Appreciator Charge may be calculated more often, it is
deducted only: (1) on each Contact Anniversary; (2) on the Annuity Date; (3)
upon death of the owner prior to the Annuity Date; (4) upon a full withdrawal;
and (5) upon a partial withdrawal if the Contract Value remaining after such
partial withdrawal is not enough to cover the then applicable Earnings
Appreciator Charge. If the Earnings Appreciator Charge is calculated on a date
but is not deducted on that date (such as on the date of a subsequent Purchase
Payment), the charge is accrued and deducted on the next deduction date (such
as a Contract Anniversary). We reserve the right to calculate and deduct the
fee more frequently than annually, such as quarterly.

The Earnings Appreciator Charge is deducted from each Allocation Option in the
same proportion that the Contract Value allocated to an Allocation Option bears
to the total Contract Value. Upon a full withdrawal or if the Contract Value
remaining after a partial withdrawal is not enough to cover the then applicable
Earnings Appreciator Charge, the Earnings Appreciator Charge is deducted from
the amount paid.

The payment of the Earnings Appreciator charge will not reduce the Adjusted
Purchase Payments for purposes of calculating subsequent Earnings Appreciator
charges. The payment of the Earnings Appreciator charge will be deemed to be
made from Earnings for purposes of calculating other charges.

                                       11<PAGE>   1
                                                                     EXHIBIT 4.5

                        FRIEDMAN INDUSTRIES, INCORPORATED

                      2000 NON-EMPLOYEE DIRECTOR STOCK PLAN

SECTION 1.  Purpose.

         The purpose of the Friedman Industries, Incorporated 2000 Non-Employee
Director Stock Plan is to promote the interests of Friedman Industries,
Incorporated and its shareholders by providing it with a mechanism to enable the
Company to attract and retain persons with outstanding qualifications to serve
as directors of the Company and to provide the directors with a financial
interest in the Company through the ownership of stock of the Company.

SECTION 2.  Definitions.

         (A) "Award" shall mean an award of Common Stock pursuant to Section 6
of the Plan.

         (B) "Board" shall mean the Board of Directors of the Company.

         (C) "Committee" shall mean a committee of one or more members of the
Board appointed by the Board.

         (D) "Common Stock" shall mean the Common Stock of the Company, $1.00
par value per share, subject to adjustment pursuant to Section 10 of the Plan.

         (E) "Company" shall mean Friedman Industries, Incorporated, a Texas
corporation.

         (F) "Employee Director" shall mean a member of the Board who is an
employee of the Company.

         (G) "Exchange Act" shall mean the Securities Exchange Act of 1934, as
amended.

         (H) "Grant Date" shall mean the date on which an Award of Common Stock
is granted to an Outside Director pursuant to Section 6 of the Plan.

         (I) "Outside Director" shall mean a member of the Board who is not an
employee of the Company.

         (J) "Plan" shall mean this Friedman Industries, Incorporated 2000
Non-Employee Director Stock Plan.

         (K) "Securities Act" shall mean the Securities Act of 1933, as amended.

<PAGE>   2
SECTION 3.  Administration.

         The Plan shall be administered by the Committee. The Committee shall
have full power, discretion and authority to interpret and administer the Plan,
except that the Committee shall have no power to determine the eligibility for,
the number of shares of Common Stock to be covered by or the timing of Awards to
be granted pursuant to the Plan. The Committee's interpretations and actions,
except as otherwise determined by the Board, shall be final, conclusive and
binding on all persons for all purposes. The Committee may authorize any one or
more of their number or any officer of the Company to execute and deliver
documents on behalf of the Committee.

         No member of the Committee shall be liable for any action taken or
omitted to be taken by him or by any other member of the Committee in connection
with the Plan, except for his own willful misconduct or as expressly provided by
statute.

SECTION 4.  Eligibility.

         The only persons eligible to participate in the Plan shall be Outside
Directors. An Employee Director who retires from employment with the Company
shall become eligible to participate in the Plan and shall be entitled to
receive an award upon re-election as an Outside Director as provided in Section
6 hereof.

SECTION 5.  Stock Subject to the Plan.

         There shall be reserved for Awards under the Plan an aggregate of
11,600 shares of Common Stock. Such shares shall be, in whole or in part,
authorized but unissued shares of Common Stock or previously issued and
outstanding shares that have been reacquired by the Company.

SECTION 6.  Grants of Awards.

         On October 15, 2000 and on each October 15 thereafter, for so long as
this Plan is in effect and shares are available for the grant of Awards
hereunder, there shall be granted automatically hereunder and hereby to each
Outside Director who has served as a director of the Company for at least the 12
immediately preceding calendar months, 400 shares of Common Stock.

