Document:

EXHIBIT 10.1

                   SOUTHWEST GEORGIA FINANCIAL CORPORATION

                            PENSION RETIREMENT PLAN

                           As Amended And Restated,

                            Effective March 1, 2005

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                               TABLE OF CONTENTS

ARTICLE I    CONSTRUCTION AND DEFINITIONS                                     2

ARTICLE II   MEMBERSHIP IN THE RETIREMENT PLAN                               12

    2.1       Initial Membership                                             12
    2.2       Resumption of Membership                                       12
    2.3       Termination                                                    12
    2.4       Membership Requirement Effective as of May 1, 1999             12
    2.5       Qualified Military Services                                    12
    2.6       Moultrie Insurance Agency Membership                           12
    2.7       Waiver of Participation                                        12
    2.8       Empire Financial Services, Inc. Membership                     13
    2.9       Sylvester Banking Company Membership                           13
    2.10      Sylvester Banking Company Pension Plan                         13

ARTICLE III  MONTHLY RETIREMENT INCOME                                       14

    3.1       General                                                        14
    3.2       Normal Retirement.                                             14
    3.3       Late Retirement                                                17
    3.4       Early Retirement                                               18
    3.5       Disability Retirement                                          18
    3.6       Method of Payment of Retirement Benefits.                      19
    3.7       Suspension Of Benefits                                         21

ARTICLE IV   DEATH BENEFITS                                                  22

    4.1       Incidental Death Benefits for Eligible Spouse.                 22
    4.2       No Death Benefits in Absence of Surviving Eligible Spouse      23

ARTICLE V    VESTING AND TERMINATION OF EMPLOYMENT                           24

    5.1       Vested Interest                                                24
    5.2       Method of Payment of Benefits to Member Separating from
               Service before Retirement Date                                24
    5.3       Lump Sum Cash-Out Distribution                                 25
    5.4       Buy-Back                                                       25
    5.5       Determination Of Present Value                                 26

ARTICLE VI   LIMITATIONS ON BENEFITS, NON-DISTRIBUTION ALIENATION AND
             ASSIGNMENT, AND RIGHTS OF MEMBERS                               27

    6.1       Limitation on Benefits.                                        27
    6.2       Special Rules for Benefits Payable to Highly
               Compensated Employees.                                        32
    6.3       No Assignment of Benefits                                      33
    6.4       Commencement of Benefits                                       33

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    6.5       Reversion                                                      34

ARTICLE VII  CONTRIBUTIONS BY THE EMPLOYER                                   35

    7.1       Employer Contributions                                         35
    7.2       Funding and Investment Policy                                  35
    7.3       Payment of Expenses                                            35

ARTICLE VIII AMENDMENT AND TERMINATION OF PLAN                               36

    8.1       Right to Amend                                                 36
    8.2       Right to Terminate                                             36
    8.3       Allocation upon Termination                                    36
    8.4       Vesting upon Termination or Partial Termination                36
    8.5       Distributions upon Termination                                 36
    8.6       Reversions upon Termination                                    37

ARTICLE IX   PLAN ADMINISTRATOR                                              38

    9.1       Designation                                                    38
    9.2       Compensation and Records                                       38
    9.3       Duties and Powers; Claims Review Procedures                    38
    9.4       Authorization of Payments                                      40
    9.5       No Discrimination                                              40
    9.6       Retention of Agents                                            40

ARTICLE X    THE TRUST FUND AND TRUSTEE                                      41

   10.1       General                                                        41
   10.2       Disposition of Trust Fund                                      41
   10.3       Right of Removal                                               41
   10.4       Powers of Trustee                                              41
   10.5       Interest-Bearing Deposit With Employer                         41
   10.6       Integration of Trust Agreement                                 41

ARTICLE XI   MISCELLANEOUS PROVISIONS                                        42

   11.1       Prohibition Against Diversion                                  42
   11.2       Prudent Man Rule                                               42
   11.3       Responsibilities of Parties                                    42
   11.4       Reports Furnished Members                                      42
   11.5       Reports Available to Members                                   42
   11.6       Reports Upon Request                                           43
   11.7       Merger or Consolidation of Employer                            43
   11.8       Plan Continuance Voluntary                                     43
   11.9       Suspension of Contributions                                    43
   11.10      Agreement Not An Employment Contract                           43
   11.11      Facility of Payments                                           43
   11.12      Unclaimed Benefits                                             44
   11.13      Governing Law                                                  44

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   11.14      Headings No Part of Agreement                                  44
   11.15      Merger or Consolidation of Plan                                44
   11.16      Indemnification                                                45
   11.17      Direct Transfer of Eligible Rollover Distributions.            45
ARTICLE XII  TOP-HEAVY PROVISIONS                                            47
   12.1       Application                                                    47
   12.2       Definitions.                                                   47
   12.3       Accrual of Minimum Benefit                                     47
   12.4       Vesting                                                        48
   12.5       Post-EGTRRA Top-Heavy Provisions.                              48

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                   SOUTHWEST GEORGIA FINANCIAL CORPORATION
                            PENSION RETIREMENT PLAN

THIS AMENDMENT AND RESTATEMENT is entered into effective as of the 21st day of
December, 2005, by and between SOUTHWEST GEORGIA FINANCIAL CORPORATION, a
holding company organized under the laws of the State of Georgia (referred to
herein as the "Employer"), and SOUTHWEST GEORGIA BANK, (referred to herein as
the "Trustee").

                             W I T N E S S E T H:

Effective January 1, 1976, the Plan was established by the Employer to assist
its Employees in providing a life income for their support after they have
retired from the employment of the Employer.

Effective as of January 1, 2000, the Plan was amended and restated to conform
to the provisions of the Internal Revenue Code of 1986, as amended (the
"Code"), the Employee Retirement Income Security Act of 1974 ("ERISA"), the
pension provisions of the General Agreement on Tariffs and Trade ("GATT");
the Uniformed Services Employment and Reemployment Rights Act of 1994
("USERRA"), the Small Business Job Protection Act of 1996 ("SBJPA"), the Tax
Reform Act of 1997 ("TRA '97"), the Internal Revenue Restructuring and Reform
Act of 1998, and the Community Renewal Tax Relief Act of 2000.

The Employer now desires to amend and restate the Plan, effective as of
March 1, 2005, to incorporate the prior amendments to the Plan and for
certain other purposes.  The provisions of this amendment and restatement of
the Plan shall apply only to those eligible employees who terminate
employment with the Employer on or after March 1, 2005, or such later date as
may apply for a provision which becomes effective afterwards.  Benefits
payable to or on behalf of a Member who terminates employment prior to
March 1, 2005 shall not be affected by the terms of any Plan amendment
adopted after such Member's termination of employment, unless the amendment
provides otherwise.

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                                  ARTICLE I

                         CONSTRUCTION AND DEFINITIONS

Any words herein used in the masculine shall be read and construed in the
feminine where appropriate.  Words in the singular shall be read and
construed as though used in the plural in all cases where the context so
requires.

As used herein, the following words and phrases shall have the meanings
specified below, unless a different meaning is plainly required by the
context:

1.1  The term "Accrued Benefit" as of any date shall be, in the case of a
Member who is credited with at least one (1) Hour of Service on or after
January 1, 1988, equal to the Monthly Retirement Income calculated pursuant to
Section 3.2(b), 3.2(c), or 3.2(d) (using his Average Monthly Earnings as of
the date of calculation).  In no event, however, shall any Member's Accrued
Benefit as of:

  (a)  January 1, 1988, be less than it was on December 31, 1987;

  (b)  January 1, 2000 be less than it was on December 31, 1999; and

  (c)  January 1, 2001 be less than it was on December 31, 2000.

1.2  The term "Actuarial Equivalent" shall mean a benefit of equivalent value
determined in accordance with the provisions of the Plan, as certified by the
Actuary.  Effective January 1, 2000, the term "Actuarial Equivalent" shall
mean a form of benefit differing in time, period or manner of payment from a
specific benefit provided under the Plan but having the same value when
computed using mortality according to the 1971 Group Annuity Mortality Table
for males and an 8% per annum compounded interest rate.  Notwithstanding the
foregoing, for the purposes of determining the amount of any lump sum payment
under the Plan paid on or after January 1, 2000, the mortality table shall be
the table prescribed by the Commissioner of Internal Revenue pursuant to Rev.
Rul. 95-6 (as hereafter amended or modified) and the interest rate shall
equal the annual rate of interest on 30-year Treasury securities as published
by the Commissioner of Internal Revenue for the second full calendar month
preceding the first day of the Plan Year during which occurs the date of
distribution commencement.  For purposes of determining the amount of any
lump sum payment under the Plan paid prior to January 1, 2000, the interest
rate shall be the Applicable Interest Rate under Section 5.5(d) of the prior
plan document and the 1971 Group Annuity Mortality Table for males.
Notwithstanding any other Plan provision to the contrary, effective for
distributions with an Annuity Starting Date on or after December 31, 2002,
the applicable mortality table to be used for purposes of: (i) satisfying the
requirements of Code Section 417(e) as set forth in Sections 5.3 and 5.5 of
the Plan; and (ii) adjusting any benefit or limitation under Code Section
415(b)(2)(B), (C), or (D) as set forth in Section 6.1 of the Plan, shall be
the applicable mortality table prescribed in Rev. Rul. 2001-62, the 1994
Group Annuity Reserving Table (94 GAR).

1.3  The term "Actuary" shall mean an individual enrolled by the Joint Board
for the Enrollment of Actuaries under Section 3042 of the Employee Retirement
Income Security Act of 1974 or a firm of actuaries, at least one of whose
members has been so enrolled.
                                     2
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1.4  The term "Anniversary Date" shall mean January 1 of each year.

1.5  The term "Annuity Starting Date" shall mean the first day of the first
period for which an amount is received or receivable as an annuity or, in the
case of a benefit not payable in the form of an annuity, the first day on which
all events have occurred which entitle the relevant Member to such benefit.

1.6  The term "Average Monthly Earnings" (as of any date specified in the Plan
provision in question) shall mean an Employee's average monthly Earnings for
the period of sixty (60) consecutive months within the preceding ten (10)
year period which shall produce the highest average for him.  If the Employee
has completed less than sixty (60) consecutive months of service prior to the
respective date, the term "Average Monthly Earnings" shall mean the average
of the Monthly Earnings for the months immediately preceding such date.

1.7  The term "Beneficiary" shall mean, in the case of a married Member, the
Eligible Spouse of such Member, provided the Eligible Spouse survives the
Member and does not consent to the designation of another Beneficiary in
accordance with Sections 3.6, or 5.2 of this Plan and Code Section
417(a)(2)(A).  In the case of any other Member, the term "Beneficiary" shall
mean the person or persons, including any estate or trust, designated from
time to time by such Member (in such form as the Plan Administrator may
prescribe and with such priorities and conditions as the Member shall specify
and the Plan Administrator shall agree to) to receive any death benefit that
may be payable hereunder, if such person or persons survive the Member and
are in existence after the Member's death.  If a deceased member is not
survived by a Beneficiary determined under the above provisions of this
Section 1.7, or if no Beneficiary is effectively named under the above
provisions of this Section 1.7, the Beneficiary shall be deemed to be the
person or persons in the first of the following classes of beneficiaries with
one or more members of such class then surviving or in existence;

  (a)  The Member's surviving Eligible Spouse;

  (b)  The Member's descendants, per stirpes; or

  (c)  The Member's estate.

1.8  The term "Board" or "Board of Directors" shall mean the Employer's Board
of Directors.

1.9  The term "Break in Service" shall, as a general rule, mean a 12-month
eligibility, vesting or benefit accrual computation period during which the
Employee has not completed more than 500 Hours of Service.  The aggregate
Break in Service shall be the number of consecutive 12-month computation
periods during which the Employee has not completed more than 500 Hours of
Service.  If the respective 12-month computation periods is to switch
pursuant to the definition of Year of Service and if the Employee does not
complete more than 500 Hours of Service during the last 12-month computation
period that commences prior to the switch, the 12-month computation period
for determining whether the Employee incurs consecutive one year Breaks in
Service shall continue to be based on the 12-month computation period in
effect before the switch until more than 500 Hours of Service are completed
during one such 12-month computation period.

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Notwithstanding any provision of this Plan to the contrary, for purposes of
determining whether a Member incurs a Break in Service for the respective
computation period, such Member shall be credited with up to 501 Hours of
Service for a "birth-related" absence.  For these purposes, an Employee's
absence from work shall be regarded as "birth-related" if it is occasioned by
that Employee's pregnancy, is by reason of the birth of a child of that
Employee or the placement of a child with the Employee in connection with the
adoption of such child by that Employee, or is for the purpose of caring for
such child for a period beginning immediately after the birth or placement.
The Employee shall be credited with up to 501 Hours of Service which
otherwise would normally have been completed by that Employee but for such
"birth-related" absence.  If it is not possible to determine the Hours of
Service which otherwise would normally have been completed, that Employee
shall be deemed to complete 8 Hours of Service for each normal workday of
absence, not to exceed 501 Hours of Service in the aggregate.  These Hours of
Service shall be credited during the computation period during which the
absence begins if the Employee does not otherwise complete more than 500
Hours of Service during that computation period; otherwise, these Hours of
Service shall be credited during the immediately following computation
period.  No credit shall be given for a "birth-related" absence, however,
unless the Employee furnishes to the Plan Administrator such timely
information as shall be reasonably necessary, in the Plan Administrator's
discretion, to establish the existence of a "birth-related" absence and the
length of that "birth-related" absence.

Notwithstanding any provision of this Plan to the contrary, a Member will not
incur a Break in Service while on qualified military service in accordance
with the terms of Code Section 414(u)(8) and the provisions of the Uniformed
Services Employment and Reemployment Rights Act (USERRA).

1.10  The term "Code" shall mean the Internal Revenue Code of 1986, as amended
from time to time.  All references herein to the Code shall be deemed to refer
to the Internal Revenue Code of 1986, and the regulations established pursuant
thereto, as they now exist or as they may hereafter be amended.  Any
reference herein to a specific section of the Code shall be deemed to refer
to such section and the regulations established pursuant thereto, as they now
exist or as they may hereafter be amended.

1.11  The term "Death Benefit" shall mean any benefit paid to an Eligible
Spouse or Beneficiary at the death of a Member, Terminated Member, or Retired
Member, as provided under the terms of the Plan.

1.12  The term "Early Retirement Date" shall mean, in the case of each Member
who has attained the age of 55 and has completed at least 15 Years of Service,
the first day of the month immediately following or coincident with the later
of (a) the date such Member leaves the employ of the Employer in accordance
with Section 3.4 hereof or (b) the date the Member directs in writing shall
be his Early Retirement Date.

1.13  The term "Earnings" shall mean compensation which is paid to a Member by
the Employer during the Plan Year and which is includable in the Member's gross
income for federal income tax purposes, as reported on the Member's Form W-2;
provided, however, that the following income shall be excluded (i) any and
all commission income and (ii) income from the exercise of stock options,
stock appreciation rights, restricted stock, restricted stock units and

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similar grants.  Any amounts contributed by the Employer on behalf of an
Employee pursuant to a salary reduction agreement which is not includable in
the gross income of the Employee under Code Sections 125, 132(f)(4), 401(k),
402(a)(8), 402(h) or 403(b) shall be included in Earnings.  Prior to January
1, 1997, in the case of a Member who is a member of the family of:  (i) a 5%
owner or (ii) a Highly Compensated Employee in the group consisting of the
ten Highly Compensated Employees paid the greatest annual earnings during
such Plan Year, each as determined under Section 414(q)(6) of the Code, as in
effect prior to January 1, 1997, the Member's annual Earnings, for all Plan
Years prior to January 1, 1997, shall include any annual Earnings received
from the Employer by such Member's spouse and any lineal descendants of the
Member who have not attained age 19 before the close of such Plan Year.  "The
Earnings of any Member taken into account in determining benefit accruals
under the Plan for any Plan Year beginning after December 31, 2001, shall not
exceed $200,000 as adjusted for cost-of-living increases in accordance with
Section 401(a)(17)(B) of the Code and such limit shall be retroactively
applied to determine such Member's benefit.  Thus Earnings of any Member
taken into account in determining benefit accruals under the Plan for any
Plan Year beginning after December 31, 2004, shall not exceed $210,000.
Earnings means compensation during the Plan Year or such other consecutive
12-month period over which compensation is otherwise determined under the
Plan (the determination period).  The $210,000 limit on earnings shall be
adjusted for cost-of-living increases in accordance with Code Section
401(a)(17)(B).  The cost-of-living adjustment in effect for a calendar year
applies to Earnings for the determination period that begins with or within
such calendar year.

1.14  The term "Effective Date" shall mean the date on which this amendment and
restatement is effective, March 1, 2005, except where otherwise indicated in
the text of this Plan.  The original effective date of the Plan was
January 1, 1976.

1.15  The term "Eligible Spouse" shall mean the legally married spouse of the
Member at the earlier of the Member's date of death or the Member's Annuity
Starting Date, provided the Member and his spouse have been married for at
least one year as of such date.  However, if a Member marries within one (1)
year before his Annuity Starting Date and the Member and such Spouse have
been married for at least one (1) year on or before the date of the Member's
death, such persons shall be treated as having been married one (1) year on
the Member's Annuity Starting Date.

1.16  The term "Employee" shall mean any person who is an Employee (such term
having its customary meaning) of the Employer and who is receiving
remuneration for personal services rendered to the Employer (other than as an
independent contractor).  In addition, the term Employee shall include leased
employees within the meaning of Code Section 414(n)(2) unless (i) such leased
employees constitute less than twenty percent (20%) of the Employer's non-
highly compensated work force within the meaning of Code Section
414(n)(5)(C)(ii), and (ii) such leased employees are covered by a plan
described in Code Section 414(n)(5), in which event such leased employees
shall not be considered Employees for purposes of this Plan.  Leased
employees shall not be eligible to participate in this Plan.  Further, the
following Employees shall not be eligible to participate in the Plan:

  (a)  Employees whose terms and conditions of employment are determined by
collective bargaining with a union or an affiliate thereof representing such

                                     5
<PAGE>

persons and with respect to whom inclusion in the Plan has not been provided
for in the collective bargaining agreement;

  (b)  Any individual who is an independent contractor.

An independent contractor who is recharacterized by the Internal Revenue
Service as a common law employee will not be considered as described in
paragraph (b) for periods on and after the recharacterization.  The
individual also will not be considered as described in paragraph (b) for
periods before the characterization, unless the Employer has classified the
individual as an independent contractor in good faith, and the individual was
part of a group of independent contractors identified by similar work
requirements.  An individual's ineligibility under the previous sentence has
no bearing on whether the individual is an excludable employee for purpose of
the nondiscrimination tests under Code Sections 401(b) and 401(a)(4).

1.17  The term "Employer" shall mean Southwest Georgia Financial Corporation,
its successors and assigns, and, subject to the provisions of Section 11.7,
any business into which the Employer may be merged or consolidated or to which
substantially all of its assets may be transferred.  The term shall also mean
Southwest Georgia Bank any other affiliate of Southwest Georgia Financial
Corporation which shall, with Southwest Georgia Financial Corporation's prior
written consent, adopt this Plan, and any successor or assign of such an
Employer.  In the event such an affiliate does so become a participating
employer, it shall contribute to the Plan, and its Employees shall be
entitled to benefits thereunder, in accordance with its term, subject to the
following special provisions:

  (a)  The contribution of each Employer shall be equal to that amount
necessary to fund the benefits accrued by its Employees in accordance with
the funding methods and policies established under Article VII hereof.

  (b)  In computing the Hours of Service of a person who is in the employ of
only one of the Employers hereunder at the same time, the period of service
of such person with any of the Employers shall be counted, and a transfer of
an Employee from the employment of one Employer to the employment of another
shall not interrupt his service, nor shall such a transfer constitute a
termination of employment under the terms of this Plan.

  (c)  In the event of a transfer of any Member from the employment of one
employer to the Employment of another Employer, he shall be considered and
treated thereafter as a Member who is an Employee of the Employer to which he
is transferred, except, if such Member thereafter forfeits all or a part of
his interest under any of the provisions of the Plan, the Plan Administrator
shall divide such forfeiture for the purpose of allocation in an equitable
manner, considering all the circumstances, between the two Employers.

In the event of such a transfer, the contribution of each Employer with
respect to the accrued benefits of such transferring Member shall be an
amount determined by allocating the total contribution thus necessary to the
Employers on the basis of the amount of wages or salary earned with each such
Employer during its fiscal year in which the transfer takes place.

1.18  The term "ERISA" shall mean the Employee Retirement Income Security Act
of 1974, as amended from time to time, and the regulations established pursuant

                                     6

<PAGE>

thereto, as they now exist or as they may hereafter be amended.  Any
reference herein to a specific section of ERISA shall be deemed to refer to
such section and the regulations established pursuant thereto, as they now
exist or as they may hereafter be amended.

1.19  The term "Forfeiture" shall mean the portion of a Member's Accrued
Benefit which is not vested in accordance with Section 5.1, and which is
applied as provided in the Plan to reduce Employer contributions which would
otherwise be required.

1.20  The term "Hour of Service" or "Hour" means:

  (a)  Each hour for which an Employee is paid, or entitled to payment, by the
Employer for the performance of duties.  These hours shall be credited to the
Employee for the computation period in which the duties are performed; and
Each hour for which an Employee is paid, or entitled to payment, by the
Employer on account of a period of time during which no duties are performed
(irrespective of whether the employment relationship has terminated) due to
vacation, holiday, illness, incapacity (including disability), jury duty,
military duty or leave of absence, provided, however, that under this
paragraph (2):

  (i)  No more than 500 Hours of Service shall be credited for any single
  continuous period (whether or not such period occurs in a single computation
  period) during which the Employee performs no duties;

  (ii)  No hours shall be credited if such payment is made or due under a plan
  maintained by the Employer solely for purposes of complying with applicable
  worker's compensation, unemployment insurance or disability insurance laws;
  and

  (iii)  No hours shall be credited for a payment which reimburses an Employee
  for medical or medically related expenses incurred by the Employee; and

  (c)  Each hour for which back pay, irrespective of mitigation of damages, is
either awarded or agreed to by the Employer.  These hours shall be credited
to the Employee for the computation period to which the award or agreement
pertains rather than the period in which the award, agreement, or payment is
made.  The same Hours of Service shall not be credited under paragraphs (1)
or (2), as the case may be, and this paragraph (3).  Crediting of hours for
back pay awarded or agreed to with respect to periods described in paragraph
(2) shall be subject to the limitations of that paragraph.

  (d)  Hours of Service credited under the Plan shall be calculated and
credited subject to the rules and restrictions set forth in Department of Labor
Regulations Section 2530.200b-2(b), (c) and (f) which are incorporated herein
by this reference.

  (e)  The method of determining Hours of Service under the Plan shall be in
accordance with Department of Labor Regulations Section 2530.200b-3 and shall
be applied in a consistent and non-discriminatory manner to Employees or
classes of Employees.

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<PAGE>

1.21  The term "Key Employee" means an Employee defined in Code Section 416(i)
and the Treasury regulations thereunder.  Generally, they shall include any
Employee or former employee (and his Beneficiaries) who, at any time during
the Plan Year or any of the preceding four Plan Years, is:

  (a)  an officer of the Employer (as that term is defined within the meaning
of the regulations under Code Section 416) for any such Plan Year having 415
Compensation greater than $135,000 (as adjusted under Code Section 415(i)(1)
for that Plan Year).

  (b)  a "five percent owner" of the Employer.  "Five percent owner" means any
person who owns (or is considered as owning within the meaning of Code
Section 318) more than 5% of the outstanding stock of the Employer or stock
possessing more than 5% of the total combined voting power of all stock of
the Employer or, in the case of an unincorporated business, any person who
owns more than 5% of the capital or profits interest in the Employer.  In
determining percentage ownership hereunder, employers that would otherwise be
aggregated under Code Section 414(b), (c), and (m) shall be treated as
separate employers.

  (c)  a "one percent owner" of the Employer having an annual 415 Compensation
from the Employer of more than $150,000 as adjusted by the Internal Revenue
Service.  "One percent owner" means any person who owns (or is considered as
owning within the meaning of Code Section 318) more than 1% of the
outstanding stock of the Employer or stock possessing more than 1% of the
total combined voting power of all stock of the Employer or, in the case of
an unincorporated business, any person who owns more than 1% of the capital
or profits interest in the Employer.  In determining percentage ownership
hereunder, employers that would otherwise be aggregated under Code Section
414(b), (c), and (m) shall be treated as separate employers.  However, in
determining whether an individual has 415 Compensation of more than $150,000
as adjusted by the Internal Revenue Service, 415 Compensation from each
employer required to be aggregated under Code Section 414(b), (c), and (m)
shall be taken into account.

1.22  The term "Late Retirement Date" shall mean the first day of any month
which is subsequent to the Member's Normal Retirement Date and which is
coincident with or immediately following the day the Member terminates
employment with the Employer for any reason other than death.

1.23  The term "Member" shall mean any Employee of the Employer who has become
a Member as provided in Article II hereof.

1.24  The term "Monthly Earnings" shall mean 1/12th of Earnings as defined in
Section 1.15.  A Member's Monthly Earnings shall be appropriately adjusted by
the Plan Administrator to an annual basis if he receives compensation for
less than the full Plan Year.

1.25  The term "Monthly Retirement Income" shall mean a monthly income due to,
or with respect to, a Retired Member which shall commence as of his Early,
Normal, or Late Retirement Date, or which shall commence upon his death
pursuant to the terms of Section 4.1.  Such "Monthly Retirement Income" shall
continue for the period indicated in Article III or IV hereof.

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<PAGE>

1.26  The term "Normal Retirement Date" shall mean the first day of the month
coincident with or immediately preceding the Member's 65th birthday ("Normal
Retirement Age").  A Member shall become fully vested and his Accrued Benefit
shall become nonforfeitable as of his Normal Retirement Age.

1.27  The term "Plan" shall mean the pension plan set forth herein, as amended
from time to time, which is known as the Southwest Georgia Financial
Corporation Pension Retirement Plan.

1.28  The term "Plan Administrator" shall mean the individual or entity (which
may be a committee) which will be appointed by and serve at the pleasure of the
Employer to administer and manage the Plan in accordance with Article IX.  In
the event that the Employer has not appointed a Plan Administrator, or in the
event that the Plan Administrator appointed by the Employer has resigned,
been removed or is otherwise disabled from serving, the term Plan
Administrator shall mean the Employer.

1.29  The term "Plan Year" shall mean the twelve month period beginning on
January 1 and ending on December 31, which shall also serve as the "limitation
year" for purposes of Section 415 of the Code.

1.30  The term "Qualified Joint and Survivor Annuity" shall mean an annuity for
the life of the Member with a survivor annuity for the life of his Eligible
Spouse which is equal to fifty percent (50%) of the amount of the annuity
payable during the joint lives of the Member and his Eligible Spouse, and
which is the Actuarial Equivalent of a 5-year certain annuity for the life of
the Member.

1.31  The term "Retired Member" shall mean any Member of the Plan who has
terminated his employment after qualifying for retirement under Section 3.2,
3.3, 3.4, or 3.5.  Retirement shall be considered to commence on the day
immediately following the Member's last day of employment by the Employer or,
if later, the last day of an authorized leave of absence.

1.32  The term "Sylvester Plan" shall mean the Sylvester Banking Company
Pension Plan.

1.33  The term "Sylvester Member" shall mean Members in this Plan who are
former members of the Sylvester Plan who became Members in the Plan as of
January 1, 2005 following the merger of the Sylvester Plan into the Plan.

1.34  The term "Terminated Member" shall mean a Member who does not retire
under Section 3.2, 3.3, 3.4, or 3.5 hereof or die under Section 4.1, who
incurs a one year Break in Service, and who has not again become an active
Member.

1.35  The term "Total and Permanent Disability" or "Totally and Permanently
Disabled" shall mean a physical or mental condition which totally and
presumably permanently prevents a Member from engaging in any substantially
gainful activity and which entitles the Member to payment under the Employer-
sponsored long-term disability insurance program, assuming that such program
is then maintained by the Employer and covers the Member.

                                     9

<PAGE>
1.36  The term "Trust Agreement" shall mean the Trust Agreement adopted
December 9, 1975, as in effect as of the effective date of this amendment and
restatement of the Plan.

1.37  The term "Trustee" shall mean the trustee or trustees then serving under
the Trust Agreement.

1.38  The term "Trust Fund" or "Fund" shall mean all contributions to the Trust
together with the earnings and increments thereon, less disbursements made by
the Trustee in accordance with the terms of this Plan.

1.39  The term "Year of Service" shall mean a 12-month computation period
during which an Employee completes 1,000 or more Hours of Service.  The
computation period initially to be taken into account shall be the 12-month
period commencing with the Employee's first day of employment with the
Employer, whether or not such employment commenced prior to the original
effective date of the Plan.  Whether or not the Employee is credited with at
least 1,000 Hours of Service during this initial 12-month computation period,
the computation period shall thereafter be the first calendar year commencing
after the date such employment began and shall include each calendar year
thereafter.  In the event such Employee is credited with at least 1,000 Hours
of Service during the initial 12-month computation period as well as during
his first full calendar year of employment, such Employee shall be credited
with one Year of Service plus a fraction of a Year of Service, the numerator
of such fractional Year of Service being the number of months during his
first partial calendar year of such employment during which he was credited
with at least one (1) Hour of Service, and the denominator of which is twelve
(12).  If an Employee completes at least 1,000 Hours of Service during such
initial 12-month period and such period overlaps two calendar years in
neither of which has the Employee completed at least 1,000 Hours of Service,
he shall nevertheless be credited with a Year of Service for the Plan Year in
which he becomes a Member of the Plan but shall not be credited with any
fractional Year of Service as described above.  However, in no event shall
this definition be applied to reduce the benefit of a Member under the Plan
computed as of December 31, 1987, using the definition of Years of Service
previously contained in the Plan.

Notwithstanding any provision of this Section 1.39 or the Plan generally to
the contrary, a Member who is not credited with at least one (1) Hour of
Service on or after January 1, 1988, shall receive no credit, for purposes of
calculating his Monthly Retirement Income and Accrued Benefit, for Hours of
Service completed after his Normal Retirement Date.  Also, again
notwithstanding any provision of this Section 1.39 or the Plan generally to
the contrary, if a Terminated Member is subsequently re-employed and again
becomes a Member, or if a Member's Break in Service ceases where no
termination of employment has occurred, his "Years of Service" for vesting
and benefit accrual purposes shall not include any periods of employment
prior to such re-employment or cessation of Break in Service only if (i) such
Member's vested percentage pursuant to Section 5.1 was zero as of the date of
termination or commencement of Break in Service, and (ii) the Member's Breaks
in Service as of his re-employment or cessation of Break in Service equals or
exceeds the greater of 5 consecutive years or his Years of Service for
vesting purposes as of his termination date or commencement of Break in
Service.

