Document:

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                                                                    Exhibit 10.3

                             THE TJX COMPANIES, INC.
                    PERFORMANCE-BASED RESTRICTED STOCK AWARD
                       GRANTED UNDER STOCK INCENTIVE PLAN

                                   SERIES [  ]

This certificate evidences an award of performance-based restricted shares
("Restricted Stock") of Common Stock, $1.00 par value, of The TJX Companies,
Inc. (the "Company") granted to the grantee named below ("Grantee") under the
Company's Stock Incentive Plan (the "Plan"). This grant is subject to the terms
and conditions of the Plan, the provisions of which, as from time to time
amended, are incorporated by reference in this certificate. Terms defined in the
Plan are used in this certificate as so defined.

   1.  GRANTEE:

   2.  NUMBER OF SHARES OF RESTRICTED STOCK:

   3.  DATE OF GRANT:

   4.  PERFORMANCE VESTING CRITERIA:

                                          -  In the event that any shares with
                                             respect to a period do not vest as
                                             provided above, such shares shall
                                             immediately and automatically be
                                             forfeited.

   5.  CHANGE OF CONTROL. Upon the occurrence of a Change of Control, all shares
       of Restricted Stock shall immediately and automatically vest.

   6.  TERMINATION OF EMPLOYMENT: In the event of the termination of employment
       of the Grantee with the Company or any of its subsidiaries for any
       reason, all shares of Restricted Stock not then vested shall immediately
       and automatically be forfeited, except as follows:

<TABLE>
<CAPTION>
       Event                              Vesting
       -----                              -------
<S>                                       <C>
</TABLE>

   7.  DIVIDENDS: Grantee shall be entitled to receive regular cash dividends,
       if any, paid on, and to vote, shares of Restricted Stock held by Grantee
       on the record date. Any dividend or distribution (other than any regular
       cash dividend) distributed with respect to a share of Restricted Stock,
       and any share of stock or other security of the Company or any other
       entity, or other property, into which a share of Restricted Stock is
       converted or for which it is exchanged, (each share of Restricted Stock
       with respect to which any such dividend or distribution is made or which
       is so converted or exchanged, an "associated share"), including without
       limitation a distribution of stock by reason of a stock dividend, stock
       split or otherwise with respect to an associated share, or a distribution
       of other
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       securities with respect to an associated share, shall be subject to the
       restrictions provided in this certificate in the same manner and for so
       long as the associated share remains or would have remained subject to
       such restrictions, and shall be forfeited if and when the associated
       share is so forfeited or would have been so forfeited. The Committee may
       require that any cash distribution with respect to an associated share
       other than a regular cash dividend, or any cash amount into which an
       associated share is converted or for which it is exchanged, be placed in
       escrow or otherwise made subject to such restrictions as the Committee
       deems appropriate. References to the shares of Restricted Stock in this
       certificate shall include any such restricted shares, securities,
       property or other amounts.

   8.  NO TRANSFERS; RESTRICTIVE LEGEND: Grantee shall not sell, assign, pledge,
       margin, give, transfer, hypothecate or otherwise dispose of any shares of
       Restricted Stock or any interest therein. Certificates representing
       shares of Restricted Stock will bear a restrictive legend to such effect,
       and stop orders will be entered with the Company's transfer agent.

   9.  TRANSFER UPON FORFEITURE: By acceptance of this grant, Grantee appoints
       the Company as attorney-in-fact of Grantee to take such actions as the
       Company determines necessary or appropriate to effectuate a transfer to
       the Company of the record ownership of any shares that are forfeited and
       agrees to sign such stock powers and take such other actions as the
       Company may reasonably request to accomplish the transfer or forfeiture
       of any forfeited shares.

   10. WITHHOLDING: Grantee shall, no later than the date as of which any shares
       of Restricted Stock first become includable in the gross income of
       Grantee for Federal income tax purposes, pay to the Company, or make
       arrangements satisfactory to the Committee regarding payment of, any
       Federal, state, or local taxes of any kind required by law to be withheld
       with respect to such income.

