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                                                                 EXHIBIT 10.11.1

                                 LIFE INSURANCE

                         ENDORSEMENT METHOD SPLIT DOLLAR

                                 PLAN AGREEMENT

Insurer:                                    Massachusetts Mutual Life Insurance
                                               Company
                                            Union Central Life Insurance Company

Policy Number:
                                            -----------------

Bank:                                       Chattahoochee National Bank

Insured:
                                            ------------------

Relationship of Insured to Bank:            Director

The respective rights and duties of the Bank and the Insured in the
above-referenced policy shall be pursuant to the terms set forth below:

I.      DEFINITIONS

        Refer to the policy contract for the definition of any terms in this
        Agreement that are not defined herein. If the definition of a term in
        the policy is inconsistent with the definition of a term in this
        Agreement, then the definition of the term as set forth in this
        Agreement shall supersede and replace the definition of the terms as set
        forth in the policy.

II.     POLICY TITLE AND OWNERSHIP

        Title and ownership shall reside in the Bank for its use and for the use
        of the Insured all in accordance with this Agreement. The Bank may, to
        the extent of its interest, exercise the right to borrow or withdraw on
        the policy cash values. Where the Bank and the Insured (or assignee,
        with the consent of the Insured) mutually agree to exercise the right to
        increase the coverage under the subject Split Dollar policy, then, in
        such event, the rights, duties and benefits of the parties to such
        increased coverage shall continue to be subject to the terms of this
        Agreement.

<PAGE>

III.    BENEFICIARY DESIGNATION RIGHTS

        The Insured (or assignee) shall have the right and power to designate a
        beneficiary or beneficiaries to receive the Insured's share of the
        proceeds payable upon the death of the Insured, and to elect and change
        a payment option for such beneficiary, subject to any right or interest
        of the Bank may have in such proceeds, as provided in this Agreement.

IV.     PREMIUM PAYMENT METHOD

        The Bank shall pay an amount equal to the planned premiums and any other
        premium payments that might become necessary to keep the policy in
        force.

V.      TAXABLE BENEFIT

        Annually the Insured will receive a taxable benefit equal to the assumed
        cost of insurance as required by the Internal Revenue Service. The Bank
        will report to the Insured the amount of imputed income each year on
        Form W-2 or its equivalent.

VI.     DIVISION OF DEATH PROCEEDS

        Subject to Paragraphs VII and IX herein, the division of the death
        proceeds of the policy is as follows:

        A.  Should the Insured be serving on the Board of the Bank at the time
            of death, the Insured's beneficiary(ies), designated in accordance
            with Paragraph III, shall be entitled to an amount equal to ninety
            percent (90%) of the net-at-risk insurance portion of the proceeds.
            The net-at-risk insurance portion is the total proceeds less the
            cash value of the policy.

        B.  Should the Insured not be serving on the Board of the Bank at the
            time of his or her death, the Insured's beneficiary(ies), designated
            in accordance with Paragraph III, shall be entitled to the
            percentage as set forth hereinbelow of the proceeds described in
            Subparagraph VI (A) above that corresponds to the number of full
            years the Insured has been serving the Bank since the date of first
            service on the Board of the Bank.

                    Total Years
                    of Service with
                    The Bank                      Vested (To a Maximum of 100%)
                    ------------------            -----------------------------
                           1-4                             25% per year

        C.  The Bank shall be entitled to the remainder of such proceeds.

        D.  The Bank and the Insured (or assignees) shall share in any interest
            due on the death proceeds on a pro rata basis as the proceeds due
            each respectively bears to the total proceeds, excluding any such
            interest.

                                       2
<PAGE>

VII.    DIVISION OF THE CASH SURRENDER VALUE OF THE POLICY

        The Bank shall at all times be entitled to an amount equal to the
        policy's cash value, as that term is defined in the policy contract,
        less any policy loans and unpaid interest or cash withdrawals previously
        incurred by the Bank and any applicable surrender charges. Such cash
        value shall be determined as of the date of surrender or death as the
        case may be.

VIII.   RIGHTS OF PARTIES WHERE POLICY ENDOWMENT OR ANNUITY ELECTION EXISTS

        In the event the policy involves an endowment or annuity element, the
        Bank's right and interest in any endowment proceeds or annuity benefits,
        on expiration of the deferment period, shall be determined under the
        provisions of this Agreement by regarding such endowment proceeds or the
        commuted value of such annuity benefits as the policy's cash value. Such
        endowment proceeds or annuity benefits shall be considered to be like
        death proceeds for the purposes of division under this Agreement.

IX.     TERMINATION OF AGREEMENT

        This Agreement shall terminate upon the occurrence of any one of the
        following:

        A.  The Insured shall be discharged from service with the Bank for
            cause. The term "for cause" shall mean any of the following that
            result in an adverse effect on the Bank: (i) gross negligence or
            gross neglect; (ii) the commission of a felony or gross misdemeanor
            involving moral turpitude, fraud, or dishonesty; (iii) the willful
            violation of any law, rule, or regulation (other than a traffic
            violation or similar offense); (iv) an intentional failure to
            perform stated duties; or (v) a breach of fiduciary duty involving
            personal profit; or

        B.  Surrender, lapse, or other termination of the Policy by the Bank.

            Upon such termination, the Insured (or assignee) shall have a
            fifteen (15) day option to receive from the Bank an absolute
            assignment of the policy in consideration of a cash payment to the
            Bank, whereupon this Agreement shall terminate. Such cash payment
            referred to hereinabove shall be the greater of.

            A.  The Bank's share of the cash value of the policy on the date
                of such assignment, as defined in this Agreement; or

            B.  The amount of the premiums which have been paid by the Bank
                prior to the date of such assignment.

                                       3
<PAGE>

            If, within said fifteen (15) day period, the Insured fails to
            exercise said option, fails to procure the entire aforestated cash
            payment, or dies, then the option shall terminate and the Insured
            (or assignee) agrees that all of the Insured's right, interest and
            claim in the policy shall terminate as of the date of the
            termination of this Agreement.

            The Insured expressly agrees that this Agreement shall constitute
            sufficient written notice to the Insured of the Insured's option, to
            receive an absolute assignment of the policy as set forth herein.

            Except as provided above, this Agreement shall terminate upon
            distribution of the death benefit proceeds in accordance with
            Paragraph VI above.

X.          INSURED'S OR ASSIGNEE'S ASSIGNMENT RIGHTS

            The Insured may not, without the written consent of the Bank, assign
            to any individual, trust or other organization, any right, title or
            interest in the subject policy nor any rights, options, privileges
            or duties created under this Agreement.

XI.         AGREEMENT BINDING UPON THE PARTIES

            This Agreement shall bind the Insured and the Bank, their heirs,
            successors, personal representatives and assigns.

