Document:

<PAGE>

                                                                     EXHIBIT 4.7

                         CONSOLIDATED AMENDMENT NO. 3 TO
    AMENDED AND RESTATED CREDIT AGREEMENT, AMENDED AND RESTATED REIMBURSEMENT
                         AGREEMENT AND PROMISSORY NOTE

         This Consolidated Amendment No. 3 to Amended and Restated Credit
Agreement, Amended and Restated Reimbursement Agreement, and Promissory Note
(this "AMENDMENT"), dated as of May 15, 2003, is entered into by and between
SIFCO INDUSTRIES, INC. (the "BORROWER") and NATIONAL CITY BANK (the "BANK") for
the purposes amending and supplementing the documents and instruments referred
to below.

                                   WITNESSETH:

         Whereas, Borrower and Bank are parties to an Amended and Restated
Credit Agreement made as of April 30, 2002, as amended by Letter Agreement dated
August 1, 2002 (as amended, the "CREDIT AGREEMENT" providing for $6,000,000 of
revolving credits; all terms used in the Credit Agreement being used herein with
the same meaning); and

         Whereas, Borrower and Bank are parties to an Amended and Restated
Reimbursement Agreement made as of April 30, 2002, as amended by Letter
Agreement dated August 1, 2002 (as amended, the "REIMBURSEMENT AGREEMENT"
pursuant to which a Letter of Credit was issued in the initial stated amount of
$4,225,280; all terms used in the Reimbursement Agreement being used herein with
the same meaning); and

         Whereas, Borrower and Bank are parties to Promissory Note made as of
April 14, 1998 (the "TERM NOTE" providing for a $12,000,000 term loan; all terms
used in the Term Note being used herein with the same meaning); and

         WHEREAS,  the Credit Agreement,  the Reimbursement  Agreement and the
Term Note were previously amended by Consolidated Amendment No. 1 and
Consolidated Amendment No. 2; and

         Whereas, Borrower and Bank desire to further amend certain provisions
of the Credit Agreement and the Reimbursement Agreement to, among other things,
(a) amend and/or waive certain financial covenants applicable thereto, and (b)
supplement certain of the covenants therein; and

         NOW, THEREFORE, in consideration of the foregoing and the mutual
covenants and agreements contained herein and for other good and valuable
consideration, the receipt and sufficiency of which is hereby acknowledged, the
parties agree as follows:

SECTION I - AMENDMENTS TO CREDIT AGREEMENT

            A. Section 2A.01 of the Credit Agreement is hereby amended to
               provide that, upon the execution and delivery of this
               Consolidated Amendment No 3, the Commitment and availability
               under the Credit Agreement shall not exceed Six Million dollars
               ($6,000,000), subject to the Borrowing Base limitations set
               forth below.

            B. Section 2A.02 of the Credit Agreement is hereby amended to
               extend the Expiration Date from MARCH 31, 2004 to JUNE 30, 2004.

            C. Section 2B.16 (II) of the Credit Agreement is hereby amended to
               read as follows:

           (ii) Advances for Subject Loans shall not initially exceed an amount
equal to eighty percent (80%) of eligible accounts receivable (the "Borrowing
Base") (to be determined by Bank), less a reserve in the amount of One Million
Dollars ($1,000,000) (the "Reserve"), until such time as an equipment appraisal
can be completed and received by the Bank, at which time a permanent Borrowing
Base will be established. The Reserve shall be established the earliest to occur
of (a) receipt of a federal tax refund or (b) within ninety (90) days of the
date of this Amendment. The appraisal shall be at Borrower's cost and shall be
completed no later than JUNE 30, 2003, unless a later date is agreed upon
between the Borrower and the Bank. After completion and receipt of the
appraisal, to go along with the field audit and real estate appraisal previously
received by the Bank, Bank shall provide a borrowing base based upon the results
of the field audit and appraisals.

                                       1

<PAGE>

             D. Borrower and Bank further agree that this credit shall be
                monitored by the Bank on a "full following, daily reporting
                basis" utilizing a "cash collateral account established at the
                Bank pursuant to the terms of the Security Agreement between the
                Borrow and the Bank; provided, however, that if the outstandings
                under the Credit Agreement are below $4,000,000 and there is a
                minimum of a $1,000,000 availability in the borrowing base,
                reporting will be weekly rather than daily.

SECTION II - AMENDMENTS TO REIMBURSEMENT AGREEMENT

         A.Subsection 7(B) (PRETAX INTEREST COVERAGE) of the Reimbursement
         Agreement is hereby WAIVED through the period ending DECEMBER 31,
         2004.

SECTION III - REPRESENTATIONS AND WARRANTIES

         Borrower hereby represents and warrants to Bank, to the best of
         Borrower's knowledge, that

             (A) none of the representations and warranties made in the Credit
                 Agreement, the Reimbursement Agreement or the Promissory Note
                 (collectively, the "Loan Documents") has ceased to be true and
                 complete in any material respect as of the date hereof; and

             (B) as of the date hereof no "Default" has occurred that is
                 continuing under the Loan Documents.

SECTION IV -ACKNOWLEDGMENTS CONCERNING OUTSTANDING LOANS

         Borrower acknowledges and agrees that, as of the date hereof, all of
Borrower's outstanding loan obligations to Bank are owed without any offset,
deduction, defense, claim or counterclaim of any nature whatsoever. Borrower
authorizes Bank to share all credit and financial information relating to
Borrower with each of Bank's parent company and with any subsidiary or affiliate
company of such Bank or of such Bank's parent company.

SECTION V - REFERENCES

         On and after the effective date of this Amendment, each reference in
the Credit Agreement, the Reimbursement Agreement or the Term Note to "this
Agreement", "hereunder", "hereof", or words of like import referring to the
Credit Agreement, Reimbursement Agreement or Term Note shall mean and refer to
the Credit Agreement, Reimbursement Agreement and Term Note as amended hereby.
The Loan Documents, as amended by this Amendment, are and shall continue to be
in full force and effect and are hereby ratified and confirmed in all respects.
To the extent any amendment set forth in any previous amendment is omitted from
this Amendment, the same shall be deemed eliminated as between Borrower and the
other parties hereto as of the date hereof. The execution, delivery and
effectiveness of this Amendment shall not operate as a waiver of any right,
power or remedy of Bank under the Loan Documents or constitute a waiver of any
provision of the Loan documents except as specifically set forth herein.

SECTION VI - COUNTERPARTS AND GOVERNING LAW

         This Amendment may be executed in any number of counterparts, each
counterpart to be executed by one or more of the parties but, when taken
together, all counterparts shall constitute one agreement. This Amendment, and
the respective rights and obligations of the parties hereto, shall be construed
in accordance with and governed by Ohio law.

         IN WITNESS WHEREOF, the Borrower and the Bank have caused this
Amendment to be executed by their authorized officers as of the date and year
first above written.

