Document:

ex10_5.htm

    
      

    

    EXHIBIT
10.5

    AMENDMENT

    TO
THE

    BIG
LOTS, INC. AMENDED AND RESTATED DIRECTOR STOCK OPTION PLAN

    

    This
Amendment to the Big Lots, Inc. Amended and Restated Director Stock Option Plan
(“Amendment”) is made effective as of March 5, 2008.

    

    WHEREAS,
Big Lots, Inc. (“Company”) adopted the Big Lots, Inc. Amended and Restated
Director Stock Option Plan (“Plan”);

    

    WHEREAS,
the Board believes that it is in the best interest of the Company and desires to
amend the Plan to: (i) allow all Plan participants one (1) year after
termination of service as an Outside Director to exercise all of the
participant’s vested Options; and (ii) accelerate all of the Plan participant’s
unvested stock options upon (a) the participant’s death or permanent and total
disability while serving as an Outside Director or (b) reaching the date of the
Company’s annual meeting of shareholders next following the participant’s
70th
birthday while serving as an Outside Director;

    

    WHEREAS,
the acceleration upon reaching the date of the Company’s annual meeting of
shareholders next following the Plan participant’s 70th
birthday shall not be dependent upon the Outside Director’s reelection at or
continued service beyond such annual meeting of shareholders;

    

    WHEREAS,
pursuant to Section 16 of the Plan, the Company may amend the Plan at any time,
except that no amendment to the Plan shall be made within six (6) months of any
previous amendment and that no amendment shall be made without the approval of
the Company’s shareholders if such amendment would (i) cause the Plan not to
comply with Rule 16(b)-3 under the Securities Exchange Act of 1934 or (ii) cause
the Common Stock of the Company to be delisted upon any stock exchange;
and

    

    WHEREAS,
such amendments are not prohibited by the Plan, such amendments do not
constitute material modifications under Section 162(m) of the Internal Revenue
Code or the applicable rules of the New York Stock Exchange, and such amendments
do not require shareholder approval.

    

    NOW, THEREFORE, the Company, acting
through its Board of Directors, amends the Plan as follows:

    

    
      	
              1.

            	
              Defined
      Terms; References.  Capitalized
      terms used but not otherwise defined in this Amendment shall have the
      respective meanings ascribed to them in the Plan.  Each
      reference to “hereof,” “hereunder,” “herein,” “hereby,” and similar
      references contained in the Plan, and each reference to “the Plan” and
      similar references contained in the Plan, shall refer to the Plan as and
      to the extent amended hereby.

            

    

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    
      	
              2.

            	
              Amendment
      of Plan.

            

    

     

    
      	
               
      

            	
              a.

            	
              The
      third and fourth paragraphs of Section 9 of the Plan are hereby deleted in
      their entirety and restated as
follows:

            

    

     

    Notwithstanding
anything to the contrary in this Plan, all unvested Options shall immediately
become Vested upon (a) the participant’s death or permanent and total disability
(within the meaning of Section 22(e)(3) of the Code) while serving as an Outside
Director or (b) reaching the date of the Company’s annual meeting of
shareholders next following the participant’s 70th
birthday while serving as an Outside Director.

     

    
      	
               
      

            	
              If
      a participant to whom an Option has been granted shall die or become
      permanently and totally disabled (within the meaning of Section 22(e)(3)
      of the Code) while serving as an Outside Director or otherwise cease to be
      an Outside Director, such Option may be exercised by the participant or
      the participant’s personal representative only within one (1) year after
      the date the participant died, became permanently and totally disabled or
      otherwise ceased to be an Outside Director (but no later than the end of
      the fixed term of the Option) and only for the number of shares of Common
      Stock for which the Option could have been exercised at the time the
      participant died, became permanently and totally disabled or otherwise
      ceased to be an Outside Director.

            

    

     

     

    
      	
              3.

            	
              Effectiveness
      of Amendment.  This
      Amendment shall become effective as of the Effective Date.  Upon
      and to the extent of the effectiveness hereof, the Plan shall be amended
      hereby in accordance with the terms hereof, and this Amendment and the
      Plan shall hereafter be one agreement and any reference to the Plan in any
      document, instrument, or agreement shall hereafter mean and include the
      Plan as amended hereby.  In the event of irreconcilable
      inconsistency between the terms or provisions hereof and the terms or
      provisions of the Plan, the terms and provisions hereof shall
      control.  Except as specifically amended by the provisions
      hereof, the Plan shall remain in full force and
  effect.

            

    

     

     

    IN
WITNESS WHEREOF, this Amendment is hereby adopted by the Company.

     

    

    
      	 
      	
              BOARD
      OF DIRECTORS OF

            
	 
      	
              BIG
      LOTS, INC.

