Document:

Exhibit 10.1

             [The CIT Group/ Business Credit, Inc. Letterhead]

                                                     August 2, 2002

UNITED RETAIL GROUP, INC.
UNITED RETAIL INCORPORATED
CLOUDWALKERS, INC.
365 West Passaic Street
Rochelle Park, NJ  07662

Gentlemen:

We refer to the Financing Agreement between us dated August 15, 1997, as
amended (herein the "Financing Agreement"). Capitalized terms used and not
otherwise defined herein shall have the meanings specified therein unless
otherwise specifically defined herein.

This letter is to confirm that pursuant to mutual consent and
understanding, effective as of the date hereof, the definitions of
"Anniversary Date" and "Cumulative Excess Cash Flow" as defined to in
Section 1 of the Financing Agreement shall be, and each hereby is, deleted
in its entirelty and replaced by the following:

         "Anniversary Date shall mean August 15, 2005 and the same date in
         every year thereafter."

         "Cumulative Excess Cash Flow shall mean EBITDA after August 2,
         1997 minus Interest Expense minus income taxes paid in cash plus
         income tax refunds received in cash minus principal payments on
         Indebtedness minus non-financed Capital Expenditures."

Except as herein specifically provided, the Financing Agreement remains in
full force and effect in accordance with its terms and no other changes in
the terms or provisions of the Financing Agreement is intended or implied.
If you are in agreement with the foregoing, please so indicate by signing
and returning to us the enclosed copy of this letter.

                                             Very truly yours,

                                             THE CIT GROUP/BUSINESS
                                             CREDIT, INC., as Agent and Lender

                                             By: /s/ Steven Schuit
                                                ------------------------------
                                             Title:   Steven Schuit
                                                      Vice President
                                                      Team Leader

Read and Agreed to:

UNITED RETAIL GROUP, INC.

By: /s/ George Remeta
   --------------------------------
Title:

UNITED RETAIL INCORPORATED

By: /s/ Kenneth P. Carroll
   ---------------------------------
Title: President

CLOUDWALKERS, INC.

By: /s/ Julie L. Daly
   ---------------------------------
Title: Vice-PresidentExhibit 10.2

                   AMENDMENT TO THE AMENDED AND RESTATED
                            UNITED RETAIL GROUP
                    SUPPLEMENTAL RETIREMENT SAVINGS PLAN

                                  RECITALS

         United Retail Group, Inc. (the "Company") maintains for the
benefit of its employees the United Retail Group Supplemental Retirement
Savings Plan (the "Plan").

         The Company has adopted, effective as of January 1, 1997 an
amendment and restatement of the Plan.

         The Company wishes to revise certain provisions which appear in
the Plan.

         Therefore, this Amendment to the Plan shall be adopted effective
as of September 1, 2002.

                                 AMENDMENT

I.       Section 1 of the Plan shall be amended by inserting the following
         definition:

                  "Change in Control" means (a) the acquisition after
         September 1, 2002 by any person (defined for the purposes of this
         Section to mean any person within the meaning of Section 13(d) of
         the Securities Exchange Act of 1934(the "Exchange Act")), other
         than the Company, the Chief Executive Officer of the Company, or
         an employee benefit plan created by the Board of Directors of the
         Company for the benefit of its Associates, either directly or
         indirectly, of the beneficial ownership (determined under Rule
         13d-3 of the Regulations promulgated by the Securities and
         Exchange Commission ("SEC") under Section 13(d) of the Exchange
         Act) of any securities issued by the Company if, after such
         acquisition, such person is the beneficial owner of securities
         issued by the Company having 20% or more of the voting power in
         the election of Directors at the next meeting of the holders of
         voting securities to be held for such purpose of all of the voting
         securities issued by the Company, if such person acquired such
         beneficial ownership without the prior consent of the Board of
         Directors of the Company; (b) the election of a majority of the
         Directors, elected at any meeting of the holders of voting
         securities of the Company, who were not nominated for such
         election by the Board of Directors or a duly constituted committee
         of the Board of Directors; or (c) the merger or consolidation with
         or transfer of substantially all of the assets of the Company to
         another person if the Board of Directors does not adopt a
         resolution, before the Company enters into any agreement for such
         merger, consolidation or transfer, determining that it is not a
         Change in Control."

II.      Section 6.1.2 of the Plan shall be amended by adding the following
         sentence at the end of the section:

                  "Except as provided in Section 7 in the event of certain
         withdrawals by Participants, a Participant's Supplemental Matching
         Account will become fully vested upon the occurrence of a Change
         in Control."

III.     Section 7.2 of the Plan shall be amended in its entirety and
         restated to read as follows:

                  "7.2. Benefit upon Separation Date or Change in Control.
         Upon the occurrence of a Change in Control or the Participant's
         Separation Date, the Participant will receive a retirement benefit
         in an amount equal to the undistributed vested portion of the
         Participant's Account. The Participant's Account shall be valued
         as of the Valuation Date coinciding with or as soon as
         administratively practicable preceding the date of the
         distribution. Notwithstanding the foregoing, if a Participant dies
         before receiving a distribution of his or her vested Account, his
         or her Beneficiary will receive a death benefit, as determined
         under Section 7.3., below."

IV.      In all other respects, the Plan shall remain unchanged.

         Dated this 30th day of August, 2002.

                                                 UNITED RETAIL GROUP, INC.

                                                 By: Kenneth P. Carroll
                                                     -------------------------

                                                 Title: Senior Vice President
                                                        ----------------------Exhibit 10.3

         This Purchase and Sale Agreement, dated as of July 1, 2002,
between Raphael Benaroya (the "Employee") and UNITED RETAIL GROUP, INC.,
(the "Issuer").

         Whereas, the Employee is employed by the Issuer;

         Whereas, the Issuer holds a promissory note, dated November 30,
2001, issued by the Employee to the order of the Issuer in the principal
amount of $2,844,393.24 (the "Note");

         Whereas, the Employee is the sole owner, among other things, of
278,529 Units of the Issuer's stock (the "Purchased Shares");

         Whereas, the Employee wishes to sell and convey the Purchased
Shares to the Issuer in exchange for the cancellation of his Note (the
"Exchange"); and

         Whereas, the Compensation Committee of the Board of Directors of
the Issuer at a meeting held on July 1, 2002 authorized any officer of the
Issuer to consummate the Exchange.

         NOW, THEREFORE, the parties agree as follows:

1. The Employee shall surrender to the Issuer for cancellation stock
certificates registered in his name representing 278,529 Units of the
Issuer's stock and shall deliver to the Issuer stock powers executed in
blank therefor.