SIFCO INDUSTRIES, INC.                         NATIONAL CITY BANK

By:  /s/  Frank A Cappello                     By:  /s/  Terry Wolford
     -----------------------                   -------------------------
     Frank A. Cappello                         Terry Wolford
     Vice President-Finance and                Vice President
     Chief Financial Officer

                                       2<PAGE>
                                                                  EXHIBIT 10 (A)

                                                                 OCTOBER 9, 2002

                      EXECUTIVE DEFERRED COMPENSATION PLAN

                                       OF

                       HUNTINGTON BANCSHARES INCORPORATED

                            EFFECTIVE OCTOBER 1, 2001

                      AMENDED AND RESTATED OCTOBER 1, 2002
<PAGE>
                      EXECUTIVE DEFERRED COMPENSATION PLAN
                      OF HUNTINGTON BANCSHARES INCORPORATED

                                TABLE OF CONTENTS

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ARTICLE 1 - DEFINITIONS

         1.01     Accounts........................................................................................      1
         1.02     Beneficiary.....................................................................................      1
         1.03     Bonus...........................................................................................      1
         1.04     Bonus Deferral Agreement........................................................................      1
         1.05     Bonus Deferrals.................................................................................      1
         1.06     Cash Deferral Account...........................................................................      2
         1.07     Change in Control...............................................................................      2
         1.08     Code............................................................................................      2
         1.09     Common Stock....................................................................................      2
         1.10     Common Stock Deferral Account...................................................................      2
         1.11     Compensation....................................................................................      2
         1.12     Compensation Committee..........................................................................      2
         1.13     Corporation.....................................................................................      3
         1.14     Deferrals.......................................................................................      3
         1.15     Distribution Election Form......................................................................      3
         1.16     Effective Date..................................................................................      3
         1.17     Eligible Employee...............................................................................      3
         1.18     ERISA...........................................................................................      3
         1.19     Investment Funds................................................................................      3
         1.20     Long-Term Incentive.............................................................................      4
         1.21     Long-Term Incentive Deferral Agreement..........................................................      4
         1.22     Long-Term Incentive Deferrals...................................................................      4
         1.23     Member..........................................................................................      4
         1.24     Net Shares......................................................................................      4
         1.25     Plan............................................................................................      4
         1.26     Plan Year.......................................................................................      5
         1.27     Restricted Stock Award..........................................................................      5
         1.28     Restricted Stock Deferral Agreement.............................................................      5
         1.29     Restricted Stock Deferrals......................................................................      5
         1.30     Salary Deferral Agreement.......................................................................      5
         1.31     Salary Deferrals................................................................................      5
         1.32     Stock Option Deferral Account...................................................................      5
         1.33     Stock Option Deferral Agreement.................................................................      6
         1.34     Stock Option Deferrals..........................................................................      6
         1.35     Trust...........................................................................................      6
         1.36     Valuation Date..................................................................................      6
</TABLE>
<PAGE>
                      EXECUTIVE DEFERRED COMPENSATION PLAN
                      OF HUNTINGTON BANCSHARES INCORPORATED

                                TABLE OF CONTENTS
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ARTICLE 2 - PARTICIPATION

         2.01     Eligibility....................................................................................       7
         2.02     Participation..................................................................................       8

ARTICLE 3 - CONTRIBUTIONS

         3.01     Amount of Deferral Contributions...............................................................      13
         3.02     Stock Option Exercise..........................................................................      15
         3.03     Investment of Accounts.........................................................................      16
         3.04     Valuation of Accounts..........................................................................      17
         3.05     Vesting of Account.............................................................................      18
         3.06     Individual Accounting..........................................................................      19

ARTICLE 4 - PAYMENT OF ACCOUNT

         4.01     Payment of Accounts............................................................................      20
         4.02     Method of Payment..............................................................................      20
         4.03     Hardship Distributions.........................................................................      22
         4.04     Other Distributions............................................................................      22
         4.05     Accelerated Tax Distributions..................................................................      23
         4.06     Compensation Committee Deferral of Distributions...............................................      23
         4.07     Death Benefit..................................................................................      23
         4.08     Designation of Beneficiary.....................................................................      24

ARTICLE 5 - CHANGE IN CONTROL

         5.01     Definition of Change in Control................................................................      25
         5.02     Application in Change in Control...............................................................      26
         5.03     Payments to and by the Trust...................................................................      27
         5.04     Legal Fees and Expenses........................................................................      28
</TABLE>
<PAGE>
                      EXECUTIVE DEFERRED COMPENSATION PLAN
                      OF HUNTINGTON BANCSHARES INCORPORATED

                                TABLE OF CONTENTS
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ARTICLE 6 - GENERAL PROVISIONS

         6.01     Establishment of Rules.........................................................................      29
         6.02     Funding........................................................................................      30
         6.03     No Contract of Employment......................................................................      31
         6.04     Facility of Payment............................................................................      31
         6.05     Withholding Taxes..............................................................................      32
         6.06     Nonalienation..................................................................................      32
         6.07     Construction...................................................................................      32
         6.08     Limitations on Liability.......................................................................      33
         6.09     Administrative Expense.........................................................................      33
         6.10     Claims and Review Procedures...................................................................      33
         6.11     Illegal or Invalid Provision...................................................................      35
         6.12     Gender and Number..............................................................................      36
         6.13     Successors.....................................................................................      36

ARTICLE 7 - AMENDMENT OR TERMINATION.............................................................................      37
</TABLE>
<PAGE>
                      EXECUTIVE DEFERRED COMPENSATION PLAN
                      OF HUNTINGTON BANCSHARES INCORPORATED

                                  INTRODUCTION

This Executive Deferred Compensation Plan of Huntington Bancshares Incorporated
is authorized by the Board of Directors of Huntington Bancshares Incorporated
effective on and after October 1, 2001. The purpose of this Plan is to provide a
means to defer receipt of compensation and current income tax liability thereon
for selected managers and highly compensated employees in addition to the
amounts that can be deferred under the Corporation's qualified retirement plan.

This Plan is intended to constitute a nonqualified unfunded deferred
compensation plan for a select group of management or highly compensated
employees under Title I of the ERISA. All benefits payable under the Plan shall
be paid out of the general assets of Huntington Bancshares Incorporated.
Huntington Bancshares Incorporated may establish and fund a trust as provided
herein in order to aid it in providing benefits due under the Plan.
<PAGE>
                      EXECUTIVE DEFERRED COMPENSATION PLAN
                      OF HUNTINGTON BANCSHARES INCORPORATED

ARTICLE 1. DEFINITIONS

1.01  "ACCOUNTS" means the device used to measure and determine the amount of
      deferred compensation to be paid to a Member or Beneficiary under the Plan
      and may include the Cash Deferral Account, the Common Stock Deferral
      Account, and the Stock Option Deferral Account.

1.02  "BENEFICIARY" means the individual, trust or other recipient to whom a
      deceased Member's benefits are payable, as provided in Section 4.07.

1.03  "BONUS" means any annual bonus or other similar bonus payable to an
      Eligible Employee and any other bonus payable to an Eligible Employee and
      designated by the Corporation through other program documents or otherwise
      as eligible for deferral under this Plan.

1.04  "BONUS DEFERRAL AGREEMENT" means the agreement entered into by the Member
      pursuant to Section 2.02 under which he elects to defer all or a portion
      of his Bonus under this Plan.

1.05  "BONUS DEFERRALS" means the amount of contributions credited to a Member's
      Accounts under Section 3.01, with respect to his Bonus.

1.06  "CASH DEFERRAL ACCOUNT" means the account credited with Salary Deferrals,
      cash Bonus Deferrals and cash Long-Term Incentive Deferrals and the
      earnings credited to that Account pursuant to Section 3.03.

                                      -1-
<PAGE>
1.07  "CHANGE IN CONTROL" means the events described in Section 5.01.

1.08  "CODE" means the Internal Revenue Code of 1986, as amended from time to
      time.

1.09  "COMMON STOCK" means the Huntington Bancshares Incorporated common stock
      with no par value per share.

