Document:

EXHIBIT 10.10(a)

FIRST AMENDMENT TO THE

MINERALS TECHNOLOGIES INC. RETIREMENT PLAN

(as amended and restated effective as of January 1, 2006, with
certain other effective dates)

WHEREAS, pursuant to Section 9.1 of the Minerals Technologies Inc.
Retirement Plan, as amended and restated effective as of January 1, 2006, with
certain other effective dates (the "Plan"), Minerals Technologies Inc. reserves
the right to amend the Plan by action of its Board of Directors and now wishes
to do so by the following amendment.

NOW THEREFORE, the Plan is hereby amended, effective as of January 1,
2008, as follows:

1. Section 2.1(s) shall be amended to read as follows:

    "'Disability Leave Status' shall mean
    the status of a Member who, for purposes of the Career Earnings Formula, has
    been determined to be Disabled and who has completed at least five years of
    Creditable Service (effective January 1, 2008, at least three years of
    Creditable Service) at the time his Disability began."

  

2. Section 2.1(ee) shall be amended to read as follows:

    "'Normal Retirement Age' shall mean age 65 if the Employee
    commenced employment on or before July 31, 2002, or the later of the date
    the Employee attains age 65 or completes five years of Creditable Service
    (effective January 1, 2008, three years of Creditable Service), if the
    Employee commences employment on or after August 1, 2002."

  

3. The first sentence of Section 4.2(a) shall be amended to read as follows:

    "A Member whose Severance from Service Date occurs after he has completed
    five or more Years of Creditable Service (effective January 1, 2008, three
    or more Years of Creditable Service) shall be entitled to receive a
    Retirement Benefit commencing at Normal Retirement Date calculated in
    accordance with Section 4.1, the monthly amount of which, if such benefit
    were paid in the form of a Single Life Annuity, shall be equal to the
    Member's Accrued Benefit at his Annuity Starting Date under the Career
    Earnings Formula and/or the Actuarial Equivalent of his Cash Balance Account
    at his Annuity Starting Date."

  

4. Section 4.2(b)(1) shall be amended to read as follows:

    "Provisions Applicable to Accrued Benefits Attributable to the Cash
    Balance Formula. Subject to the provisions of Article 6, a Member whose
    Severance from Service Date occurs after he has completed five or more Years
    of Creditable Service (effective January 1, 2008, three or more Years of
    Creditable Service) shall be entitled to elect that the Retirement Benefit
    payable pursuant to the Cash Balance Formula, if any, commence on the first
    day of the month coincident with or following his Severance from Service
    Date up to his Normal Retirement Date."

  

 

  

 

  

5. The first sentence of Section 4.2(b)(2)(C) shall be amended to read as
follows:

    "A Member whose Severance From Service Date occurs on or after the date
    as of which the Member has completed five or more Years of Creditable
    Service (effective January 1, 2008, three or more Years of Creditable
    Service), but prior to the date as of which the Member satisfies the
    requirements of Sections 4.2(b)(2)(A) and (B), may elect to commence his
    Retirement Benefit as of the first day of any month prior to the Member's
    Normal Retirement Date on or after the Member has attained age 55."

  

6. The first sentence of Section 4.2(b)(2)(D) shall be amended to read as
follows:

    "The foregoing notwithstanding, the Retirement Benefit of a Member who
    has completed at least five Years of Creditable Service (effective January
    1, 2008, at least three Years of Creditable Service) shall in no event be
    less than the Retirement Benefit to which the Member would have been
    entitled had his Severance from Service Date occurred on December 31, 1993,
    under the terms and conditions of the Plan as then in effect (the "1993
    Annuity")."

  

7. The first sentence of Section 4.4(a) shall be amended to read as follows:

    "Upon becoming Disabled, a Member who has completed at least five years
    of Creditable Service (effective January 1, 2008, at least three years of
    Creditable Service) will be eligible for Disability Leave Status."

  

8. The first sentence of Section 4.4(b) shall be amended to read as follows:

    "If a Member who has completed at least five years of Creditable Service
    (effective January 1, 2008, at least three years of Creditable Service) and
    who is an Employee suffers a Disability prior to termination, and, for
    reasons thereof, the Member's status as an Employee ceases, then such Member
    shall continue to be credited with Annual Pay Credits and Interest Credits
    during the period of such Disability as described below and as provided in
    Section 4.1 as if the individual were still actively employed."

  

9. Section 6.3(b)(1) shall be amended to read as follows:

    "With respect to a Retirement Benefit determined under the Career
    Earnings Formula, a Member may elect to receive his Retirement Benefit in
    the form of a lump sum payment; provided, however, that (A) the election to
    receive such lump sum payment must be made by the Member no later than the
    Member's Severance from Service Date (effective January 1, 2008, no later
    than the end of the second calendar month following the Member's Severance
    from Service Date), and (B) the Annuity Starting Date of such lump sum
    payment may not be deferred beyond the Annuity Starting Date next following
    or coincident with the Member's Severance from Service Date (effective
    January 1, 2008, the end of the second calendar month following the Member's
    Severance from Service Date). Such lump sum benefit shall be the Actuarial
    Equivalent of the Member's Accrued Benefit on the Member's Annuity Starting
    Date."

    

 

  

 

  

    10. Section 6.3(d) of the Plan shall be amended to read as follows:

    
    "Joint and Contingent Annuity Option. A Member may
    elect an annuity providing reduced equal monthly payments for his lifetime,
    with monthly payments to continue for the lifetime of his Beneficiary in an
    amount equal to 50% or 100% (effective January 1, 2008, 50%, 75%, or 100%)
    of the monthly amount payable during the Member's lifetime."

    

    11. Section 6.3(e) shall be amended to read as follows:

    
    "Level Income Option. If the Member's benefit is to commence prior
    to the Member's Normal Retirement Date, the Member may elect to convert the
    Retirement Benefit otherwise payable to him into a Retirement Benefit of an
    Actuarial Equivalent value of such amount so that with his expected Social
    Security benefit, he will receive, so far as possible, the same amount each
    year before and after such expected Social Security benefit commences. A
    Member whose Retirement Benefit commences before he reaches age 62 may elect
    the Level Income Option based on his Social Security benefit as of age 62 or
    his Social Security benefit as of age 65. A Member whose Retirement Benefit
    commences after he reaches age 62 may only elect the level income option
    based on his Social Security benefit as of age 65. Monthly payments shall
    terminate upon the death of the Member unless the Member elected the Level
    Income Option in conjunction with the Automatic Joint and Surviving Spouse
    Annuity or the Joint and Contingent Annuity Option described in Section
    6.3(d), in which event payments shall continue pursuant to such election if
    the Member's Spouse or Beneficiary, as applicable, survives the Member. A
    Member may not elect the Level Income Option if the Member's monthly
    payments under the Level Income Option would be equal to zero following the
    Member's attainment of age 62 or age 65, as applicable, nor may a Member
    elect the Level Income Option in conjunction with a 75% Joint and Contingent
    Annuity Option described in Section 6.3(d)."

  

12. Section 6.8(b)(2)(B) is amended to read as follows:

"the Member's Beneficiary; and"

13. The first sentence of Section 7.1 is amended to read as follows:

    "In the case of a Member who has no surviving Spouse and dies after
    having completed at least five Years of Creditable Service (effective
    January 1, 2008, at least three Years of Creditable Service) but prior to
    his Annuity Starting Date, his Retirement Benefit under the Cash Balance
    Formula shall be payable to his Beneficiary in a single lump-sum cash
    distribution as soon as practicable following the applicable date described
    in Section 7.2."

  

14. In Section 11.3(E), the phrase "five or more years of Creditable Service"
shall be replaced with "five or more years of Creditable Service (effective
January 1, 2008, three or more years of Creditable Service)," and the phrase "at
least five years of Creditable Service" shall be replaced with "at least five
years of Creditable Service (effective January 1, 2008, at least three years of
Creditable Service)." 

 

 

 

15. Section 13.5(a) shall be amended to read as follows:

    "For each Plan Year for which the Plan is top-heavy, or is a member of a
    top-heavy group, the provisions of Section 4.2(a) shall be changed to
    provide for vesting of a Member's Accrued Benefit in accordance with the
    following schedule:

  

	
    
        Completed Years of Creditable Service

      
    
    	
    
        

        Vested Percentage

      
    
    
	
    Less than 2 years

      
    
    	
    0%

      
    
    
	
    2 years but less than 3 years

      
    
    	
    40%

      
    
    
	
    3 years or more

      
    
    	
    100%

      
    
    

    Notwithstanding the foregoing, this subsection (a) shall not apply to the
    Accrued Benefit of any Member who is not credited with an Hour of Service
    while the Plan is top-heavy."

  

16. Section 13.5(b) shall be amended to read as follows:

    "In a Plan Year in which the Plan is no longer top-heavy or a member of a
    top-heavy group, the vesting provisions contained in Section 4.2(a) shall be
    restored."

    

    
IN WITNESS WHEREOF, the Board of Directors of Minerals Technologies Inc.
has authorized the undersigned to execute this amendment, on this 29th day of
November, 2007.

  
  	MINERALS TECHNOLOGIES INC.
	 	 
	BY:	_/s/ Kirk Forrest_________________
	 	Kirk Forrest
	 	General Counsel
	 	 
	BY 	/s/ Gordon Borteck______________
	 	Gordon Borteck
	 	Vice-President, Organization and Human ResourcesMINERALS TECHNOLOGIES INC

EXHIBIT 10.12

  

	
      

     

     

     

     

     

    
     

     

    MINERALS TECHNOLOGIES INC.

        SAVINGS AND INVESTMENT PLAN

        

        
         

         

         

         

         

         

         

         

         

         

         

         

         

         

         

         

         

         

         

         

      
    
    

  

 

 

 

MINERALS TECHNOLOGIES INC. SAVINGS AND INVESTMENT PLAN

WHEREAS, Minerals
Technologies Inc. (hereinafter referred to as the "Employer") heretofore adopted
the Minerals Technologies Inc. Savings and Investment Plan (hereinafter referred
to as the "Plan") for the benefit of its eligible Employees, 

WHEREAS, the Employer reserved the right to amend the
Plan; and

WHEREAS, the Employer has previously amended the Plan to
comply with changes permitted or required by the Economic Growth and Tax Relief
Reconciliation Act of 2001 and technical corrections made by the Job Creation
and Worker Assistance Act of 2002, and the Employer now wishes to amend and
restate the Plan in order to reflect certain changes in law and other
regulations and guidance published by the Internal Revenue Service and to add or
modify certain administrative provisions; and

WHEREAS, it is intended that the Plan is to continue to
be a qualified profit sharing plan under Section 401(a) and 501(a) of the
Internal Revenue Code for the exclusive benefit of the Participants and their
Beneficiaries; and

WHEREAS, it is intended that the cash or deferral
arrangement forming part of the Plan is to continue to qualify under Section
401(k) of the Internal Revenue Code;

NOW, THEREFORE, the Plan is hereby amended by restating
the Plan, effective as of September 14, 2007, except where the provisions of the
Plan (or the requirements of applicable law) shall otherwise specifically
provide, in its entirety as follows:

 

TABLE OF CONTENTS

 

ARTICLE ONE--DEFINITIONS

1.1 Account

1.2 Administrator

1.3 Beneficiary

1.4 Break in Service

1.5 Code

1.6 Compensation

1.7 Disability

1.8 Effective Date

1.9 Employee

1.10 Employer

1.11 Employment Date

1.12 Fail-Safe Contribution

1.13 Highly-Compensated Employee

1.14 Hour of Service

1.15 Leased Employee

1.16 Nonhighly-Compensated Employee

1.17 Normal Retirement Date

1.18 Participant

1.19 Plan

1.20 Plan Year

1.21 Trust

1.22 Trustee

1.23 Valuation Date

1.24 Year of Service or Service

 

ARTICLE TWO--SERVICE DEFINITIONS AND RULES

2.1 Year of Service

2.2 Service in Excluded Job Classifications or with Related Companies

 

ARTICLE THREE--PLAN PARTICIPATION

3.1 Participation

3.2 Re-employment of Former Participant

3.3 Change in Eligibility Status

3.4 Compliance with USERRA

 

ARTICLE FOUR--ELECTIVE DEFERRALS, EMPLOYER CONTRIBUTIONS,
ROLLOVERS AND TRANSFERS FROM OTHER PLANS

4.1 Elective Deferrals

4.2 Employer Contributions

4.3 Rollovers and Transfers of Funds from Other Plans

4.4 Timing of Contributions

4.5 Employee After-Tax Contributions

 

ARTICLE FIVE--ACCOUNTING RULES

5.1 Investment of Accounts and Accounting Rules

5.2 Voting Rights

5.3 Plan Expenses

 

ARTICLE SIX--VESTING AND RETIREMENT BENEFITS

6.1 Vesting

6.2 Forfeiture of Nonvested Balance

 

ARTICLE SEVEN--MANNER AND TIME OF DISTRIBUTING BENEFITS

7.1 Manner of Payment

7.2 Time of Commencement of Benefit Payments

7.3 Distributions Upon Death

7.4 Furnishing Information

7.5 Minimum Distribution Requirements

7.6 Designation of Beneficiary

7.7 Eligible Rollover Distributions

 

ARTICLE EIGHT--LOANS AND IN-SERVICE WITHDRAWALS

8.1 Loans

8.2 Hardship Distributions

8.3 Withdrawals After Age 591⁄2

8.4 Non-Hardship Withdrawals

 

ARTICLE NINE--ADMINISTRATION OF THE PLAN

9.1 Plan Administration

9.2 Claims Procedure

9.3 Trust Agreement

 

ARTICLE TEN--SPECIAL COMPLIANCE PROVISIONS

10.1 Distribution of Excess Elective Deferrals

10.2 Limitations on 401(k) Contributions

10.3 Nondiscrimination Test for Employer Matching Contributions and After-Tax
Contributions

 

ARTICLE ELEVEN--LIMITATION ON ANNUAL ADDITIONS

11.1 Rules and Definitions

 

ARTICLE TWELVE--AMENDMENT AND TERMINATION

12.1 Amendment

12.2 Termination of the Plan

 

ARTICLE THIRTEEN--TOP-HEAVY PROVISIONS

13.1 Applicability

13.2 Definitions

13.3 Allocation of Employer Contributions and Forfeitures for a
      Top-Heavy Plan Year

    
  

13.4 Vesting

 

ARTICLE FOURTEEN--MISCELLANEOUS PROVISIONS

14.1 Plan Does Not Affect Employment

14.2 Successor to the Employer

14.3 Repayments to the Employer

14.4 Benefits not Assignable

14.5 Merger of Plans

14.6 Investment Experience not a Forfeiture

14.7 Construction

14.8 Governing Documents

14.9 Governing Law

14.10 Headings

14.11 Counterparts

14.12 Location of Participant or Beneficiary Unknown

14.13 Distribution to Minor or Legally Incapacitated

 

 

 

ARTICLE ONE--DEFINITIONS

 

For purposes of the Plan, unless the context or an
alternative definition specified within another Article provides otherwise, the
following words and phrases shall have the definitions provided:

 

1.1 "ACCOUNT" shall mean the individual
    bookkeeping accounts maintained for a Participant under the Plan which shall
    record (a) the Participant's allocations of Employer contributions and
    forfeitures, if applicable, (b) amounts of Compensation deferred to the Plan
    pursuant to the Participant's election, (c) any amounts rolled over or
    transferred to this Plan under Section 4.3 from another qualified retirement
    plan, or from another qualified plan in connection with a plan merger, (d)
    any after-tax contributions made to the Plan, and (e) the allocation of
    Trust investment experience.

    

     

    
    1.2 "ADMINISTRATOR" shall mean the Plan
    Administrator appointed from time to time in accordance with the provisions
    of Article Nine hereof.

    

     

    
    1.3 "BENEFICIARY" shall mean any person, trust,
    organization, or estate entitled to receive payment under the terms of the
    Plan upon the death of a Participant.

    

     

    
    1.4 "BREAK IN SERVICE" shall have the meaning set
    forth in Article Two.

    

     

    
    1.5 "CODE" shall mean the Internal Revenue Code
    of 1986, as amended from time to time.

    

     

    
    1.6 "COMPENSATION" shall mean the sum of (1) the
    base pay and bonuses received by a Participant from the Employer in a Plan
    Year, plus any overtime pay, premium pay, call-in/call-back pay and vacation
    pay, but excluding contest awards, remuneration received in the form of
    salary continuance or lump sum severance while no longer providing services
    to the Employer and other similar payments and (2) any amount which is
    contributed by the Employer on behalf of the Participant pursuant to a
    salary reduction agreement and which is not includable in gross income under
    Section 125, 132(f)(4), 402(e)(3), 402(h) or 403(b) of the Code.

