Document:

<PAGE>

                                                                    EXHIBIT 10.3

                                                           AS AMENDED, EFFECTIVE
                                                               DECEMBER 13, 2004

                             EMS TECHNOLOGIES, INC.

                         DEFERRED COMPENSATION PLAN FOR
                             NON-EMPLOYEE DIRECTORS

                                    ARTICLE I
                            DEFERRAL OF COMPENSATION

1.1 PURPOSE AND ELIGIBILITY. This deferred compensation plan (this "Plan") for
persons serving as members of the Board of Directors (the "Board") of EMS
Technologies, Inc. (the "Company") who are not employed by the Company
("Non-Employee Directors") is adopted in order to allow each Non-Employee
Director to (i) automatically defer a portion of his or her annual retainer for
service on the Board (the "Retainer") as set forth in Section 1.2 below, and
(ii) defer the receipt of all or part of the balance of his or her Retainer and
of his or her other compensation for service as a member of the Board or
committees thereof (collectively, "Eligible Compensation") as set forth in
Section 1.3 below.

1.2 AUTOMATIC DEFERRAL. Each Non-Employee Director will have a portion of his or
her Retainer then in effect automatically deferred and credited to his or her
Deferral Account as set forth in Sections 2.1 and 2.2 below. The portion of the
Retainer subject to such automatic deferral shall be determined from time to
time, prior to the beginning of the calendar year, by the Nominating and
Governance Committee of the Board (the "Committee"), but shall be not less than
40%. Subject to the other provisions of this Plan, all amounts deferred under
this Section shall be payable on the tenth day of the month following the month
in which the participant ceases to be a member of the Board.

1.3    IRREVOCABLE ELECTION FOR ADDITIONAL DEFERRAL

      A. Except as provided in paragraph 1.3(B), prior to the first day of each
calendar year, each Non-Employee Director shall be entitled to make an
irrevocable election on a form provided by the Company to receive Eligible
Compensation payable during such year in cash or to defer payment of all or any
portion thereof into his or her Deferral Account.

      Subject to the other provisions of this Plan, all amounts deferred under
this Section with respect to a calendar year shall be payable on the earlier of:
(i) the tenth day of the month following the month in which the participant
ceases to be a member of the Board; or (ii) January 10 of the fifth year
following the year of deferral, subject to the participant's election at least
one year prior to any such date to defer payment of all or a portion of the
amount then payable for one additional period of not less than five years but
not beyond the date specified in clause (i) above.

      B. Each Non-Employee Director as of the date of the adoption of this Plan
by the Board and each person who becomes a Non-Employee Director during a
calendar year shall, within 30 days after such date of adoption or the date of
becoming a Non-Employee Director, be entitled to make the irrevocable election
described in paragraph 1.3(A) for the remainder of such calendar year, which
election shall be effective only as to Eligible Compensation earned after the
date thereof.

      C. Failure to file an election for any year as specified in paragraphs
1.3(A) and (B) shall be deemed to be an election to receive in cash all Eligible
Compensation for such year.

                                                                     Page 1 of 4
<PAGE>

                                   ARTICLE II
                     DEFERRAL ACCOUNT; DEFERRED STOCK UNITS

2.1 DEFERRAL ACCOUNT. Amounts deferred under this Plan shall be credited to a
notional bookkeeping account (a "Deferral Account") established for each
participant.

2.2 DEFERRED STOCK UNITS. Amounts credited to each participant's Deferral
Account will be deemed to be invested in the form of deferred stock units
("DSU's") representing shares of the Company's $1.00 par value common stock
("EMS Shares"). DSU's are not actual EMS Shares, and cannot be settled in or
surrendered for EMS Shares. Instead, they are bookkeeping units that will be
administered by the Company to provide a return on each Deferral Account equal
to the return that would occur if the amounts credited to the Deferral Account
were used to purchase EMS Shares on the dates so credited, including the effects
of immediate reinvestment of any cash dividends paid from time to time on the
EMS Shares. Holders of DSU's have no voting rights or any attributes of stock
ownership other than such equivalent economic return. The number of DSU's
received upon each deferral shall be equal to the amount thereof divided by the
Fair Market Value (as then defined in the Company's 1997 Stock Incentive Plan or
any similar successor plan) of the EMS Shares on the date of the deferral.