1.10  "COMMON STOCK DEFERRED ACCOUNT" means the account credited with Common
      Stock from deferred Common Stock in relation to Bonus Deferrals, Long-term
      Incentive Deferrals and Restricted Stock Deferrals and the dividend
      equivalents with respect to the Common Stock credited to that Account
      pursuant to Section 3.03.

1.11  "COMPENSATION" means base salary or commissions earned by an Eligible
      Employee from the Corporation for each payroll period during a Plan Year,
      including any salary reduction contributions made under any plan
      maintained by the Corporation pursuant to Sections 401(k), 125 and 132(f)
      of the Code.

1.12  "COMPENSATION COMMITTEE" means the Compensation and Stock Option Committee
      of the Board of Directors of the Corporation.

1.13  "CORPORATION" means Huntington Bancshares Incorporated, a Maryland
      corporation, together with any and all subsidiaries, and any successor
      thereto as provided in Section 6.13. A subsidiary or subsidiaries means
      any corporation or other entity whose financial statements are
      consolidated with the Corporation.

                                      -2-
<PAGE>
1.14  "DEFERRALS" means collectively the Salary, Bonus, Long-Term Incentive,
      Restricted Stock and Net Shares, unless indicated otherwise.

1.15  "DISTRIBUTION ELECTION FORM" means the form or forms completed by a Member
      to elect alternative payment options and/or alternative payout timing.

1.16  "EFFECTIVE DATE" means October 1, 2001.

1.17  "ELIGIBLE EMPLOYEE" means a manager or highly compensated employee of the
      Corporation who has been selected by the Compensation Committee or its
      delegate to participate in this Plan as described in Section 2.01.

1.18  "ERISA" means the Employee Retirement Income Security Act of 1974, as
      amended from time to time.

1.19  "INVESTMENT FUNDS" mean such investment funds that the Corporation may, in
      its discretion, make available in determining the earnings (or losses) on
      a Member's Cash Deferrals.

1.20  "LONG-TERM INCENTIVE" means any long-term award payable to an Eligible
      Employee by the Corporation and designated by the Corporation through
      other program documents or otherwise as eligible for deferral under this
      Plan.

1.21  "LONG-TERM INCENTIVE DEFERRAL AGREEMENT" means the agreement entered into
      by the

                                      -3-
<PAGE>
      Member pursuant to Section 2.02 under which he elects to defer all or a
      portion of his Long-Term Incentive under this Plan.

1.22  "LONG-TERM INCENTIVE DEFERRALS" means the amount of contributions credited
      to a Member's Accounts under Section 3.01, with respect to his Long-Term
      Incentive.

1.23  "MEMBER" means each Eligible Employee who has made the election described
      in Section 2.02.

1.24  "NET SHARES" with respect to an election made pursuant to Section 3.02,
      means the difference between the number of shares of Common Stock subject
      to the stock option exercise and the number of shares of Common Stock
      delivered to satisfy the stock option exercise price, less any shares used
      to satisfy FICA or any other taxes due upon the option exercise as may be
      designated by the Corporation.

1.25  "PLAN" means the Executive Deferred Compensation Plan of Huntington
      Bancshares Incorporated.

1.26  "PLAN YEAR" means the twelve (12)-month period beginning on any January 1;
      the first Plan Year shall begin October 1, 2001 and ends December 31,
      2001.

1.27  "RESTRICTED STOCK AWARD" means any restricted stock awards of Common Stock
      payable to an Eligible Employee by the Corporation and designated by the
      Corporation through a restricted stock award document or otherwise as
      eligible for deferral under this Plan.

                                      -4-
<PAGE>
1.28  "RESTRICTED STOCK DEFERRAL AGREEMENT" means the agreement entered into by
      the Member pursuant to Section 2.02 under which he elects to defer all or
      a portion of his Restricted Stock Award under the Plan.

1.29  "RESTRICTED STOCK DEFERRALS" means the amount of contributions credited to
      a Member's Accounts under Section 3.01, with respect to his Restricted
      Stock Award.

1.30  "SALARY DEFERRAL AGREEMENT" means the agreement entered into by the Member
      pursuant to Section 2.02 under which he elects to defer all or a portion
      of his Compensation under this Plan.

1.31  "SALARY DEFERRALS" means the amount of contributions credited to a
      Member's Account under Section 3.01, with respect to his Compensation.

1.32  "STOCK OPTION DEFERRAL ACCOUNT" means the account credited with the
      deferred Net Shares and the dividend equivalents with respect to those Net
      Shares credited to that Account pursuant to Section 3.03.

                                      -5-
<PAGE>
1.33  "STOCK OPTION DEFERRAL AGREEMENT" means the agreement entered into by the
      Member pursuant to Section 2.02 under which he elects to defer all or a
      portion of his Net Shares under this Plan.

1.34  "STOCK OPTION DEFERRALS" means the amount of contributions credited to a
      Member's Accounts under Section 3.01, with respect to his Net Shares.

1.35  "TRUST" means the trust that may be established by the Corporation as
      provided in Section 6.02(b).

1.36  "VALUATION DATE" means the last business day of each calendar month. All
      distributions under the Plan shall be based upon the value of the Member's
      Accounts as of the Valuation Date specified in Article 4 with respect to
      the distribution and shall include any contributions made by a Member, but
      not yet credited to the Member's Accounts.

                                      -6-
<PAGE>
ARTICLE 2. PARTICIPATION

2.01  ELIGIBILITY

      (a)   In addition to a designation of eligibility to participate in this
            Plan contained in other Corporation programs for its managers and
            highly compensated employees, the Compensation Committee or its
            delegate, in its sole discretion, shall select from time-to-time
            either individually or by class, those managers and highly
            compensated employees of the Corporation who shall be eligible to
            participate in this Plan under Section 2.02. The Compensation
            Committee may select different employees or classes of employees to
            participate in the various Deferrals. The Compensation Committee
            shall make its selection from those managers and highly compensated
            employees who it deems to be in a select group of management or
            highly compensated employees as defined under Title I of ERISA. Said
            employees shall be notified of their eligibility for participation
            in the Plan by the Corporation as soon as practicable after the
            Compensation Committee has made its selection and, for purposes of
            authorizing any Deferrals under Section 3.01, in any event prior to
            the first day of eligibility after said employee is designated an
            Eligible Employee. An Eligible Employee may become a Member for any
            or all Deferrals he is eligible for under Section 3.01.

      (b)   In its sole discretion, the Compensation Committee may withdraw its
            approval for participation in the Plan for any Member at any time
            with respect to any future deferral opportunity whether or not a
            deferral election has been made by the Member. In the event of such
            withdrawal, the Member with existing Accounts will remain a Member
            in relation to the right to direct investment and elect distribution
            options from those Accounts. Such Member shall be notified of such
            withdrawal in writing as soon as practicable following such action.
            Notwithstanding the foregoing,

                                      -7-
<PAGE>
      in the event a Change in Control occurs, the Compensation Committee may
      not thereafter withdraw its participation approval for any Member.

2.02  PARTICIPATION

      (a)   INITIAL PLAN YEAR.

            (i)   SALARY DEFERRALS will be available beginning in 2002 and to be
                  effective must be made by an Eligible Employee by executing
                  and delivering to the Corporation a Salary Deferral Agreement
                  by December 31, 2001. The Salary Deferral Agreement shall
                  apply to Compensation earned by the Eligible Employee in the
                  payroll periods beginning after December 31, 2001.