2. The Units represented by the cancelled certificates shall become
treasury stock of the Issuer.

3. Each such Unit shall be deemed to have a value equal to the closing
price on the NASDAQ National Market on Friday, June 28, 2002, that is,
$10.50.

4. The value of such Units shall be set off against the outstanding
principal of and accrued interest on the Note as payment in full in lieu of
payment in cash.

5. The Note shall be cancelled by the Issuer and returned to the Employee.

6. The Employee represents and warrants to the Issuer that (i) he is the
sole owner of the Purchased Shares free and clear of liens and encumbrances
and (ii) no option, warrant or other right to purchase the Purchased Shares
is outstanding.

7. The Issuer represents to the Employee that it is the sole owner of the
Note free and clear of liens and encumbrances.

IN WITNESS WHEREOF, the parties have executed this Agreement in the City of
Rochelle Park, New Jersey, in the case of the Issuer by an officer
thereunto duly authorized.

/s/ Raphael Benaroya
____________________                        UNITED RETAIL GROUP, INC.
   Raphael Benaroya

                                            By: /s/ George R. Remeta
                                                ------------------------------
                                                Chief Administrative Officer<PAGE>

                                                                     Exhibit 4.1

                               COMCAST CORPORATION

                             1996 STOCK OPTION PLAN

               (As Amended and Restated, Effective April 29, 2002)

          1.   Purpose of Plan

The purpose of the Plan is to assist the Company in retaining valued employees,
officers and directors by offering them a greater stake in the Company's success
and a closer identity with it, and to aid in attracting individuals whose
services would be helpful to the Company and would contribute to its success.

          2.   Definitions

                  (a) "Affiliate" means, with respect to any Person, any other
Person that, directly or indirectly, is in control of, is controlled by, or is
under common control with, such Person. For purposes of this definition, the
term "control," including its correlative terms "controlled by" and "under
common control with," mean, with respect to any Person, the possession, directly
or indirectly, of the power to direct or cause the direction of the management
and policies of such Person, whether through the ownership of voting securities,
by contract or otherwise.

                  (b) "Board" means the board of directors of the Sponsor.

                  (c) "Cash Right" means any right to receive cash in lieu of
Shares granted under the Plan and described in Paragraph 3(a)(iii).

                  (d) "Cause" means:

                        (i)  for an employee of a Company, a finding by the
     Committee, after full consideration of the facts presented on behalf of
     both the Company and the employee, that the employee has breached his
     employment contract with a Company, has disclosed trade secrets of a
     Company or has been engaged in any sort of disloyalty to a Company,
     including, without limitation, fraud, embezzlement, theft, commission of a
     felony or proven dishonesty in the course of his employment.

                        (ii) for a Non-Employee Director, a finding by the
     Committee, after full consideration of the facts presented on behalf of
     both the Company and the Director, that such Non-Employee Director has
     disclosed trade secrets of a Company, or has been engaged in any sort of
     disloyalty to a Company, including, without limitation, fraud,
     embezzlement, theft, commission of a felony or proven dishonesty in the
     course of his service as a Non-Employee Director.

                  (e) "Change of Control" means any transaction or series of
transactions as a result of which any Person who was a Third Party immediately
before such transaction or series of transactions owns then-outstanding
securities of the Sponsor having more than 50 percent of the voting power for
the election of directors of the Sponsor.

<PAGE>

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

                  (g) "Comcast Plan" means any restricted stock, stock bonus,
stock option or other compensation plan, program or arrangement established or
maintained by the Company or an Affiliate, including but not limited to this
Plan, the Comcast Corporation 1997 Deferred Stock Option Plan, the Comcast
Corporation 1990 Restricted Stock Plan and the Comcast Corporation 1987 Stock
Option Plan.

                  (h) "Committee" means the committee described in Paragraph 5.

                  (i) "Common Stock" means:

                        (i)  the Sponsor's Class A Special Common Stock, par
     value, $1.00; and

                        (ii) subject to the approval of the Sponsor's
     shareholders, the Sponsor's Class B Common Stock, par value, $1.00.

                  (j) "Company" means the Sponsor and each of the Parent
Companies and Subsidiary Companies.

                  (k) "Date of Grant" means the date as of which an Option is
granted.

                  (l) "Disability" means a disability within the meaning of
section 22(e)(3) of the Code.

                  (m) "Election Date" means the date on which an individual is
first elected to the Board as a Non-Employee Director, or is elected to the
Board as a Non-Employee Director following a period of one year or more during
which such individual was not a member of the Board.

                  (n) "Fair Market Value." If Shares are listed on a stock
exchange, Fair Market Value shall be determined based on the last reported sale
price of a Share on the principal exchange on which Shares are listed on the
last trading day prior to the date of determination, or, if Shares are not so
listed, but trades of Shares are reported on the Nasdaq National Market, the
last quoted sale price of a Share on the Nasdaq National Market on the last
trading day prior to the date of determination, or, if Shares are not so
reported, the fair market value as determined by the Board or the Committee in
good faith.

                  (o) "Grant Date" means each February 1st after the date of
adoption of the Plan by the Board.

                  (p) "Immediate Family" means an Optionee's spouse and lineal
descendants, any trust all beneficiaries of which are any of such persons and
any partnership all partners of which are any of such persons.

                  (q) "Incentive Stock Option" means an Option granted under the
Plan, designated by the Committee at the time of such grant as an Incentive
Stock Option within the meaning of section 422 of the Code and containing the
terms specified herein for Incentive Stock Options; provided, however, that to
the extent an Option granted under the Plan and designated

                                      -2-

<PAGE>

by the Committee at the time of grant as an Incentive Stock Option fails to
satisfy the requirements for an incentive stock option under section 422 of the
Code for any reason, such Option shall be treated as a Non-Qualified Option.

                  (r) "Non-Employee Director" means an individual who is a
member of the Board, and who is not an employee of a Company, including an
individual who is a member of the Board and who previously was an employee of a
Company.

                  (s) "Non-Qualified Option" means:

                        (i)  an Option granted under the Plan, designated by the
     Committee at the time of such grant as a Non-Qualified Option and
     containing the terms specified herein for Non-Qualified Options; and

                        (ii) an Option granted under the Plan and designated by
     the Committee at the time of grant as an Incentive Stock Option, to the
     extent such Option fails to satisfy the requirements for an incentive stock
     option under section 422 of the Code for any reason.

                  (t) "Option" means any stock option granted under the Plan and
described in Paragraph 3(a).

                  (u) "Optionee" means a person to whom an Option has been
granted under the Plan, which Option has not been exercised in full and has not
expired or terminated.

