Document:

ex10_7.htm

    

    
      Exhibit 10.7

      

      

      AMENDED AND RESTATED

      SUPPLEMENTAL
RETIREMENT AGREEMENT

      EFFECTIVE
NOVEMBER 5, 2009

      

      The
attached document (Amended and
Restated NBT Bancorp Inc. Supplemental
Executive Retirement Plan, effective as of DATE) sets forth the terms of an agreement for
the payment of supplemental retirement income made as of DATE between NBT Bancorp Inc., a Delaware
corporation and a registered financial holding company headquartered at 52 S.
Broad Street, Norwich, New York  13815, and EMPLOYEE, an individual
residing at ADDRESS.  The parties hereby execute this agreement as
follows:

      

      NBT
BANCORP INC.

      

      

      
        	
                By:

              	 
      	 
      	
                Date:

              	 
      	 
      
	 
      	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	
                Date:

              	 
      	 
      
	
                EMPLOYEE

              	 
      	 
      	 
      	 
      

      

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      PREAMBLE

      

      This
Amended and Restated NBT Bancorp Inc.
Supplemental Executive Retirement Plan (the “Plan”) is effective as
of DATE.  The
purpose of the Plan is to permit certain employees of NBT Bancorp Inc. (the
“Company”), its subsidiary, NBT Bank, National Association (the “Bank”) and
adopting affiliated employers to receive supplemental retirement income when
such amounts would be due under the benefit and contribution formulas in the
tax-qualified NBT Bancorp Inc. Defined Benefit Pension Plan and NBT Bancorp Inc.
401(k) and Employee Stock Ownership Plan but cannot be paid thereunder due to
the reductions and other limitations imposed by Sections 401(a)(17), 401(k)(3),
401(m) and 415 of the Internal Revenue Code of 1986, as amended and to provide
such employees’ with an aggregate retirement benefit (taking into consideration
amounts paid under such Plans and social security benefits) commencing following
retirement at or after age 62 of not less than 50% of such employees’ final
average compensation, subject to the terms of the Plan.  Capitalized
terms are defined in Article 1 below.

      

      The Plan
is intended to be an unfunded, non-qualified deferred compensation
plan.  Neither the Employer, the Committee, nor the individual members
of the Committee shall segregate or otherwise identify specific assets to be
applied to the purposes of the Plan, nor shall any of them be deemed to be a
trustee of any amounts to be paid under the Plan.  Any liability of
the Employer to any person with respect to benefits payable under the Plan shall
be based solely upon such contractual obligations, if any, as shall be created
by the Plan, and shall give rise only to a claim against the general assets of
the Employer.  No such liability shall be deemed to be secured by any
pledge or any other encumbrance on any specific property of the
Employer.

      

      ARTICLE
1

      

      DEFINITIONS

      

      The
following words and phrases shall have the meanings hereafter ascribed to
them.  Those words and phrases which have limited application are
defined in the respective Articles in which such terms appear.

      

      
        	
                1.1

              	
                “Actuarial
      Equivalent” shall have the same meaning the term “Actuarial Equivalent”
      has under Section 2.03 of Appendix A to the Basic Retirement Plan using
      the following actuarial
assumptions:

              

      

      

      
        	
                 
      

              	 	
                Mortality:  “Applicable
      Mortality Rate” as such term is defined in Section 2.03c of Appendix A to
      the Basic Retirement Plan.

              

      

      

      
        	
                 
      

              	 	
                Interest
      Rate:  “Applicable Interest Rate” as such term is defined
      in Section 2.09b of Appendix A to the Basic Retirement
    Plan.

              

      

      

      
        	
                1.2

              	
                “Bank”
      means NBT Bank, National Association or any successor thereto by merger,
      consolidation or otherwise by operation of
law.

              

      

      
        
           

        

        
          1

          
            

          

        

        
           

        

      

      
        	
                1.3

              	
                “Basic
      401(k)/ESOP” means the NBT Bancorp Inc. 401(k) and Employee Stock
      Ownership Plan, as amended from time to
time.

              

      

      

      
        	
                1.4

              	
                “Basic
      401(k)/ESOP Benefit” means the benefit paid to a Participant under the
      Basic 401(k)/ESOP and includes benefits payable upon Normal Retirement,
      Early Retirement, Postponed Retirement, death or termination of
      service.

              

      

      

      
        	
                1.5

              	
                “Basic
      401(k)/ESOP Surviving Spouse Benefit” means the benefit payable to a
      Participant’s surviving spouse under the Basic 401(k)/ESOP upon the
      Participant’s death before a distribution of the Participant’s entire
      Basic 401(k)/ESOP account balance.

              

      

      

      
        	
                1.6

              	
                “Basic
      Retirement Plan” means the NBT Bancorp Inc. Defined Benefit Pension Plan,
      as amended from time to time.

              

      

      

      
        	
                1.7

              	
                “Basic
      Retirement Plan Benefit” means the benefit payable to a Participant under
      the Basic Retirement Plan and includes benefits payable upon Normal
      Retirement, Early Retirement, Postponed Retirement, death or termination
      of service.

              

      

      

      
        	
                1.8

              	
                “Basic
      Retirement Plan Surviving Spouse Benefit” means the benefit payable to a
      Participant’s surviving spouse or eligible children under the Basic
      Retirement Plan upon the Participant’s death, if
  any.

              

      

      

      
        	
                1.9

              	
                “Beneficiary”
      means such living person or living persons designated by the Participant
      in accordance with Section 7.3(a)
      to receive the Supplemental Retirement Benefit after his or her death, or
      his or her personal or legal representative, all as herein described and
      provided.  If no Beneficiary is designated by the Participant or
      if no Beneficiary survives the Participant, the Beneficiary shall be the
      Participant’s estate.

              

      

      

      
        	
                1.10

              	
                “Board”
      means the Board of Directors of the Company, as duly constituted from time
      to time.

              

      

      

      
        	
                1.11

              	
                “Cause”
      means the Participant’s (a) conviction of robbery, bribery, extortion,
      embezzlement, fraud, grand larceny, burglary, perjury, income tax evasion,
      misapplication of Employer funds, false statements in violation of 18
      U.S.C. § 1001, or any other felony that is punishable by a term of
      imprisonment of more than one year; (b) material breach of his or her duty
      of loyalty to the Employer; (c) acts or omissions in the performance of
      his or her duties having a material adverse effect on the Employer that
      were not done or omitted to be done in good faith or which involved
      intentional misconduct or a knowing violation of law; or (d) any
      transaction in the performance of his or her duties with the Employer from
      which he or she derived a material improper personal
    benefit.

              

      

      

      
        	
                1.12

              	
                “Change
      in Control” means:

              

      

      
        
           

        

        
          2

          
            

          

        

        
           

        

      

      
        (i)         
A
change in control with respect to the Company or the Bank of a nature that would
be required to be reported in response to Item 6(e) of Schedule 14A of
Regulation 14A as in effect on the date hereof pursuant to the Securities
Exchange Act of 1934 (the “Exchange Act”); provided that, without limitation,
such a change in control shall be deemed to have occurred at such time as any
person (including an individual, corporation, partnership, trust, association,
joint venture, pool, syndicate, unincorporated organization, joint-stock company
or similar organization or group acting in concert) hereafter becomes the
“beneficial owner” (as defined in Rule 13d-3 under the Exchange Act), directly
or indirectly, of 30 percent or more of the combined voting power of the common
stock and other voting securities of the Company; or

         

      

      
      

      
        (ii)         
During
any period of two consecutive years, individuals who at the beginning of such
period constitute the Board cease for any reason to constitute at least a
majority thereof unless the election, or the nomination for election by the
shareholders of the Company, of each new director was approved by a vote of at
least two-thirds of the directors then still in office who were directors at the
beginning of the period; or

      

      

      
        (iii)         
There
shall be consummated (x) any consolidation or merger of the Company in which it
is not the continuing or surviving corporation or pursuant to which voting
securities of the Company would be converted into cash, securities, or other
property, other than a merger of the Company in which the holders of its common
stock and other voting securities immediately before the merger have
substantially the same proportionate ownership of common stock and other voting
securities, respectively, of the surviving corporation immediately after the
merger, or (y) any sale, lease, exchange, or other transfer (in one transaction
or a series of related transactions) of all, or substantially all of the assets
of the Company or the Bank, provided that any such consolidation, merger, sale,
lease, exchange or other transfer consummated at the insistence of an
appropriate banking regulatory agency shall not constitute a change in control;
or

      

      

      
        (iv)         
Approval
by the shareholders of the Company of any plan or proposal for its liquidation
or dissolution.

      

      

      
        	
                1.13

              	
                “Code”
      means the Internal Revenue Code of 1986, as amended from time to
      time.

              

      

      

      
        	
                1.14

              	
                “Committee”
      means the Plan’s administrative committee, as appointed by the Board to
      administer the Plan, as described in Article
10.

              

      

      

      
        	
                1.15

              	
                “Company”
      means NBT Bancorp Inc. or any successor thereto by merger, consolidation
      or otherwise by operation of law.

              

      

      

      
        	
                1.16

              	
                “Confidential
      Information” means business methods, creative techniques and technical
      data of the Company, the Bank and their affiliates that are deemed by the
      Company, the Bank or any such affiliate to be and are in fact confidential
      business information of the Company, the Bank or its affiliates or are
      entrusted to the Company, the Bank or its affiliates by third parties, and
      includes, but is not limited to, procedures, methods, sales relationships
      developed while the Participant is in the service of the Company, the Bank
      or their affiliates, knowledge of customers and their requirements,
      marketing plans, marketing information, studies, forecasts and surveys,
      competitive analyses, mailing and marketing lists, new business proposals,
      lists of vendors, consultants, and other persons who render service or
      provide material to the Company, the Bank or their affiliates, and
      compositions, ideas, plans, and methods belonging to or related to the
      affairs of the Company, the Bank or their affiliates, except for such
      information as is clearly in the public domain, provided, that information
      that would be generally known or available to persons skilled in the
      Participant’s fields shall be considered to be “clearly in the public
      domain” for this purpose.

              

      

      
        
           

        

        
          3

          
            

          

        

        
           

        

      

      
        	
                1.17

              	
                “Default Payment Commencement Date” means the
      later of: (a) the first day of the month following the month in which the
      Participant attains age 62, and (b) in the event the Participant incurs a
      Separation from Service due to his or her death, the first day of the
      month following the date of death or, in the event the Participant incurs
      a Separation from Service other than by reason of death, the first day of
      the seventh month following the date on which the Participant incurs a
      Separation from Service.

              

      

      

      
        	
                1.18

              	
                “Deferral
      Credit Account” means the bookkeeping account maintained in the name of
      the Employer, on behalf of each Participant, pursuant to Article
      5.

              

      

      

      
        	
                1.19

              	
                “Determination
      Date” means the earlier of (i) the date of termination of the
      Participant’s employment with the Employer or (ii) the first day of the
      month following the Participant’s 65th
birthday.

              

      

      

      
        	
                1.20

              	
                “Effective
      Date” means July DATE.

              

      

      

      
        	
                1.21

              	
                “Employee”
      means a person who is an employee of the
  Employer.

              

      

      

      
        	
                1.22

              	
                “Employer”
      means the Company, the Bank and any subsidiary or affiliated corporation
      of either of them which, with the approval of the Board and subject to
      such conditions as the Board may impose, adopts the Plan, and any
      successor or successors of any of
them.

              

      

      

      
        	
                1.23

              	
                “Final
      Average Compensation” shall have the same meaning as the term “Final
      Average Compensation” has under Section 2.27 of Appendix A to the Basic
      Retirement Plan, except that in determining the amount of Compensation (as
      defined in Section 2.14 of Appendix A to the Basic Retirement Plan) to be
      used in calculating Final Average Compensation under Section 2.27 of
      Appendix A to the Basic Retirement Plan, Compensation shall not be subject
      to the compensation limitation of section 401(a)(17) of the
      Code.

              

      

      

      
        	
                1.24

              	
                “401(k)/ESOP
      Benefit” means the deferred compensation 401(k)/ESOP Benefit provided to
      Participants and their beneficiaries in accordance with the applicable
      provisions of the Plan.

              

      

      

      
        	
                1.25

              	
                “Full-Time
      Employee” shall mean an Employee who works not less than 1,000 hours in a
      calendar year.

              

      

      

      
        	
                1.26

              	
                “Other
      Retirement Benefits” means the sum
of:

              

      

      

      
        
          	
                	
                  (a) 

                	
                  The
      annual benefit payable to the Participant from the Basic Retirement Plan;
      plus

                

        

      

      

      
        	
                 
      

              	
                (b)

              	
                The
      annual Retirement Income Benefit payable to the Participant hereunder;
      plus

              

      

      
        
           

        

        
          4

          
            

          

        

        
           

        

      

      
        	
                 
      

              	
                (c)

              	
                The
      annual amount of any supplemental retirement benefit payable to the
      Participant by the Employer or any other Employer pursuant to any
      Supplemental Retirement Agreement with the Participant (other than amounts
      attributable to elective deferrals of such Participant’s compensation);
      plus

              

      

      

      
        	
                 
      

              	
                (d)

              	
                The
      annual benefit that could be provided by (A) Employer contributions (other
      than elective deferrals) made on the Participant’s behalf under the Basic
      401(k)/ESOP, and (B) actual earnings on contributions in (A), if such
      contributions and earnings were converted to a benefit payable at age 62
      in the same form as the Supplemental Retirement Benefit, using the same
      actuarial assumptions as are provided under Section 1.1;
    plus

              

      

      

      
        	
                 
      

              	
                (e)

              	
                The
      annual benefit that could be provided by the Participant’s Deferral Credit
      Account, if such Deferral Credit Account were converted to a benefit
      payable at age 62 in the same form as the Supplemental Retirement Benefit,
      using the same actuarial assumptions as are provided under Section
      1.1.

