Document:

EXHIBIT 4.1

                                MONSANTO COMPANY
                    ERISA PARITY SAVINGS AND INVESTMENT PLAN
                (Amended and Restated Effective August 13, 2002)

                                   SECTION 1.
                                    PURPOSE
                                    -------

Pharmacia  Corporation  (formerly known as Monsanto  Company)  ("PHARMACIA") has
sponsored the Pharmacia  Corporation  ERISA Parity Savings and  Investment  Plan
(formerly  known as the Monsanto  Company  ERISA Parity  Savings and  Investment
Plan) (the  "PHARMACIA  PARITY  PLAN") to  provide  certain  federal  income tax
deferral opportunities and retirement benefits to certain participants and their
beneficiaries under the Pharmacia Savings and Investment Plan (formerly known as
the Monsanto Savings and Investment  Plan) (the "PHARMACIA SIP PLAN").  Prior to
July 1, 2001 (the "EFFECTIVE DATE"), eligible employees of Monsanto Company (the
"COMPANY") and its  subsidiaries  participated in the Pharmacia SIP Plan and the
Pharmacia Parity Plan.

As of the  Effective  Date,  the  Pharmacia SIP Plan was split into two separate
plans:  (1) the Monsanto  Savings and Investment Plan, as it may be amended from
time to time (the "SIP PLAN")  which is  sponsored  by the Company and  provides
savings opportunities and retirement income to eligible employees of the Company
and certain of its  subsidiaries,  and (2) the continuing  Pharmacia Savings and
Investment  Plan (the  "PHARMACIA SIP PLAN") which  continues to be sponsored by
Pharmacia and provides savings  opportunities  and retirement income to eligible
employees of Pharmacia and certain of its subsidiaries and affiliates (exclusive
of the Company and its subsidiaries).

Effective  as  of  the  Effective  Date,   employees  of  the  Company  and  its
subsidiaries  ceased to be  eligible  to continue  active  participation  in the
Pharmacia SIP Plan and the Pharmacia Parity Plan.  Effective as of the Effective
Date, the Monsanto Company ERISA Parity Savings and Investment Plan (the "PLAN")
was  established  by the Company as a successor to the Pharmacia  Parity Plan to
provide  certain  federal  income  tax  deferral  opportunities  and  retirement
benefits  to certain  Participants  and their  beneficiaries  under the SIP Plan
following the Effective Date.

The Plan is  intended to be an unfunded  plan of  deferred  compensation  and an
"excess  benefit plan" as defined by Sections  3(36) and 4(b)(5) of the Employee
Retirement  Income Security Act of 1974  ("ERISA").  The purpose of this Plan is
solely to provide Participants and their beneficiaries under the SIP Plan with:

A.   the right to defer federal income taxation on the portion of their Eligible
     Earnings  that  could  have  been  contributed  to the SIP Plan but for the
     limitations  placed  on the  Annual  Additions  to the SIP Plan by  Section
     415(c)(1)(A) of the Internal Revenue Code of 1986 or any successor thereto,
     all as  amended  from time to time  ("CODE"),  and the  limitations  on the
     maximum amount of  compensation  that may be considered in determining  the
     Annual Additions of the Participant  under Section  401(a)(17) of the Code;
     and

B.   the  right  to  receive  an  amount  equal  to the  amount  which  would be
     distributable  from the SIP Plan at retirement,  termination of employment,
     death or disability, but for the limitations placed on the Annual Additions
     to the  SIP  Plan  by  Section  415(c)(1)(A)  of  the  Code  ("SECTION  415
     LIMITATION"),  and the  limitations on the maximum  amount of  compensation
     which  may  be  considered  in  determining  the  Annual  Addition  of  the
     Participant   under   Section   401(a)(17)   of  the  Code   ("COMPENSATION
     LIMITATION"),  less the amounts actually  distributed to the Participant or
     his beneficiaries from the SIP Plan.

                                   SECTION 2.
                                 EFFECTIVE DATE
                                 --------------

This  Plan  was  established  effective  as of July 1,  2001.  The Plan has been
amended and  restated as set forth herein  effective as of August 13, 2002,  and
shall be effective as so amended and restated,  with respect to Participants who
perform an Hour of Service for an Employer on or after such date.

                                   SECTION 3.
                                  DEFINITIONS
                                  -----------

3.1  Except as defined otherwise  herein,  all words with initial capitals shall
     have the same  meaning  as in the SIP Plan,  whether  or not such words are
     capitalized in the SIP Plan.