In computing Years of Service hereunder, the period of an Employee's
employment with any other member of a group of related employers which

                                     10
<PAGE>
includes the Employer shall be counted for participation and vesting purposes
(but not for accrual of benefits purposes unless such other employer has also
adopted the Plan), and a transfer of an Employee from the employ of one such
member to the employ of another member shall not interrupt such Employee's
service.  Related employers shall be determined under Code Section 414(b),
(c), (m) and (n), to include members of a controlled group or corporations,
trades or business under common control, members of an affiliated service
group, and entities related through the leasing of employees.

                                     11

<PAGE>

                                  ARTICLE II

                       MEMBERSHIP IN THE RETIREMENT PLAN

2.1  Initial Membership.  An Employee who was a member under the prior
provisions of this Plan as of the date immediately preceding the Effective Date
shall remain a Member and shall continue to participate in accordance with the
provisions of this amended and restated Plan.  Any other Employee will become
a Member on the Anniversary Date of the Plan Year in which the Member has
both completed one (1) Year of Service and has attained the age of twenty-one
(21).

2.2  Resumption of Membership.  A Retired or Terminated Member who later
returns to the employ of the Employer or who completes a Year of Service after
incurring a Break in Service while still employed by the Employer shall again
become a Member as of the Anniversary Date occurring within the Plan Year in
which he is re-employed or in which he completes a Year of Service following
the Break in Service, whichever is applicable.  Any such Member's benefit
payments shall thereupon be suspended as provided in Section 3.7 of the Plan.
Notwithstanding any provision of this Plan to the contrary, a Retired or
Terminated Member who is reemployed as an Employee and continues in the
employ of the Employer through the last day of the Plan Year shall resume his
Membership for the Plan Year of employment, even though he completes not more
than 500 Hours of Service during such Plan Year.

2.3  Termination.  Membership in this Plan shall continue until such Member
incurs a Break in Service, retires in accordance with Section 3.2, 3.3, 3.4,
or 3.5, dies or becomes a Terminated Member as contemplated in Section 5.1 of
the Plan.

2.4  Membership Requirement Effective as of May 1, 1999.  Notwithstanding
Section 2.1, effective May 1, 1999, any Employee who is employed exclusively
on a commissioned basis shall not be eligible to participate in the Plan.

2.5  Qualified Military Services.  Notwithstanding any provisions of this Plan
to the contrary, contributions, benefits and service credit with respect to
qualified military service will be provided in accordance with Code Section
414(u).

2.6  Moultrie Insurance Agency Membership.  Subject to Section 2.4, an Employee
who had been employed by Southwest Georgia Insurance Services, Inc. (a/k/a
Moultrie Insurance Agency) on or after May 1, 1999 shall become a Member on
the date he first is employed by an Employer and meets the requirements of
Section 2.1 where Years of Service shall include service under Southwest
Georgia Insurance Services, Inc. from and after May 1, 1999 so long as it
does not otherwise duplicate Service under this Plan.

2.7  Waiver of Participation.  An Employee, leased employee, independent
contractor, Beneficiary or other person with any claim to benefits under the
Plan who provides the Plan Administrator with a knowing, voluntary and
irrevocable waiver of benefits under the Plan in a form satisfactory to the
Plan Administrator shall not be eligible to participate in or receive
benefits from the Plan and shall be treated for all purposes as ineligible.

                                     12

<PAGE>

2.8  Empire Financial Services, Inc. Membership.  Effective January 1, 2002,
Empire Financial Services, Inc., a subsidiary company of Southwest Georgia
Financial Corporation, became an adopting Employer in accordance with Section
1.18 of the Plan.  Effective January 1, 2002, Employees of Empire Financial
Services are eligible to participate in the Plan provided that service under
the Empire Financial Services, Inc. Profit Sharing Plan shall be recognized
for eligibility and vesting but not for accrual of benefits under the Plan.

2.9  Sylvester Banking Company Membership.  Effective as of February 27, 2004,
service of Employees who were employed by Sylvester Banking Company on the
immediately preceding day will be counted as Hours of Service for purposes of
determining eligibility under the Plan.  Employees who met the Plan's
eligibility service requirements on February 27, 2004 will be immediately
eligible to participate in the Plan.  In addition prior service with
Sylvester Banking Company shall be recognized for calculating vesting but not
for purposes of determining a Member's Accrued Benefit under the Plan (except
as provided in Section 2.10 with respect to the Member's benefit under the
Sylvester Plan).

2.10  Sylvester Banking Company Pension Plan.  Each participant in the
Sylvester Banking Company Pension Plan (the "Sylvester Plan") as of the close
of business on December 31, 2004, shall, in connection with the merger of the
Sylvester Plan into the Plan, become a Member in the Plan effective as of the
earlier of the date specified in Section 2.9 or the close of business on
December 31, 2004.  The Plan Administrator shall maintain records adequate to
permit the determination of the amounts transferred attributable to a
Sylvester Member's frozen accrued benefit under the Sylvester Plan.

                                     13

<PAGE>

                                 ARTICLE III

                           MONTHLY RETIREMENT INCOME

3.1  General.  Any Member who terminates his employment with the Employer on or
after his Early, Normal, or Late Retirement Date or by reason of Total and
Permanent Disability shall qualify for retirement under Sections 3.2, 3.3,
3.4, or 3.5, and his Accrued Benefit shall be fully vested.  Monthly
Retirement Income payable under the terms of this Article shall be subject to
the restrictions and limitations of Article VI and shall be paid by the
Trustee only by or at the direction of the Plan Administrator.  Neither the
Employer, the Plan Administrator, nor the Trustee shall be under any
obligation to pay any Monthly Retirement Income other than from the Trust
Fund.

3.2  Normal Retirement.

  (a)  Benefit Computations Prior to January 1, 1988 [Historical provision].
Each Member who is not credited with at least one (1) Hour of Service on or
after January 1, 1988, who lives to his Normal Retirement Date and who retires
on such date shall be entitled to a monthly retirement benefit, commencing on
his Normal Retirement Date, equal to the greater of (1) $100 or (2) 20% of
his Average Monthly Earnings, plus 15% of his Average Monthly Earnings in
excess of $1,000, plus .5% of his Average Monthly Earnings multiplied by his
Years of Service as of his Normal Retirement Date.  Such monthly retirement
benefit is then multiplied by a fraction, the numerator of which is such
Member's Years of Service as of the date of calculation and the denominator
of which is such Member's Years of Service at his Normal Retirement Date if
he were to live and remain in the employ of the Employer until his Normal
Retirement Date.  If the Member has less than 15 Years of Service his monthly
retirement benefits as determined under (1) or (2) above shall be reduced by
1/15th for each Year of Service less than 15, but such reduction shall in no
event reduce the Member's monthly retirement benefit to less than two percent
(2%) of his Average Monthly Earnings for each Year of Service not in excess
of ten (10) Years of Service.  All such monthly benefits shall be computed to
nearest dollar, with fifty cents ($.50) being regarded as the next higher
dollar.

  (b)  Benefit Computations After December 31, 1987 And Prior to January 1,
1989 [Historical provision].  In the case of a Member who retires on his Normal
Retirement Date and who is credited with at least one (1) Hour of Service on or
after January 1, 1988 but is not credited with (1) Hour of Service on or
after January 1, 1989, such Member shall be entitled to a monthly retirement
benefit commencing on his Normal Retirement Date equal to (1) a basic monthly
benefit of thirty-five percent (35%) of such Member's Average Monthly
Earnings plus (2) an excess benefit equal to three-fourths of one percent
(.75%) of such Average Monthly Earnings in excess of one thousand six hundred
sixty-six dollars and sixty-seven cents ($1,666.67) multiplied by the
Member's Years of Service not in excess of thirty-five (35) Years of Service.
Such monthly retirement benefit is then multiplied by a fraction, the
numerator of which is such Member's Years of Service as of the date of
calculation and the denominator of which is such Member's Years of Service at
his Normal Retirement Date if he were to live and remain in the employ of the
Employer until his Normal Retirement Date.  The Member's total monthly
benefit so computed shall be reduced by 1/15th for each Year of Service fewer
than 15 credited to such Member.  Provided, however, that in no event shall

                                     14
<PAGE>

the application of this Section 3.2(b) result in a Member's Accrued Benefit
on or after January 1, 1988, being less than such Member's Accrued Benefit
determined as of December 31, 1987, based upon such Member's Years of Service
and Average Monthly Earnings as of December 31, 1987.

  (c)  Benefit Computations After December 31, 1988 and Prior to January 1,
2001 [Historical provision].  In the case of a Member who retires on his Normal
Retirement Date (or otherwise terminates employment) and who is credited with
at least one (1) Hour of Service on or after January 1, 1989 but is not
credited with (1) Hour of Service on or after January 1, 2001, such Member
shall be entitled to a monthly retirement benefit commencing on his Normal
Retirement Date equal to the sum of (i) and (ii):

  (i)  a basic monthly benefit of thirty-five percent (35%) of such Member's
  Average Monthly Earnings multiplied by:

  (1)  his Years of Service as of his date of termination of employment or
  other termination of Service divided by the Years of Service he would have if
  he continued in employment to his Normal Retirement Date; and

  (2)  a fraction equal to the Years of Service he would have if he continued
  in employment to his Normal Retirement Date divided by 15; provided that this
  fraction is only applied to a Member if he would have fewer than fifteen (15)
  Years of Service at his Normal Retirement Date (or if he is employed after
  his Normal Retirement Date, at his Late Retirement Date);

  (ii) an excess benefit equal to .72%, subject to Section 3.2(h), of such
  Average Monthly Earnings in excess of one thousand four hundred sixteen
  dollars and sixteen cents ($1,416.16) multiplied by the Member's Years of
  Service at his date of termination or other termination of Service not in
  excess of thirty-five (35) Years of Service.

In no event shall the application of this Section 3.2(c) result in a Member's
Accrued Benefit on or after January 1, 1989, being less than such Member's
Accrued Benefit determined as of December 31, 1988, based upon such Member's
Years of Service and Average Monthly Earnings as of December 31, 1988.

  (d)  Benefit Computations After December 31, 2000 [Current Provision].

  (i)  In the case of a Member who is not a Sylvester Member and who retires
  on his Normal Retirement Date (or otherwise terminates employment) and who is
  credited with at least one (1) Hour of Service on or after January 1, 2001,
  such Member shall be entitled to a monthly retirement benefit commencing on
  his Normal Retirement Date equal to the sum of (1) and (2) below.

  (1)  The Member's Accrued Benefit as of December 31, 2000 determined as if
  such date were a date of termination of employment but with Average Monthly

                                     15

<PAGE>

  Earnings determined as of the date of actual termination of employment.

  (2)  46% of the Member's Average Monthly Earnings multiplied by

  (A)  the ratio of the Member's Years of Service since January 1, 2001
       divided by all Years of Service; and

  (B)  a fraction equal to the Years of Service he would have if he continued
       in employment to his Normal Retirement Date divided by 25; provided this
       fraction is only applied to a Member if he would have fewer than twenty-
       five (25) Years of Service at his Normal Retirement Date (or if he is
       employed after his Normal Retirement Date, at his Late Retirement Date).

  (ii)  Normal Retirement Benefit.  Each Sylvester Member shall be entitled to
  a monthly retirement benefit commencing on his Normal Retirement Date equal
  to:

  (1)  the Member's frozen accrued benefit under the Sylvester Plan converted
  using the Sylvester Plan's actuarial assumptions to a 5-year certain and life
  monthly retirement income, plus

  (2)  (A)  46% of such Member's Average Monthly Earnings, multiplied by

       (B)  an accrual fraction equal to the Member's Years of Service
       completed after March 1, 2004, divided by the Member's Years of Service
       at his Normal Retirement Date, if he were to live and remain in the
       employ of the Employer until his Normal Retirement Date (excluding any
       years of service performed for Sylvester), multiplied by

       (C)  an accrual fraction equal to the Member's Years of Service at his
       Normal Retirement Date not in excess of 25, divided by 25.

Provided however, that in no event shall the application of this Section
3.2(d)(ii) result in a Sylvester Member's Accrued Benefit on or after March
1, 2004, being less than such Sylvester Member's Accrued Benefit determined
as of February 27, 2004 based upon such Sylvester Member's Years of Service
and Average Monthly Earnings as of February 27, 2004.

                                     16

<PAGE>

(e)  Retired Members Entitled to Greater of Past or Current Benefit Formula.
For Plan Years beginning on or after January 1, 1990, any Member who terminated
employment prior to 1988 and who is entitled to a retirement benefit shall
have his retirement benefit recomputed under both the pre-1988 benefit
formula contained in Section 3.2(a) and the post-1987 benefit formula
contained in Section 3.2(b), and shall be entitled to receive, prospectively
from January 1, 1990 forward only, the greater of the retirement benefits
calculated under Sections 3.2(a) or 3.2(b) above.  In no event shall the
recomputation of a Member's retirement benefit cause or permit a Member to
change the method of benefit payment such Member previously elected pursuant
to Section 3.6.

(f)  Form of Normal Retirement Benefit.  The monthly retirement benefit shall
be expressed in the form of a 5-year certain annuity for the life of the
Member, although the actual form of payment shall be in accordance with the
terms of Section 3.6.

(g)  Effective as of January 1, 1989, a Member's benefit under this Section 3.2
shall in no event be less than the Member's early retirement benefit
calculated under Section 3.4.

(h)  Effective as of January 1, 1989 and as applicable to a benefit determined
under Section 3.2(c), if the Member commences benefits under the Plan prior
to the Member's reaching his Social Security Retirement Age (as hereinafter
defined) the .72% excess integration factor in Section 3.2(c) shall be
replaced by .67% if the Social Security Retirement Age is 66 and .62% if the
Social Security Retirement Age is 67.  The "Social Security Retirement Age"
shall be as follows:

  (i)  age 65 is the case of a Member who attains age 62 before January
  1, 2000;

  (ii)  age 66 in the case of  a Member who attains age 62 after December
  31, 1999, but before January 1, 2017; and

  (iii)  age 67 in the case of a Member who attains age 62 after December
  31, 2016.

(i)  Effective as of January 1, 1989, this subsection shall apply to a Member
who is (i) credited with a Year of Service both before 1994 and after 1993; and
(ii) whose annual compensation in one or more Plan Years prior to January 1,
1994 exceeded the limit in Code Section 401(a)(17) in effect on January 1,
1994.  Such Member's benefit under the Plan shall be the greater of:

  (i)  such Member's Accrued Benefit as of December 31, 1993; and

  (ii)  such Member's Accrued Benefit as of his actual date of termination of
  employment or retirement using the benefit formula in Section 3.2(c) based on
  the Member's total Years of Service.

3.3  Late Retirement.  Subject to applicable law and the Employer's personnel
policies, a Member may remain in the employ of the Employer after his Normal
Retirement Date, in which event no Monthly Retirement Income shall be paid
prior to the Member's Late Retirement Date.  If a Member does continue his

                                     17

<PAGE>
employment with the Employer beyond his Normal Retirement Date, he shall be
entitled to a monthly retirement benefit, commencing on his Late Retirement
Date, equal to the monthly retirement benefit which he would have received
under Section 3.2 if he had retired on his Normal Retirement Date, taking
into account his Years of Service and Average Monthly Earnings as of his
Normal Retirement Date and assuming that the form of payment ultimately
received under Section 3.6 began as of his Normal Retirement Date; provided,
however, that a Member who is credited with at least one (1) Hour of Service
on or after January 1, 1988, shall be entitled on his Late Retirement Date to
the greater of his Monthly Retirement Income computed in the manner provided
in Section 3.2(b), 3.2(c), or 3.2(d) but by taking into account his Years of
Service, including Years of Service credited after his Normal Retirement
Date, (subject, however, to any applicable Year of Service maximums) and
Average Monthly Earnings as of his Late Retirement Date or the Actuarial
Equivalent of the monthly retirement benefit which he would have received
under Section 3.2 if he had retired on his Normal Retirement Date.  The
monthly retirement benefit shall be expressed in the form of a 5-year certain
annuity for the life of the Member, although the actual form of payment shall
be in accordance with the terms of Section 3.6.

3.4  Early Retirement.  A Member who is at least age 55 and has completed at
least 15 Years of Service shall be eligible for early retirement and thus
shall be fully vested.  If a Member does take early retirement, he shall be
entitled to a monthly retirement benefit, commencing on his Normal Retirement
Date, equal to his Accrued Benefit as of his Early Retirement Date.
Alternatively, if the Member elects to have his monthly retirement benefit
begin before his Normal Retirement Date, such Member shall be entitled to a
monthly retirement benefit equal to the monthly retirement benefit which would
otherwise commence as of his Normal Retirement Date, reduced by five twelfths
(5/12ths) of one percent (1%) for each month that the commencement date of such
payments precedes the Member's Normal Retirement Date.  All such monthly
benefits shall be computed to the nearest dollar, with fifty cents ($.50)
being regarded as the next higher dollar.  The monthly retirement benefit
shall be expressed in the form of a 5-year certain annuity for the life of
the Member, although the actual form of payment shall be elected in
accordance with the terms of Section 3.6.

3.5  Disability Retirement.  If a Member becomes Totally and Permanently
Disabled after completing at least 10 Years of Service, and if he remains
Totally and Permanently Disabled until his Normal Retirement Date, such
Member shall be entitled to a monthly retirement benefit, commencing on his
Normal Retirement Date, computed as of the date such Member incurs a Total and
Permanent Disability, in an amount equal to the monthly retirement benefit to
which he would have been entitled under Section 3.2 if he had continued to
work until his Normal Retirement Date and his Average Monthly Earnings
continued at the same level as in effect at the time of the Total and Permanent
Disability.

Total and Permanent Disability shall be considered to have ended and
entitlement to a disability retirement pension shall cease if, prior to his
Normal Retirement Date, the Member is reemployed by the Employer or loses his
entitlement to payments under all Employer-sponsored long-term disability
insurance programs under which he was covered at the time of his Total and
Permanent Disability.  If entitlement to a disability retirement pension
ceases in accordance with the provisions of this paragraph for a reason other
than reemployment by the Employer, such Member shall not be prevented from
qualifying for a Monthly Retirement Income under another provision of the

                                     18
<PAGE>

Plan, based upon his Years of Service, Average Monthly Earnings, and age at
the time of disability retirement, but such Member's period of Total and
Permanent Disability shall not be counted in calculating his Years of
Service.  If a Member recovers from Total and Permanent Disability and
returns to employment with the Employer, his subsequent entitlement to a
Monthly Retirement Income shall be determined in accordance with the
provisions of the Plan, based upon his Years of Service, Average Monthly
Earnings, and age, and the period of Total and Permanent Disability shall be
counted in calculating his Years of Service.

3.6  Method of Payment of Retirement Benefits.

(a)  Monthly Retirement Benefit of the Normal Form.  Except as otherwise
provided with respect to married Members in Section 3.6(b) and the election of
an optional form of payment in Section 3.6(c), a Member entitled to retirement,
termination or disability benefits hereunder shall receive such benefits in
the form of a 5-year certain annuity for the lifetime of the Member.

(b)  Qualified Joint and Survivor Annuity for Married Participants.  Benefits
of any Member who has an Eligible Spouse on the Annuity Starting Date shall be
paid, unless the Member otherwise elects in the manner set forth below, in
the form of a Qualified Joint and Survivor Annuity, which shall be the
Actuarial Equivalent of the normal form of monthly retirement benefit,
providing periodic payments for the life of the Member with a fifty percent
(50%) contingent survivor annuity for the benefit of his Eligible Spouse.
The Plan Administrator shall establish an election period of at least ninety
(90) days prior to the date on which Qualified Joint and Survivor Annuity
payments are to commence and shall provide each Member with a notice in
writing of his option to elect not to receive his benefits in the form of a
Qualified Joint and Survivor Annuity.  Such notice shall also contain an
explanation of the requirement of a written consent by the Member's Eligible
Spouse as to any such election.  Such notice shall contain an explanation of
the terms and conditions of the Qualified Joint and Survivor Annuity and the
financial effect upon his annuity payments of making the election not to
receive a Qualified Joint and Survivor Annuity.  Any such election is
revocable by the Member if revoked in a writing delivered to the Plan
Administrator within such election period.

  (i)  An election by a married Member to receive his retirement benefits in a
  form other than a Qualified Joint and Survivor Annuity shall not take effect
  unless:

  (1)  the Member's Eligible Spouse consents in writing to such election, and
  the Eligible Spouse's consent acknowledges the effect of such election and is
  witnessed by a notary public or an official designated by the Plan
  Administrator; or

  (2)  it is established to the satisfaction of the Plan Administrator that the
  Eligible Spouse's consent cannot be obtained because there is no Eligible
  Spouse, because the Eligible Spouse cannot be located, or because of such
  other circumstances as the Secretary of the Treasury may prescribe by
  Regulations.

                                     19

<PAGE>

Consent by an Eligible Spouse, or establishment that an Eligible Spouse's
consent cannot be obtained, shall be effective only with respect to such
individual spouse.

(c)  Election of Optional Forms of Payment.  A Member entitled to benefits
payable in the form of equal monthly installments for such Member's life or a
married Member's electing (with the written consent of such Member's Eligible
Spouse) not to receive a Qualified Joint and Survivor Annuity, may elect to
have his retirement benefit payable under one of the Optional Forms of Payment,
set forth below, which is the Actuarial Equivalent of his Normal Retirement
Benefit pursuant to Section 3.2 hereof:

  (i)  An annuity for the Member's life alone;

  (ii)  An annuity for the Member's life, with payments guaranteed for 5 or 10
        years; or

  (iii)  An annuity for the Member's life, with a survivor annuity for the
         Member's Eligible Spouse which is 100% or 75% of the annuity which is
         payable during the joint lives of the Member and his Eligible Spouse.

(d)  Lump Sum Cash-Out Distribution.  Notwithstanding any other provision of
this Section 3.6, if the Actuarial Equivalent present value of the Member's
benefit is less than  $5,000, and if benefit payments have not begun and the
Member's Annuity Starting Date has not been reached, the Plan Administrator
shall distribute such benefits in a lump sum to the Member or his
Beneficiary.  For these purposes, the present value of the Member's Monthly
Retirement Income shall be calculated in accordance with Section 5.5 of the
Plan.  In the event of a distribution under this Section 3.6(d) in excess of
$1,000, if the Member does not elect to have such distribution paid directly
to an Eligible Retirement Plan specified by the Member in a Direct Rollover
in accordance with Section 11.17 or to receive the distribution directly,
then the Plan Administrator will pay the distribution in a Direct Rollover to
an Eligible Retirement Plan designated by the Plan Administrator.

(e)  Election Period - Any election of a payment option other than a Qualified
Joint and Survivor Annuity (or a revocation of same) by a Member must be made
in writing filed with the Plan Administrator within an election period
commencing on the date which is nine (9) months prior to the Member's
retirement date and terminating sixty (60) days prior to the date upon which
his benefits actually commence (the "Election Period").  Information
pertaining to this election shall be delivered to the Member on or before the
commencement date of the Election Period.  The Member must request any
additional information he may desire within a sixty (60) day period
commencing on the date this information is mailed or delivered to him.
Notwithstanding anything in this Section 3.6(e) to the contrary, the Election
Period shall in all cases include the sixty-day period following the date
upon which the additional information timely requested by a Member was mailed
or delivered to him.

Notwithstanding the preceding paragraph or Section 3.6(b), effective January
1, 1997, the written explanation described in Code Section 417(a)(3)(A) may
be provided after the Annuity Starting Date.  The 90-day applicable election
period to waive the Joint and Survivor Annuity described in Code Section
417(a)(6)(A) shall not end before the 30th day after the date on which such

                                     20

<PAGE>

explanation is provided.  The Secretary of the Treasury may, by regulations,
limit the period of time by which the Annuity Starting Date precedes the
provision of the written explanation other than by providing that the Annuity
Starting Date may not be earlier than termination of employment.

Effective January 1, 1997, a Member may elect (with any applicable spousal
consent) to waive any requirement that the written explanation be provided at
least 30 days before the Annuity Starting Date (or to waive the 30-day
requirement under the above paragraph) if the distribution commences more
than 7 days after such explanation is provided.

(f)  Death After Commencement of Benefits.  If the Member dies after the
commencement of the distribution of benefits but prior to the distribution of
all benefits payable under the respective settlement option, the distribution
shall continue to the Beneficiary pursuant to the form of payment selected by
the Member under this Section 3.6.

3.7  Suspension Of Benefits.  Except as provided in Section 3.5, if a Retired or
Terminated Member is receiving benefit payments from or on behalf of the Plan
on account of such retirement or termination, such benefit payments shall
immediately cease upon re-employment, and, except as provided in Section 5.4,
the total benefits theretofore paid to such Member shall actuarially reduce
any subsequent benefit payments which may be due or may become due to such
Member under the Plan.  Any benefits thereafter payable to such Member shall
be paid as otherwise provided in the Plan.  No payment will be withheld under
this Section unless the Plan notifies the Participant, in accordance with the
requirements of ERISA Section 203(a)(3)(B) and the regulations thereunder,
that such Member's benefits are suspended.  To the extent required by ERISA,
this Section 3.7 shall apply to Members who continue employment past their
Normal Retirement Date as provided in Section 3.3.

                                     21

<PAGE>

                                  ARTICLE IV

                                DEATH BENEFITS

4.1  Incidental Death Benefits for Eligible Spouse.

(A)  If a Member dies while actively employed and prior to becoming a Retired
Member or Terminated Member and prior to the commencement of benefits
pursuant to Article III or V, Death Benefits shall be payable to the deceased
Member's Eligible Spouse, if any.  The surviving Eligible Spouse may elect
between the following:

  (i)  A monthly retirement benefit, commencing on what would have been the
  Member's Normal Retirement Date (or his Late Retirement Date if the Member
  works beyond his Normal Retirement Date), equal to the amount which would
  have been payable to the Spouse under the Qualified Joint and Survivor
  Annuity provided in Section 3.6(b) if the Member had terminated his
  employment on the date of his death, had then lived until his Normal
  Retirement Date and begun to receive Monthly Retirement Income in the form of
  a Qualified Joint and Survivor Annuity on that date, and had died on the day
  after the commencement of benefits; or

  (ii)  a monthly retirement benefit, commencing on the first day of any month
  on or after what would have been the Member's 55th birthday and before what
  would have been the Member's Normal Retirement date, equal to the amount
  which would have been payable to the Eligible Spouse under the Qualified
  Joint and Survivor Annuity provided in Section 3.6(b) if the Member had
  terminated his employment on the date of his death, had then lived until the
  date on which benefits actually commence under this item (ii) and had begun
  to receive Monthly Retirement Income in the form of a Qualified Joint and
  Survivor Annuity on that date, and had died on the day after the commencement
  of benefits.

In the absence of an affirmative written election by the Spouse, Death
Benefits shall be payable to the surviving Eligible Spouse in accordance with
item (i), above, if the Member dies on or after his Normal Retirement Date.
Otherwise, Death Benefits shall be payable in accordance with item (ii),
above, with the payment of benefits commencing on the first day of the month
coincident with or immediately following the Member's 55th birthday if he
dies before age 55 or commencing on the first day of the month coincident
with or immediately following the date of the Member's death if he was at
least age 55 at the time of his death.

All such monthly benefits shall be computed to the nearest dollar, with fifty
cents ($.50) being regarded as the next higher dollar.  The monthly
retirement benefit shall continue for the life of the Spouse alone.  The
death of the Spouse, whether before or after the commencement of monthly
benefits, shall terminate the right to any Death Benefits for any month after
the Spouse's death.

(b)  Lump Sum Cash-Out Distribution.  Notwithstanding any other provision of
this Section 4.1 to the contrary, if the Actuarial Equivalent present value of

                                     22

<PAGE>

the Member's Death Benefits are less than $5,000, and if benefit payments have
not begun and the Member's Annuity Starting Date has not been reached, the
Plan Administrator, shall distribute such Death Benefits in a lump sum to the
surviving Eligible Spouse of the deceased Member.  For these purposes, the
present value of the Member's Death Benefits shall be calculated in
accordance with Section 5.5 hereof.

4.2  No Death Benefits in Absence of Surviving Eligible Spouse.  If a deceased
Member is not survived by an Eligible Spouse, no Death Benefits shall be
payable under this Plan with respect to a deceased Member who is not a
Retired Member or Terminated Member at the time of his death and who is not
eligible for retirement under Sections 3.2, 3.3, or 3.4 at the time of his
death.  If a deceased Member who is not survived by an Eligible Spouse and
who is not a Retired Member or Terminated Member, would have been eligible
for normal, late or early retirement under Sections 3.2, 3.3, or 3.4,
respectively, at the time of his death, his Beneficiary shall receive as
Death Benefits a monthly amount for 60 months equal to the monthly retirement
benefit which the Member would have received if he had retired as of the date
of his death and had begun to receive Monthly Retirement Income in the form
of a 5-year certain annuity for the life of the Member, commencing on the
first day of the month following the month in which his death occurs.

                                     23

<PAGE>

                                  ARTICLE V

                     VESTING AND TERMINATION OF EMPLOYMENT

Vested Interest.  Whenever a Member, for reasons other than actual retirement
under Sections 3.2, 3.3, 3.4, or 3.5 hereof or death under Article IV, incurs
a one year Break in Service, he shall cease to be an active Member and shall
become a Terminated Member.  Subject to the limitations and restrictions of
Article VI, each Terminated Member who is not thereafter credited with any
additional Year(s) of Service shall be entitled at his Normal Retirement Date
to receive Monthly Retirement Income equal to the vested percentage of his
Accrued Benefit as of his date of termination.

The vested percentage of any Terminated Member who is credited with at least
one (1) Hour of Service on or after January 1, 1989, shall be determined in
accordance with the following schedule:

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

The vested percentage of any Terminated Member who is not credited with at
least one (1) Hour of Service on or after January 1, 1989 shall be determined
pursuant to the terms of the Plan as it existed on the date of the Terminated
Member's termination of employment.

The nonvested portion of the Terminated Member's Accrued Benefit shall
constitute a Forfeiture as of the last day of the Plan Year in which such
Terminated Member's employment with the Employer terminates if the Member has
no vested interest in his Accrued Benefit, or upon the earlier to occur of a
fifth consecutive Break in Service or a distribution of any portion his
vested Accrued Benefit if the Member does have a vested interest in his
Accrued Benefit.  Any such Forfeiture shall serve to reduce the Employer's
contributions required under Article VII.  In the event a distribution is
made, the relevant Member shall be afforded the Buy-Back option described in
Section 5.4 of the Plan.