                  (v) "Other Available Shares" means, as of any date, the
excess, if any of:

                        (i)  the total number of Shares owned by an Optionee;
     over

                        (ii) the sum of:

                             (a)  the number of Shares owned by such Optionee
                                  for less than six months; plus

                             (b)  the number of Shares owned by such Optionee
                                  that has, within the preceding six months,
                                  been the subject of a withholding
                                  certification pursuant to Paragraph 16(b) or
                                  any similar withholding certification under
                                  any other Comcast Plan; plus

                             (c)  the number of Shares owned by such Optionee
                                  that has, within the preceding six months,
                                  been received in exchange for Shares
                                  surrendered as payment, in full or in part, of
                                  the exercise price for an option to purchase
                                  any securities of the Sponsor or an Affiliate
                                  under any Comcast Plan, but only to the extent
                                  of the number of Shares surrendered; plus

                             (d)  the number of Shares owned by such Optionee as
                                  to which evidence of ownership has, within the

                                      -3-

<PAGE>

                                  preceding six months, been provided to the
                                  Company in connection with the crediting of
                                  "Deferred Stock Units" to such Optionee's
                                  Account under the Comcast Corporation 1997
                                  Deferred Stock Option Plan.

For purposes of this Paragraph 2(v), a Share that is subject to a deferral
election pursuant to another Comcast Plan shall not be treated as owned by an
Optionee until all conditions to the delivery of such Share have lapsed. For
purposes of Paragraphs 7(d), 8(d) and 16(b), the number of Other Available
Shares shall be determined separately for the Sponsor's Class A Special Common
Stock, par value, $1.00, the Sponsor's Class A Common Stock, par value, $1.00
and the Sponsor's Class B Common Stock, par value, $1.00.

                  (w) "Outside Director" means a member of the Board who is an
"outside director" within the meaning of section 162(m)(4)(C) of the Code and
applicable Treasury Regulations issued thereunder.

                  (x) "Parent Company" means all corporations that, at the time
in question, are parent corporations of the Sponsor within the meaning of
section 424(e) of the Code.

                  (y) "Person" means an individual, a corporation, a
partnership, an association, a trust or any other entity or organization.

                  (z) "Plan" means the Comcast Corporation 1996 Stock Option
Plan.

                  (aa) "Roberts Family." Each of the following is a member of
the Roberts Family:

                        (i)   Brian L. Roberts;

                        (ii)  a lineal descendant of Brian L. Roberts; or

                        (iii) a trust established for the benefit of any of
     Brian L. Roberts and/or a lineal descendant or descendants of Brian L.
     Roberts.

                  (bb) "Share" or "Shares" means:

                        (i) for all purposes of the Plan, a share or shares of
     Common Stock or such other securities issued by the Sponsor as may be the
     subject of an adjustment under Paragraph 11.

                        (ii) solely for purposes of Paragraphs 2(n), 2(v), 7(d),
     8(d) and 16(b), the term "Share" or "Shares" also means a share or shares
     of the Sponsor's Class A Common Stock, par value, $1.00.

                  (cc) "Sponsor" means Comcast Corporation, a Pennsylvania
corporation, including any successor thereto by merger, consolidation,
acquisition of all or substantially all the assets thereof, or otherwise.

                                      -4-

<PAGE>

                  (dd) "Subsidiary Companies" means all corporations that, at
the time in question, are subsidiary corporations of the Sponsor within the
meaning of section 424(f) of the Code.

                  (ee) "Ten Percent Shareholder" means a person who on the Date
of Grant owns, either directly or within the meaning of the attribution rules
contained in section 424(d) of the Code, stock possessing more than 10% of the
total combined voting power of all classes of stock of his employer corporation
or of its parent or subsidiary corporations, as defined respectively in sections
424(e) and (f) of the Code, provided that the employer corporation is a Company.

                  (ff) "Terminating Event" means any of the following events:

                            (i)  the liquidation of the Sponsor; or

                            (ii) a Change of Control.

                  (gg) "Third Party" means any Person other than a Company,
together with such Person's Affiliates, provided that the term "Third Party"
shall not include the Sponsor, an Affiliate of the Sponsor or any member or
members of the Roberts Family.

                  (hh) "1933 Act" means the Securities Act of 1933, as amended.

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

          3.   Rights To Be Granted

                  (a) Types of Options and Other Rights Available for Grant.
Rights that may be granted under the Plan are:

                            (i)   Incentive Stock Options, which give an
     Optionee who is an employee of a Company the right for a specified time
     period to purchase a specified number of Shares for a price not less than
     the Fair Market Value on the Date of Grant;

                            (ii)  Non-Qualified Options, which give the Optionee
     the right for a specified time period to purchase a specified number of
     Shares for a price determined by the Committee; and

                            (iii) Cash Rights, which give an Optionee the right
     for a specified time period, and subject to such conditions, if any, as
     shall be determined by the Committee and stated in the option document, to
     receive a cash payment of such amount per Share as shall be determined by
     the Committee and stated in the option document, in lieu of exercising a
     Non-Qualified Option.

In addition, rights that may be granted under the Plan shall include Incentive
Stock Options or Non-Qualified Options to purchase a specified number of Shares
of the Sponsor's Class A Special Common Stock, par value $1.00, which shall be
automatically converted into Incentive Stock Options or Non-Qualified Options to
purchase the same number of Shares of the Sponsor's Class B Common Stock, par
value $1.00, upon and subject to the approval by the Sponsor's shareholders of
the amendment to the Plan adopted by the Board on October 5, 2000 to make the

                                      -5-

<PAGE>

Sponsor's Class B Common Stock, par value $1.00 available for the grant of
Options under the Plan.

                  (b) Limit on Grant of Options. The maximum number of Shares
for which Options may be granted to any single individual in any calendar year,
adjusted as provided in Paragraph 11, shall be 10,000,000 Shares.

                  (c) Presumption of Incentive Stock Option Status. Each Option
granted under the Plan to an employee of a Company is intended to be an
Incentive Stock Option, except to the extent any such grant would exceed the
limitation of Paragraph 9 and except for any Option specifically designated at
the time of grant as an Option that is not an Incentive Stock Option.

          4.   Shares Subject to Plan

          Subject to adjustment as provided in Paragraph 11, not more than
75,000,000 Shares in the aggregate may be issued pursuant to the Plan upon
exercise of Options. Shares delivered pursuant to the exercise of an Option may,
at the Sponsor's option, be either treasury Shares or Shares originally issued
for such purpose. If an Option covering Shares terminates or expires without
having been exercised in full, other Options may be granted covering the Shares
as to which the Option terminated or expired.