   11. SECTION 83(B): Grantee should confer promptly with a professional tax
       advisor to consider whether or not to make a so-called "83(b) election"
       with respect to the Restricted Stock. Any such election, to be effective,
       must be made in accordance with applicable regulations and no later than
       (30) days following the date of grant. The Company makes no
       recommendation with respect to the advisability of making such an
       election.

                                          THE TJX COMPANIES, INC.

                                          BY:
                                             ---------------------------------<PAGE>
                                                                   Exhibit 10.30

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                                The Talbots, Inc.
                      Directors Deferred Compensation Plan

                           Restated as of May 27, 2004

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                                The Talbots, Inc.
                      Directors Deferred Compensation Plan

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<TABLE>
<CAPTION>
                                                                            Page
                                                                            ----
<S>                                                                         <C>
1.   Purposes...........................................................     1

2.   Definitions........................................................     1

3.   Administration.....................................................     3

4.   Participation......................................................     3

5.   Deferrals..........................................................     3

6.   Deferral Accounts, Restricted Stock Unit Deferral Accounts
     and Equity Award Accounts..........................................     5

7.   Settlement of Deferral Accounts, Restricted Stock Unit Deferral
     Accounts and Equity Award Accounts.................................     6

8.   Statements.........................................................     7

9.   Amendment/Termination..............................................     7

10.  General Provisions.................................................     8

11.  Claim and Appeal Procedure.........................................     9

12.  Effective Date.....................................................     10
</TABLE>

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                               The Talbots, Inc.
                      Directors Deferred Compensation Plan

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      1. PURPOSES. The purpose of this restated The Talbots, Inc. Directors
Deferred Compensation Plan (the "Plan") is to provide the members of the Board
of Directors (the "Board") of The Talbots, Inc. (the "Company") with the
opportunity to elect to defer receipt of some or all retainer fees, and to have
such deferred amounts treated as if invested in specified investment options, as
well as to provide a vehicle under which the Company can credit restricted stock
units or other equity awards to the accounts of members of the Board, and also
to permit such members of the Board to voluntarily defer receipt of restricted
stock units or other equity awards (as permitted by the Administrator from time
to time).

      2. DEFINITIONS. In addition to the terms defined in Section 1 above, the
following terms used in the Plan shall have the meanings set forth below:

            (a) "Administrator" shall mean the committee set forth in Section
3(b), to whom the Board has delegated the authority to take action under, and to
administer, the Plan.

            (b) "Beneficiary" shall mean the beneficiary designated by the
Participant on a form supplied by the Administrator to receive benefits payable
in the event of the death of the Participant. In the event of the Participant's
death without an effective Beneficiary designation, any Plan benefits payable
shall be paid to the Participant's surviving spouse or, if the Participant has
no surviving spouse, to the Participant's surviving children in equal amounts
or, if the Participant has no surviving children, to the Participant's estate.

            (c) "Code" shall mean the Internal Revenue Code of 1986, as amended.
References to any provision of the Code or regulation (including a proposed
regulation) thereunder shall include any successor provisions or regulations.

            (d) "Deferral Account" shall mean the account or subaccount
established and maintained by the Administrator for specified cash deferrals and
cash contributions attributable to a Participant, as described in Section 5.
Deferral Accounts will be maintained solely as bookkeeping entries by the
Company to evidence unfunded obligations of the Company.

            (e) "Exchange Act" shall mean the Securities Exchange Act of 1934,
as amended. References to any provision of the Exchange Act or rule thereunder
shall include any successor provisions or rules.

            (f) "Equity Award Account" shall mean the account or subaccount that
may be established by the Administrator to reflect the crediting of equity
awards other than Restricted Stock Units. Equity Award Accounts will be
maintained solely as bookkeeping entries by the Company to evidence unfunded
obligations of the Company. The Administrator is authorized to establish such
rules and conditions applicable to Equity Award Accounts as are deemed

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appropriate to give effect to the awards or deferrals credited thereunder,
provided that they are consistent in all respects with the Stock Plan under
which such awards were granted.

