Document:

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                                                                     EXHIBIT 4.3

                        INTEGRATED SILICON SOLUTION, INC.

                             NONSTATUTORY STOCK PLAN

           (AS AMENDED BY THE BOARD OF DIRECTORS ON FEBRUARY 6, 2001)

      1.    Purposes of the Plan. The purposes of this Plan are to attract and
retain the best available personnel for positions of substantial responsibility,
to provide additional incentive to Employees and Consultants of the Company and
its Subsidiaries and to promote the success of the Company's business. Only
nonstatutory stock options may be granted under the Plan.

      2.    Definitions. As used herein, the following definitions shall apply:

            (a)   "Administrator" means the Board or any of its Committees
appointed pursuant to Section 4 of the Plan.

            (b)   "Board" means the Board of Directors of the Company.

            (c)   "Code" means the Internal Revenue Code of 1986, as amended.

            (d)   "Committee" means the Committee appointed by the Board of
Directors in accordance with paragraph (a) of Section 4 of the Plan.

            (e)   "Common Stock" means the Common Stock of the Company.

            (f)   "Company" means Integrated Silicon Solution, Inc., a Delaware
corporation.

            (g)   "Consultant" means any person, including an advisor, who is
engaged by the Company or any parent, subsidiary or affiliate to render
services.

            (h)   "Continuous Status as an Employee or Consultant" means the
absence of any interruption or termination of service as an Employee or
Consultant. Continuous Status as an Employee or Consultant shall not be
considered interrupted in the case of: (i) sick leave; (ii) military leave;
(iii) any other leave of absence approved by the Company; (iv) transfer between
locations of the Company or between the Company, its subsidiaries, successors or
affiliates; or (v) change in status from Employee to Consultant or Consultant to
Employee.

            (i)   "Employee" means any person employed by the Company or any
parent, subsidiary or affiliate of the Company other than any executive officer
of the Company within the meaning of Section 16 of the Exchange Act. The payment
of a director's fee by the Company shall not be sufficient to constitute
"employment" by the Company.

            (j)   "Exchange Act" means the Securities Exchange Act of 1934, as
amended.

            (k)   "Fair Market Value" means, as of any date, the value of Common
Stock determined as follows:

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                  (i)   If the Common Stock is listed on any established stock
exchange or a national market system including without limitation the National
Market of the National Association of Securities Dealers, Inc. Automated
Quotation ("NASDAQ") System, its Fair Market Value shall be the closing sales
price for such stock (or the closing bid, if no sales were reported), as quoted
on such system or exchange, for the day of determination as reported in The Wall
Street Journal or such other source as the Administrator deems reliable;

                  (ii)  If the Common Stock is quoted on the NASDAQ System (but
not on the National Market thereof) or regularly quoted by a recognized
securities dealer but selling prices are not reported, its Fair Market Value
shall be the mean between the high and low asked prices for the Common Stock on
the date of determination or;

                  (iii) In the absence of an established market for the Common
Stock, the Fair Market Value thereof shall be determined in good faith by the
Administrator.

            (l)   "Option" means a nonstatutory stock option granted pursuant to
the Plan. Such option is not intended to qualify as an incentive stock option
within the meaning of Section 422 of the Code.

            (m)   "Optioned Stock" means the Common Stock subject to an Option.

            (n)   "Optionee" means an Employee or Consultant who receives an
Option.

            (o)   "Plan" means this Nonstatutory Stock Plan.

            (p)   "Share" means a share of the Common Stock, as adjusted in
accordance with Section 12 of the Plan.

      3.    Stock Subject to the Plan. Subject to the provisions of Section 12
of the Plan, the maximum aggregate number of shares which may be optioned and
sold under the Plan is 3,243,500 shares of Common Stock. The shares may be
authorized, but unissued, or reacquired Common Stock.

            If an Option should expire or become unexercisable for any reason
without having been exercised in full, the unpurchased Shares which were subject
thereto shall, unless the Plan shall have been terminated, become available for
future grant under the Plan.

      4.    Administration of the Plan.

            (a)   Administration. The Plan shall be administered by (i) the
Board or (ii) a Committee designated by the Board, which Committee shall be
constituted to satisfy applicable laws. Once appointed, such Committee shall
serve in its designated capacity until otherwise directed by the Board. The
Board may increase the size of the Committee and appoint additional members,
remove members (with or without cause) and substitute new members, fill
vacancies (however caused), and remove all members of the Committee and
thereafter directly administer the Plan, all to the extent permitted by
applicable laws.

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            (b)   Powers of the Administrator. Subject to the provisions of the
Plan and in the case of a Committee, the specific duties delegated by the Board
to such Committee, the Administrator shall have the authority, in its
discretion:

                  (i)   to determine the Fair Market Value of the Common Stock;

                  (ii)  to select the Consultants and Employees to whom Options
may from time to time be granted hereunder;

                  (iii) to determine whether and to what extent Options, are
granted hereunder;

                  (iv)  to determine the number of shares of Common Stock to be
covered by each such award granted hereunder;

                  (v)   to approve forms of agreement for use under the Plan;

                  (vi)  to determine the terms and conditions, not inconsistent
with the terms of the Plan, of any award granted hereunder (including, but not
limited to, the share price and any restriction or limitation, or any vesting
acceleration or waiver of forfeiture restrictions regarding any Option and/or
the shares of Common Stock relating thereto, based in each case on such factors
as the Administrator shall determine, in its sole discretion);

                  (vii) to determine whether and under what circumstances an
Option may be settled in cash under Section 9(e) instead of Common Stock;

                  (viii) to determine whether, to what extent and under what
circumstances Common Stock and other amounts payable with respect to an award
under this Plan shall be deferred either automatically or at the election of the
participant (including providing for and determining the amount, if any, of any
deemed earnings on any deferred amount during any deferral period); and

                  (ix)  to reduce the exercise price of any Option to the then
current Fair Market Value if the Fair Market Value of the Common Stock covered
by such Option shall have declined since the date the Option was granted.

            (c)   Effect of Administrator's Decision. All decisions,
determinations and interpretations of the Administrator shall be final and
binding on all Optionees and any other holders of any Options.

      5.    Eligibility.

            (a)   Options may be granted to Employees or Consultants.

            (b)   The Plan shall not confer upon any Optionee any right with
respect to continuation of employment or consulting relationship with the
Company, nor shall it interfere in any way with his right or the Company's right
to terminate his employment or consulting relationship at any time, with or
without cause.

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      6.    Term of Plan. The Plan shall become effective upon its adoption by
the Board of Directors. It shall continue in effect until terminated under
Section 14 of the Plan.

      7.    Term of Option. The term of each Option shall be the term stated in
the Option Agreement.

      8.    Option Exercise Price and Consideration.

            (a)   The per share exercise price for the Shares to be issued
pursuant to exercise of an Option shall be such price as is determined by the
Administrator.

            (b)   The consideration to be paid for the Shares to be issued upon
exercise of an Option, including the method of payment, shall be determined by
the Administrator and may consist entirely of (1) cash, (2) check, (3)
promissory note, (4) other Shares which (x) in the case of Shares acquired upon
exercise of an Option either have been owned by the Optionee for more than six
months on the date of surrender or were not acquired, directly or indirectly,
from the Company, and (y) have a Fair Market Value on the date of surrender
equal to the aggregate exercise price of the Shares as to which said Option
shall be exercised, (5) authorization from the Company to retain from the total
number of Shares as to which the Option is exercised that number of Shares
having a Fair Market Value on the date of exercise equal to the exercise price
for the total number of Shares as to which the Option is exercised, (6) by
delivering an irrevocable subscription agreement for the Shares which
irrevocably obligates the option holder to take and pay for the Shares not more
than twelve months after the date of delivery of the subscription agreement, (7)
delivery of a properly executed exercise notice together with such other
documentation as the Administrator and the broker, if applicable, shall require
to effect an exercise of the Option and delivery to the Company of the sale or
loan proceeds required to pay the exercise price; (8) any combination of the
foregoing methods of payment, (9) or such other consideration and method of
payment for the issuance of Shares to the extent permitted under applicable
laws.

      9.    Exercise of Option.

            (a)   Procedure for Exercise; Rights as a Stockholder. Any Option
granted hereunder shall be exercisable at such times and under such conditions
as determined by the Board, including performance criteria with respect to the
Company and/or the Optionee, and as shall be permissible under the terms of the
Plan.

                  An Option may not be exercised for a fraction of a Share.

                  An Option shall be deemed to be exercised when written notice
of such exercise has been given to the Company in accordance with the terms of
the Option by the person entitled to exercise the Option and full payment for
the Shares with respect to which the Option is exercised has been received by
the Company. Full payment may, as authorized by the Board, consist of any
consideration and method of payment allowable under Section 8(b) of the Plan.
Until the issuance (as evidenced by the appropriate entry on the books of the
Company or of a duly authorized transfer agent of the Company) of the stock
certificate evidencing such Shares, no right to vote or receive dividends or any
other rights as a stockholder shall exist with respect to the Optioned Stock,
notwithstanding the exercise of the Option. The Company shall issue (or cause to
be issued) such stock certificate promptly

                                      -4-
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upon exercise of the Option. No adjustment will be made for a dividend or other
right for which the record date is prior to the date the stock certificate is
issued, except as provided in Section 12 of the Plan.

                  Exercise of an Option in any manner shall result in a decrease
in the number of Shares which thereafter may be available, both for purposes of
the Plan and for sale under the Option, by the number of Shares as to which the
Option is exercised.

            (b)   Termination of Employment. In the event of termination of an
Optionee's Continuous Status as an Employee or Consultant, such Optionee may,
but only within thirty (30) days (or within such other period of time as is
determined by the Board), after the date of such termination (but in no event
later than the expiration date of the term of such Option as set forth in the
Option Agreement), exercise his Option to the extent that Optionee was entitled
to exercise it at the date of such termination. To the extent that Optionee was
not entitled to exercise the Option at the date of such termination, or if
Optionee does not exercise such Option to the extent so entitled within the time
specified herein, the Option shall terminate.

            (c)   Disability of Optionee. Notwithstanding the provisions of
Section 9(b) above, in the event of termination of an Optionee's Continuous
Status as an Employee or Consultant as a result of his total and permanent
disability (as defined in Section 22(e)(3) of the Code), Optionee may, but only
within twelve (12) months from the date of such termination (but in no event
later than the expiration date of the term of such Option as set forth in the
Option Agreement), exercise the Option to the extent otherwise entitled to
exercise it at the date of such termination. To the extent that Optionee was not
entitled to exercise the Option at the date of termination, or if Optionee does
not exercise such Option to the extent so entitled within the time specified
herein, the Option shall terminate.

            (d)   Death of Optionee. Notwithstanding the provisions of Section
9(b) above, in the event of the death of an Optionee while Optionee is an
Employee or Consultant, the Option may be exercised at any time within twelve
(12) months following the date of death (but in no event later than the
expiration date of the term of such Option as set forth in the Option
Agreement), by the Optionee's estate or by a person who acquired the right to
exercise the Option by bequest or inheritance, but only to the extent the
Optionee was entitled to exercise the Option at the date of death. To the extent
that Optionee was not entitled to exercise the Option at the date of
termination, or if Optionee does not exercise such Option to the extent so
entitled within the time specified herein, the Option shall terminate.

            (e)   Buyout Provisions. The Administrator may at any time offer to
buy out for a payment in cash or Shares, an Option previously granted, based on
such terms and conditions as the Administrator shall establish and communicate
to the Optionee at the time that such offer is made.

      10.   Non-Transferability of Options. Unless otherwise provided for by the
Administrator, the Option may not be sold, pledged, assigned, hypothecated,
transferred, or disposed of in any manner other than by will or by the laws of
descent or distribution and may be exercised, during the lifetime of the
Optionee, only by the Optionee.

      11.   Stock Withholding to Satisfy Withholding Tax Obligations. At the
discretion of the Administrator, Optionees may satisfy withholding obligations
as provided in this paragraph. When an Optionee incurs tax liability in
connection with an Option, which tax liability is subject to tax withholding
under applicable tax laws, and the Optionee is obligated to pay the Company an
amount

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required to be withheld under applicable tax laws, the Optionee may satisfy the
withholding tax obligation by electing to have the Company withhold from the
Shares to be issued upon exercise of the Option, if any, that number of Shares
having a Fair Market Value equal to the amount required to be withheld. The Fair
Market Value of the Shares to be withheld shall be determined on the date that
the amount of tax to be withheld is to be determined.

      12.   Adjustments Upon Changes in Capitalization, Merger or Asset Sale.
Subject to any required action by the stockholders of the Company, the number of
shares of Common Stock covered by each outstanding Option, and the number of
shares of Common Stock which have been authorized for issuance under the Plan
but as to which no Options have yet been granted or which have been returned to
the Plan upon cancellation or expiration of an Option, as well as the price per
share of Common Stock covered by each such outstanding Option, shall be
proportionately adjusted for any increase or decrease in the number of issued
shares of Common Stock resulting from a stock split, reverse stock split, stock
dividend, combination or reclassification of the Common Stock, or any other
increase or decrease in the number of issued shares of Common Stock effected
without receipt of consideration by the Company; provided, however, that
conversion of any convertible securities of the Company shall not be deemed to
have been "effected without receipt of consideration." Such adjustment shall be
made by the Board, whose determination in that respect shall be final, binding
and conclusive. Except as expressly provided herein, no issuance by the Company
of shares of stock of any class, or securities convertible into shares of stock
of any class, shall affect, and no adjustment by reason thereof shall be made
with respect to, the number or price of shares of Common Stock subject to an
Option.

            In the event of the proposed dissolution or liquidation of the
Company, the Board shall notify the Optionee at least fifteen (15) days prior to
such proposed action. To the extent it has not been previously exercised, the
Option will terminate immediately prior to the consummation of such proposed
action. In the event of a merger of the Company with or into another
corporation, or the sale of all or substantially all of the Company's assets,
the Option shall be assumed or an equivalent option shall be substituted by such
successor corporation or a parent or subsidiary of such successor corporation.
In the event that such successor corporation does not agree to assume the Option
or to substitute an equivalent option, the Board shall, in lieu of such
assumption or substitution, provide for the Optionee to have the right to
exercise the Option as to all of the Optioned Stock, including Shares as to
which the Option would not otherwise be exercisable. If the Board makes an
Option fully exercisable in lieu of assumption or substitution in the event of a
merger, the Board shall notify the Optionee that the Option shall be fully
exercisable for a period of fifteen (15) days from the date of such notice, and
the Option will terminate upon the expiration of such period.

      13.   Time of Granting Options. The date of grant of an Option shall, for
all purposes, be the date on which the Administrator makes the determination
granting such Option, or such other date as is determined by the Board. Notice
of the determination shall be given to each Employee or Consultant to whom an
Option is so granted within a reasonable time after the date of such grant.

      14.   Amendment and Termination of the Plan.

            (a)   Amendment and Termination. The Board may at any time amend,
alter, suspend or discontinue the Plan, but no amendment, alteration, suspension
or discontinuation shall be made which would impair the rights of any Optionee
under any grant theretofore made, without his or her consent.

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            (b)   Effect of Amendment or Termination. Any such amendment or
termination of the Plan shall not affect Options already granted and such
Options shall remain in full force and effect as if this Plan had not been
amended or terminated, unless mutually agreed otherwise between the Optionee and
the Board, which agreement must be in writing and signed by the Optionee and the
Company.

      15.   Conditions Upon Issuance of Shares. Shares shall not be issued
pursuant to the exercise of an Option unless the exercise of such Option and the
issuance and delivery of such Shares pursuant thereto shall comply with all
relevant provisions of law, including, without limitation, the Securities Act of
1933, as amended, the Exchange Act, the rules and regulations promulgated
thereunder, and the requirements of any stock exchange upon which the Shares may
then be listed, and shall be further subject to the approval of counsel for the
Company with respect to such compliance.

            As a condition to the exercise of an Option, the Company may require
the person exercising such Option to represent and warrant at the time of any
such exercise that the Shares are being purchased only for investment and
without any present intention to sell or distribute such Shares if, in the
opinion of counsel for the Company, such a representation is required by any of
the aforementioned relevant provisions of law.

      16.   Reservation of Shares. The Company, during the term of this Plan,
will at all times reserve and keep available such number of Shares as shall be
sufficient to satisfy the requirements of the Plan.

            The inability of the Company to obtain authority from any regulatory
body having jurisdiction, which authority is deemed by the Company's counsel to
be necessary to the lawful issuance and sale of any Shares hereunder, shall
relieve the Company of any liability in respect of the failure to issue or sell
such Shares as to which such requisite authority shall not have been obtained.

      17.   Agreements. Options shall be evidenced by written agreements in such
form as the Board shall approve from time to time.

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<PAGE>   8
                             NONSTATUTORY STOCK PLAN

                             STOCK OPTION AGREEMENT

      Unless otherwise defined herein, the terms defined in the Plan shall have
the same defined meanings in this Option Agreement.

I.    NOTICE OF STOCK OPTION GRANT

[Optionee's Name and Address]

      You have been granted an option to purchase Common Stock of the Company,
subject to the terms and conditions of the Plan and this Option Agreement, as
follows:

      Grant Number                        ______________

      Date of Grant                       ______________

      Vesting Commencement Date           ______________

      Exercise Price per Share            $_____________

      Total Number of Shares Granted      ______________

      Total Exercise Price                $_____________

      Type of Option:                     Nonstatutory Stock Option

      Term/Expiration Date:               ______________

      Vesting Schedule:                   ______________

      Subject to the Optionee continuing to be an Employee or Consultant on such
dates, this Option shall vest and become exercisable in accordance with the
following schedule:

      [25% of the Shares subject to the Option shall vest twelve months after
the Vesting Commencement Date, and 1/48th of the Shares subject to the Option
shall vest at the end of each one-month period thereafter.]

      Termination Period:

      This Option may be exercised for thirty days after Optionee ceases to be
an Employee or Consultant( or within such other period of time as is determined
by the Board). Upon the death or Disability of the Optionee, this Option may be
exercised for such longer period as provided in the Plan. In no event shall this
Option be exercised later than the Term/Expiration Date as provided above.

II.   AGREEMENT

      1.    Grant of Option. The Plan Administrator of the Company hereby grants
to the Optionee named in the Notice of Grant attached as Part I of this
Agreement (the "Optionee") an option (the "Option") to purchase the number of
Shares, as set forth in the Notice of Grant, at the exercise price per share set
forth in the Notice of

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<PAGE>   9
Grant (the "Exercise Price"), subject to the terms and conditions of the Plan,
which is incorporated herein by reference. Subject to Section 14(b) of the Plan,
in the event of a conflict between the terms and conditions of the Plan and the
terms and conditions of this Option Agreement, the terms and conditions of the
Plan shall prevail.

      2.    Exercise of Option.

            (1)   Right to Exercise. This Option is exercisable during its term
in accordance with the Vesting Schedule set out in the Notice of Grant and the
applicable provisions of the Plan and this Option Agreement.

            (2)   Method of Exercise. This Option is exercisable by delivery of
an exercise notice, in the form attached as Exhibit A (the "Exercise Notice"),
which shall state the election to exercise the Option, the number of Shares in
respect of which the Option is being exercised (the "Exercised Shares"), and
such other representations and agreements as may be required by the Company
pursuant to the provisions of the Plan. The Exercise Notice shall be completed
by the Optionee and delivered to Chief Financial Officer. The Exercise Notice
shall be accompanied by payment of the aggregate Exercise Price as to all
Exercised Shares. This Option shall be deemed to be exercised upon receipt by
the Company of such fully executed Exercise Notice accompanied by such aggregate
Exercise Price.

            No Shares shall be issued pursuant to the exercise of this Option
unless such issuance and exercise complies with Applicable Laws. Assuming such
compliance, for income tax purposes the Exercised Shares shall be considered
transferred to the Optionee on the date the Option is exercised with respect to
such Exercised Shares.

      3.    Method of Payment. Payment of the aggregate Exercise Price shall be
by any of the methods set forth in Section 8(b) of the Plan.

      4.    Non-Transferability of Option. This Option may not be transferred in
any manner otherwise than by will or by the laws of descent or distribution and
may be exercised during the lifetime of Optionee only by the Optionee. The terms
of the Plan and this Option Agreement shall be binding upon the executors,
administrators, heirs, successors and assigns of the Optionee.

      5.    Term of Option. This Option may be exercised only within the term
set out in the Notice of Grant, and may be exercised during such term only in
accordance with the Plan and the terms of this Option Agreement.

      6.    Tax Consequences. Some of the federal tax consequences relating to
this Option, as of the date of this Option, are set forth below. THIS SUMMARY IS
NECESSARILY INCOMPLETE, AND THE TAX LAWS AND REGULATIONS ARE SUBJECT TO CHANGE.
THE OPTIONEE SHOULD CONSULT A TAX ADVISER BEFORE EXERCISING THIS OPTION OR
DISPOSING OF THE SHARES.

            (1)   Exercising the Option. The Optionee may incur regular federal
income tax liability upon exercise of an NSO. The Optionee will be treated as
having received compensation income (taxable at ordinary income tax rates) equal
to the excess, if any, of the Fair Market Value of the Exercised Shares on the
date of exercise over their aggregate Exercise Price. If the Optionee is an
Employee or a former Employee, the Company will be required to withhold from his
or her compensation or collect from Optionee and pay to the applicable taxing
authorities an amount in cash equal to a percentage of this compensation income
at the time of exercise, and may refuse to honor the exercise and refuse to
deliver Shares if such withholding amounts are not delivered at the time of
exercise.

            (2)   Disposition of Shares. If the Optionee holds NSO Shares for at
least one year, any gain realized on disposition of the Shares will be treated
as long-term capital gain for federal income tax purposes.

                                      -2-
<PAGE>   10
      7.    Entire Agreement. The Plan is incorporated herein by reference. The
Plan and this Option Agreement constitute the entire agreement of the parties
with respect to the subject matter hereof and supersede in their entirety all
prior undertakings and agreements of the Company and Optionee with respect to
the subject matter hereof, and may not be modified adversely to the Optionee's
interest except by means of a writing signed by the Company and Optionee.

      8.    NO GUARANTEE OF CONTINUED SERVICE. OPTIONEE ACKNOWLEDGES AND AGREES
THAT THE VESTING OF SHARES PURSUANT TO THE VESTING SCHEDULE HEREOF IS EARNED
ONLY BY CONTINUING AS AN EMPLOYEE OR CONSULTANT AT THE WILL OF THE COMPANY (AND
NOT THROUGH THE ACT OF BEING HIRED, BEING GRANTED AN OPTION OR PURCHASING SHARES
HEREUNDER). OPTIONEE FURTHER ACKNOWLEDGES AND AGREES THAT THIS AGREEMENT, THE
TRANSACTIONS CONTEMPLATED HEREUNDER AND THE VESTING SCHEDULE SET FORTH HEREIN DO
NOT CONSTITUTE AN EXPRESS OR IMPLIED PROMISE OF CONTINUED ENGAGEMENT AS AN
EMPLOYEE OR CONSULTANT FOR THE VESTING PERIOD, FOR ANY PERIOD, OR AT ALL, AND
SHALL NOT INTERFERE WITH OPTIONEE'S RIGHT OR THE COMPANY'S RIGHT TO TERMINATE
OPTIONEE'S RELATIONSHIP AS AN EMPLOYEE OR CONSULTANT AT ANY TIME, WITH OR
WITHOUT CAUSE.

      By your signature and the signature of the Company's representative below,
you and the Company agree that this Option is granted under and governed by the
terms and conditions of the Plan and this Option Agreement. Optionee has
reviewed the Plan and this Option Agreement in their entirety, has had an
opportunity to obtain the advice of counsel prior to executing this Option
Agreement and fully understands all provisions of the Plan and Option Agreement.
Optionee hereby agrees to accept as binding, conclusive and final all decisions
or interpretations of the Administrator upon any questions relating to the Plan
and Option Agreement. Optionee further agrees to notify the Company upon any
change in the residence address indicated below.

OPTIONEE:                                  INTEGRATED SILICON SOLUTION, INC.

Signature: ___________________________     By:__________________________________

Print Name: __________________________     Title:_______________________________

Address: _____________________________
         _____________________________

                                      -3-
<PAGE>   11
                                    EXHIBIT A
                             NONSTATUTORY STOCK PLAN
                                 EXERCISE NOTICE

Gary Fischer
Integrated Silicon Solution, Inc.
2231 Lawson Lane
Santa Clara, CA  95054

      1.    Exercise of Option. Effective as of today, ________________, 199__,
the undersigned ("Purchaser") hereby elects to purchase ______________ shares
(the "Shares") of the Common Stock of Integrated Silicon Solution, Inc. (the
"Company") under and pursuant to the Nonstatutory Stock Plan (the "Plan") and
the Stock Option Agreement dated _______, 19___ (the "Option Agreement").
The purchase price for the Shares shall be $________, as required by the
Option Agreement.

