Document:

FORM OF
                        LAWRENCE FINANCIAL HOLDINGS, INC.
                              EMPLOYMENT AGREEMENT

         This AGREEMENT  ("Agreement") is made effective as of_________________,
by and between Lawrence  Financial  Holdings,  Inc. (the "Holding  Company"),  a
corporation  organized under the laws of Maryland with its principal  offices at
311 South Fifth Street, Ironton, Ohio 45638-1609 and ____________ ("Executive").
Any reference to  "Institution"  herein shall mean Lawrence Federal Savings Bank
or any successor thereto.

         WHEREAS, the Holding Company wishes to assure itself of the services of
Executive for the period provided in this Agreement; and

         WHEREAS, the Executive is willing to serve in the employ of the Holding
Company on a full-time basis for said period.

         NOW,  THEREFORE,  in  consideration  of  the  mutual  covenants  herein
contained,  and upon the other terms and conditions  hereinafter  provided,  the
parties hereby agree as follows:

1. POSITION AND RESPONSIBILITIES.

         During the period of Executive's employment hereunder, Executive agrees
to serve as ______________________of the Holding Company. Executive shall render
administrative  and  management  services  to the  Holding  Company  such as are
customarily  performed by persons in a similar executive  capacity.  During said
period, Executive also agrees to serve, if elected, as an officer or director of
any subsidiary of the Holding Company.

2. TERMS.

         (a) The period of Executive's  employment under this Agreement shall be
deemed to have  commenced as of the date first above written and shall  continue
for a period of thirty-six (36) full calendar months  thereafter.  Commencing on
the date of the execution of this Agreement, the term of this Agreement shall be
extended  for one day each day until such time as the board of  directors of the
Holding Company (the "Board") or Executive  elects not to extend the term of the
Agreement by giving written notice to the other party in accordance with Section
8 of this Agreement, in which case the term of this Agreement shall be fixed and
shall end on the third anniversary of the date of such written notice.

         (b) During the period of Executive's  employment hereunder,  except for
periods of absence  occasioned  by illness,  reasonable  vacation  periods,  and
reasonable  leaves of absence,  Executive  shall  devote  substantially  all his
business time, attention,  skill, and efforts to the faithful performance of his
duties hereunder, including activities and services related to the organization,
operation  and  management  of the  Holding  Company  and its direct or indirect
subsidiaries  ("Subsidiaries") and participation in community,  professional and
civic organizations; provided,

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however,  that,  with the approval of the Board, as evidenced by a resolution of
such Board, from time to time, Executive may serve, or continue to serve, on the
boards of directors of, and hold any other offices or positions in, companies or
organizations, which, in such Board's judgment, will not present any conflict of
interest with the Holding Company or its Subsidiaries,  or materially affect the
performance of Executive's duties pursuant to this Agreement.

         (c)   Notwithstanding   anything  herein  contained  to  the  contrary,
Executive's employment with the Holding Company may be terminated by the Holding
Company or Executive during the term of this Agreement, subject to the terms and
conditions  of this  Agreement.  However,  Executive  shall not perform,  in any
respect,  directly  or  indirectly,  during the  pendency  of his  temporary  or
permanent   suspension  or  termination   from  the   Institution,   duties  and
responsibilities formerly performed at the Institution as part of his duties and
responsibilities as ________________ of the Holding Company.

3. COMPENSATION AND REIMBURSEMENT.

         (a) Executive shall be entitled to a salary from the Holding Company or
its Subsidiaries of  $__________________  per year ("Base Salary").  Base Salary
shall  include  any amounts of  compensation  deferred  by  Executive  under any
tax-qualified   retirement  or  welfare  benefit  plan  or  any  other  deferred
compensation arrangement maintained by the Holding Company and its Subsidiaries.
Such Base  Salary  shall be payable in  accordance  with the  Holding  Company's
payroll practices. During the period of this Agreement,  Executive's Base Salary
shall be reviewed at least annually; the first such review will be made no later
than one year from the date of this Agreement. Such review shall be conducted by
the Board or by a Committee of the Board  delegated such  responsibility  by the
Board.  The Committee or the Board may increase  Executive's  Base Salary at any
time.  Any increase in Base Salary  shall  become "Base  Salary" for purposes of
this  Agreement.  In addition to Base Salary  provided in this Section 3(a), the
Holding Company shall also provide  Executive,  at no premium cost to Executive,
with all such other  benefits  as  provided  uniformly  to  permanent  full-time
employees of the Holding Company and its  Subsidiaries.  In addition,  Executive
shall be entitled to incentive  compensation and bonuses as provided in any plan
or arrangement of the Holding Company or its  Subsidiaries in which Executive is
eligible to participate.

         (b) Executive shall be entitled to participate in any employee  benefit
plans,  arrangements and perquisites  substantially equivalent to those in which
Executive was participating or otherwise deriving benefit from immediately prior
to the beginning of the term of this Agreement,  and the Holding Company and its
Subsidiaries  will not,  without  Executive's  prior written  consent,  make any
changes in such  plans,  arrangements  or  perquisites  which  would  materially
adversely affect Executive's rights or benefits thereunder, except to the extent
that such changes are made  applicable  to all Holding  Company and  Institution
employees eligible to participate in such plans, arrangements and perquisites on
a  non-discriminatory  basis.  Without  limiting the generality of the foregoing
provisions of this Subsection (b), Executive shall be

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entitled to participate in or receive benefits under all plans relating to stock
options, restricted stock awards, stock purchases, pension, thrift, supplemental
retirement,  profit-sharing,  employee stock  ownership,  group life  insurance,
medical and other health and welfare coverage,  education, cash or stock bonuses
that  are  now or  hereafter  made  available  by  the  Holding  Company  or its
Subsidiaries to its senior executives and key management  employees,  subject to
and on a basis consistent with the terms,  conditions and overall administration
of such  plans  and  arrangements.  Executive  shall be  entitled  to  incentive
compensation  and bonuses as provided in any plan of the Holding Company and its
Subsidiaries  in which  Executive  is eligible to  participate.  Nothing paid to
Executive  under  any such plan or  arrangement  will be deemed to be in lieu of
other compensation to which Executive is entitled under this Agreement.

         (c) The  Holding  Company  shall  pay or  reimburse  Executive  for all
reasonable expenses incurred in the performance of Executive's obligations under
this  Agreement and may provide such  additional  compensation  in such form and
such amounts as the Board may from time to time determine.

4. PAYMENTS TO EXECUTIVE UPON AN EVENT OF TERMINATION.

         (a) Upon the occurrence of an Event of Termination  (as herein defined)
during  Executive's term of employment  under this Agreement,  the provisions of
this Section shall apply. As used in this  Agreement,  an "Event of Termination"
shall mean and include any one or more of the following:  (i) the termination by
the Holding Company of Executive's full-time employment hereunder for any reason
other than termination governed by Section 5(a) hereof, or for Cause, as defined
in Section 7 hereof;  (ii) Executive's  resignation  from the Holding  Company's
employ,  upon,  any (A)  failure to elect or reelect or to appoint or  reappoint
Executive as  _______________________,  unless consented to by Executive,  (B) a
material change in Executive's  function,  duties, or responsibilities  with the
Holding  Company or its  Subsidiaries,  which  change  would  cause  Executive's
position to become one of lesser responsibility,  importance,  or scope from the
position and attributes thereof described in Section 1, above,  unless consented
to by Executive,  (C) a relocation of Executive's  principal place of employment
by more than 25 miles from its location at the effective date of this Agreement,
unless consented to by Executive,  (D) a material  reduction in the benefits and
perquisites  to Executive  from those being provided as of the effective date of
this  Agreement,  unless  consented  to  by  Executive,  (E)  a  liquidation  or
dissolution  of the Holding  Company or the  Institution,  or (F) breach of this
Agreement by the Holding Company.  Upon the occurrence of any event described in
clauses (A), (B), (C), (D), (E) or (F), above, Executive shall have the right to
elect to terminate his employment  under this Agreement by resignation  upon not
less than sixty (60) days prior  written  notice given within six full  calendar
months after the event giving rise to said right to elect.

         (b) Upon the  occurrence  of an  Event of  Termination,  on the Date of
Termination,  as defined in Section 8, the Holding Company shall be obligated to
pay Executive,  or, in the event of his  subsequent  death,  his  beneficiary or
beneficiaries, or his estate, as the case may be, a sum equal to the sum of: (i)
the Base Salary and bonuses in  accordance  with Section 3(a) of this  Agreement
that would have been paid to Executive for the remaining  term of this Agreement
had

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<PAGE>

the Event of Termination  not occurred and (ii) all benefits,  including  health
insurance  in  accordance  with  Section  3(b) that would have been  provided to
Executive for the remaining  term of this  Agreement had an Event of Termination
not occurred.  At the election of Executive,  which election is to be made prior
to an Event of  Termination,  such payments  shall be made in a lump sum. In the
event that no election is made,  payment to Executive  will be made on a monthly
basis in  approximately  equal  installments  during the  remaining  term of the
Agreement.  Such payments  shall not be reduced in the event  Executive  obtains
other employment following termination of employment.

         (c) Upon the occurrence of an Event of Termination, the Holding Company
will  cause to be  continued  life,  medical,  dental  and  disability  coverage
substantially  equivalent to the coverage  maintained by the Holding  Company or
its  Subsidiaries  for Executive  prior to his termination at no premium cost to
Executive.  Such coverage  shall cease upon the expiration of the remaining term
of this Agreement.

5. CHANGE IN CONTROL.

         (a) For  purposes  of this  Agreement,  a "Change  in  Control"  of the
Holding  Company or the  Institution  shall mean an event of a nature that:  (i)
would be required to be reported in response to Item 1(a) of the current  report
on Form 8-K, as in effect on the date hereof, pursuant to Section 13 or 15(d) of
the Securities  Exchange Act of 1934, as amended (the "Exchange  Act");  or (ii)
results in a Change in Control of the  Institution or the Holding Company within
the  meaning of the Home  Owners'  Loan Act of 1933,  as  amended,  the  Federal
Deposit  Insurance Act, and the Rules and Regulations  promulgated by the Office
of Thrift  Supervision  (or its  predecessor  agency),  as in effect on the date
hereof  (provided,  that in applying the  definition of Change in Control as set
forth under the rules and regulations of the OTS, the Board shall substitute its
judgment  for that of the OTS);  or (iii)  without  limitation  such a Change in
Control  shall be deemed to have  occurred at such time as (A) any  "person" (as
the term is used in Sections  13(d) and 14(d) of the Exchange Act) is or becomes
the  "beneficial  owner"  (as  defined in Rule 13d-3  under the  Exchange  Act),
directly or indirectly,  of voting  securities of the Institution or the Holding
Company  representing 20% or more of the  Institution's or the Holding Company's
outstanding voting securities or right to acquire such securities except for any
voting  securities of the  Institution  purchased by the Holding Company and any
voting securities  purchased by any employee benefit plan of the Holding Company
or its  Subsidiaries,  or (B)  individuals  who constitute the Board on the date
hereof (the  "Incumbent  Board")  cease for any reason to  constitute at least a
majority thereof, provided that any person becoming a director subsequent to the
date hereof whose election was approved by a vote of at least  three-quarters of
the directors  comprising the Incumbent  Board, or whose nomination for election
by the  Company's  stockholders  was approved by a Nominating  Committee  solely
composed of members which are Incumbent Board members, shall be, for purposes of
this clause (B),  considered as though he were a member of the Incumbent  Board,
or  (C) a  plan  of  reorganization,  merger,  consolidation,  sale  of  all  or
substantially  all the  assets of the  Institution  or the  Holding  Company  or
similar transaction occurs or is effectuated in which the Institution or Holding
Company  is not the  resulting  entity;  provided,  however,  that such an event
listed above will be

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<PAGE>

deemed to have  occurred  or to have been  effectuated  upon the  receipt of all
required federal  regulatory  approvals not including the lapse of any statutory
waiting  periods,  or (D) a proxy  statement  has  been  distributed  soliciting
proxies from  stockholders  of the Holding  Company,  by someone  other than the
current  management of the Holding Company,  seeking  stockholder  approval of a
plan of  reorganization,  merger or  consolidation  of the  Holding  Company  or
Institution  with one or more  corporations as a result of which the outstanding
shares of the class of securities  then subject to such plan or transaction  are
exchanged for or converted into cash or property or securities not issued by the
Institution or the Holding Company shall be  distributed,  or (E) a tender offer
is made for 20% or more of the voting  securities of the  Institution or Holding
Company then outstanding.

         (b) If a Change in Control has occurred pursuant to Section 5(a) or the
Board has determined  that a Change in Control has occurred,  Executive shall be
entitled to the benefits  provided in paragraphs  (c) and (d), of this Section 5
upon his  subsequent  termination  of  employment at any time during the term of
this Agreement due to (i) Executive's  dismissal,  or (ii) Executive's voluntary
resignation  following  any  demotion,  loss of  title,  office  or  significant
authority or responsibility,  reduction in the annual  compensation or reduction
in benefits or relocation  of his principal  place of employment by more than 25
miles from its location immediately prior to the Change in Control,  unless such
termination is because of his death or termination for Cause.

         (c) Upon Executive's  entitlement to benefits pursuant to Section 5(b),
the  Holding  Company  shall pay  Executive,  or in the event of his  subsequent
death, his beneficiary or  beneficiaries,  or his estate, as the case may be, as
severance pay or liquidated damages, or both, a sum equal to the greater of: (i)
the Base Salary and bonuses in  accordance  with Section 3(a) of this  Agreement
that would have been paid to Executive for the remaining  term of this Agreement
had the event  described in Subsection (b) of this Section 5 not occurred,  plus
the value,  as  calculated  by a recognized  firm  customarily  performing  such
valuation,  of any  stock  option  or  related  rights  which  as of the Date of
Termination have been granted to Executive, but are not exercisable by Executive
and the value of  restricted  stock  awards or  related  rights  which have been
granted to Executive,  but which  Executive does not have a  non-forfeitable  or
fully vested interest as of the Date of Termination and all benefits,  including
health insurance,  in accordance with Section 3(b) that would have been provided
to Executive for the remaining term of this Agreement had the event described in
Subsection  (b) of  this  Section  5 not  occurred;  or  (ii)  three  (3)  times
Executive's  Average Annual  Compensation  (as defined  herein) for the five (5)
preceding  taxable years that Executive has been employed by the Holding Company
or its  Subsidiaries or such lesser number of years in the event Executive shall
have been employed with the Holding Company or its  Subsidiaries  less than five
(5) years.  Such Average  Annual  Compensation  shall include all taxable income
paid by the Holding Company or its  Subsidiaries,  including but not limited to,
Base Salary,  commissions  and bonuses,  as well as  contributions  on behalf of
Executive to any pension and profit sharing plan, severance payments,  directors
or committee  fees and fringe  benefits  paid or to be paid to Executive  during
such years. At the election of Executive,  which election is to be made prior to
a Change in Control, such payment shall be made in a lump sum. In the event that
no election is made, payment to Executive will be

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<PAGE>

made on a monthly basis in approximately equal installments during the remaining
term of the Agreement. Such payments shall not be reduced in the event Executive
obtains other employment following termination of employment.

         (d) Upon Executive's  entitlement to benefits pursuant to Section 5(b),
the Company  will cause to be continued  life,  medical,  dental and  disability
coverage substantially  equivalent to the coverage maintained by the Institution
for  Executive  at no premium  cost to Executive  prior to his  severance.  Such
coverage and payments shall cease upon the expiration of thirty-six  (36) months
following the Change in Control.

6. CHANGE OF CONTROL RELATED PROVISIONS.

         Notwithstanding  Section  5, for any  taxable  year in which  Executive
shall be liable,  as  determined  for the payment of an excise tax under Section
4999 of the  Internal  Revenue  Code of 1986,  as amended  (the  "Code") (or any
successor provision  thereto),  with respect to any payment in the nature of the
compensation  made by the Holding Company or the Bank to (or for the benefit of)
Executive pursuant to this Agreement or otherwise, the Holding Company shall pay
to Executive an amount determined under the following formula:

         An amount equal to:  (E x P) + X

WHERE:

   X  =                      E x P
            ----------------------
            1 - [(FI x (1 - SLI)) + SLI + E [+ M + PO]]

   E  =  the rate at which the excise tax is assessed under Section 4999 of the
         Code;

   P  =  the amount with respect to which such excise tax is assessed,
         determined without regard to this Section 2;

   FI =  the  highest  marginal  rate  of  federal  income,
         employment, and other taxes (other than taxes imposed
         under  Section  4999  of  the  Code)   applicable  to
         Executive for the taxable year in question; and

  SLI =  the sum of the highest marginal rates of income and payroll tax
         applicable to Executive under applicable state and local laws for
         the taxable year in question; and

   M  =  highest marginal rate of Medicare tax; and

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   PO =  adjustment  for phase out of or loss of  deduction,
         personal exemption or other similar items.

With  respect to any payment in the nature of  compensation  that is made to (or
for the benefit of)  Executive  under the terms of this Section or otherwise and
on which an excise  tax under  Section  4999 of the Code will be  assessed,  the
payment determined under Section 5 shall be made to Executive on the earliest of
(i) the date the Holding Company is required to withhold such tax, (ii) the date
the tax is required to be paid by Executive,  or (iii) at the time of the Change
in Control.  It is the intention of the parties that the Holding Company provide
Executive with a full tax gross-up under the provisions of this Section, so that
on a net after-tax  basis,  the result to Executive  shall be the same as if the
excise tax under Section 4999 (or any successor  provisions) of the Code had not
been imposed.  The tax gross-up may be adjusted if alternative minimum tax rules
are applicable to Executive.

         Notwithstanding  the foregoing,  if it shall subsequently be determined
in a final judicial determination or a final administrative  settlement to which
Executive  is a party  that the excess  parachute  payment as defined in Section
4999 of the Code, reduced as described above, is more than the amount determined
as  "P,"  above  (such  greater  amount  being  hereafter  referred  to  as  the
"Determinative Excess Parachute Payment") then the Holding Company's independent
accountants  shall  determine the amount (the  "Adjustment  Amount") the Holding
Company  must  pay to  Executive,  in  order to put  Executive  (or the  Holding
Company,  as the case may be) in the same  position as Executive (or the Holding
Company,  as the case may be) would  have been if the amount  determined  as "P"
above  had  been  equal  to  the  Determinative  Excess  Parachute  Payment.  In
determining the Adjustment Amount,  the independent  accountants shall take into
account any and all taxes  (including any penalties and interest) paid by or for
Executive  or refunded  to  Executive  or for  Executive's  benefit.  As soon as
practicable  after the  Adjustment  Amount has been so  determined,  the Holding
Company shall pay the Adjustment Amount to Executive.

         In each  calendar  year that  Executive  receives  payments or benefits
under this Agreement, Executive shall report on his state and federal income tax
returns such  information as is consistent  with the  determination  made by the
independent  accountants of the Holding Company as described  above. The Holding
Company  shall  indemnify and hold  Executive  harmless from any and all losses,
costs and expenses  (including without limitation,  reasonable  attorney's fees,
interest,  fines and penalties)  which Executive incurs as a result of reporting
such information. Executive shall promptly notify the Holding Company in writing
whenever  Executive  receives notice of the Bank of a judicial or administrative
proceeding, formal or informal, in which the federal tax treatment under Section
4999 of the Code of any amount  paid or payable  under this  Agreement  is being
reviewed  or is in dispute.  The Holding  Company  shall  assume  control at its
expense over all legal and  accounting  matters  pertaining  to such federal tax
treatment  (except to the extent  necessary  or  appropriate  for  Executive  to
resolve any such proceeding with respect to any matter unrelated to amounts paid
or payable  pursuant to this contract) and Executive  shall cooperate fully with
the Holding Company in any such  proceeding.  Executive shall not enter into any
compromise or settlement or otherwise  prejudice any rights the Holding  Company
may have in connection therewith without prior consent to the Holding Company.

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7. TERMINATION FOR CAUSE.

         The term  "Termination  for Cause"  shall mean  termination  because of
Executive's  personal  dishonesty,  willful misconduct,  any breach of fiduciary
duty involving  personal profit,  intentional  failure to perform stated duties,
willful violation of any law, rule, regulation (other than traffic violations or
similar  offenses),  final  cease and  desist  order or  material  breach of any
provision of this Agreement.  Notwithstanding the foregoing, Executive shall not
be deemed to have been  terminated  for Cause  unless and until there shall have
been  delivered to him a Notice of  Termination  which shall include a copy of a
resolution duly adopted by the affirmative  vote of not less than  three-fourths
of the  members of the Board at a meeting of the Board  called and held for that
purpose  (after  reasonable  notice to  Executive  and an  opportunity  for him,
together with counsel,  to be heard before the Board),  finding that in the good
faith  opinion  of  the  Board,  Executive  was  guilty  of  conduct  justifying
Termination  for  Cause  and  specifying  the  particulars  thereof  in  detail.
Executive shall not have the right to receive compensation or other benefits for
any period after Termination for Cause.  During the period beginning on the date
of the Notice of Termination  for Cause pursuant to Section 8 hereof through the
Date of  Termination,  stock  options  and  related  limited  rights  granted to
Executive  under any stock  option plan shall not be  exercisable  nor shall any
unvested  awards  granted  to  Executive  under  any stock  benefit  plan of the
Institution,  the Holding Company or any subsidiary or affiliate thereof,  vest.
At the Date of  Termination,  such stock options and related  limited rights and
any such unvested awards shall become null and void and shall not be exercisable
by or  delivered to Executive at any time  subsequent  to such  Termination  for
Cause.

8. NOTICE.

         (a) Any purported  termination  by the Holding  Company or by Executive
shall be  communicated  by Notice of Termination to the other party hereto.  For
purposes  of this  Agreement,  a "Notice  of  Termination"  shall mean a written
notice which shall indicate the specific termination provision in this Agreement
relied upon and shall set forth in reasonable detail the facts and circumstances
claimed to provide a basis for termination of Executive's  employment  under the
provision so indicated.

         (b) "Date of  Termination"  shall mean the date specified in the Notice
of Termination (which, in the case of a Termination for Cause, shall not be less
than thirty (30) days from the date such Notice of Termination is given).

         (c) If,  within  thirty  (30) days after any Notice of  Termination  is
given,  the party receiving such Notice of Termination  notifies the other party
that a dispute exists concerning the termination,  except upon the occurrence of
a Change in Control and voluntary termination by the Executive in which case the
Date of  Termination  shall be the date  specified  in the  Notice,  the Date of
Termination shall be the date on which the dispute is finally determined, either
by mutual written agreement of the parties,  by a binding  arbitration award, or
by a final judgment,  order or decree of a court of competent  jurisdiction (the
time for appeal  therefrom  having expired and no appeal having been  perfected)
and provided further that the Date of Termination shall be

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extended  by a notice of dispute  only if such notice is given in good faith and
the party  giving  such notice  pursues  the  resolution  of such  dispute  with
reasonable  diligence.  Notwithstanding  the pendency of any such  dispute,  the
Holding  Company will continue to pay Executive his full  compensation in effect
when the notice giving rise to the dispute was given (including, but not limited
to, Base Salary) and continue him as a participant in all compensation,  benefit
and insurance plans in which he was participating when the notice of dispute was
given,  until the dispute is finally resolved in accordance with this Agreement.
Amounts paid under this  Section are in addition to all other  amounts due under
this  Agreement and shall not be offset  against or reduce any other amounts due
under this Agreement.

9. POST-TERMINATION OBLIGATIONS.

         All payments and benefits to Executive  under this  Agreement  shall be
subject  to  Executive's  compliance  with this  Section 9 for one (1) full year
after  the  earlier  of the  expiration  of this  Agreement  or  termination  of
Executive's   employment  with  the  Holding  Company.   Executive  shall,  upon
reasonable  notice,  furnish  such  information  and  assistance  to the Holding
Company as may reasonably be required by the Holding  Company in connection with
any litigation in which it or any of its  subsidiaries  or affiliates is, or may
become, a party.

10. NON-COMPETITION AND NON-DISCLOSURE.

         (a) Upon any termination of Executive's  employment  hereunder pursuant
to Section 4 hereof, Executive agrees not to compete with the Holding Company or
its  Subsidiaries for a period of one (1) year following such termination in any
city, town or county in which Executive's  normal business office is located and
the  Holding  Company or any of its  Subsidiaries  has an office or has filed an
application for regulatory approval to establish an office, determined as of the
effective date of such termination, except as agreed to pursuant to a resolution
duly adopted by the Board.  Executive  agrees that during such period and within
said cities, towns and counties, Executive shall not work for or advise, consult
or otherwise  serve with,  directly or  indirectly,  any entity  whose  business
materially competes with the depository, lending or other business activities of
the Holding Company or its  Subsidiaries.  The parties hereto,  recognizing that
irreparable  injury will result to the Holding Company or its Subsidiaries,  its
business  and  property in the event of  Executive's  breach of this  Subsection
10(a)  agree  that in the event of any such  breach by  Executive,  the  Holding
Company or its Subsidiaries, will be entitled, in addition to any other remedies
and damages  available,  to an injunction  to restrain the  violation  hereof by
Executive,  Executive's partners,  agents,  servants,  employees and all persons
acting for or under the direction of Executive.  Executive represents and admits
that in the event of the  termination  of his  employment  pursuant to Section 7
hereof,  Executive's  experience  and  capabilities  are such that Executive can
obtain  employment  in a business  engaged in other lines  and/or of a different
nature than the Holding Company or its Subsidiaries, and that the enforcement of
a remedy  by way of  injunction  will  not  prevent  Executive  from  earning  a
livelihood.  Nothing herein will be construed as prohibiting the Holding Company
or its  Subsidiaries  from pursuing any other remedies  available to the Holding
Company or its Subsidiaries for such breach or threatened breach,  including the
recovery of damages from Executive.