2.3 RECAPITALIZATION. If, as a result of a recapitalization of the Company
(including stock splits), the EMS Shares shall be changed into a greater or
smaller number of shares, the number of DSU's credited to each Deferral Account
shall be appropriately adjusted on the same basis as such recapitalization. If
the Company shall make a distribution in kind on the EMS Shares, or the EMS
Shares shall as a result of a merger, recapitalization or similar transaction be
converted into different property or shares, each DSU shall thereafter be deemed
to include or consist of the property or shares so distributed with respect to
each EMS Share, or into which each EMS Share was so converted. The provisions of
this Section shall apply to successive transactions of the type specified herein
that may affect the value of the property deemed from time to time to be
included in the DSU's.

                                   ARTICLE III
                        PAYMENT OF DEFERRED COMPENSATION

3.1 METHOD OF PAYMENT OF DEFERRED COMPENSATION. The first date on which a
participant is entitled to receive payment of a particular deferred amount, as
determined under the provisions of Section 1.2 or paragraph 1.3A, is referred to
herein as the "Payment Commencement Date" with respect to such deferred amount.
Payment shall be made in the form of a lump sum except to the extent the
participant has elected annual installments for a period specified by the
participant, commencing on the Payment Commencement Date and terminating no
later than ten years from such date. Such election may be made prior to the
commencement of the particular deferral, and may be made or modified thereafter
on one occasion at any time at least one year prior to the Payment Commencement
Date. No modification may accelerate any payment date and no modification may
extend the payment date or dates by less than five years, or extend the period
for installment payments beyond ten years from the Payment Commencement Date.

3.2 AMOUNT OF PAYMENTS. The amount of the each payment shall be the value of the
DSU's in the participant's Deferral Account on the payment date, divided (in the
case of elections of annual installments) by the total number of installments
(including such installment) remaining to be paid. In each case, such value
shall be the number of DSU's credited to the Deferral Account multiplied by the
Fair Market Value on the date of the payment, and upon occurrence of the payment
such number of DSU's shall be reduced to reflect the payment.

3.3 BENEFICIARIES; PAYMENT ON DEATH. A participant may designate on a form
provided by the Company a beneficiary or beneficiaries to receive upon the
participant's death any unpaid amounts credited to the participant's Deferral
Account. At any time, and from time to time, a participant may change or revoke
his or her beneficiary designation without the consent of any beneficiary. Any
such designation, change or revocation must be made by executing a new
beneficiary designation form and filing such form with the Company. If the
participant designates more than one beneficiary, any payments to beneficiaries
will be made in equal percentages unless the

                                                                     Page 2 of 4
<PAGE>

participant designates otherwise. Upon the participant's death, any portion of
herein, and the Plan shall be administered in all respects as if such
beneficiary will be paid to the participant's estate in the form of a lump sum.

3.4 PERMANENT DISABILITY. If a Participant becomes permanently disabled before
payment of all or any part of amounts credited to his or her Deferral Account,
the balance in such Deferral Account shall be paid in a lump sum as soon as
practicable after the occurrence of such disability, unless the disabled
individual is allowed to make a new election regarding distribution under
Section 3.1. The determination of permanent disability for this purpose shall be
made in accordance with Section 409A of the Internal Revenue Code and the
applicable regulations and other guidance of general applicability that is
issued thereunder ("Section 409A").

3.5 ACCELERATION OF PAYMENT. Except as expressly provided in this Section 3.5,
no payment of benefits shall be made under this Plan prior to the payment date
or dates established pursuant to Section 1.2 or paragraph 1.3A above. A
Participant who is suffering an unforeseen and severe financial hardship as a
result of an illness or accident affecting the Participant or his or her
immediate family, or loss of Participant's property due to casualty, or of such
other similar extraordinary and unforeseeable circumstances, arising as a result
of events beyond the control of the Participant (as the Committee may establish
in accordance with any provisions of the Internal Revenue Code or of regulations
adopted thereunder, either as in effect from time to time, compliance with which
is specified therein as a requirement for deferral into a subsequent tax year of
recognition as taxable income of Eligible Compensation with respect to any
year), may file a written request with the Committee for distribution of all or
a portion of the amount credited to his or her Deferral Account. The Committee
shall have sole discretion to determine whether to grant a Participant's
hardship request and the amount to distribute to the Participant. The Committee
shall not authorize distribution of an amount in excess of that reasonably
necessary to alleviate the hardship, after consideration of both taxes owed on
the distribution and other financial resources available to the Participant. Any
Participant who receives a hardship distribution shall not be eligible to make
additional deferrals of Eligible Compensation pursuant to Section 1.3 for a
period of 12 months immediately following the date of the distribution. If such
Participant becomes eligible under the preceding sentence prior to the last day
of a calendar year, he or she must elect to participate within 30 days of the
date he becomes so eligible, and prior to the end of the calendar year, and
otherwise may not again become a Participant until the first day of the
immediately following year.