XII.         ERISA PROVISIONS

            The following provisions are part of this Agreement and are intended
            to meet the requirements of the Employee Retirement Income Security
            Act of 1974 ("ERISA"):

            A.  NAMED FIDUCIARY AND PLAN ADMINISTRATOR.

                The "Named Fiduciary and Plan Administrator" of this Endorsement
                Method Split Dollar Agreement shall be Chattahoochee National
                Bank, until its resignation or removal by the Board of
                Directors. As Named Fiduciary and Plan Administrator, the Bank
                shall be responsible for the management, control, and
                administration of this Split Dollar Plan as established herein.
                The Named Fiduciary may delegate to others certain aspects of
                the management and operation responsibilities of the Plan,
                including the employment of advisors and the delegation of any
                ministerial duties to qualified individuals.

            B.  FUNDING POLICY.

                The funding policy for this Split Dollar Plan shall be to
                maintain the subject policy in force by paying, when due, all
                premiums required.

                                       4
<PAGE>

            C.  BASIS OF PAYMENT OF BENEFITS.

                Direct payment by the Insurer is the basis of payment of
                benefits under this Agreement, with those benefits in turn being
                based on the payment of premiums as provided in this Agreement.

            D.  CLAIM PROCEDURES.

                Claim forms or claim information as to the subject policy can be
                obtained by contacting Benmark, Inc. (800-544-6079). When the
                Named Fiduciary has a claim which may be covered under the
                provisions described in the insurance policy, it should contact
                the office named above, and they will either complete a claim
                form and forward it to an authorized representative of the
                Insurer or advise the named Fiduciary what further requirements
                are necessary. The Insurer will evaluate and make a decision as
                to payment. If the claim is payable, a benefit check will be
                issued in accordance with the terms of this Agreement.

                In the event that a claim is not eligible under the policy, the
                Insurer will notify the Named Fiduciary of the denial pursuant
                to the requirements under the terms of the policy. If the Named
                Fiduciary is dissatisfied with the denial of the claim and
                wishes to contest such claim denial, they should contact the
                office named above and they will assist in making an inquiry to
                the Insurer. All objections to the Insurer's actions should be
                in writing and submitted to the office named above for
                transmittal to the Insurer.

XIII.   GENDER

        Whenever in this Agreement words are used in the masculine or neuter
        gender, they shall be read and construed as in the masculine, feminine
        or neuter gender, whenever they should so apply.

XIV.    INSURANCE COMPANY NOT A PARTY TO THIS AGREEMENT

        The Insurer shall not be deemed a party to this Agreement, but will
        respect the rights of the parties as herein developed upon receiving an
        executed copy of this Agreement. Payment or other performance in
        accordance with the policy provisions shall fully discharge the Insurer
        from any and all liability.

XV.     CHANGE OF CONTROL

        Change of Control shall be deemed to be the cumulative transfer of more
        than fifty percent (50%) of the voting stock of the Bank or the Holding
        Company from the date of this Agreement. For the purposes of this
        Agreement, transfers on account of death or gifts, transfers between
        family members, or transfers to a qualified retirement plan

                                       5
<PAGE>

        maintained by the Bank shall not be considered in determining whether
        there has been a Change of Control. Upon a Change of Control, if the
        Insured's service is subsequently terminated, except for cause, then the
        Insured shall be one hundred percent (100%) vested in the benefits
        promised in this Agreement and, therefore, upon the death of the
        Insured, the Insured's beneficiary(ies) (designated in accordance with
        Paragraph III) shall receive the death benefit provided herein as if the
        Insured had died while employed by the Bank (see Subparagraph VI [A]).

XVI.    AMENDMENT OR REVOCATION

        It is agreed by and between the parties hereto that, during the lifetime
        of the Insured, this Agreement may be amended or revoked at any time or
        times, in whole or in part, by the mutual written consent of the Insured
        and the Bank.

XVII.   EFFECTIVE DATE

        The Effective Date of this Agreement shall be _______________________ .

XVIII.  SEVERABILITY AND INTERPRETATION

        If a provision of this Agreement is held to be invalid or unenforceable,
        the remaining provisions shall nonetheless be enforceable according to
        their terms. Further, in the event that any provision is held to be over
        broad as written, such provision shall be deemed amended to narrow its
        application to the extent necessary to make the provision enforceable
        according to law and enforced as amended.

XIX.    APPLICABLE LAW

        The validity and interpretation of this Agreement shall be governed by
        the laws of the State of Georgia.

XX.     PREMIUM PAYMENT METHOD AND BANK'S DUE DILIGENCE

        Subject to the following, the Bank shall pay an amount equal to the
        planned premiums and any other premium payments that might become
        necessary to keep the policy in force. The Bank shall exercise due
        diligence in reviewing the financial stability of the insurance company
        and the policy that are the subject of this Agreement. If the Bank
        believes that the Insurer under the policy is financially weak or that
        the policy is not performing well, the Bank may, at any time, surrender
        the policy or substitute a different policy provided that the Bank is
        under no obligation to invest in such replacement policy any more than
        the proceeds available from the cash surrender value of the original
        policy. The Executive will cooperate by undertaking any necessary
        medical examination. If the Bank chooses to surrender the
        above-referenced policy without replacing it or the policy otherwise
        ceases to exist prior to the death of the Insured, the Bank agrees to
        pay the Insured's named beneficiary(ies) as a death benefit under
        Paragraph VI of this Agreement.

                                       6
<PAGE>

Executed at Alpharetta, Georgia this _____ day of ________, 2002.

                                          CHATTAHOOCHEE NATIONAL BANK
                                          Alpharetta, Georgia

                                            By:
---------------------------                    ---------------------------------
Witness                                        Title:

---------------------------                 -----------------------------------
Witness

                                       7
<PAGE>

                          BENEFICIARY DESIGNATION FORM
                      FOR LIFE INSURANCE ENDORSEMENT METHOD
                           SPLIT DOLLAR PLAN AGREEMENT

PRIMARY DESIGNATION:

            NAME                  ADDRESS                RELATIONSHIP

--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------

SECONDARY (CONTINGENT) DESIGNATION:

--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------

All sums payable under the Life Insurance Endorsement Method Split Dollar Plan
Agreement by reason of my death shall be paid to the Primary Beneficiary, if he
or she survives me, and if no Primary Beneficiary shall survive me, then to the
Secondary (Contingent) Beneficiary.

------------------------------                    -----------------------------
                                                  Date

                                       8EXHIBIT 10.15

                               CNB HOLDINGS, INC.
                           DEFERRED COMPENSATION PLAN

    THIS INDENTURE is made effective as of July 1, 2004, by CNB HOLDINGS, INC.,
a corporation duly organized and existing under the laws of the State of Georgia
(hereinafter called the "Primary Sponsor").