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<PAGE>

         (b) Executive  recognizes  and  acknowledges  that the knowledge of the
business activities and plans for business activities of the Holding Company and
its  Subsidiaries as it may exist from time to time, is a valuable,  special and
unique  asset of the  business  of the  Holding  Company  and its  Subsidiaries.
Executive  will not,  during or after the term of his  employment,  disclose any
knowledge of the past, present, planned or considered business activities of the
Holding Company and its Subsidiaries thereof to any person,  firm,  corporation,
or other entity for any reason or purpose whatsoever unless expressly authorized
by the Board of Directors  or required by law.  Notwithstanding  the  foregoing,
Executive  may disclose  any  knowledge of banking,  financial  and/or  economic
principles,  concepts or ideas which are not solely and exclusively derived from
the business  plans and  activities  of the Holding  Company.  In the event of a
breach or threatened breach by Executive of the provisions of this Section,  the
Holding  Company will be entitled to an injunction  restraining  Executive  from
disclosing,  in whole or in part, the knowledge of the past, present, planned or
considered  business  activities of the Holding  Company or its  Subsidiaries or
from rendering any services to any person,  firm,  corporation,  other entity to
whom such knowledge, in whole or in part, has been disclosed or is threatened to
be  disclosed.  Nothing  herein will be  construed  as  prohibiting  the Holding
Company from pursuing any other  remedies  available to the Holding  Company for
such  breach or  threatened  breach,  including  the  recovery  of damages  from
Executive.

11. SOURCE OF PAYMENTS.

         (a) All  payments  provided in this  Agreement  shall be timely paid in
cash or check from the general funds of the Holding  Company  subject to Section
11(b).

         (b) Notwithstanding any provision herein to the contrary, to the extent
that  payments  and  benefits,  as  provided by this  Agreement,  are paid to or
received by Executive under the Employment Agreement dated ____________________,
between Executive and the Institution,  such compensation  payments and benefits
paid by the Institution will be subtracted from any amount due simultaneously to
Executive under similar provisions of this Agreement.  Payments pursuant to this
Agreement and the Institution  Agreement shall be allocated in proportion to the
level of activity  and the time  expended on such  activities  by  Executive  as
determined by the Holding Company and the Institution on a quarterly basis.

12. EFFECT ON PRIOR AGREEMENTS AND EXISTING BENEFITS PLANS.

         This Agreement  contains the entire  understanding  between the parties
hereto and supersedes any prior employment agreement between the Holding Company
or any  predecessor  of the  Holding  Company  and  Executive,  except that this
Agreement  shall not affect or operate  to reduce  any  benefit or  compensation
inuring  to  Executive  of a kind  elsewhere  provided.  No  provision  of  this
Agreement  shall be  interpreted  to mean that Executive is subject to receiving
fewer benefits than those available to him without reference to this Agreement.

                                       10

<PAGE>

13. NO ATTACHMENT.

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

         (b) This Agreement  shall be binding upon, and inure to the benefit of,
Executive and the Holding Company and their respective successors and assigns.

14. MODIFICATION AND WAIVER.

         (a)  This  Agreement  may  not be  modified  or  amended  except  by an
instrument in writing signed by the parties hereto.

         (b) No term or condition of this Agreement shall be deemed to have been
waived, nor shall there be any estoppel against the enforcement of any provision
of this Agreement,  except by written  instrument of the party charged with such
waiver or estoppel.  No such written waiver shall be deemed a continuing  waiver
unless specifically  stated therein,  and each such waiver shall operate only as
to the specific  term or condition  waived and shall not  constitute a waiver of
such term or condition for the future as to any act other than that specifically
waived.

15. SEVERABILITY.

         If, for any reason, any provision of this Agreement, or any part of any
provision, is held invalid, such invalidity shall not affect any other provision
of this  Agreement or any part of such  provision not held so invalid,  and each
such other  provision and part thereof shall to the full extent  consistent with
law continue in full force and effect.

16. HEADINGS FOR REFERENCE ONLY.

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

17. GOVERNING LAW.

         This  Agreement  shall be  governed  by the  laws of the  State of Ohio
regardless of the laws that might otherwise govern under  applicable  principles
of conflicts of law.

                                       11

<PAGE>

18. ARBITRATION.

         Any dispute or  controversy  arising under or in  connection  with this
Agreement shall be settled exclusively by arbitration,  conducted before a panel
of three  arbitrators  sitting in a location  selected by Executive within fifty
(50) miles from the location of the Institution, in accordance with the rules of
the American Arbitration  Association then in effect. Judgment may be entered on
the arbitrator's award in any court having jurisdiction; provided, however, that
Executive shall be entitled to seek specific performance of his right to be paid
until the Date of Termination  during the pendency of any dispute or controversy
arising under or in connection with this Agreement.

         In the event any dispute or controversy  arising under or in connection
with  Executive's  termination  is  resolved in favor of  Executive,  whether by
judgment, arbitration or settlement,  Executive shall be entitled to the payment
of all  back-pay,  including  salary,  bonuses and any other cash  compensation,
fringe  benefits and any  compensation  and benefits  due  Executive  under this
Agreement.

19. PAYMENT OF LEGAL FEES.

         All reasonable legal fees paid or incurred by Executive pursuant to any
dispute or question of  interpretation  relating to this Agreement shall be paid
or reimbursed by the Holding Company,  if Executive is successful  pursuant to a
legal judgment, arbitration or settlement.

20. INDEMNIFICATION.

         (a) The Holding Company shall provide  Executive  (including his heirs,
executors and  administrators)  with coverage  under a standard  directors'  and
officers'  liability  insurance  policy  at  its  expense  and  shall  indemnify
Executive (and his heirs,  executors and  administrators)  to the fullest extent
permitted  under  Maryland law against all expenses and  liabilities  reasonably
incurred  by him in  connection  with  or  arising  out of any  action,  suit or
proceeding  in which he may be  involved by reason of his having been a director
or officer of the Holding Company  (whether or not he continues to be a director
or officer at the time of incurring such expenses or liabilities), such expenses
and liabilities to include,  but not be limited to,  judgments,  court costs and
attorneys' fees and the cost of reasonable settlements.

         (b) Any payments made to Executive pursuant to this Section are subject
to and conditioned upon compliance with 12  U.S.C.ss.1828(k)  and 12 C.F.R. Part
359 and any rules or regulations promulgated thereunder.

21. SUCCESSOR TO THE HOLDING COMPANY.

         The Holding  Company shall  require any successor or assignee,  whether
direct or indirect, by purchase,  merger,  consolidation or otherwise, to all or
substantially  all the  business  or assets of the  Institution  or the  Holding
Company, expressly and unconditionally to assume and agree to

                                       12

<PAGE>

perform the Holding  Company's  obligations  under this  Agreement,  in the same
manner and to the same  extent  that the  Holding  Company  would be required to
perform if no such succession or assignment had taken place.

                       [REMAINDER OF INTENTIONALLY BLANK]

                                       13

<PAGE>

                                   SIGNATURES

         IN WITNESS WHEREOF,  Lawrence Financial Holdings,  Inc. has caused this
Agreement  to be  executed  and its  seal to be  affixed  hereunto  by its  duly
authorized  officer and its directors,  and Executive has signed this Agreement,
on the __ day of ____________.

ATTEST:                                   LAWRENCE FINANCIAL HOLDINGS, INC.

_______________________________           By:  _________________________________
                                               For the Entire Board of Directors

                  [SEAL]

WITNESS:                                                               EXECUTIVE

_______________________________           By:  _________________________________

                                       14PENTEGRA SERVICES, INC.

                    EMPLOYEES' SAVINGS & PROFIT SHARING PLAN
                               BASIC PLAN DOCUMENT

7/16/97

<PAGE>

                                TABLE OF CONTENTS

ARTICLE I       PURPOSE AND DEFINITIONS ....................................   1

ARTICLE II      PARTICIPATION AND MEMBERSHIP ...............................   9

ARTICLE III     CONTRIBUTIONS ..............................................  12

ARTICLE IV      INVESTMENT OF CONTRIBUTIONS ................................  25

ARTICLE V       MEMBERS' ACCOUNTS, UNITS AND VALUATION .....................  27

ARTICLE VI      VESTING OF UNITS ...........................................  28

ARTICLE VII     WITHDRAWALS AND DISTRIBUTIONS ..............................  32

ARTICLE VIII    LOAN PROGRAM ...............................................  41

ARTICLE IX      ADMINISTRATION OF PLAN AND ALLOCATION OF RESPONSIBILITIES ..  46

ARTICLE X       MISCELLANEOUS PROVISIONS ...................................  55

ARTICLE XI      AMENDMENT AND TERMINATION ..................................  64

TRUSTS ESTABLISHED UNDER THE PLAN

<PAGE>

                                    ARTICLE I
                             PURPOSE AND DEFINITIONS

Section 1.1

This Plan and Trust, as evidenced hereby, and the applicable  Adoption Agreement
and Trust  Agreement(s),  are  designed  and  intended  to  qualify in form as a
qualified  profit sharing plan and trust under the applicable  provisions of the
Internal  Revenue Code of 1986,  as now in effect or hereafter  amended,  or any
other applicable provisions of law including,  without limitation,  the Employee
Retirement Income Security Act of 1974, as amended.

Section 1.2

The  following  words and phrases as used in this Plan shall have the  following
meanings:

     (A)  "Account" means the Plan account established and maintained in respect
          of each Member pursuant to Article V, including the Member's after-tax
          amounts, 401(k) amounts,  Employer matching,  basic,  supplemental and
          qualified  nonelective  contribution  amounts,  rollover  amounts  and
          profit sharing amounts, as elected by the Employer.

     (B)  "Adoption Agreement" means the separate document by which the Employer
          has adopted the Plan and specified certain of the terms and provisions
          hereof. If any term, provision or definition contained in the Adoption
          Agreement  is  inconsistent  with any term,  provision  or  definition
          contained  herein,  the one set forth in the Adoption  Agreement shall
          govern.  The Adoption Agreement shall be incorporated into and form an
          integral part of the Plan.

     (C)  "Beneficiary"  means the person or persons  designated  to receive any
          amount  payable  under  the Plan  upon the  death  of a  Member.  Such
          designation  may be  made or  changed  only  by the  Member  on a form
          provided by, and filed with, the Third Party Adminstrator prior to his
          death. If the Member is not survived by a Spouse and if no Beneficiary
          is  designated,  or if  the  designated  Beneficiary  predeceases  the
          Member,  then any such amount  payable  shall be paid to such Member's
          estate upon his death.

     (D)  "Board"  means the Board of  Directors  of the  Employer  adopting the
          Plan.

                                        1

<PAGE>

     (E)  "Break in Service"  means a Plan Year during which an  individual  has
          not completed more than 500 Hours of Employment,  as determined by the
          Plan Administrator in accordance with the IRS Regulations.  Solely for
          purposes of  determining  whether a Break in Service has occurred,  an
          individual  shall be credited with the Hours of Employment  which such
          individual  would have  completed  but for a  maternity  or  paternity
          absence,  as determined by the Plan  Administrator  in accordance with
          this Paragraph,  the Code and the applicable regulations issued by the
          DOL and the IRS; provided, however, that the total Hours of Employment
          so credited  shall not exceed 501 and the individual  timely  provides
          the Plan Administrator with such information as it may require.  Hours
          of Employment  credited for a maternity or paternity  absence shall be
          credited  entirely (i) in the Plan Year in which the absence  began if
          such Hours of  Employment  are necessary to prevent a Break in Service
          in such year, or (ii) in the following Plan Year. For purposes of this
          Paragraph,  maternity or paternity  absence shall mean an absence from
          work  by  reason  of the  individual's  pregnancy,  the  birth  of the
          individual's  child or the placement of a child with the individual in
          connection with the adoption of the child by such  individual,  or for
          purposes  of caring for a child for the period  immediately  following
          such birth or placement.

     (F)  "Code" means the Internal Revenue Code of 1986, as now in effect or as
          hereafter  amended.  All citations to sections of the Code are to such
          sections as they may from time to time be amended or renumbered.

     (G)  "Commencement  Date"  means  the date on which an  Employer  begins to
          participate in the Plan.

     (H)  "Contribution  Determination Period" means the Plan Year, fiscal year,
          or calendar or fiscal quarter,  as elected by an Employer,  upon which
          eligibility  for and the  maximum  permissible  amount  of any  Profit
          Sharing  contribution,  as  defined  in Article  III,  is  determined.
          Notwithstanding   the   foregoing,   for   purposes   of  Article  VI,
          Contribution Determination Period means the Plan Year.

     (I)  "Disability"  means a Member's  disability  as defined in Article VII,
          Section 7.4.

     (J)  "DOL" means the United States Department of Labor.

     (K)  "Employee"  means any person in the  Employment  of, and who  receives
          compensation  from, the Employer,  and any leased  employee within the
          meaning  of  Section  414(n)(2)  of  the  Code.   Notwithstanding  the
          foregoing,  if such  leased  employees  constitute  less  than  twenty
          percent  (20%) of the  Employer's  nonhighly  compensated  work  force
          within  the  meaning  of Section  414(n)(5)(C)(ii)  of the Code,  such
          leased  employees  are not  Employees  if they are  covered  by a plan
          meeting the requirements of Section 414(n)(5)(B) of the Code.

                                        2

<PAGE>

     (L)  "Employer" means the proprietorship,  partnership or corporation named
          in  the  Adoption  Agreement  and  any  corporation  which,   together
          therewith,  constitutes an affiliated  service group,  any corporation
          which,   together   therewith,   constitutes  a  controlled  group  of
          corporations  as defined in  Section  1563 of the Code,  and any other
          trade  or  business  (whether  incorporated  or not)  which,  together
          therewith,  are under common  control as defined in Section  414(c) of
          the Code, which have adopted the Plan.

     (M)  "Employment"  means  service  with an  Employer  or with any  domestic
          subsidiary affiliated or associated with an Employer which is a member
          of the same controlled  group of  corporations  (within the meaning of
          Section  1563(a)  of the Code).  In  accordance  with DOL  Regulations
          (Sections  2530.200-2(b)  and (c)),  service  includes  (a) periods of
          vacation,  (b) periods of layoff, (c) periods of absence authorized by
          an Employer for sickness, temporary disability or personal reasons and
          (d) if and to the extent  required by the Military  Selective  Service
          Act as amended,  or any other federal law, service in the Armed Forces
          of the United States.

     (N)  "Enrollment Date" means the date on which an Employee becomes a Member
          as provided under Article II.

     (O)  "ERISA" means the Employee  Retirement Income Security Act of 1974, as
          now in effect or as hereafter amended.

     (P)  "Fiduciary"  means any  person  who (i)  exercises  any  discretionary
          authority  or control with  respect to the  management  of the Plan or
          control with respect to the  management or  disposition  of the assets
          thereof,  (ii)  renders  any  investment  advice  for a fee  or  other
          compensation,  direct or indirect, with respect to any moneys or other
          property  of  the  Plan,  or  has  any   discretionary   authority  or
          responsibility to do so, or (iii) has any  discretionary  authority or
          responsibility in the administration of the Plan,  including any other
          persons  (other than  trustees)  designated by any Named  Fiduciary to
          carry out fiduciary  responsibilities,  except to the extent otherwise
          provided by ERISA.

                                        3

<PAGE>

     (Q)  "Highly Compensated  Employee" or "Highly Compensated Member" means an
          Employee or Member who is employed during the  determination  year and
          who during the  look-back  year:  (i) received  compensation  from the
          Employer in excess of $75,000 (as adjusted  pursuant to Section 415(d)
          of the Code);  (ii) received  compensation from the Employer in excess
          of $50,000 (as  adjusted  pursuant to Section  415(d) of the Code) and
          was a member of the top-paid group for such year as defined in Section
          414(q)  of the Code;  or (iii)  was an  officer  of the  Employer  and
          received compensation during such year that is greater than 50 percent
          of the dollar  limitation in effect under Section  415(b)(1)(A) of the
          Code.  The  term  Highly  Compensated  Employee  also  includes:   (i)
          employees who are both described in the preceding sentence if the term
          "determination year" is substituted for the term "look- back year" and
          are among the 100  employees who received the most  compensation  from
          the Employer during the determination year; and (ii) employees who are
          5  percent   owners  at  any  time  during  the   look-back   year  or
          determination year.

          If no officer has  satisfied  the  compensation  requirement  of (iii)
          above  during  either a  determination  year or  look-back  year,  the
          highest  paid  officer  for such  year  shall be  treated  as a Highly
          Compensated Employee.

          For this purpose,  the determination  year shall be the Plan Year. The
          look-back year shall be the twelve-month period immediately  preceding
          the determination year.

          If an Employee is, during a  determination  year or look-back  year, a
          family  member of either a 5 percent  owner who is an active or former
          Employee or a Highly  Compensated  Employee  who is one of the 10 most
          highly compensated  Employees ranked on the basis of compensation paid
          by the  Employer  during such year,  then the family  member and the 5
          percent  owner  or  top-ten  Highly  Compensated   Employee  shall  be
          aggregated.  In such case,  the family  member and 5 percent  owner or
          top-ten  Highly  Compensated  Employee  shall be  treated  as a single
          Employee  receiving  compensation  and plan  contributions or benefits
          equal to the sum of such compensation and contributions or benefits of
          the family  member and 5 percent owner or top-ten  Highly  Compensated
          Employee.  For purposes of this Paragraph,  family member includes the
          spouse,  lineal  ascendants and  descendants of the Employee or former
          Employee and the spouses of such lineal ascendants and descendants.

                                        4

<PAGE>

          The determination of who is a Highly Compensated  Employee,  including
          the  determinations  of the number and  identity of  Employees  in the
          top-paid group, the top 100 Employees, the number of Employees treated
          as officers and the compensation  that is considered,  will be made in
          accordance  with  Section  414(q) of the Code and the IRS  Regulations
          thereunder.

     (R)  "Hour of Employment" means each hour during which an Employee performs
          service (or is treated as  performing  service as required by law) for
          the Employer and, except in the case of military service, for which he
          is  directly or  indirectly  paid,  or  entitled  to  payment,  by the
          Employer  (including  any  back  pay  irrespective  of  mitigation  of
          damages),   all  as  determined  in  accordance  with  applicable  DOL
          Regulations.

     (S)  "Investment Manager" means any Fiduciary other than a Trustee or Named
          Fiduciary  who (i) has the power to manage,  acquire or dispose of any
          asset of the Plan;  (ii) is (a)  registered as an  investment  advisor
          under the  Investment  Advisors Act of 1940; (b) is a bank, as defined
          in such Act, or (c) is an insurance  company  qualified to perform the
          services  described  in clause (i) hereof  under the laws of more than
          one state of the United States;  and (iii) has acknowledged in writing
          that he is a Fiduciary with respect to the Plan.

     (T)  "IRS" means the United States Internal Revenue Service.

     (U)  "Leave  of  Absence"  means an  absence  authorized  by an  Employee's
          Employer and approved by the Plan  Administrator,  on a uniform basis,
          in accordance with Article X.

     (V)  "Member"  means an  Employee  enrolled in the  membership  of the Plan
          under Article II.

     (W)  "Month" means any calendar month.

     (X)  "Named  Fiduciary" means the Fiduciary or Fiduciaries  named herein or
          in the Adoption  Agreement who jointly or severally have the authority
          to control and manage the operation and administration of the Plan.

     (Y)  "Normal Retirement Age" means the Member's sixty-fifth (65th) birthday
          unless otherwise specified in the Adoption Agreement.

                                        5

<PAGE>

     (Z)  "Plan" means the Employees' Savings & Profit Sharing Plan as evidenced
          by this document, the applicable Adoption Agreement and all subsequent
          amendments thereto.

     (AA) "Plan  Administrator"  means the Named  Fiduciary or, as designated by
          such Named  Fiduciary  and  approved by the Board in  accordance  with
          Article IX, any officer or Employee of the Employer.

     (BB) "Plan Year" means a consecutive  12-month  period  ending  December 31
          unless otherwise specified in the Adoption Agreement.

     (CC) "Regulations" means the applicable  regulations issued under the Code,
          ERISA or  other  applicable  law,  by the  IRS,  the DOL or any  other
          governmental  authority and any proposed or temporary  regulations  or
          rules  promulgated  by such  authorities  pending the issuance of such
          regulations.

     (DD) "Salary"  means regular basic  monthly  salary or wages,  exclusive of
          special   payments   such  as  overtime,   bonuses,   fees,   deferred
          compensation  (other than  pre-tax  elective  deferrals  pursuant to a
          Member's  election  under  Article  III),   severance  payments,   and
          contributions by the Employer under this or any other plan (other than
          before-tax  contributions  made on  behalf  of a  Member  under a Code
          Section 125 cafeteria plan, unless the Employer specifically elects to
          exclude  such  contributions).  Commissions  shall be  included at the
          Employer's  option  within such  limits,  if any, as may be set by the
          Employer in the Adoption  Agreement  and applied  uniformly to all its
          commissioned Employees.  In addition,  Salary may also include, at the
          Employer's  option,  special  payments  such as (i)  overtime  or (ii)
          overtime plus bonuses. As an alternative to the foregoing  definition,
          at the  Employer's  option,  Salary may be  defined  to include  total
          taxable  compensation  reported  on the  Member's  IRS Form W-2,  plus
          deferrals, if any, pursuant to Section 401(k) of the Code and pursuant
          to Section 125 of the Code (unless the Employer specifically elects to
          exclude  such  Section  125  deferrals),  but  excluding  compensation
          deferred from previous  years.  In no event may a Member's  Salary for
          any Plan Year exceed for purposes of the Plan  $150,000  (adjusted for
          cost  of  living  to the  extent  permitted  by the  Code  and the IRS
          Regulations).

                                        6

<PAGE>

     (EE) "Social Security Taxable Wage Base" means the contribution and benefit
          base  attributable to the OASDI portion of Social Security  employment
          taxes under Section 230 of the Social Security Act (42 U.S.C.  ss.430)
          in effect on the first day of each Plan Year.

     (FF) "Spouse" or "Surviving  Spouse" means the  individual to whom a Member
          or former  Member was  married on the date such Member  withdraws  his
          Account,  or if  such  Member  has  not  withdrawn  his  Account,  the
          individual to whom the Member or former Member was married on the date
          of his death.

     (GG) "Third Party Administrator" or "TPA" means Pentegra Services,  Inc., a
          non-fiduciary  provider  of  administrative   services  appointed  and
          directed  by the Plan  Administrator  or the  Named  Fiduciary  either
          jointly or severally.

     (HH) "Trust" means the Trust or Trusts established and maintained  pursuant
          to the  terms  and  provisions  of this  document  and any  separately
          maintained Trust Agreement or Agreements.

     (II) "Trustee"  generally  means  the  person,  persons  or other  entities
          designated  by the  Employer  or its Board as the  Trustee or Trustees
          hereof  and  specified  as  such  in the  Adoption  Agreement  and any
          separately maintained Trust Agreement or Agreements.

     (JJ) "Trust Agreement" means the separate document by which the Employer or
          its Board has appointed a Trustee of the Plan, specified the terms and
          conditions of such appointment and any fees associated therewith.

     (KK) "Trust  Fund" means the Trust Fund or Funds  established  by the Trust
          Agreement or Agreements.

     (LL) "Unit" means the unit of measure  described in Article V of a Member's
          proportionate  interest in the available  Investment Funds (as defined
          in Article IV).

     (MM) "Valuation  Date" means any business day of any month for the Trustee,
          except that in the event the underlying portfolio(s) of any Investment
          Fund  cannot be  valued  on such  date,  the  Valuation  Date for such
          Investment  Fund  shall  be the  next  subsequent  date on  which  the
          underlying portfolio(s) can be valued.  Valuations shall be made as of
          the close of business on such Valuation Date(s).

                                        7

<PAGE>

     (NN) "Year of Employment" means a 12-month period of Employment.

     (OO) "Year of  Service"  means any Plan  Year  during  which an  individual
          completed  at  least  1,000  Hours of  Employment,  or  satisfied  any
          alternative  requirement,  as determined by the Plan  Administrator in
          accordance with any applicable  Regulations  issued by the DOL and the
          IRS.

Section 1.3

The masculine pronoun wherever used shall include the feminine pronoun.

                                        8

<PAGE>

                                   ARTICLE II
                          PARTICIPATION AND MEMBERSHIP

Section 2.1  Eligibility Requirements

The Employer may establish as a requirement  for eligibility in the Plan (i) the
completion of any number of months not to exceed 12 consecutive  months, or (ii)
the completion of one or two  12-consecutive-month  periods, and/or (iii) if the
Employer  so elects,  it may adopt a minimum  age  requirement  of age 21.  Such
election shall be made and reflected on the Adoption Agreement.  Notwithstanding
the  foregoing,  in the case of an Employer that adopts the 401(k) feature under
Section 3.9, the  eligibility  requirements  under such feature shall not exceed
the period described in clause (i) above,  and, at the election of the Employer,
attainment of age 21 as described in clause (iii) above.

Where  an  Employer  designates  a one or two  12-consecutive-month  eligibility
waiting  period,  an Employee  must  complete at least 1,000 Hours of Employment
during each  12-consecutive-  month period (measured from his date of Employment
and each anniversary  thereafter).  Where an Employer  designates an eligibility
waiting  period of less than 12  months,  an  Employee  must,  for  purposes  of
eligibility,  complete a  required  number of hours  (measured  from his date of
Employment and each anniversary  thereafter)  which is arrived at by multiplying
the number of months of the eligibility waiting period requirement by 83 1/3.

Section 2.2  Exclusion of Certain Employees

To the extent provided in the Adoption Agreement, the following Employees may be
excluded from participation in the Plan:

  (i)   Employees not meeting the age and service requirements;

 (ii)   Employees  who  are  included  in  a  unit  of  Employees  covered  by a
        collective bargaining agreement between the Employee representatives and
        one or more Employers if there is evidence that retirement benefits were
        the   subject   of  good  faith   bargaining   between   such   Employee
        representatives  and  such  Employer(s).  For  this  purpose,  the  term
        "Employee  representative"  does not include any organization where more
        than  one-half of the  membership  is comprised of owners,  officers and
        executives of the Employer;

(iii)   Employees  who are  nonresident  aliens and who receive no earned income
        from the  Employer  which  constitutes  income from  sources  within the
        United States; and

                                        9

<PAGE>

(iv)    Employees  described in Section 2.4 or included in any other  ineligible
        job classifications set forth in the Adoption Agreement.