            (g) "Participant" shall mean any member of the Board who is not an
employee of the Company who participates or makes an election to participate in
the Plan.

            (h) "Plan Year" shall mean the calendar year.

            (i) "Restricted Stock Units" shall mean restricted stock units
awarded to a Participant under the Stock Plan. The terms and conditions of such
awards (including the vesting provisions related thereto) will in all instances
be applied to the Restricted Stock Units credited hereunder.

            (j) "Restricted Stock Unit Deferral Account" shall mean an account
or subaccount established and maintained by the Company for (i) specified
voluntary deferrals of Restricted Stock Units by Participants, and (ii)
Restricted Stock Units that are deferred on a mandatory basis by the Company for
a Participant. Restricted Stock Unit Deferral Accounts will be maintained solely
as bookkeeping entries by the Company to evidence unfunded obligations of the
Company.

            (k) "Stock Plan" shall mean The Talbots, Inc. Restated Directors
Stock Plan, as it may be modified from time to time, or any successor thereto.

            (l) "Trust" shall mean any trust or trusts established by the
Company as part of the Plan; provided, however, that the assets of any such
trusts shall remain subject to the claims of the general creditors of the
Company.

            (m) "Trustee" shall mean the trustee of a Trust.

            (n) "Trust Agreement" shall mean an agreement that may be entered
into from time to time between the Company and the Trustee to carry out the
purposes of the Plan, as amended or restated from time to time.

            (o) "Valuation Date" shall mean the close of business on the last
business day of each calendar month, unless otherwise determined from time to
time by the Administrator.

                                      -2-
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      3.    ADMINISTRATION.

            (a) Authority. The Administrator shall administer the Plan in
accordance with its terms, and shall have all powers necessary or appropriate to
accomplish such purpose, including the power and authority to construe and
interpret the Plan, to define the terms used herein, to prescribe, amend and
rescind rules and regulations, agreements, forms, and notices relating to the
administration of the Plan, and to make all other determinations necessary or
advisable for the administration of the Plan. Any actions of the Administrator
with respect to the Plan shall be conclusive and binding upon all persons
interested in the Plan. The Administrator may appoint agents and delegate
thereto powers and duties under the Plan, except as otherwise limited by the
Plan.

            (b) Administrator. The Administrator shall be a committee consisting
of such number of individuals as shall be determined by the Board, each of whom
shall be appointed by, shall remain in office at the will of, and may be
removed, with or without cause, by the Board. Any member of the Administrator
may resign at any time. No member of the Administrator shall be entitled to act
on or decide any matter relating solely to himself or herself or any of his or
her rights or benefits under the Plan. The members of the Administrator shall
not receive any special compensation for serving in their capacities as members
of the Administrator, but shall be reimbursed for any reasonable expenses
incurred in connection therewith. No bond or other security need be required of
the Administrator or any member thereof in any jurisdiction.

            (c) Limitation of Liability. Each member of Administrator shall be
entitled to, in good faith, rely or act upon any report or other information
furnished to him or her by any officer or other employee of the Company or any
subsidiary or affiliated entity, the Company's outside accountants, or any
executive compensation consultant, legal counsel, or other professional retained
by the Company, the Board or the Administrator to assist in the administration
of the Plan. To the maximum extent permitted by law, no member of the
Administrator, nor any person to whom duties have been delegated hereunder,
shall be liable to any person for any action taken or omitted in connection with
the interpretation and administration of the Plan.

      4. PARTICIPATION. Each member of the Board of Directors of the Company who
is not an employee of the Company shall be eligible to participate in the Plan.