      2.    Delivery of Payment. Purchaser herewith delivers to the Company the
full purchase price for the Shares.

      3.    Representations of Purchaser. Purchaser acknowledges that Purchaser
has received, read and understood the Plan and the Option Agreement and agrees
to abide by and be bound by their terms and conditions.

      4.    Rights as Shareholder. Until the issuance (as evidenced by the
appropriate entry on the books of the Company or of a duly authorized transfer
agent of the Company) of the Shares, no right to vote or receive dividends or
any other rights as a shareholder shall exist with respect to the Optioned
Stock, notwithstanding the exercise of the Option. The Shares so acquired shall
be issued to the Optionee as soon as practicable after exercise of the Option.
No adjustment will be made for a dividend or other right for which the record
date is prior to the date of issuance, except as provided in Section 13 of the
Plan.

      5.    Tax Consultation. Purchaser understands that Purchaser may suffer
adverse tax consequences as a result of Purchaser's purchase or disposition of
the Shares. Purchaser represents that Purchaser has consulted with any tax
consultants Purchaser deems advisable in connection with the purchase or
disposition of the Shares and that Purchaser is not relying on the Company for
any tax advice.

      6.    Entire Agreement. The Plan and Option Agreement are incorporated
herein by reference. This Agreement, the Plan and the Option Agreement
constitute the entire agreement of the parties with respect to the subject
matter hereof and supersede in their entirety all prior undertakings and
agreements of the Company and Purchaser with respect to the subject matter
hereof, and may not be modified adversely to the Purchaser's interest except by
means of a writing signed by the Company and Purchaser.

Submitted by:                          Accepted on _________, 19__ by:

PURCHASER:                             INTEGRATED SILICON SOLUTION, INC.

Signature: _________________________   By: _________________________________

Print Name: ________________________   Title: ______________________________

Address: ___________________________   Address:   2231 Lawson Lane
         ___________________________              Santa Clara, CA 95054Prepared by MerrillDirect

 

EXHIBIT 10(d)
– BEMIS RETIREMENT PLAN

 

 

 

 

 

 

BEMIS
RETIREMENT PLAN

(As Amended And Restated as of August 25, 2000)

 

 

 

 

 

 

 

 

 

 

 

 

 

BEMIS
RETIREMENT PLAN

(As
Amended And Restated as of August 25, 2000)

 

Table
of Contents

	
  ARTICLE I
  
	
       GENERAL
  
	
  Sec. 1.1  Name
  of Plan
  
	
  Sec. 1.2 
  Purpose
  
	
  Sec. 1.3 
  History of the Plan
  
	
  Sec. 1.4 
  Plan Year
  
	
  Sec. 1.5 
  Company
  
	
  Sec. 1.6 
  Participating Employer
  
	
  Sec. 1.7 
  Construction and Applicable Law
  
	
  Sec. 1.8 
  Benefits Determined Under Provisions in Effect at Termination of Employment
  
	
  Sec. 1.9 
  Transition Rules
  
	
  ARTICLE
  II
  
	
       MISCELLANEOUS DEFINITIONS
  
	
  Sec. 2.1 
  Accumulated Interest
  
	
  Sec. 2.2 
  Active Participant
  
	
  Sec. 2.3 
  Actuary
  
	
  Sec. 2.4 
  Administrator
  
	
  Sec. 2.5 
  Affiliate
  
	
  Sec. 2.6 
  Beneficiary
  
	
  Sec. 2.7 
  Board
  
	
  Sec. 2.8 
  Code.
  
	
  Sec. 2.9 
  Common Control
  
	
  Sec. 2.10 
  ERISA.
  
	
  Sec. 2.11 
  Fund
  
	
  Sec. 2.12 
  Funding Agency
  
	
  Sec.
  2.13  Leased Employee
  
	
  Sec.
  2.14  Named Fiduciary
  
	
  Sec.
  2.15  Normal Retirement Age
  
	
  Sec.
  2.16  Normal Retirement Date.
  
	
  Sec.
  2.17  Participant
  
	
  Sec. 2.18 
  Predecessor Employer
  
	
  Sec. 2.19 
  Qualified Employee
  
	
  Sec. 2.20 
  Successor Employer
  
	
  ARTICLE III
  
	
       SERVICE PROVISIONS
  
	
  Sec. 3.1 
  Employment Commencement Date
  
	
  Sec. 3.2 
  Termination of Employment
  
	
  Sec. 3.3 
  Recognized Break In Service
  
	
  Sec. 3.4 
  Elapsed Time
  
	
  Sec. 3.5 
  Credited Service
  
	
  Sec.
  3.6  Eligibility Computation Period
  
	
  Sec.
  3.7  Year of Eligibility Service
  
	
  Sec.
  3.8  Hour of Service
  
	
  Sec. 3.9 
  Service Rules at Columbus, Indiana Facility
  
	
  ARTICLE IV
  
	
       BENEFIT DEFINITIONS
  
	
  Sec. 4.1 
  Normal Retirement
  
	
  Sec. 4.2 
  Early Retirement
  
	
  Sec. 4.3 
  Disability Retirement
  
	
  Sec. 4.4 
  Vested Termination
  
	
  Sec. 4.5 
  Accrued Monthly Pension
  
	
  Sec. 4.6 
  Service Ratio
  
	
  Sec. 4.7 
  Monthly Earnings
  
	
  Sec.
  4.8  Final Average Earnings.
  
	
  Sec.
  4.9  Primary Social Security Benefit
  
	
  Sec. 4.10 
  “Actuarial Equivalent”, “Actuarial Value”, “Present Value”
  
	
  ARTICLE V
  
	
       PLAN PARTICIPATION
  
	
  Sec.
  5.1  Eligibility for Participation
  
	
  Sec.
  5.2  Duration of Participation
  
	
  Sec.
  5.3  No Guarantee of Employment
  
	
  ARTICLE VI
  
	
       PENSION BENEFITS
  
	
  Sec.
  6.1  Pension on Normal Retirement
  
	
  Sec.
  6.2  Pension on Early Retirement
  
	
  Sec.
  6.3  Pension on Disability Retirement
  
	
  Sec.
  6.4  Pension on Vested Termination
  
	
  Sec.
  6.5  Deduction for Other Pension
  Payments
  
	
  Sec.
  6.6  Amendments Affecting Pension
  Rights
  
	
  Sec.
  6.7  Suspension of Benefits and Effect
  of Reemployment
  
	
  Sec.
  6.8  Family Income Coverage
  
	
  Sec. 6.9 
  Effect of Participation in Variable Annuity Fund Prior to January 1,
  1969.
  
	
  Sec. 6.10 
  Preservation of Benefits Under Pre-1972 Formula.
  
	
  Sec. 6.11 
  Preservation of Benefits Under Pre-1997 Formula
  
	
  Sec. 6.12 
  Special Vested Termination Provisions For Employees At Certain
  Discontinued Operations.
  
	
  Sec. 6.13 Special Enhanced Benefit for Certain
  Employees at Stow, Ohio
  
	
  Sec.
  6.14 Increase in Benefits for Persons Whose Benefits Commenced Prior to
  January 1, 1990
  
	
  ARTICLE VII
  
	
       SURVIVOR'S BENEFITS
  
	
  Sec.
  7.1  Qualified Preretirement Survivor
  Annuity
  
	
  Sec.
  7.2  Qualified Joint and Survivor
  Annuity
  
	
  Sec.
  7.3  Election Procedure
  
	
  Sec.
  7.4  Optional Settlements
  
	
  Sec.
  7.5  Other Death Benefits
  
	
  ARTICLE VIII
  
	
       MISCELLANEOUS BENEFIT
  PROVISIONS
  
	
  Sec.
  8.1  Commencement Date for Pension
  Payments
  
	
  Sec.
  8.2  Payment of Small Amounts and
  Certain Consequences Thereof
  
	
  Sec.
  8.3  No Other Benefits
  
	
  Sec.
  8.4  Source of Benefits
  
	
  Sec.
  8.5  Incompetent Payee
  
	
  Sec.
  8.6  Assignment or Alienation of
  Benefits
  
	
  Sec.
  8.7  Payment of Taxes
  
	
  Sec.
  8.8  Conditions Precedent
  
	
  Sec. 8.9 
  Company Directions to Funding Agency
  
	
  Sec.
  8.10  Benefits Not Increased by
  Actuarial Gains
  
	
  Sec. 8.11 Pensions Not Decreased on Account of
  Certain Social Security Increases
  
	
  Sec.
  8.12  Maximum Limitations on Benefits
  
	
  Sec.
  8.13  Distributions Made in Accordance
  with Code §  401(a)(9)
  
	
  Sec.
  8.14  Deemed Cash-Out Upon Termination
  of Employment for Unvested Participants
  
	
  Sec.
  8.15  Rollovers and Transfers to Other
  Qualified Plans
  
	
  Sec.
  8.16  Special Benefit Limitation
  
	
  Sec. 8.17 
  Benefits of Reemployed Veterans
  
	
  ARTICLE IX
  
	
       FUND
  
	
  Sec.
  9.1  Composition
  
	
  Sec.
  9.2  Funding Agency.
  
	
  Sec.
  9.3  Compensation and Expenses of
  Funding Agency
  
	
  Sec.
  9.4  Securities and Property of
  Participating Employers
  
	
  Sec.
  9.5  No Diversion
  
	
  Sec.
  9.6  Employer Contributions
  
	
  ARTICLE X
  
	
       ACTUARY
  
	
  Sec.
  10.1  Appointment
  
	
  Sec.
  10.2  Responsibilities
  
	
  Sec.
  10.2  Compensation
  
	
  Sec.
  10.3  Resignation, Removal, and
  Successor
  
	
  ARTICLE XI
  
	
       ADMINISTRATION OF PLAN
  
	
  Sec.
  11.1  Administration by Company
  
	
  Sec.
  11.2  Certain Fiduciary Provisions
  
	
  Sec.
  11.3  Evidence
  
	
  Sec.
  11.4  Correction of Errors
  
	
  Sec.
  11.5  Records
  
	
  Sec.
  11.6  Claims Procedure
  
	
  Sec.
  11.7  Bonding
  
	
  Sec.
  11.8  Waiver of Notice
  
	
  Sec.
  11.9  Agent For Legal Process
  
	
  Sec.
  11.10 Indemnification
  
	
  ARTICLE XII
  
	
       AMENDMENT,
  TERMINATION, MERGER
  
	
  Sec.
  12.1  Amendment
  
	
  Sec.
  12.2  Discontinuance of Joint Participation
  in Plan by a Participating Employer
  
	
  Sec.
  12.3  Reorganization of Participating
  Employers
  
	
  Sec.
  12.4  Termination
  
	
  Sec.
  12.5  Partial Termination
  
	
  Sec.
  12.6  Merger, Consolidation, or
  Transfer of Plan Assets
  
	
  Sec.
  12.7  Deferral of Distributions
  
	
  ARTICLE XIII
  
	
       MISCELLANEOUS
  PROVISIONS
  
	
  Sec.
  13.1  Insurance Company Not
  Responsible for Validity of Plan
  
	
  Sec.
  13.2  Headings
  
	
  Sec.
  13.3  Capitalized Definitions
  
	
  Sec.
  13.4  Gender
  
	
  Sec.
  13.5  Use of Compounds of Word “Here”
  
	
  Sec.
  13.6  Construed as a Whole
  
	
  ARTICLE XIV
  
	
       TOP-HEAVY PLAN
  PROVISIONS
  
	
  Sec.
  14.1  Key Employee Defined
  
	
  Sec.
  14.2  Determination of Top-Heavy
  Status
  
	
  Sec.
  14.3  Minimum Accrued Benefit
  
	
  Sec.
  14.4  Vesting Schedule
  
	
  Sec.
  14.5  Definition of Employer
  
	
  Sec.
  14.6  Exception For Collective
  Bargaining Unit
  
	
  Schedule A
  
	
  Appendix A
  
	
  Appendix B
  
	
  Appendix C
  
	
  Appendix D
  
	
  Appendix E
  

 

 

BEMIS
RETIREMENT PLAN

(2000 Restatement)

ARTICLE
I

GENERAL

          Sec. 1.1  Name of Plan.  The name of the pension plan set forth
herein is “Bemis Retirement Plan”.  It
is sometimes herein referred to as the “Plan”.

          Sec. 1.2  Purpose.  The Plan has been established so that
eligible employees will have a source of retirement income in addition to the
other sources of retirement income available to them.

          Sec. 1.3  History of the Plan.  The Company on December 21, 1945
established the Bemis Bro.  Bag Company
Retirement Income Plan and Trust (sometimes referred to as “S&RIP”), under
which retirement benefits were to be provided for eligible employees.  Subsequently, on March 12, 1958 the
Company estab­lished the Bemis Bro. Bag Company Supplemental Pension Plan
(sometimes referred to as “SPP”). 
Thereafter, the two plans were amended and combined into one plan, the
Bemis Retirement Plan, said amendment being effective as of December 31,
1961 for the S&RIP and as of January 1, 1962 for the SPP.  Subsequently, the Plan was amended from time
to time.

          Sec. 1.4  Plan Year. 
A “Plan Year” is the 12-consecutive-month period commencing on
January 1 and is the year on which records of the Plan are kept.

          Sec. 1.5  Company.  The “Company” is Bemis Company, Inc., a
Missouri corporation, and any Successor Employer thereof.

          Sec. 1.6  Participating
Employer.  The Company is a Participating Employer in
the Plan.  With the consent of the
Company, any other employer may also become a Participating Employer effective
as of a date specified by it in its adoption of the Plan.  Also with such consent, any such adopting
employer may modify the provisions of the Plan as they shall be applicable to
its employees.  Any Successor Employer
to a Participating Employer shall also be a Participating Employer in the
Plan.  The other Participating Employers
on January 1, 2000 are:

(a)    Banner
Packaging, Inc., a Wisconsin corporation.

(b)    Bemis Custom
Products, Inc., a Texas corporation.

(c)    Bemis Custom
Products Shelbyville, Inc., a Tennessee corporation.

(d)    Curwood,
Inc. a Delaware corporation.

(e)    Electronic
Printing Products, Inc., an Ohio corporation.

(f)     MacKay Inc.,
a Kentucky corporation.

(g)    MACtac
Engineered Products, Inc., an Ohio corporation.

(h)    Milprint,
Inc., a Wisconsin corporation.

(i)     Morgan
Adhesives Company, an Ohio corporation.

(j)     Perfecseal,
Inc., a Delaware corporation.

          

          

          Sec. 1.7  Construction and Applicable Law. 
The Plan is intended to meet the requirements for qualification under
Code § 401(a).  The Plan is also
intended to be in full compli­ance with applicable requirements of ERISA. The
Plan shall be administered and construed consistent with said intent.  It shall also be construed and administered
according to the internal, substantive laws of the State of Minnesota (without
regard to the conflict of law rules of the State of Minnesota or of any other
jurisdiction) to the extent that such laws are not preempted by the laws of the
United States of America.  All
controversies, disputes, and claims arising hereunder shall be submitted to the
United States District Court for the District of Minnesota.

          Sec. 1.8  Benefits Determined
Under Provisions in Effect at Termination of Employment.  Except as may be specifically provided
herein to the contrary, with respect to a Partic­ipant whose Termination of
Employment has occurred, benefits under the Plan attributable to service prior
to his or her Termination of Employment shall be determined and paid in
accordance with the provisions of the Plan as in effect on the date the
Participant’s Termination of Employment occurred unless he or she becomes an
Active Participant after that date and such active participation causes a
contrary result under the provisions hereof.

          Sec.  1.9  Transition Rules. 
Certain provisions of the Plan as amended and restated in 2000 are
intended to comply with law changes which have earlier effective dates.  In all cases, Plan provisions required by
law are effective as of the date required by the applicable legislation.  Such changes include the following:

(a)      Sec. 8.17
regarding military service is effective as of December 12, 1994.

(b)      Certain
provisions are intended to reflect and comply with certain provisions of (and
legal changes made by) the Small Business Job Protection Act of 1996, P.L.
104-88 (“SBJPA”) and the Taxpayer Relief Act of 1997, P.L. 105-34 (“TRA
97”).  These provisions will be
effective as of the required dates, and the Plan will be applied and
interpreted in a manner that is consistent with a good faith interpretation of
the applicable legal requirements.

ARTICLE
II

MISCELLANEOUS
DEFINITIONS

          Sec.  2.1  Accumulated Interest.  “Accumulated Interest” respecting employee
contributions made prior to their discontinuance effective January 1, 1972
and respecting the cash value of certain annuity contracts purchased in 1962
shall be deter­mined as follows:

(a)      Accumulated
Interest for years prior to 1976 shall be determined according to the
provisions of the Plan as in effect on December 31, 1975.

(b)      Accumulated
Interest for years after 1975 and prior to 1988 shall be computed at the annual
rate of 5% per year, compounded annually.

(c)      Accumulated
Interest for years after 1987 shall be computed at an annual rate equal to 120%
of the federal mid-term rate for January of the particular plan year.

Accumulated Interest shall be determined to the
first day of the month in which said determination is to be made, but not later
than the date as of which benefits with respect to the Partic­ipant commence
under the Plan.  If a retroactive
pension payment is made with respect to a Participant, Accumulated Interest
will not accrue after the first day of the earliest month with respect to which
the retroactive payment is made.

          Sec. 2.2  Active Participant.  An employee is an “Active Participant” only
while both a Participant and a Qualified Employee.

          Sec. 2.3  Actuary.  “Actuary” means the individual, partnership,
corporation, or other organization appointed and acting as such from time to
time pursuant to Article X.

          Sec. 2.4  Administrator.  The Company is the “Admin­istrator” of the
Plan for purposes of ERISA.

          Sec. 2.5  Affiliate. 
“Affiliate” means any trade or business entity under Common Control with
a Participating Employer, or under Common Control with a Predecessor Employer
while it is such.

          Sec. 2.6  Beneficiary.  A “Beneficiary” is the person or persons,
natural or otherwise, designated by a Participant or former Participant to
receive any benefit payable under the Plan in the event of the Participant’s
death except the benefits payable to his or her spouse pursuant to Sec. 7.1 or
7.2 or to a joint or contingent annuitant. 
A Participant who has designated a Beneficiary may, without the consent
of such Beneficiary, alter or revoke such designation.  To be effective, any such designation,
alteration, or revocation shall be in writing, in such form as the Company may
prescribe, and shall be filed with the Company prior to the Participant’s
death.  If at the time a death benefit
becomes payable there is not on file with the Company a fully effectual
designation of Beneficiary, or if the designated Beneficiary does not survive
the Participant, the Beneficiary shall be the person or persons surviving the
Participant in the first of the following classes in which there is a survivor,
share and share alike:

(a)      the
Participant’s spouse;

(b)      the
Participant’s children, except that if any children pre­decease the Participant
but leave issue surviving the Participant such issue shall take by right of
representation the share their parent would have taken if living;

(c)      the
Participant’s parents;

(d)      the
Participant’s brothers and sisters;

(e)      the
Participant’s personal representative or representatives (execu­tors or
administrators).

Determination of who the Beneficiary is in each
case shall be made by the Company.

          Sec. 2.7  Board.  The “Board” is the board of directors of
the Company, and includes any executive committee thereof authorized to act for
said board of directors.

          Sec. 2.8  Code. 
“Code” means the Internal Revenue Code of 1986 as from time to time
amended.

          Sec. 2.9  Common Control.  A trade or business entity (whether a
corporation, partnership, sole proprietorship or otherwise) is under “Common
Control” with another trade or business entity (i) if both entities are
corporations which are members of a controlled group of corporations as defined
in Code §  414(b), or (ii) if both
entities are trades or businesses (whether or not incorporated) which are under
common control as defined in Code § 
414(c), or (iii) if both entities are members of an affiliated service
group as defined in Code §  414(m), or
(iv) if both entities are required to be aggregated pursuant to regulations
under Code §  414(o).  In applying the preceding sentence for
purposes of Sec. 8.12, the provisions of Code §  414(b) and (c) are deemed to be modified as provided in Code
§  415(h).

          Sec. 2.10  ERISA. 
“ERISA” means the Employee Retirement Income Security Act of 1974 as from
time to time amended.

          Sec. 2.11  Fund.  “Fund” means the aggregate of assets
described in Sec. 9.1.

          Sec. 2.12  Funding Agency. 
“Funding Agency” is a trustee or trustees or an insurance company
appointed and acting from time to time in accordance with the provisions of
Sec. 9.2 for the purpose of holding, investing, and disbursing all or a part of
the Fund.

          Sec. 2.13  Leased Employee. 
“Leased Employees” within the meaning of Code §  414(n)(2) and individuals who would meet
those requirements but for failure to complete a year of leased service shall
be counted as employees for purposes of determining Elapsed Time, but not for
purposes of determining Credited Service.

          Sec. 2.14  Named Fiduciary. 
The Company is a “Named Fiduciary” for purposes of ERISA with authority
to control or manage the operation and administration of the Plan, including
control or management of the assets of the Plan.  Other persons are also Named Fiduciaries if so provided by ERISA
or if so identified by the Company. Such other person or persons shall have
such authority to control or manage the operation and administration of the
Plan, including control or management of the assets of the Plan, as may be
provided by ERISA or as may be allocated by the Company.

          Sec. 2.15  Normal Retirement
Age   A Participant’s “Normal Retirement Age”
shall be determined as follows, according to his or her year of birth:

	 
  	
  Year
  of Birth
  
  

  
  	
  Normal Retirement Age
  
  

  

  
	 
  	
  Before
  1943
  	
  65
  
	 
  	
  1943
  - 1959
  	
  66
  
	 
  	
  1960
  and after
  	
  67
  

However, if a Participant’s earliest Employment
Commencement Date is on or after March 1, 2000 and is on or after the date the
Participant attains age 62, his or her Normal Retirement Age is not earlier
than the third annual anniversary of his or her date of hire.  For example, if a Participant is hired July
1, 2000 and is 62 or older on the date of hire, “Normal Retirement Age” is July
1, 2003, three years after the date of hire.

          Sec. 2.16  Normal Retirement
Date. 
“Normal Retirement Date” is the last day of the month in which a person
attains Normal Retirement Age.

          Sec. 2.17  Participant. 
A “Participant” is an indi­vidual described as such in Article V.

          Sec. 2.18  Predecessor Employer. 
Any corporation, partnership, firm, or individual, a substantial part of
the assets and employees of which are acquired by a successor, is a
“Predecessor Employer” if named in this section and subject to any conditions
and limitations with respect thereto imposed by this section.  To be considered a Predecessor Employer, the
acquisition of assets and employees of a corpora­tion, partnership, firm, or
individual must be by a Participating Employer, by an Affiliate, or by another
Predecessor Employer.  As of January 1,
1999, there are no Predecessor Employers.

          Sec. 2.19  Qualified Employee. 
“Qualified Employee” means each employee described in (1), (2) or (3) of
subsection (a), subject to the provisions of subsections (b) through (h):

 (a)     Qualified
Employees includes:

(1)      Employees of
a Participating Employer who are compensated in whole or in part on a regular
stated salary basis.

(2)      Employees
who are paid hourly, for regular straight time at a Covered Location listed in
Schedule A, provided, however, that an hourly paid employee at a location
listed in Schedule A is not a Qualified Employee prior to the effective date
shown in Schedule A for the particular location.

(3)      Hourly paid
employees of a Participating Employer who are employed in an office clerical or
supervisory position, but only for service after December 31, 1999.  (Prior to 2000, such employees participated
in the  Bemis Company, Inc. Retirement
Plan for Bemis Hourly Employees.)

(4)      Hourly paid
non-bargaining unit employees of a Participating Employer at bargaining unit
locations, but only for service after December 31, 1999.

(b)      Except as to
employees of the Company, an employee is not a Qualified Employee prior to the
date as of which his employer becomes a Participating Employer.

(c)      A
non-resident alien while not receiving earned income (within the meaning of
Code §  911(d)(2)) from a Participating
Employer which constitutes income from sources within the United States (within
the meaning of Code §  861(a)(3)) is not
a Qualified Employee.

(d)      Eligibility
of employees in a collective bargaining unit to participate in the Plan shall
be subject to negotiations with the representative of that unit. During any
period that an employee is covered by the provisions of a collective bargaining
agreement between a Participating Employer and such representative he or she
shall not be considered a Qualified Employee for purposes of this Plan unless
such agreement expressly so provides. 
For purposes of this section only, such an agreement shall be deemed to
continue after its formal expiration during collective bargaining negotia­tions
pending the execution of a new agreement.

(e)      An employee
shall be deemed to be a Qualified Employee during a period of absence from
active service which does not result from Termination of Employment, provided
he or she is a Qualified Employee at the commencement of such period of
absence.