            
	 
      	 
      	 
      
	 
      	
              By:
      

            	
              /s/ Steven S. Fishman

            
	 
      	
              Name:
      

            	
              Steven S. Fishman

            
	 
      	
              Title:
      

            	
              Chairman, CEO and
  President</title>
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4.4</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 18pt; FONT-FAMILY: Times New Roman, serif">STAGE
STORES, INC.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 18pt; FONT-FAMILY: Times New Roman, serif">NONQUALIFIED
DEFERRED COMPENSATION PLAN</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 18pt; FONT-FAMILY: Times New Roman, serif">as
Amended and Restated</font></div>
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    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br>
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    <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">ARTICLE
I</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">Purpose</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">1.1.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Purpose
of Plan.&#160;&#160;The purpose of the Stage Stores, Inc. Nonqualified Deferred
Compensation Plan (the &#8220;Plan&#8221;) is to advance the interests of Specialty
Retailers, Inc. (the &#8220;Employer&#8221;) and Stage Stores, Inc. and its subsidiaries and
affiliates (hereinafter sometimes collectively or individually referred to as
the &#8220;Company&#8221;), and of its owners by attracting and retaining in its employ
highly qualified individuals for the successful conduct of its
business.&#160;&#160;The Company hopes to accomplish these objectives by helping
to provide for the retirement of its key employees selected to participate in
the Plan.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">1.2.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;ERISA
Status.&#160;&#160;The Plan is intended to qualify for certain exemptions under
Title I of the Employee Retirement Income Security Act of 1974, as amended
(&#8220;ERISA&#8221;), provided for plans that are unfunded and maintained primarily for the
purpose of providing deferred compensation for a select group of management or
highly compensated employees.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">1.3.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Effective
Date.&#160;&#160;This Plan was adopted effective January 1, 2002.&#160;&#160;The
Company hereby amends and restates the Plan effective June 5,
2008.&#160;&#160;This amendment and restatement only applies to the amounts
deferred under the Plan on or after January 1, 2005, and to amounts deferred
prior to January 1, 2005 that were not vested as of December 31,
2004.&#160;&#160;Amounts deferred under the Plan prior to January 1, 2005 that
were vested as of December 31, 2004 (the &#8220;Grandfathered Amounts&#8221;) shall be
subject to the provisions of the Plan as in effect on October 3,
2004.&#160;&#160;It is intended that the Grandfathered Amounts are to remain
exempt from the requirements of Section 409A of the Code.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">1.4.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Grantor
Trust.&#160;&#160;The Company may, but is not obligated, to establish at any
time, in its sole discretion, a grantor trust to be utilized in conjunction with
this Plan.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><br></div>
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of Participants.&#160;&#160;With respect to each Plan Year or portion thereof,
the Committee shall select, in its discretion, those employees of the Company
approved to participate in the Plan, which individuals will then become
Participants hereunder.</font><br><br>
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II</font><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">Definitions</font><br></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">2.1.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#8220;Account&#8221;
means collectively the Participant&#8217;s Employer Account and the Participant&#8217;s
Employee Account.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">2.2.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#8220;Beneficiary&#8221;
means the person designated by each Participant, on a form provided by the
Committee for this purpose, to receive the Participant&#8217;s distribution under this
Plan in the event of the Participant&#8217;s death prior to receiving complete payment
of his Vested Account.&#160;&#160;In order to be effective under this Plan, any
form designating a Beneficiary must be delivered to the Committee before the
Participant&#8217;s death. In the absence of such an effective designation of a
Beneficiary, &#8220;Beneficiary&#8221; means the Participant&#8217;s spouse or, if there is no
spouse on the date of Participant&#8217;s death, the Participant&#8217;s
estate.</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">2.3.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#8220;Board&#8221;
means the Board of Directors of the Company or the board of directors of a
company that is a successor to the Company.</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">2.4.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#8220;Bonus&#8221;
means any merit bonus paid to a Participant under any plan, policy or program of
the Company providing for the payment of bonuses to employees, without taking
into account any reductions of such Bonus (e.g., 401(k) Plan reductions,
etc.).</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">2.5.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#8220;Change
in Control&#8221; shall be deemed to have occurred:</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">&#160;&#160;&#160;&#160;
(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;on such
date within the 12-month period following the date that any one person, or more
than one person acting as a group (as defined in &#167;1.409A-3(i)(5)(v)(B) of the
Treasury Regulations), acquires ownership of stock that represents twenty-five
percent (25%) or more of the combined voting power of the Company&#8217;s then
outstanding securities (the &#8220;Trigger Date&#8221;), that a majority of the individuals
who, as of the Trigger Date, constitute the Board (the &#8220;Incumbent Board&#8221;) are
replaced by new members whose appointment or election is not endorsed by a
majority of the members of the Incumbent Board before the date of such
appointment or election;</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">&#160;&#160;&#160;&#160;
(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;as of
the<font style="DISPLAY: inline; FONT-WEIGHT: bold">&#160;</font>date that any
one person, or more than one person acting as a group (as defined in
&#167;1.409A-3(i)(5)(v)(B) of the Treasury Regulations), acquires ownership of stock
that, together with stock held by such person or group, constitutes more than
50%&#160;of either<font style="DISPLAY: inline; FONT-WEIGHT: bold"> (</font>1)
the then outstanding shares of common stock of the Company or <font style="DISPLAY: inline; FONT-WEIGHT: bold">(</font>2) the combined voting power
of the then outstanding voting securities of the Company entitled to vote
generally in the election of directors; provided, however, if any one person or
more than one person acting as a group, is considered to own more than fifty
percent (50%) of the total fair market value or total voting power of the stock
of the Company, the acquisition of additional stock by the same person or
persons shall not be considered to cause a Change in Control; or</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">&#160;&#160;&#160;&#160;
(c)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;the date
