Document:

Form of Business Cooperation Agreement

 Exhibit 10.21 
 English translation of the executed copy 
 Business Cooperation Agreement 
 THIS BUSINESS COOPERATION AGREEMENT (hereinafter the “THIS AGREEMENT”) is entered into between the following parties on January 1, 2007 in
Shanyang City, Liaoning Province: 
 Party A: Shenyang Sunshine Pharmaceutical Company Limited 
 Legal Address: No.3 1A No.10 Road of Shenyang Economic and Technological Development Zone 
 Legal Representative: Dan Lou 
 Party B: Liaoning Sunshine Bio-Pharmaceutical Company Limited 
 Legal Address: No.3 1A No.10 Road of Shenyang Economic and Technological Development Zone 
 Legal Representative: Jing Lou 
 Party C: 3sBio Inc. 
 Legal Address: Criket Square, Hutchins Drive, PO Box 2681 GT, George Town, 
 Grand Cayman, British West Indies. 
 Legal Representative: Dan Lou 
 WHEREAS, 
  

	1.	Party A is a foreign invested wholly owned enterprise established and validly subsisted according to the laws of the People’s Republic of China (hereinafter
“PRC”), which is mainly engaged in the manufacture of pharmaceuticals and have solid strength for technical support and proven experiences in market development services; 

  

	2.	Party B is a company with limited liability established and validly subsisted according to the laws of PRC, which is mainly engaged in the distribution of pharmaceuticals and
principally distribution of EPIAO, TPIAO, INTEFEN, INLEUSIN and other medicines manufactured by Party A; 

  

	3.	Party C is a company established and validly subsisted according to the laws of the Cayman Islands and it indirectly holds the whole equity interest of Party A through
Collected Mind Limited; 

  

	4.	During the course of conducting business operations, Party B cooperates with Party A for business, including but not limited to, relies on Party A to provide the services for
technical support and market development. Party A is willing to carry out the aforesaid business cooperation and Party C agrees to procure Party A to implement its obligations under this Agreement. 

  

 1 

 In witness thereof, through friendly consultation and in the principle of equality and mutual benefits, it is hereby
agreed as follows: 
 Article 1 Services for Technical Support and Market Development 
  

			
	1.1	  	All parties agrees that Party A, as an exclusive service provider for technical support and market development services, provides Party B comprehensive services for technical support and
market development, including but not limited to:
		
	1.1.1	  	Technical support services
		
	1.1.1.1	  	Technical consulting and staff training in respect of medicine examination and acceptance, inspection, maintenance and etc.;
		
	1.1.1.2	  	Establishment of quality control system for medicine operation;
		
	1.1.1.3	  	Related medicine inspection, leasing, maintenance and technical guidance relating to maintenance equipment;
		
	1.1.1.4	  	Other related technical consulting.
		
	1.1.2	  	Market development and consulting services
		
	1.1.2.1	  	Assisting in formulating market development plan;
		
	1.1.2.2	  	Providing market information and client resources information;
		
	1.1.2.3	  	Entrusted to conduct specified market research and investigation.
		
	1.1.3	  	Party A may, based upon the operational needs of Party B, decide to appoint sales persons of Party B and establish marketing networks.
		
	1.2	  	Party B shall actively support Party A to complete the abovementioned work, including but not limited to the provision of related operational documents, data, descriptions and
etc.
		
	1.3	  	Party A is an exclusive provider for technical support and market development services under this Agreement. Except for prior consent in writing by Party A, Party B shall not accept any
services for technical support and market development provided by any third party; however, Party A shall have the right to provide any other party with the same or similar services stipulated in this Agreement.
		
	1.4	  	Party A is entitled to the exclusive rights and interests in respect of any right, ownerships, interests and intellectual property rights of any kind arising from performance hereof. In case
this Agreement terminates or expires for whatsoever reasons, Party B shall return Party A all information delivered as result of performance hereof, including but not limited to information, data, know-how, commercial secrets as well as any rights,
ownerships, interests and intellectual property rights of any kind arisen from hereunder. All parties agree that this article shall survive any changes, rescission or termination hereof.

  

 2 

 Article 2 Service fees 
  

			
	2.1	  	All parties agree that Party B shall pay service fees to Party A in connection with the related business cooperation services prescribed in Article 1.1 hereunder provided by Party A to Party
B. The amount of service fees shall be 70% of Party B’s entire annual sales revenues.
		
	2.2	  	The time and method of payment for service fees shall be: with 7 days after each receivable is collected by Party B, it shall remit 70% of such amount to a bank account designated by Party
A.
	
	Article 3 Representations and Warranties by Part A and Party C
	
	Party A and Party C hereby represent and warrant to Party B that:
		
	3.1	  	Party A is a foreign invested wholly owned enterprise duly organized and validly subsisted according to the laws of PRC, which has all the necessary rights, powers and capacity to execute and
perform all the obligations and liabilities hereunder, and upon this Agreement being signed, it shall have legally and validly binding force on Party A.
		
	3.2	  	Party C is a company duly established and validly subsisted according to the laws of the Cayman Islands, which has all the necessary rights, powers and capacity to execute and perform all the
obligations and liabilities hereunder, and upon this Agreement being signed, it shall have legally and validly binding force on Party C.
		
	3.3	  	The execution, delivery and performance hereof by Party A and Party C do not breach any law, regulations, its articles of association or the provisions prescribed under other similar
documents, nor breach any contract, rule, verdict or adjudication made by any court or arbitrion body that are binding on Party A or its property.
		
	3.4	  	Party A and Party C have obtained all necessary approvals, consents, authorizations and permits required for its establishment and business operations, and all these are valid and
binding.

  

 3 

 Article 4 Representations and Warranties by Part B 
  

			
	Party B hereby represents and warrants and undertakes to Party A and Party C that:
		
	4.1	  	Party B is a company with limited liability duly organized and validly subsisted according to the laws of PRC, which has all the necessary rights, powers and capacity to execute and perform
all the obligations and liabilities hereunder, and this Agreement shall have legally and validly binding force on Party B once it is signed.
		
	4.2	  	The execution, delivery and performance hereof by Party B do not breach any law, regulation, its articles of association or the provisions prescribed under other similar documents, nor breach
any contract, rule, verdict or adjudication made by any court or arbitration body that are binding on Party B or its property.
		
	4.3	  	Party B has obtained all necessary approvals, consents, authorizations and permits required for its establishment and business operations, and all these are valid and
binding.
	
	Article 5 Undertakings by Part A and Party C
	
	Party A and Party C undertake to Party B that during the term of this Agreement:
		
	5.1	  	Party A hereby undertakes the performance of obligations hereunder in accordance to this Agreement.
		
	5.2	  	Party C hereby undertakes to support and supervise Party A’s performance of the obligations hereunder to procure the smooth performance of this Agreement.
	
	Article 6 Undertakings by Part B
	
	Party B undertakes to Party A and Party C that during the term of this Agreement:
		
	6.1	  	Party B shall not, without the prior written consent of the majority of independent directors of Party C:
		
	6.1.1	  	Make profit distribution or dividend payment or distributions in any other form to a direct or indirect beneficial owner of Party B;
		
	6.1.2	  	Make any investment in any form.
		
	6.2	  	Party B undertakes, without the prior written consent of majority of the independent directors of Party C, not to proceed with capital increase or decrease, or merger with other third party
(whether or not it is for the purpose of the company’s continuing subsistence), scission, dissolution, liquidation, change of corporate formation or issue of debentures.

  

 4 

			
	6.3	  	Except for the liabilities (including contingent liabilities) incurred and disclosed to Party A before the signing hereof, Party B undertakes, without the prior written consent of majority of
the independent directors of Party C, not to create or bear any new liabilities (including contingent liabilities).
		
	6.4	  	Party B shall not, without the prior written consent of majority of the independent directors of Party C, create mortgage in any form or other encumbrances in respect of all or part of its
assets.
		
	6.5	  	Party B shall not, without the prior written consent of majority of the independent directors of Party C, sell or bestow the major assets of Party B to any third party, or dispose of such
assets in any other manner.
		
	6.6	  	Party B undertakes not to be engaged in any business other than sale of pharmaceuticals, and, without the prior written consent of majority of the independent directors of Party C, in the
sale of pharmaceuticals produced by any pharmaceutical production enterprise other than Party A, except for those distributed by Party B before the signing hereof.
		
	6.7	  	Party B shall provide Party A with all financial and accounting information within 15 days after the end of every quarter and every fiscal year.
		
	6.8	  	Party B shall, according to the requirement of Party C, provide Party C with relevant financial information timely and accurately.
		
	6.9	  	Party B shall, according to the requirement of Party C, be cooperative in the auditing of its financial statements conducted by an independent accountant, and shall provide the auditor with
any information or render any necessary assistance as reasonably required for the purpose of such auditing.
		
	6.10	  	Party B agrees to, without its prior consent being obtained, have its name referred and business disclosed in any published report of Party C.
		
	6.11	  	Party B shall pay all taxes payable by it according to law.
		
	6.12	  	Except with the prior written consent of majority of the independent directors of Party C, Party C shall complete all necessary procedures to ensure the legal validity of the following
matters:
		
	6.12.1	  	the legitimate and valid subsistence of Party B;
		
	6.12.2	  	the valid subsistence of all necessary permits, licenses and certificates held by Party B for its production and operation.
	
	Article 7 Confidentiality
		
	7.1	  	For the purpose of this Agreement, the term “confidential information” includes but not limited to all or part of the content or information of the following information: Any
informtion given by any party hereto to the other parties and not stating as public information when provided for the purpose of this Agreement.

  

 5 

			
	7.2	  	Except with prior consent in writing by the confidential information providing party hereto, any party hereto shall not disclose the confidential information in any manner to any third
party.
		
	7.3	  	All parties shall adopt necessary measures to confine the circulation of the confidential information informed and known by each of them to relevant staff, agents or consultants only, and
shall ask them to abide by this Article strictly and not to disclose the confidential information to any third party. All parties undertake not to disclose the confidential information obtained from the other parties to their respective unrelated
staff.
		
	7.4	  	In the following circumstances, any party hereto shall not be deemed as disclosing or divulging confidential information:
		
	7.4.1	  	The divulged confidential information have been made public prior to the disclosure (except for those divulged in a manner that is breaching this Article);
		
	7.4.2	  	Consent in writing by the confidential information providing Party have been obtained through consulation;
		
	7.4.3	  	The disclosure is mandatory required by any government authority, by the relevant securities supervision authorities or under any laws and regulations.
		
	7.5	  	Any party hereto breaching this Article shall indemnify the other parties against any loss which the other Parties may incur as a result of such breach.
	
	Article 8 Liability for Default
		
	8.1	  	Any Party who breaches the provision hereof shall make compensation for any loss incurred on the non-defaulting party as a result of its default.
		
	8.2	  	The non-defaulting party’s waiver to any default by the defaulting Party shall be valid only in writing. Non-performance or delay in exercising of any rights or remedies hereunder shall
not constitute a waiver by the non-defaulting party hereto and partical exercise of rights or remedies shall not impede it to further exercise other rights or remedies.
		
	8.3	  	The validity herein shall not be affected by the termination or rescission of this Agreement.

  

 6 

 Article 9 Force majeure 
  

			
	9.1	  	Force majeure hereunder refers to war, fire and earthquake, flood, rainstorm, snow disaster and other act of God; or other events that are unforeseeable by the Parties hereto at the time when
this Agreement is entered into and the occurrence of which is irresistible and inevitable.
		
	9.2	  	In case either party hereto is incapable of performing or failed to timely perform all the obligations hereunder or part thereof due to the influence of force majeure, no party shall bear the
corresponding liabilities, but the concerned party hereto shall continue to perform the same after the influence of force majeure is removed. If the influence of force majeure has made the performance thereof impossible or unnecessary, all Parties
hereto shall manage to resolve the problem through friendly consultation.
	
	Article 10 Alteration, Rescission or Termination of this Agreement
		
	10.1	  	This Agreement may not be released without unanimous consent after consultation by the Parties hereto. Any alteration hereof shall be signed by the Parties hereto in writing and shall be
binding on the Parties hereto.
		
	10.2	  	Any alteration and rescission hereof shall not hinder the concerned party’s right to request compensation for damages. If either party hereto incur losses as a result of alteration or
rescission of this Agreement, except for those may be relieved of liability according to law, the defaulting party shall be responsible for the damages.
	
	Article 11 Applicable Laws and Settlement of Disputes
		
	11.1	  	The execution, validity, interpretation, performance, amendments and settlement of disputes relating to this Agreement are governed by PRC laws.
		
	11.2	  	The Parties hereto should settle all disputes arising from the performance of this Agreement through friendly consultation. In case the dispute cannot be settled through consultation, either
party shall have the right to sue at a PRC court with competent jurisdiction thereover against the other party.
	
	 Article 12 Miscellaneous

		
	12.1	  	This Agreement shall take effect from the date it is signed by the Parties hereto.
		
	12.2	  	After this Agreement takes effect and is implemented, the Parties hereto may enter into a supplementary agreement in respect of open terms of this Agreement or new conditions occurred in the
performance of the same. Such supplementary agreement forms an integral part of this Agreement and shall be of the same validity.

  

 7 

			
	12.3	  	The articles regarding confidentiality, settlement of disputes, and liability for default under this Agreement shall survive the rescission or termination hereof.
		
	12.4	  	Without prior consent in writing from the other parties, no party shall transfer its rights or obligations hereunder in whole or in part hereof to a third party.
		
	12.5	  	This Agreement is made in triplicate, with the Parties hereto each retaining one copy hereof, respectively. Each original shall be of the same legal effect.

 (no text below) 
  

 8 

 (signature page) 
 Party
A: Shenyang Sunshine Pharmaceutical Company Limited 
 Authorized Representative(s): /s/ Dan Lou (affixed with the company seal of Shenyang
Sunshine Pharmaceutical Company Limited) 
  

	Party	B: Liaoning Sunshine Bio-Pharmaceutical Company Limited 

 Authorized Representative(s): /s/ Jing Lou (affixed with the company seal of Liaoning Sunshine Bio-Pharmaceutical Company Limited) 
  

			
	 PartyC: 3SBio Inc.

		
	Authorized Representative(s):	 	 /s/ Dan Lou

  

 9 

 Schedule A 
 Business
Cooperation Agreement, which is substantially identical to Exhibit 10.21 except as to: 
  

			
	Parties:	  	Shenyang Sunshine Pharmaceutical Company Limited
		  	Beijing Sunshine, and
		  	3SBio Inc.
	Date:	  	January 1, 2007Exhibit 10.1

 Exhibit 10.1 
 EMPLOYEE STOCK OWNERSHIP PLAN 
 OF 
 CMS BANCORP, INC. 
 Effective as of [January 1, 2007] 

 TABLE OF CONTENTS 
  

					
	 	  	 	  	Page
		  	Article I	  	
			
		  	Definitions	  	
			
	Section 1.1	  	 Account
	  	1
	Section 1.2	  	 Affiliated Employer
	  	1
	Section 1.3	  	 Allocation Compensation
	  	1
	Section 1.4	  	 Bank
	  	2
	Section 1.5	  	 Board
	  	2
	Section 1.6	  	 Beneficiary
	  	2
	Section 1.7	  	 Change in Control
	  	2
	Section 1.8	  	 Code
	  	2
	Section 1.9	  	 Committee
	  	2
	Section 1.10	  	 Company
	  	2
	Section 1.11	  	 Designated Beneficiary
	  	2
	Section 1.12	  	 Disability
	  	3
	Section 1.13	  	 Discretionary Contribution
	  	3
	Section 1.14	  	 Domestic Relations Order
	  	3
	Section 1.15	  	 Eligibility Computation Period
	  	3
	Section 1.16	  	 Effective Date
	  	4
	Section 1.17	  	 Eligible Employee
	  	4
	Section 1.18	  	 Eligible Participant
	  	4
	Section 1.19	  	 Employee
	  	4
	Section 1.20	  	 Employment Commencement Date
	  	4
	Section 1.21	  	 ERISA
	  	4
	Section 1.22	  	 Exchange Act
	  	4
	Section 1.23	  	 Fair Market Value
	  	4
	Section 1.24	  	 Financed Share
	  	5
	Section 1.25	  	 Five Percent Owner
	  	5
	Section 1.26	  	 Forfeitures
	  	5
	Section 1.27	  	 Former Participant
	  	5
	Section 1.28	  	 General Investment Account
	  	5
	Section 1.29	  	 Highly Compensated Employee
	  	5
	Section 1.30	  	 Hour of Service
	  	6
	Section 1.31	  	 Investment Account
	  	6
	Section 1.32	  	 Investment Fund
	  	6
	Section 1.33	  	 Loan Repayment Account
	  	6
	Section 1.34	  	 Loan Repayment Contribution
	  	6
	Section 1.35	  	 Maternity or Paternity Leave
	  	6
	Section 1.36	  	 Military Service
	  	7
	Section 1.37	  	 Named Fiduciary
	  	7
	Section 1.38	  	 Officer
	  	7
	Section 1.39	  	 One-Year Break in Service
	  	7