    

  

  
    Notwithstanding the foregoing, for purposes of applying
    the limitations described in Section 11.1, and for purposes of defining
    compensation under Section 1.13 and Article Thirteen of the Plan,
    Compensation shall mean compensation within the meaning of Section 415(c)(3)
    of the Code and the regulations thereunder, and shall include any elective
    amounts that are not includible in the gross income of the Employee by
    reason of 125, 132(f)(4), 402(e)(3), 402(h) or 403(b) of the Code.

  

 

 

 

              
            
          
        
      
    
  

  
    In addition to other applicable limitations set forth in
    the Plan, and notwithstanding any other provision of the Plan to the
    contrary, the annual Compensation of each Participant taken into account for
    any purpose under the Plan shall not exceed the amount in effect under
    Section 401(a)(17) of the Code ($225,000 for 2007) as adjusted annually by
    the Secretary of the Treasury or his delegate for increases in the cost of
    living in accordance with Section 401(a)(17)(B) of the Code. The
    cost-of-living adjustment in effect for a calendar year applies to any
    period, not exceeding twelve (12) months, over which Compensation is
    determined (determination period) beginning in such calendar year. If a
    determination period consists of fewer than twelve (12) months, the annual
    compensation limit shall be multiplied by a fraction, the numerator of which
    is the number of months in the determination period, and the denominator of
    which is twelve (12).

  

                

              
            
          
        
      
    
    1.7 "DISABILITY" shall mean any medically
    determinable physical or mental impairment which causes the Participant to
    be eligible for benefits under the Employer's long-term disability insurance
    program.

    
    1.8 "EFFECTIVE DATE" shall mean the effective
    date of this restatement, September 14, 2007, on and after which it
    supersedes the terms of the existing Plan document, except where the
    provisions of the Plan (or the requirements of applicable law) shall
    otherwise specifically provide. The rights of any Participant who terminated
    employment with the Employer prior to the applicable date shall be
    established under the terms of the Plan and Trust as in effect at the time
    of the Participant's termination from employment, unless the Participant
    subsequently returns to employment with the Employer, or unless otherwise
    provided under the terms of the Plan. Rights of spouses and Beneficiaries of
    such Participants shall also be governed by those documents.

    

     

    
    1.9 "EMPLOYEE" shall mean a common law employee
    of the Employer or of any other employer required to be aggregated with such
    Employer under Section 414(b), 414(c), 414(m) or 414(o) of the Code. The
    term "Employee" shall also include any Leased Employee deemed to be an
    Employee of any Employer described in the previous paragraph as provided in
    Section 414(n) or 414(o) of the Code.

    

     

    
    1.10 "EMPLOYER" shall mean Minerals Technologies
    Inc. and any subsidiary or affiliate which is a member of its "related
    group" (as defined in Section 2.5) which has adopted the Plan (a
    "Participating Affiliate"), and shall include any successor(s) thereto which
    adopt this Plan. Any such subsidiary or affiliate of Minerals Technologies
    Inc. may adopt the Plan with the approval of its board of directors (or
    noncorporate counterpart) subject to the approval of Minerals Technologies
    Inc. The Participating Affiliates are listed in Appendix A to the Plan. The
    provisions of this Plan shall apply equally to each Participating Affiliate
    and its Employees except as specifically set forth in the Plan; provided,
    however, notwithstanding any other provision of this Plan, the amount and
    timing of contributions under Article 4 to be made by any Employer which is
    a Participating Affiliate shall be made subject to the approval of Minerals
    Technologies Inc. For purposes hereof, each Participating Affiliate shall be
    deemed to have appointed Minerals Technologies Inc. as its agent to act on
    its behalf in all matters relating to the 

     

     

  

 

    administration, amendment, termination of the Plan and
    the investment of the assets of the Plan. For purposes of the Code and ERISA,
    the Plan as maintained by Minerals Technologies Inc. and the Participating
    Affiliates shall constitute a single plan rather than a separate plan of
    each Participating Affiliate. All assets in the Trust shall be available to
    pay benefits to all Participants and their Beneficiaries.

    

  

 

    
    1.11 "EMPLOYMENT DATE" shall mean the first date
    as of which an Employee is credited with an Hour of Service, provided that,
    in the case of a Break in Service, the Employment Date shall be the first
    date thereafter as of which an Employee is credited with an Hour of Service.

    

     

    
    1.12 "FAIL-SAFE CONTRIBUTION" shall mean a
    qualified nonelective contribution which is a contribution (other than
    matching contributions or Qualified Matching Contributions (within the
    meaning of Section 10.2)) made by the Employer and allocated to
    Participants' accounts that the Participants may not elect to receive in
    cash until distribution from the Plan; that are nonforfeitable when made;
    and that are distributable only in accordance with the distribution
    provisions under Section 401(k) of the Code and the regulations promulgated
    thereunder.

    
    

     

    1.13 "HIGHLY-COMPENSATED EMPLOYEE" shall mean any
    Employee of the Employer who:

    

    (a) was a five percent (5%) owner of the Employer (as
        defined in Section 416(i)(1)) of the Code at any time during the
        "determination year" or "look-back year"; or

        
        

        
        (b) earned more than $100,000 of Compensation from
        the Employer during the "look-back year" and was in the top twenty
        percent (20%) of Employees by Compensation for such year. The $100,000
        amount shall be adjusted at the same time and in the same manner as
        under Section 415(d) of the Code, except that the base period is the
        calendar quarter ending September 30, 1996.

        

      
    
  

  
    
      
        For purposes of this Section, the "determination
        year" shall be the Plan Year for which a determination is being made as
        to whether an Employee is a Highly-Compensated Employee. The "look-back
        year" shall be the twelve (12) month period immediately preceding the
        "determination year." 

      

    

  

              
            
          
        
      
    
    
     

    1.14 "HOUR OF SERVICE" shall have the meaning set
    forth below:

    

    (a) An Hour of Service is each hour for which an
        Employee is paid, or entitled to payment, for the performance of duties
        for the Employer, during the applicable computation period.

        

        (b) An Hour of Service is each hour for which an
        Employee is paid, or entitled to payment, by the Employer on account of
        a period of time during which no duties are performed (irrespective of
        whether the employment relationship has terminated) due to vacation,

         

      
    
  

 

         holiday, illness, incapacity (including
        disability), layoff, jury duty, military duty, or leave of absence.
        Notwithstanding the preceding sentence,

        

        (i) No more than five hundred and one (501) Hours
            of Service shall be credited under this paragraph (b) to any
            Employee on account of any single continuous period during which the
            Employee performs no duties (whether or not such period occurs in a
            single computation period). Hours under this paragraph will be
            calculated and credited pursuant to Section 2530.200b-2 of the
            Department of Labor Regulations which is incorporated herein by
            reference.;

            

            (ii) An hour for which an Employee is directly or
            indirectly paid, or entitled to payment, on account of a period
            during which no duties are performed shall not be credited to the
            Employee if such payment is made or due under a plan maintained
            solely for the purpose of complying with applicable workmen's
            compensation, or unemployment compensation or disability insurance
            laws; and

            

            (iii) Hours of Service shall not be credited for
            a payment which solely reimburses an Employee for medical or
            medically related expenses incurred by the Employee.

            

          
        
        For purposes of this paragraph (b), a payment shall
        be deemed to be made by or due from the Employer regardless of whether
        such payment is made by or due from the Employer directly, or indirectly
        through, among others, a trust fund, or insurer, to which the Employer
        contributes or pays premiums and regardless of whether contributions
        made or due to the trust fund, insurer or other entity are for the
        benefit of particular Employees or are on behalf of a group of Employees
        in the aggregate.

        

        (c) An Hour of Service is each hour for which back
        pay, irrespective of mitigation of damages, is either awarded or agreed
        to by the Employer. The same Hours of Service shall not be credited both
        under paragraph (a) or paragraph (b), as the case may be, and under this
        paragraph (c). Thus, for example, an Employee who receives a back pay
        award following a determination that he was paid at an unlawful rate for
        Hours of Service previously credited shall not be entitled to additional
        credit for the same Hours of Service. Crediting of Hours of Service for
        back pay awarded or agreed to with respect to periods described in
        paragraph (b) shall be subject to the limitations set forth in that
        paragraph.

        

        (d) Hours of Service under this Section shall be
        determined under the terms of the Family and Medical Leave Act of 1993
        and the Uniformed Services Employment and Reemployment Rights Act of
        1994.

        

      
    
    
      
        In crediting Hours of Service for Employees who are
        paid on an hourly basis, the "actual" method shall be utilized. For this
        purpose, the "actual" method shall mean the determination of Hours of
        Service from records of hours worked and hours for which the Employer
        makes payment or for which payment is due from the Employer, subject to
        the limitations enumerated above. In crediting Hours of Service for
        Employees who are not paid on an hourly basis, the "weeks of employment"
        method shall be utilized. Under this method, an Employee shall be
        credited with ninety (90) Hours of Service for each bi-weekly pay period
        for which the Employee would be

         

      

    

  

      
         

         required to be credited with at least one (1)
        Hour of Service pursuant to the provisions enumerated above.

        

        Hours of Service shall be credited for employment
        with other members of an affiliated service group (under Section 414(m)
        of the Code, a controlled group of corporations (under Section 414(b) of
        the Code, or a group of trades or businesses under common control (under
        Section 414(c) of the Code) of which the Employer is a member, and any
        other entity required to be aggregated under Section 414(o) of the Code.

        

        Hours of Service shall be credited for any individual
        considered an Employee for purposes of this Plan under Section 414(n) or
        Section 414(o) of the Code.

      

    

    

     

    
    1.15 "LEASED EMPLOYEE" shall mean any person
    (other than an employee of the recipient) who, pursuant to an agreement
    between the recipient Employer and any other person or organization, has
    performed services for the recipient Employer (determined in accordance with
    Section 414(n)(6) of the Code) on a substantially full-time basis for a
    period of at least one (1) year and where such services are performed under
    the primary direction and control of the recipient Employer. A person shall
    not be considered a Leased Employee if the total number of Leased Employees
    does not exceed twenty percent (20%) of the Nonhighly-Compensated Employees
    employed by the recipient Employer, and if any such person is covered by a
    money purchase pension plan providing (a) a nonintegrated employer
    contribution rate of at least ten percent (10%) of compensation (within the
    meaning of Section 414(n)(5)(C) of the Code), (b) immediate participation,
    and (c) full and immediate vesting.

    

     

    
    1.16 "NONHIGHLY-COMPENSATED EMPLOYEE" shall mean
    an Employee of the Employer who is not a Highly-Compensated Employee.

    

     

    
    1.17 "NORMAL RETIREMENT DATE" shall mean the
    Participant's sixty-fifth (65th) birthday. The date on which the
    Participant attains age sixty-five (65) shall also be the Participant's
    Normal Retirement Age.

    

     

    
    1.18 "PARTICIPANT" shall mean any Employee who
    has satisfied the eligibility requirements of Article Three and who is
    participating in the Plan.

    

     

    
    1.19 "PLAN" shall mean the Minerals Technologies
    Inc. Savings and Investment Plan, as set forth herein and as may be amended
    from time to time.

    

     

    
    1.20 "PLAN YEAR" shall mean the twelve
    (12)-consecutive month period beginning January 1 and ending December 31.
    

     

     

     

  

 

    

    
     

    1.21 "TRUST" shall mean the Trust Agreement
    entered into between the Employer and the Trustee forming part of this Plan,
    together with any amendments thereto. "Trust Fund" shall mean any and all
    property held by the Trustee pursuant to the Trust Agreement, together with
    income therefrom.

    

     

    
    1.22 "TRUSTEE" shall mean the Trustee or Trustees
    appointed by the Employer, and any successors thereto.

    

     

    
    1.23 "VALUATION DATE" shall mean each day on
    which the New York Stock Exchange is open for business. 

    

     

    
    1.24 "YEAR OF SERVICE" or "SERVICE" shall have
    the meanings provided in Article Two of the Plan.

     

     

     

     

     

     

     

  

 

    

  

ARTICLE TWO--SERVICE DEFINITIONS AND RULES

 

Service is the period of employment credited under the Plan.
Definitions and special rules related to Service are as follows:

 

    2.1 YEAR OF SERVICE. An Employee shall be
    credited with a Year of Service if he completes at least one thousand
    (1,000) Hours of Service during the twelve (12)-consecutive month period
    commencing on his Employment Date. If an Employee fails to be credited with
    at least one thousand (1,000) Hours of Service during that computation
    period, he shall be credited with a Year of Service if he is credited with
    at least one thousand (1,000) Hours of Service in any Plan Year commencing
    on or after his Employment Date. For such purposes, an Employee shall be
    credited with a Year of Service on the day in which he completes the one
    thousandth (1,000th) Hour of Service in the applicable computation period.

    

     

    
    2.2 SERVICE IN EXCLUDED JOB CLASSIFICATIONS OR WITH
    RELATED COMPANIES

    
    

    (a) Service while a Member of an Ineligible
        Classification of Employees. An Employee who is a member of an
        ineligible classification of Employees shall not be eligible to
        participate in the Plan while a member of such ineligible
        classification. However, if any such Employee is transferred to an
        eligible classification, such Employee shall be credited with any Years
        of Service completed while a member of such an ineligible
        classification. For this purpose, an Employee shall be considered a
        member of an ineligible classification of Employees for any period
        during which he is employed in a job classification which is excluded
        from participating in the Plan under Section 3.1.

        

        (b) Service with Related Group Members.
        Subject to Section 2.1, for each Plan Year in which the Employer is a
        member of a "related group," as hereinafter defined, all Service of an
        Employee or Leased Employee (hereinafter collectively referred to as
        "Employee" solely for purposes of this Section 2.2(b)) with any one or
        more members of such related group shall be treated as employment by the
        Employer for purposes of determining the Employee's Years of Service.
        The transfer of employment by any such Employee to another member of the
        related group shall not be deemed to constitute a retirement or other
        termination of employment by the Employee for purposes of this Section,
        but the Employee shall be deemed to have continued in employment with
        the Employer for purposes of determining the Employee's Years of
        Service. For purposes of this subsection (b), "related group" shall mean
        the Employer and all corporations, trades or businesses (whether or not
        incorporated) which constitute a controlled group of corporations with
        the Employer, a group of trades or businesses under common control with
        the Employer, or an affiliated service group which includes the
        Employer, within the meaning of Section 414(b), Section 414(c), or
        Section 414(m), respectively, of the Code or any other entity required
        to be aggregated under Code Section 414(o).

         

         

      
    
  

 

        

        (c) Construction. This Section is
        included in the Plan to comply with the Code provisions regarding the
        crediting of Service, and not to extend any additional rights to
        Employees in ineligible classifications other than as required by the
        Code and regulations thereunder.

         

         

         

         

         

         

         

         

         

         

         

      
    
  

 

        

      
    
  

ARTICLE THREE--PLAN PARTICIPATION

 

    3.1 PARTICIPATION. All Employees participating in
    the Plan prior to the Plan's restatement shall continue to participate,
    subject to the terms hereof.

    
    

    Subject to the following provisions of
                this Section 3.1, each other Employee who is employed by
                the Employer shall become a Participant under the Plan as soon
                as administratively possible following his Employment Date.
                Provided, however, that any Employee (i) who is classified by
                the Employer as a temporary employee whose employment at the
                time of hire is expected to be limited to less than six (6)
                months or (ii) with respect to an individual who is hired on or
                after September 14, 2007, who is scheduled to complete less than
                twenty (20) Hours of Service per week, shall become a
                Participant as soon as administratively possible following his
                completion of a Year of Service.

                

                In no event, however, shall any Employee (or
                other individual) participate under the Plan while he is: (i)
                not employed by an Employer (except as provided in the next
                paragraph); (ii) included in a unit of Employees covered by a
                collective bargaining agreement between the Employer and the
                Employee representatives under which retirement benefits were
                the subject of good faith bargaining, unless the terms of such
                bargaining agreement expressly provides for the inclusion in the
                Plan; (iii) employed as an independent contractor on the payroll
                records of the Employer (regardless of any subsequent
                reclassification by the Employer, any governmental agency or
                court); (iv) employed as a consultant; (v) employed as a Leased
                Employee; or (vi) a nonresident alien who receives no earned
                income (within the meaning of Section 911(d)(2) of the Code)
                from the Employer which constitutes income from sources within
                the United States (within the meaning of Section 861(a)(3) of
                the Code).

                

              
            
          
        
      
    
    An Employee who is a United States citizen or a
    "Participating Resident Alien" (as defined below) and who is employed
    outside the continental limits of the United States in the service of a
    foreign subsidiary (including foreign subsidiaries of such foreign
    subsidiary) of the Employer shall be considered, for all purposes of this
    Plan, as employed in the service of the Employer, if (i) the Employer has
    entered into an agreement under Section 3121(l) of the Code which applies to
    the foreign subsidiary of which such person is an employee, and (ii)
    contributions under a funded plan of deferred compensation, whether or not a
    plan described in Section 401(a), 403(a), or 405(a) of the Code, are not
    provided by any other person with respect to the remuneration paid to such
    individual by the foreign subsidiary. A "Participating Resident Alien" means
    an Employee who is not a United States citizen but (i) has previously been
    employed as a lawful resident alien in the service of an Employer within the
    United States, (ii) was a Participant in the Plan during such employment,
    (iii) is currently employed at a location outside both the person's country
    of citizenship and the United States, and (iv) continues to maintain his
    eligibility for employment as a lawful resident alien within the United
    States.