any one person, or more than one person acting as a group (as defined in
&#167;1.409A-3(i)(5)(v)(B) of the Treasury Regulations), acquires (or has acquired
during the 12-month period ending on the date of the most recent acquisition by
such person or persons) all, or substantially all, of the assets of the Company,
except for any sale, lease exchange or transfer resulting from any action taken
by any creditor of the Company in enforcing its rights or remedies against any
assets of the Company in which such creditor holds a security
interest.&#160;&#160;Provided further, a transfer of assets by the Company shall
not be treated as a Change in Control if the assets are transferred
to:</font></div><br>
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</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 27pt; TEXT-INDENT: 108pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">(i)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
&#160;&#160;A shareholder of the Company (immediately before the asset transfer)
in exchange for or with respect to its stock;</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 27pt; TEXT-INDENT: 108pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">(ii)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
&#160;An entity, 50% or more of the total value or voting power of which is
owned, directly or indirectly, by the Company;</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 27pt; TEXT-INDENT: 108pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">(iii)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;A
person, or more than one person acting as a group, that owns, directly or
indirectly, 50% or more of the total value or voting power of all the
outstanding stock of the Company; or</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 27pt; TEXT-INDENT: 108pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">(iv)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;An
entity, at least 50% of the total value or voting power of which is owned,
directly or indirectly, by a person described in paragraph (iii)
herein.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">For
purposes of subsection (c) and except as otherwise provided in paragraph (i), a
person&#8217;s status is determined immediately after the transfer of the
assets.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">2.6.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#8220;Code&#8221;
means the Internal Revenue Code of 1986, as amended.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">2.7.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#8220;Committee&#8221;
means the committee appointed by the Employer to administer the
Plan.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">2.8.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#8220;Compensation&#8221;
means the base compensation paid by the Company to a Participant for services
rendered while a Participant, including but not limited to, regular base salary,
any amounts deferred by the Participant under this Plan, elective contributions
made on the Participant&#8217;s behalf pursuant to a 401(k) Plan or a plan maintained
under Section 125 of the Code, and any other reductions of such Participant&#8217;s
remuneration, but excluding any Bonus.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">2.9.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#8220;Deemed
Investments&#8221; means, with respect to any Account, the hypothetical investment
options with respect to which such Account is deemed to be invested for purposes
of determining the value of such Account under this Plan.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">2.10.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#8220;Disability&#8221;
means the Participant is unable to engage in any substantial gainful activity by
reason of any medically determinable physical or mental impairment that can be
expected to result in death or last for a continuous period of not less than 12
months.&#160;&#160;The Committee shall determine whether the Participant meets
this criteria in accordance with Section 409A of the Code.&#160;&#160;Provided,
a Participant will be deemed to be Disabled if the Participant becomes eligible
to receive disability benefits under the long-term disability benefit plan
sponsored by the Company.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">2.11.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#8220;Employee
Account&#8221; means the bookkeeping account maintained by the Committee reflecting
each Participant&#8217;s Employee Contributions, together with any hypothetical
income, gain or loss and any payments or distributions attributable to such
bookkeeping account.</font></div><br>
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    </div><br>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">2.12.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#8220;Employee
Contribution&#8221; means the Compensation and/or Bonus that is credited, as a
bookkeeping entry, to a Participant&#8217;s Employee Account pursuant to the
provisions of Section 3.2.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">2.13.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#8220;Employer
Account&#8221; means the bookkeeping account maintained by the Committee reflecting
each Participant&#8217;s Employer Contributions, together with any hypothetical
income, gain or loss and any payments or distributions attributable to such
bookkeeping account.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">2.14.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#8220;Employer
Contribution&#8221; means the total contributions credited to a Participant&#8217;s Employer
Account for any one Plan Year pursuant to the provisions of Section
3.1.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">2.15.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#8220;401(k)
Plan&#8221; means the Stage Stores, Inc. 401(k) Plan.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">2.16.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#8220;Hardship&#8221;
means an unforeseeable financial emergency which is a severe financial hardship
to the Participant resulting from a sudden and unexpected loss or accident of
the Participant or of a dependent of the Participant, a loss of the Participant
due to casualty, or other similar extraordinary and unforeseeable circumstances
arising as a result of events beyond the control of the
Participant.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">2.17.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#8220;Participant&#8221;
means an employee of the Company who has been selected to participate in the
Plan.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">2.18.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#8220;Plan&#8221;
means this Stage Stores Nonqualified Deferred Compensation Plan and any
amendments hereto.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">2.19.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#8220;Plan
Year&#8221; means the 12-month period beginning January 1 and ending December
31.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">2.20.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#8220;Separation
from Service&#8221; means a Participant incurs a Separation from Service upon
termination of employment with the Company.&#160;&#160;Whether a Separation from
Service has occurred shall be determined by the Committee in accordance with
Code Section 409A.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">2.21.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#8220;Specified
Employee&#8221; means those employees of the Company who are determined by the
Committee to be a &#8220;specified employee&#8221; in accordance with I.R.C. &#167;409A and the
regulations promulgated thereunder.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">2.22.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#8220;Vested
