Document:

exv10w1

 

	 	 	 	 	 

EXHIBIT
10.1

COMMERCIAL LEASE EXTENSION AND ADDENDUM

THIS LEASE EXTENSION AGREEMENT (hereinafter referred to as the “Lease Extension”) is made and
entered into this 2nd day of August, 2006, by and between ACH BRO LLC (hereinafter referred to as
“Landlord”) and, as assignor of that certain lease dated 11th February 2005 between ACH
BRO LLC and HOI POLLOI LLC and the Commercial Lease Extension and Addendum with The Independent
Veterinary Group LLC to Professional Veterinary Products, Ltd. (hereinafter referred to as
“Tenant”) each agreeing to be bound by the terms and conditions of this Lease Extension.

In consideration of the covenants and obligations contained herein and of other good and valuable
consideration, the receipt and sufficiency of which is hereby acknowledged, the parties agree as
follows:

1. PRIOR LEASE: Landlord and The Independent Veterinary Group LLC executed a Lease Agreement and
Purchase Option dated 1st October 2005 (hereinafter “Lease Agreement”) with a term of lease
commencing on the 14th day of March, 2005, and which expires on the 13th day of March, 2006 Tenant
is the lawful assignor of the rights and obligations of HOI POLLOI LLC & Independent Veterinary
Group, LLC under the terms of that lease agreement. All terms, conditions, and provisions of said
Lease Agreement are hereby incorporated by reference or by attachment.

2. EXTENSION OF PRIOR LEASE TERM: ACH BRO LLC and Professional Veterinary Products, Ltd. hereby
agree to extend and continue the aforementioned Lease Agreement to and until 31st July
2007.

3. REVISED RENT PAYMENTS: The revised rent for this lease shall be payable in equal monthly
installments of $3,975.00 ($4.50 per s/f), payable on the 1st day of each month of the term. The
first full rent payment under this Lease Extension is due on the 1st day of August,
2006.

4. REVISED OPTION AMOUNT: The option amount in paragraph 12 of the Lease and Purchase Option
Agreement is hereby changed to $650,000.00.

5. ADDITIONAL RENT: Tenant agrees to pay Landlord additional rent in the amount of $333.32 for the
premises situated and known as 334 Henry Street for the duration of this Lease Agreement or any
subsequent extensions, thereto, or the termination of the lease agreement between the owner of the
tract at 334 Henry Street and ACH BRO LLC, whichever first occurs.

	 	 	 	 	 	 	 
	ACH BRO LLC (“LANDLORD”):	 	Professional Veterinary Products Ltd.
(Tenant):
	 
	 	 	 	 	 	 
	Sign:

	 	/s/ Christian H. Ach
	 	Sign:
	 	/s/ John Southworth
	 

	 	 
	 	 	 	 
	 
	 	 	 	 	 	 
	By:

	 	Christian H. Ach, Member
	 	By:
	 	John Southworth, Mgr. of Distribution
	 
	 	 	 	 	 	 
	Date:

	 	8/2/06
	 	Date:
	 	8/2/06
	 

	 	 
	 	 	 	 
	 
	 	 	 	 	 	 
	Independent Veterinary Group LLC:	 	 	 	 
	 
	 	 	 	 	 	 
	Sign:

	 	/s/ Anne W. Bohmer	 	 	 	 
	 

	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	By:

	 	Anne W. Bohmer, Member	 	 	 	 
	 
	 	 	 	 	 	 
	Date:

	 	8/2/06exv10w1

 

EXHIBIT 10.1

Professional Veterinary Products, Ltd.

Supplemental Executive Retirement Plan

The Professional Veterinary Products, Ltd. Supplemental Executive Retirement Plan (the “Plan”), as
established, effective January 1, 2003, by Professional Veterinary Products, Ltd. (the “Company”),
to provide supplemental retirement benefits to key employees of the Company, is hereby amended and
restated effective January 1, 2006.

Section 1. Definitions

The following terms shall have the meanings set forth below:

     1.1 “Actuarial Equivalent” means the equality in value of the aggregate amount of benefit
payments expected to be received under different forms or at different times computed on the basis
of the mortality assumptions of the 94 GAM and an interest rate equal to eight percent (8%) per
annum. The calculation of any actuarial equivalent benefit amount required by the Plan shall be
made under the foregoing assumptions by the actuary appointed by the Committee, and such
calculation shall be final and conclusive.

