Document:

REGENCY CENTERS 401(K)
PROFIT SHARING PLAN 

ADOPTION AGREEMENT 
NONSTANDARDIZED
401(k) PROFIT SHARING PLAN 

        The
undersigned, Regency Centers Corporation (“Employer”), by executing this
Adoption Agreement, elects to establish a retirement plan and trust (“Plan”)
under the Wells Fargo Bank, N.A. Defined Contribution Master Plan and Trust
Agreement (basic plan document
#      01      ). The
Employer, subject to the Employer’s Adoption Agreement elections, adopts fully the
Prototype Plan and Trust provisions. This Adoption Agreement, the basic plan document and
any attached appendices or addenda, constitute the Employer’s entire plan and trust
document. All section references within this Adoption Agreement are Adoption Agreement
section references unless the Adoption Agreement or the context indicate otherwise. All
article references are basic plan document and Adoption Agreement references as
applicable. Numbers in parenthesis which follow headings are references to basic plan
document sections. The Employer makes the following elections granted under the
corresponding provisions of the basic plan document. 

ARTICLE I 
DEFINITIONS 

1.      PLAN (1.21).
The name of the Plan as adopted by the Employer is    Regency Centers
401(k) Profit Sharing Plan   .  

2.      TRUSTEE  (1.33).
The Trustee executing this Adoption Agreement is: (Choose one           of (a), (b) or
(c)) 

	[   ]  	
(a)      A discretionary Trustee.   See Plan Section 10.03[A]. 

	[X] 	(b)
     A nondiscretionary Trustee.   See Plan Section
10.03[B]. 

	[   ]  	
(c)      A Trustee under a separate trust agreement.   See Plan Section 10.03[G]. 

     3.     
          EMPLOYEE  (1.11).   The following Employees are not eligible to
          participate in the Plan: (Choose (a) or one or more of (b) through (g) as
          applicable) 

	[   ] 	
(a)      No exclusions. 

	[X] 	(b)     
Collective bargaining Employees.

	[X] 	(c)     
Nonresident aliens.

	[   ]  	
(d)      Leased Employees. 

	[X] 	(e)
     Reclassified Employees.

	[   ]  	
(f)      Classifications: .    ________ 

	[   ]  	
(g)      Exclusions by types of contributions.   The following classification(s) of
Employees are not eligible for the specified contributions: 

Employee
classification: ________ 
Contribution
type: ________  

     4.     
          COMPENSATION (1.07).   The Employer makes the following election(s)
          regarding the definition of Compensation for purposes of the contribution
          allocation formula under Article III: (Choose one of (a), (b) or (c)) 

	[   ] 	
(a)      W-2 wages increased by Elective Contributions. 

	[   ] 	
(b)      Code ss.3401(a) federal income tax withholding wages increased by Elective
Contributions. 

© Copyright 2001
Wells Fargo Bank, N.A. 

1 

	[X] 	(c)     
415 compensation.

[Note: Each of the Compensation
definitions in (a), (b) and (c) includes Elective Contributions. See Plan Section 1.07(D).
To exclude Elective Contributions, the Employer must elect (g).] 

Compensation taken into
account. For the Plan Year in which an Employee first becomes a Participant, the Plan
Administrator will determine the allocation of Employer contributions (excluding deferral
contributions) by taking into account:   (Choose one of (d) or (e)) 

	[   ] 	
(d)      Plan Year.   The Employee's Compensation for the entire Plan Year. 

	[X] 	                    (e)
     Compensation while a Participant.   The Employee’s Compensation
                    only for the portion of the Plan Year in which the Employee actually
is a                     Participant. 

Modifications to Compensation
definition.   The Employer elects to modify the Compensation definition elected in (a),
(b) or (c) as follows. (Choose one or more of (f) through (n) as applicable. If the
Employer elects to allocate its nonelective contribution under Plan Section 3.04 using
permitted disparity, (i), (j), (k) and (l) do not apply): 

	[   ]  	
 (f)      Fringe benefits.   The Plan excludes all reimbursements or other expense
allowances, fringe benefits (cash and noncash), moving expenses, deferred compensation
and welfare benefits. 

	[   ] 	
(g)      Elective Contributions.     The Plan excludes a Participant's Elective Contributions.
See Plan          Section
1.07(D). 

	[   ] 	
(h)      Exclusion.   The Plan excludes Compensation in excess of: . 

	[   ] 	
(i)      Bonuses.   The Plan excludes bonuses. 

	[   ] 	
(j)      Overtime.   The Plan excludes overtime. 

	[   ] 	
(k)      Commissions.   The Plan excludes commissions. 

	[X] 	                    (l)
     Nonelective contributions.   The following modifications apply to the
                    definition of Compensation for nonelective contributions:        the
Employer may establish from year to                     year a maximum amount of
compensation to be used in the allocation of                     Nonelective  Contributions      . 

	[   ]  	
 (m)      Deferral contributions.   The following modifications apply to the
definition of Compensation for deferral contributions: ________. 

	[   ]  	
(n)      Matching contributions.   The following modifications apply to the
definition of Compensation for matching contributions: ________. 

     5.     
          PLAN YEAR/LIMITATION YEAR (1.24).   Plan Year and Limitation Year
          mean the 12-consecutive month period (except for a short Plan Year) ending
          every: (Choose (a) or (b). Choose (c) if applicable) 

	[X] 	(a)    December
31.

	[   ] 	
   (b)       Other: ________.  

	[   ] 	
(c)      Short Plan Year:   commencing on:
________ and ending on: ________. 

6.      EFFECTIVE
DATE (1.10). The Employer's adoption of the Plan is a: (Choose one of (a) or (b))  

	[   ] 	
(a)      New Plan.     The Effective Date of
the Plan is: ________. 

2 

	[X]  	(b)     Restated
Plan.   The restated Effective Date is:          January
1,           2005         . 

	 	
This
Plan is an amendment and restatement of an existing retirement plan(s) originally
established effective as of:         January
1, 1986        .  

     7.    
          HOUR OF SERVICE/ELAPSED TIME METHOD (1.15).   The crediting method
          for Hours of Service is: (Choose one or more of (a) through (d) as
          applicable) 

	[X] 	(a)
     Actual Method.   See Plan Section 1.15(B). 

	[   ] 	
(b)      Equivalency Method.   The Equivalency Method is: . [Note: Insert
"daily," "weekly," "semi-monthly payroll periods" or "monthly."] See Plan
Section 1.15(C). 

	[   ] 	
(c)      Combination Method.   In lieu of the Equivalency Method specified in (b), the
Actual Method applies for purposes of: . 

	[   ] 	
(d)      Elapsed Time Method. I  n lieu of crediting Hours of Service, the Elapsed Time
Method applies for purposes of crediting Service for: (Choose one or more of
(1), (2) or (3) as applicable)  

	[   ] 	
 (1)      Eligibility under Article II.

	[   ] 	
 (2)      Vesting under Article V.

	     [   ] 	
   (3)      Contribution allocations under Article III.

     8.    
          PREDECESSOR EMPLOYER SERVICE  (1.30).   In addition to the
          predecessor service the Plan must credit by reason of Section 1.30 of the
          Plan, the Plan credits as Service under this Plan, service with the following
          predecessor employer(s):         
          Pacific Retail Trust; Regency Realty
          Group        . 

[Note: If the Plan does not credit
any additional predecessor service under this Section 1.30, insert “N/A” in the
blank line. The Employer also may elect to credit predecessor service with specified
Participating Employers only. See the Participation Agreement.] Service with the
designated predecessor employer(s) applies: (Choose one or more of (a) through (d) as
applicable) 

	[X] 	(a)     
Eligibility.   For eligibility under Article II. See Plan Section 1.30           for
time of Plan entry. 

	[X] 	(b)     
Vesting.   For vesting under Article V. 

	[X] 	(c)     
Contribution allocation.   For contribution allocations under Article           III. 

	[   ] 	
(d)      Exceptions.   Except for the following Service: . 

ARTICLE II 
ELIGIBILITY
REQUIREMENTS  

9.      ELIGIBILITY    (2.01).  

Eligibility conditions.   To
become a Participant in the Plan, an Employee must satisfy the following eligibility
conditions: (Choose one or more of (a) through (e) as applicable) [Note: If the
Employer does not elect (c), the Employer’s elections under (a) and (b) apply to all
types of contributions. The Employer as to deferral contributions may not elect (b)(2) and
may not elect more than 12 months in (b)(4) and (b)(5).] 

	[X] 	(a)     
Age.   Attainment of age       18                (not
to exceed age 21). 

3 

	[X] 	(b)     
Service.   Service requirement.   (Choose one of (1) through (5))

	 	     [   ]	
   (1)      One Year of Service.

	 	     [   ]	
   (2)      Two Years of Service, without an intervening Break in Service. See Plan Section
              2.03(A).

	 	     [   ]	
   (3)      One Hour of Service (immediate completion of Service requirement). The Employee
              satisfies the Service requirement on his/her Employment Commencement Date.

	 	[X]	(4)     
      six           (6)       months
(not exceeding 24). 

	 	[   ]	
 (5)      An Employee must complete              Hours
of Service within the              time
period following the Employee’s Employment Commencement Date. If an Employee does
not complete the stated Hours of Service during the specified time period (if any), the
Employee is subject to the One Year of Service requirement. [Note: The number of hours
may not exceed 1,000 and the time period may not exceed 24 months. If the Plan
does not require the Employee to satisfy the Hours of Service requirement within a
specified time period, insert “N/A” in the second blank line.] 

	[   ]  	
(c)      Alternative 401(k)/401(m) eligibility conditions.   In lieu of the
elections in (a) and (b), the Employer elects the following eligibility conditions for
the following types of contributions: (Choose (1) or (2) or both if the Employer
wishes to impose less restrictive eligibility conditions for deferral/Employee
contributions or for matching contributions)

	 	(1) 	[   ]      Deferral/Employee contributions:   (Choose one of a. through
          d. Choose e. if  applicable) 

	 	a.	[   ]      One
Year of Service  

	 	b. 	[   ]      One
Hour of Service (immediate           completion of Service requirement)  

	 	c. 	[   ]                                     months
(not exceeding 12)  

	 	d.	[   ]      An
Employee must complete                       Hours
of Service within the             time
period following an Employee’s Employment Commencement Date. If an Employee does not
complete the stated Hours of Service during the specified time period (if any), the
Employee is subject to the One Year of Service requirement. [Note: The number of hours
may not exceed 1,000 and the time period may not exceed 12 months. If the Plan
does not require the Employee to satisfy the Hours of Service requirement within a
specified time period, insert “N/A” in the second blank line.] 

	 	e. 	[   ]      Age
                      (not
exceeding age 21)  

	 	(2) 	[   ]      Matching
contributions:   (Choose one of f. through i.           Choose j. if
applicable) 

	 	f. 	[   ]      One
Year of Service  

	 	g. 	[   ]      One
Hour of Service (immediate           completion of Service requirement)  

	 	h. 	[   ]                           months
(not exceeding 24)  

	 	i. 	[   ]      An
Employee must complete                       Hours
of Service within the             
time period following an Employee’s Employment Commencement Date. If an Employee does
not complete the stated Hours of Service during the specified time period (if any), the
Employee is subject to the One Year of Service requirement. [Note: The number of hours
may not exceed 1,000 and the  time period may not exceed 24 months. If the Plan
does not require the  Employee to satisfy the Hours of Service requirement within a
specified time  period, insert “N/A” in the second blank line.] 

	 	j.	[   ]      Age
                      (not
exceeding age 21)  

	[   ] 	
(d)      Service requirements: ________. 
[Note:
Any Service requirement the Employer elects in (d) must be available under other Adoption
Agreement elections or a combination thereof.]  

	[   ] 	
 (e)      Dual eligibility.   The eligibility conditions of this Section
2.01 apply solely to an Employee employed by the Employer after             .
If the Employee was employed by the Employer by the specified date, the Employee will
become a Participant on the latest of: (i) the Effective Date; (ii) the restated
Effective Date; (iii) the Employee’s Employment Commencement Date; or (iv) on the
date the Employee attains age              (not
exceeding age 21). 

4 

Plan Entry Date.   “Plan
Entry Date” means the Effective Date and: (Choose one of (f) through (j). Choose
(k) if applicable) [Note: If the Employer does not elect (k), the elections
under (f) through (j) apply to all types of contributions. The Employer must elect at
least one Entry Date per Plan Year.] 

	[   ] 	
(f)      Semi-annual Entry Dates. The first day of the Plan Year and the first day of the
seventh          month
of the Plan Year. 

	[   ] 	
(g)      The first day of the Plan Year. 

	[   ] 	
(h)      Employment Commencement Date (immediate eligibility). 

	[X] 	(i)
     The first day of each:         Plan
          year quarter       (e.g., “Plan Year
          quarter”). 

	[   ] 	
(j)      The following Plan Entry Dates:   ________. 

	[   ] 	
(k)      Alternative 401(k)/401(m) Plan Entry Date(s).   For the alternative 401(k)/401(m)
eligibility conditions under (c), Plan Entry Date means: (Choose (1) or (2) or
both as applicable)  

	(1)    [   ]     Deferral/Employee contributions 
                  (Choose one of a. through d.)	 	(2)    [   ]     Matching contributions
                  (Choose one of e. through h.)	 	 	 
	     	 		 
	        a.       [   ]      Semi-annual Entry Dates	                                                  	e.          [   ]      Semi-annual Entry Dates
	        b.       [   ]      The first day of the Plan Year	               	f.           [   ]      The first day of the Plan Year
	        c.       [   ]      Employment Commencement Date	               	g.          [   ]      Employment Commencement Date
	                            (immediate eligibility)		                          (immediate eligibility)
	        d.       [   ]      The first day of each:	               	h.          [   ]      The first day of each:
	                              ______		                           ______			

Time of participation.   An
Employee will become a Participant, unless excluded under Section 1.11, on the Plan Entry
Date (if employed on that date): (Choose one of (l), (m) or (n). Choose (o) if
applicable): [Note: If the Employer does not elect (o), the election under (l), (m)
or (n) applies to all types of contributions.] 