          5.   Administration of Plan

                  (a) Committee. The Plan shall be administered by the
Subcommittee on Performance Based Compensation of the Compensation Committee of
the Board or any other committee or subcommittee designated by the Board,
provided that the committee administering the Plan is composed of two or more
non-employee members of the Board, each of whom is an Outside Director.
Notwithstanding the foregoing, if Non-Employee Directors are granted Options in
accordance with the provisions of Paragraph 8, the directors to whom such
Options will be granted, the timing of grants of such Options, the Option Price
of such Options and the number of Option Shares included in such Options shall
be as specifically set forth in Paragraph 8. No member of the Committee shall
participate in the resolution of any issue that exclusively involves an Option
granted to such member.

                  (b) Meetings. The Committee shall hold meetings at such times
and places as it may determine. Acts approved at a meeting by a majority of the
members of the Committee or acts approved in writing by the unanimous consent of
the members of the Committee shall be the valid acts of the Committee.

                  (c) Exculpation. No member of the Committee shall be
personally liable for monetary damages for any action taken or any failure to
take any action in connection with the administration of the Plan or the
granting of Options thereunder unless (i) the member of the Committee has
breached or failed to perform the duties of his office, and (ii) the breach or
failure to perform constitutes self-dealing, wilful misconduct or recklessness;
provided, however, that the provisions of this Paragraph 5(c) shall not apply to
the responsibility or liability of a member of the Committee pursuant to any
criminal statute.

                                      -6-

<PAGE>

                  (d) Indemnification. Service on the Committee shall constitute
service as a member of the Board. Each member of the Committee shall be entitled
without further act on his part to indemnity from the Sponsor to the fullest
extent provided by applicable law and the Sponsor's By-laws in connection with
or arising out of any actions, suit or proceeding with respect to the
administration of the Plan or the granting of Options thereunder in which he may
be involved by reasons of his being or having been a member of the Committee,
whether or not he continues to be such member of the Committee at the time of
the action, suit or proceeding.

          6.   Eligibility

                  (a) Eligible individuals to whom Options may be granted shall
be employees, officers or directors of a Company who are selected by the
Committee for the grant of Options. Eligible individuals to whom Cash Rights may
be granted shall be individuals who are employees of a Company on the Date of
Grant. The terms and conditions of Options granted to individuals other than
Non-Employee Directors shall be determined by the Committee, subject to
Paragraph 7. The terms and conditions of Cash Rights shall be determined by the
Committee, subject to Paragraph 7. The terms and conditions of Options granted
to Non-Employee Directors shall be determined by the Committee, subject to
Paragraph 8.

                  (b) An Incentive Stock Option shall not be granted to a Ten
Percent Shareholder except on such terms concerning the option price and term as
are provided in Paragraph 7(b) and 7(g) with respect to such a person. An Option
designated as Incentive Stock Option granted to a Ten Percent Shareholder but
which does not comply with the requirements of the preceding sentence shall be
treated as a Non-Qualified Option. An Option designated as an Incentive Stock
Option shall be treated as a Non-Qualified Option if (i) the Optionee is not an
employee of a Company on the Date of Grant or (ii) the only Company by which the
Optionee is employed on the Date of Grant is an entity described in Paragraph
2(dd)(ii).

          7.   Option Documents and Terms - In General

          All Options granted to Optionees other than Non-Employee Directors
shall be evidenced by option documents. The terms of each such option document
shall be determined from time to time by the Committee, consistent, however,
with the following:

                  (a) Time of Grant. All Options shall be granted within 10
years from the earlier of (i) the date of adoption of the Plan by the Board, or
(ii) approval of the Plan by the shareholders of the Sponsor.

                  (b) Option Price. The option price per Share with respect to
any option shall be determined by the Committee, provided, however, that with
respect to any Incentive Stock Options, the option price per share shall not be
less than 100% of the Fair Market Value of such Share on the Date of Grant, and
provided further that with respect to any Incentive Stock Options granted to a
Ten Percent Shareholder, the option price per Share shall not be less than 110%
of the Fair Market Value of such Share on the Date of Grant.

                  (c) Restrictions on Transferability. No Option granted under
this Paragraph 7 shall be transferable otherwise than by will or the laws of
descent and distribution and, during the lifetime of the Optionee, shall be
exercisable only by him or for his benefit by his attorney-in-fact or guardian;
provided that the Committee may, in its discretion, at the time of

                                      -7-

<PAGE>

grant of a Non-Qualified Option or by amendment of an option document for an
Incentive Stock Option or a Non-Qualified Option, provide that Options granted
to or held by an Optionee may be transferred, in whole or in part, to one or
more transferees and exercised by any such transferee; provided further that (i)
any such transfer is without consideration and (ii) each transferee is a member
of such Optionee's Immediate Family; and provided further that any Incentive
Stock Option granted pursuant to an option document which is amended to permit
transfers during the lifetime of the Optionee shall, upon the effectiveness of
such amendment, be treated thereafter as a Non-Qualified Option. No transfer of
an Option shall be effective unless the Committee is notified of the terms and
conditions of the transfer and the Committee determines that the transfer
complies with the requirements for transfers of Options under the Plan and the
option document. Any person to whom an Option has been transferred may exercise
any Options only in accordance with the provisions of Paragraph 7(g) and this
Paragraph 7(c).

                  (d) Payment Upon Exercise of Options. Full payment for Shares
purchased upon the exercise of an Option shall be made in cash, by certified
check payable to the order of the Sponsor, or, at the election of the Optionee
and as the Committee may, in its sole discretion, approve, by surrendering
Shares with an aggregate Fair Market Value equal to the aggregate option price,
or by delivering such combination of Shares and cash as the Committee may, in
its sole discretion, approve; provided, however, that Shares may be surrendered
in satisfaction of the option price only if the Optionee certifies in writing to
the Sponsor that the Optionee owns a number of Other Available Shares as of the
date the Option is exercised that is at least equal to the number of Shares to
be surrendered in satisfaction of the Option Price; provided further, however,
that the option price may not be paid in Shares if the Committee determines that
such method of payment would result in liability under section 16(b) of the 1934
Act to an Optionee. Except as otherwise provided by the Committee, if payment is
made in whole or in part in Shares, the Optionee shall deliver to the Sponsor
certificates registered in the name of such Optionee representing Shares legally
and beneficially owned by such Optionee, free of all liens, claims and
encumbrances of every kind and having a Fair Market Value on the date of
delivery that is not greater than the option price accompanied by stock powers
duly endorsed in blank by the record holder of the Shares represented by such
certificates. If the Committee, in its sole discretion, should refuse to accept
Shares in payment of the option price, any certificates representing Shares
which were delivered to the Sponsor shall be returned to the Optionee with
notice of the refusal of the Committee to accept such Shares in payment of the
option price. The Committee may impose such limitations and prohibitions on the
use of Shares to exercise an Option as it deems appropriate.