(f)       A salaried,
office clerical, or supervisory employee is not a Qualified Employee during any
period of employment prior to January 1, 1997 at a location listed in this
subsection.  However, this exclusion
does not apply to service at these locations on or after January 1, 1997.  Also, this exclusion does not apply in cases
where the Plan as in effect prior to 1997 recognized service at one of these locations
as Credited Service because the individual transferred to the location after
attaining age 35.

(1)  Bemis Custom Products (formerly Paramount
Texas).

(2)  Banner
Oshkosh.

(3)  Fremont.

(4)  Hazleton.

(5)  MACtac
Scranton.

(6)  Milprint Corporate
- Oshkosh.

(7)  Milprint
Denmark.

(8)  Milprint
Lancaster.

(9)  Milprint
Lebanon.

(10)  Perfecseal Philadelphia.

(g)      The Plan as
in effect prior to January 1, 1997 excluded employees at the following
locations.  Effective as of January 1,
1997, employees at these locations are no longer excluded.  Service prior to January 1, 1997 is
recognized as provided:

(1)      Non-exempt
employees at the Nellis, Nevada plant of Morgan Adhesives, Inc. are Qualified
Employees from the date of hire.

(2)      Salaried
employees at Perfecseal Oshkosh (formerly Cur-Med) are Qualified Employees from
the date of hire or date of acquisition by the Company, if later.

(h)      An employee
is not a Qualified Employee during any period of employment prior to January 1,
1998 at Bemis Custom Products Shelbyville (formerly Paramount Tennessee).  This exclusion does not apply to service at
this location on or after January 1, 1998.

(i)       An employee
is not a Qualified Employee during any period of employment at one of the
following locations:

(1)      Enterprise
Software, Inc.

(2)      Paramount
Chalfont.

          Sec. 2.20  Successor Employer. 
A “Successor Employer” is any entity that succeeds to the business of a
Participating Employer through merger, consolidation, acquisition of all or
substantially all of its assets, or any other means and which elects before or
within a reasonable time after such succession, by appropriate action evidenced
in writing, to continue the Plan; provided, however, that in the case of such
succession with respect to any Participating Employer other than the Company,
the acquiring entity shall be a Successor Employer only if consent thereto is
granted by the Company.

ARTICLE
III

SERVICE
PROVISIONS

          Sec. 3.1  Employment
Commencement Date. 
“Employment Commencement Date” means the date on which a person first
becomes an employee of a Participating Employer (whether before or after the
Participating Employer becomes such), an Affiliate, or a Predecessor Employer.

          Sec. 3.2  Termination of
Employment. 
The “Termination of Employment” of an employee for purposes of the Plan
shall be deemed to occur on the date of resignation, discharge, retirement,
death, failure to return to active work at the end of an authorized leave of
absence or the authorized extension or extensions thereof, failure to return to
work when duly called following a temporary layoff, or upon the happening of
any other event or circumstance which, under the policy of his Participat­ing
Employer, Affiliate, or Predecessor Employer as in effect from time to time,
results in the termination of the employer-­employee relationship; provided, however,
that “Termination of Employment” shall not be deemed to occur upon a transfer
between any combination of Participating Employers, Affiliates, and Predecessor
Employers.  If a Participant becomes
eligible to receive benefits under a long-term disability program sponsored by
his or her employer, Termination of Employment for purposes of the Plan will be
deemed not to have occurred until termination of the Participant’s benefits
under such long-term disability program.

          Sec. 3.3  Recognized Break In
Service. 
A “Recognized Break in Service” is a period of at least 12 consecutive
months duration which begins on the day on which an individual’s Termination of
Employment occurs.  A Recognized Break
In Service ends, if ever, on the day on which the individual again becomes an
employee of a Participating Employer, an Affiliate or a Predecessor Employer.

(a)      If an
individual is absent from work for maternity or paternity reasons, the 12–month
period beginning with the first day of such absence shall not be included in a
Recognized Break In Service.

(b)      For purposes
of this paragraph, an absence from work for maternity or paternity reasons
means an absence (i) by reason of the pregnancy of the individual, (ii) by reason
of a birth of a child of the individual, (iii) by reason of the placement of a
child with the individual in connection with the adoption of such a child by
such individual, or (iv) for purposes of caring for such child for a period
beginning immediately following such birth or placement.

          Sec. 3.4  Elapsed Time. 
A Participant’s “Elapsed Time” is equal to the aggregate time elapsed
between his or her Employment Commencement Date and his or her most recent
Termination of Employment or any other date as of which a determination of
Elapsed Time is to be made, expressed in years and days, reduced as follows:

(a)      All
Recognized Breaks In Service shall be subtracted. Any periods that would have
been included in a Recog­nized Break In Service if Sec. 3.3(a) did not apply
shall also be subtracted.

(b)      With respect
to employers participating in the Plan on December 31, 1969, service rendered
by an employee prior to the date his or her employer adopted the Plan shall be
recognized as Elapsed Time only to the extent service with the employer was
recognized as continuous service under the Plan as in effect on
December 31, 1969; provided, however, that service with Jaite Paper Bag
Company; Claremont Paper Mills, Inc.; W. T. Winn Company; Cello-Vision
Corporation; Clear Bag–Winnpak, Inc.; and Mountain Paper Products
Corporation shall be included in Elapsed Time.

(c)      Except as
otherwise specifically provided herein, service with an employer prior to the
date it becomes a Participating Employer or Affiliate shall not be included in
an employee’s Elapsed Time.  However, if
a Participant was an employee of any entity listed in this subsection
immediately prior to the acquisition of that entity or some or all of its
assets by the Company or an Affiliate, the Participant’s Elapsed Time for
purposes of determining vesting under the Plan and for purposes of determining
eligibility for an Early Retirement benefit, Disability Retirement benefit, or
Qualified Preretirement Survivor Annuity shall include continuous service
beginning on the Participant’s last date of hire prior to such acquisition
date.  However, the pre-acquisition
service is not recognized as Credited Service. 
Preacquisition service at locations acquired before 1981 is recognized to
the extent provided in Sec. 3.4(c) of the Plan as in effect on January 1, 1994.

(1)      Milprint,
Inc., acquired September 28, 1990.

(2)      Princeton
Packaging Co., from which the Company acquired certain plants on February 4,
1993.

(3)      Fitchburg
Coated Products, a division of Technographics, Inc., from which the MACtac
Scranton facility was acquired on January 3, 1994.

(4)      Hargro
Health Care Packaging, acquired January 20, 1994.

(5)      Banner
Packaging, Inc., acquired October 5, 1995 and the predecessor corporation which
operated the Banner plant before acquisition by Bemis.

(6)      Paper
Manufacturers Company (PMCO), from which the Perfecseal operations of the
Company were acquired April 29, 1996.

(7)      Paramount
Packaging Corporation, acquired January 1, 1997.

(8)      MACtac
Electronic Printing Products, Inc. and its predecessor, Gum Products of
America, acquired March 17, 1997.

(9)      Viskase
Companies, Inc., from which certain operations were acquired in 2000.

(d)      If an
employee has a Termination of Employment and is later rehired by a
Participating Employer or Affiliate, his or her Elapsed Time prior to said
Termination of Employment shall not be disregarded by reason of said
Termination of Employment.

(e)      Elapsed Time
includes service in Brazil as an employee of ITAP/BEMIS, Ltda., provided such
service is recognized as Credited Service pursuant to Sec. 3.5(a)(6).

          Sec. 3.5  Credited Service. 
A Participant’s “Credited Service” shall be equal to his or her Elapsed
Time, subject to the following:

(a)      Credited
Service does not include service when the employee was not a Qualified
Employee, except as follows:

(1)      An employee
who was a Qualified Employee on January 1, 1976 shall be deemed to be a
Qualified Employee during periods of service prior to said date during which he
or she would have been a Qualified Employee but for the fact he or she was
neither compensated in whole or in part on a regular stated salary basis nor
employed in an office clerical position. 
Credited Service for the period prior to January 1, 1976 shall be
adjusted to reflect such additional service as a Qualified Employee.

(2)      If a former
employee was not an employee of a Participating Employer or Affiliate on
January 1, 1976 but subsequently was re-employed and became a Qualified
Employee upon re-employment, he or she shall be deemed to be a Qualified
Employee during periods of service prior to January 1, 1976 during which
he or she would have been a Qualified Employee but for the fact he or she was
neither compensated in whole or in part on a regular stated salary basis nor
employed in an office clerical position; provided, however, that he or she
shall not be deemed to be a Qualified Employee for any such additional period
with respect to which he or she is eligible to receive a vested benefit
pursuant to any other pension plan that meets the requirements of Code §  401(a). 
Credited Service for the period prior to January 1, 1976 shall be
adjusted to reflect such additional service as a Qualified Employee.

(3)      Except as
provided in the following sentence, service in Canada as an employee of a
Participating Employer or Affiliate is not recognized as Credited Service.  However, if an employee of MACtac-Canada
Limited transferred to a position as a Qualified Employee in the United States,
and the transfer occurred on or after January 1, 1994 and on or before July 1,
1996, the service in Canada will be included in Credited Service, subject to
the limitations in (b) and (e).

(4)      If a
Participant is a Qualified Employee on December 31, 1986 and during the
period January 1, 1976 through December 31, 1986 he or she
transferred from an hourly paid position with Lustour Corporation or with
Lustour’s MacKay Engraving operation to a position as a Qualified Employee of
Lustour or MacKay, his or her Credited Service shall include service as an
hourly paid employee of Lustour or MacKay from the later of (i) the date the
Company acquired Lustour (which was on or about August 1, 1968) or (ii)
the individual’s last Employment Commencement Date preceding the date of
transfer.  However, said additional
Credited Service is subject to the limitations in subsections (b) and (e).

(5)      If an
employee was an Active Participant on April 30, 1997, his or her Credited
Service will include Elapsed Time as an employee of Master Palletizer Systems,
Inc. on or after June 18, 1985.

(6)      If a
Participant transfers from a position as a Qualified Employee in the United
States to a position in Brazil as an employee of ITAP/BEMIS Ltda., later
returns to a position as a Qualified Employee in the United States, and remains
a Qualified Employee for at least 12 months after the transfer back to the
United States, his or her service in Brazil will be recognized as Credited
Service.

(b)      A
Participant whose Termination of Employment occurs on or before June 30, 1999,
will not accrue Credited Service for a Plan Year prior to 1985 if he or she did
not attain age 25 on or before the last day of the Plan Year.  The foregoing exclusion is not applicable in
any case where the Participant’s Termination of Employment occurs on or after
July 1, 1999.

(c)      Service with
an employer prior to the date it becomes a Participating Employer is not
included in Credited Service, except as follows:

(1)      Such service
prior to January 1, 1976 shall be included in Credited Service to the
extent provided in the Plan as in effect on December 31, 1975.

(2)      Such service
shall be included in Credited Service to the extent provided in any applicable
appendix to the Plan.

(3)      In the case
of any Participant who was an employee of Arnoldware-Rogers, Inc., a Vermont
corporation, immediately prior to the acquisition of said corporation by the
Company in 1980 and who was a Qualified Employee on January 1, 1987,
Credited Service shall include continuous service beginning on his or her last
date of hire prior to said acquisition date and ending on said acquisition
date.  However, said additional Credited
Service shall be limited to service as a salaried, office clerical, or
supervisory employee, and is subject to the limitations in subsection (b).

(4)      If a
Participant is a Qualified Employee on October 31, 1996, and had service as a
salaried, office clerical, or supervisory employee of Sackner Products, Inc.
(“Sackner”) on or after June 30, 1966 (the date the Company acquired Sackner)
and prior to January 1, 1982 (the date Sackner became a Participating
Employer), his or her Credited Service shall include such service, subject to
subsection (b), which excludes certain service before the Plan Year the
Participant attains age 25.

(d)      If a leave
of absence or layoff continues for longer than 365 calendar days, the period of
such leave of absence or layoff in excess of 365 calendar days shall not be
counted as Credited Service.  However,
the foregoing limitation does not apply to periods while the Participant is
receiving long term disability benefits under a long term disability plan
sponsored by a Participating Employer.

(e)      If a
Participant withdrew employee contributions or received a single sum
distribution in lieu of a monthly pension, his or her Credited Service will be
disregarded if so provided in the Plan provision pursuant to which the
withdrawal or distribution occurred.

          Sec. 3.6  Eligibility
Computation Period. 
An employee’s first Eligibility Computation Period is the
12-consecutive-month period beginning on his or her Employment Commencement
Date.  His or her second Eligibility Computation
Period is the Plan Year commencing in said 12-consecutive-month period.  Each subsequent Plan Year prior to the end
of the Plan Year in which the employee has a 1-Year Break in Service is an
Eligibility Computation Period. If subsequent to a 1-Year Break in Service the
employee had another Employment Commencement Date, Eligibility Computation
Periods for the period beginning on such date shall be computed as though such
date were the first Employment Commencement Date.

          Sec. 3.7  Year of Eligibility
Service. 
A “Year of Eligibility Service” means an Eligibility Computation Period
in which an employee completes 1000 or more Hours of Service.  If an employee has a Termination of
Employment and is later rehired by a Participating Employer or Affiliate, Years
of Eligibility Service prior to said Termination of Employment shall not be
disregarded by reason of said Termination of Employment.  If a period of preacquisition service at a
location is recognized as Elapsed Time for vesting under Sec. 3.4, Hours of
Service during that period will also be recognized for purposes of determining
Years of Eligibility Service.

          Sec. 3.8  Hour of Service. 
An “Hour of Service” or “Hours of Service” are determined according to
the following subsections with respect to each applicable computation period:

(a)      Hours of
Service are computed only with respect to service with Participating Employers
(for service both before and after the Participating Employer becomes such),
Affiliates, and Predecessor Employers and are aggregated for service with all
such employers.

(b)      For any
portion of a computation period during which an individual is within a
classification for which a record of hours for the performance duties is
maintained, Hours of Service shall be credited as follows:

(1)      Each hour
for which the employee is paid, or entitled to payment, for the performance of
duties for his or her employer during the applicable computation period is an
Hour of Service.

(2)      Each hour
for which the employee is paid, or entitled to payment, by his or her 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, is an Hour of Service, subject to the
following:

(A)     An hour for
which the 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 worker’s compensation,
unemployment compensation, or disability insurance laws.

(B)     Hours of
Service shall not be credited for a payment which solely reimburses the
individual for medical or medically related expenses.

(C)     For purposes
of this paragraph a payment shall be deemed to be made by or due from an
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.

(3)      Each hour
for which back pay, irrespective of mitigation of damages, is either awarded or
agreed to by the employer is an Hour of Service.  Crediting of Hours of Service for back pay awarded or agreed to
with respect to periods described in paragraph (2) shall be subject to the
limitations set forth in that paragraph. 
Such Hours of Service shall be credited to the computation period or
periods to which the award or agreement for back pay pertains, rather than to
the computation period in which the award, agreement or payment is made.

(4)      Hours under
this subsection shall be calculated and credited pursuant to section
2530.200b-2 of the Department of Labor Regulations, which are incorporated
herein by this reference.

(5)      The Company
may use any record to determine Hours of Service which it considers an accurate
reflection of the actual facts.

(c)      For any
portion of a computation period during which an employee is within a
classification for which a record of hours for the performance of duties is not
maintained, he or she shall be credited with 190 Hours of Service for each
month for which he or she would otherwise be credited with at least one Hour of
Service under subsection (b).

(d)      If an
employee becomes eligible to receive benefits under a sickness and accident
program sponsored by his or her employer, his or her Hours of Service, when
aggregated with the Hours of Service to which he or she is entitled with
respect to said period of absence pursuant to the foregoing provisions of this
section, shall be equal to 190 Hours of Service for each month for which
sickness and accident benefits are paid.

(e)      Nothing in
this section shall be construed as denying an employee credit for an Hour of
Service if credit is required by any federal law other than ERISA.  The nature and extent of such credit shall
be determined under such other law.

(f)       In no event
shall duplicate credit as an Hour of Service be given for the same hour.

          Sec. 3.9  Service Rules at
Columbus, Indiana Facility.  Certain individuals working at Morgan
Adhesives Company’s Columbus, Indiana facility will be employed initially by a
temporary staffing agency and will become employees of Morgan Adhesives Company
after completing approximately 480 hours or 90 days of service with the
agency.  In such cases, the individual’s
service with the agency at Morgan’s Columbus facility will be recognized under
this Plan for purposes of determining Years of Eligibility Service, Elapsed
Time and Credited Service.

ARTICLE
IV

BENEFIT
DEFINITIONS

          Sec. 4.1  Normal Retirement. 
“Normal Retirement” means Termination of Employment of a Participant
(except termination by his death) occurring on or after the date he or she
attains Normal Retirement Age.

          Sec. 4.2  Early Retirement. 
“Early Retirement” means any Termination of Employment of a Participant
(except termina­tion by his or her death) (i) after he or she has both attained
age 55 and completed 10 years of Elapsed Time and (ii) before he or she attains
Normal Retirement Age.

          Sec. 4.3  Disability Retirement. 
If the Company deter­mines upon the basis of competent medical advice
that the Ter­mination of Employment of a Participant occurred because he or she
is permanently disabled by bodily injury or disease from performing the regular
duties of his or her position with a Participating Employer, and if at the time
of such Termination of Employment the Participant has attained age 50 and
completed 10 years of Elapsed Time, such Termination of Employment shall be
considered to be a “Disability Retirement.” 
Notwithstanding any provision of the Plan to the contrary, if a
Participant becomes eligible to receive benefits under a Participating
Employer’s long term disability program, his or her Termination of Employment
will be deemed not to have occurred until the termina­tion of benefits under
such long term disability program. Prior to the termination of such benefits,
he or she shall be considered to be a Qualified Employee and Monthly Earnings
shall be deemed to remain the same as last determined.

          Sec. 4.4  Vested Termination. 
“Vested Termination” means any Termination of Employment of a
Participant (except termination by his death) that occurs after he or she
completes 5 years of Elapsed Time and that is not defined herein as a form of
retirement.

          Sec. 4.5  Accrued Monthly
Pension. A Participant’s “Accrued Monthly
Pension” is the amount in (a) or (b), whichever is applicable, but not less
than any minimum amount for which the Participant is eligible under (c), (d),
(e), (f) or (g):

(a)      If the
Participant’s Termination of Employment occurs before he or she has both
attained age 55 and completed 10 or more years of Elapsed Time, the Accrued
Monthly Pension is the product of (1), (2) and (3):

(1)      50% of the
Participant’s Final Average Earnings minus 50% of his or her Primary Social
Security Benefit.

(2)      The amount
in (A) divided by the amount in (B):

(A)     The
Participant’s actual years of Credited Service as of the date of his or her
most recent Termination of Employment plus the deemed additional years of
Credited Service the Participant would have completed if the period from the
most recent Termination of Employment to his or her Normal Retirement Date was
Credited Service.  However, the sum of
the actual and deemed years in the preceding sentence may not exceed 30 years.

(B)     30 years.

(3)     The
Participant’s Service Ratio.

(b)      If the
Participant’s Termination of Employment occurs after he or she has both
attained age 55 and completed 10 or more years of Elapsed Time, the Accrued
Monthly Pension is the product of (1) and (2):

(1)      50% of the
Participant’s Final Average Earnings minus 50% of his or her Primary Social
Security Benefit.

(2)      The Participant’s
actual years of Credited Service determined as of the date of his or her
Termination of Employment (but not more than 30 years), divided by 30.

(c)      A
Participant’s Accrued Monthly Pension shall not be less than $75, provided he
or she has completed at least one year of Credited Service.  However, in any case where an Appendix to
the Plan provides that a Participant’s Accrued Monthly Pension includes amounts
earned under a prior plan, said $75 minimum applies to the Participant’s total
combined benefit under the Appendix and this section.  (However,  the $75 minimum
does not apply in cases where an individual’s benefit is computed solely by
reference to the prior plan and the individual did not have at least one year
of Credited Service recognized under this Plan.)

(d)      If a
Participant is listed in Part One of Appendix E, his or her Accrued Monthly
Pension shall not be less than $416.67 multiplied by his or her years of
Credited Service, but not more than 30 years. 
For any Participant listed in Part Two of Appendix E, the Accrued
Monthly Pension shall not be less than the amount shown in said Appendix.

(e)      A
Participant’s Accrued Monthly Pension shall not be less than $6 multiplied by
his or her Years of Credited Service through February 29, 2000, disregarding
(i) any Credited Service in excess of 30 years and (ii) any Credited Service
after February 29, 2000.

(f)       In no event
shall a Participant’s Accrued Monthly Pension as of any January 1 be less than
his or her Accrued Monthly Pension as of the preceding January 1.

(g)      Effective as
of January 1, 1994, the annual limit on Compensation the Plan may recognize
under Code §  401(a)(17) was reduced to
$150,000.  However, for any person who
was a Participant on December 31, 1993, the Accrued Monthly Pension shall not
be less than the sum of (i) his or her Accrued Monthly Pension as of December
31, 1993, using the Code §  401(a)(17)
limit as then in effect, and based on pay and service through December 31,
1993, plus (ii) any additional accruals after December 31, 1993, based on
service after said date, with pay determined under Code §  401(a)(17) as amended January 1, 1994.

          Sec. 4.6  Service Ratio. 
A Participant’s “Service Ratio” is the amount in (a) divided by the
amount in (b):

(a)      The
Participant’s actual years of Credited Service.

(b)      The
Participant’s actual years of Credited Service plus the additional years of
Credited Service he or she would have had if the period from his or her most
recent Termination of Employment to his or her Normal Retirement Date was
Credited Service.

The number of years in (a) and (b) shall exclude
any period prior to the individual’s most recent Termination of Employment
which was not recognized in Credited Service (e.g., breaks in service occurring
before the individual’s most recent Termination of Employment or periods while
the individual was in a job category not covered by the Plan).

          Sec. 4.7  Monthly Earnings. 
The “Monthly Earnings” of an employee whose Termination of Employment
occurs on or after January 1, 1997 shall be determined as follows:

(a)      If an
employee is paid on a salaried or commission basis on the earliest date in a
Plan Year on which he is a Qualified Employee, Monthly Earnings for said Plan
Year is equal to the greater of:

(1)      An amount
equal to his or her regular monthly salary as in effect on January 1 of
said Plan Year plus, where applicable, an amount equal to the total commissions
paid to him  or her during the preceding
Plan Year divided by 12.  In any case
where an employee was not a Qualified Employee on January 1 of a Plan
Year, but transferred to a position as a Qualified Employee on a later date in
said Plan Year, Monthly Earnings for said Plan Year shall be determined according
to the preceding sentence except that said amount shall be based on salary in
effect immediately following said transfer. 
Said amount shall not exceed the limit under Code §  401(a)(17) in effect on said January 1.  For example, Monthly Earnings determined
under this paragraph on the basis of a Participant’s January 1, 2000 salary
rate may not exceed $14,166, reflecting the 2000 Code §  401(a)(17) limit.

(2)      One-twelfth
of the sum of the following amounts:

(A)     The total
compensation (other than the annual, non-discretionary bonus) paid to the
employee during the preceding Plan Year.

(B)     The annual,
non-discretionary bonus, if any, the employee earned during the preceding Plan
Year.  Such bonuses will be recognized
for the Plan Year in which earned, even if the bonus is actually paid after the
close of that Plan Year or payment is deferred to a later date.

However, if the employee
was never a Qualified Employee at any time during the preceding Plan Year, this
paragraph (2) shall not be applicable and Monthly Earnings shall be determined
pursuant to paragraph (1).  Said sum
shall not exceed the limit under Code § 
401(a)(17) for the preceding Plan Year. 
For example, Monthly Earnings determined under this paragraph for 2000
on the basis of 1999 total compensation and earned bonus may not exceed
$13,333, reflecting the 1999 Code § 
401(a)(17) limit.

(b)      If an
employee is hourly paid on the earliest date in a Plan Year on which he or she
is a Qualified Employee, Monthly Earnings for said Plan Year is equal to the
greater of:

(1)      173 1/3
multiplied by the employee’s base hourly pay rate as in effect on January 1 of
said Plan Year (or on the earliest date he or she is a Qualified Employee, if
later).

(2)      One-twelfth
of the employee’s total compensation during the preceding Plan Year.  However, if the employee was never a
Qualified Employee at any time during the preceding Plan Year, this paragraph
(2) shall not be applicable and Monthly Earnings shall be determined pursuant
to paragraph (1).