If a Terminated Member has completed at least 15 Years of Service as of the
date of termination, then he shall be entitled to elect in writing to receive
Monthly Retirement Income, commencing on or after the first day of the month
on or after the Member's 55th birthday and before his Normal Retirement Date,
equal to the amount otherwise payable at his Normal Retirement Date, reduced
by 5/12ths of 1% for each month that the commencement of benefits precedes
his Normal Retirement Date.

5.2  Method of Payment of Benefits to Member Separating from Service before
Retirement Date.  If the Member separates from service before retirement or
death, the settlement options available to the Member will depend upon the
Member's marital status as of the date on which benefit payments commence or
on which the Member dies.

(a)  If the Member then has an Eligible Spouse, the vested portion of his
benefit will be paid in the form of a Qualified 50% Joint and Survivor Annuity

                                     24

<PAGE>

as described in Section 3.6(b) unless the Member and his Eligible Spouse
pursuant to the spousal consent requirements in Section 3.6(b)(2), elect to
have the vested portion of his benefits paid in the form of a 5-year certain
annuity.  Payments under such Qualified Joint and Survivor Annuity or
straight life annuity shall in fact commence as of the Member's Normal
Retirement Date or, if the Member has completed at least 15 Years of Service
as of his date of termination and so elects in writing, on the first day of
any month on or after the Member's 55th birthday and before his Normal
Retirement Date.  If the Member dies before the commencement of benefits, a
50% survivor annuity equal to the amount which would be payable to the
surviving Eligible Spouse under a Qualified Joint and Survivor Annuity (as
though the Member had lived and begun to receive a Qualified Joint and
Survivor Annuity on the commencement date) shall be payable to the Surviving
Eligible Spouse.  The commencement date of this 50% survivor annuity shall be
the first day of the month coincident with or immediately following the later
of the Member's 55th birthday or his date of death if he has completed at
least 15 Years of Service as of his date of termination and otherwise shall
be the Member's Normal Retirement Date.  The death of the surviving Eligible
Spouse shall terminate the right to any annuity payments for any month after
the surviving Eligible Spouse's death.

(b)  If the Member does not have an Eligible Spouse, the Member shall receive
the vested portion of his Accrued Benefit in the form of a 5-year certain
annuity for the life of the Member, commencing on the Member's Normal
Retirement Date.  Alternatively, if the Member has completed at least 15 Years
of Service as of his date of termination and so elects in writing, the monthly
benefit otherwise payable to the Member at the time of his Normal Retirement
Date, reduced by five twelfths (5/12ths) of one percent (1%) for each month
that the commencement of benefits precedes his Normal Retirement Date, shall
be payable in the form of a 5-year certain annuity for the life of the
Member, commencing on the first day of any month on or after the Member's
55th birthday and before his Normal Retirement Date.  The Terminated Member's
death prior to the commencement of benefits shall terminate any right to
benefits under this Plan with respect to that Terminated Member.

5.3  Lump Sum Cash-Out Distribution.  Notwithstanding any other provision of
this Section 5.3 to the contrary, if the Actuarial Equivalent present value of
the vested portion of a Member's Accrued Benefit is less than $5,000, and if
benefit payments have not begun and the Annuity Starting Date of the relevant
Member has not been reached, the Plan Administrator shall distribute such
amount in a lump sum to the Member or the Beneficiary of a deceased Member.
For these purposes, the present value of the vested portion of the Member's
Accrued Benefit shall be calculated in accordance with Section 5.5 hereof.

5.4  Buy-Back.  If a Member who has received a distribution pursuant to
Section 5.3 is subsequently reemployed and again becomes a Member of this Plan,
the calculation of his Accrued Benefit and his Monthly Retirement Income shall
be reduced by the Actuarial Equivalent of such cash-out unless the amount of
such payment is repaid to the Trust Fund, plus interest at 5% per annum
between the date of payment and the date of repayment.  This 5% interest rate
shall automatically be adjusted to reflect any regulation or ruling issued
under Code Section 411(c)(2)(D) which changes such interest rate.  If such
amount (plus interest) is repaid, the Member's Accrued Benefits shall not be
reduced by the Actuarial Equivalent of the cash-out.

                                     25

<PAGE>

5.5  Determination Of Present Value

(a)  In General.  For purposes of determining whether the present value of (1)
a Member's Vested Accrued Benefit, (2) a Qualified Joint and Survivor Annuity
within the meaning of Section 417 of the Code, or (3) a Qualified Pre-
Retirement Survivor Annuity within the meaning of Section 417 of the Code
exceeds $5,000, the present value of such benefits or annuities shall be
calculated in accordance with the provisions of Section 1.2 of the Plan.

(b)  Minimum Value.  In no event shall the present value of any benefit or
annuity determined under Section 5.5(a) be less than the greater of:

  (i)  The present value of such benefit or annuity using the Plan provisions
  (other than this Section 5.5) for determining the present value of accrued
  benefits or annuities, or

  (ii)  The present value of such benefits or annuities determined under
  Section 5.5(a) before application of this subsection (b).

(c)  Coordination with Limitations on Contributions and Benefits.  In no event
shall the amount of any benefit or annuity determined under this Section 5.5
exceed the maximum benefit permitted under Code Section 415.

                                     26

<PAGE>

                                  ARTICLE VI

                   LIMITATIONS ON BENEFITS, NON-DISTRIBUTION
                        ALIENATION AND ASSIGNMENT, AND
                               RIGHTS OF MEMBERS

6.1  Limitation on Benefits.

(a)  Anything herein to the contrary notwithstanding, the benefits computed
under Article III shall be subject to the following limitations: The maximum
benefit, when expressed as an annual benefit, shall not exceed the lesser of
$170,000 (subject to cost of living adjustments under Code Section 415(d)) or
100% of the Member's average annual Earnings for his three highest
consecutive years, subject to the following:

  (i)  The maximum limitation shall apply to a straight life annuity, with no
  ancillary benefits;

  (ii)  If benefits begin prior to the Member's Social Security Retirement Age
  (as hereinafter defined), the maximum will be adjusted so that it is the
  Actuarial Equivalent of an annual benefit of $170,000, multiplied by the cost
  of living adjustment factor prescribed by the Secretary of the Treasury under
  Code Section 415(d) for years beginning after December 31, 1987.  The "Social
  Security Retirement Age" shall be the age used as the retirement age for the
  Member under Section 216(1) of the Social Security Act, except that such
  section shall be applied without regard to the age increase factor, and as if
  the early retirement age under Section 215(1)(2) of such Act were 62.

  (iii)  If benefits begin after a Member's Social Security Retirement Age, the
  maximum shall be adjusted so that it is the Actuarial Equivalent of $7,500
  per month beginning at the Social Security Retirement Age, multiplied by the
  cost of living adjustment factor prescribed by the Secretary of the Treasury
  under Code Section 415(d) for years beginning after December 31, 1987, based
  on the lesser of the interest rate assumption used under the Plan or on an
  assumption of five percent (5%) per year. Effective as of January 1, 2000,
  the benefits paid in accordance with this Section shall be adjusted for the
  repeal of Code Section 415(e) provided that no increase in benefit is
  permitted to reflect the difference between the limitation of Code Section
  415(b) and Code Section 415(e) for the prior limitation years.

  (iv)  If the Employee has completed less than ten years of participation in
  the Plan, the Member's Accrued Benefit shall not exceed the maximum
  multiplied by a fraction, the numerator of which is the Participant's number
  of years (or part thereof) of participation in the Plan, and the denominator
  of which is ten.

  (v)  The maximum amount of $170,000 shall be increased as permitted by
  Internal Revenue Service Regulations to reflect cost-of-living adjustments
  above the base period and from and after January 1, 2005 the benefit paid to
  any Participant who is in payment status will be adjusted as of the first day
  of each limitation year for the increase, if any, in the dollar limitation
  indexed under Code Section 415(d).

                                     27

<PAGE>

  (vi)  In addition to other limitations set forth in the Plan and
  notwithstanding any other provisions of the Plan, the Accrued Benefit,
  including the right to any optional benefit provided in the Plan (and all
  other defined benefit plans required to be aggregated with this Plan under
  the provisions of Code Section 415), shall not increase to an amount in
  excess of the amount permitted under Code Section 415.

(b)  Effective as of the first day of the first limitation year beginning on or
after January 1, 2000 (the "effective date"), and notwithstanding any other
provision of the Plan, the Accrued Benefit for any Participant shall be
determined by applying the terms of the Plan implementing the limitations of
Code Section 415 as if the limitations of Code Section 415 continued to
include the limitations of Code Section 415(e) as in effect on the day
immediately prior to the effective date.  For this purpose, the defined
contribution fraction is set equal to the defined contribution fraction as of
the day immediately prior to the effective date.

Notwithstanding any provision in the Plan to the contrary, the preceding
provision does not apply to any Employee participating in the Plan who has
completed one Hour of Service on or after January 1, 2000.

(c)  In the event that a Member's benefits under this Plan and any other plan
exceed the limitations specified in Section 6.1(a) or (b), appropriate
reductions in such benefits shall be made by the Plan Administrator in the
following order:

  (i)  First, any benefits from this Plan, and

  (ii)  to the extent that additional reductions are necessary, such reductions
   shall be made to any defined contribution plan maintained by the Employer.

(d)  For purposes of this Section 6.1, the following definitions and rules of
interpretation shall apply:

  (i)  "Projected Annual Benefit" means the Annual Benefit to which a
  Participant would be entitled under a defined benefit plan (after giving
  effect to any limitation on such benefit contained in such plan that may be
  applicable to the Member) on the assumptions that he continues Employment
  until his Normal Retirement Date thereunder, that his Compensation continues
  at the same rate as in effect for the Plan Year under consideration until
  such Normal Retirement Date, and that all other relevant factors used to
  determine benefits under such Plan remain constant for all future Plan Years.

  (ii)  The "Annual Addition" of a Member means amounts treated as Employer
  contributions, plus the Member's contributions (if any), provided that for
  Plan Years ending before December 31, 1986, only the lesser of: (1) the
  portion of this Participant contributions (if any) during such year in excess
  of 6% of his compensation, within the meaning of Code Section 415(c)(3), or
  (2) one-half of his Member contributions during such Year shall be treated as
  Annual Additions.  With respect to defined contribution plans under which
  forfeitures can occur, Annual Additions shall also include any forfeitures
  allocable during the Plan Year.  Further, amounts allocated in Plan Years
  beginning after March 31, 1984, to an individual medical account, as defined

                                     28

<PAGE>

  in Code Section 415(1), which is part of a defined benefit plan maintained by
  the Employer shall be treated as Annual Additions to a defined contribution
  plan.  Also, amounts derived from contributions paid or accrued after
  December 31, 1985, which are attributable to post-retirement medical benefits
  allocated to the separate account of a Key Employee, under a welfare benefit
  fund, as defined in Code Section 419(e), maintained by the Employer, shall be
  treated as Annual Additions to a defined contribution plan.  In no event
  shall this be construed as applying the limitations of Code Section
  415(c)(l)(B) to individual medical accounts or postretirement medical
  benefits.

  (iii)  The "Annual Benefit" of a Member means the annual amount payable
  under a defined benefit plan computed in accordance with the following rules:

  (1)  where the benefit payable under a defined benefit plan is other than in
  the form of either a straight life annuity or a qualified joint and survivor
  annuity within the meaning of Code Section 401(a)(11)(G)(iii), it shall be
  adjusted to the Actuarial Equivalent benefit in the form of a straight life
  annuity on the basis of reasonable actuarial assumptions;

  (2)  in the case of a benefit under a defined benefit plan which begins
  before age 62, such benefit shall be adjusted to the Actuarial Equivalent of
  a benefit commencing at age 62 on the basis of reasonable actuarial
  assumptions;

  (3)  in the case of a benefit under a defined case benefit plan which begins
  after age 65, such benefit shall be adjusted to the Actuarial Equivalent of a
  benefit commencing at age 65 on the basis of reasonable actuarial
  assumptions.  The adjustment described in (2) above shall not increase the
  value of a Member's Annual Benefit above $170,000 (this amount shall be
  adjusted automatically in accordance with regulations promulgated by the
  Secretary of Treasury) if the Participant's benefit under the defined benefit
  plan does not exceed $75,000 commencing at or after age 55, or the Actuarial
  Equivalent of $75,000 at age 55 in the case of a benefit commencing before
  age 55.

  (4)  "Dollar Limitation" means the limitation provided in Code Section
  415(c)(l)(A) (adjusted in accordance with regulations of the Secretary of the
  Treasury) as in effect for the particular Plan Year.

  (5)  "Prior Year" means a year, preceding the current Plan Year, in which the
  Participant was in the service of the Employer.  For purposes of the
  preceding sentence, year shall mean (in the event the Plan was in existence
  during such year) a Plan Year, or (in the event the Plan was not in existence

                                     29

<PAGE>

  during such year) a 12-month period which begins and ends on the same dates
  as the Plan Year.

  (6)  For purposes of computing the maximum allocation under either Section
  6.1(a) or Section 6.1(b), all defined benefit plans (whether or not
  terminated) of the Employer shall be treated as one defined benefit plan, and
  all defined contribution plans as defined in Code Section 414(i) (whether or
  not terminated) of the Employer shall be treated as one defined contribution
  plan.

  (7)  For purposes of Section 6.1(b)(i)(l) and (b)(ii)(l), if the Plan is a
  Top Heavy Plan, in computing the aggregate limitation on benefits and
  contributions for an Employee who participates in defined contribution and
  defined benefit plans of the Employer which are included in a Top Heavy Plan
  group, "1.0" shall be substituted for "1.25" in Section 6.1(b)(i)(l) and
  (b)(ii)(l), provided that such substitution shall not occur if the sum of the
  benefits of Key Employees in all defined contribution and defined benefits
  plans of the Employer does not exceed 90% of the total of the benefits of all
  Members, and the Employer provides either: (1) an additional benefit for non-
  key employee Members in the defined benefit plan equal to the lesser of: one
  percent (1%) of each such employee's average annual compensation multiplied
  by each such employee's years of service, or ten percent (10%) of such
  average annual compensation; or (2) an additional minimum contribution for
  non-key employee participants in the defined contribution plan equal to one
  percent (1%) of each such Member's compensation for such year.

(e)  EGTRRA Limitation on Benefits.

  (i)  This Section 6(e) shall be effective for limitation years ending after
  December 31, 2001, and thus effective as of January 1, 2002.

  (ii)  Effect on Members.  Benefit increases resulting from the increase in
  the limitations of Code Section 415(b) shall be provided to all Members who
  are Members and who have one Hour of Service on or after January 1, 2002.

  (iii)  Definitions.

  (1)  Defined benefit dollar limitation.  The "defined benefit dollar
  limitation" is $160,000, as adjusted, effective January 1 of each year, under
  Code Section 415(d) in such manner as the Secretary of the Treasury shall

                                     30

<PAGE>

  prescribe, and payable in the form of a straight life annuity.  A limitation
  as adjusted under Code Section 415(d) will apply to limitation years ending
  with or within the calendar year for which the adjustment applies. Effective
  January 1, 2005, the "defined benefit dollar limitation" is $170,000.

  (2)  Maximum permissible benefit.  The "maximum permissible benefit" is the
  defined benefit dollar limitation (adjusted where required, as provided in
  (A) and, if applicable, in (B) or (C) below, and limited, if applicable, as
  provided in (D) below).

  (A)  If the Member has fewer than 10 years of participation in the Plan, the
  defined benefit dollar limitation shall be multiplied by a fraction, the
  numerator of which is the number of years (or part thereof) of participation
  in the Plan and the denominator of which is 10.  In the case of a Member who
  has fewer than 10 Years of Service with the Employer, the defined benefit
  compensation limitation shall be multiplied by a fraction, (i) the numerator
  of which is the number of Years (or part thereof) of Service with the
  Employer and (ii) the denominator of which is 10.

  (B)  If the benefit of a Member begins prior to age 62, the defined benefit
  dollar limitation applicable to the Member at such earlier age is an annual
  benefit payable in the form of a straight life annuity beginning at the
  earlier age that is the Actuarial Equivalent of the defined benefit dollar
  limitation applicable to the Member at age 62 (adjusted under (A) above, if
  required).  The defined benefit dollar limitation applicable at an age prior
  to age 62 is determined as the lesser of (1) the Actuarial Equivalent (at
  such age) of the defined benefit dollar limitation computed using the
  interest rate and mortality table (or other tabular factor) specified in the
  Plan, and (2) the Actuarial Equivalent (at such age) of the defined benefit
  dollar limitation computed using a 5% interest rate and the applicable
  mortality table as specified in Section 1.2 of the Plan.  Any decrease in the
  defined benefit dollar limitation determined in accordance with this
  paragraph (B) shall not reflect a mortality decrement if benefits are not
  forfeited upon the death of the Member.  If any benefits are forfeited upon
  death, the full mortality decrement is taken into account.

                                     31

<PAGE>

  (C)  If the benefit of a Member begins after the Member attains age 65, the
  defined benefit dollar limitation applicable to the Member at the later age
  is the annual benefit payable in the form of a straight life annuity
  beginning at the later age that is the Actuarial Equivalent to the defined
  benefit dollar limitation applicable to the Member at age 65 (adjusted under
  (A) above, if required).  The Actuarial Equivalent of the defined benefit
  dollar limitation applicable at an age after age 65 is determined as (1) the
  lesser of the Actuarial Equivalent (at such age) of the defined benefit
  dollar limitation computed using the interest rate and mortality table (or
  other tabular factor) specified in the Plan, and (2) the Actuarial Equivalent
  (at such age) of the defined benefit dollar limitation computed using a 5%
  interest rate and the applicable mortality table specified in Section 1.2 of
  the Plan.  For these purposes, mortality between age 65 and the age at which
  benefits commence shall be ignored.

6.2  Special Rules for Benefits Payable to Highly Compensated Employees.

(a)  An Employee shall be deemed an "Affected Employee" subject to this Section
6.2 if he is a Highly Compensated Employee, and is one of the twenty-five
(25) Employees paid the greatest compensation in the current or any prior
Plan Year.

(b)  In the event of Plan termination, the benefit of any Affected Employee is
limited to a benefit that is nondiscriminatory under Code Section 401(a)(4).

(c)  The annual payments to an Affected Employee are restricted to an amount
equal to the payment that would be made on behalf of the Affected Employee
under (i) a  single life annuity that is the Actuarial Equivalent of the sum
of the Affected Employee's Accrued Benefit and other benefits payable to the
Affected Employee under the Plan, and (ii) the amount of the payments that
the Affected Employee is entitled to receive under a social security
supplement.  The restrictions in this paragraph do not apply, however, if:

  (i)  After payment to an Affected Employee of all benefits payable to the
  Affected Employee under the Plan, the value of  plan assets equals or
  exceeds 110% of the value of current liabilities, as defined in Code Section
  412(l)(7),

  (ii)  The value of benefits payable to the Affected Employee under the Plan
  is less than 1 percent of the value of current liabilities before
  distribution, or

                                     32

<PAGE>

  (iii)  The value of the benefits payable to  the Affected Employee under the
  Plan does not exceed the amount described in Code Section 411(a)(11)(A).

For purposes of subparagraphs (i), (ii) and (iii) above the value of Plan
assets and the value of current liabilities must be determined as of the same
date.  For purposes of this subsection, the term "benefit" includes, among
other benefits, loans in excess of the amounts set forth in Code Section
72(p)(2)(A), any periodic income, any withdrawal values payable to a living
employee, and any death benefits not provided for by insurance on the
Employee's life.

6.3  No Assignment of Benefits.  None of the benefits under the Plan shall be
subject to the claims of creditors of Members, Terminated Members, Retired
Members, Eligible Spouses, or Beneficiaries, and such benefits shall not be
subject to attachment, garnishment, or any other legal process whatsoever.
No Member, Terminated Member, Retired Member, Eligible Spouse, or Beneficiary
may assign, sell, borrow on, or otherwise encumber any of his beneficial
interest in the Plan and Trust Fund, nor shall any such benefits be in any
manner liable for or subject to the deeds, contracts, liabilities,
engagements, or torts of any Member, Terminated Member, Retired Member,
Eligible Spouse, or Beneficiary.  If any such Member, Terminated Member,
Retired Member, Eligible Spouse, or Beneficiary shall become bankrupt or
attempt to anticipate, sell, alienate, transfer, pledge, assign, encumber, or
charge any benefit specifically provided for herein, or if a court of
competent jurisdiction enters an order purporting to subject such interest to
the claim of any creditor, then such benefit shall be terminated and the
Trustee shall hold or apply such benefit to or for the benefit of such
Member, Terminated member, Retired Member, Eligible Spouse, or Beneficiary in
such manner as the Plan Administrator, in its sole discretion, may deem
proper under the circumstances.

However, the foregoing provision against the assignment of a Member' s
benefit under the Plan shall not apply in the case of (i) qualified domestic
relations order  which is determined by the Plan Administrator to meet the
requirements of Code Section 414(p), or (ii) the Member's liability to the
Plan due to: (A) the Member's conviction of a crime involving the Plan, (B) a
judgment, consent order, or decree in action for violation of fiduciary
standards, or (C) a settlement involving the Department of Labor or Pension
Benefit Guaranty Corporation.

6.4  Commencement of Benefits.  Notwithstanding any provision to the contrary,
the payment of benefits to the Member shall begin not later than 60 days after
the last day of the Plan Year in which the latest of (a), (b), or (c) occurs:

(a)  The Member's Normal Retirement Date;

(b)  The 10th anniversary of the date on which such Member first becomes a
Member; or

(c)  The date on which such Member terminates his service with the Employer.

Otherwise, the payment of benefits shall commence as of any earlier date
specified in this Plan. Payment of a Member's benefits shall commence not
later than April 1 of the calendar year that follows:

                                     33

<PAGE>

  (i)  for a Member who is a 5% owner (as defined in Code Section 416(i)(1)),
  the calendar year in which the Member reaches age 701/2, and

  (ii)  for each other Member, the later of the calendar year in which the
  Member (i) reaches age 701/2, or (ii) retires.

Notwithstanding any provision of the Plan to the contrary, all distributions
from the Plan shall be made in accordance with the requirements of the
regulations under Code Section 401(a)(9), including the minimum incidental
benefit distribution requirements under Section 1.401(a)(9)-2 of the Proposed
Regulations.  With respect to distributions under the Plan made for calendar
years beginning on or after January 1, 2001, the Plan will apply the minimum
distribution requirements of Code Section 401(a)(9) in accordance with
regulations under such section that were proposed on January 17, 2001,
notwithstanding any provision of the Plan to the contrary.  This provision
shall continue in effect until the end of the last calendar year beginning
before the effective date of final regulations under Code Section 401(a)(9)
or such other date as may be specified in guidance published by the Internal
Revenue Service.

6.5  Reversion.  Employer contributions are to revert to the Employer under the
following conditions:

(a)  Mistake of Fact.  In the case of an Employer contribution which is made by
the Employer by reason of a mistake of fact, such contribution shall be
returned to the Employer within one year after the payment of the
contribution.

(b)  Disqualification of Plan.  If this Plan does not initially qualify under
Code Section 401(a), Employer contributions attributable to a period for which
the Plan is disqualified shall be returned to the Employer within one year
after the date of denial of qualification of the Plan.

(c)  Nondeductible Contribution.  If any Employer contribution is determined by
the Internal Revenue Service to be nondeductible under Code Section 404, then
such Employer contribution, to the extent that is determined to be
nondeductible, shall be returned to the Employer within one year after the
disallowance of the deduction.

(d)  Plan Termination.  Upon termination of the Plan, as provided in Section
8.6 of the Plan.

                                     34

<PAGE>

                                 ARTICLE VII

                        CONTRIBUTIONS BY THE EMPLOYER

7.1  Employer Contributions.  The Plan benefits to Members, Terminated Members,
Retired Members, Spouses, and Beneficiaries of the Plan shall be satisfied to
the extent that contributions by the Employer to the Trust Fund and
investment earnings on the Trust Fund shall so permit.  Employer
contributions during any Plan Year shall be determined by the Board (a) on
the basis of the actuarial statement submitted by the Actuary employed by the
Plan Administrator on behalf of Members, Terminated Members, Retired Members,
Spouses, and Beneficiaries, (b) on the basis of the Plan's investment policy,
and (c) within the range of the minimum and maximum amounts required and
permitted by law, on the basis of the Employer's financial position as
determined by the Board from time to time.  So long as the Plan has not been
terminated or revoked and the Employer is financially able, the contribution
made by the Employer during any Plan Year shall be at least the amount of the
contribution certified by the Actuary as necessary to avoid an accumulated
funding deficiency.

7.2  Funding and Investment Policy.  From time to time, the Plan Administrator
or its delegate shall furnish the Trustee with an estimate of the amounts
required during at least the next three Plan Years to provide benefit
payments to Members, Terminated Members, Retired Members, Eligible Spouses,
and Beneficiaries.  On the basis of this estimate, and also taking into
account estimated administrative expenses of the Plan and any known or
contemplated events that are expected to have significant financial effects
on the Plan, the Trustee shall determine the short-term and long-term
liquidity needs of the Plan.  In addition to making the ultimate investment
decisions, the Trustee shall determine the broad investment policy with
respect to the Plan on the basis of the Plan's liquidity needs, on the basis
of reasonable goals as to the appropriate rate of investment return and
degree of investment risk, and on the basis of the non-binding
recommendations of the Employer.  It is expected that this broad investment
policy shall be revised from time to time to recognize changing conditions.
Alternatively, any or all of the responsibilities allocated to the Trustee in
this Section may be delegated by the Board of Directors to an investment
manager within the meaning of ERISA Section 3(38).

7.3  Payment of Expenses.  All expenses of administering this Plan and the
Trust as may be mutually agreed upon from time to time or that may arise in
connection with the Plan and Trust shall be paid from the Trust Fund, unless
the Employer pays such expenses.

                                     35

<PAGE>
                                ARTICLE VIII

                       AMENDMENT AND TERMINATION OF PLAN

8.1  Right to Amend.  The Employer reserves the right to amend this Plan or the
Trust, by a resolution adopted by the Board of Directors, without the consent
of any Member, Terminated Member, Retired Member, Eligible Spouse, or
Beneficiary, provided, however, that no amendment of this Plan or the Trust
shall deprive any Member, Terminated Member, Retired Member, Eligible Spouse,
or Beneficiary of any vested equitable interest herein nor shall such
amendment increase the duties and obligations of the Trustee except with its
consent.

8.2  Right to Terminate.  Although it is the intention of the Employer that
this Plan shall be continued and that contributions shall be made regularly
thereto each year, the Employer, by a resolution adopted by the Board of
Directors, may terminate this Plan or permanently discontinue contributions
at any time.

8.3  Allocation upon Termination.  If this Plan is terminated, the value of the
Trust Fund remaining after providing for the expenses of administration of
the Plan and Trust shall be allocated among the Members, Terminated Members,
Retired Members, Eligible Spouses, and Beneficiaries in the order of
precedence and amounts specified in ERISA Section 4044 and the regulations
thereunder.

The allocation of the Trust Fund in accordance with this Section shall be
based on the method of payment of Monthly Retirement Income or Death Benefits
specified in this Plan and shall be calculated as of the date on which this
Plan is terminated.  In the event that the Trust Fund assets on or after the
date of termination are insufficient to fund all benefits within any class,
the benefits of all higher orders of precedence shall be funded, the benefits
of all lower orders of precedence shall be unfunded, and the assets remaining
shall be allocated among the Members of such partially funded class on the
basis of their respective actuarial reserves, subject to the provisions of
ERISA Section 4044 and any regulations thereunder.

8.4  Vesting upon Termination or Partial Termination.  In the event of the
termination of the Plan, the Accrued Benefit as of the date of termination of
each Member who has not terminated his employment as of the date of
termination of the Plan shall be fully vested in his Accrued Benefit.
Similarly, in the event of a partial termination of the Plan, each Member who
is affected by such partial termination shall be fully vested in his Accrued
Benefit.

8.5  Distributions upon Termination.  The Employer shall file timely notice of
the termination with the Internal Revenue Service in order to obtain a
determination letter from the Internal Revenue Service that the Plan is
qualified upon termination under Code Section 401(a).  Within a reasonable
period of time following the receipt of a determination letter from the
Internal Revenue Service, the interest of each Member, Terminated Member,
Retired Member, Eligible Spouse or Beneficiary shall be distributable in the
form of a non-transferable annuity commencing at age 62 or 65, which annuity
shall be purchased with the assets allocated for the benefit of such person
upon termination or shall be provided for in some other manner as determined
by the Plan Administrator; provided, however, that each Member may be offered
the option of a lump sum distribution with the consent of his Eligible
Spouse, if any.
                                     36
<PAGE>

8.6  Reversions upon Termination.  Any assets remaining after the satisfaction
of all liabilities under the Plan as of the date of termination to Members,
Terminated Members, Retired Members, Eligible Spouses, and Beneficiaries,
which funds remain by reason of erroneous actuarial computation, shall be
returned to the Employer.

                                     37

<PAGE>

                                  ARTICLE IX

                              PLAN ADMINISTRATOR

9.1  Designation.  The Employer shall serve as the Plan Administrator, in which
capacity it shall generally have all the powers, duties and responsibilities
as set forth in ERISA.  It is anticipated that the Employer shall delegate
its rights, duties and responsibilities as Plan Administrator to an
administrative committee consisting of one or more persons designated from
time to time by the Board, and the Employer hereby authorizes such
delegation.

The President of the Employer (or in the event of the President's inability
or failure to act, any Vice President of such company) shall certify in
writing to the Trustee, as promptly as practicable after any change in the
membership of the administrative committee, the names of the persons then
serving as members of the committee.  The Trustee shall be entitled to rely
on the names so certified as being the authorized and acting members of the
committee until notified of any change by subsequent certification.

The administrative committee may act at a meeting or by unanimous written
consent without a meeting.  The administrative committee shall elect one of
its members as chairman, appoint a secretary, who may or may not be a
committee member, and advise the Trustee of such actions in writing.  The
secretary shall keep a record of all meetings and forward all necessary
communications to the Employer or the Trustee.  A quorum of the committee
shall consist of not less than two-thirds of the members thereof, and a
majority vote of those present shall control on all matters acted upon at a
meeting of the committee.  A dissenting committee member who, within a
reasonable time after he has knowledge of any action or failure to act by the
majority, registers his dissent in writing delivered to the other committee
members, the Employer, and the Trustee, shall not be responsible for any such
action or failure to act.

9.2  Compensation and Records.  The Plan Administrator shall serve until the
designation of a replacement by the Board of the Employer.  No compensation
shall be paid the Plan Administrator from the Trust Fund for its services.
The Plan Administrator shall keep a permanent record of its actions with
respect to the Plan, which shall be available for inspection by appropriate
parties as provided in the Code and ERISA.