      5. DEFERRALS. To the extent authorized by the Administrator, a Participant
may elect to defer some or all cash fees and/or Restricted Stock Units or other
equity awards granted under the Stock Plan (to the extent deemed permissible by
the Administrator) to be paid or awarded to him or her by the Company, or such
other compensation, fees or awards as may be designated by the Administrator.
The Administrator may impose (1) limitations on the amounts permitted to be
deferred, (2) limitations on the timing and form of deferrals, (3) limitations
on amounts of deferrals for particular Participants, and (4) terms and
conditions regarding deferrals under the Plan.

            (a) Elections. Once an election form, properly completed, is
received by the Company, the elections of the Participant shall be irrevocable.
Deferral election forms filed by a Participant will apply for the given Plan
Year as well as all future Plan Years until such

                                      -3-
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Participant revokes in writing his or her election on a prospective basis, or
until he or she files a new deferral election form. Deferrals elections with
respect to cash fees must be in 5% increments, from 5% to 100%, and voluntary
deferrals of Restricted Stock Units (and other equity awards) must be made in
whole numbers of such Restricted Stock Units (or other equity awards).

            Deferral election forms shall specifically state the period of
deferral; deferrals must be for either a period of years or until termination of
such Participant's status as a member of the Board, as determined by the
Administrator. Deferrals for a period of years must be for at least two full
calendar years, and will be scheduled for payment in January of the applicable
Plan Year. Notwithstanding the preceding sentence, the Administrator may permit
some deferrals for a period of years to be for a minimum period of two elapsed
years (i.e., not two full calendar years). If a Participant ceases to be a
member of the Board prior to a scheduled withdrawal, then the Deferral Account
will be distributed (pursuant to Section 7) following such cessation, unless
otherwise provided herein or unless otherwise provided by law. Scheduled
in-service distributions may be redeferred one time only by the Participant,
with such redeferral election being for a period of at least five full years
following the previously scheduled distribution date. A redeferral election must
be made prior to the date established therefor by the Administrator, which date
must be at least twelve months prior to the previously scheduled distribution
date.

            Notwithstanding anything else herein to the contrary, any Restricted
Stock Unit deferrals hereunder will not be distributable until the Participant
ceases to be a member of the Board, at which time the Restricted Stock Unit
Deferral Account will be distributed in whole and in the form of Company common
stock (except to the extent of any fractional Restricted Stock Units, which will
be distributed in cash), unless, in the discretion of the Administrator,
distribution must be delayed in order to avoid adverse tax consequences to the
Company or the Participant.

            (b) Date of Election. An election to defer cash fees and/or
Restricted Stock Units or other equity awards hereunder must be received by the
Administrator prior to the date specified by the Administrator. Under no
circumstances may a Participant defer receipt of retainer fees or Restricted
Stock Units or other equity awards to which the Participant has attained, at the
time of deferral, a legally enforceable right to such amounts, as determined in
the sole discretion of the Administrator.

            (c) Company Contributions and Credits. In addition to the voluntary
deferrals elected by Participants, the Company may choose at any time to make
discretionary Company cash credits to the Deferral Accounts of Participants in
such amounts as it, in its sole discretion, wishes. Discretionary Company cash
credits may be subject to a vesting schedule, established by the Company or the
Administrator at the time of the contribution. Furthermore, the Company may
credit Restricted Stock Units to the Restricted Stock Unit Deferral Accounts (or
other equity awards to the Equity Award Accounts) of Participants in such
amounts as it, in its sole discretion, wishes. Such Restricted Stock Units and
other equity awards may be subject to a vesting schedule, as established by the
Company or the Administrator at the time of the crediting.

                                      -4-
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      6.    DEFERRAL ACCOUNTS, RESTRICTED STOCK UNIT DEFERRAL ACCOUNTS AND
            EQUITY AWARD ACCOUNTS.