              

      

      

      
        	 	
                The
      amount of Other Retirement Benefits shall be determined by an actuary
      selected by the Company, with such determination to be made without regard
      to whether the Participant is receiving payment of such benefits on the
      Determination Date.  To the extent the Participant receives a
      payment of Other Retirement Benefits described in 1.26(d) or (e) prior to
      the date the Supplemental Retirement Benefit is determined pursuant to
      this Plan, the total of such Other Retirement Benefits shall be determined
      by including and assuming that such amounts earned interest at a variable
      rate equal to the one-year United States Treasury bill rate as reported in
      the New York edition of The Wall Street Journal on the Determination Date
      from the date received to the date Other Retirement Benefits are
      calculated for purposes of this
Plan.

              

      

      

      
        	
                1.27

              	
                “Participant”
      means an Employee who has been designated by the Employer as eligible to
      participate in the Plan and who becomes a Participant pursuant to the
      provisions of Article 2.

              

      

      

      
        	
                1.28

              	
                “Payment Commencement Date” means the later of (a)
      the first day of the seventh month following the date a Participant incurs
      a Separation from Service other than by reason of death, or if due to
      death, the first day of the month following the Participant’s death, and
      (b) the date elected by the Participant in his or her valid Payment
      Election.

              

      

      

      
        	
                1.29

              	
                “Payment Election” means a Participant’s election
      on the form provided by the Company of a Payment Commencement Date and the
      form in which payment shall be made in accordance with the procedures
      established by the Committee for such
  purpose.

              

      

      

      
        	
                1.30

              	
                “Plan”
      means the NBT Bancorp Inc. Supplemental Executive Retirement Plan, as
      herein set forth, and as it may hereafter be amended from time to
      time.

              

      

      
        
           

        

        
          5

          
            

          

        

        
           

        

      

      
        	
                1.31

              	
                “Plan
      Limitation Provisions” means provisions of the Basic 401(k)/ESOP and the
      Basic Retirement Plan that reduce or restrict an Employee’s
      employer-provided benefits under the Basic Retirement Plan and employer
      matching contributions to the Basic 401(k)/ESOP (including Article IX and
      the last sentence of Section 1.12 of the Basic Retirement Plan and the
      next to last paragraph of Section 1.14, the third paragraph of Section
      1.33 and Sections 4.5, 4.7 and 4.9 of the Basic 401(k)/ESOP, or the
      corresponding provisions of any amendment to such Plans) in order to
      satisfy the limitations imposed by one or more of the
      following:  (i) Section 401(a)(17) of the Code, (ii) Section
      401(k)(3) of the Code, (iii) Section 401(m) of the Code, or (iv) Section
      415 of the Code.

              

      

      

      
        	
                1.32

              	
                “Plan
      Year” means the period from the Effective Date through December 31, 2001
      and each calendar year thereafter within which the Plan is in
      effect.

              

      

      

      
        	
                1.33

              	
                “Present
      Value” means the present value of a benefit determined on the basis of the
      actuarial assumptions specified in Section
1.1

              

      

      

      
        	
                1.34

              	
                “Separation from Service” means a “separation from
      service” within the meaning of Treas. Reg. §1.409A-1(h) and in accordance
      with the default rules thereunder, which includes termination of a
      Participant’s employment with the Company or any Affiliate, whether
      voluntarily or involuntarily, by reason of death, retirement, becoming
      disabled, resignation or discharge.  Transfer to employment with
      an Affiliate shall not be treated as a Separation from
      Service.

              

      

      

      
        	
                1.35

              	
                “Social
      Security Benefit” means the Participant’s actual social security benefit
      at his or her Social Security Retirement
Age.

              

      

      

      
        	
                1.36

              	
                “Social
      Security Retirement Age” shall have the same meaning the term “Social
      Security Retirement Age” has under Section 2.58 of Appendix A to the Basic
      Retirement Plan.

              

      

      

      
        	
                1.37

              	
                “Retirement
      Income Benefit” means the deferred compensation retirement income benefit
      determined pursuant to Article 4.

              

      

      

      
        	
                1.38

              	
                “Supplemental
      Retirement Benefit” means the deferred compensation retirement benefit
      determined pursuant to Article 6.

              

      

      

      
        	
                1.39

              	
                “Supplemental
      Surviving Spouse Benefit” means the survivor death benefit payable to a
      Participant’s surviving spouse, pursuant to the provisions of Sections 8.1
      through 8.3.

              

      

      

      
        	
                1.40

              	
                “Year
      of Service” means a calendar year in which the Participant completes not
      less than 1,000 Hours of Service (as defined in Section 1.25 of the Basic
      Retirement Plan) with an Employer.

              

      

      

      Words
importing males shall be construed to include females and the singular shall be
construed to include the plural, and vice versa, wherever
appropriate.

      
        
           

        

        
          6

          
            

          

        

        
           

        

      

      ARTICLE
2

      

      ELIGIBILITY AND
PARTICIPATION

      

      
        	
                2.1

              	
                Plan
      eligibility is limited to a select group of management or highly
      compensated Employees, as designated in writing by the Board, who
      participate in the Basic Retirement Plan, the Basic 401(k)/ESOP or both
      such plans.

              

      

      

      From time
to time, the Company may designate one or more Employees who participate in the
Basic Retirement Plan, the Basic 401(k)/ESOP or both such plans as participants
in the Plan, from the class of Employees participating in the Basic Retirement
Plan, the Basic 401(k)/ESOP or both such plans who are members of a select group
of management Employees or are highly compensated Employees.  Newly
eligible Employees shall participate as of the date specified by the
Board.

      

      
        	
                2.2

              	
                The
      Company may, from time to time, remove any Participant from participation
      in the Plan; provided, however,
      that, subject to Section 12.4, such removal will not reduce the amount of
      Retirement Income Benefit and 401(k)/ESOP Benefit credited to the
      Participant under the Plan, as determined as of the date of such
      Participant’s removal.  A Participant so removed shall remain a
      Participant until all benefits are distributed in accordance with the
      provisions of the Plan.

              

      

      

      
        	
                2.3

              	
                The
      Committee may provide each eligible Employee with appropriate forms in
      connection with participation in the
Plan.

              

      

      

      ARTICLE
3

      

      RETIREMENT
DATE

      

      
        	
                3.1

              	
                A
      Participant’s Retirement Date shall be his or her date of actual
      retirement, which may be his or her Normal, Early, Disability or Postponed
      Retirement Date, whichever is applicable pursuant to the following
      sections of this Article 3.

              

      

      

      
        	
                3.2

              	
                A
      Participant’s Normal Retirement Age shall be the 65th anniversary of his
      or her birth.  Such Participant’s Normal Retirement Date shall
      be the date coinciding with Normal Retirement Date under the Basic
      Retirement Plan.

              

      

      

      
        	
                3.3

              	
                A
      Participant may retire on an Early Retirement Date, which shall be the
      date coinciding with the initial distribution of an early retirement
      benefit under the Basic Retirement
Plan.

              

      

      

      
        	
                3.4

              	
                A
      Participant may retire on a Disability Retirement Date, which shall be the
      date coinciding with the initial distribution of a disability retirement
      benefit under the Basic Retirement
Plan.

              

      

      
        
           

        

        
          7

          
            

          

        

        
           

        

      

      
        	
                3.5

              	
                If
      a Participant continues in the employment of the Employer beyond Normal
      Retirement Date, the date coinciding with postponed retirement under the
      Basic Retirement Plan shall be the Participant’s Postponed Retirement
      Date.

              

      

      

      ARTICLE
4

      

      RETIREMENT INCOME
BENEFIT

      

      
        	
                4.1

              	
                The
      Retirement Income Benefit payable to an eligible Participant in the form
      of a life annuity with five years certain commencing on his or her Normal,
      Early, Disability or Postponed Retirement Date, as the case may be, shall
      be equal to the excess, if any, of the amount specified in (a) over the
      amount specified in (b), as stated
below:

              

      

      

      
        	
                 
      

              	
                (a)

              	
                the
      monthly amount of Basic Retirement Plan retirement income payable upon
      Normal, Early or Postponed Retirement Date, as the case may be, to which
      the Participant would have been entitled under the Basic Retirement
      Plan (including any payments credited as a
      result of a Participant being a Disabled Participant (as defined in the
      Basic Retirement Plan)), if such benefit were calculated under the
      Basic Retirement Plan without giving effect to the limitations and
      restrictions imposed by the application of Plan Limitation Provisions and
      any other provisions of the Basic Retirement Plan that are necessary to
      comply with Code Sections 401(a)(17) and 415, or any successor provisions
      thereto;

              

      

      

      
        	
                 
      

              	
                (b)

              	
                the
      sum of (i) the monthly amount of Basic Retirement Plan retirement income
      payable upon Normal, Early or Postponed Retirement Date, as the case may
      be, actually payable to the Participant under the Basic Retirement
      Plan (including any payments credited as a
      result of a Participant being a Disabled Participant (as defined in the
      Basic Retirement Plan)), after the limitations and restrictions
      imposed by the application of the Plan Limitation Provisions and any other
      provisions of the Basic Retirement Plan that are necessary to comply with
      Code Sections 401(a)(17) and 415, or any successor provisions thereto,
      plus (ii) the monthly amount of retirement income that is the actuarial
      equivalent (determined in accordance with the Basic Retirement Plan) of
      any supplemental retirement benefit payable to the Participant by any
      Employer upon Normal, Early or Postponed Retirement Date, as the case may
      be, pursuant to any Supplemental Retirement Agreement with the
      Participant.

              

      

      

      
        	
                4.2

              	
                With
      respect to eligible Participants who terminate their employment other than
      on a Retirement Date specified in Article 3, the vested Retirement Income
      Benefit payable in the form of a life annuity with five years certain,
      commencing on the date the Participant is eligible for a vested retirement
      benefit under the Basic Retirement Plan, shall be equal to the excess, if
      any, of the amount specified in (a) over the amount specified in (b), as
      stated below:

              

      

      
        
           

        

        
          8

          
            

          

        

        
           

        

      

      
        	
                 
      

              	
                (a)

              	
                the
      monthly amount of Basic Retirement Plan vested retirement income payable
      upon termination of service to which the Participant would have been
      entitled under the Basic Retirement Plan, if such benefit were calculated
      under the Basic Retirement Plan without giving effect to the limitations
      and restrictions imposed by the application of the Plan Limitation
      Provisions and any other provisions of the Basic Retirement Plan that are
      necessary to comply with Code Sections 401(a)(17) and 415, or any
      successor provisions thereto;

              

      

      

      
        	
                 
      

              	
                (b)

              	
                the
      sum of (i) the monthly amount of Basic Retirement Plan vested retirement
      income payable upon termination of service actually payable to the
      Participant under the Basic Retirement Plan, after the limitations and
      restrictions imposed by the application of the Plan Limitation Provisions
      and any other provisions of the Basic Retirement Plan that are necessary
      to comply with Code Sections 401(a)(17) and 415, or any successor
      provisions thereto, plus (ii) the monthly amount of retirement income that
      is the actuarial equivalent (determined in accordance with the Basic
      Retirement Plan) of any supplemental retirement benefit payable to the
      Participant by any Employer following such termination of service pursuant
      to any Supplemental Retirement Agreement with the
    Participant.

              

      

      

      ARTICLE
5

      

      SUPPLEMENTAL
401(k)/ESOP

      BENEFIT AND DEFERRAL CREDIT
ACCOUNTS

      

      
        	
                5.1

              	
                The
      401(k)/ESOP Benefit under the Plan shall equal the discretionary and
      matching contributions or other Employer-provided benefit to the extent
      provided for under the Basic 401(k)/ESOP (disregarding the limitations and
      restrictions imposed by the application of the Plan Limitation Provisions
      and any other provisions of the Basic 401(k)/ESOP that are necessary to
      comply with Code Sections 401(a)(17), 401(k)(3), 401(m), and 415, or any
      successor provisions thereto) for plan years of the Basic 401(k)/ESOP
      ending after the Effective Date, less any such amount actually contributed
      by the Employer to the Basic 401(k)/ESOP for such plan years (to the
      extent permitted by the terms thereof, taking into account the limitations
      and restrictions imposed by the application of the Plan Limitation
      Provisions and any other provisions of the Basic 401(k)/ESOP that are
      necessary to comply with Code Sections 401(a)(17), 401(k)(3), 401(m), and
      415, or any successor provisions thereto), adjusted for income, gains and
      losses based on deemed investments, pursuant to Section 5.4
      below.  For purposes of this Section 5.1, it shall be assumed
      that the Participant has made Basic 401(k)/ESOP contributions, on a
      before-tax or after-tax basis, as are necessary to qualify for the maximum
      Employer provided benefit available under the Basic 401(k)/ESOP to
      similarly situated Basic 401(k)/ESOP Participants who are not affected by
      such restrictions and limitations.