SECTION 7.  Mergers and Other Corporate Changes.

         The existence of this Plan shall not affect in any way the right or
power of the Company or its shareholders to make or authorize any or all
adjustments, recapitalizations, reorganizations or other changes in the
Company's capital structure or its business, or any merger or consolidation of
the Company, or any issue of bonds, debentures, preferred or prior preference
stock ahead of or affecting the Common Stock or the rights thereof, or the
dissolution or liquidation of the Company, or any sale or transfer of all or any
part of its assets or business, or any other corporate act or proceeding,
whether of a similar character or otherwise.

                                      -2-
<PAGE>   3
         If the Company merges or consolidates with another corporation and is
not a surviving corporation, or if the Company is liquidated or sells or
otherwise disposes of substantially all its assets, this Plan automatically
terminates on the effective date of such merger, consolidation, liquidation,
sale or other disposition, as the case may be.

SECTION 8.  Requirements of Law.

         The Company may, but shall in no event be obligated to, register any
securities covered hereby pursuant to applicable securities laws of any country
or any political subdivision. In the event any shares issued pursuant to the
Plan are not registered, the Company may imprint on the certificate evidencing
such shares any legend that counsel for the Company considers necessary or
advisable to comply with applicable law. The Company shall not be obligated to
take any other affirmative action in order to cause the issuance of shares
pursuant hereto to comply with any law or regulation of any governmental
authority.

SECTION 9.  Withholding Taxes.

         At the time of any Award hereunder, the Outside Director shall pay to
the Company, or the Company may deduct from any other compensation payable to
such Outside Director, the amount of any federal, state or local taxes of any
kind required by law to be withheld by the Company with respect thereto. If any
such amounts must be withheld by the Company and the Outside Director elects to
pay such sums directly, written notice of that election shall be delivered to
the Company prior to the grant of such Award, and payment in cash or by check of
such sums for taxes shall be delivered within ten days after the date on which
any taxes become due.

SECTION 10. Adjustment in the Event of Changes of Common Stock.

         In the event of any change in the outstanding Common Stock of the
Company by reason of any stock split, stock dividend (other than stock dividends
of 5% or less, which shall not trigger an adjustment in the number of shares
constituting an Award), recapitalization or other similar change in
capitalization, the aggregate number and class of Common Stock available for
grant under the Plan, and the number or kind of shares that would be granted
under an Award under Section 6, shall be appropriately adjusted by the
Committee, whose determination shall be conclusive.

SECTION 11.  Amendments and Termination.

         The Board may at any time terminate, modify or amend the Plan in such
respects as it shall deem advisable, subject to any contrary requirement (i) by
law, (ii) by any applicable rules and regulations of, or any agreement with, the
American Stock Exchange, Inc. or any other national securities exchange on which
the Common Stock may then be listed or (iii) in order to make available to any
recipient of an Award the benefits of Rule 16b-3 of the Rules and Regulations
under the Exchange Act or any similar or successor rule.

                                      -3-
<PAGE>   4
SECTION 12.  Miscellaneous Provisions.

         (A) Nothing in the Plan or any grant shall confer upon any Outside
Director the right to be nominated for re-election to the Board.

         (B) An Outside Director's rights and interest under the Plan may not be
assigned or transferred in whole or in part, either directly or by operation of
law or otherwise (except pursuant to a state domestic relations order or, in the
event of an Outside Director's death, by will or the laws of descent and
distribution), including, but not by way of limitation, execution, levy,
garnishment, attachment, pledge, bankruptcy or in any other manner, and no such
right or interest of any Outside Director in the Plan shall be subject to any
obligation or liability of such individual.

         (C) No shares shall be granted hereunder unless counsel for the Company
shall be satisfied that such grant will be in compliance with applicable
federal, state or other securities laws.

         (D) The expenses of the Plan shall be borne by the Company.

         (E) By accepting any Award under the Plan, each Outside Director or
beneficiary claiming under or through him or her shall be conclusively deemed to
have indicated his or her acceptance and ratification of, and consent to, any
action taken under the Plan by the Committee or the Board.

         (F) The appropriate officers of the Company shall cause to be filed any
reports, return or other information regarding Awards hereunder or any Common
Stock issued pursuant hereto as may be required by Section 13 or 15(d) of the
Exchange Act, or any other applicable statute, rule or regulation.

SECTION 13.  Effectiveness of the Plan.

         The Plan shall be effective October 15, 2000.

SECTION 14.  Governing Law.

         The provisions of this Plan shall be interpreted and construed in
accordance with the laws of the State of Texas.

                                      -4-

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