3.2  (a)  "ELIGIBLE  EARNINGS"  shall  have the same  meaning as in the SIP Plan
          except that Eligible  Earnings shall also include amounts in excess of
          the Compensation Limitation.

     (b)  "EXCESS   CONTRIBUTION"   shall  mean  any  Before-Tax   Contribution,
          After-Tax  Contribution  or Employer  Matching  Contribution  (whether
          considered  individually  or in  any  combination  thereof)  which  if
          contributed by a SIP  Participant or an Employer to the SIP Plan would
          either: (1) constitute an Annual Addition in excess of the Section 415
          Limitation  or (2) be  precluded  solely  because of the  Compensation
          Limitation.

     (c)  "PARITY  PENSION  PLAN"  shall  mean the plan  currently  known as the
          Monsanto  Company  ERISA Parity  Pension Plan, as amended and restated
          from time to time, or any successor thereto.

     (d)  "PARTICIPANT"  shall  mean an  employee  of an  Employer  who is a SIP
          Participant,  whose participation in the SIP Plan is limited by either
          (1) the Section 415 Limitation or (2) the Compensation Limitation, who
          has elected to participate in this Plan in accordance with Section 4.1
          and for whom benefits under this Plan will be accrued.

     (e)  "SIP  PARTICIPANT"  shall  mean a  participant  in the SIP Plan to the
          extent of his participation in that plan.

                                   SECTION 4.
                             ADDITIONS TO THE PLAN
                             ---------------------

4.1  PARTICIPATION.  Participation  in  this  Plan  shall  be  governed  by  the
     following provisions of this Section 4.1.

     (a)  PARTICIPANTS  IN PHARMACIA  PARITY PLAN.  Each employee of an Employer
          who (i) was a  participant  in the Pharmacia  Parity Plan  immediately
          prior to the Effective  Date (a "PHARMACIA  PARITY PLAN  PARTICIPANT")
          and (ii)  becomes a SIP  Participant  as of the  Effective  Date shall
          thereupon  become a Participant in this Plan. Each such  Participant's
          deferral   election  in  effect  under  the   Pharmacia   Parity  Plan
          immediately  prior  to the  Effective  Date  shall  be  deemed a valid
          deferral election under this Plan unless and until revoked or modified
          by the Participant in accordance with the provisions of this Plan.

     (b)  OTHER  SIP  PARTICIPANTS.  Participation  in this Plan on or after the
          Effective  Date by a SIP  Participant  who was not a Pharmacia  Parity
          Plan Participant shall be governed by this Section 4.1(b).

          Except as provided below,  prior to the beginning of the calendar year
          in which it is estimated  that Excess  Contributions  would be made to
          the SIP Plan by or on behalf of a SIP  Participant,  the Company shall
          notify the SIP Participant  that some or all of his  contributions  to
          the SIP  Plan,  or those  made on his  behalf,  shall  cease as of the
          earlier  of (1) the date  such  contributions  equal the  Section  415
          Limitation   or  (2)  the  date  his  Eligible   Earnings   equal  the
          Compensation  Limitation.  Such a SIP Participant shall have the right
          to elect in writing to defer  receipt of the  portion of his  Eligible
          Earnings  that  would   constitute   Excess   Contributions.   If  the
          Participant  elects to defer  receipt of such  portion of his Eligible
          Earnings, additions to this Plan shall be made as specified in Section
          4.2 hereof.  Once made,  the  election  shall  remain in effect  until
          revoked or modified by the Participant.

          The  election  shall be made in a manner  prescribed  by the  Employee
          Benefits Plans Committee of the Company ("EBPC"). In the case of a SIP
          Participant  for  whom it was not  foreseen  that he  would  become  a
          Participant prior to the year in which Excess  Contributions  would be
          made  to the SIP  Plan by or on  behalf  of the SIP  Participant,  the
          required election shall be made at such a time and in such a manner as
          specified  by the EBPC but such  election  shall in all such  cases be
          made prior to any  payroll  period to which the  deferral  of Eligible
          Earnings relates.

     (c)  REVOCATION OR  MODIFICATION OF ELECTION.  If a Participant  revokes or
          modifies his election to  participate  in this Plan, his revocation or
          modification must be submitted to the Secretary of the EBPC in writing
          prior  to the  beginning  of the  month  in which  the  revocation  or
          modification is to take effect. If a Participant  revokes his election
          to  participate  in this  Plan,  he may  not  re-enroll  as an  active
          Participant  during the  remainder of the  calendar  year in which his
          revocation  takes place. Any election by a Participant to re-enroll as
          an active Participant must be submitted in writing to the Secretary of
          the  EBPC  prior to the  beginning  of the  calendar  year in which he
          wishes to re-enroll.