Section 2.3  Waiver of Eligibility Requirements

The Employer,  at its election,  may waive the  eligibility  requirement(s)  for
participation  specified above for (i) all Employees, or (ii) all those employed
on or up to 12 months after its Commencement Date under the Plan. Subject to the
requirements of the Code, the eligibility waiting period shall be deemed to have
been satisfied for an Employee who was previously a Member of the Plan.

All  Employees  whose  Employment  commences  after the  expiration  date of the
Employer's waiver of the eligibility  requirement(s),  if any, shall be enrolled
in the Plan in accordance with the eligibility  requirement(s)  specified in the
Adoption Agreement.

Section 2.4  Exclusion of Non-salaried Employees

The Employer, at its election,  may exclude non-salaried (hourly paid) Employees
from participation in the Plan,  regardless of the number of Hours of Employment
such Employees  complete in any Plan Year.  Notwithstanding  the foregoing,  for
purposes  of this  Section  and all  purposes  under  the Plan,  a  non-salaried
Employee that is hired  following the adoption date of the Plan by the Employer,
but prior to the adoption of this  exclusion by the Employer,  shall continue to
be deemed to be an Employee  and will  continue to receive  benefits on the same
basis as a salaried Member, despite classification as a non-salaried Employee.

Section 2.5  Commencement of Participation

Every eligible Employee (other than non-salaried or such other Employees who, at
the election of the Employer,  are excluded from  participation)  shall commence
participation in the Plan on the later of:

     (1)  The Employer's Commencement Date, or

     (2)  The first day of the month or calendar  quarter (as  designated by the
          Employer in the Adoption Agreement)  coinciding with or next following
          his  satisfaction of the eligibility  requirements as specified in the
          Adoption Agreement.

                                       10

<PAGE>

The date that  participation  commences shall be hereinafter  referred to as his
Enrollment  Date.  Notwithstanding  the  above,  no  Employee  shall  under  any
circumstances  become a Member unless and until his  enrollment  application  is
filed with,  and accepted  by, the Plan  Administrator.  The Plan  Administrator
shall notify each  Employee of his  eligibility  for  membership in the Plan and
shall furnish him with an enrollment  application  in order that he may elect to
make or receive  contributions  on his behalf under  Article III at the earliest
possible date consonant with this Article.

If an Employee fails to complete the enrollment  form furnished to him, the Plan
Administrator  shall do so on his  behalf.  In the event the Plan  Administrator
processes the enrollment  form on behalf of the Employee,  the Employee shall be
deemed to have elected not to make any contributions  and/or elective  deferrals
under the Plan, if applicable.

Section 2.6  Termination of Participation

Membership  under all features and  provisions of the Plan shall  terminate upon
the earlier of (a) a Member's  termination  of Employment  and payment to him of
his entire vested interest, or (b) his death.

                                       11

<PAGE>

                                   ARTICLE III
                                  CONTRIBUTIONS

Section 3.1  Contributions by Members

If  the  Adoption  Agreement  so  provides,   each  Member  may  elect  to  make
non-deductible,  after-tax contributions under the Plan, based on increments of
1% of his Salary,  provided the amount thereof,  when aggregated with the amount
of any pre-tax effective deferrals, does not exceed the limit established by the
Employer in the Adoption  Agreement.  All such after-tax  contributions shall be
separately accounted for, nonforfeitable and distributed with and in addition to
any other benefit to which the Member is entitled hereunder. A Member may change
his contribution  rate as designated in the Adoption  Agreement,  but reduced or
suspended contributions may not subsequently be made up.

Section 3.2  Elective Deferrals by Members

If the Adoption  Agreement  so  provides,  each Member may elect to make pre-tax
elective  deferrals (401(k) deferrals) under the Plan, based on increments of 1%
of his Salary,  provided the amount thereof,  when aggregated with the amount of
any  after-tax  contributions,  does not  exceed  the limit  established  by the
Employer  in  the  Adoption  Agreement.  All  such  401(k)  deferrals  shall  be
separately  accounted for,  nonforfeitable  and distributed  under the terms and
conditions described under Article VII with and in addition to any other benefit
to which the  Member is  entitled  hereunder.  A Member  may  change  his 401(k)
deferral  rate or suspend his 401(k)  deferrals  as  designated  in the Adoption
Agreement, but reduced or suspended deferrals may not subsequently be made up.

Notwithstanding  any other  provision  of the Plan,  no Member  may make  401(k)
deferrals during any Plan Year in excess of $7,000  multiplied by the adjustment
factor as provided by the Secretary of the Treasury. The adjustment factor shall
mean the cost of living  adjustment  factor  prescribed  by the Secretary of the
Treasury under Section  402(g)(5) of the Code for years beginning after December
31,  1987,  as applied to such items and in such manner as the  Secretary  shall
provide.  In the event that the aggregate  amount of such 401(k) deferrals for a
Member  exceeds the  limitation  in the  previous  sentence,  the amount of such
excess,  increased  by any  income  and  decreased  by any  losses  attributable
thereto, shall be refunded to such Member no later than the April 15 of the Plan
Year following the Plan Year for which the 401(k) deferrals were made. If Member
also  participates,  in  any  Plan  Year,  in any  other  plans  subject  to the
limitations  set forth in Section  402(g) of the Code and has made excess 401(k)
deferrals  under this Plan when  combined  with the other plans  subject to such
limits,  to the extent the Member, in writing submitted to the TPA no later than
the March 1 of the Plan  Year  following  the Plan  Year for  which  the  401(k)
deferrals were made,  designates any 401(k)  deferrals under this Plan as excess
deferrals,  the amount of such  designated  excess,  increased by any income and
decreased by any losses attributable thereto, shall be refunded to the Member no
later than the April 15 of the Plan Year  following  the Plan Year for which the
401(k) deferrals were made.

                                       12

<PAGE>

Section 3.3  Transfer of Funds and Rollover Contributions by Members

Each Member may elect to make, directly or indirectly,  a rollover  contribution
to the Plan of  amounts  held on his  behalf  in (i) an  employee  benefit  plan
qualified  under Section  401(a) of the Code,  or (ii) an individual  retirement
account or annuity as  described  in  Section  408(d)(3)  of the Code.  All such
amounts  shall be  certified  in form  and  substance  satisfactory  to the Plan
Administrator  by the  Member  as  being  all or part of an  "eligible  rollover
distribution"  or a  "rollover  contribution"  within  the  meaning  of  Section
402(c)(4)  or  Section  408(d)(3),  respectively,  of the  Code.  Such  rollover
amounts,  along  with  the  earnings  related  thereto,  will be  accounted  for
separately from any other amounts in the Member's Account. A Member shall have a
nonforfeitable vested interest in all such rollover amounts.

The Employer  may, at its option,  permit  Employees  who have not satisfied the
eligibility requirements designated in the Adoption Agreement to make a rollover
contribution to the Plan.

The Trustee of the Plan may also accept a direct transfer of funds,  which meets
the requirements of Section 1.411(d)-4 of the IRS Regulations, from a plan which
the Trustee reasonably believes to be qualified under Section 401(a) of the Code
in which an Employee was, is, or will become, as the case may be, a participant.
If the funds so directly  transferred  are  transferred  from a retirement  plan
subject to Code  Section  401(a)(11),  then such funds  shall be  accounted  for
separately and any subsequent distribution of those funds, and earnings thereon,
shall be subject to the provisions of Section 7.3 which are  applicable  when an
Employer elects to provide an annuity option under the Plan.

Section 3.4  Employer Contributions -- General

The Employer may elect to make regular or discretionary  contributions under the
Plan.  Such  Employer   contributions  may  be  in  the  form  of  (i)  matching
contributions,   (ii)  basic   contributions,   and/or  (iii)   profit   sharing
contributions as designated by the Employer in the Adoption Agreement and/or (i)
supplemental  contributions and/or (ii) qualified  nonelective  contributions as
permitted  under  the Plan.  Each such  contribution  type  shall be  separately
accounted for by the TPA.

Section 3.5  Employer Matching Contributions

The Employer may elect to make regular  matching  contributions  under the Plan.
Such matching  contributions  on behalf of any Member shall be conditioned  upon
the Member  making  after-tax  contributions  under  Section  3.1 and/or  401(k)
deferrals under Sections 3.2 and 3.9.

                                       13

<PAGE>

If so adopted, the Employer shall contribute under the Plan on behalf of each of
its Members an amount equal to a percentage (as specified by the Employer in the
Adoption  Agreement)  of the  Member's  after-tax  contributions  and/or  401(k)
deferrals not in excess of a maximum  percentage as specified by the Employer in
the Adoption  Agreement  (in  increments  of 1%) of his Salary.  The  percentage
elected by the Employer shall be based on 1% increments not to exceed 200% or in
accordance  with one of the schedules of matching  contribution  formulas listed
below, and must be uniformly applicable to all Members.

                                Years of Employment         Matching %
                                -------------------         ----------
          Formula Step 1     Less than 3                        50%
                             At least 3 but less than 5         75%
                             5 or more                         100%

          Formula Step 2     Less than 3                       100%
                             At least 3 but less than 5        150%
                             5 or more                         200%

Section 3.6  Employer Basic Contributions

The Employer may elect to make regular basic  contributions under the Plan. Such
basic  contributions  on behalf of any Member shall not be conditioned  upon the
Member making  after- tax  contributions  and/or  (401(k)  deferrals  under this
Article III. If so adopted, the Employer shall contribute monthly under the Plan
on  behalf  of  each  Member  (as  specified  by the  Employer  in the  Adoption
Agreement)  an amount equal to a percentage  not to exceed 15% (as  specified by
the  Employer in the Adoption  Agreement)  in  increments  of 1% of the Member's
Salary for such month. The percentage elected by the Employer shall be uniformly
applicable to all Members.  The Employer may elect to restrict the allocation of
such basic  contribution to those Members who were employed with the Employer on
the last day of the month for which the basic contribution is made.

Section 3.7  Supplemental Contributions by Employer

An Employer may, at its option,  make a supplemental  contribution under Formula
(1) or (2) below:

Formula (1)  A  uniform  percentage  (as  specified  by the  Employer)  of  each
             Member's  contributions  which were received by the Plan during the
             Plan  Year with  respect  to which  the  supplemental  contribution
             relates.  If the  Employer  elects  to  make  such  a  supplemental
             contribution,  it  shall be made on or  before  the last day of the
             second month in the Plan Year  following the Plan Year described in
             the  preceding  sentence  on behalf of all those  Members  who were
             employed with the Employer on the last working day of the Plan Year
             with respect to which the supplemental contribution relates.

                                       14

<PAGE>

Formula (2)  A uniform dollar amount per Member or a uniform  percentage of each
             Member's  Salary  for the Plan Year  (or,  at the  election  of the
             Employer,  the  Employer's  fiscal year) to which the  supplemental
             contribution  relates.  If  the  Employer  elects  to  make  such a
             supplemental  contribution,  it shall be made on or before the last
             day of the  second  month in the Plan  Year  (or the  fiscal  year)
             following  the Plan  Year (or the  fiscal  year)  described  in the
             preceding sentence on behalf of all those Members who were employed
             with the  Employer on the last working day of the Plan Year (or the
             fiscal year) to which the supplemental  contribution  relates.  The
             percentage  contributed  under this Formula (2) shall be limited in
             accordance   with  the  Employer's   matching   formula  and  basic
             contribution  rate, if any, under this Article such that the sum of
             the Employer's Formula (2) supplemental contribution plus all other
             Employer  contributions  under this Article shall not exceed 15% of
             Salary for such year.

Section 3.8  The Profit Sharing Feature

An Employer may, at its option,  adopt the Profit  Sharing  Feature as described
herein,  subject to any other  provisions of the Plan,  where  applicable.  This
Feature  may be  adopted  either in lieu of, or in  addition  to, any other Plan
Feature contained in this Article III. The Profit Sharing Feature is designed to
provide the Employer a means by which to provide discretionary  contributions on
behalf of Employees eligible under the Plan.

If this Profit Sharing Feature is adopted, the Employer may contribute on behalf
of each  of its  eligible  Members,  on an  annual  (or at the  election  of the
Employer,  quarterly) basis for any Plan Year or fiscal year of the Employer (as
the Employer  shall  elect),  a  discretionary  amount not to exceed the maximum
amount  allowable as a deduction to the Employer under the provisions of Section
404 of the Code, and further subject to the provisions of Article X.

Any such  profit  sharing  contribution  must be  received  by the Trustee on or
before the last  business  day of the second  month  following  the close of the
Contribution  Determination  Period  on  behalf  of all  those  Members  who are
entitled to an allocation of such profit  sharing  contribution  as set forth in
the Adoption Agreement. For purposes of making the allocations described in this
paragraph, a Member who is on a Type 1 non-military Leave of Absence (as defined
in Sections  1.2(U) and  10.8(B)(1))  or a Type 4 military  Leave of Absence (as
defined  in  Sections  1.2(U) and  10.8(B)(4))  shall be treated as if he were a
Member who was an Employee in  Employment  on the last day of such  Contribution
Determination Period.

                                       15

<PAGE>

Profit sharing contributions shall be allocated to each Member's Account for the
Contribution Determination Period at the election of the Employer, in accordance
with one of the following options:

Profit Sharing Formula 1 - In the same ratio as each Member's Salary during such
                           Contribution Determination Period bears  to the total
                           of such Salary of all Members.

Profit Sharing Formula 2 - In the same  ratio as  each  Member's Salary  for the
                           portion  of  the  Contribution  Determination  Period
                           during  which  the  Member  satisfied  the Employer's
                           eligibility requirement(s) bears to the total of such
                           Salary of all Members.

The Employer may integrate the Profit  Sharing  Feature with Social  Security in
accordance  with  the  following  provision.   The  annual  (or  quarterly,   if
applicable)  profit sharing  contributions  for any  Contribution  Determination
Period (which period shall  include,  for the purposes of the following  maximum
integration  levels provided  hereunder where the Employer has elected quarterly
allocations of  contributions,  the four quarters of a Plan Year or fiscal year)
shall be allocated to each Member's Account at the election of the Employer,  in
accordance with one of the following options:

                                       16

<PAGE>

Profit Sharing Formula 3 - In a uniform percentage (as specified by the Employer
                           in the  Adoption Agreement)  of each  Member's Salary
                           during the  Contribution  Determination  Period up to
                           the  Social  Security  Taxable  Wage  Base  for  such
                           Contribution   Determination   Period    (the   "Base
                           Contribution Percentage"),  plus a uniform percentage
                           (as  specified   by  the  Employe   in  the  Adoption
                           Agreement)   of   each   Member's   Salary   for  the
                           Contribution  Determination  Period  in excess of the
                           Social  Security   Taxable  Wage   Base    for   such
                           Contribution   Determination  Period   (the   "Excess
                           Contribution Percentage").

Profit Sharing Formula 4 - In a uniform percentage (as specified by the Employer
                           in the  Adoption Agreement)  of each  Member's Salary
                           for  the  portion  of the  Contribution Determination
                           Period   during  which   the  Member   satisfied  the
                           Employer's eligibility requirement(s),  if any, up to
                           the    Base   Contribution   Percentage    for   such
                           Contribution  Determination  Period,  plus  a uniform
                           percentage  (as specified  by  the  Employer  in  the
                           Adoption Agreement)  of each  Member's Salary for the
                           portion  of  the  Contribution  Determination  Period
                           during  which  the  Member  satisfied  the Employer's
                           eligibility  requirement(s),   equal  to  the  Excess
                           Contribution Percentage.

The Excess Contribution  Percentage described in Profit Sharing Formulas 3 and 4
above may not exceed the lesser of (i) the Base Contribution Percentage, or (ii)
the greater of (1) 5.7% or (2) the  percentage  equal to the portion of the Code
Section   3111(a)  tax  imposed  on  employers   under  the  Federal   Insurance
Contributions  Act (as in effect as of the  beginning of the Plan Year) which is
attributable  to  old-age   insurance.   For  purposes  of  this   Subparagraph,
"compensation" as defined in Section 414(s) of the Code shall be substituted for
"Salary"  in  determining  the  Excess  Contribution  Percentage  and  the  Base
Contribution Percentage.

Notwithstanding  the foregoing,  the Employer may not adopt the Social  Security
integration options provided above if any other integrated defined  contribution
or defined  benefit plan is maintained by the Employer  during any  Contribution
Determination Period.

                                       17

<PAGE>

Section 3.9  The 401(k) Feature

The Employer may, at its option,  adopt the 401(k) Feature  described  hereunder
and in Section 3.2 above for the exclusive  purpose of permitting its Members to
make 401(k) deferrals to the Plan.

The Employer may make,  apart from any  matching  contributions  it may elect to
make,  Employer  qualified  nonelective  contributions  as  defined  in  Section
1.401(k)-1(g)(13) of the Regulations. The amount of such contributions shall not
exceed 15% of the Salary of all Members eligible to share in the allocation when
combined with all Employer  contributions  (including 401(k) elective deferrals)
to the Plan for such Plan Year.  Allocation of such contributions shall be made,
at the election of the  Employer,  to the  accounts of (i) all Members,  or (ii)
only  Members  who are not  Highly  Compensated  Employees.  Allocation  of such
contributions  shall be made, at the election of the Employer,  in the ratio (i)
which each eligible  Member's Salary for the Plan Year bears to the total Salary
of all eligible Members for such Plan Year, or (ii) which each eligible Member's
Salary not in excess of a fixed dollar amount  specified by the Employer for the
Plan Year bears to the total Salary of all eligible  Members taking into account
Salary  for each  such  Member  not in excess of the  specified  dollar  amount.
Notwithstanding  any provision of the Plan to the contrary,  such  contributions
shall be subject to the same vesting requirements and distribution  restrictions
as Members'  401(k)  deferrals and shall not be  conditioned  on any election or
contribution of the Member under the 401(k) feature. Any such contributions must
be made on or before  the last day of the  second  month  after the Plan Year to
which the  contribution  relates.  Further,  for purposes of the actual deferral
percentage or actual contribution percentage tests described below, the Employer
may apply (in accordance with applicable  Regulations) all or any portion of the
Employer  qualified  nonelective  contributions  for the Plan  Year  toward  the
satisfaction  of the actual  deferral  percentage  test. Any remaining  Employer
qualified nonelective  contributions not utilized to satisfy the actual deferral
percentage test may be applied (in accordance  with  applicable  Regulations) to
satisfy the actual contribution percentage test.

Notwithstanding any other provision of this 401(k) Feature,  the actual deferral
percentages for the Plan Year for Highly Compensated  Employees shall not exceed
the  greater  of the  following  actual  deferral  percentages:  (a) the  actual
deferral  percentage  for such Plan Year of those  Employees  who are not Highly
Compensated  Employees multiplied by 1.25; or (b) the actual deferral percentage
for the Plan Year of those  Employees who are not Highly  Compensated  Employees
multiplied by 2.0,  provided that the actual deferral  percentage for the Highly
Compensated  Employees does not exceed the actual  deferral  percentage for such
other Employees by more than 2 percentage points.  This  determination  shall be
made in accordance with the procedure described in Section 3.10 below.

                                       18

<PAGE>

Section 3.10  Determining the Actual Deferral Percentages

For purposes of this 401(k) Feature, the "actual deferral percentage" for a Plan
Year means,  for each  specified  group of Employees,  the average of the ratios
(calculated  separately  for each  Employee  in such group) of (a) the amount of
401(k) deferrals (including,  as provided in Section 3.9, any Employer qualified
nonelective  contributions)  made to the Member's  account for the Plan Year, to
(b) the amount of the Member's compensation (as defined in Section 414(s) of the
Code) for the Plan Year or,  alternatively,  where  specifically  elected by the
Employer,  for only that  part of the Plan Year  during  which  the  Member  was
eligible to participate in the Plan. An Employee's  actual  deferral  percentage
shall be zero if no 401(k)  deferral  (or, as provided in Section 3.9,  Employer
qualified nonelective contribution) is made on his behalf for such Plan Year. If
the Plan and one or more other plans which include cash or deferred arrangements
are considered as one plan for purposes of Sections  401(a)(4) and 410(b) of the
Code, the cash or deferred  arrangements included in such plans shall be treated
as one arrangement for purposes of this 401(k) Feature.

For purposes of determining the actual deferral  percentage of a Member who is a
Highly  Compensated  Employee subject to the family aggregation rules of Section
414(q)(6) of the Code because such  Employee is either a  five-percent  owner or
one of the ten  most  Highly  Compensated  Employees  as  described  in  Section
414(q)(6) of the Code, the 401(k) deferrals,  contributions and compensation (as
defined in  Section  414(s) of the Code) of such  Member  shall  include  401(k)
deferrals,  contributions  and compensation (as defined in Section 414(s) of the
Code) of "family members",  within the meaning of Section 414(q)(6) of the Code,
and such  "family  members"  shall not be  considered  as separate  Employees in
determining actual deferral percentages.

The TPA shall determine as of the end of the Plan Year whether one of the actual
deferral  percentage  tests specified in Section 3.9 above is satisfied for such
Plan  Year.  This  determination  shall  be made  after  first  determining  the
treatment of excess  deferrals  within the meaning of Section 402(g) of the Code
under  Section  3.2 above.  In the event that  neither of such  actual  deferral
percentage tests is satisfied,  the TPA shall, to the extent  permissible  under
the Code and the IRS Regulations,  refund the excess  contributions for the Plan
Year in the following order of priority:  by (i) refunding such amounts deferred
by the Member  which were not  matched by his  Employer  (and any  earnings  and
losses allocable thereto), and (ii)

                                       19

<PAGE>

refunding  amounts  deferred  for such Plan Year by the Member (and any earnings
and losses  allocable  thereto),  and, solely to the extent  permitted under the
Code  and  applicable  IRS  Regulations,  distributing  to  the  Member  amounts
contributed  for such Plan Year by the  Employer  with  respect to the  Member's
401(k) deferrals that are returned  pursuant to this Paragraph (and any earnings
and losses allocable thereto).

The  distribution  of  such  excess   contributions  shall  be  made  to  Highly
Compensated  Members to the extent  practicable before the 15th day of the third
month  immediately  following the Plan Year for which such excess  contributions
were made,  but in no event later than the end of the Plan Year  following  such
Plan  Year or, in the case of the  termination  of the Plan in  accordance  with
Article  XI,  no  later  than  the end of the  twelve-month  period  immediately
following the date of such termination.

For purposes of this 401(k) Feature,  "excess contributions" means, with respect
to any Plan Year,  the excess of the aggregate  amount of 401(k)  deferrals (and
any  earnings  and losses  allocable  thereto)  made to the  accounts  of Highly
Compensated  Members  for such  Plan  Year,  over  the  maximum  amount  of such
deferrals that could be made by such Members without  violating the requirements
described above, determined by reducing 401(k) deferrals made by or on behalf of
Highly Compensated Members in order of the actual deferral percentages beginning
with the highest of such percentages.

Section 3.11 Determining the Actual Contribution Percentages

Notwithstanding   any  other   provision  of  this  Section  3.11,   the  actual
contribution percentage for the Plan Year for Highly Compensated Employees shall
not exceed the greater of the following actual contribution percentages: (a) the
actual contribution percentage for such Plan Year of those Employees who are not
Highly Compensated  Employees multiplied by 1.25, or (b) the actual contribution
percentage for the Plan Year of those  Employees who are not Highly  Compensated
Employees  multiplied by 2.0, provided that the actual  contribution  percentage
for the Highly  Compensated  Employees  does not exceed the actual  contribution
percentage  for such  other  Employees  by more than 2  percentage  points.  For
purposes of this Article III, the "actual  contribution  percentage"  for a Plan
Year means,  for each  specified  group of Employees,  the average of the ratios
(calculated  separately  for each  Employee in such group) of (A) the sum of (i)
Member after-tax  contributions  credited to his Account for the Plan Year, (ii)
Employer matching contributions and/or supplemental  contributions under Formula
1 credited to his Account as described  in this  Article for the Plan Year,  and
(iii) in  accordance  with and to the extent  permitted by the IRS  Regulations,
401(k)  deferrals  (and,  as provided in Section  3.9,  any  Employer  qualified
nonelective  contributions)  credited to his  Account,  to (B) the amount of the
Member's  compensation  (as defined in Section  414(s) of the Code) for the Plan
Year or,  alternatively,  where specifically  elected by the Employer,  for only
that part of the Plan

                                       20

<PAGE>

Year  during  which the Member  was  eligible  to  participate  in the Plan.  An
Employee's actual contribution percentage shall be zero if no such contributions
are made on his behalf for such Plan Year.

The actual contribution percentage taken into account for any Highly Compensated
Employee  who is  eligible  to make  Member  contributions  or receive  Employer
matching  contributions  under two 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 shall be determined as if all such contributions were
made under a single plan.  For purposes of determining  the actual  contribution
percentage  of a Member  who is a Highly  Compensated  Employee  subject  to the
family aggregation rules of Section 414(q)(6) of the Code because such Member is
either a five- percent owner or one of the ten most Highly Compensated Employees
as  described  in  Section   414(q)(6)  of  the  Code,  the  Employer   matching
contributions  and Member  contributions and compensation (as defined in Section
414(s) of the Code) of such Member  shall  include  the  Employer  matching  and
Member contributions and compensation (as defined in Section 414(s) of the Code)
of "family  members,"  within the meaning of Section  414(q)(6) of the Code, and
such  "family  members"  shall  not  be  considered  as  separate  Employees  in
determining actual contribution percentages.