Account&#8221; means the sum of the Participant&#8217;s Vested Employer Account and the
Participant&#8217;s Employee Account.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">2.23.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#8220;Vested
Employer Account&#8221; means the Employer Account multiplied by the Vested
Percentage.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">2.24.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#8220;Vested
Percentage&#8221; means the percentage as to which a Participant is vested in his or
her Employer Account as determined under Section 4.4.</font></div><br>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">ARTICLE
III</font><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">Contributions</font><br></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">3.1.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Employer
Contributions.&#160;&#160;For each Plan Year for which a Participant elects to
make Employee Contributions, the Company shall credit, as a bookkeeping entry to
such Participant&#8217;s Employer Account, an Employer Contribution in an amount as
described herein.&#160;&#160;For the 2002 Plan Year, the Employer Contribution
shall be equal to one dollar for every dollar credited as an Employee
Contribution up to ten percent (10%) of the Participant&#8217;s Compensation and 10%
of the Participant&#8217;s Bonus paid in such Plan Year; or such greater percentage as
determined in the sole discretion of the Committee.&#160;&#160;For subsequent
Plan Years, the Committee shall provide advance written notice to Participants
of the amount of such Employer Contribution for such Plan Year.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">In
addition, the Company may, in its sole discretion, make an additional Employer
Contribution in any amount with respect to any Participant as it shall determine
in its sole discretion.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">Employer
Contributions shall be credited to the Participant&#8217;s Employer Account at such
time as the Committee may prescribe.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">3.2.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Employee
Contributions/Deferrals.&#160;&#160;For each Plan Year, the Committee may, in
its sole discretion, allow a Participant to elect to defer the present payment
by the Company of up to fifty percent (50%) of the Participant&#8217;s Compensation
otherwise paid during such Plan Year, and up to one hundred percent (100%) of
the Participant&#8217;s Bonus otherwise earned during such Plan Year, and instead,
have that amount credited as a bookkeeping entry to the Participant&#8217;s Employee
Account. The Compensation and/or Bonus otherwise payable to the Participant
shall be reduced by the amount of such Participant&#8217;s Employee Contribution that
the Participant deferred on an applicable deferral election.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">3.3.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Manner
of Deferral Election.&#160;&#160;The Committee shall prescribe, in its sole
discretion, the procedures, limitations and timing requirements, for Employee
Contribution elections in compliance with Section 409A of the
Code.&#160;&#160;Elections to make Employee Contributions shall be in writing,
on a form supplied by the Committee, and shall be irrevocable (except as
otherwise provided in the Plan) for the applicable period to which it
relates.&#160;&#160;Elections to make Employee Contributions must be filed
before December 31 of the year immediately preceding the Plan Year in which the
election is to apply.&#160;&#160;Such Employee Contribution election shall
remain in force and effect for the applicable period to which such election
relates and all subsequent Plan Years he/she is a Participant unless revoked
prior to December 31 of the year immediately preceding the Plan Year in which
the revocation is to apply.</font></div><br>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">ARTICLE
IV</font><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">Accounts</font><br></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">4.1.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Employer
Accounts.&#160;&#160;The Committee shall establish and maintain an individual
bookkeeping account for each Participant, which shall be the Participant&#8217;s
Employer Account.&#160;&#160;The Committee shall credit, as a bookkeeping entry,
the amount of each Employer Contribution made on behalf of a Participant to such
Participant&#8217;s Employer Account at such times as determined by the
Committee.&#160;&#160;The Committee shall further adjust the Participant&#8217;s
Employer Account with any hypothetical income, gain or loss and any payments or
distributions attributable to such Account on a daily basis, or at such other
times as it shall determine.&#160;&#160;The Company shall not be required to
segregate any of its assets with respect to the Employer Accounts, nor shall any
provision of the Plan be construed as constituting such
segregation.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">4.2.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Employee
Accounts.&#160;&#160;The Committee shall establish and maintain an individual
bookkeeping account for each Participant, which shall be the Participant&#8217;s
Employee Account.&#160;&#160;The Committee shall credit, as a bookkeeping entry,
the amount of each Employee Contribution made on behalf of a Participant to such
Participant&#8217;s Employee Account as soon as administratively feasible following
the applicable deferral.&#160;&#160;The Committee shall further adjust the
Participant&#8217;s Employee Account with any hypothetical income, gain or loss and
any payments or distributions attributable to such Account on a daily basis, or
at such other times as it shall determine.&#160;&#160;The Company shall not be
required to segregate any of its assets with respect to the Employee Accounts,
nor shall any provision of the Plan be construed as constituting such
segregation.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">4.3.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Hypothetical
Accruals to the Account.&#160;&#160;In accordance with procedures established by
the Committee, the Participant may designate the Deemed Investments with respect
to which his or her Account shall be deemed to be invested.&#160;&#160;If a
Participant fails to make a proper designation, then his Account shall be deemed
invested in the Deemed Investments designated by the Committee in a uniformly
non-discriminatory manner.&#160;&#160;A Participant may change such designation
with respect to future Employer Contributions and Employee Contributions, as
well as with respect to amounts already credited to his Account, provided such
change(s) are made in accordance with the procedures established by the
Committee.&#160;&#160;A copy of any available prospectus or other disclosure
materials for each of the Deemed Investments shall be made available to each
Participant upon request.&#160;&#160;The Committee shall determine from time to
time each of the Deemed Investments made available under the Plan and may change
any such determinations at any time.&#160;&#160;Nothing herein shall obligate
the Company to invest any part of its assets in any of the investment vehicles
serving as the Deemed Investments.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">4.4.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Vesting:
Employer Account.&#160;&#160;Employer Contributions shall be 100%
vested.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">4.5.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Vesting:&#160;&#160;Employee