              

      

      

      
        	
                5.2

              	
                The
      401(k)/ESOP Benefit under the Plan shall be accounted for by the Employer
      under a Deferral Credit Account, maintained in the name of the Employer,
      on behalf of each Participant.

              

      

      
        
           

        

        
          9

          
            

          

        

        
           

        

      

      
        	
                5.3

              	
                Each
      Deferral Credit Account maintained by the Employer shall be credited with
      units on behalf of each Participant, as appropriate in accordance with the
      401(k)/ESOP Benefit, as soon as administratively practicable, but in no
      event later than March 15 of the Plan Year following the Plan Year in
      which Basic 401(k)/ESOP contributions on behalf of the Participant were
      limited or restricted.

              

      

      

      
        	
                5.4

              	
                The
      401(k)/ESOP Benefit credited annually to each Participant’s Deferral
      Credit Account under the Plan shall be deemed to be invested on a time
      weighted basis, based upon the crediting of the Deferral Credit Account
      under Section 5.3 above, as if such amounts had been invested in the same
      manner as the investment of the corresponding amounts pursuant to the
      Basic 401(k)/ESOP, and such Account shall be credited with income and
      gains, and charged with losses, as if such investments had actually been
      made.

              

      

      

      ARTICLE
6

      

      SUPPLEMENTAL RETIREMENT
BENEFIT

      

      
        	
                6.1

              	
                If
      an eligible Participant shall remain employed by the Employer until
      reaching his or her 62nd birthday, serving as a Full-Time Employee until
      such date, and subject to the other terms and conditions of this Plan, the
      Company shall pay such Participant an annual “Supplemental Retirement
      Benefit” determined as follows:

              

      

      

      
        	
                 
      

              	
                (a)

              	
                the
      Participant shall be entitled to a Supplemental Retirement Benefit on and
      after his or her 62nd birthday
      but before his or her Social Security Retirement Age in an amount equal to
      the excess, if any, of (1) XX percent of the Participant’s Final Average
      Compensation, over (2) the Participant’s Other Retirement Benefits,
      determined as of the Determination
Date.

              

      

      

      
        	
                 
      

              	
                (b)

              	
                the
      Participant shall be entitled to a Supplemental Retirement Benefit on and
      after his or her Social Security Retirement Age in an amount equal to the
      excess, if any, of (1) XX percent of the Participant’s Final Average
      Compensation, over (2) the sum of (aa) the Participant’s Other Retirement
      Benefits, determined as of the Determination Date, plus (bb) the
      Participant’s Social Security
Benefit.

              

      

      

      
        	
                6.2

              	
                If
      an eligible Participant shall remain employed by the Employer until
      reaching his or her XXth birthday, serving as a Full-Time Employee until
      such date and he or she continues to serve as a Full-Time Employee until
      the date of his or her retirement, and he or she retires then or
      thereafter but before reaching his or her XXnd birthday, and subject to
      the other terms and conditions of this Plan, the Company shall pay such
      Participant after the date of his or her retirement, pursuant to Section
      7.2(b),
      or to his or her spouse or other Beneficiary, pursuant and subject to
      Section 8.6(c) if he or she has died before his or her XXnd birthday, a
      reduced early Supplemental Retirement Benefit calculated in accordance
      with the following schedule:

              

      

      
        
           

        

        
          10

          
            

          

        

        
           

        

      

      
        	
                 
      

              	
                (a)

              	
                if
      the date of the Participant’s retirement shall be on or after his or her
      XXth birthday but before his or her XXst birthday, the Company shall pay
      such Participant XX% of the Supplemental Retirement Benefit calculated in
      accordance with Section 6.1; and

              

      

      

      
        	
                 
      

              	
                (b)

              	
                if
      the date of the Participant’s retirement shall be on or after his or her
      XXst
      birthday but before his or her XXnd birthday, the Company shall pay such
      Participant XX% of the Supplemental Retirement Benefit so
      calculated.

              

      

      

      ARTICLE
7

      

      MODES OF BENEFIT PAYMENT
AND

      VESTING OF
BENEFITS

      

      
        	
                7.1

              	
                Payment of any Retirement Income Benefit
      and 401(k)/ESOP Benefit under the Plan to a Participant, beneficiary,
      joint or contingent annuitant or eligible child shall be made in the normal form in which
      benefits are made under the Basic Retirement Plan and Basic
      401(k)/ESOP, respectively, and commence on
      the Default Payment Commencement Date; provided, however, that payment
      shall instead be made in accordance with the Participant’s Payment
      Election if the Participant has in place a valid Payment
      Election.  To be valid, the Payment Election shall be an
      irrevocable election made on such form provided by the Company and filed
      with the Company no later than December 31,
      2008.  Notwithstanding any provision to the contrary in the
      Plan, payment of any Retirement Income Benefit and 401(k)/ESOP Benefit to
      a Participant shall commence on the Payment Commencement Date (or as soon
      as reasonably practicable thereafter retroactive to a Participant’s
      Payment Commencement Date, but in no event more than 60 days following the
      Payment Commencement Date).

              

      

      

      Any
Retirement Income Benefit paid from the Plan in a form other than a life annuity
shall be the actuarial equivalent of a life annuity, utilizing the actuarial
equivalent factors set forth in the Basic Retirement Plan and applied to obtain
the optional mode of payment thereunder.

      

      
        	
                7.2

              	
                The
      Supplemental Retirement Benefit shall be
paid:

              

      

      

      
        	
                 
      

              	
                (a)

              	
                except
      as provided in Section 7.2(b) (early
      retirement) and Section 8.6 (death), commencing on the first day of the
      month following the later of the Participant’s retirement or his or her
      attainment of age XX; or

              

      

      

      
        	
                 
      

              	
                (b)

              	
                commencing
      on the first day of the month following the Participant’s Determination
      Date in connection with early retirement after reaching age XX and prior
      to the date of his or her XXnd birthday,
      and

              

      

      

      
        	
                 
      

              	
                (c)

              	
                notwithstanding anything herein to the contrary,
      no Supplemental Retirement Benefit shall commence under this Plan before
      the date which is the seventh (7th) month following the Participant’s
      “separation from service” with the Company as that phrase is defined for
      purposes of section 409A of the
Code.

              

      

      
        
           

        

        
          11

          
            

          

        

        
           

        

      

      
        	
                7.3

              	
                The
      Supplemental Retirement Benefit shall be paid in the form specified
      below:

              

      

      

      
        	
                 
      

              	
                (a)

              	
                The
      Supplemental Retirement Benefit shall be paid as a straight life annuity,
      payable in monthly installments, for the Participant’s life; provided,
      however, that if the Participant has no surviving spouse and dies before
      having received 60 monthly payments, such monthly payments shall be
      continued to his or her Beneficiary until the total number of monthly
      payments to the Participant and his or her Beneficiary equal 60, whereupon
      all payments shall cease and the Company’s obligation to pay the
      Supplemental Retirement Benefit under shall be deemed to have been fully
      discharged.  If the Participant and his or her Beneficiary shall
      die before having received a total of 60 monthly payments, an amount equal
      to the Actuarial Equivalent of the balance of such monthly payments shall
      be paid in a single sum to the estate of the survivor of the Participant
      and his or her Beneficiary.  If Supplemental Retirement Benefits
      are payable in the form described in this Section 7.3(a), the Participant shall designate in
      writing, as his or her Beneficiary, any person or persons, primarily,
      contingently or successively, to whom the Company shall pay benefits
      following the Participant’s death if the Participant’s death occurs before
      60 monthly payments have been made.

              

      

      

      
        	
                 
      

              	
                (b)

              	
                Notwithstanding
      the form of payment described in Section 7.3(a), if the Participant is married on
      the date payment of the Supplemental Retirement Benefit commences, the
      benefit shall be paid as a 50% joint and survivor annuity with the
      Participant’s spouse as the Beneficiary.  The 50% joint and
      survivor annuity shall be the Actuarial Equivalent of the benefit
      described in Section 7.3(a).  If the Supplemental
      Retirement Benefit is payable pursuant to this Sectio7.3(b), but the Participant’s spouse fails to
      survive him or her, no payments of the Supplement Retirement Benefit will
      be made following the Participant’s
death.

              

      

      

      
        	
                7.4

              	
                Subject
      to Section 12.4, each Participant shall have a 100 percent vested and
      non-forfeitable right to benefits under the
  Plan.

              

      

      

      ARTICLE
8

      

      DEATH
BENEFITS

      

      
        	
                8.1

              	
                Upon
      the death of:  (i) a Participant who has not terminated from
      employment before Retirement Date as defined in Section 3.1, or (ii) a
      Participant who retires on a Retirement Date as defined in Section 3.1 and
      dies before the complete distribution of Basic Retirement Plan Benefit and
      Basic 401(k)/ESOP Benefit, as the case may be, benefits shall be payable
      as set forth in Sections 8.2, 8.3 and
8.4.

              

      

      
        
           

        

        
          12

          
            

          

        

        
           

        

      

      
        	
                8.2

              	
                With
      respect to any Retirement Income Benefit, if a Basic Retirement Plan
      pre-retirement survivor annuity or post retirement survivor annuity, as
      the case may be, is payable to a Participant’s surviving spouse or
      eligible children, if applicable, a supplemental pre-retirement survivor
      annuity or post retirement survivor annuity, as the case may be, shall be
      payable to the surviving spouse or eligible children, if applicable, under
      the Plan.  The monthly amount of the Supplemental Surviving
      Spouse Benefit pre-retirement survivor annuity or post retirement survivor
      annuity, as the case may be, payable to a surviving spouse or eligible
      children, if applicable, shall be equal to the excess, if any, of the
      amount specified in (a) over the amount specified in (b), as stated
      below:

              

      

      

      
        	
                 
      

              	
                (a)

              	
                the
      monthly amount of Basic Retirement Plan pre-retirement survivor annuity or
      post retirement survivor annuity, as the case may be, to which the
      surviving spouse or eligible children, if applicable, would have been
      entitled under the Basic Retirement Plan, if such benefit were calculated
      under the Basic Retirement Plan without giving effect to the limitations
      and restrictions imposed by the Plan Limitation Provisions and any other
      provisions of the Basic Retirement Plan that are necessary to comply with
      Code Sections 401(a)(17) and 415, or any successor provisions
      thereto;

              

      

      

      
        	
                 
      

              	
                (b)

              	
                (i)  the
      monthly amount of Basic Retirement Plan pre-retirement survivor annuity or
      post retirement survivor annuity, as the case may be, actually payable to
      the surviving spouse or eligible children, if applicable, under the Basic
      Retirement Plan, after the limitations imposed by the application of Plan
      Limitation Provisions and any other provisions of the Basic Retirement
      Plan that are necessary to comply with Code Sections 401(a)(17) and 415,
      or any successor provisions thereto plus (ii) the monthly amount that is
      the actuarial equivalent (determined in accordance with the Basic
      Retirement Plan) of any supplemental retirement benefit payable to the
      surviving spouse or eligible children, if applicable, by any Employer
      following the Participant’s death pursuant to any Supplemental Retirement
      Agreement with the Participant.

              

      

      

      
        	
                8.3

              	
                The
      Retirement Income Benefit supplemental pre-retirement survivor annuity or
      post retirement survivor annuity shall be payable over the lifetime of the
      surviving spouse, or to eligible children to the extent provided in the
      Basic Retirement Plan, in monthly installments commencing on the same date
      as payment of the Basic Retirement Plan pre-retirement survivor annuity or
      post retirement survivor annuity, as the case may be, and shall terminate
      on the date of the last payment of the Basic Retirement Plan
      pre-retirement survivor annuity or post retirement survivor annuity, as
      the case may be.

              

      

      

      
        	
                8.4

              	
                With
      respect to any 401(k)/ESOP Benefit, all amounts credited to the
      Participant’s Deferral Credit Account shall be payable in a single lump
      sum to the Participant’s surviving spouse, if any, as a Supplemental
      Surviving Spouse Benefit, unless an optional mode has been elected
      pursuant to Article 7.

              

      

      
        
           

        

        
          13

          
            

          

        

        
           

        

      

      
        	
                8.5

              	
                Upon
      the death of a Participant under the circumstances set forth in clauses
      (i) and (ii) of Section 8.1, if no Basic Retirement Plan Surviving Spouse
      Benefit, or Basic 401(k)/ESOP Surviving Spouse Benefit, as the case may
      be, is payable, (a) no further Retirement Income Benefit shall be payable,
      unless an optional mode has been elected pursuant to Article 7, and (b)
      all amounts credited to the Participant’s Deferral Credit Account shall be
      payable to the Participant’s designated beneficiary in a single lump sum,
      unless an optional mode has been elected pursuant to Article
      7.