(c)      Notwithstanding
the foregoing:

(1)      No Monthly
Earnings shall be determined for an employee for a Plan Year unless he or she
was a Qualified Employee during part or all of that Plan Year.  However, if a Participant who was age 34 or
younger transferred on or after September 28, 1990, and before January 1, 1997,
from a position as a Qualified Employee to a position in which the individual
was a salaried, office clerical, or supervisory employee at a location listed
in Sec. 2.19(f) or at an Affiliate which is not a Participating Employer,
Monthly Earnings will continue to be determined for each Plan Year during all
or any part of which the individual was a salaried, office clerical, or
supervisory employee.  The preceding
sentence does not apply if the individual is not a Qualified Employee due to
application of Sec. 2.19(c) (relating to non-resident aliens) or Sec. 2.19(d)
(relating to bargaining unit employees), or during any period while the
individual’s principal place of employment is outside the United States.

(2)      Allowances or reimbursements for expenses, payments or
contributions to or for the benefit of the employee under any profit sharing,
insurance, workers’ compensation or other employee benefit plan, income derived
from receipt or exercise of stock options, phantom stock awards, or benefits in
the form of property or the use of property shall not be included in computing
Monthly Earnings.

(3)      An
employee’s Monthly Earnings for any Plan Year before 1992 will be determined
pursuant to the Plan as in effect prior to the amendment effective January 1,
1997.

(4)      If an
employee elects to defer salary or bonus pursuant to a non-qualified deferred
compensation plan, Monthly Earnings will be determined without regard to said
deferral.  For example, monthly salary
under (a)(1) is the monthly salary rate in effect before any voluntary
deferral. Similarly, the annual bonus under (a)(2)(B) is the amount earned
without regard to any election to defer receipt.  When the deferred compensation later is paid to the employee, it
will not be included in Monthly Earnings at the time of payment.

(d)      Monthly
Earnings shall be based on gross pay before any reduction pursuant to a Code
§  401(k) or Code §  125 salary reduction program.

(e)      For any
period while a Participant is absent from work and receiving benefits under a
long-term disability program sponsored by a Participating Employer, his or her
Monthly Earnings will be deemed to remain at the same level last determined
prior to the period of absence.

(f)       Notwithstanding
any other provision of this section to the contrary, if a Participant’s service
in Brazil with ITAP/BEMIS, Ltd. is recognized as Credited Service pursuant to
Sec. 3.5(a)(6), Monthly Earnings for each Plan Year beginning after his or her
transfer to Brazil and ending before his or her return to the United States
shall be equal to the average of his or her last Monthly Earnings rate before
the transfer and his or her first Monthly Earnings rate after the return.

(g)      Monthly
Earnings shall be determined for periods while an individual was a salaried
employee of a Participating Employer or Affiliate in Canada.  Said determination will be made in
accordance with this section, but Monthly Earnings expressed in Canadian
dollars as of any January 1 will be converted to U.S. dollars using the rate of
exchange on the last business day of the preceding December as reported in the
Exchange Rate Table as published in the Wall Street Journal.

          Sec. 4.8  Final Average
Earnings.  A Participant’s “Final Average Earnings” is
the highest average Monthly Earnings for any five consecutive years out of the
last 15 consecutive years for which Monthly Earnings was determined under Sec.
4.7, or the average for all such years if five or less.   Years for which no Monthly Earnings was
determined are disregarded in determining this average, and the years used to
determine the average may be interspersed with the years for which there was no
Monthly Earnings.

          Sec. 4.9  Primary Social
Security Benefit. 
“Primary Social Security Benefit” for purposes of the Plan is an amount
estimated by the Actuary as of the date of an employee’s Termina­tion of
Employment to be the Social Security Act primary monthly old–age insurance
benefit to which such employee is entitled on the basis of his or her
employment record, with benefit payments commencing for the month in which he
or she attains Normal Retirement Age or in which his or her Termination of
Employment occurs, if later.  In making
such estimate, recognition shall be given to any adjustment in the benefit that
is retroactive to the month in which he or she attains Normal Retirement Age or
the month in which his or her Termination of Employment occurs, if later.  Such estimate shall be made as follows:

(a)      The
employee’s compensation while employed by the Company shall be determined on
either or a combination of the following bases:

(1)      On the basis
of the employee’s actual wage history as set forth in the Company’s books and
records, except that the employee may elect to supply the Company with actual
wage history as provided in subsection (d).

(2)      On the basis
of an estimate of compensation while employed by the Company, subject to the
following:

(A)     The employee
has the right to elect to supply the Company with his or her actual wage
history as provided in subsection (d).

(B)     If the
employee does not elect to supply the Company with actual wage history, the
estimate is consistent with subsection (c).

(b)      The
employee’s wage history prior to his or her Employment Commencement Date shall
be determined as follows:

(1)      The employee
has the right to elect to supply the Company with his or her actual wage
history as provided in subsection (d).

(2)      If the
employee does not elect to supply the Company with his or her actual wage
history, an estimate of wage history prior to his or her Employment
Commencement Date shall be made in a manner consistent with subsection (c).

(c)      If an
employee does not elect to supply the Company with actual wage history, any
estimate of wage history prior to his or her Termination of Employment or
Employment Commencement Date shall be made by applying a salary scale,
projected backwards, to the employee’s annual rate of compensation as in effect
immediately after the period for which the estimate is being made.  Said scale is the actual percentage change
in average wages from year to year as determined by the Social Security
Administration.

(d)      If the
employee so elects, in lieu of the Actuary estimating on his or her
compensation prior to his or her Termination of Employment or Employment
Commencement Date, he or she may direct the Actuary to estimate the Primary
Social Security Benefit on the basis of the employee’s actual wage history as
furnished by the Social Security Administration or such other source as the
Company deems to be reliable. The employee must, however, supply the Company
with satisfactory documentation of his or her actual wage history within a
reasonable period of time following the later of his or her Termination of
Employ­ment and the date upon which the Company notifies him or her of the
benefit, if any, that he or she is entitled to receive under the Plan.

(e)      Estimates
under this section shall be based on the assumption that the Social Security
Act as in effect on the December 31 immediately preceding the employee’s
Termination of Employment will remain unchanged thereafter.

(f)       Estimates
under this section shall be based on the assumption that after the December 31
immediately preceding the employee’s Termination of Employment, there will be
no benefit or wage base changes under the Social Security Act resulting from
changes in the cost of living.

(g)      Estimates
under this section shall be based on the assumption that the employee will be
in covered employment under the Social Security Act until attainment of Normal
Retirement Age and will continue to receive compen­sation that would be treated
as wages for purposes of the Social Security Act at the same annual rate as he
or she received such compensation for the Plan Year ending on the December 31
coincident with or immediately preced­ing Termination of Employment.

(h)      If an
employee’s Termination of Employment occurs immediately after a period during
which he or she was eligible to receive benefits under a long term disability
program sponsored by his employer, the following will be applicable:

(1)      It shall be
assumed that during the period while receiving long term disability benefits
the Participant was receiving compensation that would be treated as wages for
purposes of the Social Security Act in the same amount as he or she received
such compensation for the Plan Year ending on the December 31 immediately
preceding the date as of which he or she became eligible to receive long term
disability benefits.

(2)      After the
later of (i) December 31, 1975 or (ii) the December 31 immediately
preceding the date as of which he or she became eligible to receive long term
disability benefits, there will be no benefits or wage base changes under the
Social Security Act resulting from changes in the cost of living.

This subsection is not
applicable in any case where an employee returns to active employment with a
Partic­ipating Employer or Affiliate after a period of long term disability.

(i)       Estimates
under this section shall be based on the assumption that the employee will make
timely application to receive a Social Security Act primary monthly old-age
insurance benefit with payments commencing for the month in which he or she
attains Normal Retirement Age, or the month in which Termination of Employment
occurs, if later, and will not be disqualified from receiving said payments by
employment, self-employment, or in any other way.

          Sec. 4.10  “Actuarial
Equivalent”, “Actuarial Value”, “Present Value”. 
Each “Actuarial Equivalent”, “Actuarial Value”, or “Present Value” shall
he determined by the Actuary in accordance with the following:

(a)      For
determinations involving benefits payable pursuant to the sections listed
below, the amount of such benefit shall equal the Participant’s Accrued Monthly
Pension multiplied by the appropriate factor as set forth in the following
table:

 

	

Form of Benefit

  
  

  

  	

Factor

  
  

  

  
	

Sec. 7.2 (Qualified
  Joint and Survivor Annuity) and Sec. 7.4 (Joint and 1⁄2 Survivor Annuity)

  	

90% increased by 3/4
  of 1% for each year that the Participant’s spouse or designated joint
  annuitant is older than the Participant and decreased by 3/4 of 1% for each
  year that the Participant’s spouse or designated joint annuitant is younger
  than the Participant; provided, however, that such factor shall never exceed
  100%.

  
	 

  	 

  
	

Sec. 7.4 (Joint and
  3/4 Survivor Annuity)

  	

85% increased by
  88/100 of 1% for each year that the Participant’s designated joint annuitant
  is older than the Participant and decreased by 88/100 of 1% for each year
  that the Participant’s designated joint annuitant is younger than the
  Participant; provided, however, that such factor shall never exceed 100%.

  
	 

  	 

  
	

Sec. 7.4 (Joint and
  Full Survivor Annuity)

  	

80% increased by 1%
  for each year that the Participant’s designated joint annuitant is older than
  the Participant and decreased by 1% for each year that the Participant’s
  designated joint annuitant is younger than the Participant; provided,
  however, that such factor shall never exceed 100%.

  
	 

  	 

  
	

Sec. 7.4 (Life and 10
  Years Certain)

  	

91%

  
	 

  	 

  

 

For the purposes of the
above table, the difference in age between the Participant and the
Participant’s spouse or designated joint annuitant, as the case may be, shall
be measured in whole years, and partial years shall be disregarded.

(b)      For
determinations pursuant to Sec. 8.12, each “Actuarial Equivalent” or “present
value” shall be determined as follows:

(1)      For purposes
of adjusting the Code § 415 limits under Sec. 8.12 in cases where a
Participant’s benefit begins before age 62, or in cases where the benefit is
paid in a form other than a life annuity or qualified joint and survivor
annuity, the interest rate will be 5% and the mortality table referred to in
Sec. 4.10(c)(2) will be used.

(2)      The Code §
415 limit in cases where a Participant’s benefit begins after the Participant
reaches Social Security Retirement Age is the same as the limit at Social
Security Retirement Age (subject to any applicable cost of living increase).

(c)      For
determinations of lump sum payment of benefits which would otherwise be payable
as monthly annuities, each Actuarial Equivalent shall be determined by the
Actuary on the basis of the following actuarial assumptions:

(1)      The interest
rate used to calculate any lump sum paid during a Plan Year will be the annual
interest rate on 30-year treasury securities as specified by the Commissioner
of Internal Revenue for October of the Plan Year preceding the Plan Year in
which the payment is made.

(2)      The
mortality table used for such calculations is the “applicable mortality table”
referred to in Income Tax Reg. 1.417(e)-1T(d)(2), or any successor to said
regulation.

Said assumptions shall
also be used (i) for purposes of Sec. 8.6 in determining the present value of
accrued benefits which are to be paid under a qualified domestic relations
order, (ii) for purposes of the adjustment in Sec. 7.3 of Appendix A if a
Hayssen Plan Participant withdraws his or her Prior Service Benefit, (iii) for
purposes of determining whether the Plan is “top heavy” under Sec. 14.2, and
(iv) for all purposes for which Actuarial Equivalents must be determined under
the plan except as specifically provided elsewhere in the Plan.

(d)      Each
determination involving an Actuarial Equivalent shall be made in accordance
with any applicable regulation promulgated by the Secretary of Labor or the
Secretary of the Treasury.

ARTICLE
V

PLAN
PARTICIPATION

          Sec. 5.1  Eligibility
for Participation.  An employee of a Participating Employer shall become a Participant
in the Plan on the earliest date, on or after the date the Plan becomes
effective with respect to his or her Partic­ipating Employer, on which he or
she both (i) is a Qualified Employee and (ii) has completed one Year of
Eligibility Service.

          Sec. 5.2  Duration
of Participation. 
A Participant shall continue to be such until the later of:

          (a)      His or her Termination of Employment.

(b)      The date all benefits, if any, to which
he or she is entitled hereunder have been distributed from the Fund.

          Sec. 5.3  No
Guarantee of Employment. 
Participation in the Plan does not constitute a guarantee or contract of
employment with the employee’s Participant Employer.  Such participation shall in no way interfere with any rights the
Participating Employer would have in the absence of such participation to
determine the duration of the employee’s employment with the Participating
Employer.

ARTICLE
VI

PENSION
BENEFITS

          Sec. 6.1  Pension
on Normal Retirement. 
On Normal Retirement a Participant shall be entitled to a pension
payable monthly for life, the first payment to be made as of the first day of
the month following the Normal Retirement (if he or she is living on said first
day of the month) and the last payment to be made as of the first day of the
month in which his or her death occurs, in a monthly amount equal to his or her
Accrued Monthly Pension.  The pension
payable under this section is subject to all the provisions of the Plan, and in
this regard special reference is to be made to the provisions of Articles VI,
VII, and VIII.

          Sec. 6.2  Pension
on Early Retirement. 
On Early Retirement, a Participant shall be entitled to a pension
payable monthly for life, the first payment to be made on the first day of the
month following his or her Normal Retirement Date (if he or she is living on
said first day of the month) and the last payment to be made as of the first
day of the month in which his or her death occurs, in a monthly amount equal to
his or her Accrued Monthly Pension. However, he or she may elect a monthly
pension which is in lieu of the aforesaid pension, the first payment to be made
as of the first day of any month he or she shall elect which is after the Early
Retire­ment and prior to his or her Normal Retirement Date (if he or she is
living on the commencement date so elected) and the last payment to be made as
of the first day of the month in which his or her death occurs, in a monthly amount
equal to his or her Accrued Monthly Pension, reduced by 5/12 of 1% for each of
the first 60 months and 1/3 of 1% for each additional month by which the
pension commencement date precedes his or her Normal Retirement Date.  The election shall be made by requesting the
appropriate form from the Company and completing, signing and filing the form
with the Company before the commencement date elected.  The pension payable under this section is
subject to all the provisions of the Plan, and in this regard special reference
is to be made to the provisions of Articles VI, VII and VIII.

          Sec. 6.3  Pension
on Disability Retirement. 
On Disa­bility Retirement, a Participant shall be entitled to a pension
payable monthly for life, the first payment to be made as of the first day of
the month following his or her Termination of Employment, if the Participant is
then living, and the last as of the first day of the month in which his or her
death occurs.  The monthly amount of
said pension shall be determined as follows:

(a)      If the Participant has attained age 55
when the Disa­bility Retirement occurs, the monthly amount of the Disability
Retirement pension shall be determined in the same manner as an Early Retirement
pension under Sec. 6.2.

(b)      If the Participant’s Disability
Retirement occurs prior to the date he or she attains age 55, the monthly
pension amount shall be the Participant’s Accrued Monthly Pension, reduced by
5/9 of 1% for each of the first 60 months and 5/18 of 1% for each additional
month by which the commencement date precedes the Participant’s Normal
Retirement Date.

The pension payable under this section is
subject to all the provisions of the Plan, and in this regard special reference
is to be made to the provisions of Articles VI, VII, and VIII.

          Sec. 6.4  Pension
on Vested Termination. 
On a Vested Termination, a Participant shall be entitled to a pension
payable monthly for life, the first payment to be made as of the first day of
the month next following his or her Normal Retirement Date, if he or she is
then living, and the last as of the first day of the month in which his or her
death occurs.  The monthly amount of
said pension shall equal the Participant’s Accrued Monthly Pension.  However, if the Participant has completed 10
years of Elapsed Time, he or she may elect to receive a monthly pension which
is in lieu of the aforesaid pension, the first payment to be made as of the
first day of any month after the month in which the Participant attains age 55
but not later than the first day of the month after his or her Normal
Retirement Date (if the Participant is living on the commencement date so
elected) and the last payment to be made as of the first day of the month in
which his or her death occurs.  The
monthly amount of such pension shall be the monthly amount otherwise payable
following his or her Normal Retirement Date reduced by 5/9 of 1% for each of
the first 60 months and 5/18 of 1% for each additional month by which the
commencement date precedes his or her Normal Retirement Date.  The election shall be made by requesting the
appropriate form from the Company and completing, signing, and filing the form
with the Company before the commencement date elected.  A Participant who has fewer than 10 years of
Elapsed Time may not elect to have his or her pension commence prior to his or
her Normal Retirement Date.  The pension
payable under this section is subject to all the provisions of the Plan, and in
this regard special reference is to be made to the provisions of Articles VI,
VII, and VIII.

          Sec. 6.5  Deduction
for Other Pension Payments. Notwithstanding the foregoing
provisions, the monthly amounts otherwise payable thereunder shall be reduced
by the amount (expressed on a comparable basis that is an Actuarial Equivalent)
of the monthly pension, if any, to which the Participant is entitled under any
other pension plan that meets the requirements of Code §  401(a) and that is financed in whole or in
part by a Participating Employer, but only to the extent such other pension is
attributable to employer contributions and to the same period of service for
which the pension is being paid under this Plan.  Said reduction is subject to the following:

(a)      In cases where service outside the United
States is recognized as Credited Service under this Plan, said reduction also
shall apply with respect to any benefits a Participant accrued under a
retirement plan financed in whole or in part by a Participating Employer or
Affiliate outside the U.S. for the benefit of employees working outside the
U.S.

(b)      If a Participant transfers to or from a
position covered by the Bemis Company, Inc. Retirement Plan for Bemis Hourly
Employees, any benefit accrued under this Plan for the Plan Year the transfer
occurred will not be offset by benefits accrued for the same year under that
Plan.

          Sec. 6.6  Amendments
Affecting Pension Rights. 
Notwith­standing the foregoing provisions, in the event of an amendment
to the Plan, the following shall be applicable:

(a)      The amendment shall not reduce the
accrued benefit, within the meaning of Code § 
411(d)(6), of a Participant determined at the time of such amendment
except in conformity with said section.

(b)      If the amendment to the Plan should
change the vesting schedule of the Plan, each Participant having not less than
three years of Elapsed Time by the end of the election period with respect to
such amendment shall be permitted within such election period to elect in
writing to have his or her vested percentage computed under the Plan without
regard to such amendment.  The elec­tion
period shall be a reasonable period determined by the Company commencing not
later than the date the amendment is adopted. 
However, the Company need not provide such an election for any
Participant whose vested percentage under the Plan, as amended, at any time
cannot be less than such percentage determined without regard to such
amendment.

          

          Sec. 6.7  Suspension of Benefits and Effect of
Reemployment. 
If a Participant has a Termination of Employment and is subsequently
reemployed by a Participating Employer, or if a Participant’s employment with a
Participating Employer continues after he or she attains Normal Retirement Age,
the following shall be applicable:

(a)      If a Participant is reemployed by a
Participating Employer, his pension payments shall continue through the sixth
month of such reemployment.  After said
month and prior to the month following his subsequent Termination of
Employment, pension payments that the Participant would otherwise be entitled
to receive for the following calendar months shall be permanently withheld:

(1)
     Each
calendar month ending on or before the Participant’s Normal Retirement Date in
which he or she completes one or more Hours of Service.

(2)
     Each
calendar month ending after the Participant’s Normal Retirement Date in which
he or she completes 40 or more Hours of Service.

(b)      If a Participant’s employment with a
Participating Employer continues after his or her Normal Retirement Date,
pension payments will be permanently withheld for each calendar month in which
he or she completes 40 or more Hours of Service.

(c)      If a monthly pension payment is made for
a calendar month and it later is determined that such payment was subject to
permanent withholding, the amount of such payment shall be applied as an offset
against subsequent monthly payments unless the Participant has previously
repaid the overpayment.  However, the
amount of any such offset shall not exceed, in any one month after the Participant
attains Normal Retirement Age, 25 percent of the monthly total benefit payment
that would have been paid but for the offset.

(d)      The Company shall notify a Participant of
any suspen­sion under subsection (a)(2) or (b).  The notice shall conform to the requirements of Section 2530.203–3(b)(4)
of the Department of Labor Regulations.

(e)      When a Participant’s benefit payments
resume following any period of suspension under subsection (a), the pension
shall be paid under the same form as previously in effect and shall be in a
monthly amount equal to the sum of (i) the monthly amount payable prior to the
suspension plus (ii) any additional amount based on service during the period
of reemployment.  However, notwith­standing
any other provision of the Plan to the contrary, no additional amount will be
accrued for any Plan Year during the period of reemployment prior to the
earliest Plan Year therein during which the Partic­ipant completes 1000 or more
Hours of Service.

(f)       “Hour of Service” for purposes of this
section is as defined in Sections 2530.200b–2(a)(1) and (2) of the Labor
Department regulations.

(g)      The provisions of this section shall be
administered in accordance with section 2530.203–3 of the Department of
Labor Regulations.

          Sec. 6.8  Family
Income Coverage. 
Section 12.04 of the Plan as in effect on December 31, 1968, relating to
continuation of family income coverage comparable to that provided under the
S&RIP prior to 1962, shall be deemed to continue in effect for Participants
who had elected to continue such coverage. 
However, for purposes of all other provisions of the Plan as set forth
herein, contributions made by a Participant and benefits paid to his or her
Beneficiary in connection with said family income coverage shall be deemed to
be unrelated to this Plan.

          Sec. 6.9  Effect of
Participation in Variable Annuity Fund Prior to January 1, 1969. Pursuant to Article 9 of the Plan as in
effect prior to the revision of the Plan effective January 1, 1969,
members could elect to have a portion of their accrued benefits funded through
a “Variable Annuity Fund.” Effective as of January 1, 1969, said elections
were no longer effective and said Variable Annuity Fund was discontinued with
respect to Participants hereunder. 
However, a Participant in the Plan on or after January 1, 1969 who
made such election under the prior provisions of the Plan shall be deemed to
have made a contribu­tion in support of the Plan on December 31, 1968 in
an amount equal to the increase in value as of that date of all contribu­tions
on his behalf that were allocated to said Variable Annuity Fund, to the extent
such increase is attributable to the invest­ment experience of the Variable
Annuity Fund in excess of the assumed yield rate for said Variable Annuity
Fund.  The Actuary shall determine the
amount to be so credited to each such Partic­ipant as of December 31, 1968
in a manner consistent with the provisions of said Article 9 of the Plan as
previously in effect.  At such time as a
Participant who made such an election under the prior provisions of the Plan
becomes entitled to a benefit under the foregoing provisions of this Article
VI, he or she shall be entitled to a supplemental benefit, which shall be in
the same form as the benefit under said provisions.  Said supple­mental benefit shall be the Actuarial Equivalent of
the amount deemed to be an employee contribution pursuant to this section,
together with Accumulated Interest from the year 1968.

          Sec. 6.10  Preservation
of Benefits Under Pre-1972 Formula.  The pension
payable to any person who became a Participant on or before January 1,
1972 shall not be less than the amount provided under Article XV of the Plan as
in effect on December 31, 1988.

           Sec. 6.11  Preservation
of Benefits Under Pre-1997 Formula. 
For each Participant who is an “Eligible Employee” as defined in
subsection (a), the benefit provisions of subsection (b) will be
applicable.  These provisions preserve
certain features of the Plan as in effect on December 31, 1996.  Also, for each person who was a Participant
on March 31, 1997, regardless of whether he or she is an Eligible Employee, his
or her benefit under the Plan will not be less than the amount determined under
subsection (c):

(a)      Definition of Eligible Employee.  A Participant is an “Eligible Employee” for
purposes of this section if he or she meets the requirements of (1) and (2):

(1)      The requirements of this paragraph (1)
are met if he or she had an Employment Commencement Date prior to January 1,
1992.  For this purpose, if he or she
first became an employee of the Company or a subsidiary of the Company through
an acquisition, and the acquisition occurred before July 1, 1996, the
individual’s Employment Commencement Date is his or her most recent date of
hire by the acquired company.  Persons who
became employees of the Company or a Company subsidiary through acquisitions on
or after July 1, 1996 do not satisfy the requirements of this paragraph,
and therefore are not Eligible Employees.

(2)      The requirements of this paragraph (2)
are met if any one of the following requirements is satisfied:

(A)
    The
individual was an Active Participant on December 31, 1996.

(B)
    The
individual was an active employee on January 1, 1997 in a group that became
eligible to participate in the Plan on said date, and if the individual became
an employee of the Company or a Company subsidiary through an acquisition, the
acquisition occured before July 1, 1996. 
(Individuals who became employees of the Company or its subsidiaries
through acquisitions on or after July 1, 1996 do not satisfy this
requirement.)

(C)
    He
or she had an Early Retirement prior to December 31, 1996, but becomes a
Qualified Employee after said date.

Also,
a Participant employed at Bemis Packaging Machinery Company, Hayssen
Manufacturing Company, or Accraply, Inc. immediately prior to sale of these
units on May 6, 1997 is an Eligible Employee regardless of whether he or she
meets the requirements of (1) and (2).