                  (e) Issuance of Certificate Upon Exercise of Options; Payment
of Cash. Only whole Shares shall be issuable upon exercise of Options. Any right
to a fractional Share shall be satisfied in cash. Upon satisfaction of the
conditions of Paragraph 10, a certificate for the number of whole Shares and a
check for the Fair Market Value on the date of exercise of any fractional Share
to which the Optionee is entitled shall be delivered to such Optionee by the
Sponsor.

                  (f) Termination of Employment. For purposes of the Plan, a
transfer of an employee between two employers, each of which is a Company, shall
not be deemed a termination of employment. For purposes of Paragraph 7(g), an
Optionee's termination of employment shall be deemed to occur on the date an
Optionee ceases to have a regular obligation

                                      -8-

<PAGE>

to perform services for a Company, without regard to whether (i) the Optionee
continues on the Company's payroll for regular, severance or other pay or (ii)
the Optionee continues to participate in one or more health and welfare plans
maintained by the Company on the same basis as active employees. Whether an
Optionee ceases to have a regular obligation to perform services for a Company
shall be determined by the Committee in its sole discretion. Notwithstanding the
foregoing, if an Optionee is a party to an employment agreement or severance
agreement with a Company which establishes the effective date of such Optionee's
termination of employment for purposes of this Paragraph 7(g), that date shall
apply.

         (g) Periods of Exercise of Options. An Option shall be exercisable in
whole or in part at such time or times as may be determined by the Committee and
stated in the option document, provided, however, that if the grant of an Option
would be subject to section 16(b) of the 1934 Act, unless the requirements for
exemption therefrom in Rule 16b-3(c)(1), under such Act, or any successor
provision, are met, the option document for such Option shall provide that such
Option is not exercisable until not less than six months have elapsed from the
Date of Grant. Except as otherwise provided by the Committee in its discretion,
no Option shall first become exercisable following an Optionee's termination of
employment for any reason; provided further, that:

               (i) In the event that an Optionee terminates employment with the
      Company for any reason other than death or Cause, any Option held by such
      Optionee and which is then exercisable shall be exercisable for a period
      of 90 days following the date the Optionee terminates employment with the
      Company (unless a longer period is established by the Committee);
      provided, however, that if such termination of employment with the Company
      is due to the Disability of the Optionee, he shall have the right to
      exercise those of his Options which are then exercisable for a period of
      one year following such termination of employment (unless a longer period
      is established by the Committee); provided, however, that in no event
      shall an Incentive Stock Option be exercisable after five years from the
      Date of Grant in the case of a grant to a Ten Percent Shareholder, nor
      shall any other Option be exercisable after ten years from the Date of
      Grant.

               (ii) In the event that an Optionee terminates employment with the
      Company by reason of his death, any Option held at death by such Optionee
      which is then exercisable shall be exercisable for a period of one year
      from the date of death (unless a longer period is established by the
      Committee) by the person to whom the rights of the Optionee shall have
      passed by will or by the laws of descent and distribution; provided,
      however, that in no event shall an Incentive Stock Option be exercisable
      after five years from the Date of Grant in the case of a grant to a Ten
      Percent Shareholder, nor shall any other Option be exercisable after ten
      years from the Date of Grant.

               (iii) In the event that an Optionee's employment with the Company
      is terminated for Cause, each unexercised Option held by such Optionee
      shall terminate and cease to be exercisable; provided further, that in
      such event, in addition to immediate termination of the Option, the
      Optionee, upon a determination by the Committee shall automatically
      forfeit all Shares otherwise subject to delivery upon exercise of an
      Option but for which the Sponsor has not yet delivered the Share
      certificates, upon refund by the Sponsor of the option price.

                                      -9-

<PAGE>

               (h) Date of Exercise. The date of exercise of an Option shall be
the date on which written notice of exercise, addressed to the Sponsor at its
main office to the attention of its Secretary, is hand delivered, telecopied or
mailed first class postage prepaid; provided, however, that the Sponsor shall
not be obligated to deliver any certificates for Shares pursuant to the exercise
of an Option until the Optionee shall have made payment in full of the option
price for such Shares. Each such exercise shall be irrevocable when given. Each
notice of exercise must (i) specify the Incentive Stock Option, Non-Qualified
Option or combination thereof being exercised; and (ii) include a statement of
preference (which shall binding on and irrevocable by the Optionee but shall not
be binding on the Committee) as to the manner in which payment to the Sponsor
shall be made (Shares or cash or a combination of Shares and cash). Each notice
of exercise shall also comply with the requirements of Paragraph 15.

               (i) Cash Rights. The Committee may, in its sole discretion,
provide in an option document for an eligible Optionee that Cash Rights shall be
attached to Non-Qualified Options granted under the Plan. All Cash Rights that
are attached to Non-Qualified Options shall be subject to the following terms:

                   (i) Such Cash Right shall expire no later than the
     Non-Qualified Option to which it is attached.

                   (ii) Such Cash Right shall provide for the cash payment of
     such amount per Share as shall be determined by the Committee and stated in
     the option document.

                   (iii) Such Cash Right shall be subject to the same
     restrictions on transferability as the Non-Qualified Option to which it is
     attached.

                   (iv) Such Cash Right shall be exercisable only when such
     conditions to exercise as shall be determined by the Committee and stated
     in the option document, if any, have been satisfied.

                   (v) Such Cash Right shall expire upon the exercise of the
     Non-Qualified Option to which it is attached.

                   (vi) Upon exercise of a Cash Right that is attached to a
     Non-Qualified Option, the Option to which the Cash Right is attached shall
     expire.

               (j) Type of Shares. Each Option granted under this Paragraph 7 to
an employee of a Company shall be an Option to purchase Shares of the Company's
Class A Special Common Stock, par value, $1.00, except for (i) any Option
specifically designated at the time of grant as an Option to purchase Shares of
the Company's Class B Common Stock, par value, $1.00, or (ii) any Option
specifically designated at the time of grant as an Option to purchase Shares of
the Company's Class A Special Common Stock, par value, $1.00, that will
automatically convert to an Option to purchase Shares of the Company's Class B
Special Common Stock, par value, $1.00, upon and subject to the approval by the
Sponsor's shareholders of the amendment to the Plan adopted by the Board on
October 5, 2000 to make the Sponsor's Class B Common Stock, par value $1.00
available for the grant of Options under the Plan.