The TPA shall determine as of the end of the Plan Year whether one of the actual
contribution  percentage  tests specified above is satisfied for such Plan Year.
This determination shall be made after first determining the treatment of excess
deferrals  within the  meaning of Section  402(g) of the Code under  Section 3.2
above and then determining the treatment of excess  contributions  under Section
3.10  above.  In the event that  neither of the actual  contribution  percentage
tests is satisfied,  the TPA shall refund the excess aggregate  contributions in
the manner described below.

For purposes of this Article III, "excess aggregate  contributions"  means, with
respect  to any Plan Year and with  respect  to any  Member,  the  excess of the
aggregate  amount  of  contributions  (and any  earnings  and  losses  allocable
thereto) made as (i) Member after-tax  contributions credited to his Account for
the  Plan  Year,  (ii)  Employer  matching   contributions  and/or  supplemental
contributions  under  Formula 1 credited  to his  Account as  described  in this
Article  for the Plan  Year,  and  (iii) in  accordance  with and to the  extent
permitted by the IRS Regulations,  401(k) deferrals (and, as provided in Section
3.9, any Employer qualified

                                       21

<PAGE>

nonelective  contributions)  credited to his Account (if the Plan  Administrator
elects to take into account such deferrals and  contributions  when  calculating
the actual contribution  percentage) of Highly Compensated Members for such Plan
Year,  over the  maximum  amount  of such  contributions  that  could be made as
Employer  contributions,  Member  contributions  and  401(k)  deferrals  of such
Members without  violating the  requirements of any Subparagraph of this Section
3.11.

If the TPA is required to refund excess aggregate  contributions  for any Highly
Compensated  Member for a Plan Year in order to satisfy the  requirements of any
Subparagraph above, then the refund of such excess aggregate contributions shall
be  made  with  respect  to  such  Highly  Compensated  Members  to  the  extent
practicable  before the 15th day of the third month  immediately  following  the
Plan Year for which such excess  aggregate  contributions  were made,  but in no
event  later than the end of the Plan Year  following  such Plan Year or, in the
case of the termination of the Plan in accordance with Article XI, no later than
the  end of the  twelve-month  period  immediately  following  the  date of such
termination.

For each such  Member,  the amounts so refunded  shall be made in the  following
order of priority:  (i) to the extent that the amounts contributed by the Member
on an  after-tax  basis for such  Plan  Year  exceed  the  highest  rate of such
contributions with respect to which amounts were contributed by the Employer, by
refunding  such amounts  contributed by the Member which were not matched by his
Employer (and any earnings and losses  allocable  thereto) and (ii) by refunding
amounts  contributed  for such Plan Year by the Member which were matched by his
Employer  (and any earnings and losses  allocable  thereto)  and,  solely to the
extent permitted under the Code and applicable IRS Regulations,  distributing to
the Member amounts  contributed  for such Plan Year by the Employer with respect
to the amounts so returned (and any earnings and losses allocable thereto).  All
such  distributions  shall be made  to,  or shall  be with  respect  to,  Highly
Compensated  Members on the basis of the  respective  portions  of such  amounts
attributable to each such Highly Compensated Member.

Section 3.12         The Aggregate Limit Test

Notwithstanding  any other provision of the Plan, the sum of the actual deferral
percentage and the actual contribution  percentage determined in accordance with
the procedures  described  above of those  Employees who are Highly  Compensated
Employees may not exceed the aggregate limit as determined below.

                                       22

<PAGE>

For purposes of this Article III, the  "aggregate  limit" for a Plan Year is the
greater of:

     (1)    The sum of:

            (a)   1.25  times  the  greater  of  the  relevant  actual  deferral
                  percentage or the relevant actual contribution percentage, and

            (b)   Two percentage  points plus the lesser of the relevant  actual
                  deferral   percentage  or  the  relevant  actual  contribution
                  percentage.  In no event,  however,  shall this amount  exceed
                  twice the lesser of the relevant actual deferral percentage or
                  the relevant actual contribution percentage; or

     (2)    The sum of:

            (a)   1.25  times  the  lesser  of  the  relevant   actual  deferral
                  percentage or the relevant actual contribution percentage, and

            (b)   Two percentage  points plus the greater of the relevant actual
                  deferral   percentage  or  the  relevant  actual  contribution
                  percentage.  In no event,  however,  shall this amount  exceed
                  twice the greater of the relevant actual  deferral  percentage
                  or the  relevant  actual  contribution  percentage;  provided,
                  however,  that if a less restrictive  limitation is prescribed
                  by the  IRS,  such  limitation  shall  be  used in lieu of the
                  foregoing.   The  relevant  actual  deferral   percentage  and
                  relevant  actual   contribution   percentage  are  defined  in
                  accordance with the Code and the IRS Regulations.

The TPA shall  determine  as of the end of the Plan Year  whether the  aggregate
limit  has  been  exceeded.   This  determination  shall  be  made  after  first
determining  the  treatment  of excess  deferrals  within the meaning of Section
402(g) of the Code under Section 3.2 above,  then  determining  the treatment of
excess  contributions  under  Section  3.10  above,  and  then  determining  the
treatment of excess aggregate contributions under this Article III. In the event
that the  aggregate  limit is exceeded,  the actual  contribution  percentage of
those  Employees who are Highly  Compensated  Employees  shall be reduced in the
same manner as described in Section  3.11 of this  Article  until the  aggregate
limit is no longer exceeded, unless the TPA designates, in lieu of the reduction
of the  actual  contribution  percentage  a  reduction  in the  actual  deferral
percentage  of those  Employees  who are  Highly  Compensated  Employees,  which
reduction  shall occur in the same manner as  described  in Section 3.10 of this
Article until the aggregate  limit is no longer  exceeded.  Notwithstanding  the
provisions of Sections 3.2 and 3.10 above, the amount of excess contributions to
be distributed, with respect to a Member

                                       23

<PAGE>

for a Plan Year,  shall be reduced by any excess  deferrals  distributed to such
Member for such Plan Year.

Section 3.13 Remittance of Contributions

The contributions of both the Employer and the Plan Members shall be recorded by
the Employer and remitted to the TPA for transmittal to the Trustee or custodian
or directly to the Trustee or custodian  so that the Trustee or custodian  shall
be in receipt  thereof by the 15th day of the month next  following the month in
respect of which such  contributions are payable.  Such amounts shall be used to
provide additional Units pursuant to Article V.

                                       24

<PAGE>

Section 4.1 Investment by Trustee or Custodian

All  contributions  to the Plan shall,  upon receipt by the TPA, be delivered to
the  Trustee  or  custodian  to be held  in the  Trust  Fund  and  invested  and
distributed by the Trustee or custodian in accordance with the provisions of the
Plan and Trust  Agreement.  The Trust Fund  shall  consist of one or more of the
Investment Funds designated by the Employer in the Adoption Agreement.

With the exception of the Employer  Stock Fund or, if  applicable,  the Employer
Certificate  of Deposit  Fund,  the  Trustee  may in its  discretion  invest any
amounts held by it in any Investment  Fund in any commingled or group trust fund
described in Section  401(a) of the Code and exempt under Section  501(a) of the
Code or in any common trust fund exempt under Section 584 of the Code,  provided
that such trust fund satisfies any  requirements  of the Plan applicable to such
Investment  Funds.  To the  extent  that the  Investment  Funds  are at any time
invested in any commingled, group or common trust fund, the declaration of trust
or other  instrument  pertaining  to such fund and any  amendments  thereto  are
hereby adopted as part of the Plan.

The Employer will  designate in the Adoption  Agreement  which of the Investment
Funds  described  therein  will be made  available  to Members and the terms and
conditions  under  which such  Funds  will  operate  with  respect  to  employee
direction of  allocations  to and among such  designated  Funds and the types of
contributions and/or deferrals eligible for investment therein.

Section 4.2 Member Directed Investments

To the extent permitted by the Employer as set forth in the Adoption  Agreement,
each Member shall direct in writing that his  contributions  and  deferrals,  if
any, and the contributions  made by the Employer on his behalf shall be invested
(a) entirely in any one of the Investment  Funds made available by the Employer,
or (b) among the available  Investment  Funds in any combination of multiples of
1%. If a Member has made any Rollover  contributions  in accordance with Article
III, Section 3.3, such Member may elect to apply separate investment  directions
to such rollover amounts. Any such investment direction shall be followed by the
TPA until changed. Subject to the provisions of the following paragraphs of this
Section, as

                                       25

<PAGE>

designated  in the  Adoption  Agreement,  a Member  may  change  his  investment
direction as to future contributions and also as to the value of his accumulated
Units in each of the available  Investment  Funds by filing  written notice with
the TPA. Such directed  change(s) will become  effective upon the Valuation Date
coinciding  with or next following the date which his notice was received by the
TPA or as soon  as  administratively  practicable  thereafter.  If the  Adoption
Agreement  provides for Member  directed  investments,  and if a Member does not
make a written  designation of an Investment Fund or Funds,  the Employer or its
designee  shall  direct the  Trustee to invest all  amounts  held or received on
account of the such  Member in the  Investment  Fund which in the opinion of the
Employer best protects principal.

Except as otherwise  provided below, a Member may not direct a transfer from the
Stable  Value Fund to the  Government  Money  Market Fund. A Member may direct a
transfer from the 500 Stock Index Fund, the Midcap 400 Stock Index Fund,  and/or
the  Employer  Stock Fund to the  Government  Money  Market Fund  provided  that
amounts previously transferred from the Stable Value Fund to the 500 Stock Index
Fund,  the Midcap 400 Stock Index Fund or the Employer Stock Fund remain in such
Funds for a period of three months prior to being  transferred to the Government
Money Market Fund.

Section 4.3 Employer Securities

If the Employer so elects in the Adoption Agreement, the Employer and/or Members
may direct that contributions will be invested in Qualifying Employer Securities
(within the meaning of Section  407(d)(5) of ERISA)  through the Employer  Stock
Fund.

                                       26

<PAGE>

                                    ARTICLE V
                     MEMBERS' ACCOUNTS, UNITS AND VALUATION

The TPA shall  establish  and  maintain an Account  for each Member  showing his
interests in the available  Investment  Funds,  as designated by the Employer in
the  Adoption  Agreement.   The  interest  in  each  Investment  Fund  shall  be
represented by Units.

As of each Valuation  Date, the value of a Unit in each Investment Fund shall be
determined by dividing (a) the sum of the net assets at market value  determined
by the Trustee by (b) the total number of outstanding Units.

The number of  additional  Units to be credited  to a Member's  interest in each
available  Investment  Fund,  as of any Valuation  Date,  shall be determined by
dividing (a) that portion of the aggregate contributions and/or deferrals by and
on behalf of the Member  which was  directed to be  invested in such  Investment
Fund and received by the Trustee by (b) the Unit value of such Investment Fund.

The value of a Member's  Account may be determined  as of any Valuation  Date by
multiplying the number of Units to his credit in each available  Investment Fund
by that Investment Fund's Unit Value on such date and aggregating the results.

                                       27

<PAGE>

                                   ARTICLE VI
                                VESTING OF UNITS

Section 6.1 Vesting of Member Contributions and/or Deferrals

All Units credited to a Member's Account based on after-tax contributions and/or
401(k) deferrals made by the Member and any earnings related thereto  (including
any rollover  contributions  allocated to a Member's  Account under the Plan and
any  earnings  thereon)  and,  as provided in Section  3.9,  Employer  qualified
nonelective contributions made on behalf of such Member shall be immediately and
fully vested in him at all times.

Section 6.2 Vesting of Employer Contributions

The Employer may, at its option,  elect one of the available  vesting  schedules
described herein for each of the employer  contribution  types applicable to the
Plan as designated in the Adoption Agreement.

Schedule 1: All  applicable  Units  shall  immediately  and  fully  vest. If the
            eligibility requirement(s) selected by the Employer under Article II
            require(s) that an Employee complete a period of Employment which is
            longer than 12 consecutive  months, this vesting Schedule 1 shall be
            automatically applicable.

Schedule 2: All  applicable  Units shall  become nonforfeitable and fully vested
            in accordance with the schedule set forth below:

                   Completed                           Vested
              Years of Employment                    Percentage
              -------------------                    ----------
                Less than 2                               0%
                2 but less than 3                        20%
                3 but less than 4                        40%
                4 but less than 5                        60%
                5 but less than 6                        80%
                6 or more                               100%

Schedule 3: All applicable  Units shall  become  nonforfeitable and fully vested
            in accordance with the schedule set forth below:

                                       28

<PAGE>

                  Completed                             Vested
             Years of Employment                      Percentage
             -------------------                      ----------
                  Less than 5                              0%
                  5 or more                              100%

Schedule 4: All applicable Units shall become nonforfeitable and fully vested in
            accordance with the schedule set forth below:

                  Completed                             Vested
             Years of Employment                      Percentage
             -------------------                      ----------
                  Less than 3                              0%
                  3 or more                              100%

Schedule 5: All applicable Units shall become nonforfeitable and fully vested in
            accordance with the schedule set forth below:

                  Completed                             Vested
             Years of Employment                      Percentage
             -------------------                      ----------
                 Less than 1                               0%
                 1 but less than 2                        25%
                 2 but less than 3                        50%
                 3 but less than 4                        75%
                 4 or more                               100%

Schedule 6: All applicable Units shall become nonforfeitable and fully vested in
            vested in accordance with the schedule set forth below:

                   Completed                            Vested
              Years of Employment                     Percentage
              -------------------                     ----------
                  Less than 3                              0%
                  3 but less than 4                       20%
                  4 but less than 5                       40%
                  5 but less than 6                       60%
                  6 but less than 7                       80%
                  7 or more                              100%

Schedule 7: All applicable Units shall become nonforfeitable and fully vested in
            accordance  with the schedule  set forth in the  Adoption  Agreement
            created by the Employer in accordance with applicable law.

                                       29

<PAGE>

Notwithstanding  the vesting schedules above, a Member's interest in his Account
shall  become  100% vested in the event that (i) the Member dies while in active
Employment and the TPA has received  notification of death,  (ii) the Member has
been approved for Disability, pursuant to the provisions of Article VII, and the
TPA has received  notification  of Disability,  or (iii) the Member has attained
Normal Retirement Age.

Except as otherwise  provided  hereunder,  in the event that the Employer adopts
the Plan as a successor  plan to another  defined  contribution  plan  qualified
under Sections  401(a) and 501(a) of the Code, or in the event that the Employer
changes or amends a vesting schedule adopted under this Article,  any Member who
was covered under such predecessor plan or, in the case of a change or amendment
to the  vesting  schedule,  any  Member  who has  completed  at least 3 Years of
Employment with the Employer may elect to have the nonforfeitable  percentage of
the portion of his Account  which is subject to such vesting  schedule  computed
under such predecessor plan's vesting provisions,  or computed without regard to
such change or amendment (a "Vesting Election"). Any Vesting Election made under
this  Subparagraph  shall be made by  notifying  the TPA in  writing  within the
election period  hereinafter  described.  The election period shall begin on the
date such amendment is adopted or the date such change is effective, or the date
the Plan which serves as a successor  plan is adopted or effective,  as the case
may be, and shall end no earlier than the latest of the following dates: (i) the
date which is 60 days after the day such  amendment  is  adopted;  (ii) the date
which is 60 days after the day such amendment or change becomes effective; (iii)
the date which is 60 days after the day the  Member is given  written  notice of
such  amendment  or change by the TPA;  (iv) the date which is 60 days after the
day the Plan is adopted by the  Employer or becomes  effective;  or (v) the date
which is 60 days after the day the Member is given written  notice that the Plan
has been  designated  as a successor  plan.  Any election  made pursuant to this
Subparagraph shall be irrevocable.

To the extent permitted under the Code and Regulations, the Employer may, at its
option,  elect to treat all Members who are eligible to make a Vesting  Election
as having made such Vesting Election.  Furthermore,  subject to the requirements
of the applicable Regulations,  the Employer may elect to treat all Members, who
were employed by the Employer on or before the  effective  date of the change or
amendment,  as  subject  to the prior  vesting  schedule,  provided  such  prior
schedule is more favorable.

Section 6.3 Forfeitures

If a  Member  who  was  partially  vested  in his  Account  on the  date  of his
termination of

                                       30

<PAGE>

Employment returns to Employment,  his Years of Employment prior to the Break(s)
in Service shall be included in  determining  future  vesting and, if he returns
before  incurring 5 consecutive one year Breaks in Service,  any Units forfeited
from his Account  shall be  restored  to his  Account,  including  all  interest
accrued during the intervening period; provided,  however, that if such a Member
has received a distribution pursuant to Article VII, his Account Units shall not
be  restored  unless he repays the full  amount  distributed  to him to the Plan
before the  earlier  of (i) 5 years  after the first date on which the Member is
subsequently  reemployed by the Employer,  or (ii) the close of the first period
of 5 consecutive one-year Breaks in Service commencing after the withdrawal. The
Units  restored to the  Member's  Account will be valued on the  Valuation  Date
coinciding  with or next  following  the later of (i) the date the  Employee  is
rehired,  or (ii) the date a new enrollment  application is received by the TPA.
If a Member terminates Employment without any vested interest in his Account, he
shall (i)  immediately  be deemed to have received a total  distribution  of his
Account and (ii)  thereupon  forfeit his entire  Account;  provided that if such
Member returns to Employment before the number of consecutive one-year Breaks in
Service equals or exceeds the greater of (i) 5, or (ii) the aggregate  number of
the Member's Years of Service prior to such Break in Service,  his Account shall
be restored in the same  manner as if such Member had been  partially  vested at
the time of his termination of Employment,  and his Years of Employment prior to
incurring  the  first  Break in  Service  shall be  included  in any  subsequent
determination of his vesting service.

Forfeited  amounts,  as  defined  in the  preceding  paragraph,  shall  be  made
available to the Employer,  through  transfer  from the Member's  Account to the
Employer  Credit  Account,  upon: (1) if the Member had a vested interest in his
Account at his  termination  of  Employment,  the  earlier of (i) the date as of
which the Member  receives a distribution  of his entire vested  interest in his
Account  or (ii) the date upon which the Member  incurs 5  consecutive  one-year
Breaks in Service, or (2) the date of the Member's termination of Employment, if
the Member then has no vested interest in his Account. Once so transferred, such
amounts shall be used at the option of the Employer to (i) reduce administrative
expenses  for  that   Contribution   Determination   Period,   (ii)  offset  any
contributions  to be made by the  Employer for that  Contribution  Determination
Period or (iii) be allocated to all eligible Members deemed to be employed as of
the last day of the  Contribution  Determination  Period.  The  Employer  Credit
Account,  referenced in this  Subparagraph,  shall be maintained to receive,  in
addition to the forfeitures  described above, (i) contributions in excess of the
limitations contained in Section 415 of the Code and (ii) Employer contributions
made in advance of the date allocable to Members, if any.

                                       31

<PAGE>

                                   ARTICLE VII
                          WITHDRAWALS AND DISTRIBUTIONS

Section 7.1 General Provisions

The Employer  will define in the  Adoption  Agreement  the terms and  conditions
under which withdrawals and distributions  will be permitted under the Plan. All
payments in respect of a Member's  Account  shall be made in cash from the Trust
Fund and in  accordance  with the  provisions of this Article or Article XI. The
amount of payment will be determined  in accordance  with the Unit values on the
Valuation Date coinciding with or next following the date proper notice is filed
with the TPA, unless following such Valuation Date a decrease in the Unit values
of the Member's investment in any of the available Investment Funds occurs prior
to the date such Units of the Member are redeemed in which case that part of the
payment  which must be provided  through the sale of existing  Units shall equal
the value of such Units  determined on the date of  redemption  which date shall
occur as soon as administratively practicable on or following the Valuation Date
such proper  notice is filed with the TPA. The  redemption  date Unit value with
respect to a Member's investment in any of the available  Investment Funds shall
equal the value of a Unit in such  Investment  Fund, as determined in accordance
with the valuation method applicable to Unit investments in such Investment Fund
on the date the Member's investment is redeemed.

Except where otherwise  specified,  payments provided under this Article will be
made in a lump sum as soon as  practicable  after such Valuation Date or date of
redemption,  as may be  applicable,  subject to any  applicable  restriction  on
redemption imposed on amounts invested in any of the available Investment Funds.

Any partial withdrawal shall be deemed to come:

o     First from the Member's  after-tax  contributions made prior to January 1,
      1987.

o     Next from the Member's  after-tax  contributions  made after  December 31,
      1986 plus earnings on all of the Member's after-tax contributions.

o     Next from the Member's rollover contributions plus earnings thereon.

o     Next from the Employer matching contributions plus earnings thereon.

o     Next from the Employer supplemental contributions plus earnings thereon.

o     Next from the Employer basic contributions plus earnings thereon.

                                       32

<PAGE>

o     Next from the Member's 401(k) deferrals plus earnings thereon.

o     Next from the Employer qualified  nonelective  contributions plus earnings
      thereon.

o     Next from the Employer profit sharing contributions plus earnings thereon.

Section 7.2 Withdrawals While Employed

The Employer may, at its option,  permit Members to make withdrawals from one or
more of the  portions  of their  Accounts  while  employed by the  Employer,  as
designated in the Adoption Agreement,  under the terms and provisions  described
herein.

Voluntary  Withdrawals - To the extent permitted by the Employer as specified in
the Adoption  Agreement,  a Member may  voluntarily  withdraw some or all of his
Account  (other than his 401(k)  deferrals  and Employer  qualified  nonelective
contributions treated as 401(k) deferrals except as hereinafter permitted) while
in Employment by filing a notice of withdrawal with the TPA; provided,  however,
that in the event his  Employer  has elected to provide  annuity  options  under
Section 7.3, no withdrawals may be made from a married  Member's Account without
the written  consent of such Member's  Spouse (which consent shall be subject to
the procedures set forth in Section 7.3). Only one in-service  withdrawal may be
made in any Plan Year from each of the rollover  amount of the Member's  Account
and the remainder of the Member's Account.  This restriction shall not, however,
apply  to a  withdrawal  under  this  Section  in  conjunction  with a  hardship
withdrawal.

Notwithstanding the foregoing paragraph, a Member may not withdraw any matching,
basic, supplemental,  profit sharing or qualified nonelective contributions made
by the Employer  under Article III unless (i) the Member has completed 60 months
of  participation  in the Plan;  (ii) the  withdrawal  occurs at least 24 months
after  such  contributions  were  made  by  the  Employer;  (iii)  the  Employer
terminates the Plan without establishing a qualified successor plan; or (iv) the
Member dies, is disabled,  retires, attains age 59 1/2 or terminates Employment.
For purposes of the preceding  requirements,  if the Member's  Account  includes
amounts which have been transferred from a defined contribution plan established
prior to the  adoption  of the Plan by the  Employer,  the period of time during
which   amounts  were  held  on  behalf  of  such  Member  and  the  periods  of
participation of such Member under such defined contribution plan shall be taken
into account.

                                       33

<PAGE>

Hardship  Withdrawals - If designated by the Employer in the Adoption Agreement,
a Member may make a  withdrawal  of his  401(k)  deferrals,  Employer  qualified
nonelective  contributions  which are  treated as  elective  deferrals,  and any
earnings  credited  thereto prior to January 1, 1989,  prior to attaining age 59
1/2, provided that the withdrawal is solely on account of an immediate and heavy
financial need and is necessary to satisfy such financial need. For the purposes
of this Article,  the term "immediate and heavy financial need" shall be limited
to the need of funds for (i) the  payment  of  medical  expenses  (described  in
Section 213(d) of the Code) incurred by the Member,  the Member's Spouse, or any
of the  Member's  dependents  (as defined in Section 152 of the Code),  (ii) the
payment of tuition  and room and board for the next 12 months of  post-secondary
education of the Member, the Member's Spouse,  the Member's children,  or any of
the  Member's  dependents  (as  defined in Section  152 of the Code),  (iii) the
purchase  (excluding mortgage payments) of a principal residence for the Member,
or (iv) the prevention of eviction of the Member from his principal residence or
the  prevention  of  foreclosure  on  the  mortgage  of the  Member's  principal
residence. For purposes of this Article, a distribution generally may be treated
as "necessary to satisfy a financial need" if the Plan Administrator  reasonably
relies upon the Member's written representation that the need cannot be relieved
(i) through  reimbursement  or compensation  by insurance or otherwise,  (ii) by
reasonable  liquidation  of the Member's  available  assets,  to the extent such
liquidation  would not itself cause an immediate and heavy financial need, (iii)
by cessation of Member contributions and/or deferrals pursuant to Article III of
the Plan, to the extent such contributions and/or deferrals are permitted by the
Employer, or (iv) by other distributions or nontaxable (at the time of the loan)
loans from plans  maintained  by the  Employer or by any other  employer,  or by
borrowing from commercial sources on reasonable  commercial terms. The amount of
any withdrawal  pursuant to this Article shall not exceed the amount required to
meet the demonstrated financial hardship, including any amounts necessary to pay
any federal income taxes and penalties reasonably anticipated to result from the
distribution as certified to the Plan Administrator by the Member.

Notwithstanding  the  foregoing,  no  amounts  may be  withdrawn  on  account of
hardship  pursuant to this Article  prior to a Member's  withdrawal of his other
available  Plan  assets  without  regard  to any other  withdrawal  restrictions
adopted by the Employer.

Section 7.3 Distributions Upon Termination of Employment

In accordance with the provisions for  distributions  designated by the Employer
in the Adoption Agreement,  a Member who terminates Employment with the Employer
may  request  a  distribution  of his  Account  at  any  time  thereafter  up to
attainment of age 70 1/2. Except as

                                       34

<PAGE>

otherwise provided,  only one distribution under this Section 7.3 may be made in
any Plan Year and any amounts paid under this Article may not be returned to the
Plan.

Any  distribution  made under  this  Section  7.3  requires  that a Request  for
Distribution  be filed with the TPA.  If a Member  does not file such a Request,
the value of his Account  will be paid to him as soon as  practicable  after his
attainment  of age 70 1/2,  but in no event shall  payment  commence  later than
April 1 of the calendar  year  following  the calendar  year in which the Member
attains age 70 1/2 unless otherwise provided by law.