(b)      Pre-1997 Benefit Provisions Which Are
Preserved for Eligible Employees. 
The following benefit provisions that were in effect on December 31,
1996 are preserved for Eligible Employees. 
For Eligible Employees, these preserved benefit provisions apply to the
individual’s entire pension, not just the amount accrued through the date these
provisions were deleted from the Plan:

(1)      Normal Retirement Age.  For Eligible Employees, Normal Retirement
Age under the Plan is age 65, regardless of the year of the Participant’s
birth.

(2)      Early Retirement Reduction Factors.  If an Eligible Employee has an Early
Retirement and elects to have his or her pension begin before Normal Retirement
Age, the monthly amount of said pension shall be equal to his or her Accrued
Monthly Pension, multiplied by the early retirement factor determined from the
table set forth below according to the Participant’s age when payments
commence:

	 
  	
  Attained Age on Due
  Date
  	
  Early
  
	 
  	
  of First Monthly
  Payment
  
  

  

  	
  Retirement Factor
  
  

  

  
	 
  	 
  	 
  
	 
  	
  64
  	
  98%
  
	 
  	
  63
  	
  96%
  
	 
  	
  62
  	
  94%
  
	 
  	
  61
  	
  90%
  
	 
  	
  60
  	
  86%
  
	 
  	
  59
  	
  82%
  
	 
  	
  58
  	
  78%
  
	 
  	
  57
  	
  74%
  
	 
  	
  56
  	
  70%
  
	 
  	
  55
  	
  66%
  

(A
proportionate intermediary percentage will be applied for each completed month
after the given age is attained.)

(3)      Disability Retirement.  The early retirement factors in (2) also
apply if an Eligible Employee has a Disability Retirement after attaining age
55.  If the Eligible Employee’s
Disability Retirement occurs after the Participant attains age 50 but before he
attains age 55, the reduction factor is 5/9 of 1% for each of the first 60
months and 5/18 of 1% for each additional month by which the benefit commencement
date precedes age 65.

(4)      Social Security Supplement.  If a Eligible Employee has an Early
Retirement and elects to have his or her pension begin before age 65, in
addition to the reduced monthly pension as provided in (b)(2), with each
monthly payment prior to age 65, the Eligible Employee shall receive a
supplemental benefit equal to (i) 50% of his or her Primary Social Security
Benefit, multiplied by (ii) the fraction described in Sec. 4.5(b)(2),
multiplied by (iii) the early retirement factor determined from the table set
forth in (b)(2) of this section according to the Participant’s age when
payments commence.

(c)      Benefits Will Not Be Less Than Amount
Accrued Through March 31, 1997 Under Plan As Then In Effect.  For any person who was a Participant on
March 31, 1997, and who qualifies for a benefit under Sec. 6.1, 6.2, 6.3 or
6.4, his or her monthly pension will not be less than an amount determined as
follows:

(1)      For purposes of calculating said minimum
pension, the Participant’s Accrued Monthly Pension will be based solely upon
Monthly Earnings and Credited Service through March 31, 1997; Monthly Earnings
and Credited Service after said date will be disregarded.

(2)      The Participant’s Normal Retirement Age
for purposes of determining said minimum pension is age 65, regardless of his
or her date of birth.

(3)      The minimum pension under this subsection
does not include the Social Security Supplement in (b)(4).  The Social Security Supplement will only be
paid if the individual qualifies as an Eligible Employee under subsection (a).

          Sec. 6.12     Special Vested
Termination Provisions For Employees At Certain Discontinued Operations. If a Participant was employed immediately prior to his or her
Termination of Employment at a location listed in subsection (a), the
Termination of Employment occurred on or after the date specified in subsection
(a) for the Participant’s location, and the Participant meets the requirements
of subsection (b), his or her pension on Vested Termination will be calculated
as provided in subsection (c):

          (a)      Locations and dates covered:

(1)
     Hayssen
Manufacturing Company, Accraply, Inc., and Bemis Packaging Machinery Company (a
division of Bemis Company, Inc.), but only if the Participant’s Termination of
Employment occurred on or after May 1, 1997.

(2)
     Pepperell,
Massachusetts plant, but only if Participant’s Termination of Employment
occurred on or after January 1, 1998.

(b)      A Participant meets the requirements of
this subsection (b) only if all of the following requirements are met:

(1)
     The
Participant’s Employment Commencement Date was prior to the date the
Participant attained age 35.

(2)
     The
Participant’s Termination of Employment occurred on or after the date the
Participant attained age 45, but before he or she attained age 55.

(3)
     The
Participant completed 10 or more years of Credited Service prior to his or her
Termination of Employment.

(c)      If a Participant meets the foregoing
requirements, the monthly pension on Vested Termination payable under Sec. 6.4
on a life only basis beginning the month following the Participant’s attainment
of age 65 will not be determined under Sec. 4.5(a), but rather will be determined
under Sec. 4.5(b).  If the Participant
elects to have the pension begin after he or she attains age 55, but before age
65, it will be subject to the reduction factors specified in Sec. 6.4.

          

          Sec. 6.13     Special Enhanced Benefit for Certain Employees at Stow, Ohio. 
A Participant who has satisfied the eligibility requirements  of subsection (a) shall be entitled to an
enhanced benefit determined as provided in subsection (b):

(a)
     Eligibility.  To be eligible for the special enhanced
benefit under this section, a Participant must have satisfied the requirements
of (1), (2), (3) and (4):

(1)
     On
July 1, 1998, the Participant was employed by Morgan Adhesives Company at its
Stow, Ohio facility, and was working in a job category designated by the
Company as eligible to elect this benefit.

(2)
     The
Participant attained age 55 and completed 10 or more years of Elapsed Time
prior to July 1, 1998.

(3)
     The
Participant elected Termination of Employment during a window period
established by the Company, the last day of which shall be not later than
October 31, 1998.  A Participant may
make such an election by executing and submitting to the Company such forms and
releases as the Company requires.  The
special enhanced benefit will not be payable if the Participant (i) fails to
execute the proper forms or releases or (ii) subsequently rescinds the election
in accordance with procedures specified by the Company.

(4)
     The
Participant’s Termination of Employment occurs on or about a date approved by
the Company, which generally will not be later than December 31, 1998, but
which may be later (but not later than June 30, 1999) if the Company reasonably
determines that the Participant’s continued services are necessary during a
longer transition period.

(b)
     Benefit
Amount.  If a Participant
satisfies the foregoing eligibility requirements, his benefit under the Plan
will be enhanced as follows:

(1)
     The
Participant will receive one “point” for each five years of Credited Service he
or she will have under Sec. 3.5 as of the date of Termination of Employment,
determined without regard to any enhanced Credited Service provided under this
section.  Participants will receive
whole points only, and will not receive fractional points for years of Credited
Service fewer than five years.  For
example, a Participant with 28.5 years of Credited Service under Sec. 3.5 will
receive five points based on 25 years of Credited Service, and the remaining three
and one-half years of Credited Service will be disregarded.

(2)
     For
each “point” awarded in (1), the Participant will receive one additional year
of Credited Service.  However, the
Participant’s total Credited Service, enhanced as provided by this paragraph,
may not exceed 30 years, nor may it exceed the years the Participant would have
had at age 65 if he or she had continued working.  If the number of full and fractional years of additional Credited
Service which may be awarded due to the limitations in the preceding sentence
is less than the number of points granted in (1), the remaining points will be
applied as provided in (3).  For
example, if the Participant referred to in (1) is age 61 and has 28.5 years of
Credited Service without regard to this section, 1.5 of his points will be used
to give him an additional 1.5 years of Credited Service (bringing him to 30
years of Credited Service) and the remaining 3 full points will be applied as
provided in (3).

(3)
     Any
full points which were not applied to increase Credited Service will be
converted to full years of age and applied to increase the Participant’s deemed
age for purposes of calculating the benefit on Early Retirement.  (Only full points will be used for this
purpose; fractional points will be disregarded.)  The reduction factor for early commencement in Sec. 6.2 and Sec.
6.11(b)(2) will be based on the Participant’s deemed age rather than his or her
actual age.  For example, the remaining
3 full points of the 61 year old Participant referred to in (1) and (2) would
be converted to 3 years of age, bringing him to a deemed age of 64 for purposes
of determining his early retirement reduction factor.  A Participant’s deemed age after such enhancement shall not be
more than 65.

          Sec. 6.14     Increase in Benefits for
Persons Whose Benefits Commenced Prior to January 1, 1990. 
Effective as of July 1, 2000, benefits under the Plan shall be increased
by the percentage or amount determined from the following table:

	 

  	

Benefit Commencement
  Date

  
  

  

  	

Increase

  
  

  

  
	 

  	

Before January 1, 1970

  	

40%, but not less than
  $50 and not more than $200

  
	 

  	

After December 31,
  1969 and

  	

30%, but not less than
  $50 and

  
	 

  	

prior to January 1,
  1975

  	

not more than $200

  
	 

  	

After December 31,
  1974 and

  	

20%, but not less than
  $50 and prior to 

  
	 

  	

January 1, 1980

  	

not more than $200

  
	 

  	

After December 31,
  1979 and

  	

10%, but not less than
  $50 and  prior to 

  
	 

  	

January 1, 1990

  	

not more than $200

  
	 

  	

After December 31,
  1989

  	

     No
  increase

  

 

For purposes of determining the amount of
the increase applicable with respect to a surviving spouse, contingent
annuitant, or Beneficiary of a deceased Participant, the “Benefit Commencement
Date” is the earlier of (i) the date benefit payments to the deceased
Participant commenced or (ii) the date benefit payments to the surviving
spouse, contingent annuitant, or Beneficiary commenced.  In the case of any living Participant who
qualifies for the increase, the increased amount of the Participant’s pension
shall be taken into account in determining benefits, if any, payable to the
Participant’s surviving spouse, contingent annuitant, or Beneficiary.

However, said benefit increase does not
apply with respect to any individual who participated in a plan which was
merged into this Plan and whose Termination of Employment occurred prior to
said merger, nor to the surviving spouse, contingent annuitant, or Beneficiary
of such an individual.

ARTICLE
VII

SURVIVOR'S
BENEFITS

          Sec. 7.1  Qualified
Preretirement Survivor Annuity. 
A Qualified Preretirement Survivor Annuity shall be payable to a
Participant’s surviving qualified spouse following the Participant’s death,
subject to the following:

(a)      A Qualified Preretirement Survivor
Annuity shall be payable only if all of the following conditions are satisfied:

(1)
     Immediately
prior to the Participant’s death he or she had a nonforfeitable right to a
pension under the Plan.

(2)      The Participant’s death occurred before
the due date of his or her first pension payment.

(3)
     The
Participant is survived by a qualified spouse. A person is a “qualified spouse”
of a Participant if, and only if, such person and the Participant have been
married to each other throughout the one–year period ending on the date
of the Participant’s death.

(4)
     The
Participant had Elapsed Time on or after August 23, 1984.

(5)
     No waiver of
the Qualified Preretirement Survivor Annuity is in effect under subsection (e).

(b)      If the Participant’s death occurs on or
after the earliest retirement date, the Qualified Preretirement Survivor
Annuity shall be the same as the annuity that would have been payable to the
Participant’s qualified spouse if the Participant had retired with a benefit
commencing immediately prior to the date of death in a form determined under
subsection (d).

(c)      If the Participant’s death occurs before
the earliest retirement date, the Qualified Preretirement Survivor Annuity
shall be the same as the annuity that would have been payable to the
Participant’s qualified spouse under the following circumstances:

(1)
     The
Participant’s Termination of Employment occurred on the date of death, or on
actual date of Termination of Employment, if earlier.

(2)
     The
Participant survived to the earliest retirement date.

(3)
     The
Participant commenced receiving a pension on the earliest retirement date in a
form determined under subsection (d).

(4)
     The
Participant died on the day after the earliest retirement date.

(d)      For purposes of subsection (b) and
subsection (c)(3), the applicable form of benefit shall be a benefit payable
under the option described in Sec. 7.4(b) if the Participant’s death occurs
after he or she has completed ten years of Elapsed Time and attained age 55 and
either (i) he or she was an Active Participant immediately prior to his or her
death or (ii) his or her Termination of Employment had occurred after he or she
attained age 55.  In all other cases,
the applicable form of benefit shall be a Qualified Joint and Survivor Annuity.

(e)      A Participant may waive coverage under
the Qualified Preretirement Survivor Annuity with respect to periods described
in paragraph (1). If he or she does not waive such coverage, the Accrued
Monthly Pension will be reduced.  The
following provisions apply to such waivers and reductions.

(1)
     A
Participant may waive the Qualified Preretire­ment Survivor Annuity with
respect to periods when he or she is not eligible to accrue additional benefits
under this Plan or the Bemis Company, Inc. 
Retire­ment Plan for Bemis Hourly Employees.  Said cessation of accruals may be due to the Partici­pant’s
Termination of Employment or transfer, or due to termination of the Plan, or
due to some other reason.  However, he
or she may not waive said annuity if such accruals (i) have ceased solely due
to the Participant’s reaching the maximum length of service beyond which
additional service is not recognized as Credited Service or (ii) have ceased
due to Normal or Early Retirement.

(2)
     On or about
the date a Participant becomes eligible to waive the Qualified Preretirement
Survivor Annuity, the Company will notify the Participant with regard to the
election procedure under Sec. 7.3 and the effect of said waiver.

(3)
     The
Participant’s Accrued Monthly Pension will be reduced by 25/1000 of 1% for each
full month that he or she was eligible to waive the Qualified Preretire­ment
Survivor Annuity but failed to do so. However, no such reduction will be
imposed for any month throughout which the Participant did not have a spouse to
whom he or she had been married for at least one year.

(f)       For purposes of this section, the
“earliest retirement date” with respect to a Participant means:

(1)
     If the
Participant has completed ten Years of Elapsed Time, the first day of the month
following the month he or she attains (or would have attained) age 55.

(2)
     If the
Participant has completed less than ten years of Elapsed Time, the first day of
the month following his or her Normal Retirement Date.

          Sec. 7.2  Qualified
Joint and Survivor Annuity. 
Notwithstanding the provisions of Article VI, a pension otherwise
payable to a Participant for life only shall instead be paid in the form of a
Qualified Joint and Survivor Annuity unless the Participant elects otherwise,
subject to all of the following:

(a)      A “Qualified Joint and Survivor Annuity”
is a pension commencing at the same time as the life-only pension would
commence, with monthly payments for the life of the Participant, and, if the
Participant dies after the date for commencement of pension payments, with
monthly payments for the life of the spouse of the Participant after the
Participant’s death which are each one-half the amount of the monthly payment
made to the Participant during his or her lifetime.

(b)      The Company, within a reasonable period
of time before the due date for the Participant’s first pension payment (and
consistent with such regulations as the Secretary of the Treasury may
prescribe), shall furnish the Participant with a written explanation of (i) the
Qualified Joint and Survivor Annuity, (ii) the election and revocation
procedures in Sec. 7.3, and (iii) the effect of an election or revocation.

(c)      A Participant who elects not to receive
his or her pension in the form of a Qualified Joint and Survivor Annuity will
receive a pension for life only unless he or she elects an optional settlement
under Sec. 7.4.

(d)      The provisions of this section shall not
be applicable unless the Participant and spouse are married to each other on
the due date for the first pension payment to the Participant.  References to “spouse” in this section are
to such spouse.

(e)      The benefit, if any, payable under Sec.
6.11(b)(4) is not payable as a Qualified Joint and Survivor Annuity.

          Sec. 7.3  Election
Procedure. 
Elections under Sec. 7.1 and Sec. 7.2 are subject to the following
requirements:

(a)      The “election period” for waiver of the
Qualified Preretirement Survivor Annuity begins on the earlier of (i) the first
day of the Plan Year in which the Partic­ipant attains age 35 or (ii) the date
of the Partic­ipant’s Termination of Employment and ends on the date of his or
her death.  The “election period” for
the Qualified Joint and Survivor Annuity is the 90 day period ending on the due
date of the Participant’s first pension payment.

(b)      An election under Sec. 7.1 or Sec. 7.2
may be revoked in writing during the election period, and after such revocation
another written election may be made during the election period.

(c)      All elections and revocations shall be
made on the appropriate form available from the Company and shall be effective
only upon completing, signing, and filing of the form with the Company during
the election period.

(d)      A Participant’s election to waive the
Qualified Joint and Survivor Annuity or Qualified Preretirement Survivor
Annuity shall not take effect unless all of the following conditions are
satisfied:

(1)
     The
Participant’s spouse consents in writing to the election.

(2)
     If the
election pertains to a Qualified Joint and Survivor Annuity, the Participant’s
election designates a specific form of benefit payment (i.e., life annuity or
an optional form of settlement under Sec. 7.4) and a specific beneficiary or
contingent annuitant, if applicable in connection with such form of benefit
payment, which designations may not be changed without further spousal consent
(unless the spouse’s initial consent expressly permits future designations by
the Participant without any further spousal consent.)

(3)
     The spouse’s
consent acknowledges the effect of the Participant’s election.

(4)
     The spouse’s
consent is witnessed by a Plan representative or notary public.

However,
the above requirements will be deemed to be satisfied if it is established to
the satisfaction of a Plan representative that the spouse’s consent may not be
obtained because there is no spouse, because the spouse cannot be located, or
because of such other circumstances as the Secretary of the Treasury may by
regulations prescribe.  Any consent by a
spouse, or establishment that the consent of a spouse may not be obtained,
shall be effective only with respect to such spouse.  A consent by a spouse is not revocable by that spouse.

          Sec. 7.4  Optional
Settlements. 
In lieu of the amount and form of pension payable under the preceding
sections of this Article, a Participant with respect to whom the Qualified
Preretirement Survivor Annuity under Sec. 7.1 or the Qualified Joint and
Survivor Annuity under Sec. 7.2 is not payable may, under such rules and
regulations as the Company may prescribe which are in accord with the advice of
the Actuary, elect to have a pension which is the Actuarial Equivalent of his
or her life-only pension payable under one of the following options:

(a)      An option providing a reduced monthly
pension payable to the Participant commencing on the same date as that upon
which payments would otherwise commence and terminating with the last monthly
payment before his death.  If his or her
death occurs on or after the due date of the first monthly payment under the
option and before 120 monthly payments have been made, such benefit shall be
continued to his or her Beneficiary until a total of 120 monthly payments have
been made to the Participant and Beneficiary.

(b)      An option providing a reduced monthly
pension payable to the Participant for his or her lifetime commencing on the
same date as that upon which payments would otherwise commence, with provision
for continuance upon his or her death of monthly payments of 100% of such
reduced amount to his or her spouse for life if the spouse survives the
Participant.  (The “spouse” referred to
in the preceding sentence is the spouse to whom the Participant was married on
the date the Participant’s pension commenced.)

(c)      An option providing a reduced monthly
pension payable to the Participant for his lifetime commencing on the same date
as that upon which payments would otherwise commence, with provision for
continuance upon the Participant’s death of monthly payments of 100%, 75% or
50% of such reduced amount, as he shall have designated, to the person
designated by the Participant as joint annuitant, if such joint annuitant
survives the Participant, with such monthly payments to continue for the
lifetime of the joint annuitant.  An
election of this option shall be automatically cancel­led if either the person
electing the option or the joint annuitant dies before the due date of the
first monthly payment under the option.

Election of an option may be made at any
time prior to commence­ment of pension payments.

          Sec. 7.5  Other
Death Benefits. 
Upon the death of a Participant, his or her Beneficiary shall be
entitled to receive a single sum payment equal to the amount by which the total
amount of benefit payments hereunder, if any, theretofore paid to the deceased
(including payments to his or her spouse under Sec. 7.1) is less than the sum
of (i) the cash value as of the surrender date in 1962 of any contracts on his
or her life originally purchased under the S&RIP and subsequently
surrendered to the insurance carrier by the trustees of said plan, with Accumulated
Interest thereon, and (ii) the contributions made by the Participant after 1961
(including any amount deemed to have been contributed pursuant to Sec. 6.7 of
the Plan as in effect on December 31, 1975) and prior to the cessation of
contributions, with Accumulated Interest; subject to the following:

(a)      If a benefit is payable with respect to
the Participant pursuant to Sec. 7.2 or Sec. 7.4, this section shall not be
applicable and all death benefits, if any, shall be payable under the terms of
whichever of said sections is applicable.

(b)      If a benefit is payable to the
Participant’s spouse pursuant to Sec. 7.1, the benefit, if any, payable
pursuant to this section shall be determined and paid after the death of said
spouse.

ARTICLE
VIII

MISCELLANEOUS
BENEFIT PROVISIONS

          Sec. 8.1  Commencement
Date for Pension Payments. 
Pension payments under this Plan shall be subject to the following rules:

(a)      Pension payments shall commence at the
earlier of the times specified in paragraph (1) or (2) as follows:

(1)
     As soon as
administratively feasible after the date specified by the applicable Plan
provision for the commencement of pension payments.

(2)
     The 60th day
after the close of the Plan Year in which the Participant reaches age 65 or has
a Termination of Employment, whichever is later; provided, however, that if the
amount of the payment to be made cannot be determined by the later of said dates,
a payment retroactive to such date may be made no later than 60 days after the
earliest date on which the amount of such payment can be ascertained.

(b)      Pension payments must commence not later
than April 1 following the later of:

(1)
     The calendar
year in which the Participant attains age 70 1⁄2.

(2)
     The calendar
year in which the Participant has a Termination of Employment.

If
a Particpant’s pension commences after April 1 following the Plan Year he or
she atains age 70 1⁄2, the monthly pension amount will be increased by an amount
which is the Actuarial Equivalent of the additional amount he or she would have
received if (i) his or her pension had commenced April 1 following the Plan
Year he or she attained age 70 1⁄2, and (ii) the monthly pension amount was
adjusted each January 1 thereafter to reflect additonal benefit accruals.

(c)      However, if (i) the Participant is a 5%
owner as defined in Code §  416 or (ii)
the Participant attained age 70 1⁄2 prior to January 1, 2000, his or her pension
shall commence not later than April 1 following the calendar year he or she
attains age 70 1⁄2, regardless of whether Termination of Employment has yet
occurred.  In such cases, the
calculation of the initial pension amount shall be based on the assumption that
Termination of Employment occurred on December 31 of the Plan Year in which the
Participant attains age 70 1⁄2.  The
amount of the monthly payments in each Plan Year following the Plan Year in
which payments commence shall be adjusted to reflect any additional benefit
accrued through December 31 of the preceding Plan Year.

          Sec. 8.2  Payment
of Small Amounts and Certain Consequences Thereof. 
If the Actuarial Equivalent present value of an individual’s entire
benefit is $5,000 or less ($3,500 or less for Participants who had Terminations
of Employment before January 1, 1998 and for Participants at the Pepperell,
Massachusetts and Memphis, Tennessee facilities, regardless of termination date),
the benefit shall be paid in a single lump sum as soon as administratively
feasible following the Participant’s Termination of Employment, subject to the
following:

(a)      Service performed by the Participant with
respect to which a lump sum distribution of his or her entire accrued benefit
was made shall be disregarded in determining his or her Years of Credited
Service under the Plan if the Participant is reemployed, provided such
distribution was made not later than the close of the second Plan Year following
the Plan Year in which his or her Termination of Employment occurred.

(b)      If the requirements of subsection (a) are
not met, and the Participant is later reemployed, his or her Accrued Monthly
Pension upon termination of said period of reemployment will be reduced by the
amount of Accrued Monthly Pension that was cashed out under the foregoing
provisions of this section.

(c)      A lump sum distribution will not be paid
to a Participant under this section if his or her Termination of Employment was
a Normal Retirement (as defined in Sec. 4.1), an Early Retirement (as defined
in Sec. 4.2), or a Disability Retirement (as defined in Sec. 4.3).  However, if such a Participant later dies
under circumstances such that a death benefit is payable under the Plan, the
death benefit will be cashed out under this section if the present value
thereof is $5,000 or less.

(d)      If a former employee receives a single
sum payment under the foregoing provisions of this section, and is later
rehired by a Participating Employer, he or she may repay to the Fund the full
amount of the single sum distribution and interest thereon, subject to the
following:

(1)
     Interest
shall be computed on the amount of the distribution from the date of such
distribution to the date of repayment, compounded annually, at the rate of five
percent per annum.

(2)
     The
repayment must be made not later than the last day of the second Plan Year
following the Plan Year in which the individual is rehired.

(3)
     If such a
repayment is made, the reduction of Credited Service referred to in (a) above
and the reduction of Accrued Monthly Pension referred to in (b) above will not
be applicable.