     1.2 “Board” means the Board of Directors of the Company.

     1.3 “Change in Control” means any of the following:

	 	(a)	 	the acquisition whether by purchase, merger or other
combination, of either (a) more than fifty percent (50%) of the total fair
market value of the Company’s outstanding capital stock, without regard to
class, or (b) voting control of Company consisting of shares of the
outstanding capital stock of the Company representing more than fifty percent
(50%) of the total voting power of the Company’s outstanding capital stock, by
any one person, entity or group (within the meaning of Income Tax Regulation
§1.409A-3(g)(5)(v)(B)); provided, however, if any one person,
entity or more than one person acting as a group is considered to own more
than fifty percent (50%) of the Company’s outstanding capital stock, the
acquisition of additional capital stock by the same person or persons shall
not be considered a Change in Control of the Company; or
	 
	 	(b)	 	the sale or transfer within a twelve month period of the
assets of the Company having a total gross fair market value of not less than
eighty percent (80%) of the total gross fair market value of all of the assets
of the Company (as
determined without regard to any liabilities associated with such assets)
to any person, entity or group (within the

 

 

meaning of Income Tax
Regulation § 1.409A-3(g)(5)(vii)(C)); provided, however, a
sale or transfer described in this Section 1.3(b) shall not be deemed to
occur with respect to any transfer or other disposition of the assets of
the Company to (i) a shareholder of the Company in exchange for or with
respect to the shareholder’s capital stock in the Company, (ii) an entity,
fifty percent (50%) or more of the total value or voting power of which is
owned, directly or indirectly, by the Company or an entity affiliated with
the Company, (iii) any person, or more than one person acting as a group,
that owns, directly or indirectly, fifty percent (50%) or more of the
total value of voting power of the outstanding capital stock of the
Company; or (iv) an entity, at least fifty percent (50%) of the total
value or voting power of which is owned, directly or indirectly, by a
person described in the preceding clause (iii).

     1.4 “Committee” means the Executive Committee of the Board.

     1.5 “Monthly Benefit” means a benefit payable each month to a Participant or the Participant’s
designated beneficiary as determined under the provisions of this Plan.

     1.6 “Monthly Pay” means the monthly average of the Participant’s base salary that is paid by
the Company for the final consecutive 36-month period of employment with the Company. Bonuses or
incentive compensation, fringe benefits, deferred compensation, welfare plan benefits and noncash
remuneration shall not be considered as part of the Participant’s base salary for this purpose.
Any salary reduction contributions by the Participant to a Section 401(k) plan or Section 125 plan
maintained by the Company shall be included in the Participant’s base salary.

     1.7 “Normal Retirement Date” means the Social Security Full Retirement Age.

     1.8 “Participant” means a highly compensated or management employee designated by the Board as
being eligible to participate in the Plan.

     1.9 “Permanent Disability” or “Permanently Disabled” shall be any medically determinable
physical or mental impairment which can be expected to result in death or can be expected to last
for a continuous period of not less than twelve months, and as further defined in the Company’s
Long-Term Disability Plan. In the event the Company should discontinue or no longer maintain a
Long-Term Disability Plan, Permanent Disability shall be deemed to mean a total
disability that would entitle the Participant to receive disability benefits under the federal
Social Security Act.

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     1.10 “Plan” means this Supplemental Executive Retirement Plan as amended from time to time.

     1.11 “Plan Year” means the calendar year.

     1.12 “Years of Service” means the 12-consecutive month period commencing on the Participant’s
employment commencement date with the Company and each 12-month anniversary thereof in which the
Participant remains in continuous service as an employee of the Company. Continuous service as an
employee of the Company shall not be considered interrupted in the case of sick leave, military
leave or any other leave of absence approved by the Board provided such leave does not exceed
ninety (90) days unless employment upon the expiration of such leave is guaranteed by contract or
statute.

Section 2. Participation

The Board of Directors shall designate from time to time the key employees who shall be added as
Participants in this Plan. Participation of a designated key employee shall be effective on the
January 1 or other date determined by the Board of Directors following such designation.

Section 3. Administration

The Committee shall administer the Plan and shall have all discretionary authority as may be
necessary or appropriate to administer the Plan.