                                   ARTICLE IV
                                     GENERAL

4.1 PLAN AMENDMENT AND TERMINATION. The Board may amend or terminate this Plan
at any time. Upon termination of the Plan, each participant's Deferral Account
shall be distributed in accordance with Article II.

4.2 NO RIGHT TO CORPORATE ASSETS. This Plan is a non-qualified, unfunded,
deferred compensation plan. The Company will not be required to reserve,
segregate or deposit any funds or assets of any kind to meet its obligations
hereunder, which obligations are general unsecured obligations of the Company.
Nothing in this Plan will give a participant, a participant's beneficiary, or
any other person any equity or other interest in the assets of the Company, or
create either a trust or fiduciary relationship of any kind between the Company
and any such person. Any rights that a participant, beneficiary or other person
may have under this Plan shall not be assignable by any such person. However,
nothing contained herein shall prevent the Company, in its sole discretion, from
establishing a trust (but only under the laws of a jurisdiction within the
United States), including a so-called rabbi trust, for the purpose of providing
for the payment of its obligations arising hereunder . The assets of such trust
shall remain subject to the claims of the Company's creditors, and no
participant shall have any interest in such assets.

4.3 LIMITATION ON RIGHTS CREATED BY PLAN. Nothing in this Plan will give a
participant any right to continue as a member of the Board.

4.4 GOVERNING LAW. This Plan will be construed, enforced and administered
according to the laws of the State of Georgia.

                                                                     Page 3 of 4
<PAGE>

4.5 ADMINISTRATION AND INTERPRETATION. The Company may adopt any rules and
procedures it deems appropriate to provide for the orderly and efficient
administration of the Plan.

      The Committee may interpret the provisions of this Plan, and in the
absence of bad faith any such interpretations shall be binding upon the Company
and all participants. The Committee may also make any amendments or
clarifications of a technical nature that it deems appropriate to carry out the
terms of this Plan.

4.6 CHANGE OF CONTROL. For two years after a Change of Control, and except with
the consent of each person at that time participating in this Plan, this Plan
may not be terminated, nor may it be amended if such amendment would (i) reduce
the amount of any benefit provided hereunder below the amount that would have
been payable on the date immediately preceding the date of the Change of
Control, or (ii) reduce the rate or amount of benefits accruing hereunder below
that in effect on the date immediately preceding such date.

      A "Change of Control" shall be deemed to have occurred upon the occurrence
of a Triggering Event as defined in the Company's Stockholder Rights Plan dated
as of April 6, 1999.

4.7 CONFORMANCE WITH SECTION 409A. At all times, this Plan shall be operated in
accordance with the requirements of Section 409A. Any action that may be taken
(and, to the extent possible, any action actually taken) by the Committee or the
Company shall not be taken (or shall be void and without effect), if such action
violates the requirements of Section 409A. Any provision in this Plan document
that is determined to violate the requirements of Section 409A shall be void and
without effect. In addition, any provision that is required to appear in this
Plan document that is not expressly set forth shall be deemed to be set forth
herein, and the Plan shall be administered in all respects as if such provision
were expressly set forth. If the Plan in form or operation does not comply with
any provision of Section 409A, compliance with which is specified therein as a
requirement for deferral into a subsequent tax year of recognition as taxable
income of compensation with respect to any calendar year, that defect in form or
operation shall be treated for the purposes of this Section 4.7 as violating
Section 409A.

                                                                     Page 4 of 4<PAGE>

                                                                    EXHIBIT 10.4

                                                                      AS AMENDED
                                                               DECEMBER 13, 2004

                             EMS TECHNOLOGIES, INC.

                      OFFICERS' DEFERRED COMPENSATION PLAN

                                    ARTICLE I

                         INTRODUCTION AND ESTABLISHMENT

            EMS Technologies, Inc. (the "Company") hereby establishes the EMS
Technologies, Inc. Officers' Deferred Compensation Plan (the "Plan") for the
benefit of certain management employees of the Company. The Plan was originally
adopted by the Company's Board of Directors (the "Board") on, and was effective
as of, November 13, 2003. The Plan, as amended and restated was adopted by the
Board on, and is effective as of, December 13, 2004.