  

 i 

					
	Section 1.40	  	 Participant
	  	7
	Section 1.41	  	 Participating Employer
	  	7
	Section 1.42	  	 Plan
	  	7
	Section 1.43	  	 Plan Administrator
	  	7
	Section 1.44	  	 Plan Year
	  	7
	Section 1.45	  	 Qualified Domestic Relations Order
	  	7
	Section 1.46	  	 Qualified Military Service
	  	8
	Section 1.47	  	 Qualified Participant
	  	8
	Section 1.48	  	 Retirement
	  	8
	Section 1.49	  	 Retroactive Contribution
	  	8
	Section 1.50	  	 Share
	  	8
	Section 1.51	  	 Share Acquisition Loan
	  	8
	Section 1.52	  	 Share Investment Account
	  	8
	Section 1.53	  	 Tender Offer
	  	8
	Section 1.54	  	 Total Compensation
	  	8
	Section 1.55	  	 Trust
	  	9
	Section 1.56	  	 Trust Agreement
	  	9
	Section 1.57	  	 Trust Fund
	  	9
	Section 1.58	  	 Trustee
	  	9
	Section 1.59	  	 Valuation Date
	  	9
	Section 1.60	  	 Vesting Computation Period
	  	9
	Section 1.61	  	 Year of Eligibility Service
	  	9
	Section 1.62	  	 Year of Vesting Service
	  	9
			
		  	Article II	  	
			
		  	Participation	  	
			
	Section 2.1	  	 Eligibility for Participation
	  	9
	Section 2.2	  	 Commencement of Participation
	  	10
	Section 2.3	  	 Termination of Participation
	  	10
			
		  	Article III	  	
			
		  	Special Provisions	  	
			
	Section 3.1	  	 Military Service
	  	10
	Section 3.2	  	 Maternity or Paternity Leave
	  	11
	Section 3.3	  	 Adjustments to Years of Eligibility Service
	  	11
	Section 3.4	  	 Leave of Absence
	  	11
	Section 3.5	  	 Family and Medical Leave
	  	12
	Section 3.6	  	 Service with Uniformed Forces
	  	12

  

 ii 

					
		  	Article IV	  	
			
		  	Contributions by Participants Not Permitted	  	
			
	Section 4.1	  	 Contributions by Participants Not Permitted
	  	12
			
		  	Article V	  	
			
		  	Contributions by the Employer	  	
			
	Section 5.1	  	 In General
	  	12
	Section 5.2	  	 Loan Repayment Contributions
	  	12
	Section 5.3	  	 Discretionary Contributions
	  	13
	Section 5.4	  	 Retroactive Contributions
	  	13
	Section 5.5	  	 Time and Manner of Payment
	  	14
			
		  	Article VI	  	
			
		  	Share Acquisition Loans	  	
			
	Section 6.1	  	 In General
	  	14
	Section 6.2	  	 Collateral; Liability for Repayment
	  	15
	Section 6.3	  	 Loan Repayment Account
	  	15
	Section 6.4	  	 Release of Financed Shares
	  	16
	Section 6.5	  	 Restrictions on Financed Shares
	  	17
			
		  	Article VII	  	
			
		  	Allocation of Contributions	  	
			
	Section 7.1	  	 Allocation Among Eligible Participants
	  	17
	Section 7.2	  	 Allocation of Released Shares or Other Property
	  	17
	Section 7.3	  	 Allocation of Discretionary Contributions
	  	17
			
		  	Article VIII	  	
			
		  	Limitations on Allocations	  	
			
	Section 8.1	  	 Optional Limitations on Allocations
	  	18
	Section 8.2	  	 General Limitations on Contributions
	  	18

  

 iii 

					
		  	Article IX	  	
			
		  	Vesting	  	
			
	Section 9.1	  	 Vesting
	  	20
	Section 9.2	  	 Vesting on Death, Disability, Retirement or Change in Control
	  	20
	Section 9.3	  	 Forfeitures on Termination of Employment
	  	20
	Section 9.4	  	 Amounts Credited Upon Re-Employment
	  	21
	Section 9.5	  	 Allocation of Forfeitures
	  	21
			
		  	Article X	  	
			
		  	The Trust Fund	  	
			
	Section 10.1	  	 The Trust Fund
	  	21
	Section 10.2	  	 Investments
	  	21
	Section 10.3	  	 Distributions for Diversification of Investments
	  	22
	Section 10.4	  	 Use of Commingled Trust Funds
	  	23
	Section 10.5	  	 Management and Control of Assets
	  	23
			
		  	Article XI	  	
			
		  	Valuation of Interests in the Trust Fund	  	
			
	Section 11.1	  	 Establishment of Investment Accounts
	  	23
	Section 11.2	  	 Share Investment Accounts
	  	24
	Section 11.3	  	 General Investment Accounts
	  	24
	Section 11.4	  	 Valuation of Investment Accounts
	  	24
	Section 11.5	  	 Annual Statements
	  	24
			
		  	Article XII	  	
			
		  	Shares	  	
			
	Section 12.1	  	 Specific Allocation of Shares
	  	25
	Section 12.2	  	 Dividends
	  	25
	Section 12.3	  	 Voting Rights
	  	25
	Section 12.4	  	 Tender Offers
	  	27
			
		  	Article XIII	  	
			
		  	Payment of Benefits	  	
			
	Section 13.1	  	 In General
	  	29
	Section 13.2	  	 Designation of Beneficiaries
	  	29
	Section 13.3	  	 Distributions to Participants and Former Participants
	  	30
	Section 13.4	  	 Manner of Payment
	  	31
	Section 13.5	  	 Minimum Required Distributions
	  	31

  

 iv 

					
	Section 13.6	  	 Direct Rollover of Eligible Rollover Distributions
	  	33
	Section 13.7	  	 Valuation of Shares Upon Distribution
	  	34
	Section 13.8	  	 Put Options
	  	34
	Section 13.9	  	 Right of First Refusal
	  	35
			
		  	Article XIV	  	
			
		  	Change in Control	  	
			
	Section 14.1	  	 Definition of Change in Control; Pending Change in Control
	  	36
	Section 14.2	  	 Vesting on Change of Control
	  	38
	Section 14.3	  	 Repayment of Share Acquisition Loan
	  	38
	Section 14.4	  	 Plan Termination After Change in Control
	  	38
	Section 14.5	  	 Amendment of Section XIV
	  	38
			
		  	Article XV	  	
			
		  	Administration	  	
			
	Section 15.1	  	 Named Fiduciaries
	  	38
	Section 15.2	  	 Plan Administrator
	  	39
	Section 15.3	  	 Committee Responsibilities
	  	40
	Section 15.4	  	 Claims Procedure
	  	41
	Section 15.5	  	 Claims Review Procedure
	  	41
	Section 15.6	  	 Allocation of Fiduciary Responsibilities and Employment of Advisors
	  	42
	Section 15.7	  	 Other Administrative Provisions
	  	42
			
		  	Article XVI	  	
			
		  	Amendment, Termination and Tax Qualification	  	
			
	Section 16.1	  	 Amendment and Termination by Community Mutual Bancorp, Inc
	  	43
	Section 16.2	  	 Amendment or Termination Other Than by Community Mutual Bancorp, Inc
	  	43
	Section 16.3	  	 Conformity to Internal Revenue Code
	  	44
	Section 16.4	  	 Contingent Nature of Contributions
	  	44
			
		  	Article XVII	  	
			
		  	Special Rules for Top Heavy Plan Years	  	
			
	Section 17.1	  	 In General
	  	45
	Section 17.2	  	 Definition of Top Heavy Plan
	  	45
	Section 17.3	  	 Determination Date
	  	45
	Section 17.4	  	 Cumulative Accrued Benefits
	  	46
	Section 17.5	  	 Key Employees
	  	46
	Section 17.6	  	 Required Aggregation Group
	  	47
	Section 17.7	  	 Permissible Aggregation Group
	  	47
	Section 17.8	  	 Special Requirements During Top Heavy Plan Years
	  	47

  

 v 

					
			
		  	Article XVIII	  	
			
		  	Miscellaneous Provisions	  	
			
	Section 18.1	  	 Governing Law
	  	48
	Section 18.2	  	 No Right to Continued Employment
	  	48
	Section 18.3	  	 Construction of Language
	  	48
	Section 18.4	  	 Headings
	  	48
	Section 18.5	  	 Merger with Other Plans
	  	48
	Section 18.6	  	 Non-alienation of Benefits
	  	49
	Section 18.7	  	 Procedures Involving Domestic Relations Orders
	  	49
	Section 18.8	  	 Leased Employees
	  	50
	Section 18.9	  	 Status as an Employee Stock Ownership Plan
	  	50

  

 vi 

 EMPLOYEE STOCK OWNERSHIP PLAN

 OF 
 CMS BANCORP, INC. 
 Article I 
 Definitions 
 The following definitions shall apply for the purposes of the
Plan, unless a different meaning is clearly indicated by the context: 
 Section 1.1 Account means an account established
for each Participant to which is allocated such Participant’s share, if any, of all Financed Shares and other property that are released from the Loan Repayment Account in accordance with section 6.4, together with his share, if any, of any
Discretionary Contributions that may be made by a Participating Employer. 
 Section 1.2 Affiliated Employer means the
Company; any corporation which is a member of a controlled group of corporations (as defined in section 414(b) of the Code) that includes the Company; any trade or business (whether or not incorporated) that is under common control (as defined in
section 414(c) of the Code) with the Company; any organization (whether or not incorporated) that is a member of an affiliated service group (as defined in section 414(m) of the Code) that includes the Company; any leasing organization (as defined
in section 414(n) of the Code) to the extent that any of its employees are required pursuant to section 414(n) of the Code to be treated as employees of the Company; and any other entity that is required to be aggregated with the Company pursuant to
regulations under section 414(o) of the Code. 
 Section 1.3 Allocation Compensation during any period means the
compensation taken into account in determining the allocation of benefits and contributions among Participants and consists of the aggregate compensation received by an Employee from the Employer or any Affiliated Employer with respect to such
period that constitute wages within the meaning of section 3401 of the Code plus the amount by which such Employee’s compensation with respect to such period has been reduced pursuant to a compensation reduction agreement under the terms of any
of the following plans which may be maintained by the Employer: 
 (a) a qualified cash or deferred arrangement described in
section 401(k) of the Code; 
 (b) a salary reduction simplified employee pension plan described in section 408(k) of the
Code; 
 (c) a tax deferred annuity plan described in section 403(b) of the Code; or 

 (d) a cafeteria plan described in section 125 of the Code and a transportation plan
described in Section 132(f) of the Code; but excluding any income related to any award or exercise of a stock option or the award, vesting or payment of dividends with respect to restricted stock. 
 In no event, however, shall an Employee’s Allocation Compensation for any calendar year include any compensation in excess of $225,000, or any such other amount as
may be prescribed in accordance with regulations prescribed under section 401(a)(17) of the Code. If there are less than twelve (12) months in the Plan Year, the $225,000 limitation (as adjusted) shall be prorated by multiplying such limitation
by a fraction, the numerator of which is the number of months in the Plan Year and the denominator of which is twelve (12). 
 Section 1.4 Bank means Community Mutual Savings Bank and any successor thereto. 
 Section 1.5
Board means the Board of Directors of CMS Bancorp, Inc. 
 Section 1.6 Beneficiary means the person or persons
designated by a Participant or Former Participant or other person entitled to a benefit under the Plan, or otherwise determined to be entitled to a benefit under the Plan. If more than one person is designated, each shall have an equal share unless
the person making the designation directed otherwise. The word “person” includes an individual, a trust, an estate or any other person that is permitted to be named as a Beneficiary. 
 Section 1.7 Change in Control means an event described in section 14.1. 
 Section 1.8 Code means the Internal Revenue Code of 1986 (including the corresponding provisions of any succeeding law). 

Section 1.9 Committee means the Compensation Committee described in section 15.3. 
 Section 1.10 Company means CMS Bancorp, Inc., a Delaware corporation, and any successor thereto. 
 Section 1.11 Designated Beneficiary means a natural person designated by a Participant or Former Participant as a Beneficiary under
Section 13.2 and shall not include any Beneficiary designated by a person other than a Participant or Former Participant or any Beneficiary other than a natural person. If a natural person is the beneficiary of a trust which a Participant or
Former Participant has named as his Beneficiary, such natural person shall be treated as a Designated Beneficiary if: (a) the trust is a valid trust under applicable state law (or would be a valid trust except for the fact that it does not have
a corpus); (b) the trust is irrevocable or will, by its terms, become irrevocable upon the death of the Participant or Former Participant; (c) the beneficiaries of the trust who are beneficiaries with respect to the trust’s interest
as a Beneficiary are identifiable from the terms of the trust instrument; and (d) the following information is furnished to the Committee: 
  

 2 

 (i) by the Participant or Former Participant, if any distributions are required to be
made pursuant to section 13.5 prior to the death of the Participant or Former Participant and the Participant’s or Former Participant’s spouse is his sole primary Beneficiary, either: (A) a copy of the trust instrument, together with
a written undertaking by the Participant or Former Participant to furnish to the Committee a copy of any subsequent amendment within a reasonable time after such amendment is made; or (B)(I) a list of all of the beneficiaries of the trust (including
contingent and remainderman beneficiaries with a description of the conditions on their entitlement); (II) a certification of the Participant or Former Participant to the effect that, to the best of his knowledge, such list is correct and complete
and that the conditions of section 1.11(a), (b) and (c) are satisfied; (III) a written undertaking to provide a new certification to the extent that an amendment changes any information previously certified; and (IV) a written undertaking
to furnish a copy of the trust instrument to the Committee on demand; and 
 (ii) by the trustee of the trust by
October 31st of the first calendar year that begins after the death of the Participant or Former Participant,
if any distributions are required to be made pursuant to section 13.5 after the death of the Participant or Former Participant, either: (A) a copy of the actual trust instrument for the trust; or (B)(I) a final list of all of the beneficiaries
of the trust (including contingent and remainderman beneficiaries with a description of the conditions on their entitlement) as of September 30th of the first calendar year that begins after the date of death; (II) a certification of the trustee to the effect that, to the best of his knowledge, such list is correct and complete and that the
conditions of section 1.11(a), (b) and (c) are satisfied; and (III) a written undertaking to furnish a copy of the trust instrument to the Committee on demand. 
 Section 1.12 Disability means a condition of total incapacity, mental or physical, for further performance of duty with all Participating Employers, which the Committee shall have determined, on the
basis of competent medical evidence, is likely to be permanent. 
 Section 1.13 Discretionary Contribution means Shares or
amounts of money contributed to the Plan by the Participating Employers in accordance with section 5.3. 
 Section 1.14 Domestic
Relations Order means a judgment, decree or order (including the approval of a property settlement) that is made pursuant to a state domestic relations or community property law and relates to the provision of child support, alimony
payments, or marital property rights to a spouse, child or other dependent of a Participant or Former Participant. 
 Section 1.15
Eligibility Computation Period means, with respect to any person, (a) the 12-consecutive month period beginning on such person’s Employment Commencement Date and (b) each 12-consecutive month period that begins on an
anniversary of such person’s Employment Commencement Date. 
  

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 Section 1.16 Effective Date means [January 1, 2007]. 
 Section 1.17 Eligible Employee means an Employee who is eligible for membership in the Plan in accordance with Article II. 

Section 1.18 Eligible Participant means, for any Plan Year, an Employee who is a Participant during all or any part of such Plan
Year and either remains a Participant on the last day of such Plan Year or terminated participation during such Plan Year on account of termination of employment, death, Disability or Retirement; provided, however, that no Employee shall be
an Eligible Participant for the Plan Year that includes the effective date of the transaction pursuant to which the Bank becomes a wholly owned subsidiary of CMS Bancorp, Inc. if he terminates employment for any reason with all Participating
Employers prior to such effective date. 
 Section 1.19 Employee means any person, including an officer, who is employed
by any Affiliated Employer. 
 Section 1.20 Employment Commencement Date means the date on which a person first performs
an Hour of Service, except that if an Employee separates from service with the Employer, incurs a One-Year Break in Service and subsequently returns to service with the Employer, his Employment Commencement Date shall be the date on which he first
performs an Hour of Service following the One-Year Break in Service. 
 Section 1.21 ERISA means the Employee Retirement
Income Security Act of 1974, as amended from time to time (including the corresponding provisions of any succeeding law). 
 Section 1.22 Exchange Act means the Securities Exchange Act of 1934, as amended from time to time (including the corresponding provisions of any succeeding law). 
 Section 1.23 Fair Market Value on any date means: 
 (a) with respect to a Share: 
 (i) the final quoted sale price on the date in question (or,
if there is no reported sale on such date, on the last preceding date on which any reported sale occurred) of a Share as reported in the principal consolidated reporting system with respect to securities listed or admitted to trading on the
principal United States securities exchange on which like Shares are listed or admitted to trading; or 
 (ii) if like Shares
are not listed or admitted to trading on any such exchange, the closing bid quotation with respect to a Share on such date on the National Association of Securities Dealers Automated Quotation System, or, if no such quotation is provided, on another
similar system, selected by the Committee, then in use; or 
  

 4 

 (iii) if sections 1.23(a)(i) and (ii) are not applicable, the fair market value of a
Share as determined by an appraiser independent of the Employer and experienced and expert in the field of corporate appraisal. 
 (b) with respect to property other than Shares, the fair market value determined in the manner selected by the Trustee. 
 Section 1.24 Financed Share means: (a) a Share that has been purchased with the proceeds of a Share Acquisition Loan, that has been allocated to the Loan Repayment Account in accordance with section 6.3 and that has
not been released in accordance with section 6.4; or (b) a Share that constitutes a dividend paid with respect to a Share described in section 1.24(a), that has been allocated to the Loan Repayment Account in accordance with section 6.3 and
that has not been released in accordance with section 6.4. 
 Section 1.25 Five Percent Owner means, for any Plan Year, a
person who, during such Plan Year, owned (or was considered as owning for purposes of section 318 of the Code): (a) more than 5% of the value of all classes of outstanding stock of any Affiliated Employer; or (b) stock possessing more than
5% of the combined voting power of all classes of outstanding stock of any Affiliated Employer. 
 Section 1.26
Forfeitures means the amounts forfeited by Participants and Former Participants on termination of employment prior to full vesting, pursuant to section 9.3, less amounts credited because of re-employment, pursuant to section 9.4. 