            (a) Establishment; Crediting of Amounts Deferred. One or more
Deferral Accounts will be established for each Participant, as determined by the
Administrator. The amount of cash fees deferred with respect to each Deferral
Account will be credited to such Deferral Account as of the date on which such
amounts would have been paid to the Participant but for the Participant's
election to defer receipt hereunder. The amounts of hypothetical income and
appreciation and depreciation in value of such account will be credited and
debited to, or otherwise reflected in, such Deferral Account from time to time.
Unless otherwise determined by the Administrator, amounts credited to a Deferral
Account shall be deemed invested in a hypothetical investment as of the date of
deferral.

            (b) Hypothetical Investment Options. Amounts credited to a Deferral
Account shall be deemed to be invested, at the Participant's direction, in one
or more investment options as may be specified from time to time by the
Administrator. The Administrator may change or discontinue any hypothetical
investment option available under the Plan in its discretion; provided, however,
that, subject to the authority of the Administrator to disregard the directions
of any Participant, each affected Participant will be given the opportunity,
without limiting or otherwise impairing any other right of such Participant
regarding changes in investment directions, to redirect the allocation of his or
her Deferral Account deemed invested in the discontinued investment option among
the other hypothetical investment options, including any replacement option.

            (c) Allocation and Reallocation of Hypothetical Investments. A
Participant may allocate amounts credited to his or her Deferral Account to one
or more of the hypothetical investment options authorized under the Plan.
Subject to the rules established by the Administrator, a Participant may
reallocate amounts credited to his or her Deferral Account as of the Valuation
Date following the Participant's election to one or more of such hypothetical
investments, by filing with the Administrator a notice, in such form as may be
specified by the Administrator, not later than the date specified by the
Administrator. The Administrator may, in its discretion, restrict allocation
into or reallocation by specified Participants into or out of specified
investment options or specify minimum amounts that may be allocated or
reallocated by Participants.

            (d) Restricted Stock Unit Deferral Accounts. One or more Restricted
Stock Unit Deferral Accounts will be established for each Participant, as
determined by the Administrator. The number of Restricted Stock Units credited
under the Plan will be appropriately adjusted from time to time to reflect any
stock splits and stock combinations (and similar events) with respect to Company
common stock. Restricted Stock Units will be credited under a Participant's
Restricted Stock Unit Deferral Account as of the date on which the Restricted
Stock Unit was awarded under Stock Plan. Restricted Stock Units credited to a
Participant's Restricted Stock Unit Deferral Account may not be reallocated to
other investment alternatives generally available under the Plan with respect to
cash-based Deferral Accounts. In the event that the Company credits cash
dividend equivalents with respect to Restricted Stock Units credited to a
Participant's Restricted Stock Unit Deferral Account, such cash dividend
equivalents will be credited to the Participant's Deferral Account.

                                      -5-
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            (e) Equity Award Accounts. One or more Equity Award Accounts will be
established for each Participant, as determined by the Administrator. The
Administrator may appropriately adjust the number and type of equity awards
credited under the Plan from time to time to reflect any stock dividends paid on
or with respect to relevant Company equity, as well as stock splits and stock
combinations (and similar events) with respect to relevant Company equity.
Equity awards will be credited under a Participant's Equity Award Account as of
the date on which the equity award was made under Stock Plan or otherwise.
Equity awards credited to a Participant's Equity Award Account may not be
reallocated to other investment alternatives generally available under the Plan
with respect to cash-based Deferral Accounts. In the event that the Company
credits cash dividend equivalents with respect to equity awards credited to a
Participant's Equity Award Account, such cash dividend equivalents will be
credited to the Participant's Deferral Account.

            (f) Trusts. The Company may, in its discretion, establish one or
more Trusts (including subaccounts under such Trusts), and deposit therein
amounts of cash or other property not exceeding the amount of the Company's
obligations with respect to a Participant's Deferral Account established under
this Section 6. In such case, the amounts of income, appreciation and
depreciation in value of such Deferral Account shall be determined by the
Administrator, based upon the hypothetical investment elections made by
Participants. Other provisions of the Plan notwithstanding, the timing of
allocations and reallocations of assets in such a Deferral Account, and the
investment options available with respect to such Deferral Account, may be
varied to reflect the timing of actual investments of the assets of such Trust
and the actual investments available to such Trust, all as determined in the
sole discretion of the Administrator. The Trust's investment vehicles may
include life insurance (including, but not limited to, variable life insurance),
and such other assets as may be selected from time to time.