                                   ARTICLE II

                                   DEFINITIONS

            When used in this Plan, the following terms shall have the meanings
set forth below unless a different meaning is plainly required by the context:

      2.1   "Account" means the records maintained by the Plan Administrator to
determine each Participant's interest under this Plan. Such Account may be
reflected as an entry in the Employer's records, or as a separate account under
any trust established to provide benefits under the Plan, or as a combination of
both. The Plan Administrator may establish additional subaccounts as it deems
necessary for the proper administration of the Plan.

      2.2   "Applicable Regulations" means any provisions of the Internal
Revenue Code or of regulations adopted thereunder, either as in effect from time
to time, compliance with which is specified therein as a requirement for
deferral into a subsequent tax year of recognition as taxable income of
Compensation with respect to any Plan Year.

      2.3   "Beneficiary" means the person or persons last designated in writing
by a Participant to receive the amount in his or her Account in the event of
such Participant's death; or if no designation shall be in effect at the time of
a Participant's death or if all designated Beneficiaries shall have predeceased
the Participant, then the Beneficiary shall be such Participant's surviving
spouse, if any, and if none, the Participant's estate.

      2.4   "Compensation" with respect to any Plan Year means (i) all salary
paid during such year in accordance with the Employer's normal payroll
practices, and (ii) all bonus and other cash compensation earned during or in
respect of services provided during such Year, regardless of whether paid during
or subsequent to such Year.

<PAGE>

      2.5   "Election Form" means the form prescribed by the Plan Administrator
on which a Participant may specify the amount of his or her Compensation that is
to be deferred pursuant to the provisions of Article III, and the times and form
of payment pursuant to Article IV.

      2.6   "Employer" means the Company and each direct or indirect wholly
owned subsidiary of the Company that is the employer of a Participant.

      2.7   "Officer" means any employee of the Company or any direct or
indirect wholly owned subsidiary of the Company who holds a title, at either the
Company or divisional level, of vice president or higher, controller or general
counsel.

      2.8   "Participant" means any eligible Officer who has satisfied the
requirements for participation in this Plan and who has an Account.

      2.9   "Plan Administrator" means the committee or individual appointed
pursuant to the provisions of this Plan to administer the Plan. In the absence
of such appointment, the Company shall be the Plan Administrator.

      2.10  "Plan Year" means the calendar year.

                                   ARTICLE III

                                  PARTICIPATION

      3.1   Eligibility to Participate. Each Officer shall be eligible to
participate in the Plan and shall become a Participant upon completion of the
Election Form provided for in Section 3.3 below. A Participant shall continue to
be eligible to participate in the Plan for so long as he or she shall continue
to be an Officer.

      3.2   Deferral Election. Each Participant may elect to defer under the
Plan any whole percentage of his or her Compensation (but not less than 10 % of
the Compensation to which the election pertains), in the manner described in
Section 3.3. The amount deferred by the Participant shall be deducted each pay
period in which the Participant has Compensation during his period of
participation in the Plan, but the Participant shall nonetheless be responsible
for FICA, Medicare and other applicable taxes required at the time to be
withheld by the Employer.

      3.3   Time and Manner of Election. An eligible Officer desiring to become
a Participant shall complete an Election Form indicating the percentage or
dollar amount of Compensation with respect to a Plan Year to be deferred under
the Plan. Such election may be separately stated with respect to salary, bonus
or other forms of cash compensation. Such election must be made prior to the
period of service for which the subject Compensation would otherwise be payable,
but in any event prior to the beginning of such Plan Year (or within 30 days of
his or her initial eligibility to participate).

      If an Officer who is a Participant for a Plan Year fails to file a
properly completed and duly executed Election Form with the Plan Administrator
prior to the first day of the succeeding Plan Year, he or she will be deemed to
have elected the same deferral percentage(s) as in his or her most recent prior
deferral election, which shall remain in effect for each succeeding Plan Year
until a new Election Form is properly submitted. Except as provided in Section
3.4, a Participant may not, after the applicable election date, discontinue his
or her election to participate or change the percentage of Compensation he or
she has elected to defer for a Plan Year.

                                       2
<PAGE>

            The Participant shall designate on the Election Form (or on a
separate form provided by the Plan Administrator) a Beneficiary to receive
payment of amounts in his or her Account in the event of death.