Lump Sum Payments - A Member may request a distribution  of all or a part of his
Account  no more  frequently  than once per  calendar  year by filing the proper
Request for Distribution  with the TPA. In the event the Employer has elected to
provide an annuity  option under the Plan, no  distributions  may be made from a
married  Member's  Account without the written consent of such married  Member's
spouse (which consent shall be subject to the procedures set forth below).

Installment  Payments - To the extent designated by the Employer in the Adoption
Agreement and in lieu of any lump sum payment of his total Account, a Member who
has terminated his  Employment may elect in his Request for  Distribution  to be
paid in up to 20  annual  installments,  provided  that a  Member  shall  not be
permitted  to elect an  installment  period  in  excess  of his  remaining  life
expectancy and if a Member attempts such an election,  the TPA shall deem him to
have elected the  installment  period with the next lowest  multiple  within the
Member's remaining life expectancy. The amount of each installment will be equal
to the  value  of the  total  Units in the  Member's  Account,  multiplied  by a
fraction,  the  numerator  of which is one and the  denominator  of which is the
number of remaining  annual  installments  including the one then being paid, so
that at the end of the installment period so elected,  the total Account will be
liquidated.  The value of the Units will be determined  in  accordance  with the
Unit values on the Valuation  Date on or next following the TPA's receipt of his
Request  for  Distribution  and  on  each  anniversary   thereafter  subject  to
applicable  Regulations  under Code Section  401(a)(9).  Payment will be made as
soon as  practicable  after  each such  Valuation  Date,  but in no event  shall
payment  commence later than April 1 of the calendar year following the calendar
year in which the Member  attains age 70 1/2 subject to the procedure for making
such distributions  described below. The election of installments  hereunder may
not be  subsequently  changed by the Member,  except that upon written notice to
the TPA,  the Member may  withdraw  the balance of the Units in his Account in a
lump sum at any  time,  notwithstanding  the fact  that  the  Member  previously
received  a  distribution  in the same  calendar  year.

Annuity Payments - The Employer may, at its option,  elect to provide an annuity
option under

                                       35

<PAGE>

the Plan. To the extent so designated by the Employer in the Adoption  Agreement
and in lieu of any lump sum  payment  of his  total  Account,  a Member  who has
terminated his Employment may elect in his Request for  Distribution to have the
value of his total  Account be paid as an annuity  secured for the Member by the
Plan Administrator  through a Group Annuity Contract adopted by the Plan. In the
event  the  Employer  elects  to  provide  the  annuity  option,  the  following
provisions shall apply:

Unmarried  Members - Any unmarried  Member who has terminated his Employment may
elect,  in lieu of any other  available  payment  option,  to  receive a benefit
payable by purchase of a single premium contract providing for (i) a single life
annuity for the life of the Member or (ii) an annuity for the life of the Member
and, if the Member dies leaving a designated Beneficiary, a 50% survivor annuity
for the life of such designated Beneficiary.

Married Members - Except as otherwise provided below, (i) any married Member who
has terminated his Employment  shall receive a benefit  payable by purchase of a
single premium contract providing for a Qualified Joint and Survivor Annuity, as
defined  below,  and (ii) the  Surviving  Spouse of any married  Member who dies
prior to the date  payment  of his  benefit  commences  shall be  entitled  to a
Preretirement Survivor Annuity, as defined below. Notwithstanding the foregoing,
any such married Member may elect to receive his benefit in any other  available
form, and may waive the Preretirement  Survivor Annuity,  in accordance with the
spousal consent requirements described herein.

For  purposes  of this  Section  7.3,  the term  "Qualified  Joint and  Survivor
Annuity" means a benefit providing an annuity for the life of the Member, ending
with the payment due on the last day of the month  coinciding  with or preceding
the date of his death,  and, if the Member dies  leaving a Surviving  Spouse,  a
survivor  annuity for the life of such Surviving Spouse equal to one-half of the
annuity  payable  for the life of the  Member  under  his  Qualified  Joint  and
Survivor Annuity,  commencing on the last day of the month following the date of
the Member's death and ending with the payment due on the first day of the month
coinciding with or preceding the date of such Surviving Spouse's death.

For  purposes of this Section 7.3,  the term  "Preretirement  Survivor  Annuity"
means a benefit  providing for payment of 50% of the Member's Account balance as
of the  Valuation  Date  coinciding  with or  preceding  the date of his  death.
Payment  of a  Preretirement  Survivor  Annuity  shall  commence  in  the  month
following  the  month  in  which  the  Member  dies or as  soon  as  practicable
thereafter;  provided, however, that to the extent required by law, if the value
of the amount used to purchase a Preretirement  Survivor Annuity exceeds $3,500,
then payment of the  Preretirement  Survivor Annuity shall not commence prior to
the date the

                                       36

<PAGE>

Member  reached (or would have  reached,  had he lived)  Normal  Retirement  Age
without the written  consent of the Member's  Surviving  Spouse.  Absence of any
required  consent  will  result in a deferral  of  payment of the  Preretirement
Survivor Annuity to the month following the month in which occurs the earlier of
(i) the date the  required  consent is  received by the TPA or (ii) the date the
Member would have reached Normal Retirement Age had he lived.

The TPA shall furnish or cause to be furnished,  to each married  Member with an
Account  subject to this Section 7.3,  explanations  of the Qualified  Joint and
Survivor  Annuity and  Preretirement  Survivor  Annuity.  A Member may, with the
written consent of his Spouse (unless the TPA makes a written  determination  in
accordance with the Code and the Regulations  that no such consent is required),
elect in writing (i) to receive his benefit in a single lump sum payment  within
the 90-day period ending on the date payment of his benefit commences;  and (ii)
to waive the  Preretirement  Survivor Annuity within the period beginning on the
first day of the Plan Year in which the Member  attains age 35 and ending on the
date of his death.  Any  election  made  pursuant  to this  Subparagraph  may be
revoked by a Member,  without  spousal  consent,  at any time within  which such
election  could have been made.  Such an election or revocation  must be made in
accordance with procedures developed by the TPA and shall be notarized.

Notwithstanding  the  preceding  provisions  of this Section 7.3, any benefit of
$3,500,  subject to the limits of Article X, or less, shall be paid in cash in a
lump sum in full settlement of the Plan's liability therefor; provided, however,
that in the case of a married  Member,  no such lump sum  payment  shall be made
after benefits have  commenced  without the consent of the Member and his Spouse
or, if the Member has died, the Member's Surviving Spouse.  Furthermore,  if the
value of the benefit payable to a Member or his Surviving Spouse is greater than
$3,500 and the Member has or had not reached his Normal  Retirement Age, then to
the extent required by law, unless the Member (and, if the Member is married and
his  benefit is to be paid in a form other than a Qualified  Joint and  Survivor
Annuity,  his  Spouse,  or, if the Member was  married,  his  Surviving  Spouse)
consents in writing to an immediate  distribution  of such benefit,  his benefit
shall continue to be held in the Trust until a date following the earlier of (i)
the date of the TPA's  receipt  of all  required  consents  or (ii) the date the
Member reaches his earliest  possible  Normal  Retirement Age under the Plan (or
would have  reached  such date had he lived),  and  thereafter  shall be paid in
accordance with this Section 7.3.

                                       37

<PAGE>

Solely  to the  extent  required  under  applicable  law  and  regulations,  and
notwithstanding  any provisions of the Plan to the contrary that would otherwise
limit a Distributee's election under this Subparagraph, a Distributee may elect,
at the time and in the manner  prescribed  by the TPA, to have any portion of an
Eligible  Rollover  Distribution  paid directly to an Eligible  Retirement  Plan
specified  by the  Distributee  in a  Direct  Rollover.  For  purposes  of  this
Subparagraph, the following terms shall have the following meanings:

    Eligible  Rollover  Distribution - 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 includable in gross income  (determined  without regard to the exclusion
    for net unrealized appreciation with respect to employer securities).

    Eligible  Retirement Plan - 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 a Surviving Spouse, an Eligible
    Retirement  Plan  is an  individual  retirement  account  or  an  individual
    retirement annuity.

    Distributee - A Distributee may be (i) an Employee,  (ii) a former Employee,
    (iii) an Employee's  Surviving Spouse,  (iv) a former  Employee's  Surviving
    Spouse,  (v) an Employee's Spouse or former Spouse who is an alternate payee
    under a qualified  domestic relations order, as defined in Section 414(p) of
    the Code,  or (vi) a former  Employee's  Spouse or former  Spouse  who is an
    alternate payee under a qualified  domestic  relations  order, as defined in
    Section  414(p) of the Code,  with  respect to the interest of the Spouse or
    former Spouse.

    Direct  Rollover - A payment  by the Plan to the  Eligible  Retirement  Plan
    specified by the Distributee.

Section 7.4 Distributions Due to Disability

A Member who is separated  from  Employment  by reason of a disability  which is
expected  to last in  excess of 12  consecutive  months  and who is  either  (i)
eligible for, or is receiving,

                                       38

<PAGE>

disability  insurance  benefits  under the Federal  Social  Security Act or (ii)
approved for  disability  under the  provisions of any other benefit  program or
policy  maintained  by the  Employer,  which  policy or  program is applied on a
uniform and nondiscriminatory  basis to all Employees of the Employer,  shall be
deemed to be disabled for all purposes under the Plan.

The  Plan  Administrator  shall  determine  whether  a  Member  is  disabled  in
accordance  with the terms of the  immediately  preceding  paragraph;  provided,
however,  approval  of  Disability  is  conditioned  upon  notice  to  the  Plan
Administrator  of such  Member's  Disability  within 13  months of the  Member's
separation  from   Employment.   The  notice  of  Disability   shall  include  a
certification that the Member meets one or more of the criteria listed above.

Upon  determination  of  Disability,  a Member may  withdraw  his total  Account
balance under the Plan and have such amounts paid to him in accordance  with the
applicable  provisions of this Article VII, as designated by the Employer.  If a
disabled  Member becomes  reemployed  subsequent to withdrawal of some or all of
his Account  balance,  such Member may not repay to the Plan any such  withdrawn
amounts.

Section 7.5 Distributions Due to Death

Subject to the  provisions of Section 7.3 above,  if a married  Member dies, his
Spouse,  as Beneficiary,  will receive a death benefit equal to the value of the
Member's Account determined on the Valuation Date on or next following the TPA's
receipt  of notice  that  such  Member  died;  provided,  however,  that if such
Member's  Spouse had  consented  in writing to the  designation  of a  different
Beneficiary,  the Member's Account will be paid to such designated  Beneficiary.
Such nonspousal designation may be revoked by the Member without spousal consent
at any time prior to the Member's  death. If a Member is not married at the time
of his death, his Account will be paid to his designated Beneficiary.

A Member  may elect  that upon his  death,  his  Beneficiary,  pursuant  to this
Section 7.5, may receive,  in lieu of any lump sum payment,  payment in 5 annual
installments  (10 if the Spouse is the  Beneficiary,  provided that the Spouse's
remaining  life  expectancy is at least 10 years)  whereby the value of 1/5th of
such Member's  Units (or 1/10th in the case of a spousal  Beneficiary,  provided
that the  Spouse's  remaining  life  expectancy  is at least 10  years)  in each
available  Investment Fund will be determined in accordance with the Unit values
on the  Valuation  Date on or next  following the TPA's receipt of notice of the
Member's death and on each  anniversary of such Valuation Date.  Payment will be
made as soon as practicable after each Valuation Date until the Member's Account
is exhausted. Such election may be filed at any time with the Plan Administrator
prior to the Member's death and may not be changed or

                                       39

<PAGE>

revoked after such Member's  death.  If such an election is not in effect at the
time of the Member's death, his Beneficiary  (including any spousal Beneficiary)
may elect to receive distributions in accordance with this Article,  except that
any balance remaining in the deceased Member's Account must be distributed on or
before the December 31 of the calendar year which  contains the 5th  anniversary
(the 10th  anniversary in the case of a spousal  Beneficiary,  provided that the
Spouse's  remaining life expectancy is at least 10 years) of the Member's death.
Notwithstanding the foregoing,  payment of a Member's Account shall commence not
later than the  December  31 of the  calendar  year  immediately  following  the
calendar year in which the Member died or, in the event such  Beneficiary is the
Member's  Surviving Spouse, on or before the December 31 of the calendar year in
which such Member would have  attained age 70 1/2, if later (or, in either case,
on any later date prescribed by the IRS  Regulations).  If, upon the Spouse's or
Beneficiary's  death, there is still a balance in the Account,  the value of the
remaining  Units will be paid in a lump sum to such  Spouse's  or  Beneficiary's
estate.

Section 7.6 Minimum Required Distributions

In no event may  payment of a Member's  Account  begin later than April 1 of the
year following the calendar year in which a Member attains age 70 1/2; provided,
however,  if a Member  attained  age 70 1/2 prior to January 1, 1988,  except as
otherwise  provided below,  any benefit payable to such Member shall commence no
later  than the  April 1 of the  calendar  year  following  the later of (i) the
calendar  year in which the Member  attains age 70 1/2 or (ii) the calendar year
in which the Member retires.  Such benefit shall be paid, in accordance with the
Regulations,  over a period not  extending  beyond the life  expectancy  of such
Member.  Life  expectancy for purposes of this Section shall not be recalculated
annualy in accordance with the Regulations.

If a Member who is a 5% owner  attained age 70 1/2 before  January 1, 1988,  any
benefit  payable to such Member shall  commence no later than the April 1 of the
calendar  year  following the later of (i) the calendar year in which the Member
attains age 70 1/2 or (ii) the earlier of (a) the calendar year within which the
Member becomes a 5% owner or (b) the calendar year in which the Member  retires.
For purposes of the preceding  sentence,  5% owner shall mean a 5% owner of such
Member's  Employer  as defined in Section  416(i) of the Code at any time during
the Plan Year in which  such owner  attains  age 66 1/2 or any  subsequent  Plan
Year.  Distributions  must continue to such Member even if such Member ceases to
own more than 5% of the Employer in a subsequent year.

                                       40

<PAGE>

                                  ARTICLE VIII
                                  LOAN PROGRAM

Section 8.1  General Provisions

An Employer may, at its option, make available the loan program described herein
for any Member  (and,  if  applicable  under  Section 8.8 of this  Article,  any
Beneficiary),  subject to  applicable  law. The Employer  shall so designate its
adoption of the loan program and the terms and  provisions  of its  operation in
the Adoption Agreement. In the event that the Employer has elected to provide an
annuity  option under Article VII or amounts are  transferred to the Plan from a
retirement plan subject to Section  401(a)(11) of the Code, no loans may be made
from a married  Member's  Account  without the written  consent of such Member's
Spouse (in  accordance  with the spousal  consent  rules set forth under Section
7.3). In the event the Employer  elects to permit loans to be made from rollover
contributions  and earnings  thereon,  as designated in the Adoption  Agreement,
loans shall be available  from the Accounts of any Employees of the Employer who
have not yet become  Members.  Only one loan may be made to a Member in the Plan
Year.

Section 8.2 Loan Application

Subject to the restrictions  described in the paragraph immediately following, a
Member in  Employment  may  borrow  from his  Account  in each of the  available
Investment  Funds by filing a loan  application  with the TPA. Such  application
(hereinafter  referred to as a  "completed  application")  shall (i) specify the
terms  pursuant to which the loan is  requested to be made and (ii) provide such
information and  documentation as the TPA shall require,  including a note, duly
executed  by the Member,  granting a security  interest of an amount not greater
than 50% of his vested Account, to secure the loan. With respect to such Member,
the  completed  applica tion shall  authorize  the repayment of the loan through
payroll  deductions.  Such loan will become  effective  upon the Valuation  Date
coinciding  with or next  following the date on which his completed  application
and other required documents were submitted, subject to the same conditions with
respect to the amount to be  transferred  under this Section which are specified
in the Plan procedures for determining the amount of payments made under Article
VII of the Plan.

The Employer  shall  establish  standards in accordance  with the Code and ERISA
which shall be uniformly applicable to all Members eligible to borrow from their
interests  in the Trust  Fund  similarly  situated  and shall  govern  the TPA's
approval or disapproval of completed applications. The terms for each loan shall
be set solely in accordance with such standards.

The TPA shall, in accordance with the established standards,  review and approve
or disapprove

                                       41

<PAGE>

a completed  application as soon as practicable  after its receipt thereof,  and
shall  promptly  notify the  applying  Member of such  approval or  disapproval.
Notwithstanding  the  foregoing,  the TPA may  defer its  review of a  completed
application,  or defer  payment of the  proceeds  of an  approved  loan,  if the
proceeds of the loan would  otherwise  be paid during the period  commencing  on
December 1 and ending on the following January 31.

Subject to the preceding paragraph and Section 8.6, upon approval of a completed
application,  the TPA  shall  cause  payment  of the  loan to be made  from  the
available  Investment Fund(s) in the same proportion that the designated portion
of the  Member's  Account is invested at the time of the loan,  and the relevant
portion of the Member's  interest in such Investment  Fund(s) shall be cancelled
and shall be  transferred  in cash to the  Member.  The TPA shall  maintain  suf
ficient  records  regarding  such  amounts to permit an  accurate  crediting  of
repayments of the loan.

Section 8.3 Permitted Loan Amount

The amount of each loan may not be less than  $1,000  nor more than the  maximum
amount as described  below. The maximum amount available for loan under the Plan
(when added to the  outstanding  balance of all other loans from the Plan to the
borrowing  Member)  shall not exceed the lesser of: (a)  $50,000  reduced by the
excess (if any) of (i) the highest outstanding loan balance  attributable to the
Account  of the Member  requesting  the loan from the Plan  during the  one-year
period  ending  on the  day  preceding  the  date of the  loan,  over  (ii)  the
outstanding  balance of all other  loans from the Plan to the Member on the date
of the  loan,  or (b) 50% of the value of the  Member's  vested  portion  of his
Account  available for borrowing as of the Valuation  Date on or next  following
the date on which the TPA receives the  completed  application  for the loan and
all other  required  documents.  The  maximum  amount  available  for a loan for
purposes of item (b) of the  preceding  sentence  shall be determined by valuing
the Member's interest in that portion of his Account from which the loan will be
deducted as of the applicable  Valuation Date. In determining the maximum amount
that a Member  may  borrow,  all vested  assets of his  Account,  regardless  of
whether any  particular  portion of his Account is  actually  available  for the
loan, will be taken into  consideration,  provided that,  where the Employer has
not elected to make a Member's  entire Account  available for loans, in no event
shall the amount of the loan  exceed the value of such  portion of the  Member's
Account from which loans are permissible.

Section 8.4 Source of Funds for Loan

The  amount  of the loan  will be  deducted  from the  Member's  Account  in the
available  Investment  Funds in accordance  with Section 8.2 of this Article and
the Plan  procedures for  determining  the amount of payments made under Article
VII. Loans shall be deemed to come (to the extent the Employer  permits  Members
to take loans from one or more of the portions of their Accounts,  as designated
in the Adoption Agreement):

                                       42

<PAGE>

o     First  from  the  Employer  profit  sharing  contributions  plus  earnings
      thereon.

o     Next from the Employer qualified  nonelective  contributions plus earnings
      thereon.

o     Next from the Member's 401(k) deferrals plus earnings thereon.

o     Next from the Employer basic contributions plus earnings thereon.

o     Next from the Employer supplemental contributions plus earnings thereon.

o     Next from the Employer matching contributions plus earnings thereon.

o     Next from the Member's rollover contributions plus earnings thereon.

o     Next from the Member's after-tax contributions made after December 31,1986
      plus earnings on all of the Member's after-tax contributions.

o     Next from the  Member's  after-tax  contributions  made  prior to  January
      1,1987.

Section 8.5 Conditions of Loan

Each loan to a Member  under the Plan shall be repaid in level  monthly  amounts
through  regular  payroll  deductions  after the effective date of the loan, and
continuing  thereafter  with each payroll.  Except as otherwise  required by the
Code and the IRS  Regulations,  each loan shall have a  repayment  period of not
less than 12 months  and not in excess of 60 months,  unless the  purpose of the
loan is for the purchase of a primary  residence,  in which case the loan may be
for not more than 180 months.

The rate of interest for the term of the loan will be established as of the loan
date,  and will be the  Barron's  Prime Rate (base rate) plus 1% as published on
the last Saturday of the preceding  month, or such other rate as may be required
by applicable law and  determined by reference to the  prevailing  interest rate
charged by commercial lenders under similar  circumstances.  The applicable rate
would then be in effect through the last business day of the month.

Repayment  of all loans  under the Plan shall be secured by 50% of the  Member's
vested interest in his Account, determined as of the origination of such loan.

Section 8.6 Crediting of Repayment

Upon lending any amount to a Member, the TPA shall establish and maintain a loan
receivable  account  with  respect  to,  and for the  term  of,  the  loan.  The

                                       43

<PAGE>

allocations  described  in this Section  shall be made from the loan  receivable
account.  Upon receipt of each  monthly  installment  payment and the  crediting
thereof to the Member's loan receivable account, there shall be allocated to the
Member's Account in the available  Investment Funds, in accordance with his most
recent investment instructions, the principal portion of the installment payment
plus that portion of the interest equal to the rate determined in Section 8.5 of
this Article,  less 2%. The unpaid  balance owed by a Member on a loan under the
Plan shall not reduce the amount credited to his Account. However, from the time
of payment of the  proceeds of the loan to the  Member,  such  Account  shall be
deemed  invested,  to the extent of such unpaid balance,  in such loan until the
complete repayment thereof or distribution from such Account. Any loan repayment
shall first be deemed  allocable to the portions of the Member's  Account on the
basis of a reverse  ordering  of the  manner  in which  the loan was  originally
distributed to the Member.

Section 8.7 Cessation of Payments on Loan

If a Member,  while employed,  fails to make a monthly  installment payment when
due, as specified in the completed  application,  subject to applicable  law, he
will be deemed to have received a distribution of the outstanding balance of the
loan.  If such default  occurs  after the first 12 monthly  payments of the loan
have been  satisfied,  the Member  may pay the  outstanding  balance,  including
accrued  interest  from the due date,  by the last day of the  calendar  quarter
following the calendar  quarter which  contains the due date of the last monthly
installment  payment,  in which case no such distribution will be deemed to have
occurred.  Subject to applicable law,  notwithstanding  the foregoing,  a Member
that borrows any of his 401(k)  deferrals  and any of the earnings  attributable
thereto may not cease to make monthly  installment  payments  while employed and
receiving a Salary from the Employer.

Except as provided below,  upon a Member's  termination of Employment,  death or
Disability,  or the  Employer's  termination  of the Plan,  no  further  monthly
installment  payments may be made.  Unless the  outstanding  balance,  including
accrued  interest  from the due  date,  is paid by the last day of the  calendar
quarter  following  the  calendar  quarter  which  contains  the  date  of  such
occurrence,  the Member will be deemed to have  received a  distribution  of the
outstanding balance of the loan including accrued interest from the due date.

Section 8.8 Loans to Former Members

Notwithstanding  any  other  provisions  of this  Article  VIII,  a  member  who
terminates  Employment  for any reason  shall be  permitted  to continue  making
scheduled repayments with respect to any loan balance outstanding at the time he
becomes a  terminated  Member.  In addition,  a  terminated  Member may elect to

                                       44

<PAGE>

initiate  a new loan  from his  Account,  subject  to the  conditions  otherwise
described in this Article VIII. If any  terminated  Member who continues to make
repayments or who borrows from his Account pursuant to this Section 8.8 fails to
make a scheduled  monthly  installment  payment by the last day of the  calendar
quarter  following  the calendar  quarter which  contains the scheduled  payment
date,  he will be deemed to have  received  a  distribution  of the  outstanding
balance of the loan.

                                       45

<PAGE>

                                   ARTICLE IX
            ADMINISTRATION OF PLAN AND ALLOCATION OF RESPONSIBILITIES

Section 9.1 Fiduciaries

The following persons are Fiduciaries under the Plan.

a)    The Trustee,

b)    The Employer,

c)    The Plan Administrator or committee, appointed by the Employer pursuant to
      this Article IX of the Plan and designated as the "Named Fiduciary" of the
      Plan and the Plan Administrator, and

d)    Any  Investment  Manager  appointed by the Employer as provided in Section
      9.4.

Each of said Fiduciaries shall be bonded to the extent required by ERISA.

The TPA is not intended to have the  authority or  responsibilities  which would
cause it to be  considered  a Fiduciary  with respect to the Plan unless the TPA
otherwise  agrees to accept  such  authority  or  responsibilities  in a service
agreement or otherwise in writing.

Section 9.2 Allocation of Responsibilities Among the Fiduciaries

a)   The Trustee

     The Employer shall enter into one or more Trust  Agreements  with a Trustee
     or Trustees selected by the Employer.  The Trust established under any such
     agreement  shall be a part of the Plan and  shall  provide  that all  funds
     received  by the  Trustee  as  contributions  under the Plan and the income
     therefrom  (other than such part as is  necessary  to pay the  expenses and
     charges  referred to in Paragraph (b) of this Section) shall be held in the
     Trust Fund for the exclusive benefit of the Members or their Beneficiaries,
     and managed,  invested and  reinvested  and  distributed  by the Trustee in
     accordance  with the Plan. Sums received for investment may be invested (i)
     wholly or partly through the medium of any common, collective or commingled
     trust fund maintained by a bank or other financial institution and which is
     qualified  under Sections  401(a) and 501(a) of the Code and  constitutes a
     part of the  Plan;  (ii)  wholly or partly  through  the  medium of a group
     annuity  or other  type of  contract  issued by an  insurance  company  and
     constituting a part of the Plan, and utilizing,

                                       46

<PAGE>

     under any such  contract,  general,  commingled  or  individual  investment
     accounts;  or (iii) wholly or partly in securities  issued by an investment
     company registered under the Investment Company Act of 1940. Subject to the
     provisions  of Article XI, the  Employer  may from time to time and without
     the consent of any Member or Beneficiary  (a) amend the Trust  Agreement or
     any  such  insurance  contract  in such  manner  as the  Employer  may deem
     necessary or  desirable  to carry out the Plan,  (b) remove the Trustee and
     designate a successor  Trustee upon such removal or upon the resignation of
     the  Trustee,  and (c) provide for an  alternate  funding  agency under the
     Plan. The Trustee shall make payments under the Plan only to the extent, in
     the amounts,  in the manner,  at the time, and to the persons as shall from
     time to time be set forth and designated in written authorizations from the
     Plan Administrator or TPA.