              

      

      

      
        	
                8.6

              	
                The
      following provisions shall apply with respect to payment of the
      Supplemental Retirement Benefit after the death of a
      Participant:

              

      

      

      
        	
                 
      

              	
                (a)

              	
                Except
      as provided in Section 8.6(b), if a Participant shall die before his or
      her 62nd birthday, no Supplemental Retirement Benefit shall be
      payable.

              

      

      

      
        	
                 
      

              	
                (b)

              	
                If
      a Participant shall die on or after his or her 60th birthday, after he or
      she has retired but before payment of any Supplemental Retirement Benefit
      has commenced, the Participant’s surviving spouse, if any, shall be paid
      as a straight life annuity 50 percent of the Supplemental Retirement
      Benefit for her life commencing within 30 days following the Participant’s
      death.  Such payments shall be made in monthly
      installments.  However, if such Participant is not married at
      the time of his or her death, the Company shall pay to the Participant’s
      Beneficiary a lump sum benefit equal to 50 percent of the Present Value of
      the Participant’s Supplemental Retirement
  Benefit.

              

      

      

      
        	
                 
      

              	
                (c)

              	
                Except
      as provided in Section 8.6(b), no Supplemental Retirement Benefit shall be
      payable if the Participant dies before payment of any Supplement
      Retirement Benefit has begun without having a spouse who survives him or
      her.

              

      

      

      
        	
                 
      

              	
                (d)

              	
                If
      a Participant dies after payment of a Supplemental Retirement Benefit has
      commenced, the amount, if any, of the Supplemental Retirement Benefit
      payable to the Participant’s surviving spouse or other Beneficiary shall
      be determined pursuant to the applicable provisions of Section 7.3.

              

      

      

      ARTICLE
9

      

      UNFUNDED
PLAN

      

      
        	
                9.1

              	
                The
      Plan shall be administered as an unfunded plan and is not intended to meet
      the qualification requirements of Sections 401(a) and 401(k) of the
      Code.  No Participant or beneficiary shall be entitled to
      receive any payment or benefits under the Plan from the qualified trust
      maintained in connection with the Basic Retirement Plan and Basic
      401(k)/ESOP.

              

      

      

      
        	
                9.2

              	
                The
      Employer shall have the right to establish a reserve, establish a grantor
      trust or make any investment for the purposes of satisfying its obligation
      hereunder for payment of benefits, including, but not limited to,
      investments in one or more registered investment companies under the
      Investment Company Act of 1940, as amended, to the extent permitted by
      applicable banking or other law; provided, however, that
      no Participant or beneficiary shall have any interest in such investment,
      trust, or reserve.

              

      

      
        
           

        

        
          14

          
            

          

        

        
           

        

      

      
        	
                9.3

              	
                To
      the extent that any Participant or beneficiary acquires a right to receive
      benefits under the Plan, such rights shall be no greater than those rights
      which guarantee to the Participant or beneficiary the strongest claim to
      such benefits, without resulting in the Participant’s or beneficiary’s
      constructive receipt of such
benefits.

              

      

      

      
        	
                9.4

              	
                With
      respect to any 401(k)/ESOP Benefit, 100% of the Participant’s Deferral
      Credit Account shall be deemed to be invested as provided in Section 5.4
      above.  A Participant’s Deferral Credit Account may not be
      encumbered or assigned by a Participant or any
  beneficiary.

              

      

      

      
        	
                9.5

              	
                A
      Participant or beneficiary with a Retirement Income Benefit, the
      401(k)/ESOP Benefit or both such Benefits under the Plan shall be an
      unsecured creditor of the Employer as to any benefit payable under the
      Plan.

              

      

      

      
        	
                9.6

              	
                Not
      later than the closing of any transaction that would constitute a Change
      of Control, the Employer shall transfer to an independent corporate
      trustee of a grantor trust within the meaning of section 671 of the Code
      that satisfies the applicable requirements of Revenue Procedure 92-64 or
      any successor thereto an amount sufficient to cover all potential
      liabilities under this Plan.

              

      

      

      ARTICLE
10

      

      ADMINISTRATION

      

      
        	
                10.1

              	
                Except
      for the functions reserved to the Company or the Board, the administration
      of the Plan shall be the responsibility of the Committee.  The
      Committee shall consist of three or more persons designated by the
      Company.  Members of the Committee shall serve for such terms as
      the Company shall determine and until their successors are designated and
      qualified.  Any member of the Committee may resign upon at least
      60 days written notice to the Company, or may be removed from office by
      the Company at any time, with or without
notice.

              

      

      

      
        	
                10.2

              	
                The
      Committee shall hold meetings upon notice at such times and places as it
      may determine.  Notice shall not be required if waived in
      writing.  Any action of the Committee shall be taken pursuant to
      a majority vote at a meeting, or pursuant to the written consent of a
      majority of its members without a meeting, and such action shall
      constitute the action of the Committee and shall be binding in the same
      manner as if all members of the Committee had joined therein.  A
      majority of the members of the Committee shall constitute a
      quorum.  No member of the Committee shall note or be counted for
      quorum purposes on any matter relating solely to himself or herself or his
      or her rights under the Plan.  The Committee shall record
      minutes of any actions taken at its meetings or of any other official
      action of the Committee.  Any person dealing with the Committee
      shall be fully protected in relying upon any written notice, instruction,
      direction or other communication signed by the Secretary of the Committee
      or by any of the members of the Committee or by a representative of the
      Committee authorized by the Committee to sign the same in its
      behalf.

              

      

      
        
           

        

        
          15

          
            

          

        

        
           

        

      

      
        	
                10.3

              	
                The
      Committee shall have the power and the duty to take all actions and to
      make all decisions necessary or proper to carry out the
      Plan.  The determination of the Committee as to any question
      involving the Plan shall be final, conclusive and binding.  Any
      discretionary actions to be taken under the Plan by the Committee shall be
      uniform in their nature and applicable to all persons similarly
      situated.  Without limiting the generality of the foregoing, the
      Committee shall have the following powers and
  duties:

              

      

      

      
        	
              	
                (a)

              	
                the
      duty to furnish to all Participants, upon request, copies of the
      Plan;

              

      

      

      
        	
                 
      

              	
                (b)

              	
                the
      power to require any person to furnish such information as it may request
      for the purpose of the proper administration of the Plan as a condition to
      receiving any benefits under the
Plan;

              

      

      

      
        	
                 
      

              	
                (c)

              	
                the
      power to make and enforce such rules and regulations and prescribe the use
      of such forms as it shall deem necessary for the efficient administration
      of the Plan;

              

      

      

      
        	
                 
      

              	
                (d)

              	
                the
      power to interpret the Plan, and to resolve ambiguities, inconsistencies
      and omissions, which findings shall be binding, final and
      conclusive;

              

      

      

      
        	
                 
      

              	
                (e)

              	
                the
      power to decide on questions concerning the Plan in accordance with the
      provisions of the Plan;

              

      

      

      
        	
                 
      

              	
                (f)

              	
                the
      power to determine the amount of benefits which shall be payable to any
      person in accordance with the provisions of the Plan and to provide a full
      and fair review to any Participant whose claim for benefits has been
      denied in whole or in part;

              

      

      

      
        	
                 
      

              	
                (g)

              	
                the
      power to designate a person who may or may not be a member of the
      Committee as Plan “Administrator” for purposes of the Employee Retirement
      Income Security Act of 1974 (ERISA); if the Committee does not so
      designate an Administrator, the Committee shall be the Plan
      Administrator;

              

      

      

      
        	
                 
      

              	
                (h)

              	
                the
      power to allocate any such powers and duties to or among individual
      members of the Committee; and

              

      

      

      
        	
                 
      

              	
                (i)

              	
                the
      power to designate persons other than Committee members to carry out any
      duty or power which would otherwise be a responsibility of the Committee
      or Administrator, under the terms of the
Plan.

              

      

      

      
        	
                10.4

              	
                To
      the extent permitted by law, the Committee and any person to whom it may
      delegate any duty or power in connection with administering the Plan, the
      Company, any Employer, and the officers and directors thereof, shall be
      entitled to rely conclusively upon, and shall be fully protected in any
      action taken or suffered by them in good faith in the reliance upon, any
      actuary, counsel, accountant, other specialist, or other person selected
      by the Committee, or in reliance upon any tables, valuations,
      certificates, opinions or reports which shall be furnished by any of
      them.  Further, to the extent permitted by law, no member of the
      Committee, nor the Company, any Employer, nor the officers or directors
      thereof, shall be liable for any neglect, omission or wrongdoing of any
      other members of the Committee, agent, officer or employee of the Company
      or any Employer.  Any person claiming benefits under the Plan
      shall look solely to the Employer for
redress.

              

      

      
        
           

        

        
          16

          
            

          

        

        
           

        

      

      
        	
                10.5

              	
                All
      expenses incurred before the termination of the Plan that shall arise in
      connection with the administration of the Plan (including, but not limited
      to administrative expenses, proper charges and disbursements, compensation
      and other expenses and charges of any actuary, counsel, accountant,
      specialist, or other person who shall be employed by the Committee in
      connection with the administration of the Plan), shall be paid by the
      Employer.

              

      

      

      ARTICLE
11

      

      AMENDMENT OR
TERMINATION

      

      
        	
                11.1

              	
                The
      Board shall have the power to suspend or terminate the Plan in whole or in
      part at any time, and from time to time to extend, modify, amend or revise
      the Plan in such respects as the Board, by resolution, may deem advisable;
      provided,
      however, that no such extension, modification, amendment, revision, or
      termination shall deprive a Participant or any beneficiary of any benefit
      accrued under the Plan.

              

      

      

      
        	
                11.2

              	
                In
      the event of a termination or partial termination of the Plan, the rights
      of all affected parties, if any, to benefits accrued to the date of such
      termination or partial termination, shall become nonforfeitable to the
      same extent that such rights would be nonforfeitable if such benefits were
      provided under the Basic Retirement Plan or the Basic 401(k)/ESOP and such
      plans were terminated on such date.

              

      

      

      
        	
                11.3

              	
                No
      amendment of the Plan shall reduce the vested and accrued benefits, if
      any, of a Participant under this Plan, except to the extent that such a
      reduction would be permitted if such benefits were provided under the
      Basic Retirement Plan or the Basic
401(k)/ESOP.

              

      

       

      
        	
                11.4

              	
                In
      the event of the termination or partial termination of the
      Plan:  (a) the Company shall pay in one lump sum to affected
      Participants or their beneficiaries the 401(k)/ESOP Benefit, if any, to
      which they are entitled, as if such Participants’ termination of service
      had occurred on the date the Plan is terminated, and (b) the Retirement
      Income Benefit and Supplemental Retirement Benefit, if any, to which they
      are entitled shall continue to be
payable.

              

      

      

      ARTICLE
12

      

      GENERAL
PROVISIONS

      

      
        	
                12.1

              	
                The
      Plan shall not be deemed to constitute an employment contract between the
      Employer and any Employee or other person, whether or not in the employ of
      the Employer, nor shall anything herein contained be deemed to give any
      Employee or other person, whether or not in the employ of the Employer,
      any right to be retained in the employ of the Employer, or to interfere
      with the right of the Employer to discharge any Employee at any time and
      to treat such Employee without any regard to the effect which such
      treatment might have upon such Employee as a Participant of the
      Plan.

              

      

      
        
           

        

        
          17

          
            

          

        

        
           

        

      

      
        	
                12.2

              	
                Except
      as provided in Section 12.4, or as may otherwise be required by law, no
      distribution or payment under the Plan to any Participant or beneficiary
      shall be subject in any manner to anticipation, alienation, sale,
      transfer, assignment, pledge, encumbrance or charge, whether voluntary or
      involuntary, and any attempt to so anticipate, alienate, sell, transfer,
      assign, pledge, encumber or charge the same shall be void; nor shall any
      such distribution or payment be in any way liable for or subject to the
      debts, contracts, liabilities, engagements or torts of any person entitled
      to such distribution or payment.  If any Participant or
      beneficiary is adjudicated bankrupt or purports to anticipate, alienate,
      sell, transfer, assign, pledge, encumber or charge any such distribution
      or payment, voluntarily or involuntarily, the Committee, in its sole
      discretion, may cancel such distribution or payment or may hold or cause
      to be held or applied such distribution or payment, or any part thereof,
      to or for the benefit of such Participant or beneficiary, in such manner
      as the Committee shall direct.

              

      

      

      
        	
                12.3

              	
                If
      the Employer determines that any person entitled to payments under the
      Plan is incompetent by reason of physical or mental disability, it may
      cause all payments thereafter becoming due to such person to be made to
      any other person for his or her benefit, without responsibility to follow
      application of amounts so paid.  Payments made pursuant to this
      provision shall completely discharge the Plan, the Employer and the
      Committee.