      3.4   Change of Election. A Participant may at any time during the Plan
Year terminate an election and discontinue future deferrals of Compensation
under this Plan by providing written notice to the Plan Administrator prior to
the start of the next payroll period for which Compensation will be payable,
unless such termination and discontinuance would not be consistent with
Applicable Regulations. In such event, Compensation earned for services
subsequent to such termination notice will be paid directly to the Participant
and will not be subject to the prior deferral election. A Participant who elects
to discontinue participation in the Plan for a Plan Year may not recommence
participation in the Plan until the next following Plan Year (or such later Plan
Year in which he or she is again eligible to participate), provided the
Participant completes and executes the required Election Form prior to the
beginning of the subsequent Plan Year. Increases or decreases in the amount a
Participant elects to defer (other than a suspension of deferrals) shall not be
permitted during the Plan Year.

                                   ARTICLE IV

                            INTEREST OF PARTICIPANTS

      4.1   Accounting for Participants' Interests.

            (a)   Deferrals. Each Participant's Account shall be credited with
            the amounts of Compensation deferred by the Participant under this
            Plan, for each pay period during which he or she is a Participant,
            until such time as the Account is fully distributed. The timing and
            manner in which amounts are credited to Participants' Accounts under
            this Plan shall otherwise be determined by the Employer and the Plan
            Administrator in their discretion.

            (b)   Account Interest. The Participant's Account shall be credited
            with interest, compounded semi-annually, at the prime rate for
            commercial borrowers specified by SunTrust Bank in effect on the
            first day of each calendar quarter, except that (i) a Participant
            may agree with respect to any particular category of Compensation
            deferred under the Plan that no, or a lesser amount of, interest
            shall be credited with respect thereto, and (ii) no interest shall
            accrue or be payable after the Participant ceases to be an employee
            of the Company or a direct or indirect wholly owned subsidiary,
            unless as a result either of retirement with the consent of the
            Employer or of a disability (as determined by the Plan
            Administrator).

      4.2   Vesting of a Participant's Account. A Participant's interest in the
value of his or her Account shall at all times be 100% vested and
nonforfeitable.

      4.3   Distribution of a Participant's Account. A Participant's Account
shall be distributed as provided in this Section 4.3.

            (a)   Date Specified in Participant's Election. Each Participant
            may, at the time of making a deferral election, designate the date
            or dates on which amounts deferred as a result of such election
            (together with interest earned thereon) shall be distributed. No
            such distribution shall be over a period exceeding ten years, nor
            commence sooner than the calendar year immediately succeeding the
            Plan Year of the deferral, and all

                                       3
<PAGE>

            distributions must be completed not later than ten years following
            the Participant's termination of employment. Separate dates may be
            specified for deferrals of salary, bonus or other forms of cash
            compensation. Any such designation may be changed on one occasion to
            further defer the distribution date or dates by not less than five
            years from the date that such payment was scheduled to be made or
            begin (a "Further Five-Year Deferral Election") by submission of a
            revised Election Form not later than 12 months prior the specified
            distribution date.

            (b)   Retirement or Other Termination of Employment. In the event
            the Participant retires or has an other termination of employment,
            the amount credited to his or her Account shall be paid to such
            Participant in a lump sum, unless the Participant shall have
            designated at the time of his or her initial enrollment, or on not
            more than one Further Five-Year Deferral Election that is submitted
            at least 12 months prior to the event giving rise to payment, that
            payment be made in substantially equal annual installments over a
            period of years (not to exceed ten).

            Payment shall be made or shall commence as soon as practical after
            such retirement or other termination of employment; provided,
            however, the Participant may elect to delay the commencement of
            payment until the date specified on the Election Form (subject to
            the requirements of paragraph (a) above), if such election to defer
            payment is made at the time of his or her initial enrollment or
            thereafter on one occasion as a Further Five-Year Deferral Election
            made at least 12 months prior to the date of retirement or other
            termination; and provided further, however, that any Participant
            designated in Applicable Regulations, based on his or her
            compensation and/or ownership of the Company's common stock, as
            being subject to more restrictive times for the making or
            commencement of payments, shall be subject to such more restrictive
            times, regardless of the terms of such Participant's original
            election.

            If the election as to the form or time of payment is not made upon
            initial enrollment or thereafter at least 12 months prior to the
            date of retirement or other termination of employment, the balance
            credited to the Participant's Account shall, subject to the second
            proviso of the preceding paragraph, be paid as he or she elected
            most recently, but at least 12 months prior to the date of
            termination; provided, however, that if the termination is due to
            the Participant's suffering a disability (as determined by the Plan
            Administrator, consistent with Applicable Regulations), the
            foregoing 12-month restriction will not apply. In the absence of a
            valid election, the balance credited to the Account shall, subject
            to the second proviso of the preceding paragraph, be paid in a lump
            sum as soon as practical after his or her effective date of
            retirement or other termination of employment.