    

    
    3.2 RE-EMPLOYMENT OF FORMER PARTICIPANT. A
    Participant whose participation ceased because of termination of employment
    with the Employer shall resume participating upon his reemployment as an
    eligible Employee. Such an individual shall be eligible to commence 

     

     

     

  

 

    elective deferrals (within the meaning of Section 4.1) as
    soon as administratively possible following his return to employment.

    

     

    
    3.3 CHANGE IN ELIGIBILITY STATUS. In the event a
    Participant is no longer a member of an eligible class of Employees and he
    becomes ineligible to participate, such Employee shall resume participating
    upon his return to an eligible class of Employees. Such an individual shall
    be eligible to commence elective deferrals (within the meaning of Section
    4.1) as soon as administratively possible following his return to an
    eligible class of Employees.

    

    In the event an Employee who is not a member of an
    eligible class of Employees becomes a member of an eligible class, such
    Employee shall participate upon becoming a member of an eligible class of
    Employees, if such Employee has otherwise satisfied the eligibility
    requirements of Section 3.1 and would have otherwise previously become a
    Participant. Such an individual shall be eligible to commence elective
    deferrals (within the meaning of Section 4.1) as soon as administratively
    possible following his becoming an eligible Employee.

    
    

    
    3.4 COMPLIANCE WITH USERRA. Notwithstanding any
    provision of this Plan to the contrary, Participants shall receive service
    credit and be eligible to make deferrals and receive Employer contributions
    with respect to periods of qualified military service (within the meaning of
    Section 414(u)(5) of the Code) in accordance with Section 414(u) of the
    Code.

     

     

     

     

     

     

     

     

  

 

    
    

  

ARTICLE FOUR--ELECTIVE DEFERRALS, EMPLOYER CONTRIBUTIONS, AND

ROLLOVERS AND TRANSFERS FROM OTHER PLANS

 

    4.1 ELECTIVE DEFERRALS

    
    

    (a) Elections. A Participant may elect
        to defer a portion of his Compensation for a Plan Year on a pre-tax
        basis. The amount of a Participant's Compensation contributed in
        accordance with the Participant's election shall be withheld by the
        Employer from the Participant's Compensation on a ratable basis
        throughout the Plan Year. For purposes of making elective deferrals
        pursuant to this Section, only Compensation earned while eligible to
        make such deferrals shall be considered. The amount deferred on behalf
        of each Participant shall be contributed by the Employer to the Plan and
        allocated to the portion of the Participant's Account consisting of
        pre-tax contributions.

        

        Except as otherwise provided in Section 4.1(e) below,
        each Participant may elect to contribute from two percent (2%) to twenty
        percent (20%) of such Participant's Compensation as a pre-tax
        contribution, provided, however, that the Administrator may specify a
        limit lower than twenty percent (20%) with respect to Highly-Compensated
        Employees to ensure compliance with the limitations set forth in Section
        10.2.

        

        Notwithstanding the foregoing, any Employee who, upon
        first becoming eligible to participate in the Plan pursuant to Section
        3.1 on or after September 14, 2007, fails to affirmatively make a
        deferral election (including an election to contribute zero percent (0%)
        of his Compensation to the Plan) within the time prescribed by the
        Administrator, shall be deemed to have elected to defer two percent (2%)
        of his Compensation as a pre-tax contribution ("deemed elective
        deferral"). The Administrator shall provide to each Employee a notice of
        his right to receive the amount of the deemed elective deferral in cash
        and his right to increase or decrease his rate of elective deferrals.
        The Administrator shall also provide each such Employee a reasonable
        period to exercise such right before the date on which the deemed
        elective deferral becomes effective.

        

        (b) Changes in Election. A Participant
        may prospectively elect to change or revoke the amount (or percentage)
        of his elective deferrals during the Plan Year by filing a written
        election with the Administrator, or via such other method as permitted
        by the Administrator.

        

        (c) Limitations on Deferrals. Except to
        the extent permitted under Section 4.1(e), no Participant shall be
        permitted to make elective deferrals during any taxable year in excess
        of the dollar limitation contained in Section 402(g) of the Code in
        effect for such taxable year.

        

        (d) Administrative Rules. All elections
        made under this Section 4.1, including the amount and frequency of
        deferrals, shall be subject to the rules established by the
        Administrator which shall be consistently applied and which may be
        changed from time to time.

         

         

         

      
    
  

 

        

        (e) Catch-up Contributions. 
        Notwithstanding any limitation otherwise specified in this Section 4.1,
        all Participants who are eligible to make elective deferrals under
        Section 4.1(a) and who have attained age fifty (50) before the close of
        the taxable year shall be eligible to make catch-up contributions in
        accordance with, and subject to the limitations of, Section 414(v) of
        the Code.

        

        Such catch-up contributions shall not be taken into
        account for purposes of the provisions of the Plan implementing the
        required limitations of Section 402(g) and 415 of the Code. The Plan
        shall not be treated as failing to satisfy the requirements of the Plan
        implementing the requirements of Section 401(k)(3), 401(k)(11),
        401(k)(12), 402A, 410(b), or 416 of the Code, as applicable, by reason
        of the making of such catch-up contributions. 

        

         

      
    
    
    4.2 EMPLOYER CONTRIBUTIONS For each payroll
    period, the Employer may contribute to the Plan, on behalf of each
    Participant, a discretionary matching contribution equal to a percentage (as
    determined by Minerals Technologies Inc.'s board of directors) of the
    elective deferrals, including any catch-up contribution made pursuant to
    Section 4.1 and/or after-tax contributions under Section 4.5 made by each
    such Participant, provided, however, that the amount of such Employer
    matching contribution for any Participant in a Plan Year shall not exceed
    four percent (4%) of the Participant's Compensation for the period during
    which elective deferrals, including any catch-up contributions, and/or
    after-tax contributions are made by the Participant. Minerals Technologies
    Inc.'s board of directors may also determine to increase, suspend or reduce
    its contributions under this Section for any Plan Year or any portion
    thereof. Allocations under this Section shall be subject to the special
    rules of Section 13.3 in any Plan Year in which the Plan is a Top-Heavy Plan
    (as defined in Section 13.2(b)).

    

    Employer matching contributions may be made by the
    Employer in cash or in the form of Minerals Technologies Inc. common stock.
    Such contributions shall be allocated to the Account of each eligible
    Participant as of the last day of the period for which the contributions are
    made, or as soon as administratively possible thereafter.

    

     

    
    4.3 ROLLOVERS AND TRANSFERS OF FUNDS FROM OTHER
    PLANS. With the approval of the Administrator, there may be paid to the
    Trustee amounts which have been held under the following types of plans: 

    

    (1) a qualified plan described in Section 401(a) or
        403(a) of the Code; excluding after-tax employee contributions and
        excluding designated Roth contributions under Section 402A of the Code;

        

        (2) an annuity contract described in Section 403(b)
        of the Code, excluding after-tax employee contributions;

         

         

         

         

         

      
    
  

 

        

        (3) an eligible plan under Section 457(b) of the Code
        which is maintained by a state, political subdivision of a state, or any
        agency or instrumentality of a state or political subdivision of a
        state, excluding after-tax employee contributions; and

        

        (4) an individual retirement account which was used
        solely as a conduit from a qualified plan described in Section 401(a) of
        the Code.

        

      
    
    Any amounts so transferred on behalf of a Participant
    shall be nonforfeitable and shall be maintained under a separate Plan
    account, to be paid in addition to amounts otherwise payable under this
    Plan. The amount of any such account shall be equal to the fair market value
    of such account as adjusted for income, expenses, gains, losses, and
    withdrawals attributable thereto.

    

     

    
    4.4 TIMING OF CONTRIBUTIONS. Employer
    contributions shall be made to the Plan no later than the time prescribed by
    law for filing the Employer's federal income tax return (including
    extensions) for its taxable year ending with or within the Plan Year.
    Elective deferrals under Section 4.1 or after-tax Employee contributions
    under Section 4.5 shall be paid to the Plan as soon as administratively
    possible, but no later than the fifteenth (15th) business day of
    the month following the month in which such deferrals would have been
    payable to the Participant in cash, or such later date as permitted or
    prescribed by the Department of Labor.

    

     

    
    4.5 EMPLOYEE AFTER-TAX CONTRIBUTIONS. A
    Participant may elect to contribute from two percent (2%) to twenty percent
    (20%) of his Compensation to the Plan on an after-tax basis, in accordance
    with procedures and limitations established by the Administrator which shall
    be consistently applied and which may be changed from time to time,
    provided, however, that the Administrator may specify a limit lower than
    twenty percent (20%) with respect to Highly-Compensated Employees to ensure
    compliance with the limitations set forth in Section 10.3. A Participant may
    prospectively elect to change or revoke the amount (or percentage) of his
    after-tax contributions during the Plan Year in accordance with procedures
    established by the Administrator. 
    Any after-tax contributions made by a Participant
    shall be contributed by the Employer to the Plan and allocated to the
    portion of the Participant's Account consisting of after-tax contributions.

    

  

  
    The total elective deferrals made under Section 4.1(a)
    plus any after-tax contributions made by a Participant for a Plan Year may
    not exceed twenty percent (20%) of the Participant's Compensation.

     

     

     

  

  
     

  

    

                

                

              
            
          
        
      
    
  

ARTICLE FIVE--ACCOUNTING RULES

 

    5.1 INVESTMENT OF ACCOUNTS AND ACCOUNTING RULES

    
    

    (a) Investment Funds. The Committee
        shall identify from time to the time the investment funds in which the
        Plan's assets may be invested. Such funds shall include an "Employer
        Stock Fund," which is primarily invested in Minerals Technologies Inc.
        common stock, with a portion being invested in cash and cash equivalents
        for liquidity purposes. Participants' Accounts shall generally be
        invested pursuant to the direction of the Participants. However, any
        Company matching contributions made on behalf of a Participant shall
        initially be invested in the Employer Stock Fund.

        

        (b) Participant Direction of Investments.
        Each Participant (including, for this purpose, any former Employee,
        Beneficiary, or "alternate payee" (within the meaning of Section 14.4
        below) with an Account balance) may direct how his Account, or such
        portion thereof which is subject to his investment direction, is to be
        invested among the available investment funds in the percentage
        multiples established by the Administrator. In the event a Participant
        fails to make an investment election, with respect to all or any portion
        of his Account subject to his investment direction, the Trustee shall
        invest all or such portion of his Account in the investment fund to be
        designated by the Administrator. A Participant may change his investment
        election, with respect to future contributions and, if applicable,
        forfeitures, and/or amounts previously accumulated in the Participant's
        Account in accordance with procedures established by the Administrator.
        Any such change in a Participant's investment election shall be
        effective at such time as may be prescribed by the Administrator.
        However, where it deems appropriate, and subject to the requirements of
        applicable law, the Administrator may decline to implement the
        investment election, or otherwise limit the frequency by which a
        Participant may direct the investment of his Account. If the Plan's recordkeeper or investments are changed, the Administrator may apply
        such administrative rules and procedures as are necessary to provide for
        the transfer of records and/or assets, including without limitation, the
        suspension of Participant's investment directions, withdrawals and
        distributions for such period of time as is necessary, and the transfer
        of Participants' Accounts to designated funds or an interest bearing
        account until such change has been completed.

        
        

        
        (c) Allocation of Investment Experience.
        As of each Valuation Date, the investment fund(s) of the Trust shall
        be valued at fair market value, and the income, loss, appreciation and
        depreciation (realized and unrealized), and any paid expenses of the
        Trust attributable to such fund shall be apportioned among Participants'
        Accounts within the fund based upon the value of each Account within the
        fund as of the preceding Valuation Date. 

        
        

        
        (d) Manner and Time of Debiting Distributions.
        For any Participant who is entitled to receive a distribution from
        his Account, such distribution shall be made in accordance with the
        provisions of Article 7. The amount distributed shall be based upon the
        fair market value of the Participant's Account as of the Valuation Date
        preceding the distribution.

         

         

      
    
  

 

        

      
      
      5.2 VOTING RIGHTS. Any securities held in the investment funds,
      including the Employer Stock Fund and the Pfizer Inc Stock Fund, shall be
      voted in the manner provided in the Trust Agreement.

      
      5.3 PLAN EXPENSES. The costs of administering the Plan and
      other Plan expenses shall be paid by the Trust in a nondiscriminatory
      manner specified by the Administrator, but if not paid by the Trust shall
      be paid by the Employer.

      

       

       

       

       

       

       

       

       

       

       

       

    
  

 

    
  

ARTICLE SIX--VESTING

 

    6.1 VESTING. A Participant shall at all times
    have a nonforfeitable (vested) right to his Account derived from elective
    deferrals (within the meaning of Section 4.1), after-tax contributions
    (under Section 4.5), Employer matching contributions (under Section 4.2(a)),
    Employer Fail-Safe Contributions, "Qualified Matching Contributions" (within
    the meaning of Section 10.2), and rollovers or transfers from other plans,
    as adjusted for investment experience. 

    
    

    6.2 FORFEITURE OF NONVESTED BALANCE. If a portion
    of a Participant's Account is not vested for any reason, for example, if an
    excess contribution is made by the Employer, the nonvested portion of the
    Participant's Account shall be forfeited as soon as administratively
    practical thereafter. The amount forfeited shall be used to pay Plan
    administrative expenses and/or to reduce Employer contributions under the
    Plan.

     

     

     

     

     

     

     

     

     

     

  

 

  

ARTICLE SEVEN--MANNER AND TIME OF DISTRIBUTING BENEFITS

 

    7.1 MANNER OF PAYMENT. The Participant's Account
    shall be distributed to the Participant (or to the Participant's Beneficiary
    in the event of the Participant's death) in a single lump-sum payment.

    

    To the extent the Participant's Account is invested in
    the Employer Stock Fund (within the meaning of Section 5.1(a)) or in the
    "Pfizer Stock Fund," consisting of Pfizer Inc common stock and cash and cash
    equivalents for liquidity purposes, the Participant (or Beneficiary in the
    event of the Participant's death) may elect to receive such portion of his
    Account in a single payment in (i) cash, or (ii) whole shares of stock, with
    any fractional shares and the cash and cash equivalent portions of the
    underlying stock fund being distributed in cash.

    

  

  
    Notwithstanding the foregoing, but subject to the
    following provisions of this Article Seven, if the Participant's Account
    exceeds $5,000, a Participant may also elect to receive partial payments of
    his Account.

  

                 

              
            
          
        
      
    
    
    7.2 TIME OF COMMENCEMENT OF BENEFIT PAYMENTS.
    If the Participant's Account exceeds $5,000, the Participant can elect
    to receive a distribution in accordance with Section 7.1 at any time after
    the Participant's separation from service with the Employer.

    
    

    If the Participant so elects, distribution of the
    Participant's Account shall be made or commence no later than the sixtieth
    (60) day after the later of the close of the Plan Year in which: (a) the
    Participant attains age sixty-five (65) (or Normal Retirement Date, if
    earlier), (b) occurs the tenth (10th) anniversary of the year in
    which the Participant commenced participation in the Plan, or (c) the
    Participant severs employment with the Employer. 

    

    In no event, however, shall distribution of the
    Participant's Account be made later than the April 1st following the end of
    the calendar year in which the Participant attains age seventy and one-half
    (701⁄2), or, except for a Participant who is a five percent (5%) owner of the
    Employer (within the meaning of Section 401(a)(9)(C) of the Code), if later,
    the April 1st following the calendar year in which the Participant separates
    from service with the Employer (the "required beginning date").

    

    Notwithstanding the foregoing, if the Participant's
    Account does not exceed $5,000, the Participant's entire Account shall
    normally be distributed to the Participant (or, in the event of the
    Participant's death, his Beneficiary) in a lump-sum payment as soon as
    administratively practicable following the date the Participant retires,
    dies or otherwise terminates from employment. However, in the event of a
    mandatory distribution to a Participant whose Account is greater than
    $1,000, if the Participant does not elect to have such automatic
    distribution paid directly to an eligible retirement plan specified by the
    Participant in a direct rollover or to receive the distribution directly in
    accordance with Section 7.1, then the Plan Administrator shall pay the
    distribution in a direct rollover to an individual retirement plan
    designated by the Plan Administrator.

     

     

  

 

  

  
    Notwithstanding the foregoing, upon the Administrator's
    actual knowledge of a pending divorce or divorce proceeding, or the issuance
    (or possible issuance) of a domestic relations order regarding a
    Participant's Account, such Account shall be frozen to prevent the
    Participant from taking withdrawals, loans or distributions against the
    portion of the Account, subject to, or potentially subject to, the domestic
    relations order. This freeze shall be removed promptly following the
    qualification of the domestic relations order in accordance with the Plan's
    procedures or at such earlier time as the Administrator may reasonably
    determine.