                                  INTRODUCTION

    The Primary Sponsor desires to establish an unfunded plan of deferred
compensation for the purpose of providing deferred compensation to one or more
individuals who are part of a select group of management or highly compensated
employees of the Primary Sponsor and its adopting affiliates.

    The Primary Sponsor intends the Plan to be a plan described in Section
301(a)(3) of the Employee Retirement Income Security Act of 1974, as amended
("ERISA").

    NOW, THEREFORE, the Primary Sponsor does hereby establish the CNB Holdings,
Inc. Deferred Compensation Plan (the "Plan"), effective as of July 1, 2004, to
read as follows:

<PAGE>

                                                CNB HOLDINGS, INC.
                                            DEFERRED COMPENSATION PLAN

                                                 TABLE OF CONTENTS
<TABLE>
<CAPTION>
                                                                                                               PAGE

<S>         <C>                                                                                                  <C>
    SECTION 1         DEFINITIONS.................................................................................1
    SECTION 2         ELIGIBILITY.................................................................................4
    SECTION 3         DEFERRAL ELECTIONS..........................................................................4
    SECTION 4         CREDITING CONTRIBUTIONS TO ACCOUNTS.........................................................5
    SECTION 5         INDIVIDUAL FUNDS, HYPOTHETICAL INVESTMENT OF ALLOCATED ACCOUNTS.............................6
    SECTION 6         WITHDRAWALS.................................................................................6
    SECTION 7         DEATH BENEFITS..............................................................................7
    SECTION 8         PAYMENT OF BENEFITS AFTER SEPARATION FROM SERVICE...........................................8
    SECTION 9         VESTING.....................................................................................8
    SECTION 10        ADMINISTRATION OF THE PLAN..................................................................9
    SECTION 11        CLAIM REVIEW PROCEDURE.....................................................................10
    SECTION 12        LIMITATION OF ASSIGNMENT, PAYMENTS TO LEGALLY INCOMPETENT DISTRIBUTEE
                      AND UNCLAIMED PAYMENTS.....................................................................14
    SECTION 13        LIMITATION OF RIGHTS.......................................................................14
    SECTION 14        AMENDMENT TO OR TERMINATION OF THE PLAN....................................................15
    SECTION 15        ADOPTION OF PLAN BY AFFILIATES.............................................................15
    SECTION 16        MISCELLANEOUS..............................................................................15
</TABLE>

<PAGE>

                                    SECTION 1
                                   DEFINITIONS
                                   -----------

         Whenever used herein, the masculine pronoun shall be deemed to include
the feminine, and the singular to include the plural, unless the context clearly
indicates otherwise. The following words and phrases shall have the meanings set
forth below:

         1.1 "ACCOUNT" means the bookkeeping accounts established and maintained
by the Plan Administrator, as adjusted for credits or charges, to reflect the
interest of a Participant under the Plan and shall include the following:

                  (a) "ELECTIVE DEFERRAL ACCOUNT" which shall reflect deferrals
         made on behalf of a Participant pursuant to Section 3.1.

                  (b) "NONELECTIVE CONTRIBUTION ACCOUNT" which shall reflect
         contributions by the Plan Sponsor made on behalf of a Participant
         pursuant to Section 3.2.

         1.2 "AFFILIATE" means (a) any corporation which is a member of the same
controlled group of corporations (within the meaning of Code Section 414(b)) as
is a Plan Sponsor and (b) any other trade or business (whether or not
incorporated) under common control (within the meaning of Code Section 414(c))
with a Plan Sponsor.

         1.3 "BENEFICIARY" means the person or trust that a Participant
designated most recently in writing to the Plan Administrator; provided,
however, that if the Participant has failed to make a designation, no person
designated is alive, no trust has been established, or no successor Beneficiary
has been designated who is alive, the term "Beneficiary" means the deceased
Participant's estate.

         1.4 "BOARD OF DIRECTORS" means the Board of Directors of the Primary
Sponsor.

         1.5 "CAUSE" has the same meaning as provided in the employment
agreement between the Participant and a Plan Sponsor, or if no such definition
or employment agreement exists, "Cause" means conduct amounting to

                  (a) fraud or dishonesty against the Plan Sponsor or
         Affiliate(s);

                  (b) Participant's willful misconduct or knowing violation of
         law in the course of performance of the duties of Participant's service
         with the Plan Sponsor or Affiliate(s);

                  (c) repeated absences from work without a reasonable excuse;

                  (d) repeated intoxication with alcohol or drugs while on the
         Primary Sponsor's or Affiliate(s)' premises during regular business
         hours;

                  (e) a conviction or plea of guilty or NOLO CONTENDERE to a
         felony or a crime involving dishonesty; or

<PAGE>

                  (f) a breach or violation of the terms of any agreement to
         which a Participant and a Plan Sponsor or Affiliate(s) are party.

         1.6 "CHANGE IN CONTROL" shall have the same meaning as provided in the
employment agreement between the Participant and a Plan Sponsor, or if no such
definition or employment agreement exists, "Change in Control" shall mean any
one of the following events which may occur after the Effective Date:

                  (a) the acquisition by any individual, entity or "group,"
         within the meaning of Section 13(d)(3) or Section 14(d)(2) of the
         Securities Exchange Act of 1934, as amended, (a "Person") of beneficial
         ownership (within the meaning of Rule 13-d-3 promulgated under the
         Securities Exchange Act of 1934) of voting securities of the Primary
         Sponsor where such acquisition causes any such Person to own fifty
         percent (50%) or more of the combined voting power of the then
         outstanding voting securities entitled to vote generally in the
         election of directors;

                  (b) within any twelve-month period, the persons who were
         directors of the Primary Sponsor immediately before the beginning of
         such twelve-month period (the "Incumbent Directors") shall cease to
         constitute at least a majority of the Board of Directors of the Primary
         Sponsor; provided that any director who was not a director as of the
         beginning of such twelve-month period shall be deemed to be an
         Incumbent Director if that director were elected to the Board of
         Directors of the Primary Sponsor by, or on the recommendation of or
         with the approval of, at least two-thirds (2/3) of the directors who
         then qualified as Incumbent Directors; and provided further that no
         director whose initial assumption of office is in connection with an
         actual or threatened election contest relating to the election of
         directors shall be deemed to be an Incumbent Director;

                  (c) a reorganization, merger or consolidation, with respect to
         which persons who were the stockholders of the Primary Sponsor
         immediately prior to such reorganization, merger or consolidation do
         not, immediately thereafter, own more than fifty percent (50%) of the
         combined voting power entitled to vote in the election of directors of
         the reorganized, merged or consolidated Primary Sponsor's then
         outstanding voting securities;

                  (d) the sale, transfer or assignment of all or substantially
         all of the assets of the Primary Sponsor to any third party.