            (c)   Effect of Applicable Regulations. In the event Applicable
            Regulations shall specify minimum or maximum standards for initial
            or modified elections as to the form or time of payments of amounts
            credited to a Participant's Account, any such elections shall be
            subject to compliance with such standards, as if set forth in this
            Plan.

            (d)   Death of Participant. In the event of the death of a
            Participant, distribution of the balance credited to his or her
            Account as of the date of death shall be made to his or her
            Beneficiary(ies) in a lump sum, as soon as practical thereafter.

            (e)   Change in Control. In the event that a change in control of
            the Company shall occur without the approval of a majority of the
            members of the Board having no

                                       4
<PAGE>

            affiliation with, and not nominated or otherwise designated for
            membership on the Board by, the party or parties acquiring control,
            the balances credited to the Account of each Participant shall be
            distributed to him or her as soon as practicable thereafter. For
            these purposes a "change in control" shall be deemed to have
            occurred if any person or group (as such terms are defined in
            Section 13(d)(3) of the Securities Exchange Act of 1934, as
            amended), becomes the holder of 50% or more of the outstanding
            shares of the Company's voting common stock, provided however, that
            if Applicable Regulations specify a more restrictive definition of
            "change in control," then such more restrictive definition shall
            prevail.

      4.4   Early Distributions. Except as expressly provided in this Section
4.4, no payment of benefits shall be made under this Plan prior to the
distribution date established pursuant to Section 4.3 above. A Participant who
is suffering an unforeseen and severe financial hardship as a result of an
illness or accident affecting the Participant or his or her immediate family, or
loss of Participant's property due to casualty, or of such other similar
extraordinary and unforeseeable circumstances, arising as a result of events
beyond the control of the Participant, as the Plan Administrator may establish
in accordance with Applicable Regulations, may file a written request with the
Plan Administrator for distribution of all or a portion of the amount credited
to his or her Account. The Plan Administrator shall have sole discretion to
determine whether to grant a Participant's hardship request and the amount to
distribute to the Participant. The Plan Administrator shall not authorize
distribution of an amount in excess of that reasonably necessary to alleviate
the hardship, after consideration of both taxes owed on the distribution and
other financial resources available to the Participant. Any Participant who
receives a hardship distribution shall not be eligible to make additional
deferrals of Compensation to the Plan for a period of 12 months immediately
following the date of the distribution. If such Participant becomes eligible
under the preceding sentence prior to the last day of a Plan Year, he or she
must elect to participate within 30 days of the date he becomes so eligible, and
may not again become a Participant until the first day of the immediately
following Plan Year.

                                    ARTICLE V

                               PLAN ADMINISTRATOR

      5.1   Action. If a committee serves as the Plan Administrator, it may take
action with or without a meeting of committee members; provided, however, that
any action shall be taken only upon the vote or other affirmative expression of
a majority of the committee members qualified to vote with respect to such
action. No member of any such committee, nor the appointed individual, may
participate in any decision that solely affects his or her own Account. The Plan
Administrator shall maintain records of the Plan Administrator's proceedings and
other records and documents pertaining to the administration of the Plan.

      5.2   Right and Duties. The Plan Administrator shall administer and manage
the Plan and shall have all powers necessary to accomplish that purpose,
including (but not limited to) the following:

                  i.    To construe, interpret, and administer the Plan;

                  ii.   To make allocations and determinations required by the
                        Plan, and to maintain records regarding Participants'
                        Accounts;

                                       5
<PAGE>

                  iii.  To compute and certify to the Employer the amount and
                        kinds of benefits payable to Participants or their
                        Beneficiary(ies), and to determine the time and manner
                        in which such benefits are to be paid;

                  iv.   To authorize all disbursements by the Employer pursuant
                        to the Plan;

                  v.    To maintain (or cause to be maintained) all the
                        necessary records of the administration of the Plan;

                  vi.   To make and publish such rules for the regulation of the
                        Plan as are not inconsistent with the terms hereof;

                  vii.  To delegate to other individuals or entities from time
                        to time the performance of any duties or
                        responsibilities hereunder; and

                  viii. To hire agents, accountants, actuaries, consultants and
                        legal counsel to assist in operating and administering
                        the Plan.