  

                
                 

              
            
          
        
      
    
    7.3 DISTRIBUTIONS UPON DEATH

    
    

  

  
    
      
        (a) If a Participant dies before receiving a complete
        distribution of his Account, then upon the Participant's death, the
        Participant's remaining Account shall be distributed to the
        Participant's Beneficiary in accordance with the provisions of this
        Section 7.3.

        

        (b) If the Beneficiary is not the Participant's
        surviving spouse, then the Beneficiary must take a complete distribution
        of the Participant's Account by December 31 of the calendar year
        containing the fifth anniversary of the Participant's death.

        

        (c) If the Beneficiary is the Participant's surviving
        spouse, then the Beneficiary must take a complete distribution of the
        Participant's Account by the latest of (i) December 31 of the calendar
        year containing the fifth anniversary of the Participant's death, (ii)
        December 31 of the calendar year following the year of the Participant's
        death, and (iii) December 31 of the calendar year in which the
        Participant would have attained age seventy and one-half (701⁄2).

      

    

  

         

      
    
    
    7.4 FURNISHING INFORMATION. Prior to the payment
    of any benefit under the Plan, each Participant or Beneficiary may be
    required to complete such administrative forms and furnish such proof as may
    be deemed necessary or appropriate by the Employer, Administrator, and/or
    Trustee.

    

    
     

    7.5 MINIMUM DISTRIBUTION REQUIREMENTS.

    
    

    (a) General Rules.

        
        

        (1) Effective Date. The
            provisions of this Article will apply for purposes of determining
            required minimum distributions. Unless otherwise specified, the
            provisions of this Article will apply to calendar years beginning
            after December 31, 2002.

            

            (2) Precedence. The
            requirements of this Article will take precedence over any
            inconsistent provisions of the Plan; provided, however, that this
            Article shall not 

             

             

          
        
      
    
  

 

             

            require the Plan to provide any form of benefit,
            or any option, not otherwise provided under Section 7.1, Section
            7.2, or Section 7.3.

            

            (3) Requirements of Treasury Regulations
            Incorporated. All distributions required under
            this Article will be determined and made in accordance with the
            Treasury regulations under Section 401(a)(9) of the Code and the
            minimum distribution incidental benefit requirement of Section
            401(a)(9)(G) of the Code..

            

          
        
        (b) Time and Manner of Distribution

        
        

        (1) Required Beginning Date. The
            Participant's entire interest will be distributed, or begin to be
            distributed, to the Participant no later than the Participant's
            required beginning date.

            

            (2) Death of Participant Before Required
            Distributions Begin. If the Participant dies before required
            distributions begin, the Participant's entire interest will be
            distributed, or begin to be distributed, no later than as follows:

            

            (A) If the Participant's surviving spouse is
                the Participant's sole designated Beneficiary, distributions to
                the surviving spouse will begin by December 31 of the calendar
                year immediately following the calendar year in which the
                Participant died, or by December 31 of the calendar year in
                which the Participant would have attained age 701⁄2, if later.

                

                (B) If the Participant's surviving spouse is
                not the Participant's sole designated Beneficiary, and if
                distribution is to be made over the life or over a period
                certain not exceeding the life expectancy of the designated
                Beneficiary (if permitted under Section 7.3 of the Plan),
                distribution to the designated Beneficiary will begin by
                December 31 of the calendar year immediately following the
                calendar year in which the Participant died.

                

                (C) If there is no designated Beneficiary as
                of September 30 of the year following the year of the
                Participant's death, or if the Participant's Beneficiary so
                elects, the Participant's entire interest will be distributed by
                December 31 of the calendar year containing the fifth
                anniversary of the Participant's death.

                

                (D) If the Participant's surviving spouse is
                the Participant's sole designated Beneficiary and the surviving
                spouse dies after the Participant but before distributions to
                the surviving spouse begin, this Section 7.5(b), other than
                Section 7.5(b)(2)(A), will apply as if the surviving spouse were
                the Participant.

                

              
            
            For purposes of Sections 7.5(b) and 7.5(d),
            unless Section 7.5(b)(2)(D) applies, distributions are considered to
            begin on the Participant's required beginning date. If Section
            7.5(b)(2)(D) applies, distributions are considered to begin on the
            date 

             

             

          
        
      
    
  

 

            distributions are required to begin to the
            surviving spouse under Section 7.5(b)(2)(A). If distributions under
            an annuity purchased from an insurance company irrevocably commence
            to the Participant before the Participant's required beginning date
            (or to the Participant's surviving spouse before the date
            distributions are required to begin to the surviving spouse under
            Section 7.5(b)(2)(A)), the date distributions are considered to
            begin is the date distributions actually commence.

            

            (3) Forms of Distribution. Unless the
            Participant's interest is distributed in the form of an annuity
            purchased from an insurance company or in a single sum on or before
            the required beginning date, as of the first distribution calendar
            year, distributions will be made in accordance with Sections 7.5(c)
            and (d). If the Participant's interest is distributed in the form of
            an annuity purchased from an insurance company, distributions thereunder will be made in accordance with the requirements of
            Section 401(a)(9) of the Code and the Treasury regulations.

            

          
        
        (c) Required Minimum Distributions During
        Participant's Lifetime.

        
        

        (1) Amount of Required Minimum Distribution
            for Each Distribution Calendar Year. During the Participant's
            lifetime, the minimum amount that will be distributed for each
            distribution calendar year is the lesser of: 

            

            (A) the quotient obtained by dividing the
                Participant's Account balance by the distribution period in the
                Uniform Lifetime Table set forth in Section 1.401(a)(9)-9,
                Q&A-2, of the Treasury regulations, using the Participant's age
                as of the Participant's birthday in the distribution calendar
                year; or

                

                (B) if the Participant's sole designated
                Beneficiary for the distribution calendar year is the
                Participant's spouse, the quotient obtained by dividing the
                Participant's Account balance by the number in the Joint and
                Last Survivor Table set forth in Section 1.401(a)(9)-9, Q&A-3,
                of the Treasury regulations, using the Participant's and
                spouse's attained ages as of the Participant's and spouse's
                birthdays in the distribution calendar year.

                

              
            
            (2) Lifetime Required Minimum Distributions
            Continue Through Year of Participant's Death. Required minimum
            distributions will be determined under this Section 7.5(c) beginning
            with the first distribution calendar year and up to and including
            the distribution calendar year that includes the Participant's date
            of death. 

            

          
        
        (d) Required Minimum Distributions After
        Participant's Death.

        
        

        (1) Death On or After Date Required
            Distributions Begin.

            
            

            (A) Participant Survived by Designated
                Beneficiary. Subject to the provisions of this Article, if
                the Participant dies on or after the date required

                 

                 

              
            
          
        
      
    
  

 

                 distributions begin and there is a
                designated Beneficiary, the minimum amount that will be
                distributed for each distribution calendar year after the year
                of the Participant's death is the quotient obtained by dividing
                the Participant's Account balance by the longer of the remaining
                life expectancy of the Participant or the remaining life
                expectancy of the Participant's designated Beneficiary,
                determined as follows:

                
                

                (i) The Participant's remaining life
                    expectancy is calculated using the age of the Participant in
                    the year of death, reduced by one for each subsequent year.

                    
                    

                    
                    (ii) If the Participant's surviving
                    spouse is the Participant's sole designated Beneficiary, the
                    remaining life expectancy of the surviving spouse is
                    calculated for each distribution calendar year after the
                    year of the Participant's death using the surviving spouse's
                    age as of the spouse's birthday in that year. For
                    distribution calendar years after the year of the surviving
                    spouse's death, the remaining life expectancy of the
                    surviving spouse is calculated using the age of the
                    surviving spouse as of the spouse's birthday in the calendar
                    year of the spouse's death, reduced by one for each
                    subsequent calendar year.

                    
                    

                    
                    (iii) If the Participant's surviving
                    spouse is not the Participant's sole designated Beneficiary,
                    the designated Beneficiary's remaining life expectancy is
                    calculated using the age of the Beneficiary in the year
                    following the year of the Participant's death, reduced by
                    one for each subsequent year.

                    
                    

                  
                
                
                (B) No Designated Beneficiary. If the
                Participant dies on or after the date distributions begin and
                there is no designated Beneficiary as of September 30 of the
                year after the year of the Participant's death, the minimum
                amount that will be distributed for each distribution calendar
                year after the year of the Participant's death is the quotient
                obtained by dividing the Participant's Account balance by the
                Participant's remaining life expectancy calculated using the age
                of the Participant in the year of death, reduced by one for each
                subsequent year.

                
                

              
            
            
            (2) Death Before Date Required Distributions
            Begin.

            
            

            (A) Participant Survived by Designated
                Beneficiary. If the Participant dies before the date
                distributions begin and there is a designated Beneficiary, the
                minimum amount that will be distributed for each distribution
                calendar year after the year of the Participant's death is the
                quotient obtained by dividing the Participant's Account balance
                by the remaining life expectancy of the Participant's designated
                Beneficiary, determined as provided in Section 7.5(d)(1).

                 

                 

                 

              
            
          
        
      
    
  

 

                
                

                
                (B) No Designated Beneficiary. If the
                Participant dies before the date distributions begin and there
                is no designated Beneficiary as of September 30 of the year
                following the year of the Participant's death, distribution of
                the Participant's entire interest will be completed by December
                31 of the calendar year containing the fifth anniversary of the
                Participant's death.

                
                

                
                (C) Death of Surviving Spouse Before
                Distributions to Surviving Spouse Are Required to Begin. If
                the Participant dies before the date distributions begin, the
                Participant's surviving spouse is the Participant's sole
                designated Beneficiary, and the surviving spouse dies before
                distributions are required to begin to the surviving spouse
                under Section 7.5(b)(2)(A), this Section 7.5(d) will apply as if
                the surviving spouse were the Participant.

                
                

              
            
          
        
        
        (e) Definitions.

        
        

        (1) Designated Beneficiary. The individual
            who is designated as the Beneficiary under Section 7.6 of the Plan
            and is the designated Beneficiary under Section 401(a)(9) of the
            Code and Section 1.401(a)(9)-1, Q&A-4, of the Treasury regulations.

            
            

            
            (2) Distribution Calendar Year. A calendar
            year for which a minimum distribution is required. For distributions
            beginning before the Participant's death, the first distribution
            calendar year is the calendar year immediately preceding the
            calendar year which contains the Participant's required beginning
            date. For distributions beginning after the Participant's death, the
            first distribution calendar year is the calendar year in which
            distributions are required to begin under Section 7.5(b)(2). The
            required minimum distribution for the Participant's first
            distribution calendar year will be made on or before the
            Participant's required beginning date. The required minimum
            distribution for other distribution calendar years, including the
            required minimum distribution for the distribution calendar year in
            which the Participant's required beginning date occurs, will be made
            on or before December 31 of that distribution calendar year.

            
            

            
            (3) Life Expectancy. Life expectancy as
            computed by use of the Single Life Table in Section 1.401(a)(9)-9,
            Q&A-1, of the Treasury regulations.

            
            

            
            (4) Participant's Account Balance. The
            Account balance as of the last valuation date in the calendar year
            immediately preceding the distribution calendar year (valuation
            calendar year) increased by the amount of any contributions made and
            allocated or forfeitures allocated to the Account balance as of
            dates in the valuation calendar year after the valuation date and
            decreased by distributions made in the valuation calendar year after
            the valuation date. The Account balance for the valuation calendar
            year includes any amounts rolled over or transferred to 

             

             

            the Plan either in the valuation calendar year or
            in the distribution calendar year if distributed or transferred in
            the valuation calendar year.

            
            

          
        
      
    
  

  
    
      
        
          
            (5) Required Beginning Date. The date specified in Section
            7.2 of the Plan.

          

        

      

    

  

 

    7.6 DESIGNATION OF BENEFICIARY. Each Participant
    shall designate a Beneficiary in a manner acceptable to the Administrator to
    receive payment of any death benefit payable hereunder if such Beneficiary
    should survive the Participant. However, no Participant who is married shall
    be permitted to designate a Beneficiary other than his spouse unless the
    Participant's spouse has signed a written consent, in a form acceptable to
    the Administrator and witnessed by a notary public, which provides for the
    designation of an alternate Beneficiary.

    

    Subject to the above, Beneficiary
                designations may include primary and contingent Beneficiaries,
                and may be revoked or amended at any time in similar manner or
                form, and the most recent designation shall govern. A
                designation of a Beneficiary made by a Participant shall cease
                to be effective upon his marriage or remarriage. In addition, a
                spousal Beneficiary designation shall cease to be effective upon
                written notification to the Administrator of the divorce of the
                Participant and such spouse. In the absence of an effective
                designation of Beneficiary, or if no designated Beneficiary is
                surviving as of the date of the Participant's death, any death
                benefit shall be paid to the surviving spouse of the
                Participant, or, if no surviving spouse, to the Participant's
                estate. Notification to Participants of the death benefits under
                the Plan and the method of designating a Beneficiary shall be
                given at the time and in the manner provided by regulations and
                rulings under the Code.

                

                In the event a Beneficiary survives the
                Participant, but dies before receipt of all payments due that
                Beneficiary hereunder, any benefits remaining to be paid to the
                Beneficiary shall be paid to the Beneficiary's estate.

                

                 

              
            
          
        
      
    
    
    7.7 ELIGIBLE ROLLOVER DISTRIBUTIONS. 
    Notwithstanding the foregoing provisions of this Article Seven, the
    provisions of this Section 7.7 shall apply to distributions made under the
    Plan after December 31, 2001.

    

    (a) A "distributee" (as hereinafter defined) may
        elect, at the time and in the manner prescribed by the Administrator, to
        have any portion of an "eligible rollover distribution" (as hereinafter
        defined) paid directly to an eligible retirement plan specified by the distributee in a direct rollover.

        

        (b) Definitions:

        

        (i) Eligible Rollover Distribution.
            An eligible rollover distribution is 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 and 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 hardship distribution
            described in Section 8.2. A portion of a distribution shall not fail
            to be an eligible rollover distribution merely because the portion
            consists of after-tax employee contributions which are not
            includible in gross income. However, such portion may be transferred
            only to an individual retirement account or annuity described in
            Section 408(a) or (b) of the Code (or described in Section 408A of
            the Code for "designated Roth contributions" (within the meaning of
            Section 402A of the Code)), or to a qualified defined contribution
            plan described in Section 401(a) or 403(a) of the Code that agrees
            to separately account for amounts so transferred, including
            separately accounting for the portion of such distribution which is
            includible in gross income and the portion of such distribution
            which is not so includible and, if applicable, as required under
            Section 402A of the Code.

            

            (ii) Eligible Retirement Plan. An
            eligible retirement plan is an individual retirement account
            described in Section 408(a) of the Code, an individual retirement
            annuity described in Section 408(b) of 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 and an eligible plan under Section 457(b)
            of the Code which is maintained by a state, political subdivision of
            a state, or any agency or instrumentality of a state or political
            subdivision of a state and which agrees to separately account for
            amounts transferred into such plan from this Plan, that accepts the
            distributee's eligible rollover distribution. The definition of
            eligible retirement plan shall also apply in the case of a
            distribution to a surviving spouse, or to a spouse or former spouse
            who is the alternate payee under a qualified domestic relations
            order, as defined in Section 414(p) of the Code.

            

            If any portion of an eligible rollover
            distribution is attributable to payments or distributions from a
            designated Roth account, an eligible retirement plan with respect to
            such portion shall include only another designated Roth account of
            the individual from whose account the payments or distributions were
            made, or a Roth IRA of such individual.

            

            (iii) Distributee. A distributee
            includes an Employee or former Employee. In addition, the Employee's
            or former Employee's surviving spouse, the Employee's or former
            Employee's spouse or former spouse who is an alternate payee under a
            qualified domestic relations order, as defined in Section 414(p) of
            the Code, and any other Beneficiary of the Participant are distributees.

            

            (iv) Direct Rollover. A direct
            rollover is a payment by the Plan to the eligible retirement plan
            specified by the distributee.

             

             

          
        
      
    
  

 

            

          
        
        (c) Notwithstanding the foregoing, if the value of
        the Participant's Account exceeds $5,000 and becomes distributable to
        the Participant on an immediate lump sum basis prior to the
        Participant's attaining age 65, no such distribution shall be made
        unless the Participant consents to the distribution, in accordance with
        rules and procedures established on a uniform and nondiscriminatory
        basis by the Administrator, no more than ninety (90) (effective January
        1, 2008, one hundred eighty (180)) days and no less than thirty (30)
        days prior to the date of distribution. If a distribution is one to
        which Sections 401(a)(11) and 417 of the Code do not apply, such
        distribution may commence less than thirty (30) days after the notice
        required under Section 1.411(a)-11(c) of the Income Tax Regulations is
        given, provided that:

        

        (i) the Administrator clearly informs the
            Participant that the Participant has a right to a period of at least
            thirty (30) days after receiving the notice to consider the decision
            of whether or not to elect a distribution (and, if applicable, a
            particular distribution option), and

            

            (ii) the Participant, after receiving the notice,
            affirmatively elects a distribution.