      7.    SETTLEMENT OF DEFERRAL ACCOUNTS, RESTRICTED STOCK UNIT DEFERRAL
            ACCOUNTS AND EQUITY AWARD ACCOUNTS.

            (a) Form of Payment. The Company shall settle a Participant's
Deferral Account, and discharge all of its obligations to pay deferred
compensation under the Plan with respect to such Deferral Account, by payment of
cash. Any forfeited amounts will be used to offset future contributions and
distributions, and as directed by the Board. All distributions will be made in
the form of a lump sum, unless otherwise provided.

            The Company shall settle a Participant's Restricted Stock Unit
Deferral Account, and discharge all of its obligations to pay deferred
compensation under the Plan with respect thereto, by delivery of shares of
Company common stock equal to the number of vested, whole Restricted Stock Units
credited, and shall pay cash with respect to any fractional number of vested
Restricted Stock Units. All such distributions will be made in the form of a
lump sum. As additional compensation to such Participants, the Company shall pay
the par value of any such shares of Company common stock to be so delivered.

            The Company shall settle a Participant's Equity Award Account, and
discharge all of its obligations to pay deferred compensation under the Plan
with respect thereto, by delivery of such Company equity (or in such other form
as determined by the Administrator) as was set forth in the original award with
respect thereto.

                                      -6-
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            (b) Timing of Payments. Payments in settlement of a Deferral Account
shall be made as soon as practicable after the date or dates (including upon the
occurrence of specified events) elected by the Participant in his or her
election relating to such Deferral Account. Distributions made as a result of
termination of Board member status, for any reason (including death) shall be
made as soon as practicable thereafter.

            Payments in settlement of a Restricted Stock Unit Deferral Account
shall be made as soon as practicable following termination of the Participant's
Board member status (unless the Administrator, in its sole discretion, decides
that the payment must be delayed in order to avoid adverse tax consequences to
the Participant, or unless it decides that the payment must be delayed in order
to avoid violating any laws or regulations relating to securities or otherwise).

            Payments in settlement of a Equity Award Account shall be made at
such time as is determined pursuant to the documentation giving rise to the
establishment of such account (unless the Administrator, in its sole discretion,
decides that the payment must be delayed in order to avoid adverse tax
consequences to the Participant, or unless it decides that the payment must be
delayed in order to avoid violating any laws or regulations relating to
securities or otherwise).

            (c) Hardship Distributions. Other provisions of the Plan
notwithstanding, if, upon the written application of a Participant, the
Administrator determines that the Participant has suffered a hardship within the
meaning of the Treasury Regulations issued under Section 401(k) of the Code,
then the Administrator may authorize a hardship distribution hereunder. A
distribution hereunder will be made on account of hardship only if the
distribution is both made on account of an immediate and heavy financial need of
the Participant, and the distribution amount is necessary to satisfy the
financial need, all as determined by the Administrator using such Treasury
Regulations as a guide, and the value of the distribution amount is at least
$5,000. Withdrawals made pursuant to this Section 7(c) will be made as soon as
administratively practicable following approval of the Administrator. A
Participant will be prohibited from making additional deferrals of cash fees for
six months following such a distribution. No hardship distribution may be made
unless it also satisfies the requirements of Section 409A of the Code.

      8. STATEMENTS. The Administrator will furnish statements to each
Participant reflecting the amount credited to a Participant's Deferral Account,
Restricted Stock Unit Deferral Account and Equity Award Account, and
transactions therein not less frequently than once each calendar quarter.