            The Plan Administrator shall have the exclusive discretionary
authority to construe and to interpret the Plan, to decide all questions of
eligibility for benefits, and to determine the amount and manner of payment
of such benefits, and its decisions on such matters shall be final and
conclusive on all parties; provided, however, that all such determinations and
decisions shall be consistent with and subject to Applicable Regulations and the
express provisions of the Plan.

      5.4   Compensation, Indemnity and Liability. The Plan Administrator shall
serve as such without bond and without compensation for services hereunder. All
expenses of the Plan and the Plan Administrator shall be paid by the Company. If
the Plan Administrator is a committee, no member of the committee shall be
liable for any act or omission of any other member of the committee, nor for any
act or omission on his or her own part excepting willful misconduct. The Company
shall indemnify and hold harmless the Plan Administrator and each member of the
committee, if any, against any and all expenses and liabilities, including
reasonable legal fees and expenses, arising out of membership on the committee,
excepting only expenses and liabilities arising out of his or her own willful
misconduct.

      5.5   Taxes. If the whole or any part of any Participant's Account shall
become liable for the payment of any estate, inheritance, income or other tax
which the Employer shall be required to pay or withhold, the Employer shall have
the full power and authority to withhold and pay such tax out of any monies or
other property in its hand for the account of the Participant whose interests
hereunder are so liable. The Employer shall provide the Participant notice of
such withholding. Prior to making any payment, the Employer may require such
releases or other documents from any lawful taxing authority as it shall deem
necessary.

                                   ARTICLE VI

                                CLAIMS PROCEDURE

      6.1   Claims for Benefits. If a Participant or Beneficiary(ies)
(hereafter, "Claimant") does not receive timely payment of any benefits which he
or she believes are due and payable under the Plan, he or she may make a claim
for benefits to the Plan Administrator. The claim for benefits must be in
writing and addressed to the Plan Administrator or to the Company. If the claim
is denied, the Plan Administrator shall notify the Claimant in writing within 90
days after the Plan Administrator initially received the benefit claim. However,
if special circumstances require an extension of time for

                                       6
<PAGE>

processing the claim, the Plan Administrator shall furnish notice of the
extension to the Claimant prior to the termination of the initial 90-day period
and such extension shall not exceed one additional, consecutive 90-day period.
Any notice of a denial of benefits shall advise the Claimant of the basis for
the denial, any additional material or information necessary for the Claimant to
perfect his or her claim, and the steps which the Claimant must take to have the
claim for benefits reviewed.

      6.2   Appeals. Each Claimant whose claim for benefits has been denied may
file a written request for a review of his claim by the Plan Administrator. The
request for review must be filed within 60 days after receipt of the written
notice denying the claim. The decision of the Plan Administrator will be made
within 60 days after receipt of a request for review and shall be communicated
in writing to the Claimant. Such written notice shall set forth the basis for
the Plan Administrator's decision. If there are special circumstances that
require an extension of time for completing the review, the Plan Administrator's
decision shall be rendered not later than 120 days after receipt of a request
for review.

                                   ARTICLE VII

                            AMENDMENT AND TERMINATION

      7.1   Amendments. The Board shall have the right in its sole discretion to
amend this Plan in whole or in part at any time, and all Participants shall be
bound thereby; provided, however, that no such amendment shall reduce either the
amounts credited at that time to any Participant's Account or the interest to be
paid on such amounts prior to their distribution in accordance with each
Participant's elections then in effect.

      7.2   Termination of Plan. The Company expects to continue the Plan, but
does not obligate itself to do so. The Company reserves the right to discontinue
and terminate the Plan at any time, in whole or in part, for any reason
(including a change, or an impending change, in the tax laws of the United
States or any state thereof). Termination of the Plan shall be binding on all
Participants, but in no event may such termination reduce the amounts credited
at that time to any Participant's Account, or the interest to be paid on such
amounts prior to their distribution. If the Plan is terminated, amounts
theretofore credited to Participants' Accounts shall either be paid in a lump
sum immediately, or distributed in some other manner consistent herewith, as
determined by the Plan Administrator in its sole discretion.

                                   ARTICLE VII

                                  MISCELLANEOUS

      8.1   Limitation on Participant's Rights. Participation in the Plan shall
not give any Participant the right to be retained in the Company's employ or any
right or interest in the Plan or any assets of the Company other than as herein
provided. The Company and each Employer reserve the right to terminate the
employment of any Participant without any liability for any claim against the
Company under the Plan, except to the extent provided herein.