            

             

             

             

             

             

             

             

             

          
        
      
    
  

 

             

             

          
        
      
    
  

ARTICLE EIGHT--LOANS AND IN-SERVICE WITHDRAWALS

 

8.1 LOANS

    
    

    (a) Permissible Amount and Procedures. 
        Upon the application of a Participant, the Administrator may, in
        accordance with a uniform and nondiscriminatory policy, direct the
        Trustee to grant a loan to the Participant, which loan shall be secured
        by the Participant's Account balance. The Participant's signature shall
        be required on a promissory note. The rate of interest on any such loan
        shall be equal to the "Prime Rate" (as reported in The Wall Street
        Journal on the date the loan is initiated) plus one percent 1%.
        Participant loans shall be treated as segregated investments, and
        interest repayments shall be credited only to the Participant's Account.
        Only Participants who are Employees or "parties in interest" (within the
        meaning of Section 3(14) of the Employee Retirement Income Security Act
        of 1974) are permitted to initiate loans. A Participant can have only
        one loan outstanding at any time, including any defaulted loans.

        

        (b) Limitation on Amount of Loans. A
        Participant's loan shall not exceed the lesser of:

        

        (1) $50,000, which amount shall be reduced by the
            highest outstanding loan balance during the preceding twelve
            (12)-month period; or

            

            (2) one-half (1⁄2) of the value of the
            Participant's Account, determined as of the Valuation Date preceding
            the date of the Participant's loan.

            

          
        
      
    
  

  
    
      
                Any loan must be repaid within five (5) years
                (or such longer period permitted by law), unless made for the
                purpose of acquiring the primary residence of the Participant,
                in which case such loan may be repaid over a longer period of
                time not to exceed fifteen (15) years. The repayment of any loan
                must be made in at least quarterly installments of principal and
                interest; provided, however, that this requirement shall not
                apply for a period, not longer than one year, or such longer
                period as may apply under Section 414(u) of the Code, that a
                Participant is on a leave of absence ("Leave"), either without
                pay from the Employer or at a rate of pay (after income and
                employment tax withholding) that is less than the amount of the
                installment payments required under the terms of the loan.
                However, the loan must be repaid by the latest date permitted
                under Sections 72(p)(2)(B) and 414(u) of the Code and the
                installments due after the Leave ends (or, unless Section 414(u)
                of the Code applies, if earlier, upon the expiration of the
                first year of the Leave) must not be less than those required
                under the terms of the original loan.

                

    

  

              
            
          
        
      
    
    
      
    If a Participant defaults on any outstanding loan, the
    unpaid balance, and any interest due thereon, shall become due and payable
    in accordance with the terms of the underlying promissory note; provided,
    however, that such foreclosure on the promissory note and attachment of
    security shall not occur until a distributable event occurs in accordance
    with the provisions of Article Seven.

      

    

    

  

  
    
      
                If a Participant terminates employment while
                any loan balance is outstanding, the unpaid balance, and any
                interest due thereon, shall become due and payable in accordance
                with the terms of the 

                 

                 

                

    

  

  
    
      
                 

                underlying promissory note. If such amount is
                not paid to the Plan, it shall be charged against the amounts
                that are otherwise payable to the Participant or the
                Participant's Beneficiary under the provisions of the Plan.

                

                In the case of a Participant who has loans
                outstanding from other plans of the Employer (or a member of the
                Employer's related group (within the meaning of Section 2.5(b)),
                the loans shall be aggregated for purposes of applying the
                limits of Section 72(p) of the Code.

                

    

  

 

              
            
          
        
      
    
    
    8.2 HARDSHIP DISTRIBUTIONS. A Participant who is
    an Employee may, in the case of a financial hardship resulting from a proven
    immediate and heavy financial need, receive a cash distribution not to
    exceed the lesser of (i) the value of the Participant's Account, without
    regard to earnings received on his elective deferrals (within the meaning of
    Section 4.1) after December 31, 1988, and without regard to any Fail-Safe
    Contributions or Qualified Matching Contributions (within the meaning of
    Section 10.2 below), or (ii) the amount necessary to satisfy the financial
    hardship. The amount of any such immediate and heavy financial need may
    include any amounts necessary to pay Federal, state or local income taxes
    reasonably anticipated to result from the distribution. Such distribution
    shall be made in accordance with nondiscriminatory and objective standards
    consistently applied by the Administrator. 

    

  

  
                Hardship distributions under this Section
                shall be deemed to be the result of an immediate and heavy
                financial need if such distribution is to: (a) pay expenses for
                (or to obtain) medical care that would be deductible under
                Section 213(d) of the Code determined without regard to whether
                the expenses exceed seven and one-half percent (7.5%) of
                adjusted gross income; (b) purchase the principal residence of
                the Participant (excluding mortgage payments); (c) pay tuition
                and related educational fees for the next twelve (12) months of
                post-secondary education for the Participant, Participant's
                spouse, or any of the Participant's dependents (as defined in
                Section 152 of the Code, and without regard to Section
                152(b)(1), (b)(2) and (d)(1)(B) of the Code); (d) prevent the
                eviction of the Participant from his principal residence or
                foreclosure on the Participant's principal residence; (e) pay
                funeral or burial expenses for the Participant's deceased
                parent, spouse, children or dependents (as defined in Section
                152 of the Code, and without regard to Section 152(d)(1)(B) of
                the Code); or (f) repair damage to the Participant's principal
                residence that would qualify for a casualty loss deduction under
                Section 165 of the Code (determined without regard to whether
                the loss exceeds ten percent (10%) of adjusted gross income).
                Distributions paid pursuant to this Section shall be deemed to
                be made as of the Valuation Date immediately preceding the
                hardship distribution, and the Participant's Account shall be
                reduced accordingly.

                

              
            
          
        
      
    
    A distribution shall not be treated as necessary to
    satisfy an immediate and heavy financial need of a Participant to the extent
    the amount of the distribution is in excess of the amount required to
    relieve the financial need or to the extent the need may be satisfied from
    other resources that are reasonably available to the Participant. This
    determination shall generally be made on the basis of all relevant facts and
    circumstances. For purposes of this paragraph, the Participant's resources
    shall be deemed to include those assets of the Participant's spouse and
    minor children that are reasonably available to the Participant. A
    distribution generally shall be treated as necessary to satisfy a financial
    need if the Administrator relies upon the Participant's written 

     

  

 

    representation, unless the Administrator has actual
    knowledge to the contrary, that the need cannot reasonably be relieved: 

    

    (1) Through reimbursement or compensation by
        insurance or otherwise;

        

        (2) By liquidation of the Participant's assets;

        

        (3) By cessation of elective deferrals (within the
        meaning of Section 4.1) and any after-tax contributions under Section
        4.5; or

        
        

        
        (4) By other distributions or nontaxable (at the time
        of the loan) loans from plans maintained by the Employer or by any other
        employer, or by borrowing from commercial sources on reasonable
        commercial terms, in an amount sufficient to satisfy the need. 

        

      
    
  

  
    
      
                For purposes of the foregoing paragraph, a
                need cannot reasonably be relieved by one of the actions listed
                above if the effect would be to increase the amount of the need.
                In making such determination, the Administrator may rely upon
                the Participant's written representation to such effect, unless
                the Administrator has actual knowledge to the contrary.

                

    

  

                 

              
            
          
        
      
    
    
    8.3 WITHDRAWALS AFTER AGE 591⁄2. After attaining
    age fifty-nine and one-half (591⁄2), a Participant who is an Employee may, by
    giving notice to the Administrator, withdraw from the Plan a sum (a) not in
    excess of the credit balance of his Account and (b) not less than such
    minimum amount as the Administrator may establish from time to time to
    facilitate administration of the Plan. Any such withdrawals shall be made in
    accordance with nondiscriminatory and objective standards consistently
    applied by the Administrator. To the extent the Participant's Account is
    invested in the Employer Stock Fund (within the meaning of Section 5.1(a))
    or the Pfizer Stock Fund (within the meaning of Section 7.1), the withdrawal
    may be made in the form of whole shares of stock, with any fractional shares
    and the cash and cash equivalent portions of the underlying stock fund being
    withdrawn in cash.

    

     

    
    8.4 NON-HARDSHIP WITHDRAWALS. Before attaining
    age fifty-nine and one-half (591⁄2), a Participant who is an Employee may, by
    notice to the Administrator, withdraw from the Plan a sum (a) not in excess
    of the credit balance of the Participant's Account attributable to any
    after-tax contributions made to the Plan, including earnings thereon, any
    rollover contributions including earnings thereon, and any Employer matching
    contributions that have been held in his Account for at least two (2) years
    from the date of contribution (or, provided at least five (5) years have
    elapsed since his initial date of Plan participation, any Employer matching
    contributions credited to his Account), including earnings thereon, and (b)
    not less than such minimum amount as the Administrator may establish from
    time to time to facilitate administration of the Plan. Any such withdrawals
    shall be made in cash and in accordance with nondiscriminatory and objective
    standards consistently applied by the Administrator. 

    

     

  

 

     

  

ARTICLE NINE --ADMINISTRATION OF THE PLAN

 

9.1 PLAN ADMINISTRATION. The Plan shall be
    administered by a Savings and Investment Plan Committee (the "Committee")
    consisting of at least three (3) persons, who may be Participants of the
    Plan, appointed by the Board of Directors of Minerals Technologies Inc. (the
    "Board"). Members of the Committee shall serve at the pleasure of the Board,
    and may resign at any time upon due notice in writing. The Committee shall
    act by a majority of its members, and the secretary thereof shall certify
    its action to the Trustee.

    

    The Committee shall be the Plan Administrator and shall
    have fiduciary responsibility under the Employee Retirement Income Security
    Act of 1974, as amended, for the general operation of the Plan, and the
    exclusive authority and responsibility (i) to appoint and remove or select
    investment managers, if any, the Trustee or any successor Trustee under the
    Plan and the Trust and pooled investment vehicles and investment advisers
    thereof, (ii) to direct the segregation of all or a portion of the assets of
    the Trust into an investment manager account or accounts at any time and
    from time to time and to add or to withdraw assets from such investment
    manager account or accounts as it deems desirable or appropriate, (iii) to
    direct the Trustee to enter into a group annuity contract or contracts, in
    such form and on such terms as may be approved by the Committee to provide
    for annuity settlements under the Plan, and (iv) to direct the Trustee to
    enter into one (1) or more investment contracts with one or more insurance
    companies or financial institutions. The Committee may appoint or employ,
    and compensate such persons as it deems necessary to render advice with
    respect to any responsibility of the Committee under the Plan. The Committee
    may allocate to any one (1) or more of its members any responsibility that
    it may have under the Plan and may designate any other person or persons to
    carry out any responsibility of the Committee under the Plan. Any person may
    serve in more than one fiduciary capacity with respect to the Plan.

    

    The Committee shall administer the Plan in accordance
    with its terms and shall have all powers necessary to carry out the
    provisions of the Plan not otherwise reserved to the Employer, the Board or
    the Trustee. The Committee shall have total and complete discretion to
    interpret the Plan and to determine all questions arising in the
    administration, interpretation and application of the Plan, including the
    power to construe and interpret the Plan; to decide questions relating to an
    individual's eligibility to participate in the Plan and/or eligibility for
    benefits and the amounts thereof; to have fact finder discretionary
    authority to decide all facts relevant to the determination of eligibility
    for benefits or participation; to make such adjustments as it deems
    necessary or desirable to correct any arithmetical or accounting errors; to
    determine the amount, form, and timing of any distribution to be made
    hereunder; to approve and enforce any loan hereunder including the repayment
    thereof; to resolve any conflict among Plan terms; and to establish any
    limitations and procedures relating to Participant investment allocations,
    distributions, and other Plan activities necessary to ensure compliance with
    the Employer's insider trading policy and applicable securities laws. The
    Committee shall have the discretion to make factual determinations relating
    to the amount and manner of any allocations and distributions of benefits.
    In making its decisions, the Committee shall be entitled to, but need not
    rely upon, information supplied by a Participant, Beneficiary or
    representative thereof. The Committee may correct any defect, supply any
    omission or reconcile any inconsistency in such manner and to such extent as 

     

  

 

    it shall deem necessary to carry out the purposes of the
    Plan. The Committee's decision in such matters shall be binding and
    conclusive as to all parties.

    The Committee is authorized to make such uniform rules as
    may be necessary to carry out the provisions of the Plan and shall
    determine, in its sole discretion, any questions arising in the
    administration, interpretation and application of the Plan, which
    determination shall be conclusive and binding on all parties. In exercising
    such powers and authorities, the Committee shall at all times exercise good
    faith, apply standards of uniform application, and refrain from arbitrary
    action. The Committee is also authorized to adopt such uniform rules as it
    may consider necessary or desirable for the conduct of its affairs and the
    transaction of its business, including, but not limited to, the power on the
    part of the Committee to act without formally convening and to provide that
    action of the Committee may be expressed by written instruments signed by a
    majority of its members. It shall elect a secretary, who need not be a
    member of the Committee, who shall record the minutes of its proceedings and
    shall perform such other duties as may from time to time be assigned to him.
    The Committee may retain legal counsel (who may be the General Counsel or an
    Assistant General Counsel of Minerals Technologies Inc.) when and if it be
    found necessary or convenient to do so, and may also employ such other
    assistants, clerical or otherwise, as may be needed, and expend such monies
    as may be required for the proper performance of its work. Such costs and
    expenses shall be borne by the Employer.

    

    To the extent permitted by law, the Committee, the Board,
    the Employer, and their respective officers, shall not be liable for the
    directions, actions or omissions of any agent, legal or other counsel,
    accountant or any other expert who has agreed to the performance of
    administrative duties in connection with the Plan or Trust. The Committee,
    the Board, and the Employer, and their respective officers, shall be
    entitled to rely upon all certificates, reports, data, statistics, analyses
    and opinions which may be made by such experts and shall be fully protected
    in respect to any action taken or suffered by them in good faith reliance
    upon any such certificates, reports, data, statistics, analyses or opinions;
    all actions so taken or suffered shall be conclusive upon each of them and
    upon all persons having or claiming to have any interest in or under the
    Plan.

    

    Each member of the Committee shall be indemnified by the
    Employer against all costs and expenses (including counsel fees, but
    excluding any amount representing a settlement unless such settlement be
    approved by the Employer) reasonably incurred by or imposed upon him in
    connection with or resulting from any action, suit or proceeding to which he
    may be made a party by reason of his being or having been a member of the
    Committee (whether or not he continues to be a member of the Committee at
    the time when such cost or expense is incurred or imposed), to the full
    extent of the law. The foregoing rights of indemnification shall not be
    exclusive of other rights to which any member of the Committee may be
    entitled as a matter of law, contract or otherwise.

    

    
     

    9.2 CLAIMS PROCEDURE

    

    (a) Pursuant to procedures established by the
        Administrator, claims for benefits under the Plan made by a Participant
        or Beneficiary (the "claimant") must be submitted in writing to the Plan
        Representative identified by the Administrator. Approved claims shall be

         

      
    
  

 

         processed and instructions issued to the
        Trustee or custodian authorizing payment as claimed.

        

        If a claim is denied in whole or in part, the Plan
        Representative shall notify the claimant within ninety (90) days after
        receipt of the claim (or within one hundred eighty (180) days, if
        special circumstances require an extension of time for processing the
        claim, and provided written notice indicating the special circumstances
        and the date by which a final decision is expected to be rendered is
        given to the claimant within the initial ninety (90) day period).

        

        The notice of the denial of the claim shall be
        written in a manner calculated to be understood by the claimant and
        shall set forth the following:

        

        (i) the specific reason or reasons for the denial
            of the claim;

            

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

            

            (iii) a description of any additional material or
            information necessary to perfect the claim, and an explanation of
            why such material or information is necessary;

            

            (iv) a statement that any appeal of the denial
            must be made by giving to the Administrator, within sixty (60) days
            after receipt of the denial of the claim, written notice of such
            appeal, such notice to include a full description of the pertinent
            issues and basis of the claim; and

            

            (v) a statement about the claimant's right to
            bring civil action under Section 502(a) under ERISA if the claim is
            denied on review.

            

          
        
        Upon denial of a claim in whole or part, the claimant
        (or his duly authorized representative) shall have the right to submit a
        written request to the Administrator for a full and fair review of the
        denied claim, to be permitted to review documents (free of charge)
        pertinent to the denial, and to submit issues and comments in writing.
        Any appeal of the denial must be given to the Administrator within the
        period of time prescribed under (a)(iv) above. If the claimant (or his
        duly authorized representative) fails to appeal the denial to the
        Administrator within the prescribed time, the Administrator's adverse
        determination shall be final, binding and conclusive.