     3.1 Actions of Committee. The Committee shall act by a majority of its members at the time in
office, and such action may be taken either by a vote at a meeting or in writing without a meeting.
The Committee shall authorize any one or more of its members to execute any document or documents
on behalf of the Committee. The Committee, by written instrument signed by it, may designate other
persons to carry out any of its duties and responsibilities. However, the duties and
responsibilities of such position shall be carried out only by appropriate officers and employees
of the Company.

     3.2 Authority of Committee. The Committee shall exercise such discretionary authority and
responsibility as it deems appropriate in order to administer the Plan and to comply with the
Internal Revenue Code and other applicable laws, including any documents and notifications required
to be given to Participants and beneficiaries.

	 	(a)	 	The Committee shall, in carrying out the Committee’s
administration hereunder, have absolute discretion, and any decision by the
Committee shall be final and bind all parties

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to the Plan. The Committee’s
discretionary duties and powers shall include, but not be limited to the
following:

	 	i.	 	To construe and interpret the Plan, decide
all questions of eligibility and determine the amount, manner and
time of payment of any benefits hereunder;
	 
	 	ii.	 	To prescribe procedures to be followed by
Participants or beneficiaries filing applications for benefits and to
establish claims procedures for the Plan;
	 
	 	iii.	 	To prepare and distribute information
explaining the Plan;
	 
	 	iv.	 	To receive from the Participants such
information as shall be necessary for the proper administration of
the Plan;
	 
	 	v.	 	To receive, review and keep on file (as it
deems convenient or proper) reports of the financial condition, and
of the receipts and disbursements; and
	 
	 	vi.	 	To appoint advisors, claims administrators
and legal counsel, to render advice with regard to any responsibility
of the Committee under the Plan or to assist in the administration of
the Plan.

     3.3 Adoption of Rules. The Committee may adopt such rules as it deems necessary, desirable or
appropriate in the administration of the Plan, including the establishment and administration of
the Plan’s claims procedures.

Section 4. Benefits

     4.1 Retirement Benefit. For all Participants other than Dr. Lionel Reilly, upon retirement
with the Company upon reaching the Normal Retirement Date, a Participant shall receive a Monthly
Benefit commencing on the first day of the month following Participant’s Normal Retirement Date and
payable for life, with a period of 10 years certain, equal to 35% of the Participant’s Monthly Pay.
For Dr. Reilly, upon retirement with the Company upon reaching the Normal Retirement Date, Dr.
Reilly shall receive a Monthly Benefit commencing on the first day of the month following Dr.
Reilly’s Normal Retirement Date and payable for life, with a period of 15 years certain, equal to
60% of his Monthly Pay If Participant decides to defer his/her retirement until after the Normal
Retirement
Date: a) the provisions of Section 4.3 herein shall apply and b) the period of 10 years certain
(15 years certain in the case of Dr. Reilly) shall be reduced by the number of years which
Participant works after Normal Retirement Date. Thus,

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for example purposes only, if a Participant
other than Dr. Reilly works 4 years after the Normal Retirement Date, the Monthly Benefit
calculated according to Section 4.3 shall commence on the first day of the month following
Participant’s actual retirement date and payable for life , with a period of 6 years certain. If
the Participant has less than 10 Years of Service at the Normal Retirement Date, the Monthly
Benefit will be reduced by 10% for each Year of Service less than 10.

     4.2 Termination Prior to Normal Retirement Date. A Participant who terminates employment with
the Company at age 55 or later with at least 15 Years of Service, but prior to the Normal
Retirement Date, shall receive an Early Retirement Benefit. The Early Retirement Benefit shall be
a Monthly Benefit commencing on the first day of the month following the termination of employment
and payable for life, with a period of 10 years certain, equal to 35% of the Participant’s Monthly
Pay multiplied by a fraction, the numerator of which shall be the actual Years of Service
(including fractional years) with the Company and denominator of which shall be the number of Years
of Service (including fractional years) that the Participant would have completed had he remained
in continuous employment through the Participant’s Normal Retirement Date; provided,
however, if the Participant was serving as the Chief Executive Officer of the Company (the
“CEO”) on January 1, 2006, the Early Retirement Benefit of the CEO shall be a Monthly Benefit
payable for life, with a period of 15 years certain, equal to 60% of the Participant’s Monthly Pay
multiplied by a fraction, the numerator of which shall be the actual Years of Service (including
fractional years) with the Company and denominator of which shall be the number of Years of Service
(including fractional years) that the CEO would have completed had he remained in continuous
employment through his Normal Retirement Date. The Monthly Benefit payable as the Early Retirement
Benefit will be further reduced to reflect the early payment of the benefit prior to the Normal
Retirement Date so that the monthly payment is the Actuarial Equivalent of the monthly payment that
would be paid at the Participant’s Normal Retirement Date.