      8.2   Benefits Unfunded. The benefits provided by the Plan shall be
unfunded. All amounts payable hereunder shall be paid from the general assets of
the Company or Employer, and nothing contained herein Plan shall require the
Company or Employer to set aside or hold in trust any amounts or assets for the
purpose of paying benefits to Participants. This Plan shall create only a
contractual obligation on the part of the Company or Employer, and Participants
shall have the status of general unsecured creditors of the Company or Employer
with respect to amounts of Compensation they defer hereunder or any other
obligation of the Company or Employer to pay benefits pursuant hereto. Any

                                       7
<PAGE>

funds available to pay benefits pursuant to the Plan shall be subject to the
claims of general creditors of the Company or Employer, and may be used for any
purpose by the Company or Employer.

            Notwithstanding the preceding paragraph, the Company or Employer
may, with the approval of the Board, at any time transfer assets to a trust
established under the laws of a jurisdiction within the United States, for
purposes of paying all or any part of its obligations under the Plan. However,
such transferred amounts shall remain subject to the claims of general creditors
of the Company or Employer to the extent specified in, and in accordance with
the terms of, such trust. To the extent that assets are held in the trust when a
Participant's benefits under the Plan become payable, the Plan Administrator
shall direct the trustee to make trust assets available to pay such benefits to
the Participant. Any payments made to a Participant or Beneficiary(ies) from
such trust shall relieve the Company and Employer from any further obligations
under the Plan only to the extent of such payment.

      8.3   Other Plans. The Plan shall not affect the right of any Officer or
Participant to participate in and receive benefits under and in accordance with
the provisions of any other benefit plans which are now or hereafter maintained
by the Employer, unless the terms of such other benefit plan or plans
specifically provide otherwise.

      8.4   Receipt or Release. Any payment to a Participant in accordance with
the provisions of the Plan shall, to the extent thereof, be in full satisfaction
of all claims against the Plan Administrator and the Company, and the Plan
Administrator may require such Participant, as a condition precedent to such
payment, to execute a receipt and release to such effect.

      8.5   Governing Law. The Plan shall be construed, administered, and
governed in all respects in accordance with applicable federal law and, to the
extent not preempted by federal law, in accordance with the laws of the State of
Georgia. If any provisions of this instrument shall be held by a court of
competent jurisdiction to be invalid or unenforceable, the remaining provisions
hereof shall continue to be fully effective.

      8.6   Employers. Each Employer shall be the primary obligor with respect
to the Plan benefits that are owed to a Participant who is employed by the
Employer, and if a trust is established pursuant to Section 8.2, such Employer
shall make contributions to the trust on behalf of the Participants that it
employs.

      8.7   Gender, Tense, and Headings. In this Plan, whenever the context so
indicates, the singular or plural number and the masculine, feminine, or neuter
gender shall be deemed to include the other. Headings and subheadings are
inserted for convenience of reference only and are not considered in the
construction of the provisions hereof.

      8.8   Nonalienation of Benefits. The amounts credited to the Account of a
Participant shall not (except as provided in Section 5.5) be subject in any
manner to anticipation, alienation, sale, transfer, assignment, pledge,
encumbrance, charge, garnishment, execution or levy of any kind, either
voluntary or involuntary, and any attempt to anticipate, alienate, sell,
transfer, assign, pledge, encumber, charge or otherwise dispose of any right to
any benefits payable hereunder, including, without limitation, any assignment or
alienation in connection with a separation, divorce, child support or similar
arrangement, shall be null and void and not binding on the Plan or the Company
or Employer.

      8.9   Conformance with Section 409A. At all times during each Plan Year,
this Plan shall be operated in accordance with the requirements of Section 409A
of the Internal Revenue Code and the applicable regulations and other guidance
of general applicability that is issued thereunder ("Section 409A"). Any action
that may be taken (and, to the extent possible, any action actually taken) by
the

                                       8
<PAGE>

Plan Administrator or the Company shall not be taken (or shall be void and
without effect), if such action violates the requirements of Section 409A. Any
provision in this Plan document that is determined to violate the requirements
of Section 409A shall be void and without effect. In addition, any provision
that is required to appear in this Plan document that is not expressly set forth
shall be deemed to be set forth herein, and the Plan shall be administered in
all respects as if such provision were expressly set forth. If the Plan in form
or operation does not comply with any provision of Section 409A, compliance with
which is specified therein as a requirement for deferral into a subsequent tax
year of recognition as taxable income of Compensation with respect to any Plan
Year, that defect in form or operation shall be treated for the purposes of this
Section 8.9 as violating Section 409A.

                                       9

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00083-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00083-of-00352.parquet"}]]