Section 1.27 Former Participant means a Participant whose participation in the Plan has terminated pursuant to section 2.3.

 Section 1.28 General Investment Account means an Investment Account established and maintained in accordance with
Article XI. 
 Section 1.29 Highly Compensated Employee means, for any Plan Year, an Employee who: 
 (i) was a Five Percent Owner at any time during such Plan Year or any prior Plan Year; or 
 (ii) received Total Compensation during the immediately preceding Plan Year (A) in excess of $100,000 (or such other amount as may be
prescribed by the Secretary of the Treasury pursuant to section 401(a)(17) of the Code); and (B) if elected by the Plan Administrator in such form and manner as the Secretary of the Treasury may prescribe, in excess of the Total Compensation
received for such preceding Plan Year by at least 80% of the Employees. 
 The determination of who is a Highly Compensated Employee will be made in
accordance with section 414(q) of the Code and the regulations thereunder. The Company has not elected to use the top 20% election mentioned in subparagraph (ii)(B) of this section. 
  

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 Section 1.30 Hour of Service means each hour for which a person is paid, or entitled
to payment, for the performance of duties for any Affiliated Employer, plus: 
 (c) each hour for which such person is paid,
or entitled to payments by an Affiliated Employer on account of a period during which no duties are performed due to vacation, holiday, illness, incapacity (including disability), layoff, jury duty, military duty, or leave of absence. Hours under
this section 1.30(a) shall be calculated and credited pursuant to section 2530.200b-2 of the Department of Labor’s regulations (or any successor regulation), which are incorporated herein by reference; and 
 (d) each hour for which back pay, irrespective of mitigation of damages, is either awarded or agreed to by any Affiliated Employer;
provided, however, that such hours have not previously been credited under other provisions of this section 1.30; and provided, further, that not more than 501 Hours of Service shall be credited under section 1.30(a) to such person on account of a
single continuous period during which such person performs no duties for an Affiliated Employer whether or not such period occurs in a single Plan Year. Hours under this section 1.30(b) shall be credited to the person for the Eligibility or Vesting
Computation Period or Eligibility or Vesting Computation Periods to which the award or agreement pertains, rather than the Eligibility or Vesting Computation Period in which the award, agreement or payment is made. 
 Anything in this section 1.30 to the contrary notwithstanding, no Hours of Service shall be credited for a payment made or due under a plan maintained solely for the
purpose of complying with applicable workmen’s compensation or disability insurance laws, or a payment which solely reimburses any person for medical or medically-related expenses incurred by such person. 
 Section 1.31 Investment Account means either a General Investment Account or a Share Investment Account. 
 Section 1.32 Investment Fund means any one of the three or more funds as may be established from time to time by the Committee which,
together with any and all Shares and other investments held under the Plan, constitute the Trust Fund. 
 Section 1.33 Loan
Repayment Account means an account established and maintained in accordance with section 6.3. 
 Section 1.34 Loan
Repayment Contribution means amounts of money contributed to the Plan by the Participating Employers in accordance with section 5.2. 
 Section 1.35 Maternity or Paternity Leave means a person’s absence from work for all Affiliated Employers: (a) by reason of the pregnancy of such person; (b) by reason of the birth of a child of such
person; (c) by reason of the placement of a child with the person in connection with the adoption of such child by such person; or (d) for purposes of caring for a child of such person immediately following the birth of the child or the
placement of the child with such person. 
  

 6 

 Section 1.36 Military Service means service in the armed forces of the United States,
including but not limited to Qualified Military Service. It may also include, if and to the extent that the Board so provides and if all Participants and Former Participants in like circumstances are similarly treated, special service for the
government of the United States and other public service. 
 Section 1.37 Named Fiduciary means any person, committee,
corporation or organization described in section 15.1. 
 Section 1.38 Officer means an Employee who is an administrative
executive in regular and continued service with any Affiliated Employer; provided, however, that at no time shall more than the lesser of (a) 50 Employees or (b) the greater of (i) 3 Employees or (ii) 10% of all Employees be
treated as Officers. The determination of whether an Employee is to be considered an Officer shall be made in accordance with section 416(i) of the Code. 
 Section 1.39 One-Year Break in Service means an Eligibility or Vesting Computation Period during which an Employee fails to complete more than 500 Hours of Service. 
 Section 1.40 Participant means any person who has satisfied the eligibility requirements set forth in section 2.1, who has become a
Participant in accordance with section 2.2, and whose membership has not terminated under section 2.3. 
 Section 1.41
Participating Employer means the Bank, and any successor thereto and any other Affiliated Employer which, with the prior written approval of the Board of Directors of CMS Bancorp, Inc. and subject to such terms and conditions as may be
imposed by the Board of Directors of CMS Bancorp, Inc., shall adopt this Plan. 
 Section 1.42 Plan means the Employee
Stock Ownership Plan of CMS Bancorp, Inc., as amended from time to time. 
 Section 1.43 Plan Administrator means the
Committee or any person, committee, corporation or organization designated in section 15.2, or appointed pursuant to section 15.2, to perform the responsibilities of that office. 
 Section 1.44 Plan Year means the period commencing on the January 1, 2007 and ending on December 31, 2007 and each fiscal
year ending on each December 31st thereafter. 
 Section 1.45 Qualified Domestic Relations Order means a Domestic
Relations Order that: (a) clearly specifies (i) the name and last known mailing address of the Participant or Former Participant and of each person given rights under such Domestic Relations Order, (ii) the amount or percentages of
the Participant’s or Former Participant’s benefits under this Plan to be paid to each person covered by such Domestic Relations Order, (iii) the number of payments or the period to which such Domestic Relations Order applies, and
(iv) the name of this Plan; and (b) does not require the payment of a benefit in a form or amount that is (i) not otherwise provided for under the Plan, or (ii) inconsistent with a previous Qualified Domestic Relations Order.

  

 7 

 Section 1.46 Qualified Military Service means with respect to any person on any date,
any service in the uniformed services of the United States (as defined in chapter 43 of Title 38 of the United States Code) completed prior to such date, but only if, on such date, such person is entitled to re-employment rights with respect to an
Affiliated Employer on account of such service. 
 Section 1.47 Qualified Participant means a Participant who has attained
age 55 and who has been a Participant of the Plan for at least 10 years. 
 Section 1.48 Retirement means: (a) any
termination of membership in the Plan at or after attainment of age 65; and (b) any retirement under an applicable qualified defined benefit plan of the Employer as in effect from time to time with entitlement to a normal or early (but not
vested, whether immediate or deferred) retirement allowance. 
 Section 1.49 Retroactive Contribution means a contribution
made on a retroactive basis in respect of a period of Qualified Military Service in accordance with section 5.4. 
 Section 1.50
Share means a share of any class of stock issued by any Affiliated Employer; provided, however, that such share is a “qualifying employer security” within the meaning of section 409(l) of the Code and section 407(d)(5) of ERISA.

 Section 1.51 Share Acquisition Loan means a loan obtained by the Trustee in accordance with Article VI. 
 Section 1.52 Share Investment Account means an Investment Account established and maintained in accordance with Article XI.

 Section 1.53 Tender Offer means a tender offer made to holders of any one or more classes of Shares generally, or any
other offer made to holders of any one or more classes of Shares generally to purchase, exchange, redeem or otherwise transfer Shares, whether for cash or other consideration whether or not such offer constitutes a “tender offer” or an
“exchange offer” for purposes of the Exchange Act. 
 Section 1.54 Total Compensation during any period means an
Employee’s aggregate total compensation paid by the Employer and any Affiliated Employer with respect to such period that constitutes wages within the meaning of section 3401 of the Code, plus any amounts by which the Employee’s
compensation paid by the Employer or any Affiliated Employer has been reduced pursuant to a compensation reduction agreement under the terms of any qualified cash or deferred arrangement described in section 401(k) of the Code, any salary reduction
simplified employee pension plan described in section 408(k) of the Code, any tax deferred annuity plan described in section 403(b) of the Code, any cafeteria plan described in section 125 of the Code, any transportation program described in
Section 132(f) of the Code or any compensation reduction agreement under the terms of any plan described in section 457 of the Code. In no event, however, shall an Employee’s Total Compensation for any calendar year include any
compensation in excess of $225,000 (or such other amount as may be permitted under section 401(a)(17) of the Code). 
  

 8 

 Section 1.55 Trust means the legal relationship created by the Trust Agreement
pursuant to which the Trustee holds the Trust Fund in trust. 
 Section 1.56 Trust Agreement means the agreement between
the Bank and the Trustee therein named or its successors pursuant to which the Trust Fund shall be held in trust. 
 Section 1.57
Trust Fund means the corpus (consisting of contributions paid over to the Trustee and investments thereof), and all earnings, appreciation or additions thereof and thereto, held by the Trustee under the Trust Agreement in accordance with the
Plan, less any depreciation thereof and any payments made therefrom pursuant to the Plan. 
 Section 1.58 Trustee means
the Trustee of the Trust Fund from time to time in office. The Trustee shall serve as Trustee until it is removed or resigns from office and is replaced by a successor Trustee appointed in accordance with the terms of the Trust Agreement.

 Section 1.59 Valuation Date means the last business day of each Plan Year and such other dates as the Plan
Administrator may prescribe. 
 Section 1.60 Vesting Computation Period means, with respect to any person, the Plan Year.

 Section 1.61 Year of Eligibility Service means an Eligibility Computation Period during which the Employee completed at
least 1,000 Hours of Service. 
 Section 1.62 Year of Vesting Service means a Vesting Computation Period during which the
Employee completed at least 1,000 Hours of Service. 
 Article II 
 Participation 
 Section 2.1 Eligibility for Participation.

 (a) Only Eligible Employees may be or become Participant of the Plan. An Employee shall be an Eligible Employee if he (i) is
employed by one or more Participating Employers; (ii) has attained age 18; (iii) has completed at least one Year of Eligibility Service; and (iv) is not excluded under section 2.1(b). 
 (b) An Employee is not an Eligible Employee if he: 
 (i) does not receive Allocation Compensation from at least one Participating Employer; 
 (ii) is an Employee who has waived any
claim to participation in the Plan; 
 (iii) is an Employee or in a unit of Employees covered by a collective bargaining agreement with the
Employer where retirement benefits were the subject of good faith bargaining, unless such agreement expressly provides that Employees such as he be covered under the Plan; 
  

 9 

 (iv) is a “leased employee” as defined in section 18.8(a); or 
 (v) is classified as an “independent contractor” by the Employer, even if considered a common-law employee under applicable law. 
 Section 2.2 Commencement of Participation. 
 Every Employee who is an Eligible Employee on the effective date of the transaction whereby the Bank becomes a wholly owned subsidiary of CMS Bancorp, Inc. shall automatically become a Participant as of the Effective
Date. An Employee who becomes an Eligible Employee after the Effective Date shall automatically become a Participant on the January 1st, April 1st, July 1st or October 1st
coincident with or next following the Eligibility Computation Period in which he becomes an Eligible Employee. 
 Section 2.3
Termination of Participation. 
 Participation in the Plan shall cease, and a Participant shall become a Former Participant, upon
termination of employment with all Participating Employers, death, Disability or Retirement, failure to return to work upon the expiration of a leave of absence granted pursuant to section 3.3, becoming an Employee who is excluded under section
2.1(b) or distribution of the entire vested interest in his Account. 
 Article III 
 Special Provisions 
 Section 3.1 Military Service. 
 In the case of a termination of employment of any Employee to enter directly into
Military Service, the entire period of his absence shall be treated, for purposes of vesting and eligibility for participation (but not, except as required by law, for purposes of eligibility to share in allocations of contributions in accordance
with Article VII), as if he had worked for the Employer during the period of his absence. In the event of the re-employment of such person by the Employer within a period of not more than six months: 
 (a) after he becomes entitled to release or discharge, if he has entered into the armed forces; or 
 (b) after such service terminates, if he has entered into other service defined as Military Service; or 
 (c) release from hospitalization continuing after discharge from the uniformed services of the United States for a period of not more than two years;

 such period, also, shall be deemed to be Military Service. 
  

 10 

 Section 3.2 Maternity or Paternity Leave. 
 (a) Subject to section 3.2(c), in the event of an Employee’s absence from work in the service of the Employer and all Affiliated Employers for a
period: 
 (i) that commences on or after October 1, 1985; 
 (ii) for which the person is not paid or entitled to payment by the Employer or any Affiliated Employer; and 
 (iii) that constitutes Maternity or Paternity Leave; 
 then the rules of section 3.2(b) shall apply. 
 (b) In cases of absence described in section 3.2(a), solely for purposes of determining whether a One-Year Break in Service has occurred, the person
shall be credited for the period of an absence described in section 3.2(a) with the number of Hours of Service equal to the lesser of: 
 (i)
(A) the number of Hours of Service that would have been credited to the person if he had continued working for the Bank or an Affiliated Employer during the period of such absence, or (B) if the number of Hours of Service prescribed under
section 3.2(b)(i)(A) cannot be determined, 8 Hours of Service for each working day during the period of absence; or 
 (ii) 501 Hours of
Service. 
 Such credit shall be given during the Computation Period during which such absence began, if necessary to prevent a One-Year Break
in Service from occurring during such Computation Period, and in all other cases, such credit shall be given during the immediately following Computation Period. 
 (c) Notwithstanding anything in the Plan to the contrary, this section 3.2 shall not apply unless the person furnishes to the Plan Administrator such information as the Plan Administrator may reasonably require in
order to establish (i) that the person’s absence is one described in section 3.2(a), and (ii) the number of working days during such absence. 
 Section 3.3 Adjustments to Years of Eligibility Service. 
 The Years of Eligibility
Service of an Employee who returns to the employment of the Employer or any Affiliated Employer following a separation from service shall include his Years of Eligibility Service prior to such separation from service, and such an Employee shall be
readmitted to participation immediately upon his return to service if he is then an Eligible Employee. 
 Section 3.4 Leave of
Absence. 
 In the event of temporary absence from work in the service of the Employer and all Affiliated Employers for any period for
which a Participant shall have been granted a leave of 

  

 11 

 
absence by the Employer, the entire period of his absence shall be treated for purposes of vesting and eligibility for participation (but not for purposes of
eligibility to share in the allocation of contributions in accordance with Article VII), as if he had worked for the Employer during the period of his absence. Absence from work for a period greater than, or failure to return to work upon the
expiration of, the period of leave of absence granted by the Employer shall terminate participation in the Plan as of the date on which such period ended. In granting leaves of absence for purposes of the Plan, all Employees in like circumstances
shall be similarly treated. 
 Section 3.5 Family and Medical Leave. 
 In the event of absence for a period recognized a family and medical leave under the federal Family and Medical Leave Act of 1992, the period of such
absence shall be recognized for purposes of vesting and eligibility to participate to the full extent required by law. 
 Section 3.6 Service with Uniformed Forces. 
 Periods of service with the uniformed forces of the United States
shall be treated in the manner required pursuant to section 414(u) of the Code. 
 Article IV 
 Contributions by Participants Not Permitted 
 Section 4.1 Contributions by Participants Not Permitted. 
 Participants shall not be required, nor shall they be
permitted, to make contributions to the Plan. 
 Article V 
 Contributions by the Employer 
 Section 5.1 In General. 
 Subject to the limitations of Article VIII, for each Plan Year, the Participating Employers shall contribute to the Plan the amount, if any, determined by
the Board of Directors of CMS Bancorp, Inc., but in no event less than the amount described in section 5.2(a). The amount contributed for any Plan Year shall be treated as a Loan Repayment Contribution, a Discretionary Contribution, or a combination
thereof, in accordance with the provisions of this Article V. 
 Section 5.2 Loan Repayment Contributions. 
 For each Plan Year, a portion of the Participating Employers’ contributions, if any, to the Plan equal to the sum of: 
 (e) the minimum amount required to be added to the Loan Repayment Account in order to provide adequate funds for the payment of the
principal and interest then required to be repaid under the terms of any outstanding Share Acquisition Loan obtained by the Trustee; plus 
  

 12 

 (f) the additional amount, if any, designated by the Committee to be applied to the
prepayment of principal or interest under the terms of any outstanding Share Acquisition Loan obtained by the Trustee; 
 shall be treated as a Loan
Repayment Contribution for such Plan Year. A Loan Repayment Contribution for a Plan Year shall be allocated to the Loan Repayment Account and shall be applied by the Trustee, in the manner directed by the Committee, to the payment of accrued
interest and to the reduction of the principal balance of any Share Acquisition Loan obtained by the Trustee that is outstanding on the date on which the Loan Repayment Contribution is made. To the extent that a Loan Repayment Contribution for a
Plan Year results in a release of Financed Shares in accordance with section 6.4, such Shares shall be allocated among the Accounts of Eligible Participants for such Plan Year in accordance with section 7.2. 
 Section 5.3 Discretionary Contributions. 
 In the event that the amount of the Participating Employers’ contributions to the Plan for a Plan Year exceeds the amount of the Loan Repayment Contributions for such Plan Year, such excess shall be treated as a
Discretionary Contribution and shall be allocated among the Accounts of the Eligible Participants for such Plan Year in accordance with section 7.3. 
 Section 5.4 Retroactive Contributions. 
 A Participating Employer shall make a Retroactive
Contribution in respect of any individual previously employed by it who is re-employed by any Affiliated Employer after December 12, 1994 following the completion of a period of Qualified Military Service. Such Retroactive Contribution shall be
made in the following manner for each Plan Year that includes any part of the period of Qualified Military Service: 
 (a) An
allocation percentage shall be computed by dividing (i) the sum of the Fair Market Value of all Financed Shares allocated to Eligible Participants for such Plan Year plus the dollar amount of all Discretionary Contributions made in cash for
such Plan Year plus the Fair Market Value of all Discretionary Contributions made in Shares for such Plan Year, divided by (ii) the aggregate amount of Allocation Compensation used in the allocation for such Plan Year. Fair Market Value for
such purposes shall be determined as of the last day of the Plan Year. 
 (b) A notional allocation shall be determined by
multiplying (A) the percentage determined under section 5.4(a) by (B) the Allocation Compensation which the individual would have had for such Plan Year if he had remained in the service of his Participating Employer in the same capacity
and earning Allocation Compensation and Total Compensation at the annual rates in effect immediately prior to the commencement of the Qualified Military Leave (or, if such rates are not reasonably certain, at an annual rate equal to the actual
Allocation Compensation and Total Compensation, respectively, paid to him for the 12-month period immediately preceding the Qualified Military Service). 
  