Except as provided in Sections 4.4 or 4.5, a Participant who terminates employment with the Company
before attaining age 55 and completing 15 Years of Service shall not be entitled to any benefits
under this Plan.

     4.3 Termination After Normal Retirement Date. In the event a Participant retires after the
Normal Retirement Date, the Participant’s Monthly Benefit shall be actuarially increased to the
Actuarial Equivalent of the Monthly Benefit commencing on the Participant’s Normal Retirement Date.

     4.4 Disability Benefits. A Participant who becomes Permanently Disabled prior to termination
of employment and has at least 5 Years of Service with the Company (“Disabled Participant”), shall
receive a Monthly Benefit
commencing on the first day of the month following the Participant’s Normal Retirement Date
and payable for life, with a period of 10 years certain, equal to 35% of the Participant’s Monthly
Pay, as determined on the date of the

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Participant’s Permanent Disability, multiplied by a fraction,
the numerator of which shall be the Participant’s actual Years of Service (including fractional
years) with the Company at the date of the Permanent Disability and the denominator of which shall
be the number of Years of Service (including fractional years) that the Participant would have
completed had he remained in continuous employment with the Company through the Participant’s
Normal Retirement Date; provided, however, if the Disabled Participant was serving
as the Chief Executive Officer of the Company (the “CEO”) on January 1, 2006, the disability
benefit for the CEO shall be a Monthly Benefit commencing on the first day of the month following
the CEO’s Normal Retirement Date and payable for life, with a period of 15 years certain, equal to
60% of the CEO’s Monthly Pay, as determined on the date of the CEO’s Permanent Disability,
multiplied by a fraction, the numerator of which shall be the CEO’s actual Years of Service
(including fractional years) with the Company at the date of the Permanent Disability and the
denominator of which shall be the number of Years of Service (including fractional years) that the
CEO would have completed had he remained in continuous employment with the Company through the
CEO’s Normal Retirement Date. If a Participant decides to defer his/her retirement until after the
Normal Retirement Date and becomes Permanently Disabled after the Normal Retirement Date, the
Monthly Benefit shall begin the first day of the month following the date Participant was declared
to be Permanently Disabled, and the period of 10 years certain (15 years certain in the case of the
CEO) shall be reduced by the number of years which Participant worked beyond the Normal Retirement
Date until he/she became Permanently Disabled. Thus, for example purposes only, if Participant
other than the CEO becomes Permanently Disabled while fully employed 3 years after his Normal
Retirement Date, he shall receive a Monthly Benefit beginning the first day of the month following
the date he was declared to be Permanently Disabled and payable for life, with a period of 7 years
certain.

     4.5 Benefit Following a Change In Control. If a Participant’s employment with the Company is
terminated, voluntarily or involuntarily, (for reasons other than death, Permanent Disability, or
normal or early retirement) within 3 years following a Change in Control, the Company shall pay to
the Participant in a single lump-sum payment within 75 days of such termination, an amount equal to
the Actuarial Equivalent value of the Monthly Benefit that would have been paid at the
Participant’s Normal Retirement Date, using the Participant’s Monthly Pay at the time of
termination, multiplied by a fraction, the numerator of which shall be the actual Years of Service
(including fractional years) with the Company and the denominator of which shall be the number of
Years of Service (including fractional years) that the Participant would have completed had he
remained in continuous employment with the Company through the Participant’s Normal Retirement
Date.

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     4.6 Survivor Benefit.

	 	(a)	 	In the event a Participant dies while receiving benefits
under the Plan and prior to receiving 120 monthly payments (180 monthly
payments in the case of Dr. Reilly), the Monthly Benefit shall be continued to
the Participant’s named beneficiary for the balance of the 120 months (180
months in the case of Dr. Reilly) remaining to be paid at the time of the
Participant’s death.
	 