            (ii)  An election to become a Member and authorize a BONUS DEFERRAL
                  to be effective for a 2001 Bonus (payable in 2002) must be
                  made by an Eligible Employee, by executing and delivering to
                  the Corporation, an irrevocable Bonus Deferral Agreement by
                  December 31, 2001.

            (iii) An election to become a Member and authorize a LONG-TERM
                  INCENTIVE DEFERRAL to be effective for cycle eight (8)
                  payments ending on December 31, 2002 payable in 2003 must be
                  made by the Eligible Employee by executing and delivering to
                  the Corporation an irrevocable Long-term Incentive Deferral
                  Agreement as provided in Section 2.02(b)(iii).

            (iv)  STOCK OPTION DEFERRAL will be available beginning in 2003 and
                  to be effective must be made by an Eligible Employee by
                  executing and delivering to the Corporation a Stock Option
                  Deferral Agreement as provided in Section 2.02(b)(iv).

      (b)   INITIAL PARTICIPATION FOR 2002 PLAN YEAR AND THEREAFTER.

                                      -8-
<PAGE>
            (i)   In the case of a newly hired Eligible Employee or an employee
                  who first becomes an Eligible Employee during a Plan Year,
                  that Eligible Employee must execute and deliver to the
                  Corporation a Salary Deferral Agreement within 30 days of
                  notification of eligibility to participate in the Plan. Salary
                  Deferrals will begin in the first full payroll period
                  following receipt of the Salary Deferral Agreement.

            (ii)  For purposes of BONUS DEFERRALS, the initial irrevocable Bonus
                  Deferral Agreement must be executed and delivered to the
                  Corporation before the later of the date established for
                  current Members to submit their Plan Year Bonus Deferral
                  Agreement or thirty (30) days after being designated an
                  Eligible Employee, to apply to the Bonus attributable to that
                  Plan Year, which becomes payable in the next following Plan
                  Year. The Bonus Deferral Agreement for subsequent Plan Years
                  may be changed in accordance with the procedures in paragraph
                  (c)(ii) below. Notwithstanding the foregoing, in relation to
                  any other bonus, the irrevocable Bonus Deferral Agreement must
                  be made at such time and in such manner as established by the
                  Corporation in its discretion.

            (iii) For purposes of LONG-TERM INCENTIVE DEFERRALS and for
                  RESTRICTED STOCK DEFERRALS, the initial irrevocable Long-Term
                  Incentive Deferral Agreement or Restricted Stock Deferral
                  Agreement, as the case may be, must be executed and delivered
                  to the Corporation before the later of the date established
                  for current Members to submit their next plan year's payment
                  Deferral Agreement or thirty (30) days after being designated
                  an Eligible Employee for purposes of the Long-Term Incentive
                  Deferral and/or Restricted Stock Award Deferral.

                                      -9-
<PAGE>
            (iv)  For purposes of STOCK OPTION DEFERRALS effective initially in
                  2003, the initial Stock Option Deferral Agreement as it
                  applies to a specific Common Stock option must be executed and
                  delivered to the Corporation:

                  (A)   no later than December 31 of the Plan Year immediately
                        preceding the Plan Year in which the Member will
                        exercise such option, and

                  (B)   at least six (6) months before the exercise of the
                        Common Stock option.

                  This Stock Option Deferral Agreement is irrevocable, but will
                  only apply to the stock option(s) designated in the Agreement.

      (c)   CONTINUING PARTICIPATION.

            (i)   After the initial year for eligibility, an Eligible Employee
                  may authorize or change a previously authorized SALARY
                  DEFERRAL for any Plan Year by executing and delivering to the
                  Corporation a Salary Deferral Agreement at a date determined
                  by the Corporation, but no later than December 31 of the Plan
                  Year immediately preceding the Plan Year in which the
                  Compensation would otherwise be paid to the Member. Once a
                  Salary Deferral Agreement is made, it will remain in effect
                  for that Plan Year and subsequent Plan Years until suspended
                  or changed in accordance with these terms.

            (ii)  A Bonus Deferral Agreement must be executed for any Plan Year
                  that a BONUS DEFERRAL is desired. An irrevocable Bonus
                  Deferral Agreement must be delivered to the Corporation prior
                  to the last business day of March in order to defer that Plan
                  Year's Bonus, payable in the following Plan Year. A Bonus
                  Deferral Agreement is irrevocable, but may be changed for
                  subsequent Plan Years in accordance with these terms.

                                      -10-
<PAGE>
            (iii) A Long-Term Incentive Deferral Agreement must be executed for
                  each payout year that a LONG-TERM INCENTIVE DEFERRAL is
                  desired. The Long-Term Incentive Deferral Agreement must be
                  delivered to the Corporation prior to the last business day of
                  March of the year prior to the plan year of payment. This
                  Long-Term Incentive Deferral Agreement is irrevocable, but
                  will only apply to the Long-Term Incentive designated in the
                  Agreement.

            (iv)  A Restricted Stock Deferral Agreement must be executed for
                  each payment that a RESTRICTED STOCK DEFERRAL is desired. The
                  Restricted Stock Deferral Agreement must be delivered to the
                  Corporation more than six (6) months prior to the vesting in
                  the Restricted Stock Award and in the Plan Year prior to the
                  year in which the Restricted Stock Award vests. This Deferral
                  Agreement is irrevocable, but will only apply to the
                  Restricted Stock Award designated in the Agreement.

            (v)   A Stock Option Deferral Agreement must be executed for each
                  Common Stock option exercise that a STOCK OPTION DEFERRAL is
                  desired. The Stock Option Deferral Agreement must be delivered
                  to the Corporation:

                  (A)   no later than December 31 of the Plan Year immediately
                        preceding the Plan Year in which the Member will
                        exercise such option, and

                  (B)   at least six (6) months before the exercise of the
                        Common Stock option.

                  This Stock Option Deferral Agreement is irrevocable, but will
                  only apply to the stock option(s) designated in the Agreement.

      (d)   PARTICIPATION PROCEDURE. In order to commence participation in the
            Plan, an Eligible Employee must complete and timely deliver to the
            Corporation the following forms:

                                      -11-
<PAGE>
            (i)   one or more of the Deferral Agreements referred to above;

            (ii)  a Distribution Election Form which applies to one or more of
                  the Accounts for which Deferrals are elected; and

            (iii) a Beneficiary Designation Form which applies to the Accounts.

      (e)   ELECTION NOT TO DEFER. An Eligible Employee or Member may elect from
            time-to-time not to defer any amount he is eligible to defer
            hereunder without affecting the eligibility to defer at any time in
            the future as long as he remains an Eligible Employee.

                                      -12-
<PAGE>
ARTICLE 3. CONTRIBUTIONS

3.01  AMOUNT OF DEFERRAL CONTRIBUTIONS

      The amount of contributions to be recorded on the books of the Corporation
      on behalf of a Member's Accounts pursuant to this Section 3.01 shall be
      equal to the total of the Deferrals described herein.

      (a)   SALARY DEFERRALS. For each payroll period beginning on or after the
            effective date of an Eligible Employee's Salary Deferral Agreement,
            his Cash Deferral Account shall be credited with an amount of Salary
            Deferrals, if applicable. The amount of Salary Deferrals shall be
            equal to the designated percentage of Compensation elected by the
            Member in his Salary Deferral Agreement by agreeing to accept a
            reduction in Compensation equal to a stated whole percentage of
            Compensation per payroll period which is not less than five percent
            (5%) nor more than ninety (90%) of Compensation.