 13 

 (c) An actual Retroactive Contribution for the Plan Year shall be determined by computing
the excess of (A) the notional allocation determined under section 5.4(b) over (B) the sum of the dollar amount of any Discretionary Contribution in cash, the Fair Market Value of any Discretionary Contribution in Shares and the Fair
Market Value of any Financed Shares actually allocated to such individual for such Plan Year. 
 Section 5.5 Time and Manner of
Payment. 
 (a) Payment of contributions made pursuant to this Article V shall be made: (i) in cash, in the case of a Loan
Repayment Contribution; and (ii) in cash, in Shares, or in a combination of cash and Shares, in the case of an Discretionary Contribution or a Retroactive Contribution. 
 (b) Contributions made pursuant to this Article V for a Plan Year shall be paid to the Trust Fund on or before the due date (including any extensions
thereof) of the Employer’s federal income tax return for its taxable year during which such Plan Year ends. All such contributions shall be allocated to the Accounts of the Eligible Participants in the case of a Discretionary Contribution, to
the Account of the Participant for whom it is made in the case of a Retroactive Contribution, and to the Loan Repayment Account in the case of a Loan Repayment Contribution, as soon as is practicable following the payment thereof to the Trust Fund.

 Article VI 
 Share
Acquisition Loans 
 Section 6.1 In General. 
 The Committee may, with the prior approval of the Board of Directors of CMS Bancorp, Inc., direct the Trustee to obtain a Share Acquisition Loan on behalf
of the Plan, the proceeds of which shall be applied on the earliest practicable date: 
 (a) to purchase Shares; or

 (b) to make payments of principal or interest, or a combination of principal and interest, with respect to such Share
Acquisition Loan; or 
 (c) to make payments of principal and interest, or a combination of principal and interest, with
respect to a previously obtained Share Acquisition Loan that is then outstanding. 
 Any such Share Acquisition Loan shall be obtained on such terms and
conditions as the Committee may approve; provided, however, that such terms and conditions shall provide for the payment of interest at no more than a reasonable rate and shall permit such Share Acquisition Loan to satisfy the requirements of
section 4975(d)(3) of the Code and section 408(b)(3) of ERISA. 
  

 14 

 Section 6.2 Collateral; Liability for Repayment. 
 (a) The Committee may direct the Trustee to pledge, at the time a Share Acquisition Loan is obtained, the following assets of the Plan as collateral for
such Share Acquisition Loan: 
 (i) any Shares purchased with the proceeds of such Share Acquisition Loan and any earnings
attributable thereto; 
 (ii) any Financed Shares then pledged as collateral for a prior Share Acquisition Loan which is
repaid with the proceeds of such Share Acquisition Loan and any earnings attributable thereto; and 
 (iii) pending the
application thereof to purchase Shares or repay a prior Share Acquisition Loan, the proceeds of such Share Acquisition Loan and any earnings attributable thereto. 
 Except as specifically provided in this section 6.2(a), no assets of the Plan shall be pledged as collateral for the repayment of any Share Acquisition Loan. 
 (b) No person entitled to payment under a Share Acquisition Loan shall have any right to the assets of the Plan except for: 
 (i) Financed Shares that have been pledged as collateral for such Share Acquisition Loan pursuant to section 6.2(a); 
 (ii) Loan Repayment Contributions made pursuant to section 5.2; and 
 (iii) earnings
attributable to Financed Shares described in section 6.2(b)(i) and to Loan Repayment Contributions described in section 6.2(b)(ii). 
 Except in the event of
a default or a refinancing pursuant to which an existing Share Acquisition Loan is repaid or as provided in section 14.3, the aggregate amount of all payments of principal and interest made by the Trustee with respect to all Share Acquisition Loans
obtained on behalf of the Plan shall at no time exceed the aggregate amount of all Loan Repayment Contributions theretofore made plus the aggregate amount of all earnings (other than dividends paid in the form of Shares) attributable to Financed
Shares and to such Loan Repayment Contributions. 
 (c) Any Share Acquisition Loan shall be without recourse against the Plan and Trust.

 Section 6.3 Loan Repayment Account. 
 In the event that one or more Share Acquisition Loans shall be obtained, a Loan Repayment Account shall be established under the Plan. The Loan Repayment Account shall be 

  

 15 

 
credited with all Shares acquired with the proceeds of a Share Acquisition Loan, all Loan Repayment Contributions and all earnings (including dividends paid
in the form of Shares) or appreciation attributable to such Shares and Loan Repayment Contributions. The Loan Repayment Account shall be charged with all payments of principal and interest made by the Trustee with respect to any Share Acquisition
Loan, all Shares released in accordance with section 6.4 and all losses, depreciation or expenses attributable to Shares or to other property credited thereto. The Financed Shares, as well as any earnings thereon, shall be allocated to such Loan
Repayment Account and shall be accounted for separately from all other amounts or property contributed under the Plan. 
 Section 6.4 Release of Financed Shares. 
 As of the last day of each Plan Year during which a Share Acquisition
Loan is outstanding, a portion of the Financed Shares purchased with the proceeds of such Share Acquisition Loan and allocated to the Loan Repayment Account shall be released. The number of Financed Shares released in any such Plan Year shall be
equal to the amount determined according to one of the following methods: 
 (a) by computing the product of: (i) the
number of Financed Shares purchased with the proceeds of such Share Acquisition Loan and allocated to the Loan Repayment Account immediately before the release is effected; multiplied by (ii) a fraction, the numerator of which is the aggregate
amount of the principal and interest payments (other than payments made upon the refinancing of a Share Acquisition Loan as contemplated by section 6.1(c)) made with respect to such Share Acquisition Loan during such Plan Year, and the denominator
of which is the aggregate amount of all principal and interest remaining to be paid with respect to such Share Acquisition Loan as of the first day of such Plan Year; or 
 (b) by computing the product of: (i) the number of Financed Shares purchased with the proceeds of such Share Acquisition Loan and
allocated to the Loan Repayment Account immediately before the release is effected; multiplied by (ii) a fraction, the numerator of which is the aggregate amount of the principal payments (other than payments made upon the refinancing of a
Share Acquisition Loan as contemplated by section 6.1(c)) made with respect to such Share Acquisition Loan during such Plan Year, and the denominator of which is the aggregate amount of all principal remaining to be paid with respect to such Share
Acquisition Loan as of the first day of such Plan Year; provided, however, that the method described in this section 6.4(b) may be used only if the Share Acquisition Loan does not extend for a period in excess of 10 years after the date of
origination and only to the extent that principal payments on such Share Acquisition Loan are made at least as rapidly as under a loan of like principal amount with a like interest rate and term requiring level amortization of principal and
interest. 
 The method to be used shall be specified in the documents governing the Share Acquisition Loan or, if not specified therein, prescribed by the
Committee, in its discretion. In the event that property other than, or in addition to, Financed Shares shall be held in the Loan Repayment 

  

 16 

 
Account and pledged as collateral for a Share Acquisition Loan, then the property to be released pursuant to this section 6.4 shall be property having a Fair
Market Value determined by applying the method to be used to the Fair Market Value of all property pledged as collateral for such Share Acquisition Loan; provided, however, that no property other than Financed Shares shall be released pursuant to
this section 6.4 unless all Financed Shares have previously been released. 
 Section 6.5 Restrictions on Financed Shares.

 Except to the extent required under any applicable law, rule or regulation, no Shares purchased with the proceeds of a Share
Acquisition Loan shall be subject to a put, call or other option, or to any buy-sell or similar arrangement, while held by the Trustee or when distributed from the Plan. The provisions of this section 6.5 shall continue to apply in the event that
this Plan shall cease to be an employee stock ownership plan, within the meaning of section 4975(e)(7) of the Code. 
 Article VII

 Allocation of Contributions 
 Section 7.1 Allocation Among Eligible Participants. 
 Subject to the limitations of Article VIII, Discretionary
Contributions for a Plan Year made in accordance with section 5.3 and Financed Shares and other property that are released from the Loan Repayment Account for a Plan Year in accordance with section 6.4 shall be allocated among the Eligible
Participants for such Plan Year, in the manner provided in this Article VII. 
 Section 7.2 Allocation of Released Shares or Other
Property. 
 Subject to the limitations of Article VIII, in the event that Financed Shares or other property are released from the
Loan Repayment Account for a Plan Year in accordance with section 6.4, such released Shares or other property shall be allocated among the Accounts of the Eligible Participants for the Plan Year in the proportion that each such Eligible
Participant’s Allocation Compensation for the portion of such Plan Year during which he was a Participant bears to the aggregate of such Allocation Compensation of all Eligible Participants for such Plan Year. 
 Section 7.3 Allocation of Discretionary Contributions. 
 Subject to the limitations of Article VIII, in the event that the Participating Employers make Discretionary Contributions for a Plan Year, such Discretionary Contributions shall be allocated among the Accounts of the
Eligible Participants for such Plan Year in the proportion that each such Eligible Participant’s Allocation Compensation for the portion of such Plan Year during which he was a Participant bears to the aggregate of such Allocation Compensation
of all Eligible Participants for such Plan Year. 
  

 17 

 Article VIII 
 Limitations on Allocations 
 Section 8.1 Optional Limitations on Allocations.

 If, for any Plan Year, the application of sections 7.2 and 7.3 would result in more than one-third of the number of Shares or of
the amount of money or property to be allocated thereunder being allocated to the Accounts of Eligible Participants for such Plan Year who are also Highly Compensated Employees for such Plan Year, then the Committee may, but shall not be required
to, direct that this section 8.1 shall apply in lieu of sections 7.2 and 7.3. If the Committee gives such a direction, then the Committee shall impose a maximum dollar limitation on the amount of Allocation Compensation that may be taken into
account for each Eligible Participant. The dollar limitation which shall be imposed shall be the limitation which produces the result that the aggregate Allocation Compensation taken into account for Eligible Participant who are Highly Compensated
Employees, constitutes exactly one-third of the aggregate Allocation Compensation taken into account for all Eligible Participants. 
 Section 8.2 General Limitations on Contributions. 
 (a) No amount shall be allocated to a Participant’s
Account under this Plan for any Limitation Year to the extent that such an allocation would result in an Annual Addition of an amount greater than the lesser of (i) $45,000 (or such other amount as is permissible under section 415(c)(1)(A) of
the Code), or (ii) 100% of the Participant’s Total Compensation for such Limitation Year. 
 (b) For purposes of this section 8.2,
the following special definitions shall apply: 
 (i) Annual Addition means the sum of the following amounts
allocated on behalf of a Participant for a Limitation Year: 
 (A) all contributions by the Employer (including contributions
made under a salary reduction agreement pursuant to sections 401(k), 408(k) or 403(b) of the Code) under any qualified defined contribution plan or simplified employee pension (other than this Plan) maintained by the Employer, as well as the
Participant’s allocable share, if any, of any forfeitures under such plans as well as amounts allocated to an individual medical benefit account, as defined in section 415(l)(2) of the Code, which is part of a pension or annuity plan maintained
by the Employer; plus 
 (B) the sum of all of the nondeductible voluntary contributions under any other qualified defined
contribution plan (whether or not terminated) maintained by the Employer; 
 (C) all Discretionary Contributions under this
Plan; plus 
  

 18 

 (D) except as hereinafter provided in this section 8.2(b)(i), a portion of the
Employer’s Loan Repayment Contributions to the Plan for such Limitation Year which bears the same proportion to the total amount of the Employer’s Loan Repayment Contributions for the Limitation Year that the number of Shares (or the Fair
Market Value of property other than Shares) allocated to the Participant’s Account pursuant to section 7.2 or 8.1, whichever is applicable, bears to the aggregate number of Shares (or Fair Market Value of property other than Shares) so
allocated to all Participants for such Limitation Year. 
 Notwithstanding section 8.2(b)(i)(D), if, for any Limitation Year, the aggregate
amount of Discretionary Contributions allocated to the Accounts of the individuals who are Highly Compensated Employees for such Limitation Year, when added to such Highly Compensated Employees’ allocable share of any Loan Repayment
Contributions for such Limitation Year, does not exceed one-third of the total of all Discretionary Contributions and Loan Repayment Contributions for such Limitation Year, then that portion, if any, of the Loan Repayment Contributions for such
Limitation Year that is applied to the payment of interest on a Share Acquisition Loan shall not be included as an Annual Addition. In no event shall any Financed Shares, any dividends or other earnings thereon, any proceeds of the sale thereof or
any portion of the value of the foregoing be included as an Annual Addition. No catch-up elective deferrals under section 414(v) of the Code shall be included as an Annual Addition. 
 (ii) Employer means CMS Bancorp, Inc., and all members of a controlled group of corporations, as defined in section 414(b)
of the Code, as modified by section 415(h) of the Code, all commonly controlled trades or businesses, as defined in section 414(c) of the Code, as modified by section 415(h) of the Code, all affiliated service groups, as defined in section 414(m) of
the Code, of which CMS Bancorp, Inc. is a member, as well as any leasing organization, as defined in section 18.8, that employs any person who is considered an employee under section 18.8 and any other entity that is required to be aggregated with
the Employer pursuant to regulations under section 414(o) of the Code. 
 (iii) Limitation Year means the Plan
Year. 
 (c) When an individual’s Annual Addition to this Plan must be reduced to satisfy the limitations of section 8.2(a), such
reduction shall be applied to Discretionary Contributions and to Shares allocated as a result of a Loan Repayment Contribution which are included as an Annual Addition in such order as shall result in the smallest reduction in the number of Shares
allocable to the Individual’s Account. The amount by which any Individual’s Annual Addition to this Plan is reduced shall be allocated in accordance with Articles V and VII as a contribution by the Participating Employers in the next
succeeding Limitation Year. 
 (d) Prior to determining an individual’s actual Total Compensation for a Limitation Year, the
Participating Employer may determine the limitations under this section 8.2 for an individual on the basis of a reasonable estimation of the individual’s Total Compensation 

  

 19 

 
for the Limitation Year that is uniformly determined for all individuals who are similarly situated. As soon as it is administratively feasible after the end
of the Limitation Year, the limitations of this section 8.2 shall be determined on the basis of the individual’s actual Total Compensation for the Limitation Year. 
 Article IX 
 Vesting 
 Section 9.1 Vesting. 
 Subject to the provisions of sections 9.2 and 14.1(a), the balance credited to each Participant’s Account shall become vested in accordance with the following schedule: 
  

				
	 Years of Vesting Service
	  	Vested Percentage	 
	 less than 2 years
	  	0	%
	 2 years but less than 3 years
	  	20	%
	 3 years but less than 4 years
	  	40	%
	 4 years but less than 5 years
	  	60	%
	 5 years but less than 6 years
	  	80	%
	 6 or more years
	  	100	%

 Section 9.2 Vesting on Death, Disability, Retirement or Change in Control.

 Any previously unvested portion of the remainder of the balance credited to the Account of a Participant or of a person who is a
Former Participant solely because he is excluded from membership under section 2.1(b) shall become fully vested immediately upon his attainment of age 65 while employed by any Applicable Employer, or, if earlier, upon the termination of his
employment with all Affiliated Employers by reason of death, Disability, Retirement or upon the occurrence of a Change in Control. 
 Section 9.3 Forfeitures on Termination of Employment. 
 Upon the termination of employment of a Participant or
Former Participant for any reason other than death, Disability or Retirement, that portion of the balance credited to his Account which is not vested at the date of such termination shall be forfeited upon the earliest of (a) full distribution
of the vest portion of the Account or (b) the fifth anniversary following the date of re-employment. The proceeds of such forfeited amounts, reduced by any amounts required to be credited because of re-employment pursuant to section 9.4, shall
be treated as Forfeitures and shall be disposed of as provided in section 9.5. If no portion of the balance credited to an Account of a Participant or Former Participant is vested as of the date of his termination of employment, a distribution of
$0, representing full distribution of the Account, shall be deemed to have been made to the Participant or Former Participant on such date. 
  