              

      

      

      
        	
                12.4

              	
                Notwithstanding
      any other provision of this Plan:

              

      

      

      
        	
                 
      

              	
                (a)

              	
                if
      the Employer determines that Cause exists for the termination of the
      Participant’s employment, the Participant and his or her spouse and
      beneficiaries shall forfeit all rights to any payments under this
      Plan;

              

      

      

      
        	
                 
      

              	
                (b)

              	
                if
      a Participant incurs a Separation
      from Service before having completed
      five Years of Service with any Employer, no Supplemental Retirement
      Benefit shall be payable hereunder;

              

      

      

      
        	
                 
      

              	
                (c)

              	
                no
      amounts shall be payable hereunder to the Participant and his or her
      spouse and beneficiaries:

              

      

      

      
        (i)         
following
any breach by the Participant of any provision of any employment or other
written agreement with the Company, the Bank or any other Employer with respect
to confidentiality, non-competition, non-interference with, or non-solicitation
of, employees, customers, suppliers or agents or similar matters, provided that no Change in
Control shall have occurred before such breach;

      

      
        
           

        

        
          18

          
            

          

        

        
           

        

      

      
        (ii)         
if,
without the prior written consent of the Company, the Participant discloses or
divulges to any third party, except as may be required by his or her duties, by
law, regulation, or order of a court or government authority, or as directed by
the Company, or uses to the detriment of the Company or its affiliates or in any
business or on behalf of any business competitive with or substantially similar
to any business of the Company or the Bank or their affiliates, any Confidential
Information obtained during the course of his or her employment by the Company,
the Bank or any affiliate of any of either of them, provided that this Section
12.4(c)(ii) shall not be construed as restricting the Participant from
disclosing such information to the employees of the Company or the Bank or their
affiliates;

      

      

      
        (iii)         
if while
the Participant is employed by the Company, the Bank, any Employer or any
affiliate of any of them or within two years after any termination of such
employment other than in anticipation of or following a Change in Control, the
Participant (A) interferes with the relationship of the Company, the Bank or
their affiliates with any of their employees, suppliers, agents, or
representatives (including, without limitation, causing or helping another
business to hire any employee of the Company, the Bank or their affiliates), or
(B) directly or indirectly diverts or attempts to divert from the Company, the
Bank or their affiliates any business in which any of them has been actively
engaged during the period of such employment, or interferes with the
relationship of the Company, the Bank or their affiliates with any of their
customers or prospective customers, provided, that this Section
12.4(c)(iii) shall not, in and of itself, prohibit the Participant from engaging
in the banking, trust, or financial services business in any capacity, including
that of an owner or employee; and

      

      

      
        	
                 
      

              	
                (d)

              	
                if
      any particular provision of this section 12.4 shall be adjudicated to be
      invalid or unenforceable, such provision shall be deemed amended to delete
      from the portion thus adjudicated to be invalid or unenforceable, such
      deletion to apply only with respect to the operation of such provision in
      the particular jurisdiction in which such adjudication is
      made.  In addition, should any court determine that the
      provisions of this section 12.4 shall be unenforceable with respect to
      scope, duration, or geographic area, such court shall be empowered to
      substitute, to the extent enforceable, provisions similar hereto or other
      provisions so as to provide to the Company, the Bank and their affiliates,
      to the fullest extent permitted by applicable law, the benefits intended
      by this section 12.4.

              

      

      

      
        	
                12.5

              	
                The
      Employer shall be the sole source of benefits under the Plan, and each
      Employee, Participant, beneficiary, or any other person who shall claim
      the right to any payment or benefit under the Plan shall be entitled to
      look solely to the Employer for payment of
  benefits.

              

      

      
        
           

        

        
          19

          
            

          

        

        
           

        

      

      
        	
                12.6

              	
                If
      the Employer is unable to make payment to any Participant, beneficiary, or
      any other person to whom a payment is due under the Plan, because it
      cannot ascertain the identity or whereabouts of such Participant,
      beneficiary, or other person after reasonable efforts have been made to
      identify or locate such person (including a notice of the payment so due
      mailed to the last known address of such Participant, beneficiary, or
      other person shown on the records of the Employer), such payment and all
      subsequent payments otherwise due to such Participant, beneficiary or
      other person shall be forfeited 24 months after the date such payment
      first became due; provided, however, that
      such payment and any subsequent payments shall be reinstated,
      retroactively, no later than 60 days after the date on which the
      Participant, beneficiary, or other person shall make application
      therefor.  Neither the Company, the Committee nor any other
      person shall have any duty or obligation under the Plan to make any effort
      to locate or identify any person entitled to benefits under the Plan,
      other than to mail a notice to such person’s last known mailing
      address.

              

      

      

      
        	
                12.7

              	
                If
      upon the payment of any benefits under the Plan, the Employer shall be
      required to withhold any amounts with respect to such payment by reason of
      any federal, state or local tax laws, rules or regulations, then the
      Employer shall be entitled to deduct and withhold such amounts from any
      such payments.  In any event, such person shall make available
      to the Employer, promptly when requested by the Employer, sufficient funds
      or other property to meet the requirements of such
      withholding.  Furthermore, at any time the Employer shall be
      obligated to withhold taxes, the Employer shall be entitled to take and
      authorize such steps as it may deem advisable in order to have the amounts
      required to be withheld made available to the Employer out of any funds or
      property due to become due to such person, whether under the Plan or
      otherwise.

              

      

      

      
        	
                12.8

              	
                The
      Committee, in its discretion, may increase or decrease the amount of any
      benefit payable hereunder if and to the extent that it determines, in good
      faith, that an increase is necessary in order to avoid the omission of a
      benefit intended to be payable under this Plan or that a decrease is
      necessary in order to avoid a duplication of the benefits intended to be
      payable under this Plan.

              

      

      

      
        	
                12.9

              	
                The
      provisions of the Plan shall be construed, administered and governed under
      applicable federal laws and the laws of the State of New
      York.  In applying the laws of the State of New York, no effect
      shall be given to conflict of laws principles that would cause the laws of
      another jurisdiction to apply.

              

      

      
        
           

        

        
          20

          
            

          

        

        
           

        

      

      
 

       

      AMENDED AND RESTATED

       

      NBT
BANCORP INC.

       

      SUPPLEMENTAL
EXECUTIVE RETIREMENT PLAN

       

      (Effective
as of DATE)

       

       

      
        
           

        

        
          
          

          
            

          

        

        
           

        

      

      TABLE OF
CONTENTS

      

      
        	 
      	
                Page

              
	 
      	 
      
	
                Preamble

              	
                1

              
	
                Article
      1 - Definitions

              	
                1

              
	
                Article
      2 - Eligibility and Participation

              	
                7

              
	
                Article
      3 - Retirement Date

              	
                7

              
	
                Article
      4 - Retirement Income Benefit

              	
                8

              
	
                Article
      5 - Supplemental 401(k)/ESOP Benefit and Deferral Credit
      Accounts

              	
                9

              
	
                Article
      6 - Supplemental Retirement Benefit

              	
                10

              
	
                Article
      7 - Modes of Benefit Payment and Vesting of Benefits

              	
                11

              
	
                Article
      8 - Death Benefits

              	
                12

              
	
                Article
      9 - Unfunded Plan

              	
                14

              
	
                Article
      10 - Administration

              	
                15

              
	
                Article
      11 - Amendment or Termination

              	
                17

              
	
                Article
      12 - General Provisions

              	
                17

              

      

      
 

    

iex10_24.htm

    
      

    

    EXHIBIT
10.24

    

    THIS
EXHIBIT HAS BEEN REDACTED AND IS THE SUBJECT OF A CONFIDENTIAL TREATMENT
REQUEST.  REDACTED MATERIAL IS MARKED WITH [* * *] AND HAS BEEN FILED
SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION.

    

    SETTLEMENT
AGREEMENT

     

     

    This
Settlement Agreement is made and entered into this 10th day of July, 2009,
by and between, on the one hand, Forest and Lundbeck, and on the other hand,
Caraco and Sun.

     

    RECITALS

     

    WHEREAS Forest sells LEXAPRO® brand
escitalopram oxalate products in the Territory under New Drug Application 21-323
and those products are covered by multiple claims of the '712 Patent, the '941
Patent, and the '069 Patent;

     

    WHEREAS the '712 Patent, the '941
Patent, and the '069 Patent are owned by Lundbeck and licensed exclusively to
Forest in the Territory;

     

    WHEREAS Caraco has sought approval from
the FDA to market proposed generic escitalopram oxalate products in the
Territory under ANDA 78-219;

     

    WHEREAS Forest and Lundbeck have
maintained an action against Caraco and Sun for infringement of the '712 Patent
in connection with the proposed generic escitalopram oxalate products defined by
the Caraco ANDA in the United States District Court for the Eastern District of
Michigan, which action is captioned Forest Laboratories, Inc. et al. v.
Caraco Pharmaceutical Laboratories, Ltd. et al., Civil Action No.
06-13143 (E.D. Mich.);

     

    WHEREAS
the '712 Patent was previously litigated in Forest Laboratories, Inc. et al. v.
Ivax Pharmaceuticals, Inc. et al., 438 F. Supp. 2d 479 (D. Del. 2006),
and Forest Laboratories, Inc.
et al. v. Ivax Pharmaceuticals, Inc. et al., 501 F.3d 1263 (Fed. Cir.
2007);

     

    WHEREAS Caraco and Sun stipulated that
the Generic Products defined by the Caraco ANDA infringe claims 1, 3, 5, 7,
and 9 of the '712 Patent in the '712 Patent Action, but contested the validity
of those claims;

     

    WHEREAS Caraco has maintained two
actions against Forest and Lundbeck seeking declaratory judgments of
non-infringement of the '941 Patent and the '069 Patent in the Court, which
actions are captioned Caraco
Pharmaceutical Laboratories, Ltd. v. Forest Laboratories, Inc. et al.,
Civil Action No. 07-10737 (E.D. Mich.), and Caraco Pharmaceutical Laboratories,
Ltd. v. Forest Laboratories, Inc. et al., Civil Action No. 09-10274 (E.D.
Mich.), each regarding the Caraco ANDA and the proposed generic escitalopram
oxalate products that are the subject of that ANDA;

    
      
         

      

      
        
        

        
          

        

      

      
         

      

    

    THIS
EXHIBIT HAS BEEN REDACTED AND IS THE SUBJECT OF A CONFIDENTIAL TREATMENT
REQUEST.  REDACTED MATERIAL IS MARKED WITH [* * *] AND HAS BEEN FILED
SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION.

     

     

    WHEREAS, subject to the terms and
conditions herein, Forest and Lundbeck have agreed to grant Caraco and Sun a
non-exclusive license to make, have made, use, offer to sell, sell or import the
generic escitalopram oxalate products that are the subject of the Caraco ANDA in
the Territory as of the date, and upon the terms, set forth in this Agreement;
and

     

    WHEREAS the Parties are willing to
settle the Actions on the terms set forth herein.

     

    NOW
THEREFORE, in consideration of the promises and mutual covenants set forth
herein, the sufficiency of which are hereby acknowledged, the Parties hereby
agree as follows:

     

    
      	
               
      

            	
              1.

            	
              Definitions.

            

    

     

    1.1.           "'069
Patent" means U.S. Patent No. 7,420,069.

     

    1.2.           "'069
Patent Action" means the case captioned Caraco Pharmaceutical Laboratories,
Ltd. v. Forest Laboratories, Inc. et al., Civil Action No. 09-10274 (E.D.
Mich.).

     

    1.3.           "'712
Patent" means U.S. Patent No. Re.34,712.

     

    1.4.           "''712
Patent Action" means the case captioned Forest Laboratories, Inc. et al. v.
Caraco Pharmaceutical Laboratories, Ltd. et al., Civil Action No.
06-13143 (E.D. Mich.).

     

    1.5.           "'941
Patent" means U.S. Patent No. 6,916,941.

     

    1.6.           "'941
Patent Action" means the case captioned Caraco Pharmaceutical Laboratories,
Ltd. v. Forest Laboratories, Inc. et al., Civil Action No. 07-10737 (E.D.
Mich.).

     

    1.7.           "Actions"
means the '712 Patent Action, the '941 Patent Action and the '069 Patent Action,
collectively.

     

    1.8.           "Affiliate"
means any person or legal entity controlling, controlled by or under common
control with the Party with respect to which such status is at issue and shall
include, without limitation, any corporation 50% or more of the voting power of
which (or other comparable ownership interest for an entity other than a
corporation) is owned, directly or indirectly, by a Party hereto or any
corporation, person or entity that owns 50% or more of such voting power of a
Party hereto.

     

    1.9.           "Agencies"
means the DOJ and the FTC, collectively.

    
      
         

      

      
        2

        
          

        

      

      
         

      

    

    THIS
EXHIBIT HAS BEEN REDACTED AND IS THE SUBJECT OF A CONFIDENTIAL TREATMENT
REQUEST.  REDACTED MATERIAL IS MARKED WITH [* * *] AND HAS BEEN FILED
SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION.

     

     

    1.10.         "Agreement"
means this Settlement Agreement (including Exhibits A through F).

     

    1.11.         "Alphapharm"
means Alphapharm Pty Ltd. and its successors in interest and
Affiliates.

     

    1.12.         "ANDA"
means Abbreviated New Drug Application.

     

    1.13.         "Authorized
Generic" means Alphapharm, as defined above.