      (b)   BONUS DEFERRAL. The amount of Bonus Deferrals shall be elected by
            the Member by agreeing to accept a reduction in Bonus equal to a
            stated whole percentage in his Bonus Deferral Agreement for that
            year, which is not less than five percent (5%) or one hundred (100)
            shares of Common Stock nor more than ninety (90%) of Bonus.

      (c)   LONG-TERM INCENTIVE DEFERRAL. The amount of a Long-Term Incentive
            Deferral shall be elected by the Member by agreeing to accept a
            reduction in the Long-Term Incentive equal to a stated whole
            percentage in the applicable Long-Term Incentive Deferral Agreement,
            which is not less than five percent (5%) or one hundred (100) shares
            of Common Stock nor more than one hundred percent (100%) of the
            Long-Term Incentive.

      (d)   RESTRICTED STOCK DEFERRAL. The amount of a Restricted Stock Deferral
            shall be

                                      -13-
<PAGE>
            elected by the Member by agreeing to accept a reduction in the
            Restricted Stock Award equal to a stated whole percentage of his
            Common Stock covered in the applicable Restricted Stock Deferral
            Agreement, which is not less than one hundred (100) shares of Common
            Stock nor more than one hundred percent (100%) of the award (in
            whole shares).

      (e)   STOCK OPTION DEFERRAL. The amount of a Stock Option Deferral shall
            be elected by the Member by agreeing to accept a reduction in Net
            Shares deliverable to him equal to a stated whole percentage of his
            Net Shares for that Stock Option Deferral Agreement, which is not
            less than one hundred (100) shares of Common Stock nor more than one
            hundred percent (100%) of the Net Shares (in whole shares).

      (f)   The Corporation, in its sole discretion, may allow Deferrals in
            dollar amounts, or a combination of percentages and dollar amounts.

      (g)   No election for Deferrals will be effective unless the cash amount
            or Common Stock amount payable to the Member to which the Deferral
            applies is sufficient to satisfy such election.

      (h)   In no event shall the Deferrals of Compensation, Bonus, Long-Term
            Incentive, Common Stock or Net Shares be reduced below the amount
            required for federal, state and local tax and any other required or
            elected withholding amounts (including amounts elected under the
            Corporation's various benefit plans).

                                      -14-
<PAGE>
3.02  STOCK OPTION EXERCISE

      (a)   This Section describes the special procedures for deferring the
            delivery and receipt of Common Stock which a Member may receive from
            the exercise of a nonqualified stock option granted to the Member by
            the Corporation. The stock options are governed by the stock option
            plan under which they are granted. No stock options or shares of
            Common Stock are authorized to be issued under the Plan. A Member
            who elects to defer receipt of Common Stock issuable upon the
            exercise of stock options will have no rights as a stockholder of
            the Corporation with respect to allocations made to his Stock Option
            Deferral Account except the right to receive dividend equivalent
            allocations as hereafter described.

      (b)   A Member may elect to defer receipt of Net Shares of Common Stock
            resulting from a stock-for-stock exercise of an exercisable stock
            option issued to the Member by completing and submitting to the
            Corporation his Stock Option Deferral Agreement as provided in
            Section 2.02. The stock option exercise must occur on or prior to
            the expiration date of the stock option and must be accomplished by
            delivering Common Stock or using another acceptable method, such as,
            attestation, on or prior to the exercise date, shares of Common
            Stock which have been personally owned by the Member for at least
            six (6) months prior to the exercise date and have not been used in
            a stock swap in the prior six (6) months. A Member's Stock Option
            Deferral Agreement shall not be effective if the stock option as to
            which the Member has made the deferral election terminates prior to
            the exercise date selected by the Member. If the Member dies or
            fails to deliver shares of Common Stock which have been personally
            owned by the Member at least six (6) months prior to the exercise
            date (and have not been used in a stock swap in the prior six (6)
            months) in payment of the exercise price, then the Stock

                                      -15-
<PAGE>
            Option Deferral Agreement shall not be effective. Only whole Net
            Shares may be deferred.

3.03  INVESTMENT OF ACCOUNTS

      (a)   The Accounts of each Member shall be credited with an additional
            amount of hypothetical net earnings (or losses) determined under
            this Section.

      (b)   Except for the Common Stock Deferral Account and the Stock Option
            Deferral Account, each Member shall elect the manner in which his
            Accounts are to be credited with net earnings (and losses) by
            designating how the Accounts are to be invested on a hypothetical
            basis from among the Investment Funds. The election shall be made in
            writing on a form provided by the Corporation. An investment
            election shall be effective for the Valuation Date established by
            the Corporation following its receipt. Modifications may be made to
            investment elections on the same basis.

      (c)   If the Corporation exercises its discretion to establish the Trust,
            it reserves the right to determine the amount of contributions to
            the Trust and the types of investments used, including, but not
            limited to, mutual funds, annuities and life insurance contracts.

      (d)   Bonus Deferrals, Long-Term Incentive Deferrals, Restricted Stock
            Deferrals and Stock Option Deferrals of Common Stock may be
            maintained in their respective Accounts on the books of the
            Corporation or the Common Stock may be held in the Trust.

                                      -16-
<PAGE>
3.04  VALUATION OF ACCOUNTS

      (a)   On the first Valuation Date, the Member's Accounts shall equal:

            (i)   the amount of the Member's Deferrals, if any, credited to the
                  Member's Accounts during the period from the Effective Date
                  through the first Valuation Date; plus

            (ii)  the proportionate share of the net earnings or losses, if any,
                  since the Effective Date on the Investment Funds, made
                  available in determining the net earnings or losses on a
                  Member's Deferrals;

            (iii) for purposes of the Common Stock valuation, all dividend
                  equivalents payable in relation to Common Stock shall be
                  credited in the form of additional whole and fractional shares
                  of Common Stock since the Effective Date.

      (b)   On each subsequent Valuation Date, the Member's Accounts shall
            equal:

            (i)   the Member's Accounts balance as of the immediately preceding
                  Valuation Date; plus

            (ii)  the proportionate share of the net earnings or losses, if any,
                  since the immediately preceding Valuation Date on the
                  Investment Funds, made available in determining the net
                  earnings or losses on a Member's Deferrals; plus

            (iii) all dividend equivalents payable in relation to the Common
                  Stock (credited in the form of additional shares) since the
                  immediately preceding Valuation Date; plus

            (iv)  the then value of the Member's Deferrals, if any, credited
                  since the immediately preceding Valuation Date; and less

                                      -17-
<PAGE>
            (v)   any payments or distributions made in accordance with the
                  terms of the Plan from the Member's Accounts since the
                  immediately preceding Valuation Date.

      (c)   The Corporation reserves the right to change from time-to-time the
            procedures used in valuing the Accounts or crediting (or debiting)
            the Accounts if it determines that such an action is justified in
            that it results in a more accurate reflection of the fair market
            value of assets. In the event of a conflict between the provisions
            of this Section and such new administrative procedures, those new
            administrative procedures shall prevail.

      (d)   In the event that the Corporation determines that any
            recapitalization, stock split, reverse stock split, reorganization,
            merger, consolidation, split-up, spin-off, combination, repurchase
            or exchange of Common Stock or other securities of the Corporation,
            issuance of warrants or other rights to purchase Common Stock or
            other securities of the Corporation, or other similar corporate
            transactions or events affects the Common Stock, an appropriate
            adjustment to the Member's Common Stock Deferral Account and Stock
            Option Deferral Account shall be made to prevent reduction or
            enlargement of the Member's benefits under the Plan.