	[X] 	(l)     
Immediately following or coincident with

	[   ] 	
(m)      Immediately preceding or coincident with 

	[   ] 	
(n)      Nearest  

	[   ] 	
(o)      Alternative 401(k)/401(m) election(s):   (Choose (1) or (2) or both as applicable)  

	(1)    [   ]     Deferral contributions 	 	(2)    [   ]     Matching contributions
                  (Choose one of b., c. of c..)	 	 	 
	     	 		 
	        a.       [   ]      Immediately following 
                            or coincident with	                                                  	b.          [   ]      Immediately following 
                         or coincident with
		               	c.           [   ]      Immediately following 
                         or coincident with
		               	d.          [   ]      Nearest

the date the Employee completes the
eligibility conditions described in this Section 2.01. [Note: Unless otherwise excluded
under Section 1.11, an Employee must become a Participant by the earlier of: (1)
the first day of the Plan Year beginning after the date the Employee completes the age and
service requirements of Code §410(a); or (2) 6 months after the date the Employee
completes those requirements.] 

5 

	10. 	YEAR
OF SERVICE — ELIGIBILITY  (2.02).   (Choose (a) and (b)
          as applicable): [Note:If the Employer does not elect a Year of
          Service condition or elects the Elapsed Time Method, the Employer should not
          complete (a) or (b).] 

	[   ]  	
(a)      Year of Service.   An Employee must complete              Hour(s)
of Service during an eligibility computation period to receive credit for a Year of
Service under Article II: [Note: The number may not exceed 1,000. If left
blank, the requirement is 1,000.] 

	[   ]  	
(b)      Eligibility computation period.   After the initial eligibility
computation period described in Plan Section 2.02, the Plan measures the eligibility
computation period as: (Choose one of (1) or (2))

	 	[   ]	
 (1)      The Plan Year beginning with the Plan Year which includes the first anniversary
of the Employee’s Employment Commencement Date. 

	 	[   ] 	
(2)      The 12-consecutive month period beginning with each anniversary of the Employee’s
Employment Commencement Date. 

11.    PARTICIPATION
— BREAK IN SERVICE  (2.03).   The one year           hold-out
rule described in Plan Section 2.03(B): (Choose one of (a), (b) or           (c)) 

	[X] 	(a)     
Not applicable.   Does not apply to the Plan. 

	[   ] 	
(b)      Applicable.   Applies to the Plan and to all Participants. 

	[   ] 	
(c)      Limited application.   Applies to the Plan, but only to a Participant who has
incurred a Separation from Service. 

     12.    
          ELECTION NOT TO PARTICIPATE   (2.06).   The Plan:   (Choose one of
          (a) or (b)) 

	[X] 	(a)
     Election not permitted.   Does not permit an eligible Employee to elect
          not to participate. 

	[   ]   	
(b)      Irrevocable election.   Permits an Employee to elect not to
participate if the Employee makes a one-time irrevocable election prior to the Employee’s
Plan Entry Date. 

ARTICLE III 
EMPLOYER
CONTRIBUTIONS, DEFERRAL CONTRIBUTIONS AND FORFEITURES

13.      AMOUNT AND TYPE  (3.01).
  The amount and type(s) of the                     Employer’s
contribution to the Trust for a Plan Year or other specified                     period
will equal:   (Choose one or more of (a) through (f) as applicable) 

	[X] 	                    (a)     
Deferral contributions (401(k) arrangement).   The dollar or percentage
                    amount by which each Participant has elected to reduce his/her
Compensation, as                     provided in the Participant’s salary reduction
agreement and in accordance                     with Section 3.02. 

	[X] 	                    (b)     
Matching contributions (other than safe harbor matching contributions
                    under Section    3.01(d)).   The
matching contributions made in                     accordance with Section 3.03. 

	[X] 	                    (c)
     Nonelective contributions (profit sharing).   The
following nonelective                     contribution (Choose (1) or (2) or
both as applicable): [Note:                     The Employer may designate as a
qualified nonelective contribution, all                     or any portion of its
nonelective contribution. See Plan Section 3.04(F).] 

	 	[X]	(1)      Discretionary.   An amount the Employer in its sole discretion may
          determine. 

	 	     [   ]	
(2)      Fixed.   The following amount:  

6 

	[   ] 	
(d)      401(k) safe harbor contributions.   The following 401(k) safe harbor contributions
described in Plan Section 14.02(D): (Choose one of (1), (2) or (3). Choose (4),
if applicable) 

	 	     [   ]	
(1)      Safe harbor nonelective contribution.   The safe harbor nonelective contribution
equals % of a Participant's Compensation [Note: the amount in the
blank must be at least 3%.]. 

	 	[   ] 	
(2)      Basic safe harbor matching contribution.   A matching
contribution equal to 100% of each Participant’s deferral contributions not
exceeding 3% of the Participant’s Compensation, plus 50% of each Participant’s
deferral contributions in excess of 3% but not in excess of 5% of the Participant’s
Compensation. For this purpose, “Compensation” means Compensation for:             .
[Note: The Employer must complete the blank line with the applicable time
period for computing the Employer’s basic safe harbor match, such as “each
payroll period,” “each month,” “each Plan Year quarter” or
“the Plan Year”.] 

	 	     [   ]	
(3)      Enhanced safe harbor matching contribution.   (Choose one of a. or b.).  

	 	         [   ]	
a.      Uniform percentage.   An amount equal to % of each Participant's deferral
contributions not exceeding ______% of the Participant's
Compensation. For this purpose, "Compensation" means Compensation for:
________.   [See the Note in (d)(2).]  

	 	[   ]	
 b.      Tiered formula.   An amount equal to the specified matching
percentage for the corresponding level of each Participant’s deferral contribution
percentage. For this purpose, “Compensation” means Compensation for:             .
[See the Note in (d)(2).]  

	 	
Deferral
Contribution Percentage                         Matching Percentage 

	 	
     ________                   
                                   ________

     ________                   
                                   ________

     ________                   
                                   ________

[Note: The matching percentage may
not increase as the deferral contribution percentage increases and the enhanced matching
formula otherwise must satisfy the requirements of Code §§401(k)(12)(B)(ii) and
(iii). If the Employer wishes to avoid ACP testing on its enhanced safe harbor matching
contribution, the Employer also must limit deferral contributions taken into account (the
“Deferral Contribution Percentage”) for the matching contribution to 6% of Plan
Year Compensation.] 

	 	     [   ]	
(4)      Another plan.   The Employer will satisfy the 401(k) safe harbor contribution in the
following plan: . 

	[   ] 	
(e) Davis-Bacon contributions.   The amount(s) specified for the
applicable Plan Year or other applicable period in the Employer’s Davis-Bacon
contract(s). The Employer will make a contribution only to Participants covered by the
contract and only with respect to Compensation paid under the contract. If the
Participant accrues an allocation of nonelective contributions (including forfeitures)
under the Plan in addition to the Davis-Bacon contribution, the Plan Administrator will:
(Choose one of (1) or (2))

	 	[   ]	
 (1)      Not reduce the Participant’s nonelective contribution allocation by the
Davis-Bacon contribution. 

	 	[   ]	
 (2)      Reduce the Participant’s nonelective contribution allocation by the
Davis-Bacon contribution. 

	[   ]  	
(f)      Frozen Plan.   This Plan is a frozen Plan effective:             .
For any period following the specified date, the Employer will not contribute to the
Plan, a Participant may not contribute and an otherwise eligible Employee will not become
a Participant in the Plan. 

7 

14.      DEFERRAL CONTRIBUTIONS   (3.02).
  The following limitations and terms                     apply to an Employee’s
deferral contributions: (If the Employer elects                     Section 3.01(a),
the Employer must elect (a). Choose (b) or (c) as applicable)  

	[X] 	                    (a)     
Limitation on amount.   An Employee’s deferral contributions are
                    subject to the following limitation(s) in addition to those imposed
by the Code: (Choose (1), (2) or (3) as applicable)

	 	     [   ]	
   (1)      Maximum deferral amount:   ________.

	 	     [   ]	
   (2)      Minimum deferral amount:    ________.

	 	[X]	(3)     
No limitations. 

For the Plan Year in which an
Employee first becomes a Participant, the Plan Administrator will apply any percentage
limitation the Employer elects in (1) or (2) to the Employee’s Compensation:
(Choose one of (4) or (5) unless the Employer elects (3)) 

	 	     [   ]	
   (4)      Only for the portion of the Plan Year in which the Employee actually is a
Participant.

	 	     [   ]	
   (5)      For the entire Plan Year.

	[   ]  	
(b)      Negative deferral election.   The Employer will withhold         %
from the Participant’s Compensation unless the Participant elects a lesser
percentage (including zero) under his/her salary reduction agreement. See Plan Section
14.02(C). The negative election will apply to:   (Choose
one of (1) or (2))

	 	     [   ]	
   (1)      All Participants who have not deferred at least the automatic deferral amount as
of:    ________.

	 	[   ] 	
(2)      Each Employee whose Plan Entry Date is on or following the negative election
effective date. 

	[   ]  	
(c)      Cash or deferred contributions.   For each Plan Year for which
the Employer makes a designated cash or deferred contribution under Plan Section
14.02(B), a Participant may elect to receive directly in cash not more than the following
portion (or, if less, the 402(g) limitation) of his/her proportionate share of that cash
or deferred contribution:  (Choose one of (1) or (2))

	 	     [   ]	
   (1)      All or any portion.                                                    [   ]       (2)     
          ________%.

Modification/revocation of salary
reduction agreement.   A Participant prospectively may modify or revoke a salary
reduction agreement, or may file a new salary reduction agreement following a prior
revocation, at least once per Plan Year or during any election period specified by the
basic plan document or required by the Internal Revenue Service. The Plan Administrator
also may provide for more frequent elections in the Plan’s salary reduction agreement
form. 

     15.    
          MATCHING CONTRIBUTIONS (INCLUDING ADDITIONAL SAFE HARBOR MATCH UNDER PLAN
          SECTION 14.02(D)(3))   (3.03).   The Employer matching
          contribution is:  (If the Employer elects Section 3.01(b), the Employer must
          elect one or more of (a), (b) or (c) as applicable. Choose (d) if applicable)
           

	[X] 	(a)     
Fixed formula.   An amount equal to   50    %
of each Participant’s           deferral contributions. 

	[   ]  	
(b)      Discretionary formula.   An amount (or additional amount) equal
to a matching percentage the Employer from time to time may deem advisable of the
Participant’s deferral contributions. The Employer, in its sole discretion, may
designate as a qualified matching contribution, all or any portion of its discretionary
matching contribution. The portion of the Employer’s discretionary matching
contribution for a Plan Year not designated as a qualified matching contribution is a
regular matching contribution. 

8

	[   ] 	
 (c)      Multiple level formula.   An amount equal to the following
percentages for each level of the Participant’s deferral contributions. [Note:The
matching percentage only will apply to deferral contributions in excess of the
previous level and not in excessof the stated deferral contribution
percentage.] 

	 	
Deferral
Contributions                         Matching
Percentage

	 	
     ________                   
                                   ________

     ________                   
                                   ________

     ________                   
                                   ________

	[   ] 	
 (d)      Related Employers.   If two or more Related Employers
contribute                     to this Plan, the Plan Administrator will allocate
matching contributions and                     matching contribution forfeitures only to
the Participants directly employed by                     the contributing Employer. The
matching contribution formula for the other                     Related Employer(s) is:
            .
                    [Note:If the Employer does not elect (d),the
Plan                     Administrator will allocate all matching contributions and
matching forfeitures without regard to which contributing Related Employer
directly                     employs the Participant.] 

Time period for matching
contributions.   The Employer will determine its matching contribution based on deferral
contributions made during each: (Choose one of (e) through (h)) 

	[   ] 	
(e)      Plan Year. 

	[   ] 	
(f)      Plan Year quarter. 

	[X] 	(g)     
Payroll period.

	[   ] 	
 (h)      Alternative time period:              .
[Note:Any alternative time period the Employer elects in (h) must be the
same for all Participants and may not exceed the Plan Year.] 

Deferral contributions taken into
account.   In determining a Participant’s deferral contributions taken into account
for the above-specified time period under the matching contribution formula, the following
limitations apply: (Choose one of (i), (j) or (k)) 

	[   ] 	
 (i)      All deferral contributions.   The Plan Administrator will take
into account all deferral contributions. 

	[X] 	                    (j)     
Specific limitation.   The Plan Administrator will disregard deferral
                    contributions exceeding  $6,000 or an equal amount expressed
as                     a  % of the Participant’s Compensation. [Note:
To avoid the ACP test in a safe harbor 401(k) plan, the Employer must limit
                    deferrals and Employee contributions which are subject to
match to 6% of                     Plan Year Compensation.] 

	[   ] 	
 (k)      Discretionary.   The Plan Administrator will take into account
the deferral contributions as a percentage of the Participant’s Compensation as the
Employer determines. 

Other matching contribution
requirements.   The matching contribution formula is subject to the following additional
requirements: (Choose (l) or (m) or both if applicable) 

	[X] 	                    (l)     
Matching contribution limits.   A Participant’s matching
                    contributions may not exceed: (Choose one of (1) or (2))

	 	[X]	              (1)     
     $3,000, also, employer matching
               contributions will only be made on employee deferral contributions
not                withdrawn prior to the end of the applicable                period      .
[Note: The Employer may elect                (1) to place an overall dollar or
percentage limit on matching                contributions.] 

	 	[   ] 	
(2)      ____ of a Participant’s Compensation for the Plan Year under the
discretionary matching contribution formula. [Note: The Employer must elect (2) if it
elects a discretionary matching formula with the safe harbor 401(k) contribution
formula and wishes to avoid the ACP test.] 