     The Trustee shall from time to time charge against and pay out of the Trust
     Fund taxes of any and all kinds  whatsoever  which are  levied or  assessed
     upon or become  payable in respect of such Fund, the income or any property
     forming a part thereof, or any security transaction  pertaining thereto. To
     the extent not paid by the Employer,  the Trustee shall also charge against
     and pay out of the Trust Fund other expenses incurred by the Trustee in the
     performance of its duties under the Trust, the expenses incurred by the TPA
     in the  performance  of its  duties  under the Plan  (including  reasonable
     compensation  for agents and cost of  services  rendered  in respect of the
     Plan),  such compensation of the Trustee as may be agreed upon from time to
     time between the Employer and the Trustee, and all other proper charges and
     disbursements of the Trustee or the Employer.

b)   The Employer

     The Employer shall be responsible for all functions assigned or reserved to
     it  under  the Plan and any  related  Trust  Agreement.  Any  authority  so
     assigned or reserved to the Employer, other than responsibilities  assigned
     to  the  Plan  Administrator,  shall  be  exercised  by  resolution  of the
     Employer's  Board of Directors and shall become  effective  with respect to
     the  Trustee  upon  written  notice  to the  Trustee  signed  by  the  duly
     authorized  officer of the Board advising the Trustee of such exercise.  By
     way of  illustration  and  not  by  limitation,  the  Employer  shall  have
     authority and responsibility:

     (1)    to amend the Plan;

     (2)    to merge and  consolidate the Plan with all or part of the assets or
            liabilities of any other plan;

                                       47

<PAGE>

     (3)    to   appoint,   remove  and   replace   the  Trustee  and  the  Plan
            Administrator and to monitor their performances;

     (4)    to appoint,  remove and replace one or more Investment Managers,  or
            to  refrain   from  such   appointments,   and  to   monitor   their
            performances;

     (5)    to  communicate  such  information to the Plan  Administrator,  TPA,
            Trustee  and  Investment  Managers  as they may need for the  proper
            performance of their duties; and

     (6)    to perform such additional duties as are imposed by law.

     Whenever,  under the terms of this  Plan,  the  Employer  is  permitted  or
     required  to do or perform any act,  it shall be done and  performed  by an
     officer thereunto duly authorized by its Board of Directors.

c)   The Plan Administrator

     The  Plan  Administrator   shall  have   responsibility  and  discretionary
     authority  to  control  the  operation  and  administration  of the Plan in
     accordance  with the  provisions  of  Article  IX of the  Plan,  including,
     without limiting, the generality of the foregoing:

     (1)    the  determination  of  eligibility  for benefits and the amount and
            certification thereof to the Trustee;

     (2)    the hiring of persons to provide necessary services to the Plan;

     (3)    the issuance of  directions  to the Trustee to pay any fees,  taxes,
            charges or other costs incidental to the operation and management of
            the Plan;

     (4)    the preparation and filing of all reports  required to be filed with
            respect to the Plan with any governmental agency; and

     (5)    the compliance with all disclosure  requirements imposed by state or
            federal law.

d)   The Investment Manager

     Any Investment  Manager  appointed  pursuant to Section 9.4 shall have sole
     responsibility for the investment of the portion of the assets of the Trust
     Fund to be managed and controlled by such Investment Manager. An Investment
     Manager may place orders for the purchase and sale of  securities  directly
     with brokers and dealers.

                                       48

<PAGE>

Section 9.3 No Joint Fiduciary Responsibilities

This  Article IX is  intended  to  allocate  to each  Fiduciary  the  individual
responsibility  for the prudent execution of the functions  assigned to him, and
none of such responsibilities or any other  responsibilities  shall be shared by
two or more of such  Fiduciaries  unless such  sharing is provided by a specific
provision of the Plan or any related Trust Agreement.  Whenever one Fiduciary is
required to follow the  directions  of another  Fiduciary,  the two  Fiduciaries
shall  not be  deemed to have been  assigned  a shared  responsibility,  but the
responsibility  of the Fiduciary  giving the directions shall be deemed his sole
responsibility,   and  the  responsibility  of  the  Fiduciary  receiving  those
directions  shall be to follow them  insofar as such  instructions  are on their
face proper under applicable law. To the extent that fiduciary  responsibilities
are allocated to an Investment Manager,  such  responsibilities are so allocated
solely to such  Investment  Manager  alone,  to be exercised by such  Investment
Manager alone and not in conjunction with any other  Fiduciary,  and the Trustee
shall be under no  obligation  to manage  any asset of the Trust  Fund  which is
subject to the management of such Investment Manager.

Section 9.4 Investment Manager

The  Employer may appoint a qualified  Investment  Manager or Managers to manage
any portion or all of the assets of the Trust Fund. For the purpose of this Plan
and the related  Trust,  a "qualified  Investment  Manager" means an individual,
firm or  corporation  who has  been so  appointed  by the  Employer  to serve as
Investment Manager hereunder, and who is and has acknowledged in writing that he
is (a) a Fiduciary  with  respect to the Plan,  (b) bonded as required by ERISA,
and (c) either (i)  registered  as an investment  advisor  under the  Investment
Advisors Act of 1940,  (ii) a bank as defined in said Act, or (iii) an insurance
company qualified to perform  investment  management  services under the laws of
more than one state of the United States.

Any  such  appointment  shall  be by a vote of the  Board  of  Directors  of the
Employer naming the Investment  Manager so appointed and designating the portion
of the assets of the Trust Fund to be managed and controlled by such  Investment
Manager.  Said vote shall be evidenced by a certificate in writing signed by the
duly  authorized  officer of the Board and shall  become  effective  on the date
specified in such  certificate  but not before delivery to the Trustee of a copy
of such certificate,  together with a written  acknowledgment by such Investment
Manager of the facts specified in the second sentence of this Section.

                                       49

<PAGE>

Section 9.5 Advisor to Fiduciary

A  Fiduciary  may employ one or more  persons to render  advice  concerning  any
responsibility such Fiduciary has under the Plan and related Trust Agreement.

Section 9.6 Service in Multiple Capacities

Any person or group of  persons  may serve in more than one  fiduciary  capacity
with  respect  to  the  Plan,   specifically  including  service  both  as  Plan
Administrator and as a Trustee of the Trust;  provided,  however, that no person
may serve in a fiduciary  capacity who is precluded from so serving  pursuant to
Section 411 of ERISA.

Section 9.7 Appointment of Plan Administrator

The Employer shall designate the Plan  Administrator in the Adoption  Agreement.
The  Plan  Administrator  may be an  individual,  a  committee  of  two or  more
individuals,  whether or not, in either such case, the individual or any of such
individuals  are  Employees  of  the  Employer,   a  consulting  firm  or  other
independent agent, the Trustee (with its consent), the Board of the Employer, or
the Employer itself. Except as the Employer shall otherwise expressly determine,
the Plan  Administrator  shall be charged with the full power and responsibility
for administering the Plan in all its details. If no Plan Administrator has been
appointed by the Employer,  or if the person designated as Plan Administrator is
not serving as such for any reason,  the Employer shall be deemed to be the Plan
Administrator.  The Plan  Administrator  may be removed by the  Employer  or may
resign  by  giving  written  notice to the  Employer,  and,  in the event of the
removal,  resignation,  death  or  other  termination  of  service  of the  Plan
Administrator,  the  Employer  shall,  as  soon  as is  practicable,  appoint  a
successor  Plan  Administrator,  such  successor  thereafter  to have all of the
rights,   privileges,   duties  and   obligations   of  the   predecessor   Plan
Administrator.

Section 9.8 Powers of the Plan Administrator

The Plan Administrator is hereby vested with all powers and authority  necessary
in order to carry out its duties and  responsibilities  in  connection  with the
administration  of the Plan as herein  provided,  and is authorized to make such
rules and  regulations  as it may deem  necessary to carry out the provisions of
the Plan and the Trust Agreement.  The Plan  Administrator may from time to time
appoint agents to perform such functions  involved in the  administration of the
Plan  as  it  may  deem  advisable.   The  Plan  Administrator  shall  have  the
discretionary   authority   to   determine   any   questions   arising   in  the
administration, interpretation

                                       50

<PAGE>

and application of the Plan, including any questions submitted by the Trustee on
a matter necessary for it to properly  discharge its duties; and the decision of
the Plan Administrator shall be conclusive and binding on all persons.

Section 9.9 Duties of the Plan Administrator

The Plan  Administrator  shall  keep on file a copy of the  Plan  and the  Trust
Agreement(s), including any subsequent amendments, and all annual reports of the
Trustee(s),  and  such  annual  reports  or  registration  statements  as may be
required  by  the  laws  of  the  United  States,  or  other  jurisdiction,  for
examination  by Members  in the Plan  during  reasonable  business  hours.  Upon
request by any Member, the Plan Administrator shall furnish him with a statement
of his interest in the Plan as  determined by the Plan  Administrator  as of the
close of the preceding Plan Year.

Section 9.10 Action by the Plan Administrator

In the event that there shall at any time be two or more persons who  constitute
the Plan  Administrator,  such persons  shall act by  concurrence  of a majority
thereof.

Section 9.11 Discretionary Action

Wherever, under the provisions of this Plan, the Plan Administrator is given any
discretionary  power or powers,  such power or powers  shall not be exercised in
such manner as to cause any discrimination prohibited by the Code in favor of or
against any Member,  Employee or class of Employees.  Any  discretionary  action
taken by the Plan  Administrator  hereunder  shall be consistent  with any prior
discretionary action taken by it under similar circumstances and to this end the
Plan Administrator  shall keep a record of all discretionary  action taken by it
under any provision hereof.

Section 9.12 Compensation and Expenses of Plan Administrator

Employees of the Employer shall serve without  compensation for services as Plan
Administrator,  but all expenses of the Plan Administrator  shall be paid by the
Employer. Such expenses shall include any expenses incidental to the functioning
of the Plan,  including,  but not limited to,  attorney's  fees,  accounting and
clerical charges,  and other costs of administering the Plan.  Non-Employee Plan
Administrators shall receive such compensation as the Employer shall determine.

                                       51

<PAGE>

Section 9.13 Reliance on Others

The Plan  Administrator  and the  Employer  shall be  entitled  to rely upon all
valuations,  certificates  and reports  furnished  by the  Trustee(s),  upon all
certificates  and reports made by an accountant or actuary  selected by the Plan
Administrator  and approved by the  Employer and upon all opinions  given by any
legal counsel selected by the Plan  Administrator  and approved by the Employer,
and the Plan  Administrator and the Employer shall be fully protected in respect
of any action  taken or  suffered  by them in good faith in  reliance  upon such
Trustee(s),  accountant,  actuary or counsel and all action so taken or suffered
shall be conclusive upon each of them and upon all Members, retired Members, and
Former Members and their Beneficiaries, and all other persons.

Section 9.14 Self Interest

No person who is the Plan Administrator  shall have any right to decide upon any
matter  relating solely to himself or to any of his rights or benefits under the
Plan.  Any such  decision  shall be made by another  Plan  Administrator  or the
Employer.

Section 9.15 Personal Liability - Indemnification

The  Plan  Administrator  shall  not  be  personally  liable  by  virtue  of any
instrument executed by him or on his behalf. Neither the Plan Administrator, the
Employer,  nor any of its officers or directors  shall be personally  liable for
any action or inaction with respect to any duty or  responsibility  imposed upon
such  person  by the  terms  of the Plan  unless  such  action  or  inaction  is
judicially  determined to be a breach of that person's fiduciary  responsibility
with respect to the Plan under any applicable  law. The limitation  contained in
the  preceding  sentence  shall not,  however,  prevent or preclude a compromise
settlement of any controversy  involving the Plan, the Plan  Administrator,  the
Employer,  or any of its officers and directors.  The Employer may advance money
in connection with questions of liability prior to any final  determination of a
question of liability.  Any  settlement  made under this Article IX shall not be
determinative of any breach of fiduciary duty hereunder.

The Employer  will  indemnify  every person who is or was a Plan  Administrator,
officer  or  member  of the  Board or a person  who  provides  services  without
compensation  to the  Plan  for any  liability  (including  reasonable  costs of
defense and settlement)  arising by reason of any act or omission  affecting the
Plan or  affecting  the  Member or  Beneficiaries  thereof,  including,  without
limitation,  any damages, civil penalty or excise tax imposed pursuant to ERISA;
provided (1) that the act or omission  shall have  occurred in the course of the
person's service

                                       52

<PAGE>

as Plan  Administrator,  officer of the  Employer  or member of the Board or was
within  the  scope of the  Employment  of any  Employee  of the  Employer  or in
connection with a service  provided  without  compensation to the Plan, (2) that
the act or  omission  be in good  faith as  determined  by the  Employer,  whose
determination,  made in good faith and not arbitrarily or capriciously, shall be
conclusive,  and (3) that the Employer's obligation hereunder shall be offset to
the  extent  of any  otherwise  applicable  insurance  coverage,  under a policy
maintained  by  the  Employer,   or  any  other  person,   or  other  source  of
indemnification.

Section 9.16 Insurance

The Plan  Administrator  shall have the right to purchase  such  insurance as it
deems  necessary to protect the Plan and the Trustee from loss due to any breach
of fiduciary  responsibility  by any person.  Any premiums due on such insurance
may be paid from Plan assets  provided that, if such premiums are so paid,  such
policy of insurance must permit  recourse by the insurer  against the person who
breaches his fiduciary responsibility.  Nothing in this Article IX shall prevent
the Plan  Administrator  or the  Employer,  at its, or his,  own  expense,  from
providing insurance to any person to cover potential liability of that person as
a result of a breach of fiduciary  responsibility,  nor shall any  provisions of
the Plan preclude the Employer from  purchasing  from any insurance  company the
right of recourse under any policy by such insurance company.

Section 9.17 Claims Procedures

Claims for benefits under the Plan shall be filed with the Plan Administrator on
forms  supplied by the Employer.  Written  notice of the  disposition of a claim
shall be furnished to the claimant within 90 days after the application  thereof
is  filed  unless  special  circumstances  require  an  extension  of  time  for
processing the claim.  If such an extension of time is required,  written notice
of the extension  shall be furnished to the claimant prior to the termination of
said 90-day  period,  and such notice shall  indicate the special  circumstances
which make the postponement appropriate.

Section 9.18 Claims Review Procedures

In the event a claim is denied, the reasons for the denial shall be specifically
set forth in the notice described in this Section 9.18 in language calculated to
be understood by the claimant.  Pertinent provisions of the Plan shall be cited,
and,  where  appropriate,  an  explanation  as to how the  claimant  can request
further consideration and review of the claim will be provided. In addition, the
claimant shall be furnished with an explanation of the Plan's claims review

                                       53

<PAGE>

procedures.  Any Employee,  former Employee,  or Beneficiary of either,  who has
been  denied a benefit  by a  decision  of the Plan  Administrator  pursuant  to
Section 9.17 shall be entitled to request the Plan Administrator to give further
consideration  to his claim by  filing  with the Plan  Administrator  (on a form
which may be obtained from the Plan Administrator) a request for a hearing. Such
request,  together  with a written  statement  of the reasons  why the  claimant
believes his claim should be allowed, shall be filed with the Plan Administrator
no later than 60 days after receipt of the written notification  provided for in
Section 9.17.  The Plan  Administrator  shall then conduct a hearing  within the
next 60 days,  at which the  claimant may be  represented  by an attorney or any
other  representative  of his choosing  and at which the claimant  shall have an
opportunity  to submit written and oral evidence and arguments in support of his
claim.  At the hearing (or prior thereto upon 5 business days' written notice to
the Plan  Administrator),  the  claimant  or his  representative  shall  have an
opportunity to review all documents in the possession of the Plan  Administrator
which  are  pertinent  to the  claim  at  issue  and its  disallowance.  A final
disposition of the claim shall be made by the Plan Administrator  within 60 days
of receipt of the appeal unless there has been an extension of 60 days and shall
be communicated in writing to the claimant.  Such communication shall be written
in a manner  calculated  to be  understood  by the  claimant  and shall  include
specific  reasons for the disposition  and specific  references to the pertinent
Plan  provisions on which the  disposition is based.  For all purposes under the
Plan,  such decision on claims  (where no review is  requested)  and decision on
review (where review is requested) shall be final, binding and conclusive on all
interested persons as to participation and benefits  eligibility,  the amount of
benefits  and as to any other matter of fact or  interpretation  relating to the
Plan.

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<PAGE>

                                    ARTICLE X
                            MISCELLANEOUS PROVISIONS

Section 10.1 General Limitations

(A)     In order that the Plan be maintained as a qualified plan and trust under
        the Code,  contributions  in respect of a Member shall be subject to the
        limitations  set  forth  in  this  Section,  notwithstanding  any  other
        provision of the Plan. The contributions in respect of a Member to which
        this Section is applicable are his own  contributions  and/or  deferrals
        and the Employer's contributions.

        For purposes of this Section  10.1,  a Member's  contributions  shall be
        determined  without regard to any rollover  contributions as provided in
        Section 402(a)(5) of the Code.

(B)     Annual  additions to a Member's  Account in respect of any Plan Year may
        not exceed the limitations  set forth in Section 415 of the Code,  which
        are  incorporated  herein  by  reference.  For these  purposes,  "annual
        additions" shall have the meaning set forth in Section  415(c)(2) of the
        Code,  as modified  elsewhere in the Code and the  Regulations,  and the
        limitation   year   shall   mean  the  Plan   Year   unless   any  other
        twelve-consecutive-  month period is designated pursuant to a resolution
        adopted by the Employer and designated in the Adoption  Agreement.  If a
        Member in the Plan also  participates  in any defined  benefit  plan (as
        defined in  Sections  414(j) and 415(k) of the Code)  maintained  by the
        Employer  or any of its  Affiliates,  in the event that in any Plan Year
        the sum of the  Member's  "defined  benefit  fraction"  (as  defined  in
        Section  415(e)(2) of the Code) and the Member's  "defined  contribution
        fraction" (as defined in Section 415(e)(3) of the Code) exceeds 1.0, the
        benefit  under such  defined  benefit  plan or plans shall be reduced in
        accordance  with the provisions of that plan or those plans, so that the
        sum of such  fractions  in respect of the Member will not exceed 1.0. If
        this  reduction  does not ensure that the  limitation  set forth in this
        Paragraph (B) is not exceeded,  then the annual  addition to any defined
        contribution  plan,  other than the Plan, shall be reduced in accordance
        with the  provisions  of that plan but only to the extent  necessary  to
        ensure that such limitation is not exceeded.

(C)     In the event that, due to forfeitures,  reasonable error in estimating a
        Member's compensation,  or other limited facts and circumstances,  total
        contributions and/or deferrals to a Member's Account are found to exceed
        the  limitations of this Section,  the TPA, at the direction of the Plan
        Administrator, shall cause contributions made under

                                       55

<PAGE>

        Article III in excess of such limitations to be refunded to the affected
        Member,  with  earnings  thereon,  and shall take  appropriate  steps to
        reduce, if necessary,  the Employer  contributions  made with respect to
        those  returned  contributions.  Such refunds  shall not be deemed to be
        withdrawals, loans, or distributions from the Plan. If a Member's annual
        contributions exceed the limitations  contained in Paragraph (B) of this
        Section  after the Member's  Article III  contributions,  with  earnings
        thereon,  if any,  have  been  refunded  to such  Member,  any  Employer
        supplemental and/or profit sharing  contribution to be allocated to such
        Member in respect of any Contribution  Determination  Period  (including
        allocations as provided in this Paragraph) shall instead be allocated to
        or for the benefit of all other  Members who are Employees in Employment
        as  of  the  last  day  of  the  Contribution  Determination  Period  as
        determined  under  the  Adoption  Agreement  and  allocated  in the same
        proportion  that  each  such  Member's  Salary  for  such   Contribution
        Determination  Period  bears to the total  Salary for such  Contribution
        Determination  Period  of all  such  Members  or,  the TPA  may,  at the
        election   of  the   Employer,   utilize   such  excess  to  reduce  the
        contributions   which  would   otherwise  be  made  for  the  succeeding
        Contribution  Determination Period by the Employer.  If, with respect to
        any Contribution Determination Period, there is an excess profit sharing
        contribution,  and such excess  cannot be fully  allocated in accordance
        with the preceding  sentence  because of the  limitations  prescribed in
        Paragraph (B) of this Section, the amount of such excess which cannot be
        so allocated  shall be allocated to the Employer Credit Account and made
        available to the Employer  pursuant to the terms of Article VI. The TPA,
        at the direction of the Plan Administrator, in accordance with Paragraph
        (D) of this  Section,  shall  take  whatever  additional  action  may be
        necessary to assure that  contributions  to Members'  Accounts  meet the
        requirements of this Section.

(D)     In addition to the steps set forth in Paragraph (C) of this Section, the
        Employer may from time to time adjust or modify the maximum  limitations
        applicable  to  contributions  made in  respect  of a Member  under this
        Section  10.1 as may be required or permitted by the Code or ERISA prior
        to or  following  the date  that  allocation  of any such  contributions
        commences and shall take  appropriate  action to  reallocate  the annual
        contributions   which  would  otherwise  have  been  made  but  for  the
        application of this Section.

(E)     Membership  in the Plan  shall  not give any  Employee  the  right to be
        retained  in the  Employment  of the  Employer  and shall not affect the
        right of the Employer to discharge any Employee.

                                       56

<PAGE>

(F)     Each Member,  Spouse and Beneficiary assumes all risk in connection with
        any  decrease  in the  market  value of the  assets of the  Trust  Fund.
        Neither the Employer nor the Trustee  guarantees  that upon  withdrawal,
        the value of a Member's  Account  will be equal to or  greater  than the
        amount of the Member's own deferrals or contributions, or those credited
        on his behalf in which the Member has a vested interest, under the Plan.

(G)     The  establishment,  maintenance  or  crediting  of a  Member's  Account
        pursuant to the Plan shall not vest in such  Member any right,  title or
        interest  in the Trust  Fund  except at the times and upon the terms and
        conditions  and to the  extent  expressly  set forth in the Plan and the
        Trust Agreement.

(H)     The Trust Fund shall be the sole source of  payments  under the Plan and
        the  Employer,  Plan  Administrator  and  TPA  assume  no  liability  or
        responsibility for such payments, and each Member, Spouse or Beneficiary
        who  shall  claim  the  right to any  payment  under  the Plan  shall be
        entitled to look only to the Trust Fund for such payment.

Section 10.2 Top Heavy Provisions

The  Plan  will be  considered  a Top  Heavy  Plan  for any  Plan  Year if it is
determined to be a Top Heavy Plan as of the last day of the preceding Plan Year.
The  provisions  of this  Section  10.2  shall  apply  and  supersede  all other
provisions  in the Plan during each Plan Year with  respect to which the Plan is
determined to be a Top Heavy Plan.

(A)     For purposes of this Section 10.2,  the  following  terms shall have the
        meanings set forth below:

        (1)   "Affiliate"  shall mean any entity  affiliated  with the  Employer
              within  the  meaning of  Section  414(b),  414(c) or 414(m) of the
              Code, or pursuant to the IRS  Regulations  under Section 414(o) of
              the Code,  except that for  purposes of  applying  the  provisions
              hereof with respect to the  limitation on  contributions,  Section
              415(h) of the Code shall apply.

        (2)   "Aggregation   Group"  shall  mean  the  group  composed  of  each
              qualified retirement plan of the Employer or an Affiliate in which
              a Key  Employee  is a member and each other  qualified  retirement
              plan of the Employer or an Affiliate  which  enables a plan of the
              Employer or an  Affiliate  in which a Key  Employee is a member to
              satisfy  Sections  401(a)(4) or 410 of the Code. In addition,  the
              TPA, at the  direction  of the Plan  Administrator,  may choose to
              treat any other qualified retirement plan as a

                                       57

<PAGE>

              member of the  Aggregation  Group if such  Aggregation  Group will
              continue to satisfy  Sections  401(a)(4)  and 410 of the Code with
              such plan being taken into account.

        (3)   "Key Employee"  shall mean a "Key Employee" as defined in Sections
              416(i)(1) and (5) of the Code and the IRS Regulations  thereunder.
              For  purposes  of  Section  416 of the  Code and for  purposes  of
              determining  who is a Key  Employee,  an  Employer  which is not a
              corporation  may have  "officers"  only for Plan  Years  beginning
              after December 31, 1985. For purposes of determining  who is a Key
              Employee  pursuant to this Subparagraph  (3),  compensation  shall
              have the meaning  prescribed in Section  414(s) of the Code, or to
              the extent  required by the Code or the IRS  Regulations,  Section
              1.415-2(d) of the IRS Regulations.

        (4)   "Non-Key  Employee" shall mean a "Non-Key  Employee" as defined in
              Section 416(i)(2) of the Code and the IRS Regulations thereunder.

        (5)   "Top Heavy Plan"  shall  mean  a "Top Heavy Plan"  as  defined  in
              Section 416(g) of the Code and the IRS Regulations thereunder.