9.3  Duties and Powers; Claims Review Procedures.  Subject to the limitations
of the Plan, the Plan Administrator shall from time to time establish rules for
the administration of the Plan and transaction of its business.  The records
of the Employer, as certified to the Plan Administrator, shall be conclusive
with respect to any and all factual matters dealing with the employment of a
Member.  The Plan Administrator shall have the exclusive discretionary power
to construe and interpret the Plan, and to determine all questions that may
arise thereunder relating to (a) the eligibility of individuals to
participate in the Plan, (b) the amount of benefits to which any Member or
Beneficiary may become entitled hereunder, and (c) any situation not
specifically covered by the provisions of the Plan, and the Plan
Administrator's decisions on such matters shall be final and binding on all
parties.  Any interpretation or determination made pursuant to such
discretionary authority will be upheld on judicial review, unless it is shown
to be in abuse of discretion (i.e., arbitrary and capricious).

                                     38
<PAGE>

The Plan Administrator shall pass upon any written claim for benefits under
this Plan, which claim shall be submitted by the Member, Terminated Member,
Retired Member, Eligible Spouse, or Beneficiary upon a form furnished to such
claimant by the Plan Administrator.  In the event that the claim of any
person to all or any part of any payment or benefit under this Plan shall be
denied, the Plan Administrator shall provide to the claimant, within 90 days
after receipt of such claim (unless special circumstances require an
extension of time for processing, in which written notice of such extension
shall be provided to the claimant and such decision should be rendered as
soon as possible, but in no event later than 180 days after receipt of such
claim), a written notice setting forth, in a manner calculated to be
understood by the claimant:

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

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

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

(d)  A description of the Plan's review procedures and the time limits
applicable to such procedures, including a statement of the claimant's right
to bring a civil action under Section 502(a) of ERISA following an adverse
benefit determination upon review.

Within 60 days after receipt of the above material, the claimant shall have a
reasonable opportunity to appeal the claim denial to the Plan Administrator
for a full and fair review.  The claimant or his duly authorized
representative;

(a)  May request a review upon written notice to the Plan Administrator;

(b)  May review and obtain copies of pertinent documents, records and other
information relevant to the claimant's claim for benefits; and

(c)  May submit issues and comments in writing, documents, records and other
information relating to the claim for benefits.

A decision by the Plan Administrator shall be made not later than 60 days
after receipt of a request for review, unless special circumstances require
an extension of time for processing, in which written notice of such
extension shall be provided to the claimant and such decision should be
rendered as soon as possible, but in no event later than 120 days after
receipt of such claim.  The Plan Administrator's decision on review shall be
written and shall include specific reasons for the decision, written in a
manner calculated to be understood by the claimant, with specific references
to the pertinent Plan provisions on which the decision is based.  The
decision upon review shall also include a statement that the claimant is
entitled to receive, upon request and free of charge, reasonable access to,
and copies of, all documents, records and other information relevant to the
claimant's claim for benefits and a statement of the claimant's right to
bring an action under Section 502(a) of ERISA.

                                     39

<PAGE>

All determinations with respect to questions arising in the administration,
interpretation, and application of the Plan, including the review of denied
claims, shall be conclusive and binding on all persons, subject, however, to
the provisions of the Code and ERISA.

9.4  Authorization of Payments.  The Plan Administrator shall direct the
Trustee in writing to make payments from the Trust Fund to any Member,
Terminated Member, Retired Member, Eligible Spouse, or Beneficiary who
qualifies for such payments hereunder.  Such written order to the Trustee
shall specify at least the name of such person, his address, his Social
Security number, and the amount and frequency of such payments.

9.5  No Discrimination.  The Plan Administrator shall not take action or direct
the Trustee to take any action with respect to any of the benefits provided
hereunder or otherwise in pursuance of the powers conferred herein upon the
Plan Administrator which would be discriminatory in favor of Members or
employees who are officers, shareholders, or highly compensated employees or
which would result in benefiting one Member, or group of Members, at the
expense of another, or in the application of different rules to substantially
similar sets of facts.

9.6  Retention of Agents.  The Plan Administrator may delegate its
responsibilities under this Article IX to one or more of its employees and
may employ such counsel, accountants, Actuaries, or other agents as it shall
deem advisable.  The Employer shall pay, or cause to be paid from the Trust
Fund, the compensation of such counsel, accountants, Actuaries, and other
agents and any other expenses incurred by the Plan Administrator in the
administration of the Plan and Trust.

                                     40

<PAGE>

                                  ARTICLE X

                          THE TRUST FUND AND TRUSTEE

10.1  General.  The Employer has entered into a Trust Agreement with the
Trustee to hold the funds necessary to provide the benefits as set forth in
this Plan.

10.2  Disposition of Trust Fund.  The Trust Fund shall be received, held in
Trust, and disbursed by the Trustee in accordance with the provisions of the
Trust Agreement and the provisions as set forth in this Plan.  No part of the
Trust Fund shall be used for, or diverted to, purposes other than for the
exclusive benefit of Members, Terminated Members, Retired Members, Eligible
Spouses, and Beneficiaries under this Plan prior to the satisfaction of all
liabilities hereunder with respect to such persons.  No person shall have any
interest in or right to the Trust Fund or any part thereof, except as
specifically provided for in this Plan or the Trust Agreement.

10.3  Right of Removal.  The Board of the Employer may remove the Trustee at
any time upon the notice required by the terms of the Trust Agreement and, upon
such removal or upon the resignation of the Trustee, the Employer shall
designate and appoint a successor Trustee.

10.4  Powers of Trustee.  The Trustee shall have such powers to hold, invest,
reinvest, control, and disburse funds as at that time shall be set forth in
the Trust Agreement.  In exercising such powers, the Trustee may request
instructions in writing from the Plan Administrator on any matters affecting
the Trust and may rely and act thereon.

10.5  Interest-Bearing Deposit With Employer.  The investment of all or part of
the Trust Fund in deposits which bear a reasonable rate of interest in
Southwest Georgia Bank or any other bank or financial institution which is
supervised by the United States or a State and which is a fiduciary for the
Plan is expressly authorized.

10.6  Integration of Trust Agreement.  The Trust Agreement shall be deemed to
form a part of the Plan, and all rights of Members or others under this Plan
shall be subject to the provisions of the Trust Agreement to the extent such
provisions are not contradicted by specific provisions of this Plan.

                                     41

<PAGE>

                                  ARTICLE XI

                           MISCELLANEOUS PROVISIONS

11.1  Prohibition Against Diversion.  There shall be no diversion of any
portion of the assets of the Trust Fund other than for the exclusive benefit of
Members, Terminated Members, Retired Members, Eligible Spouses, and
Beneficiaries, except as provided in Section 8.6 at the time of termination of
the Plan and Trust, or except as may otherwise be permissible under the Code
and Regulations issued thereunder.

11.2  Prudent Man Rule.  For purposes of Part 4 of Title I of ERISA, the
Employer, the Trustee, and the Plan Administrator shall each be named
fiduciaries and shall each discharge their respective duties hereunder with
the care, skill, prudence and diligence under the circumstances then prevailing
that a prudent man acting in a like capacity and familiar with such matters
would use in the conduct of an enterprise of a like character and with like
aims.  Without limiting the generality of the above, it is specifically
provided that the appointment and retention of any parties pursuant to
Article IX of the Plan are "duties" of the Employer for purposes of this
Section.

11.3  Responsibilities of Parties.  The Employer shall be responsible for the
administration and management of the Plan except for those duties
specifically allocated to the Trustee or Plan Administrator.  The Trustee
shall have exclusive responsibility for the management and control of the
responsibility for all matters specifically delegated to it by the Employer
in the Plan.  The Employer shall be deemed the Plan Sponsor for all purposes
of ERISA.

11.4  Reports Furnished Members.  The Plan Administrator shall cause to be
furnished to each Member, and to each Terminated Member, Retired Member,
Eligible Spouse, or Beneficiary receiving benefits under this Plan, in the
manner and within the time limits specified in the Code and ERISA, each of
the following:

(a)  A summary plan description and periodic revisions;

(b)  Notification of amendments to the Plan; and

(c)  A summary annual report which summarizes the annual report filed with the
Department of Labor.

11.5  Reports Available to Members.  The Plan Administrator shall make copies
of the allowing documents available at the principal office of Employer for
examination by any Member, Terminated Member, Retired Member, Eligible
Spouse, or Beneficiary:

(a)  The Plan and Trust Agreement;

(b)  The summary plan description; and

(c)  The latest annual report.

                                     42

<PAGE>

11.6  Reports Upon Request.  The Plan Administrator shall furnish to any
Member, Terminated Member, Retired Member, Eligible Spouse, or Beneficiary who
so requests in writing, once during any 12-month period, a statement
indicating, on the basis of the latest available information:

(a)  The total benefits accrued; and

(b)  The nonforfeitable benefits, if any, which have accrued, or the earliest
date on which benefits will become nonforfeitable.

The Plan Administrator shall also furnish to any Member, Terminated Member,
Retired Member, Eligible Spouse, or Beneficiary who so requests in writing,
at a reasonable charge to be prescribed by regulation of the Secretary of
Labor, any document referred to in Section 11.5.

11.7  Merger or Consolidation of Employer.  If the Employer is merged or
consolidated with another organization, or another organization acquires all
or substantially all of the Employer's assets, such organization may, but
shall not be required to, become the Employer hereunder by action of its
governing board.  Such change in Employers shall not be deemed a termination
of the Plan by either the predecessor or successor Employer.

11.8  Plan Continuance Voluntary.  Although it is the intention of the Employer
that this Plan shall be continued and its contributions made regularly, this
Plan is entirely voluntary on the part of the Employer, and the continuance
of the Plan and the payments thereunder are not assumed as a contractual
obligation of the Employer.

11.9  Suspension of Contributions.  The Employer specifically reserves the
right, in its sole and uncontrolled discretion, to modify or suspend
contributions to the Plan (in whole or in part) at any time or from time to
time and for any period or periods, or to discontinue at any time the
contributions under this Plan.

11.10  Agreement Not An Employment Contract.  This Plan shall not be deemed to
constitute a contract between the Employer and any Member or to be a
consideration or an inducement for the employment of any Member or Employee.
Nothing contained in this Plan shall be deemed to give any Member or Employee
the right to be retained in the service of the Employer or to interfere with
the right of the Employer to discharge any Member or Employee at any time
regardless of the effect which such discharge shall have upon such individual
as a Member in the Plan.

11.11  Facility of Payments.  In making any distribution to or for the benefit
of any minor or incompetent Member, Terminated Member, Retired Member, Eligible
Spouse, or Beneficiary or for the benefit of any other Member, Terminated
Member, Retired Member, Eligible Spouse, or Beneficiary who, in the opinion
of the Plan Administrator, is incapable of properly using, expending,
investing, or otherwise disposing of such distribution, then the Plan
Administrator, in its sole, absolute, and uncontrolled discretion may, but
need not, order the Trustee to make such distribution to a legal or natural
guardian or other relative of such minor or court appointed committee of any
incompetent, or to any adult with whom such person temporarily or permanently
resides; and any such guardian, committee, relative, or other person shall

                                     43

<PAGE>

have full authority and discretion to expend such distribution for the use
and benefit of such person; and the receipt of such guardian, committee,
relative or other person shall be a complete discharge to the Trustee,
without any responsibility on its part or on the part of the Plan
Administrator to see to the application thereof.

11.12  Unclaimed Benefits.  If any benefits payable to, or with respect to, a
Member are not claimed for a period of 7 years from the date of entitlement, as
determined by the Plan Administrator, and following a diligent effort to
locate such person, the person shall be presumed dead and the post-death
benefits, if any under this Plan, shall be paid pursuant to the law of
intestate succession of the State of Georgia, as in effect on the date of
payment, provided that the Member's benefits shall be reinstated in the event
that such person later files claim for such benefits with the Plan
Administrator and in the event that the Member or his Eligible Spouse or
other Beneficiary has not previously received the Actuarial Equivalent of
such benefits.  No benefits shall be paid retroactively to the date of
entitlement if the member cannot be located at such time after a diligent
search but later is found; instead, benefits with respect to such Member
shall be paid prospectively from the first date of the month coincident with
or immediately following the date on which the Member files a claim therefor
with the Plan Administrator.  Nothing in this Section shall be construed to
prohibit the Plan Administrator, in its sole discretion, from paying benefits
prior to the expiration of such 7-year period to any surviving Eligible
Spouse or other Beneficiary of a Member who cannot be located after a
diligent search has been conducted.

11.13  Governing Law.  This Plan shall be administered in the United States of
America, and its validity, construction, and all rights hereunder shall be
governed by the laws of the United States of America under ERISA.  To the
extent that ERISA shall not be held to have preempted local law, the Plan
shall be administered under the laws of the State of Georgia.  If any
provision of the Plan shall be held invalid or unenforceable, the remaining
provisions hereof shall continue to be fully effective.

11.14  Headings No Part of Agreement.  Headings of articles, sections, and
subsections of the Plan are inserted for convenience of reference.  They
constitute no part of the Plan and are not to be considered in the
construction thereof.

11.15  Merger or Consolidation of Plan.  This Plan and Trust shall not be
merged or consolidate with, nor shall any assets or liabilities be transferred
to, any other plan, unless the benefits payable to each Member if the Plan was
terminated immediately after such action would be equal to or greater than
the benefits to which such Member would have been entitled if this Plan had
been terminated immediately before such action.  Effective as of the close of
business on December 31, 2004, the Plan shall accept the merger of the
Sylvester Plan into the Plan, and, as soon as administratively practicable
thereafter, the related trust-to-trust transfer of assets and liabilities, in
accordance with the requirements of Code Section 414(l).  The merger of the
Sylvester Plan with and into the Plan shall not decrease a Member's vested
interest and shall not reduce a Member's benefits in violation of Code
Section 411(d)(6).  The Company and the Plan Administrator shall have the
authority to take such actions as may be necessary to effectuate the merger
of the Sylvester Plan with and into the Plan and the related transfer of
assets and liabilities.
                                     44

<PAGE>

11.16  Indemnification.  The Employer hereby agrees to indemnify any Employee
or Member of the Board of the Employer to the full extent of any expenses,
penalties, damages, or other pecuniary loss which such Employee or member may
suffer as a result of his responsibilities, obligations, or duties in
connection with the Plan.  Such indemnification shall be paid by the Employer
to the Employee or member to the extent that fiduciary liability insurance is
not available to cover the payment of such items, but in no event shall such
items be paid out of Plan assets.

11.17  Direct Transfer of Eligible Rollover Distributions.

(a)  Notwithstanding any provision of the Plan to the contrary, with respect to
any distribution made on or after January 1, 1993, a Distributee may elect,
at the time and in the manner prescribed by the Plan Administrator, to have
any portion of an Eligible Rollover Distribution paid directly to an Eligible
Retirement Plan specified by the Distributee in a Direct Rollover.

(b)  For the purposes of this Section 11.17, the following definitions shall
apply:

  (i)  "Eligible Rollover Distribution" shall mean any distribution of all or
  any portion of the balance to the credit of the Distributee, except that an
  Eligible Rollover Distribution shall not include:  any distribution that is
  one of a series of substantially equal periodic payments (not less frequently
  than annually) made for the life (or life expectancy) of the Distributee or
  the joint lives (or joint life expectancies) of the Distributee and the
  Distributee's designated Beneficiary, or for a specified period of ten years
  or more; any distribution to the extent such distribution is required under
  Code Section 401(a)(9); any hardship distribution described in Code Section
  401(k)(2)(B) (i)(IV); or the portion of any distribution that is not
  includable in gross income (determined without regard to the exclusion for
  net unrealized appreciation with respect to employer securities).

  (ii)  "Eligible Retirement Plan" shall mean an individual retirement account
  described in Code Section 408(a), an individual retirement annuity described
  in Code Section 408(b), an annuity plan described in Code Section 403(a), or
  a qualified trust described in Code Section 401(a), that accepts the
  Distributee's Eligible Rollover Distribution.  However, in the case of an
  Eligible Rollover Distribution to the surviving spouse, an Eligible
  Retirement Plan shall mean only an individual retirement account or
  individual retirement annuity.  An Eligible Retirement Plan shall also mean
  an annuity contract described in Code Section 403(b) and an eligible plan
  under Code Section 457(b) which is maintained by a state, political
  subdivision of a state, or any agency or instrumentality of a state or
  political subdivision of a state and which agrees to separately account for
  amounts transferred into such plan from this Plan.  The definition of
  Eligible Retirement Plan shall also apply in the case of a distribution to a
  surviving spouse, or to a spouse or former spouse who is the alternate payee
  under a qualified domestic relation order, as defined in Code Section 414(p).

                                     45

<PAGE>

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

  (iv)  "Direct Rollover" shall mean a payment to the Eligible Retirement Plan
  specified by the Distributee either by direct transfer from the Plan, or by
  delivery of the distribution check by the Distributee, provided such check is
  made out in a manner to ensure that it is negotiable only by the trustee of
  the Eligible Retirement Plan.

                                     46

<PAGE>

                                 ARTICLE XII

                             TOP-HEAVY PROVISIONS

12.1  Application.  For Plan Years beginning January 1, 1984 or later, in the
event that the Plan is determined to be a Top-Heavy Plan as hereinafter
defined, this Article XII shall become effective as of the first day of the
Plan Year in which the Plan is a Top-Heavy Plan.

12.2  Definitions.

(a)  Top Heavy Compensation.  For purposes of this Section of the Plan, Top-
Heavy Compensation means an individual's compensation (as determined under Code
Section 415(c)(3)) from the Employer for the Plan Year, as adjusted pursuant
to Code Section 415(d); provided, however, that for purposes of determining
Key Employees, Top-Heavy Compensation shall be increased by elective
contributions under a cafeteria plan (Code Section 125), elective deferrals
(Code Sections 401(k) and 401(a)(8)), and contributions to a SEP (Code
Section 402(h)(1)(B)), and, in the case of Employer contributions made
pursuant to a salary reduction agreement, increased by contributions to a
tax-sheltered annuity (Code Section 403(b)).

(b)  Minimum Benefit.  The accrued benefit equal to two percent (2%) of a
Member's average Top Heavy Compensation for each Year of Service disregarding
Years of Service when the Plan was not a Top-Heavy Plan.

(c)  Top-Heavy Plan.  A plan that is required in such year to satisfy the
requirements of Code Section 416 because the aggregate of the Accrued
Retirement Benefits of all Key Employees in the Plan exceeds sixty percent
(60%) of the aggregate of the Accrued Retirement Benefits of all Members in
the Plan, such determination to be made in accordance with the procedures
described in Code Section 416(g) and the regulations thereunder as of the
Annual Valuation Date immediately preceding such Plan Year (or in the case of
the first Plan Year, as of the last day of such Plan Year).  The Accrued
Retirement Benefit of any Member who has not performed any services for the
Employer in the past five years shall not be included.  For purposes of
determining whether the Plan is a Top-Heavy Plan, the Plan shall be
aggregated with all other plans maintained by the Employer which are required
to be aggregated with the Plan in order for the Plan to meet the requirements
of Code Sections 401(a)(4) and 410, and all other plans maintained by the
Employer in which a Key Employee is a Participant (the "Required Aggregation
Group.")  The Plan may also be aggregated with any other plans maintained by
the Employer (the "Permissive Aggregation Group") so long as such aggregation
would not prevent the aggregated group from satisfying the requirements of
Code Sections 401(a)(4) and 410.

12.3  Accrual of Minimum Benefit.  For any Plan Year in which the Plan is a
Top-Heavy Plan, the Minimum Benefit as defined in Section 12.2(c) shall be
accrued for each Member who is not a Key Employee, provided that the total
Minimum Benefit accrued for a non-Key Employee under this provision shall not
exceed 20% of his Top Heavy Compensation.

                                     47

<PAGE>

12.4  Vesting.  If for any Plan Year or Years the Plan is a Top-Heavy Plan, an
Employee's vested interest in his Accrued Benefit for such Plan Year and all
preceding Plan Years shall not be less than as determined under the following
vesting schedule:
<TABLE>
<CAPTION>
    Years of Service    Vested Percentage    Forfeited Percentage
    <S>                     <C>                      <C>
    Less than 2               0%                     100%
         2                   20%                      80%
         3                   40%                      60%
         4                   60%                      40%
         5                   80%                      20%
         6                  100%                       0%
</TABLE>
If the Plan ceases to be a Top-Heavy Plan, the vesting schedule in this
Section 12.4 shall revert to the provisions in Section 5.1; provided that any
portion of the accrued benefit that was nonforfeitable before the Plan ceases
to be a Top-Heavy Plan shall remain nonforfeitable, and further provided that
any Member who has three (3) or more Years of Service at the time the Plan
ceases to be a Top-Heavy Plan shall have the right to elect during the
Election Period (as hereinafter defined) to continue to have his vested
interest determined in accordance with the vesting schedule contained in this
Section 12.4.

For the purposes of this Section 12.4, Years of Service shall include Service
prior to the Effective Date, and shall include Service during the Election
Period.  The Election Period shall be the period during which such
Participants may make such vesting schedule election and shall begin on the
date of the adoption of the amendment which changes the vesting schedule and
shall end on the later of:

  (i)  The date which is 60 days after the adoption of the amendment which
  changes the vesting schedule;

  (ii)  The date which is 60 days after the effective date of the amendment
  which changes the vesting schedule; or

  (iii)  The date which is 60 days after the date such Participant is notified
  in writing of the amendment which changes the vesting schedule.

12.5  Post-EGTRRA Top-Heavy Provisions.

(a)  Effective date.  This Section 12.5 shall apply for purposes of determining
whether the Plan is a Top-Heavy Plan under Code Section 416(g) for Plan Years
beginning after December 31, 2001, and whether the Plan satisfies the minimum
benefits requirements of Code Section 416(c) for such years.  This Section
12.5 amends Sections 12.1 through 12.4 of the Plan.

(b)  Determination of Top-Heavy Status.

  (i)  Key Employee.  Key Employee means any Employee or former Employee
  (including any deceased Employee) who at any time during the Plan Year that
  includes the determination date was an officer of the Employer having annual

                                     48

<PAGE>

  compensation greater than $135,000 (as adjusted under Code Section 416(i)(1)
  for Plan Years beginning after December 31, 2005), a 5% owner of the
  Employer, or a 1% owner of the Employer having annual compensation of more
  than $150,000.  For this purpose, annual compensation means compensation
  within the meaning of Code Section 415(c)(3).  The determination of who is a
  Key Employee will be made in accordance with Code Section 416(i)(1) and the
  applicable regulations and other guidance of general applicability issued
  thereunder.

  (ii)  Determination of Present Values and Amounts.  This Section 12.5(b)(ii)
  (2) shall apply for purposes of determining the present value of accrued
  benefits of Employees as of the determination date.

  (1)  Distributions During Year Ending on the Determination Date.  The present
  value of accrued benefits of an Employee as of the determination date shall
  be increased by the distributions made with respect to the Employee under the
  Plan and any plan aggregated with the Plan under Code Section 416(g)(2)
  during the 1-year period ending on the determination date.  The preceding
  sentence shall also apply to distributions under a terminated plan which, had
  it not been terminated, would have been aggregated with the Plan under Code
  Section 416(g)(2)(A)(i).  In the case of a distribution made for a reason
  other than separation from service, death, or disability, this provision
  shall be applied by substituting "5-year period" for "1-year period."

  (2)  Employees Not Performing Services During Year Ending on the
  Determination Date.  The accrued benefits of any individual who has not
  performed services for the Employing Unit during the 1-year period ending on
  the determination date shall not be taken into account.

(c)  Minimum Benefits.  For purposes of satisfying the minimum benefit
requirements of Code Section 416(c)(1), in determining years of Service with
the Employer, any Service with the Employer shall be disregarded to the
extent that such Service occurs during a Plan Year when the plan benefits
(within the meaning of Code Section 410(b)) no Key Employee or former
Employee.

                                     49

<PAGE>

IN WITNESS WHEREOF, the Employer has caused this amended and restated Plan to
be executed this the 21st day of December, 2005, to be effective as of March
1, 2005.

                                      EMPLOYERS:

                                      SOUTHWEST GEORGIA FINANCIAL CORPORATION
                                      By:      /s/DeWitt Drew
                                      Office:  President & CEO

(CORPORATE SEAL)                      Attest:  /s/Donna Lott
                                      Office:  Secretary

                                      SOUTHWEST GEORGIA BANK
                                      By:      /s/DeWitt Drew
                                      Office:  President & CEO

(CORPORATE SEAL)                      Attest:  /s/Donna Lott
                                      Office:  Secretary

                                     50EXHIBIT 10.7

                   EMPLOYEE STOCK OWNERSHIP PLAN AND TRUST
                                      OF
                   SOUTHWEST GEORGIA FINANCIAL CORPORATION

           (As Amended and Restated Effective As Of January 1, 2005)

THIS AGREEMENT is made and entered into as of the 21st day of December, 2005,
by and between Southwest Georgia Financial Corporation, a holding company
organized under the laws of the State of Georgia (referred to herein as the
"Company") and Southwest Georgia Bank, a state banking association, as
trustee (referred to herein as the "Trustee");

                             W I T N E S S E T H:

WHEREAS, the Company maintains the Southwest Georgia Financial Corporation
Employee Stock Ownership Plan and Trust (the "Plan"); and

Effective January 1, 2000, the Plan was amended and restated to comply with
the Tax Reform Act of 1986, as amended; the pension provisions of the
General Agreement on Tariffs and Trade ("GATT"); the Uniformed Services
Employment and Reemployment Rights Act of 1994 ("USERRA") the Small Business
Job Protection Act of 1996 ("SBJPA"), the Tax Reform Act of 1997 ("TRA
'97"), the Internal Revenue Restructuring and Reform Act of 1998, and the
Community Renewal Tax Relief Act of 2000.

This amendment and restatement of the Plan is effective as of January 1,
2005 to incorporate the prior amendments made to the Plan and for certain
other purposes.

The provisions of this amendment and restatement of the Plan shall apply
only to those eligible employees who terminate employment with the Company
on or after January 1, 2005 or such later date as may apply for a provision
which becomes effective afterwards.  Benefits payable to or on behalf of a
Participant who terminates employment prior to January 1, 2005 shall not be
affected by the terms of any Plan amendment adopted after such Participant's
termination of employment unless the amendment provides otherwise.

<PAGE>

                               Table of Contents                          Page

ARTICLE I  DEFINITIONS                                                       1
1.1     Account Balance                                                      1
1.2     Adoption Date                                                        1
1.3     Annual Compensation                                                  1
1.4     Annual Valuation Date                                                1
1.5     Authorized Leaves of Absence                                         1
1.6     Beneficiary                                                          1
1.7     Board                                                                1
1.8     Break in Service                                                     2
1.9     Code                                                                 2
1.10    Company                                                              2
1.11    Effective Date                                                       2
1.12    Eligible Participant                                                 2
1.13    Employee                                                             2
1.14    Employer                                                             2
1.15    Employer Contribution Account                                        2
1.16    Employer Stock                                                       3
1.17    Employment                                                           3
1.18    ERISA                                                                3
1.19    ESOP Committee                                                       3
1.20    Fiduciaries                                                          3
1.21    FMLA Leave                                                           3
1.22    Hour of Service                                                      3
1.23    Normal Retirement Date                                               5
1.24    Participant                                                          5
1.25    Plan                                                                 5
1.26    Plan Administrator                                                   5
1.27    Plan Year                                                            5
1.28    Qualified Election Period                                            5
1.29    Service                                                              5
1.30    Trust (or Trust Fund)                                                5
1.31    Trustee                                                              5
1.32    Year of Service                                                      5

ARTICLE II  PARTICIPATION AND SERVICE                                        6
2.1     Participation                                                        6
2.2     Service                                                              7
2.3     Effect of Break in Service                                           7
2.4     Inactive Account Status                                              8
2.5     Transfers of Employment Among Employers                              9
2.6     Election Not to Participate                                          9

                                     i

<PAGE>

                               Table of Contents                          Page
                                  (continued)

2.7     Qualified Military Service                                           9

ARTICLE III  CONTRIBUTIONS                                                  10
3.1     Employer Contributions                                              10
3.2     Fund for Exclusive Benefit of Participants                          10
3.3	Special Limitation on Allocations for Plan
        Years to Which Code Section 415(c)(6) Applies                       11

ARTICLE IV  INTERESTS OF PARTICIPANTS                                       12
4.1     Accounts of Participants                                            12
4.2	Allocation of Shares of Employer Stock, Income,
        Expense, Fluctuations in Asset Value, Etc.                          12
4.3     Allocation of Employer Contributions                                13
4.4     Maximum Additions                                                   14
4.5     Directed Investments By Eligible Participants                       15

ARTICLE V  BENEFITS                                                         17
5.1     Normal Retirement Benefits                                          17
5.2     Disability Benefits                                                 17
5.3     Postponed Retirement                                                17
5.4     Death Benefits                                                      17
5.5     Benefits on Termination of Employment                               17
5.6     Payment of Benefits                                                 18
5.7	Restrictions on Participants' Right To Dispose
        of Employer Stock; Employer's and Plan's Right
        of First Refusal                                                    20
5.8	Participant's Right to Put Employer Stock to
        the Company and the Plan                                            21
5.9     Securities Laws Restrictions On Resales                             22
5.10    Maintenance of Accounts Prior to Payout                             22
5.11    Present Value of Payments                                           23
5.12    Commencement of Payments                                            23
5.13    Error in Participant's Account                                      26
5.14    No Other Benefits or Withdrawals                                    26

                                     ii

<PAGE>

                               Table of Contents                          Page
                                  (continued)

5.15    Voting Rights                                                       26
5.16    Tender or Exchange Offer for Company Stock                          27
5.17    Appraisal of Employer Stock                                         28
5.18    Direct Transfer of Eligible Rollover Distributions                  28

ARTICLE VI  DESIGNATION OF BENEFICIARY                                      30

ARTICLE VII  ADMINISTRATION                                                 31
7.1	Allocation of Responsibility Among Fiduciaries
        for Plan and Trust Administration                                   31
7.2     Appointment of Plan Administrator                                   31
7.3     Claims Procedure                                                    32
7.4     Records and Reports                                                 32
7.5     Other Plan Administrator Powers and Duties                          32
7.6     Rules and Decisions                                                 33
7.7     Authorization of Benefit Payments                                   33
7.8     Application and Forms for Benefits                                  33
7.9     Payment for Benefit of Disabled or Incapacitated Person             33
7.10    Notices to Trustee                                                  34
7.11    Indemnification by the Company                                      34

ARTICLE VIII  POWERS, DUTIES AND RESPONSIBILITIES OF THE TRUSTEE            35
8.1     Establishment and Acceptance of Trust                               35
8.2     Investment of Trust Fund                                            35
8.3     Discharge of Duties                                                 36
8.4     Prohibited Transactions                                             36
8.5     Delegation of Responsibilities                                      37
8.6     Powers of Trustee                                                   37
8.7     Payments From The Fund                                              39
8.8     Payment of Compensation, Expenses and Taxes                         40
8.9     Accounting                                                          40
8.10    Bond                                                                40

                                     iii

<PAGE>

                               Table of Contents                          Page
                                  (continued)

8.11    Resignation or Removal of the Trustee                               40

ARTICLE IX  AMENDMENT OF THE PLAN                                           42

ARTICLE X  DISCONTINUANCE OF CONTRIBUTIONS AND TERMINATION OF PLAN          43
10.1    Intention to Continue Plan                                          43
10.2    Termination or Partial Termination of Plan                          43
10.3    Internal Revenue Service Approval                                   43
10.4    Discontinuance of Contributions                                     44

ARTICLE XI  MISCELLANEOUS                                                   45
11.1    Participants' Rights, Acquittance                                   45
11.2    Spendthrift Clause                                                  45
11.3    Participation of Adopting Employers                                 45
11.4    Qualification of Plan as Condition                                  46
11.5    Successor Employer                                                  46
11.6    Transfer of Plan Assets                                             47
11.7    Delegation of Authority by the Company                              47
11.8    Construction of Agreement                                           47
11.9    Headings                                                            47

ARTICLE XII  TOP-HEAVY PLAN PROVISIONS                                      48
12.1    Application                                                         48
12.2    Definitions                                                         48
12.3    Allocation of Minimum Contribution                                  49
12.4    Post-EGTRRA Top-Heavy Provisions                                    49

                                     iv

<PAGE>

                                   ARTICLE I

                                  DEFINITIONS

The following words and phrases when used herein shall have the meanings set
forth below unless a different meaning is plainly required by the context.
The masculine gender wherever used herein shall be deemed to include the
feminine.  Words in the singular shall be read and construed as though used
in the plural in all cases where they would so apply, and vice versa.