        

        The Administrator may hold a hearing or otherwise
        ascertain such facts as it deems necessary and shall render a decision
        which shall be binding upon both parties. The Administrator shall advise
        the claimant of the results of the review within sixty (60) days after
        receipt of the written request for the review, unless special
        circumstances require an extension of time for processing, in which case
        a decision shall be rendered as soon as possible but not later than one
        hundred twenty (120) days after receipt of the request for review. If
        such extension of time is required, written notice of the extension
        shall be furnished to the claimant prior to the commencement of the
        extension. The decision of  

         

      
    
  

 

         

         

        the review shall be written in a manner
        calculated to be understood by the claimant and shall include specific
        reasons for the decision, specific references to the pertinent Plan
        provisions on which the decision is based, the claimant's right to
        receive free of charge upon written request, reasonable access to and
        copies of, all Plan documents, records, and other information relevant
        to the claim, and a statement about the claimant's right to bring a
        civil action under Section 502(a) of ERISA. The decision of the
        Administrator shall be final, binding and conclusive. Employees must
        pursue all claims procedures described herein before seeking any other
        legal recourse with respect to Plan benefits. In addition, any lawsuit
        must be filed within six months from the date of the denied appeal.

        

        
         

      
    
    9.3 TRUST AGREEMENT. The Trust Agreement entered
    into by and between the Employer and the Trustee, including any supplements
    or amendments thereto, or any successor Trust Agreement, is incorporated by
    reference herein.

    

     

     

     

     

     

     

     

     

  

 

  

ARTICLE TEN--SPECIAL COMPLIANCE PROVISIONS

 

    10.1 DISTRIBUTION OF EXCESS ELECTIVE DEFERRALS.
    Notwithstanding any other provision of the Plan, "Excess Elective Deferrals"
    (as defined below) (and income or loss allocable thereto, including all
    earnings, expenses and appreciation or depreciation in value, whether or not
    realized) shall be distributed no later than each April 15 to Participants
    who claim Excess Elective Deferrals for the preceding calendar year. 

    

  

  
                "Excess Elective Deferrals" shall mean the
                amount of Elective Deferrals (as defined below) for a calendar
                year that the Participant designates to the Plan pursuant to the
                following procedure. The Participant's designation shall be
                submitted to the Administrator in writing no later than March 1;
                shall specify the Participant's Excess Elective Deferrals for
                the preceding calendar year; and shall be accompanied by the
                Participant's written statement that if the Excess Elective
                Deferrals is not distributed, it will, when added to amounts
                deferred under other plans or arrangements described in Section
                401(k), 408(k) or 403(b) of the Code, exceed the limit imposed
                on the Participant by Section 402(g) of the Code for the year in
                which the deferral occurred. Excess Elective Deferrals shall
                mean those Elective Deferrals that are includible in a
                Participant's gross income under Section 402(g) of the Code to
                the extent such Participant's Elective Deferrals for a taxable
                year exceed the dollar limitation under such Code section.

                

                An Excess Elective Deferral, and the income
                or loss allocable thereto, may be distributed before the end of
                the calendar year in which the Elective Deferrals were made. A
                Participant who has an Excess Elective Deferral for a taxable
                year, taking into account only his Elective Deferrals under the
                Plan or any other plans of the Employer (including any member of
                the Employer's related group (within the meaning of Section
                2.5(b)), shall be deemed to have designated the entire amount of
                such Excess Elective Deferral.

                

              
            
          
        
      
    
    Excess Elective Deferrals shall be adjusted for any
    income or loss up to the date of distribution. For purposes of this Section
    10.1, whenever reference is made to the income or loss allocable to an
    Excess Elective Deferral, such income or loss shall be determined as
    follows. The income or loss allocable to Excess Elective Deferrals allocated
    to each Participant is the sum of: (i) income or loss allocable to the
    Participant's deferred amounts for the Plan Year multiplied by a fraction,
    the numerator of which is the Excess Elective Deferrals made on behalf of
    the Participant for the Plan Year, and the denominator of which is the sum
    of the Participant's Account balances attributable to the Participant's
    Elective Deferrals on the last day of the Plan Year; and (ii) ten percent
    (10%) of the amount determined under (i) multiplied by the number of whole
    calendar months between the end of the Plan Year and the date of
    distribution, counting the month of distribution if distribution occurs
    after the fifteenth (15th) of such month.

    

  

  
                For purposes of this Article Ten, "Elective
                Deferrals" shall mean any Employer contributions made to the
                Plan at the election of the Participant, in lieu of cash
                compensation, and shall include contributions made pursuant to a
                salary deferral reduction agreement or other deferral mechanism.
                With respect to any taxable year, a Participant's Elective
                Deferrals is the sum of all Employer contributions made on
                behalf of such Participant pursuant to an election to defer
                under any qualified cash or deferred arrangement described in
                Section 401(k) of the Code, any salary

                 

                

  
                 

                 

                 reduction simplified employee pension
                described in Section 408(k)(6) of the Code, and SIMPLE IRA Plan
                described in Section 408(p) of the Code, any eligible deferred
                compensation plan under Section 457 of the Code, any plan
                described under Section 501(c)(18) of the Code, and any Employer
                contributions made on behalf of a Participant for the purchase
                of an annuity contract under Section 403(b) of the Code pursuant
                to a salary reduction agreement. Elective Deferrals shall not
                include any deferrals properly distributed as excess annual
                additions.

                

                
                 

              
            
          
        
      
    
    10.2 LIMITATIONS ON 401(k) CONTRIBUTIONS

    
    

    (a) Actual Deferral Percentage Test ("ADP
        Test"). Amounts contributed as elective deferrals under Section
        4.1(a) and, if so elected by the Employer, "Qualified Matching
        Contributions" (as defined below) and any Fail-Safe Contributions made
        under this Section, are considered to be amounts deferred pursuant to
        Section 401(k) of the Code. For purposes of this Section, these amounts
        are referred to as the "deferred amounts." For purposes of the "actual
        deferral percentage test" described below, (i) such deferred amounts
        must be made before the last day of the twelve (12)-month period
        immediately following the Plan Year to which the contributions relate,
        and (ii) the deferred amounts relate to Compensation that either (A)
        would have been received by the Participant in the Plan Year but for the
        Participant's election to make deferrals, or (B) is attributable to
        services performed by the Participant in the Plan Year and, but for the
        Participant's election to make deferrals, would have been received by
        the Participant within two and one-half (21⁄2) months after the close of
        the Plan Year. The Employer shall maintain records sufficient to
        demonstrate satisfaction of the actual deferral percentage test and the
        deferred amounts used in such test.

        
        

        
        For purposes of this Section, "Qualified Matching
        Contributions" shall mean matching contributions which are subject to
        the distribution and nonforfeitability requirements under Section 401(k)
        of the Code and satisfy Section 1.401(k)-2(a)(6) of the IRS Treasury
        regulations.

        

        As of the last day of each Plan Year, the deferred
        amounts for the Participants who are Highly-Compensated Employees for
        the Plan Year shall satisfy either of the following tests:

        

        (1) The actual deferral percentage for the
            eligible Participants who are Highly-Compensated Employees for the
            Plan Year shall not exceed the actual deferral percentage for
            eligible Participants who are Nonhighly-Compensated Employees for
            the prior Plan Year multiplied by 1.25; or

            

            (2) The actual deferral percentage for eligible
            Participants who are Highly-Compensated Employees for the Plan Year
            shall not exceed the actual deferral percentage of eligible
            Participants who are Nonhighly-Compensated Employees for the prior
            Plan Year multiplied by two (2), provided that the actual deferral
            percentage for eligible Participants who are Highly-Compensated
            Employees for the Plan Year does not exceed the actual deferral
            percentage for eligible

             

             

          
        
      
    
  

 

             

             Participants who are Nonhighly-Compensated
            Employees for the prior Plan Year by more than two (2) percentage
            points.

            

          
        
        For purposes of the above tests, the "actual deferral
        percentage" shall mean for a specified group of Participants for a Plan
        Year, the average of the ratios (calculated separately for each
        Participant in such group) of (1) deferred amounts actually paid over to
        the Trust on behalf of such Participant for the Plan Year to (2) the
        Participant's "414(s) Compensation." For purposes hereof, 414(s)
        Compensation means compensation that satisfies the nondiscrimination
        requirements of Section 414(s) of the Code and the regulations thereunder. An Employer may limit the period taken into account for
        determining 414(s) Compensation to that part of the Plan Year or
        calendar year in which an Employee was a Participant in the component of
        the Plan being tested. The period used to determine 414(s) Compensation
        must be applied uniformly to all Participants for the Plan Year.
        Deferred amounts on behalf of any Participant shall include (1) any
        Elective Deferrals made pursuant to the Participant's deferral election
        (including Excess Elective Deferrals of Highly Compensated Employees),
        but excluding (a) Excess Elective Deferrals of Nonhighly-Compensated
        Employees that arise solely from Elective Deferrals made under the Plan
        or plans of this Employer and (b) Elective Deferrals that are taken into
        account in the actual contribution percentage test (provided the actual
        deferral percentage test is satisfied both with and without exclusion of
        these Elective Deferrals); and (2) Qualified Matching Contributions and
        Fail-Safe Contributions. For purposes of computing Actual Deferral
        Percentages, an Employee who would be a Participant but for failure to
        make Elective Deferrals shall be treated as a Participant on whose
        behalf no Elective Deferrals are made.

        

        For purposes of this Section 10.2, the actual
        deferral percentage for any eligible Participant who is a
        Highly-Compensated Employee for the Plan Year and who is eligible to
        have Elective Deferrals allocated to his account under two (2) or more
        plans or arrangements described in Code Section 401(k) that are
        maintained by the Employer or any employer who is a related group member
        (within the meaning of Section 2.5(b)) shall be determined as if all
        such deferrals were made under a single arrangement. In the event that
        this Plan satisfies the requirements of Code Section 401(k), 401(a)(4)
        or 410(b) only if aggregated with one (1) or more other plans, or if one
        (1) or more other plans satisfy the requirements of such Sections of the
        Code only if aggregated with this Plan, then the provisions of this
        Section 10.2 shall be applied by determining the actual deferral
        percentage of eligible Participants as if all such plans were a single
        plan. Plans may be aggregated in order to satisfy Section 401(k) of the
        Code only if they have the same Plan Year and use the same actual
        deferral percentage testing method.

        

        The determination and treatment of deferred amounts
        and the actual deferral percentage of any Participant shall be subject
        to the prescribed requirements of the Secretary of the Treasury.

        

        In the event the actual deferral percentage test is
        not satisfied for a Plan Year, the Employer, in its discretion, may make
        a Fail-Safe Contribution for eligible Participants who are Nonhighly-Compensated
        Employees, equal to a specified percentage of 

         

      
    
  

 

         

        compensation; provided, however such percentage does
        not exceed the greater of five percent (5%) or two times the Plan's
        "representative contribution rate." For purposes of this paragraph:

        

      
    
  

	"compensation" - shall mean compensation used for the actual
        deferral percentage test.
        

	"representative contribution rate" - shall mean the greater of:

    
  

(A) the lowest applicable contribution rate
              (defined below) of any eligible Nonhighly-Compensated Employee
              among a group of eligible Nonhighly-Compensated Employees that
              consists of at least fifty percent (50%) of the total eligible
              Nonhighly-Compensated Employees for the Plan Year, or

              

              (B) the lowest applicable contribution rate of
              any eligible Nonhighly-Compensated in the group of all eligible
              Nonhighly-Compensated Employees for the Plan Year and who is
              employed by the Employer on the last day of the Plan Year.

              

            
            The applicable contribution rate for an eligible
            Nonhighly-Compensated Employee is the sum of the qualified matching
            contribution taken into account for the eligible Nonhighly-Compensated
            Employee for the Plan Year and the Fail-Safe Contribution made for
            the eligible Nonhighly-Compensated Employee for the Plan Year,
            divided by the eligible Nonhighly-Compensated Employee's
            compensation for the same period.

            

          
        
        (b) Distributions of Excess Contributions.

        
        

        (1) In General. If the actual deferral
            percentage test of Section 10.2(a) is not satisfied for a Plan Year,
            then the "excess contributions," and income allocable thereto, shall
            be distributed, to the extent required under Treasury regulations,
            no later than the last day of the Plan Year following the Plan Year
            for which the excess contributions were made.

            

            (2) Excess Contributions. For purposes of
            this Section, "excess contributions" shall mean, with respect to any
            Plan Year, the excess of:

            

            (A) The aggregate amount of Employer
                contributions actually taken into account in computing the
                numerator of the actual deferral percentage of
                Highly-Compensated Employees for such Plan Year, over

                

                (B) The maximum amount of such contributions
                permitted by the ADP Test under Section 10.2(a) (determined by
                hypothetically reducing contributions made on behalf of
                Highly-Compensated Employees in order of the actual deferral
                percentages, beginning with the highest of such percentages).
                

                 

                 

              
            
          
        
      
    
  

 

                
                

              
            
            
            Excess contributions shall be allocated to the
            Highly-Compensated Employees with the highest dollar amounts of
            contributions taken into account in calculating the actual deferral
            percentage test for the year in which the excess arose, beginning
            with the Highly-Compensated Employee with the highest dollar amount
            of such contributions and continuing in descending order until all
            the excess contributions have been allocated. For purposes of the
            preceding sentence, the "highest dollar amount" is determined after
            distribution of any excess contributions. Any employer matching
            contributions and earnings thereon that relate to such excess
            contributions shall be forfeited and applied in accordance with
            Section 6.2. To the extent a Highly-Compensated Employee has not
            reached his catch-up contribution limit (set forth in Section 4.1(e)
            of the Plan), excess contributions allocated to such
            Highly-Compensated Employee are catch-up contributions and will not
            be treated as excess contributions.

            

            (3) Determination of Income. Excess
            contributions shall be adjusted for any income or loss up to the
            date of distribution. The income or loss allocable to excess
            contributions allocated to each Participant is the sum of: (i)
            income or loss allocable to the Participant's deferred amounts for
            the Plan Year multiplied by a fraction, the numerator of which is
            the excess contributions made on behalf of the Participant for the
            Plan Year, and the denominator of which is the sum of the
            Participant's Account balances attributable to the Participant's
            deferred amounts on the last day of the Plan Year; and (ii) ten
            percent (10%) of the amount determined under (i) multiplied by the
            number of whole calendar months between the end of the Plan Year and
            the date of distribution, counting the month of distribution if
            distribution occurs after the fifteenth (15th) of such
            month.

            
            

            
            (4) Accounting for Excess Contributions. Excess
            contributions shall be distributed from that portion of the
            Participant's Account attributable to such deferred amounts to the
            extent allowable under Treasury regulations.

            

            
             

          
        
      
    
    10.3 NONDISCRIMINATION TEST FOR EMPLOYER MATCHING
    CONTRIBUTIONS AND 

    AFTER-TAX CONTRIBUTIONS

    
    

    (a) Average Contribution Percentage Test ("ACP
        Test"). The provisions of this Section shall apply if Employer
        matching contributions are made in any Plan Year under Section 4.2(a)
        and such matching contributions are not used to satisfy the actual
        deferral percentage test of Section 10.2 and/or in the event Employee
        after-tax contributions are made to the Plan under Section 4.5. Any
        Employee after-tax contributions that are used to satisfy the average
        contribution percentage test shall satisfy the requirements of Section
        1.401(m)-2(a)(6) of the IRS Treasury Regulations.

        

        As of the last day of each Plan Year, the average
        contribution percentage for Highly-Compensated Employees for the Plan
        Year shall satisfy either of the following tests:

         

         

         

      
    
  

 

        

        (1) The average contribution percentage for
            eligible Participants who are Highly-Compensated Employees for the
            Plan Year shall not exceed the average contribution percentage for
            eligible Participants who are Nonhighly-Compensated Employees for
            the prior Plan Year multiplied by 1.25; or

            

            (2) The average contribution percentage for
            eligible Participants who are Highly-Compensated Employees for the
            Plan Year shall not exceed the average contribution percentage for
            eligible Participants who are Nonhighly-Compensated Employees for
            the prior Plan Year multiplied by two (2), provided that the average
            contribution percentage for eligible Participants who are
            Highly-Compensated Employees for the Plan Year does not exceed the
            average contribution percentage for eligible Participants who are
            Nonhighly-Compensated Employees for the prior Plan Year by more than
            two (2) percentage points.