9

	[   ]  	
(m)      Qualified matching contributions.   The Plan Administrator will
allocate as qualified matching contributions, the matching contributions specified in
Adoption Agreement Section:             .
The Plan Administrator will allocate all other matching contributions as regular matching
contributions. [Note:If the Employer elects two matching formulas, the Employer
may use (m) to designate one of the formulas as a qualified matching contribution.] 

     16.     
          CONTRIBUTION ALLOCATION   (3.04). 

Employer nonelective contributions
(3.04(A)).  The Plan Administrator will allocate the Employer’s nonelective
contribution under the following contribution allocation formula: (Choose one of (a),
(b) or (c). Choose (d) if applicable) 

	[X] 	(a)     
Nonintegrated (pro rata) allocation formula.

	[   ] 	
 (b)      Permitted disparity.   The following permitted disparity
formula and definitions apply to the Plan: (Choose one of (1) or (2). Also choose (3))

	 	     [   ]	
   (1)      Two-tiered allocation formula.

	 	     [   ]	
   (2)      Four-tiered allocation formula.

	 	     [   ]	
(3)      For purposes of Section 3.04(b), "Excess Compensation" means Compensation in
excess of:  (Choose one of a. or b.) 

	 	         [   ]	
   a.     ______% of the taxable wage base in effect on the first day of the Plan Year,
                  rounded to the next highest $______ (not exceeding the taxable wage
base). 

	 	         [   ]	
   b.       The following integration level:  ________. 
[Note:
The integration level cannot exceed the taxable wage base in effect for the 
Plan Year for which this Adoption Agreement first is effective.]

	[   ] 	
(c)      Uniform points allocation formula.   Under the uniform points allocation formula, a
Participant receives: (Choose (1) or both (1) and (2) as applicable) 

	 	     [   ]	
   (1)      ________ point(s) for each Year of Service. Year of Service means:  ________.

	 	[   ] 	
(2)      One point for each $        [not
to exceed $200] increment of Plan Year Compensation. 

	[   ] 	
 (d)      Incorporation of contribution formula.   The Plan Administrator
will allocate the Employer’s nonelective contribution under Section(s) 3.01(c)(2),
(d)(1) or (e) in accordance with the contribution formula adopted by the Employer under
that Section. 

Qualified nonelective
contributions. (3.04(F)).   The Plan Administrator will allocate the Employer’s
qualified nonelective contributions to: (Choose one of (e) or (f)) 

	[X] 	(e)     
Nonhighly compensated Employees only.

	[   ] 	
(f)      All Participants. 

10

Related Employers.   (Choose (g) if
applicable)  

	[   ] 	
 (g)      Allocate only to directly employed Participants.   If two or
more Related Employers adopt this Plan, the Plan Administrator will allocate all
nonelective contributions and forfeitures attributable to nonelective contributions only
to the Participants directly employed by the contributing Employer. If a Participant
receives Compensation from more than one contributing Employer, the Plan Administrator
will determine the allocations under this Section 3.04 by prorating the Participant’s
Compensation between or among the participating Related Employers. [Note: If the
Employer does not elect 3.04(g), the Plan Administrator will allocate all nonelective
contributions and forfeitures without regard to which contributing Related Employer
 directly employs the Participant. The Employer may not elect 3.04(g) under a safe
harbor 401(k) Plan.] 

     17.    
          FORFEITURE ALLOCATION   (3.05).   The Plan Administrator will allocate
          a Participant forfeiture: (Choose one or more of (a), (b) or (c) as
          applicable) [Note: Even if the Employer elects immediate vesting, the
          Employer should complete Section 3.05. See Plan Section 9.11.]  

	[   ] 	 (a)     
Matching contribution forfeitures.   To the extent attributable to
matching contributions:   (Choose
one of (1) through (4)) 

	 	     [   ]	
   (1)      As a discretionary matching contribution.

	 	     [   ]	
   (2)      To reduce matching contributions.

	 	     [   ]	
   (3)      As a discretionary nonelective contribution.

	 	     [   ]	
   (4)      To reduce nonelective contributions.

	[X] 	                    (b)     
Nonelective contribution forfeitures.   To the extent attributable to
                    Employer nonelective contributions:  (Choose one of (1) through (4))

	 	[X]	(1)     
As a discretionary nonelective contribution. 

	 	     [   ]	
   (2)      To reduce nonelective contributions.

	 	     [   ]	
   (3)      As a discretionary matching contribution.

	 	     [   ]	
   (4)      To reduce matching contributions.

	[   ] 	
 (c)      Reduce administrative expenses.   First to reduce the Plan’s
ordinary and necessary administrative expenses for the Plan Year and then allocate any
remaining forfeitures in the manner described in Sections 3.05(a) or (b) as applicable. 

Timing of forfeiture
allocation.   The Plan Administrator will allocate forfeitures under Section 3.05 in the
Plan Year: (Choose one of (d) or (e)) 

	[X] 	(d)     
In which the forfeiture occurs. 

	[   ] 	 (e)     
Immediately following the Plan Year in which the forfeiture occurs. 

     18.     
          ALLOCATION CONDITIONS  (3.06).  

Allocation conditions.   The
Plan does not apply any allocation conditions to deferral contributions, 401(k) safe
harbor contributions (under Section 3.01(d)) or to Davis-Bacon contributions (except as
the Davis-Bacon contract provides). To receive an allocation of matching contributions,
nonelective contributions, qualified nonelective contributions or Participant forfeitures,
a Participant must satisfy the following allocation condition(s): (Choose one or more
of (a) through (i) as applicable) 

11

	[X] 	                    (a)     
Hours of Service condition.   The Participant must complete at least
                    the specified number of Hours of Service (not exceeding 1,000) during
the Plan                     Year:              . 

	[X] 	                    (b)     
Employment condition.   The Participant must be employed by the
                    Employer on the last day of the       Plan
                    Year       (designate time period). 

	[   ] 	
(c)      No allocation conditions. 

	[   ]  	
(d)      Elapsed Time Method.   The Participant must complete at least
the specified number (not exceeding 182) of consecutive calendar days of employment with
the Employer during the Plan Year:              . 

	[   ]  	
(e)      Termination of Service/501 Hours of Service coverage rule.   The
Participant either must be employed by the Employer on the last day of the Plan Year or
must complete at least 501 Hours of Service during the Plan Year. If the Plan uses the
Elapsed Time Method of crediting Service, the Participant must complete at least 91
consecutive calendar days of employment with the Employer during the Plan Year. 

	[   ]  	
(f)      Special allocation conditions for matching contributions.   The
Participant must complete at least              Hours
of Service during the             (designate
time period) for the matching contributions made for that time period. 

	[   ] 	
(g)      Death, Disability or Normal Retirement Age.   Any condition specified in Section
3.06 applies if the Participant incurs a Separation from Service
during the Plan Year on account of: (e.g., death, Disability or
Normal Retirement Age). 

	[X] 	                    (h)     
Suspension of allocation conditions for coverage.   The suspension of
                    allocation conditions of Plan Section 3.06(E) applies to the Plan. 

	[X] 	                    (i)     
Limited allocation conditions.   The Plan does not impose an allocation
                    condition for the following types of contributions:        matching
                    contributions      .  [Note: Any
election to limit the Plan’s allocation conditions to certain contributions
                    must be the same for all Participants, be definitely
determinable and                     not discriminate in favor of Highly Compensated Employees.] 

ARTICLE IV 
PARTICIPANT
CONTRIBUTIONS 

     19.    
          EMPLOYEE (AFTER TAX) CONTRIBUTIONS  (4.02).   The following elections
          apply to Employee contributions:  (Choose one of (a) or (b). Choose (c) if
          applicable 

	[X] 	(a)     
Not permitted.   The Plan does not permit Employee contributions. 

	[   ]  	
(b)      Permitted.   The Plan permits Employee contributions subject to
the following limitations:              .   
        [Note:
Any designated limitation(s) must be the same for all Participants, be definitely 
determinable and not discriminate in favor of Highly Compensated Employees.]

	[   ]  	
(c)      Matching contribution.   For each Plan Year, the Employer’s
matching contribution made with respect to Employee contributions is:              . 

ARTICLE V 
VESTING REQUIREMENTS 

20.      NORMAL/EARLY RETIREMENT AGE (5.01).
  A Participant attains Normal                     Retirement Age (or Early
Retirement Age, if applicable) under the Plan on the                     following date:
(Choose one of (a) or (b). Choose (c) if applicable) 

	[X] 	                    (a)     
Specific age.   The date the Participant attains age        65       .
                     [Note: The age may not exceed age 65.] 

12

	[   ]  	
(b)      Age/participation.   The later of the date the Participant
attains               years
of age or the             anniversary
of the first day of the Plan Year in which the Participant commenced participation in the
Plan. [Note: The age may not exceed age 65 and the anniversary may
not exceed the 5th.] 

	[X] 	                    (c)     
Early Retirement Age.   Early Retirement Age is the later of: (i) the
                    date a Participant attains age       55                          or
(ii) the date a Participant reaches his/her       3rd       anniversary
of the first day of the Plan Year in which the Participant                     commenced
participation in the Plan. 

21.      PARTICIPANT’S DEATH OR
DISABILITY (5.02).   The 100% vesting                     rule under
Plan Section 5.02 does not apply to: (Choose (a) or (b) or both as
                    applicable) 

	[   ] 	
(a)      Death. 

	[   ] 	
(b)      Disability. 

     22.     
          VESTING SCHEDULE  (5.03).   A Participant has a 100% Vested interest
          at all times in his/her deferral contributions, qualified nonelective
          contributions, qualified matching contributions, 401(k) safe harbor
          contributions and Davis-Bacon contributions (unless otherwise indicated in (f)).
          The following vesting schedule applies to Employer regular matching
          contributions and to Employer nonelective contributions: (Choose (a) or
          choose one or more of (b) through (f) as applicable)  

	[   ]  	
(a)      Immediate vesting.   100% Vested at all times.  [Note:The
Employer must elect (a) if the Service condition under Section 2.01 exceeds One
Year of Service or more than twelve months.] 

	[X] 	                    (b)     
Top-heavy vesting schedules.   [Note: The Employer must choose one
                    of (b)(1), (2) or (3) if it does not elect (a).] 

	 	     [   ]	   (1)
     6-year graded as specified in the Plan.               [   ]
        (3)      Modified top-heavy
schedule 

	 	[X] 	(2)     
3-year cliff as specified in the Plan.

		Years of

Service
	Vested

Percentage

		 	
Less than 1	 	______%	 
		 	
     1	 	______%	 
		 	
     2	 	______%	 
		 	
     3	 	______%	 
		 	
     4	 	______%	 
		 	
     5	 	______%	 
		 	
     6 or more	 	100%	 

	[   ] 	
(c)      Non-top-heavy vesting schedules.   [Note: The Employer may elect one of (c)(1), (2)
or (3) in addition to (b).]  

	 	     [   ]	
   (1)      7-year graded as specified in the Plan.                         [   ]    (3)      Modified
non-top-heavy schedule

	 	     [   ]	
   (2)      5-year cliff as specified in the Plan.

13

		Years of

Service
	Vested

Percentage

		 	
Less than 1	 	______%	 
		 	
     1	 	______%	 
		 	
     2	 	______%	 
		 	
     3	 	______%	 
		 	
     4	 	______%	 
		 	
     5	 	______%	 
		 	
     6	 	______%	 
		 	
     7 or more	 	100%	 

If the Employer does not elect (c),
the vesting schedule elected in (b) applies to all Plan Years. [Note: The modified
top-heavy schedule of (b)(3) must satisfy Code §416. If the Employer elects (c)(3),
the modified non-top-heavy schedule must satisfy Code §411(a)(2).] 

	[X]  	                   (d)     
Separate vesting election for regular matching contributions.   In lieu
                    of the election under (a), (b) or (c), the following vesting schedule
applies to                     a Participant’s regular matching contributions:  (Choose
one of (1) or                     (2))

	 	[X]	(1)     
100% Vested at all times. 

	 	     [   ]	
   (2)      Regular matching vesting schedule: ________.         [Note:
The vesting schedule completed under (d)(2) must comply with Code §411(a)(4).] 

	[   ]  	
(e)      Application of top-heavy schedule.   The non-top-heavy schedule
elected under (c) applies in all Plan Years in which the Plan is not a top-heavy plan. [Note:
If the Employer does not elect (e), the top-heavy vesting schedule will apply for
the first Plan Year in which the Plan is top-heavy and then in all subsequent Plan
Years.] 

	[   ]  	
(f)      Special vesting provisions:              .
[Note:Any special vesting provision must satisfy Code §411(a). Any
special vesting provision must be definitely determinable, not discriminate in
favor of Highly Compensated Employees and not violate Code §401(a)(4).] 

23.      YEAR OF SERVICE — VESTING  (5.06).
  (Choose (a) and                     (b)): [Note: If the Employer
elects the Elapsed Time Method or elects                     immediate vesting, the
Employer should not complete (a) or (b).]  

	[X] 	                    (a)     
Year of Service.   An Employee must complete at least        1,000                          Hours
of Service during a vesting computation period to receive credit for a
                    Year of Service under Article V. [Note: The number may not exceed
1,000. If                     left blank, the requirement is 1,000.] 

	[X] 	                    (b)     
Vesting computation period.   The Plan measures a Year of Service on
                    the basis of the following 12-consecutive month period:  (Choose
one of (1) or                     (2))

	 	[X]	(1)     
Plan Year. 

	 	[   ] 	
(2)      Employment year (anniversary of Employment Commencement Date). 

14

     24.     
          EXCLUDED YEARS OF SERVICE — VESTING   (5.08).   The Plan excludes
          the following Years of Service for purposes of vesting: (Choose (a) or choose
          one or more of (b) through (f) as applicable) 

	[X] 	(a)
     None.   None other than as specified in
Plan Section 5.08(a). 