 20 

 Section 9.4 Amounts Credited Upon Re-Employment. 
 If an Employee forfeited any amount of the balance credited to his Account upon his termination of employment, and is re-employed by any Affiliated
Employer prior to the occurrence of five consecutive One-Year Breaks in Service, then: 
 (i) an amount equal to the Fair
Market Value of the Shares forfeited, determined as of the date of forfeiture; and 
 (ii) the amount credited to his General
Investment Account that was forfeited, determined as of the date of forfeiture; 
 shall be credited back to his Account; provided however, that the Employee
repays the amount distributed to him from his Account as a result of such termination no later than the fifth anniversary of his re-employment or the end of the fifth Plan Year to begin after such distribution, whichever is earlier. Such amounts to
be re-credited shall be obtained from the proceeds of the forfeited amounts redeemed pursuant to section 9.3 during the Plan Year in which the repayment is made, unless such proceeds are insufficient, in which case the Employee’s Employer shall
make an additional contribution in the amount of such deficiency. Form purposes of this section 9.4, a Participant or Former participant who received a distribution of $0, shall be deemed to have made repayment on the date of re-employment with an
Employer. 
 Section 9.5 Allocation of Forfeitures. 
 Any Forfeitures that occur during a Plan Year shall be used to reduce the contributions required of the Employer under the Plan in the next Plan Year and
shall be treated as Loan Repayment Contributions and Discretionary Contributions in the proportions designated by the Committee in accordance with Article V. 
 Article X 
 The Trust Fund 
 Section 10.1 The Trust Fund. 
 The Trust Fund shall be held and invested under the Trust Agreement with the Trustee. The provisions of the Trust Agreement shall vest such powers in the Trustee as to investment, control and disbursement of the Trust Fund, and such other
provisions not inconsistent with the Plan, including provision for the appointment of one or more “investment managers” within the meaning of section 3(38) of ERISA to manage and control (including acquiring and disposing of) all or any of
the assets of the Trust Fund, as the Board may from time to time authorize. Except as required by ERISA, no bond or other security shall be required of any Trustee at any time in office. 
 Section 10.2 Investments. 
 Except to the extent provided to the contrary in section 10.3, the Trust Fund shall be invested in: 
 (i) Shares;

  

 21 

 (ii) such Investment Funds as may be established from time to time by the Committee; and

 (iii) such other investments as may be permitted under the Trust Agreement; 
 in such proportions as shall be determined by the Committee or, if so provided under the Trust Agreement, as directed by one or more investment managers or by the
Trustee, in its discretion; provided, however, that the investments of the Trust Fund shall consist primarily of Shares. Notwithstanding the immediately preceding sentence, the Trustee may temporarily invest the Trust Fund in short-term obligations
of, or guaranteed by, the United States Government or an agency thereof, or may retain uninvested, or sell investments to provide, amounts of cash required for purposes of the Plan. 
 Section 10.3 Distributions for Diversification of Investments. 
 (a) Notwithstanding section 10.2, each Qualified Participant may: 
 (i) during the first 90 days of each of the first five Plan Years to begin after the Plan Year in which he first becomes a Qualified
Participant, elect that such percentage of the balance credited to his Account as he may specify, but in no event more than 25% of the balance credited to his Account, be either distributed to him pursuant to this section 10.3(a)(i) or transferred
to the 401(k) plan maintained by Community Mutual Savings Bank to the extent permitted by such plan, no later than 90 days after the last day that such election may be made; and 
 (ii) during the first 90 days of the sixth Plan Year to begin after the Plan Year in which he first becomes a Qualified Participant or of
any Plan Year thereafter, elect that such percentage of the balance credited to his Account as he may specify, but in no event more than 50% of the balance credited to his Account, be either distributed to him pursuant to this section 10.3(a)(ii) or
transferred to the 401(k) Plan maintained by Community Mutual Savings Bank to the extent permitted by such plan, no later than 90 days after the last day that such election may be made. 
 For purposes of an election under this section 10.3, the balance credited to a Participant’s Account shall be the balance credited to his Account determined as of the last Valuation Date to occur in the Plan Year
immediately preceding the Plan Year in which such election is made and the 25% and 50% limitations shall apply to such balance after the balance has been reduced by the amount of all amounts distributed or transferred to the 401(k) Plan maintained
by Community Mutual Savings Bank under this section 10.3. 
 (b) An election made under section 10.3(a) shall be made in writing, in the form
and manner prescribed by the Plan Administrator, and shall be filed with the Plan Administrator during the election period specified in section 10.3(a). As soon as is practicable, 

  

 22 

 
and in no case later than 90 days following the end of the election period during which such election is made, the Plan Administrator shall take such actions
as are necessary to cause the specified percentage of the balance credited to the Account of the Qualified Participant making the election to be distributed to such Qualified Participant. 
 (c) An election made under section 10.3(a) may be changed or revoked at any time during the election period described in section 10.3(a) during which it
is initially made. In no event, however, shall any election under this section 10.3 result in more than 25% of the balance credited to the Participant’s Account being distributed to the Participant or transferred to the 401(k) Plan maintained
by Community Mutual Savings Bank, if such election is made during a Plan Year to which section 10.3(a)(i) applies, or result in more than 50% of the balance distributed to the Participant or transferred to the 401(k) Plan maintained by Community
Mutual Savings Bank, if such election is made during the Plan Year to which section 10.3(a)(ii) applies or thereafter. 
 Section 10.4 Use of Commingled Trust Funds. 
 Subject to the provisions of the Trust Agreement, amounts held in
the Trust Fund may be invested in: 
 (a) any commingled or group trust fund described in section 401(a) of the Code and exempt under section
501(a) of the Code; or 
 (b) any common trust fund exempt under section 584 of the Code maintained exclusively for the collective investment
of the assets of trusts that are exempt under section 501(a) of the Code; provided that the trustee of such commingled, group or common trust fund is a bank or trust company. 
 Section 10.5 Management and Control of Assets. 
 All assets of the Plan shall be held by the Trustee in trust for the exclusive benefit of Participants, Former Participants and their Beneficiaries. No part of the corpus or income of the Trust Fund shall be used for,
or diverted to, purposes other than for the exclusive benefit of Participants, Former Participants and their Beneficiaries, and for defraying reasonable administrative expenses of the Plan and Trust Fund. No person shall have any interest in or
right to any part of the earnings of the Trust Fund, or any rights in, to or under the Trust Fund or any part of its assets, except to the extent expressly provided in the Plan. 
 Article XI 
 Valuation of Interests in the Trust Fund 
 Section 11.1 Establishment of Investment Accounts. 
 The Plan Administrator shall establish, or cause to be established, for each person for whom an Account is maintained a Share Investment Account and a General Investment Account. Such Share Investment Accounts and
General Investment Accounts shall be maintained in accordance with this Article XI. 
  

 23 

 Section 11.2 Share Investment Accounts. 
 The Share Investment Account established for a person in accordance with section 11.1 shall be credited with: (a) all Shares allocated to such
person’s Account; (b) all Shares purchased with amounts of money or property allocated to such person’s Account; (c) all dividends paid in the form of Shares with respect to Shares credited to his Account; and (d) all Shares
purchased with amounts credited to such person’s General Investment Account. Such Share Investment Account shall be charged with all Shares that are sold or exchanged to acquire other investments or to provide cash and with all Shares that are
distributed in kind. 
 Section 11.3 General Investment Accounts. 
 The General Investment Account that is established for a person in accordance with section 11.1 shall be credited with: (a) all amounts, other than
Shares, allocated to such person’s Account; (b) all dividends paid in a form other than Shares with respect to Shares credited to such person’s Share Investment Account; (c) the proceeds of any sale of Shares credited to such
person’s Share Investment Account; and (d) any earnings attributable to amounts credited to such person’s General Investment Account. Such General Investment Account shall be charged with all amounts credited thereto that are applied
to the purchase of Shares, any losses or depreciation attributable to amounts credited thereto, any expenses allocable thereto and any distributions of amounts credited thereto. 
 Section 11.4 Valuation of Investment Accounts. 
 (a) The Plan Administrator shall determine, or cause to be determined, the aggregate value of each person’s Share Investment Account as of each Valuation Date by multiplying the number of Shares credited to such
Share Investment Account on such Valuation Date by the Fair Market Value of a Share on such Valuation Date. 
 (b) As of each Valuation Date,
the Accounts of each Participant shall be separately adjusted to reflect their proportionate share of any appreciation or depreciation in the fair market value of the Investment Funds, any income earned by the Investment Funds and any expenses
incurred by the Investment Funds, as well as any contributions, withdrawals or distributions and investment transfers not posted as of the last Valuation Date. 
 Section 11.5 Annual Statements. 
 There shall be furnished, by mail or otherwise, at least
once in each Plan Year to each person who would then be entitled to receive all or part of the balance credited to any Account if the Plan were then terminated, a statement of his interest in the Plan as of such date as shall be selected by the Plan
Administrator, which statement shall be deemed to have been accepted as correct and be binding on such person unless the Plan Administrator receives written notice to the contrary within 30 days after the statement is mailed or furnished to such
person. 
  

 24 

 Article XII 
 Shares 
 Section 12.1 Specific Allocation of Shares. 
 All Shares purchased under the Plan shall be specifically allocated to the Share Investment Accounts of Participants, Former Participants and their
Beneficiaries in accordance with section 11.2, with the exception of Financed Shares, which shall be allocated to the Loan Repayment Account. 
 Section 12.2 Dividends. 
 (a) Dividends paid with respect to Shares held under the Plan shall be credited to the
Loan Repayment Account, if paid with respect to Financed Shares. Such dividends shall be: (i) applied to the payment of principal and accrued interest with respect to any Share Acquisition Loan, if paid in cash; or (ii) held in the Loan
Repayment Account as Financed Shares for release in accordance with section 6.4, if paid in the form of Shares. 
 (b) Dividends paid with
respect to Shares allocated to a person’s Share Investment Account shall be credited to such person’s Share Investment Account. Cash dividends credited to a person’s General Investment Account shall be, at the direction of the
Committee, either: (i) held in such General Investment Account and invested in accordance with sections 10.2 and 11.3; (ii) distributed immediately to such person; (iii) distributed to such person within 90 days of the close of the
Plan Year in which such dividends were paid; (iv) used to make payments of principal or interest on a Share Acquisition Loan; provided, however, that the Fair Market Value of Financed Shares released from the Loan Repayment Account as a result
of such payment equals or exceeds the amount of the dividend; or (v) either held as provided in section 12.2(b)(i) or distributed as provided in section 12.2(b)(ii), as each person shall elect for his own Account. 
 Section 12.3 Voting Rights. 
 (a) Each person shall direct the manner in which all voting rights appurtenant to Shares allocated to his Share Investment Account will be exercised, provided that such Shares were allocated to his Share Investment Account as of the
applicable record date. Such person shall, for such purpose, be deemed a “named fiduciary” within the meaning of section 402(a)(2) of ERISA. Such a direction shall be given by completing and filing with the inspector of elections, the
Trustee or such other person who shall be independent of the Participating Employers as the Committee shall designate, at least 10 days prior to the date of the meeting of holders of Shares at which such voting rights will be exercised, a written
direction in the form and manner prescribed by the Committee. The inspector of elections, the Trustee or such other person designated by the Committee shall tabulate the directions given on a strictly confidential basis, and shall provide the
Committee with only the final results of the tabulation. The final results of the tabulation shall be followed by the Committee in directing the Trustee as to the manner in which such voting rights shall be exercised. The Plan Administrator shall
make a reasonable effort to furnish, or cause to be furnished, to each person for whom a Share Investment Account is maintained all annual reports, proxy materials and other information known by the Plan Administrator to have been furnished by the
issuer of the Shares, or by any solicitor of proxies, to the holders of Shares. 
  

 25 

 (b) To the extent that any person shall fail to give instructions with respect to the exercise of voting
rights appurtenant to Shares allocated to his Share Investment Account: 
 (i) the Trustee shall, with respect to each matter
to be voted upon: (A) cast a number of affirmative votes equal to the product of (I) the number of allocated Shares for which no written instructions have been given, multiplied by (II) a fraction, the numerator of which is the number of
allocated Shares for which affirmative votes will be cast in accordance with written instructions given as provided in section 12.3(a) and the denominator of which is the aggregate number of affirmative and negative votes which will be cast in
accordance with written instructions given as aforesaid, and (B) cast a number of negative votes equal to the excess (if any) of (I) the number of allocated Shares for which no written instructions have been given over (II) the number of
affirmative votes being cast with respect to such allocated Shares pursuant to section 12.3(b)(i)(A); or 
 (ii) if the
Trustee shall determine that it may not, consistent with its fiduciary duties, vote the allocated Shares for which no written instructions have been given in the manner described in section 12.3(b)(i), it shall vote such Shares in such manner as it,
in its discretion, may determine to be in the best interests of the persons to whose Share Investment Accounts such Shares have been allocated. 
 (c)(i) The voting rights appurtenant to Financed Shares shall be exercised as follows with respect to each matter as to which holders of Shares may vote: 
 (A) a number of votes equal to the product of (I) the total number of votes appurtenant to Financed Shares allocated to the Loan
Repayment Account on the applicable record date; multiplied by (II) a fraction, the numerator of which is the total number of affirmative votes cast by Participants, Former Participants and the Beneficiaries of deceased Former Participants with
respect to such matter pursuant to section 12.3(a) and the denominator of which is the total number of affirmative and negative votes cast by Participants, Former Participants and the Beneficiaries of deceased Former Participants, shall be cast in
the affirmative; and 
 (B) a number of votes equal to the excess of (I) the total number of votes appurtenant to
Financed Shares allocated to the Loan Repayment Account on the applicable record date, over (II) the number of affirmative votes cast pursuant to section 12.3(c)(i)(A) shall be cast in the negative. 
 To the extent that the Financed Shares consist of more than one class of Shares, this section 12.3(c)(i) shall be applied separately with respect to each class of
Shares. 
 (ii) If voting rights are to be exercised with respect to Financed Shares as provided in section 12.3(c)(i)(A) and
(B) at a time when there are no Shares allocated to the Share Investment Accounts of Participants, Former Participants and the Beneficiaries 

  

 26 

 
of deceased Former Participants, then the voting rights appurtenant to Financed Shares shall be exercised as follows with respect to each matter as to which
holders of Shares may vote: 
 (A) Each person who is a Participant on the applicable record date will be granted a number of
votes equal to the quotient, rounded to the nearest integral number, of (I) such Participant’s Allocation Compensation for the Plan Year ending on or immediately prior to such record date (or for the portion of such Plan Year during which
he was a Participant); divided by (II) $1,000.00; and 
 (B) a number of votes equal to the product of (I) the total
number of Financed Shares allocated to the Loan Repayment Account on the applicable record date; multiplied by (II) a fraction, the numerator of which is the total number of votes that are cast in the affirmative with respect to such matter pursuant
to section 12.3(c)(ii)(A) and the denominator of which is the total number of votes that are cast either in the affirmative or in the negative with respect to such matter pursuant to section 12.3(c)(ii)(A), shall be cast in the affirmative; and

 (C) a number of votes equal to the excess of (I) the total number of Financed Shares allocated to the Loan Repayment
Account on the applicable record date, over (II) the number of affirmative votes cast with respect to such matter pursuant to section 12.3(c)(ii)(B), shall be cast in the negative. 
 To the extent that the Financed Shares consist of more than one class of Shares, this section 12.3(c)(ii) shall be applied separately with respect to each class of Shares. 
 Section 12.4 Tender Offers. 
 (a) Each person shall direct whether Shares allocated to his Share Investment Account will be delivered in response to any Tender Offer. Such person shall, for such purpose, be deemed a “named fiduciary” within the meaning of
section 402(a)(2) of ERISA. Such a direction shall be given by completing and filing with the Trustee or such other person who shall be independent of the Participating Employers as the Committee shall designate, at least 10 days prior to the latest
date for exercising a right to deliver Shares pursuant to such Tender Offer, a written direction in the form and manner prescribed by the Committee. The Trustee or other person designated by the Committee shall tabulate the directions given on a
strictly confidential basis, and shall provide the Committee with only the final results of the tabulation. The final results of the tabulation shall be followed by the Committee in directing the number of Shares to be delivered. The Plan
Administrator shall make a reasonable effort to furnish, or cause to be furnished, to each person for whom a Share Investment Account is maintained, all information known by the Plan Administrator to have been furnished by the issuer or by or on
behalf of any person making such Tender Offer, to the holders of Shares in connection with such Tender Offer. 
  