1.1	Account Balance - The amount standing to the credit of a Participant in
his Employer Contribution Account, which shall at all times be fully vested.

1.2     Adoption Date - The date this plan was originally effective, namely
July 8, 1981.

1.3     Annual Compensation - A Participant's total compensation paid by the
Employer for the Plan Year including wages, salary, overtime pay, bonuses,
and any amounts contributed by the Employer on behalf of an Employee
pursuant to a salary reduction agreement which is not includible in the
gross income of the Employee under Code Sections 125, 132(f)(4), 401(k),
402(a)(8), 402(h), or 403(b), but excluding commissions, any indirect
payments such as contributions to this Plan or any other profit sharing
plan, pension plan, group insurance plan or welfare plan, and income from
the exercise of stock options, stock appreciation rights, restricted stock
units, restricted stock or other stock awards.  The Annual Compensation of
each Participant taken into account in determining contributions and
allocations for any Plan Year beginning after December 31, 2004, shall not
exceed $210,000, as adjusted for cost-of-living increases in accordance with
Code Section 401(a)(17)(B).  The cost-of-living adjustment in effect for a
calendar year applies to Annual Compensation for the determination period
(the Plan Year or other consecutive 12-month period over which Annual
Compensation is otherwise determined under the plan) that begins with or
within such calendar year.

1.4	Annual Valuation Date - December 31 of each year while the Plan is in
effect.

1.5	Authorized Leaves of Absence - Any absence authorized by the Employer
under the Employer's standard personnel practices, provided that all persons
under similar circumstances must be treated alike in the granting of such
Authorized Leaves of Absence pursuant to Section 2.7, and provided further
that the Employee returns within the period of authorized absence.  An
absence due to service in the armed forces of the United States shall be
considered an Authorized Leave of Absence pursuant to Section 2.7.

1.6	Beneficiary - Any person or persons (natural or otherwise) designated by a
Participant on a form supplied by the ESOP Committee to receive benefits
payable in the event of the death of the Participant, or in the absence of
any such designated person(s), such other person(s) determined to be the
beneficiary under Article VI hereof.

1.7	Board - The Board of Directors of Southwest Georgia Financial Corporation,
a Georgia corporation.

                                     1

<PAGE>

1.8	Break in Service - A twelve-month computation period in which the subject
Employee completes no more than 500 Hours of Service.

1.9	Code - The Internal Revenue Code of 1986, as amended, and the regulations
established pursuant thereto and the rulings issued thereunder, as they now
exist or as they may hereafter be amended or modified.

1.10	Company - Southwest Georgia Financial Corporation, a Georgia corporation.

1.11	Effective Date - The date upon which this amendment and restatement of the
Plan is effective, namely January 1, 2005.  The Plan was originally
effective as of July 8, 1981.

1.12	Eligible Participant - Any Employee who (i) is credited with at least ten
(10) years of participation in the Plan, (ii) who has attained at least the
age of fifty-five (55), and (iii) who is a Participant at the time of any
election under Section 4.5.

1.13	Employee - Any person who is an employee (such term having its
customary meaning) of the Employer and who is receiving remuneration for
personal services rendered to the Employer (or who is on an Authorized Leave
of Absence).  Provided, however, that for purposes of this Plan, the term
Employee shall not include any person whose terms and conditions of
employment are determined by collective bargaining with a union or an
affiliate thereof representing such persons and with respect to whom
inclusion in this Plan has not been provided for in the collective
bargaining agreement setting forth those terms and conditions.  In addition,
the term Employee shall include leased employees within the meaning of Code
Section 414(n)(2) unless (i) such leased employees constitute less than
twenty percent (20%) of the Employer's non-highly compensated work force
within the meaning of Code Section 414(n)(5)(C)(ii), and (ii) such leased
employees are covered by a plan described in Code Section 414(n)(5), in
which event such leased employees shall not be considered Employees for
purposes of this Plan.  Leased employees shall not be eligible to
participate in the Plan.  An individual classified as an independent
contractor or other individual under contract with an Employer and
classified by the Employer as a non-Employee shall not be eligible to
participate in the Plan; provided, however, that if any individual
classified by an Employer as an independent contractor or other non-Employee
designation is later required by action of the Internal Revenue Service,
Department of Labor or any other governmental agency to be classified as an
Employee, such individual shall not be an eligible Employee prior to such
reclassification and, after such reclassification, the individual's
participation shall be in accordance with the rules established by the
Company.

1.14	Employer - The Company and any other business enterprise duly adopting
for the exclusive benefit of its eligible employees (and their beneficiaries)
the provisions of this Plan in accordance with the terms hereof.

1.15    Employer Contribution Account - The account maintained for a
Participant to record his share of the contributions of the Employer and
adjustments relating thereto in accordance with Article IV.

                                     2

<PAGE>

1.16	Employer Stock - The common stock, par value $1.00 per share, of
Southwest Georgia Financial Corporation.  Employer Stock shall also include any
securities substituted for such stock by way of recapitalization,
reorganization, merger or consolidation.  The Plan shall not hold or invest
in any Employer Stock unless such securities are (i) common stock which is
readily tradable in an established market or (ii) if there is no such
readily tradable common stock, then common stock having a combination of
voting power and dividend rights equal to or in excess of that class of
common stock having the greatest voting power and that class of common stock
having the greatest dividend rights; provided that noncallable preferred
stock which is convertible at any time at a reasonable price into common
stock having the characteristics described above may be used.

1.17	Employment - Service as an Employee of the Employer.  The term
"Reemployment" shall mean Employment following a Break in Service.  The
terms "Employed" and "Reemployed" shall be used in the same sense as the
terms Employment and Reemployment, respectively.

1.18	ERISA - The Employee Retirement Income Security Act of 1974, as amended
from time to time.

1.19	ESOP Committee - The committee appointed by the Board as the Plan
Administrator to, among its other duties:  (i) convey the directions of
Participants to the Trustee as to the voting or tender of shares of Employer
Stock under Article V that are allocated to Participants' accounts and to
notify the Trustee as to the voting of allocated shares of Employer Stock
for which it does not receive timely directions from Participants and the
tender of unallocated shares of Employer Stock in accordance with Article V;
(ii) direct the Trustee as to the acquisition or disposition of Employer
Stock, including the number of shares to purchase, the price of such shares
and when to acquire such shares as provided in Section 8.2; and (iii) direct
the Trustee to borrow funds to acquire Employer Stock, including the terms,
amount and timing of any exempt loan.  In the absence of the appointment of
an ESOP Committee, the Company shall assume such responsibilities, except as
otherwise restricted in the Plan.  If the ESOP Committee (or any committee
which is carrying out any or all of the functions of the ESOP Committee)
decides that it cannot perform the functions required under Article V with
respect to the voting or tender of shares of Employer Stock because of
restrictions under ERISA or the Code, the Board shall designate a person,
committee or entity to perform such functions.

1.20	Fiduciaries - The named fiduciaries, who shall be the Employer, the
ESOP Committee and the Trustee, and other parties designated as fiduciaries by
such named fiduciaries in accordance with the powers herein provided, but
only with respect to the specific responsibilities of each for Plan and
Trust administration as set forth herein.

1.21	FMLA Leave - The leave of absence taken by an Employee, on either a
paid or unpaid basis, in accordance with the Family and Medical Leave Act of
1993 and in connection with any effective similar state family leave law.

1.22	Hour of Service - Each Employee shall be credited with an Hour of
Service for:

                                     3

<PAGE>

(1)	Each hour for which such Employee is paid, or entitled to payment, by
the Employer for the performance of duties.  These hours shall be credited to
the Employee for the computation period in which the duties are performed;
and

(2)	Each hour for which such Employee is paid, or entitled to payment, by
the Employer on account of a period of time during which no duties are
performed (irrespective of whether the employment relationship has terminated)
due to vacation, holiday, illness, incapacity (including disability), jury
duty, military duty or leave of absence, provided, however, that under this
paragraph (2):

(i)	No more than 500 Hours of Service shall be credited for any single
continuous period (whether or not such period occurs in a single computation
period) during which the Employee performs no duties:

(ii)	No hours shall be credited if such payment is made or due under a plan
maintained by the Employer solely for purposes of complying with applicable
worker's compensation, unemployment insurance or disability insurance laws;
and

(iii)	No hours shall be credited for a payment which reimburses an Employee
for medical or medically related expenses incurred by the Employee; and

(3)	Each hour for which back pay, irrespective of mitigation of damages, is
either awarded or agreed to by the Employer.  These hours shall be credited
to the Employee for the computation period to which the award or agreement
pertains rather than the period in which the award, agreement, or payment is
made.  The same Hours of Service shall not be credited under paragraphs (1)
or (2), as the case may be, and this paragraph (3).  Crediting of hours for
back pay awarded or agreed to with respect to periods described in paragraph
(2) shall be subject to the limitations of that paragraph.

(4)	Hours of Service credited under the Plan shall be calculated and
credited subject to the rules and restrictions set forth in Department of Labor
Regulations Section 2530.200b-2(b), (c) and (f) which are incorporated
herein by this reference.

(5)	The method of determining Hours of Service under the Plan shall be in
accordance with Department of Labor Regulations Section 2530.200b-3 and
shall be applied in a consistent and nondiscriminatory manner to Employees
or classes of Employees.

(6)	For purposes of determining whether a Break in Service has occurred for
participation and vesting purposes, for Plan Years beginning on or after
January 1, 1985, Hours of Service shall also include hours for maternity or
paternity absences in accordance with Section 2.3(e).  During such absence,
the Employee shall receive credit for Hours of Service equal to the number
of hours that normally would have been credited during the absence, or if
unknown, then eight hours per day of absence, provided that the credit for
Hours of Service on account of the birth or placement of a child with the
Employee by adoption shall not exceed 501 Hours of Service per absence.
Hours of Service on account of pregnancy or adoption shall only be required
to be credited if, in the Plan Year in which the maternity or paternity

                                     4

<PAGE>

absence begins, crediting of such hours is necessary to prevent a Break in
Service that year; otherwise, such hours shall be credited in the following
Plan Year.

1.23	Normal Retirement Date - The first day of the month coincident with or
next following the date on which a Participant attains the age of sixty-five
(65) years.  A Participant's right to his retirement benefits shall become
non-forfeitable upon his attainment of age sixty-five (65).

1.24	Participant - Any Employee who has qualified under the terms of the
Plan for participation therein and who remains so qualified.

1.25	Plan - The Plan and Trust set forth herein, as amended from time to
time, which shall be known as the Employee Stock Ownership Plan and Trust of
Southwest Georgia Financial Corporation.

1.26	Plan Administrator - The ESOP Committee, or in its absence, the
Company or any administrative committee appointed for that purpose by the
Company.

1.27	Plan Year - January 1 through the next following December 31.

1.28	Qualified Election Period - The six (6) Plan Year periods beginning
with later of (a) the first Plan Year in which the relevant Participant first
became an Eligible Participant, or (b) the first Plan Year beginning after
December 31, 1986.

1.29	Service - A Participant's period of employment with the Employer, or
any predecessor of the Employer, whether a corporation, partnership or sole
proprietorship, and any corporation, sole proprietorship or partnership that
is a member of a controlled group of corporations that includes the
Employer, or is under common control, or is a member of an affiliated
service group that includes the Employer, or is related through the leasing
of employees, as determined under Code Section 414(b), (c), (m) and (n).

1.30	Trust (or Trust Fund) - The fund known as the Employee Stock Ownership
Plan Trust of Southwest Georgia Financial Corporation, maintained in
accordance with the terms of the trust agreement, as amended from time to
time, which constitutes a part of the Plan.

1.31	Trustee - Southwest Georgia Bank, a state banking association, and any
successor trustee(s) designated in the manner provided in the Plan and
accepting such trust as provided herein.

1.32	Year of Service - The applicable 12-month period during which the
Employee completes at least 1,000 Hours of Service.  Year of Service shall
include past service with any Employer to the extent provided hereunder,
provided there shall be no duplication of benefits.

                                     5

<PAGE>

                                  ARTICLE II

                           PARTICIPATION AND SERVICE

2.1	Participation

(a)	Participation Requirements Prior to January 1, 1993 - An Employee shall
become a Participant as of the January 1 or July 1 (the "Entry Date")
coincident with or next following the date on which the Employee first
completes two (2) Years of Service, provided that such Employee is Employed
on such Entry Date.  Notwithstanding the foregoing, an Employee who was
actively employed on January 7, 1991 shall become a Participant on January
7, 1991 and shall be eligible for an allocation of the Employer's
contribution for the Plan Year ending December 31, 1991 in accordance with
Section 4.3 based on his Annual Compensation during such Plan Year without
regard to his Hours of Service for such Plan Year provided he is in active
Employment on December 31, 1991.

(b)	Participation Requirements from January 1, 1993 through May 31, 1997 -
An Employee who is first credited with an Hour of Service on or before May 31,
1997 who did not become a Participant prior to January 1, 1993 shall be
eligible to participate on (i) January 1, 1993 if the Employee has completed
a ninety (90) day evaluation period on or before January 1, 1993, or (ii) in
the case of any other eligible Employee, the first day of the month
following the completion of a ninety (90) day evaluation period which shall
begin on the first date the Employee is credited with an Hour of Service,
provided the Employee is employed on such date.  An Employee who is employed
in a janitorial position shall not be eligible to participate.

(c)	Participation Requirements Effective as of June 1, 1997 - An Employee
who is first credited with an Hour of Service on or after June 1, 1997 shall
become a Participant on the first day of the month following the date on
which the Employee completes two (2) Years of Service, provided that such
Employee is Employed on such date.  An Employee who is employed in a
janitorial position shall not be eligible to participate.

(d)	Computation of Service - For purposes of determining an Employee's
eligibility to participate under Section 2.1, the computation period
initially to be taken into account to determine whether the Employee has
completed a Year of Service shall be the 12-month period commencing with the
date of the Employee's Employment.  In the event that the Employee fails to
be credited with at least 1,000 Hours of Service during this initial
computation period, the eligibility computation period shall be the first
Plan Year commencing after the Employee's date of Employment and succeeding
Plan Years.  If the Employee is credited with at least 1,000 Hours of
Service during the 12-month period commencing with the date of the
Employee's Employment, the computation period used to determine whether the
Employee has been credited with the second Year of Service, shall be the 12-
month period beginning on the first anniversary of the Employee's Employment
commencement date and,  if necessary, succeeding years based on the
Employee's date of Employment.

(e)	Service with Acquired Employers - If an Employee was employed by an
employer who was acquired by the Company or an affiliate of the Company
(either as an acquisition of stock or assets), for purposes of determining

                                     6

<PAGE>

the Employee's eligibility to participate, the Employee's last continuous
period of service with such acquired employer shall be credited only as
provided in Schedule A.

(f)	Participation Exclusion Effective as of May 1, 1999 - Notwithstanding
the other provisions of this Section 2.1, effective May 1, 1999, any Employee
who is employed on an exclusively commissioned basis shall not be eligible
to participate in the Plan.

2.2	Service - A Participant's eligibility for benefits under the Plan shall
be based on his Years of Service determined as follows:

(a)	Service Prior to the Adoption Date - With regard to an Employee who was
Employed on the Adoption Date, his Years of Service with the Employer prior
to and including the Adoption Date shall be counted as Service hereunder,
including periods of Authorized Leave of Absence.  In addition, an
Employee's Years of Service with Moultrie National Bank (now, Southwest
Georgia Bank) prior to the Adoption Date shall be counted as Service
hereunder.

(b)	Service From and After the Adoption Date - Subject to subsection (a)
and the provisions which follow, an Employee shall accrue a Year of Service for
each Plan Year in which he has 1,000 or more Hours of Service.  Provided,
however, that if the Employee has completed at least 1,000 Hours of Service
during the 12-month period commencing on the date of his Employment and such
period overlaps two Plan Years in neither of which has the Employee
completed at least 1,000 Hours of Service, he shall nevertheless be credited
with a Year of Service for the Plan Year in which he becomes a Participant
(or in which he becomes eligible for re-participation) in the Plan.

(c)	Service of Acquired Employers - If an Employee was employed by an
Employer who was acquired by the Company or an affiliate of the Company (either
by acquisition of stock or assets), for purposes of determining the Employer's
eligibility to participate, the Employee's last continuous period of service
with such acquired Employer shall be credited only as provided in
Schedule A.

2.3	Effect of Break in Service - In the event a Participant, or an Employee
who was not a Participant, incurs a Break in Service, the following
provisions shall apply to his participation in the Plan:

(a)	A Participant shall remain a Participant until such time as he incurs a
Break in Service;

(b)	In the case of an Employee who was a Participant when he incurred a
Break in Service, he will again be considered a Participant on the date he
completes one Hour of Service after the Break in Service; and

(c)	If an Employee who is not a Participant has a Break in Service, he must
satisfy the eligibility requirements of Section 2.1 for participation as if
he were a new Employee whose Employment commenced on the first date that he
completed an Hour of Service after the last date of the computation period
in which the Break in Service occurred, provided that his earlier period of

                                     7

<PAGE>

service will be counted if his Break in Service period does not equal or
exceed five years.

(d)	Computation Period - The Plan Year shall be the computation period for
purposes of determining whether a Break in Service has occurred.  The first
Plan Year computation period for this purpose shall be, in the case of
Employees who were Participants on the Effective Date, the Plan Year
commencing on said date and shall be, in the case of Employees who
thereafter become Participants, the Plan Year which includes the last day of
the computation period during which the Participant satisfies the
requirements for participation as set forth in Section 2.1 above.

(e)	Maternity or Paternity Leave - In the case of an Employee who is absent
from Employment on account of (i) the Employee's pregnancy, (ii) the birth
of a child of the Employee, (iii) the placement of a child with the Employee
in connection with the adoption of the child by the Employee or (iv) an
absence due to the need for caring for such child for a period beginning
immediately following such birth or placement, the Plan shall treat as Hours
of Service, solely for purposes of determining whether a Break in Service
has occurred, the following hours:

(i)	the Hours of Service which otherwise would normally have been credited
to such Employee but for such absence; or

(ii)	if the Hours of Service in (i) cannot be determined, then eight (8)
Hours of Service for each day of such absence.

However, such Hours of Service credited under this Section 2.3(e) shall not
exceed 501 Hours of Service for each such absence.

The Hours of Service credited under this Section 2.3(e) shall be credited in
the Plan Year in which the absence begins only if an Employee would be
prevented from incurring a Break in service in such Plan Year.  In any other
case, such hours shall be credited in the immediately following Plan Year.
The Employee shall not be entitled to receive credit for maternity or
paternity leave under this Section 2.3(e) unless such Employee furnishes to
the Plan Administrator within such reasonable time period as the Plan
Administrator may establish evidence that the absence is on account of one
of the four (4) reasons specified in the first paragraph of this Section
2.3(e) and evidence of the duration of such absence.

(f)	For purposes of determining whether a Break in Service has occurred for
purposes of participation and vesting with respect to an Employee who
returns to work following an FMLA Leave, for periods on and after August 5,
1993, any period of unpaid FMLA Leave shall not be treated as or counted
toward a Break in Service.  Unpaid FMLA Leave shall not be counted in Hours
of Service except to the extent Hours of Service are otherwise credited for
any unpaid leave of absence by the Employer.

2.4	Inactive Account Status - In the event that any Participant (excluding
an Employee whose employment is terminated) completes more than 500 Hours of
Service but less than 1,000 Hours of Service in any Plan Year of his

                                     8

<PAGE>

participation, or if during a Plan Year a Participant has no more than 500
Hours of Service but is on an Authorized Leave of Absence which would
prevent him from having a Break in Service, his Employer Contribution
Account shall be placed on inactive status.  In such case, such Plan Year
shall not be considered as a Year of Service, and the Participant shall not
share in the Employer's contribution allocations made pursuant to Section
4.3 for any such Plan Year, but he shall continue to receive income
allocations in accordance with Section 4.2.  In the event such Participant
has 1,000 Hours of Service in a subsequent Plan Year, his Employer
Contribution Account shall revert to active status for such Plan Year with
full rights and privileges under this Plan restored.

2.5	Transfers of Employment Among Employers - Subject to Section 2.3, in
computing Service hereunder, the period of an Employee's employment with any
other member of a group of related employers which includes the Employer
shall be counted for participation and vesting purposes, and a transfer of
an Employee from the employ of one such member to the employ of another
member shall not interrupt Employment.  Related employers shall be
determined under Code Section 414(b), (c), (m) and (n) to include members of
a controlled group of corporations, trades or businesses under common
control, members of an affiliated service group, and entities related
through the leasing of employees.  In the event any Participant during the
course of any Plan Year is employed simultaneously by more than one such
member, he shall be entitled to an allocation under Section 4.3 hereof by
taking into account his aggregate Annual Compensation from such simultaneous
members.  Further, if the Employee was previously Employed in a job
classification which precludes such Employee from participation in the Plan,
his Employment in such job classification shall count as Service hereunder
for eligibility purposes.

2.6	Election Not to Participate - An Employee who is eligible to
participate in the Plan may elect in a writing directed to the Plan
Administrator not to participate for the Plan Years specified in such writing.
Effective January 1, 2002, an Employee, leased employee, independent
contractor, Beneficiary or other person with any claim to benefits under the
Plan who provides the Plan Administrator with a knowing, voluntary and
irrevocable waiver of benefits under the Plan in a form satisfactory to the
Plan Administrator shall not be eligible to participate in or receive benefits
from the Plan and shall be treated for all purposes as ineligible.

2.7	Qualified Military Service - Notwithstanding any provision of this Plan
to the contrary, contributions, benefits and service credit with respect to
qualified military service will be provided in accordance with Code Section
414(u).

                                     9

<PAGE>

                                 ARTICLE III

                                 CONTRIBUTIONS

3.1	Employer Contributions - For so long as the Plan continues in effect,
the Employer may make a contribution annually to the Trust for the accounts of
all Participants who are active Employees on the last day of the Plan Year
and who have a Year of Service for such year.  The Employer's contribution
shall be made in (i) cash, (ii) property acceptable to the Trustee and
approved by the Plan Administrator, or (iii) Employer Stock (as defined
herein), or any combination of the foregoing.  The amount of each such
contribution to the Trust shall be determined by the Board of Directors of
the Employer, taking into consideration the then prevailing financial
conditions and fiscal requirements of the Employer and such other factors as
the Board of Directors may deem pertinent and applicable under the
circumstances.  In no event shall the annual contribution be less than an
amount necessary, when added to other available funds held by the Plan, to
pay the current amounts due (if any) under any loans or purchase money
obligations incurred by the Plan for the purpose of purchasing shares of
Employer Stock.  The contributions by the Employer shall be credited to the
Employer Contribution Accounts of Participants in accordance with Article
IV.  The Employer shall pay to the Trustee its contribution for each Plan
Year not later than the close of such Plan Year or within such other period
thereafter as is described in Code Section 404(a)(6).

In no event shall the contribution by the Employer be greater than the
amount deductible by the Employer for federal income tax purposes for the
taxable year with respect to which the same is made, plus such additional
amount as may be deductible by reason of a deduction carry forward from a
prior year or years when less that the maximum deductible amount was
actually contributed, except in anticipation of a future contribution of
less than the maximum amount deductible with respect to such future year and
the carry-forward to such future year of the current excess contribution for
deduction purposes under applicable statutes and regulations.  The
contribution provisions of Code Section 404(a)(9) shall apply to the Plan
and, in accordance with such provisions, additional contributions may be
made to the Plan for the purposes specified in such provisions.

No contributions by Participants shall be permitted under this Plan.

3.2	Fund for Exclusive Benefit of Participants - All assets of the Trust
Fund shall be held hereunder for the exclusive benefit of the Participants and
their Beneficiaries for the purpose of distributing to such Participants and
Beneficiaries the corpus and income of the Trust Fund in accordance with the
provisions of Article V hereof.  No part of the Trust Fund corpus or income
shall be used for or diverted to purposes other than for the exclusive
benefit of Participants and Beneficiaries under the Plan, whether by
operation of law or natural termination of contracts, by power of revocation
or amendment, by the happening of a contingency, by collateral arrangement
or by any other means; provided that the Employer hereby reserves the right
to amend or revoke the Plan at any time as provided in Articles IX and X
hereof.

To the extent permitted by the Code and applicable rules and regulations
thereunder and notwithstanding anything herein to the contrary, upon the
Employer's request, a contribution which was made by a mistake of fact, or

                                     10
<PAGE>

conditioned upon the initial qualification of the Plan or upon the
deductibility of the contribution under Code Section 404, shall be returned
to the Employer within one year after the payment of the contributions, the
denial of the qualified status of the Plan or the disallowance of the
deduction for such contribution (to the extent disallowed), whichever is
applicable.

3.3	Special Limitation on Allocations for Plan Years to Which Code Section
415(c)(6) Applies - For any Plan Year to which the special limitation of
Code Section 415(c)(6) shall otherwise apply, no more than one-third (1/3)
of the Employer contributions for the Plan Year shall be allocated to the
accounts of Highly Compensated Employees (within the meaning of Code Section
414(q)).

                                     11

<PAGE>

                                  ARTICLE IV

                           INTERESTS OF PARTICIPANTS

4.1	Accounts of Participants - The Trustee shall maintain an Employer
Contribution Account for each Participant to which contributions made under
the Plan shall be credited.  The Participant's Employer Contribution Account
may, if necessary in the view of the Trustee, be subdivided into subaccounts
to reflect allocations of Employer Stock and allocations of non-Employer
Stock assets ("Other Assets") in each Participant's Employer Contribution
Account.

4.2	Allocation of Shares of Employer Stock, Income, Expense, Fluctuations
in Asset Value, Etc.

(a)	In General - As of the close of business on each Annual Valuation Date,
the Trustee shall determine, in such reasonable ways and from such information
as it may deem appropriate, the fair market value of the Trust Fund.  In
making this determination, the value of Employer Stock shall be its fair
market value on such Annual Valuation Date as determined as the closing
price on the last trading date in the month in which the Annual Valuation
Date occurs or, if the Employer Stock is not publicly traded, by an
independent appraisal by a person selected by the Plan Administrator and
acceptable to the Trustee who customarily makes such appraisals and meets
the requirements of the regulations under Code Section 170(a)(1).  After
such determination is made of the fair market value of the Trust Fund, the
Trustee shall make appropriate adjustments in the Employer Contribution
Accounts of all Participants, former Participants and Beneficiaries who have
unpaid balances in their accounts at such time, by allocating pro rata among
such accounts based on the respective balances thereof as of the next
preceding Annual Valuation Date (but after first reducing each such account
balance by any distribution from the account during the Plan Year then
ending), any increases and decreases in the value of the assets of the Trust
Fund and any income (other than contributions), expenses, and realized gains
and losses of the Trust Fund since such preceding Annual Valuation Date.

(b)	Dividends on Employer Stock - To the extent permitted by law, the
dividends (if any) paid during a Plan Year on Employer Stock held by the Plan
(whether allocated or unallocated to Participants' accounts) may be used to pay
debt on outstanding borrowings, to pay administrative or other Plan expenses,
or, in the discretion of the Plan Administrator, be paid in cash to
Participants in the Plan in accordance with the respective number of shares of
Employer Stock allocable to each Participant's account as of the Annual
Valuation Date immediately preceding the dividend payment date.

If dividends on allocated shares of Employer Stock are used to pay debt on
outstanding borrowings, there shall be transferred from the suspense account
of unallocated shares of Employer Stock to the accounts of Participants to
which the dividends would have been allocated the number of shares of
Employer Stock equal in value to the amount of dividends that would have
been allocated to such accounts, but for the use of such dividends to make
payments on borrowings.  Such allocation of shares from the suspense account
shall be made in the Plan Year in which the dividends would otherwise have
been allocated.  If dividends are paid to Participants, they shall be paid
not later than ninety (90) days after the close of the Plan Year in which
such dividends are paid to the Trust.  The direction by the Plan

                                     12
<PAGE>
Administrator, which may be a continuing direction, to pay such dividends to
Participants shall be made in writing to the Trustee by the Plan
Administrator at least thirty (30) days prior to a dividend payment date.
In the event any dividends on Employer Stock are held by the Plan for a two-
year period or longer, they may only be distributed in cash if the
provisions of Article V regarding cash distributions are satisfied.

4.3	Allocation of Employer Contributions

(a)	In General - As of each Annual Valuation Date, and after
the allocations provided in Section 4.2 above, the current contribution of the
Employer shall be allocated to the Employer Contribution Accounts of (i) all
Participants who are active Employees on the last day of such Plan Year and
who have a Year of Service for such year, and (ii) all retirees and disabled
Participants who have not elected pursuant to Sections 5.1, 5.2 or 5.3 to
have their Account Balances determined as of the Annual Valuation Date next
preceding their dates of retirement, in the same proportion as the Annual
Compensation of each such Participant or former Participant bears to the
aggregate Annual Compensation of all such Participants during such year.