Account.&#160;&#160;Employee Contributions shall be 100% vested.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">4.6.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Nature
and Source of Payments.&#160;&#160;The obligation to make distributions under
this Plan with respect to each Participant shall constitute a liability of the
Company to the Participant and any Beneficiary in accordance with the terms of
this Plan.&#160;&#160;All distributions payable hereunder shall be made from the
general assets of the Company, and nothing herein shall be deemed to create a
trust of any kind between the Company and any Participant or other
person.&#160;&#160;No special or separate fund need be established nor need any
other segregation of assets be made to assure that distributions will be made
under this Plan.&#160;&#160;No Participant or Beneficiary shall have any
interest in any particular asset of the Company by virtue of the existence of
this Plan.&#160;&#160;Each Participant and Beneficiary shall be an unsecured
general creditor of the Company.</font></div><br>
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      </div>
    </div><br>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">4.7.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Statements
to Participants.&#160;&#160;Periodically as determined by the Committee, but not
less frequently than annually, the Committee shall transmit to each Participant
a written statement regarding the Participant&#8217;s Account for the period beginning
on the date following the effective date of the preceding statement and ending
on the effective date of the current statement.</font></div><br>
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      </div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">ARTICLE
V</font><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">Distributions</font><br></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">5.1.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Distribution
Events.&#160;&#160;Unless distributed under a hardship distribution, the Company
shall distribute a Participant&#8217;s Vested Account in the manner set forth in this
Article V upon the earlier to occur of the following events: (i) Separation from
Service; (ii) Disability; (iii) death or (iv) Change in Control.&#160;&#160;A
Participant&#8217;s Vested Account shall be debited in the amount of any distribution
made therefrom as of the date of the distribution.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">5.2.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Distribution
Elections.&#160;&#160;Subject to rules established by the Committee, a
Participant shall file a distribution election directing how his Vested Account
shall be distributed (lump sum or annual installments over 2-5 years) following
his Separation from Service with the Company.&#160;&#160;Such distribution
election must be made on a form supplied by the Committee for that
purpose.&#160;&#160;To be effective, such distribution election must be filed
prior to the beginning of the Plan Year in which the amount is
deferred.&#160;&#160;If no effective election form exists the distribution will
be in the form of a lump-sum payment equal to the Participant&#8217;s Vested
Account.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">5.3.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Distribution
Upon Separation from Service.&#160;&#160;Upon a Participant&#8217;s Separation from
Service with the Company, distribution shall commence within 30 days following
the first day of the seventh month following the Participant&#8217;s Separation from
Service.&#160;&#160;Such distribution(s) shall be in the form specified on the
applicable distribution election form.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">5.4.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Distribution
Upon a Change of Control.&#160;&#160;Plan Account balances will become payable
in the form of a lump sum within 30 days of the effective date of a Change of
Control.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">5.5.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Distribution
Upon Death.&#160;&#160;If a Participant dies with a balance credited to the
Participant&#8217;s Account, such balance shall be paid to the Participant&#8217;s
Beneficiary.&#160;&#160;If the Participant dies prior to the time of payment of
the Account, the then current balance of each of the Participant&#8217;s Account or
subaccount shall be paid to the Participant&#8217;s Beneficiary in a lump sum
commencing within 90 days of the date of the Participant&#8217;s death.&#160;&#160;If
payment of a Participant&#8217;s Account has commenced as of the date of the
Participant&#8217;s death, the then current balance of each Account or subaccount
payable to a Beneficiary shall be paid under the method designated for the
payment of such amount by the Participant commencing within 90 days of the date
of the Participant&#8217;s death.&#160;&#160;Each Beneficiary of a deceased
Participant who is eligible to receive payments under this Section shall have
the amounts to be paid to such Beneficiary allocated to a subaccount in the name
of the Beneficiary under the deceased Participant&#8217;s Account.&#160;&#160;Such
subaccount shall be adjusted from time to time as provided in Article
IV.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">5.6.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Distribution
Upon Disability.&#160;&#160;Upon a Participant&#8217;s Disability, distribution of
Participant&#8217;s Account shall commence within 30 days of the date of
Disability.&#160;&#160;Such distribution(s) shall be made in the form specified
in the applicable election form.&#160;&#160;In the absence of an effective
distribution election, payment will be made in the form of a lump
sum.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">5.7.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Continuation
of Hypothetical Accruals to the Vested Account after Commencement of
Distributions.&#160;&#160;If a Participant&#8217;s Vested Account is to be distributed
in a form other than a lump sum, then such Vested Account shall continue to be
adjusted for hypothetical income, gain or loss and any payment or distributions
attributable to the Vested Account as described in Section 4.1, 4.2, and 4.3,
until the entire Vested Account has been distributed.</font></div><br>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">5.8.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Hardship
Distribution.&#160;&#160;In the event that the Committee, upon the written
request of a Participant, determines in its sole discretion that such
Participant has incurred a Hardship, such Participant shall be entitled to
receive a distribution of some (or all) of the Participant&#8217;s Accounts, in an
amount not to exceed the lesser of (a) the amount determined by the Committee as
necessary to meet such Participant&#8217;s needs created by such Hardship or (b) the
then value of such Participant&#8217;s Vested Accounts.&#160;&#160;Such amount shall
be paid in a single lump sum payment as soon as administratively practicable
after the Committee has made its determination with respect to the availability
and amount of such Hardship benefit.&#160;&#160;Any Hardship distribution shall
cause the Participant to be suspended from participation in the Plan with
respect to future contributions for twelve (12) months following such Hardship
distribution.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">5.9.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Payment
to Specified Employees Upon Separation From Service.&#160;&#160;In no event
shall a Specified Employee receive a payment under this Plan following a
Separation from Service prior to the first business day of the seventh month
following the date of Separation from Service.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">5.10.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Changes