         8. Option Documents and Terms - Non-Employee Directors

                                      -10-

<PAGE>

         Options granted pursuant to the Plan to Non-Employee Directors shall be
granted, without any further action by the Committee, in accordance with the
terms and conditions set forth in this Paragraph 8. Options granted pursuant to
Paragraph 8(a) shall be evidenced by option documents. The terms of each such
option document shall be consistent with Paragraphs 8(b) through 8(g), as
follows:

             (a) Grant of Options to Non-Employee Directors. Each Non-Employee
Director shall be granted, commencing on the Grant Date next following the
adoption of this Plan by the Board and on each successive Grant Date thereafter,
a Non-Qualified Option to purchase 5,400 Shares. Notwithstanding the preceding
sentence, each newly elected Non-Employee Director:

                 (i) shall be granted a Non-Qualified Option to purchase 9,000
      Shares on the Election Date; and

                 (ii) shall not be entitled to the grant of an Option hereunder
      on the Grant Date immediately following the Non-Employee Director's
      Election Date if such Election Date is within ninety (90) days of the
      Grant Date.

             (b) Option Price. The option price per Share with respect to any
Option granted under this Paragraph 8 shall be 100% of the Fair Market Value of
such Share on the Grant Date.

             (c) Restrictions on Transferability. No Option granted under this
Paragraph 8 shall be transferable otherwise than by will or the laws of descent
and distribution and, during the lifetime of the Optionee, shall be exercisable
only by him or for his benefit by his attorney-in-fact or guardian; provided
that the Committee may, in its discretion, at the time of grant of an Option or
by amendment of an option document for an Option, provide that Options may be
transferred, in whole or in part, to one or more transferees and exercised by
any such transferee; provided further that (i) any such transfer is without
consideration, and (ii) each transferee is a member of such Optionee's Immediate
Family. No transfer of an Option shall be effective unless the Committee is
notified of the terms and conditions of the transfer and the Committee
determines that the transfer complies with the requirements for transfers of
Options under the Plan and the option document. Any person to whom an Option has
been transferred may exercise any Options only in accordance with the provisions
of Paragraph 8(f) and this Paragraph 8(c).

             (d) Payment Upon Exercise of Options. Full payment for Shares
purchased upon the exercise of an Option shall be made in cash, by certified
check payable to the order of the Sponsor, or, at the election of the Optionee
and as the Committee may, in its sole discretion, approve, by surrendering
Shares with an aggregate Fair Market Value equal to the aggregate option price,
or by delivering such combination of Shares and cash as the Committee may, in
its sole discretion, approve; provided, however, that Shares may be surrendered
in satisfaction of the option price only if the Optionee certifies in writing to
the Sponsor that the Optionee owns a number of Other Available Shares as of the
date the Option is exercised that is at least equal to the number of Shares to
be surrendered in satisfaction of the Option Price; provided further, however,
that the option price may not be paid in Shares if the Committee determines that
such method of payment would result in liability under section 16(b) of the 1934
Act to an Optionee. Except as otherwise provided by the Committee, if payment is
made in

                                      -11-

<PAGE>

whole or in part in Shares, the Optionee shall deliver to the Sponsor
certificates registered in the name of such Optionee representing Shares legally
and beneficially owned by such Optionee, free of all liens, claims and
encumbrances of every kind and having a Fair Market Value on the date of
delivery that is not greater than the option price accompanied by stock powers
duly endorsed in blank by the record holder of the Shares represented by such
certificates. If the Committee, in its sole discretion, should refuse to accept
Shares in payment of the option price, any certificates representing Shares
which were delivered to the Sponsor shall be returned to the Optionee with
notice of the refusal of the Committee to accept such Shares in payment of the
option price. The Committee may impose such limitations and prohibitions on the
use of Shares to exercise an Option as it deems appropriate.

             (e) Issuance of Certificate Upon Exercise of Options; Payment of
Cash. Only whole Shares shall be issuable upon exercise of Options granted under
this Paragraph 8. Any right to a fractional Share shall be satisfied in cash.
Upon satisfaction of the conditions of Paragraph 10, a certificate for the
number of whole Shares and a check for the Fair Market Value on the date of
exercise of any fractional Share to which the Optionee is entitled shall be
delivered to such Optionee by the Sponsor.

             (f) Periods of Exercise of Options. An Option granted under this
Paragraph 8 shall not be exercisable for six months after the Date of Grant, and
shall then be exercisable in its entirety. No Option shall first become
exercisable following an Optionee's termination of service as a Non-Employee
Director for any reason other than the Non-Employee Director's termination of
service because of the Non-Employee Director's death, Disability or attainment
of mandatory retirement age under any mandatory retirement policy established by
the Board as in effect from time to time ("Mandatory Retirement"). All Options
granted to a Non-Employee Director shall become immediately exercisable in full
upon an Optionee's termination of service as a Non-Employee Director because of
death, Disability or Mandatory Retirement; provided further, that the following
rules shall apply to all Options previously granted under the Plan to
Non-Employee Directors that are outstanding as of June 5, 2001, and to all
Options granted under the Plan to Non-Employee Directors after June 5, 2001:

                 (i) In the event that an Optionee terminates service as a
      Non-Employee Director for any reason other than the Disability or
      Mandatory Retirement of the Optionee, death or Cause, any Option held by
      such Optionee and which is then exercisable shall continue to be
      exercisable for a period of 90 days following the date the Optionee
      terminates service as a Non-Employee Director; provided, however, that in
      no event shall an Option be exercisable after the day before the fifth
      anniversary of the Date of Grant.

                 (ii) In the event that an Optionee terminates service as a
      Non-Employee Director due to the Disability, death or Mandatory Retirement
      of the Optionee, any Option held by such Optionee and which is then
      exercisable shall continue to be exercisable by the Optionee or, in the
      case of the Optionee's death, by the person to whom the rights of the
      Optionee shall have passed by will or by the laws of descent and
      distribution until the day before the fifth anniversary of the Date of
      Grant.

                 (iii) In the event that an Optionee's service as a Non-Employee
      Director is terminated for Cause, each unexercised Option shall terminate
      and cease to be exercisable; provided further, that in such event, in
      addition to immediate termination of

                                      -12-

<PAGE>

     the Option, the Optionee shall automatically forfeit all Shares otherwise
     subject to delivery upon exercise of an Option but for which the Sponsor
     has not yet delivered the Share certificates, upon refund by the Sponsor of
     the option price.