(B)     Subject to the  provisions  of Paragraph  (D) below,  for each Plan Year
        that  the  Plan  is  a  Top  Heavy  Plan,  the  Employer's  contribution
        (including  contributions  attributable  to salary  reduction or similar
        arrangements) allocable to each Employee (other than a Key Employee) who
        has satisfied the eligibility  requirement(s)  of Article II, Section 2,
        and who is in  service  at the end of the Plan  Year,  shall not be less
        than the lesser of (i) 3% of such eligible  Employee's  compensation (as
        defined in Section  414(s) of the Code or to the extent  required by the
        Code or the IRS Regulations,  Section 1.415-2(d) of the Regulations), or
        (ii) the percentage at which Employer  contributions  for such Plan Year
        are made and  allocated  on  behalf  of the Key  Employee  for whom such
        percentage  is  the  highest.   For  the  purpose  of  determining   the
        appropriate percentage under clause (ii), all defined contribution plans
        required to be included in an Aggregation  Group shall be treated as one
        plan. Clause (ii) shall not apply if the Plan is required to be included
        in an  Aggregation  Group  which  enables  a defined  benefit  plan also
        required to be included in said  Aggregation  Group to satisfy  Sections
        401(a)(4) or 410 of the Code.

(C)     If the Plan is a Top Heavy Plan for any Plan Year,  and the Employer has
        elected vesting Schedule 3 or 6 under Article VI, the vested interest of
        each Member,  who is credited with at least one Hour of Employment on or
        after the Plan becomes a Top Heavy Plan,

                                       58

<PAGE>

        in the  Units  allocated  to his  Account  shall  not be less  than  the
        percentage determined in accordance with the following schedule:

                     Completed Years of                        Vested
                         Employment                          Percentage
                    --------------------                     ----------
                     Less than 2                                  0%
                     2 but less than 3                           20%
                     3 but less than 4                           40%
                     4 but less than 5                           60%
                     5 or more                                  100%

(D)     (1)     For each Plan Year that the Plan is a Top Heavy Plan,  1.0 shall
                be  substituted  for  1.25  as the  multiplicand  of the  dollar
                limitation in determining the denominator of the defined benefit
                plan fraction and of the defined  contribution plan fraction for
                purposes of Section 415(e) of the Code.

        (2)     If,  after  substituting  "90%" for "60%"  wherever  the  latter
                appears  in  Section  416(g)  of  the  Code,  the  Plan  is  not
                determined   to  be  a  Top  Heavy  Plan,   the   provisions  of
                Subparagraph  (1) of this  Paragraph (D) shall not be applicable
                if the minimum Employer contribution allocable to any Member who
                is a Non-Key  Employee as  specified  in  Paragraph  (B) of this
                Section is determined by substituting "4%" for 3%.

(E)     The TPA  shall,  to the  maximum  extent  permitted  by the  Code and in
        accordance  with  the IRS  Regulations,  apply  the  provisions  of this
        Section  10.2 by  taking  into  account  the  benefits  payable  and the
        contributions  made under any other  qualified  plan  maintained  by the
        Employer, to prevent inappropriate  omissions or required duplication of
        minimum contributions.

Section 10.3 Information and Communications

Each Employer,  Member,  Spouse and Beneficiary shall be required to furnish the
TPA with such  information  and data as may be considered  necessary by the TPA.
All  notices,  instructions  and other  communications  with respect to the Plan
shall be in such form as is  prescribed  from time to time by the TPA,  shall be
mailed by first class mail or delivered personally,  and shall be deemed to have
been duly given and delivered only upon actual  receipt  thereof by the TPA. All
information and data submitted by an Employer or a Member,  including a Member's
birth date,  marital  status,  salary and  circumstances  of his  Employment and
termination thereof, may

                                       59

<PAGE>

be accepted and relied upon by the TPA. All communications  from the Employer or
the Trustee to a Member, Spouse or Beneficiary shall be deemed to have been duly
given if mailed by first  class mail to the address of such person as last shown
on the records of the Plan.

Section 10.4 Small Account Balances

Notwithstanding  the  foregoing  provisions  of the  Plan,  if the  value of all
portions of a Member's Account under the Plan, when  aggregated,  is equal to or
exceeds $3,500,  then the Account will not be distributed without the consent of
the Member prior to age 65 (at the earliest),  but if the aggregate value of all
portions  of his  Account  is  less  than  $3,500,  then  his  Account  will  be
distributed  as soon as practicable  following the  termination of Employment by
the Member.

Section 10.5 Amounts Payable to Incompetents, Minors or Estates

If the Plan  Administrator  shall  find that any  person  to whom any  amount is
payable  under the Plan is unable to care for his affairs  because of illness or
accident,  or is a minor,  or has died,  then any  payment due him or his estate
(unless  a  prior  claim  therefor  has  been  made  by a duly  appointed  legal
representative)  may be paid to his Spouse,  relative or any other person deemed
by the Plan  Administrator  to be a proper  recipient  on behalf of such  person
otherwise entitled to payment. Any such payment shall be a complete discharge of
the liability of the Trust Fund therefor.

Section 10.6 Non-alienation of Amounts Payable

Except insofar as may otherwise be required by applicable  law, or Article VIII,
or pursuant  to the terms of a Qualified  Domestic  Relations  Order,  no amount
payable  under  the  Plan  shall be  subject  in any  manner  to  alienation  by
anticipation, sale, transfer, assignment, bankruptcy, pledge, attachment, charge
or  encumbrance  of any kind,  and any attempt to so alienate shall be void; nor
shall the Trust  Fund in any  manner be liable  for or  subject  to the debts or
liabilities of any person entitled to any such amount payable;  and further,  if
for any reason any amount  payable  under the Plan would not  devolve  upon such
person entitled thereto, then the Employer, in its discretion, may terminate his
interest  and hold or apply such  amount for the  benefit of such  person or his
dependents  as it may deem  proper.  For the  purposes of the Plan, a "Qualified
Domestic  Relations  Order"  means  any  judgment,  decree  or order  (including
approval of a property  settlement  agreement)  which has been determined by the
Plan Administrator, in accordance with procedures established under the Plan, to
constitute a Qualified  Domestic  Relations  Order within the meaning of Section
414(p)(1)  of the Code.  No amounts may be withdrawn  under  Article VII, and no
loans granted under Article VIII, if the

                                       60

<PAGE>

TPA has received a document which may be determined  following its receipt to be
a Qualified Domestic Relations Order prior to completion of review of such order
by the Plan  Administrator  within the time period prescribed for such review by
the IRS Regulations.

Section 10.7 Unclaimed Amounts Payable

If the TPA cannot  ascertain the  whereabouts of any person to whom an amount is
payable under the Plan, and if, after 5 years from the date such payment is due,
a notice of such  payment due is mailed to the address of such  person,  as last
shown on the records of the Plan,  and within 3 months  after such  mailing such
person has not filed with the TPA or Plan Administrator  written claim therefor,
the Plan  Administrator  may direct in  accordance  with ERISA that the  payment
(including the amount allocable to the Member's contributions) be cancelled, and
used  in  abatement  of  the  Plan's  administrative  expenses,   provided  that
appropriate  provision  is made  for  recrediting  the  payment  if such  person
subsequently makes a claim therefor.

Section 10.8 Leaves of Absence

(A)     If the  Employer's  personnel  policies  allow leaves of absence for all
        similarly  situated  Employees on a uniformly  available basis under the
        circumstances   described   in   Paragraphs   (B)(1)-(4)   below,   then
        contribution allocations and vesting service will continue to the extent
        provided in Paragraphs (B)(1)-(4).

(B)     For purposes of the Plan,  there are only four types of approved  Leaves
        of Absence:

        (1)   Non-military  leave granted to a Member for a period not in excess
              of one  year  during  which  service  is  recognized  for  vesting
              purposes  and the Member is entitled to share in any  supplemental
              contributions  under Article III or forfeitures  under Article VI,
              if any,  on a pro-rata  basis,  determined  by the  Salary  earned
              during the Plan Year or Contribution Determination Period; or

        (2)   Non-military  leave or layoff granted to a Member for a period not
              in excess of one year  during  which  service  is  recognized  for
              vesting  purposes,  but the Member is not entitled to share in any
              contributions  or forfeitures as defined under (1) above,  if any,
              during the period of the leave; or

                                       61

<PAGE>

        (3)   To the extent not otherwise  required by applicable law,  military
              or other governmental service leave granted to a Member from which
              he returns  directly  to the service of the  Employer.  Under this
              leave, a Member may not share in any  contributions or forfeitures
              as  defined  under (1)  above,  if any,  during  the period of the
              leave, but vesting service will continue to accrue; or

        (4)   To the extent not otherwise required by applicable law, a military
              leave  granted  at the option of the  Employer  to a Member who is
              subject to military service pursuant to an involuntary  call-up in
              the Reserves of the U.S.  Armed  Services from which he returns to
              the service of the Employer  within 90 days of his discharge  from
              such military  service.  Under this leave, a Member is entitled to
              share in any  contributions  or  forfeitures  as defined under (1)
              above,  if any,  and  vesting  service  will  continue  to accrue.
              Notwithstanding  any provision of the Plan to the  contrary,  if a
              Member  has  one or more  loans  outstanding  at the  time of this
              leave,  repayments on such loan(s) may be suspended, if the Member
              so elects, until such time as the Member returns to the service of
              the Employer or the end of the leave, if earlier.

Section 10.9 Return of Contributions to Employer

(A)     In the case of a contribution that is made by an Employer by reason of a
        mistake  of fact,  the  Employer  may  request  the return to it of such
        contribution  within  one year after the  payment  of the  contribution,
        provided  such  refund is made  within one year after the payment of the
        contribution.

(B)     In the case of a  contribution  made by an  Employer  or a  contribution
        otherwise  deemed to be an Employer  contribution  under the Code,  such
        contribution   shall  be  conditioned  upon  the  deductibility  of  the
        contribution  by the  Employer  under  Section  404 of the Code.  To the
        extent the deduction for such contribution is disallowed,  in accordance
        with IRS Regulations,  the Employer may request the return to it of such
        contribution within one year after the disallowance of the deduction.

(C)     In the  event  that the IRS  determines  that the Plan is not  initially
        qualified under the Code, any contribution made incident to that initial
        qualification  by the Employer  must be returned to the Employer  within
        one year after the date the initial qualification is denied, but only if
        the application for the  qualification is made by the time prescribed by
        law for filing the  Employer's  return for the taxable year in which the
        Plan is adopted, or such later date as the Secretary of the Treasury may
        prescribe.

                                       62

<PAGE>

The contributions returned under (A), (B) or (C) above may not include any gains
on such excess contributions, but must be reduced by any losses.

Section 10.10 Controlling Law

The  Plan and all  rights  thereunder  shall be  governed  by and  construed  in
accordance with ERISA and the laws of the State of New York.

                                       63

<PAGE>

                                   ARTICLE XI
                             AMENDMENT & TERMINATION

Section 11.1 General

While  the  Plan is  intended  to be  permanent,  the  Plan  may be  amended  or
terminated completely by the Employer at any time at the discretion of its Board
of  Directors.  Except  where  necessary  to  qualify  the  Plan or to  maintain
qualification  of the Plan,  no amendment  shall reduce any interest of a Member
existing  prior  to  such  amendment.  Subject  to the  terms  of  the  Adoption
Agreement,  written  notice of such  amendment or termination as resolved by the
Board shall be given to the Trustee,  the Plan  Administrator  and the TPA. Such
notice shall set forth the  effective  date of the amendment or  termination  or
cessation of contributions.

Section 11.2 Termination of Plan and Trust

This Plan and any related Trust Agreement shall in any event terminate  whenever
all property held by the Trustee shall have been  distributed in accordance with
the terms hereof.

Section 11.3 Liquidation of Trust Assets in the Event of Termination

In the event that the  Employer's  Board of Directors  shall decide to terminate
the Plan, or, in the event of complete cessation of Employer contributions,  the
rights of Members to the  amounts  standing  to their  credit in their  Accounts
shall be deemed fully vested and the Plan Administrator shall direct the Trustee
to either  continue  the Trust in full force and effect and  continue so much of
the Plan in full  force and  effect  as is  necessary  to carry out the  orderly
distribution  of benefits to Members and their  Beneficiaries  upon  retirement,
Disability,  death or termination of Employment; or (a) reduce to cash such part
or all of the Plan assets as the Plan  Administrator may deem  appropriate;  (b)
pay the liabilities,  if any, of the Plan; (c) value the remaining assets of the
Plan as of the date of notification of termination  and  proportionately  adjust
Members' Account  balances;  (d) distribute such assets in cash to the credit of
their respective  Accounts as of the  notification of the termination  date; and
(e) distribute all balances which have been  segregated  into a separate fund to
the  persons  entitled  thereto;  provided  that  no  person  in  the  event  of
termination  shall be  required  to accept  distribution  in any form other than
cash.

                                       64

<PAGE>

Section 11.4 Partial Termination

The  Employer  may  terminate  the  Plan  in part  without  causing  a  complete
termination  of the Plan. In the event a partial  termination  occurs,  the Plan
Administrator shall determine the portion of the Plan assets attributable to the
Members affected by such partial  termination and the provisions of Section 11.3
shall apply with respect to such portion as if it were a separate fund.

Section 11.5 Power to Amend

(A)     Subject to Section 11.6,  the Employer,  through its Board of Directors,
        shall  have the  power to amend  the Plan in any  manner  which it deems
        desirable,  including, but not by way of limitation, the right to change
        or modify the method of allocation of such contributions,  to change any
        provision  relating to the  distribution of payment,  or both, of any of
        the assets of the Trust Fund.  Further,  the Employer may (i) change the
        choice  of  options  in the  Adoption  Agreement;  (ii)  add  overriding
        language in the Adoption  Agreement  when such  language is necessary to
        satisfy  Section 415 or Section 416 of the Code  because of the required
        aggregation of multiple  plans;  and (iii) add certain model  amendments
        published by the IRS which specifically provide that their adoption will
        not cause the Plan to be treated as individually  designed.  An Employer
        that  amends the Plan for any other  reason,  including  a waiver of the
        minimum  funding  requirement  under Section 412(d) of the Code, will be
        considered to have an individually designed plan.

        Any  amendment  shall  become  effective  upon the vote of the  Board of
        Directors of the Employer, unless such vote of the Board of Directors of
        the Employer specifies the effective date of the amendment.

        Such effective date of the amendment may be made retroactive to the vote
        of the Board of Directors, to the extent permitted by law.

(B)     The Employer expressly recognizes the authority of the Sponsor, Pentegra
        Services, Inc., to amend the Plan from time to time, except with respect
        to elections of the Employer in the Adoption Agreement, and the Employer
        shall be deemed to have  consented to any such  amendment.  The Employer
        shall receive a written instrument  indicating the amendment of the Plan
        and  such  amendment  shall  become  effective  as of the  date  of such
        instrument.  No such amendment shall in any way impair, reduce or affect
        any Member's vested and nonforfeitable rights in the Plan and Trust.

                                       65

<PAGE>

Section 11.6 Solely  for  Benefit  of  Members,  Terminated  Members  and  their
             Beneficiaries

No changes may be made in the Plan which shall vest in the Employer, directly or
indirectly,  any  interest,  ownership  or  control  in any of  the  present  or
subsequent assets of the Trust Fund.

No part of the funds of the Trust other than such part as may be required to pay
taxes, administration expenses and fees, shall be reduced by any amendment or be
otherwise used for or diverted to purposes  other than the exclusive  benefit of
Members,  retired Members,  Former Members, and their  Beneficiaries,  except as
otherwise provided in Section 10.9 and under applicable law.

No amendment shall become effective which reduces the nonforfeitable  percentage
of  benefit  that  would be  payable  to any  Member if his  Employment  were to
terminate  and no  amendment  which  modifies  the  method of  determining  that
percentage  shall be made  effective  with  respect to any Member  with at least
three  Years of Service  unless  such  member is  permitted  to elect,  within a
reasonable period after the adoption of such amendment,  to have that percentage
determined without regard to such amendment.

Section 11.7 Successor to Business of the Employer

Unless  this  Plan and the  related  Trust  Agreement  be sooner  terminated,  a
successor to the business of the Employer by whatever  form or manner  resulting
may continue the Plan and the related Trust  Agreement by executing  appropriate
supplementary  agreements and such successor shall thereupon  succeed to all the
rights,  powers and duties of the  Employer  hereunder.  The  Employment  of any
Employee who has continued in the employ of such  successor  shall not be deemed
to have  terminated  or severed for any purpose  hereunder if such  supplemental
agreement so provides.

Section 11.8 Merger, Consolidation and Transfer

The Plan  shall  not be merged or  consolidated,  in whole or in part,  with any
other plan,  nor shall any assets or  liabilities  of the Plan be transferred to
any other plan unless the benefit that would be payable to any  affected  Member
under such plan if it terminated immediately after the merger,  consolidation or
transfer,  is equal to or greater  than the benefit that would be payable to the
affected Member under this Plan if it terminated  immediately before the merger,
consolidation or transfer.

                                       66

<PAGE>

Section 11.9 Revocability

This Plan is based upon the condition precedent that it shall be approved by the
Internal  Revenue  Service as  qualified  under  Section  401(a) of the Code and
exempt  from   taxation   under  Section   501(a)  of  the  Code.   Accordingly,
notwithstanding  anything  herein to the  contrary,  if a final  ruling shall be
received in writing from the IRS that the Plan does not initially  qualify under
the terms of Sections  401(a) and 501(a) of the Code,  there shall be no vesting
in any Member of assets  contributed  by the  Employer  and held by the  Trustee
under the Plan. Upon receipt of notification from the IRS that the Plan fails to
qualify as aforesaid,  the Employer reserves the right, at its option, to either
amend the Plan in such manner as may be  necessary or advisable so that the Plan
may so qualify, or to withdraw and terminate the Plan.

Upon the event of  withdrawal  and  termination,  the Employer  shall notify the
Trustee and provide the Trustee with a copy of such ruling and the Trustee shall
transfer and pay over to the Employer all of the net assets  contributed  by the
Employer pursuant to the Plan which remain after deducting the proper expense of
termination and the Trust Agreement shall thereupon  terminate.  For purposes of
this Article XI, "final  ruling" shall mean either (1) the initial letter ruling
from the District  Director in response to the Employer's  original  application
for such a ruling,  or (2) if such letter  ruling is  unfavorable  and a written
appeal  is taken or  protest  filed  within  60 days of the date of such  letter
ruling, it shall mean the ruling received in response to such appeal or protest.

If the Plan is terminated,  the Plan Administrator shall promptly notify the IRS
and such other appropriate governmental authority as applicable law may require.
Neither the  Employer  nor its  Employees  shall make any further  contributions
under the Plan after the termination  date, except that the Employer shall remit
to the TPA a reasonable  administrative fee to be determined by the TPA for each
Member  with a balance in his  Account to defray  the cost of  implementing  its
termination.  Where  the  Employer  has  terminated  the Plan  pursuant  to this
Article,  the Employer may elect to transfer assets from the Plan to a successor
plan  qualified  under  Section  401(a) of the Code in which event the  Employer
shall remit to the TPA an additional  administrative fee to be determined by the
TPA to defray the cost of such transfer transaction.

                                       67

<PAGE>

                        TRUSTS ESTABLISHED UNDER THE PLAN

Assets of the Plan are held in trust under  separate Trust  Agreements  with the
Trustee or Trustees.  Any Eligible Employee or Member may obtain a copy of these
Trust Agreements from the Plan Administrator.

IN WITNESS  WHEREOF,  and as conclusive  evidence of the adoption of the Plan by
the  Employer,  the  Employer  has caused  these  presents to be executed on its
behalf  and its  corporate  seal  to be  hereunder  affixed  as of the __ day of
_______, 200_.

ATTEST:

                                             By
------------------------------------------      --------------------------------
                Clerk

                                       68

<PAGE>

                                         [PENTEGRA LOGO]
                                         108 Corporate Park Drive
                                         White Plains, NY  10603-3805
                                         Tel:   800-872-3473
                                         Fax:  914-694-9384

<PAGE>

ADOPTION AGREEMENT
--------------------------------------------------------------------------------

                                For Lawrence Federal Savings Bank, Ironton, Ohio
                              Employees' Savings & Profit Sharing Plan and Trust
                                                                 Client No.

                                                               [GRAPHIC OMITTED]

<PAGE>

                               ADOPTION AGREEMENT
                                       FOR
                          LAWRENCE FEDERAL SAVINGS BANK
               EMPLOYEES' SAVINGS & PROFIT SHARING PLAN AND TRUST

Name of Employer:   Lawrence Federal Savings Bank
                    ------------------------------------------------------------

Address:            311 South Fifth Street, Ironton, OH 45638
                    ------------------------------------------------------------

Telephone Number:   (740) 532-0263
                    ------------------------------------------------------------

Contact Person:     Jack L. Blair, President and Chief Executive Officer
                    ------------------------------------------------------------

Name of Plan:       Lawrence  Federal  Savings Bank  Employees' Savings & Profit
                    Sharing Plan and Trust
                    ------------------------------------------------------------

THIS ADOPTION  AGREEMENT,  upon  execution by the Employer and the Trustee,  and
subsequent  approval by a duly authorized  representative of Pentegra  Services,
Inc. (the "Sponsor"),  together with the Sponsor's  Employees'  Savings & Profit
Sharing  Plan and  Trust  Agreement  (the  "Agreement"),  shall  constitute  the
Lawrence Federal Savings Bank Employees' Savings & Profit Sharing Plan and Trust
(the "Plan").  The terms and provisions of the Agreement are hereby incorporated
herein  by this  reference;  provided,  however,  that if there is any  conflict
between the Adoption Agreement and the Agreement,  this Adoption Agreement shall
control.

The elections hereinafter made by the Employer in this Adoption Agreement may be
changed by the Employer  from time to time by written  instrument  executed by a
duly authorized representative thereof; but if any other provision hereof or any
provision of the Agreement is changed by the Employer  other than to satisfy the
requirements  of Section 415 or 416 of the  Internal  Revenue  Code of 1986,  as
amended (the "Code"),  because of the required aggregation of multiple plans, or
if as a result of any change by the  Employer the Plan fails to obtain or retain
its tax-qualified status under Section 401(a) of the Code, the Employer shall be
deemed to have amended the Plan  evidenced  hereby and by the Agreement  into an
individually  designed plan, in which event the Sponsor shall thereafter have no
further  responsibility for the tax-qualified  status of the Plan. However,  the
Sponsor may amend any term,  provision or definition of this Adoption  Agreement
or the  Agreement in such manner as the Sponsor may deem  necessary or advisable
from  time to time  and the  Employer  and the  Trustee,  by  execution  hereof,
acknowledge and consent thereto.  Notwithstanding the foregoing, no amendment of
this  Adoption  Agreement  or of the  Agreement  shall  increase  the  duties or
responsibilities of the Trustee without the written consent thereof.

                                        1

<PAGE>

I. Effect of Execution of Adoption Agreement

     The  Employer,  upon  execution  of  this  Adoption  Agreement  by  a  duly
     authorized representative thereof, (choose 1 or 2):

       1. __  Establishes  as a new plan the [ ] Savings & Profit  Sharing  Plan
              and Trust, effective _______ (the "Effective Date").

       2. X   Amends its existing defined  contribution  plan and trust
              Lawrence Federal Savings Bank 401(k) Savings Plan dated October 1,
              1994,  in its  entirety  into the  Lawrence  Federal  Savings Bank
              Employee's  Savings & Profit  Sharing  Plan and  Trust,  effective
              October 1, 2000,  except as  otherwise  provided  herein or in the
              Agreement (the "Effective Date").

II. Definitions

   A. Employer

       1.     "Employer," for purposes of the Plan, shall mean:
              Lawrence Federal Savings Bank, Ironton, Ohio

       2.     The Employer is (choose whichever may apply):

              (a) __ A  member  of a  controlled  group  of  corporations  under
                     Section 414(b) of the Code.

              (b) __ A member of a group of entities  under common control under
                     Section 414(c) of the Code.

              (c) __ A member  of an  affiliated  service  group  under  Section
                     414(m) of the Code.

              (d) X  A corporation.

              (e) __ A sole proprietorship or partnership.

              (f) __ A Subchapter S corporation.

       3.     Employer's Taxable Year Ends on December 31st.

       4.     Employer's Federal Taxpayer Identification Number is 31- 4232145.

       5.     Employer's Plan Number is (enter 3-digit number) 002.

   B. "Entry Date" means the first day of the (choose 1 or 2):

       1. __  Calendar  month  coinciding  with or next  following  the date the
              Employee  satisfies  the  Eligibility  requirements  described  in
              Section III.

                                        2

<PAGE>

       2. X   Calendar  quarter   (January  1,  April  1,  July  1,  October  1)
              coinciding with or next following the date the Employee  satisfies
              the Eligibility requirements described in Section III.

   C. "Member" means an Employee enrolled in the membership of the Plan.

   D. "Normal Retirement Age" means (choose 1 or 2):

       1. __  Attainment  of age ____ (select  an age  not less  than 55 and not
              greater than 65).

       2. X   Later of:  (i) attainment of age 65 or  (ii) the fifth anniversary
              of the date the Member commenced participation in the Plan.

   E. "Normal  Retirement  Date" means the first day of the first calendar month
      coincident with or next following the date upon which a Member attains his
      or her Normal Retirement Age.

   F. "Plan Year"  means the twelve  (12)  consecutive  month  period  ending on
      December 31st).

   G. "Salary" for benefit purposes under the Plan means (choose 1, 2 or 3):

       1. X   Total taxable  compensation as  reported on Form W-2 (exclusive of
              any compensation deferred from a prior year).

       2. __  Basic Salary only.

       3. __  Basic  Salary plus one or more of the  following  (if 3 is chosen,
              then choose (a), (b), (c) or (d), whichever shall apply):

              (a) __  Commissions not in excess of $____________

              (b) __  Commissions  to  the  extent   that  Basic   Salary   plus
                      Commissions do not exceed $__________

              (c) __  Overtime

              (d) __  Overtime and bonuses

       Note:  Member pre-tax  contributions  to a Section 401(k) plan are always
              included in Plan Salary.

              Member pre-tax  contributions  to a Section 125 cafeteria plan are
              also to be included in Plan Salary,  unless the Employer elects to
              exclude such amounts by checking this line ____.