4.2  TREATMENT OF A  PARTICIPANT'S  EXCESS  CONTRIBUTIONS.  When a Participant's
     Before-Tax  Contributions or After-Tax  Contributions made on his behalf by
     an Employer would become Excess  Contributions  (hereinafter  individually,
     collectively or in any combination  thereof referred to as "EMPLOYEE EXCESS
     CONTRIBUTIONS"),  no further Before-Tax or After-Tax Contributions shall be
     made to the SIP Plan for that Plan Year. If the SIP  Participant  elects to
     participate  in this Plan,  his Eligible  Earnings  shall be reduced by the
     amount  of  such  Employee  Excess   Contributions,   and  there  shall  be
     established  in the name of the  Participant  a  reserve  on the  financial
     records  of the  Company  equal  to the  amounts  of such  Employee  Excess
     Contributions.  For each  Participant  as of the  Effective  Date who was a
     Pharmacia  Parity  Plan  Participant,  there  shall also be credited to the
     reserve  established  under this Section 4.2 as of the Effective  Date, the
     balance to the credit of such  Participant  as of the Effective  Date under
     the employee  excess  contributions  reserve  established  on the financial
     records of Pharmacia pursuant to section 4.2 of the Pharmacia Parity Plan.

     The reserve for each  Participant  shall be credited  and charged  with the
     dividends,  income,  gains and losses, and adjusted for stock splits, stock
     dividends,   recapitalizations,   consolidations   or  other   changes   in
     capitalization,  as the case may be,  that  such  amount  would  have  been
     credited, charged with or adjusted for, if such amount had been invested in
     the  Investment  Funds,  Pre-Mixed  Portfolios,  Pharmacia  Stock  Fund and
     Chemical  Stock  Fund  of the  SIP  Plan  in  the  same  proportion  as the
     Participant's  Participant  Accounts under the SIP Plan, except as provided
     in Section 5.2.

     Notwithstanding  the  foregoing,  if the  application of this Section would
     result in a violation  of the federal  securities  laws with respect to the
     Company  Stock Fund,  the reserve  shall be credited  and charged  with the
     income,  gains and losses with  respect to such amount that would have been
     credited  and charged had such  amount been  contributed  to the Growth and
     Income Equity Investment Fund not the Company Stock Fund.

4.3  TREATMENT OF AN EMPLOYER'S  EXCESS  CONTRIBUTIONS.  When Employer  Matching
     Contributions   on  behalf  of  a  SIP  Participant   would  become  Excess
     Contributions  ("EMPLOYER  EXCESS  CONTRIBUTIONS"),   no  further  Employer
     Matching Contributions shall be made to the SIP Plan for that Plan Year. If
     the SIP  Participant  elects to  participate  in this Plan,  there shall be
     established  a  reserve  in the name of the  Participant  on the  financial
     records of the Company to which  shall be  credited an amount  equal to the
     amount of such Employer Excess  Contributions.  For each  Participant as of
     the Effective Date who was a Pharmacia Parity Plan Participant, there shall
     also be credited to the reserve  established  under this  Section 4.3 as of
     the Effective Date, the balance to the credit of such Participant as of the
     Effective Date under the employer excess contributions  reserve established
     on the  financial  records of  Pharmacia  pursuant  to  section  4.3 of the
     Pharmacia Parity Plan.

     This  reserve  shall be  credited  and  charged  with the gains and losses,
     dividends  and income,  and adjusted  for stock  splits,  stock  dividends,
     recapitalizations,  consolidations or other changes in  capitalization,  as
     the case may be, that would have taken place had such amount been  invested
     in the  Investment  Funds,  Pre-Mixed  Portfolios,  Employer  Company Stock
     Sub-Fund,  Pharmacia  Stock Fund and Chemical Stock Fund of the SIP Plan in
     the same manner as the  Participant's  Employer  Matching Account under the
     SIP Plan, except as provided in Section 5.2.

                                   SECTION 5.
                                   OPERATION
                                   ---------

5.1  CHANGE IN FUTURE  ADDITIONS.  When a  Participant  changes  his  Investment
     Election  for  future  contributions  under the SIP Plan,  a  corresponding
     change  shall  be made in the  calculation  of  future  adjustments  to the
     Participant's  reserves established for Employee Excess Contributions under
     this Plan.