	 	(b)	 	If a Participant dies while employed by the Company and prior
to the commencement of the payment of benefits under the Plan, the
Participant’s named beneficiary shall receive a Monthly Benefit equal to 35%
of the Participant’s Monthly Pay; provided, however, if the deceased
Participant was the Chief Executive Officer of the Company on January 1, 2006,
the Monthly Benefit payable to such Participant’s named beneficiary shall be
equal to 60% of the Participant’s Monthly Pay. The Monthly Benefit shall
commence within 75 days of the Participant’s death and be payable for 120
months (180 months in the case of Dr. Reilly).
	 
	 	(c)	 	The Participant may designate a beneficiary or beneficiaries
to receive any benefits payable under this Plan after the death of the
Participant. Such designation, to be effective, shall be in writing, signed
by the Participant and delivered to the Committee before the Participant’s
death. If a Participant fails to name a beneficiary, or if all named
beneficiaries predecease the Participant, then the Participant’s named
beneficiary shall be deemed to be the person or persons surviving Participant
in the first of the following classes in which there is a survivor, share and
share alike:

	 	(i)	 	The surviving spouse;
	 
	 	(ii)	 	The Participant’s children, except that if
any of the children
	 
	 	 	 	predecease the Participant but leave issue surviving, then such
issue shall take by right of representation the share their parent
would have taken if living;
	 
	 	(iii)	 	The personal representative (executor or
administrator) of
Participant’s estate.

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	 	(d)	 	If the Participant’s beneficiary should die after the
Participant but before the complete distribution of the death benefit that
such beneficiary is entitled pursuant to the Plan, the balance of such benefit
shall be paid to any contingent beneficiary designated by the Participant in
the beneficiary designation on file with the Committee or, in the absence of
the designation of a contingent beneficiary, to the estate of the primary
beneficiary.

     4.7 Payment of Benefits. Except as provided in Section 4.5, payment of benefits shall be in
equal monthly installments commencing on the first day of the month following the date of payment
specified by the Plan. If a Participant does not satisfy the conditions of this Section 4, no
benefit shall be payable on the Participant’s account.

     4.8 Tax Withholding. The benefit payments under this Plan shall be subject to all tax payment
and withholding requirements of federal, state and local laws, and the Company shall withhold from
any benefit payment and remit to the proper governmental agency, all income, FICA or other taxes
that are required to be withheld.

Section 5. Funding

This Plan shall be unfunded, except as specifically provided herein. The Participants in this Plan
shall be no more than general, unsecured creditors of the Company with regard to the benefits
payable pursuant to this Plan. The Company may establish a trust to provide the benefits under
this Plan. Such trust shall be subject to all of the provisions of this Plan and shall be the
property of the Company, until distributed, and subject to the Company’s general, unsecured
creditors and judgment creditors. Such trust shall not be deemed to be collateral security for
fulfilling any obligation of the Company to the Participants. The Company may also purchase
insurance to fund the benefits provided by the Plan. Such insurance shall be held by and be an
asset of the Company (or a trust described herein) and the Participant shall have no rights with
respect to such insurance.

Section 6. Claims Procedure

A Participant or Beneficiary who has not received benefits under the Plan that such claimant
believes should be paid shall make a claim for such benefits in accordance with the procedures of
this Section. Upon receipt of a claim, the Committee shall respond within ninety (90) days after
receiving the claim. The Committee may extend the reply period for an additional ninety (90) days
for reasonable cause.

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Any Participant or Beneficiary whose claim for benefits under the Plan has been denied by the
Committee shall receive a written notice setting forth the specific reasons for such denial, a
specific reference to Plan provisions on which such denial is based, a description of any
additional material or information necessary for the claimant to perfect the claim and an
explanation of why such material or information is necessary, an explanation of the Plan’s claims
review procedure and the time limits applicable to such procedure, and a statement of the
claimant’s right to bring a civil action under Section 502(a) of the Employee Retirement Income
Security Act of 1974 (‘ERISA’). Thereafter, upon the filing of a written request by such person no
later than sixty (60) days after receipt of the written notification of denial, any decision
resulting in a denial of a claim may be appealed to the Committee for a full review. In
conjunction with the appeal, a claimant or his duly authorized representative may review pertinent
documents and may submit written comments, documents, records and other information relating to the
claimant’s claim. The Committee will also provide to the claimant, upon request and free of
charge, reasonable access to, and copies of all documents, records and other information relevant
(as defined in applicable ERISA regulations) to the claim for benefits.