 27 

 (b) To the extent that any person shall fail to give instructions with respect to Shares allocated to his
Share Investment Account: 
 (i) the Trustee shall (A) tender or otherwise offer for purchase, exchange or redemption a
number of such Shares equal to the product of (I) the number of allocated Shares for which no written instructions have been given, multiplied by (II) a fraction, the numerator of which is the number of allocated Shares tendered or otherwise
offered for purchase, exchange or redemption in accordance with written instructions given as provided in section 12.4(a) and the denominator of which is the aggregate number of allocated Shares for which written instructions have been given as
aforesaid, and (B) withhold a number of Shares equal to the excess (if any) of (I) the number of allocated Shares for which no written instructions have been given over (II) the number of Shares being tendered or otherwise offered pursuant
to section 12.4(b)(i)(A); or 
 (ii) if the Trustee shall determine that it may not, consistent with its fiduciary duties,
exercise the tender or other rights appurtenant to allocated Shares for which no written instructions have been given in the manner described in section 12.4(b)(i), it shall tender, or otherwise offer, or withhold such Shares in such manner as it,
in its discretion, may determine to be in the best interests of the persons to whose Share Investment Accounts such Shares have been allocated. 
 (c) In the case of any Tender Offer, any Financed Shares held in the Loan Repayment Account shall be dealt with as follows: 
 (i) If such Tender Offer occurs at a time when there are no Shares allocated to the Share Investment Accounts of Participants, Former Participants and the Beneficiaries of deceased Former Participants, then the disposition of the Financed
Shares shall be determined as follows: 
 (A) each person who is a Participant on the applicable record date will be granted a
number of tender rights equal to the quotient, rounded to the nearest integral number, of (I) such Participant’s Allocation Compensation for the Plan Year ending on or immediately prior to such record date (or for the portion of such Plan
Year during which he was a Participant), divided by (II) $1,000.00; and 
 (B) on the last day for delivering Shares or
otherwise responding to such Tender Offer, a number of Shares equal to the product of (I) the total number of Financed Shares allocated to the Loan Repayment Account on the last day of the effective period of such Tender Offer; multiplied by
(II) a fraction, the numerator of which is the total number of tender rights exercised in favor of the delivery of Shares in response to the Tender Offer pursuant to section 12.4(c)(i)(A) and the denominator of which is the total number of tender
rights that are exercisable in response to the Tender Offer pursuant to section 12.4(c)(i)(A), shall be delivered in response to the Tender Offer; and 
 (C) a number of Shares equal to the excess of (I) the total number of Financed Shares allocated to the Loan Repayment Account on the last day of the effective period of such Tender Offer; over (II) the number of
Shares to be delivered in response to the Tender Offer pursuant to section 12.4(c)(i)(B), shall be withheld from delivery. 
  

 28 

 (ii) If such Tender Offer occurs at a time when the voting rights appurtenant to such
Financed Shares are to be exercised in accordance with section 12.3(c)(i), then: 
 (A) on the last day for delivering Shares
or otherwise responding to such Tender Offer, a number of Financed Shares equal to the product of (I) the total number of Financed Shares allocated to the Loan Repayment Account on the last day of the effective period of such Tender Offer;
multiplied by (II) a fraction, the numerator of which is the total number of Shares delivered from the Share Investment Accounts of Participants, Former Participants and the Beneficiaries of deceased Former Participants in response to such Tender
Offer pursuant to section 12.4(a), and the denominator of which is the total number of Shares allocated to the Share Investment Accounts of Participants, Former Participants and Beneficiaries of deceased Former Participants immediately prior to the
last day for delivering Shares or otherwise responding to such Tender Offer, shall be delivered; and 
 (B) a number of
Financed Shares equal to the excess of (I) the total number of Financed Shares allocated to the Loan Repayment Account on the last day for delivering Shares or otherwise responding to such Tender Offer; over (II) the number of Financed Shares
to be delivered pursuant to section 12.4(c)(ii)(A), shall be withheld from delivery. 
 To the extent that the Financed Shares consist of more
than one class of Shares, this section 12.4(c) shall be applied separately with respect to each class of Shares. 
 Article XIII

 Payment of Benefits 
 Section 13.1 In General. 
 The balance credited to a Participant’s or Former Participant’s Account
under the Plan shall be paid only at the times, to the extent, in the manner and to the persons provided in this Article XIII. 
 Section 13.2 Designation of Beneficiaries. 
 (a) Subject to section 13.2(b), any person entitled to a benefit
under the Plan may designate a Beneficiary to receive any amount to which he is entitled that remains undistributed on the date of his death. Such person shall designate his Beneficiary (and may change or revoke any such designation) in writing in
the form and manner prescribed by the Plan Administrator. Such designation, and any change or revocation thereof, shall be effective only if received by the Plan Administrator prior to such person’s death and shall become irrevocable upon such
person’s death. 
  

 29 

 (b) A Participant or Former Participant who is married shall automatically be deemed to have designated
his spouse as his Beneficiary, unless, prior to the time such designation would, under section 13.2(a), become irrevocable: 
 (i) the Participant or Former Participant designates an additional or a different Beneficiary in accordance with this section 13.2; and 
 (ii) (A) the spouse of such Participant or Former Participant consents to such designation in a writing that acknowledges the effect of such consent and is witnessed by a Plan representative or a notary public;
or (B) the spouse of such Participant or Former Participant has previously consented to such designation by signing a written waiver of any right to consent to any designation made by the Participant or Former Participant, and such waiver
acknowledged the effect of the waiver and was witnessed by a Plan representative or a notary public; or (C) it is established to the satisfaction of a Plan representative that the consent required under section 13.2(b)(ii)(A) may not be
obtained because such spouse cannot be located or because of other circumstances permitted under regulations issued by the Secretary of the Treasury. 
 (c) In the event that a Beneficiary entitled to payments hereunder shall die after the death of the person who designated him but prior to receiving payment of his entire interest in the Account of the person who
designated him, then such Beneficiary’s interest in the Account of such person, or any unpaid balance thereof, shall be paid as provided in section 13.3 to the Beneficiary who has been designated by the deceased Beneficiary, or if there is
none, to the executor or administrator of the estate of such deceased Beneficiary, or if no such executor or administrator is appointed within such time as the Plan Administrator, in his sole discretion, shall deem reasonable, to such one or more of
the spouse and descendants and blood relatives of such deceased Beneficiary as the Plan Administrator may select. If a person entitled to a benefit under the Plan and any of the Beneficiaries designated by him shall die in such circumstances that
there shall be substantial doubt as to which of them shall have been the first to die, for all purposes of the Plan, the person who made the Beneficiary designation shall be deemed to have survived such Beneficiary. 
 (d) If no Beneficiary survives the person entitled to the benefit under the Plan or if no Beneficiary has been designated by such person, such benefit
shall be paid to the executor or administrator of the estate of such person, or if no such executor or administrator is appointed within such time as the Plan Administrator, in his sole discretion, shall deem reasonable, to such one or more of the
spouse and descendants and blood relatives of such deceased person as the Plan Administrator may select. 
 Section 13.3
Distributions to Participants and Former Participants. 
 (a) Except as provided in section 13.5, the vested portion of the balance
credited to a Former Participant’s Account shall be distributed to him in a single distribution as 

  

 30 

 
of the last Valuation Date to occur in the Plan Year in which he terminates employment with all Affiliated Employers or the Plan Year in which he attains age
65, whichever is later; provided, however, that if the Former Participant elects, at such time and in such manner as the Plan Administrator may prescribe, that distribution be made as of an earlier Valuation Date that coincides with or follows his
termination of employment with all Affiliated Employers, distribution shall be made as of such earlier Valuation Date and if the entire vested balance credited to a Former Participant’s Accounts is not more than $1,000 then the full vested
amount shall be paid as of the earliest practicable Valuation Date following his termination of employment. The actual distribution shall be made within sixty days after the applicable Valuation Date. If an Account of a Participant or Former
Participant does not contain any vested amounts as of the date of his termination of employment with all Affiliated Employers, a distribution of $0, representing a full distribution of the Account, shall be deemed to have been made to the
Participant or Former Participant on such date. 
 (b) In the event of the death of a Participant or Former Participant before the date of
actual distribution of the vested portion of the balance credited to his Account, such vested portion shall be distributed to his Beneficiary in a single distribution as of the first Valuation Date to occur following the latest of (i) the date
on which the Plan Administrator is notified of the Participant’s or Former Participant’s death; and (ii) the date on which the Plan Administrator determines the identity and location of the Participant’s or Former
Participant’s Beneficiary or Beneficiaries. The actual distribution shall be made within sixty days after the applicable Valuation Date. 
 Section 13.4 Manner of Payment. 
 Distributions made pursuant to section 13.3 or section 13.5 shall be made in
the maximum number of whole Shares that are available, plus, if necessary, an amount of money equal to any remaining amount of the distribution that is less than the Fair Market Value of a whole Share. 
 Section 13.5 Minimum Required Distributions. 
 (a) Required minimum distributions of a Participant’s or Former Participant’s Account shall commence no later than: 
 (i) if the Participant or Former Participant was not a Five Percent Owner at any time during the Plan Year ending in the calendar year in
which he attained age 70 1/2, during any of the four preceding Plan Years or during any subsequent years, the
later of (A) the calendar year in which he attains or attained age 70 1/2 or (B) the calendar year in
which he terminates employment with all Affiliated Employers; or 
 (ii) if the Participant or Former
Participant attains age 70 1/2 after December 31, 1998 and is or was a Five Percent Owner at any time during
the Plan Year ending in the calendar year in which he attained age 70 1/2, during any of the four preceding Plan
Years or during any subsequent years, the later of (A) the calendar year in which he attains age 70 1/2 or
(B) the calendar year in which he first becomes a Five Percent Owner. 
  

 31 

 (b) The required minimum distributions contemplated by section 13.5(a) shall be made as follows:

 (i) The minimum required distribution to be made for the calendar year for which the first minimum distribution is required
shall be no later than April 1st of the immediately following calendar year and shall be equal to the quotient obtained by dividing (A) the vested balance credited to the Participant’s or Former Participant’s Account as of the
last Valuation Date to occur in the calendar year immediately preceding the calendar year in which the first minimum distribution is required (adjusted to account for any additions thereto or subtractions therefrom after such Valuation Date but on
or before December 31st of such calendar year); by (B) the Participant’s or Former Participant’s life expectancy (or, if his Beneficiary is a Designated Beneficiary, the joint life and last survivor expectancy of him and his
Beneficiary); and 
 (ii) the minimum required distribution to be made for each calendar year following the calendar year for
which the first minimum distribution is required shall be made no later than December 31st of the calendar year for which the distribution is required and shall be equal to the quotient obtained by dividing (A) the vested balance credited
to the Participant’s or Former Participant’s Account as of the last Valuation Date to occur in the calendar year prior to the calendar year for which the distribution is required (adjusted to account for any additions thereto or
subtractions therefrom after such Valuation Date but on or before December 31st of such calendar year and, in the case of the distribution for the calendar year immediately following the calendar year for which the first minimum distribution is
required, reduced by any distribution for the prior calendar year that is made in the current calendar year); by (B) the Participant’s or Former Participant’s life expectancy (or, if his Beneficiary is a Designated Beneficiary, the
joint life and last survivor expectancy of him and his Beneficiary). 
 (c) For purposes of section 13.5(b) during the Participant’s or
Former Participant’s lifetime, life expectancy shall be equal to: 
 (i) the distribution period in the Uniform Lifetime
Table set forth in section 1.401(a)(9)-9 of the Treasury regulations, using the Participant’s age as of the Participant’s birthday in such calendar year; or 
 (ii) if the Participant’s spouse is the sole Designated Beneficiary and the spouse is more than ten years younger than the
Participant, the number in the Joint and Last Survivor Table set forth in section 1.401(a)(9)-9 of the Treasury regulations, using the Participant’s and spouse’s attained ages as of the Participant’s and spouse’s birthdays in
such calendar year. 
  

 32 

 (d) Payment of the distributions required to be made to a Participant or Former Participant under this
section 13.5 shall be made in accordance with section 13.4. 
 Section 13.6 Direct Rollover of Eligible Rollover Distributions.

 (a) A Distributee may elect, at the time and in the manner prescribed by the Plan Administrator, to have any portion of an Eligible
Rollover Distribution paid directly to an Eligible Retirement Plan specified by the Distributee in a Direct Rollover. 
 (b) The following
rules shall apply with respect to Direct Rollovers made pursuant to this section 13.6: 
 (i) A Distributee may only elect to
make a Direct Rollover of an Eligible Rollover Distribution if such Eligible Rollover Distribution (when combined with other Eligible Rollover Distributions made or to be made in the same calendar year) is reasonably expected to be at least $200;

 (ii) If a Distributee elects a Direct Rollover of a portion of an Eligible Rollover Distribution, that portion must be
equal to at least $500; and 
 (iii) A Distributee may not divide his or her Eligible Rollover Distribution into separate
distributions to be transferred to two or more Eligible Retirement Plans. 
 (c) For purposes of this section 13.6 and any other applicable
section of the Plan, the following definitions shall have the following meanings: 
 (i) Direct Rollover means a
payment by the Plan to the Eligible Retirement Plan specified by the Distributee. 
 (ii) Distributee means an
Employee or former Employee. In addition, the Employee’s or former Employee’s surviving spouse and the Employee’s spouse or former spouse who is the alternate payee under a Qualified Domestic Relations Order are considered
Distributees with regard to the interest of the spouse or former spouse. 
 (iii) Eligible Retirement Plan means
an individual retirement account described in section 408(a) of the Code, an individual retirement annuity described in section 408(b) or the Code, an annuity plan described in section 403(a) of the Code, a qualified trust described in section
401(a) of the Code an annuity contract described in section 403(b) of the Code or an eligible deferred compensation plan under section 457(b) of the Code which is maintained by a state, political subdivision of a state, or an agency or
instrumentality of a state or political subdivision thereof and which agrees to separately account for amounts transferred into such plan from this Plan, that accepts the Distributee’s Eligible Rollover Distribution. 
  

 33 

 (iv) Eligible Rollover Distribution means any distribution of all or any
portion of the balance to the credit of the Distributee, except that an Eligible Rollover Distribution does not include: any distribution that is one of a series of substantially equal periodic payments (not less frequently than annually) made for
the life (or life expectancy) of the Distributee or the joint lives (or joint life expectancies) of the Distributee’s designated Beneficiary, or for a specified period of ten (10) years or more; any distribution to the extent such
distribution is required under section 401(a)(9) of the Code; and any distribution made on account of hardship. A portion of a distribution that is includible in the gross income of the Distributee that is treated as an Eligible Rollover
Distribution may only be transferred in a direct rollover to an Eligible Retirement Plan that agrees to separately account for such portion of the distribution. This section 13.6 shall not apply to any Eligible Rollover Distributions during the year
that are reasonably expected (as determined by the Committee) to total less than $200. In no even shall any withdrawal during service that is made on account of hardship be considered an Eligible Rollover Distribution. This section 13.6 shall be
interpreted to comply with the provisions of section 401(a)(31) of the Code. 
 Section 13.7 Valuation of Shares Upon
Distribution. 
 Notwithstanding any contrary provision in this Article XIII, in the event that all or a portion of a payment of a
distribution is to be made in cash, the recipient shall only be entitled to receive the proceeds of the Shares allocated to his Account that are sold in connection with such distribution and which are valued as of the date of such sale. 

Section 13.8 Put Options. 
 (a) Subject to section 13.8(c) and except as provided otherwise in section 13.8(b), each Participant or Former Participant to whom Shares are distributed under the Plan, each Beneficiary of a deceased Participant or Former Participant,
including the estate of a deceased Participant or Former Participant, to whom Shares are distributed under the Plan, and each person to whom such a Participant, Former Participant or Beneficiary gives Shares that have been distributed under the Plan
shall have the right to require CMS Bancorp, Inc. to purchase from him all or any portion of such Shares. A person shall exercise such right by delivering to CMS Bancorp, Inc. a written notice, in such form and manner as CMS Bancorp, Inc. may by
written notice to such person prescribe, setting forth the number of Shares to be purchased by CMS Bancorp, Inc., the number of the stock certificate evidencing such person’s ownership of such Shares, and the effective date of the purchase.
Such notice shall be given at least 30 days in advance of the effective date of purchase, and the effective date of purchase specified therein shall be, either within the 60 day period that begins on the date on which the Shares to be purchased by
CMS Bancorp, Inc. were distributed from the Plan or within the 60 day period that begins on the first day of the Plan Year immediately following the Plan Year in which the Shares to be purchased by CMS Bancorp, Inc. are distributed from the Plan. As
soon as practicable following its receipt of such a notice, CMS Bancorp, Inc. shall take such actions as are necessary to purchase the Shares specified in such notice at a price per Share equal to the Fair Market Value of a Share determined as of
the Valuation Date coincident with or immediately preceding the effective date of the purchase. 
  

 34 

 (b) CMS Bancorp, Inc. shall have no obligation to purchase any Share (i) pursuant to a notice that
is not timely given, or on an effective date of purchase that is not within the periods prescribed in section 13.8(a), or (ii) during a period in which Shares are publicly traded on an established market. 
 Section 13.9 Right of First Refusal. 
 (a) For any period during which Shares are not publicly traded on an established market, no person who owns Shares that were distributed from the Plan, other than a person to whom such Shares were sold in compliance
with this section 13.9, shall sell such Shares to any person other than CMS Bancorp, Inc. without first offering to sell such Shares to CMS Bancorp, Inc. in accordance with this section 13.9. 
 (b) In the event that a person to whom this section 13.9 applies shall receive and desire to accept from a person other than CMS Bancorp, Inc. an offer
to purchase Shares to which this section 13.9 applies, he shall furnish to CMS Bancorp, Inc. a written notice which shall: 
 (i) include a copy of such offer to purchase; 
 (ii) offer to sell to CMS Bancorp, Inc. the Shares subject to such
offer to purchase at a price per Share that is equal to the greater of: 
 (A) the price per Share specified in such offer to
purchase; or 
 (B) the Fair Market Value of a Share as of the Valuation Date coincident with or immediately preceding the
date of such notice; 
 and otherwise upon the same terms and conditions as those specified in such offer to purchase; and 
 (iii) include an indication of his intention to accept such offer to purchase if CMS Bancorp, Inc. does not accept his offer to sell.