For Plan Years beginning on or after January 1, 1993 (but before January 1,
1997), as of each Annual Valuation Date, and after the allocations provided
in Section 4.2 above, the current contribution of the Employer shall be
allocated to the Employer Contribution Accounts of (i) all Participants who
are active Employees on the last day of such Plan Year, and (ii) all
Participants who retired or become totally and permanently disabled (as
defined in Section 5.2) during the Plan Year, and who have not elected
pursuant to Sections 5.1, 5.2 or 5.3 to have their Account Balances
determined as of the Annual Valuation Date next preceding their dates of
retirement, in the same proportion as the Annual Compensation of each such
Participant or former Participant bears to the aggregate Annual Compensation
of all such Participants during such year, without regard to the number of
Hours of Service credited to such Participant or former Participant for such
Plan Year.

For Plan Years ending on and after August 5, 1993, an Employee on FMLA Leave
on the last day of the Plan Year who returns to work following such FMLA
Leave shall be deemed to have been an active Employee on the last day of
such Plan Year.

(b)	Allocation of Suspense Account Employer Stock - The Trustee shall
maintain a suspense account to which it shall credit all borrowings (loans,
purchase money obligations, etc.) made by it to purchase Employer Stock and to
which it shall debit all shares of Employer Stock which are purchased with such
borrowed funds.  The shares in the suspense account shall not be allocated
except as the shares are released from the suspense account as provided for
in this subsection 4.3(b).

Except in circumstances where the Plan Administrator and the Trustee agree
on a different method, a suspense account established hereunder shall be
handled as follows:  on each Annual Valuation Date, the Trustee shall
release shares of Employer Stock in the suspense account for allocation to
the accounts of Participants who are eligible to share in the Employer's
contribution for such year.  The number of shares to be released on each
Annual Valuation Date shall be equal to the number of encumbered securities
held immediately before release for the current Plan Year multiplied by a
fraction, the numerator of which is the amount of principal and interest

                                     13
<PAGE>
paid for such year and the denominator of which is the sum of the principal
and interest to be paid for such year and for all future years.  If the
interest rate is variable, future interest shall be projected using the
interest rate applicable as of the end of the Plan Year.  Such released
shares of Employer Stock shall be allocated to the eligible Participants'
Employer Contribution Accounts in the manner provided in subsection (a)
above.

(c)	Earnings on Advance Employer Contributions - Earnings on advance
Employer contributions shall be allocated to eligible Participants' Employer
Contribution Accounts in the manner provided in subsection (a) above.

4.4	Maximum Additions

(a)	The Annual Additions made to the accounts of a Participant for any Plan
Year shall not exceed the lesser of: (i) $42,000, as adjusted for increases
in the cost-of-living under Code Section 415(d); or (ii) 100% of the
Participant's annual compensation, within the meaning of Code Section
415(c)(3), for the Plan Year.  The annual compensation limit referred to in
item (ii) above shall not apply to any contribution for medical benefits
after separation from service (within the meaning of Code Section 401(h) or
Section 419A(f)(2)) which is otherwise treated as an annual addition.

(b)	For purposes of this Section 4.4, "compensation" means compensation as
defined in Code Section 415(c)(3).  Compensation shall include elective
deferrals under Code Sections 402(g), 125 and 457, and elective amounts that
are not includible in the Participant's gross income by reason of Code
Section 132(f)(4).

(c)	If such Annual Additions with respect to any Participant for any Plan
Year would exceed the limitations set forth in this Section 4.4, such excess
Annual Additions shall be treated in accordance with the following in the
order indicated:

(i)	First, any Employee contributions made by the Participant which would
constitute excess Annual Additions for the Plan Year shall be returned to
the Participant.

(ii)	Second, any remaining excess Annual Additions shall be reallocated to
other Participants in accordance with the method of allocation under Section
4.3 hereof to the extent that such allocations do not cause the Annual
Additions to any such other Participant's Account to exceed the limitations
set forth in this Section 4.4.

(iii)	To the extent that such allocation or reallocation of excess amounts
causes the limitation set forth in this Section 4.4 to be exceeded with
respect to each participant for the Plan Year, then such amounts will be
held unallocated in a suspense account, to be allocated in the next Plan
Year(s) in accordance with Section 4.3 hereof.  If such a suspense account
is in existence at any time in accordance with this provision, all amounts
in such suspense account must be allocated before any Employer contributions
and Employee contribution which would constitute such Annual Additions may
be made to the Plan.  Investment gains and losses and other income shall not

                                     14

<PAGE>

be allocated to such suspense account.  Upon termination of the Plan, any
amount remaining in such suspense account which is unallowable shall revert
to the Employer.

(d)	For purposes of this Section 4.4, the following definitions and rules
of interpretation shall apply:

(i)	The "Annual Addition" of a Participant means amounts treated as
Employer contributions, plus the Participant's contributions (if any).  With
respect to defined contribution plans under which forfeitures can occur, Annual
Additions shall also include any forfeitures allocable during the Plan Year.
Further, amounts allocated to an individual medical benefit account, as
defined in Code Section 415(l)(2), which is part of a defined benefit plan
maintained by the Employer shall be treated as Annual Additions to a
contribution plan.  In no event shall this be construed as applying the
limitations of Code Section 415(c)(1)(B) to individual medical accounts or
post-retirement medical benefits.  Rollover contributions are also not
treated as Annual Additions.

(ii)	 "Dollar Limitation" means the limitation provided in Code Section
415(c)(1)(A) (adjusted in accordance with regulations of the Secretary of
the Treasury) as in effect for the particular Plan Year.

(iii)	For purposes of computing the maximum allocation under Section 4.4(a),
all defined contribution plans (whether or not terminated) of the Employer
shall be treated as one defined contribution plan.

(iv)	When the term Employer is used in this Section, it shall mean the
Employer and any other corporation or division which is a member of a
controlled group of corporations (within the meaning of Code Section 414(b), as
modified by Code Section 415(h)) of which the Employer is also a member.

(e)	In addition to other limitations set forth in the Plan and
notwithstanding any other provision of the Plan, the Annual Additions under the
Plan (and all other defined contribution plans required to be aggregated with
this Plan under Code Section 415) shall not increase to an amount in excess of
the amount permitted (when considered with all other aggregated plans of the
Employer) under Code Section 415.

(f)	If no more than one-third of the Employer contributions for a Plan Year
are allocated to the accounts of highly compensated employees (as defined in
Code Section 414(q)), then, for purposes of determining allocations to
Participant accounts under this Section 4.4, Employer contributions which
are deductible under Code Section 404(a)(9)(B) and charged against
Participant accounts shall not be included, in accordance with Code
Section 415(c)(6).

4.5	Directed Investments By Eligible Participants

(a)	In General - Each Eligible Participant shall, during any Qualified
Election Period, be permitted to direct the investment of a portion of his
Account Balance in accordance with the provisions of this Section 4.5.  Each
Eligible Participant may elect, in a writing delivered to the Plan

                                     15

<PAGE>

Administrator within ninety (90) days after the close of each Plan Year in
the Qualified Election Period, to direct the investment of twenty-five
percent (25%) of such Participant's Account Balance in the Plan attributable
to Employer Stock contributed to or acquired by the Plan after December 31,
1986, determined as of the Annual Valuation Date for the Plan Year preceding
the Plan Year in which such election is made (to the extent such portion
exceeds the amount to which a prior election under this Section 4.5
applies); provided, however, that in the case of the election year in which
the Participant is permitted to make his last such election, fifty percent
(50%) shall be substituted for twenty-five percent (25%) in applying this
Section 4.5.  Any Employer Stock diversified under this Section 4.5 shall be
valued based on the closing sale price of the Employer Stock as of the last
trading day of the calendar month immediately preceding the month in which
the diversification takes place.

For purposes of this Section 4.5, a Participant's Account Balance at the end
of any Plan Year shall be deemed not to include any amounts allocated to a
Participant's Account or contributed to the Plan after the end of such Plan
Year, even if allocated as of the end of such Plan Year.  The Plan shall
offer at least three (3) investment options for Eligible Participants which
are permissible under regulations issued under the Code.  Any investment or
reinvestment made pursuant to this Section 4.5 shall be made within a
reasonable time after the Participant's written election is delivered to the
Plan Administrator, but in any event within ninety (90) days of the 90-day
period set forth in Section 4.5(a).  No fiduciary of the Plan shall have any
liability for investments and reinvestments made under this Section 4.5
pursuant to the direction of an Eligible Participant.  The Account Balance
of an Eligible Participant who directs the investment of a portion of his
Account Balance shall be charged with all costs and expenses of such
investment or reinvestment or of any other transaction hereunder at the
request of the Participant, as well as all income, gains, losses, etc.
attributable to such investment or reinvestment.

(b)	Alternative To Directed Investments - In lieu of permitting directed
investments by Eligible Participants as provided in subsection (a), the
Company may determine and direct that the portion of such Eligible
Participant's Account Balance which is actually directed for investment by
such Participant be (i) distributed to such Participant, or (ii) transferred
to another qualified plan of the Employer which accepts such transfers,
provided that such plan permits employee-directed investment and does not
invest in Employer Stock to a substantial degree.  Such distribution or
transfer shall be made within ninety (90) days of the 90-day period set
forth in Section 4.5(a) during which such Participant directed such
investment.

                                     16

<PAGE>

                                  ARTICLE V

                                  BENEFITS

5.1	Normal Retirement Benefits - A Participant retiring under the Plan at
his Normal Retirement Date shall be entitled to receive the entire amount of
his Account Balance in the Plan as of the Annual Valuation Date immediately
preceding the payment of such Account, provided that the Employer Stock
allocated to his Account shall be valued based on the closing sale price of
the Employer Stock as of the last trading day of the calendar month
immediately preceding the month in which payment of such Account Balance
commences.  The manner of payment of benefits distributed pursuant to this
Section 5.1 shall be determined under the provisions of Section 5.6.

5.2	Disability Benefits - In the event a Participant shall become totally
and permanently disabled (as defined below), he shall be entitled to retire
under the Plan for disability and to receive the entire amount of his
Account Balance in the Plan as of the Annual Valuation Date immediately
preceding the payment of such Account, provided that the Employer Stock
allocated to his Account shall be valued based on the closing sale price of
the Employer Stock as of the last trading date of the calendar month
immediately preceding the month in which payment of such Account Balance
commences.  Benefits pursuant to this Section 5.2 shall be distributed as
indemnification against the Participant's injury or illness, the manner of
the payment of which shall be determined as provided in Section 5.6.  A
Participant shall be considered to be totally and permanently disabled if he
is eligible for benefits under the Employer's long-term disability plan.

5.3	Postponed Retirement - If required by law and for purposes of this Plan
only, an Employee may remain in the service of the Employer after his Normal
Retirement Date.  In the event a Participant remains so employed after his
Normal Retirement Date, he shall continue to be a Participant just as if he
had not yet reached his Normal Retirement Date.  When such a Participant
actually retires, he shall be entitled to receive the entire amount of his
Account Balance as of the Annual Valuation Date immediately preceding the
payment of such Account, provided that the Employer Stock allocated to his
Account shall be valued based on the closing sale price of the Employer
Stock as of the last trading date of the month immediately preceding the
month in which payment of such Account Balance commences.  The manner of
payment of benefits distributed pursuant to this Section 5.3 shall be
determined as provided in Section 5.6.

5.4	Death Benefits - In the event of the death of the Participant before
his retirement hereunder, there shall be payable to his Beneficiary the entire
interest of the Participant in the Plan as of the Annual Valuation Date
immediately preceding the payment of such Account, provided that the
Employer Stock allocated to his Account shall be valued based on the closing
sale price of the Employer Stock as of the last trading day of the calendar
month immediately preceding the month in which payment of such interest
commences.

5.5	Benefits on Termination of Employment

(a)	Benefits Payable Upon Termination of Employment - If a Participant's
Service is terminated for any reason other than his retirement, death or

                                     17

<PAGE>

total and permanent disability, his participation in the Plan will terminate
upon the occurrence of a Break in Service.  Each Participant shall be fully
vested in his Account Balance.  Upon incurring a one year Break in Service,
the Participant may file a written claim for benefits with the Plan
Administrator, on a form provided by the Plan Administrator for that
purpose, requesting distribution of his Account Balance.  Notwithstanding
the preceding sentence, effective as of May 1, 1999, if a Participant has
attained age 60 and has completed 20 or more Years of Service as of his
termination of Employment, the Participant's Account Balance, upon request
of the Participant, will be distributed as soon as administratively
practicable following Participant's termination of Employment.  His Account
shall be valued as of the Annual Valuation Date immediately preceding the
payment of such Account, provided that the Employer Stock allocated to his
Account shall be valued based on the closing sale price of the Employer
Stock as of the last trading date of the calendar month immediately
preceding the month in which payment of such Account Balance commences.

(b)	Time of Payment - Such amounts shall be payable to a Participant who
terminates Employment, in such manner and over such period of time as the
Participant may determine in accordance with Section 5.6.  Pending
commencement of payment thereof, the amount so payable shall be maintained
as provided in Section 5.10 hereof.  Such payment shall be made to and
accepted by the Participant in full and final satisfaction and settlement of
any and all of his claims and rights under the Plan and in the Trust Fund.

In the event a former Participant entitled to benefits under this Section
5.5 dies before such benefits shall have been paid in full, then the
remainder of his Account Balance shall be payable to his Beneficiary.

(c)	Lump Sum Payment of Value of Small Benefits - Notwithstanding any other
provision of the Plan, and irrespective of whether a Participant elects to
defer receipt of his Vested Interest under subsections (a) or (b) of this
Section 5.5, any benefits payable under the Plan may be paid as a lump sum
distribution of the Account Balance of a Participant under the following
circumstances:

(i)	If the Participant's Account Balance is not in excess of $5,000, then
the Plan Administrator shall direct the payment of such Account Balance in a
lump sum to such Participant or his Beneficiary within an administratively
practicable time after the occurrence of the event which entitles such
Participant to a distribution.  In the event of a distribution under this
Section 5.5(c)(i) in excess of $1,000, if the Member does not elect to have
such distribution paid directly to an Eligible Retirement Plan specified by
the Member in a Direct Rollover in accordance with Section 5.18 or to
receive the distribution directly, then the Plan Administrator will pay the
distribution in a Direct Rollover to an Eligible Retirement Plan designated
by the Plan Administrator.

(ii)	If the Participant's Account Balance exceeds $5,000, then with the
written consent of the Participant, the Plan Administrator shall direct the
payment of such Account Balance in a lump sum to such Participant or his
Beneficiary.

5.6	Payment of Benefits - The benefits to which a retiring, disabled or
terminated Participant is entitled upon his retirement, disability or other

                                     18

<PAGE>

termination of Employment under Sections 5.1, 5.2, 5.3 or 5.5, as the case
may be, shall be paid as elected by the Participant in one of the ways
described in this Section 5.6.  Any such election shall be exercised by such
person in writing filed with the Plan Administrator within the period
specified in such Section 5.1, 5.2, 5.3 or 5.5, as the case may be.  The
available optional modes of payment of benefits under the Plan are as
follows:

(a)	distribution in full (lump sum) during any single calendar year;

(b)	annual installments for a period not to exceed fifteen (15) years or
the life expectancy of the Participant or the life expectancy of the
Participant and his spouse, if any; or

(c)	any combination of the above.

If a Participant dies before the commencement of distribution of his
benefits, the Beneficiary may elect any of the alternative forms of payment
under (a), (b) or (c) above which otherwise could have been elected by the
Participant; provided, however, that the Participant's Account Balance shall
be distributed within five (5) years from the date of the Participant's
death if the Beneficiary is not an individual or if the Beneficiary is an
individual and elects a lump sum distribution.  Provided, further, that any
installments shall begin within one year of the Participant's death and
continue for a period not exceeding the Beneficiary's life expectancy if the
Beneficiary is an individual or continue for a period of not more than five
(5) years from the date of the Participant's death if the Beneficiary is not
an individual.

If any distribution includes an insurance contract, such insurance contract
shall not permit a form of distribution other than a form permitted under
this Section.

Distribution of a Participant's Account Balance will be made in whole shares
of Employer Stock, cash or a combination of both, as determined by the Plan
Administrator; provided, however, that a Participant (or his Beneficiary)
shall have the right to demand distribution of his Account Balance entirely
in whole shares of Employer Stock, with the value of any fractional shares
paid in cash.  Notwithstanding the preceding sentence, if the bylaws or
charter of the Employer restrict the ownership of substantially all
outstanding employer securities to employees or a trust described in Code
Section 401(a), distribution of a Participant's Account Balance will be made
in cash.

If Employer securities (acquired with the proceeds of an exempt loan) which
are to be distributed under the Plan consist of more than one class, the
party receiving the distribution must receive substantially the same
proportion of each such class.

(d)	In the event of death of the Participant, the entire amount of the
Participant's Account, computed as of the Valuation Date coincident with or
next preceding the date of his death shall be distributed as follows:

(i)	Unless Section 5.6(d)(iii) applies, if the Participant's surviving
spouse is the Participant's sole designated Beneficiary, then distributions
to the surviving spouse will begin by December 31 of the calendar year

                                     19
<PAGE>

immediately following the calendar year in which the Participant died, or, if
later, by December 31 of the calendar year in which the Participant would have
attained age 70-1/2.

(ii)	Unless Section 5.6(d)(iii) applies, if the Participant's surviving
spouse is not the Participant's sole designated Beneficiary, then
distributions to the designated Beneficiary will begin by December 31 of the
calendar year immediately following the calendar year in which the Participant
died.

(iii)	If the designated beneficiary has elected to receive a lump sum
distribution, or, if there is no designated Beneficiary as of September 30
of the year following the year of the Participant's death, the Participant's
entire interest will be distributed by December 31 of the calendar year
containing the fifth anniversary of the Participant's death.

(iv)	If the Participant's spouse is the Participant's sole designated
Beneficiary and the surviving spouse dies after the Participant but before
distribution to the surviving spouse has been made, Section 5.6(d)(i) will
apply as if the surviving spouse were the Participant.

For purposes of this Section 5.6, unless Section 5.6(d)(iv) applies,
distribution is considered to be made on the Participant's required
beginning date within the meaning of Section 5.12(b).  If Section 5.6(d)(iv)
applies, distribution is considered to be made on the date distribution is
made to the surviving spouse under Section 5.6(d)(i).

5.7	Restrictions on Participants' Right To Dispose of Employer Stock;
Employer's and Plan's Right of First Refusal - Any Employer Stock
distributed under the Plan shall be subject to the following restrictions on
its transfer (if it is not readily tradable on an established market when
the right of first refusal is exercised) and an appropriate legend
indicating this restriction will be placed on each stock certificate:

(a)	Any person (the "Seller", which shall include Participants and their
Beneficiaries) desiring to sell, transfer or assign all or any portion of
the Employer Stock distributed under this Plan shall first have received a
bona fide written offer for the purchase of such stock and shall then offer
to sell the same to the Company and the Plan, pursuant to their right of
first refusal, in the manner hereinafter set forth.

(b)	The Seller shall deliver to the Trustee and the Company a notice in
writing of his desire to sell or transfer his stock which notice shall contain
a signed copy of said bona fide offer to purchase, stating the price and other
terms and conditions of such offer and the name and address of the proposed
purchaser, along with a written statement of the Seller's willingness to
sell his stock to the Company or the Plan in preference to the proposed
purchaser.  The Trustee and the Company shall have fourteen (14) days from
the receipt of such notice within which to decide whether to purchase all of
the stock being offered and, if so, whether such purchase shall be made by
the Company or by the Plan or a part by each (such electing party, whether
the Company or the Trustee, is hereinafter called the "Purchaser").  If the
Purchaser is to purchase such stock, then it shall deliver to the Seller
(within the fourteen (14) day period provided for above) written notice of
acceptance of such offer designating a closing place and date for the

                                     20

<PAGE>

purchase of the Employer Stock (the "Closing") which shall not be more than
thirty (30) days after the date of its notice of acceptance to the Seller.

(c)	If all of the Participant's offered Employer Stock is not to be
purchased, then the Seller shall have the right to sell such Employer Stock to
the person making the bona fide offer within 30 days following the day upon
which the Trustee and the Company were required to give notice of their
election to purchase.  Any such sale shall be under terms and conditions no
less favorable to the Seller than those presented to the Trustee and the
Company.  In the event such stock is not so sold, it shall remain subject to
the terms and conditions of this Section 5.8.

(d)	In the event the Purchaser elects to purchase the Seller's stock
pursuant to the provisions hereof, the Seller shall deliver at the Closing the
certificate(s) representing the shares to be sold, which certificate(s)
shall be duly endorsed for transfer to the Purchaser, and the purchase price
and payment thereof shall be made by the Purchaser in accordance with the
terms and provisions of the sale.  The selling price must not be less
favorable to the Seller than the greater of (i) the purchase price and terms
offered by the bona fide purchaser or (ii) the fair market value of the
Employer Stock as of the most recent Annual Valuation Date as described in
Section 4.2; provided, however, in the event the Seller is a "disqualified
person" (as defined in Code Section 4975) the fair market value shall be
determined in a manner acceptable to the Plan Administrator and the Trustee
as of the date of the transaction.

(e)	Any purported gift, sale, transfer, assignment, mortgage, pledge or
hypothecation of Employer Stock distributed under the Plan by a Participant
or his Beneficiary in violation of this restriction shall be null and void,
and the Company and the Plan shall not recognize such gift, sale, transfer,
assignment, mortgage, pledge or hypothecation as passing any interest in the
stock.

(f)	Nothing contained herein shall apply to any sale of Employer Stock
directly to the Company or the Plan other than sales made to the Plan under
the right of first refusal provided for hereunder.

5.8	Participant's Right to Put Employer Stock to the Company and the Plan

(a)	General - In the event the Plan acquires Employer Stock in a leveraged
transaction, any Participant (or his Beneficiary) thereafter receiving a
distribution of Employer Stock from the Plan at a time when such Employer
Stock is not readily tradable on an established market shall have a "put
option" on such shares, giving him the right to have the Company purchase
such shares.  The same right shall apply to any Employer Stock distributed
to a Participant (or his Beneficiary) pursuant to his exercising the right
to demand Employer Stock described in Section 5.6.  The put option shall be
exercisable during the following two election periods by giving notice in
writing to the Employer:

(i)	the first option period shall be the sixty (60) day period commencing
on the date of distribution of the shares of Employer Stock; and

                                     21

<PAGE>

(ii)	the second option period shall be the sixty (60) day period commencing on
the date the fair market value of the Employer Stock is determined (and the
Participant or Beneficiary is notified of such determination) for the Plan
Year next following the Plan Year in which such shares of Employer Stock are
distributed.  The Plan may be given the opportunity to purchase shares of
Employer Stock tendered to the Employer under the put option, as described
in subsection (c) hereof.  Except to the extent otherwise required by law,
the put option hereunder shall not apply at any time that the Employer Stock
is readily tradable on an established market.

(b)	Price and Payment - The price at which the put option shall be
exercisable is the fair market value as of the Annual Valuation Date which
precedes the date the put option is exercised except in the case of a put
option in favor of a "disqualified person" (as defined in Code Section 4975)
in which event the fair market value shall be determined as of the date of the
transaction.  Payment for the shares of Employer Stock put to the Employer may
be made in cash or in installments over a period not exceeding five (5) years,
at the election of the Employer.  If the purchase price is paid in
installments, a reasonable interest rate and adequate security must be
provided.  The periodic payments shall begin within thirty (30) days after the
put is exercised.

(c)	Right of Plan - The Plan shall have the option by notice in writing to
the Employer to assume the rights and obligations of the Employer under the put
option provided for herein at the time the put option is exercised.  The put
option provided for hereunder shall not bind the Plan to purchase the
Employer Stock.

(d)	Continuation of Rights - The provisions of this Section 5.8 with
respect to any Employer Stock acquired by the Plan in a leveraged transaction,
or which is distributed to Participants (or Beneficiaries) pursuant to the
right described in section 5.6 hereinabove in lieu of the Plan's right to
distribute Plan benefits in cash, shall be non-terminable and shall continue
if the loan is repaid or if the Plan ceases to be an ESOP, except to the
extent such rights have terminated in accordance with the terms hereof.
Except as otherwise expressly provided in this Plan, any Employer Stock
acquired in a leveraged transaction shall not be subject to any put, call,
or other option or buy-sell or similar arrangement while held by and when
distributed from the Plan, regardless of whether the Plan is then an ESOP.
The protections set forth in the preceding sentence shall be non-terminable.

5.9	Securities Laws Restrictions On Resales - To the extent that the shares
of Employer Stock to be acquired by the Plan have not been registered under
either state or federal securities laws, but have been issued and acquired
pursuant to applicable exemptions thereunder, any such Employer Stock
distributed to Participants in the Plan may only be sold by the Participant
upon registration under such securities laws or pursuant to an available
exemption thereunder.  The shares of Employer Stock held and distributed by
the Plan may be appropriately legended to reflect the restrictions on sale
in the securities laws.

5.10	Maintenance of Accounts Prior to Payout - Subject to the limitations
set forth in Section 5.5, during such period of time between termination of a
Participant's Employment as described in Section 5.5 hereof and the date
when he becomes entitled to actual payment of his interest in his Employer
Contribution Account, his Account Balance shall be maintained by the Trustee
in the following manner:
                                     22
<PAGE>

(a)	The Trustee shall segregate on his books the Participant's Account
Balance as of the date of the termination of his Employment, and such
segregated Account Balance shall not thereafter share in any Employer
contributions or amounts otherwise allocated as Employer contributions.
The balance in a segregated account may remain invested as a part of the Trust
Fund, sharing in the net income, net loss, net appreciation and net
depreciation of the Trust Fund, to the same extent as if such accounts had not
been segregated, with the Trustee having the same powers of investment,
reinvestment and commingling as he has for all other assets of the Trust.

(b)	In the event that an individual for whom a segregated account is
maintained in accordance with Section 5.10(a) is Reemployed following a Break
in Service, such accounts shall continue to be maintained as separate accounts,
provided, however, the Plan Administrator may integrate such segregated
account with his post Break in Service Employer Contribution Account and
thereafter regard it as a single account for all purposes hereunder.

5.11	Present Value of Payments - Any method of payment of benefits shall
result in the present value of payments to be paid to the Participant being
greater than fifty percent (50%) of the present value of the total benefits to
be paid to the Participant and his Beneficiary.

5.12	Commencement of Payments

(a)	In General - Notwithstanding anything herein to the contrary, unless a
Participant otherwise elects in a writing delivered to the Plan
Administrator, subject, however, to the requirements of Section 5.12(b),
benefit payments hereunder shall commence not later than the earlier of (i)
sixty (60) days after the later of (A) the date on which such Participant
reaches his Normal Retirement Date, (B) the Plan Year in which occurs the
tenth anniversary of the year in which such Participant commenced
participation, or (C) the Plan Year in which such Participant's Employment
with the Employer terminates.

(b)	Required Beginning Date - Payments of a Participant's entire interest
in the Plan shall begin no later than the following date: (i) if the
Participant is a five-percent (5%) owner (within the meaning of Code Section
416(i)(1)), April 1 of the calendar year next following the calendar year in
which the Participant attains age 70-1/2, or (ii) for any other Participant,
April 1 of the calendar year next following the later to occur of his
attainment of age 70-1/2 or his retirement.

(c)	Period of Distribution

(i)	General - The requirements of this Section 5.12(c) will take precedence
over any inconsistent provisions of the Plan.  All distributions required
under this Section 5.12(c) will be determined and made in accordance with
the Treasury regulations under Code Section 401(a)(9).

(ii)	Required Beginning Date - The Participant's entire interest will be
distributed, or begin to be distributed, to the Participant no later than
the Participant's required beginning date, determined pursuant to Section
5.12(b).

                                     23

<PAGE>

(iii)	Forms of Distribution - Unless the Participant's entire interest is
distributed in a single lump sum on or before the required beginning date,
as of the first distribution calendar year distributions will be made in
accordance with subsections (iv), (v), (vi) and (vii) of this Section
5.12(c).

(iv)	Amount of Required Minimum Distribution For Each Distribution Calendar
Year - During the Participant's lifetime, the minimum amount that will be
distributed for each distribution calendar year is the lesser of:

(1)	the quotient obtained by dividing the Participant's Account balance by
the distribution period in the Uniform Lifetime Table set forth in Section
1.401(a)(9)-9 of the Treasury regulations, using the Participant's age as of
the Participant's birthday in the distribution calendar year; or

(2)	if the Participant's sole designated Beneficiary for the distribution
calendar year is the Participant's spouse, the quotient obtained by dividing
the Participant's Account balance by the number in the Joint and Last
Survivor Table set forth in Section 1.401(a)(9)-9 of the Treasury
regulations, using the Participant's and spouse's attained ages as of the
Participant's and spouse's birthdays in the distribution calendar year.

(v)	Lifetime Required Minimum Distributions Continue Through Year of
Participant's Death - Required minimum distributions will be determined
under this Section 5.12(c) beginning with the first distribution calendar
year and up to and including the distribution calendar year that includes
the Participant's date of death.

(vi)	Death on or After Date Distributions Begin

(1)	Participant Survived by Designated Beneficiary - If the Participant
dies on or after the date distributions begin and there is a designated
Beneficiary, the minimum amount that will be distributed for each distribution
calendar year after the year of the Participant's death is the quotient
obtained by dividing the Participant's Account balance by the longer of the
remaining life expectancy of the Participant or the remaining life expectancy
of the Participant's designated Beneficiary, determined as follows:

(A)	The Participant's remaining life expectancy is calculated using the age
of the Participant in the year of death, reduced by one for each subsequent
year.

(B)	If the Participant's surviving spouse is the Participant's sole
designated Beneficiary, the remaining life expectancy of the surviving
spouse is calculated for each distribution calendar year after the year of
the Participant's death using the surviving spouse's age as of the spouse's
birthday in that year.  For distribution calendar years after the year of
the surviving spouse's death, the remaining life expectancy of the surviving

                                     24

<PAGE>

spouse is calculated using the age of the surviving spouse as of the
spouse's birthday in the calendar year of the spouse's death, reduced by one
for each subsequent calendar year.

(C)	If the Participant's surviving spouse is not the Participant's sole
designated Beneficiary, the designated Beneficiary's remaining life
expectancy is calculated using the age of the Beneficiary in the year
following the year of the Participant's death, reduced by one for each
subsequent year.