     

    1.14.         "Caraco"
means Caraco Pharmaceutical Laboratories, Ltd.

     

    1.15.         "Caraco
ANDA" means ANDA 78-219, as supplemented and amended as of the Effective Date,
as defined below, and further including any Permitted Modification, as defined
below, after the Effective Date.

     

    1.16.         "Control"
or "Controlled" means, with respect to any Licensed Patent, the ownership of
such Licensed Patent by a Party or the possession by a Party of rights
sufficient to grant licenses or sublicenses to such Licensed
Patent.

     

    1.17.         "Court"
means the United States District Court for the Eastern District of
Michigan.

     

    1.18.         "DOJ"
means the Antitrust Division of the Department of Justice.

     

    1.19.         "Effective
Date" means the date on which this document is fully executed, which is July 10,
2009.

     

    1.20.         "FDA"
means United States Food and Drug Administration.

     

    1.21.         "Forest"
means Forest Laboratories, Inc. and Forest Laboratories Holdings, Ltd.,
collectively.

     

    1.22.         "Forest
Product" means the escitalopram oxalate products manufactured or sold for use in
the Territory under NDA 21-323 as of the Effective Date under the trademark
LEXAPRO® (or
any replacement trademark).

     

    1.23.         "FTC"
means the Federal Trade Commission of the United States.

     

    1.24.         "Generic
Product" means the products described by the Caraco ANDA, as defined
above.

     

    1.25.         "Ivax"
means Ivax Pharmaceuticals and its successors in interest and
Affiliates.

    
      
         

      

      
        3

        
          

        

      

      
         

      

    

    THIS
EXHIBIT HAS BEEN REDACTED AND IS THE SUBJECT OF A CONFIDENTIAL TREATMENT
REQUEST.  REDACTED MATERIAL IS MARKED WITH [* * *] AND HAS BEEN FILED
SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION.

     

     

    1.26.         "Launch
Date" means the date that any third party generic enters the market in the
Territory with a generic equivalent of the Forest Product that has received
final approval from the FDA, other than an authorized generic or first-filer
with Hatch Waxman related exclusivity. If and only if:  [***] the License,
as defined below, shall be of no effect from the date [***] until [***]

     

    1.27.         "License"
means the license granted by Section 5.1.

     

    1.28.         "Licensed
Patents" means patents Controlled by Forest or Lundbeck, either now or in the
future, that, but for the License, would be infringed if Caraco and Sun make,
have made, use, sell, offer for sale, or import the Generic Product in or for
the Territory after the Launch Date.  Any assignment or transfer of
any Licensed Patents by Forest or Lundbeck shall be subject to the
License.  Licensed Patents includes, but is not limited to the '712
Patent, the '941 Patent and the '069 Patent.

     

    1.29.         "Lundbeck"
means H. Lundbeck A/S.

     

    1.30.         "Parties"
means Forest, Lundbeck, Caraco and Sun.

     

    1.31.         "Party"
means any one of the Parties, as indicated.

     

    1.32.         "Permitted
Modification" means any modification to ANDA 78-219 as supplemented and amended
as of the Effective Date, as defined above, that does not change the active
ingredient (i.e., use
an additional or different active ingredient), dosage form, indication(s),
reference listed drug or bioequivalence rating of the generic products defined
by said ANDA as of the Effective Date.

     

    1.33.      
  "Stipulations and Orders" means the documents attached hereto as
Exhibits A, B and C, collectively.

     

    1.34.
        "Sun" means Sun Pharmaceutical
Industries Ltd.

     

    1.35.    
    "Territory" means the United States and all of its
territories and possessions, including Puerto Rico.  For purposes of
this Agreement, Territory also includes the manufacture of some or all of the
components or ingredients of the Licensed Product outside the U.S. solely for
purposes of importation into the U.S. for use in the U.S. and its territories
and possessions.

     

    2.       
     Stipulations
And Orders.  In consideration
of the mutual benefits of entering into this Agreement, the Parties shall enter
into and cause to be filed with the Court, subject to Section 6
below:

    
      
         

      

      
        4

        
          

        

      

      
         

      

    

    THIS
EXHIBIT HAS BEEN REDACTED AND IS THE SUBJECT OF A CONFIDENTIAL TREATMENT
REQUEST.  REDACTED MATERIAL IS MARKED WITH [* * *] AND HAS BEEN FILED
SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION.

     

     

    (a)           In
the '712 Patent Action, a stipulation and order dismissing, without prejudice,
all claims, defenses and counterclaims, substantially in the form annexed hereto
as Exhibit A.  If the Court does not grant the Order substantially in
the form annexed hereto as Exhibit A, the Parties agree to confer in good faith
and revise that document consistent with its purpose and the requirements of the
Court.

     

    (b)           In
the '941 Patent Action, a stipulation and order dismissing, without prejudice,
all claims and defenses, substantially in the form annexed hereto as Exhibit
B.  If the Court does not grant the Order substantially in the form
annexed hereto as Exhibit B, the Parties agree to confer in good faith and
revise that document consistent with its purpose and the requirements of the
Court.

     

    (c)           In
the '069 Patent Action, a stipulation and order dismissing, without prejudice,
all claims, defenses and counterclaims, substantially in the form annexed hereto
as Exhibit C.  If the Court does not grant the Order substantially in
the form annexed hereto as Exhibit C, the Parties agree to confer in good faith
and revise that document consistent with its purpose and the requirements of the
court.

     

    3.         
   Other
Agreements.
Contemporaneously with the execution of this Agreement, Forest and Caraco
shall enter into the agreement attached hereto as Exhibit D (the "Inwood
Agreement"), and Lundbeck and Sun shall enter into the agreement attached hereto
as Exhibit E (the "Patent Assignment Agreement").  The Inwood
Agreement shall govern the terms and conditions related to the transfer of
Forest's Inwood products to Caraco.  The Patent Assignment Agreement
shall govern the terms and conditions related to the assignment to Lundbeck of
certain patent applications owned by Sun related to escitalopram.

     

    4.      
      Legal
Fees.  Within ten (10)
days after the Effective Date, in partial consideration of Forest and Lundbeck's
saved legal fees associated with the Actions and Caraco's expended legal fees
associated with the Actions, Forest and Lundbeck shall reimburse [* * *] of Caraco's attorneys'
fees and costs up to a maximum total reimbursement of [* * *].  Caraco
hereby represents and warrants that its attorneys' fees to date have been in
excess of [* *
*].  Thus, [*
* *] of legal fees shall be paid from Forest and Lundbeck to
Caraco.  This payment shall be non-refundable.  Except for
the foregoing, each Party will pay its own legal fees and other costs incurred
in the preparation, conduct and settlement of the Actions.

     

    5.     
       License to Distribute
Generic Product.

     

    5.1           Commercial
License.  Subject to the terms, conditions, and limitations
hereof, Forest and Lundbeck hereby license and sublicense, as the case may be,
on a fully paid-up basis, the Licensed Patents to Caraco and Sun solely for them
to make, have made, use, sell, offer for sale, or import the Generic Product in
or for the Territory as of the Launch Date.  The foregoing license
shall be non-exclusive.  Except to the extent of the assignment
permitted under Section 11, neither Caraco nor Sun shall have the right to
sublicense or assign any of its rights under the License, except for a
sublicense to their respective Affiliates.

    
      
         

      

      
        5

        
          

        

      

      
         

      

    

    THIS
EXHIBIT HAS BEEN REDACTED AND IS THE SUBJECT OF A CONFIDENTIAL TREATMENT
REQUEST.  REDACTED MATERIAL IS MARKED WITH [* * *] AND HAS BEEN FILED
SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION.

     

     

    5.2           Foreign Patents and
Proceedings.  The Parties acknowledge and agree that this
Agreement, and the fact that the Parties have entered into this Agreement and
consummated the transactions contemplated hereby, shall not have any effect
outside the Territory on the assertion of any foreign patents or patent
applications against any foreign counterparts to any Generic
Product.  The Parties hereby agree that neither this Agreement nor
those facts may be proffered, or be referred to in any testimonial or other
evidence, by any Party or any of their respective Affiliates at any trial,
action or other proceedings outside the Territory regarding the assertion of any
foreign patents or patent applications against any foreign counterparts to any
Generic Product.  Nothing herein shall be construed as an admission or
waiver as to any factual or legal matter by any Party or their respective
Affiliates with respect to any jurisdiction outside of the
Territory.

     

    5.3           Regulatory
Matters.

     

    (a)           Forest
and Lundbeck (for themselves and their Affiliates) hereby grant to Caraco and
Sun and their Affiliates a fully paid-up license or waiver (as applicable) under
any regulatory exclusivities that would apply to the Generic Product from and
after the Launch Date (including any applicable pediatric
exclusivities).  Such license or waiver shall be of the same scope and
duration as the License contained in Section 5.1.

     

    (b)           Forest
and Lundbeck shall execute such further documents or notices as Caraco may
reasonably request to further confirm the grant of the License contained in
Section 5.1 and/or the license or waiver contained in Section
5.3(a).

     

    (c)           Subject
to Caraco and Sun's compliance with the terms of this Agreement, Forest and
Lundbeck shall not initiate any activity directly or indirectly (such as by way
of Citizen's Petition) against Caraco or Sun related to the Generic Product to
interfere with Caraco's efforts to:  (i) obtain FDA approval of the
Caraco ANDA; or (ii) launch the Generic Product from and after the Launch
Date.  Nothing set forth in this Agreement shall be construed as a
representation by Forest or Lundbeck that the FDA or any other applicable
regulatory authority will or should approve of Caraco marketing a product
incorporating escitalopram oxalate in the Territory.

     

    (d)           The
Generic Product shall be manufactured by or on behalf of Sun or Caraco in
substantial accordance with current Good Manufacturing Practices ("GMPs")
regulations promulgated by the FDA, as further defined by FDA guidance
documents.

    
      
         

      

      
        6

        
          

        

      

      
         

      

    

    THIS
EXHIBIT HAS BEEN REDACTED AND IS THE SUBJECT OF A CONFIDENTIAL TREATMENT
REQUEST.  REDACTED MATERIAL IS MARKED WITH [* * *] AND HAS BEEN FILED
SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION.

     

     

    (e)           Forest
and Lundbeck shall take reasonable steps, including cooperating with any
necessary FDA submissions, to help ensure Caraco's market entry in the Territory
with the Generic Product on the Launch Date.

     

    (f)           Forest
and Lundbeck agree that, regardless of whether they continue to sell the Forest
Product, they will not request that the FDA rescind its approval of all of the
existing indications (as of the Effective Date) for the Forest Product unless
required by law to do so.

    

    5.4           Covenants.

     

    (a)           Except
to the extent of the License, neither Caraco, Sun nor any of their respective
Affiliates shall under any circumstances:  (a) offer to sell or sell
in the Territory any Generic Product prior to the Launch Date; or (b) knowingly
and voluntarily aid, abet, enable or contract with any third party regarding the
marketing in the Territory of any Generic Product prior to the Launch
Date.

     

    (b)           Neither
Forest, Lundbeck nor any of their respective Affiliates shall under any
circumstances enter into an agreement with Ivax to delay the lawful market entry
of a generic equivalent of the Forest Product.  Nothing in this
Agreement, however, shall prevent Lundbeck, Forest or any of their respective
Affiliates from enforcing any of their patent rights against Ivax or entering
into any settlement agreements (which may have provisions related to Ivax's
generic entry), as necessary, to resolve disputes associated with such
enforcement.

     

    (c)           Forest
and Lundbeck covenant not to sue Caraco and/or Sun for their use of the Licensed
Patents after the Launch Date in connection with the Generic
Product.  Caraco and Sun covenant not to challenge any of the Licensed
Patents in connection with the Generic Product.

     

    6.             Legal
Compliance.  The Parties shall
submit this Agreement to the appropriate personnel at the Agencies for review
under Section 1112 of the Medicare Prescription Drug Improvement and
Modernization Act of 2003, as soon as practicable after the Effective Date and
in no event later than three (3) days after the Effective Date.

    
      
         

      

      
        7

        
          

        

      

      
         

      

    

    THIS
EXHIBIT HAS BEEN REDACTED AND IS THE SUBJECT OF A CONFIDENTIAL TREATMENT
REQUEST.  REDACTED MATERIAL IS MARKED WITH [* * *] AND HAS BEEN FILED
SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION.

     

     

    (a)           If,
within forty (40) days of receipt of this Agreement by the Agencies, any Agency
objects to, responds to, or otherwise comments on such submission, the Parties
shall use commercially reasonable efforts to address or resolve such objection,
response or comment provided that there
shall be no material change to the rights and obligations of the Parties under
this Agreement, except as the Parties may mutually agree.  These
efforts to address or resolve any such objection, response or comment shall
continue for a period of not more than thirty (30) days from when the objection,
response or comment is first raised, unless the Parties mutually agree to extend
that period.  During that thirty (30) day period or agreed extension,
all obligations under this Agreement (except for the payment of legal fees under
Section 4 above), the Inwood Agreement, and the Patent Assignment Agreement
shall be temporarily suspended while the Parties engage in commercially
reasonable and good-faith efforts to address or resolve any such objection,
response or comment.  If, despite such commercially reasonable
efforts, the Parties are unable to address or resolve any such objection,
response or comment during that thirty (30) day period or agreed extension, the
Parties shall promptly return to the Court and jointly seek the earliest
possible trial date for which lead counsel is available (but starting no later
than thirty (30) days from the date of the request, regardless of the trial
schedules of lead counsel, if the Court's schedule allows; if the Court's
schedule does not allow for a trial within thirty (30) days, then as quickly
thereafter as the Court is available, regardless of the trial schedules of lead
counsel).  In that event, except for the legal fees paid pursuant to
Section 4 above, the Parties shall take all commercially reasonable steps to
return the Parties to the position they were in before signing this Agreement,
including without limitation the return by Sun of any payment by Lundbeck under
the Patent Assignment Agreement.  Upon accomplishing this return, this
Agreement shall terminate.