	[   ] 	
 (b)      Age 18.   Any Year of Service before the Year of Service during
which the Participant attained the age of 18. 

	[   ] 	
 (c)      Prior to Plan establishment.   Any Year of Service during the
period the Employer did not maintain this Plan or a predecessor plan. 

	[   ] 	
(d)       Parity Break in Service.   Any Year of Service excluded under the rule of parity.
See Plan Section
5.10. 

	[   ] 	
 (e)      Prior Plan terms.   Any Year of Service disregarded under the
terms of the Plan as in effect prior to this restated Plan. 

	[   ] 	
   (f)       Additional exclusions. Any Year of Service before: ________.   [Note:
Any exclusion specified under (f) must comply with Code §411(a)(4). Any
exclusion must be definitely determinable, not discriminate in favor of Highly
Compensated Employees and not violate Code §401(a)(4).If the Employer
elects immediate vesting, the Employer should not complete Section 5.08.] 

ARTICLE VI 
DISTRIBUTION
OF ACCOUNT BALANCE 

     25.     
          TIME OF PAYMENT OF ACCOUNT BALANCE  (6.01).   The following time of
          distribution elections apply to the Plan: 

Separation from Service/Vested
Account Balance not exceeding $5,000.   Subject to the limitations of Plan Section
6.01(A)(1), the Trustee will distribute in a lump sum (regardless of the Employer’s
election under Section 6.04) a separated Participant’s Vested Account Balance not
exceeding $5,000: (Choose one of (a) through (d)) 

	[X] 	                    (a)     
Immediate.   As soon as administratively practicable following the
                    Participant’s Separation from Service. 

	[   ] 	
   (b)       Designated Plan Year. As soon as administratively practicable in the
             Plan Year          beginning after the Participant's Separation from Service.

	[   ] 	
(c)      Designated Plan Year quarter.   As soon as administratively practicable in the
Plan Year quarter beginning after the Participant's Separation from
Service. 

	[   ] 	
(d)      Designated distribution.   As soon as administratively practicable in the:
following the Participant's Separation from Service. [Note: The
designated distribution time must be the same for all Participants, be
definitely determinable, not discriminate in favor of Highly Compensated
Employees and not violate Codess.401(a)(4).]  

Separation from Service/Vested
Account Balance exceeding $5,000.   A separated Participant whose Vested Account Balance
exceeds $5,000 may elect to commence distribution of his/her Vested Account Balance no
earlier than: (Choose one of (e) through (i). Choose (j) if applicable) 

15

	[X] 	                    (e)     
Immediate.   As soon as administratively practicable following the
                    Participant’s Separation from Service. 

	[   ] 	
(f)      Designated Plan Year.   As soon as administratively practicable in the
Plan Year beginning after the Participant's Separation from Service. 

	[   ] 	
 (g)      Designated Plan Year quarter.   As soon as administratively
practicable in the              Plan
Year quarter following the Plan Year quarter in which the Participant elects to receive a
distribution. 

	[   ]  	
(h)      Normal Retirement Age.   As soon as administratively
practicable after the close of the Plan Year in which the Participant attains Normal
Retirement Age and within the time required under Plan Section 6.01(A)(2). 

	[   ] 	
 (i) Designated distribution.   As soon as administratively
practicable in the:              following
the Participant’s Separation from Service. [Note: The designated distribution
time must be the same for all Participants, be definitely determinable, not
discriminate in favor of Highly Compensated Employees and not violate Code §401(a)(4).] 

	[   ]  	
(j)      Limitation on Participant’s right to delay distribution.   A
Participant may not elect to delay commencement of distribution of his/her Vested Account
Balance beyond the later of attainment of age 62 or Normal Retirement Age. [Note: If
the Employer does not elect (j), the Plan permits a Participant who has Separated
from Service to delay distribution until his/her required beginning date. See Plan
Section 6.01(A)(2).] 

Participant elections prior to
Separation from Service.   A Participant, prior to Separation from Service may elect any
of the following distribution options in accordance with Plan Section 6.01(C). (Choose
(k) or choose one or more of (l) through (o) as applicable). [Note: If the Employer
elects any in-service distributions option, a Participant may elect to receive one
in-service distribution per Plan Year unless the Plan’s in-service distribution form
provides for more frequent in-service distributions.] 

	[   ] 	
 (k)      None.   A Participant does not have any distribution option
prior to Separation from Service, except as may be provided under Plan Section 6.01(C). 

	[X] 	                    (l)     
Deferral contributions.   Distribution of all or any portion (as
                    permitted by the Plan) of a Participant’s Account Balance
attributable to                     deferral contributions if: (Choose one or more of
(1), (2) or (3) as                     applicable)

	 	[X]	               (1)     
Hardship (safe harbor hardship rule).   The Participant has incurred a
               hardship in accordance with Plan Sections 6.09 and 14.11(A). 

	 	[X]	(2)     
Age.   The Participant has attained age       59
          1/2       (Must be at least age 59
          1/2). 

	 	[X]	(3)     
Disability.   The Participant has incurred a Disability. 

	[X] 	                    (m)     
Qualified nonelective contributions/qualified matching contributions/safe
                    harbor contributions.   Distribution of all or
any portion of a                     Participant’s Account Balance attributable to
qualified nonelective                     contributions, to qualified matching
contributions, or to 401(k) safe harbor                     contributions if: (Choose
(1) or (2) or both as applicable)

	 	[X]	(1)     
Age.   The Participant has attained age       59
          1/2        (Must be at least age 59
          1/2). 

16

	 	[X]	(2)     
Disability.   The Participant has incurred a Disability. 

	[X] 	                    (n)     
Nonelective contributions/regular matching contributions.   Distribution
of all or any portion of a Participant’s Vested Account                     Balance
attributable to nonelective contributions or to regular matching
                    contributions if: (Choose one or more of (1) through (5) as
applicable)

	 	[X]	(1)     
Age/Service conditions.   (Choose one or more of a. through d. as
          applicable): 

	 	[X]	a.     
Age.   The Participant has attained age       59
          1/2      .  

	 	[   ] 	
b.      Two-year allocations.   The Plan Administrator has allocated the
contributions to be distributed for a period of not less than              Plan
Years before the distribution date.  [Note: The minimum number of years is 2.]  

	 	[   ]	
 c.      Five years of participation.   The Participant has participated
in the Plan for at least              Plan
Years. [Note: The minimum number of years is 5.]  

	 	[X]	               d.     
Vested.   The Participant is       100      %
               Vested in his/her Account Balance. See Plan Section 5.03(A).   [Note:If
               an Employer makes more than one election under Section 6.01(n)(1),
a                Participant must satisfy all conditions before the Participant is eligible
for the distribution. 

	 	     [   ]	
(2)      Hardship.   The Participant has incurred a hardship in accordance with Plan Section
6.09. 

	 	[X]	               (3)     
Hardship (safe harbor hardship rule).   The Participant has incurred a
               hardship in accordance with Plan Sections 6.09 and 14.11(A). 

	 	     [   ]	
(4)      Disability.   The Participant has incurred a Disability. 

	 	[   ] 	
(5)      Designated condition.   The Participant has satisfied the
following condition(s):             .
[Note: Any designated condition(s) must be the same for all Participants, be
definitely determinable and not discriminate in favor of Highly Compensated
Employees.] 

	[X] 	 (o)     
Participant contributions.   Distribution of all or any portion of a
Participant’s Account Balance attributable to the following
Participant contributions described in Plan Section 4.01:  (Choose
one of (1), (2) or (3)) 

	 	[X]	(1)     
All Participant contributions.

	 	[   ]	
(2)      Employee contributions only. 

	 	[   ]	
(3)      Rollover contributions only. 

Participant loan
default/offset.   See Section 6.08 of the Plan. 

     26.     
          DISTRIBUTION METHOD  (6.03).   A separated Participant whose Vested
          Account Balance exceeds $5,000 may elect distribution under one of the following
          method(s) of distribution described in Plan Section 6.03: (Choose one or more
          of (a) through (d) as applicable) 

	[X] 	(a)     
Lump sum.

17

	[   ] 	
(b)      Installments. 

	[X] 	(c)     
Installments for required minimum distributions only.

	[   ] 	
   (d)       Annuity distribution option(s): ________.  
[Note: Any optional
method of distribution may not be subject to Employer, Plan Administrator or
Trustee discretion.] 

27.      JOINT AND SURVIVOR ANNUITY
REQUIREMENTS (6.04).   The joint and                     survivor
annuity distribution requirements of Plan Section 6.04:  (Choose one
                    of (a) or (b)) 

	[X]  	                   (a)     
Profit sharing plan exception.   Do not apply to a Participant, unless
                    the Participant is a Participant described in Section 6.04(H) of the
Plan. 

	[   ] 	
(b)      Applicable.   Apply to all Participants. 

ARTICLE IX 
PLAN ADMINISTRATOR
— DUTIES WITH RESPECT TO PARTICIPANTS’ ACCOUNTS 

28.      ALLOCATION OF NET INCOME,
GAIN OR LOSS (9.08).   For each type of
                    contribution provided under the Plan, the Plan allocates net income,
gain or                     loss using the following method: (Choose one or more of
(a) through (e) as                     applicable) 

	[X] 	                    (a)     
Deferral contributions/Employee contributions.   (Choose one or more
                    of (1) through (5) as applicable)

	 	[X]	               (1)     
Daily valuation method.   Allocate on each business day of the Plan
               Year during which Plan assets for which there is an established market are
               valued and the Trustee is conducting business. 

	 	     [   ]	
(2)      Balance forward method.   Allocate using the balance forward method. 

	 	     [   ]	
(3)      Weighted average method. Allocate using the weighted average method, based on the
following weighting period: ________. See Plan Section 14.12. 

	 	[   ]	
 (4)      Balance forward method with adjustment.   Allocate pursuant to
the balance forward method, except treat as part of the relevant Account at the beginning
of the valuation period         % of the
contributions made during the following valuation period: ________.

	 	     [   ]	
(5)      Individual account method.   Allocate using the individual account method. See Plan
Section 9.08. 

	[X] 	(b)     
Matching contributions.   (Choose one or more of (1) through (5) as
          applicable)

	 	[X]	               (1)     
Daily valuation method.   Allocate on each business day of the Plan
               Year during which Plan assets for which there is an established market are
               valued and the Trustee is conducting business. 

	 	     [   ]	
(2)      Balance forward method.   Allocate using the balance forward method. 

	 	     [   ]	
(3)      Weighted average method.   Allocate using the weighted average method, based on the
following weighting period: ________. See Plan Section 14.12. 

	 	[   ]	
 (4)      Balance forward method with adjustment.   Allocate pursuant to
the balance forward method, except treat as part of the relevant Account at the beginning
of the valuation period         % of the
contributions made during the following valuation period: 

18

	 	     [   ]	
(5)      Individual account method.   Allocate using the individual account method. See Plan
Section 9.08. 

	[X] 	(c)     
Employer nonelective contributions.   (Choose one or more of (1)
          through (5) as applicable)

	 	[X]	               (1)     
Daily valuation method.   Allocate on each business day of the Plan
               Year during which Plan assets for which there is an established market are
               valued and the Trustee is conducting business. 

	 	     [   ]	
(2)      Balance forward method.   Allocate using the balance forward method. 

	 	     [   ]	
(3)      Weighted average method.   Allocate using the weighted average method, based on the
following weighting period: ________. See Plan Section 14.12. 

	 	[   ]	
 (4)      Balance forward method with adjustment.   Allocate pursuant to
the balance forward method, except treat as part of the relevant Account at the beginning
of the valuation period         % of the
contributions made during the following valuation period: ________.

	 	     [   ]	
(5)      Individual account method.   Allocate using the individual account method. See Plan
Section 9.08. 

	[   ] 	
(d)      Specified method.   Allocate pursuant to the following method: ________.

[Note: The specified method must be a definite predetermined formula which is
not based on Compensation, which satisfies the nondiscrimination requirements of
Treas. Reg.ss.1.401(a)(4) and which is applied uniformly to all Participants.]  

	[   ] 	
 (e)      Interest rate factor.   In accordance with Plan Section
9.08(E), the Plan includes interest at the following rate on distributions made more than
90 days after the most recent valuation date:             . 

ARTICLE X 
TRUSTEE AND
CUSTODIAN, POWERS AND DUTIES 

29.      INVESTMENT POWERS (10.03).
  The following additional investment                     options or
limitations apply under Plan Section 10.03:       N/A       .
                    [Note: Enter “N/A” if not applicable.]  

30.      VALUATION OF TRUST (10.15).
  In addition to the last day of the                     Plan Year, the Trustee
must value the Trust Fund on the following valuation                     date(s): (Choose
one of (a) through (d)) 

	[X] 	                    (a)     
Daily valuation dates.   Each business day of the Plan Year on which
                    Plan assets for which there is an established market are valued and
the Trustee                     is conducting business. 

	[   ] 	
   (b)       Last day of a specified period. The last day of each ________ of the Plan
Year.

	[   ] 	
(c)      Specified dates:   ________. 

	[   ] 	
(d)      No additional valuation dates. 

19

Execution Page 

        The
Trustee (and Custodian, if applicable), by executing this Adoption Agreement, accepts its
position and agrees to all of the obligations, responsibilities and duties imposed upon
the Trustee (or Custodian) under the Prototype Plan and Trust. The Employer hereby agrees
to the provisions of this Plan and Trust, and in witness of its agreement, the Employer by
its duly authorized officers, has executed this Adoption Agreement, and the Trustee (and
Custodian, if applicable) has signified its acceptance, on:   ________________________________________________________ . 

		Name of Employer:  Regency Centers Corporation	
		 	
		Employer's EIN:  59-3191743	
		 	
		Signed: _________________________________________________________________
		______________________________________
		[Name/Title]
		
Name(s) of Trustee:
		                    Wells Fargo Bank, N.A.
		 	