(4)      If the employee contributed all or any
part of the single sum distributed to a conduit individual retirement account
(“IRA”), all or any part of the repayment may consist of a direct transfer from
said IRA to the Plan.  If the balance in
the IRA exceeds the required repayment, the direct transfer shall be limited to
the amount of required repayment. 
Direct transfers from IRA are permitted only if the IRA consists solely
of proceeds from a single sum distribution from this Plan.

          Sec. 8.3  No Other
Benefits. 
No benefits other than those specifically provided for herein are to be
provided under the Plan.

          Sec. 8.4  Source of
Benefits. 
All benefits to which persons become entitled hereunder shall be
provided only out of the Fund and only to the extent that the Fund is adequate
there­for.  No benefits are provided
under the Plan except those expressly described herein.

          Sec. 8.5  Incompetent
Payee. 
If in the opinion of the Company a person entitled to payments hereunder
is disabled from caring for his or her affairs because of mental condition,
physical condition, or age, payment due such person may be made to such
person’s guardian, conservator, or other legal personal repre­sentative upon
furnishing the Company with evidence satisfactory to the Company of such
status.  Prior to the furnishing of such
evidence, the Company may cause payments due the person under disability to be
made, for such person’s use and benefit, to any person or institution then in
the opinion of the Company caring for or maintaining the person under
disability.  The Company shall have no
liability with respect to payments so made. 
The Company shall have no duty to make inquiry as to the competence of
any person entitled to receive payments hereunder.

          Sec. 8.6  Assignment
or Alienation of Benefits. 
Except as otherwise expressly permitted by the Plan or required by law,
the interests of persons entitled to benefits under the Plan may not in any
manner whatsoever be assigned or alienated, whether voluntarily or
involuntarily, or directly or indirectly, subject to the following:

(a)      Once a Participant, beneficiary, or
contingent annuitant begins receiving benefits under the Plan, he or she may
assign or alienate the right to future benefit payments provided that the
assignments or alienations (i) are voluntary and revocable, (ii) do not in the
aggregate exceed 10% of any benefit payment, and (iii) are neither for the
purpose, nor have the effect of defraying plan administration costs.

(b)      An arrangement whereby a Participant,
beneficiary, or contingent annuitant directs the Plan to pay all or any portion
of a Plan benefit to a third party (including but not limited to a
Participating Employer) will not constitute an “assignment or alienation” for
purposes of this section if (i) it is revocable at any time by the Participant,
beneficiary, or contingent annuitant, and (ii) the third party files a written
acknowledge­ment with the Company stating that the third party has no
enforceable right in, or to, any plan benefit payment or portion thereof
(except to the extent of payments actually received pursuant to the
arrangement).  The written
acknowledgement must be filed with the Company not later than 90 days after the
arrange­ment is entered into.

(c)      The Plan shall comply with the provisions
of any court order which the Company determines is a qualified domestic
relations order as defined in Code section 414(p).  Where payments are to be made under a quali­fied domestic
relations order before payments commence to the Participant, the present value
of the benefits actually accrued for the Participant shall be deter­mined on an
Actuarial Equivalent basis.  All
benefits otherwise payable under the Plan with respect to a Participant shall
be adjusted to the extent necessary to comply with a qualified domestic
relations order.  The Company may defer
pension payments subject to a domestic relations order pending determination
that the order is qualified.

          Sec. 8.7  Payment
of Taxes. 
The Funding Agency may pay any estate, inheritance, income, or other
tax, charge, or assess­ment attributable to any benefit payable hereunder which
in the Funding Agency’s opinion it shall be or may be required to pay out of
such benefit.  The Funding Agency may
require, before making any payment, such release or other document from any
taxing authority and such indemnity from the intended payee as the Funding
Agency shall deem necessary for its protection.

          Sec. 8.8  Conditions
Precedent. 
No person shall be entitled to a benefit hereunder until his or her
right thereto has finally been determined by the Company or until he or she has
submitted to the Company relevant data reasonably requested by the Company,
including, but not limited to, proof of birth or death.

          Sec. 8.9  Company
Directions to Funding Agency. 
The Company shall issue such written directions to the Funding Agency as
are necessary to accomplish distributions to the Participants and Beneficiaries
in accordance with the provisions of the Plan.

          Sec. 8.10  Benefits
Not Increased by Actuarial Gains. Forfeitures arising from severance of
employment, death, or for any other reason shall not be applied to increase the
benefits that any person would otherwise receive under the Plan.

          Sec. 8.11 Pensions Not Decreased on Account of Certain
Social Security Increases.  Notwithstanding any provisions of the Plan to the contrary, if a
Participant has a Termination of Employment and does not subsequently again
become eligible to accrue benefits under the Plan, any pension to which he or
his beneficiary is entitled under the Plan shall not be decreased by reason of
any post-Termination of Employment social security increase effective after his
Termination of Employment.  If a Participant
has a Termination of Employment and subsequently again becomes eligible to
accrue benefits under the Plan, no post-Termination of Employment social
security benefit increase effective before he again becomes eligible to accrue
benefits under the Plan shall be applied to reduce his pension under the Plan
to less than the pension to which he would have been enti­tled had he not again
become eligible to accrue benefits under the Plan.  For purposes of this section, “post-Termination of Employment social
security benefit increase” means an increase in a benefit level or wage base
under Title II of the Social Security Act occurring after the later of (i) the
Participant’s Termination of Employment or (ii) September 2, 1974.

          Sec. 8.12  Maximum
Limitations on Benefits. 
Notwith­standing any provision of the Plan to the contrary, a Partici­pant’s
benefit under the Plan shall not exceed the maximum amount permitted under Code
section 415. For purposes of the preceding sentence:

(a)      The projected annual pension for any Plan
Year with respect to a Participant whose benefit has not yet commenced, and the
annual pension paid during any Plan Year to a Participant whose benefit has
commenced, may not exceed the lesser of:

(1)      $130,000, subject to an automatic
adjustment after 1999 under Code § 
416(d) to reflect changes in the cost of living.  However, if a former employee receives a
single sum payment from his or her employer of the Actuarial Equivalent of his
or her benefit in excess of the limits under this section, such adjustment will
not have the effect of increasing the benefit under this Plan to an amount
higher than the amount upon which said single sum payment was predicated.

(2)      100% of the Participant’s average
Compensation for his high three consecutive years of employment.

(b)      If a Participant’s benefit is paid in any
form other than a straight life annuity or a qualified joint and survivor
annuity (as defined in Code §  417(b)),
such benefit shall be converted on an Actuarial Equiva­lent basis to a straight
life annuity beginning at the same age for purposes of applying the limitation
in subsection (a).

(c)      If a Participant’s benefit commences
before he or she attains Social Security Retirement Age and on or after the
date he or she attains age 62, the dollar limitation of subsection (a)(1) shall
be reduced by 5/9 of 1% for each of the first 36 months and 5/12 of 1% for each
additional month (up to 24 months) by which benefits commence before he or she
attains Social Security Retirement Age. 
If the Participant’s benefit commences before he or she attains age 62,
the dollar limitation shall be the annual amount of a benefit (commencing when
the Participant’s benefit commences) which is the Actuarial Equivalent of an
annual benefit commencing at age 62 determined according to the preceding
sentence.

(d)      If the Participant’s benefit commences
after he or she attains Social Security Retirement Age, the dollar limitation
of subsection (a)(1) is the same as the limit at Social Security Retirement
Age, subject to any applicable cost of living adjustment.

(e)      If a Participant has less than ten years
of participation in this Plan, the dollar limitation under subsection (a)(1)
shall be reduced by multiplying that amount by a fraction, the numerator of
which is the number of years (or part thereof) of participation (not to exceed
ten and not to be less than one) in this Plan and the denominator of which is
ten.

(f)       If a Participant has less than ten years
of service with the employer, the limitation referred to in subsection (a)(2)
shall be reduced by multiplying the limitation otherwise applicable by a
fraction, the numerator of which is the number of years (or part thereof) of
service (not to exceed ten and not to be less than one) with the employer and
the denominator of which is ten.

(g)      For purposes of this section, “Social
Security Retirement Age” means retirement age as defined in section 216(l) of
the Social Security Act (or any successor thereto).

(h)      With respect to a Participant who was a
Participant prior to January 1, 1987, the limitation under this section shall
not have the effect of reducing the Participant’s annual benefit to less than
his accrued benefit as of the close of the last Plan Year beginning before
January 1, 1987.  In determining the
amount of the Participant’s annual accrued benefit on such date, any change in
the terms and conditions of the Plan and any cost of living adjustment
occurring after May 5, 1986 shall be disregarded.

(i)       If a Participant is or has been covered
under more than one defined benefit plan maintained by a Participating Employer
or an Affiliate, the sum of the Participant’s annual benefits under all such
plans may not exceed the maximum amount permitted under this section.  To the extend necessary to comply with such
limitation, the benefits under all such plans shall be reduced on a pro rata
basis.

(j)       For purposes of this section,
“Compensation” means a Participant’s earned income, wages, salaries, and fees
for professional services and other amounts received for personal services
actually rendered in the course of employment with the Participating Employers
and Affiliates (including, but not limited to, commissions, compensation for
services on the basis of a percentage of profits and bonuses), subject to the
following:

(1)      Compensation means the gross amount
before any reduction pursuant to Code § 
125 or 401(k).

(2)
     Compensation
excludes amounts by which an employee’s pay is reduced pursuant to an unfunded
non-qualified plan of deferred compensation. 
However, payments received pursuant to such a plan are Compensation in
the year such amounts are includable in the employee’s gross income.

(3)      Compensation excludes amounts realized
from the exercise of a non­qualified stock option, or from the disposition of
stock acquired under an incentive stock option, or when restricted stock (or
property) held by the Participant either becomes transferable or is no longer
subject to a substantial risk of forfeiture.

(4)      Compensation recognized for an employee
for a Plan Year shall not exceed $160,000, adjusted for each Plan Year after
1999 to take into account any applicable cost of living increase prescribed by
the Secretary of the Treasury.

          Sec. 8.13  Distributions
Made in Accordance with Code § 
401(a)(9). 
Distributions hereunder shall be made in accordance with the
requirements of Code §  401(a)(9) and
regulations thereunder, including Treasury Regulation Section
1.401(a)(9)-2.  Any provisions of the
Plan that are inconsistent with Code § 
401(a)(9) and the regulations thereunder shall be deemed inoperative.

          Sec. 8.14  Deemed
Cash-Out Upon Termination of Employment for Unvested Participants. 
A Participant who is zero percent vested and experiences a Termination
of Employment is deemed upon his or her Termination of Employment to have
received an immediate cash-out of his or her Accrued Monthly Pension under the
Plan and to have forfeited the unvested portion of his or her Accrued Monthly
Pension under the Plan.

          Sec. 8.15  Rollovers
and Transfers to Other Qualified Plans. 
Notwithstanding any provision of the Plan to the contrary that would
otherwise limit a distributee’s election under this section, a distributee may
elect, at the time and in the manner prescribed by the Company, to have any
portion of an eligible rollover distribution paid directly to an eligible
retirement plan specified by the distributee. The following definitions shall
be used in administering the provisions of this section.

(a)      Eligible rollover distribution:  For purposes of this section, an eligible
rollover distribution is a distribution paid in a single lump sum pursuant to
Sec. 8.2 or pursuant to any Appendix to the Plan.

(b)      Eligible retirement plan:  An eligible retirement plan is an individual
retirement account described in Code § 
408(a), an individual retirement annuity described in Code § 408(b), an
annuity plan described in Code § 403(a), or a qualified trust described in Code
§ 401(a), that accepts the distributee’s eligible rollover distribution.  However, in the case of an eligible rollover
distribution to the surviving spouse, an eligible retirement plan is limited to
an individual retirement account or individual retirement annuity.

(c)      Distributee:  A distributee means a Participant, a
Participant’s surviving spouse, or a former spouse who is the alternate payee
under a qualified domestic relations order, as defined in Code § 414(p).  Individuals other than those named in this
subsection are not permitted to roll over distributions from the Plan.

          Sec. 8.16  Special
Benefit Limitation. 
Notwithstanding any other provision of the Plan to the contrary, the
payment of benefits under the conditions set forth in this section shall be
limited as follows:

(a)      Upon termination of the Plan, the benefit
of any Participant who is either a “highly compensated employee” or a “highly
compensated former employee” shall be limited to a benefit that is
nondiscriminatory under Code § 401(a)(4).

(b)      The annual benefit payable under the Plan
to any Participant described in subsection (c) of this section shall not exceed
an amount equal to the payments which would be made to him in that year under a
straight life annuity that is the Actuarial Equivalent of the nonforfeitable
benefit to which he is entitled under the Plan; provided that the restrictions
set forth in this subsection (b) shall not apply if:

(1)
     after
payment to the Participant of his benefit under the Plan, the value of the
Plan’s assets equals or exceeds 110% of the value of the Plan’s current
liabilities; or

(2)
     the value of
such Participant’s benefit under the Plan is less than 1% of the value of such
current liabilities; or

(3)
     the
Actuarial Equivalent value of the Participant’s benefit is $5,000 or less.

(c)      The restriction set forth in subsection
(b) shall apply to benefits payable under the Plan for any Plan Year to any
Participant who is either a “highly compensated employee” or “highly
compensated former employee” with respect to such Plan Year; provided, that if
the number of such highly compensated employees and highly compensated former
employees for any Plan Year exceeds 25, the restriction set forth in subsection
(b) shall apply for the Plan Year only to the 25 such highly compensated
employees and highly compensated former employees with the greatest
Compensation (as defined in Sec. 8.12(j)) for the current or any prior Plan
Year.

(d)      For purposes of this section, the terms
“highly compensated employee” and “highly compensated former employee” shall
have the meanings ascribed to such terms in Code § §414(q)(1) and 414(q)(6),
respectively.

          Sec. 8.17     Benefits of Reemployed
Veterans.  Notwithstanding
any provision of this Plan to the contrary, contributions, benefits and service
credit with respect to qualified military service will be provided in
accordance with Code §  414(u).

ARTICLE
IX

FUND

          Sec. 9.1  Composition.  All sums of money and all securities and other property received
by the Funding Agency for purposes of the Plan, together with all investment
made there­with, the proceeds thereof, and all earnings and accumulations
thereon, and the part from time to time remaining shall consti­tute the
“Fund”.  The Company may cause the Fund
to be divided into any number of parts for investment purposes or any other
purposes necessary or advisable for the proper administration of the Plan.  If for any purpose it is necessary to
determine the value of an asset in the Fund for which fair market value is not
available, the value of such asset shall be its fair value as determined in
good faith by the Company or other Named Fiduciary assigned such function, or
if the asset is held in trust and the trust agreement so provides, as
determined in good faith by the trustee.

          Sec. 9.2  Funding
Agency.  The Fund may be held and invested as one
fund or may be divided into any number of parts for investment purposes.  Each part of the Fund, or the entire Fund if
it is not divided into parts for investment purposes, shall be held and
invested by one or more trustees or by an insurance company.  The trustee or trustees or the insurance
company so acting with respect to any part of the Fund is re­ferred to herein
as the Funding Agency with respect to such part of the Fund.  The selection and appointment of each
Funding Agency shall be made by the Company, by action of the Board.  The Company, by action of the Board, shall
have the right at any time to remove a Funding Agency and appoint a successor
thereto, subject only to the terms of any applicable trust agreement or group
annuity contract.  The Company shall
have the right to determine the form and substance of each trust agreement and
group annuity contract under which any part of the Fund is held, subject only
to the requirement that they are not inconsistent with the provisions of the
Plan.  Any such trust agreement may
contain provisions pursuant to which the trustee will make investments on
direction of a third party.

          Sec. 9.3  Compensation
and Expenses of Funding Agency. The Funding Agency shall be entitled to
receive reasonable compensation for its services as may be agreed upon with the
Company.  The Funding Agency shall also
be entitled to reimbursement for all reasonable and necessary costs, expenses,
and disburse­ments incurred by it in the performance of its services.  Such compensation and reimbursements shall
be paid from the Fund if not paid directly by the Participating Employers in
such proportions as the Company shall determine.

          Sec. 9.4  Securities
and Property of Participating Employers. 
An agreement with a Funding Agency may provide that the Fund may be
invested in qualifying employer securities or qualifying employer real
property, as those terms are used in ERISA, and to the extent permitted by
ERISA.  If qualifying employer
securities or qualifying employer real property are purchased or sold as an
investment of the Fund from or to a disqualified person or party in interest,
as those terms are used in ERISA, and if there is no generally recognized
market for such securities or property, the purchase shall be for not more than
fair market value and the sale shall be for not less than fair market value, as
determined in good faith by the Company or other Named Fiduciary assigned such
function, or if such assets are held in trust and the trust agreement so
provides, as determined in good faith by the trustee.

          Sec. 9.5  No
Diversion. 
The Fund shall be for the exclusive purpose of providing benefits to
Participants and their beneficiaries and defraying reasonable expenses of
administering the Plan.  Such expenses
may include premiums for the bonding of Plan officials required by ERISA and
may also include premiums payable to the Pension Benefit Guaranty
Corporation.  No part of the Fund may be
used for, or diverted to, purposes other than for the exclusive benefit of
employees of the Participating Employers or their beneficiaries.  Notwithstanding the foregoing:

(a)      If any contribution or portion thereof is
made by a Participating Employer by a mistake of fact, the Funding Agency
shall, upon written request of the Company, return such contribution or portion
thereof to the Participating Employer within one year after the payment of the
contribution to the Funding Agency; however, earnings attributable to such
contribution or portion thereof shall not be returned to the Partic­ipating
Employer but shall remain in the Fund, and the amount returned to the
Participating Employer shall be reduced by any losses attributable to such
contribution or portion thereof.

(b)      Contributions by the Participating
Employers are conditioned upon the deductibility of each contribution under
Code §  404. To the extent the deduction
is disallowed, the Funding Agency shall, upon written request of the Company,
return such contribution to the Participating Employer within one year after
the dis­allowance of the deduction; however, earnings attribut­able to such
contribution (or disallowed portion thereof) shall not be returned to the
Participating Employer but shall remain in the Fund, and the amount returned to
the Participating Employer shall be reduced by any losses attributable to such
contribution (or disallowed portion thereof).

(c)      If, in the case of termination of the
Plan, any residual assets remain in the Fund after all liabilities of the Plan
to Participants and their beneficiaries have been satisfied, such residual
assets shall be returned to the Participating Employers in such proportions as
the Company may determine.

          Sec. 9.6  Employer
Contributions. 
The Participating Employers shall make such contributions to the Fund
from time to time as they consider advisable.

ARTICLE
X

ACTUARY

          Sec. 10.1   Appointment.  The Company shall appoint as Actuary hereunder an individual who
is an enrolled actuary as defined in ERISA or a partnership, corporation, or
other organiza­tion which has as a partner or employee thereof such an enrolled
actuary.

          Sec. 10.2   Responsibilities. 
The Actuary shall have the responsibilities expressly allocated to it
hereunder and shall have such other responsibilities with respect to the Plan
as may be agreed upon by the Company and the Actuary.

          Sec. 10.3   Compensation. 
The Actuary shall receive such reasonable compensation for its services
hereunder as may be agreed upon by the Company and the Actuary.  To the extent not paid from the Fund, such
compensation shall be paid by the Participating Employers in such proportions
as the Company shall determine.

          Sec. 10.4   Resignation,
Removal, and Successor. 
Any agreement between the Company and the Actuary for services here­under
may be terminated by either party on 30 days written notice to the other.  In the event of a vacancy in the office of
Actuary, the Company shall appoint a successor.

ARTICLE
XI

ADMINISTRATION
OF PLAN

          Sec. 11.1   Administration
by Company. 
The Company is the “administrator” of the Plan for purposes of
ERISA.  Except as expressly otherwise
provided herein, the Company shall control and manage the operation and
administration of the Plan and make all decisions and determinations incident
thereto.  In carrying out its Plan
responsibilities, the Company shall have discretionary authority to construe
the terms of the Plan.  Except in cases
where the Plan expressly provides to the contrary, action on behalf of the
Company may be taken by any of the following:

(a)      The Board.

(b)      The chief executive officer of the
Company.

(c)      Any person or persons, natural or
otherwise, or committee, to whom responsibilities for the operation and
administration of the Plan are allocated by the Company, by resolution of the
Board or by written instrument executed by the chief executive officer of the
Company and filed with its permanent records, but action of such person or
persons or committee shall be within the scope of said allocation.

          Sec. 11.2  Certain
Fiduciary Provisions.  For purposes of the Plan:

(a)      Any person or group of persons may serve
in more than one fiduciary capacity with respect to the Plan.

(b)      A Named Fiduciary, or a fiduciary
designated by a Named Fiduciary pursuant to the provisions of the Plan, may
employ one or more persons to render advice with regard to any responsibility
such fiduciary has under the Plan.

(c)      To the extent permitted by any applicable
trust agree­ment or group annuity contract a Named Fiduciary with respect to
control or management of the assets of the Plan may appoint an investment
manager or managers, as defined in ERISA to manage (including the power to
acquire and dispose of) any assets of the Plan.

(d)      At any time that the Plan has more than
one Named Fiduciary, if pursuant to the Plan provisions fiduciary
responsibilities are not already allocated among such Named Fiduciaries, the
Company, by action of the Board or chief executive officer may provide for such
allo­cation; except that such allocation shall not include any responsibility,
if any, in a trust agreement to manage or control the assets of the Plan other
than a power under the trust agreement to appoint an invest­ment manager as
defined in ERISA.

(e)      Unless expressly prohibited in the
appointment of a Named Fiduciary which is not the Company acting as provided in
Sec. 11.1, such Named Fiduciary by written instrument may designate a person or
persons other than such Named Fiduciary to carry out any or all of the
fiduciary responsibilities under the Plan of such Named Fiduciary; except that
such designation shall not include any responsibility, if any, in a trust agree­ment
to manage or control the assets of the Plan other than a power under the trust
agreement to appoint an investment manager as defined in ERISA.

(f)       A person who is a fiduciary with respect
to the Plan, including a Named Fiduciary, shall be recognized and treated as a
fiduciary only with respect to the partic­ular fiduciary functions as to which
such person has responsibility.

Each Named Fiduciary (other than the
Company), each other fiduciary, each person employed pursuant to subsection (b)
above, and each investment manager shall be entitled to receive reasonable
compensation for services rendered, or for the reimbursement of expenses
properly and actually incurred in the performance of their duties with the Plan
and to payment therefor from the Fund if not paid directly by the Participating
Employers in such proportions as the Company shall determine.  However, no person so serving who already
receives full-time pay from a Participating Employer shall receive compensation
from the Plan, except for reimbursement of expenses properly and actually
incurred.

          Sec. 11.3  Evidence. 
Evidence required of anyone under this Plan may be by certificate,
affidavit, document, or other instrument which the person acting in reliance
thereon considers to be pertinent and reliable and to be signed, made, or
presented by the proper party.

          Sec. 11.4  Correction
of Errors. 
It is recognized that in the operation and administration of the Plan
certain mathematical and accounting errors may be made or mistakes may arise by
reason of factual errors in information supplied to the Company or Funding
Agency.  The Company shall have power to
cause such equitable adjustments to be made to correct for such errors as the
Company in its discretion considers appropriate.  Such adjustments shall be final and binding on all persons.

          Sec. 11.5  Records.  Each Participating Employer, each fiduciary with respect to the
Plan, and each other person performing any functions in the operation or
administration of the Plan or the management or control of the assets of the
Plan shall keep such records as may be necessary or appropriate in the
discharge of their respective functions hereunder, including records required
by ERISA or any other applicable law. 
Records shall be retained as long as necessary for the proper
administration of the Plan and at least for any period required by said Act or
other applicable law.

          Sec. 11.6  Claims
Procedure. 
The Company shall estab­lish a claims procedure consistent with the
requirements of ERISA.  Such claims
procedure shall provide adequate notice in writing to any Participant or
beneficiary whose claim for benefits under the Plan has been denied, setting
forth the specific reasons for such denial, written in a manner calculated to
be understood by the claimant and shall afford a reasonable oppor­tunity to a
claimant whose claim for benefits has been denied for a full and fair review by
the appropriate Named Fiduciary of the decision denying the claim.  No person claiming a benefit under the Plan
may initiate a civil action regarding the claim until all steps under the
claims procedure (including appeals) have been completed.

          Sec. 11.7  Bonding. 
Plan personnel shall be bonded to the extent required by ERISA.  Premiums for such bonding may, in the sole
discretion of the Company, be paid in whole or in part from the Fund.  Such premiums may also be paid in whole or
in part by the Participating Employers in such proportions as the Company shall
determine.  The Company may provide by
agreement with any person that the premium for required bonding shall be paid
by such person.

          Sec. 11.8  Waiver
of Notice. 
Any notice required hereunder may be waived by the person entitled
thereto.