5.2  CHANGE IN PAST  ADDITIONS.  When a Participant  makes a transfer out of the
     Employer  Company Stock  Sub-Fund,  Pharmacia  Stock Fund or Chemical Stock
     Fund or between  Investment  Funds and/or  Pre-Mixed  Portfolios in the SIP
     Plan,  excluding any such transfer made by specifying  the specific  dollar
     amount  to be  transferred,  a  corresponding  change  shall be made in the
     calculation of future adjustments to the Participant's  reserves for Excess
     Contributions under this Plan.

5.3  BENEFICIARY  DESIGNATION.  Except as provided in Section 6.2(e) below,  the
     beneficiary  designation in effect for the  Participant  under the SIP Plan
     shall  govern  to whom  distributions  are to be made from this Plan in the
     event the  Participant  dies prior to receipt of the  amounts due him under
     this Plan. In the event that a Participant fails to designate a beneficiary
     under  the SIP  Plan  or the  designated  beneficiary  under  the SIP  Plan
     predeceases the Participant,  the  Participant's  reserves shall be paid to
     the deceased Participant's estate.

5.4  LOANS  PROHIBITED.  No loans shall be permitted to any  Participant  of any
     amounts  reserved by the Company for his account under this Plan. No amount
     reserved  by the  Company  for a  Participant  under  this  Plan  shall  be
     considered as part of the  Participant's  SIP Plan Accounts for purposes of
     determining the maximum amounts that can be borrowed from the SIP Plan.

5.5  VESTING.  A  Participant's  interest in the Employee  Excess  Contributions
     reserves  established  for him  shall be  nonforfeitable.  A  Participant's
     interest in the Employer Excess Contributions  reserves established for him
     shall become  nonforfeitable  at such times and in such percentages as they
     would  have if they  had been  made to the SIP  Plan.  Notwithstanding  the
     foregoing,  even though a Participant's interests in this Plan shall become
     nonforfeitable,  he shall  still  remain a general  creditor of the Company
     with  respect to such  reserves  and shall not have any  security  or other
     interest in any assets of the  Company,  or any other  Employer,  due to or
     arising  from the fact that any  portion of his  interest in the reserve is
     nonforfeitable.

5.6  SIP PLAN PERCENTAGE OF ELIGIBLE EARNINGS CHANGES.  A Participant may change
     the portion of his Eligible  Earnings that will be deferred under this Plan
     by changing the percentage of his Eligible Earnings he wishes to contribute
     to SIP. The change  (including  the effective  date of the change) shall be
     governed by the relevant SIP Plan provisions.

                                   SECTION 6.
                                  DISTRIBUTION
                                  ------------

6.1  DISTRIBUTION  AT  TERMINATION.   Nonforfeitable   amounts  reserved  for  a
     Participant  shall not be paid until a Participant  terminates  employment.
     The value of the  Participant's  nonforfeitable  reserves  under  this Plan
     shall be  determined at the same time and in the same manner that the value
     of the Participant's SIP Accounts are determined.  Unless a Participant has
     been granted a Deferral  Request under Section 6.2 below,  the value of the
     Participant's  nonforfeitable  reserves  shall  be  paid  to  him,  or  his
     beneficiaries, in cash as soon as administratively feasible after the first
     January 1 or July 1 that is at least  six  months  after the  Participant's
     termination or death.

6.2  DEFERRAL  REQUEST.  A  Participant  who  terminates   employment  from  the
     Employers   and  all   Affiliates   may  request  that  the  Company  defer
     distribution  of the amounts accrued  hereunder as provided  below.  Such a
     request shall hereinafter be referred to as a "DEFERRAL REQUEST."

     (a)  SUBMISSION AND  CONSIDERATION.  The Deferral Request must be submitted
          to the  Secretary  of the EBPC in  writing  on forms  provided  by the
          Secretary prior to the  Participant's  termination of employment.  The
          request must specify the Deferral  Period (as defined in  subparagraph
          6.2(c) below) and the Payment Form (as defined in subparagraph  6.2(f)
          below) requested by the Participant.  Except as otherwise  provided in
          this  paragraph,   the  EBPC  shall,  in  the  exercise  of  its  sole
          discretion,  determine  within  a  reasonable  period  of  time if the
          Deferral  Request  should be granted,  and its decision shall be final
          and binding on all persons.  If the EBPC does not approve the Deferral
          Request  during  the thirty day  period  following  the  Participant's
          termination of employment, it shall be deemed to be denied. The People
          and  Compensation  Committee  of the Board of Directors of the Company
          ("COMPENSATION  COMMITTEE")shall  review within a reasonable period of
          time a Deferral  Request  submitted by a Participant who is an officer
          subject  to  the  reporting  requirements  of  Section  16(a)  of  the
          Securities  Exchange  Act of 1934,  or who is,  or at any time  within
          three  months of the  submission  of the request  was, a member of the
          EBPC and shall, in the exercise of its sole  discretion,  determine if
          the  Deferral   Request   shall  be  granted.   The  decision  of  the
          Compensation  Committee shall be final and binding on all persons.  If
          the  Compensation  Committee  does not  approve the  Deferral  Request
          during the thirty day period following the  Participant's  termination
          of employment, it shall be deemed to be denied.