		
Trust EIN (Optional):
		___________________________________________
		Signed: _________________________________________________________________
		______________________________________
		[Name/Title]
		
Name of Custodian (Optional):
		___________________________________________
		Signed: _________________________________________________________________
		______________________________________
		[Name/Title]

     31.     
          Plan Number.   The 3-digit plan number the Employer assigns to this Plan
          for ERISA reporting purposes (Form 5500 Series) is:
                 001    . 

Use of Adoption Agreement.
  Failure to complete properly the elections in this Adoption Agreement may result in
disqualification of the Employer’s Plan. The Employer only may use this Adoption
Agreement in conjunction with the basic plan document referenced by its document number on
Adoption Agreement page one. 

Execution for Page Substitution
Amendment Only.   If this paragraph is completed, this Execution Page
documents an amendment to Adoption Agreement Section(s)              effective
            , by
substitute Adoption Agreement page number(s)             . 

Prototype Plan Sponsor.   The
Prototype Plan Sponsor identified on the first page of the basic plan document will
notify all adopting employers of any amendment of this Prototype Plan or of any
abandonment or discontinuance by the Prototype Plan Sponsor of its maintenance of this
Prototype Plan. For inquiries regarding the adoption of the Prototype Plan, the Prototype
Plan Sponsor’s intended meaning of any Plan provisions or the effect of the opinion
letter issued to the Prototype Plan Sponsor, please contact the Prototype Plan Sponsor at
the following address and telephone number:   505 Main Street, Fort Worth,
Texas, 76102,  (817) 334-7073 . 

20

Reliance on Sponsor Opinion
Letter.   The Prototype Plan Sponsor has obtained from the IRS an opinion
letter specifying the form of this Adoption Agreement and the basic plan document
satisfy, as of the date of the opinion letter, Code §401. An adopting Employer may
rely on the Prototype Sponsor’s IRS opinion letter only to the extent
provided in Announcement 2001-77, 2001-30 I.R.B. The Employer may not rely on the opinion
letter in certain other circumstances or with respect to certain qualification
requirements, which are specified in the opinion letter and in Announcement 2001-77. In
order to have reliance in such circumstances or with respect to such qualification
requirements, the Employer must apply for a determination letter to Employee Plans
Determinations of the Internal Revenue Service.  

21

PARTICIPATION AGREEMENT 

[X]  Check
here if not applicable and do not complete this page. 

        The
undersigned Employer, by executing this Participation Agreement, elects to become a
Participating Employer in the Plan identified in Section 1.21 of the accompanying Adoption
Agreement, as if the Participating Employer were a signatory to that Adoption Agreement.
The Participating Employer accepts, and agrees to be bound by, all of the elections
granted under the provisions of the Prototype Plan as made by the Signatory Employer to
the Execution Page of the Adoption Agreement, except as otherwise provided in this
Participation Agreement. 

     32.     
          EFFECTIVE DATE  (1.10).   The Effective Date of the Plan for the
          Participating Employer is:      . 

     33.     
          NEW PLAN/RESTATEMENT.  The Participating Employer’s adoption of this
          Plan constitutes: (Choose one of (a) or (b)) 

	[   ] 	
   (a)       The adoption of a new plan by the Participating Employer.

	[   ] 	
   (b)       The adoption of an amendment and restatement of a plan currently maintained by
the          Participating Employer, identified as:____________________________________________________________________________________,
and having
an original effective date of: ___________________________________________________.

     34.     
          PREDECESSOR EMPLOYER SERVICE  (1.30).   In addition to the
          predecessor service credited by reason of Section 1.30 of the Plan, the Plan
          credits as Service under this Plan, service with this Participating Employer.
          (Choose one or more of (a) through (d) as applicable): [Note: If the
          Plan does not credit any additional predecessor service under Section 1.30 for
          this Participating Employer, do not complete this election.] 

	[   ] 	
(a)       Eligibility.   For eligibility under Article II. See Plan Section 1.30 for time of
Plan entry. 

	[   ] 	
(b)       Vesting.   For vesting under Article V. 

	[   ] 	
(c)      Contribution allocation.   For contribution allocations under Article III. 

	[   ] 	
(d)      Exceptions.   Except for the following Service: ________. 

	Name of Plan:	Name of Participating Employer:
	________________________________________	_____________________________________________________________________
		
Signed: ___________________________________________________________________________
		[Name/Title]
		___________________________________________________________________________
		[Date]
		Participating Employer's EIN: ______________

22

Acceptance by the Signatory
Employer to the Execution Page of the Adoption Agreement and by the Trustee. 

	Name of Signatory Employer:	Name(s) of Trustee:
	____________________________________________	____________________________________________
	____________________________________________	____________________________________________
	[Name/Title]	[Name/Title]
	
Signed: ____________________________________________	Signed: ____________________________________________
		
	____________________________________________	____________________________________________
	[Date]	[Date]

[Note: Each Participating Employer
must execute a separate Participation Agreement. If the Plan does not have a Participating
Employer, the Signatory Employer may delete this page from the Adoption Agreement.] 

23

APPENDIX A 
TESTING ELECTIONS/EFFECTIVE
DATE ADDENDUM 

     35.     
          The following testing elections and special effective dates apply: (Choose
          one or more of (a) through (n) as applicable) 

	[   ]  	
(a)      Highly Compensated Employee  (1.14).   For Plan Years beginning
after             ,
the Employer makes the following election(s) regarding the definition of Highly
Compensated Employee: 

	 	(1)	[   ]   Top
paid group election. 

	 	(2)	[   ]   Calendar
year data election (fiscal year plan). 

	[X] 	                    (b)     
401(k) current year testing.   The Employer will apply the current year
                    testing method in applying the ADP and ACP tests effective for Plan
Years                     beginning after:       December
31, 1998      . [Note: For Plan Years
                    beginning on or after the Employer’s executionof its
                    “GUST”restatement, the Employer must use the same
testing                     method within the same Plan Year for both the ADP and
ACP tests.] 

	[   ] 	
(c)      Compensation.   The Compensation definition under Section 1.07 will apply for Plan
Years beginning after: ________. 

	[   ] 	
(d)      Election not to participate.   The election not to participate under Section 2.06
is effective: ________. 

	[   ] 	
(e)      401(k) safe harbor.   The 401(k) safe harbor provisions under Section 3.01(d) are
effective: ________. 

	[   ] 	
(f)      Negative election.   The negative election provision under Section 3.02(b) is
effective: ________. 

	[   ] 	
(g)      Contribution/allocation formula.   The specified contribution(s) and allocation
method(s) under Sections 3.01 and 3.04 are effective: _____. 

	[   ] 	
(h)      Allocation conditions.   The allocation conditions of Section 3.06 are effective:
________. 

	[   ] 	
(i)      Benefit payment elections.   The distribution elections of Section(s)
are effective: ________. 

	[   ]  	
(j)      Election to continue pre-SBJPA required beginning date.   A
Participant may not elect to defer commencement of the distribution of his/her Vested
Account Balance beyond the April 1 following the calendar year in which the Participant
attains age 70 1/2. See Plan Section 6.02(A). 

	[   ] 	
 (k)      Elimination of age 70 1/2 in-service distributions.   The Plan
eliminates a Participant’s (other than a more than 5% owner) right to receive
in-service distributions on April 1 of the calendar year following the year in which the
Participant attains age 70 1/2 for Plan Years beginning after:             . 

	[   ] 	
(l)      Allocation of earnings.   The earnings allocation provisions under Section 9.08 are
effective: ________. 

	[   ] 	
(m)      Elimination of optional forms of benefit.   The Employer elects prospectively to
eliminate the following optional forms of benefit: (Choose one or more of (1),
(2) and (3) as applicable)  

	 	[   ] 	
(1)      QJSA and QPSA benefits as described in Plan Sections 6.04, 6.05 and 6.06
effective:             . 

	 	     [   ]	
   (2)      Installment distributions as described in Section 6.03 effective:  ________.

	 	     [   ]	
(3)      Other optional forms of benefit (Any election to eliminate must be consistent with
Treas. Reg.ss.1.411(d)-4): ________. 

	[   ] 	
(n)      Special effective date(s):   ________. 

        For
periods prior to the above-specified special effective date(s), the Plan terms in effect
prior to its restatement under this Adoption Agreement will control for purposes of the
designated provisions. A special effective date may not result in the delay of a Plan
provision beyond the permissible effective date under any applicable law. 

24

APPENDIX B 
GUST Remedial
Amendment Period Elections

     36.     
          The following GUST restatement elections apply: (Choose one or more of (a)
          through (j) as applicable) 

	[   ] 	
 (a)      Highly Compensated Employee elections.   The Employer makes the
following remedial amendment period elections with respect to the Highly Compensated
Employee definition: 

	(1)   1997:	[   ]	Top paid group election.	[   ]	Calendar year election.
		[   ]	Calendar year data election.
	(2)   1998:	[   ]	Top paid group election.	[   ]	Calendar year data election.
	(3)   1999:	[   ]	Top paid group election.	[   ]	Calendar year data election.
	(4)   2000:	[   ]	Top paid group election.	[   ]	Calendar year data election.
	(5)   2001:	[   ]	Top paid group election.	[   ]	Calendar year data election.
	(6)   2002:	[   ]	Top paid group election.	[   ]	Calendar year data election.

	[   ]  	
(b)      401(k) testing methods.   The Employer makes the following
remedial amendment period elections with respect to the ADP test and the ACP test: [Note:
The Employer may use a different testing method for the ADP and ACP tests through
the endof the Plan Year in which the Employer executes its GUST restated
Plan.] 

	ADP test	ACP test
	(1)   1997:     [   ]	prior year	[   ]	current year	1997:    [   ]	prior year	[   ]	current year
	(2)   1998:     [   ]	prior year	[   ]	current year	1998:    [   ]	prior year	[   ]	current year
	(3)   1999:     [   ]	prior year	[   ]	current year	1999:    [   ]	prior year	[   ]	current year
	(4)   2000:     [   ]	prior year	[   ]	current year	2000:    [   ]	prior year	[   ]	current year
	(5)   2001:     [   ]	prior year	[   ]	current year	2001:    [   ]	prior year	[   ]	current year
	(6)   2002:     [   ]	prior year	[   ]	current year	2002:    [   ]	prior year	[   ]	current year

	[   ]  	
(c)      Delayed application of SBJPA required beginning date.   The
Employer elects to delay the effective date for the required beginning date provision of
Plan Section 6.02 until Plan Years beginning after:             . 

	[   ]  	
(d)      Model Amendment for required minimum distributions.   The
Employer adopts the IRS Model Amendment in Plan Section 6.02(E) effective             .
[Note:The date must not be earlier than January 1, 2001.] 

Defined Benefit
Limitation 

	[   ] 	
 (e)      Code §415(e) repeal.   The repeal of the Code §415(e)
limitation is effective for Limitation Years beginning after             .
[Note: If the Employer does not make an election under (e), the repeal is
effective for Limitation Years beginning after December 31, 1999.] 

25

Code §415(e) limitation.
  To the extent necessary to satisfy the limitation under Plan Section 3.17 for Limitation
Years beginning prior to the repeal of Code §415(e), the Employer will reduce:
(Choose one of (f) or (g)) 

	[   ] 	
   (f)       The Participant's projected annual benefit under the defined benefit plan.

	[   ]  	
(g)      The Employer’s contribution or allocation on behalf of the Participant to
the defined contribution plan and then, if necessary, the Participant’s projected
annual benefit under the defined benefit plan. 

Coordination with top-heavy
minimum allocation.   The Plan Administrator will apply the top-heavy minimum allocation
provisions of Article XII with the following modifications: (Choose (h) or choose (i)
or (j) or both as applicable) 

	[   ] 	
   (h)       No modifications.

	[   ]  	
(i)      For Non-Key Employees participating only in this Plan, the top-heavy minimum
allocation is the minimum allocation determined by substituting         %
(not less than 4%) for “3%,” except: (Choose one of (1) or (2))

	 	     [   ]	   (1)
     No exceptions. 

	 	[   ]	
   (2)      Plan Years in which the top-heavy ratio exceeds 90%.

	[   ] 	
(j)      For Non-Key Employees also participating in the defined
benefit plan, the top-heavy minimum is: (Choose one of (1) or (2))

	 	[   ]	
(1)      5% of Compensation irrespective of the contribution rate of any Key Employee: (Choose
one of a. or b.) 

	 	[   ]	
a.      No exceptions. 

	 	[   ]	
b.      Substituting "7 1/2%" for "5%" if the top-heavy ratio does not exceed 90%. 

	 	[   ]	
(2)      0%. [Note: The defined benefit plan must satisfy the top-heavy minimum benefit requirement
for these Non-Key Employees.]  

Actuarial assumptions for
top-heavy calculation.   To determine the top-heavy ratio, the Plan Administrator will
use the following interest rate and mortality assumptions to value accrued benefits under
a defined benefit plan:
            . 

26

CHECKLIST OF EMPLOYER
INFORMATION 
AND EMPLOYER ADMINISTRATIVE ELECTIONS 

Commencing with the
___________ Plan Year 

        The
Prototype Plan permits the Employer to make certain administrative elections not reflected
in the Adoption Agreement. This form lists those administrative elections and provides a
means of recording the Employer’s elections. This checklist is not part of the
Plan document. 

37.     Employer
Information. 

	 	
Regency
Centers Corporation  
 [Employer
Name]

	 	
121
W. Forsyth Street, Suite 200   
[Address] 

	           Jacksonville, Florida 32202      	     (904) 598-7606      
	          [City, State and Zip Code]	     [Telephone Number]

     38.     
          Form of Business. 

	               (a)     [X]	Corporation	(b)    [   ]          S Corporation	 
	               (c)     [   ]	Limited Liability Company	(d)    [   ]          Sole Proprietorship
	               (e)     [   ]	Partnership	(f)     [   ]         ________	

39.      Section 1.07(F)   —   Nondiscriminatory
definition of                Compensation.   When testing nondiscrimination
under the Plan, the Plan                permits the Employer to make elections regarding
the definition of Compensation.                [Note: This election solely is for
purposes of nondiscrimination testing. The election does not affect the Employer’s
elections under Section                1.07 which apply for purposes of allocating
Employer contributions and                Participant forfeitures.]  