3.05  VESTING OF ACCOUNT

      The Member shall be fully vested in his Deferrals and earnings credited to
      his Accounts.

                                      -18-
<PAGE>
3.06  INDIVIDUAL ACCOUNTING

      The Corporation shall maintain, or cause to be maintained, records showing
      the individual balances of each of the Member's Accounts. At least once a
      year, each Member shall be furnished with a statement setting forth the
      value of his Accounts.

                                      -19-
<PAGE>
ARTICLE 4. PAYMENT OF ACCOUNT

4.01  PAYMENT OF ACCOUNTS

      A Member shall be entitled to receive payment of his Accounts upon the
      Member's termination of employment from the Corporation for any reason.

4.02  METHOD OF PAYMENT

      (a)   Unless otherwise elected as provided hereinafter, payment of the
            Accounts shall be made in a single lump sum payment on or as soon as
            administratively possible following the Valuation Date for the month
            following the month in which the Member terminates employment.

      (b)   In lieu of receiving an immediate lump sum payment, the Member may
            elect from time-to-time on a Distribution Election Form to receive
            his Accounts:

            (i)   in annual installments over a period allowed by the
                  Corporation ranging from two (2) to ten (10) years as follows:

                  (A)   with respect to Cash Deferral Accounts, annual cash
                        payments calculated by multiplying (I) the balance in
                        the Cash Deferral Account as of the Valuation Date on
                        which such installment payment is being made, times (II)
                        a fraction equal to the reciprocal of the number of
                        years remaining in the annual installment period elected
                        by the Member; and

                  (B)   with respect to Common Stock Deferral Accounts and Stock
                        Option Deferral Accounts, approximately equal annual
                        installments of Common Stock, or

                                      -20-
<PAGE>
            (ii)  in a lump sum payment or in installments as provided in
                  subparagraph (i) above beginning as of a specified Valuation
                  Date either before or after his termination of employment in
                  accordance with terms established by the Corporation.

      (c)   An installment payout election under paragraph (b) above is subject
            to the approval of the Corporation and to be effective must be made
            no later than:

            (i)   the end of the Plan Year prior to the Plan Year in which the
                  election will be effective; and

            (ii)  at least six (6) months prior to the commencement payout date.

      (d)   A Member may complete one Distribution Election Form at the time of
            the Member's initial Deferral hereunder electing a date or dates on
            which any Member Deferrals will be distributed or begin to be
            distributed to the Member other than the Member's termination of
            employment. The initial Deferral election period on the Distribution
            Election Form must be at least three (3) Plan Years from the Plan
            Year in which that Deferral occurs.

            The Member may subsequently extend any Deferral payout date, if the
            Member's subsequent Distribution Election Form is executed and
            delivered to the Corporation at least two (2) Plan Years prior to
            the then elected payout date.

      (e)   The Corporation may establish rules and procedures which allow a
            Member to complete a separate Distribution Election Form for each
            Account within the Member's Accounts or for an amount in any one of
            his Accounts based on the value of separate Deferral Agreements. In
            either situation, the Corporation shall revise the Distribution
            Election Form procedures under paragraph (d) above to

                                      -21-
<PAGE>
            allow current and subsequent elections to apply to each Account or
            to amounts in the Accounts based on separate deferral agreements.

4.03  HARDSHIP DISTRIBUTIONS

      The Corporation may, pursuant to rules adopted by it and applied in a
      uniform manner, accelerate the date of distribution of a Member's Accounts
      (except the Common Stock Deferral Account and the Stock Option Deferral
      Account) because of hardship at any time. "Hardship" shall include an
      unforeseeable, severe financial condition resulting from (a) a sudden and
      unexpected illness or accident of the Member or his dependents (as defined
      in Section 152(a) of the Code); (b) loss of the Member's property due to
      casualty; or (c) other similar extraordinary and unforeseeable
      circumstances arising as a result of events beyond the control of the
      Member, but which may not be relieved through other available resources of
      the Member, as determined by the Corporation. The amount of the
      distribution may not be in excess of the amount of the financial need to
      satisfy the hardship, including any amounts necessary to pay any federal,
      state or local tax reasonably anticipated to result from the distribution.

4.04  OTHER DISTRIBUTIONS

      A Member shall be permitted to accelerate payment from his Accounts on or
      as soon as administratively possible following the Valuation Date
      coincident with or occurring after at least thirty (30) days written
      notice to the Corporation. Such payment shall be subject to a ten percent
      (10%) penalty reduction to the Accounts and the Member's future Deferrals
      shall be suspended. The Member shall be permitted to reauthorize Deferrals
      for the Plan Year following the expiration of a twelve (12)-month period
      after said distribution, provided he still is an Eligible Employee.

                                      -22-
<PAGE>
4.05  ACCELERATED TAX DISTRIBUTIONS

      In the event any Deferral is finally determined to be income taxable to
      the Eligible Employee prior to any distribution event hereunder, then the
      Account holding that Deferral shall be distributable to the Eligible
      Employee. The Eligible Employee shall notify the Corporation of the final
      determination of taxability and will provide all information required by
      the Corporation.

4.06  COMPENSATION COMMITTEE DEFERRAL OF DISTRIBUTIONS

      The Compensation Committee may, in its sole discretion, defer payment to a
      future date of any otherwise scheduled distribution that would otherwise
      result in the loss of a corporate income tax deduction under Internal
      Revenue Code Section 162(m).

4.07  DEATH BENEFIT

      If a Member dies before payment of the entire balance of his Accounts, an
      amount equal to the unpaid portion thereof as of the date of his death
      shall be made in a single lump sum payment to his Beneficiary on or as
      soon as administratively possible following the Valuation Date for the
      month following the month in which the Member dies.

                                      -23-
<PAGE>
4.08  DESIGNATION OF BENEFICIARY

      Each Member shall file with the Corporation a written designation of one
      or more persons, trust or other recipient as the Beneficiary who shall be
      entitled to receive the amount, if any, payable from his Accounts under
      the Plan upon his death pursuant to this Section 4.07. A Member may, from
      time to time revoke or change his Beneficiary designation without the
      consent of any prior Beneficiary by filing a new designation with the
      Corporation. The last such designation received by the Corporation shall
      be controlling; provided however, that no designation, or change or
      revocation thereof, shall be effective unless received by the Corporation
      prior to the Member's death, and in no event shall it be effective as of a
      date prior to such receipt. If no such Beneficiary designation is in
      effect at the time of the Member's death, or if no designated Beneficiary
      survives the Member, the Corporation shall distribute the Member's
      benefits to the following persons in the following order of priority:

      (a)   The Member's surviving spouse;

      (b)   The Member's surviving children, in equal shares; or

      (c)   The legal representative of the Member's estate.