     (b)  EFFECT OF DECISION. The decision of the applicable committee, to grant
          a Deferral  Request shall specify the Deferral  Period and the Payment
          Form.  Except as provided  in  subsections  (g) and (h) below,  once a
          Deferral  Request has been  submitted,  the Deferral  Request shall be
          irrevocable.  A Participant's  Deferral Request that was granted under
          the Pharmacia Parity Plan shall remain in effect under this Plan.

     (c)  DETERMINATION OF DEFERRAL  PERIOD.  Any Deferral Period granted by the
          applicable  committee shall be a minimum of three years from the first
          January  1  or  July  1  that  is  at  least  six  months   after  the
          Participant's  termination  of  employment,  except that  payment must
          begin no later than the date the Participant  attains age 70-1/2.  The
          Deferral Period may, but need not,  coincide with the Deferral Period,
          if any, granted under the Pension Parity Plan.

     (d)  ACCRUAL DURING DEFERRAL PERIOD. If a Deferral Request is granted,  the
          entire  amount of all reserves  maintained  by the Company  under this
          Plan for the Participant  during the Deferral Period shall be credited
          with  interest at a rate set from time to time by the Internal  People
          Committee.

     (e)  BENEFICIARY  DESIGNATION.  Each  Participant  who has been  granted  a
          Deferral  Request  may,  from time to time,  designate  a  beneficiary
          ("DEATH BENEFIT  BENEFICIARY") to receive the death benefit payable if
          he dies during the  Deferral  Period and a  beneficiary  ("PAY  STATUS
          BENEFICIARY")  to receive any death benefit payable if the Participant
          dies  after he  begins  receiving  his  benefits.  The  Death  Benefit
          Beneficiary and the Pay Status Beneficiary  designations shall be made
          in writing on forms provided by the EBPC. Any beneficiary  designation
          shall be  effective  only  when it is  signed,  dated and filed by the
          Participant   with  the  Secretary  of  the  EBPC.   Any   beneficiary
          designation  shall be  deemed  to be a valid  beneficiary  designation
          unless and until the Participant revokes such beneficiary  designation
          or makes a new  beneficiary  designation as provided in this Plan, but
          any such  change  shall be  effective  only if it is  received  by the
          Secretary of the EBPC prior to the  Participant's  death. In the event
          that a  Participant  fails to  designate a Death  Benefit  Beneficiary
          and/or a Pay Status Beneficiary, or such a designated beneficiary does
          not survive the Participant,  the Participant's reserves shall be paid
          to the deceased  Participant's estate. The Participant may designate a
          different  beneficiary,  if any, than he  designated  under the Parity
          Pension  Plan.  The term  "beneficiary"  as used in the Plan means the
          person or persons, trust(s),  estate(s) or other entity(ies) to whom a
          deceased  Participant's  benefits are payable  under this  section.  A
          Participant's  Death  Benefit  Beneficiary  designation  or Pay Status
          Beneficiary  designation  in effect  under the  Pharmacia  Parity Plan
          immediately  prior  to the  Effective  Date  shall  be  deemed a valid
          beneficiary   designation   under  this  Plan  unless  and  until  the
          Participant  revokes  such  beneficiary  designation  or  makes  a new
          beneficiary designation as provided in this Plan.

     (f)  PAYMENT FORM. As part of his Deferral  Request,  the Participant shall
          request  that at the end of the  Deferral  Period,  the  Participant's
          Deferred  Excess  Contributions  shall be paid  pursuant to one of the
          Deferred  Payment  Forms  specified in the Parity  Pension  Plan.  The
          Deferred  Payment  Forms  provisions  of the Parity  Pension  Plan are
          hereby incorporated by reference and made a part hereof.

     (g)  DEATH OF  PARTICIPANT.  In the event that a  Participant  who has been
          granted a Deferral  Request dies prior to  termination  of employment,
          the  Deferral  Request  shall  be  cancelled,  and  the  Participant's
          reserves  shall be paid to the  beneficiary  designated  under Section
          6.2(e) hereof in cash as soon as  administratively  feasible after the
          January  1  or  July  1  that  is  at  least  six  months   after  the
          Participant's  death. When the applicable  committee grants a Deferral
          Request,  it shall  require as a term and  condition of the grant that
          the  Deferral  Request will only become  effective if the  Participant
          lives until his termination of employment.