 Such person shall refrain from accepting such offer to purchase for a period of fourteen days following the date on which such notice is given.

 (c) CMS Bancorp, Inc. shall have the right to purchase the Shares covered by the offer to sell contained in a notice given pursuant to
section 13.9(b), on the terms and conditions specified in such notice, by written notice given to the party making the offer to sell not later than the fourteenth day after the notice described in section 13.9(b) is given. If CMS Bancorp, Inc. does
not give such a notice during the prescribed fourteen day period, then the person owning such Shares may accept the offer to purchase described in the notice. 
 (d) This section 13.9 shall not apply so long as the Company is prohibited by law from redeeming or purchasing its own securities. 
  

 35 

 Article XIV 
 Change in Control 
 Section 14.1 Definition of Change in Control; Pending Change in
Control. 
 (a) A Change in Control shall be deemed to have occurred upon the happening of any of the following events: 
 (i) any event upon which any “person” (as such term is used in sections 13(d) and 14(d) of the Securities Exchange Act of 1934,
as amended), other than (A) a trustee or other fiduciary holding securities under any employee benefit plan maintained for the benefit of employees of CMS Bancorp, Inc.; (B) a corporation owned, directly or indirectly, by the stockholders
of CMS Bancorp, Inc. in substantially the same proportions as their ownership of stock of CMS Bancorp, Inc.; or (C) any group constituting a person in which employees of CMS Bancorp, Inc. are substantial members, becomes the “beneficial
owner” (as defined in Rule 13d-3 promulgated under the Exchange Act), directly or indirectly, of securities issued by CMS Bancorp, Inc. representing 25% or more of the combined voting power of all of CMS Bancorp, Inc.’s then outstanding
securities; or 
 (ii) any event upon which the individuals who on the Effective Date were members of the Board of Directors
of CMS Bancorp, Inc. together with individuals whose election by such Board or nomination for election by CMS Bancorp, Inc.’s stockholders was approved by the affirmative vote of at least two-thirds of the members of such Board then in office
who were either members of such Board on the Effective Date or whose nomination or election was previously so approved, cease for any reason to constitute a majority of the members of such Board, but excluding, for this purpose, any such individual
whose initial assumption of office is in connection with an actual or threatened election contest relating to the election of directors of CMS Bancorp, Inc.; or 
 (iii) the consummation of either: 
 (A) a merger or consolidation of CMS Bancorp, Inc. with any other corporation, other than a merger or consolidation following which both of the following conditions are satisfied: 
 (I) either (1) the members of the Board of Directors of CMS Bancorp, Inc. immediately prior to such merger or consolidation
constitute at least a majority of the members of the governing body of the institution resulting from such merger or consolidation; or (2) the shareholders of CMS Bancorp, Inc. own securities of the institution resulting from such merger or
consolidation representing 60% or more of the combined voting power of all such securities then outstanding in substantially the same proportions as their ownership of voting securities of CMS Bancorp, Inc. before such merger or consolidation; and

  

 36 

 (II) the entity which results from such merger or consolidation expressly agrees in
writing to assume and perform CMS Bancorp, Inc.’s obligations under the Plan; or 
 (B) a complete liquidation of CMS
Bancorp, Inc. or an agreement for the sale or disposition by CMS Bancorp, Inc. of all or substantially all of its assets; or 
 (iv) any event that would be described in section 16.1 if “Community Mutual Savings Bank” were substituted for “CMS Bancorp, Inc.” therein. 
 In no event, however, shall the transaction by which Community Mutual Savings Bank converts from a mutual institution to a stock institution, any transaction by which a company wholly owned by Community Mutual Savings
Bank or CMS Bancorp, Inc. becomes the parent company of Community Mutual Savings Bank or any purchase of CMS Bancorp, Inc.’s securities by an employee benefit plan maintained by CMS Bancorp, Inc. or Community Mutual Savings Bank, be deemed a
Change in Control. 
 (b) A Pending Change of Control shall be deemed to have occurred upon the happening of any of the following events:

 (i) approval by the stockholders of CMS Bancorp, Inc. of a transaction, or a plan for the consummation of a transaction,
which, if consummated, would result in a Change in Control; 
 (ii) approval by the Board of Directors of CMS Bancorp, Inc. of
a transaction, or a plan for the consummation of a transaction, which, if consummated, would result in a Change in Control; 
 (iii) the commencement of a tender offer (within the meaning of section 14(d)(i) of the Exchange Act, as amended) for securities issued by CMS Bancorp, Inc., which, if completed, would result in a Change in Control; 
 (iv) the furnishing or distribution of a proxy statement or other document, whether or not in opposition to management, soliciting
proxies, consents or authorizations (within the meaning of section 14 of the Exchange Act) in respect of securities issued by CMS Bancorp, Inc. in favor of any election, transaction or other action which, if effected, would result in a Change in
Control; or 
 (v) any event which would be described in Sections 14.1(b)(i), (ii), (iii) or (iv) if “Community
Mutual Savings Bank” were substituted for “CMS Bancorp, Inc.” therein. 
  

 37 

 Section 14.2 Vesting on Change of Control. 
 Notwithstanding any other provision of the Plan, upon the effective date of a Change in Control, the Account of each person who would then, upon
termination of the Plan, be entitled to a benefit, shall be fully vested and nonforfeitable. 
 Section 14.3 Repayment of Share
Acquisition Loan. 
 Notwithstanding any other provision of the Plan, upon the occurrence of a Change in Control, the Committee shall
direct the Trustee to sell a sufficient number of shares of Stock to repay any outstanding Share Acquisition Loan, all remaining Shares which had been unallocated (or the proceeds from the sale thereof, if applicable) shall be allocated among the
accounts of all individuals with undistributed Account balances on the effective date of such Change in Control who are employed by the Company or Bank on the effective date of such Change of Control. Such allocation of Shares or proceeds shall be
in proportion to the balance credited to their Accounts immediately prior to such allocation. 
 Section 14.4 Plan Termination
After Change in Control. 
 Notwithstanding any other provision of the Plan, after repayment of the loan and allocation of Shares or
proceeds as provided in Section 14.3, the Plan shall be terminated and all amounts shall be distributed as soon as practicable. 
 Section 14.5 Amendment of Section XIV. 
 Notwithstanding any other provision of the Plan, this Section 14 of
the Plan may not be amended after the earliest date on which a Change in Control or Pending Change in Control occurs, except (i) to the extent any amendment is required by the Internal Revenue Service as a condition to the continued treatment
of the Plan as a tax-qualified plan under section 401(a) of the Code or (ii) to the extent that the Company, in its sole discretion, determines than any such amendment is necessary in order to permit any transaction to which the Company, and/or
its parent or affiliate, is or proposes to be a party to qualify for “pooling of interests” accounting treatment. 
 Article XV

 Administration 
 Section 15.1 Named Fiduciaries. 
 The term “Named Fiduciary” shall mean (but only to the extent of the
responsibilities of each of them) the Plan Administrator, the Committee, the Board and the Trustee. This Article XV is intended to allocate to each Named Fiduciary the responsibility for the prudent execution of the functions assigned to him or it,
and none of such responsibilities or any other responsibility shall be shared by two or more of such Named Fiduciaries. Whenever one Named Fiduciary is required by the Plan or Trust Agreement to follow the directions of another Named Fiduciary, the
two Named Fiduciaries shall not be deemed to have been assigned a shared responsibility, but the responsibility of the Named Fiduciary giving the directions shall 

  

 38 

 
be deemed his sole responsibility, and the responsibility of the Named Fiduciary receiving those directions shall be to follow them insofar as such
instructions are on their face proper under applicable law. 
 Section 15.2 Plan Administrator. 
 There shall be a Plan Administrator, who shall be the Director of Human Resources of Community Mutual Savings Bank, or such Employee or officer as may be
designated by the Committee, as hereinafter provided, and who shall, subject to the responsibilities of the Committee and the Board, have the responsibility for the day-to-day control, management, operation and administration of the Plan (except
trust duties). The Plan Administrator shall have the following responsibilities: 
 (a) To maintain records necessary or appropriate for the
administration of the Plan; 
 (b) To give and receive such instructions, notices, information, materials, reports and
certifications to the Trustee as may be necessary or appropriate in the administration of the Plan; 
 (c) To prescribe forms
and make rules and regulations consistent with the terms of the Plan and with the interpretations and other actions of the Committee; 
 (d) To require such proof of age or evidence of good health of an Employee, Participant or Former Participant or the spouse of either, or of a Beneficiary as may be necessary or appropriate in the administration of
the Plan; 
 (e) To prepare and file, distribute or furnish all reports, plan descriptions, and other information concerning
the Plan, including, without limitation, filings with the Secretary of Labor and communications with Participants, Former Participants and other persons, as shall be required of the Plan Administrator under ERISA; 
 (f) To determine any question arising in connection with the Plan, and the Plan Administrator’s decision or action in respect thereof
shall be final and conclusive and binding upon the Employer, the Trustee, Participants, Former Participants, Beneficiaries and any other person having an interest under the Plan; provided, however, that any question relating to inconsistency or
omission in the Plan, or interpretation of the provisions of the Plan, shall be referred to the Committee by the Plan Administrator and the decision of the Committee in respect thereof shall be final; 
 (g) Subject to the provisions of section 15.5, to review and dispose of claims under the Plan filed pursuant to section 15.4; 

(h) If the Plan Administrator shall determine that by reason of illness, senility, insanity, or for any other reason, it is undesirable
to make any payment to 

  

 39 

 
a Participant, Former Participant, Beneficiary or any other person entitled thereto, to direct the application of any amount so payable to the use or benefit
of such person in any manner that he may deem advisable or to direct in his discretion the withholding of any payment under the Plan due to any person under legal disability until a representative competent to receive such payment in his behalf
shall be appointed pursuant to law; 
 (i) To discharge such other responsibilities or follow such directions as may be
assigned or given by the Committee or the Board; and 
 (j) To perform any duty or take any action which is allocated to the
Plan Administrator under the Plan. 
 The Plan Administrator shall have the power and authority necessary or appropriate to
carry out his responsibilities. The Plan Administrator may resign only by giving at least 30 days’ prior written notice of resignation to the Committee, and such resignation shall be effective on the date specified in such notice. 

Section 15.3 Committee Responsibilities. 
 The Committee shall, subject to the responsibilities of the Board, have the following responsibilities: 
 (a) To review the performance of the Plan Administrator; 
 (b) To hear and decide appeals,
pursuant to the claims procedure contained in section 15.5 of the Plan, taken from the decisions of the Plan Administrator; 
 (c) To hear and decide questions, including interpretation of the Plan, as may be referred to the Committee by the Plan Administrator; 
 (d) To review the performance of the Trustee and such investment managers as may be appointed in or pursuant to the Trust Agreement in investing, managing and controlling the assets of the Plan; 
 (e) To the extent required by ERISA, to establish a funding policy and method consistent with the objectives of the Plan and the
requirements of ERISA, and to review such policy and method at least annually; 
 (f) To report and make recommendations to
the Board regarding changes in the Plan, including changes in the operation and management of the Plan and removal and replacement of the Trustee and such investment managers as may be appointed in or pursuant to the Trust Agreement; 
 (g) To designate an Alternate Plan Administrator to serve in the event that the Plan Administrator is absent or otherwise unable to
discharge his responsibilities; 
  

 40 

 (h) To remove and replace the Plan Administrator or Alternate, or both of them, and to
fill a vacancy in either office; 
 (i) To the extent provided under and subject to the provisions of the Trust Agreement, to
appoint “investment managers” as defined in section 3(38) of ERISA to manage and control (including acquiring and disposing of) all or any of the assets of the Plan; 
 (j) With the prior approval of the Board, to direct the Trustee to obtain one or more Share Acquisition Loans; 
 (k) To develop and provide procedures and forms necessary to facilitate voting and tendering directions on a confidential basis;

 (l) To discharge such other responsibilities or follow such directions as may be assigned or given by the Board; and

 (m) To perform any duty or take any action which is allocated to the Committee under the Plan. 
 The Committee shall have the power and authority necessary or appropriate to carry out its responsibilities. 
 Section 15.4 Claims Procedure. 
 Any claim relating to benefits under the Plan shall be filed with the Plan Administrator on a form prescribed by him. If a claim is denied in whole or in part, the Plan Administrator shall give the claimant written notice of such denial,
which notice shall specifically set forth: 
 (a) The reasons for the denial; 
 (b) The pertinent Plan provisions on which the denial was based; 
 (c) Any additional material or information necessary for the claimant to perfect his claim and an explanation of why such material or
information is needed; and 
 (d) An explanation of the Plan’s procedure for review of the denial of the claim.

 In the event that the claim is not granted and notice of denial of a claim is not furnished by the 30th day after such claim was filed, the claim shall be
deemed to have been denied on that day for the purpose of permitting the claimant to request review of the claim. 
 Section 15.5
Claims Review Procedure. 
 Any person whose claim filed pursuant to section 15.4 has been denied in whole or in part by the Plan
Administrator may request review of the claim by the Committee, upon a 

  

 41 

 
form prescribed by the Plan Administrator. The claimant shall file such form (including a statement of his position) with the Committee no later than 60 days
after the mailing or delivery of the written notice of denial provided for in section 15.4, or, if such notice is not provided, within 60 days after such claim is deemed denied pursuant to section 15.4. The claimant shall be permitted to review
pertinent documents. A decision shall be rendered by the Committee and communicated to the claimant not later than 30 days after receipt of the claimant’s written request for review. However, if the Committee finds it necessary, due to special
circumstances (for example, the need to hold a hearing), to extend this period and so notifies the claimant in writing, the decision shall be rendered as soon as practicable, but in no event later than 120 days after the claimant’s request for
review. The Committee’s decision shall be in writing and shall specifically set forth: 
 (a) The reasons for the
decision; and 
 (b) The pertinent Plan provisions on which the decision is based. 
 Any such decision of the Committee shall be binding upon the claimant and the Employer, and the Plan Administrator shall take appropriate action to carry out such
decision. 
 Section 15.6 Allocation of Fiduciary Responsibilities and Employment of Advisors. 
 Any Named Fiduciary may: 
 (a)
Allocate any of his or its responsibilities (other than trustee responsibilities) under the Plan to such other person or persons as he or it may designate, provided that such allocation and designation shall be in writing and filed with the Plan
Administrator; 
 (b) Employ one or more persons to render advice to him or it with regard to any of his or its
responsibilities under the Plan; and 
 (c) Consult with counsel, who may be counsel to the Employer. 
 Section 15.7 Other Administrative Provisions. 
 (a) Any person whose claim has been denied in whole or in part must exhaust the administrative review procedures provided in section 15.5 prior to initiating any claim for judicial review. 
 (b) No bond or other security shall be required of a member of the Committee, the Plan Administrator, or any officer or Employee of the Employer to whom
fiduciary responsibilities are allocated by a Named Fiduciary, except as may be required by ERISA. 
 (c) Subject to any limitation on the
application of this section 15.7(c) pursuant to ERISA, neither the Plan Administrator, nor a member of the Committee, nor any officer or Employee of the Employer to whom fiduciary responsibilities are allocated by a Named Fiduciary, shall be liable
for any act of omission or commission by himself or by another person, except for his own individual willful and intentional malfeasance. 
  