(2)	No Designated Beneficiary -  If the Participant dies on or after the
date distributions begin and there is no designated Beneficiary as of September
30 of the year after the year of the Participant's death, the minimum amount
that will be distributed for each distribution calendar year after the year
of the Participant's death is the quotient obtained by dividing the
Participant's Account balance by the Participant's remaining life expectancy
calculated using the age of the Participant in the year of death, reduced by
one for each subsequent year.

(vii)	Death Before Date Distributions Begin

(1)	Participant Survived by Designated Beneficiary -  If the Participant
dies before the date distributions begin and there is a designated Beneficiary,
the minimum amount that will be distributed for each distribution calendar
year after the year of the Participant's death is the quotient obtained by
dividing the Participant's Account balance by the remaining life expectancy
of the Participant's designated Beneficiary, determined as provided in
Section 5.12(c)(vi).

(2)	No Designated Beneficiary -  If the Participant dies before the date
distributions begin and there is no designated Beneficiary as of September
30 of the year following the year of the Participant's death, distribution
of the Participant's entire interest will be completed by December 31 of the
calendar year containing the fifth anniversary of the Participant's death.

(3)	Death of Surviving Spouse Before Distributions to Surviving Spouse Are
Required to Begin -  If the Participant dies before the date distributions
begin, the Participant's surviving spouse is the Participant's sole
designated Beneficiary, and the surviving spouse dies before distributions
are required to begin to the surviving spouse under Section 5.6(d), this
Section 5.12(c)(vii) will apply as if the surviving spouse were the
Participant.

(viii)	Definitions - The following definitions shall apply for purposes of
Sections 5.6 and 5.12:

(1)	Designated Beneficiary -  The individual who is designated as the
Beneficiary under Article VI of the Plan and is the designated Beneficiary

                                     25

<PAGE>

under Code Section 401(a)(9) and Section 1.401(a)(9)-1, Q&A-4 of the
Treasury regulations.

(2)	Distribution calendar year -  A calendar year for which a minimum
distribution is required.  For distributions beginning before the
Participant's death, the first distribution calendar year is the calendar
year immediately preceding the calendar year which contains the
Participant's required beginning date.  For distributions beginning after
the Participant's death, the first distribution calendar year is the
calendar year in which distributions are required to begin under Section
5.6(d).  The required minimum distribution for the Participant's first
distribution calendar year will be made on or before the Participant's
required beginning date.  The required minimum distribution for other
distribution calendar years, including the required minimum distribution for
the distribution calendar year in which the Participant's required beginning
date occurs, will be made on or before December 31 of that distribution
calendar year.

(3)	Life expectancy -  Life expectancy as computed by use of the Single
Life Table in Section 1.401(a)(9)-9 of the Treasury regulations.

(4)	Participant's Account balance -  The Account balance as of the last
valuation date in the calendar year immediately preceding the distribution
calendar year (valuation calendar year) increased by the amount of any
contributions made and allocated or forfeitures allocated to the Account
balance as of dates in the valuation calendar year after the valuation date
and decreased by distributions made in the valuation calendar year after the
valuation date.  The Account balance for the valuation calendar year
includes any amounts rolled over or transferred to the Plan either in the
valuation calendar year or in the distribution calendar year if distributed
or transferred to the Plan either in the valuation calendar year or in the
distribution calendar year if distributed or transferred in the valuation
calendar year.

5.13	Error in Participant's Account - When an error or omission is
discovered in the account of a Participant, the Trustee shall, upon direction
by the Plan Administrator make such equitable adjustments as the Plan
Administrator deems necessary as of the Plan Year in which the error or
omission is discovered.

5.14	No Other Benefits or Withdrawals - Except as expressly provided for in
this Article V or Section 4.5(b), for so long as this Plan continues in
effect no individual, whether a Participant, former Participant, Beneficiary
or otherwise, shall be entitled to any payment or withdrawal of funds from
the Trust Fund.

5.15	Voting Rights

(a)	Voting of Allocated Shares - Except as provided in subsection (d)
below, each Participant shall have the right to direct the Trustee
confidentially with respect to the voting of Employer Stock held in the Trust
and allocated to the Participant's Employer Contribution Account.  The
Participant shall convey his instructions with respect to such shares in

                                     26

<PAGE>

confidence in writing to the ESOP Committee, which shall then inform the
Trustee of such voting instructions.  In the absence of an ESOP Committee, such
instructions shall be communicated by the Participants directly to the Trustee.
The instructions so received by the ESOP Committee and Trustee shall be held by
the ESOP Committee and Trustee in confidence and shall not be divulged or
released to any person.  Upon timely receipt of such instructions, the
Trustee shall on each matter vote as instructed the number of shares of
Employer Stock allocated to such Participant's Employer Contribution
Account.  To the extent permitted by law, any shares with respect to which
the Participant does not give directions for voting in a timely manner shall
be voted by the Trustee as directed by the ESOP Committee.  For voting
purposes, allocated fractional shares of Employer Stock shall be aggregated
into whole shares of Employer Stock and voted by the Trustee to the extent
possible to reflect the voting instructions of Participants with respect to
whole shares of Employer Stock allocated to their Employer Contribution
Accounts.

(b)	Voting of Unallocated Shares - Except as provided in (d) below, shares
of Employer Stock held by the Trustee and not yet allocated to Participants'
Employer Contribution Accounts shall be voted by the Trustee, in the same
proportion as Participants direct the voting of allocated shares of Employer
Stock.

(c)	Obligations of the Company - Except as provided in (d) below, the
Company shall in an appropriate time and manner furnish the Trustee and
Participants with proxy materials, notices and information statements when
voting rights are to be exercised.  In general, the materials to be furnished
Participants shall be the same as those provided to security holders.

(d)	Voting Non-Registration Type Stock - In the event the Employer Stock is
not at the time a registration-type class of securities as defined in Code
Section 409(e), then except as provided in the following sentence, the
Employer Stock held in the Trust shall be voted in the manner determined by
the ESOP Committee and communicated in writing to the Trustee.  With respect
to any matter which involves the voting of such shares with respect to the
approval or disapproval of any corporate merger, consolidation,
recapitalization, reclassification, liquidation, dissolution, sale of
substantially all the assets or such similar transaction as prescribed in
regulations, each Participant shall be entitled to direct the Trustee as to
the exercise of any voting rights attributable to shares of Employer Stock
allocated to his Employer Contribution Account at such date.  On all other
matters, the ESOP Committee and the Trustee need not solicit voting
instructions from Participants.

5.16	Tender or Exchange Offer for Company Stock

(a)	Tender or Exchange of Allocated Shares - Notwithstanding the other
provisions of the Plan, in the event of a tender or exchange offer for
Employer Stock at a time when such Employer Stock is readily tradable on an
established market, each current or former Participant (or after the death
of a former Participant, his Beneficiary) who has shares of Employer Stock
allocated to his Employer Contribution Account hereunder shall be given the
opportunity to direct the Trustee confidentially regarding whether to tender
or exchange the whole shares of Employer Stock allocated to his Employer
Contribution Account.  To such end, as promptly as practicable after a
tender or exchange offer for Employer Stock is made, the Trustee shall send

                                     27
<PAGE>
to all those described in the preceding sentence (hereinafter referred to as
the "Affected Participants") such materials and forms for responding as are
appropriate in order to determine the direction of each Affected
Participant.  Any form for responding shall prominently note that failure by
an Affected Participant to return such form within a specified reasonable
period of time shall be deemed a direction to the Trustee not to tender or
exchange the whole shares of Employer Stock allocated to the Employer
Contribution Account of such Affected Participant.  The Participant shall
convey his instructions in confidence in writing to the ESOP Committee,
which shall then convey such instructions to the Trustee.  In the absence of
an ESOP Committee, such instructions shall be conveyed directly to the
Trustee.  As promptly as practicable after receiving an Affected
Participant's response form which directs it to tender or exchange his whole
shares of Employer Stock, the Trustee shall carry out the tender or exchange
of such shares; provided, however, that the Trustee shall have the right to
change or to modify its actions hereunder to comply with the terms of any
valid order of a court of competent jurisdiction directing it to take
certain actions inconsistent with the requirements of this Section.  After
the expiration of the period during which Affected Participants may direct
the Trustee to tender or exchange their shares, the Trustee shall determine
the total number of whole shares it was directed to tender or exchange, and
the total number of whole shares it was directed not to tender or exchange
(either expressly or by failure to timely respond).  If the majority of the
allocated whole shares of Employer Stock were directed to be tendered or
exchanged, then the Trustee shall also tender or exchange, as promptly as
practicable, any allocated fractional shares which are held in the Trust.
However, if the majority of the allocated whole shares of Employer Stock
were not directed to be tendered or exchanged, the Trustee shall not tender
or exchange any such allocated fractional shares.  In carrying out the steps
necessary to determine the directions of Affected Participants under this
Section, the Trustee shall adopt such means as it deems appropriate to
provide Affected Participants with the opportunity to indicate their
directions in a confidential manner, i.e., without the disclosure of any
Affected Participant's individual decision to the public or the Company.

(b)	Unallocated Shares - In the case of shares of Employer Stock that have
not been allocated to the Employer Contribution Accounts, the ESOP Committee
shall convey tender or exchange instructions to the Trustee with respect to
such unallocated shares, which instructions shall direct that the Trustee
tender or exchange such shares in the same proportion as Participants direct
the tender or exchange of shares of Employer Stock allocated to their
Employer Contribution Accounts, treating for this purpose the failure of a
Participant to instruct or validly instruct the ESOP Committee or Trustee as
a decision not to tender or exchange.

5.17	Appraisal of Employer Stock - In the event that any class or series of
Employer Stock held by the Plan is not readily tradable on an established
market, all valuations, including the annual valuation, of Employer Stock
must be performed by an independent appraiser meeting the requirements of
the regulations under Code Section 170(a)(1).

5.18	Direct Transfer of Eligible Rollover Distributions

(a)	For the purposes of this Section 5.18, the following definitions shall
apply:

                                     28

<PAGE>

(i)	"Eligible Rollover Distribution" shall mean any distribution of all or
any portion of the balance to the credit of the Distributee, except that an
Eligible Rollover Distribution shall not include:  any distribution that is
one of a series of substantially equal periodic payments (not less
frequently than annually) made for the life (or life expectancy) of the
Distributee or the joint lives (or joint life expectancies) of the
Distributee and the Distributee's designated Beneficiary, or for a specified
period of ten years or more; any distribution to the extent such
distribution is required under Code Section 401(a)(9); distribution
described in Code Section 401(k)(2)(B)(i)(IV); or the portion of any
Distribution that is not includable in gross income (determined without
regard to the exclusion for net unrealized appreciation with respect to
employer securities).

(ii)	"Eligible Retirement Plan" shall mean an individual retirement account
described in Code Section 408(a), an individual retirement annuity described
in Code Section 408(b), an annuity plan described in Code Section 403(a), a
qualified trust described in Code Section 401(a), that accepts the
Distributee's Eligible Rollover Distribution, or an annuity contract
described in Code Section 403(b) and an eligible plan under Code Section
457(b) which is maintained by a state, political subdivision of a state, or
any agency or instrumentality of a state or political subdivision of a state
and which agrees to separately account for amounts transferred into such
plan from the Plan.  The definition of Eligible Retirement Plan shall also
apply in the case of a distribution to a surviving spouse, or to a spouse or
former spouse who is the alternate payee under a qualified domestic relation
order, as defined in Code Section 414(p).  However, in the case of an
Eligible Rollover Distribution to the surviving spouse, an Eligible
Retirement Plan shall mean only an individual retirement account or
individual retirement annuity.

(iii)	"Distributee" shall mean an Employee or former Employee.  In addition,
the Employees or former Employee's surviving spouse and the Employee's or
former Employee's spouse or former spouse who is the alternate payee under a
qualified domestic relations order, as defined in Code Section 414(p), are
Distributees with regard to the interest of the spouse or former spouse.

(iv)	"Direct Rollover" shall mean a payment to the Eligible Retirement Plan
specified by the Distributee either by direct transfer from the Plan, or by
delivery of the distribution check by the Distributee, provided such check
is made out in a manner to ensure that it is negotiable only by the trustee
of the Eligible Retirement Plan.

(b)	Notwithstanding any provision of the Plan to the contrary, a
Distributee may elect, at the time and in the manner prescribed by the Plan
Administrator, to have any portion of an Eligible Rollover Distribution paid
directly to an Eligible Retirement Plan specified by the Distributee in a
Direct Rollover.

                                     29

<PAGE>

                                  ARTICLE VI

                          DESIGNATION OF BENEFICIARY

Each Employee becoming a Participant hereunder shall designate in writing,
in such form and manner as shall be prescribed by such rules and regulations
as the Plan Administrator may promulgate in this connection, a Beneficiary
of any interest under this Trust which may be payable with respect to such
Participant in the event of his death before or after retirement, or after
such termination of Service as may entitle him to a Vested Interest in the
Trust Fund, which designation may include the designation of an alternate
Beneficiary.  Subject also to such rules and regulations as the Plan
Administrator may promulgate, a Participant may from time to time change
such designation of Beneficiary (or alternate Beneficiary).

In the event benefits become payable upon the death of a Participant and no
Beneficiary has been properly designated as above provided, or if the
designated Beneficiary shall have predeceased him, such benefits shall be
payable in full to the following in the order set out: (1) to the surviving
spouse of the Participant or (2) if the Participant dies without a spouse
then living, to the surviving children of the Participant (per capita) or
(3) if none of the foregoing persons is then living, to the surviving
brothers and sisters of the Participant (per capita) or (4) if none of the
foregoing persons is then living, to the surviving parents of the
Participant (per capita) or (5) if none of the foregoing persons is then
living, to the Participant's estate.  The identity of the Beneficiary of a
deceased Participant's interest shall be determined by the Plan
Administrator after reasonable investigation.  The determination of the Plan
Administrator in this connection shall be final and conclusive and both the
Plan Administrator and the Trustee shall be fully protected in paying such
benefits to such deceased Participant's Beneficiary as so determined,
regardless of whether payments are actually made to a person or persons who
actually constitute beneficiaries of such deceased Participant under the
provisions hereof.

Notwithstanding the foregoing provisions, the Participant's entire interest
in the Plan at his death, if any, shall be paid to such Participant's
surviving spouse (if such spouse is then living) unless prior to the
Participant's death, the spouse consents in a writing witnessed by a Plan
representative or a notary public to permit the Participant to designate a
person other than the spouse as the Participant's Beneficiary, which consent
may expressly permit designations of Beneficiary(ies) by the Participant
without any requirement of further consent by such spouse.  This provision
shall not apply where it is established to the satisfaction of the Plan
Administrator that such consent cannot be obtained because there is no
spouse, because the spouse cannot be located, or because of such other
circumstances as may be permitted by the regulations.  Neither shall this
provision apply unless the spouse and Participant have been married
throughout the one year period ending on the date of the Participant's
death.  The Plan Administrator shall provide to each Participant within a
reasonable time before such Participant is entitled to receive benefits, a
written explanation of the Participant's spouse's right to waive the
surviving spouse benefits described in this Article VI.

                                     30

<PAGE>
                                 ARTICLE VII

                               ADMINISTRATION

7.1	Allocation of Responsibility Among Fiduciaries for Plan and Trust
Administration - The Fiduciaries shall have only those specified powers,
duties, responsibilities and obligations as are specifically given them
under this Plan and Trust.  In general, the Employer shall have the sole
responsibility for making the contributions provided for under Article III,
and the Company shall have the sole authority to appoint and remove the
Trustee, the Plan Administrator and any Investment Manager or Managers which
it may elect to provide for managing all or any portion of the Trust, and to
amend or terminate, in whole or in part, this Plan and Trust.  The Plan
Administrator shall have the sole responsibility for the administration of
the Plan and the Trustee shall have the sole responsibility for management
of the assets held under the Trust (except where an Investment Manager has
been appointed), all as more specifically provided hereinafter.  Each
Fiduciary may rely upon any direction, information or action of another
Fiduciary in the exercise of the latter's respective powers, duties,
responsibilities arid obligations hereunder, as being proper under this Plan
and Trust, and shall not be required to inquire into the propriety of any
such direction, information or action.  It is intended that each Fiduciary
shall be responsible for the proper exercise of its own powers, duties,
responsibilities and obligations under this Plan and Trust and shall not be
responsible for any act or failure to act of another Fiduciary.  No
Fiduciary guarantees the Trust Fund in any manner against investment loss or
depreciation in asset value.

7.2	Appointment of Plan Administrator - The Plan Administrator shall be the
ESOP Committee, or in its absence, the Employer.  It is anticipated that in
the absence of the ESOP Committee, the Employer shall delegate its rights,
duties and responsibilities as Plan Administrator to an administrative
committee consisting of one or more persons designated from time to time by
the Board of Directors of the Employer, and the Employer hereby authorizes
such delegation.

The President of the Employer (or in the event of the President's inability
or failure to act, any Vice President of such company) shall certify in
writing to the Trustee, as promptly as practicable after any change in the
membership of the ESOP Committee, the names of the persons then serving as
members of the committee.  The Trustee shall be entitled to rely on the
names so certified as being the authorized and acting members of the
committee until notified of any change by subsequent certification.

The ESOP Committee or any administrative committee may act at a meeting or
by unanimous written consent without a meeting.  Such committee shall elect
one of its members as chairman, appoint a secretary, who may or may not be a
committee member, and advise the Trustee of such actions in writing.  The
secretary shall keep a record of all meetings and forward all necessary
communications to the Employer or the Trustee.  A quorum of the committee
shall consist of not less than two-thirds of the members thereof, and a
majority vote of those present shall control on all matters acted upon at a
meeting of the committee.  A dissenting committee member who, within a
reasonable time after he has knowledge of any action or failure to act by
the majority, registers his dissent in writing delivered to the other
committee members, the Employer, and the Trustee, shall not be responsible
for any such action or failure to act.

                                     31
<PAGE>

7.3	Claims Procedure - The Plan Administrator shall make all determinations
as to the right of any person to eligibility or a benefit under the Plan.
Benefits under this Plan will be paid only if the Plan Administrator decides
in its discretion that the applicant is entitled to them.  If a written
request for a Plan benefit by a Participant or Beneficiary is wholly or
partially denied, the Plan Administrator will provide such claimant a
comprehensible written notice setting forth:

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

(ii)	specific reference to pertinent Plan provisions on which the denial is
based;

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

(iv)	a description of the Plan's claim review procedure.  The review
procedure is available upon written request by the claimant to the Plan
Administrator within 60 days after receipt by the claimant of written notice of
the denial of the claim, and includes the right to examine pertinent documents
and submit issues and comments in writing to the Plan Administrator.  The
decision on review will be made within 60 days after receipt of the request
for review unless circumstances warrant an extension of time not to exceed
an additional 60 days and shall be in writing and drafted in a manner
calculated to be understood by the claimant, and include specific reasons
for the decision with references to the specific Plan provisions on which
the decision is based.

7.4	Records and Reports - The Plan Administrator shall exercise such
authority and responsibility as it deems appropriate in order to comply with
ERISA and governmental regulations issued thereunder relating to records of
Participants' service and Account Balances; notifications to Participants;
annual registration with the Internal Revenue Service; annual reports to the
Department of Labor; and such other documents or reports as may be required
by ERISA.  The Employer shall from time to time make available to the Plan
Administrator such information with respect to the Employees, their dates of
employment, their compensation, and other matters as may be necessary or
desirable in connection with the performance by the Plan Administrator of
its duties with respect to the Plan.  The Plan Administrator shall, in turn,
furnish to the Trustee such information and such rulings and decisions as
the Trustee may require or may request in connection with the performance of
its duties as Trustee of the Trust Fund hereby created.

7.5	Other Plan Administrator Powers and Duties - The Plan Administrator
shall have such duties and powers as may be necessary to discharge its duties
hereunder, including, but not by way of limitation, the provisions of
Section 1.19 and the following:

(a)	the sole and exclusive authority to construe and interpret the Plan,
decide all questions of eligibility and determine the amount, manner and time
of payment of any benefits hereunder;

                                     32

<PAGE>

(b)	to prescribe procedures to be followed by Participants or Beneficiaries
filing applications for benefits;

(c)	to prepare and distribute, in such manner as the Plan Administrator
determines to be appropriate, information explaining the Plan;

(d)	to receive from the Employer and from Participants such information as
shall be necessary for the proper administration of the Plan;

(e)	to furnish the Employer, upon request, such annual reports with respect
to the administration of the Plan as are reasonable and appropriate;

(f)	to receive, review and keep on file (as it deems convenient or proper)
reports of the financial condition, and of the receipts and disbursements,
of the Trust Fund from the Trustee (or any Investment Manager);

(g)	to appoint or employ individuals or other parties to assist in the
administration of the Plan and any other agents it deems advisable,
including accountants and legal and actuarial counsel; and

(h)	to designate or employ persons to carry out any of the Plan
Administrator's fiduciary duties or responsibilities under the Plan.

7.6	Rules and Decisions - The Plan Administrator may adopt such bylaws,
rules and regulations as it deems necessary, desirable, or appropriate,
provided that same shall not be inconsistent with or contrary to the express
terms of this Plan.  All such bylaws, rules, regulations and decisions of the
Plan Administrator shall be uniformly and consistently applied to all
Participants in similar circumstances.  When making a determination or
calculation, the Plan Administrator shall be entitled to rely upon
information furnished by a Participant or Beneficiary, the Employer, the
legal or actuarial counsel of the Employer, any Investment Manager, or the
Trustee.

7.7	Authorization of Benefit Payments - The Plan Administrator shall issue
directions to the Trustee concerning all benefits which are to be paid from
the Trust Fund pursuant to the provisions of the Plan.

7.8	Application and Forms for Benefits - The Plan Administrator may require
a Participant to complete and file with the Plan Administrator an application
for a benefit and all other forms approved by the Plan Administrator and to
furnish all pertinent information requested by the Plan Administrator.  The
Plan Administrator may rely upon all such information so furnished it,
including but not limited to the Participant's current mailing address.

7.9	Payment for Benefit of Disabled or Incapacitated Person - Whenever, in
the Plan Administrator's opinion, a person entitled to receive any payment of a
benefit or installment thereof hereunder is under a legal disability or is
incapacitated in any way so as to be unable to manage his financial affairs,
the Plan Administrator may direct the Trustee to make payments to such
person or to his legal representative or to a relative or friend of such
person for his benefit, or the Plan Administrator may direct the Trustee to
apply the payment for the benefit of such person In such manner as the Plan

                                     33

<PAGE>

Administrator considers advisable.  Any payment of a benefit or installment
thereof in accordance with the provisions of this Section shall be a
complete discharge of any liability for the making of such payment under the
provisions of the Plan.

7.10	Notices to Trustee - All notices from the Plan Administrator or any
Investment Manager to the Trustee shall be in writing, and the Trustee may
rely thereon in carrying out its duties and responsibilities hereunder.

7.11	Indemnification by the Company - The Company shall indemnify and hold
harmless the Board of Directors, any Employee performing duties with respect
to the Plan, the Plan Administrator and the Trustee from and against any and
all claims, losses, damages, expenses and liabilities arising from their
responsibilities in connection with the Plan, unless such liability arises
from the person's gross negligence or dishonesty in the performance of its
duties.

                                     34

<PAGE>
                                ARTICLE VIII

              POWERS, DUTIES AND RESPONSIBILITIES OF THE TRUSTEE

8.1	Establishment and Acceptance of Trust - The Trustee shall hold and
manage the assets received by it to be included in the Trust Fund.  All
contributions so received together with the income therefrom shall be
managed, invested and reinvested by the Trustee in accordance with Section

8.2, subject, however, to the right of the Company to appoint and employ an
Investment Manager or Managers, to manage and/or invest and reinvest the
Trust Fund, or any part thereof, in which event the Investment Manager shall
be certified as such to the Trustee by the Company and the Trustee shall not
be liable for the acts or omissions of such Investment Manager or Managers
or be under any obligation to manage or invest the assets of the Trust Fund
which are subject to management by such Investment Manager or Managers.  Any
such Investment Manager so employed must meet the definition thereof
contained in Section 3(38) of ERISA and must acknowledge in writing at the
time of such employment that he or it is a fiduciary with respect to the
Plan.  The chief executive officer of any such Investment Manager shall
certify in writing to the Trustee the names of all persons who shall act on
behalf of the Investment Manager with respect to the Trust Fund, and the
Trustee may rely thereon in its dealings with the Investment Manager.  The
Trustee shall have the power to take such action and execute such documents
with respect to the Plan, the Trust Fund created thereunder and the benefits
provided thereunder as it may deem necessary or advisable in order to carry
out the purposes for which the Plan is established and operated.

8.2	Investment of Trust Fund - The Plan is designed to be an employee stock
ownership plan (as such term is defined in Code Section 4975.  Therefore,
the Employer Contribution Accounts under the Trust Fund shall be invested
primarily in Employer Stock.  The ESOP Committee shall direct the Trustee in
writing as to all purchases and sales of Employer Stock by the Plan.  Shares
of Employer Stock may be purchased in the open market, from the Company or
affiliates of the Company, or through privately negotiated transactions, at
prices not in excess of the fair market value of the Employer Stock on the
date of the purchase, as long as such purchases are permitted by applicable
law.  The Trustee may suspend purchases of Employer Stock in circumstances
which, in the opinion of counsel for the Trustee, such suspension is
necessary to comply with rules and regulations of the Securities and
Exchange Commission, in which event such purchases will be made or resumed
as or when the Trustee is satisfied that such purchases are permitted under
such rules and regulations.  To the extent the Trustee does not receive such
written direction from the Plan Administrator and to the extent the Trust
Fund is not invested in Employer Stock, the funds of the Trust may be
invested in stocks, common or preferred, trust shares, mutual fund shares,
annuity contracts and insurance policies (including specifically "key man"
insurance on any key employee of the Employer) bonds and mortgages and other
evidences of indebtedness or ownership, master variable notes, commercial
paper, repurchase agreements issued by persons other than the Trustee which
are secured by obligations of the U.S. Treasury or agencies or
instrumentalities of the United States (except as any such investment may be
limited hereunder or under the provisions of ERISA), and, consistently with
Code Section 4975(d)(4), any deposits with Southwest Georgia Bank or an
affiliated state or federally supervised bank, including certificates of
deposits or savings certificates, and in any common trust fund or commingled
trust fund maintained by the Trustee for the investment of qualified

                                     35
<PAGE>
employee benefit trusts; provided, however, the Trustee or Investment
Manager, as the case may be, shall be subject to the principal requirements
that the Plan is to be invested primarily in Employer Stock and that the
investments of the other assets of the Plan shall be diversified to the
extent necessary to minimize the risk of large losses, unless under the
circumstances it is clearly prudent not to do so.  For purposes of the
restrictions on investment in and holding of Employer Stock, the Trustee
(and any Investment Manager) shall be permitted to invest in and hold such
securities having an aggregate fair market value up to 100% of the fair
market value of the Trust Fund's assets.

In the event the Plan Administrator directs the Trustee to dispose of shares
of Employer Stock under circumstances which would, in the opinion of counsel
for the Trustee, require registration of such shares under the Securities
Act of 1933 and/or qualification of the shares under the blue sky laws of
any state or states, then the Trustee shall not be required to proceed with
such disposition of the shares unless the Employer takes any and all actions
as may be deemed necessary to effect such registration and/or qualification.
The costs of such registration and/or qualification shall be borne by the
Employer.

The Trustee may cause any investment in securities held by the Trustee to be
registered in or transferred into its name as Trustee or into the name of
such nominee as it may appoint, or it may retain the same unregistered and
in such form as shall permit transferability, but the books and records of
the Trust Fund shall at all times show that all such investments are part of
the Trust Fund.

The ESOP Committee shall establish the general investment policy and
objectives for the Trust Fund and shall communicate same to the Trustee and
any Investment Manager who may then be serving as such, as promptly as
practicable after establishing or revising same.  It shall be the
responsibility of the Trustee and any such Investment Manager to advise the
Company, in writing, at reasonable intervals and at such other times as the
Company shall request of all investments and reinvestments of the Trust Fund
made in furtherance of such investment policy and objectives.

Notwithstanding the foregoing provisions of this Section 8.2, the investment
of Trust Fund assets shall be subject to the provisions of Article IV of the
Plan.

8.3	Discharge of Duties - The ESOP Committee, Plan Administrator, the
Trustee and any Investment Manager (and any other party who may at any time be
serving as a Fiduciary with respect to the Plan) shall discharge their
duties solely in the interests of the Participants and Beneficiaries, for
the exclusive purpose of providing benefits as herein described and
defraying reasonable expenses of administration, in accordance with the Plan
and consistent with the fiduciary responsibility provisions of ERISA Title
I, and with the care, skill, prudence and diligence, under the circumstances
then prevailing, that a prudent man acting in a like capacity and familiar
with such matters would use in the conduct of an enterprise of like
character and with like aims.

8.4	Prohibited Transactions - Notwithstanding anything herein to the
contrary, neither the Trustee, nor any other party at any time serving as a
Fiduciary with respect to the Plan, shall cause the Plan to engage in any
"prohibited transactions" as same are defined and applicable to this Plan under
ERISA Section 406 or Code Section 4975, subject to any available and applicable
                                     36
<PAGE>

exception contained in or allowed by ERISA or the Code, and, except as
otherwise permitted by such exemption and provided for herein, in complying
with such limitations, neither the Trustee nor any other Fiduciary shall
engage in any transaction which they know or should know constitutes a
direct or indirect:

(a)	sale or exchange or leasing of any property between the Trust Fund and
a "party in interest" or a "disqualified person" (as such terms are defined
under ERISA);

(b)	lending of money or other extension of credit between the Trust Fund
and a party in interest or a disqualified person;

(c)	furnishing of goods, services, or facilities between the Trust Fund and
a party in interest or a disqualified person;

(d)	transfer to, or use by or for the benefit of, a party in interest or a
disqualified person, of any assets of the Trust Fund; or

(e)	acquisition, on behalf of the Trust Fund, of any Employer security or
Employer real property which would constitute a violation by this Plan of
Section 407 of ERISA.

Unless such transaction is permissible under ERISA, neither the Trustee nor
any other Fiduciary shall deal with the assets of the Trust Fund in their
own interest or for their own account or act in any transaction involving
the Trust Fund on behalf of a party (or represent a party) whose interests
are adverse to the interests of the Trust Fund or the interests of its
Participants or Beneficiaries.  No Fiduciary shall receive any consideration
for its own personal account from any party dealing with the Trust Fund in
connection with a transaction involving the assets of the Trust Fund.