      9. AMENDMENT/TERMINATION. The Board may, with prospective or retroactive
effect, amend, alter, suspend, discontinue, or terminate the Plan at any time
without the consent of Participants, shareholders, or any other person;
provided, however, that, without the consent of a Participant, no such action
shall adversely affect the right of such Participant to payment of his or her
Deferral Account, Restricted Stock Unit Deferral Account, or Equity Award
Account, as of the date of such action, unless such action is required in order
to comply with law or to prevent adverse tax consequences to the Participant or
the Company.

                                      -7-
<PAGE>

      10.   GENERAL PROVISIONS.

            (a) Limits on Transfer of Awards. Other than by will or the laws of
descent and distribution, no right, title or interest of any kind in the Plan
shall be transferable or assignable by a Participant or his or her Beneficiary
or be subject to alienation, anticipation, encumbrance, garnishment, attachment,
levy, execution or other legal or equitable process, nor subject to the debts,
contracts, liabilities or engagements, or torts of any Participant or his or her
Beneficiary. Any attempt to alienate, sell, transfer, assign, pledge, garnish,
attach or take any other action subject to legal or equitable process or
encumber or dispose of any interest in the Plan shall be void.

            (b) Receipt and Release. Payments or other distributions (in any
form) to any Participant or Beneficiary in accordance with the provisions of the
Plan shall, to the extent thereof, be in full satisfaction of all claims for the
amounts deferred and relating to the Deferral Account, the Restricted Stock Unit
Deferral Account, or the Equity Award Account to which the payments or other
distributions relate, against the Company or any subsidiary or affiliated entity
thereof or the Administrator, and the Administrator may require such Participant
or Beneficiary, as a condition to such payments, to execute a receipt and
release to such effect.

            (c) Unfunded Status of Awards: Creation of Trusts. The Plan is
intended to constitute an "unfunded" plan for deferred compensation and
Participants shall rely solely on the unsecured promise of the Company or
applicable affiliated entity for payment hereunder. With respect to any payment
not yet made to a Participant under the Plan, nothing contained in the Plan
shall give a Participant any rights that are greater than those of a general
unsecured creditor of the Company or the applicable affiliated entity; provided,
however, that the Board may authorize the creation of Trusts, including but not
limited to the Trusts referred to in Section 6 hereof, or make other
arrangements to meet the Company's obligations under the Plan, which Trusts or
other arrangements shall be consistent with the "unfunded" status of the Plan
unless the Board otherwise determines with the consent of each affected
Participant.

            (d) Compliance. A Participant in the Plan shall have no right to
receive payment or other distribution (in any form) with respect to his or her
Deferral Account, Restricted Stock Unit Deferral Account, or Equity Award
Account until legal and contractual obligations of the Company relating to
establishment of the Plan and the making of such payments shall have been
complied with in full. In addition, the Company shall impose such restrictions
on any interest constituting a security as it may deem advisable in order to
comply with the Securities Act of 1933, as amended, the requirements of any
applicable stock exchange or automated quotation system, any state securities
laws applicable to such a transfer, any provision of the Company's Certificate
of Incorporation or Bylaws, or any other law, regulation, or binding contract to
which the Company is a party.

            (e) Other Participant Rights. No provision of the Plan or any
transaction hereunder shall confer upon any Participant any right to continue to
be a member of the Board, or to interfere in any way with the right of the
Company or a subsidiary to increase or decrease the amount of any fees payable
to such Participant. Subject to the limitations set forth in Section 10(a)
hereof, the Plan shall inure to the benefit of, and be binding upon, the parties
hereto and their successors and assigns.

                                      -8-
<PAGE>

            (f) Legal Fees and Expenses. The Company shall pay all reasonable
legal fees and expenses which a Participant may incur in respect of obtaining
from the Company any benefit to which he is entitled under the Plan. The Company
will also pay all issuance costs related to payments associated with a
Participant's Restricted Stock Unit Deferral Account, including payment of the
par value of shares of Company common stock, as specified above.