in Method of Payment.&#160;&#160;The method of payment may be changed from time
to time by the Participant, but in no event will such change be considered valid
if the change occurs within the twelve-month period prior to the date payment
would have otherwise commenced.&#160;&#160;Any requests to change the method of
payment will not take effect for twelve months following the date it is received
by the Committee and the first payment with respect to such election is deferred
for a period of five years from the date such payment would otherwise have been
made.&#160;&#160;Provided, however, during the 2008 Plan Year, distribution
elections may be revised without the limitations contained in this Section 5.10
so long as such change is made in accordance with the transition guidance
contained in Notice 2006-79.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">5.11.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Beneficiary
Designations.&#160;&#160;A Participant shall designate on a beneficiary
designation form a Beneficiary who, upon the Participant&#8217;s death, will receive
payments that otherwise would have been paid to him under the
Plan.&#160;&#160;All Beneficiary designations shall be in
writing.&#160;&#160;Any such designation shall be effective only if and when
delivered to the Committee during the lifetime of the Participant.&#160;&#160;A
Participant may change a Beneficiary or Beneficiaries by filing a new
beneficiary designation form.&#160;&#160;The latest beneficiary designation form
shall apply to the combined Accounts and subaccounts of the
Participant.&#160;&#160;If a Beneficiary of a Participant predeceases the
Participant, the designation of such Beneficiary shall be void.&#160;&#160;If a
Beneficiary to whom benefits under the Plan remain unpaid dies after the
Participant and the Participant failed to specify a contingent Beneficiary on
the appropriate beneficiary designation form, the remainder of such death
benefit payments shall be paid to such Beneficiary&#8217;s estate. If a Participant
fails to designate a Beneficiary with respect to any death benefit payments or
if such designation is ineffective, in whole or in part, any payment that
otherwise would have been paid to such Participant shall be paid to the
Participant&#8217;s estate.</font></div><br>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">ARTICLE
VI</font><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">Committee</font><br></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">6.1.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Authority.&#160;&#160;The
Committee shall have the authority, subject to the provisions of the Plan, to
establish, adopt and revise such rules and regulations, to provide and modify
administrative forms, and to make all such determinations relating to the Plan
as it may deem necessary or appropriate for the administration of the
Plan.&#160;&#160;The Committee may correct any defect or supply any omission or
reconcile any inconsistency in this Plan or any agreement or document related to
this Plan in the manner and to the extent the Committee deems necessary or
appropriate to carry this Plan into effect.&#160;&#160;The Committee&#8217;s
interpretation of the Plan, and all decisions and determinations by the
Committee with respect to the Plan, shall be final and binding on all
parties.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">6.2.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Delegation
of Authority.&#160;&#160;The Committee may delegate any of its powers or
responsibilities to one or more members of the Committee or any other person or
entity.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">6.3.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Procedures.&#160;&#160;The
Committee may establish procedures to conduct its operations and to carry out
its rights and duties under the Plan.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">6.4.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Compensation
and Expenses.&#160;&#160;The members of the Committee shall serve without
compensation for their services, but all expenses of the Committee and all other
expenses incurred in administering the Plan shall be paid by the
Company.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">6.5.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Indemnification.&#160;&#160;The
Company shall indemnify the members of the Committee and/or any of their
delegates against the reasonable expenses, including attorneys&#8217; fees, actually
and appropriately incurred by them in connection with the defense of any action,
suit or proceeding, or in connection with any appeal thereto, to which they or
any of them may be a party by reason of any action taken or failure to act under
or in connection with the Plan and against all amounts paid by them in
settlement thereof (provided such settlement is approved by independent legal
counsel selected by the Company) and against all amounts paid by them in
satisfaction of a judgment in any such action, suit or proceeding, except in
relation to matters as to which it shall be adjudged in a suit of final
adjudication that such Committee member is liable for fraud, deliberate
dishonesty or willful misconduct in the performance of his duties; provided that
within 30 days after the institution of any such action, suit or proceeding a
Committee member has offered in writing to allow the Company, at its own
expense, to handle and defend any such action, suit or proceeding.&#160;&#160;To
the extent the Company elects to handle and defend any such action, suit or
proceeding, this indemnity shall not apply to any legal fees or expenses
incurred thereafter by any Committee member unless the Company in writing
specifically authorizes such legal fees.</font></div><br>
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    </div><br>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">ARTICLE
VII</font><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">Amendment
and Termination</font><br></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">7.1.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Power
to Amend and/or Terminate Reserved.&#160;&#160;The Company retains the
unilateral power to amend the Plan, or to terminate the Plan at any
time.&#160;&#160;Without the consent of affected Participants or Beneficiaries,
no such amendment or termination shall adversely affect any Participants or
Beneficiaries with respect to their right to receive the value of the applicable
Vested Accounts, determined as of the later of the date that the Plan amendment
or termination is adopted or by its terms to be
effective.&#160;&#160;Notwithstanding the foregoing, the following special
provisions shall apply:</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">&#160;&#160;&#160;
(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Termination
in the Discretion of the Company.&#160;&#160;Except as otherwise provided in
Section 7.1(b), the Company in its discretion may terminate the Plan and
distribute benefits to Participants subject to the following requirements and
any others specified under Section 409A of the Code:</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 27pt; TEXT-INDENT: 108pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">(i)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
&#160;&#160;All arrangements sponsored by the Company that would be aggregated
with the Plan under Section 1.409A-1(c) of the Treasury Regulations are
terminated.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 27pt; TEXT-INDENT: 108pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">(ii)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
&#160;&#160;&#160;No payments other than payments that would be payable under
the terms of the Plan if the termination had not occurred are made within 12