         1.7 "CODE" means the Internal Revenue Code of 1986, as amended.

         1.8 "DEFERRAL AMOUNTS" means the amounts of compensation deferred under
the Plan by a Participant pursuant to the Participant's election under Section
3.1.

         1.9 "DISABILITY" means a condition whereby a Participant is unable to
engage in any substantial gainful activity by reason of any medically
determinable physical or mental impairment which can be expected to result in
death or can be expected to last for a continued period of not less than twelve
(12) months.

         1.10 "EFFECTIVE DATE" means July 1, 2004.

                                       2
<PAGE>

         1.11 "ELIGIBLE EMPLOYEE" means any Employee of a Plan Sponsor who is
both determined by the Plan Administrator to be a member of a "select group of
management and highly compensated employees," within the meaning of ERISA
Section 301(a)(3), and selected by the Plan Administrator for participation in
the Plan.

         1.12 "EMPLOYEE" means any person who is designated on the records of
the Plan Sponsor as being employed by a Plan Sponsor or an Affiliate for
purposes of the Federal Insurance Contributions Act.

         1.13 "ERISA" means the Employee Retirement Income Security Act of 1974,
as amended.

         1.14 "INDIVIDUAL FUNDS" means two or more individual subfunds, as
designated by the Plan Administrator from time to time for investment of
Accounts.

         1.15 "PARTICIPANT" means any Eligible Employee or former Eligible
Employee who has participated in the Plan, for so long as his benefits hereunder
have not been entirely distributed from the Plan.

         1.16 "PAYMENT DATE" means the date on which distribution of a
Participant's Account commences, which shall be as soon as practicable after the
first day of the calendar year following the calendar year in which a separation
from service occurs, provided, however, that if a Participant is a "key
employee" within the meaning of Section 416(i) of the Code, the Payment Date
shall be deferred for at least six (6) months after the date of separation from
service.

         1.17 "PLAN ADMINISTRATOR" means the Primary Sponsor, except as
otherwise provided in Section 10.1.

         1.18 "PLAN SPONSOR" means individually the Primary Sponsor and each
other existing Affiliate of the Primary Sponsor which adopts the Plan.

         1.19 "PLAN YEAR" means the calendar year.

          1.20 "RETIREMENT" means a Participant's termination of employment from
the Plan Sponsor and all Affiliates on or after reaching age sixty-five (65).

          1.21 "UNFORESEEN EMERGENCY" means a severe financial hardship to a
Participant  resulting  from  an  illness  or  accident of a Participant or of a
dependent  (as  defined  in Code Section 152(a)) of the Participant, loss of the
Participant's  property  due  to  casualty  or  other  similar extraordinary and
unforeseeable  circumstances arising as a result of events beyond the control of
the Participant. The circumstances that shall constitute an Unforeseen Emergency
shall depend upon the facts of each case.

          1.22 "VALUATION DATE" means each business day.

                                    SECTION 2
                                   ELIGIBILITY
                                   -----------

         2.1 DATE OF PARTICIPATION. The Plan Administrator shall notify each
Eligible Employee of his or her eligibility to participate in the Plan. Each
Eligible Employee shall become a Participant as of a date determined by the Plan
Administrator.

         2.2 CESSATION OF PARTICIPATION. A Participant who ceases to be an
Eligible Employee will no longer be eligible to make further elective deferrals
under the Plan pursuant to Plan Section 3.1, if otherwise eligible to do so, and
will no longer be eligible to receive nonelective contributions under Section
3.2, but shall continue to be subject to all other terms of the Plan so long as
his Account has not been fully distributed.

         2.3 SUSPENSION OF PARTICIPATION. In the event the Participant
participates in a plan of a Plan Sponsor or an Affiliate intended to qualify
under Code Section 401(a) and containing a cash or deferred arrangement intended
to qualify under Code Section 401(k), the Participant shall be suspended from
continued participation under the Plan to the extent required by such other plan
as a result of a hardship withdrawal made by such Participant under such other
plan.

                                    SECTION 3
                               DEFERRAL ELECTIONS
                               ------------------

         3.1      ELECTIVE DEFERRAL CONTRIBUTIONS.

                  (a) The Plan Administrator may, in its sole discretion,
         determine which, if any, Participants may make elective deferrals of
         compensation under the Plan.

                  (b) A Participant who is otherwise eligible to make elective
         deferrals of compensation under the Plan shall make elective deferral
         decisions pursuant to Section 3.1(c) below and such other rules as the
         Plan Administrator may establish from time to time, which rules may
         vary among Participants in the Plan Administrator's sole discretion.

                  (c) Each Participant who is otherwise eligible to make
         elective deferrals of compensation under the Plan during the 2004 Plan
         Year must submit his election to participate for the 2004 Plan Year to
         the Plan Administrator within the time period established by the Plan
         Administrator. Each Participant who is otherwise eligible to make
         elective deferrals and who first becomes eligible to participate in the
         Plan during a Plan Year subsequent to the 2004 Plan Year must submit
         his election to participate for the Plan Year within thirty (30) days
         after the date the Participant is designated as an Eligible Employee
         and in accordance with such other rules as may be established by the
         Plan Administrator. Each other Participant who is otherwise eligible to
         make elective deferrals must submit his election to participate for a
         Plan Year no later than the close of the preceding Plan Year and in
         accordance with such other rules as may be established by the Plan
         Administrator; provided, however, that a separate election for
         performance-based compensation may be permitted by the Plan
         Administrator as long as the

                                       4
<PAGE>

        performance-based compensation is based on services over a period of at
        least twelve (12) months and the election(s) are made at least six (6)
        months before the end of such period. All elections, other than those
        pertaining to performance-based compensation, shall be effective as of
        the first day of the payroll period for the applicable Plan Year
        beginning after the Participant's election is processed pursuant to
        normal administrative procedures and shall remain in effect until the
        Participant notifies the Plan Administrator, in such manner and form as
        the Plan Administrator shall from time to time prescribe, that the
        Participant wishes to suspend active participation. Once a Participant
        has completed an enrollment form and made an election to defer pursuant
        to Section 3.1, the Participant may suspend active participation in the
        Plan only in such manner and form as the Plan Administrator shall from
        time to time prescribe. A Participant who is allowed to suspend active
        participation under the Plan during a Plan Year may not resume active
        participation in the Plan during that Plan Year. Notwithstanding the
        foregoing, no deferral elections and no suspension of an election shall
        be effective for the portion of a Participant's compensation earned on
        or before the date of the election.