	 	(a)	[X]      The
Plan will “gross up” Compensation for Elective           Contributions. 

	 	(b)	[   ]      The
Plan will exclude Elective Contributions. 

     40.     
          Section 4.04 — Rollover contributions.  40 

	 	(a)	[X]      The
Plan accepts rollover contributions. 

	 	(b)	[   ]      The
Plan does not accept rollover contributions. 

41.      Section 8.06 — Participant
direction of investment/404(c).   The Plan                authorizes
Participant direction of investment with Trustee consent. If the                Trustee
permits Participant direction of investment, the Employer and the                Trustee
should adopt a policy which establishes the applicable conditions and
               limitations, including whether they intend the Plan to comply with ERISA
               §404(c).  

	 	(a)	[X]      The
Plan permits Participant direction of investment and is a 404(c)           plan. 

	 	(b)	[   ]      The
Plan does not permit Participant direction of investment           or is a
non-404(c) plan. 

42.      Section 9.04[A] — Participant
loans.   The Plan authorizes the Plan                Administrator to adopt
a written loan policy to permit Participant loans.  

	 	(a) 	[X]      The
Plan permits Participant loans subject to the following                conditions: 

	 	(1) 	[X]      Minimum
loan amount:                $  1,000      . 

	 	(2) 	[X]                    Maximum
number of outstanding loans:        one
               (1)      .  

27 

	 	(3) 	[X]      Reasons
for which a                Participant may request a loan:  

	 	a. 	[X]      Any
purpose.  

	 	b. 	[   ]      Hardship
events.  

	 	c. 	[   ]      Other:
             .  

	 	(4) 	[X]      Suspension of loan repayments:

	 	a. 	[   ]      Not
permitted.  

	 	b. 	[X]      Permitted
for non-military leave of absence.  

	 	c. 	[X]      Permitted
          for military service leave of absence.  

	 	(5)	[X]      The
Participant must be a party in interest.  

	 	(b)	[   ]      The
Plan does not permit Participant loans. 

43.      Section 11.01 — Life
insurance.   The Plan with Employer approval                authorizes the
Trustee to acquire life insurance.  

	 	(a)	[   ]      The
Plan will invest in life insurance contracts. 

	 	(b)	[X]      The
Plan will not invest in life insurance contracts. 

     44.     
          Surety bond company:
                  Hartford       .
          Surety bond amount:
           $  5,000,000         

28 

EGTRRA 
AMENDMENT TO THE

REGENCY CENTERS 401(K)
PROFIT SHARING PLAN 

EGTRRA — Sponsor 

ARTICLE I 
PREAMBLE

	1.1  	Adoption
and effective date of amendment. This amendment of the plan is adopted to reflect
certain provisions of the Economic Growth and Tax Relief Reconciliation Act of 2001 (“EGTRRA”).
This amendment is intended as good faith compliance with the requirements of EGTRRA and
is to be construed in accordance with EGTRRA and guidance issued thereunder. Except as
otherwise provided, this amendment shall be effective as of the first day of the first
plan year beginning after December 31, 2001. 

	1.2  	Adoption
by prototype sponsor. Except as otherwise provided herein, pursuant to Section 5.01
of Revenue Procedure 2000-20 (or pursuant to the corresponding provision in Revenue
Procedure 89-9 or Revenue Procedure 89-13), the sponsor hereby adopts this amendment on
behalf of all adopting employers. 

	1.3  	Supersession
of inconsistent provisions. This amendment shall supersede the provisions of the plan
to the extent those provisions are inconsistent with the provisions of this amendment. 

ARTICLE II 
ADOPTION AGREEMENT
ELECTIONS 

     

	 	
The
questions in this Article II only need to be completed in order to override the default
provisions set forth below. If all of the default provisions will apply, then
these questions should be skipped. 

	 	
Unless
the employer elects otherwise in this Article II, the following defaults apply: 

	 	1) 	The
vesting schedule for matching contributions will be a 6 year graded
               schedule (if the plan currently has a graded schedule that does not
               satisfy EGTRRA) or a 3 year cliff schedule (if the plan currently
has a                cliff schedule that does not satisfy EGTRRA), and such schedule
will                apply to all matching contributions (even those made prior to 2002).

	 	2) 	Rollovers
are automatically excluded in determining whether the $5,000                threshold has
been exceeded for automatic cash-outs (if the plan is not                subject
to the qualified joint and survivor annuity rules and provides                for
automatic cash-outs). This is applied to all participants regardless
               of when the distributable event occurred.

	 	3) 	The
suspension period after a hardship distribution is made will be 6                months
and this will only apply to hardship distributions made after                2001.

	 	4) 	Catch-up
contributions will be allowed.

	 	5) 	For
target benefit plans, the increased compensation limit of $200,000                will be
applied retroactively (i.e., to years prior to 2002).

     

	2.1  	Vesting
Schedule for Matching Contributions  

	 	
If
there are matching contributions subject to a vesting schedule that does not satisfy
EGTRRA, then unless otherwise elected below, for participants who complete an hour of
service in a plan year beginning after December 31, 2001, the following vesting schedule
will apply to all matching contributions subject to a vesting schedule:  

	 	
If
the plan has a graded vesting schedule (i.e., the vesting schedule includes a vested
percentage that is more than 0% and less than 100%) the following will apply:  

	                                        Years of vesting service	Nonforfeitable percentage
	
2	 	20	%
	3	 	40	%
	4	 	60	%
	5	 	80	%
	6	 	100	%

1 

	 	
If
the plan does not have a graded vesting schedule, then matching contributions will be
nonforfeitable upon the completion of 3 years of vesting service.  

In
lieu of the above vesting schedule, the employer elects the following schedule: 

	 	a. 	[   ]     
3 year cliff (a participant’s accrued benefit derived from employer
               matching contributions shall be nonforfeitable upon the participant’s
               completion of three years of vesting service). 

	 	b. 	[   ]     
6 year graded schedule (20% after 2 years of vesting service and an
               additional 20% for each year thereafter). 

	 	c. 	[   ]     
Other (must be at least as liberal as a. or the b. above): 

        ©
Copyright 2001 Wells Fargo Bank, N.A. 

	                                        Years of vesting service	Nonforfeitable percentage
	
________	 	________	%
	________	 	________	%
	________	 	________	%
	________	 	________	%
	________	 	________	%

	 	
The
vesting schedule set forth herein shall only apply to participants who complete an hour
of service in a plan year beginning after December 31, 2001, and, unless the option below
is elected, shall apply to all matching contributions subject to a vesting
schedule. 

	 	d. 	[   ]     
The vesting schedule will only apply to matching contributions made in plan years beginning
after December 31, 2001 (the prior schedule will apply to matching contributions made in
prior plan years).

	2.2  	Exclusion
of Rollovers in Application of Involuntary Cash-out Provisions (for profit sharing and
401(k) plans only).   If the plan is not subject to the qualified joint and
survivor annuity rules and includes involuntary cash-out provisions, then unless one of
the options below is elected, effective for distributions made after December 31, 2001,
rollover contributions will be excluded in determining the value of the participant’s
nonforfeitable account balance for purposes of the plan’s involuntary cash-out
rules. 

	 	a. 	[   ]     
Rollover contributions will not be excluded. 

	 	b. 	[   ]     
Rollover contributions will be excluded only with respect to distributions
               made after             .
               (Enter a date no earlier than December 31, 2001.) 

	 	c. 	[   ]     
Rollover contributions will only be excluded with respect to participants
               who separated from service after             .
               (Enter a date. The date may be earlier than December 31, 2001.) 

	2.3  	Suspension
period of hardship distributions.   If the plan provides for hardship
distributions upon satisfaction of the safe harbor (deemed) standards as set forth in
Treas. Reg. Section 1.401(k)-1(d)(2)(iv), then, unless the option below is elected, the
suspension period following a hardship distribution shall only apply to hardship
distributions made after December 31, 2001. 

	 	[   ]	
With regard to hardship distributions made during 2001, a participant shall be prohibited
from making elective deferrals and employee contributions under this and all other plans
until the later of January 1, 2002, or 6 months after receipt of the distribution.

	2.4  	Catch-up
contributions (for 401(k) profit sharing plans only):   The plan permits
catch-up contributions (Article VI) unless the option below is elected. 

	 	[   ]	
 The plan does not permit catch-up contributions to be made. 

	2.5  	For
target benefit plans only:   The increased compensation limit ($200,000
limit) shall apply to years prior to 2002 unless the option below is elected. 

	 	[   ]	
 The increased compensation limit will not apply to years prior to 2002. 

2 

ARTICLE III 
VESTING OF
MATCHING CONTRIBUTIONS 

	3.1  	Applicability.
This Article shall apply to participants who complete an Hour of Service after December
31, 2001, with respect to accrued benefits derived from employer matching contributions
made in plan years beginning after December 31, 2001. Unless otherwise elected by the
employer in Section 2.1 above, this Article shall also apply to all such participants
with respect to accrued benefits derived from employer matching contributions made in
plan years beginning prior to January 1, 2002. 

	3.2  	Vesting
schedule. A participant’s accrued benefit derived from employer matching
contributions shall vest as provided in Section 2.1 of this amendment. 

ARTICLE IV

INVOLUNTARY CASH-OUTS 

	4.1  	Applicability
and effective date. If the plan provides for involuntary cash-outs of amounts less
than $5,000, then unless otherwise elected in Section 2.2 of this amendment, this Article
shall apply for distributions made after December 31, 2001, and shall apply to all
participants. However, regardless of the preceding, this Article shall not apply if the
plan is subject to the qualified joint and survivor annuity requirements of Sections
401(a)(11) and 417 of the Code. 

	4.2  	Rollovers
disregarded in determining value of account balance for involuntary distributions.
For purposes of the Sections of the plan that provide for the involuntary distribution of
vested accrued benefits of $5,000 or less, the value of a participant’s
nonforfeitable account balance shall be determined without regard to that portion of the
account balance that is attributable to rollover contributions (and earnings allocable
thereto) within the meaning of Sections 402(c), 403(a)(4), 403(b)(8), 408(d)(3)(A)(ii),
and 457(e)(16) of the Code. If the value of the participant’s nonforfeitable account
balance as so determined is $5,000 or less, then the plan shall immediately distribute
the participant’s entire nonforfeitable account balance. 

ARTICLE V 
HARDSHIP DISTRIBUTIONS 

	5.1  	Applicability
and effective date. If the plan provides for hardship distributions upon
         satisfaction of the safe harbor (deemed) standards as set forth in Treas. Reg.
Section          1.401(k)-1(d)(2)(iv), then this Article shall apply for calendar years
beginning after 2001.

	5.2  	Suspension
period following hardship distribution. A participant who receives a distribution of
elective deferrals after December 31, 2001, on account of hardship shall be prohibited
from making elective deferrals and employee contributions under this and all other plans
of the employer for 6 months after receipt of the distribution. Furthermore, if elected
by the employer in Section 2.3 of this amendment, a participant who receives a
distribution of elective deferrals in calendar year 2001 on account of hardship shall be
prohibited from making elective deferrals and employee contributions under this and all
other plans until the later of January 1, 2002, or 6 months after receipt of the
distribution. 

ARTICLE VI 
CATCH-UP CONTRIBUTIONS 

Catch-up Contributions. Unless
otherwise elected in Section 2.4 of this amendment, all employees who are eligible to make
elective deferrals under this plan and who have attained age 50 before the close of the
plan year shall be eligible to make catch-up contributions in accordance with, and subject
to the limitations of, Section 414(v) of the Code. Such catch-up contributions shall not
be taken into account for purposes of the provisions of the plan implementing the required
limitations of Sections 402(g) and 415 of the Code. The plan shall not be treated as
failing to satisfy the provisions of the plan implementing the requirements of Section
401(k)(3), 401(k)(11), 401(k)(12), 410(b), or 416 of the Code, as applicable, by reason of
the making of such catch-up contributions. 

3 

ARTICLE VII

INCREASE IN COMPENSATION LIMIT 

Increase in Compensation
Limit. The annual compensation of each participant taken into account in determining
allocations 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. Annual compensation 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). If this is a target benefit plan, then except
as otherwise elected in Section 2.5 of this amendment, for purposes of determining benefit
accruals in a plan year beginning after December 31, 2001, compensation for any prior
determination period shall be limited to $200,000. The cost-of-living adjustment in effect
for a calendar year applies to annual compensation for the determination period that
begins with or within such calendar year. 

ARTICLE VIII 
PLAN LOANS 

Plan loans for owner-employees or
shareholder-employees. If the plan permits loans to be made to participants, then
effective for plan loans made after December 31, 2001, plan provisions prohibiting loans
to any owner-employee or shareholder-employee shall cease to apply. 

ARTICLE IX 
LIMITATIONS ON
CONTRIBUTIONS (IRC SECTION 415 LIMITS)

	9.1  	Effective
date. This Section shall be effective for limitation years beginning after December
         31, 2001.

	9.2  	Maximum
annual addition. Except to the extent permitted under Article VI of this amendment
and Section 414(v) of the Code, if applicable, the annual addition that may be
contributed or allocated to a participant’s account under the plan for any
limitation year shall not exceed the lesser of: 

	 	a. 	$40,000,
as adjusted for increases in the cost-of-living under Section 415(d) of
               the Code, or 

	 	b. 	100
percent of the participant’s compensation, within the meaning of
               Section 415(c)(3) of the Code, for the limitation year. 

	 	
The
compensation limit referred to in b. shall not apply to any contribution for medical
benefits after separation from service (within the meaning of Section 401(h) or Section
419A(f)(2) of the Code) which is otherwise treated as an annual addition.  