          In the  event  that a  Participant  who has been  granted  a  Deferral
          Request dies during the Deferral Period, his reserves shall be paid to
          his  designated   Death  Benefit   Beneficiary  in  60  equal  monthly
          installments  commencing  on the first day of the month  following the
          month in which the Participant dies.

     (h)  FINANCIAL EMERGENCY DISTRIBUTION.  In the event that a Participant who
          has been  granted a Deferral  Request  incurs a severe,  unforeseeable
          financial  emergency  either after his  termination  of  employment or
          after payment has begun, such Participant may request from the EBPC or
          Compensation  Committee,  as applicable,  an emergency distribution of
          the  amount  necessary  to  satisfy  the  financial   emergency.   The
          applicable  committee  shall have sole  authority  to  determine  if a
          financial   emergency  exists  and  the  amount  of  the  distribution
          necessary  to meet  the  emergency.  The  decision  of the  applicable
          committee shall be final and binding upon all parties.  The applicable
          committee may determine that a severe  financial  hardship exists only
          if the  distribution  is  necessary  in light of  immediate  and heavy
          financial needs of the Participant  which cannot be met from the other
          financial  sources available to the Participant and if disallowance of
          the  accelerated  distribution  would  result  in a  severe  financial
          hardship to the Participant.  Amounts which are distributed under this
          provision will reduce the Participant's benefit.

                                   SECTION 7.
                               SOURCE OF PAYMENTS
                               ------------------

All amounts  due under this Plan and any  expenses  of  administration  shall be
payable solely from the general assets of the Employers.  The  establishment  of
this Plan, and the operation thereof,  shall not be deemed to create a trust. No
Participant  shall  have any  security  or other  interest  in any assets of the
Employers due to or arising from his participation in this Plan.

                                   SECTION 8.
                                 ADMINISTRATION
                                 --------------

Except as otherwise  provided herein,  the EBPC shall administer this Plan which
shall be generally  governed by the rules and provisions of the SIP Plan, except
those portions of such SIP Plan which conflict herewith.  The EBPC may, however,
adopt  such  rules  as it may  deem  necessary,  desirable  and  appropriate  to
administer  this Plan.  The decisions of the EBPC,  including but not limited to
interpretations  and  determinations  of amounts  due under this Plan,  shall be
final  and  binding  on all  parties.  Notwithstanding  anything  herein  to the
contrary, the EBPC may delegate any of its authority, duties or responsibilities
under this Plan to any other  person,  including  the Company and its  officers,
employees or agents. Such a delegation shall be in writing and shall specify the
identity of the delegate and the responsibilities delegated to such person.

                                   SECTION 9.
                            LIMITATIONS ON PAYMENTS
                            -----------------------

Except as may be required by the federal  income tax  withholding  provisions of
the Code, by an  applicable  state's  income tax act, or by an applicable  city,
county  or  municipality's   earnings  or  income  tax  act,  the  interests  of
Participants and their designated  beneficiaries under this Plan are not subject
to the claims of their  creditors and may not be  voluntarily  or  involuntarily
sold, transferred, alienated, assigned, pledged, anticipated, or encumbered. Any
attempt by a  Participant,  his  beneficiary,  or any other  person or entity to
sell,  transfer,  alienate,  assign,  pledge,  anticipate,  encumber,  charge or
otherwise  dispose of any right to benefits payable hereunder shall be void. The
Company  may cancel and  refuse to pay any  portion of a benefit  which is sold,
transferred, alienated, assigned, pledged, anticipated or encumbered.

                                  SECTION 10.
                           AMENDMENT AND TERMINATION
                           -------------------------

The  Company  retains  the right to amend this Plan at any time and from time to
time through action of either the  Compensation  Committee or its delegate.  The
Company  retains the right to terminate  this Plan at any time through action of
the Compensation Committee.

                                  SECTION 11.
                               GENERAL PROVISIONS
                               ------------------

11.1 FACILITY OF PAYMENT.  When a person  entitled to a distribution  under this
     Plan is under a legal disability, or, in the opinion of the EBPC, is in any
     way incapacitated and unable to manage his financial affairs,  the EBPC may
     direct  that the  distribution  to which  such  person  otherwise  would be
     entitled  shall be made to such person's  legal  representative(s)  or to a
     relative or friend of such person for such  person's  benefit,  or the EBPC
     may direct the  application  of such  distribution  for the benefit of such
     person.