         3.2 NONELECTIVE CONTRIBUTIONS. The Plan Sponsor may, in its discretion,
make contributions to any Participant's Nonelective Contribution Account from
time to time in an amount determined in the sole discretion of the Plan Sponsor.
Any amount contributed pursuant to this Section 3.2 may vary among Participants
and may be contributed on behalf of one or more Participants and not others.

         3.3 EFFECT ON OTHER PLANS. The amount of compensation deferred under
either Section 3.1 or 3.2 shall not be deemed to be earnings or compensation for
the purpose of calculating the amount of a Participant's benefits or
contributions under a retirement or deferral plan of a Plan Sponsor or the basis
or amount for any other benefit plan provided by a Plan Sponsor, except to the
extent provided in any such plan. No amount distributed under this Plan shall be
deemed to be earnings or a part of the Participant's total compensation when
determining a Participant's benefit under any benefit plan established by a Plan
Sponsor, unless otherwise provided in such plan.

                                    SECTION 4
                       CREDITING CONTRIBUTIONS TO ACCOUNTS
                       -----------------------------------

         4.1 DEFERRAL AMOUNTS. The Plan Sponsor shall credit to the
Participant's Employee Deferral Account, Deferral Amounts deferred under Section
3.1 as soon as administratively feasible following the end of the payroll period
in which such amounts are withheld from the Participant's compensation.

         4.2 NONELECTIVE CONTRIBUTIONS. The Plan Sponsor shall credit to the
Participant's Nonelective Contribution Account any contributions made by the
Plan Sponsor under Section 3.2 as of a date determined by the Plan
Administrator.

                                       5
<PAGE>

                                    SECTION 5
         INDIVIDUAL FUNDS, HYPOTHETICAL INVESTMENT OF ALLOCATED ACCOUNTS
         ---------------------------------------------------------------

         5.1 Until such time as the Plan Administrator may direct otherwise,
each Participant may direct the Plan Administrator to hypothetically invest his
or her Account in one or more Individual Funds as the Participant shall
designate by providing written notice to the Plan Administrator according to the
procedures established by the Plan Administrator for that purpose.

                (a) All investment directions, or changes in investment
        directions, of the Participant's Account shall be made in accordance
        with the procedures established by the Plan Administrator.

                (b) An investment direction, once given, shall be deemed to be a
        continuing direction until changed as otherwise provided herein. If no
        direction is effective for the date a deferral or contribution is to be
        made, all deferrals or contributions which are to be made for such date
        shall be invested in such Individual Fund as the Plan Administrator may
        determine.

         5.2 PARTICIPANT DIRECTIONS TO TRANSFER BETWEEN INDIVIDUAL FUNDS. A
Participant may elect, according to the procedures established by the Plan
Administrator, to transfer the hypothetical investment of his Account among
Individual Funds. An election under this Section 5.2 shall be effective as of
the date that such directions are processed by the Plan Administrator in
accordance with the procedures established for such purpose.

         5.3 EARNINGS. As of each Valuation Date, the Participant's Account
shall be credited or charged with the rate of return which would have been
earned had the Participant's Account been invested pursuant to the Participant's
hypothetical investment elections among the Individual Funds.

         5.4 DESIGNATION OF RATE OF RETURN. Notwithstanding the foregoing
provisions of this Section 5, in lieu of designating Individual Funds and
crediting returns in accordance with the foregoing provisions of this Section 5,
the Plan Administrator may, for any period of time during which Accounts are
maintained, specify a designated rate or rates of return which are to be
credited to Accounts for such period of time. The rate or rates of return so
designated by the Plan Administrator may vary from Account to Account, as
determined in the sole discretion of the Plan Administrator.

                                       6
<PAGE>

                                    SECTION 6
                                   WITHDRAWALS
                                   -----------

          6.1 UNFORESEEN EMERGENCY. The Plan Administrator may pay all or a
portion  of  a  Participant's  vested  Account  prior to the Payment Date if the
Participant is an Employee and demonstrates that he has an Unforeseen Emergency;
provided,  however,  that  payment  may not be made to the extent the Unforeseen
Emergency is or may be relieved:

                  (a) through reimbursement or compensation by insurance or
         otherwise,

                  (b) by liquidation of the Participant's assets, to the extent
         the liquidation of such assets would not itself cause severe financial
         hardship, or

                  (c) by cessation of further elective deferrals, under the
         Plan.

         Distributions because of Unforeseen Emergency shall be limited to the
amount necessary to satisfy the need (which may include any amounts necessary to
pay any federal, state, or local income taxes or penalties reasonably
contemplated to result from the distribution). The Plan Administrator shall have
the sole and absolute discretion to determine if an Unforeseen Emergency exists
with respect to a Participant. Any determination of the existence of an
Unforeseen Emergency and the amount to be distributed on account thereof shall
be made by the Plan Administrator (or such other person as may be required to
make such decisions) in accordance with rules applied in a uniform and
nondiscriminatory manner.

         6.2 PAYMENTS FOR UNFORESEEN EMERGENCY. Unforeseen Emergency payments
shall be made to a Participant only in accordance with such rules, policies,
procedures, restrictions, and conditions as the Plan Administrator may from time
to time adopt. Any determination of the amount to be distributed on account of
an Unforeseen Emergency shall be made by the Plan Administrator. A payment under
this Section shall be made in a lump sum in cash to the Participant and shall be
charged against the Participant's vested Account as of the day coinciding with
or immediately preceding the date on which payment is made.

                                    SECTION 7
                                 DEATH BENEFITS
                                 --------------

         7.1 DEATH PRIOR TO COMMENCEMENT OF PAYMENT. If a Participant dies while
an Employee, the Participant's Beneficiary shall be entitled to receive the full
value of the Participant's Account.

         7.2 DEATH WHEN NO LONGER AN EMPLOYEE. If a Participant who is no longer
an Employee dies prior to the complete payment of the Participant's Account, the
Participant's Beneficiary shall be entitled to receive the entire unpaid vested
portion of the Participant's Account.

         7.3 PAYMENT TO SUCCESSOR BENEFICIARY. If, subsequent to the death of a
Participant, the Participant's Beneficiary dies while entitled to receive
benefits under the Plan, the successor Beneficiary, if any, shall be entitled to
receive benefits under the Plan. However, if no such

                                       7
<PAGE>

successor Beneficiary is alive, the Participant's benefits under the Plan shall
be paid to the personal representative of the deceased Beneficiary's estate.

         7.4 PAYMENT OF BENEFITS. Any benefit payable under this Plan Section 7
shall be paid in a lump sum in cash to the Beneficiary as soon as
administratively practicable following the Participant's death after receipt by
the Plan Administrator of notice of the death of the Participant.