8.5	Delegation of Responsibilities - The Trustee and any other party
serving as a Fiduciary with respect to the Plan shall act prudently in the
delegation or allocation of responsibilities to other persons (to the extent
such delegation or allocation is allowable hereunder and under ERISA), and
if at any time there is more than one authorized Trustee serving, each
Trustee shall exercise reasonable care to prevent the other Trustees from
committing a breach of such other Trustees' obligations and responsibilities
hereunder.  Each Fiduciary shall conduct a periodic review to assure that
functions delegated by such Fiduciary are carried out properly.  Neither the
Trustee nor any other person serving at any time as a Fiduciary with respect
to the Plan shall be liable for the actions of any other Trustee or
Fiduciary unless he knowingly participates, approves, acquiesces in or
conceals a breach of obligations and responsibilities committed by the
other.

8.6	Powers of Trustee - Subject to the rights of the ESOP Committee with
respect to the purchase and sale of Employer Stock, the terms of an exempt
loan, and the rights of the Participants with respect to the voting and
tender of Employer Stock, the Trustee (and any Investment Manager to the
extent applicable to its investment powers and duties) shall have the
following powers and authority in the administration and investment of the
Trust Fund, to be exercised without being required to make or to file any
inventory or appraisal with, nor to give any bond or be a surety thereon to,

                                     37

<PAGE>

any officer, court or tribunal, and in accordance with and subject to the
above provisions of this Article VIII:

(a)	Purchase of Property - To purchase or subscribe for any securities or
other property, real and personal, and to retain the same in trust.

(b)	Sale, Exchange, Conveyance and Transfer of Property - To sell,
exchange, convey, transfer or otherwise dispose of any securities or other
property held by it, by public or private sale without notice, advertisement or
court order.  No person dealing with the Trustee shall be bound to see to the
application of the purchase money or to inquire into the validity,
expediency, or propriety of any such-sale or other disposition.

(c)	Exercise of Owner's Rights - Subject to Section 5.15, to vote in
accordance with its fiduciary obligations hereunder any Employer Stock or any
other stocks, bonds or other securities held in the Trust Fund on all matters
for which such vote is required; to give general or special proxies or powers
of attorney with or without power of substitution; to exercise any conversion
privileges, subscription rights, or other options, and to make any payments
incidental thereto; to oppose, or to consent to or otherwise participate in,
corporate reorganizations or other changes affecting corporate securities,
and to delegate discretionary powers, and to pay any assessments or charges
in connection therewith; and generally to exercise any of the powers of an
owner with respect to the Employer Stock and any other stocks, bonds,
securities or other property held as part of the Trust Fund.

(d)	Borrowing - To borrow or raise money for the purpose of the Plan in
such amount, and upon such terms and conditions, including entering into
purchase money transactions, as the ESOP Committee appointed by the Board may
direct and the Trustee shall determine appropriate; and for any sum so
borrowed, to issue its promissory note as Trustee, and to secure the repayment
thereof by pledging all or any part of the Trust Fund.  No person lending money
to the Trustee shall be bound to see to the application of the money lent or to
inquire into the validity, expediency or propriety of any such borrowing.
Any borrowing by the Trustee to purchase Employer Stock shall provide for
the following special provisions:

(i)	the Plan shall repay to the lender the amount of such loan, together
with the interest thereon, only out of amounts contributed for such purposes to
the Plan by the Employer;

(ii)	from time to time, as the Plan repays such loan, shares of Employer
Stock shall be released from the suspense account for allocation to
Participants' accounts as provided in Section 4.3 (b);

(iii)	the collateral, if any, from the Trust Fund to secure such loan shall
be limited to the Employer Stock purchased with the proceeds of such loan and
then only to the extent that such stock has not been released from the
suspense account for allocation to Participants' accounts as provided for in
Section 4.3;

(iv)	the loan shall be made without recourse against the existing assets of
the Plan;

                                     38

<PAGE>

(v)	in the event of default by the Plan under such loan, the value of
assets of the Plan transferred in satisfaction of the loan must not exceed the
amount of the default; provided, where the lender is a "disqualified person"
(as such term is defined in Code Section 4975), Plan assets may be transferred
to such disqualified person only upon and to the extent of failure to meet
the payment schedule of the loan;

(vi)	the loan must be for a specific term, and not payable on demand, and
the interest rate on the loan must not be in excess of a reasonable rate; and

(vii)	such other requirements as may be necessary for the loan or purchase
money transaction to meet the applicable requirements of Code Section 4975 for
an exempt loan.

(e)	Retention of Cash - To keep such portion of the Trust Fund in cash or
cash balances as the Trustee, from time to time, may deem to be in the best
interests of the Trust, without liability for interest thereon.

(f)	Retention of Property Acquired - To accept and retain for such time as
it may deem advisable any securities or other property received or acquired by
it as Trustee hereunder, whether or not such securities or other property
would normally be purchased as investments hereunder.

(g)	Execution of Instruments - To make, execute, acknowledge and delivery
any and all documents of transfer and conveyance and any and all other
instruments that may be necessary or appropriate to carry out the powers
herein granted.

(h)	Settlement of Claims and Debts - To settle, compromise or submit to
arbitration any claims, debts or damages due or owing to or from the Trust
Fund, to commence or defend suits or legal or administrative proceedings,
and to represent the Trust Fund in all suits and legal and administrative
proceedings.

(i)	Employment of Agents and Counsel - To employ suitable agents and
counsel (who shall be counsel for or acceptable to the Company), and to pay
their reasonable expenses and compensation, and the Trustee shall be fully
protected in relying upon the advice of such counsel.

(j)	Buy-Sell Agreements - To enter into buy-sell agreements upon such terms
as the Trustee deems appropriate for the purchase of Employer Stock which give
the Plan the option to purchase Employer Stock upon the death of another
party to the agreement, but which do not obligate the Plan to purchase such
Employer Stock.

(k)	Power to Do Any Necessary Act - To do all acts, take all such
proceedings, and exercise all such rights and privileges, although not
specifically mentioned herein, as the Trustee may deem necessary to administer
the Trust Fund and to carry out the purposes of this Trust.

8.7	Payments From The Fund - The Trustee shall from time to time, on the
written directions of the Plan Administrator, make payments out of the Trust

                                     39

<PAGE>

Fund to such persons, in such manner, in such amounts, and for such purposes
as may be specified in the written directions of the Plan Administrator,
pursuant to Article V, and upon any such payment being made, the amount
thereof shall no longer constitute a part of the Trust Fund.  Each such
written direction shall be accompanied by a certificate of the Plan
Administrator that the payment is in accordance with the Plan.  The Trustee
shall not be responsible in any way with respect to the application of such
payments, or, subject to observing the standards hereinabove set forth in
Sections 8.1 through 8.5, for the adequacy of the Trust Fund to meet and
discharge any and all liabilities under the Plan.

8.8	Payment of Compensation, Expenses and Taxes - The Trustee (and any
Investment Manager) shall be paid such reasonable compensation as shall from
time to time be agreed upon in writing by the Employer and the Trustee or
the Investment Manager, as the case may be.  In addition, they shall be
reimbursed for any reasonable expenses, including reasonable counsel fees,
incurred by them in the management and investment of the Trust Fund.  Such
compensation and expenses shall be paid either by the Employer or the Trust,
as directed by the Employer, but until paid shall constitute a charge upon
the Trust Fund.  All taxes of any and all kinds whatsoever that may be
levied or assessed under existing or future laws upon, or in respect of, the
Trust Fund or the income thereof shall be paid from the Trust Fund.
Brokerage fees and commissions and other purchase and sale transaction
associated costs shall be paid by the Company or the Trust, as directed by
the Company, but until paid shall constitute a charge upon the Trust Fund.

8.9	Accounting - The Trustee shall keep accurate and detailed accounts of
all investments, receipts, disbursements and other transactions hereunder.  All
accounts, books and records relating to such transactions shall be open to
inspection and audit at all reasonable times by any person designated by the
Plan Administrator.

Within ninety (90) days following the close of each fiscal year of the Trust
and within ninety (90) days after the removal or resignation of the Trustee
as provided in Section 8.11 hereof, the Trustee shall file with the Plan
Administrator a written account setting forth all investments, receipts,
disbursements, and other transactions effected by it during such fiscal year
or during the period from the close of the last fiscal year to the date of
such removal or resignation, and setting forth the current value of the
Trust Fund.

8.10	Bond - Any person or party serving as a Fiduciary with respect to the
Plan and any other person or party handling funds of the Plan shall, if
required by ERISA and not otherwise exempted, be bonded in an amount which
shall not be less than 10 percent of the amount of the Trust Fund, but in no
event shall any such bond be less than $1,000.00 nor more than $500,000.00.
The amount of such bond shall be fixed at the beginning of each Plan Year in
accordance with the provisions of ERISA Section 412(a).  The Employer shall
be responsible for paying the cost of such bond.

8.11	Resignation or Removal of the Trustee

(a)	Term of Trustee - The Trustee shall continue to serve as such until his
resignation or removal as herein provided.

                                     40

<PAGE>

(b)	Resignation - Any Trustee may resign and become and remain fully
discharged from any and all further duties or responsibilities hereunder by
giving at least sixty (60) days' prior written notice to the Company stating
the effective date of such resignation, or such shorter notice as the Company
may accept as sufficient.  Such resignation shall take effect on the date
specified therein unless a successor Trustee(s) shall have been appointed at
an earlier date, in which event such resignation shall take effect
immediately upon the appointment of such successor Trustee(s).

(c)	Removal - Any Trustee may be removed by the Company's giving at least
sixty (60) days prior written notice to the Trustee stating the effective date
of such removal, or such shorter notice as the Company may request and the
Trustee may accept as sufficient, in which event such removed Trustee shall
become and remain fully discharged from all further duty or responsibility
hereunder after the effective date of such removal.

(d)	Appointment of Successor-Trustee - In the event of the resignation or
removal of any Trustee, a successor Trustee(s) shall promptly be appointed
by the Board of Directors of the Company who shall give any remaining
Trustee(s) notice of such appointment.  Any successor Trustee(s) shall
immediately upon his appointment as a successor Trustee and his acceptance
of same in writing filed with the Company and any remaining Trustee(s)
become vested with all of the property, rights, powers and duties of a
Trustee with like effect as if originally named the Trustee hereunder.  Any
successor Trustee shall not be required to look into the actions of a prior
Trustee unless directed to do so by the Plan Administrator.

                                     41

<PAGE>

                                 ARTICLE IX

                            AMENDMENT OF THE PLAN

The Company shall have the right at any time by instrument in writing, duly
executed and acknowledged and delivered to the Trustee to modify, alter or
amend this Plan and Trust in whole or in part, provided, however, that the
duties, powers and liability of the Trustee hereunder shall not be
substantially modified without its written consent and provided further that
any benefits which have actually accrued and become payable hereunder shall
not be affected thereby.  No amendment shall be made which shall cause or
authorize any part of the Trust Fund to revert or be refunded to an Employer
or to be used for or diverted to purposes other than the exclusive and sole
benefit of the Participants or their Beneficiaries (other than such part as
is required to pay taxes and expenses of administration).  The Company shall
have the limited right to amend this Agreement at any time, retroactively or
otherwise, in such respects and to such extent as may be necessary to
qualify it under existing and applicable laws and regulations so as to
permit the full deduction for tax purposes of the Employer's contributions
made hereunder, and if and to the extent necessary to accomplish such
purpose may by such amendment decrease or otherwise affect the rights of
Participants to benefits which have actually accrued and become payable
hereunder, any provision herein to the contrary notwithstanding.

No amendment to the Plan shall reduce a Participant's Account Balance or
eliminate an optional form of distribution except to the extent permissible
under Code Sections 411, 412, or any other relevant Code Section.  No
amendment to the Plan shall have the effect of decreasing a Participant's
Account Balance determined without regard to such amendment as of the later
of the date such amendment is adopted or the date it becomes effective.

                                     42

<PAGE>

                                  ARTICLE X

                        DISCONTINUANCE OF CONTRIBUTIONS
                                      AND
                              TERMINATION OF PLAN

10.1	Intention to Continue Plan - The Plan herein provided for has been
established by the Company with the bona fide intention that it shall be
continued in operation indefinitely and that contributions hereunder shall
continue for an indefinite period.  However, the Company reserves the right
at any time to terminate the Plan, and any Employer reserves the right at
any time to discontinue contributions.

10.2	Termination or Partial Termination of Plan - The Trustee shall be
notified of such termination or partial termination in writing and shall
proceed at the direction of the Plan Administrator to liquidate the assets of
the Trust Fund.  Upon termination of the Plan by an Employer, the Employer
shall not thereafter make any further contributions under the Plan, and no
amount shall thereafter be payable under the Plan to or in respect of any
Participants then employed by such Employer, except as provided in this
Section X or except as amounts may become payable under the Plan as a result
of such Participants continuing their participation in the Plan as a result
of being employed by other participating Employers.  To the maximum extent
permitted by ERISA, transfers, distributions or other dispositions of assets
of the Plan as provided in this Article X shall constitute a complete
discharge of all liabilities under the Plan.  Promptly upon any such
termination the Trustee shall (i) pay any due and accrued expenses and
liabilities of the Trust and any expenses involved in the termination of the
Plan and appropriately adjust, as may be required, all accounts of
Participants for such expenses and charges; and (ii) adjust for income,
gains and losses of the Trust Fund to such termination date in the manner
described in Section 4.2(a) hereof as if such termination date was an Annual
Valuation Date.  The interest of each affected Employee in the adjusted
amount then credited to his Employer Contribution Account shall be
nonforfeitable as of such date.  The full current value of such adjusted
amount shall be paid from the Trust Fund to each such Participant in such
manner of distribution specified in Section 5.6 hereof as though each such
Participant separated from Service as of the date of termination, or shall
continue to be held in Trust at the discretion of the Plan Administrator as
provided in Article V.

In the event of a partial termination of the Plan, the payments, adjustments
and distributions described above shall also be made, but only with respect
to the portion of the Plan being terminated.

Termination or partial termination of the Plan shall not affect the payment
of benefits, in accordance with Section 5.6 hereof, from the Trust Fund, nor
shall such funds thereafter be divested by reason of any provision hereof.

10.3	Internal Revenue Service Approval - Notwithstanding the foregoing, the
Trustee shall not be required to make any distribution from the Trust in the
event the Plan is terminated or contributions are completely discontinued
until such time as the Internal Revenue Service shall have determined in
writing that such termination or discontinuance will not adversely affect
the prior qualification of the Plan.

                                     43

<PAGE>

10.4	Discontinuance of Contributions - In the event of a complete
discontinuance by the Employer of contributions to be made by it hereunder,
the accounts of all Participants shall be treated, and the rights of all
Participants shall be, as if the Plan was terminated as contemplated under
Section 10.2 immediately above on the effective date of such discontinuance
or the date such discontinuance is deemed to have been effective, including,
but not limited to, nonforfeitability of all amounts credited to the
Employer Contribution Accounts of all affected Participants.

                                     44

<PAGE>
                                 ARTICLE XI

                               MISCELLANEOUS

11.1	Participants' Rights, Acquittance - Except to the extent required or
provided for by mandatorily imposed law as in effect and applicable hereto
from time to time, neither the establishment of the Trust hereby created,
nor any modification thereof, nor the creation of any fund or account, nor
the payment of any benefits, shall be construed as giving to any Participant
or other person any legal or equitable right against the Employer, or any
officer or employee thereof, the Trustee or the Plan Administrator except as
herein provided nor shall any Participant have any legal right, title or
interest in this Trust or any of its assets, except in the event and to the
extent that benefits may actually accrue to him hereunder, and the same
limitations shall be applicable with respect to death benefits which may be
payable to the beneficiaries of a Participant.  Under no circumstances shall
the terms of employment of any Participant be modified or in any way
affected hereby.  This Plan and Trust shall not constitute a contract of
employment nor afford any individual any right to be retained in the employ
of the Employer.

11.2	Spendthrift Clause - Except to the extent permitted by the Code,
Participants are prohibited from anticipating, encumbering, alienating or
assigning any of their rights, claims or interest in this Trust or in any of
the assets thereof, and no undertaking or attempt to do so shall in any way
bind the Plan Administrator or the Trustee or be of any force or effect
whatsoever.  Furthermore, except to the extent permitted by the Code, no
such rights, claims or interest of a Participant in this Trust or in any of
the assets thereof shall in any way be subject to such Participant's debts,
contracts or engagement, nor to attachment, garnishment, levy or other legal
or equitable process.

The foregoing provision against the assignment of a Participant's right in
the Plan shall not apply in the case of (i) a qualified domestic relations
order which is determined by the Plan Administrator to meet the requirements
of Code Section 414(p), or (ii) the Participant's liability to the Plan due
to (A) the Participant's conviction of a crime involving the Plan, (B) a
judgment, consent order, or decree in action for violation of fiduciary
standards, or (C) a settlement involving the Department of Labor or Pension
Benefit Guaranty Corporation.

In any action or proceeding involving the Trust Fund, or any property
constituting part or all thereof, or the administration thereof, the
Employer, the Plan Administrator and the Trustee shall be the only necessary
parties and no Employee or former Employee of the Employer or his
Beneficiary or any other person having or claiming to have an interest in
the Trust Fund or under the Plan shall be entitled to any notice or service
of process.  Any final judgment which is not appealed or appealable that may
be entered in any such action or proceeding shall be binding and conclusive
on the parties hereto, the Plan Administrator and all persons having or
claiming to have any interest in the Trust Fund or under the Plan.

11.3	Participation of Adopting Employers - With the written consent of the
Company, an adopting Employer may become a party to this agreement pursuant
to authorization by its Board of Directors.  In the event an adopting
Employer does so become a party, it shall contribute to the Plan, and its
Employees shall be entitled to benefits hereunder, in accordance with the
terms of the Plan subject to the following special provisions:
                                     45
<PAGE>

(a)	The contribution of each adopting Employer shall be determined
separately by its Board of Directors under Article III hereof.

(b)	In computing the Service of a person who is in the employ of only one
of the adopting Employers at the same time, the period of Service of such
Person with any of the adopting Employers shall be counted, and a transfer
of an Employee from the employ of one adopting Employer to the employ of
another shall not interrupt his Service, nor shall such a transfer
constitute a termination of Service under the terms of this Plan.

(c)	The contribution of each adopting Employer shall be allocated among its
Employees separately from the contributions of the others in accordance with
the provisions of Article IV.  Net increases and decreases in the value of
the Trust Fund resulting from increases or decreases in the value of the
assets of the Trust and earnings and losses shall be allocated among all
Participants under the Plan as a group in accordance with the provisions of
Article IV.  Participants who are Employees of one or more adopting
Employers shall have separate accounts with respect to their participation
as an Employee of each such adopting Employer.

(d)	In the event of a transfer of any Participant from the employ of one
adopting Employer to the employ of another, his account shall be considered
and treated thereafter as the account of a Participant who is an Employee of
the adopting Employer to which he is transferred.

In the event of such a transfer, the Participant transferred shall share in
the next annual contribution of each of such adopting Employers on a pro
rata basis, based upon his Annual Compensation with each such Employer
during its fiscal year in which the transfer takes places.

11.4	Qualification of Plan as Condition - This Agreement is based upon the
condition subsequent that it shall be approved and qualified by the Internal
Revenue Service as meeting the requirements of the Code with respect to
stock bonus plans and trusts and employee stock ownership plans and trusts
so as to permit, among other incidents to such qualified plans, the Employer
to deduct for income tax purposes the amount of its contributions to the
Plan as set forth herein, and so that such contributions will not be taxable
at the time of contribution to the Participants as income.  Therefore, if,
when this plan is submitted for qualification and approval by the Internal
Revenue Service, the Internal Revenue Service rules that the Plan does not
meet the requirements of the Code for qualification for the purposes
specified in the preceding sentence and the deficiencies precluding
qualification may not be corrected by amendment effective as of the Adoption
Date, then regardless of any other provision herein contained, this Plan
shall be and become null and void ab initio, and any contribution hereunder
shall be returned to the Employer.

11.5	Successor Employer - In the event of the dissolution, merger,
consolidation or reorganization of the Company, provision may be made by
which the Plan and Trust will be continued by the successor, and such
successor shall be substituted for the Company under the Plan.  The
substitution of the successor shall constitute an assumption of Plan
liabilities by the successor and the successor shall have all the powers,
duties and responsibilities of the Company under the Plan.

                                     46

<PAGE>

11.6	Transfer of Plan Assets - In the event of any merger or consolidation
of the Plan with, or transfer in whole or in part of the assets and liabilities
of the Trust Fund to another trust fund held under any other plan of
deferred compensation maintained or to be established for the benefit of all
or some of the Participants of this Plan, the assets of the Trust Fund
applicable to such Participants shall be transferred to the other trust fund
only if:

(a)	each Participant would, if either this Plan or the other Plan then
terminated, receive a benefit immediately after the merger, consolidation or
transfer which is equal to or greater than the benefit he would have been
entitled to receive immediately before the merger, consolidation or transfer
if the Plan had then terminated;

(b)	resolutions of the Board of Directors of the Employer of the affected
Participants shall authorize such transfer of assets and, in the case of the
new or successor employer of the affected Participants, its resolutions
shall include an assumption of liabilities with respect to such
Participant's inclusion in the new employer's plan;

(c)	such other plan and trust are qualified under Code Sections 401(a) and
501(a); and

(d)	the Trustee is authorized to make or receive such direct transfers at
the direction of the Company.

11.7	Delegation of Authority by the Company - Whenever the Company under the
terms of this Agreement is permitted or required to do or perform any act or
matter or thing it shall be done and performed by any officer thereunto duly
authorized by the Board of Directors of the Company.

11.8	Construction of Agreement - This Plan and Trust agreement shall be
construed according to the laws of the state of Georgia, and all provisions
hereof shall be administered according to, and its validity and
enforceability shall be determined under the laws of such state, except
where preempted by ERISA.

11.9	Headings - The headings of Sections and subsections are for ease of
reference only and shall not be construed to limit or modify the detailed
provisions hereof.

                                     47

<PAGE>

                                 ARTICLE XII

                           TOP-HEAVY PLAN PROVISIONS

12.1	Application - In the event that the Plan is determined to be a Top-
Heavy Plan as hereinafter defined, this Article XII shall become effective as
of the first day of the Plan Year in which the Plan is a Top-Heavy Plan.

12.2	Definitions

(a)	Compensation - The compensation (within the meaning of Code Section
415(c)(3)) of the Participant from the Employer for the Plan Year.

(b)	Key Employee - During any Plan Year that the Plan is a Top-Heavy Plan,
an Employee who is a Key Employee within the meaning of Code Section 416(i),
including any Employee, former Employee or Beneficiary of an Employee or
former Employee who at any time during the Plan Year or any of the four (4)
preceding Plan Years, is (or was):

(i)	an officer of the Employer whose Compensation is greater than 50% of
the amount in effect under Code Section 415(b)(1)(A) for any such Plan Year;

(ii)	1 of the 10 Employees having Compensation of more than the dollar
limitation in Code Section 415(c)(1)(A) and owning (or considered as owning
within the meaning of Code Section 318) one of the largest interests in the
Employer, which interest is at least 1/2%;

(iii)	a one percent (1%) owner of the Employer having Compensation of more
than $170,000 (as indexed); or

(iv)	a five percent (5%) owner of the Employer.

Ownership shall be determined according to Code Section 416(i)(1)(B). For
purposes of (i) above, no more than fifty (50) Employees (or if less, the
greater of three (3) or ten percent (10%) of the Employees) shall be treated
as officers.  For purposes of (ii) above, if two Employees have the same
interest in the Employer, the Employee with the higher Compensation shall be
treated as having the larger interest.  An Employee or former Employee who
is not a Key Employee shall be a non-Key Employee.

(c)	Minimum Contribution - For a Plan Year, the lesser of three percent
(3%) of a Participant's compensation (within the meaning of Treasury Regulation
Section 1.415-2(d)) or a percentage of a Participant's compensation equal to
the percentage at which contributions are made (or required to be made)
under the Plan and all other plans of the Aggregation Group for the Key
Employee for whom such percentage is highest.

(d)	Top-Heavy Plan - With respect to any Plan Year, this Plan shall be
deemed Top-Heavy if the aggregate of the Account Balances of all Key Employees
in the Plan exceeds sixty percent (60%) of the aggregate of the Account
Balances of all Participants in the Plan, such determination to be made in
accordance with the procedures described in Code Section 416(g) as of the

                                     48

<PAGE>

Annual Valuation Date immediately preceding such Plan Year (or in the case
of the first Plan Year, as of the last day of such Plan Year).  For purposes
of determining whether the Plan is a Top-Heavy Plan, the Plan shall be
aggregated with all other plans within the Aggregation Group.

(e)	Aggregation Group - All plans maintained by the Employer (i) which are
required to be aggregated with the Plan in order for the Plan to meet the
requirements of Code Sections 401(a)(4) and 410, (ii) in which a Key
Employee is a participant, and (iii) any other plan of the Employer that the
Employer elects to include in the Aggregation Group, provided that any such
plan would not cause the Aggregation Group to fail to meet the requirements
of Code Sections 401(a)(4) and 410 with such plan being taken into account.

12.3	Allocation of Minimum Contribution - For any year in which the Plan is
a Top-Heavy Plan, the Minimum Contribution as defined in Section 12.2(c)
hereof shall be made to the account of each Participant who is a non-Key
Employee, unless the Minimum Contribution for the Participant is made under
another defined contribution plan maintained by the Employer.  Such Minimum
Contribution shall be made to the Employer Contribution Account of each non-
Key Employee Participant who has not separated from service on the last day
of such Plan Year without regard to such Participant's Hours of Service
during such Plan Year.  The Employer and Plan Administrator shall determine
under which plan a Participant shall receive the Minimum Contribution if the
Employee is a Participant in more than one plan maintained by the Employer.

12.4	Post-EGTRRA Top-Heavy Provisions

(a)	Effective date - This Section 12.4 shall apply for purposes of determining
whether the Plan is a Top-Heavy Plan under Code Section 416(g) for Plan
Years beginning after December 31, 2001, and whether the Plan satisfies the
minimum benefits requirements of Code Section 416(c) for such years.  This
Section 12.4 amends Sections 12.1 through 12.3 of the Plan.

(b)	Determination of Top-Heavy Status

(i)	Key Employee - Key Employee means any Employee or former Employee
(including any deceased Employee) who at any time during the Plan Year that
includes the determination date was an officer of the Employer having Top-
Heavy Compensation greater than $135,000 (as adjusted under Code Section
416(i)(1) for Plan Years beginning after December 31, 2005), a 5% owner of
the Employer, or a 1% owner of the Employer having Top-Heavy Compensation of
more than $150,000.  For this purpose, Top-Heavy Compensation means
compensation within the meaning of Code Section 415(c)(3).  The
determination of who is a key employee will be made in accordance with Code
Section 416(i)(1) and the applicable regulations and other guidance of
general applicability issued thereunder.

(ii)	Determination of Present Values and Amounts - This Section 12.4(b)(ii)
shall apply for purposes of determining the amounts of Participant's
accounts as of the determination date.

                                     49

<PAGE>

(1)	Distributions During Year Ending on the Determination Date - The
amounts of account balances of an Employee as of the determination date shall
be increased by the distributions made with respect to the Employee under the
Plan and any plan aggregated with the Plan under Code Section 416(g)(2)
during the 1-year period ending on the determination date.  The preceding
sentence shall also apply to distributions under a terminated plan which,
had it not been terminated, would have been aggregated with the Plan under
Code Section 416(g)(2)(A)(i).  In the case of a distribution made for a
reason other than separation from service, death, or disability, this
provision shall be applied by substituting "5-year period" for "1-year
period."

(2)	Employees Not Performing Services During Year Ending on the
Determination Date - The accounts of any individual who has not performed
services for the Employer during the 1-year period ending on the determination
date shall not be taken into account.

(c)	Non-Applicability of Top-Heavy Provisions - The top-heavy requirements
of Code Section 416 and this Section 12.4 of the Plan shall not apply in any
year beginning after December 31, 2001 in which the Plan consists solely of
a cash or deferred arrangement which meets the requirements of Code Section
401(k)(12) and matching contributions with respect to which the requirements
of Code Section 401(m)(11) are met.

                                     50

<PAGE>

IN WITNESS WHEREOF, the Company and each adopting Employer has caused this
Agreement to be executed by its duly authorized corporate officers and its
corporate seal to be hereunto affixed, and the Trustee has executed same
under seal and thereby accepted the Trust the day and year first above
written.

                                         COMPANY:

                                         SOUTHWEST GEORGIA FINANCIAL
                                         CORPORATION
(CORPORATE SEAL)

ATTEST:  /s/Donna Lott                   By:     /s/DeWitt Drew
         AVP and Secretary               Title:  President & CEO

                                         ADOPTING EMPLOYER:

                                         SOUTHWEST GEORGIA BANK
(CORPORATE SEAL)

ATTEST:  /s/Donna Lott                   By:     /s/DeWitt Drew
         AVP and Secretary               Title:  President & CEO

                                         TRUSTEE:

                                         SOUTHWEST GEORGIA BANK
(CORPORATE SEAL)

ATTEST:  /s/Donna Lott                   By:     /s/Richard E. Holland
         AVP and Secretary               Title:  Vice President & Trust Officer

<PAGE>

                                  SCHEDULE A

                              Acquired Employers
                         Service Crediting Provisions

Acquired Company                           Credited Service

Baker County Bank                          Prior service with Baker County
                                           Bank is recognized for participation
                                           purposes.

Moultrie Federal Savings                   Any employee who was actively
and Loan                                   employed on January 7, 1991
                                           automatically became a
                                           participant on January 7, 1991.

Bank of Pavo (acquired                     Immediate participation for
12/11/98)                                  employees of Bank of Pavo upon
                                           closing of acquisition.

Empire Financial Services, Inc.            Service of employees with
                                           Empire Financial Services, Inc.
                                           prior to January 1, 2002 is
                                           counted for eligibility and
                                           vesting but not as credited
                                           service or for allocations of
                                           Employer Contributions.

Sylvester Banking Company                  Immediate participation for
                                           employees of Sylvester Banking
                                           Company.
                                           Prior service with Sylvester
                                           Banking Company is recognized
                                           for eligibility and vesting
                                           purposes but not as credited
                                           service or for allocations of
                                           Employer Contributions.  Prior
                                           service with Sylvester Banking
                                           Company will be counted for the
                                           Break in Service rules under
                                           Section 2.3 of the Plan.

<PAGE>

                                 SCHEDULE B

                              Adopting Employers
                and Dates of Adoption since prior plan document

                                                            Date Ceased to be
Adopting Employer               Date of Adoption            Adopting Employer

Southwest Georgia                 May 1, 1999             8/3/00 - date company
Insurance Service, Inc.                                            dissolved
(doing business as
Moultrie Insurance
Agency)

Empire Financial                January 1, 2002
Services, Inc.

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