               (g) Date of Exercise. The date of exercise of an Option granted
under this Paragraph 8 shall be the date on which written notice of exercise,
addressed to the Sponsor at its main office to the attention of its Secretary,
is hand delivered, telecopied or mailed first class postage prepaid; provided,
however, that the Sponsor shall not be obligated to deliver any certificates for
Shares pursuant to the exercise of an Option until the Optionee shall have made
payment in full of the option price for such Shares. Each such exercise shall be
irrevocable when given. Each notice of exercise must (i) specify the Option
being exercised; and (ii) include a statement as to the manner in which payment
to the Sponsor shall be made (Shares or cash or a combination of Shares and
cash). Each notice of exercise shall also comply with the requirements of
Paragraph 15.

               (h) Type of Shares. Each Option granted under this Paragraph 8
shall be an Option to purchase Shares of the Company's Class A Special Common
Stock, par value, $1.00.

          9. Limitation on Exercise of Incentive Stock Options

          The aggregate Fair Market Value (determined as of the time
Options are granted) of the Shares with respect to which Incentive Stock Options
may first become exercisable by an Optionee in any one calendar year under the
Plan and any other plan of the Company shall not exceed $100,000. The
limitations imposed by this Paragraph 9 shall apply only to Incentive Stock
Options granted under the Plan, and not to any other options or stock
appreciation rights. In the event an individual receives an Option intended to
be an Incentive Stock Option which is subsequently determined to have exceeded
the limitation set forth above, or if an individual receives Options that first
become exercisable in a calendar year (whether pursuant to the terms of an
option document, acceleration of exercisability or other change in the terms and
conditions of exercise or any other reason) that have an aggregate Fair Market
Value (determined as of the time the Options are granted) that exceeds the
limitations set forth above, the Options in excess of the limitation shall be
treated as Non-Qualified Options.

          10. Rights as Shareholders

          An Optionee shall not have any right as a shareholder with respect to
any Shares subject to his Options until the Option shall have been exercised in
accordance with the terms of the Plan and the option document and the Optionee
shall have paid the full purchase price for the number of Shares in respect of
which the Option was exercised and the Optionee shall have made arrangements
acceptable to the Sponsor for the payment of applicable taxes consistent with
Paragraph 16.

          11. Changes in Capitalization

               (a) Except as provided in Paragraph 11(b), in the event that
Shares are changed into or exchanged for a different number or kind of shares of
stock or other securities of the Sponsor, whether through merger, consolidation,
reorganization, recapitalization, stock dividend, stock split-up or other
substitution of securities of the Sponsor, the Board shall make

                                      -13-

<PAGE>

appropriate equitable anti-dilution adjustments to the number and class of
shares of stock available for issuance under the Plan, and subject to
outstanding Options, and to the option prices and the amounts payable pursuant
to any Cash Rights. Any reference to the option price in the Plan and in option
documents shall be a reference to the option price as so adjusted. Any reference
to the term "Shares" in the Plan and in option documents shall be a reference to
the appropriate number and class of shares of stock available for issuance under
the Plan, as adjusted pursuant to this Paragraph 11. The Board's adjustment
shall be effective and binding for all purposes of this Plan.

               (b) Paragraph 11(a) shall not apply to the number of Shares that
become subject to the grant of Options under Paragraph 8(a). Paragraph 11(a)
shall apply for the purpose of making appropriate equitable anti-dilution
adjustments to Options granted pursuant to Paragraph 8(a) before the effective
date of the relevant event giving rise to the adjustment under Paragraph 11(a).

          12. Terminating Events

               (a) The Sponsor shall give Optionees at least thirty (30) days'
notice (or, if not practicable, such shorter notice as may be reasonably
practicable) prior to the anticipated date of the consummation of a Terminating
Event. Upon receipt of such notice, and for a period of ten (10) days thereafter
(or such shorter period as the Board shall reasonably determine and so notify
the Optionees), each Optionee shall be permitted to exercise the Option to the
extent the Option is then exercisable; provided that, the Sponsor may, by
similar notice, require the Optionee to exercise the Option, to the extent the
Option is then exercisable, or to forfeit the Option (or portion thereof, as
applicable). The Committee may, in its discretion, provide that upon the
Optionee's receipt of the notice of a Terminating Event under this Paragraph
12(a), the entire number of Shares covered by Options shall become immediately
exercisable.

               (b) Notwithstanding Paragraph 12(a), in the event the Terminating
Event is not consummated, the Option shall be deemed not to have been exercised
and shall be exercisable thereafter to the extent it would have been exercisable
if no such notice had been given.

          13. Interpretation

          The Committee shall have the power to interpret the Plan and to make
and amend rules for putting it into effect and administering it. It is intended
that the Incentive Stock Options granted under the Plan shall constitute
incentive stock options within the meaning of section 422 of the Code, and that
Shares transferred pursuant to the exercise of Non-Qualified Options shall
constitute property subject to federal income tax pursuant to the provisions of
section 83 of the Code. The provisions of the Plan shall be interpreted and
applied insofar as possible to carry out such intent.

          14. Amendments

          The Board or the Committee may amend the Plan from time to time in
such manner as it may deem advisable. Nevertheless, neither the Board nor the
Committee may, without obtaining approval within twelve months before or after
such action by such vote of shareholders as may be required by Pennsylvania law
for any action requiring shareholder

                                      -14-

<PAGE>

approval, or by a majority of votes cast at a duly held shareholders' meeting at
which a majority of all voting stock is present and voting on such amendment,
either in person or in proxy (but not, in any event, less than the vote required
pursuant to Rule 16b-3(b) under the 1934 Act) change the class of individuals
eligible to receive an Incentive Stock Option, extend the expiration date of the
Plan, decrease the minimum option price of an Incentive Stock Option granted
under the Plan or increase the maximum number of shares as to which Options may
be granted, except as provided in Paragraph 11 hereof. In addition, the
provisions of Paragraph 8 that determine (i) which directors shall be granted
Options; (ii) the number of Shares subject to Options; (iii) the option price of
Shares subject to Options; and (iv) the timing of grants of Options shall not be
amended more than once every six months, other than to comport with changes in
the Code or the Employee Retirement Income Security Act of 1974, as amended, if
applicable. No outstanding Option shall be affected by any such amendment
without the written consent of the Optionee or other person then entitled to
exercise such Option.

          15. Securities Law

               (a) In General. The Committee shall have the power to make each
grant under the Plan subject to such conditions as it deems necessary or
appropriate to comply with the then-existing requirements of the 1933 Act or the
1934 Act, including Rule 16b-3 (or any similar rule) of the Securities and
Exchange Commission.