                                    SECTION 8
                PAYMENT OF BENEFITS AFTER SEPARATION FROM SERVICE
                -------------------------------------------------

         8.1 SEPARATION FROM SERVICE. A Participant shall be considered to have
separated from service as of the date the Participant terminates employment from
the Plan Sponsor and all Affiliates, unless the Plan Administrator reasonably
has determined that a separation from service occurred at an earlier or later
date consistent with applicable Treasury regulations. Transfer of a Participant
from a Plan Sponsor to any Affiliate generally shall not be deemed for any
purpose under the Plan to be a termination of employment by the Participant.

         8.2 CALCULATION OF ACCOUNT VALUE. For payment purposes, the
Participant's Account shall be determined as of the Valuation Date immediately
preceding the date the Account is processed for payout purposes.

         8.3 PAYMENT OF BENEFITS. A Participant's vested Account shall be paid
in three (3) annual cash installments beginning with the Payment Date.

                                    SECTION 9
                                     VESTING
                                     -------

         9.1 A Participant shall be fully vested at all times in his Employee
Deferral Account.

         9.2 A Participant shall become fully vested in his Nonelective
Contribution Account upon the earliest to occur of (a) an involuntary separation
from service effected by the Plan Sponsor other than for Cause; (b) a Change in
Control while the Participant is an Employee; (c) the Participant becoming
subject to a Disability while an Employee; or (d) the Participant's Retirement.

         9.3 In the event of a Participant's voluntary separation from service
prior to the occurrence of an event described in Section 9.2, the Participant
will become vested in amounts contributed to his Nonelective Contribution
Account determined pursuant to the vesting schedule applicable to the
Participant as established by the Plan Administrator and communicated to the
Participant. If the Plan Administrator has not established a vesting schedule
for a Participant, the Participant will become vested in each annual
contribution made to his Nonelective Contribution Account, including earnings
attributable thereto, in equal one-third (1/3) increments over a three-year
period beginning on the first anniversary of the date such annual contribution
is first credited to the Plan. Any amounts which are not vested shall be
forfeited upon separation from service.

                                       8
<PAGE>

         9.4 In the event of a Participant's involuntary separation from service
for Cause, the Participant will forfeit all of the amounts credited to his
Nonelective Contribution Account, regardless of the extent to which he may
otherwise have been vested in such amounts.

                                   SECTION 10
                           ADMINISTRATION OF THE PLAN
                           --------------------------

         10.1 OPERATION OF THE PLAN ADMINISTRATOR. The Primary Sponsor shall be
the Plan Administrator, unless it appoints a person, committee or other
organization as the Plan Administrator. If an organization is appointed to serve
as the Plan Administrator, then the Plan Administrator may designate in writing
a person who may act on behalf of the Plan Administrator. The Primary Sponsor
shall have the right to remove the Plan Administrator at any time by notice in
writing. The Plan Administrator may resign at any time by written notice or
resignation to the Primary Sponsor. Upon removal or resignation, or in the event
of the dissolution of the Plan Administrator, the Primary Sponsor shall appoint
a successor.

         10.2     DUTIES OF THE PLAN ADMINISTRATOR.

                  (a) The Plan Administrator shall make all payments under the
         terms of the Plan.

                  (b) The Plan Administrator shall from time to time establish
         rules, not contrary to the provisions of the Plan, for the
         administration of the Plan and the transaction of its business. All
         elections and designations under the Plan by a Participant or
         Beneficiary shall be made on forms prescribed by the Plan
         Administrator. The Plan Administrator shall have discretionary
         authority to construe the terms of the Plan and shall determine all
         questions arising in the administration, interpretation and application
         of the Plan, including, but not limited to, those concerning
         eligibility for benefits and it shall not act so as to discriminate in
         favor of any person. All determinations of the Plan Administrator shall
         be conclusive and binding on all Employees, Participants, and
         Beneficiaries, subject to the provisions of the Plan and subject to
         applicable law.

                  (c) The Plan Administrator shall furnish Participants and
         Beneficiaries with all disclosures now or hereafter required by ERISA.
         The Plan Administrator shall file, as required, the various reports and
         disclosures concerning the Plan and its operations as required by ERISA
         and by the Code, and shall be solely responsible for establishing and
         maintaining all records of the Plan.

                  (d) The statement of specific duties for a Plan Administrator
         in this Section is not in derogation of any other duties which a Plan
         Administrator has under the provisions of the Plan or under applicable
         law.

         10.3 ACTION BY THE PRIMARY SPONSOR OR A PLAN SPONSOR. Any action to be
taken by the Primary Sponsor or a Plan Sponsor shall be taken by resolution or
written direction duly adopted by its board of directors or appropriate
governing body,

                                       9
<PAGE>

as the case may be; provided, however, that by such resolution or written
direction, the board of directors or appropriate governing body, as the case may
be, may delegate to any officer or other appropriate person of a Plan Sponsor
the authority to take any such actions as may be specified in such resolution or
written direction.

                                   SECTION 11
                             CLAIM REVIEW PROCEDURE
                             ----------------------

         11.1 NOTICE OF DENIAL. If a Participant or a Beneficiary is denied a
claim for benefits under the Plan, the Plan Administrator shall provide to the
claimant written notice of the denial within ninety (90) days (forty-five (45)
days with respect to a denial of any claim for benefits due to the Participant's
Disability) after the Plan Administrator receives the claim, unless special
circumstances require an extension of time for processing the claim. If such an
extension of time is required, written notice of the extension shall be
furnished to the claimant prior to the termination of the initial 90-day or
45-day period, as applicable. In no event shall the extension exceed a period of
ninety (90) days (thirty (30) days with respect to a claim for benefits due to
the Participant's Disability) from the end of such initial period. With respect
to a claim for benefits due to the Participant's Disability, an additional
extension of up to thirty (30) days beyond the initial 30-day extension period
may be required for processing the claim. In such event, written notice of the
extension shall be furnished to the claimant within the initial 30-day extension
period. Any extension notice shall indicate the special circumstances requiring
the extension of time, the date by which the Plan Administrator expects to
render the final decision, the standards on which entitlement to benefits are
based, the unresolved issues that prevent a decision on the claim and the
additional information needed to resolve those issues.