ARTICLE X

MODIFICATION OF TOP-HEAVY RULES 

	10.1  	Effective
date. This Article shall apply for purposes of determining whether the plan is a
top-heavy plan under Section 416(g) of the Code for plan years beginning after December
31, 2001, and whether the plan satisfies the minimum benefits requirements of Section
416(c) of the Code for such years. This Article amends the top-heavy provisions of the
plan. 

	10.2  	Determination
of top-heavy status.

	10.2.1  	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 compensation greater than $130,000 (as adjusted
under Section 416(i)(1) of the Code for plan years beginning after December 31, 2002), a
5-percent owner of the employer, or a 1-percent owner of the employer having annual
compensation of more than $150,000. For this purpose, annual compensation means
compensation within the meaning of Section 415(c)(3) of the Code. The determination of
who is a key employee will be made in accordance with Section 416(i)(1) of the Code and
the applicable regulations and other guidance of general applicability issued thereunder. 

4 

	10.2.2  	Determination
of present values and amounts. This Section 10.2.2 shall apply for purposes of
determining the present values of accrued benefits and the amounts of account balances of
employees as of the determination date. 

	 	a. 	Distributions
during year ending on the determination date. The present                values of
accrued benefits and 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 Section 416(g)(2) of the Code 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 Section 416(g)(2)(A)(i) of
the Code. 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.”

	 	b. 	Employees
not performing services during year ending on the determination                date.
The accrued benefits and 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. 

	10.3  	Minimum
benefits. 

	10.3.1  	Matching
contributions. Employer matching contributions shall be taken into account for
purposes of satisfying the minimum contribution requirements of Section 416(c)(2) of the
Code and the plan. The preceding sentence shall apply with respect to matching
contributions under the plan or, if the plan provides that the minimum contribution
requirement shall be met in another plan, such other plan. Employer matching
contributions that are used to satisfy the minimum contribution requirements shall be
treated as matching contributions for purposes of the actual contribution percentage test
and other requirements of Section 401(m) of the Code. 

	10.3.2  	Contributions
under other plans. The employer may provide, in an addendum to this amendment, that
the minimum benefit requirement shall be met in another plan (including another plan that
consists solely of a cash or deferred arrangement which meets the requirements of Section
401(k)(12) of the Code and matching contributions with respect to which the requirements
of Section 401(m)(11) of the Code are met). The addendum should include the name of the
other plan, the minimum benefit that will be provided under such other plan, and the
employees who will receive the minimum benefit under such other plan. 

ARTICLE XI 
DIRECT ROLLOVERS 

	11.1  	Effective
date. This Article shall apply to distributions made after December 31, 2001.

	11.2  	Modification
of definition of eligible retirement plan. For purposes of the direct rollover
provisions of the plan, an eligible retirement plan shall also mean an annuity contract
described in Section 403(b) of the Code and an eligible plan under Section 457(b) of the
Code 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 Section 414(p) of the Code. 

	11.3  	Modification
of definition of eligible rollover distribution to exclude hardship distributions.
For purposes of the direct rollover provisions of the plan, any amount that is
distributed on account of hardship shall not be an eligible rollover distribution and the
distributee may not elect to have any portion of such a distribution paid directly to an
eligible retirement plan. 

5 

	11.4  	Modification
of definition of eligible rollover distribution to include after-tax employee contributions.
For purposes of the direct rollover provisions in the plan, a portion of a distribution
shall not fail to be an eligible rollover distribution merely because the portion
consists of after-tax employee contributions which are not includible in gross income.
However, such portion may be transferred only to an individual retirement account or
annuity described in Section 408(a) or (b) of the Code, or to a qualified defined
contribution plan described in Section 401(a) or 403(a) of the Code that agrees to
separately account for amounts so transferred, including separately accounting for the
portion of such distribution which is includible in gross income and the portion of such
distribution which is not so includible. 

ARTICLE XII

ROLLOVERS FROM OTHER PLANS 

Rollovers from other plans.
The employer, operationally and on a nondiscriminatory basis, may limit the source of
rollover contributions that may be accepted by this plan. 

ARTICLE XIII 
REPEAL OF
MULTIPLE USE TEST 

Repeal of Multiple Use Test.
The multiple use test described in Treasury Regulation Section 1.401(m)-2 and the plan
shall not apply for plan years beginning after December 31, 2001. 

ARTICLE XIV

ELECTIVE DEFERRALS 

	14.1  	Elective
Deferrals — Contribution Limitation. No participant shall be permitted to have
elective deferrals made under this plan, or any other qualified plan maintained by the
employer during any taxable year, in excess of the dollar limitation contained in Section
402(g) of the Code in effect for such taxable year, except to the extent permitted under
Article VI of this amendment and Section 414(v) of the Code, if applicable. 

	14.2  	Maximum
Salary Reduction Contributions for SIMPLE plans. If this is a SIMPLE 401(k) plan,
then except to the extent permitted under Article VI of this amendment and Section 414(v)
of the Code, if applicable, the maximum salary reduction contribution that can be made to
this plan is the amount determined under Section 408(p)(2)(A)(ii) of the Code for the
calendar year. 

ARTICLE XV 
SAFE HARBOR
PLAN PROVISIONS 

Modification of Top-Heavy
Rules. The top-heavy requirements of Section 416 of the Code and 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 Section 401(k)(12) of the
Code and matching contributions with respect to which the requirements of Section
401(m)(11) of the Code are met. 

ARTICLE XVI

DISTRIBUTION UPON SEVERANCE OF EMPLOYMENT 

	16.1  	Effective
date. This Article shall apply for distributions and transactions made after December
31, 2001, regardless of when the severance of employment occurred. 

	16.2  	New
distributable event. A participant’s elective deferrals, qualified nonelective
contributions, qualified matching contributions, and earnings attributable to these
contributions shall be distributed on account of the participant’s severance from
employment. However, such a distribution shall be subject to the other provisions of the
plan regarding distributions, other than provisions that require a separation from
service before such amounts may be distributed. 

6 

Except with respect to any election
made by the employer in Article II, this amendment is hereby adopted by the prototype
sponsor on behalf of all adopting employers on: 

[Sponsor’s signature and
Adoption Date are on file with Sponsor] 

NOTE: The employer only needs to
execute this amendment if an election has been made in Article II of this amendment. 

This amendment has been executed
this _________________ day of ______________________________, ________. 

Name of Employer:
      Regency Centers
Corporation       

By:
____________________________________________________                   
                    EMPLOYER 

Name of Plan: Regency
Centers 401(k) Profit Sharing Plan 

7 

POST-EGTRRA 
AMENDMENT
TO THE 

REGENCY CENTERS 401(K)
PROFIT SHARING PLAN 

POST-EGTRRA —
Sponsor 

ARTICLE I 
PREAMBLE

	1.1  	Adoption
and effective date of amendment. This amendment of the plan is adopted to reflect
certain provisions of the Economic Growth and Tax Relief Reconciliation Act of 2001 (“EGTRRA”),
the Job Creation and Worker Assistance Act of 2002, IRS Regulations issued pursuant to
IRC §401(a)(9), and other IRS guidance. This amendment is intended as good faith
compliance with the requirements of EGTRRA and is to be construed in accordance with
EGTRRA and guidance issued thereunder. Except as otherwise provided, this amendment shall
be effective as of the first day of the first plan year beginning after December 31,
2001. 

	1.2  	Supersession
of inconsistent provisions. This amendment shall supersede the provisions of the plan
to the extent those provisions are inconsistent with the provisions of this amendment. 

	1.3  	Adoption
by prototype sponsor. Except as otherwise provided herein, pursuant to Section 5.01
of Revenue Procedure 2000-20, the sponsor hereby adopts this amendment on behalf of all
adopting employers. 

ARTICLE II 
ADOPTION AGREEMENT
ELECTIONS 

	 	
The
questions in this Article II only need to be completed in order to override the default
provisions set forth below. If all of the default provisions will apply, then
these questions should be skipped. 

	 	
Unless
the employer elects otherwise in this Article II, the following defaults apply: 

	 	1.	If
catch-up contributions are permitted, then the catch-up contributions are
               treated like any other elective deferrals for purposes of
determining                matching contributions under the plan.

	 	2.	For
plans subject to the qualified joint and survivor annuity rules,                rollovers
are automatically excluded in determining whether the $5,000
               threshold has been exceeded for automatic cash-outs (if the plan
               provides for automatic cash-outs). This is applied to all
participants                regardless of when the distributable event occurred.

	 	3.	The
minimum distribution requirements are effective for distribution calendar
               years beginning with the 2002 calendar year. In addition,
participants                or beneficiaries may elect on an individual basis
whether the 5-year                rule or the life expectancy rule in the plan
applies to distributions                after the death of a participant who has a designated
beneficiary.

	 	4.	Amounts
that are “deemed 125 compensation” are not included in the
               definition of compensation.

	2.1  	Exclusion
of Rollovers in Application of Involuntary Cash-out Provisions.   If the
plan is subject to the joint and survivor annuity rules and includes involuntary cash-out
provisions, then unless one of the options below is elected, effective for distributions
made after December 31, 2001, rollover contributions will be excluded in determining the
value of a participant’s nonforfeitable account balance for purposes of the plan’s
involuntary cash-out rules. 

	 	a. 	[   ]     
Rollover contributions will not be excluded. 

	 	b. 	[   ]     
Rollover contributions will be excluded only with respect to distributions
               made after        (Enter a date no
earlier                than December 31, 2001). 

	 	c. 	[   ]     
Rollover contributions will only be excluded with respect to participants
               who separated from service after       .
               (Enter a date. The date may be earlier than December 31, 2001.) 

	2.2  	Catch-up
contributions (for 401(k) profit sharing plans only):   The plan permits
catch-up contributions effective for calendar years beginning after December 31, 2001,
(Article V) unless otherwise elected below. 

	 	a. 	[   ]      The plan does not permit catch-up contributions to be made. b. [   ] Catch-up
          contributions are permitted effective as of:
                 (enter a date no earlier
than January 1, 2002).

1 

	 	
And, catch-up
contributions will be taken into account in applying any matching contribution under the
Plan unless otherwise elected below.  

	 	c. 	[   ]     
Catch-up contributions will not be taken into account in applying any matching
contribution under the Plan.

	2.3  	Amendment
for Section 401(a)(9) Final and Temporary Treasury Regulations. 

	 	a. 	Effective
date.   Unless a later effective date is specified in below, the
               provisions of Article VI of this amendment will apply for purposes of
               determining required minimum distributions for calendar years beginning
with the                2002 calendar year. 

	 	[   ]	
This amendment applies for purposes of determining required minimum distributions for
distribution calendar years beginning with the 2003 calendar year, as well as required
minimum distributions for the 2002 distribution calendar year that are made on or after
       (leave blank if this amendment does not apply
to any minimum distributions for the 2002 distribution calendar year). 

	 	b.	Election
to not permit Participants or Beneficiaries to Elect 5-Year Rule.

	 	
Unless
elected below, Participants or beneficiaries may elect on an individual basis whether the
5-year rule or the life expectancy rule in Sections 6.2.2 and 6.4.2 of this amendment
applies to distributions after the death of a Participant who has a designated
beneficiary. The election must be made no later than the earlier of September 30 of the
calendar year in which distribution would be required to begin under Section 6.2.2 of
this amendment, or by September 30 of the calendar year which contains the fifth
anniversary of the Participant’s (or, if applicable, surviving spouse’s) death.
If neither the Participant nor beneficiary makes an election under this paragraph,
distributions will be made in accordance with Sections 6.2.2 and 6.4.2 of this amendment
and, if applicable, the elections in Section 2.3.c of this amendment below. 

	 	[   ]	
The provision set forth above in this Section 2.3.b shall not apply. Rather, Sections
6.2.2 and 6.4.2 of this amendment shall apply except as elected in Section 2.3.c of this
amendment below. 

	 	c. 	Election
to Apply 5-Year Rule to Distributions to Designated Beneficiaries.

	 	[   ]	
If the Participant dies before distributions begin and there is a designated beneficiary,
distribution to the designated beneficiary is not required to begin by the date specified
in the Plan, but the Participant’s entire interest will be distributed to the
designated beneficiary by December 31 of the calendar year containing the fifth
anniversary of the Participant’s death. If the Participant’s surviving spouse
is the Participant’s sole designated beneficiary and the surviving spouse dies after
the Participant but before distributions to either the Participant or the surviving
spouse begin, this election will apply as if the surviving spouse were the Participant. 

	 	
If
the above is elected, then this election will apply to:  

	 	1.	[   ]     
All distributions.  

	 	2. 	[   ]     
The following distributions:         .  

	 	d. 	Election
to Allow Designated Beneficiary Receiving Distributions Under 5-Year                Rule
to Elect Life Expectancy Distributions.

	 	[   ]	
A designated beneficiary who is receiving payments under the 5-year rule may make a new
election to receive payments under the life expectancy rule until December 31, 2003,
provided that all amounts that would have been required to be distributed under the life
expectancy rule for all distribution calendar years before 2004 are distributed by the
earlier of December 31, 2003, or the end of the 5-year period. 

2 

	2.4  	Deemed
125 Compensation. Article VII of this amendment shall not apply unless otherwise elected
below.

	 	[   ]	
Article VII of this amendment (Deemed 125 Compensation) shall apply effective as of Plan
Years and Limitation Years beginning on or after          (insert
the later of January 1, 1998, or the first day of the first plan year the Plan used this
definition). 

ARTICLE III

INVOLUNTARY CASH-OUTS 

	3.1  	Applicability
and effective date. If the plan is subject to the qualified joint and survivor
annuity rules and provides for involuntary cash-outs of amounts less than $5,000, then
unless otherwise elected in Section 2.1 of this amendment, this Article shall apply for
distributions made after December 31, 2001, and shall apply to all participants. 