          Sec. 11.9  Agent
For Legal Process. 
The Company shall be the agent for service of legal process with respect
to any matter concerning the Plan, unless and until the Company desig­nates
some other person as such agent.

          

          Sec. 11.10 Indemnification. 
In addition to any other applicable provisions for indemnification, the
Participating Employers jointly and severally agree to indemnify and hold
harmless, to the extent permitted by law, each director, each officer, and each
employee (collectively referred to as the “Indemnitee”) of the Participating
Employers against any and all liabilities, losses, costs, or expenses
(including legal fees) of whatsoever kind and nature which may be imposed on,
incurred by, or asserted against such person at any time by reason of such
person’s services as a fiduciary in connection with the Plan, but only if such
person did not act dishonestly, or in bad faith, or in willful violation of the
law or regulations under which such liability, loss, cost, or expense
arises.  The Company shall have the
right, but not the obligation, to select counsel and control the defense and
settlement of any action against the Indemnitee for which the Indemnitee may be
entitled to indemnification.

ARTICLE
XII

AMENDMENT,
TERMINATION, MERGER

          Sec. 12.1  Amendment.  Subject to the non-diversion provisions of Sec. 9.5, the Company,
by action of the Board, or by action of a person or committee so authorized by
resolution of the Board, may amend the Plan at any time and from time to
time.  No amendment of the Plan shall
have the effect of changing the rights, duties, and liabilities of any Funding
Agency without its written consent.  The
Company agrees that promptly upon the adoption of any amendment to the Plan it
will furnish a copy of the amendment together with a certificate evidencing its
adoption to each Funding Agency then acting.

          Sec. 12.2   Discontinuance
of Joint Participation in Plan by a Participating Employer.  A
Participating Employer, by action of its board of directors and on appropriate
written notice to the Company and each Funding Agency then acting, may
discontinue its joint participation in the Plan with the other Participating
Employers.  The Company shall cause a
determination to be made of the equitable part of the Fund assets held on
account of Participants of the withdrawing employer and their beneficiaries.  The Company shall direct the Funding Agency
or Funding Agencies to transfer assets representing such equitable part to a
separate fund for the plan of the withdrawing employer; provided, however, that
such transfer shall be made only if and when the Company in its sole judgment
is satisfied that the transfer can be made in full compliance with the
applicable requirements of ERISA.  Such
withdrawing employer may thereafter exercise, in respect of such separate fund,
all the rights and powers reserved to the Company with respect to the Fund.  The plan of the withdrawing employer shall,
until amended by the withdrawing employer, continue with the same terms as the
Plan herein, except that with respect to the separate plan of the withdrawing
employer the words “Participating Employer”, “Participating Employers”, and
“Company” shall thereafter be considered to refer only to the withdrawing
employer.  Any discontinuance of
participation by a Participating Employer shall be effected in such manner that
each Participant or beneficiary would (if the Plan and the plan of the
withdrawing employer then terminated) receive a benefit immediately after such
discontinuance of participation which is equal to or greater than the benefit
he would have been entitled to receive immediately before such discontinuance
of participation if the Plan had then terminated. No transfer of assets
pursuant to this section shall be effected until such statements with respect
thereto, if any, required by ERISA to be filed in advance thereof have been
filed.

          Sec. 12.3  Reorganization
of Participating Employers. 
If two or more Participating Employers are consolidated or merged or if
one or more Participating Employers acquire the assets of another Participating
Employer, the Plan shall be deemed to have continued, without termination and
without a complete discontinuance of contributions, as to all the Participating
Employers involved in such reorganization and their employees.  In such event, in administering the Plan,
the corporation resulting from the consolidation, the surviving corporation in
the merger, or the employer acquiring the assets shall be considered as a
continuation of all of the Participating Employers involved in the
reorganization.

          Sec. 12.4  Termination. 
The Plan may be terminated by the Company, by action of the Board.  An employer which has discontinued its joint
participation in the Plan with the other Participating Employers shall also
have the right to terminate its separate plan which resulted from such
discontinuance at any time by action of its board of directors.  Any such termination shall be made in
compliance with all applicable provisions of ERISA.  The Plan or separate plan may also be terminated by action of the
Pension Benefit Guaranty Corporation pursuant to the provisions of ERISA.  Upon termination of the Plan, or separate
plan, the following shall be applicable:

(a)      No further benefits shall accrue under
the terminated plan, and the rights of each employee thereunder to benefits accrued
to the date of such termination, to the extent then funded, shall be
nonforfeitable; provided, however, that the sole recourse for satisfaction of
such rights shall be to the Fund and, where applicable, to the Pension Benefit
Guaranty Corporation.

(b)      The Funding Agency shall receive for the
Fund of the applicable terminated plan any amount recovered under § 4045 of
ERISA.

(c)      The Funding Agency shall deduct from the
Fund of the terminated plan its compensation, expenses properly chargeable
thereto, and any and all taxes that may be imposed upon the Fund by virtue of
the termination of the plan or otherwise; provided, however, that the Funding
Agency may accept such reasonable indemnity therefor from the Participating
Employers as the Funding Agency shall specify.

(d)      If adequate the Fund of the terminated
Plan shall then be applied to provide, in accordance with the provisions of
such terminated plan as in effect at the time of such termination, all benefits
accrued to the date of such termination whether vested or not.

(e)      If the Fund of the terminated plan is not
adequate to provide all benefits accrued to the date of termination, the assets
of the Fund of the terminated plan shall be allocated to provide benefits in
the following order of priority subject to any applicable regulations
promulgated by the Pension Benefit Guaranty Corporation or the Secretary of the
Treasury:

(1)      To provide that portion of each
individual’s accrued benefit that is derived from the Participant’s
contributions to the Fund, if any.

(2)      In the case of benefits payable as an
annuity:

(A)     In the case of the benefit of a
Participant or beneficiary which was in pay status as of the beginning of the
3-year period ending on the termination date of the plan, to provide each such
benefit, based on the provisions of the plan (as in effect during the 5-year
period ending on such date) under which such benefit would be the least.  The lowest benefit in pay status during the
3-year period shall be considered the benefit in pay status for such period.

(B)     In the case of the benefit of a
Participant or beneficiary (other than a benefit described in subparagraph (A)
above) which would have been in pay status as of the beginning of the 3-year
period ending on the termination date of the plan if the Participant had
retired prior to the beginning of the 3-year period and if his benefits had
commenced as a life only annuity as of the beginning of such period, to provide
each such benefit based on the provisions of the plan (as in effect during the
5-year period ending on such date) under which such benefit would be the least.

(3)      To provide all other benefits, if any, of
individuals under the plan guaranteed under ERISA (deter-mined without regard
to § 4022(b)(5) of said Act), and the additional benefits, if any, which would
be so provided if § 4022(b)(6) of said Act did not apply.  In determining such benefits, § 4021 of said
Act shall be applied without regard to subsection (c) thereof.

(4)      To provide all other nonforfeitable
benefits under the plan.  If the assets
available are not sufficient to satisfy in full such benefits:

(A)     The assets shall be allocated to provide
individuals with such benefits accrued under the plan as in effect at the
beginning of the 5-year period ending on the date of plan termination.

(B)     If the assets available for allocation
under subparagraph (A) above are sufficient to satisfy in full the benefits
described therein (without regard to this subparagraph (B)), then for purposes
of subparagraph (A), benefits of individuals thereunder shall be determined on
the basis of the plan as amended by the most recent plan amendment effective
during such 5-year period under which the assets available for allocation are
sufficient to satisfy in full the benefits of such individuals, and any assets
remaining to be allocated shall be allocated on the basis of the plan as
amended by the next succeeding plan amendment effective during such period.

(5)      To provide all other accrued benefits
under the plan.

The
amount allocated under any of paragraphs (1) through (5) above with respect to
any benefit shall be properly adjusted for any allocation of assets with
respect to that benefit under any of the preceding of said paragraphs.  Except as otherwise provided in paragraph
(4) above, if the assets available for allocation under any of said paragraphs
are insufficient to satisfy in full the benefits to be provided individuals
under such paragraph, the assets shall be allocated pro rata among such
individuals on the basis of the present value, as of the termination date of
the plan, of their respective benefits described in such paragraph.  If the Secretary of the Treasury determines
that the allocation made pursuant to this subsection results in discrimination
prohibited by Code § 401(a)(4) then, if required to prevent the
disqualification of the plan (or any trust under the plan) the assets shall be
reallocated to the extent necessary to avoid such discrimination but only to
the extent permitted by ERISA.

(f)       If all liabilities of the Plan to Participants
and their beneficiaries have been satisfied, any residual assets of the Plan
shall be returned to the Participating Employers if such distribution does not
contravene any provision of law; provided, however, that if any asset of the
Plan attributable to employee contributions should remain after all liabilities
of the Plan to Participants and their beneficiaries have been satisfied, such
assets shall be equitably distributed to the employees who made such
contributions (or their beneficiaries) in accordance with their rate of
contributions.

(g)      If the Actuarial Equivalent present value
of an individual’s entire benefit is $5,000 or less, the benefit shall be paid
in a single sum promptly after termination of the Plan; provided, however, that
payment may be deferred as provided in Sec. 12.7.  In all other cases, benefits following termination of the Plan
shall be provided through purchase of an annuity contract from an insurance
company offering the same settlement options and payment terms as are provided
under the Plan.

(h)      In the event of the termination of the
Plan, all Plan provisions and any agreements with Funding Agencies relating to
the Plan shall continue to have effect for the purpose of completing
distributions in accordance with this section.

          Sec. 12.5  Partial
Termination. 
If there is a partial termination of the Plan, either by operation of
law, by amendment of the Plan, or for any other reason, which partial
termination shall be confirmed by the Company, the Company shall:

(a)      Determine the equitable part of the Fund
assets held on account of Participants with respect to whom the Plan is
terminated and their beneficiaries as though the partial termination was a
discontinuance of joint participation in the Plan by a Participating Employer
under Sec. 12.2.

(b)      Cause that portion of the Fund allocated
to those Participants (and their beneficiaries) with respect to whom the
partial termination takes place to be treated as the Fund of a terminated plan
with respect to such persons.

(c)      Cause that portion of the Fund that is
not allocated to those Participants (and their beneficiaries) with respect to
whom the partial termination takes place to continue to be held and
administered under the Plan for the benefit of the other Participants (and
their beneficiaries).

The provisions of Sec. 12.4 shall be
applicable to the partially terminated plan, to the Participants (and their
beneficiaries) with respect to whom the partial termination takes place, and to
the funds allocated to such persons, as though it constituted a separate plan;
provided, however, that any residual assets shall be credited to the portion of
the Fund referred to in subsection (c) above rather than being returned to the
Participating Employers.

          Sec. 12.6  Merger,
Consolidation, or Transfer of Plan Assets. In the case of any merger or
consolidation of the Plan with any other plan, or in the case of the transfer
of assets or liabilities of the Plan to any other plan, provision shall be made
so that each Participant and beneficiary would (if such other plan then
terminated) receive a benefit immediately after the merger, consolidation, or
transfer which is equal to or greater than the benefit he would have been
entitled to receive immediately before the merger, consolidation, or transfer
(if the Plan had then terminated).  No
such merger, consolidation, or transfer shall be effected until such statements
with respect thereto, if any, required by ERISA to be filed in advance thereof
have been filed.

          Sec. 12.7  Deferral
of Distributions. 
Notwithstanding any provisions of the Plan to the contrary, in the case
of a complete or partial termination of the Plan, the Company or the Funding
Agency may (but is not required to) defer any distribution of benefit payments
to Participants and beneficiaries with respect to which such termination
applies until after the following have occurred:

(a)      Receipt of a final determination from the
Treasury Department or any court of competent jurisdiction regarding the effect
of such termination on the qualified status of the Plan under Code § 401(a).

(b)      Appropriate adjustment of the Fund to
reflect taxes, costs, and expenses, if any, incident to such termination.

ARTICLE
XIII

MISCELLANEOUS
PROVISIONS

          Sec. 13.1  Insurance
Company Not Responsible for Validity of Plan. 
No insurance company that issues a contract under the Plan shall have
any responsibility for the validity of the Plan.  An insurance company to which an application may be submitted
hereunder may accept such application and shall have no duty to make any
investigation or inquiry regarding the authority of the applicant to make such
application or any amendment thereto or to inquire as to whether a person on
whose life any contract is to be issued is entitled to such contract under the
Plan.

          Sec. 13.2  Headings. 
Headings at the beginning of articles and sections hereof are for
convenience of reference, shall not be considered a part of the text of the
Plan, and shall not influence its construction.

          Sec. 13.3  Capitalized
Definitions. 
Capitalized terms used in the Plan shall have their meaning as defined
in the Plan unless the context clearly indicates to the contrary.

          Sec. 13.4  Gender. 
Any references to the masculine gender include the feminine and vice
versa.

          Sec. 13.5  Use of
Compounds of Word “Here”. 
Use of the words “hereof”, “here”, “hereunder”, or similar compounds of
the word “here” shall mean and refer to the entire Plan unless the context
clearly indicates to the contrary.

          Sec. 13.6  Construed
as a Whole. 
The provisions of the Plan shall be construed as a whole in such manner
as to carry out the provisions thereof and shall not be construed separately
without relation to the context.

ARTICLE
XIV

TOP-HEAVY
PLAN PROVISIONS

          Sec. 14.1  Key
Employee Defined. 
“Key Employee” means any employee or former employee of the employer who
at any time during the determination period was an officer of the employer or
is deemed to have had an ownership interest in the employer and who is within
the definition of key employee in Code § 
416(i).

          Sec. 14.2  Determination
of Top-Heavy Status. 
The top-heavy status of the Plan shall be determined according to the
following standards and definitions:

(a)      The Plan is a Top-Heavy Plan for a Plan
Year if either of the following applies:

(1)      If this Plan is not part of a required
aggregation group and the top-heavy ratio for this Plan exceeds 60 percent.

(2)      If this Plan is part of a required
aggregation group of plans and the top-heavy ratio for the group of plans
exceeds 60 percent.

Notwithstanding
paragraphs (1) and (2) above, the Plan is not a Top-Heavy Plan with respect to
a Plan Year if it is part of a permissive aggregation group of plans for which
the top-heavy ratio does not exceed 60 percent.

(b)      The “top-heavy ratio” shall be determined
as follows:

(1)      If the ratio is being determined only for
this Plan or if the aggregation group only includes defined benefit pension
plans, the top-heavy ratio is a fraction, the numerator of which is the sum of
the present values of the accrued benefits of all Key Employees under the Plan
or plans as of the determination date (including any part of any accrued
benefit distributed in the five-year period ending on the determination date),
and the denominator of which is the sum of the present value of all accrued
benefits (including any part of any accrued benefit distributed in the
five-year period ending on the determination date) of all employees under the
Plan or plans as of the determination date. 
(The “plans” referred to in the preceding sentence are the plans in the
required or permissive aggregation group.)

(2)      If the determination is being made for a
required or permissive aggregation group which includes one or more defined
contribution plans, the top-heavy ratio is a fraction, the numerator of which
is the sum of account balances of all Key Employees under the defined
contribution plans and the present value of accrued benefits under the defined
benefit plans for all Key Employees as of the determination date (including any
part of any account balance or accrued benefit distributed in the five-year
period ending on the determination date), and the denominator of which is the
sum of the account balances under the defined contribution plans for all
employees and the present value of accrued benefits under the defined benefit
plans for all employees as of the determination date (including any part of any
account balance or accrued benefit distributed in the five-year period ending
on the determination date).  (The
“plans” referred to in the preceding sentence are the plans in the required or
permissive aggregation group.) Both the numerator and denominator of the
top-heavy ratio shall be adjusted to reflect any contribution due but unpaid as
of the determination date.

(3)      For purposes of paragraphs (1) and (2),
the value of account balances and the present value of accrued benefits will be
determined as of the most recent valuation date that falls within the 12-month
period ending on the determination date. The account balances and accrued
benefits of an employee who is not a Key Employee but who was a Key Employee in
a prior year will be disregarded. The calculation of the top-heavy ratio and
the extent to which distributions, rollovers, and transfers are taken into
account will be made in accordance with Code § 
416 and the regulations thereunder. 
When aggregating plans, the value of account balances and accrued
benefits will be calculated with reference to the determination dates that fall
within the same calendar year.

(c)      “Required aggregation group” means (i)
each qualified plan of the employer in which at least one Key Employee
participates, and (ii) any other qualified plan of the Employer that enables a
plan described in (i) to meet the requirements of Code § § 401(a)(4) and 410.

(d)      “Permissive aggregation group” means the
required aggregation group of plans plus any other plan or plans of the
employer which, when consolidated as a group with the required aggregation
group, would continue to satisfy the requirements of Code § § 401(a)(4) and
410.

(e)      “Determination date” for any Plan Year
means the last day of the preceding Plan Year.

(f)       The “determination period” for a Plan
Year is the Plan Year in which the applicable determination date occurs and the
four preceding Plan Years.

(g)      The “valuation date” is the last day of
each Plan Year and is the date as of which account balances or accrued benefits
are valued for purposes of calculating the top-heavy ratio.

(h)      If an individual has not performed
services for the employer during the five-year period ending on the
determination date with respect to a Plan Year, any account balance or accrued
benefit for such individual shall not be taken into account for such Plan Year.

          Sec. 14.3  Minimum
Accrued Benefit. 
If the Plan is a Top-Heavy Plan, notwithstanding any other provisions of
this Plan, each Participant who is not a Key Employee shall have a minimum
accrued benefit (to be provided by employer contributions and expressed as a
single life annuity, with no ancillary benefits, commencing at age 65) equal to
the applicable percentage of the Participant’s average monthly compensation for
years in the testing period.

(a)      For purposes of this section:

(1)      The “applicable percentage” is the lesser
of 2 percent multiplied by the Participant’s number of years of service with
the employer, or 20 percent. For purposes of this paragraph (1), a Participant has
a year of service for each Plan Year in which he completes 1000 Hours of
Service; provided, however, that the following years shall not be taken into
account:

(A)         Plan Years commencing before January 1,
1984.

(B)         Plan Years in which the Plan is not a Top-Heavy
Plan.

(C)         Plan Years in which the Participant is a
Key Employee.

(D)         Plan Years that end before the
Participant attains age 18.

(E)         Plan Years during which the employer did
not maintain the Plan or a predecessor plan.

(2)      “Compensation” is defined in Sec.
8.12(j).

(3)      “Hour of Service” is defined in Sec.
6.7(f).

(4)      A Participant’s “testing period”
comprises the five consecutive Plan Years during which the Participant had the
greatest aggregate compensation from the employer, subject to the following:

(A)         The Plan Years taken into account for
purposes of this paragraph shall be adjusted for years not included in years of
service for purposes of paragraph (1) above, as provided in Code §  416(c)(1)(D)(ii).

(B)         Any Plan Year commencing after the last
Plan Year in which the Plan was a Top-Heavy Plan shall be disregarded for
purposes of this paragraph if by disregarding such Plan Year the Participant’s
average monthly compensation for years in the testing period will be reduced.

(b)      If a Participant becomes entitled to a
benefit under the Plan, and (i) if the form of the benefit is other than a
single life annuity and/or (ii) if the benefit commences at an age other than
age 65, the benefit payable to the Participant must be at least the Actuarial
Equivalent of the minimum single life annuity benefit commencing at age 65.

(c)      A Participant’s minimum accrued benefit
required under this section, to the extent required to be nonforfeitable under
Sec. 14.4, shall not be subject to suspension of payment under Sec. 6.7(a)(2).

(d)      This section shall not apply to any
Participant who is covered under any other defined benefit plan of the employer
to the extent the minimum benefit requirement otherwise applicable under this
Plan will be satisfied by such other plan.

          Sec. 14.4  Vesting
Schedule. 
If a Participant’s Termination of Employment occurs under such
circumstances that he is not entitled to a benefit under Sections 6.1-6.4, and
if he was an Active Participant during a Plan Year for which the Plan was a
Top-Heavy Plan, he shall be entitled to a benefit under this section.  Except as modified by this section, such
benefit shall be payable under the terms and conditions that would be applicable
to a Vested Termination benefit under Sec. 6.4.

(a)      The monthly amount of the benefit under
this section shall be an amount equal to the Participant’s Accrued Monthly
Pension multiplied by the vested percentage determined according to the number
of his years of Elapsed Time, as follows:

	 
  	
  Years
  of Elapsed Time
  
  

  

  	
  Vested Percentage
  
  

  

  
	 
  	
     Less
  than 2
  	
  0%
  
	 
  	
     2
  but less than 3
  	
  20%
  
	 
  	
     3
  but less than 4
  	
  40%
  
	 
  	
     4
  but less than 5
  	
  60%
  
	 
  	
     5
  or more
  	
  100%
  

(b)      This section shall not apply to a
Participant who has no Elapsed Time after the Plan becomes a Top-Heavy Plan.

(c)      If the Plan ceases to be a Top-Heavy Plan
and continues to be a non-Top-Heavy Plan until the Participant’s Termination of
Employment, the benefit to which the Participant is entitled under this section
shall not exceed the benefit to which he would have been entitled if his
Termination of Employment had occurred on the date of such cessation. However,
the preceding portion of this subsection (d) shall not apply to any Participant
who has completed three years of Elapsed Time by the end of the last Plan Year
for which the Plan was a Top-Heavy Plan.

          Sec. 14.5  Definition of Employer. 
For purposes of this Article XIV, the term “employer” means the Company
and any trade or business entity under Common Control with the Company.

          Sec. 14.6  Exception
For Collective Bargaining Unit. Sections 14.3 and 14.4 shall not apply
with respect to any employee included in a unit of employees covered by an
agreement which the Secretary of Labor finds to be a collective bargaining
agreement between employee representatives and one or more employers if there
is evidence that retirement benefits were the subject of good faith bargaining
between such employee representative and such employer or employers.

 

Schedule
A

 

BEMIS RETIREMENT PLAN

Locations
Where Hourly Paid Employees Are

Qualified Employees (Plan Sec. 2.19(a)(3))

1.       Effective
as of January 1, 1997:

(a)    Curwood Fremont, Ohio.

(b)    Curwood Bemistape Oshkosh, Wisconsin.

(c)    Curwood Weldon Oshkosh, Wisconsin.

(d)    Perfecseal Oshkosh, Wisconsin.

(e)    Milprint Lancaster, Wisconsin.

(f)     Milprint Lebanon, Pennsylvania.

(g)    MACtac Scranton, Pennsylvania.

(h)    Nellis, Nevada.

(i)     MACtac Kansas City

(j)     Bemis Hazleton, Pennsylvania.

2.       Effective
as of January 1, 1998:

(a)    Banner Oshkosh, Wisconsin.

(b)    Bemis Custom Products -
Shelbyville, Tennessee (formerly Paramount Tennessee).

3.       Effective
as of January 1, 1999:

(a)    Bemis Custom Products - Longview,
Texas (formerly Paramount Texas).

(b)    Morgan Adhesives Company - Columbus,
Indiana

4.       
Effective as of January 1, 2001:

(a)    Bemis Specialty Films - Oshkosh,
Wisconsin

(b)    Bemis Converter Films - Oshkosh,
Wisconsin

(c)    Curwood Snack Films - Oshkosh,
Wisconsin

5.       Effective
as of date employer became a Participating Employer:

(a)    Morgan Adhesives Company -
Lawrenceville, Georgia.

Note:  An hourly paid employee at a location
listed in “1”, “2” or “3” above is not a Qualified Employee with regard to
service prior to the effective date shown for that location.  Hourly paid employees at Lawrenceville
Georgia are Qualified Employees retroactive to the date Morgan Adhesives
Company became a Participating Employer.

Appendix
A

BEMIS
RETIREMENT PLAN

Modifications
Applicable to Certain

Employees and Former Employees of

Hayssen Manufacturing Company

          Prior to
April 1, 1980, Hayssen Manufacturing Company (“Hayssen”) maintained the Hayssen
Retirement Plan as a separate plan for the benefit of its eligible
employees.  Effective as of April 1,
1980, the Hayssen Retirement Plan was merged with and into the Bemis Retirement
Plan.  The following modifications of
the Bemis Retirement Plan are applicable in determining benefits payable with
respect to persons who were participants in the Hayssen Retirement Plan and who
terminated employment on or after January 1, 1989. Such persons are hereafter
referred to as “Hayssen Plan Participants”. 
This Appendix is also applicable in determining the pension payable to
any person who was a salaried employee of Hayssen and who transferred to a
position as a salaried employee of Bemis Company, Inc. prior to July 1, 1976,
and such a person is considered to be a “Hayssen Plan Participant”, provided he
is a Qualified Employee on January 1, 1980 and has a Termination of Employment
on or after January 1, 1989.

1.

          Hayssen is a
Participating Employer effective as of April 1, 1980.

2.