         11.2 CONTENTS OF NOTICE OF DENIAL. If a Participant or Beneficiary is
denied a claim for benefits under a Plan, the Plan Administrator shall provide
to such claimant written notice of the denial which shall set forth:

                  (a) the specific reasons for the denial;

                  (b) specific references to the pertinent provisions of the
         Plan on which the denial is based;

                  (c) 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;

                  (d) an explanation of the Plan's claim review procedures, and
         the time limits applicable to such procedures, including a statement of
         the claimant's right to bring a civil action under Sections 502(a) of
         ERISA following an adverse benefit determination on review;

                  (e) in the case of a claim for benefits due to a Participant's
         Disability, if an internal rule, guideline, protocol or other similar
         criterion is relied upon in making the adverse determination, either
         the specific rule, guideline, protocol or other similar criterion; or a
         statement that such rule, guideline, protocol or other similar
         criterion was

                                       10
<PAGE>

         relied upon in making the decision and that a copy of such rule,
         guideline, protocol or other similar criterion will be provided free of
         charge upon request; and

                  (f) in the case of a claim for benefits due to a Participant's
         Disability, if a denial of the claim is based on a medical necessity or
         experimental treatment or similar exclusion or limit, an explanation of
         the scientific or clinical judgment for the denial, an explanation
         applying the terms of the Plan to the claimant's medical circumstances
         or a statement that such explanation will be provided free of charge
         upon request.

         11.3 RIGHT TO REVIEW. After receiving written notice of the denial of a
claim or that a domestic relations order is a qualified domestic relations
order, a claimant or his representative shall be entitled to:

                  (a) request a full and fair review of the denial of the claim
         or determination that a domestic relations order is a qualified
         domestic relations order by written application to the Plan
         Administrator (or Appeals Fiduciary in the case of a claim for benefits
         payable due to a Participant's Disability);

                  (b) request, free of charge, reasonable access to, and copies
         of, all documents, records, and other information relevant to the
         claim;

                  (c) submit written comments, documents, records, and other
         information relating to the denied claim to the Plan Administrator or
         Appeals Fiduciary, as applicable; and

                  (d) a review that takes into account all comments, documents,
         records, and other information submitted by the claimant relating to
         the claim, without regard to whether such information was submitted or
         considered in the initial benefit determination.

         11.4     APPLICATION FOR REVIEW.

                  (a) If a claimant wishes a review of the decision denying his
         claim to benefits under the Plan, other than a claim described in
         Subsection (b) of this Section 11.4, or if a claimant wishes to appeal
         a decision that a domestic relations order is a qualified domestic
         relations order, he must submit the written application to the Plan
         Administrator within sixty (60) days after receiving written notice of
         the denial or notice that the domestic relations order is a qualified
         domestic relations order.

                  (b) If the claimant wishes a review of the decision denying
         his claim to benefits under the Plan due to a Participant's Disability,
         he must submit the written application to the Appeals Fiduciary within
         one hundred eighty (180) days after receiving written notice of the
         denial. With respect to any such claim, in deciding an appeal of any
         denial based in whole or in part on a medical judgment (including
         determinations with regard to whether a particular treatment, drug, or
         other item is experimental, investigational, or not medically necessary
         or appropriate), the Appeals Fiduciary shall:

                                       11
<PAGE>

                           (i) consult with a health care professional who has
                  appropriate training and experience in the field of medicine
                  involved in the medical judgment; and

                           (ii) identify the medical and vocational experts
                  whose advice was obtained on behalf of the Plan in connection
                  with the denial without regard to whether the advice was
                  relied upon in making the determination to deny the claim.

         Notwithstanding the foregoing, the health care professional consulted
         pursuant to this Subsection (b) shall be an individual who was not
         consulted with respect to the initial denial of the claim that is the
         subject of the appeal or a subordinate of such individual.

         11.5 HEARING. Upon receiving a written application for review pursuant
to Subsection (a) or (b) of this Section, the Plan Administrator or Appeals
Fiduciary, as applicable, may schedule a hearing for purposes of reviewing the
claimant's claim, which hearing shall take place not more than thirty (30) days
from the date on which the Plan Administrator or Appeals Fiduciary received such
written application for review.

         11.6 NOTICE OF HEARING. At least ten (10) days prior to the scheduled
hearing, the claimant and his representative designated in writing by him, if
any, shall receive written notice of the date, time, and place of such scheduled
hearing. The claimant or his representative, if any, may request that the
hearing be rescheduled, for his convenience, on another reasonable date or at
another reasonable time or place.

         11.7 COUNSEL. All claimants requesting a review of the decision denying
their claim for benefits may employ counsel for purposes of the hearing.

         11.8 DECISION ON REVIEW. No later than sixty (60) days (forty-five (45)
days with respect to a claim for benefits due to the Participant's Disability)
following the receipt of the written application for review, the Plan
Administrator or the Appeals Fiduciary, as applicable, shall submit its decision
on the review in writing to the claimant involved and to his representative, if
any, unless the Plan Administrator or Appeals Fiduciary determines that special
circumstances (such as the need to hold a hearing) require an extension of time,
to a day no later than one hundred twenty (120) days (ninety (90) days with
respect to a claim for benefits due to the Participant's Disability) after the
date of receipt of the written application for review. If the Plan Administrator
or Appeals Fiduciary determines that the extension of time is required, the Plan
Administrator or Appeals Fiduciary shall furnish to the claimant written notice
of the extension before the expiration of the initial sixty (60) day (forty-five
(45) days with respect to a claim for benefits due to the Participant's
Disability) period. The extension notice shall indicate the special
circumstances requiring an extension of time and the date by which the Plan
Administrator or Appeals Fiduciary expects to render its decision on review. In
the case of a decision adverse to the claimant, the Plan Administrator or
Appeals Fiduciary shall provide to the claimant written notice of the denial
which shall include:

                  (a) the specific reasons for the decision;

                                       12
<PAGE>

                  (b) specific references to the pertinent provisions of the
         Plan on which the decision is based;

                  (c) 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 to the claimant's
         claim for benefits;

                  (d) an explanation of the Plan's claim review procedures, and
         the time limits applicable to such procedures, including a statement of
         the claimant's right to bring an action under Section 502(a) of ERISA
         following the denial of the claim upon review;

                  (e) in the case of a claim for benefits due to the
         Participant's Disability, if an internal rule, guideline, protocol or
         other similar criterion is relied upon in making the adverse
         determination, either the specific rule, guideline, protocol or other
         similar criterion; or a statement that such rule, guideline, protocol
         or other similar criterion was relied upon in making the decision and
         that a copy of such rule, guideline, protocol or other similar
         criterion will be provided free of charge upon request;

                  (f) in the case of a claim for benefits due to a Participant's
         Disability, if a denial of the claim is based on a medical necessity or
         experimental treatment or similar exclusion or limit, an explanation of
         the scientific or clinical judgment for the denial, an explanation
         applying the terms of the Plan to the claimant's medical circumstances
         or a statement that such explanation will be provided free of charge
         upon request; and

                  (g) in the case of a claim for benefits due to a Participant's
         Disability, a statement regarding the availability of other voluntary
         alternative dispute resolution options.