11.2 ABSENCE OF GUARANTY. The EBPC, the Compensation Committee and the Employers
     do not in any way guarantee any payment to any person.

11.3 EMPLOYMENT RIGHTS.  This Plan does not constitute a contract of employment,
     and participation in the Plan will not give any Participant the right to be
     retained in the employment of any Employer or Affiliate.

11.4 GENDER AND NUMBER.  Where the context admits,  words denoting the masculine
     gender shall include the feminine and neuter  genders,  the singular  shall
     include the plural, and the plural shall include the singular.

11.5 HEADINGS.  Section headings and titles are for reference only. In the event
     of a conflict between a title and the content of a section,  the content of
     the section shall control.

11.6 SUCCESSORS.  The provisions of this Plan shall be binding upon the Company,
     the  Employers  and  successors  and  assigns  of any of them  and upon the
     Participant   and   his   heirs,    beneficiaries,    estates   and   legal
     representatives.

11.7 CONTROLLING  STATE LAW.  To the extent  not  superseded  by the laws of the
     United States, the laws of the State of Missouri, determined without regard
     to its conflict of law rules,  shall be controlling in all matters relating
     to this Plan.

11.8 SEVERABILITY.  In case any  provision of this Plan shall be held illegal or
     invalid for any reason,  such illegality or invalidity shall not affect the
     remaining  provisions  of the Plan,  and this Plan shall be  construed  and
     enforced as if such illegal and invalid provisions had never been set forth
     in the Plan.<PAGE>

                                                                    Exhibit 10.1

                           THE EDWIN LEWIS BONUS PLAN

I.       PURPOSE OF THE PLAN

         The Edwin Lewis Bonus Plan (the "Plan") is designed to provide Edwin H.
Lewis ("Executive") with bonus compensation for the accomplishment of specific
preestablished financial performance objectives (the "Performance Objectives")
by the Company, based on objective business criteria that enhance value for the
Company's stockholders. Such bonus compensation is not intended to be "qualified
performance-based compensation" within the meaning of Section 162(m) of the
Internal Revenue Code of 1986, as amended (the "Code"), and the regulations
promulgated thereunder.

II.      EFFECTIVE DATE, TERM AND CONTRACT YEAR

         The Plan shall be effective as of February 1, 2002 and shall remain in
effect until January 31, 2007, or until such earlier time as it be terminated by
the Board of Directors of the Company (the "Board") in accordance with Section
9.

         The Plan year (the "Contract Year") shall commence on each February
and end on January 31 of the following year, during the term of the Plan.

III.      ELIGIBILITY

         Executive shall be eligible to participate in the Plan during such time
as Executive is employed by the Company, unless otherwise determined by the
Committee. No other person shall be eligible to participate in the Plan.

IV.      BUSINESS CRITERIA

         Executive shall be eligible to earn an annual bonus (the "Annual
Bonus") based on the achievement of the Performance Objectives by the Company,
as determined by the Compensation Committee (the "Committee") of the Board. The
Performance Objectives shall be based on any of the following objective business
criteria, either alone or in any combination, and measured either on an absolute
basis, on a relative basis against one or more pre-established targets, peer
group performance, or past Company performance, as the Committee, in its sole
discretion, determines:

         o        revenue,

         o        cash flow,

         o        return on equity,

         o        total stockholder return,

         o        return on capital,

         o        return on assets or net assets,

                                       1
<PAGE>

         o        income or net income,

         o        operating income or net operating income,

         o        operating profit or net operating profit,

         o        operating margin,

         o        market share,

         o        earnings per share, or

         o        royalties earned by, or paid to, the Company pursuant to one
                  or more license agreements entered into by the Company.

         Any such Performance Objectives shall apply in determining Executive's
Annual Bonus, or in determining any designated portion or portions of the Annual
Bonus, as the Committee, in its sole discretion, determines.

V.       PERFORMANCE OBJECTIVES

         The Performance Objectives established by the Committee shall apply to
a Contract Year, as determined by the Committee. Such Performance Objectives
shall be set forth on an exhibit to the Plan and shall be incorporated into and
made a part of the Plan.

         Once the Committee has established the Performance Objectives which
must be achieved in order for the Annual Bonus (or designated portion thereof)
to be earned and the objective bonus formula for computing the Annual Bonus (or
designated portion hereof), with respect to a Contract Year, the Committee shall
not have the authority to modify such Performance Objectives or objective bonus
formula for computing the Annual Bonus with respect to such Contract year.