          A Hayssen
Plan Participant shall be deemed to have been a Qualified Employee during his
employment with Hayssen prior to April 1, 1980, subject to the provisions
of Sec. 2.19 other than Sec. 2.19(a). However, in the case of any person who
became a participant in the Hayssen Retirement Plan on or before January 1,
1980, service with Hayssen prior to January 1, 1980 in capacities other than as
an employee compensated in whole or in part on a regular stated salary basis or
employed in an office clerical or supervisory position shall not be excluded
from service as a Qualified Employee, except to the extent provided in Sec.
2.19(c).

3.

          A Hayssen
Plan Participant’s years of Elapsed Time shall be determined under Sec. 3.4;
subject to the following:

(a)      A Hayssen Plan Participant shall not have
fewer years of Elapsed Time for service prior to January 1, 1981 than his years
of vesting service for such service as defined in Section 1.01(z) of the
Hayssen Retirement Plan as in effect prior to the Merger Date.

(b)      If a Hayssen Plan Participant either (i)
has an Employment Commencement Date which is prior to January 1, 1976 or (ii)
has, on January 1, 1981, at least five years of vesting service as defined in
Section 1.01(z) of the Hayssen Retirement Plan, his years of Elapsed Time shall
not be less than the years of vesting service he would have had under Section
1.01(z) of the Hayssen Retirement Plan if said plan had remained in effect
until his Termination of Employment.

4.

          For purposes
of determining his Credited Service under Sec. 3.5, a Hayssen Plan
Participant’s Credited Service with respect to service as an employee of
Hayssen prior to January 1, 1976 shall be equal to his Credited Service
prior to January 1, 1976 as determined under the Hayssen Retirement Plan
as in effect on June 30, 1976; provided, however, that all service as a Qualified
Employee as defined in '2' of this Appendix shall be recognized in computing
said benefit if he became a participant in the Hayssen Retirement Plan on or
before January 1, 1980.  However,
in the case of any person referred to in the last sentence of the preamble to
this Appendix, his Credited Service prior to January 1, 1976 shall be
equal to the Credited Service he would have had under the Bemis Retirement Plan
if Hayssen had been a Participating Employer on and after the person’s Employment
Commencement Date.

5.

          Each Hayssen
Plan Participant shall be a Participant in the Plan as of April 1, 1980.

6.

          The
following sentences shall be added at the end of Sec. 6.5:

          In the case
of any person who became a participant in the Hayssen Retirement Plan prior to
January 1, 1980 and who was formerly a Participant in the Hayssen Manufacturing
Company Retirement Plan for Production, Maintenance and Nonsupervisory
Engineering Employees, said reduction of his monthly benefit shall be based on
the amount (expressed on a comparable basis that is an Actuarial Equivalent) he
would have been eligible to receive under said plan.  Said amount shall be the monthly benefit payable under said plan
plus any additional benefit attributable to his account balance under Hayssen
Manufacturing Company Employees' Trust Number 2.

7.

          7.1  Prior Service Benefit Described.  Prior to establishment of the Hayssen
Retirement Plan, Hayssen maintained a profit sharing plan for the benefit of
certain employees.  That plan was named
Hayssen Manufacturing Company Employees' Trust Number 1 (“Trust Number 1”).
Hayssen discontinued contributions to Trust Number 1 for calendar years 1972
and following.  Amounts held in Trust
Number 1 for the benefit of persons who became participants in the Hayssen
Retirement Plan, to the extent such amounts were attributable to employer
contributions, were transferred to the Hayssen Retirement Plan as of
December 31, 1972. Certain benefits under the Hayssen Retirement Plan were
based on the amounts so transferred plus interest.

          7.2  Definition of Prior Service Benefit.  A Hayssen Plan Participant’s “Prior Service
Benefit” is the value of his individual account in Trust Number 1 determined as
of December 31, 1972 plus accumulated interest thereon, determined as follows:

(a)      For the period from December 31,
1972 though December 31, 1984, accumulated interest shall be computed at
the annual rate of 5%, compounded annually.

(b)      For the period commencing January 1,
1985, accumulated interest shall be compounded annually, as of each
December 31, with interest for a particular Plan Year to be credited at
the same annual rate as was used as the interest rate in the actuarial
valuation of the Plan for the actuarial valuation date occurring within that
Plan Year.  However, no interest will be
credited for periods after the Participant’s death or the date as of which his
pension commences, whichever first occurs. 
For the year in which an event referred to in the preceding sentence occurs,
interest on the Participant’s Prior Service Benefit will be credited up to said
event based on the interest rate used at the end of the preceding Plan Year for
the year end adjustment of Prior Service Benefits.

          7.3  Election to Receive Prior Service Benefit.  Upon Termination of Employment, any Hayssen
Plan Participant may elect to receive his Prior Service Benefit.  A Hayssen Plan Participant who continues to
be employed by a Participating Employer after attaining age 65 may also elect
to receive his Prior Service Benefit. 
Said elections shall be made in accordance with rules prescribed by the
Company.  Said rules may prescribe the
method of so electing and the deadline by which the election must be filed with
the Company.  If a Participant makes
such an election, an amount equal to his Prior Service Benefit shall be paid to
him in one sum as soon as practicable after his election, provided he is living
on the payment date.  If a Participant’s
Prior Service Benefit is paid to him pursuant to this section, his benefit
under the Plan shall be reduced by an amount which is the Actuarial Equivalent
of the Prior Service Benefit.

          If a
Participant’s death occurs prior to the date payment of his Prior Service
Benefit would be made under this section, no payment shall be made under this
section, but his Beneficiary may be entitled to a benefit under 7.4 of this
Appendix.

          7.4 Other
Death Benefits.  After all benefits
payable with respect to a Participant have been paid (including any benefits
payable to the Participant during his lifetime plus any death benefits payable
under Sec. 7.1, 7.2, or 7.4), his Beneficiary shall be entitled to receive a
single sum payment equal to the amount, if any, by which (a) exceeds (b):

(a)      The Participant’s Prior Service Benefit.

(b)      All benefits paid to the Participant
during his lifetime (including monthly pension benefits and also including any
refund of his Prior Service Benefit pursuant to the foregoing provisions of
this Appendix) plus any death benefits payable under Sec. 7.1, 7.2, or 7.4.

          7.5  Distributions Prior to July 1, 1976.
In any case where a Hayssen Plan Participant’s benefit under Trust Number 1 was
paid to him prior to July 1, 1976 upon his transfer from employment with
Hayssen to a position as a salaried employee of Bemis Company, Inc., said
payment shall not result in any reduction of his Accrued Monthly Pension.

Appendix
B

BEMIS
RETIREMENT PLAN

Modifications
Applicable to Certain

Employees and Former Employees of

Perfecseal

          On April 29,
1996, Perfecseal, Inc. (“Perfecseal”), a wholly owned subsidiary of the
Company, acquired certain assets from Paper Manufacturers Company.  Paper Manufacturers Company sponsored the
Pension Plan of Paper Manufacturers Company (the “PMCO Plan”) for the benefit
of its salaried employees.  Salaried employees
of Perfecseal continued accruing benefits under the PMCO Plan through December
31, 1996.  Effective as of January 1,
1997, these employees became participants in the Bemis Retirement Plan.  Effective as of February 28, 1997, certain
assets and liabilities of the PMCO Plan were transferred to this Plan.  The following modifications of the Bemis
Retirement Plan are applicable in determining benefits payable with respect to
persons who were participants in the PMCO Plan and who terminated employment on
or after January 1, 1997.  Such persons
are hereafter referred to as “PMCO Plan Participants”.

1.

          Perfecseal is a Participating Employer
effective as of January 1, 1997.

2.

          A PMCO Plan Participant’s years of
Elapsed Time shall be determined under Sec. 3.4; subject to the following:

(a)      A PMCO Plan Participant’s Elapsed Time
for service prior to April 29, 1996 for purposes of determining vesting under
the Plan shall include continuous service with Paper Manufacturers Company and
its affiliates beginning on the Participant’s last date of hire prior to April
29, 1996.

(b)      A PMCO Plan Participant’s Elapsed Time
for purposes of determining vesting under the Plan shall not be less than the
Years of Vesting Service he would have had if the PMCO Plan, as in effect on
December 31, 1996, had remained in effect until his Termination of Employment.

3.

          Each PMCO
Plan Participant shall be a Participant in the Plan as of January 1, 1997 (or
as of the date he completes one Year of Eligibility Service, if later).

 

4.

          A PMCO Plan
Participant shall be eligible for Early Retirement as defined by Sec. 4.2 of
this Plan after he has attained age 55 and completed 5 years of Elapsed Time
and before he attains Normal Retirement Age. 
Similarly, the provisions of Sec. 7.1, which normally require 10 years
of Elapsed Time for early commencement of the Qualified Pre-retirement Survivor
Annuity, are modified to instead require five years.

                                      
                                       5.

          For purposes of determining a PMCO Plan
Participant’s Accrued Monthly Pension under Sec. 4.5, a Perfecseal Plan
Participant’s Accrued Monthly Pension shall be the sum of (a) plus (b):

(a)      His Accrued Benefit as of December 31,
1996 calculated in accordance with Sec. 3.1 of the PMCO Plan in effect before
the Merger.  For purposes of calculating
said Accrued Benefit, pay and service after December 31, 1996 will be
disregarded.

(b)      His Accrued Monthly Pension calculated
under Sec. 4.5 of this Plan, based solely upon pay and service after December
31, 1996.

6.

          If assets and liabilities of the PMCO
Plan with respect to a Participant whose Termination of Employment occurred
prior to January 1, 1997 are transferred to this Plan, and such Participant
does not have service under this Plan after December 31, 1996, his or her
benefits will be determined under the PMCO Plan, but will be paid by this Plan.

7.

          Sec. 12.4 of the Plan is modified by
adding new subsection (i) reading as follows:

          (i)       Notwithstanding
any of the foregoing provisions to the contrary, if the Plan is terminated on
or before January 1, 2002, the order of priority described in subsection (e) of
this section shall be modified to the extent necessary to comply with the
requirements of Code section 414(1) and any regulations issued pursuant thereto
as applicable to the merger of the PMCO Plan with and into the Plan.

 

 

Appendix
C

 

BEMIS
RETIREMENT PLAN

Modifications
Applicable to Certain

Employees and Former Employees of

Paramount Packaging Corporation -Tennessee

          On January
1, 1997, the Company acquired Paramount Packaging Corporation and its
subsidiaries, including Paramount Packaging Corporation - Tennessee (“Paramount
Tennessee”), a Tennessee corporation. 
Paramount Tennessee sponsored the Pension Plan for Salaried and Clerical
Employees of Paramount Packaging Corporation (Tennessee) (the “Paramount
Salaried Plan”), and the Pension Plan for Production and Maintenance Employees
of Paramount Packaging Corporation (Tennessee), (the “Paramount Hourly Plan”),
for the benefit of its employees.  These
plans are sometimes collectively referred to as the “Paramount Plans”.  The Paramount Plans were merged into the
Bemis Retirement Plan effective as of December 31, 1997.

          Benefits
payable with respect to participants in the Paramount Plans who terminated
employment prior to December 31, 1997 will be paid by this Plan, but will be
determined according to the terms of the 
Paramount Salaried Plan or Paramount Hourly Plan, whichever is
applicable, as in effect at the time the individual terminated employment.  However, Sec. 8.2 and 4.10(c) of this Plan
regarding lump sum payment of pensions having a present value of $5,000 or less
applies to said individuals, and the $5,000 amount applies regardless of the
individual’s termination date.

          Benefits
payable with respect to persons who are employees of Paramount Tennessee on or
after December 31, 1997 (hereafter referred to as “Paramount Plan
Participants”) will be determined under this Plan, subject to the following
terms of this Appendix:

1.

          Paramount
Tennessee is a Participating Employer effective as of January 1, 1998.

2.

          A Paramount
Plan Participant’s years of Elapsed Time shall be determined under Sec. 3.4,
but shall include service with Paramount Tennessee and its affiliates prior to
January 1, 1998, on the same basis as if they had then been under Common
Control with the Company.

3.

          Each
Paramount Plan Participant shall be a Participant in the Plan as of January 1,
1998 (or as of the date he completes one Year of Eligibility Service, if
later).

4.

          If a person
who was an employee of Paramount Tennessee on December 31, 1997 has a  Termination of Employment after he has
completed three but fewer than four years of Elapsed Time, he will be 20%
vested, and if his Termination of Employment occurs after he has completed four
but fewer than five years of Elapsed Time, he shall be 40% vested.  In such cases the Participant will be
eligible for a benefit under Sec. 6.4, but the benefit amount will be adjusted
to reflect the vested percentage.  The
foregoing special vesting rule applies to the individual’s entire benefit, not
just the portion accrued before 1998.

5.

          A Paramount Plan Participant’s Accrued
Monthly Pension under Sec. 4.5 shall be the sum of (a) plus (b):

(a)      His Accrued Monthly Pension as of
December 31, 1997 calculated in accordance with Sec. 1.1 of the Paramount
Salaried Plan or Paramount Hourly Plan, whichever is applicable, as in effect
immediately before the merger of the Paramount Plans into this Plan.  For purposes of calculating said Accrued
Monthly Pension, service after December 31, 1997 will be disregarded.

(b)      His Accrued Monthly Pension calculated
under Sec. 4.5 of this Plan, based solely upon pay and service after December
31, 1997.

6.

          A Paramount
Plan Participant’s monthly pension will not be less than his “Minimum Monthly
Pension” determined as follows:

(a)      The amount of said Minimum Monthly
Pension will be the Participant’s Accrued Monthly Pension as of December 31,
1997, calculated in accordance with Sec. 1.1 of the Paramount Salaried Plan or
Paramount Hourly Plan, whichever is applicable, adjusted as provided in (b),
(c), and (d).  For purposes of
calculating said Minimum Monthly Pension, service after December 31, 1997 will
be disregarded.

(b)      If the Participant’s pension begins
before he attains age 65, the Minimum Monthly Pension will be reduced by 5/9 of
1% for each month by which the commencement date precedes the end of the month
in which he attains age 65.  Said
reduction does not apply if the Participant’s pension begins after he attains
age 65.

(c)      The Minimum Monthly Pension will be
multiplied by a fraction, the numerator of which is 100 and the denominator of
which is 97, to reflect the value of the life and 60 months certain normal form
of payment under the Paramount Plans.

(d)      If the Participant’s pension is being
paid in a form other than life only, the Minimum Monthly Pension will be
adjusted as provided in Sec. 4.10(a) of this Plan or Section 7 of this Appendix
to reflect the payment form elected.

(e)      For purposes of determining whether a
Paramount Plan Participant’s benefit will be paid in a single sum pursuant to
Sec. 8.2 of this Plan, and for purposes of determining the amount of the single
sum payment, the lump sum benefit will be the amount in (i) or the amount in
(ii), whichever is greater:

(i)       The Actuarial Equivalent present value of
a monthly pension for the Participant’s lifetime beginning the first day of the
month following his attainment of age 65 (or following his Termination of
Employment if after he attains age 65), in a monthly amount equal to the amount
in (a) of section 5 of this Appendix, adjusted as provided in (c) of section 6
of this Appendix to reflect the value of the life and 60-months-certain normal
form of payment under the Paramount Plan.

(ii)      The Actuarial Equivalent present value of
a monthly pension for the Participant’s lifetime beginning the first day of the
month following the date he attains Normal Retirement Age (as defined in Sec.
2.15 of this Plan) or following his Termination of Employment if after he attains
Normal Retirement Age, in a monthly amount equal to the sum of the amounts in
(a) and (b) of section 5 of this Appendix.

The
Actuarial Equivalent factors in Sec. 4.10(c) of this Plan will be used to
calculate said present values.  If
either amount is more than $5,000, no lump sum payment will be made, and the
Participant will instead receive a monthly pension.

7.

          In addition
to the optional settlements listed in Sec. 7.4 of the Plan, a Paramount Plan
Participant may elect an option providing a reduced monthly pension payable to
the Participant commencing on the same date as that upon which payments would
otherwise commence and terminating with the last monthly payment before his
death.  If his death occurs on or after
the due date of the first monthly payment under the option and before 60
monthly payments have been made to him, such benefit shall be continued to his
Beneficiary until a total of 60 monthly payments have been made to him and his
Beneficiary.  If the Participant elects
this option, his monthly pension will be 97% of the amount otherwise payable.

8.

          Sec. 12.4 of the Plan is modified by
adding new subsection (i) reading as follows:

          (i)       Notwithstanding
any of the foregoing provisions to the contrary, if the Plan is terminated on
or before December 31, 2002, the order of priority described in subsection (e)
of this section shall be modified to the extent necessary to comply with the
requirements of Code section 414(1) and any regulations issued pursuant thereto
as applicable to the merger of the Paramount Plans with and into the Plan.

Appendix
D

BEMIS
RETIREMENT PLAN

Modifications
Applicable to Certain

Employees and Former Employees of

Paramount Packaging Corporation -Texas

          On January
1, 1997, the Company acquired Paramount Packaging Corporation and its
subsidiaries, including Paramount Packaging Corporation - Texas (“Paramount
Texas”), a Texas corporation with operations at Longview, Texas.  Paramount Texas sponsored the Pension Plan
for Longview Employees of Paramount Packaging Corporation (Texas) (the
“Paramount Texas Plan”), for the benefit of its salaried and hourly
employees.  On December 31, 1997, the
Paramount Texas Plan was merged into the Bemis Company, Inc. Retirement Plan for
Bemis Hourly Employees (the “BHRP”).  Effective
as of December 31, 1998, assets and liabilities of the BHRP with respect to the
following individuals at Longview, Texas were transferred to this Plan:

(i)       Hourly employees hired before January 1,
1998 who were active employees on January 1, 1999 (“Paramount Hourly
Employees”).

(ii)      Salaried employees hired before January
1, 1997 who were active employees on January 1, 1999, or who terminated
employment during 1997 or 1998 (“Paramount Salaried Employees”).  However, if such an individual terminated
employment and received a lump sum cash distribution from this Plan prior to
the date the assets were transferred from the BHRP, his or her remaining
benefit will remain in the BHRP and will not be transfered to this Plan.

          Benefits
payable with respect to such persons will be determined under this Plan,
subject to the terms of this Appendix. 
Benefits for other participants in the Paramount Texas Plan (i.e.,
hourly employees who terminated before January 1, 1999 or salaried employees
who terminated before January 1, 1997) will be paid by the BHRP.

1.

          Such an
individual’s Elapsed Time includes service with Paramount Texas and its
affiliates prior to January 1, 1997 on the same basis as if they had then been
under Common Control with the Company.

2.

          Such employees
will be eligible to participate in this Plan as of whichever of the following
dates is applicable:

          (1)      For Paramount Salaried Employees, January
1, 1997.

          (2)      For Paramount Hourly Employees, January
1, 1999.

3.

          If a person
who was a participant in the Paramount Texas Plan on December 31, 1997 has a
Termination of Employment after he has completed three, but fewer than four
years of Elapsed Time, he will be 20% vested, and if his Termination of
Employment occurs after he has completed four, but fewer than five years of
Elapsed Time, he shall be 40% vested. 
In such cases, the Participant will be eligible for a benefit under Sec.
6.4, but the benefit amount will be adjusted to reflect the vested percentage.  The foregoing special vesting rule applies
to the individual’s entire benefit.

4.

          For
Paramount Salaried Employees, the Accrued Monthly Pension under Sec. 4.5 means
the sum of (a) plus  (b):

(a)      $15 multiplied by his credited service
through December 31, 1996 determined under the Paramount Texas Plan.

(b)      His Accrued Monthly Pension calculated
under Sec. 4.5 of this Plan, based solely upon pay and service after December
31, 1996.

          For
Paramount Hourly Employees, the Accrued Monthly Pension under Sec. 4.5 means
the sum of (c) plus (d) plus (e):

(c)      $15 multiplied by his credited service
through December 31, 1997 determined under the Paramount Texas Plan.

(d)      $15 multiplied by his credited service
during 1998 determined under the BHRP.

(e)      His Accrued Monthly Pension calculated
under Sec. 4.5 of this Plan, based solely upon pay and service after December
31, 1998.

5.

          Such an
employee’s monthly pension will not be less than his “Minimum Monthly Pension”
determined as follows:

(a)      The amount of said Minimum Monthly
Pension will be the Participant’s Accrued Monthly Pension as of December 31,
1997, calculated in accordance with Sec. 1.1 of the Paramount Texas Plan,
adjusted as provided in (b), (c), and (d). 
For purposes of calculating said Minimum Monthly Pension, service after
December 31, 1997 will be disregarded.

(b)      If the Participant’s pension begins
before he attains age 65, the Minimum Monthly Pension will be reduced by 5/9 of
1% for each month by which the commencement date precedes the end of the month
in which he attains age 65.  Said
reduction does not apply if the Participant’s pension begins after he attains
age 65.

(c)      The Minimum Monthly Pension will be
multiplied by a fraction, the numerator of which is 100 and the denominator of
which is 97, to reflect the value of the life and 60 months certain normal form
of payment under the Paramount Texas Plan.

(d)      If the Participant’s pension is being
paid in a form other than life only, the Minimum Monthly Pension will be
adjusted as provided in Sec. 4.10(a) of this Plan or Section 6 of this Appendix
to reflect the payment form elected.

(e)      For purposes of determining whether the
benefit will be paid in a single sum pursuant to Sec. 8.2 of this Plan, and for
purposes of determining the amount of the single sum payment, the lump sum
benefit will be the amount in (i) or the amount in (ii), whichever is greater:

(i)       The Actuarial Equivalent present value of
a monthly pension for the Participant’s lifetime beginning the first day of the
month following his attainment of age 65 (or following his Termination of
Employment if after he attains age 65), in a monthly amount equal to the amount
in (a) adjusted as provided in (c) to reflect the value of the life and
60-months-certain normal form of payment under the Paramount Texas Plan.

(ii)      The Actuarial Equivalent present value of
a monthly pension for the Participant’s lifetime beginning the first day of the
month following the date he attains Normal Retirement Age (as defined in Sec.
2.15 of this Plan) or following his Termination of Employment if after he attains
Normal Retirement Age, in a monthly amount determined under Section 4 of this
Appendix.

The
Actuarial Equivalent factors in Sec. 4.10(c) of this Plan will be used to
calculate said present values.  If
either amount is more than $5,000, no lump sum payment will be made, and the
Participant will instead receive a monthly pension.

6.

          In addition
to the optional settlements listed in Sec. 7.4 of the Plan, Paramount Salaried
Employees and Paramount Hourly Employees may elect an option providing a reduced
monthly pension payable to the Participant commencing on the same date as that
upon which payments would otherwise commence and terminating with the last
monthly payment before his death.  If
his death occurs on or after the due date of the first monthly payment under
the option and before 60 monthly payments have been made to him, such benefit
shall be continued to his Beneficiary until a total of 60 monthly payments have
been made to him and his Beneficiary. 
If the Participant elects this option, his monthly pension will be 97%
of the amount otherwise payable.

7.

          Sec. 12.4 of the Plan is modified by
adding new subsection (i) reading as follows:

          (i)       Notwithstanding
any of the foregoing provisions to the contrary, if the Plan is terminated on
or before December 31, 2003, the order of priority described in subsection (e)
of this section shall be modified to the extent necessary to comply with the
requirements of Code section 414(1) and any regulations issued pursuant thereto
as applicable to the merger of the Paramount Texas Plan into the BHRP and the
transfer of assets from the BHRP to this Plan.

                                    
                                          
                                          
                  Appendix E

BEMIS
RETIREMENT PLAN

Modifications
Applicable to Certain Employees

Part One:  The Accrued Monthly Pension of each employee
on the following list shall not be less than the amount determined under the
formula in Sec. 4.5(d):

	 

  	
  Name
  of Employee
  
  

  

  	
  Date
  of Birth
  
  

  

  
	 
  	
  Robert
  Mlnarik
  	
  02/28/41
  
	 
  	
  Neal
  Ganly
  	
  02/25/33
  
	 
  	
  Benjamin
  F. Field III
  	
  11/01/38
  
	 
  	
  John
  T. Roe III
  	
  12/21/39
  
	 
  	
  Scott
  Johnson
  	
  04/10/40
  
	 
  	
  Lawrence
  E. Schwanke
  	
  11/30/40
  
	 
  	
  Thomas
  Sall
  	
  08/04/44
  
	 
  	
  Jeffrey
  Curler
  	
  09/03/50
  

Part Two: The Accrued
Monthly Pension of each of the following employees shall not be less than the
amount shown:

	

Name of Employee

  
  

  

  	

Date of Birth

  
  

  

  	

Amount

  
  

  

  
	
  David
  Weisgerber
  	
  11/18/37
  	
  $8,750.60
  
	
  John
  Rottunda
  	
  03/08/44
  	
  $5,827.63

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