 42 

 (d) The Plan Administrator or the Committee may, except with respect to actions under section 15.5,
shorten, extend or waive the time (but not beyond 60 days) required by the Plan for filing any notice or other form with the Plan Administrator or the Committee, or taking any other action under the Plan. 
 (e) The Plan Administrator or the Committee may direct that the costs of services provided pursuant to section 15.6, and such other reasonable expenses
as may be incurred in the administration of the Plan, shall be paid out of the funds of the Plan unless the Employer shall pay them. 
 (f)
Any person, group of persons, committee, corporation or organization may serve in more than one fiduciary capacity with respect to the Plan. 
 (g) Any action taken or omitted by any fiduciary with respect to the Plan, including any decision, interpretation, claim denial or review on appeal, shall be conclusive and binding on all interested parties and shall be subject to judicial
modification or reversal only to the extent it is determined by a court of competent jurisdiction that such action or omission was arbitrary and capricious and contrary to the terms of the Plan. 
 Article XVI 
 Amendment, Termination
and Tax Qualification 
 Section 16.1 Amendment and Termination by CMS Bancorp, Inc. 
 The Participating Employers expect to continue the Plan indefinitely, but specifically reserve the right, in their sole discretion, at any time, by
appropriate action of their respective boards of directors or other authorized officials, to amend, in whole or in part, any or all of the provisions of the Plan and to terminate the Plan at any time. Subject to the provisions of section 16.2, no
such amendment or termination shall permit any part of the Trust Fund to be used for or diverted to purposes other than for the exclusive benefit of Participants, Former Participants, Beneficiaries or other persons entitled to benefits, and no such
amendment or termination shall reduce the accrued benefit of any Participant, Former Participant, Beneficiary or other person who may be entitled to benefits, without his consent. In the event of a termination or partial termination of the Plan, or
in the event of a complete discontinuance of the Participating Employer’s contributions to the Plan, the Accounts of each affected person shall forthwith become nonforfeitable and shall be payable in accordance with the provisions of Article
XIII. 
 Section 16.2 Amendment or Termination Other Than by CMS Bancorp, Inc. 
 In the event that a corporation or trade or business other than CMS Bancorp, Inc. shall adopt this Plan, such corporation or trade or business shall, by
adopting the Plan, empower CMS Bancorp, Inc., to amend or terminate the Plan, insofar as it shall cover employees of such corporation or trade or business, upon the terms and conditions set forth in section 16.1; 

  

 43 

 
provided, however, that any such corporation or trade or business may, by action of its board of directors or other governing body, amend or terminate the
Plan, insofar as it shall cover employees of such corporation or trade or business, at different times and in a different manner. In the event of any such amendment or termination by action of the board of directors or other governing body of such a
corporation or trade or business, a separate plan shall be deemed to have been established for the employees of such corporation or trade or business, and the assets of such plan shall be segregated from the assets of this Plan at the earliest
practicable date and shall be dealt with in accordance with the documents governing such separate plan. 
 Section 16.3 Conformity
to Internal Revenue Code. 
 The Participating Employers have established the Plan with the intent that the Plan and Trust will at all
times be qualified under section 401(a) and exempt under section 501(a) of the Code and with the intent that contributions under the Plan will be allowed as deductions in computing the net income of the Participating Employers for federal income tax
purposes, and the provisions of the Plan and Trust Agreement shall be construed to effectuate such intentions. Accordingly, notwithstanding anything to the contrary hereinbefore provided, the Plan and the Trust Agreement may be amended at any time
without prior notice to Participants, Former Participants, Beneficiaries or any other persons entitled to benefits, if such amendment is deemed by the Board to be necessary or appropriate to effectuate such intent. 
 Section 16.4 Contingent Nature of Contributions. 
 (a) All Discretionary Contributions to the Plan are conditioned upon the issuance by the Internal Revenue Service of a determination that the Plan and Trust are qualified under section 401(a) of the Code and exempt
under section 501(a) of the Code. If the Participating Employers apply to the Internal Revenue Service for such a determination within 90 days after the date on which it files its federal income tax return for its taxable year that includes the last
day of the Plan Year in which the Plan is adopted, and if the Internal Revenue Service issues a determination that the Plan and Trust are not so qualified or exempt, all Discretionary Contributions made by the Participating Employers prior to the
date of receipt of such a determination may, at the election of the Participating Employers, be returned to the Participating Employers within one year after the date of such determination. 
 (b) All Discretionary Contributions and Loan Repayment Contributions to the Plan are made upon the condition that such Discretionary Contributions and
Loan Repayment Contributions will be allowed as a deduction in computing the net income of the Employer for federal income tax purposes. To the extent that any such deduction is disallowed, the amount disallowed may, at the election of the
Participating Employers, be returned to the Participating Employers within one year after the deduction is disallowed. 
 (c) Any
contribution to the Plan made by the Participating Employers as a result of a mistake of fact may, at the election of the Participating Employers, be returned to the Participating Employers within one year after such contribution is made.

  

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 Article XVII 
 Special Rules for Top Heavy Plan Years 
 Section 17.1 In General. 
 As of the Determination Date for each Plan Year, the Plan Administrator shall determine whether the Plan is a Top Heavy Plan in accordance with the
provisions of this Article XVII. If, as of such Determination Date, the Plan is a Top Heavy Plan, then the Plan Year immediately following such Determination Date shall be a Top Heavy Plan Year and the special provisions of this Article XVII shall
be in effect; provided, however, that if, as of the Determination Date for the Plan Year in which the Effective Date occurs, the Plan is a Top Heavy Plan, such Plan Year shall be a Top Heavy Plan Year, and the provisions of this Article XVII shall
be given retroactive effect for such Plan Year. 
 Section 17.2 Definition of Top Heavy Plan. 
 (a) Subject to section 17.2(c), the Plan is a Top Heavy Plan if, as of a Determination Date: (i) it is not a member of a Required Aggregation Group,
and (ii)(A) the sum of the Cumulative Accrued Benefits of all Key Employees exceeds 60% of (B) the sum of the Cumulative Accrued Benefits of all Employees (excluding former Key Employees), former Employees (excluding former Key Employees and
other former Employees who have not performed any services for the Employer or any Affiliated Employer during the immediately preceding Plan Year), and their Beneficiaries. 
 (b) Subject to section 17.2(c), the Plan is a Top Heavy Plan if, as of a Determination Date: (i) the Plan is a member of a Required Aggregation
Group, and (ii)(A) the sum of the Cumulative Accrued Benefits of all Key Employees under all plans that are members of the Required Aggregation Group exceeds 60% of (B) the sum of the Cumulative Accrued Benefits of all Employees (excluding
former Key Employees), former Employees (excluding former Key Employees and other former Employees who have not performed any services for the Employer or any Affiliated Employer during the immediately preceding Plan Year), and their Beneficiaries
under all plans that are members of the Required Aggregation Group. 
 (c) Notwithstanding sections 17.2(a) and 17.2(b), the Plan is not a
Top Heavy Plan if, as of a Determination Date: (i) the Plan is a member of a Permissible Aggregation Group, and (ii)(A) the sum of the Cumulative Accrued Benefits of all Key Employees under all plans that are members of the Permissible
Aggregation Group does not exceed 60% of (B) the sum of the Cumulative Accrued Benefits of all Employees (excluding former Key Employees), former Employees (excluding former Key Employees and other former Employees who have not performed any
services for the Employer or any Affiliated Employer during the immediately preceding Plan Year), and their Beneficiaries under all plans that are members of the Permissible Aggregation Group. 
 Section 17.3 Determination Date. 
 The Determination Date for the Plan Year in which the Effective Date occurs shall be the last day of such Plan Year, and the Determination Date for each Plan Year beginning 

  

 45 

 
after the Plan Year in which the Effective Date occurs shall be the last day of the preceding Plan Year. The Determination Date for any other qualified plan
maintained by the Employer for a plan year shall be the last day of the preceding plan year of each such plan, except that in the case of the first plan year of such plan, it shall be the last day of such first plan year. 
 Section 17.4 Cumulative Accrued Benefits. 
 (a) An individual’s Cumulative Accrued Benefits under this Plan as of a Determination Date are equal to the sum of: 
 (i) the balance credited to such individual’s Account under this Plan as of the most recent Valuation Date preceding the Determination Date; 
 (ii) the amount of any Discretionary Contributions or Loan Repayment Contributions made after such Valuation Date but on or before the
Determination Date; and 
 (iii) the amount of any distributions of such individual’s Cumulative Accrued Benefits under
the Plan (including distributions under terminated plans that would have been included in the Required Aggregation Group if not terminated) during the five-year period (for in-service distributions) or one-year period (for all distributions other
than in-service distributions) ending on the Determination Date. 
 For purposes of this section 17.4(a), the computation of an individual’s Cumulative
Accrued Benefits, and the extent to which distributions, rollovers and transfers are taken into account, will be made in accordance with section 416 of the Code and the regulations thereunder. 
 (b) For purposes of this Plan, the term “Cumulative Accrued Benefits” with respect to any other qualified plan, shall mean the cumulative
accrued benefits determined for purposes of section 416 of the Code under the provisions of such plans. 
 (c) For purposes of determining
the top heavy status of a Required Aggregation Group or a Permissible Aggregation Group, the Cumulative Accrued Benefits under this Plan and the Cumulative Accrued Benefits under any other plan shall be determined as of the Determination Date that
falls within the same calendar year as the Determination Dates for all other members of such Required Aggregation Group or Permissible Aggregation Group. 
 Section 17.5 Key Employees. 
 (a) For purposes of the Plan, the term Key Employee means
any employee or former employee of the Employer or any Affiliated Employer who is at any time during the current Plan Year: 
 (i) a Five Percent Owner; 
 (ii) a person who would be described in section 1.25 if the number “1%” were
substituted for the number “5%” in section 1.25 and who has an annual Total Compensation from the Employer and any Affiliated Employer of more than $150,000; or 
  

 46 

 (iii) an Officer of the Employer or any Affiliated Employer who has an annual Total
Compensation greater than $145,000 (or any greater amount as specified in section 416(i)(1)(A)(i) of the Code) for the Plan Year. 
 (b) For
purposes of section 17.5(a): 
 (i) for purposes of section 17.5(a)(iii), in the event the Employer or any Affiliated Employer
has more officers than are considered Officers, the term Key Employee shall mean those officers, up to the maximum number, with the highest annual compensation in any one of the five consecutive Plan Years ending on the Determination Date; and

 (ii) for purposes of section 17.5(a)(ii), if two or more persons have equal ownership interests in the Employer, each such
person shall be considered as having a larger ownership interest than any such person with a lower annual compensation from the Employer or any Affiliated Employer. 
 (c) For purposes of section 17.5(a): (i) a person’s compensation from Affiliated Employers shall be aggregated, but his ownership interests in Affiliated Employers shall not be aggregated; (ii) an
employee shall only be deemed to be an officer if he has the power and responsibility of a person who is an officer within the meaning of section 416 of the Code; and (iii) the term Key Employee shall also include the Beneficiary of a deceased
Key Employee. 
 Section 17.6 Required Aggregation Group. 
 For purposes of this Article XVII, a Required Aggregation Group shall consist of (a) this Plan; (b) any other qualified plans currently
maintained (or previously maintained and terminated within the five year period ending on the Determination Date) by the Employer and any Affiliated Employers that cover Key Employees; and (c) any other qualified plans currently maintained (or
previously maintained and terminated within the five year period ending on the Determination Date) by the Employer or any Affiliated Employers that cover Key Employees that are required to be aggregated for purposes of satisfying the requirements of
sections 401(a)(4) or 410(b) of the Code. 
 Section 17.7 Permissible Aggregation Group. 
 For purposes of this Article XVII, a Permissible Aggregation Group shall consist of (a) the Required Aggregation Group and (b) any other
qualified plans maintained by the Employer and any Affiliated Employers; provided, however, that the Permissible Aggregation Group must satisfy the requirements of sections 401(a)(4) and 410(b) of the Code. 
 Section 17.8 Special Requirements During Top Heavy Plan Years. 
 Notwithstanding any other provision of the Plan to the contrary, for each Top Heavy Plan Year, in the case of a Participant (other than a Key Employee) on
the last day of such 

  

 47 

 
Top Heavy Plan Year who is not also a participant in another qualified plan which satisfies the minimum contribution and benefit requirements of section 416
of the Code with respect to such Participant, the sum of the Discretionary Contributions and Loan Repayment Contributions made with respect to such Participant, when expressed as a percentage of his Total Compensation for such Top Heavy Plan Year,
shall not be less than 3% of such Participant’s Total Compensation for such Top Heavy Plan Year or, if less, the highest combined rate, expressed as a percentage of Total Compensation at which Discretionary Contributions and Loan Repayment
Contributions were made on behalf of a Key Employee for such Top Heavy Plan Year. The Employer shall make an additional contribution to the Account of each Participant to the extent necessary to satisfy the foregoing requirement. 
 Article XVIII 
 Miscellaneous
Provisions 
 Section 18.1 Governing Law. 
 The Plan shall be construed, administered and enforced according to the laws of the State of New York without giving effect to the conflict of laws
principles thereof, except to the extent that such laws are preempted by federal law. 
 Section 18.2 No Right to Continued
Employment. 
 Neither the establishment of the Plan, nor any provisions of the Plan or of the Trust Agreement establishing the Trust
Fund nor any action of the Plan Administrator, the Committee or the Trustee, shall be held or construed to confer upon any Employee any right to a continuation of employment by any Affiliated Employer. Each Affiliated Employer reserves the right to
dismiss any Employee or otherwise deal with any Employee to the same extent as though the Plan had not been adopted. 
 Section 18.3 Construction of Language. 
 Wherever appropriate in the Plan, words used in the singular may be read
in the plural, words used in the plural may be read in the singular, and words importing the masculine gender may be read as referring equally to the feminine and the neuter. Any reference to an Article or section number shall refer to an Article or
section of the Plan, unless otherwise indicated. 
 Section 18.4 Headings. 
 The headings of Articles and sections are included solely for convenience of reference. If there is any conflict between such headings and the text of the
Plan, the text shall control. 
 Section 18.5 Merger with Other Plans. 
 The Plan shall not be merged or consolidated with, nor transfer its assets or liabilities to, any other plan unless each Participant, Former Participant,
Beneficiary and other 

  

 48 

 
person entitled to benefits, would (if that plan then terminated) receive a benefit immediately after the merger, consolidation or transfer which is equal to
or greater than the benefit he would have been entitled to receive if the Plan had terminated immediately before the merger, consolidation or transfer. 
 Section 18.6 Non-alienation of Benefits. 
 (a) Except as provided in section 18.6(b) and
(c), the right to receive a benefit under the Plan shall not be subject in any manner to anticipation, alienation or assignment, nor shall such right be liable for or subject to debts, contracts, liabilities or torts. Should any Participant, Former
Participant or other person attempt to anticipate, alienate or assign his interest in or right to a benefit, or should any person claiming against him seek to subject such interest or right to legal or equitable process, all the interest or right of
such Participant or Former Participant or other person entitled to benefits in the Plan shall cease, and in that event such interest or right shall be held or applied, at the direction of the Plan Administrator, for or to the benefit of such
Participant or Former Participant, or other person or his spouse, children or other dependents in such manner and in such proportions as the Plan Administrator may deem proper. 
 (b) This section 18.6 shall not prohibit the Plan Administrator from recognizing a Domestic Relations Order that is determined to be a Qualified Domestic
Relations Order in accordance with section 18.7. 
 (c) Notwithstanding anything in the Plan to the contrary, a Participant’s, Former
Participant’s or Beneficiary’s Accounts under the Plan may be offset by any amount such Participant, Former Participant or Beneficiary is required or ordered to pay to the Plan if: 
 (i) the order or requirement to pay arises: (A) under a judgment issued on or after August 5, 1997 of conviction for a crime
involving the Plan; (B) under a civil judgment (including a consent order or decree) entered by a court on or after August 5, 1997 in an action brought in connection with a violation (or alleged violation) of part 4 of subtitle B of title
I of ERISA; or (C) pursuant to a settlement agreement entered into on or after August 5, 1997 between the Participant, Former Participant or Beneficiary and one or both of the United States Department of Labor and the Pension Benefit
Guaranty Corporation in connection with a violation (or alleged violation) of part 4 of subtitle B of title I of ERISA by a fiduciary or any other person; and 
 (ii) the judgment, order, decree or settlement agreement expressly provides for the offset of all or part of the amount ordered or
required to be paid to the Plan against the Participant’s, Former Participant’s or Beneficiary’s benefits under the Plan. 
 Section 18.7 Procedures Involving Domestic Relations Orders. 
 Upon receiving a Domestic Relations Order, the
Plan Administrator shall segregate in a separate account or in an escrow account or separately account for the amounts payable to any person pursuant to such Domestic Relations Order, pending a determination 

  

 49 

 
whether such Domestic Relations Order constitutes a Qualified Domestic Relations Order, and shall give notice of the receipt of the Domestic Relations Order
to the Participant or Former Participant and each other person affected thereby. If, within 18 months after receipt of such Domestic Relations Order, the Plan Administrator, a court of competent jurisdiction or another appropriate authority
determines that such Domestic Relations Order constitutes a Qualified Domestic Relations Order, the Plan Administrator shall direct the Trustee to pay the segregated amounts (plus any interest thereon) to the person or persons entitled thereto under
the Qualified Domestic Relations Order. If it is determined that the Domestic Relations Order is not a Qualified Domestic Relations Order or if no determination is made within the prescribed 18-month period, the segregated amounts shall be
distributed as though the Domestic Relations Order had not been received, and any later determination that such Domestic Relations Order constitutes a Qualified Domestic Relations Order shall be applied only with respect to benefits that remain
undistributed on the date of such determination. The Plan Administrator shall be authorized to establish such reasonable administrative procedures as he deems necessary or appropriate to administer this section 18.7. This section 18.7 shall be
construed and administered so as to comply with the requirements of section 401(a)(13) of the Code. 
 Section 18.8 Leased
Employees. 
 (a) Subject to section 18.8(b), a leased employee shall be treated as an Employee for purposes of the Plan. For purposes
of this section 18.8, the term “leased employee” means any person (i) who would not, but for the application of this section 18.8, be an Employee and (ii) who pursuant to an agreement between the Employer and any other person
(“leasing organization”) has performed for the Employer (or for the Employer and related persons determined in accordance with section 414(n)(6) of the Code), on a substantially full-time basis for a period of at least one year, services
performed under the primary direction or control of the Employer. 
 (b) For purposes of the Plan: 
 (i) contributions or benefits provided to the leased employee by the leasing organization which are attributable to services performed for
the Employer shall be treated as provided by the Employer; and 
 (ii) section 18.8(a) shall not apply to a leased employee
if: 
 (a) the number of leased employees performing services for the Employer does not exceed 20% of the number of the Employer’s
Employees who are not Highly Compensated Employees; and 
 (b) such leased employee is covered by a money purchase pension plan providing
(I) a nonintegrated contribution rate of at least 10% of the leased employee’s compensation; (II) immediate participation; (III) full and immediate vesting; and (IV) coverage for all of the employees of the leasing organization (other than
employees who perform substantially all of their services for the leasing organization). 
 Section 18.9 Status as an Employee
Stock Ownership Plan. 
 It is intended that the Plan constitute an “employee stock ownership plan,” as defined in section
4975(e)(7) of the Code and section 407(d)(6) of ERISA. The Plan shall be construed and administered to give effect to such intent. 
  

 50

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