     

    (b)           If
there is no objection from any Agency within forty (40) days of receipt of this
Agreement, or if an objection is received and the Parties address or resolve the
objection, all obligations in this Agreement shall be in
force.  Within three (3) days of that date, or within three (3) days
of the closing of the transaction referenced in the Inwood Agreement, whichever
is later, the Parties shall file the Stipulations and Orders described in
Section 2 above.

     

    (c)           If,
after forty (40) days of receipt of this Agreement by the Agencies, any Agency
objects to, responds to, or otherwise comments on such submission, the Parties
shall use commercially reasonable efforts to address or resolve such objection,
response or comment, provided that there
shall be no material change to the rights and obligations of the Parties under
this Agreement, except as the Parties may mutually agree.  If, despite
such commercially reasonable efforts, the Parties are unable to address or
resolve any such objection, response or comment, the Parties may mutually agree
to return the Parties to the position they were in before the signing of this
Agreement (except for the payment of legal fees under Section 4
above).  If such a return is accomplished, this Agreement shall
terminate.  If such mutual agreement to return is reached, any Party
shall have the right to reinitiate the '712 Action, the '941 Action, and/or the
'069 Action, and the Parties shall promptly return to Court in any such
reinitiated action and jointly seek the earliest possible scheduling conference
for each such action.

     

    For
purposes of this Agreement, "commercially reasonable efforts" shall mean the
reasonable, diligent and good-faith efforts as such Party would normally use to
accomplish a similar objective under similar circumstances.

    
      
         

      

      
        8

        
          

        

      

      
         

      

    

    THIS
EXHIBIT HAS BEEN REDACTED AND IS THE SUBJECT OF A CONFIDENTIAL TREATMENT
REQUEST.  REDACTED MATERIAL IS MARKED WITH [* * *] AND HAS BEEN FILED
SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION.

     

     

    7.          
  Released
Claims.  In addition to
the dismissal of the Actions, as set forth in the Stipulations And Orders,
Forest and Lundbeck, and Caraco and Sun, make the following releases, which
shall be effective upon the grant of the last of the Stipulations And Orders by
the Court in the Actions:

     

    (a)            Caraco
and Sun for themselves and their respective Affiliates hereby irrevocably
release and discharge Forest and Lundbeck and their respective Affiliates,
successors, assigns, directors, officers, employees, agents and customers from
all causes of action, demands, claims, damages and liabilities of any nature,
whether known or unknown, arising between Caraco, Sun and/or any of their
respective Affiliates, on the one hand, and Forest, Lundbeck and/or any of their
respective Affiliates, on the other hand, from or in connection with the Actions
or the Caraco ANDA, occurring prior to the Effective Date of this Agreement,
including, without limitation, all claims that Caraco and Sun have asserted or
could have asserted in the Actions or in any judicial proceeding that the '712
Patent, the '941 Patent and/or the '069 Patent are somehow invalid,
unenforceable or not infringed by the sale of the generic escitalopram oxalate
products that are the subject of the Caraco ANDA in the Territory (all of the
above collectively, the "Caraco Released Claims");

     

    (b)            Forest
and Lundbeck for themselves and their respective Affiliates hereby irrevocably
release and discharge Caraco and Sun and their respective Affiliates,
successors, assigns, directors, officers, employees, agents, distributors,
suppliers and customers from all causes of action, demands, claims, damages and
liabilities of any nature, whether known or unknown, arising between Forest,
Lundbeck and/or any of their respective Affiliates, on the one hand, and Caraco,
Sun and/or any of their respective Affiliates, on the other hand, from or in
connection with the Actions or the Caraco ANDA, occurring prior to the Effective
Date of this Agreement, including, without limitation, all claims that Forest
and Lundbeck have asserted or could have asserted in the Actions or in any
judicial proceeding that the '712 Patent, the '941 Patent and/or the '069 Patent
are infringed by the sale of the generic escitalopram oxalate products that are
the subject of the Caraco ANDA in the Territory (all of the above collectively,
the "Forest Released Claims");

     

    (c)            this
Agreement shall constitute a final settlement of the Actions by the Parties,
subject to the possibility the Actions are reinstituted under Section
6;

     

    (d)            Caraco
and Sun shall not release, to the extent there is a release provision or
control, any agent or consultant retained by Caraco and Sun (whether retained
for Caraco and Sun's benefit by Caraco and Sun or by any Caraco and Sun
attorney) to assist or cooperate with any litigant in any litigation against
Forest and Lundbeck with respect to the '712 Patent, the '941 Patent and/or the
'069 Patent regarding any Forest Product.  Similarly, in any such
action Caraco and Sun shall not release any attorney who represented Caraco and
Sun in the Actions from maintaining the confidentiality of non-public
information to which such attorney had access in connection with the Actions or
grant any waivers with respect to such maintenance unless so ordered by the
Court or compelled by law.  Nothing in this Agreement shall prohibit
Sun and Caraco from using agents, consultants or attorneys in any way should the
Actions be reinstituted under Section 6 or for attorneys to represent other
clients regarding the same patents;

    
      
         

      

      
        9

        
          

        

      

      
         

      

    

    THIS
EXHIBIT HAS BEEN REDACTED AND IS THE SUBJECT OF A CONFIDENTIAL TREATMENT
REQUEST.  REDACTED MATERIAL IS MARKED WITH [* * *] AND HAS BEEN FILED
SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION.

     

     

    (e)            to
the extent necessary, Caraco and Sun shall permit and cooperate with Forest and
Lundbeck to enforce the obligations of such agents, consultants or attorneys
referred to under Section 7(d) herein; and

     

    (f)   
        nothing in this Agreement shall
prohibit any Party from challenging or enforcing any patent (including any of
the Licensed Patents) in connection with a product other than the Generic
Product.

     

    8.    
        ACKNOWLEDGMENTS.  Caraco and Sun,
and Forest and Lundbeck, acknowledge as follows:

     

    (a)           CARACO
AND SUN ACKNOWLEDGE THAT THEY MAY HEREAFTER DISCOVER CLAIMS OR FACTS IN ADDITION
TO OR DIFFERENT FROM THOSE WHICH THEY NOW KNOW OR BELIEVE TO EXIST WITH RESPECT
TO THE CARACO RELEASED CLAIMS, THE FACTS AND CIRCUMSTANCES ALLEGED IN THE
ACTIONS, AND/OR THE SUBJECT MATTER OF THIS AGREEMENT, WHICH, IF KNOWN OR
SUSPECTED AT THE TIME OF EXECUTING THIS AGREEMENT, MAY HAVE MATERIALLY AFFECTED
THIS AGREEMENT.  NEVERTHELESS, UPON THE EFFECTIVENESS OF THE RELEASE
OF THE CARACO RELEASED CLAIMS AS SET FORTH IN SECTION 7 ABOVE, CARACO AND SUN
HEREBY ACKNOWLEDGE THAT THE CARACO RELEASED CLAIMS INCLUDE WAIVERS OF ANY
RIGHTS, CLAIMS OR CAUSES OF ACTION THAT MIGHT ARISE AS A RESULT OF SUCH
DIFFERENT OR ADDITIONAL CLAIMS OR FACTS.  CARACO AND SUN ACKNOWLEDGE
THAT THEY UNDERSTAND THE SIGNIFICANCE AND POTENTIAL CONSEQUENCES OF SUCH A
RELEASE OF UNKNOWN UNITED STATES JURISDICTION CLAIMS AND OF SUCH A SPECIFIC
WAIVER OF RIGHTS.  CARACO AND SUN INTEND THAT THE CLAIMS RELEASED BY
THEM UNDER THIS RELEASE BE CONSTRUED AS BROADLY AS POSSIBLE TO THE EXTENT THEY
RELATE TO UNITED STATES JURISDICTION CLAIMS.  CARACO AND SUN ARE AWARE
OF CALIFORNIA CIVIL CODE SECTION 1542, WHICH PROVIDES AS FOLLOWS:

     

    "A
general release does not extend to claims which the creditor does not know or
suspect to exist in his or her favor at the time of executing the release, which
if known by him or her, must have materially affected his or her settlement with
the debtor."

    
      
         

      

      
        10

        
          

        

      

      
         

      

    

    THIS
EXHIBIT HAS BEEN REDACTED AND IS THE SUBJECT OF A CONFIDENTIAL TREATMENT
REQUEST.  REDACTED MATERIAL IS MARKED WITH [* * *] AND HAS BEEN FILED
SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION.

     

     

    CARACO
AND SUN AGREE TO EXPRESSLY WAIVE ANY RIGHTS THEY MAY HAVE UNDER THIS CODE
SECTION OR UNDER FEDERAL, STATE OR COMMON LAW STATUTES OR JUDICIAL DECISIONS OF
A SIMILAR NATURE, AND KNOWINGLY AND VOLUNTARILY WAIVE SUCH UNKNOWN CARACO
RELEASED CLAIMS.

     

    (b)           FOREST
AND LUNDBECK ACKNOWLEDGE THAT THEY MAY HEREAFTER DISCOVER CLAIMS OR FACTS IN
ADDITION TO OR DIFFERENT FROM THOSE WHICH THEY NOW KNOW OR BELIEVE TO EXIST WITH
RESPECT TO THE FOREST RELEASED CLAIMS, THE FACTS AND CIRCUMSTANCES ALLEGED IN
THE ACTIONS, AND/OR THE SUBJECT MATTER OF THIS AGREEMENT, WHICH, IF KNOWN OR
SUSPECTED AT THE TIME OF EXECUTING THIS AGREEMENT, MAY HAVE MATERIALLY AFFECTED
THIS AGREEMENT.  NEVERTHELESS, UPON THE EFFECTIVENESS OF THE RELEASE
OF THE FOREST RELEASED CLAIMS AS SET FORTH IN SECTION 7 ABOVE, FOREST AND
LUNDBECK HEREBY ACKNOWLEDGE THAT THE FOREST RELEASED CLAIMS INCLUDE WAIVERS OF
ANY RIGHTS, CLAIMS OR CAUSES OF ACTION THAT MIGHT ARISE AS A RESULT OF SUCH
DIFFERENT OR ADDITIONAL CLAIMS OR FACTS.  FOREST AND LUNDBECK
ACKNOWLEDGE THAT THEY UNDERSTAND THE SIGNIFICANCE AND POTENTIAL CONSEQUENCES OF
SUCH A RELEASE OF UNKNOWN UNITED STATES JURISDICTION CLAIMS AND OF SUCH A
SPECIFIC WAIVER OF RIGHTS.  FOREST AND LUNDBECK INTEND THAT THE CLAIMS
RELEASED BY THEM UNDER THIS RELEASE BE CONSTRUED AS BROADLY AS POSSIBLE TO THE
EXTENT THEY RELATE TO UNITED STATES JURISDICTION CLAIMS.  FOREST AND
LUNDBECK ARE AWARE OF CALIFORNIA CIVIL CODE SECTION 1542, WHICH PROVIDES AS
FOLLOWS:

     

    "A
general release does not extend to claims which the creditor does not know or
suspect to exist in his or her favor at the time of executing the release, which
if known by him or her, must have materially affected his or her settlement with
the debtor."

     

    FOREST
AND LUNDBECK AGREE TO EXPRESSLY WAIVE ANY RIGHTS THEY MAY HAVE UNDER THIS CODE
SECTION OR UNDER FEDERAL, STATE OR COMMON LAW STATUTES OR JUDICIAL DECISIONS OF
A SIMILAR NATURE, AND KNOWINGLY AND VOLUNTARILY WAIVE SUCH UNKNOWN FOREST
RELEASED CLAIMS.

    
      
         

      

      
        11

        
          

        

      

      
         

      

    

    THIS
EXHIBIT HAS BEEN REDACTED AND IS THE SUBJECT OF A CONFIDENTIAL TREATMENT
REQUEST.  REDACTED MATERIAL IS MARKED WITH [* * *] AND HAS BEEN FILED
SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION.