III. Eligibility Requirements

   A. All Employees  shall be eligible to  participate in the Plan in accordance
      with the  provisions  of  Article  II of the Plan,  except  the  following
      Employees shall be excluded (choose whichever shall apply):

       1. __  Employees who have not attained age 21.

       2  X   Employees  who  have not,  during the 6  consecutive  month period
              (1-11,  12 or 24) beginning with an Employee's Date of Employment,
              Date of  Reemployment or any  anniversary  thereof,  completed 500
              Hours of Service  (determined by multiplying  the number of months
              above by 83 1/3.

              Note:  Employers  which permit  Members to make  pre-tax  elective
                     deferrals to the Plan (see V.A.3.) may not elect a 24 month
                     eligibility period.

                                       3

<PAGE>

       3. __  Employees  included in a unit of Employees covered by a collective
              bargaining  agreement,  if retirement benefits were the subject of
              good  faith   bargaining   between  the   Employer   and  Employee
              representatives.

       4. __  Employees  who are  nonresident  aliens and who  receive no earned
              income from the  Employer  which  constitutes  income from sources
              within the United States.

       5. __  Employees included in the following job classifications:

              (a) __   Hourly Employees

              (b) __   Salaried Employees

       6. __  Employees of the following  employers  which are aggregated  under
              Section 414(b), 414(c) or 414(m) of the Code:

              ________________________________________________________
              ____________________________________
              ____________________________________

       Note:  If no entries are made above,  all Employees  shall be eligible to
              participate in the Plan on the later of: (i) the Effective Date or
              (ii) the first day of the calendar  month or calendar  quarter (as
              designated by the Employer in Section  II.D.)  coinciding  with or
              immediately  following the  Employee's  Date of Employment  or, as
              applicable, Date of Reemployment.

   B. Such Eligibility  Computation Period established above shall be applicable
      to (choose 1 or 2):

       1. X   Both present and future Employees.

       2. __  Future Employees only.

   C. Such Eligibility requirements established above shall be (choose 1 or 2):

       1. X   Applied  to  the  designated  Employee  group  on  and  after  the
              Effective Date of the Plan.

       2. __  Waived  for the  consecutive  monthly  period  (may not exceed 12)
              beginning on the Effective Date of the Plan.

                                        4

<PAGE>

IV. Hours of Employment and Prior Employment Credit

   A. The  number of Hours of  Employment  with which an  Employee  or Member is
      credited shall be (choose 1 or 2):

       1. X   The actual number of Hours of Employment. (Hour of Service Method)

       2. __  190  Hours  of   Employment   for  every   month  of   Employment.
              (Equivalency Method)

       Note:  This   election  is  relevant  if  you  selected  an   eligibility
              requirement  under  III.A.2.  or a vesting  schedule under VIII.A.
              other than immediate vesting.

   B. Prior Employment Credit:

       __     Employment with the following entity or entities shall be included
              for eligibility and vesting purposes:

       Note:  If this Plan is a  continuation  of a  Predecessor  Plan,  service
              under the  Predecessor  Plan shall be counted as Employment  under
              this Plan.

       _________________________________________________________________________
       _________________________________________________________________________
       _________________________________________________________________________

V. Contributions

       Note:  Annual  Member  pre-tax  elective  deferrals,   Employer  matching
              contributions, Employer basic contributions, Employer supplemental
              contributions,  Employer profit sharing contributions and Employer
              Qualified Non-Elective  contributions,  in the aggregate,  may not
              exceed 15% of all Members'  Salary  (excluding  from Salary Member
              pre-tax elective deferrals).

   A. Employee Contributions (fill in 1 and/or 6 if applicable; choose 2 or 3; 4
      or 5):

       1. X   The maximum amount of monthly  contributions  a Member may make to
              the Plan is 10% (1-20) of the Member's monthly Salary.

       2. __  A Member may make pre-tax elective deferrals to the Plan, based on
              multiples of 1% of monthly Salary.

       3. __  A Member may not make pre-tax elective deferrals to the Plan.

       4. __  A Member may make after-tax  contributions  to the Plan,  based on
              multiples of 1% of monthly Salary.

       5. __  A Member may not make after-tax contributions to the Plan.

                                        5

<PAGE>

       6. __  An Employee may allocate a rollover contribution to the Plan prior
              to satisfying the Eligibility requirements described above.

   B. A Member may change his or her contribution rate (choose 1, 2 or 3):

       1. __  1 time per pay period.

       2. __  1 time per calendar month.

       3. X   1 time per calendar quarter.

   C. Employer Matching Contributions (fill in 1 if applicable; and choose 2, 3,
      4 or 5):

       1.     The Employer matching contributions under 2, 3 or 4 below shall be
              based on the Member's contributions not in excess of 5%  (1-20 but
              not in excess of the  percentage  specified in A.1.  above) of the
              Member's Salary.

       2. X   The Employer shall allocate to each contributing  Member's Account
              an  amount  equal to  100% (based on 1%  increments  not to exceed
              200%) of the Member's contributions for that month.

       3. __  The Employer shall allocate to each contributing  Member's Account
              an amount determined in accordance with the following schedule:

                  Years of Employment                         Matching %
                  -------------------                         ----------
               Less than 3                                        50%
               At least 3, but less than 5                        75%
               5 or more                                         100%

       4. __  The Employer shall allocate to each contributing  Member's Account
              an amount determined in accordance with the following schedule:

                 Years of Employment                           Matching %
                 -------------------                           ----------
               Less than 3                                       100%
               At least 3, but less than 5                       150%
               5 or more                                         200%

       5. __  No Employer matching contributions will be made to the Plan.

   D. Employer Basic Contributions (choose 1 or 2):

       1. __  The  Employer  shall  allocate an amount equal to __% (based on 1%
              increments not to exceed 15%) of Member's  Salary for the month to
              (choose (a) or (b)):

              (a) __ The Accounts of all Members

              (b) __ The  Accounts  of all Members  who were  employed  with the
                     Employer on the last day of such month.

       2. __  No Employer basic contributions will be made to the Plan.

   E. Employer Supplemental Contributions:

              The Employer may make supplemental contributions for any Plan Year
              in accordance with Section

                                       6

<PAGE>

              3.7 of the Plan.

   F. Employer Profit Sharing Contributions (Choose 1, 2, 3, 4, or 5):

       1. __  No Employer Profit Sharing Contributions will be made to the Plan.

       Non-Integrated Formula

       2. __  Profit sharing  contributions shall be allocated to each Member in
              the same ratio as each Member's  Salary  during such  Contribution
              Determination  Period  bears to the  total of such  Salary  of all
              Members.

       3. __  Profit sharing  contributions shall be allocated to each Member in
              the same  ratio as each  Member's  Salary  for the  portion of the
              Contribution   Determination   Period   during  which  the  Member
              satisfied the Employer's  eligibility  requirement(s) bears to the
              total of such Salary of all Members.

       Integrated Formula

       4. __  Profit sharing  contributions  shall be allocated to each Member's
              Account in a uniform  percentage  (specified  by the  Employer  as
              _____%)  of  each   Member's   Salary   during  the   Contribution
              Determination  Period up to the Social Security  Taxable Wage Base
              as defined in Section  ____ of the Plan  ("Base  Salary")  for the
              Plan Year that includes such Contribution  Determination  Period ,
              plus a uniform  percentage(specified  by the Employer as ____%) of
              each Member's Salary for the Contribution  Determination Period in
              excess of the Social Security Taxable Wage Base ("Excess  Salary")
              for the Plan Year that  includes such  Contribution  Determination
              Period, in accordance with Article III of the Plan.

       5. __  Profit sharing  contributions  shall be allocated to each Member's
              Account in a uniform  percentage  (specified  by the  Employer  as
              ____%) of each Member's Salary for the portion of the Contribution
              Determination   Period  during  which  the  Member  satisfied  the
              Employer's  eligibility  requirement(s),  if any,  up to the  Base
              Salary  for  the  Plan  Year  that  includes   such   Contribution
              Determination  Period, plus a uniform percentage (specified by the
              Employer as ____%) of each Member's  Excess Salary for the portion
              of the Contribution  Determination  Period during which the Member
              satisfied the Employer's eligibility  requirement(s) in accordance
              with Article III of the Plan.

   G. Allocation of Employer Profit Sharing Contributions:

       In  accordance  with  Section V, G above,  a Member  shall be eligible to
       share in  Employer  Profit  Sharing  Contributions,  if any,  as  follows
       (choose 1 or 2):

       1. __  A Member shall be eligible for an  allocation  of Employer  Profit
              Sharing  Contributions for a Contribution  Determination Period in
              all events.

                                        7

<PAGE>

       2. __  A Member shall be eligible for an  allocation  of Employer  Profit
              Sharing Contributions for a Contribution Determination Period only
              if he or she (choose (a), (b) or (c) whichever shall apply):

              (a) __ is   employed   on  the  last   day  of  the   Contribution
                     Determination Period or retired, died or became totally and
                     permanently   disabled   prior  to  the  last  day  of  the
                     Contribution Determination Period.

              (b) __ completed  1,000 Hours of  Employment  if the  Contribution
                     Determination Period is a period of 12 months (250 Hours of
                     Employment if the  Contribution  Determination  Period is a
                     period of 3 months) or retired,  died or became totally and
                     permanently   disabled   prior  to  the  last  day  of  the
                     Contribution Determination Period.

              (c) __ is   employed   on  the  last   day  of  the   Contribution
                     Determination  Period  and,  if such  period is 12  months,
                     completed   1,000  Hours  of   Employment   (250  Hours  of
                     Employment if the  Contribution  Determination  Period is a
                     period of 3 months) or retired,  died or became totally and
                     permanently   disabled   prior  to  the  last  day  of  the
                     Contribution Determination Period.

   H. "Contribution  Determination  Period"  for  purposes  of  determining  and
      allocating  Employer profit sharing  contributions means (choose 1,2, 3 or
      4):

       1. __  The Plan Year.

       2. __  The  Employer's  Fiscal Year  (defined  as the Plan's  "limitation
              year") being the twelve (12) consecutive  month period  commencing
              ______________ (month/day) and ending ___________ (month/day).

       3. __  The three (3)  consecutive  monthly  periods that comprise each of
              the Plan Year quarters.

       4. __  The three (3)  consecutive  monthly  periods that comprise each of
              the Employer's Fiscal Year  quarters.  (Employer's Fiscal  Year is
              the twelve (12) consecutive  month  period commencing ____ (month/
              day) and ending ____ (month/day).)

   I. Employer Qualified Nonelective Contributions:

       The Employer may make qualified  nonelective  contributions  for any Plan
       Year in accordance with Section 3.9 of the Plan.

VI. Investment Funds

       The Employer hereby appoints Barclays Global Investors,  N.A. to serve as
       Investment Manager under the Plan.

                                        8

<PAGE>

       The Employer  hereby  selects the following  Investment  Funds to be made
       available  under the Plan (choose  whichever  shall apply) and consent to
       the lending of securities  by such funds to brokers and other  borrowers.
       The Employer  agrees and  acknowledges  that the  selection of Investment
       Funds made in this Section VI is solely its responsibility,  and no other
       person,   including   the  Sponsor  or   Investment   Manager,   has  any
       discretionary  authority  or  control  with  respect  to  such  selection
       process.  The Employer hereby holds Investment Manager harmless from, and
       indemnifies it against,  any liability  Investment Manager may incur with
       respect to such  Investment  Funds so long as  Investment  Manager is not
       negligent and has not breached its fiduciary duties.

       1. X   Money Market Fund

       2. X   Stable Value Fund

       3. X   Government Bond Fund

       4. X   S&P 500 Stock Fund

       5. X   S&P 500/Value Stock Fund

       6. X   S&P 500/Growth Stock Fund

       7. X   S&P MidCap Stock Fund

       8. X   Russell 2000 Stock Fund

       9. X   International Stock Fund

      10. X   Asset  Allocation  Funds (3)

              o      Income Plus

              o      Growth & Income

              o      Growth

      11. X   Lawrence Financial Holdings,  Inc. Stock Fund (the "Employer Stock
              Fund")

      12. X   Lawrence Federal Savings Bank Certificate of Deposit Fund

VII. Employer Securities

   A. If the Employer makes available an Employer Stock Fund pursuant to Section
      VI of this  Adoption  Agreement,  then voting and tender offer rights with
      respect to Employer  Stock shall be  delegated  and  exercised  as follows
      (choose 1 or 2):

       1. X   Each Member shall be entitled to direct the Plan  Administrator as
              to the voting and tender offer  rights  involving  Employer  Stock
              held in such Member's Account,  and the Plan  Administrator  shall
              follow or cause the Trustee to follow such directions. If a Member
              fails to provide  the Plan  Administrator  with  directions  as to
              voting  or  tender  offer  rights,  the Plan  Administrator  shall
              exercise those rights as it determines in its discretion and shall
              direct the Trustee accordingly.

                                        9

<PAGE>

       2. __  The Plan  Administrator  shall direct the Trustee as to the voting
              of all  Employer  Stock  and as to all  rights  in the  event of a
              tender offer involving such Employer Stock.

VIII.   Investment Direction

   A. Members  shall be  entitled  to  designate  what  percentage  of  employee
      contributions  and  employer  contributions  made on their  behalf will be
      invested  in the  various  Investment  Funds  offered by the  Employer  as
      specified in Section VI of this  Adoption  Agreement;  provided,  however,
      that the following  portions of a Member's Account must be invested in the
      Employer Stock Fund or, if applicable, the Employer Certificate of Deposit
      Fund (choose whichever shall apply):

       1. __  Employer Profit Sharing Contributions

       2. __  Employer Matching Contributions

       3. __  Employer Basic Contributions

       4. __  Employer Supplemental Contributions

       5. __  Employer Qualified Nonelective Contributions

   B. Amounts  invested  in the  Employer  Stock  Fund or,  if  applicable,  the
      Employer  Certificate  of Deposit Fund may not be transferred to any other
      Investment Fund.

       1. __  Notwithstanding  this  election in B, a Member may  transfer  such
              amounts upon (choose whichever may apply):

              (a) __ the attainment of age ___ (insert 45 or greater)

              (b) __ the  completion  of ____  (insert 10 or  greater)  years of
                     employment

              (c) __ the  attainment  of age plus years of  employment  equal to
                     ____ (insert 55 or greater)

   C. A Member may change his or her investment direction (choose 1,2, or 3):

       1. __  1 time per business day.

       2. __  1 time per calendar month.

       3. X   1 time per calendar quarter.

   D. If a Member fails to make an effective investment direction,  the Member's
      contributions and employer contributions made on the Member's behalf shall
      be  invested  in  the  Pentegra  Money  Market  Fund  (insert  one  of the
      Investment Funds selected in Section VI of this Adoption Agreement).

                                       10

<PAGE>

IX. Vesting Schedules; Years of Employment for Vesting Purposes

   A. (Choose 1, 2, 3, 4, 5, 6 or 7)

            Schedule       Years of Employment             Vested %
            --------       -------------------             --------
   1. __    Immediate        Upon Enrollment                100%

            Schedule       Years of Employment             Vested %
            --------       -------------------             --------
   2. __ 2-6 Year Graded     Less than 2                      0%
                             2 but less than 3               20%
                             3 but less than 4               40%
                             4 but less than 5               60%
                             5 but less than 6               80%
                             6 or more                      100%

   3. __ 5-Year Cliff        Less than 5                      0%
                             5 or more                      100%

   4. X  3-Year Cliff        Less than 3                      0%
                             3 or more                      100%

   5. __ 4-Year Graded       Less than 1                      0%
                             1 but less than 2               25%
                             2 but less than 3               50%
                             3 but less than 4               75%
                             4 or more                      100%

   6. __ 3-7 Year Graded     Less than 3                      0%
                             3 but less than 4               20%
                             4 but less than 5               40%
                             5 but less than 6               60%
                             6 but less than 7               80%
                             7 or more                      100%

   7. __ Other               Less than ___                    0%
                              ___  but less than  ___       ___%
                              ___  but less than  ___       ___%
                              ___  but less than  ___       ___%
                              ___  but less than  ___       ___%
                              ___  or more 100%

   B. With respect to the schedules listed above, the Employer elects one of the
      following (choose 1, 2, 3 and 4; or 5):

                                       11

<PAGE>

       1.  Schedule __ solely with respect to Employer matching contributions.

       2.  Schedule __ solely with respect to Employer basic contributions.

       3.  Schedule __ solely   with   respect   to   Employer    supplemental
           contributions.

       4.  Schedule __ solely  with   respect  to  Employer   profit   sharing
           contributions.

       5.  Schedule .4 with respect to all Employer contributions.

       NOTE:  Notwithstanding any election by the Employer to the contrary, each
       Member shall acquire a 100% vested  interest in his Account  attributable
       to all  Employer  contributions  made to the Plan upon the earlier of (i)
       attainment of Normal  Retirement  Age,  (ii)  approval for  disability or
       (iii) death. In addition,  a Member shall at all times have a 100% vested
       interest in the Employer Qualified Non- Elective  Contributions,  if any,
       and in the pre-tax elective deferrals and nondeductible  after-tax Member
       Contributions.

   C. Years of Employment Excluded for Vesting Purposes

     The following Years of Employment shall be disregarded for vesting purposes
     (choose whichever shall apply):

       1. __  Years of  Employment  during any period in which  neither the Plan
              nor any predecessor plan was maintained by the Employer.

       2. __  Years of Employment of a Member prior to attaining age 18.

X. Withdrawal Provisions

   A. The  following  portions  of a  Member's  Account  will  be  eligible  for
      in-service  withdrawals,  subject to the  provisions of Article VII of the
      Plan (choose whichever shall apply):

       1. __  Employee after-tax contributions and the earnings thereon.

       In-service  withdrawals  permitted only in the event of (choose whichever
       shall apply):

              (a) __ Hardship.

              (b) __ Attainment of age 59 1/2.

       2. X   Employee pre-tax elective deferrals and the earnings thereon.

              Note:  In-service  withdrawals  of all employee  pre-tax  elective
                     deferrals and earnings  thereon as of December 31, 1988 are
                     permitted  only in the event of hardship or  attainment  of
                     age 59 1/2.   In-service   withdrawals  of  earnings  after
                     December  31,  1988  are  permitted  only in the  event  of
                     attainment of age 59 1/2.

                                       12

<PAGE>

       3. X   Employee rollover contributions and the earnings thereon.

              In-service  withdrawals  permitted  only in the  event of  (choose
              whichever shall apply):

              (a) X    Hardship.

              (b) X    Attainment of age 59 1/2.

       4. X   Employer matching contributions and the earnings thereon.

              In-service  withdrawals  permitted  only in the  event of  (choose
              whichever shall apply):

              (a) X    Hardship.

              (b) X    Attainment of age 59 1/2.

       5. __  Employer basic contributions and the earnings thereon.

              In-service  withdrawals  permitted  only in the  event of  (choose
              whichever shall apply):

              (a) __   Hardship.

              (b) __   Attainment of age 59 1/2.

       6. __  Employer supplemental contributions and the earnings thereon.

              In-service  withdrawals  permitted  only in the  event of  (choose
              whichever shall apply):

              (a) __   Hardship.

              (b) __   Attainment of age 59 1/2.

       7. __  Employer profit sharing contributions and the earnings thereon.

              In-service  withdrawals  permitted  only in the  event of  (choose
              whichever shall apply):

              (a) __   Hardship.

              (b) __   Attainment of age 59 1/2.

       8. __  Employer qualified nonelective contributions and earnings thereon.

              Note:  In-service    withdrawals   of   all   employer   qualified
                     nonelective   contributions   and   earnings   thereon  are
                     permitted only in the event of attainment of age 59 1/2.

       9. __  No in-service withdrawals shall be allowed.

                                       13

<PAGE>

   B. Notwithstanding  any  elections  made in  Subsection  A of this  Section X
      above, the following portions of a Member's Account shall be excluded from
      eligibility for in-service withdrawals (choose whichever shall apply):

       1. __  Employer contributions,  and the earnings thereon, credited to the
              Employer Stock Fund or, if applicable, the Employer Certificate of
              Deposit Fund.

       2. __  All  contributions  and/or  deferrals,  and the earnings  thereon,
              credited  to the  Employer  Stock  Fund  or,  if  applicable,  the
              Employer Certificate of Deposit Fund.

       3. __  Other:  _________________________________________

XI. Distribution Option (choose whichever shall apply)

       1. __  Lump Sum and partial lump sum payments only.

       2. X   Lump Sum and  partial  lump sum  payments  plus one or more of the
              following (choose (a) and /or (b)):

              (a) X    Installment payments.

              (b) __   Annuity payments.

       3. X   Distributions in kind of Employer Stock.

XII. Loan Program (choose 1, 2 or 3)

       1. __  No loans will be permitted from the Plan.

       2. X   Loans will be permitted from the Member's  Account.[need  existing
              loan policy restrictions rider]

       3. __  Loans  will be  permitted  from the  Member's  Account,  excluding
              (choose whichever shall apply):

              (a) __ Employer  Profit  sharing  contributions  and the  earnings
                     thereon.

              (b) __ Employer matching contributions and the earnings thereon.

              (c) __ Employer basic contributions and the earnings thereon.

              (d) __ Employer   supplemental   contributions  and  the  earnings
                     thereon.

              (e) __ Employee after-tax contributions and the earnings thereon.

              (f) __ Employee  pre-tax  elective   deferrals  and  the  earnings
                     thereon.

              (g) __ Employee rollover contributions and the earnings thereon.

                                       14

<PAGE>

              (h) __ Employer  qualified   nonelective   contributions  and  the
                     earnings thereon.

              (i) __ Any amounts to the extent  invested in the  Employer  stock
                     fund.

XIII.   Additional Information

       If additional  space is needed to select or describe an elective  feature
       of the Plan,  the Employer  should  attach  additional  pages and use the
       following format:

       The  following  is  hereby  made a part of  Section  ___ of the  Adoption
       Agreement  and is thus  incorporated  into and  made a part of the  [Plan
       Name]

       Signature of Employer's Authorized Representative _______________________

       Signature of Trustee _______________________________

       Supplementary Page _____ of [total number of pages].

XIV. Plan Administrator

      The Named Plan Administrator  under the Plan shall be the  (choose 1, 2, 3
      or 4):

       Note: Pentegra Services, Inc. may not be appointed Plan Administrator.

       1. X   Employer

       2. __  Employer's Board of Directors

       3. __  Plan's Administrative Committee

       4. __  Other (if chosen, then provide the following information)

                 Name: ____________________________________________
                 Address: _________________________________________
                 Tel No: __________________________________________
                 Contact: _________________________________________

              Note:  If no Named Plan  Administrator  is designated  above,  the
                     Employer shall be deemed the Named Plan Administrator.

                                       15

<PAGE>

XV. Trustee

       The Employer hereby appoints The Bank of New York to serve as Trustee for
       all Investment Funds under the Plan except the Employer Stock Fund.

       The Employer hereby appoints the following  persons or entity to serve as
       Trustees under the Plan for the Employer Stock Fund.*

        Names: Jack L. Blair, Mary Kratzenberg, Carey Dunfee
               _________________________________________________________________
        Address: 311 South Fifth Street, Ironton, OH 45638
                 _______________________________________________________________
        Telephone No: (740) 532-0263             Contact: Jack L. Blair
                      __________________________          ______________________

                   _____________________________________________________________
                                     Signature of Trustee
                   (Required only if the Employer is serving as its own Trustee)

       *      Subject to  approval  by The Bank of New York,  if The Bank of New
              York is appointed as Trustee for the Employer Stock Fund.

       The Employer  hereby  appoints The Bank of New York to serve as Custodian
       under the Plan for the  Employer  Stock Fund in the event The Bank of New
       York does not serve as Trustee for such Fund.

                                       16

<PAGE>

                        EXECUTION OF ADOPTION AGREEMENT

By execution of this Adoption  Agreement by a duly authorized  representative of
the Employer,  the Employer acknowledges that it has established or, as the case
may be,  amended a  tax-qualified  retirement  plan into the [Name of  Employer]
Employees'  Savings & Profit  Sharing Plan and Trust (the "Plan").  The Employer
hereby  represents and agrees that it will assume full fiduciary  responsibility
for the operation of the Plan and for complying with all duties and requirements
imposed  under  applicable  law,  including,  but not limited  to, the  Employee
Retirement  Income  Security Act of 1974, as amended,  and the Internal  Revenue
Code of 1986, as amended.  In addition,  the Employer represents and agrees that
it will accept full responsibility of complying with any applicable requirements
of federal or state securities law as such laws may apply to the Plan and to any
investments  thereunder.  The  Employer  further  acknowledges  that any opinion
letter  issued with respect to the Adoption  Agreement  and the Agreement by the
Internal Revenue Service ("IRS") to Pentegra  Services,  Inc., as sponsor of the
Employees'  Savings & Profit  Sharing  Plan,  does not  constitute a ruling or a
determination with respect to the tax-qualified  status of the Plan and that the
appropriate  application  must be submitted to the IRS in order to obtain such a
ruling or determination with respect to the Plan.

The  failure  to  properly  complete  the  Adoption   Agreement  may  result  in
disqualification of the Plan and Trust evidenced thereby.

The Sponsor  will inform the  Employer  of any  amendments  to the Plan or Trust
Agreement or of the discontinuance or abandonment of the Plan or Trust.

Any  inquiries  regarding  the  adoption  of the Plan  should be directed to the
Sponsor as follows:

                                     Pentegra Services, Inc.
                                     108 Corporate Park Drive
                                     White Plains, New York  10604
                                     (914) 694-1300

IN WITNESS  WHEREOF,  the  Employer  has caused this  Adoption  Agreement  to be
executed  by its duly  authorized  officer  this _____ day of  ________________,
200____.

                                      [Name of Employer]]

                                       By:______________________________________

                                       Name:____________________________________

                                       Title:___________________________________

                                       17

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