            (g) Tax Withholding. The Company and any subsidiary or affiliated
entity shall have the right to deduct from amounts and shares otherwise payable
or to be distributed in settlement of a Deferral Account, Restricted Stock Unit
Deferral Account, and Equity Award Account, any sums that federal, state, local
or foreign tax law requires to be withheld with respect to such payment. To the
extent permissible by applicable law, and to the extent permitted by the
Administrator, shares of Company common stock that would otherwise be delivered
to the Participant may be withheld by the Company and used to satisfy such
withholding requirements.

            (h) Governing Law. The validity, construction, and effect of the
Plan and any rules and regulations relating to the Plan shall be determined in
accordance with the laws of the Commonwealth of Massachusetts, without giving
effect to principles of conflicts of laws, and applicable provisions of federal
law.

            (i) Limitation. A Participant and his or her Beneficiary shall
assume all risk in connection with any decrease in value of the Deferral
Account, Restricted Stock Unit Deferral Account or the Equity Award Account, and
neither the Company nor any subsidiary or affiliated entity nor the
Administrator shall be liable or responsible therefor.

            (j) Construction. The captions and numbers preceding the sections of
the Plan are included solely as a matter of convenience of reference and are not
to be taken as limiting or extending the meaning of any of the terms and
provisions of the Plan. Whenever appropriate, words used in the singular shall
include the plural or the plural may be read as the singular, and male
references shall include female and neuter, and vice versa.

            (k) Severability. In the event that any provision of the Plan shall
be declared illegal or invalid for any reason, said illegality or invalidity
shall not affect the remaining provisions of the Plan but shall be fully
severable, and the Plan shall be construed and enforced as if said illegal or
invalid provision had never been inserted herein.

            (l) Status. The establishment and maintenance of, or allocations and
credits to, the Deferral Account, Restricted Stock Unit Deferral Account and
Equity Award Account of any Participant shall not vest in any Participant any
right, title or interest in and to any specific assets or benefits except at the
time or times and upon the terms and conditions and to the extent expressly set
forth in the Plan and in accordance with the terms of the Trust.

      11. CLAIM AND APPEAL PROCEDURE. The Administrator shall provide adequate
notice in writing to any Participant or to any Beneficiary ("Claimant") whose
claim for benefits under the Plan has been denied. The Administrator's notice to
the Claimant shall set forth:

            (a) The specific reason for the denial;

                                      -9-
<PAGE>

            (b) Specific references to pertinent Plan provisions upon which the
            Administrator based its denial;

            (c) A description of any additional material and information that is
            needed; and

            (d) That any appeal the Claimant wishes to make of the adverse
            determination must be in writing to the Administrator within
            seventy-five (75) days after receipt of the Administrator's notice
            of denial of benefits. The Administrator's notice must further
            advise the Claimant that his failure to appeal the action to the
            Administrator in writing within the seventy-five (75) day period
            will render the Administrator's determination final, binding and
            conclusive.

            If the Claimant should appeal to the Administrator, he, or his duly
authorized representative, may submit, in writing, whatever issues and comments
he or his duly authorized representative feels are pertinent. The Claimant, or
his duly authorized representative, may review pertinent Plan documents. The
Administrator shall re-examine all facts to the appeal and make a final
determination as to whether the denial of benefits is justified under the
circumstances. The Administrator shall advise the Claimant of its decision
within sixty (60) days of the Claimant's written request for review, unless
special circumstances (such as a hearing) would make the rendering of a decision
within the sixty (60) day limit unfeasible, but in no event shall the
Administrator render a decision respecting a denial for a claim of benefits
later than one hundred twenty (120) days after its receipt of a request for
review.

            The Administrator's notice of denial of benefits shall identify the
name and address to whom the Claimant may forward his appeal.

      12.   EFFECTIVE DATE. The restated Plan shall be effective as of May 27,
            2004.

                                      -10-

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