A decision shall be made by the Committee not later than sixty (60) days after the Plan’s receipt
of a request for review unless the Committee notifies the claimant, in writing, of special
circumstances requiring an additional amount of time for making the decision, but not to exceed
sixty (60) additional days. The notice of any extension shall set forth the special circumstances
and the date by which the Committee expects to render its decision. The decision by the Committee
on review shall be in writing and shall include specific reasons for the decision, written in a
manner calculated to be understood by the claimant, and specific references to the pertinent Plan
provisions on which the decision is based. The decision shall also include a statement that the
claimant is entitled to receive, upon request and free of charge, reasonable access to, and copies
of, all documents, records and other information relevant (as defined in applicable ERISA
regulations) to the claimant’s claims for benefits and a statement of the claimant’s right to bring
a civil action under Section 502(a) of ERISA.

Section 7. Miscellaneous

     7.1 Nonalienation of Benefits. No benefit payable under this Plan shall be subject at any
time and in any manner, to alienation, sale, transfer, assignment, pledge or encumbrance of any
kind. No benefit provided by this Plan shall, prior to actual payment, be subject to seizure or
sequestration for the payment of any debts, judgments, alimony or separate maintenance owed by a
Participant or any other person, nor be transferable by operation of law in the event of the
Participant’s or any other person’s bankruptcy or insolvency.

     7.2 Amendment and Termination. The Board of the Company may at any time amend the Plan in
whole or in part; provided, however, that no

9

 

amendment shall adversely affect the right of a Participant or a Participant’s named
beneficiary to a Monthly Benefit to which a Participant was or would have been entitled if the
Participant’s employment was terminated immediately prior to the Plan amendment or termination;
provided, further, that no amendment shall change or accelerate the payment date(s)
for a Monthly Benefit except as may be permitted under Section 409A of the Internal Revenue Code.
The Plan may be amended at any time as may be necessary or appropriate to comply with the
applicable requirements of Section 409A of the Internal Revenue Code to assure that the Plan
Benefit is not includable in any of the Participant’s gross income before being paid pursuant to
the Plan or otherwise subject to additional taxes and interest penalties under Section 409A of the
Internal Revenue Code.

     The Board of the Company may at any time terminate the Plan if, in its judgment, the
continuance of the Plan, the tax, accounting, or other effects thereof, or potential payments
thereunder would not be in the best interests of the Company. The Board of the Company may also
terminate the Plan upon the occurrence of an event which permits a termination of the Plan under
Section 409A of the Internal Revenue Code and the regulations and other guidance issued thereunder,
provided all conditions under said Section 409A and the regulations for such termination are
satisfied and, upon any such termination, all Participants under the Plan shall be paid the
Actuarial Equivalent value of the Monthly Benefit that would have been paid at the Participants’
Normal Retirement Date in a lump sum payment within such period of time as may be required under
Section 409A of the Internal Revenue Code and the regulations thereto.

     7.3 Not a Contract of Employment. The terms and conditions of this Plan shall not be deemed
to constitute a contract of employment between the Company and any Participant, and nothing in this
Plan shall be deemed to give a Participant the right to be retained in the service of the Company
or to interfere with the right of the Company to discipline or discharge the Participant at any
time.

     7.4 Participation in Other Plans. Nothing contained in this Plan shall be construed to alter,
abridge, or in any manner affect the rights and privileges of a Participant to participate in and
be covered by any other retirement or welfare benefit plan which the Company now or hereafter
sponsors: provided, however, in no event shall any amounts deferred under the Plan
be considered as compensation for purposes of determining benefits under the Company’s other
employee benefit plans unless the terms of such Plan expressly include such deferrals or benefits
as compensation.

     7.5 Incompetent Payee. In the event that it shall be found upon evidence satisfactory to the
Committee that any Participant or beneficiary to whom a benefit is payable under this Plan is
unable to care for his or her affairs because of illness or accident, any payment due (unless prior
claim therefor shall have been made by a duly authorized guardian or other legal representative)

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may be paid, upon appropriate indemnification of the Company and the Committee, to the spouse or
other person deemed by the Committee to have incurred expense for such Participant or beneficiary.
Any such payment shall be a payment for the account of the Participant or beneficiary and shall be
a complete discharge of any liability of the Company therefor.

     7.6 Applicable Law. The Plan and all rights hereunder shall be governed by the laws of
Nebraska.

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