          
        
        

        For purposes of the above tests, the "average
        contribution percentage" shall mean the average (expressed as a
        percentage) of the contribution percentages of the "eligible
        Participants" in each group. The "contribution percentage" shall mean
        the ratio (expressed as a percentage) that the sum of Employer matching
        contributions, and, if applicable, Employee after-tax contributions, and
        elective deferrals under Section 4.1 (to the extent such elective
        deferrals are not used to satisfy the actual deferral percentage test of
        Section 10.2) under the Plan on behalf of the eligible Participant for
        the Plan Year bears to the eligible Participant's "414(s) Compensation."
        For purposes hereof, 414(s) Compensation means compensation that
        satisfies the nondiscrimination requirements of Section 414(s) of the
        Code and the regulations thereunder. An Employer may limit the period
        taken into account for determining 414(s) Compensation to that part of
        the Plan Year or calendar year in which an Employee was a Participant in
        the component of the Plan being tested. The period used to determine
        414(s) Compensation must be applied uniformly to all Participants for
        the Plan Year. Such average contribution percentage shall be determined
        without regard to matching contributions that are used either to correct
        excess contributions hereunder or because contributions to which they
        relate are excess deferrals under Section 10.1 or excess contributions
        under Section 10.2. "Eligible Participant" shall mean each Employee who
        is eligible to receive Employer matching contributions or make after-tax
        contributions.

        

        For purposes of this Section 10.3, the contribution
        percentage for any eligible Participant who is a Highly-Compensated
        Employee for the Plan Year and who is eligible to have Employer matching
        contributions, elective deferrals and/or after-tax contributions
        allocated to his account under two (2) or more plans described in
        Section 401(a) of the Code or under arrangements described in Section
        401(k) of the Code that are maintained by the Employer or any member of
        the Employer's related group (within the meaning of Section 2.5(b)),
        shall be determined as if all such contributions were made under a
        single plan.

        

        In the event that this Plan satisfies the
        requirements of Section 401(m), 401(a)(4) or 410(b) of the Code only if
        aggregated with one (1) or more other plans, or if one (1) or more other
        plans satisfy the requirements of such Sections of the Code only if
        aggregated

         

      
    
  

 

         

         with this Plan, then the provisions of this
        Section 10.3 shall be applied by determining the contribution
        percentages of eligible Participants as if all such plans were a single
        plan. Plans may be aggregated in order to satisfy Section 401(m) of the
        Code only if they have the same Plan Year and use the same average
        contribution percentage testing method.

        

        The determination and treatment of the contribution
        percentage of any Participant shall satisfy such other requirements as
        may be prescribed by the Secretary of the Treasury.

        

        (b) Distribution of Excess Employer Matching
        Contributions.

        
        

        (1) In General. If the nondiscrimination
            tests of Section 10.3(a) are not satisfied for a Plan Year, then the
            "excess aggregate contributions," and any income allocable thereto,
            shall be forfeited, if otherwise forfeitable, no later than the last
            day of the Plan Year following the Plan Year for which the
            nondiscrimination tests are not satisfied, and shall be used to
            reduce Employer matching contributions under Section 4.2. To the
            extent that such "excess aggregate contributions" are nonforfeitable,
            such excess contributions shall be distributed to the Participant on
            whose behalf the excess contributions were made no later than the
            last day of the Plan Year following the Plan Year for which such
            "excess aggregate contributions" were made. For purposes of the
            limitations of Section 11.1(b)(1) of the Plan, excess aggregate
            contributions shall be considered annual additions.

            

            (2) Excess Aggregate Contributions. For
            purposes of this Section, "excess aggregate contributions" shall
            mean, with respect to any Plan Year, the excess of:

            

            (A) The aggregate amount of Employer matching
                contributions and, if applicable, Employee after-tax
                contributions, and elective deferrals under Section 4.1 (to the
                extent not used to satisfy the actual deferral percentage test
                of Section 10.2) actually taken into account in computing the
                numerator of the actual contribution percentage of
                Highly-Compensated Employees for such Plan Year, over

                

                (B) The maximum amount of such contributions
                permitted by the ACP Test under Section 10.3(a) (determined by
                hypothetically reducing contributions made on behalf of
                Highly-Compensated Employees in order of the actual contribution
                percentages, beginning with the highest of such percentages).
                

                

              
            
            Excess contributions shall be allocated to the
            Highly-Compensated Employee with the largest "contribution
            percentage amounts" (as defined below) taken into account in
            calculating the average contribution percentage test for the year in
            which the excess arose, beginning with the Highly-Compensated
            Employee with the largest amount of such contribution percentage
            amounts and continuing in descending order until all the excess
            aggregate contributions have been allocated. For purposes of the
            preceding sentence, the "largest amount" is determined after
            distribution of any excess aggregate contributions.

             

             

          
        
      
    
  

 

            

            For purposes of the preceding paragraph,
            "contribution percentage amounts" shall mean the sum of Employer
            matching contributions and, if applicable, Employee after-tax
            contributions, and elective deferrals (to the extent not used to
            satisfy the actual deferral percentage test of Section 10.2) made
            under the Plan on behalf of the Participant for the Plan Year.

            

            (3) Determination of Income. Excess
            aggregate contributions shall be adjusted for an income or loss up
            to the date of distribution. The income or loss allocable to excess
            contributions allocated to each Participant is the sum of: (i)
            income or loss allocable to the Employer matching contributions and,
            if applicable, Employee after-tax contributions, and such elective
            deferrals for the Plan Year multiplied by a fraction, the numerator
            of which is the excess aggregate contributions on behalf of the
            Participant for the Plan Year, and the denominator of which is the
            sum of the Participant's Account balances attributable to Employer
            matching contributions and, if applicable, Employee after-tax
            contributions, and such elective deferrals (to the extent not used
            to satisfy the average actual percentage test of Section 10.2) on
            the last day of the Plan Year; and (ii) ten percent (10%) of the
            amount determined under (i) multiplied by the number of whole
            calendar months between the end of the Plan Year and the date of
            distribution, counting the month of distribution if distribution
            occurs after the fifteenth (15th) of such month.

            

          
        
        Notwithstanding the foregoing, to the extent
        otherwise required to comply with the requirements of Section 401(a)(4),
        401(k)(3), or 401(m)(3) of the Code and the regulations thereunder,
        matching contributions may be forfeited.

        

         

         

         

         

         

         

         

      
    
  

 

      
    
  

ARTICLE ELEVEN--LIMITATION ON ANNUAL ADDITIONS

 

    11.1 RULES AND DEFINITIONS

    
    

    (a) Rules. The following rules shall
        limit additions to Participants' Accounts:

        

        (1) If the Participant does not participate, and
            has never participated, in another qualified plan maintained by the
            Employer, the amount of annual additions which may be credited to
            the Participant's Account for any limitation year shall not exceed
            the lesser of the "maximum permissible" amount (as hereafter
            defined) or any other limitation contained in this Plan. If the
            Employer contribution that would otherwise be allocated to the
            Participant's Account would cause the annual additions for the
            limitation year to exceed the maximum permissible amount, the amount
            allocated shall be reduced so that the annual additions for the
            limitation year shall equal the maximum permissible amount.

            

            (2) Prior to determining the Participant's actual
            compensation for the limitation year, the Employer may determine the
            maximum permissible amount for a Participant on the basis of a
            reasonable estimation of the Participant's compensation for the
            limitation year, uniformly determined for all Participants similarly
            situated.

            

            (3) As soon as is administratively feasible after
            the end of the limitation year, the maximum permissible amount for
            the limitation year shall be determined on the basis of the
            Participant's actual compensation for the limitation year.

            

            (4) If, as a result of the allocation of
            forfeitures, a reasonable error in estimating a Participant's annual
            Compensation, or a reasonable error in determining elective
            deferrals (within the meaning of Section 4.1), the limitations of
            Section 415 of the Code are exceeded, such excess amount shall be
            disposed of as follows:

            

            (A) Any nondeductible Employee after-tax
                contributions (plus attributable earnings) and, to the extent
                elected by the Administrator pursuant to a nondiscriminatory
                procedure, elective deferrals under Section 4.1(a) (plus
                attributable earnings), to the extent they would reduce the
                excess amount, shall be returned to the Participant.

                

                (B) If an excess amount still exists after
                the application of subparagraph (A), and the Participant is
                covered by the Plan at the end of the limitation year, the
                excess amount in the Participant's Account shall be used to
                reduce Employer contributions (including any allocation of
                forfeitures, if applicable) for such Participant in the next
                limitation year, and each succeeding limitation year if
                necessary.

                

                (C) If an excess amount still exists after
                the application of subparagraph (A), and the Participant is not
                covered by the Plan at the end of the limitation

                 

                 

              
            
          
        
      
    
  

 

                 

                 

                 year, the excess amount shall be held
                unallocated in a suspense account and applied to reduce future
                Employer contributions (including allocation of any forfeitures)
                for all remaining Participants in the next limitation year, and
                each succeeding limitation year if necessary. Excess amounts may
                not be distributed to Participants or former Participants.

                

                (D) If a suspense account is in existence at
                any time during the limitation year pursuant to this Section
                11.1(a)(4), it shall not participate in the allocation of the
                Trust's investment gains and losses. In addition, all amounts
                held in the suspense account shall be allocated and reallocated
                to Participants' Accounts before any Employer or Employee
                contributions may be made for the limitation year.

                

              
            
            (5) If, in addition to this Plan, the Participant
            is covered under another defined contribution plan maintained by the
            Employer, or a welfare benefit fund, as defined in Code Section
            419(e), maintained by the Employer, or an individual medical
            account, as defined in Code Section 415(1)(2), maintained by the
            Employer which provides an annual addition, the annual additions
            which may be credited to a Participant's account under all such
            plans for any such limitation year shall not exceed the maximum
            permissible amount. Benefits shall be reduced under any
            discretionary defined contribution plan before they are reduced
            under any other defined contribution plan. If both plans are
            discretionary contribution plans, they shall first be reduced under
            this Plan. Any excess amount attributable to this Plan shall be
            disposed of in the manner described in Section 11.1(a)(4).

            

          
        
        (b) Definitions.

        
        

        (1) Annual additions: The following
            amounts credited to a Participant's Account for the limitation year
            shall be treated as annual additions:

            

            (A) Employer contributions;

                

                (B) Elective deferrals (within the meaning of
                Section 4.1);

                

                (C) Employee after-tax contributions, if any;

                

                (D) Forfeitures, if any; and

                

                (E) Amounts allocated after March 31, 1984 to
                an individual medical account, as defined in Section 415(l)(2)
                of the Code, which is part of a pension or annuity plan
                maintained by the Employer. Also, amounts derived from
                contributions paid or accrued after December 31, 1985 in taxable
                years ending after such date which are attributable to
                post-retirement medical benefits allocated to the separate
                account of a Key Employee, as defined in Section 419A(d)(3), and
                amounts under a welfare benefit fund, as defined 

                 

                 

              
            
          
        
      
    
  

 

                in Section 419(e), maintained by the
                Employer, shall be treated as annual additions to a defined
                contribution plan.

                

              
            
            Employer and employee contributions taken into
            account as annual additions shall include "excess contributions" as
            defined in Section 401(k)(8)(B) of the Code, "excess aggregate
            contributions" as defined in Section 401(m)(6)(B) of the Code, and
            "excess deferrals" as defined in Section 402(g) of the Code,
            regardless of whether such amounts are distributed, recharacterized
            or forfeited, unless such amounts constitute excess deferrals that
            were distributed to the Participant no later than April 15 of the
            taxable year following the taxable year of the Participant in which
            such deferrals were made.

            

            For this purpose, any excess amount applied under
            Section 11.1(a)(4) in the limitation year to reduce Employer
            contributions shall be considered annual additions for such
            limitation year.

            

            (2) Compensation: For purposes of
            determining maximum permitted benefits under this Section,
            compensation shall mean Compensation as defined in Article 1 of the
            Plan. Compensation shall be measured on the basis of compensation
            paid in the limitation year. 

            

            (3) Defined contribution dollar limitation:
            This shall mean $40,000, as adjusted under Section 415(d) of the
            Code.

            

            (4) Employer: This term refers to the
            Employer that adopts this Plan, and all members of a controlled
            group of corporations (as defined in Section 414(b) of the Code, as
            modified by Section 415(h)), commonly-controlled trades or
            businesses (as defined in Section 414(c), as modified by Section
            415(h)), or affiliated service groups (as defined in Section 414(m))
            of which the Employer is a part, or any other entity required to be
            aggregated with the Employer under Code Section 414(o).

            

            (5) Limitation year: This shall mean the
            Plan Year, unless the Employer elects a different twelve (12)
            consecutive month period. The election shall be made by the adoption
            of a Plan amendment by the Employer. If the limitation year is
            amended to a different twelve (12) consecutive month period, the new
            limitation year must begin on a date within the limitation year in
            which the amendment is made.

            

            (6) Maximum permissible amount: Except to
            the extent permitted under Section 4.1(e) and Section 414(v) of the
            Code, if applicable, this shall mean an amount equal to the lesser
            of the defined contribution dollar limitation or one hundred percent
            (100%) of
            the Participant's compensation for the limitation year. If a short
            limitation year is created because of an amendment changing the
            limitation year to a different twelve (12)-consecutive month period,
            the maximum permissible amount shall not exceed the defined
            contribution dollar limitation multiplied by the following fraction:

             

             

          
        
      
    
  

            

          
          
          Number of months in the short limitation year

          
          12

          

           

           

           

           

           

           

           

           

           

           

           

           

           

           

        
      
    
  

           

           

        
      
    
  

ARTICLE TWELVE--AMENDMENT AND TERMINATION

 

    12.1 AMENDMENT. The Employer reserves the right
    to amend or modify the Plan at any time, or from time to time, in whole or
    in part. However, the Committee (within the meaning of Section 9.1) may make
    administrative changes to the Plan so as to conform with or take advantage
    of governmental requirements, statutes or regulations. Any such amendment
    shall become effective under its terms upon adoption by the Employer or the
    Committee, as the case may be. However, no amendment affecting the duties,
    powers or responsibilities of the Trustee may be made without the written
    consent of the Trustee. No amendment shall be made to the Plan which shall:

    

    (a) make it possible (other than as provided in
        Section 14.3) for any part of the corpus or income of the Trust Fund
        (other than such part as may be required to pay taxes and administrative
        expenses) to be used for or diverted to purposes other than the
        exclusive benefit of the Participants or their Beneficiaries;

        

        (b) decrease a Participant's account balance or
        eliminate an optional form of payment (unless permitted by applicable
        law) with respect to benefits accrued as of the later of (i) the date
        such amendment is adopted, or (ii) the date the amendment becomes
        effective; or

        

        (c) alter the schedule for vesting in a Participant's
        Account with respect to any Participant with three (3) or more Years of
        Service without his consent or deprive any Participant of any
        nonforfeitable portion of his Account.

        

      
    
    Notwithstanding the other provisions of this Section or
    any other provisions of the Plan, any amendment or modification of the Plan
    may be made retroactively if necessary or appropriate within the remedial
    amendment period to conform to or to satisfy the conditions of any law,
    governmental regulation, or ruling, and to meet the requirements of the
    Employee Retirement Income Security Act of 1974, as it may be amended.

    

    If any corrective amendment (within the meaning of
    Section 1.401(a)(4)-11(g) of the Treasury Regulations) is made after the end
    of a Plan Year, such amendment shall satisfy the requirements of Section
    1.401(a)(4)-11(g)(3) and (4) of the Treasury Regulations.

    

     

    
    12.2 TERMINATION OF THE PLAN. The Employer, by
    resolution of its board of directors, reserves the right at any time and in
    its sole discretion to discontinue payments under the Plan and to terminate
    the Plan. In the event the Plan is terminated, or upon complete
    discontinuance of contributions under the Plan by the Employer, the rights
    of each Participant to his Account on the date of such termination or
    discontinuance of contributions, to the extent of the fair market value
    under the Trust Fund, shall remain fully vested and nonforfeitable. The
    Employer shall direct the Trustee to distribute the Trust Fund in accordance
    with the Plan's distribution provisions to the Participants and their
    Beneficiaries, each Participant or Beneficiary receiving a portion of the
    Trust Fund equal to the value of his Account as of the date of distribution.
    These distributions may be implemented by the continuance of the Trust and
    the distribution of the Participants' Account shall be made at such time and
    in such manner as though the Plan had not

     

  

 

     

     

     terminated, or by any other
    appropriate method, including rollover into Individual Retirement Accounts.
    Upon distribution of the Trust Fund, the Trustee shall be discharged from
    all obligations under the Trust and no Participant or Beneficiary shall have
    any further right or claim therein. In the event of the partial termination
    of the Plan, the Accounts of all affected Participants shall remain fully
    vested and nonforfeitable and the provisions of the preceding paragraph
    shall apply with respect to such Participants' Accounts.

    

    In the event of the termination of the Plan, any amounts
    to be distributed to Participants or Beneficiaries who cannot be located
    shall be handled in accordance with the provisions of applicable law (which
    may include the establishment of an account for such Participant or
    Beneficiary).