VI.      SPECIAL AWARDS AND OTHER PLANS

         Nothing contained in the Plan shall prohibit the Company from granting
awards or authorizing other compensation to the Executive under any other plan
or authority or limit the authority of the Company to establish other special
awards or incentive compensation plans providing for the payment of incentive
compensation to Executive.

VII. CHANGE IN EMPLOYMENT STATUS

         If Executive's employment with the Company is terminated for any reason
other than death or disability prior to the end of a Contract Year, Executive's
rights to an Annual Bonus under the Plan with respect to such Contract Year and
subsequent Contract Years shall terminate. The Committee shall determine whether
all or a portion of Executive's Annual Bonus under the Plan for the Contract
Year in which his death or disability occurs shall be paid if Executive's
employment has been terminated by reason of death or disability.

                                       2
<PAGE>

VII.     METHOD OF PAYMENT

         Annual Bonuses shall be paid to Executive in cash within 60 days
following the end of the Contract Year with respect to which such Annual Bonus
is earned.

IX.      ADMINISTRATION, AMENDMENT AND INTERPRETATION

         The Plan is administered by the Committee. The Committee shall have
full power to construe and interpret the Plan, establish and amend rules and
regulations for its administration, and perform all other acts relating to the
Plan, including the delegation of administrative responsibilities, that it
believes reasonable and proper and in conformity with the purposes of the Plan.

         Any decision made, or action taken, by the Committee arising out of or
in connection with the interpretation and/or administration of the Plan shall be
final, conclusive and binding on all persons affected thereby.

         The Board shall have the right to amend the Plan from time to time or
to terminate the Plan or to direct the discontinuance of Annual Bonuses either
temporarily or permanently; provided, however, that no such action shall
adversely affect the Annual Bonus potentially payable to the Executive with
respect to the Contract Year in which such action is taken and with respect to
which the Performance Objectives have already been established.

X.       ADVANCES

         A portion of the Annual Bonus with respect to a Contract Year will be
advanced to Executive quarterly during such Contract Year within thirty (30)
days of receipt by the Company of payment from Target Corporation pursuant to
the Mossimo License Agreement with Target Stores, a division of Target
Corporation, a Minnesota corporation ("Target"), dated as of March 28, 2000, as
amended by the Amendment to License and Design Services Agreement entered into
as of April 17, 2002 (the "License and Design Services Agreement"). Each
quarterly advance shall be based upon royalties paid for the quarter pursuant to
Section 5.1 of the License and Design Services Agreement ("Royalties");
provided, however, that if an Annual Bonus advance is paid for one or more
quarters during any Contract Year, but nine and sixty-six hundredth percent
(9.66%) of the annual royalties in excess of the Annual Guaranteed Minimum (as
defined in the License and Design Services Agreement) paid to the Company for
that Contract Year is less than the amount paid to Executive during such
quarter(s), the difference shall be deducted from future quarterly bonus
payments; however, such deductions shall be made after the calculation of the
Annual Bonus for such future periods. In the event that Executive's employment
is terminated prior to the Company's recoupment of the difference, the remaining
portion of the difference shall be deducted from any amounts payable to the
Executive at the time of termination; and, Executive shall repay any amounts not
covered by such deductions at the time of termination.

XI.      MISCELLANEOUS

         The Company shall deduct all federal, state and local taxes required by
law or Company policy from any Annual Bonus paid to Executive hereunder.

                                       3
<PAGE>

         In no event shall the Company be obligated to pay to Executive an
Annual Bonus for any Contract Year by reason of the Company's payment of an
Annual Bonus to Executive in any other Contract Year.

         The Plan shall be unfunded. Amounts payable under the Plan are not and
will not be transferred into a trust or otherwise set aside. The Company shall
not be required to establish any special or separate fund or to make any other
segregation of assets to assure the payment of any Annual Bonus under the Plan.

         Any provision of the Plan that is prohibited or unenforceable shall be
ineffective to the extent of such prohibition or unenforceability without
invalidating the remaining provisions of the Plan.

         The Plan and the rights and obligations of the parties to the Plan
shall be governed by, and construed and interpreted in accordance with, the law
of the State of California (without regard to principles of conflicts of law).

         I hereby certify that the foregoing Plan was duly adopted by the Board
of Directors of Mossimo, Inc. on April 17, 2002.

Executed on this 17 day of April, 2002.

/S/ Gia Castrogiovanni
----------------------
    Secretary

                                       4

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00041-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00041-of-00352.parquet"}]]