                                      -24-
<PAGE>
ARTICLE 5. CHANGE IN CONTROL

5.01  DEFINITION OF CHANGE IN CONTROL

      Change in Control means any of the following events:

      (a)   Any "person" (as such term is used in Sections 13(d) and 14(d) of
            the Exchange Act as in effect as of the date of this Plan), other
            than the Corporation or any "person" who as of the Effective Date is
            a director or officer of the Corporation or whose shares of Common
            Stock of the Corporation are treated as "beneficially owned" (as
            such term is used in Rule 13d-3 of the Exchange Act as in effect as
            of the Effective Date) by any such director or officer, becomes the
            beneficial owner, directly or indirectly, of securities of the
            Corporation representing twenty-five percent (25%) or more of the
            combined voting power of the Corporation's then outstanding
            securities;

      (b)   Individuals who, as of the Effective Date, constitute the Board of
            Directors of the Corporation (the "incumbent board") cease for any
            reason to constitute at least a majority of such Board of Directors,
            provided, however, that any individual becoming a director
            subsequent to the date hereof whose election, or nomination for
            election, was approved by a vote of at least a majority of the
            directors comprising the "incumbent board" shall be considered as
            though such individual were a member of the "incumbent board," but
            excluding for this purpose any such individual whose initial
            assumption of office occurs as a result of either an actual or
            threatened election contest (as such terms are used in Regulation
            14A promulgated under the Exchange Act) or other actual or
            threatened solicitation of proxies or consents by or on behalf of a
            "person" other than such Board of Directors;

                                      -25-
<PAGE>
      (c)   A merger or consolidation of the Corporation, other than a merger or
            consolidation in which the voting securities of the Corporation
            immediately prior to the merger or consolidation continue to
            represent (either by remaining outstanding or being converted into
            securities of the surviving entity) fifty-one percent (51%) or more
            of the combined voting power of the Corporation or surviving entity
            immediately after the merger or consolidation with another entity;

      (d)   A sale, exchange, lease, mortgage, pledge, transfer, or other
            disposition (in a single transaction or a series of related
            transactions) of all or substantially all of the assets of the
            Corporation which shall include, without limitation, the sale of
            assets or earning power aggregating more than fifty percent (50%) of
            the assets or earning power of the Corporation on a consolidated
            basis;

      (e)   A liquidation or dissolution of the Corporation;

      (f)   A reorganization, reverse stock split, or recapitalization of the
            Corporation which would result in any of the foregoing; or

      (g)   A transaction or series of related transactions having, directly or
            indirectly, the same effect as any of the foregoing.

5.02  APPLICATION IN CHANGE IN CONTROL

      To the extent applicable, the provisions of this Article shall control and
      shall supersede any other provisions of the Plan to the extent
      inconsistent with the provisions of this Article.

                                      -26-
<PAGE>
5.03  PAYMENTS TO AND BY THE TRUST

      If the Corporation determines that it is probable that a Change in Control
      may occur within the six (6)-month period immediately following the date
      of determination, or if a Change in Control in fact occurs in those
      situations where the Corporation has not otherwise made such a
      determination, the Corporation shall make a contribution to the Trust (if
      in existence at the date of determination or the date of the Change in
      Control, as the case may be) in accordance with the provisions of the
      Trust. Solely for purposes of determining the amount of such contribution
      (but in no way in limitation of the Corporation's liability under the Plan
      as determined under other provisions of the Plan), the Corporation's total
      liability under the Plan shall be equal to the value of all Accounts
      established under the Plan, which remain unpaid by the Corporation as of
      the date of determination or the date of the Change in Control, as the
      case may be, whether or not amounts are otherwise currently payable to
      Members or Beneficiaries under the Plan. All such contributions shall be
      made as soon as possible after the date of determination or of the Change
      in Control, as the case may be, and shall be made in cash and/or Common
      Stock. Further the Corporation may, in its discretion, make other
      contributions to the Trust from time-to-time for purposes of providing
      benefits hereunder, whether or not a Change in Control has occurred or may
      occur.

      Notwithstanding the foregoing, any contributions to the Trust, as well as
      any net earnings or losses thereon, shall be at all times subject to the
      provisions of the Trust.

                                      -27-
<PAGE>
5.04  LEGAL FEES AND EXPENSES

      The Corporation shall reimburse any Member or Beneficiary for all
      reasonable legal fees and expenses incurred by such Member or Beneficiary
      after the date of any Change in Control in seeking to obtain any right or
      benefit provided by the Plan.

                                      -28-
<PAGE>
ARTICLE 6. GENERAL PROVISIONS

6.01  ESTABLISHMENT OF RULES

      The Corporation shall be responsible for providing for the general
      administration of the Plan and for carrying out the provisions of the
      Plan. The Corporation from time-to-time shall establish rules for the
      administration of the Plan and the transaction of its business. The
      Corporation shall have total and complete discretion to interpret the
      Plan, including, but not limited to, the discretion to:

      (a)   determine all questions arising in the administration,
            interpretation and application of the Plan, including the power to
            construe and interpret the Plan;

      (b)   decide all questions relating to an individual's eligibility for
            benefits and the amounts thereof;

      (c)   decide all facts relevant to the determination of eligibility for
            benefits or participation;

      (d)   make such adjustments which it deems necessary or desirable to
            correct any arithmetical or accounting errors; and

      (e)   determine the amount, form and timing of any distribution to be made
            hereunder.

      In making its decision, the Corporation shall be entitled to, but need not
      rely upon, information supplied by a Member, Beneficiary, or
      representative thereof. The Corporation may correct any defect, supply any
      omission, or reconcile any inconsistency in such manner and to such extent
      as it shall deem necessary to carry out the purposes of this Plan. The
      Corporation's decisions in such matters shall be binding and conclusive as
      to all parties. In providing for the administration of the Plan, the
      Corporation may delegate responsibilities for the operation and
      administration of the Plan by a written document or documents filed with
      the Plan records.

6.02  FUNDING

                                      -29-
<PAGE>
      (a)   All amounts payable in accordance with this Plan shall constitute a
            general unsecured obligation of the Corporation. Such amounts, as
            well as any administrative costs relating to the Plan, shall be paid
            out of the general assets of the Corporation, to the extent not paid
            by a grantor trust established pursuant to paragraph (b) below. To
            the extent the Member or any other person acquires a right to
            receive benefits under this Plan, such right shall be no greater
            than the right of any unsecured general creditor of the Corporation.

      (b)   The Corporation may, for administrative reasons, establish a grantor
            trust for the benefit of Members participating in the Plan. The
            Corporation reserves the right to determine the amount of
            contributions to the Trust and the types of investments used,
            including, but not limited to, mutual funds, annuities and life
            insurance contracts. The assets of said trust will be held separate
            and apart from other Corporation funds, and shall be used
            exclusively for the purposes set forth in the Plan and the
            applicable trust agreement, subject to the following conditions:

            (i)   the creation of said trust shall not cause the Plan to be
                  other than "unfunded" for purposes of Title I of ERISA;

            (ii)  the Corporation shall be treated as "grantor" of said trust
                  for purposes of Section 677 of the Code; and

            (iii) said trust agreement shall provide that its assets may be used
                  to satisfy claims of the grantor's general creditors in the
                  event of its insolvency, and the rights of such general
                  creditors are enforceable by them under federal and state law.

                                      -30-
<PAGE>
      (c)   All Accounts under the Plan shall be for bookkeeping purposes only
            and shall not represent a claim against specific assets of the
            Corporation. Nothing contained in this Plan shall be deemed to
            create a trust of any kind or create any fiduciary relationship.
            Payments of amounts credited to Accounts under the Plan with respect
            to those Members and Beneficiaries for whom Trust contributions are
            made shall be made at the Corporation's option by the Corporation or
            from the Trust in accordance with the terms of the Trust, but, to
            the extent not paid by the Corporation, shall be paid by the Trust.

6.03  NO CONTRACT OF EMPLOYMENT

      The establishment of the Plan shall not be construed as conferring any
      legal rights upon any person for a continuation of employment, nor shall
      it interfere with the rights of the Corporation to discharge any officer
      and to treat him without regard to the effect which such treatment might
      have upon him as a Member of the Plan.