     

     

    9.       
     Confidentiality.  The terms of this
Agreement shall be maintained in confidence by all of the Parties except
that:  (i) the press release to be issued by Forest in connection with
the Agreement is set forth on Part A of Exhibit F, the press release to be
issued by Lundbeck in connection with this Agreement is set forth on Part B of
Exhibit F, the press release to be issued by Caraco in connection with this
Agreement is set forth on Part C of Exhibit F, and the press release to be
issued by Sun in connection with this Agreement is set forth on Part D of
Exhibit F; (ii) Forest and Lundbeck may disclose such terms as may be necessary
or useful in connection with any anticipated, pending or actual patent
litigation or other legal proceeding with a third party in the Territory
relating to any of the Licensed Patents; and (iii) as otherwise required by law,
including without limitation United States Securities and Exchange Commission
reporting requirements, or by the rules or regulations of any stock exchange to
which any of the Parties are subject.

     

    10.           Term and
Termination.  Unless terminated
earlier under Section 6, this Agreement shall continue from the Effective Date
until the expiration of the last to expire of the Licensed
Patents.  The releases and discharges set forth in Section 7 of this
Agreement shall survive the expiration of this Agreement, but shall terminate in
connection with any earlier termination of this Agreement under Section
6.  The confidentiality obligations set forth in Section 9 shall
survive and continue from the Effective Date until the expiration of the last to
expire of the Licensed Patents, notwithstanding any earlier expiration or
termination of this Agreement.

     

    If any Party believes that another
Party has breached this Agreement, it shall specify such breach in a written
notice and the breaching Party shall have fourteen (14) days to remedy any such
breach prior to the initiation of arbitration or litigation, except with respect
to any sale or offer to sell the Generic Product in the Territory prior to the
Launch Date, which shall have no such notice or cure period.

     

    11.           No
Assignment.  This Agreement
may not be assigned or transferred to a third party without the express prior
written consent of the other Parties hereto, except to a successor to all or
substantially all of the business of the assigning or transferring Party to
which this Agreement pertains (whether by sale of stock, merger, consolidation
or otherwise), in which case the Party shall assign this Agreement to such
successor, provided that a Party may in the ordinary course of its business
assign its rights under this Agreement to an Affiliate or may transfer the
rights under this Agreement from one Affiliate to another without the prior
consent of the other Party.  The covenants, rights and obligations of
a Party under this Agreement shall remain binding upon the assigning or
transferring Party and shall inure to the benefit of and be binding upon any
successor or permitted assignee of the Party.

    
      
         

      

      
        12

        
          

        

      

      
         

      

    

    THIS
EXHIBIT HAS BEEN REDACTED AND IS THE SUBJECT OF A CONFIDENTIAL TREATMENT
REQUEST.  REDACTED MATERIAL IS MARKED WITH [* * *] AND HAS BEEN FILED
SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION.

     

     

    12.           Notice.  Any notice
required or permitted to be given or sent under this Agreement shall be hand
delivered or sent by express delivery service or certified or registered mail,
postage prepaid, to the Parties at the addresses indicated below.

     

    
      	
               
      

            	
              If
      to Forest, to:

            	
              Charles
      S. Ryan

            

    

    Vice
President, Chief Intellectual Property Counsel

    Forest
Research Institute, Inc.

    909 Third
Avenue

    New York,
NY  10022

    

    
      	
               
      

            	
              with
      copies to:

            	
              Peter
      J. Armenio

            

    

    Kirkland &
Ellis LLP

    601
Lexington Avenue

    New York,
New York  10022

    

    
      	
               
      

            	
              If
      to Lundbeck, to:

            	
              John
      Meidahl Petersen

            

    

    Director,
Corporate Patents

    H.
Lundbeck A/S

    Ottiliavej
9

    DK-2500
Valby

    Copenhagen,
Denmark

    

    
      	
               
      

            	
              with
      copies to:

            	
              Peter
      J. Armenio

            

    

    Kirkland &
Ellis LLP

    601
Lexington Avenue

    New York,
New York  10022

    

    
      	
               
      

            	
              If
      to Caraco, to:

            	
              Daniel
      Movens

            

    

    Chief
Executive Officer

    Caraco
Pharmaceutical Laboratories Ltd.

    1150
Elijah McCoy Drive

    Detroit,
Michigan  48202

    

    
      	
               
      

            	
              with
      copies to:

            	
              Derek
      J. Sarafa

            

    

    Winston &
Strawn LLP

    35 West
Wacker Drive

    Chicago,
Illinois  60601

    
      
         

      

      
        13

        
          

        

      

      
         

      

    

    THIS
EXHIBIT HAS BEEN REDACTED AND IS THE SUBJECT OF A CONFIDENTIAL TREATMENT
REQUEST.  REDACTED MATERIAL IS MARKED WITH [* * *] AND HAS BEEN FILED
SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION.

     

     

    
      	
               
      

            	
              If
      to Sun, to:

            	
              Arshad
      Jamil

            

    

    General
Counsel

    Sun
Pharmaceutical Industries Ltd.

    Acme
Plaza

    Andheri -
Kurla Rd, Andheri (E)

    Mumbai -
400 059

    

    
      	
               
      

            	
              with
      copies to:

            	
              Derek
      J. Sarafa

            

    

    Winston &
Strawn LLP

    35 West
Wacker Drive

    Chicago,
Illinois  60601

    

    Any such
notice shall be deemed to have been received on the date actually
received.  Any Party may change its address by giving the other Party
written notice, delivered in accordance with this Section.

     

    13.           Entire
Agreement.  This Agreement,
as defined herein to include Exhibits A through F, constitutes the complete,
final and exclusive agreement between the Parties with respect to the subject
matter hereof and supersedes and terminates any prior or contemporaneous
agreements and/or understandings between the Parties, whether oral or in
writing, relating to such subject matter.  There are no covenants,
promises, agreements, warranties, representations, conditions or understandings,
either oral or written, between the Parties other than as are set forth in this
Agreement.  No subsequent alteration, amendment, change, waiver or
addition to this Agreement shall be binding upon the Parties unless reduced to
writing and signed by an authorized officer of each Party.  Each Party
in deciding to execute this Agreement has retained counsel and has not relied on
any understanding, agreement, representation or promise by the other Party that
is not explicitly set forth herein.

     

    14.           Governing
Law.  This Agreement
shall be governed, interpreted and construed in accordance with the laws of the
State of Illinois, without giving effect to choice of law
principles.   The Parties hereto agree that any disputes arising
with respect to the interpretation or enforcement of any provision hereof shall
be submitted to arbitration in Chicago, Illinois, or such other location as may
be mutually agreed by the Parties, in accordance with the then existing
Commercial Arbitration Rules of the American Arbitration
Association.  Such arbitration shall be conducted before a panel of
three arbitrators, one chosen by Forest and Lundbeck, one chosen by Caraco and
Sun, and the third chosen by such other two arbitrators.  The award or
decision of a majority of the arbitrators pursuant to this Section 14 shall be
binding and conclusive on the Parties, provided that the enforcement of such
award or decision may be obtained in any court having jurisdiction over the
Party against whom such enforcement is sought.  The losing party shall
pay all reasonable attorneys fees and costs associated with such
arbitration.

    
      
         

      

      
        14

        
          

        

      

      
         

      

    

    THIS
EXHIBIT HAS BEEN REDACTED AND IS THE SUBJECT OF A CONFIDENTIAL TREATMENT
REQUEST.  REDACTED MATERIAL IS MARKED WITH [* * *] AND HAS BEEN FILED
SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION.

     

     

    Notwithstanding
the preceding, nothing set forth herein shall be deemed to preclude either Party
from seeking appropriate judicial injunctive relief in any Court of competent
jurisdiction with respect to the provisions of Section 9 hereof or the
enforcement of any other provision hereunder the breach of which would cause
irreparable harm to the other Party and which would not have an adequate remedy
at law.  If there is any dispute that is not subject to arbitration
and for which the United States District Court for the Northern District of
Illinois does not have subject matter jurisdiction, the state courts in Illinois
shall have jurisdiction.  In connection with any dispute arising out
of or in connection with this Agreement that is not subject to arbitration, each
Party hereby expressly consents and submits to the personal jurisdiction of the
federal and state courts in the State of Illinois.

     

    15.           Severability.  Subject to the
provisions and the mechanisms of Section 6 above, if any provision of this
Agreement is declared illegal, invalid or unenforceable by a court having
competent jurisdiction, it is mutually agreed that this Agreement shall endure
except for the part declared invalid or unenforceable by order of such court;
provided, however, that in the event that the terms and conditions of this
Agreement are materially altered, the Parties will, in good faith, renegotiate
the terms and conditions of this Agreement in an effort to reasonably replace
such invalid or unenforceable provisions in light of the intent of this
Agreement.

     

    16.           Waiver.  Any delay or
failure in enforcing a Party's rights under this Agreement, or any acquiescence
as to a particular default or other matter, shall not constitute a waiver of
such Party's rights to the enforcement of such rights, nor operate to bar the
exercise or enforcement thereof at any time or times thereafter, except as to an
express written and signed waiver as to a particular matter for a particular
period of time.

     

    17.           Counterparts.  This Agreement
shall become binding when any one or more counterparts hereof, individually or
taken together, bears the signatures of each of the Parties
hereto.  This Agreement may be executed in any number of counterparts
(including facsimile or electronic counterparts), each of which shall be an
original as against a Party whose signature appears thereon, but all of which
taken together shall constitute one and the same instrument.

     

    18.           Representations
and Warranties.
The Parties hereby represent and warrant that:  (a) they have
approved the execution of this Agreement and have authorized and directed the
signatory officers below to execute and deliver this Agreement; (b) they each
have the full right and power to enter into this Agreement, and there are no
other persons or entities whose consent or joinder in this Agreement is
necessary to make fully effective those provisions of this Agreement that
obligate, burden or bind either of them; (c) when so executed by each Party,
this Agreement shall constitute a valid and binding obligation of such Party,
enforceable in accordance with its terms; and (d) they have not transferred or
assigned or pledged to any third party, whether or not Affiliated, the right to
bring, pursue or settle any of the claims, counterclaims or demands made in the
Actions.  Forest and Lundbeck further represent that they are not
aware of any pending claim by a third party of incorrect ownership, invalidity
or unenforceability asserted against the Licensed Patents.  Sun and
Caraco further represent that they are not aware of any pending claim by a third
party of patent infringement asserted against the Generic
Product.

    
      
         

      

      
        15

        
          

        

      

      
         

      

    

    THIS
EXHIBIT HAS BEEN REDACTED AND IS THE SUBJECT OF A CONFIDENTIAL TREATMENT
REQUEST.  REDACTED MATERIAL IS MARKED WITH [* * *] AND HAS BEEN FILED
SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION.

     

     

    19.           Costs.  Except as
otherwise stated in this Agreement, each Party shall bear its own costs,
expenses and taxes in the performance of this Agreement.

     

    20.           Construction. This Agreement has been
jointly negotiated and drafted by the Parties through their respective counsel
and no provision shall be construed or interpreted for or against any of the
Parties on the basis that such provision, or any other provision, or this
Agreement as a whole, was purportedly drafted by the particular
Party.  All references to periods of days for taking certain actions
in this Agreement shall be construed in the same manner they are construed in
the Federal Rules of Civil Procedure.

     

    *           *           *           *           *

    
      
         

      

      
        16

        
          

        

      

      
         

      

    

    THIS
EXHIBIT HAS BEEN REDACTED AND IS THE SUBJECT OF A CONFIDENTIAL TREATMENT
REQUEST.  REDACTED MATERIAL IS MARKED WITH [* * *] AND HAS BEEN FILED
SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION.

     

    IN WITNESS WHEREOF, this
Agreement has been executed by the duly authorized representatives of the
Parties.

     

    
      	
              FOREST
      LABORATORIES, INC.

            	
              FOREST
      LABORATORIES HOLDINGS, LTD.

            
	 
      	 
      	 
      	 
      	 
      	 
      
	
              By:

            	
              /s/ Howard Solomon

            	 
      	
              By:

            	
              /s/ Howard Solomon

            	 
      
	
              Name:

            	
              Howard
      Solomon

            	
              Name:

            	
              Howard
      Solomon

            
	
              Title:

            	
              Chief
      Executive Officer

            	
              Title:

            	
              Chief
      Executive Officer

            
	 
      	 
      	 
      	 
      	 
      	 
      
	
              H.
      LUNDBECK A/S

            	 
      	 
      	 
      
	 	 	 	 
	
              By:

            	
              /s/ Ulf Wiinberg

            	 
      	 
      	 
      	 
      
	
              Name:

            	
              Ulf
      Wiinberg

            	 
      	 
      	 
      
	
              Title:

            	
              Chief
      Executive Officer

            	 
      	 
      	 
      
	 
      	 
      	 
      	 
      	 
      	 
      
	
              CARACO
      PHARMACEUTICAL

            	
              SUN
      PHARMACEUTICAL

            
	
              LABORATORIES,
      LTD.

            	
              INDUSTRIES
      LTD.

            
	 
      	 
      	 
      	 
      	 
      	 
      
	
              By:

            	
              /s/ Daniel H. Movens

            	 
      	
              By:

            	
              /s/ Dilip Shanghvi

            	 
      
	
              Name:

            	
              Daniel
      H. Movens

            	
              Name:

            	
              Dilip
      Shanghvi

            
	
              Title:

            	
              Chief
      Executive Officer

            	
              Title:

            	
              Chairman
      and Managing Director

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