months of the termination date.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 27pt; TEXT-INDENT: 108pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">(iii)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;All
benefits under the Plan are paid within 24 months of the termination
date.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 27pt; TEXT-INDENT: 108pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">(iv)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;The
Company does not adopt a new arrangement that would be aggregated with the Plan
under Section 1.409A-1(c) of the Treasury Regulations providing for the deferral
of compensation at any time within 3 years following the date of termination of
the Plan.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 27pt; TEXT-INDENT: 108pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">(v)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
&#160;&#160;&#160;The termination does not occur proximate to a downturn in the
financial health of the Company.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">&#160;&#160;&#160;
(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Termination
Upon Change in Control Event.&#160;&#160;If the Company terminates the Plan
within thirty days preceding or twelve months following a Change in Control
Event, the Account of each Participant shall become fully vested and payable to
the Participant in a lump sum within twelve months following the date of
termination, subject to the requirements of Section 409A of the
Code.</font></div><br>
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        <div style="WIDTH: 100%; TEXT-ALIGN: center">
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        </div>
      </div>
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      </div>
    </div><br>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">ARTICLE
VIII</font><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">Miscellaneous</font><br></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">8.1.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Plan
Does Not Affect the Rights of Employee.&#160;&#160;Nothing contained in this
Plan shall be deemed to give any Participant the right to be retained in the
employment of the Company, to interfere with the rights of the Company to
discharge any Participant at any time, or to interfere with a Participant&#8217;s
right to terminate his/her employment at any time.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">8.2.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Nonalienation
and Nonassignment.&#160;&#160;Except for debts owed the Company by a Participant
or Beneficiary, no amounts payable or to become payable under the Plan to a
Participant or Beneficiary shall be subject in any manner to anticipation,
alienation, sale, transfer, assignment, pledge, encumbrance or charge, whether
voluntary, involuntary, by operation of law or otherwise, and any attempt to so
anticipate, alienate, sell, transfer, assign, pledge, encumber or charge the
same by a Participant or Beneficiary prior to distribution as herein provided
shall be null and void.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">8.3.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Tax
Withholding on Payments.&#160;&#160;The Company shall have the right to deduct
from any payments to a Participant or Beneficiary under the Plan any taxes
required by law to be withheld with respect to such payments.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">8.4.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;FICA
Withholding/Employee Contributions/Employer Contributions.&#160;&#160;For each
payroll period, the Company shall withhold from that portion of the
Participant&#8217;s Compensation and/or Bonus that is not being deferred under this
Plan, the Participant&#8217;s share of FICA and other applicable taxes that are
required to be withheld with respect to (i) Employee Contributions, and (ii)
Employer Contributions as they vest and become subject to such FICA
withholding.&#160;&#160;To the extent that there are insufficient funds to
satisfy all applicable tax withholding requirements in a timely manner, the
Company reserves the right to reduce the Participant&#8217;s Employee Contributions,
or in the absence of such contributions, to withhold from the Participant&#8217;s
Compensation and/or Bonus.&#160;&#160;To the extent there are still insufficient
funds to satisfy all such applicable tax withholding requirements, the
Participant agrees to timely remit cash funds to the Company sufficient to cover
such withholding requirements.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">8.5.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Construction.&#160;&#160;Unless
the context clearly indicates to the contrary, the masculine gender shall
include the feminine and neuter, and the singular shall include the plural and
vice versa.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">8.6.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Applicable
Law.&#160;&#160;Unless preempted by ERISA, the terms and provisions of the Plan
shall be construed in accordance with the laws of the State of Texas, without
giving effect to principles of conflicts of laws.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">8.7.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Successors.&#160;&#160;The
Plan shall be binding upon the Company and its successors and assigns, in
accordance with its terms.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">8.8.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Claims
Procedure.&#160;&#160;A Participant or Beneficiary may make a claim for Plan
benefits by filing a written application for benefits with the
Committee.&#160;&#160;Such application shall set forth the nature of the claim
and any other information that the Committee may reasonably
request.&#160;&#160;The Committee shall notify the applicant of the benefits
determination within a reasonable time after receipt of the claim, which shall
not exceed 90 days unless special circumstances require an extension of time for
processing the claim.&#160;&#160;If such an extension is required, written
notice of the extension shall be furnished to the applicant prior to the end of
the initial 90-day period.&#160;&#160;In no event shall such an extension exceed
a period of 90 days from the end of the initial period.&#160;&#160;The extension
notice shall indicate the special circumstances requiring an extension of time,
and the date by which a final decision is expected to be
rendered.</font></div><br>
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        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
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      </div>
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      </div>
    </div><br>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">Notice
of a claim denial, in whole or in part, shall be set forth in a manner
calculated to be understood by the applicant and shall contain the
following:</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">&#160;&#160;&#160;
(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;the
specific reason or reasons for the denial; and</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">&#160;&#160;&#160;
(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; a specific
reference to the pertinent Plan provisions on which the denial is based;
and</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">&#160;&#160;&#160;
(c)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#160;&#160;&#160;a
description of any additional material or information necessary for the
applicant to perfect the claim and an explanation of why such material or
information is necessary; and</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">&#160;&#160;&#160;