               (b) Acknowledgment of Securities Law Restrictions on Exercise. To
the extent required by the Committee, unless the Shares subject to the Option
are covered by a then current registration statement or a Notification under
Regulation A under the 1933 Act, each notice of exercise of an Option shall
contain the Optionee's acknowledgment in form and substance satisfactory to the
Committee that:

                    (i)     the Shares subject to the Option are being purchased
     for investment and not for distribution or resale (other than a
     distribution or resale which, in the opinion of counsel satisfactory to the
     Sponsor, may be made without violating the registration provisions of the
     Act);

                    (ii)    the Optionee has been advised and understands that
     (A) the Shares subject to the Option have not been registered under the
     1933 Act and are "restricted securities" within the meaning of Rule 144
     under the 1933 Act and are subject to restrictions on transfer and (B) the
     Sponsor is under no obligation to register the Shares subject to the Option
     under the 1933 Act or to take any action which would make available to the
     Optionee any exemption from such registration;

                    (iii)   the certificate evidencing the Shares may bear a
     restrictive legend; and

                    (iv)    the Shares subject to the Option may not be
     transferred without compliance with all applicable federal and state
     securities laws.

               (c) Delay of Exercise Pending Registration of Securities.
Notwithstanding any provision in the Plan or an option document to the contrary,
if the Committee determines, in its sole discretion, that issuance of Shares
pursuant to the exercise of an Option should be delayed pending registration or
qualification under federal or state securities

                                      -15-

<PAGE>

laws or the receipt of a legal opinion that an appropriate exemption from the
application of federal or state securities laws is available, the Committee may
defer exercise of any Option until such Shares are appropriately registered or
qualified or an appropriate legal opinion has been received, as applicable.

          16. Withholding of Taxes on Exercise of Option

               (a) Whenever the Company proposes or is required to deliver or
transfer Shares in connection with the exercise of an Option, the Company shall
have the right to (i) require the recipient to remit to the Sponsor an amount
sufficient to satisfy any federal, state and local withholding tax requirements
prior to the delivery or transfer of any certificate or certificates for such
Shares or (ii) take any action whatever that it deems necessary to protect its
interests with respect to tax liabilities. The Sponsor's obligation to make any
delivery or transfer of Shares on the exercise of an Option shall be conditioned
on the recipient's compliance, to the Sponsor's satisfaction, with any
withholding requirement. In addition, if the Committee grants Options or amends
option documents to permit Options to be transferred during the life of the
Optionee, the Committee may include in such option documents such provisions as
it determines are necessary or appropriate to permit the Company to deduct
compensation expenses recognized upon exercise of such Options for federal or
state income tax purposes.

               (b) Except as otherwise provided in this Paragraph 16(b), any tax
liabilities incurred in connection with the exercise of an Option under the Plan
other than an Incentive Stock Option shall be satisfied by the Sponsor's
withholding a portion of the Shares underlying the Option exercised having a
Fair Market Value approximately equal to the minimum amount of taxes required to
be withheld by the Sponsor under applicable law, unless otherwise determined by
the Committee with respect to any Optionee. Notwithstanding the foregoing, the
Committee may permit an Optionee to elect one or both of the following: (i) to
have taxes withheld in excess of the minimum amount required to be withheld by
the Sponsor under applicable law; provided that the Optionee certifies in
writing to the Sponsor that the Optionee owns a number of Other Available Shares
having a Fair Market Value that is at least equal to the Fair Market Value of
Option Shares to be withheld by the Company for the then-current exercise on
account of withheld taxes in excess of such minimum amount, and (ii) to pay to
the Sponsor in cash all or a portion of the taxes to be withheld upon the
exercise of an Option. In all cases, the Shares so withheld by the Company shall
have a Fair Market Value that does not exceed the amount of taxes to be withheld
minus the cash payment, if any, made by the Optionee. Any election pursuant to
this Paragraph 16(b) must be in writing made prior to the date specified by the
Committee, and in any event prior to the date the amount of tax to be withheld
or paid is determined. An election pursuant to this Paragraph 16(b) may be made
only by an Optionee or, in the event of the Optionee's death, by the Optionee's
legal representative. No Shares withheld pursuant to this Paragraph 16(b) shall
be available for subsequent grants under the Plan. The Committee may add such
other requirements and limitations regarding elections pursuant to this
Paragraph 16(b) as it deems appropriate.

               (c) Except as otherwise provided in this Paragraph 16(c), any tax
liabilities incurred in connection with the exercise of an Incentive Stock
Option under the Plan shall be satisfied by the Optionee's payment to the
Sponsor in cash all of the taxes to be withheld upon exercise of the Incentive
Stock Option. Notwithstanding the foregoing, the Committee may permit an
Optionee to elect to have the Sponsor withhold a portion of the Shares
underlying the Incentive Stock Option exercised having a Fair Market Value
approximately equal to the

                                      -16-

<PAGE>

minimum amount of taxes required to be withheld by the Sponsor under applicable
law. Any election pursuant to this Paragraph 16(c) must be in writing made prior
to the date specified by the Committee, and in any event prior to the date the
amount of tax to be withheld or paid is determined. An election pursuant to this
Paragraph 16(c) may be made only by an Optionee or, in the event of the
Optionee's death, by the Optionee's legal representative. No Shares withheld
pursuant to this Paragraph 16(c) shall be available for subsequent grants under
the Plan. The Committee may add such other requirements and limitations
regarding elections pursuant to this Paragraph 16(c) as it deems appropriate.

          17. Effective Date and Term of Plan

          This amendment and restatement of the Plan is effective as of April
29, 2002. The Plan shall expire no later than March 13, 2006, the tenth
anniversary of the date the Plan was initially adopted by the Board, unless
sooner terminated by the Board.

          18. General

          Each Option shall be evidenced by a written instrument containing such
terms and conditions not inconsistent with the Plan as the Committee may
determine. The issuance of Shares on the exercise of an Option shall be subject
to all of the applicable requirements of the corporation law of the Sponsor's
state of incorporation and other applicable laws, including federal or state
securities laws, and all Shares issued under the Plan shall be subject to the
terms and restrictions contained in the Articles of Incorporation and By-Laws of
the Sponsor, as amended from time to time.

                                   Executed as of the 29th day of April, 2002.

                                            COMCAST CORPORATION

                                            By: /s/ Stanley Wang
                                                -----------------------------

                                            Attest: /s/ Arthur Block
                                                    -------------------------

                                      -17-

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