	3.2  	Rollovers
disregarded in determining value of account balance for involuntary distributions.
For purposes of the Sections of the plan that provide for the involuntary distribution of
vested accrued benefits of $5,000 or less, the value of a participant’s
nonforfeitable account balance shall be determined without regard to that portion of the
account balance that is attributable to rollover contributions (and earnings allocable
thereto) within the meaning of Sections 402(c), 403(a)(4), 403(b)(8), 408(d)(3)(A)(ii),
and 457(e)(16) of the Code. If the value of the participant’s nonforfeitable account
balance as so determined is $5,000 or less, then the plan shall immediately distribute
the participant’s entire nonforfeitable account balance. 

ARTICLE IV 
HARDSHIP DISTRIBUTIONS 

Reduction of Section 402(g) of the
Code following hardship distribution. If the plan provides for hardship distributions
upon satisfaction of the safe harbor (deemed) standards as set forth in Treas. Reg.
Section 1.401(k)-1(d)(2)(iv), then effective as of the date the elective deferral
suspension period is reduced from 12 months to 6 months pursuant to EGTRRA, there shall be
no reduction in the maximum amount of elective deferrals that a Participant may make
pursuant to Section 402(g) of the Code solely because of a hardship distribution made by
this plan or any other plan of the Employer. 

ARTICLE V 
CATCH-UP CONTRIBUTIONS 

Catch-up Contributions. Unless
otherwise elected in Section 2.2 of this amendment, effective for calendar years beginning
after December 31, 2001, all employees who are eligible to make elective deferrals under
this plan and who have attained age 50 before the close of the calendar year shall be
eligible to make catch-up contributions in accordance with, and subject to the limitations
of, Section 414(v) of the Code. Such catch-up contributions shall not be taken into
account for purposes of the provisions of the plan implementing the required limitations
of Sections 402(g) and 415 of the Code. The plan shall not be treated as failing to
satisfy the provisions of the plan implementing the requirements of Sections 401(k)(3),
401(k)(11), 401(k)(12), 410(b), or 416 of the Code, as applicable, by reason of the making
of such catch-up contributions. 

If elected in Section 2.2, catch-up
contributions shall not be treated as elective deferrals for purposes of applying any
Employer matching contributions under the plan. 

ARTICLE VI 
REQUIRED MINIMUM
DISTRIBUTIONS 

	6.1  	GENERAL
RULES  

	6.1.1  	Effective
Date. Unless a later effective date is specified in Section 2.3.a of this amendment,
the provisions of this amendment will apply for purposes of determining required minimum
distributions for calendar years beginning with the 2002 calendar year. 

3 

	6.1.2  	Coordination
with Minimum Distribution Requirements Previously in Effect. If the effective date of
this amendment is earlier than calendar years beginning with the 2003 calendar year,
required minimum distributions for 2002 under this amendment will be determined as
follows. If the total amount of 2002 required minimum distributions under the Plan made
to the distributee prior to the effective date of this amendment equals or exceeds the
required minimum distributions determined under this amendment, then no additional
distributions will be required to be made for 2002 on or after such date to the
distributee. If the total amount of 2002 required minimum distributions under the Plan
made to the distributee prior to the effective date of this amendment is less than the
amount determined under this amendment, then required minimum distributions for 2002 on
and after such date will be determined so that the total amount of required minimum
distributions for 2002 made to the distributee will be the amount determined under this
amendment. 

	6.1.3  	Precedence.
The requirements of this amendment will take precedence over any inconsistent provisions
of the Plan. 

	6.1.4  	Requirements
of Treasury Regulations Incorporated. All distributions required under this amendment
will be determined and made in accordance with the Treasury regulations under Section
401(a)(9) of the Internal Revenue Code. 

	6.1.5  	TEFRA
Section 242(b)(2) Elections. Notwithstanding the other provisions of this amendment,
distributions may be made under a designation made before January 1, 1984, in accordance
with Section 242(b)(2) of the Tax Equity and Fiscal Responsibility Act (TEFRA) and the
provisions of the Plan that relate to Section 242(b)(2) of TEFRA. 

	6.2  	TIME
AND MANNER OF DISTRIBUTION  

	6.2.1  	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.

	6.2.2  	Death
of Participant Before Distributions Begin. If the Participant dies before
distributions begin, the Participant’s entire interest will be distributed, or begin
to be distributed, no later than as follows: 

	 	
(a)     
If the Participant’s surviving spouse is the Participant’s sole
          designated beneficiary, then, except as provided in Article VI, distributions
to           the surviving spouse will begin by December 31 of the calendar year
immediately           following the calendar year in which the Participant died, or by
December 31 of           the calendar year in which the Participant would have attained
age 70 1/2, if           later.  

	 	
(b)
      If the Participant’s surviving spouse is not the Participant’s sole
          designated beneficiary, then, except as provided in Section 2.3 of this
          amendment, distributions to the designated beneficiary will begin by December 31
          of the calendar year immediately following the calendar year in which the
          Participant died. 

	 	
(c)     
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.  

	 	
(d)     
If the Participant’s surviving spouse is the Participant’s sole
          designated beneficiary and the surviving spouse dies after the Participant but
          before distributions to the surviving spouse begin, this Section 6.2.2, other
          than Section 6.2.2(a), will apply as if the surviving spouse were the
          Participant. 

	 	
For
purposes of this Section 6.2.2 and Section 2.3, unless Section 6.2.2(d) applies,
distributions are considered to begin on the Participant’s required beginning date.
If Section 6.2.2(d) applies, distributions are considered to begin on the date
distributions are required to begin to the surviving spouse under Section 6.2.2(a). If
distributions under an annuity purchased from an insurance company irrevocably commence
to the Participant before the Participant’s required beginning date (or to the
Participant’s surviving spouse before the date distributions are required to begin
to the surviving spouse under Section 6.2.2(a)), the date distributions are considered to
begin is the date distributions actually commence.  

4 

	6.2.3  	Forms
of Distribution. Unless the Participant’s interest is distributed in the form of
an annuity purchased from an insurance company or in a single sum on or before the
required beginning date, as of the first distribution calendar year distributions will be
made in accordance with Sections 6.3 and 6.4 of this amendment. If the Participant’s
interest is distributed in the form of an annuity purchased from an insurance company,
distributions thereunder will be made in accordance with the requirements of Section
401(a)(9) of the Code and the Treasury regulations. 

	6.3  	REQUIRED
MINIMUM DISTRIBUTIONS DURING PARTICIPANT’S LIFETIME  

	6.3.1  	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: 

	 	
(a)     
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  

	 	
(b)
     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.  

	6.3.2  	Lifetime
Required Minimum Distributions Continue Through Year of Participant’s Death.
Required minimum distributions will be determined under this Section 6.3 beginning with
the first distribution calendar year and up to and including the distribution calendar
year that includes the Participant’s date of death. 

	6.4  	REQUIRED
MINIMUM DISTRIBUTIONS AFTER PARTICIPANT’S DEATH  

	6.4.1  	Death
On or After Date Distributions Begin.

	 	
(a)
     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:  

	 	
(1)
      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. 

	 	
(2)
     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 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.  

	 	
(3)
     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.  

	 	
(b)
     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.  

5 

	6.4.2  	Death
Before Date Distributions Begin. 

	 	
(a)
     Participant Survived by Designated
Beneficiary. Except as provided in           Section 2.3, 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 6.4.1.  

	 	
(b)
     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.  

	 	
(c)
     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 6.2.2(a), this Section           6.4.2 will apply as if the surviving
spouse were the Participant.  

	6.5  	DEFINITIONS  

	6.5.1  	Designated
beneficiary. The individual who is designated as the Beneficiary under the Plan and
is the designated beneficiary under Section 401(a)(9) of the Internal Revenue Code and
Section 1.401(a)(9)-1, Q&A-4, of the Treasury regulations. 

	6.5.2  	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 6.2.2. 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. 

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

	6.5.4  	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 the 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 in the valuation calendar year. 

	6.5.5  	Required
beginning date. The date specified in the Plan when distributions under Section
401(a)(9) of the Internal Revenue Code are required to begin. 

ARTICLE VII 
DEEMED 125
COMPENSATION 

If elected, this Article shall apply
as of the effective date specified in Section 2.4 of this amendment. For purposes of any
definition of compensation under this Plan that includes a reference to amounts under
Section 125 of the Code, amounts under Section 125 of the Code include any amounts not
available to a Participant in cash in lieu of group health coverage because the
Participant is unable to certify that he or she has other health coverage. An amount will
be treated as an amount under Section 125 of the Code only if the Employer does not
request or collect information regarding the Participant’s other health coverage as
part of the enrollment process for the health plan. 

6 

Except with respect to any election
made by the employer in Article II, this amendment is hereby adopted by the prototype
sponsor on behalf of all adopting employers on 

[Sponsor’s signature and
Adoption Date are on file with Sponsor] 

NOTE: The employer only needs to
execute this amendment if an election has been made in Article II of this amendment. 

This amendment has been executed
this _________________ day of ______________________________, ________. 

Name of Plan:  Regency Centers 401(k)
Profit Sharing Plan  

Name of Employer:   Regency Centers
Corporation  

By:
__________________________________________________                   
                    EMPLOYER 

Name of Participating Employer: _________________________________ 

By:
__________________________________________________                   
                    PARTICIPATING EMPLOYER 

7AMENDATORY AGREEMENT #1 

Regency Centers  Corporation,  as
Employer  ("Employer")  and Wells Fargo Bank,  N.A., as Trustee  ("Trustee") make this
Amendatory Agreement to the Regency Centers 401(k) Profit Sharing Plan ("Plan"). 

WITNESSETH 

        WHEREAS,
it is necessary to make amendment to the Plan in order to change the eligibility
conditions, add a negative deferral election provision, and change the employer matching
contribution formula. 

        WHEREAS,
Section 13.02 of the Wells Fargo Defined Contribution Master Plan and Trust Agreement
gives the Employer the authority to amend the Plan. 

        NOW
THEREFORE, in consideration of the above premises, the Employer and Trustee agree to amend
the Plan as follows: 

     	1.	
          The Employer’s selection under Adoption Agreement Section 2.01(b), Item
          9(b), is hereby amended as follows: 

          

	 	9. 	ELIGIBILITY   (2.01).

	 	Eligibility
conditions. To become a Participant in the Plan, an Employee must satisfy the
following eligibility conditions:  

	 	[X]	(b)     
Service.    Service requirement.  

	 	              [   ]	
       (1)           One Year of Service. 

	 	              [   ] 	
       (2)         Two Years of Service, without an intervening Break in Service. See Plan
              Section 2.03(A). 

	 	[   ] 	(3)
     One Hour of Service (immediate completion of Service requirement). The Employee satisfies
the Service requirement on his/her Employment Commencement Date. 

	 	[X]	(4)     
   three (3)    months
(not           exceeding 24).  

     	2.	
          The Employer’s selection under Adoption Agreement Section 3.02(b), Item
          14(b), is hereby amended as follows: 

          

	 	14.	DEFERRAL
CONTRIBUTIONS  (3.02).    The following limitations and terms apply to an
Employee’s deferral contributions: 

	 	[X]  	(b)
     Negative deferral election. The Employer will withhold    2   %
from the           Participant’s Compensation unless the Participant elects a lesser
          percentage (including zero) under his/her salary reduction agreement. See Plan
          Section 14.02(C). The negative election will apply to:  

	 	[X]	(1)
     All Participants who have not deferred at least the automatic deferral
               amount as of: January 1, 2006 .  

	 	[   ]	
(2)      Each Employee whose Plan Entry Date is on or
following the negative election effective date.  

(amendment continued on second page) 

	3. 	The
Employer’s selection under Adoption Agreement Section 3.03, Item 15, is
          hereby amended as follows: 

	 	15. 	MATCHING
CONTRIBUTIONS (INCLUDING ADDITIONAL SAFE HARBOR MATCH UNDER PLAN
                    SECTION 14.02(D)(3))  (3.03). The Employer matching
contribution is: 

	 	 [X]  	
(a)     Fixed formula.  An amount equal to 100 % of each Participant's deferral
contributions.  

	 	
Time
period for matching contributions. The Employer will determine its matching
contribution based on deferral contributions made during each:  

	 	         [   ] 	
(e)      Plan Year.  

	 	         [   ] 	
(f)      Plan Year quarter.  

	 	[X]  	(g)     
Payroll period. 

	 	         [   ] 	
(h)      Alternative time period:   _____________.  

	 	
Deferral
contributions taken into account. In determining a Participant’s deferral
contributions taken into account for the above-specified time period under the matching
contribution formula, the following limitations apply:  

	 	[   ] 	 (i)     
All deferral contributions.   The Plan Administrator will take into account all
deferral contributions.  

	 	[X] 	(j)     
Specific limitation. The Plan Administrator will disregard deferral
          contributions exceeding $3,500 or an equal amount expressed as
          a% of the Participant’s Compensation.  

	 	[   ]	
(k)      Discretionary.   The Plan Administrator will take into account the deferral
contributions as a percentage of the Participant’s Compensation as the Employer
determines.  

	 	
Other
matching contribution requirements.  The matching contribution formula is subject to
the following additional requirements:  

	 	[X]	(l)     
Matching contribution limits. A Participant’s matching
          contributions may not exceed:  

	 	[X]	(1)     
$3,500; also, employer matching           contributions
will only be made on employee deferral contributions not           withdrawn prior
to the end of the applicable           period.  

        This
Amendatory Agreement shall be effective January 1, 2006. In all other respects, the Plan
and Adoption Agreement shall remain unchanged and in full force and effect. 

        IN
WITNESS WHEREOF, the Employer and Trustee have executed this Amendatory
Agreement in 2005 this 30th day of September. 

		Regency Centers Corporation 
	

Attest:___________________________________	By:_______________________________________________
		"EMPLOYER"
		

Wells Fargo Bank, N.A. 
	

Accepted: _______________________________	By:______________________________________________
		"TRUSTEE"
	
Date

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