(d)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#160;&#160;&#160;an
explanation of the Plan&#8217;s claims review procedure.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">Participants
shall be given timely written notice of the time limits set forth herein for
determinations on claims, appeal of claim denial and decisions on
appeal.&#160;&#160;If notice of a claim determination is not provided within the
applicable time frame described above, the claim shall be deemed denied and the
applicant may appeal the denial as set forth below.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">If
a written claim results in a claim denial, either in whole or in part, the
applicant has the right to appeal.&#160;&#160;The appeal must be in
writing.&#160;&#160;The administrative process for appealing a claim
is:</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">&#160;&#160;&#160;
(e)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#160;&#160;&#160;Upon
receipt of a claim denial, a Participant may file a written request, including
any additional information supporting the claim, for reconsideration to the
Committee within 60 days of receiving notification that the claim is
denied.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">The
Committee normally shall render a decision no later than 60 days following
receipt of the request for review.&#160;&#160;The Participant may request a
formal hearing before the Committee which the Committee may grant in its
discretion. Under special circumstances which require an extension of time for
rendering a decision (including but not limited to the need to hold a hearing),
the decision may be delayed up to 120 days following receipt of the request for
review.&#160;&#160;If such an extension is required, the Participant will be
advised in writing before the extension begins.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">The
Committee will provide written notice of its final determination.&#160;&#160;The
notice will include specific reasons for the decision, be written in a manner
calculated to be understood by the Participant and make specific reference to
the Plan provisions on which it is based.</font></div><br>
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        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
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        <div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
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      </div>
    </div><br>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">An
appeal will not be considered if it is not filed within the applicable period of
time.&#160;&#160;If a decision on an appeal is not provided within any
applicable time frame described above, the claim shall be deemed denied on
appeal.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">At
any stage in the appeals process, the applicant or his or her designated
representative may review pertinent documents, including copies of the Plan
document and information relating to the applicant&#8217;s entitlement to such
benefit, and submit issues and comments in writing.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">8.9.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Binding
Arbitration.&#160;&#160;Any dispute or claim arising out of this Plan or the
breach thereof shall be settled by binding arbitration in accordance with the
rules of the American Arbitration Association, to be conducted in Houston, Texas
before an arbitrator selected in accordance with such rules.&#160;&#160;Judgment
upon the award rendered by the Arbitrator may be entered in any court having
jurisdiction thereof, and shall be binding on the parties.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">8.10.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Entire
Agreement.&#160;&#160;This Plan document constitutes the entire Plan governing
the Company, the Employer and the Participant with respect to the subject
matters hereof and supercedes all prior written and oral and all contemporaneous
written and oral agreements and understandings, with respect to the subject
matters herein.&#160;&#160;This Plan may not be changed orally, but only by an
amendment in writing signed by the Company and the Employer, subject to the
provisions in this Plan regarding amendments thereto.</font></div><br>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify">
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</font></div>
      </div>
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        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman">&#160;
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        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
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      </div>
    </div><br>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif"><font style="DISPLAY: inline; FONT-WEIGHT: bold">IN WITNESS WHEREOF</font>, the
Employer and the Company have caused this Plan to be executed by its duly
authorized officer, effective as provided herein.</font><br></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div align="left">
      <table cellpadding="0" cellspacing="0" width="100%">
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            <td valign="top" width="50%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
            <td colspan="2" valign="top" width="50%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 12pt; FONT-FAMILY: times new roman, serif">&#8220;EMPLOYER&#8221;</font></div>
            </td>
          </tr>
          <tr>
            <td valign="top" width="50%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
            <td valign="top" width="5%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
            <td valign="top" width="45%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
          </tr>
          <tr>
            <td valign="top" width="50%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
            <td colspan="2" valign="top" width="50%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman, serif">Specialty
      Retailers, Inc.</font></div>
            </td>
          </tr>
          <tr>
            <td valign="top" width="50%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
            <td valign="top" width="5%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
            <td valign="top" width="45%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
          </tr>
          <tr>
            <td valign="top" width="50%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
            <td valign="top" width="5%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
            <td valign="top" width="45%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
          </tr>
          <tr>
            <td valign="top" width="50%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
            <td align="left" valign="top" width="5%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman, serif">By:</font></div>
            </td>
            <td align="left" valign="top" width="45%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman, serif"><font style="DISPLAY: inline; TEXT-DECORATION: underline">/s/ Edward J.
      Record</font></font></div>
            </td>
          </tr>
          <tr>
            <td valign="top" width="50%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
            <td align="left" valign="top" width="5%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman, serif">Name:</font></div>
            </td>
            <td align="left" valign="top" width="45%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman, serif">Edward
      J. Record</font></div>
            </td>
          </tr>
          <tr>
            <td valign="top" width="50%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
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