6.04  FACILITY OF PAYMENT

      In the event that the Corporation shall find that a Member is unable to
      care for his affairs because of illness or accident, the Corporation may
      direct that any benefit payment due him, unless claim shall have been made
      therefor by a duly appointed legal representative, be paid to his spouse,
      a child, a parent or other blood relative, or to a person with whom he
      resides, and any such payment so made shall be a complete discharge of the
      liabilities of the Plan therefor.

                                      -31-
<PAGE>
6.05  WITHHOLDING TAXES

      The Corporation shall have the right to deduct from each payment to be
      made under the Plan any required withholding taxes. In the event
      employment tax liability or state or local tax liability is assessed on
      amounts paid or payable under this Plan, the Corporation shall have the
      right to deduct from the payment or from the Member's other Compensation
      any required employee portion of the employment tax liability or income
      tax withholding.

6.06  NONALIENATION

      Subject to any applicable law, no benefit under the Plan shall be subject
      in any manner to anticipation, alienation, sale, transfer, assignment,
      pledge, encumbrance or charge, and any attempt so to do shall be void, nor
      shall any such benefit be in any manner liable for or subject to
      garnishment, attachment, execution or levy, or liable for or subject to
      the debts, contracts, liabilities, engagements or torts of the Member or
      any liability for equitable distribution, alimony or other payments for
      the support of a spouse or former spouse, or for any other relative of any
      Member.

6.07  CONSTRUCTION

      The Plan is intended to constitute an unfunded deferred compensation
      arrangement for a select group of management or highly compensated
      employees. Except to the extent superseded by Federal law, all rights
      hereunder shall be governed by and construed in accordance with the laws
      of the State of Ohio (including its statute or limitations provisions).
      The Plan shall be construed to effectuate its purpose and the
      Corporation's intent that the Plan be exempt from ERISA, as amended and
      that amounts deferred hereunder not be subject to Federal income tax until
      distributed.

                                      -32-
<PAGE>
      Except as otherwise provided by law, any action to enforce a right or
      obligation hereunder shall be brought in a court of competent jurisdiction
      in the County of Franklin and State of Ohio.

6.08  LIMITATIONS ON LIABILITY

      Notwithstanding any of the preceding provisions of the Plan, neither the
      Corporation nor any individual acting as employee or agent of the
      Corporation shall be liable to any Member, former Member or other person
      for any claim, loss, liability or expense incurred in connection with the
      Plan. The Corporation does not undertake any responsibility to any Member
      for the tax consequences of a particular Member's election to defer income
      under this Plan.

6.09  ADMINISTRATIVE EXPENSE

      All expenses of administering this Plan shall be paid by the Corporation
      and no part of the expenses or taxes on the Corporation shall be charged
      against any Member's Accounts or any benefits distributed under the Plan.

6.10  CLAIMS AND REVIEW PROCEDURES

      (a)   In accordance with any rules and procedures adopted by the
            Corporation, applications for benefits shall be submitted to the
            Corporation on a prescribed form signed by the Member or, in the
            case of a death benefit, by his Beneficiary.

            The Corporation shall, within 90 days after the receipt of a written
            claim, send written notification to the Participant or Beneficiary
            (referred to in the remainder of this Section as the "claimant") as
            to its disposition, unless special circumstances

                                      -33-
<PAGE>
            require an extension of time for processing the claim. If such an
            extension is required, written notice of the extension shall be
            furnished to the claimant prior to the termination of the initial
            ninety (90)-day period. In no event shall such extension exceed a
            period of ninety (90) days from the end of such initial period. The
            extension notice shall indicate the special circumstances requiring
            an extension of time and the date by which the Corporation expects
            to render the final decision.

            In the event the claim is wholly or partially denied, the written
            notification shall state the specific reason or reasons for the
            denial, include specific references to pertinent Plan provisions on
            which the denial is based, provide an explanation of any additional
            material or information necessary for the claimant to perfect the
            claim and a statement of why such material or information is
            necessary, and set forth the procedure by which the claimant may
            appeal the denial of the claim. If the claim has not been granted
            and notice is not furnished within the time period specified in the
            preceding paragraph, the claim shall be deemed denied for the
            purpose of proceeding to appeal in accordance with paragraph (b)
            below.

      (b)   In the event a claimant wishes to appeal the denial of his claim, he
            may request a review of such denial by making written application to
            the Corporation within sixty (60) days after receipt of the written
            notice of denial (or the date on which such claim is deemed denied
            if written notice is not received within the applicable time period
            specified in paragraph (a) above). Such claimant (or his duly
            authorized representative) may, upon written request to the
            Corporation, review documents which are pertinent to such claim, and
            submit in writing issues and comments in support of his position.
            Within sixty (60) days after receipt of the written appeal

                                      -34-
<PAGE>
            (unless an extension of time is necessary due to special
            circumstances or is agreed to by the parties, but in no event more
            than one hundred twenty (120) days after such receipt), the
            Corporation shall notify the claimant of its final decision. Such
            final decision shall be in writing and shall include specific
            reasons for the decision and specific references to the pertinent
            Plan provisions on which the decision is based. If an extension of
            time for review is required because of special circumstances,
            written notice of the extension shall be furnished to the claimant
            prior to the commencement of the extension. If the claim has not
            been granted and written notice is not provided within the time
            period specified above, the appeal shall be deemed denied.

      (c)   If the claimant does not follow the procedures set forth in
            paragraphs (a) and (b) above, the claimant shall be deemed to have
            waived his right to appeal benefit determinations under the Plan. In
            addition, the decisions, actions, and records of the Corporation
            shall be conclusive and binding upon the Corporation and all persons
            having or claiming to have any right or interests in or under the
            Plan.

6.11  ILLEGAL OR INVALID PROVISION

      In case any provision of the Plan shall be held illegal or invalid for any
      reason, such illegal or invalid provision shall not affect the remaining
      parts of the Plan, but the Plan shall be construed and enforced without
      regard to such illegal or invalid provision.

6.12  GENDER AND NUMBER

      Except as otherwise indicated by context, masculine terminology used
      herein also includes the feminine, and terms used in the singular may also
      include the plural.

                                      -35-
<PAGE>
6.13  SUCCESSORS

      All obligations of the Corporation under the Plan shall be binding on any
      successor to the Corporation, whether the existence of such successor is
      the result of a direct or indirect purchase of all or substantially all of
      the business and/or assets of the Corporation, or a merger, consolidation
      or otherwise.

                                      -36-
<PAGE>
ARTICLE 7. AMENDMENT OR TERMINATION

The Corporation reserves the right to modify or to amend, in whole or in part,
or to terminate this Plan any time by action of its Compensation Committee,
taken at a meeting held either in person or by telephone or other electronic
means, or by unanimous written consent by lieu of a meeting. However, no
modification or amendment of the Plan shall adversely affect the right of any
Member to receive the benefits granted under the Plan by the Corporation in
respect to such Member as of the date of modification or amendment.

If the Plan is terminated, payments from the Accounts of all Members and
Beneficiaries shall be made as soon as administratively convenient in the form
of monthly payments over a three (3)-year period; however, the Compensation
Committee, in its sole discretion, may pay benefits in a lump sum.

Notwithstanding the foregoing, following a Change in Control no modification,
amendment or termination of the Plan shall change the right of any Member to
direct investments, to direct the investment forms, to make distribution
elections whether in-service or at termination of service from those rights the
Member had at the date of modification, amendment or termination, without the
written consent of a majority in number of the Members, except when to comply
with legal or regulatory requirements necessary to maintain the tax deferred
status of any Deferrals.

                                      -37-

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