         11.9 APPEALS FIDUCIARY. For purposes of this Plan Section 11, the
Appeals Fiduciary means an individual or group of individuals appointed to
review appeals of claims for benefits payable due to a Participant's Disability.
The Plan Administrator shall appoint the Appeals Fiduciary. The Appeals
Fiduciary shall be required to review claims for benefits payable due to a
Participant's Disability that are initially denied by the Plan Administrator and
for which the claimant requests a full and fair review pursuant to this Plan
Section 11. The Appeals Fiduciary may not be the individual who made the initial
adverse determination with respect to any claim he reviews and may not be a
subordinate of any individual who made the initial adverse determination. The
Appeals Fiduciary may be removed in the same manner in which appointed or may
resign at any time by written notice of resignation to the Plan Administrator.
Upon such removal or resignation, the Plan Administrator shall appoint a
successor.

                                   SECTION 12
                  LIMITATION OF ASSIGNMENT, PAYMENTS TO LEGALLY
                 INCOMPETENT DISTRIBUTEE AND UNCLAIMED PAYMENTS
                 ----------------------------------------------

         12.1 NO ALIENATION. No benefit which shall be payable under the Plan to
any person shall be subject in any manner to anticipation, alienation, sale,
transfer, assignment, pledge,

                                       13
<PAGE>

encumbrance or charge, and any attempt to anticipate, alienate, sell, transfer,
assign, pledge, encumber or charge the same shall be void; and no such benefit
shall in any manner be liable for, or subject to, the debts, contracts,
liabilities, engagements or torts of any person, nor shall it be subject to
attachment or legal process for, or against, such person, and the same shall not
be recognized under the Plan, except to such extent as may be required by law.

         12.2 MINORS OR INCOMPETENTS. Whenever any benefit which shall be
payable under the Plan is to be paid to or for the benefit of any person who is
then a minor or determined to be incompetent by qualified medical advice, the
Plan Administrator need not require the appointment of a guardian or custodian,
but shall be authorized to cause the same to be paid over to the person having
custody of such minor or incompetent, or to cause the same to be paid to such
minor or incompetent without the intervention of a guardian or custodian, or to
cause the same to be paid to a legal guardian or custodian of such minor or
incompetent if one has been appointed or to cause the same to be used for the
benefit of such minor or incompetent.

         12.3 MISSING PERSONS. Whenever the Plan Administrator cannot, within a
reasonable time after payments are to commence, locate any person to or for the
benefit of whom such payments are to be made, after making a reasonable effort
to locate such person, the Plan Administrator may direct that the payment and
any remaining payments otherwise due to the Participant be cancelled on the
records of the Plan, except that in the event the Participant later notifies the
Plan Administrator of his whereabouts and requests the payments due to him under
the Plan, the Plan Sponsor shall re-credit the Participant's account and provide
for payment of the re-credited amount to the Participant as soon as
administratively feasible.

                                   SECTION 13
                              LIMITATION OF RIGHTS
                              --------------------

         Membership in the Plan shall not give any Employee any right or claim
except to the extent that such right is specifically fixed under the terms of
the Plan. The adoption of the Plan by any Plan Sponsor shall not be construed to
give any Employee a right to be continued in the employ of a Plan Sponsor or as
interfering with the right of a Plan Sponsor to terminate the employment of any
Employee at any time.

                                   SECTION 14
                     AMENDMENT TO OR TERMINATION OF THE PLAN
                     ---------------------------------------

         14.1 AMENDMENT AND TERMINATION. The Primary Sponsor or any successor
thereto reserves the right by action of the Board of Directors or its delegatee
at any time to modify or amend or terminate the Plan. No such modifications or
amendments shall have the effect of retroactively changing or depriving
Participants or Beneficiaries of benefits already accrued under the Plan.
Notwithstanding anything contained in the Plan to the contrary, upon termination
of the Plan, each Participant's Account shall be payable to the Participant as
soon thereafter as is reasonably practicable thereafter, unless such payments
would be considered an acceleration of benefits under Section 409A of the Code
in which case the Accounts shall be paid in due course in accordance with
Sections 6, 7 and 8. No Plan Sponsor other than the Primary Sponsor shall have
the right to so modify, amend or terminate the Plan.

                                       14
<PAGE>

         14.2 TERMINATION BY PLAN SPONSOR. Each Plan Sponsor other than the
Primary Sponsor shall have the right to terminate its participation in the Plan
by resolution of its board of directors or other appropriate governing body and
notice in writing to the Primary Sponsor. Any termination by a Plan Sponsor,
shall not be a termination as to any other Plan Sponsor. Any such termination
shall not trigger payment of any affected Participant's Account unless the
Primary Sponsor affirmatively determines otherwise by action of its Board of
Directors.

          14.3 TERMINATION BY PRIMARY SPONSOR. If the Plan is terminated by the
Primary Sponsor it shall terminate as to all Plan Sponsors.

                                   SECTION 15
                         ADOPTION OF PLAN BY AFFILIATES
                         ------------------------------

         Any corporation or other business entity related to the Primary Sponsor
by function or operation and any Affiliate, if the corporation, business entity
or Affiliate is authorized to do so by written direction adopted by the Board of
Directors, may adopt the Plan by action of the board of directors or other
appropriate governing body of such corporation, business entity or Affiliate.
Any adoption shall be evidenced by certified copies of the resolutions of the
foregoing board of directors or governing body indicating the adoption by the
adopting corporation, or business entity or Affiliate. The resolution shall
state and define the effective date of the adoption of the Plan by that Plan
Sponsor.

                                   SECTION 16
                                  MISCELLANEOUS
                                  -------------

         16.1 UNFUNDED PLAN. All payments provided under the Plan shall be paid
from the general assets of the applicable Plan Sponsor and no separate fund
shall be established to secure payment. Notwithstanding the foregoing, the
Primary Sponsor may establish a grantor trust to assist it in funding its
obligations under the Plan, and any payments made to a Participant or
Beneficiary from such trust shall relieve the Plan Sponsor from any further
obligations under the Plan only to the extent of such payment.

         16.2 WITHHOLDING. Each Plan Sponsor shall withhold from any benefits
payable under the Plan all federal, state and local income taxes or other taxes
required to be withheld pursuant to applicable law.

         16.3 GOVERNING LAW. To the extent not preempted by applicable federal
law, the Plan shall be governed by and construed in accordance with the laws of
the State of Georgia.

                                       15
<PAGE>

         IN WITNESS WHEREOF, the Primary Sponsor has caused this indenture to be
executed as of the date first written above.

                                             CNB HOLDINGS, INC.

                                             By:  /s/ H.N. Padget, Jr.
                                                  ------------------------------

                                             Title:  President/CEO
                                                     ---------------------------

ATTEST:

/s/ Brenda J. Boyd
----------------------------------

Title:  Executive Assistant
----------------------------------

         [CORPORATE SEAL]

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