    

     

     

     

     

     

     

     

     

     

  

 

     

  

ARTICLE THIRTEEN--TOP-HEAVY PROVISIONS

 

    13.1 APPLICABILITY. The provisions of this
    Article shall become applicable only for any Plan Year in which the Plan is
    a Top-Heavy Plan (as defined in Section 13.2(b)). Notwithstanding the
    foregoing, this Article shall not apply in any Plan Year in which the Plan
    consists solely of a cash or deferred arrangement which meets the
    requirements of Section 401(k)(12) of the Code and matching contributions
    with respect to which the requirements of Section 401(m)(11) of the Code are
    met.

    

     

    
    13.2 DEFINITIONS. For purposes of this Article,
    the following definitions shall apply:

    

    (a) "Key Employee": "Key Employee" shall mean
        any Employee or former Employee (including any deceased Employee) who,
        at any time during the Plan Year that includes the determination date,
        was an officer of the Employer having annual compensation greater than
        $130,000 (as adjusted under Section 416(i)(1) of the Code for Plan Years
        beginning after December 31, 2002), a five percent (5%) owner of the
        Employer, or a one percent (1%) owner of the Employer having annual
        compensation of more than $150,000. For this purpose, annual
        compensation shall mean compensation as defined in Section 11.1(b)(2) of
        the Plan. The determination of who is a Key Employee (including the
        terms "5% owner" and "1% owner") shall be made in accordance with
        Section 416(i)(1) of the Code and the applicable regulations and other
        guidance of general applicability issued thereunder.

        

        (b) "Top-Heavy Plan":

        

        (1) The Plan shall constitute a "Top-Heavy Plan"
            if any of the following conditions exist:

            

            (A) The top-heavy ratio for the Plan exceeds
                sixty percent (60%) and the Plan is not part of any required
                aggregation group or permissive aggregation group of plans; or

                

                (B) The Plan is part of a required
                aggregation group of plans (but is not part of a permissive
                aggregation group) and the top-heavy ratio for the group of
                plans exceeds sixty percent (60%); or

                

                (C) The Plan is a part of a required
                aggregation group of plans and part of a permissive aggregation
                group and the top-heavy ratio for the permissive aggregation
                group exceeds sixty percent (60%).

                

              
            
            (2) If the Employer maintains one (1) or more
            defined contribution plans (including any simplified employee
            pension plan funded with individual retirement accounts or
            annuities) and the Employer maintains or has maintained one (1) or
            more defined benefit plans which have covered or could cover a
            Participant in this Plan,

             

             

          
        
      
    
  

 

             

             the top-heavy ratio is a fraction, the
            numerator of which is the sum of account balances under the defined
            contribution plans for all Key Employees and the actuarial
            equivalents of accrued benefits under the defined benefit plans for
            all Key Employees, and the denominator of which is the sum of the
            account balances under the defined contribution plans for all
            Participants and the actuarial equivalents of accrued benefits under
            the defined benefit plans for all Participants. Both the numerator
            and denominator of the top-heavy ratio shall include any
            distribution of an account balance or an accrued benefit made in the
            one (1)-year period ending on the determination date and any
            contribution due to a defined contribution pension plan but unpaid
            as of the determination date. In determining the accrued benefit of
            a non-Key Employee who is participating in a plan that is part of a
            required aggregation group, the method of determining such benefit
            shall be either (i) in accordance with the method, if any, that
            uniformly applies for accrual purposes under all plans maintained by
            the Employer or any member of the Employer's related group (within
            the meaning of Section 2.5(b)), or (ii) if there is no such method,
            as if such benefit accrued not more rapidly than the slowest accrual
            rate permitted under the fractional accrual rate of Code Section
            411(b)(1)(C).

            

            (3) For purposes of (1) and (2) above, the value
            of account balances and the actuarial equivalents of accrued
            benefits shall be determined as of the most recent Valuation Date
            that falls within or ends with the twelve (12)-month period ending
            on the determination date. The account balances and accrued benefits
            of a Participant who is not a Key Employee but who was a Key
            Employee in a prior year shall be disregarded. The accrued benefits
            and account balances of Participants who have performed no service
            with any Employer maintaining the plan for the one (1)-year period
            ending on the determination date shall be disregarded. The
            calculations of the top-heavy ratio, and the extent to which
            distributions, rollovers, and transfers are taken into account shall
            be made under Section 416 of the Code and regulations issued
            thereunder. Deductible Employee contributions shall not be taken
            into account for purposes of computing the top-heavy ratio. When
            aggregating plans, the value of account balances and accrued
            benefits shall be calculated with reference to the determination
            dates that fall within the same calendar year.

            

            (4) Definition of terms for Top-Heavy status:

            

            (A) "Top-heavy ratio" shall mean the
                following:

                

                (1) If the Employer maintains one or more
                    defined contribution plans (including any simplified
                    employee pension plan funded with individual retirement
                    accounts or annuities) and the Employer has never maintained
                    any defined benefit plans which have covered or could cover
                    a Participant in this Plan, the top-heavy ratio is a
                    fraction, the numerator of which is the sum of the account
                    balances of all Key Employees as of the determination date,
                    and the

                     

                  
                
              
            
          
        
      
    
  

 

                     

                     denominator of which is the sum of
                    the account balances of all Participants as of the
                    determination date. Both the numerator and the denominator
                    shall be increased by any contributions due but unpaid to a
                    defined contribution pension plan as of the determination
                    date.

                    

                  
                
                (B) "Permissive aggregation group"
                shall mean the required aggregation group of plans plus any
                other plan or plans of the Employer which, when considered as a
                group with the required aggregation group, would continue to
                satisfy the requirements of Sections 401(a)(4) and 410 of the
                Code.

                

                (C) "Required aggregation group" shall
                mean (i) each qualified plan of the Employer (including any
                terminated plan) in which at least one Key Employee
                participates, and (ii) any other qualified plan of the Employer
                which enables a plan described in (i) to meet the requirements
                of Section 401(a)(4) or 410 of the Code.

                

                (D) "Determination date" shall mean,
                for any Plan Year subsequent to the first Plan Year, the last
                day of the preceding Plan Year. For the first Plan Year of the
                Plan, "determination date" shall mean the last day of that Plan
                Year.

                

                (E) "Valuation Date" shall mean the
                last day of the Plan Year.

                

                (F) Actuarial equivalence shall be based on
                the interest and mortality rates utilized to determine actuarial
                equivalence when benefits are paid from any defined benefit
                plan. If no rates are specified in said plan, the following
                shall be utilized: pre- and post-retirement interest -- five
                percent (5%); post-retirement mortality based on the Unisex
                Pension (1984) Table as used by the Pension Benefit Guaranty
                Corporation on the date of execution hereof.

                
                

                 

              
            
          
        
      
    
    13.3 ALLOCATION OF EMPLOYER CONTRIBUTIONS AND
    FORFEITURES FOR A TOP-HEAVY PLAN YEAR.

    
    

    (a) Except as otherwise provided below, in any Plan
        Year in which the Plan is a Top-Heavy Plan, the Employer contributions
        and forfeitures allocated on behalf of any Participant who is a non-Key
        Employee shall not be less than the lesser of three percent (3%) of such
        Participant's compensation (as defined in Section 11.1(b)(2) and as
        limited by Section 401(a)(17) of the Code) or the largest percentage of
        Employer contributions, elective deferrals (within the meaning of
        Section 4.1), and forfeitures as a percentage of the Key Employee's
        compensation (as defined in Section 11.1(b)(2) and as limited by Section
        401(a)(17) of the Code), allocated on behalf of any Key Employee for
        that Plan Year. This minimum allocation shall be made even though, under
        other Plan provisions, the Participant would not otherwise be entitled
        to receive an allocation or would have 

         

      
    
  

 

         

        received a lesser allocation for the Plan Year
        because of insufficient Employer contributions under Section 4.2, the
        Participant's failure to make elective deferrals under Section 4.1 or
        compensation is less than a stated amount.

        

        (b) The minimum allocation under this Section shall
        not apply to any Participant who was not employed by the Employer on the
        last day of the Plan Year.

        

        (c) Elective deferrals may not be taken into account
        for the purpose of satisfying the minimum allocation. However, Employer
        matching contributions may be taken into account for the purpose of
        satisfying the minimum allocation.

        

        (d) For purposes of the Plan, a non-Key Employee
        shall be any Employee or Beneficiary of such Employee, any former
        Employee, or Beneficiary of such former Employee, who is not or was not
        a Key Employee during the Plan Year ending on the determination date.

        

        (e) If no defined benefit plan has ever been part of
        a permissive or required aggregation group of plans of the Employer, the
        contributions and forfeitures under this step shall be offset by any
        allocation of contributions and forfeitures under any other defined
        contribution plan of the Employer with a Plan Year ending in the same
        calendar year as this Plan's Valuation Date.

        

        (f) There shall be no duplication of the minimum
        benefits required under Code Section 416. Benefits shall be provided
        under defined contribution plans before under defined benefit plans. If
        a defined benefit plan (active or terminated) is part of the permissive
        or required aggregation group of plans, the allocation method of
        subparagraph (a) above shall apply, except that "3%" shall be increased
        to "5%."

        

        
         

      
    
    13.4 VESTING. The provisions contained in Section
    6.1 relating to vesting shall continue to apply in any Plan Year in which
    the Plan is a Top-Heavy Plan, and apply to all benefits within the meaning
    of Section 411(a)(7) of the Code except those attributable to Employee
    contributions and elective deferrals under Section 4.1, including benefits
    accrued before the effective date of Section 416 and benefits accrued before
    the Plan became a Top-Heavy Plan. 

    

    Payment of a Participant's Account balance under this
    Section shall be made in accordance with the provisions of Article Seven.

     

     

     

  

 

    

  

ARTICLE FOURTEEN--MISCELLANEOUS PROVISIONS

 

    14.1 PLAN DOES NOT AFFECT EMPLOYMENT. Neither the
    creation of this Plan, any amendment thereto, the creation of any fund nor
    the payment of benefits hereunder shall be construed as giving any legal or
    equitable right to any Employee or Participant against the Employer, its
    officers or Employees, or against the Trustee. All liabilities under this
    Plan shall be satisfied, if at all, only out of the Trust Fund held by the
    Trustee. Participation in the Plan shall not give any Participant any right
    to be retained in the employ of the Employer, and the Employer hereby
    expressly retains the right to hire and discharge any Employee at any time
    with or without cause, as if the Plan had not been adopted, and any such
    discharged Participant shall have only such rights or interests in the Trust
    Fund as may be specified herein.

    

     

    
    14.2 SUCCESSOR TO THE EMPLOYER. In the event of
    the merger, consolidation, reorganization or sale of assets of the Employer,
    under circumstances in which a successor person, firm, or corporation shall
    carry on all or a substantial part of the business of the Employer, and such
    successor shall employ a substantial number of Employees of the Employer and
    shall elect to carry on the provisions of the Plan, such successor shall be
    substituted for the Employer under the terms and provisions of the Plan upon
    the filing in writing with the Trustee of its election to do so.

    

     

    
    14.3 REPAYMENTS TO THE EMPLOYER. Notwithstanding
    any provisions of this Plan to the contrary:

    

    (a) Any monies or other Plan assets attributable to
        any contribution made to this Plan by the Employer because of a mistake
        of fact shall be returned to the Employer within one (1) year after the
        date of contribution.

        

        (b) Any monies or other Plan assets attributable to
        any contribution made to this Plan by the Employer shall be refunded to
        the Employer, to the extent such contribution is predicated on the
        deductibility thereof under the Code and the income tax deduction for
        such contribution is disallowed. Such amount shall be refunded within
        one (1) taxable year after the date of such disallowance or within one
        (1) year of the resolution of any judicial or administrative process
        with respect to the disallowance. All Employer contributions hereunder
        are expressly contributed based upon such contributions' deductibility
        under the Code.

        

         

      
    
    
    14.4 BENEFITS NOT ASSIGNABLE. Except as provided
    in Section 414(p) of the Code with respect to "qualified domestic relations
    orders," or except as provided in Section 401(a)(13)(C) of the Code with
    respect to certain judgments and settlements, the rights of any Participant
    or his Beneficiary to any benefit or payment hereunder shall not be subject
    to voluntary or involuntary alienation or assignment.

     

     

  

 

    

    With respect to any "qualified domestic relations order"
    relating to the Plan, the Plan shall permit distribution to an alternate
    payee under such order at any time, irrespective of whether the Participant
    has attained his "earliest retirement age" (within the meaning of Section
    414(p)(4)(B) of the Code) under the Plan. A distribution to an alternate
    payee prior to the Participant's attainment of his earliest retirement age
    shall, however, be available only if the order specifies distribution at
    that time or permits an agreement between the Plan and the alternate payee
    to authorize an earlier distribution. Nothing in this paragraph shall,
    however, give a Participant a right to receive distribution at a time
    otherwise not permitted under the Plan nor does it permit the alternate
    payee to receive a form of payment not otherwise permitted under the Plan or
    under said Section 414(p) of the Code.

    

     

    
    14.5 MERGER OF PLANS. In the case of any merger
    or consolidation of this Plan with, or transfer of the assets or liabilities
    of the Plan to, any other plan, the terms of such merger, consolidation or
    transfer shall be such that each Participant would receive (in the event of
    termination of this Plan or its successor immediately thereafter) a benefit
    which is no less than what the Participant would have received in the event
    of termination of this Plan immediately before such merger, consolidation or
    transfer.

    

     

    
    14.6 INVESTMENT EXPERIENCE NOT A FORFEITURE. The
    decrease in value of any Account due to adverse investment experience shall
    not be considered an impermissible "forfeiture" of any vested balance.

    

     

    
    14.7 CONSTRUCTION. Wherever appropriate, the use
    of the masculine gender shall be interpreted to include the feminine and/or
    neuter or vice versa; and the singular form of words shall be interpreted to
    include the plural or vice versa.

    

     

    
    14.8 GOVERNING DOCUMENTS. A Participant's rights
    shall be determined under the terms of the Plan as in effect at the
    Participant's date of termination from employment, or, if later, and to the
    extent permitted by applicable law, as determined under the terms of the
    Plan.

    

     

    
    14.9 GOVERNING LAW. The provisions of this Plan
    shall be construed under the laws of the State of New York, except to the
    extent such laws are preempted by Federal law.

    

     

    
    14.10 HEADINGS. The Article headings and Section
    numbers are included solely for ease of reference. If there is any conflict
    between such headings or numbers and the text of the Plan, the text shall
    control.

    

     

  

 

    
    14.11 COUNTERPARTS. This Plan may be executed in
    any number of counterparts, each of which shall be deemed an original; said
    counterparts shall constitute but one and the same instrument, which may be
    sufficiently evidenced by any one counterpart.

    

    
     

    14.12 LOCATION OF PARTICIPANT OR BENEFICIARY UNKNOWN.
    In the event that all or any portion of the distribution payable to a
    Participant or to a Participant's Beneficiary hereunder shall, at the
    expiration of five (5) years after it shall become payable, remain unpaid
    solely by reason of the inability of the Administrator to ascertain the
    whereabouts of such Participant or Beneficiary, after sending a registered
    letter, return receipt requested, to the last known address, and after
    further diligent effort, the amount so distributable shall be forfeited and
    used to pay Plan administrative expenses and/or used to reduce future
    Employer contributions. In the event a Participant or Beneficiary is located
    subsequent to the forfeiture of his Account balance, such Account balance
    shall be restored.

    

     

    
    14.13 DISTRIBUTION TO MINOR OR LEGALLY INCAPACITATED.
    In the event any benefit is payable to a minor or to a person deemed to
    be incompetent or to a person otherwise under legal disability, or who is by
    sole reason of advanced age, illness, or other physical or mental incapacity
    incapable of handling the disposition of his property, the Administrator,
    may direct the Trustee to make payment of such benefit to the guardian,
    committee, or other legal representative, wherever appointed, of such
    person, or if none in the case of a minor Beneficiary, to a parent of such
    Beneficiary, or to the custodian for such Beneficiary under the Uniform Gift
    to Minors Act, if such is permitted by the laws of the state in which said
    Beneficiary resides. The receipt of any such payment or distribution shall
    be a complete discharge of liability for Plan obligations.

     

     

     

  

 

    

    
    APPENDIX A

    

    
    Participating Affiliates

    
    

    Barretts Minerals Inc.

    Specialty Minerals Inc.

    MINTEQ International Inc.

    MINTEQ Shapes and Services Inc.

    Specialty Minerals (Michigan) Inc.

    Specialty Minerals Mississippi, Inc.

    Synsil Products Inc.

    

     

     

     

     

     

     

     

     

     

     

  

 

     

     

     

     

  

IN WITNESS WHEREOF, the Board of Directors of Minerals
Technologies Inc. has authorized the undersigned to execute this amended and
restated Plan document, and the undersigned has executed the Plan on this 13th
day of December, 2007.

 

  
    
      
        
          
            
MINERALS TECHNOLOGIES INC.

 

 

By __/s/ Kirk Forrest______________________

Kirk Forrest

General Counsel

 

By __/s/ Gordon Borteck___________________

Gordon Borteck

Vice-President, Organization and Human Resources

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